Sommaire pour 2025-04-24 de Cape Times

CONSUMERS reliant on credit may have to endure an extended period of restrictive monetary policy before the South African Reserve Bank (Sarb) considers cutting interest rates later this year, despite recent data showing inflation has plummeted to its lowest level in nearly five years. Data from Statistics South Africa (Stats SA) on Wednesday showed that inflation surprised on the downside and cooled for the first time in five months on the back of lower fuel and education. Stats SA said the headline consumer price inflation (CPI) fell sharply by 0.5 percentage points to 2.7% in March from 3.2% in February, mainly on account of food and non-alcoholic beverages and fuel prices. This better-than-expected inflation print marked the lowest reading since June 2020, falling below the lower bound of the Sarb’s…

The International Monetary Fund (IMF) has issued a stark warning that over one-third of countries are set to experience an increase in public debt by 2025, compared to the previous year. The concerns arise amidst escalating uncertainties and significant policy shifts that are altering economic and fiscal landscapes globally.. According to the IMF’s Fiscal Monitor report released on Wednesday, these economies collectively represent about 75% of global GDP and included major players— China and the United States—as well as Australia, Brazil, France, Germany, Indonesia, Italy, Mexico, Russia, Saudi Arabia, South Africa, and the United Kingdom. The Fiscal Monitor projects global public debt to increase by 2.8 percentage points this year—more than twice the estimate for 2024—pushing debt levels above 95% of world gross domestic product. Vitor Gaspar, IMF director…

Minister of Tourism Patricia de Lille has said that the 2025 Africa Travel Indaba (ATI) was expected to surpass the figures it drew last year and generate more than R300 million for the economy of KwaZulu-Natal. De Lille on Wednesday announced that more than 1 200 exhibitors were confirmed for this year’s gathering taking place at Durban ICC on 13-15 May – a powerful testament to the vibrancy of the African tourism sector. She explained that this year’s motto transcended mere branding. "It is the essence of this all-important gathering because Africa’s Travel Indaba is not just a trade show. It is a celebration of who we are," De Lille said. "A declaration of what we believe. It is a declaration that we want to think and act without limits.…

A business plan is never set in stone. It should reflect the realities of your operating environment, especially considering how quickly economic conditions seem to be shifting in 2025. While some economists remain optimistic, predicting growth of up to 2.1% this year, the South African Reserve Bank (SARB) recently trimmed its 2025 forecast down to 1.7%, citing ongoing supply constraints and weak demand. With the effects of global trade tensions, rising costs and looming tax increases already being felt across the small to medium enterprise (SME) sector, it may be necessary to revisit your business plan. Here are five signs that your plan may no longer be fit for purpose in today’s economic environment: 1. Your revenue assumptions haven’t changed If your plan still assumes consistent or growing customer demand…

High costs could inhibit benefits of high gold prices for South African producers of the precious metal although there is optimism that its auto makers will register growth this year, analysts at Fitch Solutions said on Wednesday, highlighting a mixed outlook for exports this year. South Africa exports automobiles, metals and minerals as well as other manufactured products to markets such as Europe, China and the United States among others. With South Africa falling out with the US, analysts have been weighing up the impact of President Donald Trump’s tariffs. Analysts at Fitch Solutions said on Wednesday that the US tariffs on South Africa would affect its agriculture and auto sectors the most. “The country will face an effective tariff rate of 9.5% according to our calculations and this will…

Vedanta Resources, is considering a US public listing for its Zambian unit Konkola Copper Mines as one of its options to try to raise about $1 billion for mine development, three sources familiar with the details, told Reuters. The miner, owned by Indian billionaire Anil Agarwal, has hired Barclays and Citigroup to advise on the plans for an initial public offering, said the sources, who declined to be named due to sensitivity around the discussions. Vedanta is considering New York as one of the options to list KCM, as the Zambian unit is known, the sources said. They said the discussions were at an early stage and a timeline had yet to be finalised.A spokesperson for Vedanta Resources declined to comment beyond saying various options were under consideration. "We continue…

