News 17:00

BULLETIN 19 August 5 pm

Good afternoon. I am……..

In this bulletin:

# South African Wine charts a growth path amid industry shifts
# JustMoney says there is no room for complancency despite the interest rate reduction
# And rugby: Rassie Erasmus names a new-look team to face the Wallabies in Cape Town

# South Africa Wine has outlined strategic priorities in response to the Bureau for Food and Agricultural Policy’s Baseline 2025 report, which projects wine production volumes stabilising below historic levels. CEO Rico Basson says the industry must focus on value over volume, climate adaptation, market diversification and inclusivity. Key priorities include vineyard renewal, and reducing reliance on Europe by targeting Africa, Asia and North America. Basson says sustainability will depend on innovation, collaboration and policy support.

# Even with interest rates easing, South Africans cannot afford to let their guard down when it comes to managing money. This is according to JustMoney’s operations and sales manager, Sarah Nicholson. The South African Reserve Bank reduced the repo rate by 25 basis points to seven-percent last month. As a result, the prime lending rate for commercial banks decreased to 10.5-percent. Nicholson says vigilance and smart financial choices remain essential for people to weather financial challenges:

# South African National Taxi Council president Abnar Tsebe has warned that any taxi operator found involved in violent attacks will be immediately expelled from the industry and prosecuted. He condemned the recent attacks on e-hailing drivers at Maponya Mall in Soweto, Gauteng, as criminal and unacceptable, emphasising that violence has no place in the taxi sector. Tsebe told the media Santaco is working with police and community leaders to restore safety and ensure accountability:

# The International Relations and Cooperation Department, together with the International Committee of the Red Cross, is hosting a high-level summit on international humanitarian law in Pretoria today. Led by deputy minister Alvin Botes, the event seeks to reaffirm respect for international humanitarian law and highlights Africa’s role in strengthening global humanitarian dialogue. The summit aims to encourage more African countries to join the global initiative to galvanise political commitment for international humanitarian law amid rising international conflicts.

# Rugby: Springbok coach Rassie Erasmus made 10 changes to his starting-15 for Saturday’s second Rugby Championship match against Australia in Cape Town. Jesse Kriel captains the side. Cheslin Kolbe, Damian de Allende, Willie le Roux and Handré Pollard add their experience and RG Snyman and Ruan Nortjé are the new second row with Eben Etzebeth on the bench. Thomas du Toit is the only change in the front row. Jean-Luc du Preez comes in at eighthman with Franco Mostert and Marco van Staden the other loose forwards.

# And the financial indicators: The dollar trades at 17-rand-66-cents and the euro at 20-rand-61-cents. One British pound costs 23-rand-84-cents and Bitcoin trades at 115-thousand-729-dollars. Gold sells at three-thousand-331-dollars-72-cents a fine ounce and Brent crude oil is quoted at 65-dollars-52-cents a barrel. 

Stay tuned for more news………….