Índice para 2025-03-24 em Cape Times

The government is racing against time to avert the collapse of the steel industry, engaging major player ArcelorMittal South Africa (Amsa) in crucial negotiations aimed at sustaining its Longs Steel business. Amsa had decided that it was closing its longs steel manufacturing plants in Vereening and Newscastle by April this year, but said on Thursday that it was engaging the government and financiers “regarding funding and related matters to enable the deferral of the wind-down of the longs” business. The company and government were also discussing steel industry issues that were affecting the viability of Amsa’s operations, including an influx of cheap scrap and imports of cheaper steel as well as logistical constraints. The Congress of South African Trade Unions (Cosatu) said it was supportive of these measures. It said…

Walsh says recent article by President Ramaphosa clearly raises the stakes in the matter A US policy expert has warned that the new US Federal Maritime Commission (FMC) inquiry launched last week could pose significant risk for US-SA relations via potential shipping sanctions, at a time when relations between the two countries were already at an all-time low. The Federal Maritime Commission is gathering information about seven international maritime chokepoints to identify any regulations, policies, or practices that create unfavorable shipping conditions. The seven chokepoints being examined are: the Northern Sea Passage, the English Channel, the Malacca Strait, the Singapore Strait, the Strait of Gibraltar, the Panama Canal, and the Suez Canal. Michael Walsh, a non-resident senior fellow at the Foreign Policy Research Institute, an American think tank based in…

Transnet Port Terminals (TPT) is embarking on an ambitious development programme that includes procuring new equipment and expanding capacity at the Cape Town Container Terminal in a bid to enhance operation efficiency. This was revealed at an engagement between TPT and the South African Chamber of Commerce and Industry (Sacci) on Thursday. Oscar Borchards, managing executive for Western Cape Terminals, said that TPT was working around the clock to improve efficiency. “We also need the support of the entire supply chain, whether it be importers or exporters. We from Transnet work 24 hours a day, seven days a week. There’s no rest; we have a four-shift system, and the teams are working flat out,” he said. Borchards added that they wanted to work together in collaboration with the private sector…

HUMAN Rights Day is a chance to celebrate our gains and rededicate ourselves to improving workers’ lives. We have much to celebrate as a nation and trade union movement with real gains advancing human rights since 1994 under successive ANC-led governments. We are governed by a progressive Constitution affirming the human rights of all citizens, in particular the vulnerable. Critically it compels government to interpret human rights not through a narrow liberal perspective but rather an inclusive socio-economic perspective befitting South Africa’s still present apartheid and racially skewed landscape. Workers’ rights are interlinked and inseparable from human rights. Cosatu was formed not only to defeat apartheid but also to improve the working and living conditions of workers. Apartheid was based on the exploitation and suppression of the human rights of…

The Industrial Development Corporation (IDC) has issued a R2.046 billion maiden sustainability bond, exceeding its R1.5bn target amid strong investor demand, the state-owned funder said this week. The bond, oversubscribed with an orderbook of R3.464bn, was issued in 5-, 7-, 10-, and 12-year tenors, with proceeds earmarked for projects under IDC’s Sustainable Finance Framework, including renewable energy and green hydrogen initiatives. The International Finance Corporation (IFC), part of the World Bank Group, anchored the issuance with a subscription of over R1bn. IDC CEO Mmakgoshi Lekhethe said, “This achievement underscores the market’s confidence in our commitment to investing in sustainable and climate-resilient projects that seek to strengthen and industrialise South Africa. " She said among other projects the IDC has a promising pipeline in renewable energy projects including its ongoing support…

As the crisp air of autumn sets in and the leaves begin to turn, one might assume that hearty stews and warming casseroles take centre stage on our dining tables. However, there lies a vibrant alternative that melds the seasonal bounty with the promise of health: salads. This autumn, salads are not merely summer remnants but they are an essential part of our diet that provides nourishment, diversity and a delightful crunch amidst the cooler temperatures. Often celebrated for their refreshing qualities, salads also serve as a powerhouse of essential nutrients, making them an excellent choice as we prepare our bodies for the winter months. Loaded with fibre, vitamins and minerals, seasonal salads can enhance immunity, improve digestion and even boost mood - crucial elements as we transition into the…

The International Partners Group (IPG), a coalition comprising countries including the UK, Germany, France, and the European Union, has announced its intentions to fill the funding gap left by the US after its withdrawal from the Just Energy Transition Partnership (JETP). This decision follows the US severing its financial support, which previously included $56 million (R1 billion) in grant funds and $1bn in commercial debt and equity aimed at aiding South Africa’s transition from coal to cleaner energy sources. In a statement, the UK’s Foreign Commonwealth and Development Office highlighted discussions among IPG partners to continue supporting initiatives that had been financially backed by the US. The total initial international pledges to South Africa now amount to $12.8bn, which incorporates more than $9bn from the IPG along with contributions…

