News 07:00

BULLETIN 1 November 7 am

Good morning. I am……..

In this bulletin:

# Paul Mashatile says the government is working with the Development Bank to help struggling municipalities
# Helen Zille joins the multilateral effort to resolve the BELA Act dispute
# And cricket: The Proteas are on track to reach the first World Test Championship final

# Deputy president Paul Mashatile says the government is working with the Development Bank of Southern Africa to secure resources to assist municipalities that are in debt. Municipalities owe creditors 116.5-billion-rand, with 75.3-percent of this debt more than 90 days overdue. In turn municipalities in 2023/2024 were owed 339.9-billion-rand. Answering questions in the National Assembly yesterday, Mashatile said it is concerning that many municipalities are in financial stress:

# The DA’s Helen Zille is among a select group of multiparty leaders assigned to address disputes around the BELA Act. The government of national unity clearing house mechanism appointed Zille, Andries Nel, Cornelius Mulder, Brett Herron, and Mdumiseni Ntuli to resolve concerns within two weeks. Deputy president Paul Mashatile emphasised setting aside party interests to find solutions benefiting all South Africans within the three-month deadline.

# The National Business Initiative reports indicate that South Africa must create approximately 60-thousand jobs over the next 25 years for a just energy transition. NBI’s Powering Futures report highlights immediate need for skilling, especially for marginalised communities, with an emphasis on solar and construction jobs. Key hubs will be Gauteng and the northern Free State by 2025.

# Western Cape Education MEC David Maynier has extended well wishes to the 2024 matric class as they write their mathematics exams today and on Monday. This is the largest exam session that supports future pathways in science, engineering, and business, amongst others. Spokesperson Kerry Mauchline emphasised the need to support matriculants during this time:

# The death toll from heavy rain and hailstorms that triggered flash floods in Spain has risen to 158, making it the deadliest episode of flooding in the country’s modern history. Valencia has been the worst-hit region with widespread destruction to infrastructure, sweeping away bridges, roads, and railway tracks and submerging farmland. Flooding was also reported in and around the cities of Murcia and Malaga. The Spanish Securities and Emergencies Department has issued weather warnings, as more rain is expected today and tomorrow.

# Cricket: The Proteas remain on track to make the World Test Championship final, after beating Bangladesh by an innings and 273 runs in the second Test in Chattogram. South Africa won the series two-nil. The Proteas are fourth in the World Test Championship standings, but victories in their upcoming four home Tests against Sri Lanka and Pakistan between now and January would see them qualify for the final at Lord’s in June. Captain Aiden Markram says to be in the mix for the finals is amazing:

# And the financial indicators: The dollar trades at 17-rand-61-cents and the euro at 19-rand-15-cents. One British pound costs 22-rand-70-cents and Bitcoin trades at 69-thousand-63-dollar-80-cents. Gold sells at two-thousand-749-dollars-9-cents a fine ounce and Brent crude oil is quoted at 74-dollars-2-cents a barrel.

Stay tuned for more news………….