News 11:00

BULLETIN 24 November 11 am

Good morning. I am……..

In this bulletin:

# Deputy Finance minister Masondo says the G20 expenditure must be weighed against long-term gains
# The US Secretary of State says significant progress was made in discussions over the Ukrainian peace plan
# And soccer: Banyana Banyana’s coach will assess individual performances in the friendly against Morocco

# Deputy Finance minister David Masondo says South Africa’s expenditure on the G20 leaders’ summit must be viewed as an investment, not just an expense. Government has not revealed the final expenditure, but in September, the Department of International Relations and Cooperation’s estimate was around 700-million-rand. Two weeks ago, minister of Finance Enoch Godongwana appropriated an extra 100-million-rand to the G20 budget. Masondo says the long-term benefits of the summit include enhanced exposure, potential investment inflows, and elevated diplomatic status.

Meanwhile, the ANC says the summit has showcased South Africa’s capacity to lead, convene and facilitate meaningful dialogue among the world’s major leaders and economies. The summit, which concluded in Johannesburg yesterday, was held on African soil for the first time. ANC national spokesperson, Mahlengi Bhengu, says they welcome the adoption of the leaders’ declaration, which reflects a united global commitment to transforming the international financial architecture, advancing a just energy transition, and strengthening continental value-chains:

# ActionSA rejects what it views as politically motivated suspensions in the City of Ekurhuleni, amid serious allegations raised at the Madlanga commission of inquiry. This follows the suspension of Human Resources head, Linda Gxasheka, and Corporate Legal Services’ Kemi Behari by mayor Nkosindiphile Xhakaza’s administration. ActionSA’s Zwelithini Mtshali says the suspensions appear to be politically influenced, and may be perceived as an alleged attempt to purge officials whose decisions were shaped within a politically charged environment:

# US Secretary of State, Marco Rubio, says significant progress has been made in talks to finalise a US-proposed peace plan to end the Russian-Ukrainian war. He met with a Ukrainian delegation led by president Volodymyr Zelensky’s chief of staff, Andriy Yermak, in Geneva, Switzerland, yesterday. The draft 28-point peace plan includes Kyiv ceding territory it controls in the east of the country, and halving the size of its military. Rubio says the items that remain open are not insurmountable:

# Soccer: Banyana Banyana coach, Desiree Ellis, says she will use the international friendly match against Morocco next Tuesday to assess individual performances. This is in preparation for the 2026 Women’s Africa Cup of Nations. South Africa officially qualified for the continental tournament with a 1–0 victory over the Democratic Republic of Congo last month. Ellis has picked a 26-player squad to travel to Morocco on Friday. She says the friendly match will also provide players with valuable exposure to different tactical setups and competitive match intensity ahead of WAFCON.

# And the financial indicators: The dollar trades at 17-rand-32-cents and the euro at 19-rand-95-cents. One British pound costs 22-rand-68-cents and Bitcoin trades at 86-thousand-728-dollars. Gold sells at four-thousand-and-55-dollars-76-cents a fine ounce and Brent crude oil is quoted at 61-dollars-95-cents a barrel.

Stay tuned for more news………….