News 11:00

BULLETIN 20 July 11 am

Good morning. I am……..

In this bulletin:

# The Trade minister calls for an enhanced industrial policy
# Premier Winde backs the government of national unity and seeks a fair budget for the Western Cape
# And tennis, Rafael Nadal reaches the Bastad semifinals after a four-hour marathon

# The Minister of Trade, Industry and Competition, Parks Tau, has announced efforts to eradicate poverty and boost the economy, urging a national focus on industrial policy. Speaking in Parliament, Tau emphasised co-creating markets and reciprocal partnerships. Tau further noted that 25-percent of South Africa’s wealth is spent on imports, which misaligns with development needs. He called for accelerating smart industrial policy to address these issues:

# Western Cape premier Alan Winde has expressed support for the government of national unity. However, Winde demanded a fair budget to ensure the province played its part in building a better future. Speaking at president Cyril Ramaphosa’s Opening of Parliament Address debate, he vowed to continue lobbying for the devolution of policing powers to ensure better resource allocation in the province:

# The South African Reserve Bank has seized over six-billion-rand plus interest from seven local Steinhoff accounts. Deputy governor Fundi Tshazibana announced the forfeitures, following breaches of foreign exchange regulations. The affected entities include Steinhoff Africa Holdings, Steinhoff International Holdings, and Ibex Investment Holdings. Last year, Steinhoff contested the freezing of 5.5-billion-rand in the high court. In April the Reserve Bank also seized 60-million in cash and property from Berdine Odendaal, linked to former Steinhoff CEO Markus Jooste.

# The Nelson Mandela Bay Business Chambers has condemned the kidnapping of its Technical Director of Auto X and vice-president, Kelvin Naidoo. Chamber CEO Denise van Huyssteen has called for his urgent and safe return to his family, describing the 51-year-old as a valued community member. Van Huyssteen urged for proactive, and visible policing to prevent future crimes and ensure the safety of the local business community.

# And tennis: Rafael Nadal fought into the semifinals of the Bastad Open in Sweden yesterday as he defeated Argentina’s Mariano Navone 6-7, 7-5, 7-5 in three hours and 59 minutes. The 22-time Grand Slam champion is through to the last four of a tournament for the first time since Wimbledon two years ago. Nadal will next face Croatian qualifier Duje Ajdukovic, the world number 130. Nadal is using the event in Bastad as a tune-up for the Paris Olympics, where the tennis will be played at Roland Garros.

Stay tuned for more news………….