Sommaire pour 2025-04-10 de Cape Times

International markets are in turmoil as US President Donald Trump’s tariffs – which have been revised upwards for many countries – came into effect at midnight with a negative spillover effect anticipated for South Africa as the rand flirts with historic lows. Old Mutual Group chief economist, Johann Els, has also downgraded his South African growth forecast marginally, down from 2.2% to 1.7% in response to expected softness in US-linked exports but does not foresee a local recession. The South African Reserve Bank’s most recent estimate was 1.9% for 2025. “China and the Euro Area, South Africa’s primary trading partners, are expected to adopt accommodative policy stances, which should help offset lost momentum,” said Els. Yet, as Donald MacKay, founder and CE of XA Global Trade Advisors, told IOL from…

South Africa's financial services led the JSE lower on Wednesday as the local bourse tracked large declines in stock markets all over the world, with investors fearing a global recession arising from the brewing US and China trade war. The global meltdown on stock exchanges due to the imposition of import tariffs by US President Donald Trump on the US's trade partners and counter duties by China saw the JSE All Share Index lower by 2.07% to 82 486 points just after 5pm, and 8.05% down over the last four weeks. Similarly the London Stock Exchange's FTSE 100 Index had fallen 3.25%, the Euro Stoxx 50 Index of leading blue-chip companies in Europe had fallen 3.48%, while the Nikkei had ended 3.9% lower in Japan. On the JSE, the declines…

Since market deregulations in 1996, South Africa’s agricultural growth strategy is premised on continuous access to export markets in Europe and America, while also expanding export footprint to special markets in Asia and the Middle East. The government and the private sector in South Africa have been very successful in forging new trade relations and promoting the country’s image as a trusted and capable exporter of quality agricultural products. In terms of products composition, the country has a competitive edge in fruits like citrus, table grapes, avocados, apples and pears. The country also has a competitive advantage in sugar, wool, mohair, maize, nuts and wine products. The country does have the capability to export meat, however, biosecurity issues coupled with inferior genetics amongst black farmers, who are estimated to own…

Five years on from the beginning of lockdown and the world of work is not what it used to be. Apart from the rise of remote working, the pandemic years brought about a rate of technological advancement in a few years that is equivalent to the previous 50. While many in-person businesses closed, the gig economy exploded with 2.1 million workers going into freelancing in 2020 alone. In South Africa, while this migration was motivated by unavoidable retrenchments and widespread economic instability, across the world, another mass exodus from traditional work occurred in 2021 when workers voluntarily left their jobs driven by a desire for better opportunities and improved work-life balance in what is now referred to as the Great Resignation. The benefits of hiring freelancers The hybrid model became…

Jubilee Metals Group has entered into a partnership with a local miner in a bid to address the mounting piles of platinum group metals (PGM) feedstock at its South African operations. This agreement, announced on Wednesday, is set to facilitate the processing of at least 18 000 tons of surplus material monthly, marking a significant step in Jubilee's operational efficiency. Jubilee has copper operations in Zambia as well as PGM and chrome operations in South Africa. “Our preference is to partner with existing PGM producers to process this excess stock rather than investing further capital to expand our own PGM capacity,” said Jubilee CEO, Leon Coetzer. Although Jubilee did not name the South African PGM producer it has partnered for this agreement, Coetzer said transaction offers the company “the opportunity…

THE presence of armed soldiers during a #JusticeforCwecwe protest in Matatiele, Eastern Cape remains shrouded in controversy as the office of President Cyril Ramaphosa distanced itself from having given the green light. Hundreds of people peacefully marching were met by heavily armed private security officers along with SANDF members already stationed at the school gate on Tuesday. The incident was captured on video footage. The march was organised by the ANC Youth League in the Eastern Cape to demand justice for the 7-year-old Bergview College pupil who was raped allegedly on the school premises while waiting for her transport. No one has since been arrested for the October 2024 incident. Organisers of this week’s march described the presence of armed soldiers as an unwarranted attempt to intimidate and…

The alleged confession of one of the accused in the Joshlin Smith case came under intense scrutiny yesterday, as video footage filmed by a police videographer took centre stage in the ongoing trial-within-a-trial. The clips were taken on March 4 and 5, 2024, two weeks after the six-year-old girl went missing from her Middelpos, Saldanha Bay, home. Her mother, Racquel ‘Kelly’ Smith, claimed she had been at work when she left her daughter with her boyfriend, Jacquen ‘Boeta’ Appollis. Appollis told the police he last saw Joshlin around 2pm when she angrily walked away from her home on February 19, 2024. He went on to smoke Tik with friend Steveno ‘Steffie’ van Rhyn and former accused Lourentia ‘Renz’ Lombaard. All four were arrested, but charges were dropped against Lombaard after…