ON FEBRUARY 26, the US government issued around 5,200 termination letters to programmes worldwide funded by the US Agency for International Development (USAID) and 4,100 funded by the Department of State and the President's Emergency Plan for AIDS Relief (PEPFAR). These programmes were ordered to shut down operations immediately and permanently. Many provided essential and lifesaving healthcare services for malaria, Ebola, malnutrition, sexual and reproductive health (SRH), HIV and tuberculosis (TB), and vaccination among other critical health issues. These abrupt terminations came after more than a month of chaos and devastation for hundreds of organisations working in these sectors, since the initial foreign assistance freeze was enacted in late January. Doctors Without Borders (MSF) is deeply saddened and angered by the casual inhumanity of these decisions, which will inevitably…

Residents and business groups in Gugulethu have been interdicted against any disruption and protests at the Gugulethu Mall after they could not show the Western Cape High Court that they posed no threat in engaging in such activity. This comes after years of contention around the development of the shopping centre where residents and business interest groups demanded they be given preference to work or operate their businesses there. In 2023 and early 2024, Gugulethu Mall owner, Vukile Property Fund Ltd, received demands from what appeared to be various community associations going by different names. They demanded, among other things, the employment of a greater proportion of local Gugulethu residents at the mall. In August last year, the property owner received a letter demanding that 80% of the employees be…

The WHO urgently needs a revised if not new funding structure WHEN established and some of the wealthiest democracies start to callously weaponise funding for medical research, vaccination programmes and healthcare aid to developing nations as a tool of a highly ideologised but reckless foreign policy, the only winners are the billions of pathogens gorging themselves in an orgy of potential outbreaks, epidemics and pandemics. You don’t need a degree in virology or microbiology to understand the devastating socio-health consequences of blocking funding and resources, thus disrupting established and efficacious vaccination programmes against tuberculosis (TB), polio, HIV/Aids, measles and so on in some of the poorest countries. In South Africa for instance, one of the most targeted countries, some 900 000 HIV patients are potentially affected by the abrupt and…

Shaftesbury Capital’s share price soared over 13% on the JSE Thursday morning after announcing plans for a £570 million (around R13.4bn) cash injection through a long-term partnership with Norges Bank Investment Management (NBIM), the Norwegian sovereign wealth fund. The JSE, A2X, and London-listed UK property group will sell a 25% non-controlling interest in the Covent Garden estate to NBIM, with Shaftesbury retaining 75% ownership and management control over the estate. The deal values the Covent Garden estate at £2.7 billion, in line with an independent property valuation as of December 31, 2024, with expected cash proceeds of about £570m. On the JSE, Shaftesbury traded at R31.16 Thursday morning, a price marginally below the R33.50 it was trading at a year before. “This partnership brings together two long-term investors who have…

Financial services firm Investec expects a modest increase in operating profit for the year ending March 31, 2025, despite a tough economic climate, but headline earnings per share (Heps) could fall by up to 8% due to non-recurring gains from the prior year. In a pre-close trading update for the 11 months to February 28, 2025, Investec projected Heps between 67.2 pence (R15.66) and 73.5p, compared with 72.9p in 2024, reflecting a potential decline of 8% or a slight rise of 1%. Adjusted operating profit before tax is forecast to range from £888 million to £956m, up from £884.5m last year, buoyed by resilient client franchises. “We are pleased with the performance of our client franchises, which continued to report progress against our strategic priorities and support revenue growth in…

Government policies are an attempt to change how the market behaves (importing too much? Let's impose an import duty). When government, in 2012, decided to move money from packaging companies, car makers, and steel fabricators to the mini-mills (companies making steel out of scrap metal), by way of the Price Preference System (PPS), and then later friendly Industrial Development Corporation finance and export duties, they made the steel from mini-mills cheaper relative to both imports and steel from ArcelorMittal South Africa (Amsa). That is what economists call a trade-off and every policy decision has one, whether taken deliberately or not. Policies, by their nature, shift resources from one part of the economy (manufacturers, scrap recyclers, waste pickers, Amsa) to another part of the economy (mini-mills). This was the intention, but…

