News 08:00

BULLETIN 14 October 8 am

Good morning. I am……..

In this bulletin:

# ActionSA wants the Road Accident Fund’s former board charged for unrecorded liabilities
# The British prime minister says they can play a role in decommissioning Hamas’s weaponry
# And athletics: The nominees for Track Athlete of the Year 2025 have been revealed

# ActionSA says it is concerned that the Road Accident Fund is completely insolvent, with unrecorded liabilities exceeding 500-billion-rand. This amounts to nearly one-fifth of the national government’s entire annual budget. ActionSA’s Matthew George says unrecorded liabilities are one of the most serious financial misstatements by any state entity in democratic South Africa. He says they are calling for the RAF’s former board of executives to be charged for dereliction of duty:

Meanwhile, Parliament’s Standing Committee on Public Accounts will hear evidence from witnesses relating to the Road Accident Fund’s procurement and financial management processes this week. Three witnesses will testify today. The committee last week heard testimony from the Special Investigating Unit, which revealed systemic breaches of fiduciary duty, procurement irregularities, and financial mismanagement. The SIU also identified multiple contraventions of the Public Finance Management Act, including default judgments, totaling approximately 4.78-billion-rand.

# National Treasury has confirmed that eThekwini Municipality’s financial standing is sound, based on a review of financial reports and audited statements. The findings show consistent revenue growth and highlight the need for practical measures to maintain long-term sustainability. Key indicators of eThekwini’s financial strength include adoption of a fully funded budget, timely payment of creditors within 30 days, and employee-related costs at 25.3-percent, well within the Treasury’s benchmark. Mayor Cyril Xaba has welcomed the findings and reaffirmed the metro’s commitment to sound financial stewardship.

# Prime minister Keir Starmer says the United Kingdom can play a part in monitoring the Gaza ceasefire, but also decommissioning the capability of Hamas and its weaponry. The militant group has previously refused to lay down its weapons, saying it would only do so once a Palestinian state had been established. Starmer says it is important that there are no missteps in the implementation of the ceasefire:

# Athletics: Five male and five female athletes have been nominated for the World Athletics Awards track athlete of the year. American trio Noah Lyles, Rai Benjamin, and Cordell Tinch, together with Kenya’s Emmanuel Wanyonyi and Jimmy Gressier of France, have been nominated for the men’s track athlete of the year. In the women’s category, Kenyan duo Beatrice Chebet and Faith Kipyegon, American duo Melissa Jefferson-Wooden and Sydney McLaughlin-Levrone, and the Netherlands’ Femke Bol have been nominated. Nominees for the remaining categories will be announced later this month.

# And the financial indicators: The dollar trades at 17-rand-30-cents and the euro at 20-rand-3-cents. One British pound costs 23-rand-9-cents and Bitcoin trades at 113-thousand-539-dollars. Gold sells at four-thousand-156-dollars-90-cents a fine ounce and Brent crude oil is quoted at 63-dollars-21-cents a barrel.

Stay tuned for more news………….