Inhaltsverzeichnis für 2025-05-28 in Cape Times

Harmony’s acquisition of CSA Copper cements company’s diversification strategy Harmony Gold’s acquisition of the CSA Copper mine in Australia for R18.4 billion has cemented the company’s diversification strategy and foray into copper. Copper, deemed a future proofing mineral, has been the center of merger and acquisition activity among South African and global miners. Now, Harmony Gold, with its diverse footprint of gold in South Africa, is intensifying its exposure in copper. “The large brownfields projects being pursued by the group are all in copper, signifying Harmony Gold’s strategy to diversify away from gold. However, Harmony will predominantly remain a gold producer even after the slated developments are scheduled to come on-stream,” Robbie Proctor, an investment analyst at Anchor Capital, told Business Report on Tuesday. The company entered into a binding…

Cosatu has said the proposed One Stop Border Bill's silence on the uncontrolled explosion of illegal migration and exports flooding into South Africa threatens local jobs, businesses, value chains, and revenue needed to fund public services. This is as the federation also criticised the Department of Home Affairs' reneging on an agreement to table the Bill at Nedlac for engagement with social partners. In submissions to the Portfolio Committee on Home Affairs on the One Stop Border Bill on Tuesday, Cosatu, along with the Catholic Parliamentary Liaison Office, raised concerns about the rampant corruption at various border posts. Cosatu Parliamentary spokesperson Matthew Parks said administrative areas of concern included the silence on specific roles of the Border Management Agency (BMA), South African Revenue Service (Sars), the South African Police Service,…

Despite the controversial debates doing the rounds on the President Cyril Ramaphosa and US President Donald Trump meeting at the Oval Office, Ramaphosa and team deftly manoeuvred themselves and notched some wins in a very difficult mission. South Africa’s objective was a reset of the relations with the United States though the issue on the table was some “so-called genocide”. Obviously, the genocide accusation could be a red herring as there are underlying dynamics, which include Starlink, Russia and China, the BRICS fraternity and, without doubt, South Africa taking Israel, a key US ally, to the International Court of Justice. Getting back to the meeting, many had feared a repeat of Trump’s treatment of Ukraine’s Volodymyr Zelenskyy. There was no humiliation. After all, Ramaphosa had tactically included in his team…

The F20 Climate Solutions Forum convenes in Cape Town from May 27–28, 2025, when the urgency to mobilise climate finance has never been more pronounced and the climate crisis and the economic wars more than ever protracted Under the theme ‘Trust. Transition. Transformation: Building Relationships for Climate Solidarity’, the Forum was an opportunity to shape an agenda that accelerates the implementation of the Sustainable Development Goals (SDGs) and advances Africa’s priorities in the G20 dialogue, as a pre-cursor engagement complementing South Africa's G20 Presidency’s rallying call for "Solidarity, Equality, and Sustainability". South Africa, much like other emerging economies, faces a complex climate finance landscape, with much higher investment needed than what is currently available. High capital costs coupled with shifting global geopolitical priorities make attracting climate finance for large-scale climate…

Bidcorp, the global foodservice giant, in a trading update on Tuesday said constant currency headline earnings per share were up 10% for the period ending April 2025, showcasing resilience in a challenging economic landscape marked by subdued consumer spending and persistent inflationary pressures. The company reported a 10% year-to-date growth in constant currency trading profit, navigating near-zero food inflation and currency volatility that dented rand-translated results by 3.8%. The update highlighted a 10% increase in constant currency headline earnings per share (Heps), surpassing the record performance of the prior year. With more than 90% of operations outside South Africa, Bidcorp cited constant currency metrics as the true gauge of its performance. Revenues hit record levels, up 6.7% in constant currency from the stellar 2024 comparative, with organic growth at 4.6%…