Zeitz Museum of Contemporary Art Africa (Zeitz MOCAA) is adding nine pan-African and international members to their Global Council to present, promote and preserve contemporary art from Africa and its Diaspora. Zeitz MOCAA is a public not-for-profit institution that collects, preserves, researches, and exhibits contemporary art. The new additions bring the contingent to 27 members, including Global Council Founding Members Bame Pule, Joanna Masiyiwa, Julie Mehretu, Michèle Sandoz, Pulane Tshabalala Kingston, Samallie Kiyingi, Wangechi Mutu, and Yinka Shonibare CBE RA. The Global Council is chaired by Acha Leke, Senior Partner and Chairperson of McKinsey Africa. The new additions include Dr Anita Blanchard (USA), Dave Ross (USA), Holly Peterson (USA), Jessica Nowitzki (Sweden), Michael Armitage (Kenya/UK), Sarah Arison (USA), Makole Mupita (RSA), as well as Otobong Nkanga and Wim van Dongen…

Proteas Test captain Temba Bavuma has been ruled out of the Cricket SA Four-Day Series first-class final due to injury. Bavuma was expected to feature for the Lions against the Titans in the domestic showpiece, which will begin at the Wanderers on Thursday (10am start). The national captain has yet to play for the Lions in the first-class competition this season, despite the Proteas playing their last international match more than a month ago. All the Proteas Test squad members not participating in the IPL have since played first-class cricket for their respective provincial unions. Bavuma was part of the Lions’ squad for last week’s match against the Knights in Bloemfontein, but the match was abandoned without a ball being bowled. The official statement from Lions Cricket regarding Bavuma’s situation…

Maritime industry stakeholders celebrated the significant progress made by Transnet in eliminating the backlog of vessels at anchorage in Durban, dropping the number from 20 to zero in 2024. This achievement comes as a relief to shipping lines, importers, and exporters who have faced costly delays in trade due to port congestion Managing Executive at the Durban Terminals, Earle Peters, made the announcement during Transnet Port Terminals (TPT) celebration of 200 000 TEUs at Durban Multipurpose Terminal (MPT) on Tuesday. Peters said that this performance was testament to increased trade, an improving economy, and the terminal’s growing capabilities, supported by a dedicated workforce ensuring reliable cargo handling. “Over the last five years, the terminal had taken delivery of four reach stackers. The Durban MPT was instrumental in the execution of…

The imposition of a 30% reciprocal tariff on South African agricultural exports by the US represents a turning point in bilateral trade relations. This protectionist measure, seemingly implemented in response to South Africa's trade barriers, threatens to undermine decades of carefully cultivated economic cooperation while exposing the vulnerabilities of the export-dependent agricultural sector. The timing could hardly be worse for South African producers, as many are still recovering from pandemic-related disruptions and facing increasingly challenging global market conditions. In 2024, South African total agricultural exports recorded about $13.7 billion (R253.5bn); the US absorbed about 4% of this total. Over the years, several high-value agricultural subsectors have relied on African Growth and Opportunity Act (Agoa) to capitalise on the US market through its duty-free access provision for a wide range of…

As the pet industry in South Africa continues to boom, Nadia Koegelenberg, the photographer behind the lens at Moonrise Creative Studio, was able to blend her two most loved passions, animals and photography into a blossoming business. Koegelenberg’s Moonrise Creative Studio specialises in photography and graphic design putting her Bachelor’s degree in Visual Communication to good use. "While I explore all avenues of photography, my heart belongs to pet photography, a passion inspired by my own two beloved dogs: Maverick, a loyal German Shepherd-Labrador mix that doubles as my shadow and Hudson my sweet Pittie who’s really just a baby in disguise," Koegelenberg told Business Report. The young photographer said that entering the highly competitive world of photography was anything but easy, as she stepped into the industry after her…

