Sommaire pour 2025-03-18 de Cape Times

A majority of South African financial analysts, business executives and representatives of the trade union movements are expecting the cost of living to remain contained within the 4.5% midpoint of between 3-6% target range this year. The Bureau for Economic Research (BER) said on Monday that expectations for South Africa’s headline consumer inflation in 2025 have been slightly adjusted from 4.5% to 4.3%. This revisitation comes even as annual inflation saw a minute uptick from 2.8% in October to 3.2% in January, indicating a level of cautious optimism against the backdrop of a lower reference rate. The recent Inflation Expectations Survey for the first quarter of 2025 was conducted among various stakeholders between 17 February and 6 March 2025 and the results were computed on 7 March 2025. BER’s senior…

Aviation industry leaders on Monday said changes being rung by Transport Minister Barbara Creecy at the Air Traffic Navigation Systems (ATNS) were akin to booting the stable door after the horses had bolted. The changes brought about at the ATNS included the recruitment of ATNS' high level staff poached by international airports, upgrading of communication, navigation and surveillance (CNS) systems, maintenance of instrument, flight procedures, prioritising and improving governance processes for safety accountability. In a briefing on upgrades to the ATNS widely seen to have put South Africa's airspace on high risk, Creecy said all the recommendations were being implemented in various stages of completion. "Since the commencement of this investigation, a number of other urgent interventions have been identified as critical for ATNS’s continued operations and we are beginning…

The latest findings from the Agbiz/IDC Agribusiness Confidence Index (ACI), released on Monday, reveal a notable surge in confidence among South African agribusinesses. The index jumped 11 points from the fourth quarter of 2024 to reach 70 in the first quarter of 2025, marking the third consecutive increase and the highest level since the end of 2021. This significant boost in confidence is primarily attributed to favourable weather patterns, particularly La Niña rains, which are set to enhance the agricultural season for 2024-25. Additional improvements in port efficiency, which bolstered exports last year, and progress in controlling animal diseases have also played pivotal roles in fostering this optimistic outlook. Within the ACI, 10 subindices paint a vivid picture of the sector's sentiments, with nine showing robust improvements in the first…

Rob Bergman's carrier-neutral vision for Africa's digital infrastructure arrives at a fascinating inflection point - when powerful contradictions in internet connectivity expansion are playing out across the continent and around the world. "People think of digital infrastructure as a buzzword," Bergman explained during our recent African Tech Roundup podcast conversation, "but there's dirt under your fingernails when you're building it." The Dutch investor, who heads investments at Unicorn Factory, has spent over a decade watching—and now actively shaping—how capital flows into Africa's internet infrastructure development. For context, Unicorn Factory operates as a family office and permanent capital vehicle founded by Edward Lawrence in 2021. Lawrence, who co-founded WorkOnline Communications in 2006, has established a presence in Africa's internet landscape through several ventures including Yafibr (formerly AIK Group) and Magic Space…

MTN’s management have been encouraged by trends that point to optimism about the pan-African telecoms group’s growth this year, in spite of some remaining near-term macroeconomic and geopolitical uncertainties, CEO Ralph Mupita said on Monday. The group, which serves 291 million subscribers in 16 markets and which Monday reported strong underlying operational performance in 2024 with a healthy balance sheet, has forecast a 370 cents dividend for 2025, up from the final dividend of 345 cents per share. Encouraging indicators included inflation that showed signs of abating in the second half of 2024, reduced forex volatility, particularly of the naira in Nigeria, as well as the tariff adjustments in that country that the group started to implement in February 2024. These prompted MTN Nigeria to reinstate its medium-term guidance. Anchor…

Let’s face it, life in South Africa has been challenging over the past few years. From skyrocketing food prices to load-shedding and the ever-increasing cost of living, it feels like we’re constantly swimming upstream. Older generations often get a lot of flack and shame. Sure, they had their flaws but let’s give credit where it’s due: they were masters of frugal living. Many of our parents, grandparents and great-grandparents grew up making do with far less than we have today. Out of necessity, they developed practical and sustainable habits. And now, as SA faces economic struggles, from rising food prices to stagnant salaries, their wisdom is more relevant than ever. From polony scares to surviving a pandemic, we’ve lived through some tough times. But maybe it’s time to take a…

STARVATION is the consequence expected as a result of the March 20 deadline to migrate from the South African Social Security Agency’s (Sassa) gold card to the Postbank black card, which authorities have confirmed will go ahead as planned despite having only reached 1.1 million, with 1.5 million people still outstanding. Sassa pays out 19 million grants, with 15% of the cohort paid by Postbank, which translates to 2.6 million that had to swap cards that were using the yellow gold card. At a briefing yesterday, Post Bank chief executive Nikki Mbengashe warned that social grant recipients, who fail to switch to the new card must not attempt to use the old card after the deadline, as it will not work at all. “We are at 46% of the total…

