Índice para 2025-06-05 em Cape Times

Despite issues faced in Africa, there is potential to attract investment from all regions, says Le Pallec S&P Global Ratings has said that the outlook for the country remains positive, during its South Africa Capital Markets Conference in Johannesburg on Wednesday. S&P global experts and industry leaders, engaged in dynamic panel discussions during the conference. Yann Le Pallec, President of S&P Global Ratings, highlighted Africa's potential for growth, particularly in sub-Saharan regions. He projected that the region's real GDP is expected to increase by 4% over the next two years, outperforming advanced economies that are anticipated to grow by a mere 1.5%. "Despite issues faced in African economies, there is potential to attract investment from all regions,” Le Pallec said, emphasising the continent's pivotal role in the global energy transition.…

Amazon South Africa on Wednesday unveiled a major expansion of its product offerings, introducing three new Everyday Essentials categories: Groceries, Pet Food, and Vitamins and Supplements. The move brings thousands of non-perishable food items, pet products, and health supplements to its customers nationwide, with free delivery on Amazon-shipped products. It said the launch addresses high-demand categories since Amazon's entry into South Africa, featuring international brands like Nestlé, Red Bull, and Starbucks alongside local favourites such as Beacon, Simba, and Koo. “We’re thrilled to bring these extensive new categories to our South African customers,” said Robert Koen, Amazon’s managing director for Sub-Saharan Africa. “Groceries, pet supplies, and health supplements have been top customer requests. This expansion underscores our commitment to becoming a one-stop shopping destination with convenience, competitive pricing, and reliable…

South Africa has just nine months to address critical infrastructure, policy, and pricing developments to avert a looming gas cliff, according to discussions between government energy departments, intensive industrial users, and Parliament’s Portfolio Committee on Electricity and Energy. Industry stakeholders said the country must finalise a fiscal framework, develop a gas-aggregation platform, and conclude transactions to facilitate investment decisions for LNG importation infrastructure by 2030. Minister of Petroleum and Natural Resources Gwede Mantashe noted that the debate surrounding the gas cliff remains fragmented and lacks a cohesive strategy. He pointed to ongoing impediments to the gas sector’s development, which have led to a reliance on imported gas rather than utilising South Africa’s own resources. “The court has directed the Central Energy Fund (CEF) to issue regulations to lift the moratorium…

Venture capital (VC) across South Africa and the broader African continent is entering a period of cautious recovery and renewed opportunity, after two years of contraction and recalibration. After a turbulent period in 2022 and 2023, 2024 was a year of recalibration. Now in 2025, we're seeing signs of resilience and reawakening across African venture capital. The key differentiator has been quality, due to founders who are building real businesses with disciplined capital use, strong unit economics, and scalable platforms. Following a 46% drop in African VC funding in 2023, 2024 showed early signs of stabilisation. According to internal valuation memos from Endeavor’s Harvest Fund II, African equity funding declined just 2% year-on-year in 2024, totalling $2 billion (R36bn). This suggests the market may be bottoming out. Quarter four 2024…

The RMB/BER Business Confidence Index (BCI) fell by five points to 40 in the second quarter of 2025, reflecting pessimism about trading conditions amid a loss of economic momentum in South Africa . The decline follows a stalled recovery from the first half of 2024, with only 40% of respondents in cyclically sensitive sectors expressing satisfaction with business conditions. The data comes a day after Statistics SA said South Africa's gross domestic product increased by 0.1% in the first quarter of 2025, down from the increase of 0.4% in the fourth quarter of 2024. The survey, conducted from May 7 to May 26, 2025, highlighted global trade uncertainties, strained US-South Africa diplomatic relations, and local logistical challenges as key drags on sentiment. "The majority of the respondents are thus…

Police have reported an increase in the number of cases that they are linked to the syndicate responsible for the death of the former Wits University student, Olorato Mongale - three more have been added to the 22 reported last week. Last week, the number of cases being investigated by the police stood at 22 cases with SAPS spokesperson, Brigadier Athlenda Mathe indicating that the number has increased to 25. “We are now standing at 25 cases linked to the syndicate,” Mathe said without going into details about the latest developments in the matter. Police said they are closing in on Bongani Mthimkulu, the remaining suspect of an alleged kidnapping syndicate that targeted young women at shopping malls in several provinces. The main suspect, Philangenkosi Makhanya, was killed during a…