Nampak has concluded agreements for the disposale of its Zimbabwean unit with the transaction now subject to suspensive conditions. Through Nampak Southern Africa, the South African packaging manufacturer is disposing of Nampak Zimbabwe to TSL, a Harare-based logistics and processing company. “Regarding the proposed disposal of a 51.43% shareholding in the Company by Nampak Southern Africa Holdings Limited, shareholders and the investing public are advised that the seller and TSL Limited have concluded a sale and purchase agreement in respect of the sale, which agreement remains subject to various suspensive conditions,” Nampak Zimbabwe said on Wednesday. It is expected that Nampak Zimbabwe will make an announcement of the complete disposal in the next few weeks. TSL is acquiring Nampak Zimbabwe for a purchase consideration of $25 million. In compliance with…

Former president Thabo Mbeki and erstwhile Justice minister Brigitte Mabandla want to intervene in the R167 million constitutional damages case brought by survivors and victims of apartheid human rights violations to protect their reputations. For several years, Mbeki and Mabandla have been accused of exerting political pressure on the National Prosecuting Authority (NPA) and the police not to pursue hundreds of cases referred to law enforcement agencies by the Truth and Reconciliation Commission (TRC). Earlier this year, several survivors and family members of victims of gross human rights violations under apartheid and the Foundation for Human Rights (FHR) approached the Gauteng High Court, Pretoria. The survivors and victims’ relatives want a high court declaration on the conduct of the offices currently held by President Cyril Ramaphosa and his government, Justice…

THE investigation into the collapse of the George building, which claimed the lives of 34 people has uncovered that the company in question inaccurately presented its capabilities during the registration phase and failed to declare its intention to construct a multi-story building. Human Settlements Minister Thembi Simelane disclosed this when she briefed the media on the findings of the National Home Builders Registration Council’s (NHBRC) investigation into the incident. Liatel Developments, under director Theuns Kruger was the company contracted for the development. The investigation led to findings covering areas such as the homebuilder certification, inspection model, supervision, structural defects, skills adequacy of non-technical engineering persons and adherence to Occupational Health and Safety Act, among others. “Therefore, we shall not hesitate to act against those who bring and have brought shame…

Rescued from dire circumstances in Montenegro and Ukraine, lions Nikola and Vasylyna, have made remarkable strides in their rehabilitation and adaptation to a life befitting their species. This month marks the one-year anniversary of the rescue and relocation of the lions affectionately known as 'Nikolyna,' to their forever home at Lionsrock Big Cat Sanctuary. Upon their arrival at Lionsrock on April 26, 2024, after a successful transfer from the Felida Big Cat Sanctuary in the Netherlands, Nikola and Vasylyna immediately began exploring their new species-appropriate environment. The sanctuary staff had meticulously prepared for their arrival, ensuring that their enclosure was equipped with elevated platforms, natural hiding spots, and interactive enrichment tools to stimulate their innate behaviours. "Nikola and Vasylyna have been with us for a year now, and I can…

A stampede of life-size animal puppets made from raw, recycled materials will embark on a 20 000-kilometer journey from Kinshasa to the Arctic Circle to raise awareness about wildlife and the threats posed by global warming. Along the route, animals indigenous to the countries the animal puppets are travelling through will join the group. The Herds, as this large-scale public arts production is called, will make their first stop in Kinshasa this week, gathering on the banks of the Congo River from yesterday until April 11. From there, they will journey to Lagos, Dakar, Marrakesh, Casablanca, Rabat, Andalucia, Madrid, Barcelona, Marseille, Arles, Paris, Venice, London, Manchester, Copenhagen, Aarhus, Stockholm, and Trondheim, culminating in a final event in the Arctic Circle. The production is a partnership between Ukwanda Puppets & Design…

PRESIDENT Donald Trump's recent imposition of sweeping tariffs has sent shockwaves through the global economy, with Africa – and notably South Africa – feeling acute tremors. These tariffs not only threaten to dismantle the African Growth and Opportunity Act (AGOA) but also challenge the very fabric of US-Africa trade relations. AGOA, established in 2000, was intended for African countries with trade and investment preferences into the US market through the omission of duties and tariffs, offering duty-free access to over 1 800 products. This initiative spurred economic growth, particularly in sectors such as apparel and automotive manufacturing. For South Africa, AGOA facilitated over $2 billion in vehicle and auto parts exports to the US in 2024 alone. However, the recent tariffs have cast significant doubt over these gains. South Africa…