I tell the story many a time when I am faced with choices of having to mourn. Mourning is a collective action of expressing pain. It can be amongst people or about an individual. The effect of mourning is that it takes on total immersion of the body and soul. The body gets exhausted as all its parts cave in to give recognition to the one whom, in breathing flesh, cannot be communed with. Collectively, it arouses moments of collapse and fainting in very spectacular form. To say that US President Donald Trump’s signing of ​executive orders has brought about global mourning is to put it mildly. Economically, the demise of livelihoods is not on the horizon​, but in households, driving generational harm in terms of deaths deprived of immediate…

We have all been there, going through our kitchens late at night, only to realise we are out of our favourite snacks, or worse, still needing to restock on essentials but having to wait until morning. But retailers such as Woolworths and delivery apps such as Zulzi or Uber Eats are putting those days behind us. Thanks to a growing trend in late-night grocery shopping, retailers are now catering to your after-dark needs; creating convenience, and flexibility, and making lives easier. One of South Africa’s biggest food retailers Woolworths has partnered with Uber Eats and Engen Quickshop & Co recently launching delivery service “Woolies After Dark” to make it easier for their customers to access and have their goodies delivered right at their doorstep until midnight. Customers can now shop…

As South Africans commemorated Human Rights Day, parliamentarians took to the greens for the annual golf day, uniting in the fight against gender-based violence (GBV). The event, sponsored by several organisations including the Sekunjalo Group, was held at the Kuils River Golf Club on Friday morning. Parliament Golf Club secretary, Dr Peter Daniels, explained that the club was originally established before 1994 and was primarily for members of Parliament, as well as ministers and deputy ministers. “They were members at Milnerton Golf Club, where they played regularly. In 1994, Andrew Mlangeni continued the golf club’s legacy, and it was then opened to all parliamentary staff. Later, we extended our membership to include members of the provincial legislature and local government. “We are affiliated with the South African Golf Association and…

Nadine de Klerk may not have managed to get any gametime at the recent Women’s Premier League (WPL) in India, but believes her time spent with the championship-winning Mumbai Indians has benefitted her game a great deal. The Proteas Women's team allrounder worked tirelessly in the nets behind the scenes, especially on her options against the spin bowlers. De Klerk feels it will prove beneficial on the upcoming tour to Sri Lanka, where the Proteas will face the hosts and India in a tri-series next month, and also at the ICC World Cup in India later this year. However, the positive signs were already evident during De Klerk’s match-winning 74 off just 48 balls for Western Province in their final Hollywoodbets Pro20 League match against the Dolphins at Newlands on…

The Bulls may have edged out Leinster with a post-hooter David Kriel penalty, but Jake White knows that his team are far from the finished product heading into the business end of the season. There is a campaign-defining next month coming up, where the Bulls will have to juggle their resources across the United Rugby Championship and Challenge Cup. They are clearly prioritising the URC, judging from their selections and the importance of winning their ‘league’, as opposed to a virtual knock-out competition like the Challenge Cup. The Pretoria side are also virtually assured of Champions Cup rugby next season by finishing in the top eight, as they are currently third on the URC log with 45 points – one ahead of the Sharks, four behind Glasgow and 13 off…

The Department of Transport has roped in the Development Bank of Southern Africa (DBSA) and the National Treasury to shepherd the newly formed Public Sector Participation (PSP) Unit in preparation for private investment. Transport Minister Barbara Creecy revealed the plans to habilitate Transnet through the PSP as Request for Information (RFI) was announced during a media briefing on Sunday. Creecy said arrangements were at final stage for the DBSA and Treasury to be be hosting institutions for the unit, The unit will comprise a team with extensive expertise in structuring PSP contracts and procurement, which is expected to to enhance State capacity and provide support to Transnet and Passenger Rail Agency of SA (Prasa) in the procurement of potential PSP projects. Creecy said the RFI was in response to numerous…

Deputy Minister of Finance, David Masondo, called for innovative financing solutions like blended finance to address a global infrastructure funding shortfall, estimated at $1 trillion to $1.5trl (R27trl) annually, during opening remarks at the G20 Infrastructure Investors’ Dialogue held last Thursday. Held at the Freedom Park Museum in Pretoria, the event focused on scaling up sustainable infrastructure investment through public-private collaboration. The event drew representatives from local and international financial institutions, G20 members, and long-term investors, reflecting South Africa’s commitment to its 2025 G20 presidency theme of “Solidarity, Equality, and Sustainability.” "This event comes at a critical period where, the world faces several crises including climate change, poverty, inequality and geopolitical tensions, amongst other challenges. Moreover, it comes at a time where, more than ever before, the significance of private…

