News 15:00

BULLETIN 26 September 3 pm

Good afternoon. I am……..

In this bulletin:

# Markus Jooste’s former associate pleads guilty to insider trading at Steinhoff
# The Gauteng government risks bankruptcy by next year
# And rugby: The injured Marika Koroibete and James Slipper will miss the Wallabies’ final Rugby Championship Test

# A friend of former Steinhoff CEO Markus Jooste, Gerhardus Burger, has pleaded guilty to insider trading after selling over 39-thousand Steinhoff shares before the company’s collapse. Arrested by the Hawks, the 89-year-old admitted to three counts of insider trading and received a five-year prison sentence, suspended for five years. In 2017, Jooste advised Burger via text message to sell his shares. The case follows the March arrest of former Steinhoff legal head Stéhan Grobler, who faces fraud and racketeering charges.

# Gauteng Finance MEC Lebogang Maile has warned the provincial government might go bankrupt by next year if the struggling Health Department is not fixed. The department could be six-billion-rand in debt and is the only one failing to meet compliance standards. Maile noted it has 18-billion-rand in legal costs. He says it is crucial for urgent changes to be made in order to avoid a financial crisis:

Meanwhile, Gauteng MEC for Health, Nomantu Nkomo-Ralehoko, has disclosed 3.9-million-rand was paid to seven Cuban doctors who left South Africa to go back to their country. The DA’s Jack Bloom says 28 Cuban doctors were hired on a one-year contract to assist during the Covid-19 pandemic. He says the contracts for seven of them were irregularly extended for another year:

# Non-profit organisation Recycling and Economic Development Initiative of South Africa has approached the High Court in Pretoria to launch a legal action against the government’s Industry Waste Tyre Management Plan. Redisa claims the plan threatens environmental and economic stability, citing unrealistic targets, flawed procedures, and missed recycling opportunities. CEO Hermann Erdmann warns of disastrous effects if implemented, emphasising waste tyres’ economic potential. He also highlights Redisa’s previous role in managing tyre waste, creating jobs, and reducing emissions.

# Rugby: Wallabies star winger Marika Koroibete and veteran prop James Slipper are injured and will miss Saturday’s final Rugby Championship Test against the All Blacks in Wellington. Koroibete sustained a wrist injury and Slipper has concussion. Scrumhalf Nic White was left out of coach Joe Schmidt’s matchday squad and will be replaced by Jake Gordon, with Tate McDermott on the bench. Australia could only beat Argentina in this year’s competition, and is at the bottom of the log.

# And the financial indicators: The dollar trades at 17-rand-18-cents and the euro at 19-rand-16-cents. One British pound costs 22-rand-99-cents and Bitcoin trades at 64-thousand-435-dollars-79-cents. Gold sells at two-thousand-679-dollars-67-cents a fine ounce and Brent crude oil is quoted at 73-dollars-71-cents a barrel.

Stay tuned for more news………….