News 17:00

BULLETIN 18 April 5 pm

Good afternoon. I am……..

In this bulletin:

# South Africa loses 20-percent of its dollar millionaires amid logistical issues and crime 
# Pro-growth interventions save the Western Cape economy 2.4-billion-rand 
# And motorsport: Charles Leclerc says Ferrari will be closer to Red Bull in China 

# The number of millionaires in Africa has decreased by nearly 20-thousand over the past decade due to currency depreciations and economic challenges, with just 135-thousand-200 individuals now possessing wealth of one-million-dollars or more. South Africa, home to the highest number of wealthy individuals in Africa, has lost 20-percent of its dollar millionaires amid logistical issues and crime in the last decade. However, Henley & Partners reports Africa’s millionaire population is projected to rise by 65-percent in the next decade, driven by wealth growth in countries like Mauritius and Namibia.

# The Western Cape government says it is determined to make it as easy as possible for the private sector to do business and create jobs in the province. Through the Red Tape Reduction Unit, the provincial Department of Economic Development and Tourism has already helped to save the provincial economy 2.4-billion-rand between March 2019 and March last year. MEC for Finance and Economic Opportunities, Mireille Wenger, says cutting red tape means investment can flow more easily into the province:

# India gears up for the world’s largest democratic election, starting tomorrow. Nearly 970-million voters will participate in the longest and most expensive election in history. It will span seven phases over six weeks, with results announced on 4 June. Two-thousand-500 political parties are anticipated to spend 266-billion-rand on campaigns, with 15-million security staff and voting officials deployed by the Electoral Commission. Opposition leader Rahul Gandhi criticised the election as the most unscrupulous in Indian history:

# Motorsport: Charles Leclerc says Ferrari will be closer to Red Bull at this weekend’s Chinese Grand Prix, but he still expects his fight to be for the minor podium places. Formula One is back in China for the first time in five years with a packed programme including a Saturday sprint race. Red Bull’s Max Verstappen and Sergio Perez secured a dominant one-two in Japan two weeks ago, followed by the Ferraris of Carlos Sainz and Leclerc. McLaren debutant Oscar Piastri says his team may struggle:

# The financial indicators: The dollar trades at 19-rand-7-cents and the euro at 20-rand-34-cents. One British pound costs 23-rand-78-cents and Bitcoin trades at 62-thousand-281-dollars-16-cents. Gold sells at two-thousand-384-dollars-49-cents a fine ounce and Brent crude oil is quoted at 87-dollars-52-cents a barrel.

# And finally: The Keep Pietermaritzburg Clean Action Group has launched the Ellie Bank Project. This project entails creating an elephant or Ellie Bank out of recyclable materials and inviting friends, family, community, or schools to fill its belly with a 20-rand note or empty cans. The group’s executive director, Lara Edmonds, says the funds raised will empower them to fulfil its mandate to get Pietermaritzburg clean, neat, beautiful and green.

Stay tuned for more news………….