Inhaltsverzeichnis für 2025-08-19 in Cape Times

The Minerals Council South Africa has raised concerns regarding the recently published Mineral Resources Development Bill, arguing it fails to foster an environment conducive to investment and job creation. The draft Mineral Resources Development Bill, published for public comment in May until 13 August, aims to transform South Africa's mining industry by strengthening regulations, promoting inclusive growth, and enhancing the legal governance of mineral exploitation. The Bill addresses various aspects of the mining sector, including artisanal and small-scale mining, transfer of mining rights, and empowerment requirements. However, concerns remain regarding the impact on agricultural land, investor confidence, and the potential for unintended consequences. Speaking during a media briefing on Monday, Minerals Council’s CEO Mzila Mthenjane emphasised that the bill, in its current form, cannot drive the necessary transformation and…

The Industrial Development Corporation (IDC) has denied reports that it has made an expression of interest to an identified strategic partner to take over operations of Goodyear tyres manufacturing plant in Kariega, Eastern Cape. This comes after the National Union of Metalworkers of South Africa (Numsa) on Monday announced that the IDC had made an offer to buy the plant as Goodyear was very upfront that it will not allow anybody to use their intellectual property to manufacture tyres. However, the IDC told Business Report that it acknowledged the challenges currently facing Goodyear in Kariega and was monitoring the situation as a key stakeholder in South Africa’s automotive sector. "At present, IDC has not made any formal or informal offer to purchase, finance, or partner with Goodyear. We note recent…

The Bureau for Economic Research (BER) has revealed that the South African Reserve Bank (Sarb) may no longer be pursuing an inflation target of below 4.5%, which could have substantial implications for the nation's economy. In a recent analysis, BER indicated a growing consensus among economists that the Sarb's focus has shifted away from the previous benchmark, suggesting a potential move towards a lower target of around 3% over time. This development follows a year in which South Africa encountered three national budgets, signalling a period of significant economic recalibration. While the Sarb's inflation target technically remains unchanged, BER remarked that it was evident the central bank was not committed to the 4.5% aim any longer. “The inflation target shift has big implications for the economy. Our (mid-July) baseline assumes…

The search for a perfect AI hardware is on and takes many forms. One of them comes in the form of eyewear products that are touted as the next outlet for rendering AI services. Tech companies have tried eyewear devices, however, they were lacking in style and game changing technology. This time around many have improved on the looks and technology. The Meta RayBan collaboration is one of the great examples of merging technology and fashion. It is packed with AI that features technology in ways we’ve not seen before. In June this year, Xiaomi officially entered the smart glasses market with the launch of its first AI-powered eyewear, positioning itself as a rival to Meta’s Ray-Ban collaboration. The glasses are powered by Xiaomi’s XiaoAI assistant, enabling users to…

South Africa's agricultural exports to the United States have shown significant growth in the second quarter of 2025, against a backdrop of imminent tariffs announced by President Trump. This surge in export figures has been celebrated by industry associations and government officials alike. According to Wandile Sihlobo, chief economist at the Agricultural Business Chamber of South Africa (Agbiz), South Africa's agricultural exports to the US amounted to $161 million (R2.8 billion), reflecting a robust 26% increase from the same period in 2024. "This is not a matter of base effects, but a better performance. And remember, this comes after another exciting quarter at the start of the year, when South Africa’s agricultural exports to the U.S. in the first quarter of 2025 were at $118m (R21bn), up 19% year-on-year," Sihlobo…

While social media is abuzz with posts dedicated to honouring the bonds that enrich our lives, beneath the surface of these joyful relationships lies a complex reality- one that can lead to profound heartbreak when friendships dissolve. The human psyche often bears the brunt of this grief, revealing startling truths about how our brains react when we lose a friend. And, according to recent research, the emotional aftermath of losing a friend can be as painful, if not more so, than ending a romantic relationship. Most of us are caught off guard, and the pain can run even deeper than any romantic split. Recent research and insights from neurologists like Dr Lisa M Shulman, author of Before and After Loss: A Neurologist’s Perspective on Loss, Grief, and Our Brain, reveal…

