News 15:00

BULLETIN 4 March 3 pm

Good afternoon. I am……..

In this bulletin:

# An economic fallout is feared as a minibus financier grapples with a debt crisis
# A JSE market capitalisation decline will affect investor confidence and market stability
# And motorsport: Max Verstappen and Red Bull are looking to continue their F1 dominance 

# The minibus financier, SA Taxi, is facing a colossal 16.7-billion-rand debt burden, sparking concerns over the broader implications for the financial sector. According to News24, analysts warn of severe social and economic consequences if SA Taxi fails. The company is a crucial player in the minibus taxi sector and is in urgent talks to restructure 5.3-billion-rand on-balance and 11.4-billion-rand off-balance by June. Several asset managers – including Futuregrowth, Vunani Fund Managers and Ninety One – have debt instruments linked to the minibus taxi financing sector.

Meanwhile, the Johannesburg Stock Exchange’s market capitalisation and liquidity is expected to decline, affecting investor confidence and market stability. This comes as more companies are delisting or opting for alternative listing venues. This shrinking pool of listed companies could also limit investment options for domestic and international investors, potentially constraining capital formation and economic development. Experts say there are signs that this trend will accelerate, with further delistings expected this year.

# The GOOD party says it is taking resolute action against Western Cape provincial legislature member Peter de Villiers, following allegations of sexual assault and harassment. Following a thorough internal investigation, De Villiers was suspended pending a formal disciplinary hearing, set to commence on Thursday. GOOD’s secretary-general, Brett Herron says the party is committed to gender rights and its Constitution, advocating for equal rights, and combating gender-based violence. Herron pledges to communicate the outcomes after the hearing:

# Motorsport: Reigning world champion, Max Verstappen, says he is happy that he has started the season with a win. The Red Bull driver continued where he left off last season, as he converted pole position into a race win with a controlled drive at the Bahrain Grand Prix. His teammate Sergio Perez finished second with Ferrari’s Carlos Sainz in third. Verstappen, who is looking to make it four consecutive world championships, says he hopes the team can build on this strong start:

# The financial indicators: The dollar trades at 19-rand-6-cents and the euro at 20-rand-69-cents. One British pound costs 24-rand-16-cents and Bitcoin trades at 64-thousand-908-dollars-59-cents. Gold sells at two-thousand-and-83-dollars-23-cents a fine ounce and Brent crude oil is quoted at 83-dollars-33-cents a barrel.

# And finally: The Association for Dietetics’ of South Africa has predicted that more than 50-percent of all South African women will be obese by 2030. According to the association’s Maria van der Merwe, two out of three women are currently overweight or obese. She says the rate was found to be significantly lower among males, with one in five men viewed as overweight or obese. The association says the numbers are influenced by a number of factors.

Stay tuned for more news………….