Índice para 2025-04-08 em Cape Times

Rand plunges to two-year low by 1.6% to R19.44 against the dollar, its lowest since May 2023 The fallout from escalating US import tariffs reverberated across global markets on Monday as fears of trade tensions between the United States and China grew, with South Africa's economy bearing the brunt of the turmoil exacerbated by domestic political uncertainty. The rand plunged to a near two-year low by 1.6% to R19.44 against the US dollar during early trade on Monday, its lowest level since 26 May 2023 when it hit R19.65/$1, worsened by the uncertainty over the future of the Government of National Unity (GNU). Financial markets remained on edge on Monday over the outcome of the ANC National Working Committee, which met to decide on the constitution of the GNU, after…

Cryptocurrencies wiped out almost all their gains since Donald Trump’s election win in early November as fallout from the US president’s tariff onslaught sparked heavy selling in an asset class he’s vowed to champion. Bitcoin briefly tumbled below $75 000 (R1.4 million) on Monday for the first time since November 7, dropping as much as 5.3% before recovering slightly. Smaller tokens remained subdued, however, with XRP, Solana and Cardano all trading down between 5% and 10% as of 8.57 am in New York. Ether traded at its lowest since March 2023. The total market capitalisation of all cryptocurrencies fell about 11% to $2.5 trillion, roughly where it stood when Trump sealed his victory, according to CoinGecko data. The slide comes as Trump dug in on sweeping tariffs that have already…

The Agricultural Business Chamber of South Africa (Agbiz) has urged the nation to diversify its export markets in response to the trade turbulence generated by US President Donald Trump's announcement of potential tariffs that may exceed 10% on South African exports. Agbiz's chief economist, Wandile Sihlobo, on Monday emphasised the importance of remaining neutral and actively seeking new business opportunities, particularly in the Middle East, which he identified as a market ripe for expansion. Despite a commendable record in agricultural exports—reaching an impressive $13.7 billion (R286bn) in 2024, up 3% from the previous year—Sihlobo cautioned that South Africa cannot afford to become complacent. With nearly half of its agricultural exports absorbed by the African continent and substantial markets in the European Union, Middle East, Asia, and the UK, there remains…

When you are in need there’s a temptation to express gratitude without questioning. Any form of clarity seeking exercise is often associated with being ungrateful. This is clearly visible when one looks at the digital divide challenge in South Africa. It was once fashionable for businesses to donate computers without the necessary support and gifting of computers that were approaching their end of life cycle. Those that accept such gifts sit with the burden of storage or even keeping hardware that is hardly functioning. We are now beginning to see a similar trend in the process enabling access to internet. The connectivity challenge in townships has attracted solution providers who are offering mixed blessings. On the one hand they are providing useful tools that are enabling access to information and…

Transnet National Ports Authority (TNPA) on Monday issued a Request for Proposals (RFP) for the appointment of a Liquid Bulk Terminal Operator for the handling of edible oils and compatible cargo at the Port of Cape Town. The terminal site is a brownfield development covering approximately 6,289 m², within the Liquid Bulk Precinct at the Port of Cape Town. The terminal facilitates the delivery and dispatch of products via vessels and road tankers with access to common-user berths in the Tanker Basin. The primary cargo handled at the terminal includes high-flash products, such as molasses and vegetable oils. "The RFP intends to select a terminal operator that will finance, refurbish, and/or construct, operate, maintain, and transfer a Liquid Bulk Terminal to handle edible oils and other compatible…

Nearly half of tourism businesses in South Africa are expecting improved performance in the next 12 months despite economic and operational difficulties. These are the findings of the latest Tourism Business Pulse Report released by the Tourism Business Council of South Africa (TBCSA) on Monday, revealing a resilient yet challenged tourism industry. The report assessed business conditions from July 2023 to June 2024 and found that 47% of businesses expect improved performance in the next 12 months. TBCSA - the umbrella organisation representing the unified voice of business in the hospitality, travel, and tourism sector - said that while the past year saw marginally above-normal performance, structural constraints continue to hamper the sector’s full recovery. The sector experienced mixed results, 34% of businesses had a strong year, while 30% struggled…

