Sommaire pour 2025-11-13 de Cape Times

South African Reserve Bank defends lower inflation target as key to boosting real incomes and spending power The South African Reserve Bank (Sarb) Governor Lesetja Kganyago has defended the government’s decision to lower the inflation target, saying the move is aimed at protecting the value of money, enhancing consumer purchasing power, and improving fiscal efficiency. This comes as Finance Minister Enoch Godongwana on Wednesday officially reduced South Africa's inflation target to 3% with a tolerance band of 1 percentage point on either side over the next two years in a bid to ease the elevated cost of living on consumers. This new target immediately replaces the previous target range of between 3 and 6% with a midpoint of 4.5%, which has been implemented since 2000. Over the past year, the…

Although Eskom reported an annual profit in 2024/25, for the first time in a decade, the improved financial performance remains at risk, partly due to escalating municipal debt arrears. In 2023/24, government initiated a debt-relief arrangement to strengthen Eskom's balance sheet, enabling it to restructure and undertake essential investments and maintenance required to ensure a stable electricity supply. As reported in the 2025 Budget Review, partly in response to Eskom's improved performance, the National Treasury revised the package, extending the support period to 2028/29 and reducing the total relief provided from R254 billion to R230bn. Legislation introduced in September 2025 provided for these measures. The fiscal risk associated with Eskom has eased, although continued implementation of operational and financial reforms is critical to sustain progress and ensure lasting stability. This…

The South African Revenue Service (Sars) has collected more tax revenue than projected by the National Treasury in the budget tabled in May 2025. According to the Medium-Term Budget Policy Statement (MTBPS) presented by Finance Minister Enoch Godongwana in the National Assembly, Sars collected just over R924 billion in the first half of the 2025/2026 financial year. “As indicated in the 2025 Budget, an additional R4 billion was allocated to the South African Revenue Service (Sars). This allocation was intended in part to strengthen debt collection, and thereby increase revenue collected, by between R20 and R50 billion per year. We will continue to monitor Sars’s revenue performance for the remainder of the year. "This assessment will inform whether the R20 billion in additional tax increases for the 2026 Budget, as…

Woolworths Holdings’ share price shot up 7.7% Wednesday morning after it said sales have increased in all its business segments in the 19 weeks to November 9, the higher-end retailer said Wednesday. The macro-economic environment is constrained across both South Africa and Australia, but the group managed to increase turnover and concession sales well above inflation at 6.2%, and by 6.8% on a constant currency basis, a trading statement to shareholders noted. The share price traded at R57.02 on Wednesday morning, while a year ago it was trading at R67 per share. A previously communicated share buyback programme started in September 2025, with 6.9 million shares repurchased to date, at an average share price of R51.22. The directors said in the update that Woolworths South Africa had delivered “very creditable…

Property group, economists and trade union have reacted positively to the Medium-Term Budget Policy Statement (MTBPS) delivered by Finance Minister Enoch Godongwana on Wednesday. Samuel Seeff, the chairman of the Seeff Property Group, said that the Medium-Term Budget Policy Statement (MTBPS) will provide some comfort to investors. “In particular, I welcome the news around public debt stability, and the potential to end on a primary surplus with a significant narrowing of the overall budget deficit.” Seeff added that he welcomes the new initiatives aimed at targeting efficiency and waste reduction, and of course the grey list exit. “Also welcome is the commitment to direct more resources towards infrastructure investments which could boost property values and development in areas receiving funding. A 1.2% growth rate would be welcomed, although not…

THE government has identified 8,854 cases as high-risk in its effort to eliminate ghost workers. The cases require further verification; a two-month verification process will begin in January 2026, followed by appropriate legal action. The next phase of this project will use a single sign-on application being developed for public servants, as well as improvements to the government payroll system to automate monitoring to prevent irregularities and improve spending efficiency. The high risk cases were identified thanks to a partnership between the National Treasury, the Department of Home Affairs and the South African Revenue Service. In his his 2025 Medium Term Budget Policy Statement (MTBS) yesterday Finance Minister Enoch Godongwana said the government has initiated an audit to not only identify ghost workers, but also identify payment irregularities…

