News 15:00
BULLETIN 19 April 3 pm
Good afternoon. I am……..
In this bulletin:
# The High Court sets aside the five-billion-rand Thuja Capital UIF contract dispute
# The NCOP committee sets the date for further consideration of the Pension Funds Amendment Bill
# And rugby: Frans Malherbe will captain the Stormers against the Ospreys
# The High Court in Pretoria has set aside the controversial five-billion-rand contract awarded by the Labour Dapartment’s Unemployment Insurance Fund to businessman Mthunzi Mdwaba of Thuja Capital. Acting Judge Japie Maritz also ordered Mdwaba to cease spreading corruption allegations against Employment and Labour minister Thulas Nxesi. Nxesi initiated legal action in November last year to invalidate the contract. Mdwaba previously accused Nxesi, Finance minister Enoch Godongwana, Higher Education, Science and Technology minister Blade Nzimande, and ANC secretary-general Fikile Mbalula of soliciting a 500-million-rand bribe.
# Parliament seeks to accelerate adoption of legislation, including the Pension Funds Amendment Bill, allowing early access to pension funds. The National Council Of Provinces plans to finalise the bill before next month, incorporating amendments to include various pension funds. This follows minister Gondongwana’s 2022 budget speech introducing the “two-pot” system. Despite concerns from some companies about readiness for the September 1 implementation, the bill is making progress, with the NCOP scheduling further consideration next week.
# Cosatu says Volkswagen’s four-billion-rand investment in its Kariega assembly plant in the Eastern Cape is a sign that government efforts with industry and labour through the Automotive Masterplan, are bearing fruit. Whilst the federation welcomes these positive developments, it says the country has much more to do. Cosatu’s Matthew Parks says government dare not rest while South Africa has a 41-percent unemployment rate and an economy in need of active support and facing many headwinds:
# The South African Police Service has finalised the recruitment for the first batch of ten-thousand recruits for the 2024/25 financial year. National spokesperson Athlenda Mathe says the first batch of four-thousand-500 are set to begin training on Monday. The second batch of five-thousand-500 recruits will start training in January next year. Mathe says over one-million applications were received for this recruitment cycle:
# Rugby: Experienced Springbok prop Frans Malherbe will captain the Stormers in tomorrow’s United Rugby Championship match against Ospreys in Cape Town. Gary Porter and Adré Smith form an all-new second row, while Evan Roos is joined by flanks Nama Xaba and Hacjivah Dayimani in the loose trio. The centre partnership of Dan du Plessis and Wandisile Simelane, which impressed against Edinburgh earlier in the season, is reunited. Paul de Wet and Damian Willemse are set to be unleashed from the bench. Kick-off is at 7:15 pm.
# And the financial indicators: The dollar trades at 19-rand-20-cents and the euro at 20-rand-44-cents. One British pound costs 23-rand-87-cents and Bitcoin trades at 64-thousand-776-dollars-65-cents. Gold sells at two-thousand-374-dollars-94-cents a fine ounce and Brent crude oil is quoted at 86-dollars-27-cents a barrel.
Stay tuned for more news………….