Sommaire pour 2025-04-30 de Cape Times

The announcement of substantial tariff hikes by the US administration marked a turning point in global economic outlook, as reflected in the latest Global Risk Survey conducted by Oxford Economics. Launched on April 3, just hours after the US declared 'Liberation Day,' the survey revealed a significant deterioration in business sentiment, continuing a trend of pessimism that lasted throughout the three-week sample period. The latest quarterly survey, completed by 125 clients across sectors, reveals a complex landscape driven by fears of imminent trade wars, economic sluggishness, and shifting global dynamics. The Global Business Sentiment Index, derived from these surveys, indicated a worrying forecast: global gross domestic product (GDP) growth is projected to decelerate to just 1.2% by late 2025. This is half the growth rate businesses anticipated in January and…

Phillipines-based shipping container lines conglomerate, International Container Terminal Services, Inc. (ICTSI), has reaffirmed the legitimacy of its partnership with Transnet for the development of Durban's Pier 2 terminal. The dispute with Danish shipping giant Maersk, which returned to the KwaZulu-Natal High Court for two days of deliberation, could significantly impact one of South Africa’s crucial trade gateways. The High Court issued an interdict last year, temporarily halting the collaboration following Maersk's legal challenge. Despite ICTSI's bid being announced as the preferred option on 11 April 2023, the court's previous decision led to significant frustration regarding delays in critical upgrades to the terminal. ICTSI has since expressed concern that the ongoing legal disputes could further postpone necessary enhancements. In a statement on Tuesday, ICTSI emphasised their readiness to commence implementation of…

The recent tabling of the 2025/26 budget, with its proposed 2% increase in Value Added Tax (VAT) spread over two years, has ignited a firestorm of debate. While the National Treasury aims to bolster State coffers, the potential repercussions for South Africa's agricultural sector and, critically, our nation's food security warrant serious scrutiny. This VAT hike presents a significant threat that demands careful consideration. Agriculture, the bedrock of food security and a significant contributor to South Africa's economy, operates on tight margins. Input costs, ranging from fertilisers and pesticides to fuel and machinery, are already substantial and often volatile. A VAT increase directly inflates these costs. Farmers, particularly small-scale producers vulnerable to price fluctuations and lacking economies of scale, will face increased financial pressure. This could lead to reduced productivity,…

South Africa’s energy system is at a crossroads, facing a worsening electricity crisis, rising demand, and ambitious decarbonisation goals. While renewable energy is rightly heralded as a key solution, it is often misunderstood as the silver bullet to enable sustainable power generation. In truth, generation alone won’t solve the country’s energy woes. The real missing link in South Africa’s energy puzzle is storage. Despite steady progress in solar and wind adoption, these clean energy sources are, by nature, intermittent. Solar panels don’t generate power at night, and wind turbines are silent on still days. Yet our demand for electricity doesn’t follow the weather, but rather daily routines, industrial activity, and seasonal fluctuations. This mismatch between supply and demand is at the heart of South Africa’s ongoing energy instability. Load-shedding, now…

The latest Commodity Markets Outlook from the World Bank paints a worrying picture for the global economy, predicting that declining growth, abundant oil supply, and surging trade barriers will likely push global commodity prices to their lowest levels of the 2020s. As crisis looms for developing economies reliant on commodity exports, World Bank experts on Tuesday warned of an emerging economic landscape fraught with challenges. Forecasts indicate that global commodity prices are set to decrease by 12% in 2025, with an additional 5% drop expected in 2026, bringing prices down to levels unseen since 2020. While nominal prices may still surpass pre-pandemic figures, an inflation-adjusted evaluation reveals a stark reality: prices are likely to sink below the average levels maintained from 2015 through 2019, signalling the end of a commodity…

“China has hit back hard against the United States' tariffs, not only to safeguard our own interests and legitimate rights, but also to safeguard the international trade system with fairness and justice.” This was how Chinese Consul General in Cape Town, You Wenze, articulated China’s strong response to the US' significant escalation in its ongoing trade conflict with not only China, but other key trading partners. On April 2, 2025, the US imposed a sweeping set of "reciprocal tariffs", including a 34% tariff hike on Chinese imports. In response, China firmly rejected these measures, reaffirming its commitment to free, fair, and multilateral trade practices that benefit all nations. You explained that the imposed tariffs severely infringe upon the legitimate rights and interests of all countries, violate World Trade Organization (WTO)…