THE Competition Commission has hauled some of the country’s top banks to the apex court over allegations that they conspired with each other to manipulate the foreign exchange rate in respect of the US Dollar and the Rand. The commission turned to the Constitutional Court for leave to appeal the Competition Appeal Court (CAC) judgment handed down in January last year in which it upheld the appeal by the majority of the respondent banks accused of price-fixing. The Constitutional Court is due to hear legal arguments over four days, starting today. In June 2020, the Commission had referred the case regarding the alleged rand fixing against 28 local and foreign banks to the Competition Tribunal. The banks were ordered by the Tribunal in March 2023 to file their answering affidavits…

ECONOMIST Dr Séan Mfundza Muller has issued a stark warning about the growing power of South Africa’s ultra-wealthy, spotlighting Michiel le Roux, co-founder of Capitec Bank, and his alleged behind-the-scenes influence on media, politics, and civil society through strategic funding, raising questions about accountability, transparency, and the integrity of democratic institutions. Speaking on Ntsiki Mazwai’s Moya podcast, Muller said: “Another South African billionaire, who I think is very interesting, is Michiel le Roux, who is one of the people behind Capitec. Now, as far as I know — and I heard this both from a private source and then I also came across a public source of this information — Le Roux is behind a trust called the Millennium Trust.” Muller explained that, according to his research and private…

The parents of four-year-old 'Baby Nikita, who face charges of child abuse and murder, abandoned their bail bid in the Protea Magistrate’s Court yesterday. Baby Nikita was admitted to Chris Hani Baragwanath Hospital more than two weeks ago after she was beaten. The incident sent shockwaves through the Eldorado Park community. The child later died from her injuries. According to police, the man was arrested after officers responded to reports of screams coming from a backyard shack. Inside the home, police discovered the young girl with severe head injuries, bruises and a swollen eye. The matter has been postponed to October 9 for further investigation. Speaking outside court, the brother of the accused, who cannot be named to protect the child, said the family is still shaken by what has…

The Springboks are aware of their mistakes and determined to rectify them as quick as possible in the second Test against the Wallabies on Saturday in Cape Town. While they’ve identified key areas like the breakdown, defence and discipline where they must be better, they will have to do it without influential leader Siya Kolisi and fellow loose forward Pieter-Steph du Toit. The backrowers picked up injuries in the first Test at Ellis Park, one the Boks lost 38-22, and their grunt will be missed as the South Africans look to turn around their poor start to the Rugby Championship. Wingers Kurt-Lee Arendse and Edwill van der Merwe will also miss the Test with injuries. Kolisi looks set to be out for at least four weeks, while Du Toit misses…

Thungela has net cash holdings of R6.3 billion, and is in a position to pursue strategic investments Thungela Resources remains in a strong financial position despite an 80% plunge in interim profits for the period to end June, with its stronger balance helping it to continue with strategic investments after paying a R2 per share half-year dividend. Shares in Thungela were 2.74% weaker at R88.17 in afternoon trade on the JSE on Monday, extending the stock’s 6% and 5% fall in the past seven and 30 days, respectively. Headline earnings per share (HEPS) for the half-year period to June 30 fell by 80% to 192 cents on the back of lower coal prices on global markets, although its strong balance sheet brightened up future prospects. “Despite challenging markets, Thungela’s balance…

The phenomenon of directors serving on multiple boards, known as interlocking directorships, is one of governance’s most enduring features. Celebrated for connecting organisations to wider networks and knowledge, interlocks are also criticised for perpetuating power imbalances and governance failures. In truth, they are neither good nor bad. Their value depends on how they are governed. Boards face a central question: when do interlocks enrich governance, and when do they undermine it, if ever? In an era where scrutiny of boards has never been higher, interlocking directorships raise questions about fairness, inclusivity and accountability. Shareholders, regulators and the public increasingly want to know not only who sits on boards, but how many other commitments they carry and what networks shape their judgement. This is no longer a niche governance debate; it…

While payments may not literally make the world go round, the world certainly functions through the transfer of value for goods and services. As we all know, the world is on a one-way express train into a fully digital era. What was once a straightforward process - cash or card - has evolved into a complex, dynamic ecosystem with evolving technology, shifting consumer expectations, and global economic forces. This evolution isn’t happening for its own sake; it is driven by a simple truth: consumers want (more) choice, and merchants who fail to provide that choice risk being left behind. Anyone who is involved in the payments space, in any capacity, be that a retailer or a software partner, understands that today’s payments environment is no longer defined by a handful…

