Sommaire pour 2025-05-29 de Cape Times

The global economic outlook has deteriorated significantly since the start of 2025, driven by volatile trade policies and the disruptive rise of artificial intelligence (AI), according to a World Economic Forum (WEF) report released on Wednesday. The Chief Economists Outlook highlights growing uncertainty, with 79% of surveyed economists viewing current geoeconomic shifts as a structural transformation rather than a fleeting disruption, posing risks to long-term growth and stability. The report underscores the impact of recent US trade policy shocks, which have shaken confidence in the global economic order. On April 2, the U.S. announced sweeping tariff hikes, including a 10% baseline on most global goods and significantly higher rates targeting countries with trade surpluses, notably China. This triggered market turmoil and retaliatory measures, with China imposing 145% tariffs on US…

Department of Agriculture bans chicken from Brazil due to avian influenza outbreak South Africa is grappling with potential food insecurity this winter after the Department of Agriculture’s has banned chicken from Brazil due to an avian influenza outbreak. The ban, effective since May 15, 2023, halts imports of live poultry, eggs, and fresh or frozen poultry meat, raising alarms over the supply of mechanically deboned meat (MDM) and poultry offal critical for affordable processed meats like polony, viennas, and sausages. The Association of Meat Importers and Exporters warned on Wednesday of serious economic and food insecurity consequences for South Africa as a result of the recent outbreak of Avian Influenza (HPAI) in Brazil. “Local producers cannot, and will not be able to meet the gap in supply of poultry offal…

Sharp criticisms have emerged over the structure of the new Mineral Resources Bill that was gazetted for public comment last week by Minister of Mineral and Petroleum Resources Gwede Mantashe with the DA on Wednesday saying, "The new minerals bill is a disaster in the making." This comes hot on the heels of the Minerals Council on Tuesday saying its contributions were not incorporated. Mantashe and other government officials hope that the Mineral Resources Development Bill and the Critical Minerals and Metals Strategy blueprint will help to shore up mineral exploration, spearhead SA’s production of critical minerals and attract international investment into the mining sector. “The bill is poorly thought out. It is contradictory and unclear in several places. It grants new powers to the Minister to rule the industry…

Finance Minister Enoch Godongwana’s Budget 3.0 may have spared us a VAT hike curse. Still, he did unleash a slow poison in the form of a 4% inflation-linked increase in the fuel levy, adding 16 cents per litre on petrol and 15 cents on diesel, effective from 4 June 2025. Small businesses that dodged the blue “VAT devil” now face a red “fuel-levy demon” pushing up transport and input costs, squeezing already razor-thin margins. Between a VAT hike that would have been a broad-based bite or a fuel levy that’s a sneaky surcharge on every wheel that turns, entrepreneurs must decide which monster stings less—and learn to sidestep whichever serpent gets under their bonnets. The last time South Africans danced to “the devil made me do it” was during the…

Auditor-General Tsakani Maluleke has found that the trend of poor audit outcomes continued in local government, with only 41 municipalities obtaining clean audits in the 2023/24 financial year. “While 59 municipalities have improved their audit outcomes since 2020/21 (the last year of the previous administration), 40 have regressed,” said Maluleke. She tabled the 2023/24 general report on the local government audit outcomes in Parliament yesterday. Maluleke also said the most prevalent audit outcome in 2023/24 was an unqualified audit opinion with findings on performance information and/or compliance, received by 99 municipalities. “While the audit opinion on the financial statements of these municipalities may be unqualified (unmodified), meaning that their published financial statements are credible, the material findings on performance information mean that their performance reports are not credible, while the…

SUSPENDED Road Accident Fund (RAF) chief executive Collins Letsoalo refused to comment on ‘his special leave’ amid allegations of interference in a high-profile investigation into a controversial R79 million lease deal. The decision, announced by Transport Deputy Minister Mkhuleko Hlengwa during a Standing Committee on Public Accounts meeting, underscores the deepening scrutiny faced by the RAF as it grapples with claims of corruption and maladministration. The suspension is set to remain in place until the conclusion of the investigation by the Special Investigations Unit (SIU), which is probing alleged financial mismanagement within the organisation. In a twist that adds weight to the ongoing investigation, the SIU’s preliminary report suggests that Letsoalo may have meddled in procurement processes, specifically by overturning decisions made by the bid committee in favour of Mowana…

