Sommaire pour 2025-02-17 de Cape Times

Product opportunities are still at scoping and prefeasibility stages, says SASA CEO Mhlaba The South African sugar industry has announced ambitious plans for product diversification, including plans for bioethanol petrol, sustainable aviation fuel, and electricity generation, in a bid to counter the challenges such as the sugar tax. This was announced by the South African Sugar Association (SASA) on Friday as part of the second phase of the Sugarcane Value Chain Masterplan 2030 to ensure the survival of 25 000 cane farmers nationally. Brian Tait, a consultant for SASA, said that product diversification was necessary, adding that sugarcane has many uses and product diversification will ensure the survival of the industry. “Extracting juice from the sugarcane gives the ability to produce bioethanol. Ethanol is a platform chemical for downstream products,…

South Africa’s economic landscape is bracing for a challenging fiscal period, with government revenue and expenditure gaps projected to stay above 4% of gross domestic product (GDP) for the 2025/26 financial year. This persistent discrepancy, as noted by Finance Minister Enoch Godongwana during the October 2024 Medium-Term Budget Policy Statement, may hinder the government's ability to stabilize its financial footing amidst rising debt levels. Nedbank economist Isaac Matshego anticipates that Godongwana will present a more optimistic economic outlook in the forthcoming budget speech, boosted by favourable weather conditions and an improved electricity supply. These factors, coupled with subdued inflation rates and reasonable global demand, create a conducive environment for economic growth. However, Matshego warns that significant downside risks linger, primarily due to the looming threat of an escalating trade war…

I will eat my hat if we get to the end of 2025 and SA still benefits from the African Growth and Opportunities Act (Agoa), the US legislation giving preferential access to the American market for most African states. Agoa is not a trade agreement and although valuable I believe the cost of the preferential access is beginning to outweigh the benefits. The decision our politicians need to make is if we are better of waiting for the axe to fall or whether we should choose the time and terms of our exit. I don’t believe grovelling before President Trump will accomplish anything. Trump seems determine to punish South Africa for things we mostly haven't done, but in a world untroubled by facts, this doesn’t seem to bother the First…

Workers and the nation await the pending 2025/26 Budget due to be tabled at Parliament by the Finance Minister, Enoch Godongwana. The working class has borne the brunt of our many painful socio-economic crises, from a dangerously high 41.9% unemployment to entrenched levels of poverty and inequality, endemic crime and corruption, a high and rising costs of living, struggling public and municipal services, and embattled State-Owned Enterprises. South Africa has been battling to attract domestic and foreign investment, a matter made worse with our grey listing. The current geopolitical tensions will exacerbate these. We have normalised these crises when they require decisive action to overcome them. While many factors are beyond our control, we must use the tools at our disposal. Our most important weapon is the Budget.…

Metair Investments said headline earnings from continuing operations are expected to fall between 0% and 20% as it continues to face challenging operating conditions in the automotive industry and the impact of geopolitical factors. In a trading statement for the year to December 31 released on Friday, the automotive component manufacturer and energy storage group said it expected headline earnings per share (HEPS) of between 78.56 cents and 98 cents. Total HEPS, which includes the Türkiye battery manufacturer Mutlu Group, which was disposed of in December due to the financial instability in that country, would amount to a headline loss per share of between 185.33 cents and 212.33 cents, compared with HEPS of 135 cents last year. Due to a debt restructuring and other corporate activities being undertaken, the full-year…

Who said the Kardashians have no talent? Oh right, all of us. But let’s give credit where it’s due – Kim Kardashian just proved that Kourtney Barker (formerly known as Kardashian) isn’t the only one in the family with comedic timing. In a newly released SKIMS advert, Kim K channels her inner fairy godmother, well, “Fairy Butt Mother” – now that’s a character I’d like to see in the next American Horror Stories franchise. The ad, which dropped last week, opens with a dramatic shot of Kardashian sporting a pair of glittery wings against a brown backdrop. The words “SKIMS Fairy Butt Mother” appear on screen, and honestly, that name kind of slaps. The scene then shifts to a woman sitting on a yoga mat, lamenting, “Why is everything so…