An Australian court fined Qantas Aus$90 million (US$59m) on Monday for illegally laying off 1 800 ground staff during the Covid-19 pandemic, ending a five-year legal battle over the workers' rights. Federal Court Justice Michael Lee said he wanted the penalty to be a "real deterrence" to firms that might be tempted by the financial rewards of breaching employment law. Qantas decided to sack the workers and outsource their jobs in August 2020, a period of lockdowns and border closures when no Covid-19 vaccine was widely available. Australia's Federal Court subsequently found that Qantas had acted illegally despite its stated "commercial imperatives" because it prevented staff from accessing their rights to collectively bargain or take industrial action. It later dismissed an appeal by the airline. Long-dubbed the "Spirit of Australia",…

Since we spend most of our days in a work environment, the office is about more than just meetings and deadlines. It’s also a place to connect with your co-workers. There will be times when you find yourself waiting for your food to warm up and the microwave to ding, and suddenly you have to make small talk with the guy from IT or awkwardly stand there in silence. While discussing the weather might be boring, it sure beats being dragged into HR for making Shavonne from accounting uncomfortable with tales of your sordid weekend affairs. We’re not saying that banter has to be stiff, but certain topics are a no-no if you want to keep things professional and avoid a trip to the big boss’s office. Here’s a list…

The Legal Practice Council (LPC) and its chief executive officer Charity Nzuza, who was accused of maladministration, have been cleared of any wrongdoing with the Legal Service Ombud finding no evidence to support the allegations. This was after the Legal Services Ombud established an inquiry following allegations levelled against Nzuza and Alida Janse Van Rensburg, director of the Northern Cape provincial office. The allegations included, among others, financial mismanagement, poor treatment of senior managers and unlawful instructions to alter candidates’ examination marks, as well as poor governance and a lack of transparency. The Ombud said the allegations were unsubstantiated and without merit. This was after a whistleblower lodged a complaint with the Legal Service Ombud and the LPC, which resolved that the Legal Services Ombud, as the oversight body for…

In opposing bail for one of the accused in the shocking matter of a toddler filmed smoking drugs, the State argued that the suspect had a previous conviction for being in possession of drugs, and granting bail would not be in the interest of justice. The accused, who faces attempted murder charges, appeared in the Johannesburg Magistrate’s Court yesterday. The suspect is one of four accused who also face charges of child abuse and attempted murder. This, after the group filmed a video of a toddler smoking drugs from a bottle neck. The video went viral, and the group was tracked down by community activists and subsequently arrested by police. The mother of the child and two other men abandoned their bail application. However, accused number two in the matter…

The US is becoming more open in its regime change tactics The pattern is well-worn. Regardless of the issue or the president in power, if a country refuses to toe the Washington line, accusations of human rights abuses become the weapon of choice. Cuba and Venezuela were targeted primarily because of their economic policies, which diverged from the model preferred by Washington. Iran and China were labelled for achieving successes that rivalled or surpassed Western capabilities. Now the target is South Africa. The offence is that the country dared to take Israel to the International Court of Justice and lay bare evidence of genocidal acts. When pressure failed to deter the government from this principled course, the United States released a plethora of destabilising interventions, the most recent being a…

After back-to-back Premiership defeats in the opening rounds, Orlando Pirates head coach Abdeslam Ouaddou sparked hope with a spirited performance against Mamelodi Sundowns in Saturday’s MTN8 semi-final at Orlando Stadium. As a result of the early-season struggles, the Moroccan has been under fire as fans demand that Pirates rekindle the spirit of success witnessed during the victorious tenure of fan favourite Spaniard Jose Riveiro. However, Pirates showcased an impressive performance against the formidable Sundowns on Saturday, signalling a potential turning point for Ouaddou and his squad. Pirates displayed resilience and tactical acumen, suggesting that the Moroccan’s approach may be beginning to take root. With a solid 2-0 victory against Polokwane City in the MTN8 quarter-finals, hopes were high for Ouaddou’s Pirates. Yet subsequent defeats against Sekhukhune United and Marumo Gallants…

