News 06:00

BULLETIN 30 October 6 am

Good morning. I am……..

In this bulletin:

# President Ramaphosa says there has been renewed investor interest
# Rise Mzansi urges the government to cut non-essential spending
# And justice Cameron is asked to withdraw damaging statements on the Wilgenhof panel

# President Cyril Ramaphosa says South Africa is open to investment in industries as diverse as financial services, advanced manufacturing, energy and healthcare infrastructure, and mining. He addressed the SA Tomorrow and SA Macro Investment Conference. The country has the most advanced and diverse economy in sub-Saharan Africa. Ramaphosa says since the establishment of the government of national unity, there has been a renewal of investor interest in the country’s economy:

# Rise Mzansi hopes the medium-term budget policy statement will demonstrate the government of national unity’s commitment to economic growth, job creation, and fiscal responsibility. They call for increased spending on critical infrastructure like transport, water, and food production while cutting non-essential expenditures. Party leader Songezo Zibi urges Finance minister Enoch Godongwana to prioritise economic growth and job creation:

Meanwhile, the Union federation Saftu’s general secretary Zwelinzima Vavi will today lead a protest advocating for better funding in healthcare and education. The march in Cape Town, ahead of Godongwana’s medium-term budget policy statement, aims to oppose austerity measures that worsen social inequalities and jeopardise essential public services. Saftu’s Mogoshadi Maserumule argues budget cuts result in higher unemployment and poverty, particularly affecting vulnerable communities:

# Stellenbosch University chancellor justice Edwin Cameron has been asked to withdraw damaging statements he made about the panel that investigated the Wilgenhof residence. In an affidavit, Cameron alleged that the panel’s final report, which recommended Wilgenhof’s closure, was altered before it landed on the council’s desk. The residence made headlines earlier this year, after an exposé on allegedly dehumanising initiation and disciplinary practices. The panel’s head, advocate Nick de Jager, says they amended the report because of an apparent misunderstanding of their recommendations.

# Steve Bannon, the former advisor of US presidential Republican candidate Donald Trump, has been released from prison in Connecticut after spending four months behind bars. The 70-year-old Bannon, a conservative podcast host who was key to Trump’s 2016 presidential campaign, was convicted on two counts of contempt of Congress in 2022 for refusing to comply with a congressional subpoena related to a January 6 Capitol riot investigation. After his release, he is quoted as saying that if people think American politics has been divisive before, they haven’t seen anything yet.

# Rugby: Irish club Munster has announced the immediate departure of head coach Graham Rowntree. The former forward of England and Leicester Tigers led the team to the United Rugby Championship title in his first season in 2022/’23, but they are struggling this season. Munster is currently in 12th place on the log after winning only two of their first six games. The head of rugby operations, Ian Costello, will take over Rowntree’s duties while the club searches for a new permanent coach.

# And the financial indicators: The dollar trades at 17-rand-64-cents and the euro at 19-rand-10-cents. One British pound costs 22-rand-96-cents and Bitcoin trades at 72-thousand-647-dollar-21-cents. Gold sells at two-thousand-773-dollars-80-cents a fine ounce and Brent crude oil is quoted at 71-dollars-12-cents a barrel.

Stay tuned for more news………….