News 06:00

BULLETIN 13 August 6 am

Good morning. I am……..

In this bulletin:

# President Ramaphosa says more must be done to broaden women’s economic participation
# Sasol faces a net loss due to impairments and market pressures
# And rugby: The Wallabies are hampered by injuries ahead of their Perth Test against the Springboks

# President Cyril Ramaphosa says South Africa still has a long way to go in broadening women’s economic participation. In a Gallup study titled, Gender Power in Africa, from the countries surveyed, South Africa has the highest rate of unemployed women and women not in the workforce. In his weekly newsletter, Ramaphosa says through various departments and entities, the state provides financial support to women to enable them to start their businesses and sustain existing businesses. He adds that empowering women contributes to thriving economies and spurs productivity.

# The legal team of former Free State premier Ace Magashule’s former personal assistant believes the state’s case against her is weak. Moroadi Cholota was considered a pivotal state witness in the 255-million-rand asbestos tender scheme case. She was later charged after she declined to cooperate. Cholota, who was deported from the US last Thursday, appeared in the Bloemfontein Magistrate’s Court yesterday, where the case was postponed to today. Her attorney, Piet Tibane, says how the state has treated his client is unacceptable:

# Sasol expects a significant net loss of 55.8-billion-rand, due to impairments totalling 75.4-billion-rand. Despite a stronger rand oil price and improved refining margins, the company faced depressed chemical prices and constrained margins. Sasol anticipates a two-to-17-percent decrease in adjusted earnings before interest, taxes, and depreciation, with a basic loss per share between 68-rand-82-cents and 71-rand-48-cents. Sasol confirmed that results will be presented next week on Tuesday.

# Former City of Johannesburg mayor, Mpho Phalatse, says a new leader should address ongoing challenges and improve service delivery. Speaking to eNCA, Phalatse cautioned that mayors continue to inherit a broken city. Phalatse attributed political instability as a major contributor to the challenges residents face. She emphasised the need for significant reforms to fix the city and restore effective governance:

# The Department of International Relations and Cooperation has reiterated praise for Turkey joining South Africa’s genocide case at the International Court of Justice. This move, adding to international pressure on Israel, makes Turkey the seventh country to seek involvement, following Colombia, Nicaragua, Spain, Libya, Palestine, and Mexico. Spokesperson Chrispin Phiri says there must be justice in Gaza:

# Rugby: The Wallabies suffered a triple injury blow before the second Rugby Championship Test against the Springboks in Perth, adding to the pressure after succumbing 33-7 to the world champions in the first encounter in Brisbane. Locks Nick Frost and Jeremy Williams both sustained head knocks, while winger Filipo Daugunu broke his leg. They will probably be replaced by Josh Canham, Sam Carter, and Marika Koroibete. It’s also not certain whether tighthead prop Taniela Tupou will be back after his father’s death.

# And the financial indicators: The dollar trades at 18-rand-20-cents and the euro at 19-rand-97-cents. One British pound costs 23-rand-30-cents and Bitcoin trades at 59-thousand-444-dollars-33-cents. Gold sells at two-thousand-474-dollars-65-cents a fine ounce and Brent crude oil is quoted at 82-dollars a barrel.

Stay tuned for more news………….