A NEW Covid-19 variant, NB.1.8.1, has become the dominant strain in China and is beginning to surface internationally, prompting public health experts and global agencies to issue fresh warnings and vaccine guidance. The NB.1.8.1 is a descendant of the Omicron lineage and was first identified in April in travellers from China and several other countries, including France, Japan, South Korea, and Thailand, according to data from GISAID. It is now fueling a surge in hospitalisations and emergency visits in China. The US Centers for Disease Control and Prevention (CDC) confirmed the variant was detected through random airport testing of travellers arriving in the United States since late March, with cases now reported in California, Hawaii, New York, Ohio, Rhode Island, Virginia, and Washington. The World Health Organization (WHO) has officially…

A pothole in the North West Province will cost the MEC of the Department of Public Works, Roads and Transport more than R26.6 million after a motorist was involved in an accident when she drove through the pothole, which left her a paraplegic. The North West High Court, sitting in Mahikeng, ordered the department about three months ago to pay this amount to the plaintiff, only identified as Beauty. However, the department has to date not yet paid up. Her attorney, Righardt Bezuidenhout, said the department promised that it would pay by Wednesday. However, by the time of publication, she had not yet been paid. Bezuidenhout had obtained an order to attach the assets of the provincial department, to sell at auction in a bid to receive payment. The department,…

An inspired Lois Boisson delighted Roland Garros as the French world No 361 downed Mirra Andreeva on Wednesday to set up a French Open semi-final against Coco Gauff. Boisson, making her debut at a Grand Slam event, powered her way to a thrilling 7-6 (8/6), 6-3 victory on a raucous Court Philippe Chatrier to become the first Frenchwoman to reach the semi-finals since Marion Bartoli in 2011. The 22-year-old, who was due to play at last year's French Open but suffered a knee injury the week before the tournament, is the lowest-ranked woman to reach a major semi-final in 40 years. “It was incredible to play in front of this crowd and feel support like that,” said Boisson, after hitting 24 winners past Russian sixth seed Andreeva to follow up…

South African players continue to dominate this season’s United Rugby Championship (URC) awards with no less than seven named in the URC Team of the Season on Wednesday. Bulls No 8 Cameron Hanekom, also named as Next-Gen Player of the Season, alongside teammates props Wilco Louw and Jan-Hendrik Wessels, Stormers’ flyhalf Sacha Feinberg-Mngomezulu, and the Sharks’ Andre Esterhuizen made it into the Elite XV of the tournament. The Bulls, playing in a consecutive semi-final on Saturday, and Munster lead the race with three players each in the side, while Leinster and the Scarlets follow with two. Double World Cup-winning Springbok, RG Snyman, is one of the Leinster players, and Bok hopeful, hooker Marnus van der Merwe, represents the Scarlets. Hanekom, nominated for the SA URC Player of the Season award…

McDonald’s South Africa has announced the appointment of Max Oliva as its new CEO, effective July 1, 2025. The news comes three months after Greg Solomon, has mutually parted ways with the fast food giant after 15 years at the helm and McDonald’s South Africa at the time said it was looking for a new CEO. McDonald’s South Africa said in a statement on Wednesday, "Oliva brings more than three decades of executive experience in retail and supply chain management, with a strong track record of delivering operational excellence, building high-performing teams, and driving sustainable growth. “He was selected following a rigorous executive search process aimed at identifying a leader with the vision, discipline, and commercial acumen to guide the business into its next phase of transformation." It said…

