News 16:00
BULLETIN 19 March 4 pm
Good afternoon. I am……..
In this bulletin:
# The MK Party urges the Electoral Court to uphold its registration
# Retailers’ confidence declined in the first quarter despite increased sales volumes
# And soccer: AZAPO calls on authorities to ensure stability at SAFA
# The uMkhonto we Sizwe party is confident in its victory, asserting its presence on the upcoming election ballot, with former president Jacob Zuma as its presidential candidate. The ANC and MK party are locked in a legal battle at the Electoral Court in Bloemfontein. The ANC seeks to overturn the MK party’s registration with the Independent Electoral Commission. MK party’s legal counsel, Dali Mpofu, argues the ANC is trying to rectify its negligence in objecting to the registration within the required timeframe:
Meanwhile, South African businesses are increasingly eyeing Canada for expansion, amidst uncertainty in the upcoming general elections. Canadian immigration consultant Nicholas Avramis says there has been a notable 31-percent increase in Canadian work permit applications processed for South Africans in 2023. Avramis says many South Africans are exploring opportunities abroad amidst concerns over ongoing economic challenges and potential political uncertainties at home. He highlights Canada’s Start-up Visa programme as a popular avenue for innovative entrepreneurs seeking to establish ventures overseas.
# Retailers’ confidence has declined in the first quarter despite increased sales volumes. This could be attributed to consumer reluctance in purchasing big-ticket items amid the upcoming national election. The Bureau for Economic Research’s latest survey revealed a dip in retailer confidence levels to 34 index points, with profitability remaining low. However, non-durable goods retailers saw improved volume growth, while textiles, clothing, and footwear retailers reported re-accelerated sales volumes. The outlook suggests a potential recovery in retail trade from the third quarter onwards, contingent on political and economic stability post-election.
# ActionSA has raised concerns over high dropout rates in South Africa, urging government action. Statistics South Africa’s data shows increased absenteeism, with nearly nine-percent of eleven-year-olds and close to three-percent of 18-year-olds out of school. Factors include poverty, teenage pregnancies, and lack of interest, impacting youth unemployment and socio-economic issues. ActionSA’s Team Fix SA member for Basic Education, Tsholofelo Maforah, has pledged holistic policies for all children to attend school:
# Soccer: The Azanian People’s Organisation is calling upon authorities to sober up and ensure stability at the South African governing body, Safa, and not allow the demise of the sport in the country. The party says it is watching with concern the developments at Safa House and bemoans the self destabilisation of soccer by the mother body. AZAPO’s spokesperson, Jabu Rakwena, says this negativity comes against the backdrop of the men’s national team having shown tremendous improvement at the recent Africa Cup of Nations:
# And the financial indicators: The dollar trades at 18-rand-98-cents and the euro at 20-rand-59-cents. One British pound costs 24-rand-9-cents and Bitcoin trades at 63-thousand-114-dollars-85-cents. Gold sells at two-thousand-152-dollars-2-cents a fine ounce and Brent crude oil is quoted at 86-dollars-89-cents a barrel.
Stay tuned for more news………….