Auction house, Strauss & Co, set a new world record for Russia-born South African painter Vladimir Tretchikoff this week with the sale of his 1955 portrait Lady from the Orient for R31 892 000. The iconic painting was sold to an anonymous telephone bidder after a dramatic flurry of 89 bids, narrowly beating a determined in-room contender at the live auction in Johannesburg. The final price, inclusive of commission and taxes, comfortably eclipses the previous world record for a Tretchikoff work, set at £982 050 in March 2013 at a London auction for Chinese Girl (1952). “It is always good when there is a murmur before a big lot,” said auctioneer Alastair Meredith as he introduced Lady from the Orient. Bidding opened briskly and quickly escalated. “We’ve breached the…

The State wants nothing less than life imprisonment for the three individuals convicted of kidnapping and trafficking the missing Saldanha Bay child, Joshlin Smith. State Advocate Zelda Swanepoel urged the Western Cape High Court to impose the prescribed minimum sentence of life imprisonment for the human trafficking conviction. “We use today’s evidence to be the voice of Joshlin,” said Swanepoel. Jacquen ‘Boeta’ Appollis, Steveno van Rhyn, and Kelly Smith, were found guilty on May 2 and are expected to be sentenced today. Despite entering the courtroom with apparent confidence, the trio’s composure shifted as Swanepoel firmly argued they are not wanted in society. Swanepoel stressed that the trauma of Joshlin’s disappearance has rippled far beyond her immediate family. “This case has affected the community of Saldanha Bay and even drawn…

The Stormers are bracing for a dog-fight at the rucks and breakdowns against Glasgow Warriors in tomorrow’s first United Rugby Championship (URC) quarter-final in the Scottish city. For Marcel Theunissen, loose forward of the Cape side, it will be another opportunity to push up his stocks as he faces some seasoned campaigners from the defending champions on their home turf. But it’s not only at the tackle area where he will be a vital cog. He’s also become a prolific lineout-jumper and ball carrier for his side, and those all-round skills will be crucial as the Stormers push for a semi-final spot at Scotstoun Stadium (8.35pm start). The loss of Ben-Jason Dixon and Deon Fourie after some unfortunate injuries this season benefited Theunissen, who had to wait for his opportunities…

The Association of Comms and Technology (ACT) has welcomed the recent directives from the Minister of Communication, Solly Malatsi regarding the alignment of ICASA's empowerment regulations with the B-BBEE ICT Sector Code. On Tuesday, Malatsi appeared before the Portfolio Committee on Communications and Digital Technologies to justify his directive, which seeks to “align” the Electronic Communications Act and the ICT Sector Code. "This policy development, coupled with a proposed inquiry into the necessity of I-ECNS licence applications, marks a pivotal moment for South Africa's telecommunications sector, potentially reshaping the landscape of competition and transformation," ACT said in a statement. As the industry stands on the brink of significant regulatory reforms, ACT said it urges that these changes be implemented with transparency, consistency, and equitable enforcement of the law. "If executed…

In a stark reflection of the economic pressure faced by South African families, the latest Household Affordability Index for May 2025 revealed an increase in the cost of basic groceries across the country. The report highlighted the ongoing escalation of food prices as well as the widening gap between wages and the rising cost of living, particularly for the poorest households. Compiled monthly by the Pietermaritzburg Economic Justice and Dignity Group (PMBEJD), the food index showed that in May 2025, the average cost of a household food basket was R5 466,59. This was a month-on-month increase of 0.9% (R46.29) and a yearly increase of 2.6% (R136.29). Price movements signal ongoing struggles Of the 44 foods examined, 33 items saw price hikes in May 2025, with several staples experiencing increases of…

E-hailing company Bolt said it concluded its first Accelerator Program in South Africa, awarding €20,000 (over R400 000) in funding to ten participants. Bolt said that the initiative marked a significant step in the company’s efforts to support entrepreneurial growth within its driver and courier community. Launched in December 2024 in partnership with business academy Pranary, the program attracted over 578 applications nationwide, with Gauteng submitting the highest number. Women made up 7% of the applicant pool. "When we empower everyday entrepreneurs with the tools to build, we don't just ignite businesses, we transform communities and shape the future of Africa's mobility. True innovation thrives in an ecosystem where ideas are nurtured, collaboration is championed, and every voice has a seat at the table. At Bolt, we're building more…

Coronation Fund Managers does more than just invest over R670 billion of its clients' savings for better returns; its mandate includes ensuring funds are invested responsibly and in line with ESG considerations and in 2024, it voted on 6 244 shareholder resolutions as part of this strategy. South Africa's biggest independent asset manager has released a Stewardship Activities Report, which sheds light on the key interactions that the fund manager implemented in pursuit of not only better financial outcomes for shareholders in corporate deals, such as mergers and acquisitions, but also in the pursuit of improved Environmental, Social, and Governance considerations. The report is unique in South Africa, as asset managers do not often publicly disclose the reasons for their investment positions in depth. Coronation said it attended 482 shareholder…

