Sommaire pour 2026-04-16 de Cape Times

Borrowing facility marks significant step in strengthening SA capital markets and support for private sector growth The International Finance Corporation (IFC) and Citigroup have signed a R1.6 billion borrowing facility aimed at expanding access to local currency financing in South Africa, marking a significant step toward strengthening the country’s capital markets and supporting private sector growth. Announced in Washington, D.C. on Tuesday on the sidelines of the IMF/World Bank Annual Meetings, the agreement forms part of the broader efforts by the World Bank Group to deepen financial systems in emerging markets by reducing reliance on foreign currency funding. As global economic uncertainty persists, initiatives like the IFC-Citi facility highlight the growing importance of partnerships that blend development objectives with private sector expertise — a model that could shape the future…

The International Monetary Fund (IMF) has commended South Africa’s economic management, highlighting the country’s resilience in the face of mounting global uncertainties and regional risks. South Africa has faced a series of economic challenges in recent years, including energy constraints, fiscal pressures, and weak growth. However, the government has implemented a range of reforms aimed at stabilising public finances, improving governance in State-owned enterprises, and addressing structural bottlenecks. IMF managing director Kristalina Georgieva on Tuesday shared positive feedback following high-level discussions with Finance Minister Enoch Godongwana and South African Reserve Bank (Sarb) Governor Lesetja Kganyago, where discussions focused on economic risks facing both South Africa and the broader region. According to Georgieva, South Africa’s economy is showing increased resilience in the face of mounting global uncertainty, even as the IMF…

Debt experts have raised concerns that escalating fuel prices, food costs and inflation are placing severe financial strain on South African consumers, forcing many to rely increasingly on credit to make ends meet. Neil Roets, CEO of Debt Rescue, on Wednesday said the pressure facing households has become widespread and more intense, affecting multiple areas of daily spending at once. “The pressure is no longer isolated to one or two expense categories. It is widespread, persistent, and intensifying," Roets said. "Fuel price increases, higher electricity tariffs, and ongoing food inflation are all hitting households at the same time, creating a perfect storm for financial strain.” Roets added that the fuel and electricity price hikes that came into effect on 1 April 2026 have already proven to be devastating on consumer…

“Every success is a mosaic of invisible contributions; we are shaped by the communities we’re part of, opportunities we are given, and the generosity of others.” These words, attributed to Simon Alexander Ong, came to mind during my recent Easter trip back home. Away from the city lights and hurried pace of Johannesburg, I was reminded of something both simple and profound: the enduring power of community in shaping not only individuals, but entire local economies. There is a particular pride that comes with returning to one’s roots; a quiet, grounding awareness of where one comes from and who helped along the way. In South Africa, especially across rural areas and townships, community is not an abstract idea; it is a living, breathing ecosystem. It is found in the informal…

Many African countries, which have fast-growing energy markets and mines and industries in far-flung rural areas, have expressed interest in the potential development of South African-manufactured pebble bed modular reactors (PBMRs), according to Stratek Holdings chairman, nuclear physicist, and former chairman of the South African Nuclear Corporation, Dr Kelvin Kemm. Centurion-based Stratek Holdings was formed by a small group of nuclear scientists and engineers who are at the stage where they are ready to build a much-improved version of the earlier PBMR that was pioneered by South Africa in the early 2000s. The development of this reactor was put on “hold” after international financiers withdrew from the project because of the global financial crisis of 2008. Since then, a number of PBMRs have been developed by other countries. Stratek’s HTMR-100…

Billionaire businessman Dr Patrice Motsepe’s African Rainbow Capital (ARC) cannot be sued for US$195 million (about R3.2 billion) for breach of a confidentiality agreement for investing in its partner’s competitor. On Tuesday, the Gauteng High Court, Johannesburg ruled that US company Pula Group and its Tanzanian subsidiary Pula Graphite Partners are prevented from filing the lawsuit against ARC. Instead, Judge Leicester Adams declared that if the Pula Group, which is chaired by former US ambassador to Tanzania Charles R Stith, is able to prove a breach of the agreement and damages arising from that breach, its contractual remedies are only against another of Motsepe’s companies, African Rainbow Minerals (ARM). The breach of confidentiality agreement relates to Pula Group and Pula Graphite Partners who accuse ARM and its affiliates of acquiring…