THE next state witness in the ongoing trial of Umkhonto weSizwe Party (MKP) member of Parliament, Duduzile Zuma-Sambudla is expected to clarify whether she was working with the individuals who were part of 164 WhatsApp groups responsible for social media content related to the deadly July unrest. After wrapping up his re-examination of State witness, Sara-Jane Trent yesterday, State prosecutor Advocate Yuri Gangai said his third witness was an expert in downloading cellphone material. The expert will testify on the phone numbers, where Zuma- Sambudla obtained images she posted during the unrest. This will prove whether someone supplied her with the images or whether she simply shared what was already trending, as her legal team argued. In earlier testimony by the two previous witnesses, the State conceded that Zuma-Sambudla was…

THE Pretoria High School for Girls was dealt a major blow when the Gauteng High Court, Pretoria turned down its bid to force the Gauteng Department of Education (GDE) to provide the report on the results of a commissioned investigation into racism allegations at the school. The department in November last year revealed some details of its mandated investigation by Mdladlamba Attorneys to probe allegations of a culture of racism at the school. However, it did not share a copy of the report with the school’s governing body. When asked for a copy, the department directed the school to the provisions of the Promotion of Access to Information Act (PAIA). This Act affords a requester the right of access to records held by public bodies. The investigation came…

Omoda has released the details of their new C7 SUV to be launched this month that slots in between the C5 X Series and the range-topping C9. There are three variants of the C7, starting with the Luxury then the Elegance and the SHS plug-in hybrid tops off the range. Exterior The exterior is defined by an X-shaped frameless grille combined with slim LED headlights with integrated daytime running lights. Omoda has always been defined by its flowing designs, and in the C7, the lines from front to back give it an athletic stance, combined with 19 and 20-inch alloys with red brake calipers depending on the model. Interior With a 2.720mm wheelbase, there should be plenty of legroom for front and rear passengers, with 614 litres of boot space…

The Springbok midfield set to take the field against Italy on Saturday offers an exciting glimpse into the future — and don’t discount the man tasked with directing play at flyhalf in Turin. Springbok coach Rassie Erasmus confirmed in a television interview ahead of the clash with France that he intended to recall Handre Pollard at flyhalf, while testing a youthful midfield pairing of Ethan Hooker and Canan Moodie. Scrumhalf Morne van den Berg will also get an opportunity to showcase his skills. With Erasmus able to plan without recourse to panic selections following the positive result in Paris, Pollard will marshal a backline featuring Hooker and Moodie in the midfield, and a daring back three of Edwill van der Merwe, Kurt-Lee Arendse, and Damian Willemse. For rugby fans, this…

The National Treasury has revised South Africa’s economic growth forecast for 2025 downward, citing weaker global and domestic conditions, but remains optimistic that ongoing structural reforms in energy and logistics will help the economy gain traction in the coming years. In its the Medium-Term Budget Policy Statement (MTBPS) tabled on Wednesday, Treasury said it now expects real gross domestic product (GDP) growth of 1.2% in 2025, down from 1.4% projected in February. The revision follows weaker-than-expected performance in the first half of the year, subdued consumer and business confidence, and a fragile global recovery. Despite the downgrade, the 2025 forecast still marks a recovery from the 0.5% growth recorded in 2024, with Treasury projecting an improvement to 1.8% on average between 2026 and 2028 as reform momentum builds and infrastructure…

Although Transnet has not yet met its own targets, the Medium- Term Budget Policy Statement (MTBPS) notes that progress has been made. In particular, the Treasury said that Transnet's freight rail volumes increased in 2024/25 and port volumes have stabilised. “Reforms in freight logistics focus on upgrading poorly maintained infrastructure and introducing private-sector participation in rail and ports. A rail infrastructure manager was established as a separate division of Transnet in April 2025 and has opened slots on the freight rail network to 11 private rail companies,” the MTBPS said. Transnet is addressing a financial and operational decline as rail volumes have declined from 226.3 million tonnes in 2017/18 to 151.7 million tonnes in 2023/24 due to derailments, inefficiency and infrastructure damage. In 2023/24, Transnet reported a net loss of…