Even if World Rugby outlawed the use of a 7-1 Bomb Squad – or Nuke Squad, as it’s sometimes referred to in South Africa – ahead of the start of the Springboks international season, head coach Rassie Erasmus would’ve found new and inventive ways to try and circumvent it as he continues to evolve the world champions. There has been an outcry from certain parts of the international rugby world about South Africa’s use of seven forward replacements and only one in the backline since they started deploying it before the 2023 Rugby World Cup. The ingenious split of the bench was the brainchild of Erasmus, and was used twice during the successful 2023 tournament in France. The Boks implemented the unusual plan against Ireland in the group stages, though…

By the time you read this, Stellenbosch FC’s fate in the CAF Confederation Cup would already have been decided. Either Steve Barker and his charges are still celebrating after the club’s most famous night in Cairo, or the men in maroon have left the mythical land of pyramids and pharaohs with their tails between their legs. But regardless of the outcome against Zamalek at the imposing Cairo National Stadium, Stellenbosch FC are the real game-changers of South African football. Mamelodi Sundowns are undoubtedly the pacesetters. The Brazilians are simply on another level – both in terms of resources and how best they utilise it to full effect. Their qualification on Tuesday evening for yet another CAF Champions League semi-final is no fluke. Soweto giants Orlando Pirates and Kaizer Chiefs, of…

Trump last night gave all countries a 10% baseline except China, which will see even higher levies at 125% The rand recovered instantanously on Wednesday night after suffering a near record low earlier in the day after US President Donald Trump announced a 90-day pause on his sweeping tariffs, whic hammered global markets and raised the odds of recession. Trump on Wednesday gave all countries a 10% baseline except China, which will see even higher levies at 125%, saying that more than 75 countries had asked for negotiations over the hefty tariffs. "Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately" Trumo said on Truth Social.…

These are tumultuous times. Global geopolitics has sharply turned towards isolationism, protectionism, and transactional diplomacy. Under the Trump administration's revived leadership in the US, the world is witnessing the resurgence of trade wars and punitive tariffs. South Africa is finding itself increasingly at the crossroads of this geopolitical chessboard, especially as it pushes ahead with long-overdue reforms in land redistribution and agricultural transformation. The renewed economic nationalism from Washington is unsettling. For South Africa - a key player on the African continent and a country with a complex yet critical trade relationship with the US - this shift has immediate and far-reaching consequences. Agriculture, in particular, stands vulnerable. The sector, which had begun to reap modest but important benefits from the African Growth and Opportunity Act (Agoa), now faces the…

The African Continental Free Trade Area (AfCFTA), which commenced trading in 2021, represents a historic opportunity to unite 1.3 billion people under a single market with a projected gross domestic product (GDP) of $3.4 trillion (R61.2trl). However, SMMEs’ ability to participate meaningfully in this transformative trade framework remains constrained by systemic barriers, particularly access to finance, market readiness, and operational scalability. According to the African Development Bank (AfDB), Africa’s SMME financing gap stands at a staggering $331 billion annually, with formal SMMEs receiving less than 20% of the credit they need. Non-tech sectors such as agriculture, manufacturing, retail, and services are disproportionately affected, as investor attention remains skewed towards scalable technology-driven ventures. Without deliberate interventions to bridge this financing gap, there is a real risk that the AfCFTA will deepen…

Purple Group saw its strongest half-year performance after its financial services and online platforms generated good revenue growth, efficiencies improved, and client engagement increased. Results for the six months to February 28 on Wednesday showed attributable profit up 208.5% to R33.5 million. Revenue increased 25.8% to R238m. Operating expenses increased 13%, well below revenue growth. Some of the group brands include EasyEquities, EasyCrypto, EasyRetire, and EasyTrader. “We're hitting our stride. This isn't just growth - it's proof our platform model scales with discipline and client-led intent. While the macro environment is easing, uncertainty around global trade tactics - particularly from the US - continues to influence sentiment,” CEO Charles Savage said. Headline earnings a share increased 204.1% to 2.36 cents, exceeding the August 31, 2024 full-year earnings per share of…

