News 12:00

NEWSFLASH NEWS AGENCY 14 November 12 pm

Good afternoon. I am……..

In this bulletin:

# An energy expert says minister Gordhan should have been fired long ago

# Motorsport: Mercedes’ boss says he understands the reasons for the poor performance in Brazil

# And the Shisa Nyama Index reveals a 40-percent spike in the potato price hits townships

# Public Enterprises minister Pravin Gordhan should have been fired or stepped down long ago as all the state-owned entities under his watch are failing. This is according to energy expert Mthunzi Luthuli. His comments echo that of the DA, which said that in the past five years, Gordhan has triggered unprecedented governance chaos at executive and board levels in SOEs. Luthuli says Gordhan keeps giving excuses for the poor performances of SOES including state capture and geopolitical forces, however, what is clear is that he has been an ineffective minister.

# Metalworkers union Numsa is set to picket at Sylvania Metals in Roodepoort, Gauteng, today, alleging the mining company is protecting a manager facing accusations of sexual harassment. The union demands the manager’s immediate suspension for an impartial inquiry by the Commission for Conciliation, Mediation and Arbitration. They criticise the company’s use of an allegedly biased service provider. Numsa spokesperson Phakamile Hlubi-Majola claims a climate of fear at Sylvania Metals, citing unjust dismissals and denial of representation rights:

Play sound: ENG PhakamileOnPicket

# The South African Weather Service has warned of temperatures of between 30 and 40 degrees for the City of Cape Town and other parts of the province over the next two days. The city’s Disaster Risk Management Centre spokesperson, Sonica Lategan advised the public to take precautions to mitigate any potential health, and warned  about the general safety impacts the weather might have:

Play sound: ENG SonicaonTemperatures

# Motorsport: Mercedes boss Toto Wolff says they have a better understanding of the mistakes that led to their poor performance at the Brazilian Grand Prix. Lewis Hamilton finished seventh and George Russell had to retire the car due to overheating. Wolff says they have been hard at work to identify the wrong turn they took with the set-up in Sao Paulo, following promising performances in the US and Mexico. He adds that they will need to be better in Las Vegas this weekend, as they look to secure second position in the Constructors’ Championship.

# The financial indicators: The dollar trades at 18-rand-76-cents and the euro at 20-rand-9-cents. One British pound costs 23-rand-5-cents and Bitcoin trades at 36-thousand-729-dollars-7-cents. Gold sells at one-thousand-945-dollars-25-cents a fine ounce and Brent crude oil is quoted at 82-dollars-75-cents a barrel.

# And finally: Bloomberg’s Shisa Nyama Index shows the cost of potatoes in South Africa experienced a staggering 40-percent month-on-month increase last month. The index tracks essential barbecue ingredients in townships and reveals a significant impact on the overall cost of key food items. The overall index rose sharply to 17-percent last month, highlighting the broader economic implications of the surge, compared to 12.5-percent in September. The economic shift impacts the cherished culture of sharing chips, which is a South African staple. As annual inflation dips to 5.4-percent, food inflation remains high at 8-percent.

Stay tuned for more news………….