EFF leader Julius Malema will learn his fate in the Magistrate’s Court in KuGompo City today as the State pushes for a prison term of up to 15 years. Magistrate Twanet Olivier heard final arguments from the defence and the State before postponing the matter to today for judgment. Prosecutor Adv Joel Cesar told the court the State is seeking a prison term of up to 15 years for Malema, who was convicted in October 2025 on five counts under the Firearms Control Act. Alternatively, he asked for a sentence of 10 years’ imprisonment, with three years suspended, along with fines on the remaining counts. The charges stem from a 2018 incident at an EFF rally in Mdantsane, where Malema fired a semi-automatic firearm into the air. Co-accused Adriaan Snyman…

Imagine standing at Bloubergstrand at sunrise, watching Table Mountain glow in soft pinks and golds, while the sea sparkles under shifting light. That fleeting magic of atmosphere and colour is pure Impressionism — the revolutionary 19th-century movement that transformed how we see art. In 1870s France, a small group of young painters — Claude Monet, Pierre-Auguste Renoir, Camille Pissarro and others — had grown tired of the stiff, highly polished scenes demanded by the official Paris Salon They wanted to capture life as it actually appeared: sunlight dancing on water, steam rising from a train, or the warmth on a friend’s face. Armed with newly invented portable tube paints, they took their easels outdoors — into gardens, fields and city streets. Working quickly, in a single sitting, they used loose,…

A senior police officer attached to the Western Cape Protection and Security Services (PSS) has been granted R5 000 bail following his appearance at the Wynberg Magistrates’ Court yesterday on charges of sexual assault and rape. Colonel Makhosandile Makara, who was arrested by the Independent Police Investigative Directorate (IPID) on Tuesday, made his first court appearance yesterday. The State alleges that the 55-year-old officer sexually assaulted and raped his 44-year-old female subordinate in May 2025. In an unopposed bail application, the court granted Makara bail of R5 000, subject to strict conditions. “The accused was granted bail with conditions that he must not have any contact with the complainant,” said IPID spokesperson Lizzy Suping. The matter has been postponed to May 27 to allow for further investigation and consultations between…

The Chery Group is no stranger to the “value luxury” space with brands such as Omoda and Lepas, which led me to question whether the core brand should have a large and luxurious flagship like the Tiggo 9 in its portfolio. Then the newcomer rolled silently onto our driveway, its hybrid electric motor humming softly and its mammoth 20-inch wheels attracting instant attention. I must admit that I was struck by its imposing presence. Stately, sporty and very Germanic, but without being an obvious copy of any premium “rivals”. The Tiggo 9 sits at the top of Chery’s price catalogue, with the 2.0T petrol variation costing R689 900 in Pinnacle trim and R779 900 in Vanguard AWD guise, while the CSH plug-in hybrid equivalents range from R839 900 to R989…

President Cyril Ramaphosa’s decision to appoint Roelf Meyer as South Africa’s ambassador to the US is not merely a poor diplomatic choice. It is a shameful, pathetic, and deeply humiliating act of surrender that confirms what many of us have long suspected: the true liberation of the black majority was deliberately derailed three decades ago and is now being openly auctioned off to US imperialism and the protection of white privilege. History has no empty pages, and those of us who lived through the transition know the truth intimately. During the CODESA negotiations, I served as national spokesperson of the ANC and as a junior member of the ANC’s negotiating team. From close quarters – attending sessions, observing side meetings, and monitoring the daily interactions between the delegations – I…

Bulls captain Marcell Coetzee says his good friend and long-standing roommate, Ruan Nortje, agonised over his decision to leave the Bulls for a club in Japan. Nortje is a quintessential Bull — he went to school in Pretoria at Hoërskool Wonderboom, supported the Blue Bulls growing up, joined the Bulls age group system out of school, and to date has played almost 150 games for the senior team since 2018. Nortje captained the Bulls in their URC finals in 2024 and 2025. Last week, Bulls fans were shocked by the out-of-the-blue revelation that Nortje will join the Kobe Steelers in Japan. They were still getting over the news that another star player, David Kriel, is leaving for La Rochelle. “I’ve been his roommate for the past six years,” Coetzee said,…

