News 16:00

BULLETIN 17 June 4 pm

Good afternoon. I am……..

In this bulletin:

# Tongaat Hulett’s liquidation is averted as a rescue deal saves 250-thousand jobs
# The Presidency confirms receipt of the DA’s proposed cabinet changes to reshape the GNU
# And cricket: The Proteas Women face Pakistan in their second World Cup match tonight

# Tongaat Hulett avoided liquidation after signing a rescue agreement with the Industrial Development Corporation and international investment group the Vision Consortium this morning. The deal is expected to stabilise the sugar producer and safeguard an estimated 250-thousand jobs linked to its operations and supply chain. The agreement forms part of a broader restructuring effort aimed at restoring financial sustainability and protecting economic activity in affected regions. It marks a significant intervention in one of South Africa’s key agricultural and manufacturing sectors.

# Presidential spokesperson Vincent Magwenya has confirmed DA leader Geordin Hill-Lewis has submitted a request to president Cyril Ramaphosa for changes to the party’s representation in the government of national unity. These include Forestry, Fisheries and the Environment minister, Willie Aucamp taking over as Agriculture minister, with John Steenhuisen moving to a Trade, Industry and Competition deputy minister role. Magwenya says Ramaphosa will respond soon:

Ramaphosa has meanwhile called on faith communities to play a key role in addressing South Africa’s migration challenges and supporting the national dialogue process. Speaking to religious leaders at a special meeting at the Union Buildings in Pretoria, he says concerns over illegal immigration are real but not the root cause of unemployment, poverty, and crime, which require broader economic solutions. Ramaphosa outlined a five-pillar migration strategy:

# The High Court in Pretoria has ruled that the Department of Correctional Services acted unlawfully when it took control over the Mangaung Correctional Centre following the escape of convicted murderer and rapist Thabo Bester. The prison was run by G4S under the Bloemfontein Correctional Contracts when Bester escaped in 2022. The court found there was no ongoing security threat to justify the intervention nearly ten-months after the escape. Judge Dale Matthew Hinrichsen ordered the department to repay at least 1.72-million-rand to BCC and cover legal costs.

# Cricket: The Proteas Women face Pakistan in their second T20 World Cup group match in Birmingham, England, tonight. South Africa hopes to reset after the disappointing 65-run loss to Australia in their first encounter. Veteran allrounder Marizanne Kapp says they are only focusing on Pakistan at this stage and not on the rest of the tournament, believing they have a very good chance of bouncing back. The Proteas’ other group matches are against India, the Netherlands and Bangladesh. Tonight’s match starts at 7.30, South African time.

# And the financial indicators: The dollar trades at 16-rand-21-cents and the euro at 18-rand-79-cents. One British pound costs 21-rand-73-cents and Bitcoin trades at 64-thousand-646-dollars. Gold sells at four-thousand-326-dollars-14-cents a fine ounce and Brent crude oil is quoted at 79-dollars-45-cents a barrel.

Stay tuned for more news………….