Índice para 2025-02-25 em Cape Times

SolarAfrica has announced it has reached financial close on the first 114MW component of its flagship utility-scale solar project, SunCentral.,in a stride towards sustainable energy in South Africa. This major achievement, made possible through partnerships with Investec and RMB, involves a hefty investment of R1.8 billion and heralds the commencement of the project’s rollout in the sun-drenched Northern Cape province. Located strategically between Hanover and De Aar, SunCentral is poised for extensive development, anticipated to unfold in three phases. The first phase, comprising three 114MW facilities aggregating to a total of 342MW, aims to deliver renewable energy by wheeling it through South Africa’s power grid to a diverse array of off-takers. As the project evolves into its subsequent phases, the total capacity is projected to reach an impressive 1GW. A…

By its very definition, a third-party company is effectively one with which a business has a contract in the same vein as a supplier arrangement and is not meant to be involved in its business affairs. However, Steinhoff wasn’t hands off when it came to companies outside of its business conglomerate as, again through a series of complicated transactions and funding deals, it not only provided some funding for deal-making but also used these entities to move money around. One chapter of PwC’s investigation details the complex deal-making involving Campion and its subsidiaries. PwC’s report, the outcome of a lengthy investigation, stated that: “We have identified the Campion Group as an alleged third-party group of companies which the Steinhoff Group has had a business relationship with.” Campion, which was incorporated…

Chinese tech giant Alibaba said on Monday it will spend more than $50 billion (R921bn) on artificial intelligence and cloud computing over the next three years, a week after co-founder Jack Ma was seen meeting President Xi Jinping. Investors have piled into Chinese technology stocks since the start of the year, with Alibaba - which runs some of the country's biggest online shopping platforms - seeing its shares soar to three-year highs. The gains have been boosted since the Hangzhou-based firm announced robust sales growth last week, adding to signs that the sector is staging a comeback from years of gloom sparked by a government crackdown. Alibaba plans to "invest at least 380 billion yuan (R977bn) over the next three years to advance its cloud computing and AI infrastructure", a…

Sasol’s share price bubbled up 4.23% on the JSE even after the fuel-from-coal and chemicals group did not pay out an interim dividend and headline earnings per share (HEPS) slipped by nearly a third. The group, in its results for the six months ending December 31, reported HEPS lower by 31% to R14.13 per share compared to the prior period. The share price was trading at R90.68 on the JSE on Monday morning, a price that was still 37.8% lower than the R143.25 at which it traded a year ago. “We are committed to... enhancing operational performance and maintaining strict cost and capital discipline to unlock cash generation amid a challenging macro environment,” said Sasol’s President and CEO, Simon Baloyi in a statement. Sasol reported its revenue fell 10% to…

Altron, the South African technology group, said Monday that headline earnings per share from continuing operations will be at least 40% or 41 cents higher in the 12 months to end-February than 103 cents reported for the previous year. The share price fell 2.37% to R20 but remained more than double the R9.71 it traded at a year ago. This was after Netstar surpassed 2 million subscribers mark, driving revenue growth and double-digit increases in earnings before interest, tax, depreciation, and amortisation (EBITDA), and operating profit. In addition, the Platforms segment maintained a strong year-to-date performance, Altron directors said in a trading statement Monday. “Altron’s focus on customer obsession, disciplined strategy execution, and profit improvement strategies have driven continued positive momentum into the second half,” they said. Continuing operations earnings…

Dyeing your hair at home can be a fun, cost-effective way to refresh your look or experiment with new colours. However, it’s not as simple as picking up a box of dye and applying it to your hair. To achieve salon-quality results and avoid common pitfalls, there are several things you need to know before diving in. Here’s a guide that covers everything, from choosing the right colour to aftercare tips for maintaining your new colour. Choose the right hair dye The first step in dyeing your hair at home is selecting the right type of dye. These are the most common options. – Temporary dye: Lasts one to two washes. Great for experimenting with bold colours or special occasions. – Semi-permanent dye: Lasts four to six weeks.…

