For Creamer Media in Johannesburg, I’m Sane Dhlamini.

Making headlines: Floyd Brink is still Johannesburg's city manager – for now, indebted Transnet rolls over R7-billion loans for four months and, Activation of loss and damage fund at COP28 a ‘critical global solidarity moment’

Floyd Brink is still Johannesburg's city manager – for now

Floyd Brink has been thrown a lifeline by the City of Johannesburg, which filed an application for leave to appeal a court finding that his appointment as city manager was unconstitutional, unlawful and invalid.

An appeal would effectively suspend the finding by Acting Judge Steven Budlender given in the Gauteng High Court in Johannesburg yesterday.

It suggested that  the way in which the speaker had brought the motion to hire Brink in February was illegal.

The speaker, Colleen Makhubele, brought an "urgent and exceptional" report to the council on February 22nd, which included a complaint by then acting city manager, Brink, about not being considered for the permanent job.

Indebted Transnet rolls over R7-billion loans for four months

Transnet rolled over R7-billion of debt due this week until March, giving the South African State-owned port and rail company relief for four months.

The bonds, which were due November 6, were dealt with “using funding and existing facilities,” Transnet said.

The company sold zero-coupon notes maturing in February and March next year, shortly after next year’s budget presentation.

The Public Investment Corporation, which manages the bulk of government employees pension funds and had R4.4-billion of Transnet’s bonds due for repayment on November 6, rolled over its exposure into a new short-term commercial paper maturing in March

Finance Minister Enoch Godongwana made no provision for Transnet in his medium-term budget policy statement last week, despite a last minute bid for a bailout.

Activation of loss and damage fund at COP28 a ‘critical global solidarity moment’

Forestry, Fisheries and the Environment Minister Barbara Creecy  has said that the activation of loss and damage fund at COP28 is a ‘critical global solidarity moment’.

Minister Creecy has welcomed the agreement ahead of COP28 regarding the operationalisation of the Climate Loss and Damage Fund, the establishment of which was seen as a key breakthrough of COP27, held in Egypt last year.

However, she immediately called for the fund to be “capitalised at a scale necessary to respond to the costs and impacts already borne by developing countries”.

That’s a roundup of news making headlines today

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