OFFICIALS have reassured residents of Hammanskraal, north of Pretoria, that water in the area is safe to drink, following reports of poor water quality. An urgent meeting was convened by the Deputy Minister of Water and Sanitation David Mahlobo, Executive Mayor of City of Tshwane, Nasiphi Moya, and Magalies Water to clarify the situation regarding a water supply interruption that led to temporary turbidity in the drinking water in Hammanskraal. They confirmed that the water is now safe to drink. It was agreed that officials from the City and Magalies Water would meet weekly to ensure proper coordination and clear communication to the public regarding any water supply disruptions. The officials said Magalies Water experienced a power failure at its Klipdrift Water Treatment Works earlier this month. This was due…

As South Africans await the forthcoming budget speech from Finance Minister Enoch Godongwana, civil society groups are voicing urgent appeals for increased support for grant recipients amid ongoing economic challenges. Despite recent increases in the Social Relief of Distress (SRD) grant and other social grants, organisations highlight that many of the nation’s most impoverished continue to grapple with severe financial hardships. Siyanda Baduza, a researcher with the Basic Income Project at the Institute for Economic Justice (IEJ), acknowledged President Cyril Ramaphosa’s reaffirmation of the state’s commitment to the SRD grant during his recent State of the Nation Address (SONA). “The president recognised the crucial role social assistance plays in alleviating poverty and reiterated the government’s position that the SRD grant should form the foundation for a broader income support system,”…

One of the robbers terrorising cyclists who use the Woodstock bridge to get in and out of Cape Town met his match on Saturday morning when his target happened to be a police officer. SAPS spokesperson Andrè Traut said that Lt Col Johan Pentz, who is an avid cyclist, conducted an operation with the Woodstock Crime Prevention Unit, and patrolled the notorious route along the Lower Church Street bridge on his bicycle. Pentz did this to gain first-hand information about the robberies, while his backup team was in the vicinity. “While crossing the Woodstock Bridge, Lt Col Pentz was attacked by a suspect who managed to grab his cellular telephone pouch, which was in his back pocket, and flee on foot. He was pursued by Lt Col Pentz and apprehended…

The ICC Champions Trophy starts on Wednesday, and the Proteas will get a shot at yet another ICC event when they kick off their tournament against the ever-improving Afghanistan later this week. In preparation, the Proteas took on Pakistan and New Zealand in a triangular series, with the Black Caps emerging victorious in the final against hosts Pakistan last week. A large part of Rob Walter's squad was made up of players outside the selected tournament squad, as many of the players were involved in the recently concluded SA20 competition. The series did, however, give the Proteas coach an opportunity to try out a few new faces as the 2027 World Cup is inching closer. South Africa has a painful history with ICC events, and the start of every tournament…

MAMELODI SUNDOWNS (2) 2 Matthews 8; Aubaas 27 MPHENI HOME DEFENDERS 0 IT WAS NOT the massacre it promised to be as Sundowns’ flying start to this Nedbank round of 16 clash with the lower division outfit fizzled into somewhat of a grind. Tashreeq Matthews opened the scoring on eight minutes with a cheeky back-heel after being set up by Arthur Sales to give rise to hopes of a score similar to the 24-0 hammering they handed to Powerlines FC a few years ago. Earlier on, Sales had missed a sitter on three minutes, the Brazilian scuffing the ball wide with just the goalkeeper to beat. Given the ease with which they carved the Limpopo outfit open, you’d have thought the country’s best team was going to make it rain…

As South African small and medium-sized enterprises (SMEs) grapple with an escalating financial storm, a recent report from Vantage Advisory revealed a grim reality: 49% of SMEs are burdened with debt levels far beyond their repayment capabilities. This dire situation is compounded by issues of cash flow, with 24% of SMEs reporting significant struggles over the past year. Luncedo Mtwentwe, managing director of Vantage Advisory, elaborated on the findings from the 2024 State of Small Business Report by Xero. “Over 72% of our SMEs are resorting to personal savings just to survive. The statistics are alarming. Many businesses are unable to pay their employees or suppliers on time, a clear indication of their financial distress,” Mtwentwe said. He also highlighted the urgent need for SMEs to reassess their debt management…

