News 07:00

BULLETIN 27 February 7 am

Good morning. I am……..

In this bulletin:

# The International Monetary Fund says the public’s tax money should be spent wisely
# The Wilgenhof Alumni Association and Stellenbosch University reach a settlement
# And golf: Dean Burmester is ready to defend his SA Open title

# International Monetary Fund managing director, Kristalina Georgieva, is calling on emerging economies to strengthen their capacity to collect tax revenues and improve spending efficiencies, before proposing sweeping tax hikes. She addressed a meeting of G20 Finance ministers and central bank governors in Cape Town on Wednesday. Georgieva says the quality of public spending impacts not only economic well-being but also influences public support for paying taxes:

# The National Assembly’s designation of impeached former Western Cape judge president John Hlophe to the Judicial Service Commission was flawed and legally irrational. This is according to senior advocate Geoff Budlender. The Western Cape High Court is this week hearing a challenge by the DA, Freedom Under Law and Corruption Watch, which contends that Parliament acted unlawfully and unconstitutionally when it designated Hlophe to the JSC. Budlender, representing Corruption Watch, says Hlophe’s conduct renders him unsuitable to serve on the JSC.

# Minister of Human Settlements Thembi Simelane has deployed a team to assist KwaZulu-Natal flood victims with emergency housing. The affected areas include Lamontville, Umlazi, and parts of the uGu and King Cetshwayo districts. The team will register affected households, and determine the best interventions, including rebuilding, relocation, or providing building materials. Ministry spokesperson Tsekiso Machike says they are working with provincial authorities to ensure families receive adequate shelter:

# Stellenbosch University and the Wilgenhof Alumni Association have settled their dispute over practices at the Wilgenhof residence. The university had concerns about unacceptable practices and controversial archival rooms found at the residence. Both parties have acknowledged the impact of media portrayal and apologised for the harm caused to the reputation of Wilgenhof alumni and residents. The settlement will allow for continued improvements at Wilgenhof and help create a better future for the residence. The agreement ends the litigation initiated by the association against the university.

# The Rwandan government says the UK’s decision to suspend some of its financial aid is regrettable. The UK says it is against Rwanda’s support for the M23 rebels, who captured two cities in the eastern Democratic Republic of Congo. More than seven-thousand people have died and thousands have fled their homes since the conflict escalated in January. Rwanda’s Foreign ministry says the measures by the UK do nothing to contribute to achieving a sustainable political solution to the conflict in the DRC.

# Golf: LIV Golf trio Dean Burmester, Charl Schwartzel and Branden Grace are part of a strong field for the SA Open Championship, which gets underway at the Durban Country Club today. A field of 147 golfers will vie for the 27.6-million-rand grand prize fund. South Africans have won the last six editions of the competition. The field also includes England’s Chris Paisley and Andy Sullivan. Defending champion Burmester says he is excited to test his game against world-class players:

# And the financial indicators: The dollar trades at 18-rand-41-cents and the euro at 19-rand-29-cents. One British pound costs 23-rand-31-cents and Bitcoin trades at 84-thousand-889-dollar-50-cents. Gold sells at two-thousand-914-dollars-23-cents a fine ounce and Brent crude oil is quoted at 72-dollars-71-cents a barrel.

Stay tuned for more news………….