News 14:00

BULLETIN 4 March 2 pm

Good afternoon. I am……..

In this bulletin:

# Cabinet finalises the budget input ahead of its tabling on March 12
# South Africa’s economy grew by 0.6-percent in 2024 compared to 0.7-percent in 2023
# And cricket: Veteran batter Ajinkya Rahane will captain Kolkata Knight Riders in this year’s IPL

# The cabinet has completed its input for the 2025/’26 Budget, which Finance minister Enoch Godongwana will present next week. A special meeting yesterday debated funding options after the budget speech’s historic delay over VAT hike disputes. According to Bloomberg, Godongwana must now balance fiscal constraints, economic growth, and protecting low-income households. Reports suggest possible tax increases, spending cuts, and pension fund adjustments. The final budget will aim to stabilise debt and support critical services.

Meanwhile, South Africa’s economy grew by 0,6-percent in the fourth quarter of 2024, following a decrease of 0,1-percent in the third quarter. Despite much less load-shedding during 2024, the annual growth was only 0.6-percent compared to 0.7-percent in 2023. Fourth quarter growth was mainly driven by 17.2-percent growth in the agriculture, forestry and fishing industry. The manufacturing industry decreased by 0,6-percent. The largest negative contributions were reported for the basic iron and steel, non-ferrous metal products and metal products as well as motor vehicles, parts and accessories.

# Zanzou nightclub director Neo Moela has denied any prior knowledge of the alleged abuse incident at the club in Pretoria. This follows after videos emerged on social media, showing young men being sexually and physically abused. Moela’s lawyer, Zola Majavu , told the media his client is fully cooperating with law enforcement and is prepared to be held legally accountable if necessary:

# Afrikaans lobby group, Betereinders, has launched the Not USA, But YOU SA campaign, urging for unity amongst South Africans as US-SA tensions continue. This follows president Cyril Ramaphosa’s criticism of AfriForum and Solidarity for allegedly spreading divisive narratives to the US government, advocating for Afrikaner interests. Betereinders co-founder Johan Erasmus emphasised to Newzroom Afrika that Afrikaners are not victims and should embrace their identity locally:

# Cricket: Veteran top-order batter Ajinkya Rahane will captain the defending champions, Kolkata Knight Riders, in this year’s Indian Premier League. The 36-year-old takes over after the departure of Shreyas Iyer, who will lead Punjab Kings this year, while Venkatesh Iyer will be Rahane’s deputy at KKR. Rahane says it’s an honour to be asked to lead the team, which he describes as one of the most successful franchises in the IPL. KKR will host Royal Challengers Bengaluru in the opening match on the 22nd.

# And the financial indicators: The dollar trades at 18-rand-55-cents and the euro at 19-rand-50-cents. One British pound costs 23-rand-59-cents and Bitcoin trades at 83-thousand-477-dollars. Gold sells at two-thousand-915-dollars-66-cents a fine ounce and Brent crude oil is quoted at 70-dollars-45-cents a barrel.

Stay tuned for more news………….