News 16:00

BULLETIN 12 December 4 pm

Good afternoon. I am……..

In this bulletin:

# A digital subpoena system will combat financial crime in South African
# President Cyril Ramaphosa calls for stronger trade ties with Angola
# And canoeing: The 2025 Dusi returns to its original starting point at Camps Drift

# South African financial crime investigators can now subpoena bank records digitally, due to the Section 205 Digital Subpoena system. It was launched by the Hawks, the South African Banking Risk Information Centre, and the Biokinetics Association of South Africa, and expedites access to bank records, modernising investigations. The programme was piloted in Gauteng and aligns with global standards. It will roll out nationally next year. Enhanced training, cutting-edge tools, and secure communication networks aim to reduce investigation times, aiding in tackling money laundering and terrorism financing effectively.

# President Cyril Ramaphosa has called for stronger trade and investment ties between South Africa and Angola. Speaking during the state visit of Angolan president João Lourenço, Ramaphosa said both countries must explore new economic opportunities beyond the oil sector, particularly in areas such as infrastructure, agriculture, and renewable energy:

Meanwhile, China has encouraged its electric vehicle manufacturers to expand operations in South Africa to strengthen bilateral ties. Ambassador Wu Peng highlighted the potential for Chinese companies to establish assembly lines locally, though market conditions remain key. According to Business Tech, China sees opportunities in the nation’s automotive industry, which exported over 271-billion-rand last year. South Africa’s government plans tax incentives for EV manufacturing, while Chinese firms also eye collaborations in energy, infrastructure, and minerals.

# Canoeing: Next year’s Dusi marathon in KwaZulu-Natal will return to its original starting point at Camps Drift in Pietermaritzburg, although contingency plans are in place in the event of poor water quality. The organisers say despite the challenges, they are still able to provide paddlers with a chance to take on the popular event. They say the Dusi will always remain the most iconic canoeing race in South Africa, and promise to maintain the heritage. It takes place from 20 to 22 February.

# The financial indicators: The dollar trades at 17-rand-66-cents and the euro at 18-rand-54-cents. One British pound costs 22-rand-48-cents and Bitcoin trades at 100-thousand-589-dollars. Gold sells at two-thousand-711-dollars-76-cents a fine ounce and Brent crude oil is quoted at 73-dollars-22-cents a barrel.

# And finally: BetterBond’s December property brief reveals an 11.5-percent quarterly and 22.6-percent annual rise in home loan applications during October and November. National sales head, Bradd Bendall, welcomed the 7.8-percent average deposit required and noted a ten-percent drop in rates for first-time buyers year-on-year. He expressed optimism for increased market activity in 2025:

Stay tuned for more news………….