News 12:00

BULLETIN 26 March 12 pm

Good afternoon. I am……..

In this bulletin:

# Firoz Cachalia confirms that Masemola remains the National Police Commissioner amid corruption charges
# The DA says 36-thousand military veterans and pensioners are at risk of losing their healthcare cover
# And motorsport: A small modification to the energy management rules for qualifying at the Japanese Grand Prix

# Acting Police Minister Firoz Cachalia confirms that National Police Commissioner Fannie Masemola remains in office and has not been suspended, despite being issued a court summons. Masemola faces charges related to the 360-million-rand SAPS health services tender awarded to businessman Vusimuzi ‘Cat’ Matlala, under the Public Finance Management Act. Cachalia says he will meet with president Cyril Ramaphosa to discuss the matter and establish an advisory panel to guide the next steps.

# The DA is demanding immediate intervention following the revelation that the SA Military Health Service Regular Force Medical Continuation Fund is facing imminent collapse. This will threaten the healthcare coverage of approximately 36-thousand military veterans and pensioners. The DA’s Nicholas Gotsell says minister of Defence and Military Veterans, Angie Motshekga, confirmed that the fund is only 3.5-percent funded, with a monthly shortfall of 40-million-rand, constituting a staggering 50-percent deficit:

# The City of Cape Town says workforce data shows that thousands of residents from communities such as Mitchells Plain, Khayelitsha and Langa are powering the metro’s booming call centre industry. The figures show that the largest share of employees in international business process outsourcing centres live in Mitchells Plain and Khayelitsha. Mayoral committee member for Economic Growth, James Vos, says about 70-thousand Capetonians work in centres servicing international clients, while a further 30-thousand residents are employed in domestic call centres:

# Cirrus Capital economist, Oliver Diggle, says Namibia’s rejection of billionaire Elon Musk’s Starlink from operating in the country is a huge mistake. The satellite internet company has been denied both a telecommunications license and access to radio spectrum. The Communications Regulatory Authority of Namibia cited the lack of local ownership for its decision. National laws require that at least 51-percent of the shares in any telecommunications company be owned by citizens or local entities. Diggle says this is a missed opportunity for Namibia:

# Motorsport: Formula One’s governing body, the FIA, has tweaked the energy-management rules for qualifying at this weekend’s Japanese Grand Prix. The power unit manufacturers, Mercedes, Ferrari, Red Bull, Ford, Audi, and Honda, have unanimously agreed to reduce the maximum permitted energy recharge per lap for qualifying at Suzuka from nine to eight megajoules. This means drivers will harvest less energy to charge the battery per lap. The FIA says this will ensure the intended balance between energy deployment and driver performance is maintained.

# And the financial indicators: The dollar trades at 17-rand-2-cents and the euro at 19-rand-67-cents. One British pound costs 22-rand-72-cents and Bitcoin trades at 69-thousand-846-dollars. Gold sells at four-thousand-441-dollars-76-cents a fine ounce and Brent crude oil is quoted at 99-dollars-49-cents a barrel.

Stay tuned for more news………….