News 14:00

BULLETIN 19 March 2 pm

Good afternoon. I am……..

In this bulletin:

# February’s consumer inflation holds steady at 3.2-percent
# Former president Kgalema Motlanthe warns against labeling informal trading as entrepreneurship
# And motorsport: F1 considers holding a street-circuit Grand Prix in Bangkok from 2028

# Statistics South Africa says annual consumer inflation remained at 3.2-percent last month, unchanged from January. The annual rate for food and non-alcoholic beverages accelerated to a four-month peak in February. Maize meal inflation reached a 17-month high and samp a 19-month high last month. Stats SA’s Lekau Ranoto says goods inflation increased slightly to 2.5-percent, while services inflation dropped to 3.8-percent:

# Former president Kgalema Motlanthe has cautioned against labeling informal trading, such as spaza shops, as entrepreneurship, arguing they do not provide sustainable employment. Speaking at the University of Johannesburg, Motlanthe stressed that economic policies promoting self-employment overlook the need for industrialisation, infrastructure, and stable job structures. He emphasised that true economic growth requires long-term employment opportunities and strong support systems:

# MANCOSA School of Education says government needs to enforce cyber laws, develop a national cybersecurity strategy, and strengthen critical infrastructure protection. According to the 2024 Interpol African Cyberthreat Assessment Report, ransomware and digital extortion were identified as one of the most serious cyber threats faced by Africa. MANCOSA’s Stephan van der Westhuizen says such attacks are of particular concern due to their high financial impact, and their ability to severely disrupt critical infrastructure:

# United Nations secretary-general António Guterres affirmed that the Paris Agreement goals are still within reach, despite last year’s temperatures surpassing the 1.5-degrees Celsius threshold. He made the statement in response to the World Meteorological Organisation’s report showing alarming climate trends, including record carbon dioxide levels and ocean warming. Guterres urges global leaders to act quickly, embracing renewable energy and national climate plans to limit global temperature rise. He emphasises the need for urgent action to ensure a sustainable future.

# Motorsport: Thailand’s government plans to commission a feasibility study into the possibility of hosting a street-circuit Grand Prix in the capital of Bangkok from 2028. This follows discussions between Formula One CEO Stefano Dominicali and Thai prime minister Paetongtarn Shinawatra. Dominicale describes the plan as impressive, while Shinawatra believes such a race would benefit all the country’s people. The current F1 schedule of 24 races includes four in the Asian-Pacific region.

# And the financial indicators: The dollar trades at 18-rand-20-cents and the euro at 19-rand-84-cents. One British pound costs 23-rand-59-cents and Bitcoin trades at 83-thousand-564-dollars. Gold sells at three-thousand-and-35-dollars-8-cents a fine ounce and Brent crude oil is quoted at 70-dollars-2-cents a barrel.

Stay tuned for more news………….