NOT disclosing all the material details when applying for a life insurance policy can have a dire effect, as a KwaZulu-Natal woman discovered after she lost out on R6 million as the beneficiary of her late mother’s policy, after it had emerged that the mother did not disclose all when she applied for the policy. Viantha Naidoo turned to the high court sitting in Durban after Discovery Life refused to pay the R6 million. The policy was taken by her mother, Sandra Naidoo, who died of natural causes. Upon the death of Sandra Naidoo, the plaintiff sought payment from Discovery in accordance with the contractual terms of the policy. However, Discovery notified her that the claim was rejected. According to Discovery, the contract was declared void because Sandra Naidoo misrepresented…

Justice has been served following the convictions of four men for the murders of law enforcement officers, Simtembile Nyangiwe and Jan Nieuwenhuys, who were shot and killed inside their marked vehicle in Samora Machel in 2019. The law enforcement officers were guarding a construction site in Sweet Homes when they were killed. Ndumiso Lutshetu, Ashwin Kennedy, Bongani Mvamveki, and Malibongwe Witbooi were recently convicted of murder, robbery, and the unlawful possession of firearms and ammunition in the Western Cape High Court. According to court papers, 21 cartridges were collected from the scene which was fired from a 9mm Parabellum calibre Glock model 19 semi-automatic pistol with the serial number erased. Court documents detail that on September 4, 2019, two law enforcement vehicles were posted to guard a construction site…

The Stormers could thrust three returning key players straight into the action on Saturday in Llanelli. Utility backs Damian Willemse, Sacha Feiberg-Mngomezulu, and Suleiman Hartzenberg are all back in action, with the Cape side taking on Scarlets in a critical match in the United Rugby Championship (URC). Dawie Snyman, backline coach of the Stormers, confirmed yesterday that the exciting trio will make the trip to Europe, and they are excited about their comebacks. All three were recently part of the first Springbok alignment camp. Willemse had a long-term groin injury picked up against the Glasgow Warriors at the start of the season. Feinberg-Mngomezulu recovered from some niggles, including a shoulder injury, while Hartzenberg's broken hand has healed sufficiently. About Feinberg-Mngomezulu, Snyman said they feel they've given the talented youngster enough…

When the Springboks head on their year-end tour to Europe in November, it’s clear that their toughest challenge will not come from Ireland but rather from France. The Irish, despite their recent successes, simply lack the necessary qualities at the moment to truly test the world-conquering Boks in a high-stakes match. That big test will come from the newly crowned Six Nations champions, who conquered Europe despite a big injury setback. Let’s be honest, Ireland’s so-called dominance is overrated. Yes, they have won Six Nations titles, but their crash out against France in what effectively was the title decider in this year’s tournament exposed their frailties again. They are not this all-conquering side they are made out to be by certain parts of the world. When it comes down to…

Sun International, the South African gaming and hospitality group, reported a better-than-expected financial performance for the year ended December 31, driven by significant growth in its online gaming division, Sunbet. Sun International CEO Anthony Leeming said: “Our omnichannel approach has helped the group navigate the evolving gaming environment and with our significant growth in Sunbet we continue to see growth in our gaming revenue.” The results, released on Monday, reflect a resilient omnichannel portfolio amid a challenging macroeconomic environment. Adjusted headline earnings per share (Heps) rose 13.5% to 531 cents, up from the previous year, translating to adjusted headline earnings of R1.3 billion, a 13% increase. The board declared a final gross cash dividend of 237c per share, up 16.7% from 2023, bringing the total dividend for the year to…

Farming associations across South Africa are celebrating optimistic forecasts from the Crop Estimates Committee (CEC), projecting the nation’s harvest at a significant 17.2 million tonnes, marking an 11% increase from the previous season. This upward trend is stirring hope among farmers who endured challenging conditions last year. The anticipated commercial maize crop is forecasted at 13 911 150 tons, representing an increase of 8.26%, or 1 061 150 tons, compared to last season’s yield of 12 850 000 tons. In addition, the CEC revised its estimate for sunflower seed—a staple in South African agriculture—indicating that 555 700 hectares have been planted, which is 5.05% (or 26 700 hectares) more than the previous year. The sunflower seed production forecast stands at 720 050 tons, showcasing a robust growth of 13.93%, or…

Consumer demand for accessible data is reshaping services and innovation in 2025. In quarter one 2024, one user consumed 411.4 terabytes, while MTN notes average contracted users now use 21.9 gigabytes monthly - up 44% since 2023. Statista reports internet usage in South Africa nears 80% of the population, with mobile devices holding 80% market share. This relentless demand for cost-effective data is pushing companies to adapt. Over the next 6-12 months, data and connectivity will evolve, driven by demand, innovation, personalisation, AI, and competition. Firms prioritising speed, automation, and cost optimisation will lead in 2025. Four trends will define the year: 1. Speed and Accessibility Around 75% of South Africans use social media, with 13 million spending over 20 hours weekly on platforms. Streaming services like Netflix and Showmax…

RFG Holdings, the packaged foods group with iconic brands such as Bull Brand, Pakco, Magpie and Rhodes Quality, posted a modest revenue uptick of 2.1% to R3.1 billion for the five months ended February 2025, a period marked by resilient domestic demand and bruising setbacks on the global stage. In a trading update, released on Monday ahead of its interim results due on May 21, RFG stated that its Regional segment turned the tide in its home market, with a 5.6% revenue rise, boosted by an 8.7% surge in volumes - a reversal from the 5.7% decline seen in the prior comparative period. Fresh foods led the charge, with ready meals and pies finding favour among South African shoppers. Long life categories like fruit juice, dry foods, and pulps…