Discussions around bilateral relations and expanding bilateral cooperation, and the exploration of cooperation in support of efforts to build lasting peace, will be on the agenda when President Cyril Ramaphosa hosts Ukraine President Volodymyr Zelenskyy on an official visit to South Africa at the Union Buildings in Pretoria today. According to the Presidency, Zelenskyy’s visit will be the first by a Ukrainian head of state to South Africa. On June 16, 2023, Ramaphosa visited Ukraine as part of the Africa Peace Initiative to Ukraine. The presidency said the visit will allow South Africa and Ukraine to discuss bilateral relations and expand bilateral cooperation in areas such as trade, agriculture, and education, and explore areas of cooperation in support of efforts to build lasting peace. In a recent parliamentary question, ActionSA’s…

THE possible deregistration of more than 20 000 non-profit organisations in the Western Cape over non-compliance points to “the chronic lack of support and capacitation afforded to civil society organisations”, says social service and educational organisation Ilitha Labantu. A total of 2,384 NPOs have already been deregistered, while 20 475 of the 29 343 registered NPOs across the Western Cape have been found to be non-compliant. The biggest contributors to non-compliance related the failure to submit annual reports and organisations not adhering to the provisions of their own founding documents, said Monique Mortlock-Malgas, spokesperson for social development MEC, Jaco Londt. All NPOs are registered by the National Department of Social Development (NDSD), which also holds the authority to deregister them. Londt identified risks in turning to unregistered NPOs for…

AS the State closed its case in the Joshlin Smith matter yesterday, accused Jacquen ‘Boeta’ Appollis and Steveno van Rhyn both elected to not give evidence or call witnesses. Earlier, the State called Colonel Riaan Morris from the provincial Commercial Crimes Unit, who played six videos for the court. The videos include Kelly Smith being filmed on Sunday, March 3, 2024, at an open prayer service being held for Joshlin. The other videos also show Smith having a meeting at the Spur with now Minister Gayton McKenzie. A few videos of the meeting with McKenzie are shown. He was also provided with two links, which led to two videos of McKenzie, seated in the back of a vehicle, where he questions Van Rhyn about his whereabouts and what happened…

The Masque theatre presents Shakespeare’s classic tragedy Hamlet in a fresh new production that will resonate with all, from high school learners to Shakespeare enthusiasts. Directed by Yuri Behari-Leak, Hamlet will be presented at The Masque from May 9 to 17. This gender-swapped adaptation of Shakespeare’s tragedy follows Hamlet, a young director at a modern film production studio soon before the premiere of her latest film, as she tries to avenge her mother’s death. The production stays true to Shakespeare’s text as the heroine grapples with her own identity and morality, and adds the layer of how Hamlet can bring the perpetrator of gender-based violence to justice while staying on a feminist path. The play explores how people stay true to themselves in a world of fame, celebrity and social…

Cricket South Africa (CSA) have confirmed that its long-standing commercial partner, Momentum, will conclude its sponsorship of the Proteas Women’s team at the end of April. This partnership, which has flourished over the past 13 years, has played a pivotal role in the revitalisation and professionalisation of women's cricket in South Africa. Throughout the duration of their collaboration, Momentum has been instrumental in nurturing young talent and fostering growth within the women’s game, aligning closely with CSA’s values of access and inclusion. This commitment is evident through their support across various programme pipelines, ranging from boys’ schools to community cricket initiatives, and notably sponsorships of the South Africa U19 women's team, which has paved the way for the emergence of the Proteas Women. CSA Chief Executive Officer Pholetsi Moseki expressed…

South African fund managers are preferring a high gold positioning as the country’s economic growth outlook and confidence in reforms dim, Bank of America (BofA) data showed on Wednesday. Confidence in South Africa’s economic growth prospects has been dimming on the back of disagreements within the government of national unity (GNU). Geopolitical risks were also weighing in as the US and China tariff wars entrench although President Donald Trump this week hinted at a climb-down. BofA’s latest South Africa Fund Manager Survey nonetheless reflected a “high positioning relative to history in gold, banks and bonds. This comes as a “growth and reform hopes dim” with the top risk being “political shifts” to the left. BofA noted “a net 38% see 'reform slowing' (against peak reading of a net 56% September…