Minister of Trade, Industry and Competition Parks Tau has named Sizekhaya Holdings, a consortium partly owned by gambling company Goldrush, as the next operator of the National Lottery for the next eight years. Sizekhaya is led by KwaZulu-Natal businessmen Moses Tembe and Sandile Zungu, the owner of AmaZulu Football Club. Last week, Judge Sulet Potterill ordered Tau to announce the bidder by May 28 and declared the decision to issue a temporary licence unconstitutional. However, to prevent lottery ticket sales from halting, Potterill suspended the order for five months, allowing a temporary licence to be awarded for that period. Making the announcement on the court-ordered date, Tau said that he had intended to announce the successful bidder on the same date, provided that licence agreement negotiations were successfully concluded. However,…

Presley Chweneyagae has been described as a one of South Africa’s most powerful creative voices, whose legacy will remain etched in the hearts of the youth who look to the stage and screen with hope because of the path he paved. Heartfelt condolences continued to pour in following the death of Chweneyagae, aged 40. The talented actor became a household name for his work in the critically acclaimed film "Tsotsi," which won the Oscar for Best Foreign Language Film in 2006, as well as in "Mandela: Long Walk to Freedom". Chweneyagae’s “Tsotsi” co-star Terry Pheto paid tribute to the actor. “I’m shocked and saddened by the news of Presley’s sudden passing. My heart goes out to his family and the rest of our friends and colleagues in the film industry.…

The Jaecoo J7 SHS plug-in hybrid version of the J7 SUV is set to become the second Jaecoo nameplate to be launched locally and the first of several new and electrified models to be launched. Jaecoo is a subsidiary of Chery, which sells the Tiggo 4, Tiggo Cross, Tiggo 7 and Tiggo 8. Power As a hybrid powertrain, the J7 SHS is powered by a 1.5-litre four-cylinder turbocharged petrol engine with 105kW and 215Nm and a permanent magnet synchronous electric motor with 150kW and 310Nm coupled to a Lithium Iron Phosphate battery providing peak outputs of 255kW and 525Nm. Consumption The J7 SHS plug-in hybrid is said to have a combined range of 1,200 kilometres on a tank of fuel, consuming less than 5l/100km. On a recent 1 100 kilometre…

Bafana Bafana have been on an upward trajectory recently, which is why expectations will be high for the team to win both of their international friendlies in June. Bafana will face Lesotho and Nigeria in the 2026 World Cup qualifiers in September, knowing that victories in both matches will secure their place at the finals in North America. To ensure they leave no stone unturned in their preparations and expand their squad, Bafana have scheduled two friendlies on home soil. Hugo Broos’ side will host Tanzania at the New Peter Mokaba Stadium next week Friday (kick-off 7.30pm), before facing Mozambique four days later at Loftus Versfeld. Broos is set to announce his 23-man final squad on Thursday afternoon, despite omitting Mamelodi Sundowns players due to their congested schedule. Sundowns will…

Absa Corporate and Investment Banking (CIB) has slashed its 2025 GDP growth forecast for South Africa by half, from 2.1% to 1.0%, due to heightened global uncertainties. The updated outlook was presented in the South Africa Q2 2025 Quarterly Perspectives report on Wednesday. Miyelani Maluleke, a senior economist at Absa CIB, said in Absa's Q1 Quarterly Perspectives, that they had forecast that real GDP growth could improve to 2.1% in 2025 supported by a combination of improved domestic infrastructure, household finances, higher levels of business confidence, recovery from drought conditions, and broadly stable global growth. However, this forecast has now changed. "While some of these factors seem likely to remain supportive, others have deteriorated. We still expect real GDP growth to improve from 2024, but we revise our forecast to…

Big corporations like Amazon, Starbucks, and Uber may be pushing employees back to the office, but that doesn’t mean the same approach works for all companies. Within the small and medium enterprises (SMEs) community, not all businesses can benefit from remote work. However, for those SMEs where remote work continues to offer significant advantages such as lower overheads, access to a broader talent pool, and greater flexibility for staff, there needs to be clear guidelines in place. Making remote work effective takes more than a solid internet connection. If you're considering a flexible work model, here are five practical tips to help you get the most out of your remote team. Set clear expectations from the outset Remote work doesn’t mean working without structure. If anything, structure becomes more important.…