When watching baking shows, one is often left wondering how the contestants started their baking journey. While they make it look so easy, you need to know exactly what you’re doing. Unlike cooking up a pot of stew, where you can simply throw things together, baking is more of an exact science. Whether you want to bake cookies, cakes or bread, starting with the right approach can make all the difference. Here are some tips to help beginners get started on their baking journey. Start with simple recipes As a beginner, it’s best to start with easy recipes. Choose recipes that require minimal ingredients and steps, such as chocolate chip cookies, banana bread, or muffins. As you gain confidence, you can move on to more complex bakes. Read the recipe…

The awaited sanction on FlySafair for contravention of the foreign ownership regulations after findings by the International Air Services Licencing Council (IASLC) is up in the air. This comes after the Department of Transport (DoT) changed the members of the IASLC and the Air Services Licencing Council (ASLC) at the expiry of their terms last month without allowing for a handover and delivery of overdue decisions. The ASLC is a statutory body responsible for awarding or revoking traffic rights to airlines based in South Africa subject to operational, safety, and liability requirements. Both the IASLC and ASLC have ruled that FlySafair's shareholding structure failed to meet the requirement that 75% of voting rights be held by South African citizens who are also residents of the country. This led to the…

WASHINGTON: President Donald Trump remained defiant yesterday as global markets continued plunging after his tariff announcement last week. He said other countries had been “taking advantage of the Good ol' USA!” in a post on Truth Social, his social media platform. “Our past ‘leaders’ are to blame for allowing this, and so much else, to happen to our Country,” Trump wrote. “MAKE AMERICA GREAT AGAIN!” “If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th,” he wrote on Truth Social. “Additionally, all talks with China concerning their requested meetings with us will be terminated!” Trump has insisted his tariffs are necessary to rebalance global trade and…

AS the investigation into the rape of seven-year-old Cwecwe continues, some organisations are planning a national shutdown over the police ministry's handling of the case. This comes after Police minister Senzo Mchunu announced that DNA tests were conducted on samples retrieved from the victim and no foreign DNA was found. "DNA testing was done on the victim as per procedure and the outcome was that no foreign DNA had been found. Three persons of interest have since emerged and further DNA testing is under way," Mchunu said. This caused an outcry on social media after earlier statements which the public believed implied the principal of Bergview College, an independent school in the Eastern Cape, was a person of interest. At the time, Mchunu said three individuals, including the school principal,…

Proactive groundwork should soften the blow The hostile disposition of the United States’ (US) President Donald Trump towards South Africa raises serious concerns about the possible exclusion of South Africa as a beneficiary of the African Growth and Opportunity Act (AGOA) which is set for renewal in 2025. With South Africa consistently ranking as the top AGOA user, as well as the number one African agricultural exporter under AGOA, we look at the possible ramifications for agriculture. A law implemented in 2000 by the US, AGOA, establishes a unilateral trade preference programme, allowing certain exports from South Africa and many other eligible sub-Saharan African countries to enter the US market, duty-free. Under AGOA, two-thirds of South Africa’s agricultural exports to the US benefit from tariff-free treatment. Since its inception, South…

In a massive diplomatic push, economic advisors of US President Donald Trump, have said that 50 countries have come forward to negotiate for better tariffs from the country. This comes after Trump announced sweeping tariffs across the board last week that brought the global economy to its knees, with markets crashing to lows that had economists and analysts alike, fearing for a global recession. Countries are keen on restructuring these financial barriers to foster co-operative trade relationships that could bolster their economies while alleviating the strains of recent trade disputes. These tariffs have not only altered the landscape of international commerce but have also triggered retaliatory measures from some nations, further complicating global trade relations. With inflation rates and economic recoveries at the forefront of global policies, the need for…