More than two-fifths (42.4%) of households in South Africa were headed by women in 2024, Statistics South Africa’s (Stats SA) general household survey has revealed. This is amid the persistent gender pay gap and the rise in the unemployment rate in the country. According to the latest World Economic Forum’s Global Gender Gap Report, South African women are paid between 23% and 35% less than men. According to the survey, the situation was most common in rural areas, particularly in the Eastern Cape (48.8%) and KwaZulu-Natal (46.8%). Women-headed households were least common in Gauteng (37.3%). “Families and households are profoundly important to the developmental, emotional, and cognitive growth of children, and parents and/or caregivers can play a central role in the development of children,” said Stats SA. The report found…

Gift of the Givers has stepped in to assist after a series of devastating fires displaced more than 100 people across multiple informal settlements in Cape Town. Project coordinator Ali Sablay said the organisation responded to calls for urgent assistance from residents in KTC, Gugulethu, as well as in Eerste River and Belgravia. “In just one night, we received three reports of separate incidents where numerous homes were destroyed,” Sablay said. In KTC, Section 6, Gugulethu, approximately 36 informal homes were gutted, leaving close to 100 people displaced. According to Ward Councillor Suzanne Zumana, this is not the first fire to ravage the area. “Three months ago, another fire struck here. When I asked how the fire started, residents said they didn’t know. There is electricity in the section, so…

PRESIDENT Cyril Ramaphosa may have to think twice before including DA leader John Steenhuisen in official visits after his poor performance characterised by political posturing during the heated Oval Office meeting in the US last week. Ahead of his visit to the US as part of Ramaphosa’s delegation, Steenhuisen promised that the highest issues on his priority list would be securing trade relations between the US and SA, particularly in agriculture, to protect jobs, grow the economy and expand employment opportunities. “This delegation to Washington DC represents all South Africans, who have entrusted us to put the shared national interests, and desire for economic growth and job creation first, ahead of any party, or ideological positions. As a proud member of this GNU delegation, I will endeavour to ensure…

Novak Djokovic got his bid for a record-breaking 25th Grand Slam title off to a solid start on Tuesday, as the Serbian defeated Mackenzie McDonald 6–3, 6–3, 6–3 in the first round of the French Open. Fresh from claiming his 100th tour title in Geneva last weekend, Djokovic booked his place in the last 64 at Roland Garros with a comfortable straight-sets victory over the 98th-ranked American in under two hours. The only blemish for the 38-year-old sixth seed came when he failed to serve out the second set at 5–2, but he swiftly corrected the lapse by breaking McDonald to love in the following game. The three-time Roland Garros champion will next face the winner of the all-French clash between Corentin Moutet and Clément Tabur in the second round.…

The curtain is set to fall on Mandla Ncikazi’s brief but impactful tenure as interim coach of Orlando Pirates, as the team prepare to face Magesi in a Betway Premiership clash today evening (kick-off 7.30pm). Since taking charge following the departure of José Riveiro, Ncikazi has maintained an impressive unbeaten record in three matches. The team’s form suggests they could end their league campaign on a high with another win. Ncikazi will be fully aware of the threat posed by Magesi, who, under seasoned mentor Owen da Gama, have shown significant improvement during the second half of the Premiership season. For much of the campaign, Magesi were embroiled in a relegation battle, but a strong run — suffering just one defeat in their last five outings — has ensured their…

President Cyril Ramaphosa, speaking at the 2025 Sustainable Infrastructure Development Symposium South Africa (SIDSSA) in Cape Town, described infrastructure as the “flywheel” of economic growth and job creation. He outlined plans to leverage infrastructure to drive progress, reduce inequality, and position South Africa as an investment destination. “Infrastructure is fundamental to our country’s development,” Ramaphosa said, noting its role in boosting trade and reducing business costs, especially with the African Continental Free Trade Area’s 1.3 billion-person market. He highlighted the Construction Book 2024/2025 by Infrastructure South Africa (ISA), detailing 250 fully funded projects worth over R238 billion, a record for public investment in roads, energy, water, logistics, and social infrastructure. Public infrastructure spending is projected to exceed R1 trillion over the next three years, the fastest-growing budget item. However, financial…