To the surprise of most economists and market analysts, the Monetary Policy Committee (MPC) of the SA Reserve Bank (SARB) did not lower the repo rate last Thursday. This came after the inflation rate for February remained at 3.2%, the same level as in January 2024 and the seventh consecutive month in a row that the inflation rate came in under the MPC midpoint level of 4.5%. Lesetja Kganyago, the governor of the SARB, at the press conference on Thursday, explained, “Moving to prices: while inflation is still in the bottom half of our target range, it has edged higher over the past few months.” This statement is a bit strange as it can be argued that the inflation rate remained at 3.2% during the first two months of this…

Spar is a household brand in South Africa, loved by many of us on our holidays as we pop down to the local Spar in the seaside resort over December. We marvel at the stock that the Spar store holds and some of the different items available in the Spar that you just don’t seem to get at your local Spar in Cape Town or Johannesburg. While we as consumers love the special food items that we find at the holiday Spar, are they really good for Spar, the listed entity? Spar is a distribution business that distributes stock from their distribution centres to the predominantly franchised Spar stores around the country. While Spar expects some level of loyalty from these franchisees in the form of the amount of goods…

Self-care is having a major moment right now and with good reason. Whether it’s a busy schedule or the pressures of everyday life, finding ways to recharge and nurture yourself is essential. But what if your self-care routine could be inspired by centuries of wisdom? West African wellness practices, rooted in culture and tradition, offer powerful and natural ways to care for your body, mind and soul. Ranyechi Udemezue, a passionate beauty writer, shared her transformative journey inspired by her grandmother Elizabeth, who was raised in Ghana. “Wellness is an integral part of the culture my grandma grew up with,” Udemezue reflects. These ancestral practices have become integral to her self-care routine, creating a rich tapestry of self-love and holistic health. 1. Raw shea butter If you’re looking for a…

The uMkhonto weSizwe Party (MKP) councillor who came out on top in the recent by-election has hit the ground running. Mzwandile Simon Biko expressed his eagerness to serve the community of Middelpos, Saldanha Bay. The MKP took more than 36% of votes in the by-election held on Tuesday and Wednesday; they received 1 197 votes, beating the African National Congress (ANC) by 338. The Patriotic Alliance (PA) received 654 votes. The newly formed People Movement for Change led by Marius Fransman, former ANC provincial leader, only received 12 votes. The by-election took place as a result of the death of ANC councillor Siyabulela Liwani. South African Communist Party Western Cape Provincial Secretary, Benson Ngqentsu, said the ANC’s loss in Saldanha Bay should be a wake-up call to ANC leaders…

OPPOSITION parties have questioned why the DA-led City continues to pour millions into reactive policing rather than focusing on prevention after mayco member for Safety and Security, JP Smith, boasted that Mayor Geordin Hill-Lewis would be tabling a draft budget with "the largest investment into the safety and security directorate since the establishment of LEAP (Law Enforcement Advancement Plan)”. The parties said despite costly initiatives year on year, crime levels remain persistently high, raising doubts about the effectiveness of the City's approach. Half of the ten police stations that recorded the most murders in South Africa were located in Cape Town, according to the second quarter 2024/2025 crime statistics. Smith posted on social media that: “Following the success of LEAP and Project 1000, the City is now ready to take…

Prudence Sekgodiso etched her name in the annals of South African athletics by becoming the first SA-born woman to clinch a gold medal in the 800m at the 2025 World Indoor Championships. The 23-year-old middle-distance star produced a masterclass in strategy and speed to secure the gold in a thrilling final in Nanjing, China. Sekgodiso became the second South African to win a medal at the Indoor Championships, following Akani Simbine's bronze in the men’s 60m. With the world watching, Sekgodiso capped off a masterful performance on the third and final day of the championships, finishing the race in an impressive time of 1:58.40 seconds. Her journey to victory was punctuated by an exceptional sprint in the last 200m, where she surged ahead of Ethiopia’s Nigist Getachew, who had been…

THE Two Oceans is not only ‘the world’s most beautiful marathon’ but also ‘Africa’s biggest event’ thanks to its massive contribution to the Western Cape’s revenue. This much was confirmed by a study from 2017, and the organisers of this year’s edition of the 56km ultra, its half-marathon, as well as the trail runs, plus the Cape Town International Friendship Run, believe that the impact will be even bigger. The Two Oceans Marathon organisers say they have record highs of international entries for this year’s races, taking place over the weekend of April 5 in the Mother City. The race will have an incredible 98 countries represented in the different events. Expectedly, South Africans will form the bulk of the participants, with 29 684 representatives. Neighbours Namibia and Zimbabwe will…