News 14:00

BULLETIN 2 July 2 pm

Good afternoon. I am……..

In this bulletin:

# The former eThekwini mayor Zandile Gumede’s assets are seized amid a corruption probe
# An economist says the new government needs to expand its collaboration with the private sector
# And rugby: There are lots of World Cup experience in the Bok squad to face Ireland

# The Asset Forfeiture Unit has seized a luxury Jaguar SUV and two properties worth 25.5-million-rand linked to former eThekwini mayor Zandile Gumede. She and 21 co-accused face charges of fraud, corruption, money laundering, and racketeering for alleged irregularities involving a 320-million-rand waste removal tender. The unit claims the seized properties were funded through payments to the company El Shaddai, one of four firms involved in the tender. The trial is ongoing at the KwaZulu-Natal High Court in Durban.

# An economist says the government of national unity needs to strengthen and expand its collaboration with the private sector to harness it to expedite delivery. Professor Raymond Parsons of North-West University’s Business School says the business community will particularly want to interact with the new incumbents of the interlocking economic cluster in cabinet. He believes their decisions will be influential in shaping South Africa’s future economic policy environment:

Meanwhile, the new Trade, Industry, and Competition minister, Parks Tau, is expected to prioritise industrial policy and green economy initiatives. According to business and policy specialists, his appointment, alongside deputies Zuko Godlimpi and Andrew Whitfield, aims to enhance economic recovery through sector support, innovation promotion, and sustainable industrial development. Business Unity South Africa stresses the need for policies that attract investment, boost productivity, and enhance trade competitiveness.

# The South African Revenue Service has kicked off the 2024 tax season by opening the auto-assessment portal for simpler tax affairs. Spokesperson Siphithi Sibeko advises taxpayers to log into eFiling or the SARS MobiApp for assessments. In addition, disagreements can be addressed by filing returns by 21 October for non-provisional taxpayers. Sibeko emphasises SARS’s commitment to make the filing period seamless, and cautions South Africans against scammers:

# Rugby: Springbok coach Rassie Erasmus named an experienced squad featuring 20 World Cup-winners for their first Test against Ireland at Loftus Versfeld on Saturday. The team shows eight changes to the one that defeated Wales 41-13 in London 10 days ago. Erasmus welcomed back captain Siya Kolisi, Willie le Roux, Cheslin Kolbe, Kurt-Lee Arendse, Handré Pollard, Marco van Staden, RG Snyman and Gerhard Steenekamp. Prop Steenekamp, lock Salmaan Moerat and utility back Sacha Feinberg-Mngomezulu were included on the bench.

# And the financial indicators: The dollar trades at 18-rand-46-cents and the euro at 19-rand-77-cents. One British pound costs 23-rand-32-cents and Bitcoin trades at 62-thousand-574-dollars-71-cents. Gold sells at two-thousand-323-dollars-87-cents a fine ounce and Brent crude oil is quoted at 87-dollars-16-cents a barrel.

Stay tuned for more news………….