Índice para 2025-02-10 em Cape Times

The automotive industry is reeling from uncertainty as ArcelorMittal South Africa (Amsa) announces a temporary reprieve on the closure of its Longs steel division, a move that could still have dire consequences for vehicle manufacturers. Initially set to roll out at the end of this month, the shutdown will now be postponed for one additional month as discussions continue regarding potential government support, including a significant R380 million shareholder loan from the Industrial Development Corporation. Ryan Seele, an executive member of the National Automobile Dealers’ Association (NADA), on Friday voiced significant concerns about the impact of Amsa’s operational losses, which have reached a staggering R1.1 billion. “The decline of ArcelorMittal South Africa’s Longs steel business and its substantial operational losses of R1.1bn are deeply concerning, particularly for the automotive sector,…

The Black Business Council (BBC) has successfully advocated for a crucial amendment to Transnet's recently published Network Statement. The Transnet Network Statement outlines the terms and conditions for access to the national rail infrastructure by private sector players, including access conditions, capacity allocation and pricing structures. This initiative is a key milestone in the implementation of the National Rail Policy White Paper and the Freight Logistics Roadmap, which aim to position rail as the backbone of South Africa’s transport system. The document, originally issued in December, has been called into question due to the exclusion of black empowerment initiatives, leading to widespread concerns that Transnet’s rehabilitation efforts would disproportionately favour established, predominantly white businesses. The BBC’s insistence on including black empowerment provisions is a pivotal move in the ongoing struggle…

Although President Cyril Ramaphosa, during his State of the Nation Address (Sona) last Thursday evening, tried to indicate the structural adjustment economic processes that the Government of National Unity is likely to introduce in the next three years, analysts, political commentators, and economists remain sceptical. Some of the strategies were already supposed to be introduced under the previous ANC government, but they did not materialise. These include: “Eskom is on course to complete its unbundling process by December 2022.” (2022 SONA); “Within 100 days, we will finalise a comprehensive social compact to grow our economy, create jobs, and combat hunger.” (2022 SONA); “Our economy today is three times larger than what it was 30 years ago.” None of these indeed succeeded. Eskom is not unbundled; the social compact is non-existent,…

The business rescue of Tongaat Hulett remains on track although the regulatory approval process is taking longer than anticipated, according to the Vision Consortium. The consortium led by entrepreneur Robert Gumede has taken a significant role in the business rescue process after it won the bid to rescue the southern African sugar and property group, by purchasing its debt and converting most of it into equity. This has ended months of uncertainty about whether a suitable buyer could be found for Tongaat. The implementation of the approved and adopted business rescue plan remains on track as all sales agreements have been concluded except the agreement for the sale of the Mozambican subsidiaries, which is expected imminently, Sashir Milne, Vision Group’s Chief People Person said in a note to staff. Milne…

The private sector has sounded alarm for years about the breakdown of municipal services and infrastructure, and it has the capability to provide expertise and resources, but the government needs to move beyond selective engagement to meaningful partnership. This was according to Chris Campbell, CEO of Consulting Engineers South Africa, who commented after the State of the Nation Address (Sona), where President Cyril Ramaphosa said the government would spend over R940 billion on infrastructure over the next three years, with R375bn of this to be spent by state-owned enterprises (SOEs) to build roads, bridges, dams, waterways, and ports. “It reminds me of a 'bird perched on a wire' – aware of its surroundings but not yet taking flight. Years have passed, and despite numerous policy frameworks and statements of intent,…

Summer is great for beach days and outdoor fun, but not so much for keeping your make-up in place. Between the heat and humidity, it’s easy for your make-up to melt, smudge or fade. But don’t worry! With the right tricks and products, you can keep your look fresh all day, no matter how hot it gets. Here’s how to sweat-proof your make-up like a pro. Start with a clean, moisturised base Before you even think of applying make-up, ensure your skin is clean and well-prepped. Use a lightweight, oil-free cleanser to remove excess oils and sweat. Follow up with an oil-free or mattifying moisturiser to hydrate your skin without making it greasy. Look for moisturisers with ingredients like hyaluronic acid, which hydrates without adding excess oil. Apply a sweat-proof…

The South African Reserve Bank (SARB) remains in the spotlight as the Standing Committee on Finance continues its investigation into the billions in retirement funds allegedly siphoned off during the Steinhoff saga. Committee Chairperson Joe Maswanganyi has made it clear that the SARB is not absolved of its responsibility and must ensure the recovery of funds. Maswanganyi said the Steinhoff investigations have not been shelved by the committee and still awaits supplementary information from the SARB on progress with tracing the money trail. “The Steinhoff matter has never been taken off the agenda. The money owed to the state must be paid back, it is workers money that has to be recovered. We have been monitoring the matter from even the 6th Parliament,” he said. “We are still awaiting reports…