Minister for Minerals and Petroleum Resources Gwede Mantashe said South Africa is initiating discussions with Zambia and Zimbabwe on the possibility of running the electricity transmission line from the Democratic Republic of Congo (DRC) under the Grand Inga project, through which 2 500 megawatts are envisaged for the country. Mantashe was responding to questions from members of the Portfolio Committee on Minerals and Petroleum Resources on Tuesday, who had asked about the status of the project and what the country was doing to harness regional collaboration following the decision to postpone participation in the project. "The Grand Inga project is not ours; it’s a DRC project, given to the Spanish and Chinese. We have a right to buy equity in it, which would have to be approved by the DRC.…

Efforts to boost tourism in South Africa have seen significant gains as the Minister of Home Affairs, Dr Leon Schreiber, on Tuesday announced, that through the Trusted Tour Operator Scheme (TTOS) digital platform, 11 144 tourists from China and India obtained digital visas through the scheme in three months. The department said that the volume of applications grew consistently from an average of 50 per day in March to 135 per day in April and to 210 per day in May thus far. "These are tourists who otherwise would not have come to South Africa, given the challenges previously experienced with obtaining visas for tour groups from China and India," the department stated. The latest research facilitated by Operation Vulindlela showed that one new job is created for every…

As the global energy sector races to meet net-zero commitments, utility-scale solar is undergoing a fundamental transformation. No longer defined by megawatt capacity alone, solar projects are now being evaluated on their ability to deliver dispatchable power, enhance grid stability, and provide critical ancillary services. Nowhere is this evolution more pronounced than in Africa, particularly South Africa, where the Just Energy Transition is accelerating the shift towards resilient, grid-integrated renewable energy. “Across the continent, and especially in South Africa, we’re seeing a strategic move away from variable-only generation,”Jaco Uys, SVP Projects Sub-Sahara Africa at Scatec said. “What matters now is whether a project can deliver clean energy consistently on demand day or night. This means thinking beyond solar panels, to fully integrated energy systems,” Uys said. South Africa’s Eskom-constrained grid…

Coronation Fund Managers, the independent majority black-owned asset management company, lifted its interim dividend by 8.1% to 200 cents a share for the six months to March 31 over the same time last year after 92% of its investment funds outperformed their benchmarks since inception. Revenue increased by 8% to R2.04 billion. Total assets under management (AUM) increased marginally to R676bn (September 30, 2024: R667bn), while average AUM increased by 9% to R677bn (March 31, 2024: R619bn). “We have delivered solid interim financial results under challenging circumstances. Our clients continue to benefit from our globally integrated research capability, active asset allocation and stock picking, as well as excellent client service,” chairperson Alexandra Watson and CEO Anton Pillay commented in the results statement. “Long-term outperformance in our South African portfolios remains…

The Government of National Unity’s (GNU) Clearing House Mechanism, established to resolve policy disagreements within the 10-member coalition, has been questioned over its effectiveness by the DA and Rise Mzantsi. Despite the mechanism’s efforts to address disputes, the DA has continued to raise issues separately, including its latest challenge to the Expropriation Act, specifically the issue of nil compensation. Recently, DA federal council chairperson Helen Zille described the GNU clearing house mechanism as a “waste of time,” stating that it does not work and “everyone acknowledges its ineffectiveness”. “What we need is a mechanism in the GNU to implement clauses 19 and 18 (in the terms of reference). We do not need to renegotiate the laws of the game or anything; what we need is mechanisms that implement the statement…

