News 06:00

BULLETIN 22 November 6 am

Good morning. I am……..

In this bulletin:

# The Reserve Bank anticipates a slight rise in inflation from 2025
# The government is accused of forcing the Stilfontein miners into submission
# And rugby: Johan Ackermann returns to South Africa after seven years abroad

# The South African Reserve Bank forecasts inflation to rise slightly from the middle of next year. While inflation has recently fallen to 2.8-percent, it is forecasted to increase modestly to 4.6-percent by late 2025, up from previous projections of 4.4-percent. Governor Lesetja Kganyago says this is largely due to anticipated higher electricity prices:

Meanwhile, the EFF has strongly condemned the South African Reserve Bank’s decision to reduce the repo rate by 25 basis points to 7.75-percent. The EFF says this timid move reflects SARB’s continued failure to act in the interest of citizens, prioritising financial sector profitability over the urgent need for economic growth and job creation. The party is demanding a comprehensive overhaul of the country’s monetary policy.

# Non-governmental organisation Society for the Protection of Our Constitution has accused the government of attempting to force the illegal miners underground in Stilfontein into submission or face imminent death. Yesterday, the High Court in Pretoria heard the organisation’s application, seeking an urgent interdict to prevent police from barring food, water, and medical treatment to the illegal miners. Judgment has been reserved. The organisation’s legal representative, Yasmin Omar, says the government is shifting responsibility to rescue the illegal miners:

# The wife of Louis Liebenberg, accused of running a diamond investment scam has been denied bail by the Bronkhorstspruit Magistrate’s Court. Louis and Desiree Liebenberg, along with six others, faces charges of fraud, racketeering, money laundering, and corruption for allegedly defrauding investors of around 4.5-billion-rand. National Prosecuting Authority regional spokesperson Lumka Mahanjana says the husband’s bail application is set for Monday:

# The South African Zionist Federation has condemned the International Criminal Court’s arrest warrants for Israeli Prime minister Benjamin Netanyahu and former defence minister Yoav Gallant. The Federation argues the warrants are baseless, flawed, and politically motivated, as they undermine international law. The organisation’s spokesperson Rolene Marks says the ICC’s actions set a dangerous precedent and wrongly equate Israel’s self-defence against Hamas with terrorism, unfairly attacking Israel’s right to protect its citizens. The Federation says it is laughable that the ICC also issued a warrant for Hamas’ Mohammed Deif who is already dead and cannot answer for his crimes. 

# Rugby: Former Springbok and respected coach Johan Ackermann had been confirmed as new coaching consultant for the Junior Springboks. The 54-year-old returns to South Africa after seven years abroad, where he coached Gloucester in England and two Japanese teams. He left the country in 2018 after leading the Lions to three consecutive Super Rugby finals. He was previously also coach of the SA A team. SA Rugby describes Ackermann’s return as fantastic for South African rugby and believes he will be a great mentor.

# And the financial indicators: The dollar trades at 18-rand-9-cents and the euro at 18-rand-94-cents. One British pound costs 22-rand-78-cents and Bitcoin trades at 98-thousand-482-dollar-80-cents. Gold sells at two-thousand-669-dollars-21-cents a fine ounce and Brent crude oil is quoted at 74-dollars-31-cents a barrel.

Stay tuned for more news………….