News 11:00

BULLETIN 6th October 11 am

Good morning. I am……..

In this bulletin:

# Ramaphosa says Eskom’s return to profitability is a testament to the value of staying the course
# The Huguenot Tunnel in the Boland remains closed following a bus fire
# And motorsport: MotoGP champion Marc Marquez has suffered a suspected collarbone fracture

# President Cyril Ramaphosa says the financial improvement at Eskom bears witness to the strength of partnerships, but also to the value of forging ahead with long-term goals, even in the face of criticism. The power utility posted an after-tax profit of 16-billion-rand for the full year ending March – its first return to profitability in eight years. In his weekly newsletter, Ramaphosa says even as Eskom continues along the path to recovery, government will continue to pursue the other pillars of the Energy Action Plan with equal vigour.

# The United Democratic Movement says the collapse of the South African Post Office is not the result of underfunding, but of deep-seated mismanagement and lack of strategic direction. Auditor-General Tsakani Maluleke has made damning findings against SAPO, obtaining yet another disclaimer of audit opinion for the sixth year during the 2024/2025 financial year. UDM’s deputy president, Nqabayomzi Kwankwa, says the Auditor General painted a disturbing picture of an institution crippled by irregular expenditure, poor governance, and breakdown of accountability:

# Western Cape authorities say the Huguenot Tunnel on the N1 in the Boland remains closed. This follows a bus fire just before midnight on Friday, which caused significant damage to the tunnel’s infrastructure. Thousands of daily travellers have been forced to seek alternative routes between Worcester and Paarl. The Western Cape Mobility Department’s acting director of Traffic Law Enforcement, Antoinette Fennie, says the tunnel cannot be reopened until structural assessments and repairs are completed:

Moving abroad:

# French president Emmanuel Macron has named a new government, nearly a month after the appointment of prime minister Sebastien Lecornu. The big appointments include Bruno Le Maire, who is the new Defence minister, at a deeply sensitive time of tension with Russia over Ukraine. A close ally of Macron, Roland Lescure, is the new Finance minister, who has the difficult task of delivering an austerity budget plan for next year. Several key ministers have remained in their posts. Opposition parties say the cabinet represents an unwelcome continuity.

# Motorsport: Newly-crowned MotoGP champion, Marc Marquez, suffered a suspected collarbone injury after crashing out of the Indonesian Grand Prix yesterday. Aprilia’s Marco Bezzecchi attempted a move up the inside of Marquez, but made contact with the Ducati rider’s rear wheel, sending both of them into the gravel. Rookie Fermin Aldeguer went on to win the race. The Spaniard, who won his record-equalling seventh MotoGP championship at the last round in Japan, says he will undergo further tests at home:

# And the financial indicators: The dollar trades at 17-rand-24-cents and the euro at 20-rand-18-cents. One British pound costs 23-rand-21-cents and Bitcoin trades at 123-thousand-665-dollars. Gold sells at three-thousand-935-dollars-51-cents a fine ounce and Brent crude oil is quoted at 65-dollars-35-cents a barrel.

Stay tuned for more news………….