News 13:00

BULLETIN 21 August 1 pm

Good afternoon. I am……..

In this bulletin:

# Police destroy drugs and unregistered medicines worth 420-million-rand
# Saftu says workers’ pensions are at risk as the Government Pensions Administration Agency scandal deepens
# And Zelensky wants security guarantees to be in place before meeting Putin

# National police commissioner Fannie Masemola says police destroyed drugs and unregistered medicines worth 420-million-rand. Masemola was speaking during the destruction operation in Gauteng. He says the fight against drug-related crimes continue to be intensified in all provinces, in particular the gang infested areas, with a strong focus on supply reduction, as outlined in the National Drug Master Plan:

# Union federation Saftu says the one-billion-rand ghost contract scandal at the Government Pensions Administration Agency puts government workers’ pensions at serious risk. The organisation is appalled that 36-million-rand has already been paid to Shula Developers for refurbishments to a building the company does not own or lease. Saftu’s Asive Dyani says the scandal threatens the retirement security of thousands of public servants:

# 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.

Moving abroad:

# Ukrainian president Volodymyr Zelensky says he could meet his Russian counterpart, Vladimir Putin, but only after his country had received security guarantees. He mentioned Switzerland, Austria or Turkey as possible venues. Zelensky says they want an understanding of the security guarantees architecture within seven to ten days, and based on that understanding, they aim to hold a trilateral meeting also with US president Donald Trump. Zelensky says he did not want China playing a role in guaranteeing Ukraine’s security following Russia’s invasion, citing Beijing’s alleged support for Moscow.

# Rugby: The Sharks will host Western Province in a Currie Cup clash at Kings Park in Durban tomorrow. Sharks coach JP Pietersen made six changes and a positional switch to the team that lost to Griquas, with Jaco Williams returning to wing and Hakeem Kunene back in the number 15 jersey. Jean Smith comes in at flyhalf and wing Phikolomzi “PK” Sobahle returns after missing last week’s match. Liam van Wyk comes in at hooker, Le Roux Coetzee is back at lock and Tino Mavesere is on the flank.

# And the financial indicators: The dollar trades at 17-rand-71-cents and the euro at 20-rand-64-cents. One British pound costs 23-rand-85-cents and Bitcoin trades at 113-thousand-312-dollars. Gold sells at three-thousand-339-dollars-11-cents a fine ounce and Brent crude oil is quoted at 66-dollars-95-cents a barrel. 

Stay tuned for more news………….