News 18:00

BULLETIN 20 November 6 pm

Good afternoon. I am……..

In this bulletin:

# The South African Reserve Bank cuts the repo rate by 25 basis points to 6.75-percent
# President Ramaphosa highlights the urgent global challenges at the G20 Social Summit
# And, the lock RG Snyman starts his 50th Test on the bench

# The South African Reserve Bank’s Monetary Policy Committee has unanimously agreed to cut the repo rate by 25 basis points to 6.75-percent, citing an improved inflation outlook. Governor Lesetja Kganyago told the media the move reflects steadier economic growth, stronger household spending, and easing inflation pressures, while the central bank remains committed to its new three-percent inflation target:

# President Cyril Ramaphosa says the G20 Leaders Summit convenes amid global uncertainty, including political polarisation, conflict, poverty, and climate change impacts. Speaking at the G20 Social Summit, Ramaphosa stressed that inequality, financing imbalances, and limited access to resources hinder progress towards the 2030 Sustainable Development Goals. He emphasised that South Africa’s G20 Presidency aims to elevate developing economies’ addressing poverty, inequality, and underdevelopment:

# In commemoration of World Children’s Day, Build One South Africa deputy leader Nobuntu Hlazo-Webster has handed a memorandum to Basic Education minister Siviwe Gwarube, calling for urgent action to fix the education crisis. She highlighted underfunded schools, unsafe classrooms, and a lack of books and resources, calling for higher pass standards and better access to maths. Hlazo-Webster says every child must have the chance to learn in a safe and well-equipped school.

# Chinese premier Li Qiang is in Zambia for a two-day visit – the first time in 28 years as the country emerges from a financial crisis. China is Zambia’s largest official creditor with debt of 98,6-billion-rand. Zambia needs fresh investment for its mining sector, infrastructure network and production capacity, while China wants to boost exports of tractors, electrical equipment and construction vehicles. Li will attend the G20 leaders’ summit in Johannesburg this weekend.

# Rugby: Towering lock RG Snyman will start his 50th Test for the Springboks on the bench when they take on Ireland in Dublin on Saturday. Head coach Rassie Eramus announced an experienced squad for the encounter, touted as South Africa’s most difficult one of the tour. It shows only two changes to the team that beat France recently, with Ruan Nortjé being promoted to lock in the starting team in place of suspended Lood de Jager, and Canan Moodie playing wing in place of injured Kurt-Lee Arendse.

# And the financial indicators: The dollar trades at 17-rand-20-cents and the euro at 19-rand-83-cents. One British pound costs 22-rand-50-cents and Bitcoin trades at 90-thousand-676-dollars. Gold sells at four-thousand-78-dollars-73-cents a fine ounce and Brent crude oil is quoted at 63-dollars-56-cents a barrel.

Stay tuned for more news………….