News 15:00

BULLETIN 5 March 3 pm

Good afternoon. I am……..

In this bulletin:

# Gauteng unveils an ambitious 500-billion-rand budget for public services and economic growth
# South Africa’s economy grew by 0.1-percent in the fourth quarter of 2023 
# And rugby: The Sharks are heavy favourites to confirm the return of the Bok centre André Esterhuizen

# Gauteng MEC for Finance, Jacob Mamabolo, has allocated 500-billion-rand over the next three-years, to enhance public services, uplift the township economy, combat crime, and address the energy crisis. The budget prioritises sectors like education, health and community safety, with significant allocations aimed at improving access to healthcare, quality education, and bolstering law enforcement capabilities. Presenting the provincial budget for the 2024/25 financial year, Mamabolo says funds are earmarked for infrastructure development to improve service delivery and create job opportunities:

More financial news: South Africa’s economy grew by a marginal 0.1-percent in the fourth quarter of last year. Mining activity was up 2.4-percent and electricity, gas and water scored a second consecutive quarter of positive growth, expanding by 2.3-percent. On the downside, trade, agriculture, construction and government were weaker. Statistics South Africa says this takes the annual growth rate for 2023 to 0.6-percent compared to 1.9-percent for 2022. Agriculture recorded its first annual contraction since 2019, shrinking by 12.2-percent. This is the biggest annual fall in agriculture production since 1995.

# Mineral Resources and Energy minister Gwede Mantashe says South Africa’s energy challenges are greater than just load-shedding. Speaking at the 16th annual Africa Energy Indaba in Cape Town, Mantashe says the government supports renewable energy solutions to tackle these challenges. He added a combination of technologies is needed to eradicate energy poverty. Mantashe also addressed concerns about the current and future gas supply in South Africa, citing commercial disputes between Sasol and its customers regarding gas flow decline at the source:

# Minister of International Relations and Cooperation, Naledi Pandor, is hosting her Danish counterpart, Lars Løkke Rasmussen, for political consultations in Pretoria. The department says South Africa and Denmark enjoy sound diplomatic relations since the signing of a Declaration of Intent in 2009. The department further says Denmark is a strong supporter of South Africa’s democracy and freedom, and sees the country as a growing destination for Danish exports.

# Rugby: The Sharks and Stormers have both expressed an interest in Springbok centre André Esterhuizen, who will leave English club Harlequins at the end of the season. It is however widely rumored that the 29-year-old World Cup winner will return to Durban. Esterhuizen represented the Sharks for seven years, before heading to London in 2020 to play for Harlequins. He says it has been a privilege to represent Quins:

# And the financial indicators: The dollar trades at 18-rand-97-cents and the euro at 20-rand-58-cents. One British pound costs 24-rand-5-cents and Bitcoin trades at 66-thousand-831-dollars-92-cents. Gold sells at two-thousand-125-dollars-81-cents a fine ounce and Brent crude oil is quoted at 82-dollars-66-cents a barrel.

Stay tuned for more news………….