There are concerns that MTN Group may have misled its shareholders about the nature of ongoing terrorism litigation in the United States in the recently published Annual Financial Statements for the year ended 31 December 2024. The Annual Financial Statements names five active legal cases related to the Anti-Terrorism Act (ATA) against MTN Group in US courts, and its Director's Report declares that each of those cases has “been assessed as remote and therefore no contingent liabilities have been disclosed.” The Annual Financial Statements were authorized by the MTN Board of Directors on 17 March 2025. The Chairman of the MTN Board is Mcebisi Jonas, the newly appointed South African Special Envoy to the United States. Professor Jeffrey Breinholt of George Washington University helps to shed light on why the…

BankservAfrica's much-anticipated Take-home Pay Index (BTPI) is set to reveal a small dip for March 2025, marking a slight retreat in the wage landscape of South Africa. Nonetheless, analysts at BankservAfrica asserted on Wednesday that the overall trend remained upward, buoyed by improving economic conditions in recent months, challenging the prevailing headwinds of escalating global trade tensions and increasing political uncertainty at home. Earlier this month, BankservAfrica showcased its Economic Transaction Index (BETI), which displays the standardised value of all economic transactions in the South African economy at seasonally adjusted real prices (2005=100). Notably, the BETI indicated a modest recovery in March 2025, with some crucial adjustments accounting for recent fluctuations. Shergeran Naidoo, BankservAfrica’s Head of Stakeholder Engagements, reported that the BETI rose to an index level of 137.1 for…

South African SMEs navigate a complex business landscape, juggling daily operational demands with the urgent need to adopt rapidly evolving digital technologies. Historically, advanced technologies like AI have been largely inaccessible to SMEs, putting them at a distinct disadvantage compared to larger corporations. However, a new wave of innovation, mirrored by developments in the Global North and championed by companies like LeanTechnovations locally, demonstrates how the strategic integration of AI with proven methodologies like Lean can empower SMEs and foster a more equitable competitive environment. In economies across the Global North, we've seen AI transform SME sectors. In Germany, the Industrie 4.0 initiatives have enabled smaller manufacturers to automate production lines, optimise supply chains, and personalise products, previously the domain of large enterprises. In the United States, AI-powered marketing tools…

African Bank has embarked on a new journey that empowers its own permanent workers with the launch of the iKamva Lethu (Our Future) Employee Share Ownership Scheme (ESOS) in 2024. The bank on Wednesday said this was a symbolic move towards realigning its mission of being a bank for the people, by the people, for the betterment of all South Africans. This initiative allocates a significant 10% ownership of African Bank Holdings Limited (ABHL) shares to its permanent employees, fostering a culture of inclusivity and shared responsibility among its workforce. In a bid to ensure equitable access to ownership, the ESOS provides all employees—regardless of race, age, tenure, or seniority—with a stake in the company’s success. This significant decision aims not only to enhance employee retention and commitment but also…

An unknown number of patient files have been destroyed in a fire at the Tembisa Provincial Tertiary Hospital in Ekurhuleni, Gauteng, emergency services confirmed yesterday. Firefighters extinguished the blaze and were yesterday working to dampen the affected files. The incident comes days after a fire broke out in the same hospital in the outpatient area, adjacent to the Accident and Emergency Unit on Saturday night. Ekurhuleni EMS spokesperson Eric Maloka said the city’s control center received a call in the early hours of yesterday. “Our control center received a call that there was an outbreak of fire at Tembisa Provincial Tertiary Hospital. They responded promptly, as the nearest fire station is just four kilometers from the hospital. When they arrived, they found the fire at the outpatient department, where patient…

FOUR prison warders have been arrested in connection with the death of an inmate at the Mangaung Correctional Centre (MCC). The Department of Correctional Services (DCS) recently confirmed that Mpho Mkhumbeni, a prisoner who was serving a life sentence for murder, died as a result of pepper spray exposure. “On March 12, 2025, police were notified of the death of 37-year-old Mpho Mkhumbeni, an inmate at Mangaung correctional facility in Bloemfontein. At the time, the death was believed to be due to natural causes, and an inquest docket was opened for further investigations,” said police spokesperson, Brigadier Motantsi Makhele. “Subsequent post-mortem results indicated that Mr. Mkhumbeni died due to unnatural causes. These findings led investigators to change the inquest docket to a murder investigation. Further investigations by the Bloemspruit police…

