News 17:00

BULLETIN 19 November 5 pm

Good afternoon. I am……..

In this bulletin:

# Minister Kgosientsho Ramokgopa announces a 4.7-billion-rand investment in battery storage projects
# The Public Works minister pledges to take action to end the construction mafia and restore order on building sites
# And rugby: The Sports minister reiterates the SA Rugby equity deal must include South Africans

# Minister of Electricity and Energy, Kgosientsho Ramokgopa, has announced a 4.7-billion-rand investment in two new grid-scale battery energy storage projects. The projects, located in the Northern Cape, will add a total of 180 megawatts and 720 megawatt-hours to the national grid. Developed by France’s EDF International and partners, the projects are expected to be completed within 24 months, with energy coming online by November 2026. The investment will create nearly 500 job opportunities and contribute over 430-million-rand to support skills development and socio-economic initiatives in local communities.

# Public Works and Infrastructure minister Dean Macpherson has vowed to take strong action against the construction mafia causing disruptions at construction sites. The minister is leading the national construction summit in Durban to tackle site disruptions and violence, and reduce project delays caused by criminal activity. Macpherson called for a united effort from government, the private sector, and police to restore order and allow projects to proceed without the fear of extortion: 

# The National Consumer Commission has urged spaza shop owners to register within 21 days, as required by president Cyril Ramaphosa. Acting commissioner Hardin Ratshisusu highlighted non-compliance during inspections, following food poisoning incidents that hospitalised hundreds and claimed the lives of learners. Ratshisusu emphasised to the SABC that the Consumer Protection Act prohibits the sale of unsafe goods, urging shop owners to prioritise public safety:

# British farmers have converged on London for protests against controversial government plans to change inheritance tax rules for land ownership. They claim it threatens to break up the sector and hit food production. Farming businesses previously qualified for 100-percent relief on inheritance tax on agricultural and business property, reducing the amounts that farmers and landowners pay when farmland is passed on after a death. From 6 April 2026 however, total exemption from death duties will only apply to the first 23-million-rand of combined agricultural and business property.

# Rugby: Sports minister Gayton McKenzie has emphasised local involvement in SA Rugby’s proposed 1.3-billion-rand equity deal with Ackerley Sports Group. Speaking after SA Rugby’s president’s council meeting, McKenzie stressed that South Africans, including former players, should share in the stake. The deal, involving a 20-percent equity sale, faces opposition from unions concerned about its structure. McKenzie welcomed foreign interest but urged respect for local contributions. The critical vote on the deal is scheduled for 6 December.

# And the financial indicators: The dollar trades at 18-rand-7-cents and the euro at 19-rand-11-cents. One British pound costs 22-rand-84-cents and Bitcoin trades at 92-thousand-554-dollars. Gold sells at two-thousand-635-dollars-46-cents a fine ounce and Brent crude oil is quoted at 72-dollars-91-cents a barrel.

Stay tuned for more news………….