News 12:00

BULLETIN 20 June 12 pm

Good afternoon. I am……..

In this bulletin:

# The Reserve Bank warns geopolitical tensions pose a threat to financial stability
# Three properties belonging to the fugitive Gupta family will be auctioned off
# And ten critically endangered black rhinos are translocated from South Africa to Mozambique

# The South African Reserve Bank has warned that rising geopolitical tensions and global policy uncertainty pose major risks to the country’s financial sector. In its Financial Stability Review, the bank states that trade disputes and conflicts like the Israeli-Iranian crisis are driving up oil prices and investor caution. The review indicates this increases the risk of capital outflows and higher state borrowing costs. The central bank also completed its first climate risk stress test, finding major banks moderately prepared.

# Three properties belonging to the Gupta family, including the infamous Saxonwold compound in Johannesburg, are set to go under the hammer next month. The properties were under a Gupta-owned company in business rescue, Confident Concept. Bidders are required to pay hefty deposits of 250-thousand- to 500-thousand-rand. The National Prosecuting Authority has stated it will submit another application to have the brothers extradited to South Africa to be prosecuted for allegedly conniving with political elites to loot state funds. 

# Education activist Hendrick Makaneta has urged Basic Education minister Siviwe Gwarube to clarify newly issued guidelines under the amended Basic Education Laws Amendment Act. The South African Democratic Teachers’ Union says the guidelines are not legally binding, a stance reportedly confirmed by Gwarube. Makaneta warns the lack of clarity is causing confusion among schools and teachers. He calls for urgent, inclusive consultation to ensure consistency and trust in education leadership:

# Ten critically endangered black rhinos have been successfully translocated from South Africa to Mozambique’s Zinave National Park this week. The five bulls and five cows were donated by Ezemvelo KZN Wildlife in collaboration with Mozambique’s National Administration for Conservation Areas and the Peace Parks Foundation. The foundation’s Antony Alexander says the idea of the translocation was to secure the first founder population of black rhinos since the animals became locally extinct five decades ago:

# Olympic Games: Kirsty Coventry, who takes over as president of the International Olympic Committee on Monday, says she regards collaboration with stakeholders as the most important issue in her tenure. The former Olympic swimming champion from Zimbabwe was elected in March to succeed Thomas Bach of Germany. The 41-year-old becomes the IOC’s first female leader. Coventry says it’s important to be able to listen to everyone’s opinions, but sherealises she would have to take decisions, and the responsibility that comes with the role.

# And the financial indicators: The dollar trades at 17-rand-99-cents and the euro at 20-rand-72-cents. One British pound costs 24-rand-25-cents and Bitcoin trades at 106-thousand-421-dollars. Gold sells at three-thousand-349-dollars-90-cents a fine ounce and Brent crude oil is quoted at 75-dollars-78-cents a barrel.

Stay tuned for more news………….