News 11:00

BULLETIN 13 February 11 am

Good morning. I am……..

In this bulletin:

# Critical infrastructure blackouts are identified as the primary risk for South Africa
# The Freedom Front Plus says the state of financial management in ANC-controlled municipalities is shocking
# And cricket, Ruan de Swardt’s maiden half-century rescues the Proteas

# Critical infrastructure blackouts have been as identified as the number one risk in South Africa. This is according to the Allianz Risk Barometer 2024, which identifies potential risks and opportunities in 83 different economies. The second risk identified in the country is the modest employment rates. France-based Allianz Trade says the country’s unstable power supply and its poor ranking in public debt sustainability could heighten risk. It says disputes among political elites have led to social unrest, impacting the institutional framework and predictability of government action.

# The Freedom Front Plus says the Auditor-General’s report tabled in Parliament last week, paints a sombre picture of the state of financial management specifically in ANC-controlled municipalities. The report revealed that little progress has been made in recovering the loss of 5.2-billion-rand, incurred during the 2021/2022 financial year. FF Plus’, Michal Groenewald, says this is a result of, among other things, mismanagement and corruption at 170 municipalities:

# The ANC in Gauteng says the Constitutional Court ruling on the party’s cadre deployment records is a shallow victory for the DA. The court has given the ruling party five days to handover the records of its cadre deployment committee since January first 2013, when president Cyril Ramaphosa became chairperson. ANC Gauteng chairperson, Panyaza Lesufi, says the party does not deploy any member who is not qualified for the job, adding that there is a serious misunderstanding of what cadre deployment is:

# The United Nations Security Council has expressed concern about the escalating violence in the eastern Democratic Republic of the Congo. Clashes have intensified recently between the M23 rebels and the country’s army. The M23 is one of dozens of armed groups that have long plagued the country’s mineral-rich east, battling for control of land there. Guyana ambassador, Carolyn Rodrigues-Birkett, says council members have reiterated their full support for the sovereignty, unity and territorial integrity of the DRC:

# Cricket: South Africa reached 220 for six at stumps on the first day of the second Test against New Zealand in Hamilton. The Proteas were in trouble on 101 for five when Ruan de Swardt arrived on the crease. He scored a composed 55 off 135 balls, his maiden Test half-century. Along with debutant, Shaun von Berg, they shared a crucial unbeaten 70-run seventh-wicket partnership. Rachin Ravindra was the pick of the New Zealand bowlers, claiming three wickets.

# And the financial indicators: The dollar trades at 18-rand-89-cents and the euro at 20-rand-36-cents. One British pound costs 23-rand-88-cents and Bitcoin trades at 50-thousand-62-dollars-2-cents. Gold sells at two-thousand-24-dollars-28-cents a fine ounce and Brent crude oil is quoted at 82-dollars-32-cents a barrel.

Stay tuned for more news………….