The Durban High Court will be the scene of tense hearings Thursday and Friday as stakeholders including the government and Industrial Development Corporation (IDC) try to block the final liquidation of South Africa’s biggest sugar producer Tongaat Hulett. The company entered business rescue in 2022 after years of financial distress caused by accounting irregularities, debt overload, and operational losses. Business Rescue Practitioners (BRPs) were appointed to restructure the debt and find investors to recapitalise the company, and the Vision Group was chosen. But this stalled over funding guarantees and compliance conditions, and as the liquidity position worsened and creditors pressed for repayment, resulting in the BRPs filing for liquidation in early 2026. The BRPs said in their latest update on the business rescue that until March 31, 2026, Tongaat continued…

What started out as a geopolitical problem is now affecting energy markets, transportation systems, fertilizer supply, and, eventually, the price of producing food on a global scale. According to recent freight market data, the global supply chain is under increasing pressure. Cost pressures are increasing more quickly than the system can handle this, which will ultimately result in high food prices and an increase in food insecurity, particularly in Africa, Asia, and some parts of the Americas. About 30% of fertilizer, 20% of oil, 25% of liquid nitrogen gas, and 45% of sulphur pass via the Strait of Hormuz. These vital inputs are currently severely blocked. Fertilizer is at the center of the disturbance. According to World Bank data, fertilizer prices have skyrocketed globally as of March 2026. Diammonium phosphate…

With the introduction of a new compulsory VAT registration threshold on 1 April, South Africa's small and medium enterprises (SMEs) are at a crucial crossroads. The limit has now been raised from R1 million to R2.3 million, prompting many business owners to reconsider their VAT registration status. While this change is aimed at relieving the compliance burden for SMEs, the decision to deregister or remain a VAT vendor is not as straightforward as it may appear. For many, the instinct might be to deregister, spurred by the promise of reduced administrative obligations and potential cost savings. However, experts from SME funder Lula stress that business owners should approach this significant decision with caution. “The threshold increase is a positive move in reducing administrative pressure on SMEs,” said Shaheeda Solomon, Finance…

Africa is at a pivotal moment in its hospitality sector, as the continent’s hotel development pipeline reached an unprecedented milestone. With 675 hotels and resorts in various stages of development, translating into 123,846 rooms, investment in the hospitality industry has surged by 18.6% year-on-year. The growth is primarily driven by a booming tourism sector, with international arrivals rising by 8% in 2025, translating to the continent to welcome around 81 million visitors according to the United Nations Tourism. “We’re not seeing global capital flowing into African hospitality. Investment in this region is driven by local and national players, within their own countries,” said Daniel Trappler, Senior Director of Development for Southern and Eastern Africa at Radisson Hotel Group. Local capital is increasingly emanating from pension funds rather than individual private…

South Africa’s economy showed renewed momentum in March, with the PayInc Economic Index recording a strong monthly increase, but economists warn that escalating geopolitical tensions could derail the fragile recovery. The index, compiled by PayInc, rose by 0.9% month-on-month to reach 104.7 in March, placing it 4.6% higher than a year ago. The indicator tracks the value of electronic transactions processed through PayInc, offering a high-frequency snapshot of economic activity. According to Shergeran Naidoo, head of stakeholder engagements at PayInc, the latest reading reflects improving activity across the economy. However, he cautioned that the gains should be viewed in context. Elize Kruger, an independent economist, said that the latest developments signal strong momentum for the first quarter of 2026. “It is evident that the cumulative impact of the tailwinds supporting…