WITH the Cape Town International Jazz Festival (CTIJF) set to wow audiences this weekend, it is undeniable how much of an economic impact the festival creates as a business and tourism powerhouse. The festival has become a critical economic driver for Cape Town and the broader Western Cape and has contributed significantly to both direct and indirect job creation. Audiences, both local and international, will be singing and dancing at the Cape Town International Convention Centre on Friday and Saturday where incredible artists will be performing under the “Legacy meets tomorrow” theme. This year's lineup includes Grammy award winner DJ and producer Black Coffee in collaboration with Nduduzo Makhathini. DJ Black Coffee is a global icon who has electrified audiences across the world. From the legendary stages of Hï Ibiza…

The Stormers never won a single Super Rugby title. Not even Bobby Skinstad’s legendary “Men in Black” team of 1999. In fact, they did not even get past the semifinals. The best result the Stormers achieved was runners-up in the historic 2010 Soweto showpiece. For many years my steadfast belief was the Stormers simply never had a flyhalf that could act as the puppet master. Someone who could pull the strings like he was in charge of the show. It certainly created heated debate in the office with our former sports editor Ian Smit championing Peter Grant’s capabilities against my assertions. And this from a man that held Michael du Plessis in reverence. I always pointed to the Crusaders’ championship winning teams who boasted Andrew Mehrtens and the great “DC”…

MOHAU Nkota. Relebohile Mofokeng. These two youngsters have fond memories of their last three visits to north Africa this season. As such when Orlando Pirates navigate their last pathway to the CAF Champions League final all eyes will be on them. Pirates will face Pyramids at 30 June Stadium in Cairo on Friday (8pm) in the semi-final second leg on the back of a stalemate in Orlando a week ago. The Sea Robbers need to win the game or at least play to a scoring draw to sail to the last hurdle - the final of the competition since 2013. But given that they’ll have Nkota and Mofokeng at their disposal that will be a double-dose of boost on top of the fact that Pyramids do not have an away…

Governance issues remain as PIC sets conditions for public interest to be addressed The Public Investment Corporation (PIC) has accepted Saudi Arabia-based Zahid Group’s $1.3 billion (R23bn) bid for Barloworld Group, but has set conditions to address its public interest concerns around the deal. The Zahid Group has proposed a R120 per share offer, which was a 30% premium on the share price at the time of the offer, but shareholders initially voted against the bid amid claims of governance irregularity, due to the participation of its CEO Dominic Sewela as part of the takeover consortium and claims of lack of transparency in the transaction, and despite the group’s assertion that there were now governance breaches. However, in terms of the standby offer made in February, engagements took place between…

Deputy President Paul Mashatile on Wednesday said the 2025 Budget process has instilled important lessons, relating to improving transparency in decision-making processes and that the current budgetary process is not transparent and inclusive enough. The 2025 Budget has brought into sharp focus the government's revenue-raising and expenditure measures after Finance Minister Enoch Godongwana proposed a controversial 0.5 percentage point increase in the value-added tax. Speaking at the 2025 Budget Roundtable discussion, Mashatile said a transparent process was one that allowed for public participation, scrutiny, and informed decision-making, ultimately leading to better resource allocation and improved service delivery to the citizenry. "In fact, the foremost lesson we have learned is that we need to return to the concept of the people's budget, this was advocated by Ben Turok, and Joanamarrie…

I recently found myself in a local salon, getting my daughter and niece ready for the upcoming school term. It was supposed to be a routine visit; just a little back-to-school grooming, but as I settled into the comfortable chair and watched the buzz of women working around me, something far more meaningful unfolded. The salon owner, Sibongile, moved confidently between her clients, her voice calm, her hands assured. As someone who works with entrepreneurs, I’m always alert to stories that don't make headlines but quietly shape our communities. Sibongile’s story, as she shared it while gently parting my niece’s hair, struck me deeply. She began her business in 2015 with two chairs, one mirror, and a dream. The garage where she started has since transformed into a vibrant hair…

Capitec, the digital bank with more than half of South Africa as clients, increased headline earnings 30% to R13.7 billion as its diversification initiatives over recent years started to unlock value for its clients and the bank. The share price surged 7.1% to R3 350.77 on the JSE Wednesday afternoon after the release of the results for the year to February 28, while the JSE All Share Index was only up by 0.28%, which indicated that investors were also optimistic about the bank’s prospects. Over the past five years, the bank's journey has included the introduction of business banking, value-added services (VAS), Capitec Connect, and insurance under its own insurance licence. This diversification leveraged the group’s active client base, which now exceeds 24 million, with 13 million of the clients…