The Association of Meat Importers and Exporters (AMIE) has urged the Department of Agriculture, Land Reform and Rural Development to immediately resume poultry imports from countries that have declared themselves free of Avian Influenza, in line with World Organisation for Animal Health guidelines. These countries include France (February 4, 2025), Sweden (March 31, 2025), and both Denmark and Belgium (May 23, 2025). The last recorded imports from Denmark were in 2020, when South Africa imported an average of 1 384 metric tons of poultry products per month, including both poultry cuts and mechanically deboned meat (MDM). AMIE on Wednesday also welcomed the Department of Agriculture’s commitment to make a determination on a partial lifting of the Brazilian import suspension by the end of this week. This would be based…

Upcoming events that will influence South Africa’s position in a rapidly reshaping global order, and the effect of this reconfiguration on small medium enterprises (SMEs): Budget treads tricky course without cutting expenditure The national budget outlined a programme of continued expenditure propped up by less contentious funding mechanisms than previously tabled. VAT will remain at 15%, providing certainty for SME pricing and cash flow planning after the proposed increase was dropped. In order to make up the shortfall, the general fuel levy will increase by 16 cents per litre for petrol, and by 15c per litre for diesel starting June 4, and the Minister suggested that tax compliance would be a continued area of focus. The fuel levy increases will compound existing cost pressures for SMEs, particularly those in…

Santam, South Africa’s leading short-term insurer, has unveiled a strategic rebranding initiative to consolidate its specialist business units under a single brand, Santam Specialist Solutions (SSS), to streamline operations and strengthen its market presence across Africa, India, Southeast Asia, and other emerging markets. Gareth Beaver, the CEO of Santam Specialist Solutions, described the move as a natural evolution for a portfolio that has grown significantly over time. “Each of these sub-brands has earned a reputation for technical expertise and client insight. Their success stems from a strong partnership with Santam, whose financial stability and national reach have been critical, especially during crises,” Beaver said. The rebranding, effective in quarter four 2025, will unify five specialist units: Emerald Risk Transfer, Mirabilis Engineering Specialists, SHA Risk Specialists, Travel Insurance Consultants, and Vulindlela…

Ninety One’s share price was one of the biggest movers on the JSE Wednesday after it announced an increase in global assets under management by 4% to £130.8 billion (R3.15 trillion) in the year to March 31, buoyed by a stronger second half performance. Full year net outflows for the JSE- and London-listed group that was spun off Investec in 2020 came to £4.9bn, following first half net outflows of £5.3bn and net inflows of £0.4bn in the second half. The share price gained up to 6.7% on the JSE to R41.54 on Wednesday, bringing the year-to-date gain to over 13%. “Ninety One regained positive flow momentum in the second half. Business conditions improved in the final quarter,” founder and CEO Hendrik du Toit said at the release of the…

The Black Business Council (BBC) has sharply criticised the awarding of a multi-billion-rand battery storage contract to Mulilo Energy, a company chaired by former Eskom Chief Operating Officer Jan Oberholzer. Oberholzer served as Eskom’s COO from 2018 until July 2023, a period marked by significant challenges for the utility, including aging infrastructure, financial difficulties, and worsening load-shedding. The battery storage program, launched in March 2024, aims to bolster the country’s electricity grid by storing excess solar power generated during the day and releasing it during peak demand in the mornings and evenings. At a recent press briefing, Minister of Electricity and Energy Kgosientso Ramokgopa confirmed that Mulilo Energy, alongside Norwegian firm Scatec, has been selected as the preferred bidder for the project. However, the BBC has raised serious concerns about…

IN JUST over a year, more than 700 children were admitted to hospital for gunshot wounds while over 3800 were hospitalised for stabbings in the province. As Child Protection Week draws to a close, activists highlighted that little progress has been made to ensure children are not subjected to abuse and violence. Meanwhile, children as young as 12 were also being sucked into the deadly vortex of gang violence used as decoys, gunmen, and drug couriers according to the latest Western Cape Gang Monitor by the Global Initiative Against Transnational Organised Crime (GI-TOC). The report also found that more than one child was murdered every day in the Western Cape over a three-month period in 2024. The spike is linked directly to gang violence, where children are either caught in…