After MI Cape Town completed a remarkable comeback after being basement dwellers to champions at the third time of asking, sweeping former double champions Sunrisers Eastern Cape aside in the final in a manner befitting the new kings, coach Robin Peterson believes this was payback for the die-hards who stuck with the franchise through the difficult times. “I think every time you're involved with Mumbai Indians, you are expected to win,” Peterson said after the 76-run victory over Sunrisers at the Wanderers. “It's no different here, even though the first two years we did try our best, things didn't work out. Bringing Rash back, getting Boulty here and a couple of new additions definitely made the difference. “Not only in the dressing room but on the field as well with…

The ICC Champions Trophy is only a week away, and South Africa have already arrived in Pakistan, as the search for an ICC trophy continues. Before competing in the prestigious tournament, the Proteas are facing a tri-nation series against New Zealand and Pakistan which has already gotten underway. Captain Temba Bavuma is at the helm of a relatively young squad, with several star players remaining in South Africa after recently participating in the SA20 final over the weekend. Bavuma, along with coach Rob Walter, sees this ongoing series as an opportunity to learn about the local conditions and make adjustments that can benefit the wider group in preparation for the Champions Trophy. For the younger players in the tri-series, this represents a chance to showcase their skills and readiness to…

Under the then Steinhoff CEO Markus Jooste, who apparently killed himself almost a year ago to avoid facing charges of fraud relating to the company’s failure, the company’s European unit claimed fake revenue of R6.4 billion while also engaging in some creative accounting to balance the books. Steinhoff, which had operations in about 30 countries through some 650 entities, was South Africa’s largest corporate scandal, collapsing after accounting irregularities were uncovered by then auditors, Deloitte, in 2017. In the 7 000-page PwC report into the wrongdoings at the company, which was officially liquidated on October 13, 2023, the consultancy firm details several accounting shenanigans. One of these included Steinhoff failing to reverse revenue for the sale of an entity that fell through. Towards the end of 2013, Steinhoff Group entity…

It’s been a long time since we have seen South African retailers talk about a positive outlook for the consumer in their trading updates. With the consumer having battled Covid-19, high interest rates, low wage growth, low gross domestic product growth and high inflation over the past five years or so. It was encouraging to see Mr Price in their 22nd January update for the 13 weeks to December 28, 2024 make the following outlook statement. “The 2025 economic growth outlook for South Africa is anticipated to improve in comparison to 2024. A steadily improving consumer environment, aided by decreasing inflation and lower interest rates, continues to build a solid platform for growth in comparison to recent years.” TFG on the rise or pension payouts and retail growth align This…

Often, a comparative analysis based on disaggregated data reveals the essentials required for significant inflection points in the life of a nation. They sharpen the lens of policy, as the comparison will ask the difficult question of what drives the differences observed in performance. The medicine for differential performance in the South African education system is not heroic, podium-based statements but digging deeper into disaggregated data. Therein lie the answers for policy, but this seems to have attracted statesman profanity. In this regard, I have been putting out information disaggregated by race on education that reflects the significant prowess made by Whites and Indians and the regressive nature of Black and Coloured education outcomes. I further worked on the subject by language and pointed to the fact that English speakers…

RCL Foods’ share price shot up 12% on Friday after it forecast a 31.2% to 38.6% increase in headline earnings per share for the six months to December 31. Headline earnings per share (HEPS) from total operations for the group with well-known South African brands such as Ouma, Yum Yum, Selati and Nola were expected to be between 106 cents and 112 cents when compared to the reported HEPS of 80.8 cents from total operations, according to a trading statement by the group on Friday. The strong results follow an equally strong financial year to end-June 2024, where underlying HEPS increased by more than 55%. The share price traded at R10.19 on the JSE Friday afternoon, a price that was little changed over 12 months from 9.30 a year before.…

THE grave and protracted security, diplomatic and humanitarian crisis in the DRC demands immediate collective and sustained attention, Kenyan President William Ruto said. Ruto, the current chair of the East African Community (EAC), was speaking at a high-stakes summit at Dar es Salaam in Tanzania on Saturday where African leaders urged for an immediate ceasefire in the conflict-ridden eastern region of the DRC. The urgent appeal by the joint Southern Africa Development Community-East Africa Community meeting comes amid escalating violence and a deteriorating humanitarian crisis in the region. The leaders emphasised the need for “political and diplomatic engagement” to resolve the conflict, which has resulted in thousands of deaths and displaced multitudes of people. Aimed to address the crisis and find a sustainable solution in the DRC, the summit was…