Shares in South Africa’s Aspen Pharmacare dropped more than 30% on Wednesday, a day after the company issued a profit warning over what it called a “material contractual dispute”. Aspen alerted shareholders to the dispute after the close of the local stock market on Tuesday. It said it related to a manufacturing and technology agreement with a contract manufacturing customer for mRNA products, saying details were subject to contractual confidentiality. Normalised earnings before interest, taxes, depreciation and amortization from its manufacturing business could be R2 billion lower than last guided in its full-year results, it added. By 14h10 on Wednesday its shares were down about 32%. On a Wednesday call, Aspen said the dispute had come “from left field” and management was not aware of it at the time of…

The SIU will widen its scope of investigation to include five state institutions in connection with The New Age (TNA) media breakfasts hosted by the SABC about a decade ago. Briefing the Standing Committee on Public Accounts, SIU chief investigating officer Zodwa Xesibe said there was not much to report about the investigation emanating from the proclamation issued late last year. “In respect of the investigation, in a sense, this was proclaimed as part of state capture recommendations. “This investigation involves entities and one being Eskom, PetroSA, South African Airways, Transnet, the national Department of Human Settlements as well as the SABC,” Xesibe said. “These are entities that were coerced to hold those business breakfast meetings by TNA at the time it was called The New Age and were paid…

Equal Education (EE) and Equal Education Law Centre (EELC) want the Western Cape High court to declare the Western Cape Education Department’s (WCED) failure to timeously place late applicant learners in school unconstitutional and in violation of their rights to dignity and equality, among others. The matter is expected to be heard today. The organisations said the focus in this part of the case would be on the WCED’s policy and its failure to address late applications. WCED spokesperson Bronagh Hammond said the department is opposing the matter and will address this in court. This is part of the case brought by EE and EELC over the placement of learners who applied late in the 2024 academic year. The organisations took the WCED to court, seeking an urgent order…

The 15th annual Shakespeare Schools Festival South Africa (SSFSA) returns to the District Six Homecoming Centre, bigger and better than before. Forty-eight drama groups from in and around Cape Town will be presenting innovative renditions of Shakespeare’s timeless plays. Festival fans can expect captivating performances by passionate young thespians whose creativity knows no bounds. This is pocket-Shakespeare at its most entertaining as participants present abridged 30-to-45-minute versions of the Bard’s iconic works, making all the plays even more accessible and engaging for both young audiences and seasoned theatregoers. Each year, the festival stage transforms into a vibrant platform for self-expression, as talented casts explore their craft through the spoken word, acting, dance, music, song, and physical theatre. Since inception in 2009, the SSFSA has grown into Africa’s largest youth drama…

CAF president Patrice Motsepe held court on Wednesday, lauding Kaizer Chiefs who are closer to qualifying for the Confederation Cup next season. Chiefs will face arch-rivals Orlando Pirates in the final of the Nedbank Cup at Moses Mabhida Stadium on May 10. By virtue of being finalists, Chiefs could play in continental football next season should Pirates finish in the top three in the Betway Premiership log. And with Pirates’ spot all but inevitable as they are gunning for the No 1 spot, Chiefs’ continental qualification is secured according to the boss of African football. Motsepe, was speaking on the sidelines of CAF’s partnership renewal with Africa Global Logistics (AGL) for their major tournaments. “I am proud to see Kaizer Chiefs. Like I said, SA football requires a successful Chiefs,”…

The CAF Champions League semi-finals remain delicately poised, with both ties offering everything but goals in tightly contested first legs. As Mamelodi Sundowns and Orlando Pirates prepare for crucial away fixtures in Egypt, the door to the final remains wide open for both South African giants. Sundowns will be aiming to book a place in their second-ever Champions League final when they take on defending champions Al Ahly at the Cairo International Stadium on Friday (6pm kick-off). Meanwhile, Orlando Pirates face a stern test against Pyramids FC at the 30 June Stadium, with their clash scheduled for 8pm (SA time). Here, Obakeng Meletse explores five key talking points ahead of these eagerly anticipated semi-final encounters. Backs against the wall but the away goal rule might come to the rescue. Both…