News 16:00

BULLETIN 12 March 4 pm

Good afternoon. I am……..

In this bulletin:

# VAT is to be increased by 0.5-percentage points this year and another 0.5-percentage points next year
# Another bus crash has been reported in Ekurhuleni
# And soccer: Patrice Motsepe is re-elected unopposed as CAF president

# Finance minister Enoch Godongwana has announced a plan to increase the VAT rate to 16-percent by 2026/’27. The VAT rate will rise by 0.5-percent on 1 May, with another 0.5-percent increase on 1 April next year. In his budget speech, Godongwana said the increase is needed to support government spending on essential services like health, education, transport, and security:

# Another bus crash has been reported in Wadeville, in Ekurhuleni, involving a 65-seater bus transporting Sekgotlong Primary school learners. The bus collided with a truck’s trailer this morning, leaving 19 learners with injuries. The city’s Disaster and Emergency Management Services spokesperson, William Ntladi says, fortunately, no fatalities were reported, and the cause of the crash is under investigation:

Meanwhile, the Motor Industry Staff Association is calling for caution after several deadly bus accidents in Gauteng, the Free State, and KwaZulu-Natal. They are concerned about the rising number of bus-related fatalities, with 323 fatal crashes and 487 deaths reported in the last five years. Yesterday, a crash near OR Tambo International Airport killed 13 people and injured 45. The association’s Sonja Carstens sends condolences to the victims’ families and urges more vigilance on the roads, especially for bus drivers.

# Soccer: South Africa’s Patrice Motsepe has been re-elected unopposed as Confederation of African Football president for a second term. Credited with improving CAF’s finances and professionalism, he was re-elected at the 14th extraordinary general assembly in Cairo. Motsepe, a mining magnate and Mamelodi Sundowns owner, first took office in 2021. While leading CAF, he stepped aside as Sundowns president, with his son Tlhopie Motsepe now chairing the club. He will be serving as CAF president until 2029.

# The financial indicators: The dollar trades at 18-rand-35-cents and the euro at 19-rand-99-cents. One British pound costs 23-rand-77-cents and Bitcoin trades at 82-thousand-973-dollars. Gold sells at two-thousand-913-dollars-45-cents a fine ounce and Brent crude oil is quoted at 70-dollars-8-cents a barrel.

# And finally: South African-born Hollywood actress and producer, Charlize Theron, will take centre stage at the Galileo Open Air Cinema‘s screening at the Kirstenbosch Garden in Cape Town from today until Saturday. Theron’s diverse roles and outstanding talent will be celebrated with screenings of Long Shot, Mad Max: Fury Road, Kubo and The Two Strings and The Italian Job. Ticket prices start at 145-rand per person with students and pensioners getting a discount of 25-rand.

Stay tuned for more news………….