BMW South Africa has reaffirmed its commitment to driving the country’s automotive sector into an electrified future — even as policy uncertainty threatens to slow down momentum across the industry. In an exclusive interview with Business Report on Tuesday, BMW South Africa CEO Peter van Binsbergen said the government’s delay in finalising and implementing the White Paper on New Energy Vehicles (NEVs) was holding back investment decisions for local automakers, warning that time is running out for South Africa to align with global trends. South Africa’s NEV White Paper, released in December 2023, outlines a 10-year strategy for the automotive industry to transition to electric vehicles (EVs). It outlines a roadmap for the local EV production ecosystem, developing charging infrastructure and battery value-chain development, and stimulating market demand through phased…

2025’s Medium–Term Budget Policy Statement (MTBPS) saw debt ratios slightly higher, similar ratios for the fiscal deficit and an upwards revision to revenue projections for two years vs. May, and a lowering of the inflation target. Revised gross revenue projections now show 2025/26 at R2.005 trillion, from the previous estimate of R1.986 trillion, and a near R20 billion (R19.7bn) over-run as expected, due to higher VAT, corporate and dividend tax receipts. However, additional expenditure of R15.8bn is now proposed, and so the budget deficit only narrowed to -4.7% of GDP for this year (2025/26), versus -4.8% projected in May’s Budget, and the -4.5% of the Bloomberg consensus (all as a % of GDP). The fiscal deficit projection remained at -3.8% of GDP for 2026/27 with an estimated revenue overrun of…

In his Medium-Term Budget Policy Statement (MTBPS) speech Finance Minister Enoch Godongwana detailed the promises kept over the past few years. The focus now is on how to grow the economy faster and attract the investment needed to create jobs and improve the life of all South Africans. “Two years ago, we committed to stabilising public debt in the current year and then begin reduce it. Despite a challenging environment of persistently low economic growth, we are on track to achieve this goal. “We also committed to remove South Africa from the Financial Action Task Force grey list. We have delivered on this commitment in just two and a half years. This is thanks to collaboration across government departments, law enforcement agencies and the private sector. Exiting the grey list…

THE ANC’s latest decision to grant Senzo Mchunu special leave from party duties will allow the police minister currently on enforced leave time to prepare for his appearance before the high-stakes Madlanga Commission of Inquiry. Mchunu, a member of both the ANC’s National Executive Committee (NEC) and National Working Committee (NWC), is facing allegations of corruption and political interference within the South African Police Service (SAPS). These accusations particularly focus on his instruction to disband the Political Killings Task Team (PTTT). Asked whether the ANC special leave was to enable Mchunu to quietly launch a campaign for the party’s top job in 2027, Mshengu strongly pushed back against this narrative, clarifying the nature of Mchunu’s absence from party structures. “Mr Mchunu has not stepped aside but has just been…

Crime continues to be a national scourge, and recently released statistics reveal that business-owned vehicles are a higher risk to crime than personally-owned vehicles. Business-owned vehicles range from cargo trucks with trailers to courier vehicles delivering items ordered online. Crime targeting these vehicles proves highly lucrative, with criminals acquiring the vehicle, the goods being transported, and the driver’s personal belongings, such as a mobile phone. Higher risk Tracker’s vehicle crime statistics for January to June 2025 show that business-owned vehicles are 48% more likely to be targeted than personally-owned vehicles. This trend is largely driven by hijackings, with notable shifts in both timing and location. Mpumalanga has emerged as a new hotspot, and incidents are increasingly occurring during the week rather than over weekends. Gauteng leads The Tracker Vehicle Crime…

Sourav Ganguly was a fierce rival of the Proteas in his heyday. But such has the times changed in modern-day cricket that the former India captain was seen in discussion with a couple of Proteas just a couple of days out from the first Test in Kolkata tomorrow. Was Ganguly, commonly referred to as the ‘Prince of Bengal’ and the newly re-elected president of the Cricket Association of Bengal, which oversees Eden Gardens, providing the tourists with confidential information on how the surface will play? Proteas coach Shukri Conrad was certainly not taking the bait, who believed it had more to do with the upcoming Betway SA20 where Ganguly is the coach of the Pretoria Capitals. “Obviously an icon like Sourav, if he’s around and you want to learn whatever…

KEVIN Lerena’s boxing career is still very much alive and looks set to reach even greater heights, yet South Africa’s fistic darling is already making a seamless transition into the promotional space. The WBC bridgerweight champion and his Aquilla Boxing Promotions (ABP) have enjoyed a stellar rookie year, hosting four hugely successful tournaments. In a world where athletes often face uncertainty at the end of their careers, Lerena has already taken steps to ensure he will not join those statistics. Fondly referred to as ‘Two Guns’ for his explosive punching power, Lerena is not only securing his own future but providing a platform for both established and rising fighters, increasing opportunities for competition through regular events. He has spoken openly about his ambition to raise the standard of boxing…

