NEWSFLASH NEWS AGENCY 16 November 11 am
In this bulletin:
# Eskom, PetroSA and Denel are among the SOEs that have suffered huge financial losses
# Growing concerns about the impact of the national minimum wage on farmworkers
# And Rugby: The Springbok Women’s coaching staff are looking to find the right combination for the World Cup
# Half of the 26 state-owned enterprises suffered losses last year, while eight of the profitable ones reported that profits decreased. This is according to a report by Moneyweb. Eskom, the SABC, PetroSA, Denel, and the Land Bank all suffered huge losses. PetroSA reported a loss of nearly 5.6-billion-rand compared with a loss of just less than 2.1-billion-rand in the previous year. Denel’s losses increased to nearly two-billion-rand and the Land Bank 2.1-billion-rand. The report states that financial statements show that several of the 26 larger SOEs are close to total failure.
# A labour expert says considering the disruptive impact Covid-19 has had on the agricultural sector, an increase in the national minimum wage for farmworkers might hit the industry hard. Associate in the Employment Law Practice at Cliffe Dekker Hofmeyr, Taryn York, says the impact of the minimum wage on rising input costs will once again be of great importance in recommending an increase for next year. The National Wage Commission is currently in the process of making recommendations to the minister of Employment and Labour regarding any proposed adjustment.
# The brazen alleged corruption by the very people tasked with maintaining law and order at South African borders is indicative of a lack of executive oversight at the Department of Defence and the South African National Defence Force. This is why the minister of Defence and Military Veterans, Thandi Modise, needs to take drastic action, says DA parliamentary member Kobus Marais. He says the exposé by the media of alleged corruption at the Beit Bridge Border post points to an ongoing problem of corruption:
Play sound: ENG KobusMaraisOnCorruptionSANDF
# The police in Namibia are investigating a case after two five-year-old boys were allegedly kidnapped over the weekend, but found unharmed a day later. A former journalist and Swakopmund resident, Anneli Erasmus, says the mother of one of the boys works for her and they are delighted that the children are seemingly fine. Erasmus says the mother went with the police to a house in Walvis Bay where the children were found:
Play Sound: ENG-SwakopKidnap
# Rugby: Springbok Women’s forwards coach, Eddie Myers, says they are looking to find the right combinations and players that will represent the country with distinction at the World Cup in New Zealand next year. The team is preparing to face the England Under-20 team this weekend. Myers says no player is guaranteed a place to go to the World Cup and this is a message they are conveying to them at every session:
Play sound: ENG MyersOnSquad
# Financial indicators: The dollar is trading at 15-rand-25-cents and the euro at 17-rand-35-cents. One British pound costs 20-rand-52-cents and Bitcoin trades at 60-thousand-864-dollars-6-cents. Gold is selling at one thousand-865-dollars-31-cents a fine ounce and Brent crude oil is quoted at 82-dollars-76-cents a barrel.
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