Last week saw South Africa’s Parliament approve a phased increase in VAT, sparking debates about its impact on the economy. Meanwhile, the ongoing trade conflict with the US intensified as President Trump imposed new tariffs, leading to fears of a global economic slowdown. Trump’s sweeping tariffs have ignited trade wars, causing market turmoil and uncertainty. As Peter Drucker once noted, “The best way to predict the future is to create it,” and South Africa must navigate these turbulent waters with resilience and strategic foresight. I was encouraged to see a statement by ministers Ronald Lamola and Parks Tau largely agree that the best way forward is to work hard to improve relations with the US but also enhance the focus both on stimulating domestic growth and improving our trade relations…

Standard Bank concluded its third annual UniHack Competition on April 3, showcasing innovative student-led tech solutions to tackle South African challenges in education, mental health, and disability support. The two-day event in Cape Town saw 13 university teams compete, leveraging artificial intelligence and machine learning to address pressing societal issues, Standard Bank said in a statement on Monday. Gerald Perumal, Standard Bank’s technology head of Strategy Enablement, said, “The UniHack Competition has once again highlighted the exceptional talent and innovative spirit of our young participants. Their ability to adapt and design applications to solve challenging problems in these areas is truly inspiring.” The winning team, High Five, took first place with “Handy,” an app that translates sign language into text in real-time to aid communication for the hearing-impaired. Comprising students…

“I’m sorry, but I think you’re aware your voice talent job is going to disappear.” I won’t lie, when African creative industries expert Marie Lora-Mungai delivered this blunt assessment during our recent African Tech Roundup Podcast conversation, I felt gut-punched. Our exchange came in the wake of a LinkedIn post Lora-Mungai put out a week ago issuing a stark message to African filmmakers about AI disruption—one that struck uncomfortably close to home. “While you’re spending hours in the edit suite, writing grant applications, or attending festivals, AI has already rewritten the script for the entire industry,” she warned. The post went viral, precisely because it articulated what many creatives fear but few appear willing to confront. Senegalese filmmaker Hussein Dembel Sow’s response crystallised the paradox facing African creatives: “Across the…

MTN Group has announced a groundbreaking partnership with Synamedia, a leading video software provider, to develop a new streaming platform tailored for mobile and fixed broadband subscribers across Africa. This collaboration aims to enhance digital content accessibility and provide a diverse range of viewing options to meet the evolving preferences of audiences throughout the continent. By harnessing Synamedia's advanced cloud-based technologies, the new platform will provide a robust offering of linear television and video-on-demand content. This strategic move aims to not only satisfy the diverse viewing habits of consumers but also facilitate digital inclusion across the region. MTN's innovative platform will feature multiple monetisation models, catering to different market segments. Subscribers can look forward to options that include affordable subscription plans, ad-supported content, and free streaming channels powered by targeted…

If you’ve scrolled through social media lately, you’ve probably seen people talking about “Ozempic face”, a new buzzword that has celebs and influencers in a frenzy. From Hollywood A-listers to everyday people using Ozempic (semaglutide) for weight loss, the side effect has left many wondering: Is achieving a slimmer body worth the cost of a gaunt, sagging face? Reality TV star Scott Disick was one of the latest celebrities to spark rumors of Ozempic use after fans noticed his noticeably slimmer frame and thinner face. But he’s not alone. John Goodman, Sharon Osbourne, and countless others have also been linked to the medication, leading to visible changes in their facial structure. But what exactly is Ozempic face, why does it happen, and most importantly, how can you prevent it while…

The Western Cape High Court heard that it was Steveno van Rhyn who first mentioned the woman allegedly involved in the sale of missing six-year-old Joshlin Smith. This was shared in the evidence in chief of detective Sergeant Dawid Johannes Fortuin, who led the interviews on March 4, 2024. The officer said he sat down with Jacquen ‘Boeta’ Appollis and Van Rhyn on that evening when van Rhyn revealed that a woman named Maka Lima (Lima’s mom) knew what happened to Joshlin. He said that he confirmed with Appollis, and he told him the same thing. Central to the trial is a "trial within a trial", currently sitting at the White City Multipurpose Centre in Diazville, Saldanha Bay, focused on the admissibility of confessions made by the accused, Appollis and…