The United Nations (UN) in Africa has urged the continent to find self-sustainable measures for development finance in a bid to counter the suspension of aid from the United States. Claver Gatete, UN Under-Secretary-General and Executive Secretary of Economic Commission for Africa, said the next five years to 2030 must be marked by bold leadership, decisive policies and strengthened partnerships that will place Africa on a trajectory of sustainable prosperity. Gatete highlighted several structural vulnerabilities restraining Africa’s progression, including the lingering impacts of COVID-19, climate shocks, persistent conflicts, geopolitical tensions, and an escalating debt burden that currently stands at 64.3% of GDP. He said that such a high debt ratio severely narrowed the fiscal space for crucial investments in vital sectors such as education, health, and infrastructure. Furthermore, Gatete…

The EFF has denied claims that they were in talks with the ANC as the party yesterday filed court papers to challenge the adoption of the 2025 fiscal framework and revenue proposals, especially the VAT hike. The party filed its papers in the Western Cape High Court seeking to have the framework declared invalid and unconstitutional following the passing of the budget last week. The court papers were filed hours after the ANC announced that they were still in talks with their coalition partner the DA amid speculation over the future of the Government of National Unity (GNU). This follows the DA’s lodging of its own court papers last week after the party voted against the budget in the National Assembly. The EFF's court application argues that the National Assembly's…

Four years ago, UCT student Luhlanganiso Majebe, then 18, was announced as the first recipient of the Uyinene Mrwetyana Scholarship. This month she graduated with her Bachelor of Arts degree, majoring in political studies and law. The scholarship was established in honour of the late Uyinene Mrwetyana - a first-year UCT student whose life was cut short owing to a horrific murder at the Clareinch Post Office. The scholarship is an initiative of the Faculty of Humanities and has been set up in partnership with UCT’s Development and Alumni Department (DAD). Majebe knows all too well about the circumstances that led to the establishment of the scholarship. “I remember seeing the banner asking, ‘Where is Nene?’ and that’s where we started having the conversation. I was head girl at the…

RIVERS of Living Waters Church leader Bishop Bafana Stephen Zondo yesterday asked for the recusal of the judge hearing his trial in which he is accused of raping members of his church, claiming that the judge is biased and had already made up his mind about his guilt. It was Zondo’s turn to present his defence before the Gauteng High Court, Pretoria. He, however, chose to ask for his acquittal as he argued that at this point, the State did not prove that he had a case to answer to. According to him, the evidence was weak. Judge Papi Mosopa, however, last month turned down his application and said at this point, Zondo did have a case to answer to. In hitting back, Zondo’s legal team, headed by Advocate Piet…

The winds of change are blowing through the Banyana Banyana set-up, and coach Desiree Ellis is convinced that this will benefit the team going forward. Banyana are fresh from two international friendlies against COSAFA neighbours Malawi, winning both matches 3–0 and 2–1, respectively. These games primarily served as preparation for their defence of the Women’s Africa Cup of Nations (WAFCON) crown in July. Ellis experienced a rollercoaster of emotions in response to the results, feeling the team could have won by larger margins and managed the tempo better. Nonetheless, she was able to introduce relatively new faces into the squad, blending them with senior players. Casey Gordon earned her maiden cap, while Shakira O’Malley and Kgaelebane Mohlakoana returned to the fold following their debuts and respective prolonged absences. Ellis also…

Stellenbosch FC have etched their name into the record books after the Western Cape side booked their place in a first-ever CAF Confederation Cup semi-final with a historic 1-0 victory over Egyptian giants Zamalek on an intoxicating Wednesday evening at the Cairo International Stadium. Steve Barker’s team dumped the defending champions out on their home turf, courtesy of a finely taken goal from Sihle Nduli, who crashed home Lesiba Nku’s pass high into the Zamalek net to send the entire Stellies team streaming towards the corner flag in celebration of the club’s most famous goal. Stellenbosch will now face Tanzanian side Simba FC, who is coached by South African Fadlu Davids, in the semi-finals. It seems absurd to think now that South African clubs were once deeply reluctant participants in…

Declan Rice admitted his brilliant free-kick double in Arsenal’s stunning 3-0 win over Champions League holders Real Madrid was years in the making. Rice scored with two sublime free-kicks in the second half of the quarter-final first leg at the Emirates Stadium on Tuesday night. The England midfielder’s long-range rockets were followed by a Mikel Merino goal as Arsenal moved to the brink of reaching the Champions League semi-finals for the first time since 2009. It was an incredible result, made all the more remarkable by the fact Rice had never scored a free-kick in his career until the first of his set-piece blasts flashed past Real keeper Thibaut Courtois. “It’s been in the locker, but I’ve hit the wall too many times or it’s gone over the bar,” Rice…