News 18:00

BULLETIN 22 November 6 pm

Good afternoon. I am……..

In this bulletin:

# South African firm Harith General Partners is to acquire an infrastructure fund for 6.5-billion-rand
# Thuli Madonsela joins a global sport arbitration council
# And market trends reveal a decline in consumer enthusiasm for Black Friday

# A group of investors, led by South African private equity firm Harith General Partners, has agreed to purchase an infrastructure fund for 6.5-billion-rand. According to Bloomberg, the fund which includes stakes in Lanseria International Airport and Kelvin power station, offers an exit for investors such as South Africa’s Government Employees Pension Fund. Harith will collaborate with Mergence Investment Managers and Zungu Investments. CEO Sipho Makhubela highlighted the deal’s significance amidst sluggish private equity activity and Africa’s growing infrastructure needs.

# The North West legislature’s portfolio committee on Community Safety today monitored progress in the rescue efforts for illegal miners refusing to resurface from an abandoned mine in Stilfontein. They conducted an oversight visit to ensure all stakeholders, including police and rescue teams, are fulfilling their roles. While police assessments are still underway, more than one-thousand-400 miners have surfaced so far. The committee’s Freddy Sonakile told the media discussions are ongoing about the future prevention of similar incidents:

# Union federation Saftu is calling for stronger exchange controls to protect the local economy from financial outflows, with an estimated 1.1-trillion-rand leaving the country each year. The federation expressed strong disapproval over the South African Reserve Bank’s decision to cut interest rates by just 25-basis points. Saftu’s Mogoshadi Maserumule says this cut will not help people struggling with debt, as it only slightly reduces loan repayments:

# On to sports news: Former public protector Thuli Madonsela has been appointed to the International Council of Arbitration for Sport in Lausanne, Switzerland. She was selected by the International Olympic Committee to fill the vacancy left by the late Justice Yvonne Mokgoro for the 2023- to ’26 term. The council, established in 1994, manages the Court of Arbitration for Sport, which resolves sports disputes globally through mediation and arbitration. The institution, recognised by Olympic and non-Olympic federations, handles approximately 900 cases annually.

# The financial indicators: The dollar trades at 18-rand-9-cents and the euro at 18-rand-86-cents. One British pound costs 22-rand-66-cents and Bitcoin trades at 97-thousand-985-dollars. Gold sells at two-thousand-690-dollars-91-cents a fine ounce and Brent crude oil is quoted at 73-dollars-68-cents a barrel.

# And finally: Market trends reveal a decline in consumer enthusiasm for Black Friday, with a notable slowdown in spending and transaction volumes. Retailers are adapting by spreading promotions over the entire month of November, creating a Black November rather than focusing on a single day. According to data from Absa Corporate and Investment Banking, economic pressures such as inflation and high interest rates are reshaping consumer behaviour, pushing people to prioritise essential goods. In addition, online shopping has risen, while in-store traffic has dropped significantly.

Stay tuned for more news………….