The ANC’s national leadership has removed Jeff Radebe as convener of the party in KwaZulu-Natal, following the failure to revive structures in the province ahead of this year’s local government elections. At a media briefing yesterday, the party’s Secretary-General, Fikile Mbalula, confirmed Radebe’s removal and said he would be replaced by Mike Mabuyakhulu as part of a reconfigured Provincial Task Team (PTT). Radebe was removed along with his deputy, Weziwe Thusi, and Nomusa Dube, the deputy coordinator. Dube, now a Higher Education Deputy Minister, has relocated to Pretoria. She was appointed last year when President Cyril Ramaphosa dismissed Dr Nobuhle Nkabane as Higher Education Minister. Mbalula also announced former eThekwini mayor and SACP provincial chairperson James Nxumalo as the new coordinator. He will be deputised by Umkhanyakude District Municipality mayor…

President Cyril Ramaphosa has pushed back against criticism of his appointment of apartheid-era minister Roelf Meyer as South Africa’s next ambassador to the United States. Speaking on the sidelines of the National Local Economic Development Summit yesterday, Ramaphosa said that any ambassador who does not follow the South African government line would be recalled. “One of the criticisms levelled against Mr Meyer’s appointment is that he joined the ANC. Now, you join the ANC, knowing full well that you are embracing the policies the ANC has articulated,” Ramaphosa told reporters. “Now, I am not emphasising his political affiliation, and as a diplomat, he obviously needs to be as neutral as possible. Mr Roelf Meyer is well attuned to the policies of this country, of this government, and every ambassador who…

The Anti-Gang Unit is investigating two separate shootings in Bonteheuwel on Tuesday evening, which left five people injured, including four children aged between 10 and 16. Police spokesperson Novela Potelwa confirmed that the suspects are still being sought by authorities. The first incident occurred in Amandel Street. “A group was standing outside a shop when a vehicle appeared, and two suspects got out. They opened fire on the group, injuring a 16-year-old teenager and three children aged 12, 11, and 10. “The victims were taken to a medical facility for treatment,” Potelwa said. Shortly afterwards, a second shooting took place in Citrus Street. “A 30-year-old man was shot in the back by a gunman in a moving vehicle. He was also taken to hospital for treatment,” she added. These incidents…

It was a brave person who walked into a Kia global executive meeting and suggested that they should build a double-cab bakkie, and when asked to provide a sketch, showed them the Tasman. Kudos to them, though, despite it being the most polarising aspect of their new venture. People either love it or hate it, but the fact remains that it’s a bold move aimed at similar pricing levels to the top-tier Ranger and Hilux. Kia admits they are not looking to take on the big two or compete against the Chinese entry-level offerings, but for a company that produced the Tasman from the ground up, every sale is one they didn’t have and continues to drive their bottom line. Exterior The Tasman makes an immediate impression with its physical…

Mamelodi Sundowns are on the verge of reaching back-to-back CAF Champions League finals, fueling strong belief within the squad that they can finally win the coveted crown this season. Sundowns will face Esperance in the Champions League semi-final second leg at Loftus Versfeld in Pretoria on Saturday afternoon (3pm kick-off). The South Africans will head into the match high on confidence – they hold a solid advantage with a clean sheet and an away goal after a 1-0 win in the first leg in Tunis last Sunday. The Brazilians’ win, which came courtesy of Brayan Leone’s goal, was also historic. It was the first time they beat Esperance away in the knockout stage of the competition in three successive matches. The initial first-leg meeting ended in a 1-0 win for…

On a street in a suburb of Port-au-Prince, a dozen teenagers using stones for goalposts are immersed in a Sunday game of football as traffic winds around them. Haiti has many problems, including political instability, poverty and crime. But through it all, the heart of the nation beats for football. Haiti’s qualification for this summer’s World Cup has come like a breath of fresh air for the poorest nation in the Americas, whose nearly 12 million people have long grappled with gang violence that has caused a humanitarian crisis. “Football is hope and love. It inspires pride and passion,” said Salome Sandler Tally, founder and coach of the women’s section of Aigle Noir AC, a professional club based in the Haitian capital. “Qualifying for the World Cup is something special…