A bidding war may have started for JSE and Altx-listed central and eastern Europe property investment group MAS, between Prime Kapital Investment Holdings (PKI), which on Wednesday doubled its cash offer to a maximum of €80 million (R1.43 billion), and South African retail-focused property Hyprop. PKI’s lifting of its offer for 65% of MAS followed a notice by Hyprop a day before that it wishes to acquire control of MAS in a share-for-share or share-for-cash deal, which would be determined based on the closing market price of MAS shares on May 23, 2025, rather than the lower PKI cash offer price of €0.85 per MAS share, as announced by MAS on May 16, 2025. PKI has subsequently increased its cash offer from €0.85 per share to €1.10 per share. PKI…

HEALTH Minister Aaron Motsoaledi says his department was facing seven legal cases, which included five over the NHI and two on the National Health Act amounting to R9.1 million. “From October 2023 when the first counsel was briefed, the total amount paid is R9,696,679,99. There is no pending financial liability for any cost product since the single judgment that came out so far is under appeal,” he said. Motsoaledi made the comment during the question and answer session in the National Assembly. DA MP Michele Clarke had enquired whether Motsoaledi was responding about the total expenses incurred regarding litigation involving the National Health Insurance Act, including the estimated financial liability for any adverse cost order. Motsoaledi said the department was using the same legal team to fend off…

The Department of Correctional Services has been held accountable for the damages caused to a family whose 18-month-old son drowned in 2010 in the swimming pool at the Mandela House premises, located at the former Victor Verster Prison. The Western Cape High Court found that the department acted negligently in not ensuring that the swimming pool on its premises was secured. The parents, referred to in the judgment as the H family, turned to court after it held the department liable for their child’s death. The now-named Drakenstein Correctional Centre, previously known as the Victor Verster Prison, is located midway between Paarl and Franschhoek. Adjacent to and some distance from the high walls and gates of the prison complex lies a three-bedroom house with a garden and a swimming pool…

THE finalists have been announced for the Africa Tech Week Awards 2025. The event is a celebration of excellence, innovation, and impact in South Africa’s dynamic tech ecosystem. The awards will honour the trailblazers transforming the continent through technology. The black-tie affair promises sophistication, inspiration, and world-class entertainment, hosted by the brilliant and beloved Alan Committee on June 3 at the Century City Conference Centre. Here are some of the finalists: Organisational Awards: ● Batanidza Technologies ● Float Technologies ● ROCVEST Systems ● LEMI App ● Harvest Animation ● Cyber Crucible, Inc. ● PickMe Africa ● Wonga Online ● Paymenow ● Etapath ● Take Note IT ● ICT Works ● Pula Management ● The Clicks Group…

It was lessons well learnt as the two Toyota Gazoo Racing South Africa (TGRSA) GR Hilux EVOs wrapped up the 2025 South African Safari Rally held around the Sun City Resort in the North West Province at the weekend. The event, sponsored by Toyota Gazoo Racing, was the third round of the World Rally-Raid Championship (W2RC). Wrapping up six days (including the Prologue) of demanding competition, Guy Botterill, Dennis Murphy, Saood Variawa and Francois Cazalet concluded the race with determined performances on the final 111-kilometre special stage around Sun City, bringing home valuable World Rally-Raid Championship (W2RC) points in the process. Pushing hard The stage covered 222 kilometres, featuring two liaison sections split by a high-speed special run through a mix of black sand, soft gravel, rocky outcrops, and dry…

One could understand the absolutely horrible feeling that was enveloping Bulls coach Jake White following the United Rugby Championship final defeat to Glasgow last year. Some fans and critics may have thought it would just be a case of the Bulls rocking up at Loftus Versfeld to clinch the URC title. But they didn’t bank on the fighting spirit of Franco Smith’s Glasgow Warriors, who paid tribute to their name by producing a remarkable fight-back from 13-0 down in the first half to claim an epic 21-16 victory. In the immediate aftermath, White said that “maybe I’m the problem”, mentioning that he had lost a few finals before that too. “I lost a Super Rugby final (against the) Chiefs (when coaching the Brumbies), lost a Rainbow Cup in Benetton, lost…

There was a phrase in the 1980s that went something like this: If Maties rugby is healthy, so is Western Province rugby and subsequently, so too, the Springboks. It never quite transcended to football, but considering the last Bafana Bafana team to win AFCON back in 1996 boasted stalwarts such as Mark Williams, Shaun Bartlett, Andre Arendse and Andrew Tucker, who all hailed from the Cape, there is a discussion to be had. And it just so happens that Bafana are currently enjoying their most successful period since the heady days of ‘96 whilst Stellenbosch FC are fast becoming a force to be reckoned with in the Betway Premiership. However, Stellies’ success should not mask the degeneration of professional football in the Mother City. Cape Town Spurs’ potential second…