News 07:00

BULLETIN 26 February 7 am

Good morning. I am……..

In this bulletin:

# Julius Malema says minister Godongwana tried to balance the budget because it’s an election year
# Phahlane and O’Sullivan will continue with their testimonies at Parliament’s ad hoc committee
# And, Bill Gates apologises to his foundation’s staff for his Epstein ties

# EFF leader Julius Malema has criticised the 2026 national budget, saying it serves the interests of global capital at the expense of the majority of South Africans. Minister of Finance Enoch Godongwana delivered the budget in Parliament on Wednesday, where he stated that government reforms and disciplined spending have helped narrow the budget deficit. Malema says the minister tried to balance the budget for a simple reason: it’s an election year:

Meanwhile, ActionSA says the scrapping of 20-billion-rand in planned tax increases shows the benefits of properly funding the South African Revenue Service. The party says improved tax collection, boosted by an additional seven-billion-rand allocation, has removed the need for VAT hikes and excessive increases in fuel levies, providing relief to households and businesses. ActionSA’s Alan Beesley warns that more reforms are needed to tackle the illicit economy and accelerate economic growth:

# Former National Police Commissioner, Khomotso Phahlane, and forensic investigator, Paul O’Sullivan, will return to Parliament’s ad hoc committee to continue giving evidence. Phalane’s testimony was incomplete due to the committee’s time constraints, while O’Sullivan’s testimony was incomplete due to his falling ill. The committee is investigating allegations of corruption in the criminal justice system. It has been granted an extension to the 31st of March to complete its work.

# Ekapa Minerals Mine in Kimberley, Northern Cape, has applied for liquidation, citing a global market downturn, coupled with recent events. Last week, five mineworkers were trapped nearly 890 metres underground following a mud rush incident. They have not been found and are presumed dead. Ekapa Minerals and Ekapa Resources say the decision to apply for liquidation was taken after careful consideration of all operational, financial, and safety factors. The company says, notwithstanding the closure of the mine, management is committed to supporting recovery efforts for the five mineworkers.

# Microsoft co-founder and billionaire philanthropist, Bill Gates, has apologised to his foundation staff for his ties to the late convicted sex offender Jeffrey Epstein. According to the Wall Street Journal, during a meeting, Gates admitted to having two affairs with Russian women, but stated he did not participate in Epstein’s crimes. Gates also said it was a huge mistake to spend time with Epstein and to bring the foundation’s executives to meetings with the late financier.

# Cricket: England’s captain, Harry Brook, isn’t sure whether he will stay in the number three batting slot despite rescuing his team in Tuesday’s T20 World Cup Super Eight match against Pakistan. He came on in the first over after Phil Salt was dismissed and scored a century to lead England to the semifinals. Brook usually bats at number five. He says it was head coach Brendon McCullum’s idea to send him up the order, and he will decide where he bats the rest of the tournament.

# And the financial indicators: The dollar trades at 15-rand-83-cents and the euro at 18-rand-71-cents. One British pound costs 21-rand-47-cents and Bitcoin trades at 68-thousand-583-dollars. Gold sells at five-thousand-188-dollars-23-cents a fine ounce and Brent crude oil is quoted at 70-dollars-81-cents a barrel.

Stay tuned for more news………….