News 14:00

BULLETIN 29 May 2 pm

Good afternoon. I am……..

In this bulletin:

# Cabinet hails the reset in relations between South Africa and the US following Ramaphosa’s visit to Washington
# Life sentences for the three people convicted in the Joslin Smith case
# And rugby: Homeground advantage for the Sharks in the URC quarterfinal clash

# Cabinet welcomes a fresh start in South African and US relations following president Cyril Ramaphosa’s visit to Washington. It said the visit strengthened bilateral ties and opened new avenues for cooperation in trade, investment, climate change, and global peace. Minister in the Presidency, Khumbudzo Ntshavheni, told the media the visit paved the way for renewed strategic cooperation, with progress made on a new trade deal and commitments to strengthen collaboration under the G20 framework:

# Absa has lowered its 2025 growth forecast for the South African economy by half and predicts two more rate cuts for later this year. The bank says it expects the economy to expand by only one-percent this year, down from a previous estimate of 2.1-percent. It also predicts the South African Reserve Bank will cut the repo rate by 25 basis points when it makes its rate decision announcement later today. An economist at Absa, Andiswa Nondudule, says this should take the repo rate to seven-percent.

# Kelly Smith, Jacquen Appollis, and Steveno van Rhyn have each been sentenced to life in prison over the disappearance of Smith’s young daughter, Joslin, on the Cape West Coast in February last year. The trial ended in the Western Cape High Court sitting in Saldanha Bay this morning. Judge Nathan Erasmus noted systemic failures in supporting Smith, but stressed that justice must protect the vulnerable. He also stated that drug use is no excuse for such crimes:

# Rugby: While the Sharks have secured the European Challenge Cup, they have not had much success when it comes to the United Rugby Championships. Last season, they concluded the campaign in 14th spot on the log. The Durban-based side is preparing for a quarterfinal clash against Irish side Munster at Kings Park in Durban on Saturday. The Sharks’ captain, Springbok star Eben Etzebeth, says despite home ground advantage, they are expecting a tough game:

# The financial indicators: The dollar trades at 17-rand-87-cents and the euro at 20-rand-17-cents. One British pound costs 24-rand-1-cent and Bitcoin trades at 108-thousand-626-dollars. Gold sells at three-thousand-296-dollars-12-cents a fine ounce and Brent crude oil is quoted at 64-dollars-94-cents a barrel.

# And finally: A social entrepreneur from Kenya, Kennedy Odede, and Canadian indigenous social worker, Brenda Reynolds, are the 2025 Nelson Rolihlahla Mandela Prize laureates. The prize, established by the United Nations in 2014, is awarded every five years to two individuals whose work reflects Mandela’s legacy of leadership, humility, service, and unity across borders. UN Secretary General, António Guterres, says Odede and Reynolds embody the spirit of unity and possibility. The two will receive the award on Nelson Mandela International Day, July 18th.

Stay tuned for more news………….