India is home to one of the largest film industries in the world. Bollywood yields figures in the region of $1.5 billion – second only to Hollywood and China. It produces close to 2000 movies annually. But on Friday, the biggest showstopper in the land will feature at Eden Gardens in Kolkata when the world Test champion Proteas face up against their hosts India in the series premiere. It’s the hottest ticket in town with reports emanating from India that the 65 000-seater stadium is already sold out. There may be multiple languages spoken in India, but cricket is the universal mother tongue. The thousands waiting outside the iconic Eden Gardens – despite the presence of heavily armed security – just for a glimpse of their heroes arriving in the…

Finance Minister Enoch Godongwana has assured the markets that South Africa is on track to restore fiscal sustainability, stabilise public debt, and improve spending efficiency, even in a challenging low-growth environment. Delivering the 2025 Medium-Term Budget Policy Statement (MTBPS) on Wednesday, Godongwana said government remains committed to meeting the fiscal targets set out in the February Budget. This is despite the public debt now expected to peak at 77.9% of GDP in the current fiscal year, slightly higher than the 77.4% estimated in May. “I am pleased to inform the House and the country that we are on track to restore fiscal sustainability. Government debt will stabilise in 2025/26, at 77.9% of GDP,” Godongwana said. “This is the first time since the 2008 financial crisis that public debt will not…

The South African Post Office (Sapo) was not mentioned in the Medium-Term Budget Policy Statement (MTBPS), so I had to ask the Finance Minister Enoch Godongwana in his media briefing why that was so. He answered that this was because the Treasury and the Department of Communications and Digital Technologies had not yet finalised what the Post Office of the Future would look like in the digital age. Sapo was placed in business rescue on July 10, 2023. In 2023/24, Sapo reduced costs and met some operational targets, yet it remains financially stressed due to high net losses and low revenue. Sapo used the R2.4 billion allocated in 2022/23 to implement a business rescue plan. As part of this plan, it closed 354 branches and retained 657 branches. The Treasury…

Dipula Properties delivered a strong 5% increase in distributable earnings for the year to end-August and might even beat its guidance for the next financial year of 7% growth, CEO Iszak Petersen said on Wednesday. Full-year distributable earnings per share came to 57.26 cents. Petersen noted that although there was not much acquisition activity in the diversified retail, industrial, and residential REIT this past year - Dipula focuses on township and rural areas for its retail properties in particular - “there is a bit of a pipeline of potential acquisitions; we are excited about it,” he said in a briefing. He stated that the results reflected prudent capital allocation, “rigorous asset management, financial and operational discipline, and the reignition of acquisitive growth.” Dipula had finalised five acquisition agreements in August…

The government will launch a R15 billion infrastructure bond soon to help fund badly needed infrastructure projects, which, in turn, should provide a stimulus for faster economic growth and job creation in the economy. Finance Minister Enoch Godongwana said in the MTBPS that the government will also contribute R2bn to capitalise a Credit Guarantee Vehicle. Initially, this vehicle will support electricity transmission expansion - South Africa’s renewable energy rollout is being stymied by a shortage of thousands of kilometres of transmission lines, such as between the Northern Cape, where many new renewable energy operations are based, and other parts of the country. “This heralds a new era in PPPs (Public-Private Partnerships), where private investment in high-voltage transmission lines is enabled,” he said. South Africa has, for at least two decades,…

THE Madlanga Commission of Inquiry established to probe the infiltration of the criminal justice system by criminals will be funded to the tune of R147 million. This emerged when Finance Minister Enoch Godongwana announced that R5.2 billion was allocated from the previous financial year and unforeseen and unavoidable expenditure of R1.6 billion in the 2025 adjustment budget. Tabling his Medium Term Budget Policy Statement (MTBPS), Godongwana said the allocated amounts will cover disaster relief and funding for the Madlanga Commission of Inquiry. “It also includes spending announced at the time of the 2025 Budget for the National Dialogue, Statistics South Africa and the Office of the Chief Justice and confirms the provisional allocations for health and education, including early childhood development.” The allocations were proposed for disaster relief backlogs…