South Africa’s government has enlisted Deloitte & Touche to investigate the administration of United States Agency for International Development (USAID) grants for HIV/AIDS programmes, Health Minister Dr Aaron Motsoaledi announced yesterday. This comes after US President Donald Trump temporarily suspended the financial support for medication and some posts under the USAID for 90 days, pending a review. The fallout is already visible with health services disrupted, livelihoods lost, and lives at risk. Health services began shutting down in mid-January, including HIV testing, treatment and prevention, sexual and reproductive health services, gender-affirming care for transgender and gender-diverse people, mental health, and harm reduction across South Africa. “We are busy with this process; we have met many people and found the complexity of what is involved. We have hired Deloitte & Touche.…

PROPOSED regulations for the environmental management of offshore oil bunkering aims to prevent bunkering operations in highly sensitive areas or limit the expansion of bunkering operations in areas where the practice is already underway. Forestry, Fisheries, and the Environment Minister Dion George, has called for public comments on the proposed regulations. The department said the regulations were intended to decrease the high risks associated with bunkering on the marine environment, which particularly threatens the critically endangered African Penguin species. Bunkering, which is the supply of fuel for use by ships including loading and distributing fuel amongst available bunker tanks, has various environmental risks, one of which is oil spills. Oil spills can include fire, explosions, serious harm to sea creatures and humans, and can render seafood harmful for human consumption.…

The Competition Commission of South Africa has proposed that Google should contribute between R300 million and R500 million to the South African media industry over a period of three to five years. The payment aims to address the revenue losses suffered by local media outlets due to the uneven distribution of revenue generated by online news content. The Commission yesterday released the much-anticipated provisional report of the media and digital platforms market inquiry, set up in October 2023. The year-long investigation involved gathering evidence through various channels, including public and confidential hearings, expert testimony, a consumer survey and focus group discussions. Commissioner Doris Tshepe said the report launch happens in the context of a media sector that has been under severe financial strain following the digitisation of news consumption. “While…

The SA Canegrowers on Monday welcomed Agriculture Minister John Steenhuisen’s recent commitment to supporting over 24 000 black small-scale sugarcane farmers in South Africa’s multi-billion-rand sugar industry. “These growers in KwaZulu-Natal and Mpumalanga play a vital role in keeping South Africa’s sugar industry alive. In many of these rural areas, small-scale growers are among the few sources of jobs and income, making their success critical to the stability of the economies,” Higgins Mdluli, the chairman of SA Canegrowers, said on Monday. His comments followed Steenhuisen’s Friday night meeting in Mount Edgecombe, north of Durban, with small-scale growers and sugar industry leaders, including the South African Sugar Association (Sasa). There, Steenhuisen affirmed the government’s dedication to these farmers’ sustainability. “I am passionate about the cause of small-scale farmers to ensure their…

Gemfields held a small auction of previously unsold high quality emeralds carried over from its November lot last week and earning $4.8 million (R88m) in revenues, with the company getting higher bids. The company delayed the auction of some of its emeralds as market conditions were less favourable. Diamond and other precious stones producers have been constraining market supply to cajole prices up as competition from lab grown diamonds intensifies. Gemfields auctioned the emeralds carried over from November 2025 during an auction held from February 19 to February 20. The $4.8m revenue it earned from the auction came after 10 of the 13 lots available were sold. The company sold 45 864 carats out of 59 192 carats that were on offer at average prices of $105.49 per carat “This…

The nail fashion industry is flourishing, with gel manicures and acrylic nails among the most popular trends. However, while they may seem like a form of self-care, these treatments can harm natural nails and lead to unexpected health problems. Acrylic nails are attached using nail glue, typically made from a mixture of alcohol, cyanoacrylate, photo-bonded methacrylate and sometimes formaldehyde, which is a known carcinogen. These chemicals can cause skin irritation, dermatitis and even burns. In some cases, the surrounding skin can also be damaged by the glue. Long-term use of gels and acrylics can lead to conditions like pseudo-psoriatic nails, where the skin under the nails thickens and takes on a red, flaky appearance, similar to psoriasis. Severe allergic reactions can cause permanent nail loss, while others may suffer from…