The football gods continue to contrive against Cape Town City, who suffered a shock Betway Premiership defeat by relegation-threatened Magesi FC at Seshego Stadium in Polokwane on Saturday. It was the first match at the refurbished 15 000-capacity Seshego Stadium, Magesi's new headquarters, which turned out to be a good omen for the home side. Their 2-0 win left Cape Town City gaffer Mushin Ertuğral dumbstruck. This latest defeat marks City’s third loss in four Premiership matches, plunging them into seventh place in the standings. Ertuğral, who took over from former coach Eric Tinkler at the start of January, had enjoyed a promising start with headline-grabbing wins over Kaizer Chiefs and Orlando Pirates within just four days. However, since then, City’s form has soured dramatically, with Saturday's 2-0 whitewash in…

South Africa’s Proteas showed great fighting spirit in Sunday night’s Netball Nations Cup final against England, pushing the hosts until the end, despite being a player down for a big part of the third quarter. The Roses eventually lifted the title at Copper Box Arena in London with a 61-55 win that was celebrated by a boisterous home crowd. World No 5 South Africa got off to a flying start and the score was 15-12 at the end of the first quarter. Rolene Streutker started at goal shooter, somewhat of a surprise call by coach Jenny van Dyk, considering the form of Elmere van der Berg, who dropped to the bench. Nichole Breedt, the star of the last match as goal attack, also had to settle for a place on…

Liverpool suffered a humiliating FA Cup exit as Championship strugglers Plymouth ended their quadruple bid with a stunning 1-0 win in the fourth round on Sunday. Arne Slot's decision to field a weakened Liverpool team came back to haunt him, with Ryan Hardie's second-half penalty sealing Plymouth's epic upset at Home Park. Virgil van Dijk, Mohamed Salah, Andrew Robertson and Cody Gakpo were among the stars rested as Slot made 10 changes from the team that thrashed Tottenham 4-0 in the League Cup semi-final second leg on Thursday. In a remarkably successful first season in charge of Liverpool, it was a rare blunder by the former Feyenoord boss. Liverpool's fourth defeat in all competitions this season was just the third time the Premier League leaders had failed to score under…

Expert says Trump is sending a strong message to South Africa and the ANC A foreign policy expert has warned that South Africa’s trade relations with the US, its second largest trading partner, could begin to deteriorate significantly ahead of handing over the G20 Presidency and the renewal of the African Growth and Opportunity Act (Agoa). This comes after US President Donald Trump on Friday signed an Executive Order to cut funding to South Africa over the government’s land expropriation policy and resettle white farmers whose land will allegedly be expropriated. Without providing any evidence, Trump accused South Africa’s government of “egregious actions”, saying the recently enacted Expropriation Act 13 of 2024 (Act) would seize ethnic minority Afrikaners’ agricultural property without compensation. Professor Michael Walsh, a senior fellow in the…

Davos is not merely an event; it is an altar of power, where the world's true presidents, ministers, billionaires, and corporate titans—converge to carve out the future of economies and nations. More than 3 000 delegates descend upon this Swiss stronghold, yet mere attendance is meaningless. Influence is not measured by credentials but by access, by the silent nods exchanged in the corridors of the Congress Centre, where only 500 of the chosen few are permitted entry. This is where the 0.1% of global decision-makers shape the future, away from the noise, with conversations that later set the course of industries, economies, and policies. There is one lunch, an event so exclusive it is barely spoken about even in the highest circles. To be invited is to be confirmed as…

The 2025 State of the Nation Address by President Cyril Ramaphosa comes as South Africa faces some of its most testing challenges. Cosatu welcomes its progressive commitments and are encouraged by progress achieved over the past year but remain extremely worried about the slow pace of implementation in many instances. Workers and society face severe crises, in particular a 41.9% unemployment rate, high levels of poverty and inequality, weak economic growth, endemic crime and corruption, overwhelmed public and municipal service and struggling state-owned enterprises (SOEs). We applaud the impressive work done to rebuild Eskom and overcome loadshedding. Eskom and our electricity infrastructure remain fragile and need urgent investments to unlock new generation, transmission and distribution capacity. These must be anchored upon Eskom as our publicly owned utility and…

