News 14:00

BULLETIN 23 July 2 pm

Good afternoon. I am……..

In this bulletin:

# Inflation rises to three-percent in June, driven by surging food prices
# The Canal+ acquisition of MultiChoice gets the green light from the Competition Tribunal
# And rugby: Rassie invites three Junior Boks to train with the Rugby Championship squad

# Consumer inflation rose to three-percent in June, up from 2.8-percent in April and May. Statistics South Africa says the increase is largely driven by rising food prices, with food and non-alcoholic beverages recording a 15-month high inflation rate of 5.1-percent. Beef remains the main contributor, with stewing beef prices climbing over 21-percent annually. Foot-and-mouth disease is affecting supply. Stats SA’s Patrick Kelly says fuel prices continued to drop and are now over eleven-percent lower than a year ago:

# The Engineering Council of South Africa has formally charged and permanently deregistered an engineer linked to the fatal building collapse in George in the Western Cape in May last year. The tragedy claimed 34 lives and injured many more. The council’s disciplinary tribunal found the engineer guilty on five counts of professional misconduct and imposed the maximum sanction. The findings have been referred to police for criminal investigation. The council reaffirmed its commitment to public safety and engineering accountability.

# The Competition Tribunal has approved Canal-Plus’ (Kanaal Ploes) acquisition of MultiChoice, clearing the final regulatory hurdle. The deal includes key commitments, like boosting local ownership, supporting small, medium and micro enterprises in South Africa’s audiovisual sector, and funding local content. Canal-Plus will buy remaining shares at 125-rand each. MultiChoice’s South African operations will become a historically disadvantaged persons majority-owned entity. Canal-Plus CEO, Maxime Saada, and MultiChoice CEO, Calvo Mawela welcomed the decision as a major step in transforming and expanding Africa’s media landscape.

# The GOOD Party says it has asked the South African Social Security Agency and the Hawks to shut down a fraudulent scheme in the Western Cape. According to the party, hundreds of Worcester and Rawsonville residents are being registered for the 370-rand-a-month Social Relief of Distress grant without their knowledge or receiving any money. GOOD’s secretary general, Brett Herron, says they have submitted a complaint to SASSA and the Hawks, with a dossier of 34 affidavits from victims of the scheme:

# Rugby: Springbok coach Rassie Erasmus invited three players who were members of the triumphant Junior Springbok World Rugby Under-20 Championship squad to train with his 37-player squad for next month’s Rugby Championship matches against Australia. Bathobele Hlekani, Cheswill Jooste, and Haashim Pead will train with the group during their two-week conditioning camp in Johannesburg starting on Sunday, to orientate them into the Springbok culture.

# And the financial indicators: The dollar trades at 17-rand-53-cents and the euro at 20-rand-57-cents. One British pound costs 23-rand-75-cents and Bitcoin trades at 118-thousand-297-dollars. Gold sells at three-thousand-423-dollars-11-cents a fine ounce and Brent crude oil is quoted at 67-dollars-58-cents a barrel.

Stay tuned for more news………….