News 16:00

BULLETIN 12 June 4 pm

Good afternoon. I am……..

In this bulletin:

# Cabinet is concerned over the slow economic growth and welcomes the infrastructure investment boost
# The National Transmission Company South Africa targets an April 2026 launch for the wholesale electricity market
# And rugby: Ticket sales open for the Boks’ home Tests tomorrow

# Cabinet has expressed concern over sluggish economic growth following Statistics South Africa’s report showing the gross domestic product grew by only 0.1-percent in the first three months of this year. It welcomed the National Assembly’s approval of the 2025 fiscal framework, which includes a one-trillion-rand investment in infrastructure to support economic recovery. Minister in the Presidency, Khumbudzo Ntshavheni, told the media while sectors like agriculture and transport posted gains, manufacturing and mining continue to struggle:

# The National Transmission Company South Africa aims to launch the South African wholesale electricity market by 1 April next year, pending regulatory approval. The company has applied to Nersa for a market operator licence and made major progress on the market code. Interim CEO Segomoco Scheppers says the voluntary market will ensure fair trading while safeguarding supply. Meanwhile, a South African wholesale electricity market school is expected to be launched on 24 June to help stakeholders understand the new market system.

# The National Prosecuting Authority has welcomed the Supreme Court of Appeal’s judgment upholding the Investigating Directorate Against Corruption’s appeal in the Nulane Investments fraud case. The ruling overturns acting judge Nompumelelo Gusha’s 2023 discharge of the eight accused, including Iqbal Sharma and former Free State officials. The SCA ordered a retrial before a different judge. The NPA’s Mthunzi Mhaga says this paves the way to continue prosecuting high-profile state capture-related corruption cases:

# Rugby: Fans can buy tickets for the Springboks’ home Rugby Championship Tests from 9 am tomorrow. The defending champion and Australia will do battle at Ellis Park in Johannesburg on the 16th of August, and in Cape Town a week later. On the 27th of September, South Africa will play Argentina in Durban. Ticket prices for the Tests against the Wallabies start at 525-rand each, and for the Pumas’ clash 250-rand. SA Rugby says tickets are only available from Ticketmaster, and warns against buying tickets from unreliable sources.

# The financial indicators: The dollar trades at 17-rand-81-cents and the euro at 20-rand-67-cents. One British pound costs 24-rand-21-cents and Bitcoin trades at 106-thousand-999-dollars. Gold sells at three-thousand-381-dollars-79-cents a fine ounce and Brent crude oil is quoted at 68-dollars-28-cents a barrel.

# And finally: The Automobile Association of South Africa has been recognised as the top employer for 2025 by the Top Employers Institute. The AA’s spokesperson, Eleanor Mavimbela, highlights the organisation’s commitment to exceptional Human Resource practices and a better working world. Certified through a rigorous Human Resource Best Practices Survey, Mavimbela emphasised that the recognition celebrates people-first strategies, workplace wellbeing, and consistent dedication to employee growth in a rapidly changing world:

Stay tuned for more news………….