SUSPENDED Ekurhuleni Metro Police Department (EMPD) acting chief Julius Mkhwanazi allegedly facilitated the registration of vehicles purportedly donated by CAT Security Protection Services linked to businessman Vusimuzi “Cat” Matlala through a fleet corporate proxy managed by Chris Steyn. The vehicles identified as a BMW X5, a Mercedes-Benz C-Class, a BMW 3-Series, and a VW Golf were registered under the municipality and fitted with blue lights. Testifying before the Madlanga Judicial Commission of Inquiry yesterday Xolani Nciza, former City of Ekurhuleni divisional head of employee relations said the donation was flawed as there was no legal agreement with the municipality. It also appeared to be a working relationship between Mkhwanazi and the donor. He suggested Mkhwanazi should have compiled a report highlighting EMPD’s capacity issues, including vehicle shortages, personnel…

TO reliably determine the age of fossil-bearing rocks, an international team of geologists and palaeontologists are pioneering a methodology that directly dates fossilised dinosaur eggshells. “Eggshell calcite is remarkably versatile,” says Dr Ryan Tucker from Stellenbosch University’s Department of Earth Sciences. “It gives us a new way to date fossil sites where volcanic layers are missing, a challenge that has limited palaeontology for decades.” Tests on dinosaur eggs from Utah (USA) and the Gobi Desert (Mongolia) showed that the eggshells record ages with an accuracy of about five percent relative to precise volcanic-ash dates. In Mongolia, the team determined the first-ever direct age — around 75 million years old — for a historic locality preserving dinosaur eggs and nests. By showing that dinosaur eggshells can reliably record the passage of…

More details have emerged following the official reveal of the new Toyota Hilux in Thailand, and no doubt South Africans will be champing at the bit to continue its status as the country’s favourite bakkie. We know that the new Hilux will also be built at the Prospecton plant in Durban, but at this stage, we know only that it will be released sometime in 2026, with models and specifications still under wraps. Powertrains According to the official Australian press release, all grades of the new Hilux will be powered by the company’s 2.8-litre turbo-diesel four-cylinder engine, producing 150kW and 500Nm of torque paired to a six-speed automatic transmission. Variants fitted with a six-speed manual transmission develop 420Nm of torque. At this stage, there is no official word on whether…

Last week, Springbok coach Rassie Erasmus signalled that he would freshen up his side for Saturday’s Test against Italy in Turin. After the pressure-cooker encounter against France in Paris, he will be doubly keen to give sore bodies a rest. It is not about underestimating the Italians – far from it. The Azzurri impressed in their win over Australia last week, a team that had earlier beaten the Boks at Ellis Park this year. Two factors are expected to guide Erasmus when he names his match-day 23 this afternoon: the need to rest key players ahead of next week’s crunch clash with Ireland in Dublin, and the desire to reward the wider Springbok squad on tour. Trust in his back-up players has been a hallmark of Erasmus’ tenure. When given…

Almost two months into the new 2025/26 domestic season and having played eight matches across two different formats, the Titans will be looking to save what is shaping up to be the team’s most dismal campaign yet. In the South African domestic cricket scene, Titans cricket – and Northerns cricket at large – are synonymous with excellence. Over the years, the Centurion-based side has been the dominant force, winning multiple trophies across all three formats. As a result, the team has produced and continues to produce numerous Proteas players. However, this season, the Titans have looked a shadow of the powerhouse the country has grown accustomed to. The new era under coach Rivash Gobind has yet to spark into life. Since taking charge, Gobind’s team has managed just one victory…

Former Proteas Test captain and opening batter Dean Elgar has emphasised the importance of meticulous preparation ahead of what is often a gruelling Test series in India. For the Proteas, touring India can be a brutal experience. Many players have arrived on Indian shores brimming with hope for a long Test career, only to have their ambitions crushed by India’s ruthlessness at home — returning with their tails between their legs. In some cases, those players have struggled to see a future for themselves in Test cricket afterwards. Simon Harmer is one such example. After the 2015 tour, during which South Africa were whitewashed, Harmer was dropped from the squad. Senuran Muthusamy knows that experience all too well, having been omitted from the Test side after his maiden tour to…