Tensions peaked in the Western Cape High Court yesterday as Judge Nathan Erasmus pressed the State on key contradictions in the case of six-year-old Joshlin Smith’s disappearance. While the prosecution insists there was a deliberate agreement to sell the child, Erasmus raised concerns about misalignments between the star witness’s evidence and that of the accused. At the centre of the storm is Lourentia ‘Renz’ Lombaard, a Section 204 witness who confessed to her role in the events surrounding Joshlin’s vanishing on February 19, 2024, but has been granted immunity in exchange for full disclosure. Her testimony forms the backbone of the State’s case, alleging that Joshlin’s mom, Racquel ‘Kelly’ Smith, conspired with Jacquen ‘Boeta’ Appollis, and Steveno ‘Steffie’ van Rhyn to sell Joshlin for R20 000, a plan supposedly conceived…

The Proteas Women’s team were left to rue a couple of dropped catches and fielding mishaps with opener Tazmin Brits’ 109 not enough to get them over the line in the Tri-Series opener against India in Colombo. Although Brits was also dropped on 51 by Deepti Sharma off her own bowling and 67 by captain Harmanpreet Kaur at mid-off, India’s overall ground fielding in diving to save boundaries particularly during the death overs proved to be the difference in claiming a 15-run win. India had totalled 276/6 - which would have been a record chase for the Proteas - courtesy of opener Pratika Rawal's 78 - her fifth successive fifty-plus ODI score - and Laura Wolvaardt’s team leaking 82 runs in the last 10 overs. This was partially due to…

Minister expected to host a media briefing to explain Budget 2025 technical process Finance Minister Enoch Godongwana could be preparing for an unprecedented third budget speech after the reversal of a 0.5 percentage points increase in value-added tax (VAT) last week. This comes as Godongwana on Wednesday will host a media briefing to explain the technical process that must now be undertaken regarding the 2025 Budget. This decision follows a court challenge brought forward by the Democratic Alliance and the Economic Freedom Fighters regarding the proposed VAT hike in the 2025 Budget. The Western Cape High Court ratified an agreement reached out of court on April 27, allowing Godongwana to rescind the increase, which was initially set to take effect on May 1. Waldo Krugell, an economics professor at the…

Johannesburg is set to host the World Union of Wholesale Markets (WUWM) Conference from May 14-16, 2025, at the Sandton Convention Centre. The event aims to highlight Africa’s growing significance in the global fresh produce industry while addressing critical issues such as food security, climate change, and the modernisation of markets. The conference, themed “The African Edition: Shaping the Future of Fresh Produce through Sustainability, Innovation and Inclusivity,” is being organised by Joburg Market, the largest fresh produce market on the African continent. It is expected to draw industry leaders, policymakers, and innovators from over 200 member countries. Discussions will focus on global agriculture value chains, Africa’s potential for exports and imports, and the integration of advanced technologies to improve market efficiency. Joburg Market plays a central role in South…

Every year, Freedom Day enables us to reflect on and pay tribute to the day South Africa initiated an irreversible transition grounded in the principles of inclusivity, equality, and justice through the country’s first democratic elections. That momentous occasion 31 years ago elected 490 able South Africans to constitute the Constitutional Assembly and entrusted them with the responsivity of drafting our democratic Constitution which would serve as the supreme law and a blueprint for a just and equal society. Transitions have long been a part of South Africa’s journey, and now, the crucial shift toward a low-carbon future presents an extraordinary opportunity to transform our nation. The transition is not just an environmental necessity to ward off the climate crisis; it is a pivotal moment for nation-building that we cannot…

WeBuyCars Holdings’ core headline earnings per share would likely increase only between 0% and 4% in the six months to March 31 after double-digit earnings growth was diluted by more shares in issue, the motor retail group said in a trading statement on Tuesday. The share price fell 2.7% to R42.70 by midday, but the price is still more than double the R19.19 it traded at a year ago. Although WeBuyCars trades in used vehicles, the 10.5% year-on-year increase in new car sales in the first quarter to 144 426 units sold indicates a recovering vehicle market, overall. The company said in the trading statement that its core headline earnings per share for the interim period was expected to be between 119.4 cents and 124.2 cents. Core headline earnings were…