Is Ruben Amorim’s project at Manchester United in danger of imploding after another tepid display in the derby? While many of his backers feel it’s too early into his reign to start looking elsewhere, patience seems to be wearing thin. The stick currently being used to beat the Portuguese manager with is United’s poor form in front of goal. They are apparently in the company of relegation-threatened Leicester on that front since Amorim’s arrival. Striking out Many have pointed to the form of club castaways like Marcus Rashford and Antony elsewhere as a sign of Amorim’s failings. Comparisons with the likes of Joshua Zirkzee and Rasmus Hojland were inevitable. They have done nothing to dispel the notion that they are way out of their depth at a club that was…

The African Union said on Monday that US tariffs imposed on countries across the continent threatened decades of "mutually beneficial trade and cooperation". AU Commission chairman Mahamoud Ali Youssouf expressed deep concern over the tariffs and urged the US government to reconsider, an AU spokesman said. Youssouf "calls on the US to strengthen, rather than strain, the longstanding partnership rooted in shared values and mutual aspirations," said spokesperson Nuur Mohamud Sheek. Some African countries have been hit harder by tariffs - ranging from 50% for the small African kingdom of Lesotho, a major textile exporter, to 30% and above for South Africa, Madagascar and Botswana. About 30 sub-Saharan African countries benefit from duty-free access to the US market through the African Growth and Opportunity Act (Agoa), an agreement whose future…

The hostile disposition of the US’ President Donald Trump towards South Africa raises serious concerns about the possible exclusion of South Africa as a beneficiary of the African Growth and Opportunity Act (Agoa), which is set for renewal in 2025. With South Africa consistently ranking as the top Agoa user, as well as the number one African agricultural exporter under Agoa, we look at the possible ramifications for agriculture. A law implemented in 2000 by the US, Agoa, establishes a unilateral trade preference programme, allowing certain exports from South Africa and many other eligible sub-Saharan African countries to enter the US market, duty-free. Under Agoa, two-thirds of South Africa’s agricultural exports to the US benefit from tariff-free treatment. Since its inception, South Africa has exported over $7 billion (R25bn) worth…

In 2008, scriptwriter Ed Bennett-Coles said he experienced a career "death moment": he read an article about AI managing to write its first screenplay. Nearly two decades later, he and friend Jamie Hartman, a songwriter, have developed a blockchain-based application they hope will empower writers, artists and others to own and protect their work. "AI is coming in, swooping in and taking so many people's jobs," Hartman said. Their app, he said, responds "no... this is our work." "This is human, and we decide what it's worth, because we own it." The ever-growing threat of AI looms over intellectual property and livelihoods across creative industries. Their app, ARK, aims to log ownership of ideas and work from initial brainchild to finished product: one could register a song demo, for example,…

The Overberg Wind Farm project has achieved financial close with leading renewable energy independent power producer, Red Rocket. This landmark initiative is poised to play a crucial role in South Africa's ongoing transition towards clean energy, heralding a new era in renewable resource development. When fully operational, the Overberg Wind Farm will stand as South Africa's largest privately developed wind farm, promising a total export capacity of 380 megawatts (MW). The first phase of the project will secure a substantial 230MW through a long-term Power Purchase Agreement (PPA) with Richards Bay Minerals (RBM), a subsidiary of the Rio Tinto Group. This collaboration is predicted to deliver around 750 gigawatt-hours (GWh) of clean energy annually, marking a significant reduction in RBM's carbon footprint by approximately 30%, equating to a reduction of…

