News 13:00

BULLETIN 22 May 1 pm

Good afternoon. I am……..

In this bulletin:

# South Africa’s debt costs are soaring
# Retail sales rebound with a 1.5-percent growth in March
# And soccer: Sundowns seek a second continental crown in the CAF Champions League final

# South Africa’s debt costs are soaring, with debt servicing now consuming 22-cents of every rand collected. Economist Phelisa Nkomo warns this raises concerns about a potential debt trap. While many countries use debt productively to build infrastructure like roads and telecoms, she says South Africa faces challenges over how borrowed funds are spent. Nkomo told eNCA the country needs urgent fiscal reforms:

# Statistics South Africa says retail trade sales rose by 1.5-percent year-on-year in March, boosted mainly by strong performances in pharmaceuticals, cosmetics, and clothing stores. Retailers in pharmaceuticals and personal care goods grew by seven-percent, while textile, clothing, and footwear sales climbed by 3.5-percent. Stats SA’s Raquel Floris says general dealers and clothing shops were the main drivers:

# Two healthcare workers were gunned down at the St Elizabeth Hospital in Lusikisiki in the Eastern Cape last night. The professional nurse and a human resources manager were stationed at the hospital. Provincial health spokesperson Sizwe Kupelo says details of the incident remain unclear. MEC Ntandokazi Capa has expressed shock and called for a thorough investigation. She has extended condolences to the victims’ families and colleagues as police probe the circumstances surrounding the double murder.

# The Institute of Race Relations says president Cyril Ramaphosa’s meeting with his US counterpart, Donald Trump, exposed the growing cost of South Africa’s failing policies, damaging investor confidence and international credibility. Yesterday’s meeting at the White House was mainly focused on farm killings, with Trump reiterating his claims of genocide in South Africa. The IRR’s Hermann Pretorius says government must end race-based policies.

# Soccer: Mamelodi Sundowns will host Egypt’s Pyramids FC at Loftus Versfeld this Saturday in the first leg of the CAF Champions League final. Fresh off their eighth straight league title, Sundowns aim for their second continental crown. Pyramids, in their first final, face a seasoned Sundowns side that edged Al Ahly in the semis. Speaking at an open media day, midfielder Tashreeq Matthews says the team is ready to win:

# And the financial indicators: The dollar trades at 17-rand-99-cents and the euro at 20-rand-34-cents. One British pound costs 24-rand-12-cents and Bitcoin trades at 110-thousand-439-dollars-14-cents. Gold sells at two-thousand-309-dollars-11-cents a fine ounce and Brent crude oil is quoted at 63-dollars-55-cents a barrel.

Stay tuned for more news………….