A sharp decline in South Africa’s white maize prices has drawn mixed reactions from across the agricultural sector and consumer groups, highlighting a growing divide between relief for households and rising pressure on farmers. According to Wandile Sihlobo, chief economist at the Agricultural Business Chamber of South Africa, white maize spot prices have dropped by 39% year-on-year, currently trading at around R3,118 per ton. Sihlobo said that among other things, South Africa had a large maize harvest in the 2024-25 production season, but exports were slow in the marketing year that corresponded to this production year. “In essence, we have ample supplies. The outlook for the 2025-26 production season we are in also looks promising, with an expected harvest of 16.5 million tons, down 1% from the previous season…

President Cyril Ramaphosa has called for a decisive shift in how municipalities drive economic growth, placing small businesses and service delivery at the centre of efforts to rebuild local economies. Delivering the keynote address at the 2026 National Local Economic Development (LED) Summit in Ekurhuleni on Wednesday, Ramaphosa said municipalities must reposition themselves as “incubators of economic activity” rather than passive administrators. The summit follows the recent South Africa Investment Conference, which secured R890 billion in pledges. However, Ramaphosa stressed that investment ultimately materialises at local level. “When investors build their business in our country, they don’t set up factories… in front of the Union Buildings,” he said. “This investment takes place in metros, cities, towns and villages,” Ramaphosa said. He warned that weak governance continues to undermine economic potential,…

The general success rate for business funding applications in South Africa remains low, with industry estimates suggesting that fewer than one in three applications are ultimately approved. In South Africa’s constrained funding environment, where many of the capital providers can be too selective and risk-conscious, knowing how to pitch your business funding application is important. Too often, funding pitches focus on the urgency of needing capital rather than clearly articulating why the business is investable, scalable and able to repay – or grow – the funding over time, which is where many otherwise viable businesses fall short. As a starting point, identify your preferred financiers and take time to really understand their application process and what they are assessing. At Business Partners Limited, for example, the funding process is structured…

South Africa’s mining sector delivered a strong start to 2026, with production rising sharply in February, but underlying weaknesses and external risks continue to cloud the industry’s outlook. According to Statistics South Africa, mining production increased by 9.7% year-on-year in February, building on a 5% rise recorded in January. According to the Minerals Council South Africa, the surge was largely driven by platinum group metals (PGMs) and increased demand linked to China’s stockpiling strategy. PGMs were the standout performer, expanding by more than 50% year-on-year and contributing the bulk of the overall increase. However, this growth was partly attributed to a low base in 2025 rather than a sustained structural shift in demand. At the same time, the Minerals Council said China’s efforts to secure supplies of critical steelmaking inputs—including…

Suspended EMPD acting chief, Commissioner Julius Mkhwanazi, is under fire after failing to explain a late-night trip that has no recorded link to an alleged police operation, no clear operation plan, and no identified commander. Testifying at the Madlanga Commission, Mkhwanazi said he rushed to a scene at 2 a.m. on 15 April 2022 after receiving a call from police informant Jaco Hanekom regarding the recovery of a stolen truck. However, his account quickly unraveled, as there is no record of the call, no record of the operation, and Mkhwanazi could not say who was in charge. Commission chair Mbuyiseli Madlanga rejected his explanation, calling it “senseless” and “implausible,” and accused him of not telling the truth. Mkhwanazi maintained he saw nothing and left when he realised SAPS was involved,…

THE highly-anticipated bail judgment for Cape businessman Shaun Roos was halted yesterday after the court heard that the accused allegedly attempted to have a witness kidnapped. Roos, 56, returned to the Cape Town Magistrate’s Court facing a Schedule 5 charge of corruption after he allegedly bribed City Manager Lungelo Mbandazayo with R4 million to reinstate tenders for his road surfacing company, Triple C and Maintenance. The company had several tenders with the City; however, it was later found that alleged tender fraud was at play, which led to a joint investigation by the City’s Ethics and Forensics Department and SAPS. Roos was arrested on March 3 during an undercover operation carried out at Watercress Mall in Somerset West, with Mbandazayo acting as an agent. Yesterday’s appearance was set down to…

