News 17:00

BULLETIN 31 July 5 pm

Good afternoon. I am……..

In this bulletin:

# Minister Tau calls for protection against illicit trade threatening the economy
# Minister Steenhuisen says agriculture can be a driver of economic growth
# And, Olympic Games: Three South African swimmers participate in the semifinals tonight

# Minister of Trade, Industry and Competition, Parks Tau, says the illicit economy is costing South Africa 100-billion-rand annually, undermining industrialisation and job creation. Tau highlights importers’ practices like under-declaring goods’ value and misusing rebates, affecting local manufacturers. He says an Inter-Agency Working Group has been formed, focusing on scrap metal, gold, clothing, textiles, footwear, and leather to combat this:

FNB has meanwhile suggested private sector partnerships should be paired with business growth agencies to help with job creation. Head of SME Development Heather Lowe believes government initiatives alone cannot address South Africa’s high unemployment rate. She believes partnerships between the private sector and business accelerators are crucial for creating thriving businesses and promoting inclusive economic growth. The role of education and work experience are also deemed vital for the success of existing initiatives.

# Agriculture minister John Steenhuisen has emphasised the sector’s potential to drive economic growth at Agri Eastern Cape’s Annual Congress today. Steenhuisen highlights the need to resolve issues such as policy uncertainty, farm murders, rural crime, and biosecurity challenges to enhance the sector. He notes that agriculture significantly contributes to the country’s gross domestic product, and offers substantial opportunities for growth, development, and job creation:

# Action Society urges the newly appointed chairperson of Parliament’s portfolio committee on Police, Ian Cameron, to address the outstanding crime statistics, update the sexual offenders list, and tackle the DNA backlog. They also slam the two-billion-rand allocated for VIP protection services, arguing funds should be redirected to public safety. Action Society’s Juanita du Preez urges Cameron to engage with them to improve the justice system and ensure the safety of all citizens:  

# Olympic Games: Three South African swimmers will compete in the semifinals of their items tonight. Tatjana Smith, who won gold in the 100 metre breaststroke on Monday, continued her spectacular form in the 200 breaststroke when she won her heat in the fastest qualifying time. Kaylene Corbett finished second in the same heat. The semifinal takes place just after ten tonight. Pieter Coetzé also impressed in the 200 metre backstroke, winning his heat and posting the third-fastest time in the round. The semifinal starts at 9.47 tonight.

# And, the financial indicators: The dollar trades at 18-rand-20-cents and the euro at 19-rand-73-cents. One British pound costs 23-rand-39-cents and Bitcoin trades at 66-thousand-357-dollars-97-cents. Gold sells at two-thousand-418-dollars-33-cents a fine ounce and Brent crude oil is quoted at 80-dollars-9-cents a barrel.

Stay tuned for more news………….