Combined Motor Holdings’ (CMH) headline earnings a share fell 25.6% in the year to February 28 as vehicle affordability continues to wane among South African consumers. The dividend declared fell 22.3% to 171 cents a share from 220 cents last year. Revenue increased 3.2% to R13.25 billion. Total profit fell 26.2% to R301.49 million, marking the second year in a row of decline. CMH operates in the motor retail and distribution, car hire, and financial services segments in South Africa, employing 2,666 people. It has 43 retail motor dealerships representing 29 brands in Gauteng, KwaZulu-Natal, and the Western Cape. Its Mandarin Parts Distributors business imports aftermarket vehicle parts. CEO Jebb McIntosh said in the results that while a mild resurgence in new vehicle sales in the last quarter was encouraging,…

THE fight to hold President Cyril Ramaphosa accountable over the Phala Phala saga appears far from over as ActionSA has now set its sights on having access to the information that led to the Independent Police Investigative Directorate's (Ipid) report being shelved from the public. The investigation relates to the alleged cover up of the theft of hundreds of thousands of US dollars in cash from Ramaphosa’s couches on his Phala Phala farm, in Limpopo in 2020. Despite there being no police case opened, state resources including sophisticated machines deployed to intercept devices were used to track down the suspects who stole the cash. Once found, among them in Cape Town, the suspects were allegedly assaulted to disclose the whereabouts of the remaining cash. Some of it had already been…

The South African Revenue Service (SARS) has issued a warning to vendors and consumers about the implications of the reversal of the planned 0.5% VAT rate increase. SARS Commissioner Edward Kieswetter noted that the decision by Finance Minister Enoch Godongwana to reverse the VAT increase, initially set to take effect on May 1, 2025, has significant practical implications for VAT vendors and consumers. The warning comes after the Western Cape High Court’s full bench set aside the adopted 2025 Fiscal Framework and Revenue Proposals and suspended the implementation of the VAT increase from 15% to 15.5% recently. The EFF and the DA had approached the court to have the VAT increase announcement by Godongwana as well as the adoption of the finance committees' report by both Houses set aside. Kieswetter…

Liverpool have been untouchable in their march to the 2024/25 Premier League title. Here, Rowan Callaghan takes a look at five players who have stood out in a remarkably strong team performance from Arne Slot’s side. Alisson Becker Liverpool’s Brazilian goalkeeper has enjoyed another great season. Despite No 2 Caoimhin Kelleher stepping up admirably in his injury-enforced absence, Alisson remains an assured presence in goal for the Reds. He can rightfully lay claim to the title of the best goalkeeper in one-one-situations in the league. As the last line of defence, Alisson has often had to bail the Liverpool backline out of some tricky situations. He has conceded a miserly 20 goals in his 24 league games so far, including 10 clean sheets. Only Matz Sels of Nottingham Forest and…

The Agricultural Business Chamber of South Africa (Agbiz) has expressed optimism over China's intentions to bolster its imports of South African agricultural products. This development comes on the heels of a recent statement from Wu Peng, the current Chinese Ambassador to South Africa, who emphasised the need for enhanced bilateral trade and economic cooperation through social media platform X. Peng further said that the Chinese government welcomes more South African agricultural and industrial products to enter the huge Chinese market. Wandile Sihlobo, chief economist at Agbiz, underscored the significance of such statements from Chinese officials, particularly regarding trade matters. “China has profound importance in global agriculture. In 2023, China was a leading importer, accounting for 11% of global agricultural imports, with imports valued at $218 billion," he said. Sihlobo noted…

The global economy showed resilience in 2024, but signs of weakness are emerging against a backdrop of slower growth, persistent inflation, and an uncertain policy environment, according to the OECD’s latest Interim Economic Outlook. The report highlights risks, notably that further tradefragmentation could harm global growth prospects.The outlook projects global growth slowing to 3.1% in 2025 and 3.0% in 2026, with significant regional variation. Inflation is expected to remain higher than previously forecast, though still moderating asgrowth slows. The US economy entered 2025 in good shape, marked by cooling inflation, solid growth, andexpectations of rate cuts. However, US consumer sentiment dipped in January for the first time in six months, hitting a three-month low, driven by growing concerns about unemployment and the inflationary effects of the new tariffs. The escalation…