The government, guided by the Health Market Inquiry (HMI), has introduced a draft block exemption to establish a multi-stakeholder framework for setting healthcare tariffs. The move aims to tackle escalating costs of Prescribed Minimum Benefits (PMBs) and non-PMBs, driven by over-utilisation and co-payments, which have made private healthcare increasingly unaffordable. The HMI found that the private health sector suffers from “high and rising costs of healthcare and medical scheme cover, declining benefits, and significant overutilisation of health services,” with no corresponding improvement in outcomes. Health Minister Dr Aaron Motsoaledi and Trade, Industry and Competition Minister Parks Tau announced the proposals in a joint briefing yesterday, citing the absence of a tariff determination framework as a key driver of inefficiencies. “There is a serious concern about access to private healthcare in…

City Speaker Felicity Purchase is expected to face a motion of no confidence next month over what opposition parties said was her failure to uphold the integrity of Council processes, particularly in relation to serious allegations levelled against Mayoral Committee members, among other reasons. Purchase briefly stepped out of a meeting yesterday at the Civic Centre to receive the notice of a motion of no confidence against her which is set to be tabled at the Council meeting on 27 March. The motion is being brought by a multi-party caucus, led by the ANC and includes other opposition parties such as the EFF, GOOD party, National Coloured Congress (NCC), Patriotic Alliance (PA) and Al Jama-ah. The multi-party caucus held a briefing after Purchase signed the receipt of the notice. The…

The Proteas against Australia in a major ICC tournament. Considering everything has gone before it’s enough to send shivers down the spine of even the most ardent South African cricket fan. Fortunately, Tuesday’s encounter in Rawalpindi is not of the knockout kind that invariably goes the way of the world champions. Both the Proteas and Australia won their opening matches of the competition which gives them a bit of breathing space, but that does not mean this Pool B encounter will be any less rousing. There is also, of course, the small matter of an ICC World Test Championship final to be played at Lord’s later this year when Shukri Conrad’s team will be aiming to dethrone the current champs. But that’s still 103 days away, and the Australian attack…

WHEN an Australian cricketer walks into the press conference with a bright smile on his face on the eve of a big match like Alex Carey did on Monday, you just know that they are in the mood for a scrap. If you are the South African senior men's national cricket team that can not be a good sign, given that you are about to face them at Rawalpindi on Tuesday. The Australians' confidence stems from their record-breaking five-wicket victory over England this past weekend, a victory which saw them record the highest successful run chase in the history of the ICC Champions Trophy and their second-highest in ODI cricket. Now, going into the tournament, many teams would have taken this Australia side lightly seeing that they are without captain…

The South African Poultry Association (Sapa) warned on Monday that South Africa faces an “imminent” bird flu crisis, urging immediate action against Highly Pathogenic Avian Influenza (HPAI). With outbreaks surging in the UK and US—where 1.8 million birds were culled in the UK over three months and 23.2 million killed in the US in December 2024 alone, driving egg shortages and price spikes—the risk is stark. Sapa noted that the virus often migrates with wild birds from Europe to South Africa in winter, amplifying the need for proactive steps. “The disease, which has already spread across Europe, the US, and Argentina, remains unchecked in many countries, signalling that the time to act is now,” it said. “The urgency of addressing this looming crisis cannot be overstated. Without vaccination, South Africa…