Gross domestic product (GDP) growth is a critical barometer of a nation’s economic health, reflecting the overall vitality of economic activity. When GDP expands, businesses see a rise in demand, consumer spending increases, and production ramps up. This growth creates a greater need for capital, which banks supply through loans and other financial products. In turn, banks benefit from this expansion as it leads to more transactions, investments, and an increased demand for financial services—ranging from working capital to infrastructure funding and individual lending. In a growing economy, the banking sector plays a pivotal role in sustaining and promoting that growth. By facilitating the flow of capital, enabling investments, and supporting business expansion, banks serve as intermediaries between savers and borrowers. The health of the banking industry not only reflects…

America may want South Africa to follow its lead and drive on its side of the road, but it is crucial for South Africa, and Africa as a whole, to chart its own course without yielding to pressure or intimidation. US President Donald Trump has been issuing executive orders since he assumed office. These are quite consequential. Amongst these are the closure of USAID. He has not run out of ink, nor has he run out of targets as he furthers America’s agenda. However, South Africa is suffering the consequences of being singled out as it sits between the tug of war of the West and BRICS alliances. “South Africa is doing bad things,” he has argued, and South Africa consequently became the target of his ink and paper. Trump…

The majority shareholding in Anglo American Platinum has shifted under a related party transaction for administrative purposes, with the deal now awaiting approvals from the Takeover Regulation Panel. Anglo American Platinum (Amplats) said on Friday that Anglo American South Africa has reduced its shareholding in the company from 66.7% to 0% ahead of Anglo American’s demerger of the platinum group metals (PGM) unit. Anglo American International is the new majority shareholder in Amplats. The transaction is part of an internal re-organisation exercise being undertaken by Anglo American. “Anglo American South Africa Proprietary Limited, a wholly-owned subsidiary of Anglo American, has notified the company that it has disposed of its entire 66.7% beneficial interest in the securities of the company to Anglo American International Limited, which is also a wholly owned…

Aveng, the international engineering and Africa mining contractor group, said on Friday it expects to report a loss per share of between A$25.3 cents and A$25.4 cents for the six months to December 31. A headline loss per share of between A$26 cents and A$27 cents is likely, compared with earnings per share of A$0.6 cents and headline earnings per share of A$8.8 cents in the prior period, the group said in a trading statement. The group, which operates the McConnell Dowell infrastructure construction engineering group and the Moolmans mining contractor services company, said the New Zealand & Pacific Islands business unit continues to deliver a strong performance. The Australia and South-east Asia business units had underperformed on certain projects awarded prior to the COVID-19 period. The majority of these…

Aspiring chefs around the world dream of recognition from the prestigious Michelin Guide, a hallmark of excellence in the culinary arts. This year, South Africa can proudly boast yet another culinary gem as Ash Valenzuela-Heeger has been awarded the esteemed Michelin Guide’s Young Chef Award for 2025, a testament to her culinary prowess at her Birmingham-based restaurant, Riverine Rabbit. Recognised for her exceptional talent and creativity, Valenzuela-Heeger’s innovative approach to cooking has captivated Michelin inspectors, who diligently evaluate consistency, quality, technique, and the chef’s expression through their culinary creations. Understanding the accuracy of the Michelin evaluation process, it is evident that the Young Chef Award extends beyond mere technical skill. The accolade celebrates leadership, creativity, and innovation, all while upholding the highest standards in the kitchen. Since its debut, Riverine…

The Portfolio Committee on Mineral and Petroleum Resources has been criticised for its silence about the alleged violation of human rights which resulted in the deaths of more than 80 illegal miners at the Buffelsfontein Gold Mine near Stilfontein. In a letter dated February 14, Civil society organisations Mining Affected Communities United in Action (Macua) and Women Affected by Mining United in Action (Wamua) said it was ‘well-documented that at least 89 artisanal miners perished due to state-enforced starvation and violent repression’. The organisations said the police, under government instruction, deliberately sealed off access to food, water and medical aid while preventing any lawful exit from the mine shafts. The organisations said despite the gravity of these events, the committee remained silent, adding that the absence of parliamentary oversight, condemnation,…

