News 13:00

BULLETIN 14 October 1 pm

Good afternoon. I am……..

In this bulletin:

# Two-pot retirement withdrawals exceeded 21-billion-rand in under two months
# Kgosientsho Ramokgopa says the uninterrupted power supply could grow the economy by 3.5-percent
# And rugby: The Lions improve to third on the URC log after an impressive start to the season

# The two-pot retirement system has seen withdrawals exceed 21-billion-rand in under two months. Over a million people have accessed their retirement savings, as the reform allows pension funds to be divided into vested savings, and retirement pots. The South African Revenue Service reports that more than 1.1 million tax directives for withdrawals were approved, though many applications were declined due to errors. Tax rates on withdrawals range from 18- to 45-percent.

# Minister of Energy and Electricity, Kgosientsho Ramokgopa, says uninterrupted power supply could growth the South African Economy by 3.5-percent in the next 18 to 24 months. He says this was confirmed by the Bureau for Economic Research at Stellenbosch University. Ramokgopa says over  the  past  three  years, a joint initiative of the Presidency and National Treasury, Operation Vulindlela, has accelerated  the implementation of structural economic reforms that will  bolster growth:

# The DA in Johannesburg says the shortage of health inspectors in the metro due to budget cuts is endangering the lives of Gauteng learners. The DA’s Nazley Sharif says the party discovered this during an engagement with the city’s regional director, Justice Ngalonkulu, following an incident in Soweto where primary school learners bought snacks from a spaza shop that allegedly poisoned them. She says the operational budget for health and social development was 100-million-rand 12-years ago, but had been reduced to 49-million-rand:

# A 22-year-old man from Johannesburg has been identified as a member of an elite sniper unit within the Israeli Defence Forces. According to News24, a documentary by Palestinian journalist Younis Tirawi indicates that Aaron Bayhack was allegedly involved in the unit’s Gaza operations which reportedly killed over 100 people, including civilians. The Department of International Relations and Cooperation has expressed concern about citizens fighting in the conflict, citing possible violations of international law.

# Rugby: The Lions improved from sixth to third place on the United Rugby Championship log when they won their third match of the season in Wales yesterday. The Johannesburg team beat Dragons 23-19 at Rodney Parade and now only trails Leinster and Glasgow Warriors, who have both played one match more. The Bulls improved to fourth position after beating Ospreys, while the Sharks are currently in 14th position and the Stormers in 16th after losing yet again this weekend.

# And the financial indicators: The dollar trades at 17-rand-45-cents and the euro at 19-rand-9-cents. One British pound costs 22-rand-81-cents and Bitcoin trades at 64-thousand-485-dollars-14-cents. Gold sells at two-thousand-661-dollars-44-cents a fine ounce and Brent crude oil is quoted at 77-dollars-28-cents a barrel.

Stay tuned for more news………….