News 06:00

BULLETIN 17 February 6 am

Good morning. I am……..

In this bulletin:

# Business Leadership SA blames illicit trade for the destruction of legitimate manufacturing markets
# SEIFSA is concerned about the Competition Commission’s raid on four steel companies
# And rugby: Rassie Erasmus welcomes the extra Test against the Wallabies in Australia

# Business Leadership South Africa says illegal trade is hurting local manufacturers and threatening jobs. While electricity reforms have been clarified, factories are closing because of cheap imports and weak enforcement. In her weekly newsletter, the organisation’s CEO, Busisiwe Mavuso, urged the government to finalise electric vehicle policies, enforce anti-dumping rules, review tariffs, and improve trade diplomacy. Mavuso added that immediate, coordinated government-business action is essential to safeguard jobs and economic growth.

# The agricultural organisation TLU SA says urgent action is needed to stop the spread of foot-and-mouth disease and protect the agricultural sector. The organisation is fully engaged in the foot-and-mouth disease industry coordinating council to protect farmers’ interests and ensure livestock vaccinations are rolled out quickly. TLU SA’s Bennie van Zyl says government red tape and delays are slowing vaccination efforts and putting farmers, food security, and the economy at risk:

# The Steel and Engineering Industries Federation of Southern Africa has expressed concern about the Competition Commission’s recent raid on four steel production companies. The raided premises of the four scrap metal purchasing companies are operating in Germiston, Nigel, Vanderbijlpark, and Hammanskraal. The companies have allegedly engaged in fixing the purchase price of shredded or processed scrap metal. Seifsa says it is concerned about the potential disruption that such processes may create across the sector, emphasising that it does not condone anticompetitive behaviour.

⁠# The MEC for KwaZulu-Natal Cooperative Governance and Traditional Affairs, Thulasizwe Buthelezi, has expressed concern over the possible liquidation of Tongaat Hulett, warning it could harm rural communities and local government finances. The department’s Senzelwe Mzila warns that the collapse of the 134-year-old sugar producer would threaten thousands of rural jobs and place severe strain on local municipalities that rely on revenue linked to the company and its suppliers:

# Global law firm Herbert Smith Freehills Kramer says mergers and acquisitions activity in Africa is expected to remain strong this year despite global economic uncertainty. The firm’s latest report shows deal values increased significantly last year, with outbound African deals rising by 85-percent. South Africa remains the leading hub for mergers and acquisitions on the continent, accounting for the largest share of deal value. The firm says investor confidence remains strong, particularly in sectors such as energy, finance, and consumer goods.

# Rugby: Springbok coach Rassie Erasmus says the one-off Test against the Wallabies in Australia in September will give him a chance to hand more Test caps in preparation for next year’s World Cup in the country. The Mandela Plate encounter will be played in Perth on 27 September. Erasmus says, although this adds to an already full calendar, including the new Nations Championship and the All Blacks’ tour of South Africa, they also plan a warm-up match against the Barbarians before the start of the Test season.

# And the financial indicators: The dollar trades at 15-rand-94-cents and the euro at 18-rand-90-cents. One British pound costs 21-rand-74-cents and Bitcoin trades at 68-thousand-610-dollars. Gold sells at four-thousand-993-dollars-14-cents a fine ounce and Brent crude oil is quoted at 68-dollars-13-cents a barrel.

Stay tuned for more news………….