In handing down his sentence, Johannesburg Magistrates Court Magistrate Tshepo Twala said Alexi Bizos had shown no remorse for his crime and failed to acknowledge the wrongfulness of his actions. Bizos, the son of the late struggle stalwart George Bizos, assaulted his now former wife more than nine years ago at their home leaving her with severe injuries, including six broken ribs. He was on Friday sentenced to a R100 000 fine or one year imprisonment, as well as to six months correctional supervision, which includes 20 hours a month of community service at shelters for abused women. AfriForum’s private prosecuting unit, which represented Bizos’ ex-wife, Monique van Oosterhout, welcomed the sentence and said it sends out a strong message to perpetrators of gender-based violence. Years after punching Van Oosterhout…

Minister of Higher Education and Training, Dr Nobuhle Nkabane has assured newly installed UWC Rector and Vice-Chancellor Professor Robert Balfour that he has her full support. Balfour was inaugurated on Saturday. The Chairperson of the UWC Council, Xoliswa Mpongshe, UWC SRC President McIntosh Khasembe, and the board of Universities South Africa (USAF), Prof Francis Petersen, also conveyed messages of support. Guests at the inauguration included former Minister of International Relations Dr Naledi Pandor and Cape Town Deputy Mayor Eddie Andrews. Nkabane reflected on the rich social and academic history in the DNA of UWC. “UWC holds a special place in the hearts and the minds of many South Africans having played a prominent role in the history of the country particularly in the struggle against apartheid,” Nkabane said. In…

The Stormers' next three games away from home will likely determine their survival in the United Rugby Championship (URC). After going down 30-23 to a rampant attacking Lions at Ellis Park on Saturday, the return North vs South derby against the Bulls on 1 March at Loftus Versfeld becomes crucial to win. While they are still within reach of the playoffs, the losing streak they are currently on does not spell well for their ambitions of breaking into the top eight of the tournament. After the clash with the Bulls in two weeks, they travel to Scarlets in Wales (21 March) and Ulster in Ireland (28 March) for their final touring campaign matches. “Not winning against the Lions puts us in a position where we must win two of the…

Transnet Port Terminals (TPT), which was dubbed by the World Bank amongst worst performing port operators in the world last year, has refuted the moniker with far improved vessels turnaround times and with original equipment manufacturers on speed dial. In an interview with Business Report last week, CEO Jabu Mdaki said TPT was receiving essential new equipment ahead of schedule as it sets for further developments from a R4 billion capex a year over the next four years. “We do believe that the improvements are showing. The fact that shipping lines are no longer facing delays is talking to the improvements that the shipping lines themselves are experiencing. “So, our expectation is that this should be reflected in whatever index or indices that the World Bank is producing but certainly,…

The Steinhoff implosion, an accounting scandal at Tongaat Hulett, and dodgy financials at Enron are all examples of corporate fraud that were laid bare through sources that put key information into the public domain. The latest development in the Steinhoff matter came on Friday, when two additional executives, Hein Odendal and Iwan Schelbert, handed themselves over to police as part of an ongoing investigation into fraud at the company by the Hawks. The two, who were charged with several contraventions of legislation, were released on bail of R150 000 at the Pretoria Specialised Commercial Crimes Court. Odendal, Schelbert, and another accused, the company’s former legal head, Stephanus Grobler, will appear in court again on May 30. The alleged mastermind behind the fraud, the then CEO and now deceased and disgraced,…

Last week, much of the discussion in South Africa, both in the media and private conversations, revolved around the actions of the Trump administration against the country. Concerns centred on the potential non-renewal of the African Growth and Opportunity Act (Agoa) privileges in September, the US boycott of the G20 summit in South Africa later this year, and the imposition of additional tariffs beyond the existing 25% duty on imported steel. Economists and analysts have begun assessing the potential impact of these measures on South Africa’s economy, including possible job losses, a significant depreciation of the rand, the risk of a recession, and the withdrawal of billions in foreign investment and portfolio capital. However, estimates suggest that losing Agoa benefits would have a relatively minor impact, with GDP expected to…

