News 15:00

BULLETIN 9 October 3 pm

Good afternoon. I am……..

In this bulletin:

# The Special Investigating Unit raids the property of a business tycoon linked to the Tembisa Hospital corruption
# The national police commissioner admits SAPS is under pressure amid rising crime and limited resources
# And soccer: Cristiano Ronaldo becomes the sport’s first dollar billionaire

# The Special Investigating Unit is raiding the home of a prominent business tycoon in Sandton, Johannesburg, following a three-year probe into corruption at the Tembisa Hospital in Gauteng. According to SABC News, the businessman allegedly siphoned 820-million-rand over two years through fraudulent contracts using 41 companies. The SIU has since identified three major syndicates involved in the scheme, which reportedly misappropriated more than two-billion-rand in public funds.

# National police commissioner Fannie Masemola says the South African Police Service is under immense pressure as crime continues to rise while resources remain limited. Testifying before Parliament’s ad hoc committee investigating political interference in police cases, Masemola said policing has become more complex since the Covid-19 pandemic, with unemployment and social challenges driving crime. He acknowledged internal corruption and infiltration within the police while efforts are underway to strengthen Crime Intelligence and improve accountability through lifestyle audits:

# President Cyril Ramaphosa has called on the World Trade Organisation to regulate trading tariffs and enhance multilateral trade systems to prevent their weaponisation. Speaking at the European Union’s Global Gateway Forum in Brussels, Belgium, he emphasised that the organisation remains the only body capable of managing global trade divergences. Ramaphosa reaffirmed South Africa’s commitment to working with the EU to promote better trade relations:

# Indian prime minister Narendra Modi told his British counterpart Keir Starmer that relations had made significant progress as they pledged to unlock unparalleled economic opportunities. Starmer is on his first visit to India as premier, accompanied by a 125-member delegation, after the two countries signed a trade deal in London in July. Under the accord, India will slash tariffs on imports of British goods such as whisky, cosmetics and medical devices, while Britain will reduce duties on clothing, footwear and food products, including frozen prawns from India.

# Soccer: Portugal’s captain, Cristiano Ronaldo, has been confirmed as the sport’s first dollar billionaire. Financial information and media firm Bloomberg had measured the 40-year-old player’s wealth for the first time and values his net worth at 1.4-billion-dollar – or 24.3-billion-rand. This includes salaries, investments and endorsements, including a decade-long sponsorship by Nike worth 308-million-rand per year. Ronaldo became the best-paid player in history when he joined Saudi team Al-Nassr for over four-billion-rand per season in 2022.   

# And the financial indicators: The dollar trades at 17-rand-10-cents and the euro at 19-rand-86-cents. One British pound costs 22-rand-87-cents and Bitcoin trades at 122-thousand-744-dollars. Gold sells at four-thousand-41-dollars-20-cents a fine ounce and Brent crude oil is quoted at 65-dollars-80-cents a barrel.

Stay tuned for more news………….