News 17:00

BULLETIN 4 December 5 pm

Good afternoon. I am……..

In this bulletin:

# A FNB economist forecasts a two-percent GDP growth in 2025 and ’26
# BOSA criticises the government for failing to spark economic recovery
# And cricket: A victory for the Proteas in Gqeberha will strengthen their standings even further in the World Test Championship

# FNB senior economist Thanda Sithole projects a two-percent gross domestic product growth for South Africa in 2025 and ’26, despite a 0.3-percent, weaker-than-expected performance in the third quarter of this year. Sithole highlights that improvements in energy availability, the stabilisation of logistics networks, and ongoing structural reforms will drive the country’s long-term recovery. While this year’s growth is now unlikely to meet initial forecasts, the outlook remains positive, with stronger growth anticipated beyond 2027, as these key sectors continue to improve.

Meanwhile, Build One South Africa has criticised the government of national unity for failing to ignite an economic recovery. The economy’s decline was driven by significant losses in sectors like agriculture, transport, and trade, while exports also dropped by 3.7-percent. BOSA’s Roger Solomons argues the government’s failure to implement necessary reforms has left eleven-million people unemployed and struggling.

# Around 150 illegal miners are trapped inside an abandoned mine in Sabie, Mpumalanga, with three reported dead and six already rescued. The situation was discovered yesterday when four suspected miners fleeing the scene alerted security personnel. Police spokesperson Donald Mdhluli says the miners, reportedly forced to work under dangerous conditions, have raised concerns that those running the operation may be armed:

# The Western Cape government says it is fully prepared for the summer veld fire season with plans implemented by CapeNature and Disaster Risk Management. Aerial support, firebreak management, and rapid detection systems are in place to minimise fire spread. According to the DA’s Dave Bryant, the province is focused on protecting communities and natural resources:

# Cricket: Victory for the Proteas over Sri Lanka in the second Test in Gqeberha from tomorrow  will strengthen their position in the World Test Championship even further. South Africa improved to second place behind India with the 233-run victory in the first Test in Durban. If they could also make a clean sweep in the coming two Tests against Pakistan, they will qualify for the final, irrespective of other results. India, Australia, New Zealand, Sri Lanka, England, and Pakistan are also still in the running.

# And the financial indicators: The dollar trades at 18-rand-16-cents and the euro at 19-rand-6-cents. One British pound costs 23-rand-2-cents and Bitcoin trades at 95-thousand-926-dollars. Gold sells at two-thousand-639-dollars-8-cents a fine ounce and Brent crude oil is quoted at 73-dollars-73-cents a barrel.

Stay tuned for more news………….