News 12:00

BULLETIN 5 September 12 pm

Good afternoon. I am……..

In this bulletin:

# Efforts are underway to resolve the trade tariff disputes between South Africa and China
# A criminal syndicate stole over 100-million-rand in Postbank grants
# And, rugby: Seven changes are made to the Springboks’ match-day squad

# Efforts are underway to resolve the trade tariff disputes between South Africa and China. This follows after the South African agricultural sector voiced concerns during the SA-China Business Forum in Beijing. China is South Africa’s largest trading partner globally, but last year the value of its imports from China far outstripped exports. Minister of Trade, Industry, and Competition, Parks Tau, says efforts are ongoing to find a solution:

# A criminal syndicate exploited weak IT controls at Postbank to steal 109-million-rand in five major incidences between October 2021 and October 2022. A KPMG forensic report has revealed that the scam involved cloning Social Relief of Distress Grant cards, resetting pins and withdrawing cash at ATMs. Several Postbank employees were found to be involved in the scam. Postbank CEO Nikki Mbengashe says the gaps identified by KPMG have been closed and access controls tightened.

# Deputy minister of Justice Andries Nel says minister Thembi Simelane will not be shielded from accountability over the VBS Mutal Bank allegations. The minister is set to appear before Parliament’s portfolio committee on Justice and Constitutional Development tomorrow, to explain a suspicious loan she received when she was mayor of Polokwane, from a company owned by a man with links to VBS. Nel says the National Prosecuting Authority will act against anyone, despite their political affiliation or position held.

# Minister of Sport, Arts, and Culture, Gayton McKenzie, says a new memorandum of understanding with Basic Education minister Siviwe Gwarube will transform extracurricular activities in schools. The agreement aims to enhance access to sports and cultural programmes, especially in rural and underprivileged areas, ensuring equal opportunities for all learners. McKenzie says this agreement will foster talent development in sports and the arts, ensuring broader representation in national teams:  

# Rugby: Rassie Erasmus has made seven changes to the Springboks’ match-day squad for Saturday’s Rugby Championship Test against New Zealand in Cape Town. Canan Moodie will start on the wing and Willie le Roux at fullback. There is a new halfback pairing with scrumhalf Grant Williams earning his first start of the season along Handré Pollard. Eben Etzebeth is back in the starting lock position, while captain Siya Kolisi is fit and starting as well. Included on the bench are World Cup winners Jaden Hendrikse and Lukhanyo Am.

# And, the financial indicators: The dollar trades at 17-rand-78-cents and the euro at 19-rand-73-cents. One British pound costs 23-rand-39-cents and Bitcoin trades at 57-thousand-193-dollars-79-cents. Gold sells at two-thousand-509-dollars-24-cents a fine ounce and Brent crude oil is quoted at 73-dollars-25-cents a barrel.

Stay tuned for more news………….