News 12:00

BULLETIN 21 August 12 pm

Good afternoon. I am……..

In this bulletin:

# The rand shows strength amid the US trade tariffs
# The FF Plus says Mahlangu and Manamela must be held accountable for the Life Esidimeni tragedy
# And tennis: Sara Errani and Andrea Vavassori successfully defend their US Open mixed doubles title

# Economist Frederick Mitchell says the rand’s early depreciation following US-imposed tariffs was expected and largely priced in. While the currency initially weakened, it has since strengthened, aided by the delayed August 7 implementation. Agricultural exports face reduced US demand, partly offset by new trade deals with China, while manufacturing, especially in the Eastern Cape, remains vulnerable. Mitchell highlights that investor confidence persists, underscoring the importance of market diversification, strategic foresight, and careful fiscal management to maintain South Africa’s economic stability.

# The Freedom Front Plus says it would be a gross miscarriage of justice if former Gauteng MEC for Health, Qedani Mahlangu, and former director of mental health, Makgabo Manamela, are not held accountable for the Life Esidimeni tragedy. More than 140 psychiatric patients died in 2016 after being moved from the private Life Esidimeni facility to ill-equipped state hospitals and non-governmental organisations. The FF Plus’ Philip van Staden says they note the legal opinion recommending the prosecution of Mahlangu and Manamela:

# The National Consumer Commission says the Ford, Nissan and Citroën are recalling several models after identifying numerous defects. Giant car maker Ford is recalling more than 20-thousand vehicles in Southern Africa due to safety concerns. These include the Ranger and Everest models built between 2021 and this year. The commission’s spokesperson, Phetho Ntaba, says Nissan is recalling the Qashqai model sold between September 2021 and April last year due to battery connection problems that occurred during the production process:

# South African retail giant, Shoprite, will withdraw from Malawi after 25-years and is seeking local buyers for its Malawian business. This follows recent closures of outlets in Blantyre and Lilongwe over hygiene violations and expired goods. The exit is part of Shoprite’s strategy to scale back from non-core African markets after pulling out of Nigeria, Kenya, and Uganda. Economic challenges, including Malawi’s foreign currency shortages, have worsened operations. No timeline for the exit has been given.

# Tennis: Italians Sara Errani and Andrea Vavassori are the US Open mixed doubles champions for the second year running. They defeated the number three seeds, Iga Swiatek and Casper Ruud, in a match-tiebreak at the Arthur Ashe Stadium. This is just the fifth time a mixed doubles team has gone back-to-back at the New York major, and only the second time in four decades. Vavassori says he enjoyed playing this reimagined mixed doubles format:

# And the financial indicators: The dollar trades at 17-rand-74-cents and the euro at 20-rand-67-cents. One British pound costs 23-rand-86-cents and Bitcoin trades at 113-thousand-863-dollars. Gold sells at three-thousand-339-dollars-44-cents a fine ounce and Brent crude oil is quoted at 66-dollars-81-cents a barrel. 

Stay tuned for more news………….