News 17:00

BULLETIN 12 July 5 pm

Good afternoon. I am……..

In this bulletin:

# The DA demands fresh action on EFF leaders’ alleged VBS corruption
# The Basic Education minister pledges support to the Carletonville accident victims
# And, cycling: Roglic withdraws from the Tour de France

# The DA has called for renewed action against EFF leaders Julius Malema and Floyd Shivambu over alleged corruption at VBS Mutual Bank. Deputy chief whip Baxolile Nodada criticised the police for not updating investigations after charges were laid in 2018. Nodada announced the DA’s referral of the police’s inaction to Parliament’s portfolio committee on Police, requesting chairperson Ian Cameron to summon them for an explanation. He cites former VBS chairperson Tshifhiwa Matodzi’s testimony as evidence of Malema and Shivambu’s alleged involvement in defrauding VBS.

# Basic Education minister Siviwe Gwarube has assured support for schools and families affected by the Carletonville accident that claimed eleven learners’ lives. Parents are identifying the bodies as DNA diagnosis begins for those burned beyond recognition. During her visit to Rocklands Primary School, which lost ten learners, Gwarube emphasised prioritising learner transport and infrastructure. She also called for swift investigations into the accident:

# The Western Cape Education Department says 121 schools urgently need attention following the severe storms that swept through the region. Nearly 300 schools have reported damages amidst ongoing rain and strong winds. The department’s Bronagh Hammond says the infrastructure team is working diligently to prioritise repairs and ensure schools can resume normal operations as soon as possible:

# Cycling: Leading contender Primoz Roglic has withdrawn from the Tour de France before the start of stage 13, the day after being involved in a crash. Roglic dropped to sixth place in the overall standings after suffering a crash in yesterday’s stage 12 and ending it with a grazed and bloodied shoulder. The 34-year-old Slovenian is now likely to turn his focus to the Vuelta a Espana, which begins on 17 August.

# The financial indicators: The dollar trades at 17-rand-97-cents and the euro at 19-rand-58-cents. One British pound costs 23-rand-30-cents and Bitcoin trades at 57-thousand-640-dollars-91-cents. Gold sells at two-thousand-401-dollars-62-cents a fine ounce and Brent crude oil is quoted at 86-dollars-3-cents a barrel.

# And finally, Sanlam’s 2024 Benchmark research has highlighted South Africa’s grim economic outlook and its psychological toll on savers. Over 60-percent of respondents do not believe the country’s challenges will be resolved in their lifetimes, citing corruption as the main issue. Financial insecurity is also a major concern, with 54-percent of pensioners worried about insufficient funds and 80-percent experiencing financial stress impacting their mental health. The survey also shows a strong preference for stokvels and default investment solutions. Sanlam calls for better governance and oversight to restore trust and ensure financial stability.

Stay tuned for more news………….