News 18:00

BULLETIN 6 May 6 pm

Good afternoon. I am……..

In this bulletin:

# Helen Zille says the City of Johannesburg is facing a financial meltdown as debt tops 25-billion-rand
# The Black Conveyancers Association calls for reform in property sector inequality
# And, America and Iran are closing in on a memorandum to end the war

# The DA’s mayoral candidate for Johannesburg, Helen Zille, says the City is effectively bankrupt. This after Finance minister Enoch Godongwana revealed in a letter to mayor Dada Morero that the metro owes creditors 25-billion-rand while holding only four-billion-rand in cash, leaving a shortfall of more than 21-billion-rand. Zille told the media the dire financial position is at the heart of failing service delivery, including persistent power and water outages:

ActionSA says National Treasury also raised alarm over the City of Johannesburg’s financial management, warning of governance failures, rising debt, and non-compliance with regulations. The party’s Mongezi Ntsebenzo says Finance Minister Enoch Godongwana instructed the City to halt a salary agreement deemed unaffordable. He says they warn that commitments must be lawful and sustainable and call for urgent action to stabilise the city and protect both municipal workers and residents:

# The Black Conveyancers Association has reiterated that inequality persists in South Africa’s property market. Second deputy president, Pumla Mncwango, warns that black conveyancers remain sidelined from high-value deals. Mncwango says structural barriers favour established players hence the association is calling for reforms and stronger implementation of the Legal Sector Code to ensure fair access and inclusive growth:

# America and Iran are closing in on a memorandum to end the Middle Eastern war. US media outlet Axios reports the White House believes it is closing in on a one-page memorandum to end the hostilities. The report came hours after US president Donald Trump paused a three-day-old naval mission to reopen the Strait of Hormuz. It caused global oil prices to plunge, with benchmark Brent crude futures falling more than eight-percent to around 100-dollar a barrel.

# Rugby: Welsh fullback Leigh Halfpenny’s career will end at the conclusion of the current season. He played the last of his 101 Tests for Wales in 2023 and also participated in three British and Irish Lions’ tours. The 37-year-old will end his club career at Cardiff after also representing Toulon, Scarlets, the Crusaders en Harlequins. He says playing for his union had been a childhood dream. Cardiff Rugby’s life president, former Lions player Gareth Edwards, describes Halfpenny as one of the game’s greatest players.

# And the financial indicators: The dollar trades at 16-rand-40-cents against the rand and the euro at 19-rand-27-cents. One British pound costs 22-rand-31-cents and Bitcoin trades at 81-thousand-377-dollars. Gold sells at four-thousand-707-dollars-68-cents a fine ounce and Brent crude oil is quoted at 100-dollars-96-cents a barrel.

Stay tuned for more news………….