News 13:00

BULLETIN 16 May 1 pm

Good afternoon. I am……..

In this bulletin:

# The Financial Intelligence Centre cracks down on estate agents and lawyers amid grey list pressure
# The Supreme Court rejects the deportation appeal of Thabo Bester’s former lover
# And a rare South African blue diamond sells for 383-million-rand at an auction

# The Financial Intelligence Centre has intensified inspections and imposed sanctions on estate agents and legal practitioners for failing to submit mandatory risk and compliance reports. These sectors are among the final obstacles to South Africa’s removal from the Financial Action Task Force grey list. While compliance rates have improved to approximately 70-percent, the FIC insists on near-total adherence. Non-compliant entities face fines between ten-thousand-and 50-thousand-rand. The FIC emphasizes that full compliance is crucial for enhancing risk assessments and facilitating South Africa’s exit from the grey list.

# The Supreme Court of Appeal has dismissed Nandipha Magudumana’s bid to have her 2023 deportation from Tanzania declared unlawful. The former lover of murderer Thabo Bester claimed she was abducted, but the court upheld the Free State High Court ruling that she consented to her return. Magudumana faces charges linked to Bester’s escape from prison, including fraud and violating a corpse. Spokesperson Mthunzi Mhaga confirmed the National Prosecuting Authority’s readiness to proceed to trial:

# Automotive Business Council CEO Mikel Mabasa says the sector has engaged US envoy Mcebisi Jonas over challenges posed by US president Donald Trump’s new tariff regime. Speaking at the launch of the 2025 Naamsa Trade Manual, Mabasa stressed hopes for continued exports to the US, despite fears over Africa’s African Growth and Opportunity Act access. The US is South Africa’s third-largest auto export market, with trade valued at nearly 29-billion-rand last year. Mabasa emphasised AGOA’s extension to 2041.

# Table tennis: The Lenasia Table Tennis Association in Gauteng has announced that Danisha Patel will represent South Africa at the International Table Tennis Federation’s World Championships in Doha, Qatar, from tomorrow until next Sunday. With over a decade of experience, Patel is both a top player and coach. The association’s chairperson, Vikash Kasan, praised her dedication, calling her an inspiration. Patel says she’s nervous but excited.

# The financial indicators: The dollar trades at 18-rand-4-cents and the euro at 20-rand-22-cents. One British pound costs 24-rand and Bitcoin trades at 103-thousand-757-dollars. Gold sells at three-thousand-210-dollars-89-cents a fine ounce and Brent crude oil is quoted at 63-dollars-96-cents a barrel.

# And finally: A brand-new blue diamond recently mined from the Cullinan mines of South Africa, Mediterranean Blue, has sold for 383-million-rand at a Sotheby’s auction in Geneva, Switzerland. The bidding for the diamond, which weighs 10.3 carats, started at 198-million-rand. Sotheby’s head of jewels, Quig Bruning, says the gem ranks among the top blue diamonds they have sold:

Stay tuned for more news………….