News 17:00

BULLETIN 29 August 5 pm

Good afternoon. I am……..

In this bulletin:

# Ramaphosa says it’s not the right time for a Sovereign Wealth Fund in South Africa
# Parole is denied to the Griekwastad murderer
# And rugby: Robertson realises Ellis Park is one of the Boks’ fortresses

# President Cyril Ramaphosa says now is not the opportune time for a Sovereign Wealth Fund in South Africa. Responding to the chairperson of Parliament’s standing committee on Finance, Joseph Maswanganyi, Ramaphosa explained that while such a fund could benefit the economy, current priorities include reforming state-owned enterprises to ensure the fund’s success in the future:

# Parole had been denied to the Griekwastad murderer. He was only 15 when he killed his parents and sister, Deon, Christel and 14-year-old Marthella Steenkamp, in their Northern Cape farmhouse in 2012. The High Court later sentenced him to 20-years on each of the murder counts, 12 years for raping Marthella, and four years for defeating the ends of justice. He may not be identified as he had been a minor at the time. Correctional Services admitted he served his prescribed time, but wouldn’t explain why parole was denied.

# Defend Our Democracy and other civil rights groups protested outside SARS head office in Pretoria, spotlighting the rising violence against whistleblowers. This includes the recent assassination attempt of Coreth Naudé, who survived while probing a corruption case tied to SARS. The Ahmed Kathrada Foundation’s Phumla Williams says the protest stands in solidarity with those risking their lives for justice:

# South Africa has seen the closure of 133 businesses in July, bringing the year-to-date total to 892 liquidations. According to Stats SA, the hardest-hit sectors were finance, insurance, real estate, business services, trade, catering, and accommodation. Despite the closures, 2024 has seen fewer liquidations compared to 2023, with a five-percent year-on-year decrease in July. According to principal survey statistician, Onica Mushwana, the closures could lead to significant job cuts.

# Rugby: All Blacks head coach Scott Robertson realises his charges will need calm heads when they take on the Springboks in Saturday’s Rugby Championship Test at Ellis Park. New Zealand is out for revenge after losing to South Africa in the final of last year’s World Cup. The Boks are topping the log after two convincing victories over Australia, while the Kiwi’s had mixed results against Argentina. Robertson says the venue in Johannesburg is one of the hosts’ fortresses:

# And, the financial indicators: The dollar trades at 17-rand-72-cents and the euro at 19-rand-65-cents. One British pound costs 23-rand-34-cents and Bitcoin trades at 60-thousand-397-dollars-32-cents. Gold sells at two-thousand-511-dollars-61-cents a fine ounce and Brent crude oil is quoted at 78-dollars-19-cents a barrel.

Stay tuned for more news………….