Skills development and an inclusive and youth-oriented economy were some of the big talking points at the launch of this year's Youth Month programme in Soweto. The Minister in the Presidency responsible for women, youth and people with disabilities, Sindisiwe Chikunga, her deputy, Mmapaseka “Steve” Letsike, and City of Joburg Mayor, Dada Morero, led a multi-pronged programme to kick-off Youth Month during a ceremony held at the Hector Peterson Memorial and Uncle Tom's Hall in Orlando West, Soweto. Reflecting on the historical significance of the uprisings, renowned activist Seth Mazibuko, who is one of the few remaining faces of the uprising, announced plans from his foundation to commemorate the pivotal moment in South Africa's Struggle for freedom. Activities will include a significant march involving eight schools that participated in…

OVER 2600 detainees have been granted bail of less than R1000 but cannot afford this amount. They are regarded as prisoners of poverty. These were some of the findings when the Portfolio Committee on Correctional Services conducted visits to correctional facilities in South Africa, following concerns about overcrowding. They found that some families do not want to pay bail for some juvenile offenders because of the mischief they would cause in the community, and they believe that they would be better off in detention centres awaiting trial. The committee was also reacting to the Judicial Inspectorate for Correctional Services (JICS) progress report on the proposed Bail Fund for prisoners of poverty. On Tuesday, the JICS explained to the committee that the fund is a resource outside state institutions to advance…

It is safe to say that South Africa ticked their boxes on Day Two at the Arundel Castle Cricket Ground on Wednesday, with captain Temba Bavuma, Ryan Rickelton and Tristan Stubbs showing promising signs ahead of next week’s World Test Championship final against Australia at Lord’s. Having lost the opening day of the warm-up match against Zimbabwe to rain on Tuesday, South Africa won the toss on Wednesday and sent Aiden Markram and Ryan Rickelton in to open the batting. Batting first was always in the plans of coach Shukri Conrad, who emphasised after the rained-out opening day that the priority was to give the batters time in the middle while allowing the bowlers to rest. Markram lasted only 5.3 overs, facing 15 deliveries before he was undone by Alex…

Critically needed economic growth in Africa is being held back by high borrowing costs imposed by international lenders, with unpredictable US policy changes adding to the strain, the head of the G20 panel on the continent said. Seasoned politician and anti-apartheid activist Trevor Manuel chairs the panel of experts working on proposals to address issues affecting Africa, including high debt, to be presented at a summit of the Group of 20 leading economies in November. African nations are not necessarily more indebted than major economies but they face higher debt servicing costs, Manuel told AFP in an interview. The "unbelievably expensive and prohibitive" cost of capital for African nations has hobbled their development, said Manuel, who served as finance minister in post-apartheid South Africa for more than a decade. "We…

Experts say that a slight decrease in petrol price will create some breathing room for consumers. This follows the Minister of Mineral and Petroleum Resources Gwede Mantashe announcing on Wednesday a 5 cents per litre decrease on both grades of petrol and 36.90 cents per litre decrease on both grades of diesel. Waldo Krugell, an economics professor at the North-West University (NWU), said that consumers are lucky that the slightly stronger rand–dollar exchange rate and stable crude oil price have absorbed the impact of the increase in the fuel levy that came into effect today. “It is not quite relief, but the fact that the price is not going up adds to the little bit of breathing room in household budgets. Last week's repo rate cut will also help.…

Grab your flying drone with the eye of an eagle and a robust pair of Shosholoza gumboots, because South Africa’s micro, small, and medium enterprises (MSMEs) are once again marching through the African financial jungle in search of the elusive Goose that lays legendary Kruger Rands. Having wrapped up May with a modest 0.25% reduction in repo rates from our responsible uncle, the Reserve Bank, Governor Lesetja “Data Dependent” Kganyago, we also acknowledge the release of the Finfind South African MSME Access to Finance Report 2025, where MSME data meets the risk profile drama and access to funding proves elusive. According to the report, over 70% of MSMEs in South Africa earning revenue below R1 million per annum are still struggling to secure formal finance. Yes, you read that right;…