LOCAL Government MEC Anton Bredell’s decision to axe Knysna speaker Mncedisi Skosana, who is also an ANC councillor, may be a continuation of the DA’s attempts to destabilise the coalition-governed municipality, says the ANC. In what the opposition DA labels a “coalition of corruption”, the ANC governs Knysna along with the EFF, Patriotic Alliance and the Plaaslike Besorgde Inwoners (PBI). Bredell, also a senior DA member, said his decision emanated from findings into an investigation following complaints by interest groups who made “various allegations”. “It was held that (Skosana) failed to perform the functions of his office in good faith, honestly and in a transparent manner and that he failed to act in the best interest of the municipality and that he conducted himself in a manner that compromised the…

Women's rights activists and civil society organisations have reacted with outrage to yet another reported incident of gender-based violence and femicide (GBVF) following the killing of 30-year-old Olorato Mongale, whose body was found near Lombardy, north of Joburg. Reports indicate that the young woman, originally from the Free State, had gone on a date with her alleged killer, believed to be a man identified as John, who collected her on Sunday from a residential complex in Athol. Family spokesperson Criselda Kananda said Mongale had told her friends to search for her should she not send them a message revealing her whereabouts in an hour following her outing. “We are devastated by this tragic loss and we ask that you continue to keep her family in your prayers. Her friends began…

The journey to a possible rugby version of the Club World Cup got off to a shaky start last week. The Telegraph newspaper in London, who has previously reported on the progress of such a tournament, wrote last Friday that a 16-team event was set to be held at the end of the 2027-28 season. Those developments came out of talks in Cardiff ahead of the Challenge Cup and Champions Cup finals in Cardiff last weekend. Then the organisers, the EPCR (European Professional Club Rugby), sent out a belated media statement on Saturday, with the headline: “EPCR Chairman Dominic McKay confirms Rugby World Club Cup to launch in 2028, with support from all unions and both hemispheres.” McKay went on to add that the EPCR have been speaking about a…

Africa's economic output is expected to grow by 3.9% this year, the African Development Bank said in its annual African Economic Outlook report on Tuesday, quickening from last year's pace of 3.3%. However, this year's forecast, which covers economies of all its 54 member states, represents a 0.2 percentage points downgrade from the bank's initial forecast, the development lender said during its annual meeting in Ivory Coast, mainly due to the shocks caused by new trade tariffs imposed by the US. The bank, which is Africa's biggest development lender with $318 billion (R5.7 trillion) in capital, also cut its initial 2026 growth forecast by 0.4 percentage points to 4.0%, citing the same uncertainty from trade tariffs. "Since January 2025, the world has experienced additional shocks, exacerbating an already complex global…

The Conduct of Financial Institutions (COFI) Bill, soon to be submitted to Cabinet, is a critical opportunity to address arbitrary bank account closures in South Africa. These closures threaten economic stability, undermine fairness, and grant banks unchecked power to act as de facto regulators of public and private life. However, the Bill in its current form fails to adequately protect the right to bank. I urge parliamentarians to scrutinise this legislation and demand reforms that enshrine procedural fairness, as recommended by the Zondo Commission and grounded in the audi alteram partem principle. Cabinet must address these shortcomings by ensuring the COFI Bill incorporates robust protections, including the right to a fair hearing, as recommended by the Zondo Commission and supported by the audi alteram partem principle. The audi alteram partem…

Driven by bold policy reforms, improving Eskom performance and a surge in public and private renewable energy projects, South Africa's energy landscape is undergoing a dramatic turnaround, moving from crippling power shortages to a more resilient and diversified energy system The energy transition's rewards National Energy Month creates a moment to reflect on these gains, as well as other signs of progress. The energy transition has created thousands of jobs, and the Energy & Water Sector Education Training Authority (EWSETA) has thus far supported 3,657 unemployed learners with access to energy sector programmes. South Africa's energy crisis has primed the country to take advantage of global energy trends. One example is the growing affordability and capacity of battery energy storage system (BESS) solutions. These make it more feasible for industrial,…