The next chapter of globalisation has begun: What we might call new globalisation. As Donald Trump was being sworn in, Economist Impact published the fifth edition of Trade in Transition, warning that global trade was heading for its most turbulent spell since the 1930s. In the days and weeks following the inauguration, the predictions made in the report have materialised. President Trump unleashed a fresh wave of tariffs, but this time his targets were prepared. China, Canada and Mexico hit back with counter-measures spanning tariffs, export controls and legal action. This tit-for-tat retaliation threatens deeper fragmentation, reminiscent of the trade wars a century ago. The rules-based system is being undermined, giving way to mercantilist confrontation. Trade policy is becoming increasingly transactional, with rules – and exemptions – to match. For…

Meet Tinashe Mukogo A recent WhatsApp exchange-turned-phone call with Money & Moves founder Tinashe Mukogo about Big Tech leadership had me reflecting on my coverage of Meta's world domination moves over the years. From examining Facebook's ambitious Libra cryptocurrency initiative in 2019 to my recent column about WhatsApp eating the world, I've followed the company's evolving ambitions to embed itself deeper into the global digital economy stack. My chat with Mukogo revealed why this former Siemens executive turned independent consultant and media entrepreneur makes a compelling case for Microsoft’s Satya Nadella being American Big Tech's most impressive chief executive. Nadella’s a corporate leader whose achievements often get overshadowed by the mainstream's fascination with founder-CEOs like Zuckerberg (Meta), Musk (Tesla et al), Huang (NVIDIA) and Chesky (Airbnb). Given Meta’s aggressive expansion…

Anglo American Platinum’s (Amplats) production from the Tumela mine at the Amandelbult Complex in South Africa has been affected by heavy rainfall, forcing it to temporarily stop operations although the company does not expect this to impact its production targets for this year. Amplats’ total metal-in-concentrate for the full year to December 2024 reduced by 7% to 3.6 million ounces while its refined platinum group metals (PGM) production increased by 3% to 3.9 million ounces through the draw down of work-in-progress inventory built-up from prior years. However, sales volumes increased by 4% to 4.1 million ounces. The company had set a target of between 3 million ounces and 3.4 million ounces for production in the current year. After heavy rains pounded the northern parts of South Africa in the past…

The South African National Defence Force (SANDF) Lieutenant-General Ntshavheni Maphaha has accused the government of running a “Mickey Mouse” defence force. This comes after 14 SANDF soldiers were killed in clashes between the DRC armed forces and the M23 rebels last month with the remains of the soldiers having been brought home and handed over to their families at the Swartkop Air Force Base in Centurion last week following a long repatriation process. He indicated that South Africa should be one of the most feared nations in the continent but is reduced to minnows due to the under-finding of the military. Maphaha, speaking during the funeral of Staff Sergeant Ishmael Molahlehi held in the Free State over the weekend warned the government that borders were not protected, leaving South Africans…

That’s it. The league title race is over! Liverpool will be crowned champions of the 2024/25 EPL season. Even the Kopites believe it now. “We’re gonna win the league!” they chanted after the masterful, controlled performance at the Etihad on Sunday. They had been wary of jumping the gun after late slips in previous Premier League title races, but after Sunday’s 2-0 triumph, few would argue with them. Arsenal’s misfire in losing 1-0 at home to West Ham on Saturday handed the Reds the advantage in the title race, and they pounced. Despite a surfeit of possession, and Jeremy Doku’s best efforts, Man City never laid a glove on the Anfield giants. It was an imperious, clinical performance. Once the sublime Mo Salah got their opener against City few would…

Enzo Maresca has challenged his misfiring Chelsea squad to step up during a lean spell for Cole Palmer, admitting "we rely on Cole for everything". The England attacking midfielder has scored 14 goals and provided six assists in the Premier League this season but his last goal was in mid-January and he last set up a goal on December 1. Chelsea, just two points behind runaway leaders Liverpool in mid-December, have slipped to seventh in the table after three defeats in their past four games, though they are just one point behind fourth-placed Manchester City. Maresca, preparing his team to host rock-bottom Southampton on Tuesday, said he was not worried about Palmer's dip in form. "I'm not concerned about Cole because Cole is a human being and during the season…