The SPAR Group, which is divesting of some of its businesses in Europe, plans to grow in Southern Africa by enhancing its retail segments, leveraging partnerships with Uber Eats and Vida e Caffè, and increasing private label product penetration. The retailer outlined its strategy for Southern Africa at the release on Wednesday of its interim results for the 26 weeks to March 28, which showed headline earnings a share falling by 0.4% to 450.1 cents. Revenue was flat at R66.1 billion (R66.2bn). Operating profit before extraordinary items grew by 1.6% to R1.46bn. South African operating profit increased by 5.5%, with the operating margin improving to 2%, up from 1.9%. The interim dividend was passed due to the ongoing restructuring and in line with capital allocation priorities, directors said. Following a…

City of Joburg Speaker, Nobuhle Mthembu and Executive Strategic Advisor to the MMC for Public Safety, David Tembe, visited the family of 14-year-old Likhona Fose, who was brutally murdered in Durban Deep, Roodepoort. Following the harrowing murder of 30-year-old Olorato Mongale, Joburg residents woke up on Sunday to news that Likhona’s lifeless body was discovered by a passer-by in the veld in Durban Deep, on the West Rand, with her genitals removed. Reports indicate that the family suspects hate crime to be the motive in the murder of the Grade 8 pupil, who identified as a lesbian. Tembe, who was greeted to protesting community members and anti-GBV activists, extended his condolences to the bereaved family, stating: "Her tragic and brutal killing, suspected to be linked to occult practices, has shaken…

Minister of Finance, Enoch Godongwana’s 2025 National Budget has finally been approved following the adoption of the fiscal framework that is the backbone of the budget. This was Godongwana’s third attempt to get the National Budget passed after an outcry over two proposals to increase VAT. During a joint meeting with Standing Committee on Finance, and the Select Committee on Finance, Members of Parliament adopted the document that establishes economic policy and revenue projections and sets the overall limits for government spending. The process, which took three hours on Wednesday, was not without its issues, with some members arguing that the process was flawed and that not everyone was able to make their voice heard. Insults also flew, with one member saying that her peers should “learn to read”. In…

Collins Letsoalo, the CEO of the Road Accident Fund (RAF), has now been placed on precautionary suspension with full pay. It was reported last week that the RAF board had placed Letsoalo on special leave amid a Special Investigating Unit (SIU) probe into alleged corruption and maladministration. However this week, the RAF board decided to withdraw his placement on special leave, place him on precautionary suspension and subject him to an inquiry. In a letter sent to him yesterday by Zanele Francois, chairperson of the RAF Board, she said the Board has a prima facie view that he defied its authority by refusing to attend the Standing Committee on Public Accounts (SCOPA) meeting in Parliament scheduled for May 28. Francois said in the letter to Letsoalo that the refusal to…

TRIBUTES poured in following the death of acclaimed photographer and jazz visionary Rashid Lombard at the age of 74. He died yesterday, surrounded by his loved ones. The Cape Town International Jazz Festival (CTIJF) was the brainchild of Lombard, who was also a recipient of the Order of Ikhamanga in Silver “for his excellent contribution to arts and culture and his dedication to promoting jazz music that has put South Africa on the map for many jazz enthusiasts around the world.” He was a freelance photographer and television sound recordist during the height of the anti-apartheid struggle. Lombard's lens captured the unrest and hope of a nation in transition for international media outlets including Agence France-Presse, the BBC, and NBC. Over the course of his career, he documented pivotal…

Not so long ago, coach Shukri Conrad found himself with a weakened bowling attack, with Gerald Coetzee and Nandre Burger out through injury, while Anrich Nortje withdrew from Test cricket during the 2023–25 World Test Championship (WTC) cycle. However, heading into the WTC final against Australia at Lord's next week, the coach finds himself with a selection headache. While other quicks were injured during the summer — including Lungi Ngidi, who was unavailable for the home Tests — Dane Paterson grabbed his opportunities with both hands. The 35-year-old took a five-wicket haul in his first Test at home since January 2020, ripping through the Sri Lanka batting line-up at St George's Park in Gqeberha. In the very next Test match, on Boxing Day at SuperSport Park in Centurion, Paterson claimed…