Pepkor Holdings’ traditional retail businesses delivered a strong trading performance in the six months to March 31, expanding market share, and the group is optimistic about its second-half prospects. Pepkor reported 18.9% growth in normalised headline earnings a share to 84.3 cents for the period, driven by a consistent retail performance, good growth in fintech, and strict cost control. “Pepkor remains optimistic about the future despite a challenging macroeconomic environment in South Africa. The group anticipates downward-trending inflation, reduced load shedding, and the two-pot retirement system will provide some relief for consumers,” CEO Peter Erasmus said at the release of interim results on Tuesday. “Despite the subdued and competitive market, we continued to deliver excellent growth, and we’re confident our consistent performance and growth in FinTech will continue to underpin…

Datatec, the international information and communications technology (ICT) group, lifted its final dividend to 200 cents for the year ended February 28 versus 130 cents at the same time last year after solid profit improvements in its biggest subsidiaries. The dividend policy was being changed to a more shareholder-accommodative two times dividend cover ratio, versus three times cover previously, due to a management incentive plan in some of the divisions that has resulted in upstreaming of cash to the parent company in the form of returns on fixed return equity instruments, resulting in more cash at the parent company. "I am pleased to report a very strong operating and financial performance across all regions and metrics for the group," chief executive Jens Montanana said in the results. He said the…

COMMUNICATIONS and Digital Technologies Minister Solly Malatsi’s policy direction to ease broad-based economic empowerment (B-BBEE) regulations in the Information and Communications Technology (ICT) sector faces an uphill battle, with MPs from within and outside the coalition government expressing their strong objections yesterday. Malatsi was hauled before the Communications and Digital Technologies Portfolio Committee to explain his new policy directives aimed at easing B-BBEE requirements for licensing satellite services, including American billionaire Elon Musk’s Starlink. Malatsi reiterated his commitment to the principles of transformation in South Africa, stating that the new policy does not aim to create exceptions for specific companies or individuals. Malatsi, who highlighted the ongoing efforts to introduce an equity equivalent investment programme in the ICT sector, clarified that his department's work predates recent international developments, specifically…

Forestry, Fisheries and the Environment Minister Dr Dion George has directed the urgent removal of wrecked and abandoned vessels that pose significant risks to navigation, marine ecosystems, and the safety of coastal communities. In a statement yesterday, the department said George was taking steps to address longstanding environmental and safety complexities in South Africa’s proclaimed fishing harbors, including Gordons Bay, Lamberts Bay, Saldanha Bay, St Helena Bay, and Hout Bay. “For too long, these derelict vessels have been a blight on our harbors, endangering our marine environment and the safety of those who rely on these waters,” said George. “I am committed to reversing this legacy of neglect and ensuring our coastal infrastructure supports both environmental sustainability and economic prosperity.” Under the authority of the Wreck and Salvage Act 94…

Enzo Maresca is a man with a point to prove as he targets football history for Chelsea in Wednesday's Uefa Conference League final against Real Betis. Victory in the final round of their English Premier League match at Nottingham Forest on Sunday secured qualification for next season's Uefa Champions League. Now Maresca's thoughts turn to Wroclaw and the chance for Chelsea to become the first team to win all five of Uefa's major men's club competitions. The Blues have twice won the Champions League, Europa League, Super Cup and the defunct Cup Winners' Cup and can now complete the set if they overcome Betis in the final of Europe's newest competition in Poland. Maresca has had a rollercoaster first season in charge at Stamford Bridge after replacing Mauricio Pochettino. His…

Manchester United manager Rúben Amorim is running out of excuses as he braces for a rebuild he hopes will result in a squad capable of delivering the success he enjoyed playing with his preferred formation at Sporting CP. United have lurched from one disaster to the next under the Portuguese manager, who led them to a dismal 15th-place finish in the league. He even threatened to walk away if the United hierarchy wanted him to go, after the club lost last week’s Europa League final against Tottenham — and with it, the opportunity to sneak into the Champions League through the back door. He later backtracked. At his pre-match press conference on Saturday, Amorim insisted that this season's mistakes would not be repeated next term. “In this moment, I…