The National Union of Mineworkers (NUM) has expressed deep worry about diamond miner, Petra Diamonds’ plans to retrench 200 employees from its South Africa operations. Petra Diamonds’ prospects for free cash flow generation could be reduced by the slow diamond price recovery, analysts from S&P Global recently said. The company has been restructuring its cost base while it also reported a 9% decline in like-for-like diamond prices for the quarter to end of September 2024. Its plans to lower costs includes retrenching employees and this has not gone down well with labour unions who are resisting this move. “The National Union of Mineworkers strongly rejects the purported retrenchments of about 200 workers at Petra Diamond,” said the mineworkers union on Sunday. “This decision is unacceptable as it will have…

Adolescence is a time of immense change and growth physically, emotionally and socially. For teenagers, their family environment plays a crucial role in shaping their mental health, self-esteem and resilience. We live in a country where family structures are diverse and often influenced by cultural, economic and social factors, understanding the impact of family dynamics on teen mental health is essential. Cayley Jorgensen, a registered counsellor and founder of Ingage Support, spoke to Independent Media Lifestyle about how pivotal family dynamics are to a teen’s development. “Family dynamics are often the foundation of a teen’s sense of identity, safety, and emotional regulation,” she explained. Supportive relationships within the family can foster a strong sense of security and confidence, while strained dynamics can lead to feelings of anxiety, isolation and low…

Police are investigating an incident of alleged preferential treatment after corruption and money laundering accused, Louis Liebenberg was seen kissing his wife, Dezzie Liebenberg after emerging from a police van. Liebenberg appeared before the Bronkhorstspruit Magistrate’s Court on Tuesday where his case alongside his wife Dezzi, and seven co-accused was postponed to July 8, while Liebenberg is expected to apply for bail on February 25. The accused face 42 charges including fraud, theft, racketeering and money laundering. In a video that has gone viral on social media, Liebenberg is seen emerging from the back of a police vehicle with his wife waiting for him outside a police station. SAPS spokesperson, Athlenda Mathe in a statement indicated that police had taken note of the video depicting alleged preferential treatment and favouritism…

The NSPCA says it will launch countrywide inspections of all farms affiliated with a commercial producer following the shocking discovery of chickens starving and resorting to cannibalism at two Johannesburg farms. The organisation was forced to humanely euthanise thousands of chickens at the broiler farms. NSPCA spokesperson, Jacques Peacock, said last Monday their inspectors received an anonymous complaint alleging that chickens had been left without food for at least three days, possibly even five, resulting in the birds cannibalising each other and deaths due to starvation. On inquiry to the farm, which is a contract grower, no conclusive evidence was provided about when the birds were last fed, however, it was divulged that the farm received only half of the scheduled delivery of chicken feed, the organisation said. “In yet…

The General Industries Workers Union of South Africa (Giwusa) says the latest Household Affordability Index report, which shows the average South African worker spends over 57% of their monthly earnings on transport and electricity, highlights the cost of living crisis facing the working-class community. “The fact that this crisis has deepened since the so-called 'New Dawn' around President Cyril Ramaphosa and continues unabated during GNU (Government of National Unity) is a damning indictment of the current President and his administration. It graphically reveals the bankruptcy of the neoliberal policies he has doubled down on. Not only are the plans in his State of the Nation Address (Sona) doomed to fail to curtail the cost-of-living crisis, but his sweeping privatisation of the remaining public services is bound to exacerbate it,”…

Their hopes of making the top four are all but gone, and even if the loss in the North-South derby will sting for a while, the Stormers are still confident they can make the play-offs of the United Rugby Championship (URC). After going down 33-32 to their arch-rivals in Cape Town on Saturday, a first loss at home in the URC against them, the inaugural URC champions know every match from now on will be crucial for them. They came within inches of beating the Bulls, but it’s not all doom and gloom for the inaugural URC winners. While the next two away local derbies could have a significant impact on their placing in the top eight, the run of games at home towards the end of the season will…

After whetting the appetite of millions of MMA fans with his Hollywood-like callout to Alex Pereira, Dricus du Plessis made it clear that Khamzat Chimaev is next on his calendar. South Africa's UFC Middleweight champion Du Plessis imitated the mythological warrior Achilles from the Hollywood blockbuster Troy during his challenge for UFC light-heavyweight champion Alex Pereira, after beating Sean Strickland of the US via unanimous decision at UFC 312 in Sydney on Sunday morning. After referencing Achilles in the build-up to his fight in which Du Plessis told Strickland, “There are no pacts between lions and men." Du Plessis was feeling mythological once again in his post-fight speech, looking over Strickland’s shoulder and into the eyes of Pereira, who helped corner the No 1 contender. "Is there no one else?…