Nampak Zimbabwe is grappling with a challenging operating environment, compelling the company to implement cost-containment measures as it prepares to divest its stake to Zimbabwe-listed entity TSL. This move comes as Zimbabwe's economic landscape faces significant challenges exacerbated by recent policy changes and ongoing currency instability. John Van Gend, Nampak Zimbabwe’s managing director, said on Friday that “the operating environment in Zimbabwe is undeniably complex, impacted by policy changes and currency” instability. Zimbabwe has just made currency policy changes that are likely to impact timeous reporting by companies. While the paper and packaging giant said it had transitioned to US dollar financial reporting, the Reserve Bank of Zimbabwe has directed that all companies use the local currency for all company reporting. Van Gend said he expected that the government of…

When the numbers are drawn and the life-changing jackpot is revealed, one might assume that the joyous news of a lottery win would ripple through families and social circles, sparking celebrations and dreams of wealth. Yet, a surprising number of lotto winners opt to keep their fortune a secret from close family and friends. This intriguing phenomenon raises the question: why would someone choose to keep such a monumental event under wraps? In a world driven by social media interactions and open discussions about finances, the reluctance to share winnings seems absurd. Users on platforms like Reddit have recently shared their personal stories, revealing the tangled emotions that often accompany sudden wealth. One user, going by the name TooGiftid, disclosed her experience after winning a staggering $2 million in the…

A company which was taken to task for paying its workers in terms of the “piece work” system - where they were paid according to how much work they completed - tried in vain to have an order suspended in which they were forced to pay these workers the legal wage. In one instance, a female worker, who had worked an entire month, only took home R500 as a salary. Most of these women workers are the sole breadwinners. Crown Household, a Germiston-based company that manufactures and packages wire pot scourers, was earlier told by the CCMA that its “piece work” system was unlawful. The CCMA ordered the employer to pay the workers the money that they were owed in terms of the national minimum wage. The payment of the…

Stellenbosch's recent enterprising Nedbank Cup performance over Polokwane City augurs well for Tuesday's Premiership clash against giant-killers TS Galaxy at Mbombela Stadium in Mpumalanga. After losing 1-0 to Kaizer Chiefs last week, Stellenbosch needed to raise the level of performance and play with greater intensity and cohesion. They managed this in great style against Polokwane, and their impressive performance created a glut of goalscoring opportunities. Stellenbosch coach Steve Barker will target an improved performance from his marksmen who need to do better in the striking zone. "We need to concentrate on finishing (goalscoring opportunities) this season. I think that will be our main objective. “We have two quarter-finals to look forward to and try and push for that top three or four position in the Premiership." Just over a week…

Premier League leaders Liverpool extended their advantage to seven points with a trickier-than-expected 2-1 win over lowly Wolverhampton Wanderers at Anfield on Sunday courtesy of goals from Luis Diaz and Mohamed Salah. Arne Slot's team had looked to be cruising at 2-0 after Diaz bundled in on 15 minutes and won a penalty later in the half for strike partner Salah to convert with ease – a 23rd league goal for the league's leading marksman. But Wolves, fighting for their lives near the bottom, gave them a few frights and punished Liverpool for a sloppy second half when Matheus Cunha curled a low shot brilliantly past Alisson in the 67th minute. In an edgy finale, Liverpool held on for the win, taking them to 60 points and still on track…

The Sharks ran the Bulls ragged in their shock 29-19 triumph in Saturday night’s United Rugby Championship derby. It may have been a case of John Plumtree using the tools at his disposal against the high-riding Bulls. The Sharks were shorn of most of their Springbok stars, and knew they did not have the fire-power to take on the Bulls up front (few teams do). So, they turned to the one thing they do have in abundance: pace and fire-power on attack. In the face of the expected Bulls forward onslaught, it proved the difference. Even Bulls coach Jake White complemented the Sharks for the way they used their strike-runners: the likes of Jordan Hendrikse, Lukhanyo Am, Ethan Hooker and Jurenzo Julius. “They’ve got like sevens rugby players at…