News 18:00

BULLETIN 18 June 6 pm

Good afternoon. I am……..

In this bulletin:

# The UDM deputy president Nqabayomzi Kwankwa was kidnapped but later safely released 
# JPMorgan upgrades South African assets on a government of national unity post-election optimism
# And Rugby: Sanele Nohamba is crowned as the United Rugby Championship Player of the Season

# The United Democratic Movement has confirmed that its deputy president Nqabayomzi Kwankwa was kidnapped en route to Cape Town Airport to attend the presidential inauguration. A ransom of ten-thousand-rand was demanded and paid, resulting in his safe release. His belongings and vehicle were stolen. Kwankwa is in contact with the police. UDM secretary general, Yongama Zigebe expressed relief at his safe return:

# The world’s largest bank by market value, JPMorgan, has upgraded South African assets on optimism following the formation of a government of national unity. The bank’s upgrade from underweight to overweight in its Central Europe, Middle East and Africa asset allocation reflects confidence in the coalition. While positive sentiments abound, risks remain as cabinet positions are yet to be filled, and the efficacy of the GNU structure remains untested. The bank says ideological differences could pose challenges to the coalition’s long-term stability.

# South Africa’s third-largest mobile operator, Telkom, has announced that robust performance in its mobile and fibre sectors boosted operating profits and margins for 2024. Group revenue rose 1.6-percent to 43.2-billion-rand, and core profit increased by over five-percent to ten-billion-rand. Management says it is optimistic about paying dividends by 2025, leveraging their digital infrastructure and ICT capabilities for sustainable growth.

# Rugby: Lions utility back Sanele Nohamba was rewarded for his great form of the past eight months when he was named the United Rugby Championship Player of the Season for his stellar performances at scrumhalf and flyhalf for the Johannesburg team. The 25-year-old Nohamba follows in the footsteps of Stormers duo Evan Roos and Manie Libbok, who won this award in the first two URC seasons. The other 2024 nominees were the Bulls’ duo of Cameron Hanekom and Kurt-Lee Arendse.

# Financial indicators: The dollar trades at 18-rand-9-cents and the euro at 19-rand-44-cents. One British pound costs 23-rand-1-cent and Bitcoin trades at 64-thousand-512-dollars-40-cents. Gold sells at two-thousand-324-dollars-8-cents a fine ounce and Brent crude oil is quoted at 84-dollars-83-cents a barrel.

# And finally: The City of Cape Town says adoptions are an ongoing challenge for animal welfare organisations, but an added layer of complexity has been the increase in stray animals, and pets being surrendered to organisations. Mayoral committee member for Safety and Security, JP Smith says the pressure on the animal welfare sector is relentless, and they do incredible work in spite of the odds stacked against them:

Stay tuned for more news………….