Real Madrid coach Xabi Alonso said the team’s shortened pre-season will not be used as an excuse as they prepare to kick off their La Liga campaign at home to Osasuna today. Alonso will take charge at the Santiago Bernabéu for the first time after beginning his reign at the Club World Cup in the United States, where Madrid reached the semi-finals. Madrid’s request to postpone their league opener to a later date was rejected by Spanish football officials, and the team have played just one friendly since their 4-0 loss to Paris Saint-Germain in New Jersey on 9 July. “Obviously it would have been nice to receive some support with our request, especially for the players’ health… after such a long season and to have a little more preparation…

Absa Group’s frequent leadership changes over the past few years mean its business units and operations may be running on “auto-pilot,” and the bank’s strategy will be sharpened over the next two months, the bank’s CEO Kenny Fihla said on Monday. Speaking at the bank’s online interim results presentation, Fihla, who has been CEO since June 17, said there were a “whole range of initiatives” underway at the group, which gave him confidence that it would reach a return on equity (ROE) of 16% - although the ROE target for the 2026 financial year had not formally been set yet. However, he said these initiatives were designed to stabilise the group, and a “reset” was needed to “sharpen the focus” of the organisation. He said since he had become CEO,…

Months after cybercriminals broke into the Asian subsidiary of Christian Dior, Louis Vuitton announced on July 2 that their Korean database had been hacked, and sensitive files stolen. The incident is the third attack against LVMH, which owns Louis Vuitton and Christian Dior, in recent months. The LVMH-owned brands notified customers that unauthorized parties had accessed parts of their client database, revealing their contact details and shopping preferences. In both cases, impacted consumers in China and Korea were assured that bank information and credit card data were not stolen as part of the breach. Under General Data Protection Regulation (GDPR) and many other local cyber laws, companies must swiftly notify authorities and customers if data is compromised, and obey rigid requirements for how data is collected, stored, and used. Even…

MTN’s share price plunged over 9% on Monday, even though it reported growth in its first half topline, profitability, and free cash flows, which were largely boosted by a turnaround at subsidiary MTN Nigeria, and despite lagging sales in South Africa. A significant number of board changes were announced. The share price traded at R155.89 on Monday afternoon, a price still well above R90.28 a year ago. Sales at its South Africa unit, its home market, dropped 3.7% in the six months to June 30. Group adjusted headline earnings a share increased by 76.1% to 657 cents per share. Reported HEPS increased by 352% to 645 cents. No interim dividend was declared. The board said it has been evaluating their “Ambition 2025” strategy and, considering the evolving geopolitical, macroeconomic, and…

As we commemorate Women’s Month this August, it's essential to shed light on a pressing issue that affects millions of women in South Africa: heavy menstrual bleeding, known medically as menorrhagia. This condition is often shrouded in silence, overshadowed by stigma and a lack of awareness, leaving many women to navigate their monthly ordeal in isolation. What exactly is menorrhagia? Menorrhagia is more than just heavy bleeding; it's a chronic condition where menstrual blood loss exceeds what is considered normal. If you find yourself changing your pad or tampon every hour for several hours, experiencing periods that last longer than seven days, or passing blood clots the size of a quarter or larger multiple times a day, you might be dealing with menorrhagia. For many women, this condition transforms menstruation…

Trade, Industry, and Competition minister, Parks Tau, is set to lead a delegation to Mumbai and Delhi to strengthen trade relations and deepen economic ties between South Africa and India, while also exploring new markets. The visit, from August 25 to 29, is at the invitation of Indian Minister of Commerce and Industry, Shri Piyush Goyal. Tau is also scheduled to attend and speak at the 20th India-Africa Conclave. South Africa's economy is under severe pressure due to a 30% US tariff on its exports and existing domestic protectionism, stifling competition and this dual challenge puts jobs, economic growth, and investment at risk. Tau and the Minister of Agriculture John Steenhuisen recently indicated that they are exploring alternative trade partners to mitigate these impacts. According to the High Commissioner of…