In Uganda’s remote Buheesi village, a school once disconnected from the world now accesses digital textbooks and submits reports in real time, thanks to a pilot program merging rural electrification with fibre-optic deployment. This transformation underscores the power of digital inclusion, a force that can reshape economies and empower millions. At its core, financial technology (fintech), the use of digital platforms like mobile apps and blockchain to deliver banking, payments and investment services, drives this change by making financial systems accessible to the underserved. For Africa, with 18% of the global population but less than 1% of the world’s data centre capacity, digital inclusion is not just about connectivity; it is about economic sovereignty and global competitiveness. South Africa, with its industrial strength and technological promise, is poised to lead…

Novus Holding, the printing, packaging and tissue manufacturer, has won a High Court appeal to overturn a decision taken by the Takeover Regulation Panel (TRP), to withdraw its approval of the takeover of ICT distributor company Mustek. On March 28, 2025, the TRP had ruled that it had “unilaterally withdrawn” its approval of Novus’ announcement on November 15, 2024, to acquire Mustek, and it had asked that Novus publish a revised offer. Novus had originally made a mandatory offer to Mustek shareholders for shares it did not already own, of R13 cash per share, or R7 in cash plus one Novus share, or two Novus shares per Mustek share. Novus has pursued Mustek as part of a strategic diversification strategy. Novus “strongly disagreed” with the TRP ruling and appealed the…

Having humility, treating everyone with the same level of respect, whether they are a king or queen, president, or someone that cleans toilets, being committed to continuous learning and understanding the value of other people were among the tips, advice and secrets to success shared by Sekunjalo chairman Dr Iqbal Survè at a recent gathering. Survè was speaking at an imbizo held for nearly 500 employees who represented various companies under the Sekunjalo Group, at the Cape Town International Convention Centre last week. He expressed gratitude for everyone’s contribution to companies they work for and shared advice from his own journey. Survè spoke about the family values he lives by — treating people the same, and key lessons learned as a medical doctor while treating patients and working with political…

THE death threats levelled against Knysna Mayor Thando Matika in a voice note circulated in a Whatsapp group could be linked to the upcoming by-election in ward 8, following the resignation of the former mayor, Aubrey Tsengwa. This is according to the ANC Victor Molosi Region in Knysna as police confirmed they have since launched an investigation into a case of intimidation. "The matter is investigated by our Provincial Detectives Serious and Violent Crime Investigations who have already identified a suspect. Upon completion of the investigation, the docket will be submitted to the Senior Public Prosecutor to decide whether prosecution will be instituted or not. No one has been arrested yet," said police spokesperson Malcolm Pojie. According to the ANCYL Victor Molosi Region “disturbing” voice notes had been circulating, in…

Eastern Cape artist, Thembani Hastings Mqhayi, has expressed his disappointment against the government's failure to resolve the ongoing dispute over the national flag. Mqhayi, who claimed that the flag had his design, said the country flew a questionable flag to celebrate Freedom Day. He claimed that his work was erroneously credited to Fredericks Brownell, who served at the National Archives of South Africa as State Herald between 1982 and 2002. Mqhayi, who is the manager for Cultural Affairs in Amathole District, East London, claimed that the flag is one of the five different original designs he submitted in early 1994 to the office of the Department of Sports, Arts and Culture. This was after the late former president Nelson Mandela, in 1993, made a call that artists and citizens submit…

Barcelona last reached the Uefa Champions League final a decade ago, with Lionel Messi as their torchbearer. Now, the Catalan giants are pinning their hopes on another generational talent — Lamine Yamal — as their ‘X-factor’ when they host Inter Milan on Wednesday in the first leg of the semi-final. At the peak of his powers, Messi scored two stunning goals in the 2015 semi-final first leg against Bayern Munich en route to the treble. While Yamal, just 17, is still refining his finishing, he is already pivotal to Barcelona’s hopes of continental success this season. Left-footed but operating on the right flank with the freedom to roam — just as Messi did for many years — Yamal gives Hansi Flick’s Barcelona their attacking edge. He demonstrated that perfectly in…