South Africa on Tuesday handed back to Zimbabwe ancestral human remains and a centuries-old stone carving of its sacred national emblem, the Zimbabwe Bird, stolen more than 100 years ago during the colonial era. The restitution was part of a worldwide push for the repatriation of artefacts looted from African countries during colonisation. Eight coffins draped in the Zimbabwean flag were present at the handover event in a Cape Town museum, attended by officials from both countries. Little was known about the remains except that they belonged to people who had been exhumed as “scientific specimens”, officials said. One was believed to have been a tribal chief whose skull and jaw were collected in 1910, culture minister Gayton McKenzie said. “He was somebody’s leader, a lot of people’s ancestor. He…

In a ground-breaking judgment, the Labour Appeal Court found that calling someone a “white racist” does not, in itself, constitute racism. The Court ordered Namaqua Wines to reinstate Vuyani Qomoyi, finding that his dismissal in 2021 for allegedly “displaying racist behaviour” was substantively unfair. This follows the Commercial, Stevedoring, Agricultural and Allied Workers Union (CSAAWU), acting on behalf of Qomoyi, appealing the Labour Court judgment which had confirmed his dismissal. Qomoyi, a shop steward, was fired because he had referred to his superior, Mr Meyer, as a white racist. “Being referred to by one’s racial classification cannot on its own amount to racist tendencies,” Acting Judge GN Moshoana remarked. While busy with his duties, Qomoyi was called by Meyer to accompany him to the Human Resources Office. The unsuspecting Qomoyi…

Just two months ago, South Africans were enjoying the lowest fuel prices in four years. How times have changed. The war in the Middle East has sent global oil prices spiralling, and a weaker rand has also piled pressure on South Africa's fuel price structure, together leading to record fuel price increases in April, with petrol rising by R3,06 per litre and diesel by up to R7,51. Prices could spike further in May, unless the imminent ceasefire negotiations prove successful and oil prices fall below current levels for the remainder of April. Although the government has given South Africans a temporary tax reprieve, with the General Fuel Levy having been reduced by R3, from R4,11 to R1,11, for the month of April, there is currently no indication of whether this…

Sooner or later, there will be no one to speak for us Even though I do not know the depth of allegations against Professors Sakhela Buhlungu and Nokuthula Sibiya, their cases may well fall smack in this category of flimsy allegations. The Zondo and Madlanga Commissions have helped to lay bare “state capture” in South Africa. With some of it being dramatised on TV through many witnesses, only a few could claim not to know what it is. On March 23, USAf held a seminal webinar on institutional governance, focusing on what was termed ‘institutional capture’ in the higher education sector. Evidently, state capture is what inspired this webinar. The jury is still out on what ‘institutional capture’, if separate from ‘state capture’, really is. There is ample evidence, though,…

Stormers stalwart Scarra Ntubeni will take a final bow at the Cape Town Stadium on Saturday in the United Rugby Championship match against Connacht. In an indication of the affection in which he is held at the Stormers, the 35-year-old hooker has been given a “walk into the sunset” by coach John Dobson after 15-years with the team, although Ntubeni will be recalled from retirement if there is a sudden injury crisis at hooker in the last weeks of the URC. The Stormers will be emotional enough as they bid farewell to long-serving manager Chippie Solomon, who recently died, but they will also want to give Ntubeni a winning farewell. “It is going to be a very tough match," Ntubeni said. “We have done a lot of work on them,…

When a head coach chooses to overhaul virtually his entire backroom staff less than two months — and only one series — prior to a T20 World Cup, it is hard to believe that all is well within the team. The timing of Monday's removal of Baakier Abrahams (batting coach), Bongani Ndaba (fielding coach), and Zane Webster (strength and conditioning coach) from the Proteas Women’s set-up certainly came as a surprise. All three are highly professional and skilled in their respective fields, with Abrahams (Sunrisers Eastern Cape), Ndaba (Pretoria Capitals), and Webster (MI Cape Town) even being seconded to Betway SA20 men’s franchises during the women’s off-season. The trio played an integral role in the Proteas Women’s team reaching successive ICC T20 World Cup finals, while Webster was also part…