News 16:00

BULLETIN 12 November 4 pm

Good afternoon. I am……..

In this bulletin:

# Enoch Godongwana sets a new inflation target at 3-percent with one-percent tolerance band
# Eight people are shot at the Nyanga taxi rank in Cape Town
# And cricket: The order of play is adapted for the second Test between South Africa and India

# Finance minister Enoch Godongwana has announced a new inflation target of three-percent, with a one-point tolerance band. Delivering his fifth medium-term budget policy statement in Parliament, Godongwana forecasts the country’s economy will grow by 1.2 percent this year, more than double the growth seen last year, and expects average growth of 1.8-percent between 2026 and ’27. He says government debt will stabilise at 77.9- percent of gross domestic product, the first time since 2008:

Godongwana also urged government to maintain its fight against money laundering and terrorism financing to stay off the Financial Action Task Force grey list. He presenting key bills including the Division of Revenue Amendment and Taxation Laws Amendment Bills. Godongwana says continued vigilance is essential to protect the country’s financial credibility, attract investment, and support economic growth: 

# Eight people were shot during a violent incident at the Nyanga taxi rank on Sithandatu Street in Cape Town. Two victims died at the scene, while six others were rushed to hospital, some in critical condition. It is unclear if it is a taxi-related violence as the motive remains under investigation. Police have urged the public to assist by providing information to the nearest police station.

# Former Ekurhuleni Employee Relations Director, Xolani Nciza, has told the Madlanga commission of inquiry the memorandum of understanding between the city, Medicare, and CAT VIP Protection is highly questionable. Nciza said municipalities operate under strict legal frameworks, and such agreements require formal reports, internal approvals, and council resolutions. He argued the MOU lacked these authorisations, making its existence irregular and potentially unlawful within municipal governance procedures:

# Cricket: The order of play had been changed for the second Test between South Africa and India because of early sunsets in Guwahati. It gets dark in the far north-eastern city from about four in the afternoon. Play will start at nine in the morning local time – 5.30 am in South Africa – half-an hour earlier than usual, and teatime will be taken before lunch. The 20-minute teatime will be taken after two hours, and lunch two hours thereafter. The first Test starts in Kolkata on Friday.

# And the financial indicators: The dollar trades at 17-rand-5-cents and the euro at 19-rand-74-cents. One British pound costs 22-rand-37-cents and Bitcoin trades at 104-thousand-889-dollars. Gold sells at four-thousand-134-dollars-15-cents a fine ounce and Brent crude oil is quoted at 64-dollars-35-cents a barrel.

Stay tuned for more news………….