News 12:00

BULLETIN 5 JUNE 12 pm

Good afternoon. I am……..

In this bulletin:

# Minister Zizi Kodwa is arrested and set to appear in court on corruption charges 
# Fitch warns against an ANC-EFF-MK coalition government 
# And motorsport: Sergio Perez is to continue racing for Red Bull until 2026

# Sports, Arts and Culture minister Zizi Kodwa has been arrested and is expected to appear in the Palm Ridge Magistrate’s Court in Gauteng today. This is in connection with him allegedly receiving 1.6-million-rand in bribes. It is alleged that he received money and benefitted from luxury accommodation, loans and other gratuities from EOH while the company was bidding for government tenders. Kodwa admitted to receiving payments and luxury accommodation from EOH executive Jehan Mackay, but denied it was linked to influencing tenders.

# Ratings agency Fitch has warned that South Africa’s debt trajectory would face additional risks if the ANC enters into arrangements that rely on support from the EFF or MK Party. The ANC failed to secure an outright majority in the general elections, leaving it in need of forming a coalition government with opposition parties. Fitch says an ANC-EFF-MK coalition could weaken investor confidence or erode governance. It adds that support for the ANC from the DA will likely result in the least significant changes to key credit metrics.

# The Department of Justice has welcomed a report by the office of the Public Protector highlighting administrative failures in handling gender-based violence cases. Spokesperson Chrispin Phiri says the report addresses concerns about the treatment of women seeking court assistance. Phiri emphasises prioritising justice for GBV survivors, including the use of electronic protection orders. He stresses the importance of implementing remedial actions to better protect and support gender-based violence survivors:

# Motorsport: Red Bull has extended Sergio Perez’s contract for two years, which will see him race for the Formula One team until the end of the 2026 season. The 34-year-old Mexican joined the world champions from Racing Point, now Aston Martin, back in 2021. Perez finished a career-best second behind teammate Max Verstappen in the drivers’ championship last season, helping Red Bull achieve a maiden one-two result alongside the constructors’ title.

# The financial indicators: The dollar trades at 18-rand-76-cents and the euro at 20-rand-40-cents. One British pound costs 23-rand-97-cents and Bitcoin trades at 71-thousand-67-dollars-33-cents. Gold sells at two-thousand-333-dollars-21-cents a fine ounce and Brent crude oil is quoted at 77-dollars-75-cents a barrel.

# And finally: SANParks says the Addo Elephant National Park, outside Gqeberha in the Eastern Cape, has made headway in making improvements to mitigate its impact on the environment. Today marks World Environment Day. SANParks spokesperson, JP Louw, says in recent months various solar-powered projects have been commissioned throughout Addo, and a biofiltration system is recycling up to 80-percent of its busiest camp’s grey water:

Stay tuned for more news………….