News 14:00

BULLETIN 30 July 2 pm

Good afternoon. I am……..

In this bulletin:

# Bain and Company’s exit from local consulting reflects the ongoing fallout from the state capture era
# Minister Ramokgopa says climate finance must fuel inclusion in global energy transition
# And 15 Western nations call on countries to recognise a Palestinian state

# Bain and Company is closing its consulting business in South Africa due to the lasting stigma from its role in the state capture scandal during Jacob Zuma’s presidency. After controversial work at the South African Revenue Service and a government ban, Bain struggled to regain trust and retain clients and talent. Its Johannesburg office will remain open as a global services hub, but will no longer offer local consulting. The scandal continues to impact its reputation and partnerships in the country.

# The G20 Energy Transition Working Group in Sun City, North West has been urged to scale up climate finance to end energy poverty. Electricity and Energy minister, Kgosientsho Ramokgopa, urged a shift from pledges to coordinated investments. Ramokgopa calls for financing of transmission, distribution, and flexible generation, plus support for small and medium enterprises and early-stage projects. He stressed that climate finance must become inclusive, reaching those most in need at the scale and speed required:

# SA Canegrowers says the sugar industry is set for a better harvest this year, with an expected 18-million tons of sugarcane, up from last year’s 16 million tons. However, the organisation warns the industry is still at risk due to delays in raising sugar import tariffs and a possible 30-percent tax on exports to the US. Chairperson Higgins Mdluli urges the government to act quickly to protect local growers and secure trade deals:

# Fifteen Western nations called on countries worldwide to recognise a Palestinian state. Their Foreign ministers issued a joint statement following a conference in New York aimed at reviving a two-state solution between Israel and the Palestinians. French president Emmanuel Macron announced last week he would formally recognise Palestinian statehood in September, provoking strong opposition from Israel and the United States. British prime minister Keir Starmer announced the UK will formally recognise Palestine in September unless Israel takes various substantive steps, including agreeing to a ceasefire in Gaza.

# Cricket: All-rounder Mitch Owen is in contention to make his one-day international debut after being included in both Australia’s T20 and ODI squads for next month’s home series against South Africa. The 23-year-old was impressive in the T20 series against the West Indies, scoring 125 runs and taking two wickets. Key players Travis Head and Josh Hazlewood return to the team, while Mitchell Starc is rested. Mitchell Marsh will continue to be the stand-in ODI captain, as skipper Pat Cummins remains sidelined.

# And the financial indicators: The dollar trades at 17-rand-86-cents and the euro at 20-rand-62-cents. One British pound costs 23-rand-89-cents and Bitcoin trades at 118-thousand-286-dollars. Gold sells at three-thousand-328-dollars-93-cents a fine ounce and Brent crude oil is quoted at 70-dollars-97-cents a barrel.

Stay tuned for more news………….