Sirius Real Estate, leading owner and operator of branded business and industrial parks in the UK and Germany, has reported a 12.8% increase in rent roll for the year to March 31, 225. This increase was driven by strong organic growth, ongoing asset acquisitions, and robust demand for space at its business parks, a trading statement released Monday showed. The share price fell 3.05% to R20.05 on the JSE Monday morning, still well up from R17.10 three months ago, but below the R22.72 of a year ago. "Our focus on growth, asset management, and demonstrating the value Sirius' platform can bring to our occupiers allowed us to deliver a strong performance, with momentum building strongly as we finished the year,” said CEO Andrew Coombs. On a like-for-like basis, rent roll…

If there’s one mineral that never seems to fall out of fashion in the world of wellness, it’s magnesium. From the early days of natural health remedies to today’s TikTok-fuelled supplement culture, magnesium has always held a reputation as the go-to “chill pill”. Dubbed the “anti-stress mineral”, it continues to dominate conversations on social media and among celebrities who swear by its calming benefits. Whether it’s for better sleep, reduced anxiety, or simply managing everyday tension, magnesium isn’t just another passing health trend – it’s a long-standing essential that’s only growing in popularity as more people look for natural ways to take care of their mental and physical well-being. But is it just another health trend, or does magnesium truly deserve its newfound fame? The growing obsession with supplements is…

THE SACP and Gauteng Premier Panyaza Lesufi have once again called for the government to establish an inquest into the death of former SACP leader, Chris Hani, who died on the eve of democracy on April 10, 1993. Ahead of Hani's 32-year commemorative event set for Cofivamba in the Eastern Cape later this week, the Struggle hero's widow, Limpho Hani and members of the SACP led a wreath-laying ceremony at the South Park Cemetery in Boksburg yesterday. During her address to the media, Limpho Hani slammed the country’s justice system for having granted an “unremorseful”, Janusz Walus parole last year. Last December, the South African government confirmed through minister in the Presidency Khumbudzo Ntshavheni that Walus, convicted for the 1993 assassination of the former SACP Secretary-General, would be deported to…

ACTIONSA, the kingmakers in last week’s key budget vote, has not ruled out the possibility of joining the Government of National Unity (GNU) as the collapse of the current coalition government appears imminent. The Herman Mashaba-led ActionSA helped save the day for the ANC when its coalition partners the DA and Freedom Front Plus deserted it over their rejection of the budget in its current form. The budget proposes a 0.5% VAT increase over two years, a move the DA has opposed, saying it would not support a budget that seeks to punish the poor. It was however prepared to support it, unless the ANC gave in to its demands including the running of the ports and reversing recently enacted laws, such as Bela and the Expropriation Act. Deputy president…

Liverpool boss Arne Slot has leapt to the defence of skipper Virgil van Dijk and the rest of the backline after they faced criticism for their first-half display in the weekend’s 3-2 loss away at Fulham. The defensive lapses resulted in the end of the runaway log leaders’ 26-game unbeaten league run. They are still firm favourites to lift the title, however, sitting on 73 points, 11 clear of second-placed Arsenal with seven matches to go. Liverpool had briefly led at Craven Cottage before errors from Curtis Jones, Andrew Robertson and Van Dijk proved costly. Dutchman Van Dijk was largely to blame for Fulham’s third goal of a devastating first-half blitz after misjudging a high ball and allowing the powerful Rodrigo Muniz a clear run on goal before firing home.…

Southampton have sacked manager Ivan Juric following their relegation from the Premier League, the club announced Monday. Southampton were condemned to relegation in record time after a 3-1 defeat at Tottenham on Sunday. Juric’s bottom of the table side have lost 25 of their 31 top-flight games in a wretched campaign. Relegation with seven fixtures left gives Southampton, last season’s Championship play-off winners, an unwanted Premier League record, surpassing Derby and Huddersfield’s relegations with six games left in 2008 and 2019 respectively. Juric took over from Russell Martin in December, with Southampton already deep in trouble, but the 49-year-old won only one league match, at Ipswich in February. Saints have lost seven of their past eight league matches. Simon Rusk will take charge of the team as interim manager for…