The Advertising Regulatory Board (ARB) has instructed that Ster-Kinekor’s Morvies Club advertisement be amended so that it does not create the impression that the “Morvies Club” benefits apply without restrictions. This comes after ARB took a closer look at a complaint by a movie lover regarding Ster-Kinekor’s Morvies Club advertisement, which he said promised "bottomless movie tickets per month”, but this was not entirely true. The complainant said upon closer inspection, IMAX and Cinema Prestige experience, which includes 2D and 3D films, was excluded. The complaint alleged that the Morvies Club advertisement for subscription, which appears on the advertiser’s app and in the lobby to its theatres, is misleading. According to the complaint, apart from not disclosing that IMAX and Cinema Prestige formats are excluded, the booking interface does not…

“By far the greatest challenge that the basic education sector faces in our country is that we struggle to prioritise." In addressing delegates at the Western Cape G20 Provincial Education Indaba, Education MEC, David Maynier added: “We try to do everything, everywhere, all at once, in a blizzard of pilot projects that have very little or no impact. We need to prioritise and do fewer things, but do them well. It’s time to stop ‘pilotitis’." Maynier said that the WCED faces acute admissions pressure, with thousands of additional learners joining schools each year, but that as overwhelming as the pressures are, “we must not forget to recognise, and to celebrate, what is working and what is creating hope in our schools”. The Western Cape Education Indaba was held under the…

The Southern African Development Community (SADC) recently hosted its 45th Ordinary Summit of Heads of State and Government in Antananarivo, Madagascar. This year’s gathering was held under the theme: “Advancing Industrialisation, Agricultural Transformation, and Energy Transition for a Resilient SADC”. The Malagasy President Andriy Rajoelina assumed the rotational position of Chairperson from the Zimbabwean President Emmerson Mnangagwa, who has chaired the organisation since August 2024. Mnangagwa’s chairmanship faced its challenging moments, including the violence and instability in Mozambique following the holding of general elections in October 2024 and the ongoing conflict in the Democratic Republic of Congo (DRC). Both issues, which have far-reaching implications on regional stability, were not satisfactorily handled. According to the Human Rights Watch (HRW), about 300 protesters lost their lives and hundreds more were injured as…

Title challengers Liverpool, Manchester City and Arsenal all made winning starts but in contrasting fashion on the first weekend of the Premier League season. Defending champions Liverpool required late drama to beat Bournemouth 4-2 on an emotional night at Anfield, City cruised to a 4-0 win at Wolves, while Arsenal fought a rear guard action to hold on to a 1-0 victory at Manchester United A new-look Liverpool attack already appears an upgrade on the one that fired Arne Slot’s men to the title with four games to spare last season, but an array of attacking weapons has come at a cost. Hugo Ekitike scored and provided an assist for Cody Gakpo on his Premier League debut. But the Reds needed two late goals from Federico Chiesa and Mohamed Salah…

Australia won’t fear any retaliation from the Springboks as they head into the second Test of the Rugby Championship in Cape Town on Saturday afternoon. That was the guarantee from 22-year-old outside centre Joseph Sua’ali’i on Monday morning as the Aussies brace for a full-on onslaught from the world champions after their Ellis Park disaster this past weekend. The Wallabies opened the tournament with a resounding 38-22 victory and will come into the Test at the DHL Stadium as favourites to claim a back-to-back victory over the Boks for the first time in years. After trailing 22-0 at a stage in Johannesburg, they scored 38 unanswered points to complete a shock comeback win over their hosts. However, they are acutely aware of the Springboks’ ability to dig deep and put…

French striker Arnaud Kalimuendo has signed a five-year contract with Nottingham Forest, the Premier League club announced yesterday. According to French media, the transfer fee paid to former club Rennes is believed to be at least €30m (about R716m). “Nottingham Forest is delighted to announce the signing of Kalimuendo, who joins the club on a five-year deal,” read a statement on the English club’s website. The 23-year-old came through the ranks at Paris Saint-Germain, before enjoying a breakthrough season at Ligue 1 side Rennes last year, when he netted 18 times in 34 appearances in all competitions. Prior to joining Rennes in 2022, he made five appearances for PSG and enjoyed success during loan spells at Lens, scoring 21 goals in 65 outings. “When I heard about the interest from…