News 15:00

BULLETIN 4 February 3 pm

Good afternoon. I am……..

In this bulletin:

# The Department of Mineral Resources and Petroleum confirms fuel prices will be hiked at midnight
# AfriForum seeks clarity as the Hawks confirm the VBS Bank investigation is complete
# And cricket: The fourth season of the SA20 starts just after Christmas this year

# The Department of Mineral Resources and Petroleum has confirmed substantial fuel price increases from midnight. Spokesperson Robert Maake says both grades of petrol will increase by 52-cents-per-litre, while diesel rises by between one-rand-one-cent and one-rand-five-cents-per-litre. He confirmed that illuminating paraffin goes up by one-rand-25-cents-per-litre, and the price of LP gas increases by 42-cents-per-kilogram:

# AfriForum is calling for transparency and clarity after the Hawks confirmed completion of their investigation into VBS Bank, confirming that prosecutions will follow soon. AfriForum’s Barry Bateman says the organisation’s Private Prosecution Unit has requested confirmation on whether charges of racketeering, money laundering, and corruption, are included, as alleged by AfriForum CEO Kallie Kriel. The organisation insists that Kriel’s stance covers broader criminal allegations beyond VBS. AfriForum argues that Kriel’s affidavit should be formally merged into the case docket.

# The Public Servants Association is urging the South African Reserve Bank to consider further reductions in the repo rate to stimulate demand and economic activity. Last week, the Reserve Bank cut interest rates by 25 basis points. The PA’s Claude Naiker says the association is calling on government to implement policies that directly address the cost-of-living crisis faced by workers:

# Cricket: The fourth season of the SA20 will start late in December this year already. The date has been brought forward because the Proteas don’t have any international fixtures during that time. Season 5 will return to the traditional starting time of early January 2027, and feature a bigger rest period between matches and less weekday matches. It will kick off a bumper year for the local game, with the men’s World Cup taking place in South Africa, Zimbabwe and Namibia.

# The financial indicators: The dollar trades at 18-rand-74-cents and the euro at 19-rand-35-cents. One British pound costs 23-rand-27-cents and Bitcoin trades at 99-thousand-358-dollars. Gold sells at two-thousand-813-dollars-60-cents a fine ounce and Brent crude oil is quoted at 74-dollars-94-cents a barrel.

# And finally: Steyn City has announced the passing of its visionary founder, billionaire businessman Douw Steyn at the age of 72-years. He is remembered as an exceptional entrepreneur who built a global business empire and remained deeply committed to South Africa. This includes companies like Auto and General. When former president Nelson Mandela was released from prison, he stayed at Steyn’s home in Johannesburg. The home later became the Saxon Hotel. His family has requested privacy. Donations in his memory can be made to the Diepsloot food security programme.

Stay tuned for more news………….