For Creamer Media in Johannesburg, I’m Thabi Shomolekae.

Making headlines: Balobedu Queenship: South Africa’s only legally recognised Queenship; South Africa shifts to FDI outflows in third quarter, central bank says; And, Joburg opens R116m Riverside View Phase 3 affordable housing in Diepsloot

Balobedu Queenship: South Africa’s only legally recognised Queenship

President Cyril Ramaphosa has legally recognised Princess Masalanabo Modjadji VII as the Queen of the Balobedu Queenship, in terms of the Traditional and Khoi-San Leadership Act, making it the only legally recognised Queenship in the country.

The Presidential spokesperson Vincent Magwenya noted that the recognition of the Queen introduces a new chapter and is a moment of great significance to the Balobedu Nation.

Magwenya explained that while the Balobedu Queenship was recognised by government in 2016, in terms of the Traditional Leadership and Governance Framework Act, at the time, Queen Modjadji was only 10 years old and could not legally ascend the throne.

He said as a result, since the time of the recognition of the Queenship, Prince Mpapatla Modjadji, Queen Masalanabo Modjadji’s maternal uncle, held the fort for her as a Regent until she turned 18.

South Africa shifts to FDI outflows in third quarter, central bank says

South Africa recorded foreign direct investment outflows of R3.2-billion in the third quarter, compared to inflows of R16.6-billion in the second quarter, central bank data showed on Friday.

The South African Reserve Bank said in its Quarterly Bulletin that the outflows were due to domestic subsidiaries of multinational companies paying back their loans to the parent companies.

For the first time in two years, portfolio investments recorded inflows of R45.6-billion in July-September, from outflows of R20.1-billion in the second quarter.

Nthabiseng Molemoeng, head of balance of payments at the SARB, said the inflows were mainly due to an increase in foreign purchases of publicly traded government bonds following eight consecutive quarters of equity outflows.

And, Joburg opens R116m Riverside View Phase 3 affordable housing in Diepsloot

The City of Johannesburg opened the 184-unit, Phase 3 of the Riverside View affordable housing development in Diepsloot, west of Midrand and north of the City's centre, this week.

Monthly rental fees for the units, developed by the Johannesburg Social Housing Company, range from R1 200 for bachelor units to R2 500 for two-bedroom units, thereby catering to a diverse range of residents.

The units are equipped with modern kitchens, 24-hour closed-circuit television surveillance and biometric access control.

The CoJ received more than 30 000 applications for the 184 units built in Phase 3. CoJ will continue investing in affordable housing to meet the growing demand, and Phase 4 will add 701 more units to the development, said CoJ Human Settlements MMC Mlungisi Mabaso.

That’s a roundup of news making headlines today

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