Hulamin, which has put its Hulamin Containers business unit up for sale, said Monday that the benefits of a recovery in demand for its aluminium products have been constrained by operational challenges and rolled product volumes increased only 2% in 2024. The Pietermaritzburg-based mid-stream aluminium semi-fabricator said Monday that no dividend was declared after basic normalised headline earnings per share (NHEPS) fell by 45% to 42 cents from 77 cents. This figure excludes metal price lag and non-trading items. Hulamin Containers, considered non-core to operations following a review of all group investments in 2024, is a downstream business that produces standard and customised rigid foil containers for the catering sector and household use. Its current focus is on improving operational performance and cost competitiveness while regaining market share. “The anticipated…

SOUTH Africa suffered a R2.8 trillion loss from rotational load shedding in 2023 as the country experienced the highest and most intensified bouts of power cuts during then-chief executive Andre de Ruyter's term than any other year. However, the economy recovered in 2024 as the country experienced more than 300 consecutive days without load shedding as no power cuts materialised between April and December 2024. This was according to the Council for Scientific and Industrial Research (CSIR) in its utility-scale power generation statistics report covering January to December of 2024. The CSIR report also noted that the national average price of electricity increased by 12.74% this year to reach ~ c/kWh 195, which is much higher than the cost of the latest variable generation resources that ranged between c/kWh 50…

Police have arrested four more suspects in a R9.3 million land claim fraud investigation, bringing the total arrests to 12 in a case involving senior government officials who allegedly diverted funds meant for legitimate land claim beneficiaries. Directorate for Priority Crime Investigation (Hawks) spokesperson Warrant Officer Ndiphiwe Mhlakuvana said that a senior official from the East London Department of Rural Development and Land Affairs allegedly colluded with her relatives to approve fraudulent claims and submit them unlawfully in the department. The suspects reportedly tampered with land claim documents, replacing legitimate beneficiaries with their own relatives and even a domestic worker. "Hawks' investigation revealed a senior official reportedly unlawfully edited land claims, altering beneficiary banking details, then put those of her relatives and domestic worker, and made payments to relatives," Mhlakuvana…

The manager, George Lambrakis, had to spend two and a half hours in a crowded police cell before he was granted R1500 bail. He maintained throughout that the store sold prepackaged items of pap and chicken to the public and that they had thus not contravened the regulations at the time. Following his harrowing ordeal when he was arrested, cuffed and thrown into a police cell in front of his colleagues and customers, Lambrakis turned to the Gauteng High Court, Johannesburg to claim damages from the minister of police for what he deemed his unlawful arrest. The arrest took place during the outbreak of the Covid-19 pandemic in April 2020. The Minister of Cooperative Governance and Traditional Affairs at the time placed certain restrictions on the sale of certain items…

A dramatic incident unfolded at a fuel truck company in Hillcrest, Benoni, where two articulated trucks and one rigid truck caught fire following a welding operation that went dangerously awry, leading to a rapid response from local fire services. The Ekurhuleni Emergency Management Services arrived at the scene to find the main articulated trailer fully loaded with 40 000 litres of petrol, while an additional trailer contained another 15 000 litres. A rigid truck, which also caught fire, was similarly filled with 15 000 litres of petrol, heightening concerns about potential hazards. Notably, the second articulated truck's trailer was empty but remained perilous due to the risks of vapour explosion. “The fire was reportedly caused by welding works on one of the trucks, which sent out sparks that ignited…

South Africa’s major banks - Absa, FirstRand, Nedbank, and Standard Bank- posted a modest uptick in earnings for 2024 against a backdrop of formidable challenges, according to the latest PwC report released on Monday. Combined headline earnings climbed 5.9% from the 2023 financial year to R119 billion, a slowdown from the robust double-digit growth seen in prior years. For context, 2023 saw earnings soar 13.8% to R113.2bn. The return on equity (ROE) nudged down to 17.5% from 17.6% in FY23, while the credit loss ratio improved to 89 basis points (bps) from 102 bps, underscoring resilience amid choppy waters. However, the major banks’ combined headline earnings growth of 5.9% far surpassed South African and sub-Saharan economic growth. Underpinning earnings growth was the combination of resilient revenue growth across net interest…

The tide is turning against Tesla and SpaceX founder Elon Musk. Many who bought Tesla cars are now beginning to sell their beloved electric vehicle cars. Many are reacting due to their disagreement with the entrepreneur’s involvement and actions in the US government. The reaction is not just in America, but internationally. The Tesla boycott has also spread to Europe, where many people who once held a positive attitude towards Musk - the man behind the innovative companies that include Neuralink, SpaceX, X, and Tesla - now want nothing to do with his products. This negative reaction in some countries is even greater with Trump policies in the mix, such as Canada. US President Donald Trump has repeatedly suggested that Canada should become the 51st state of the United States.…

Coal producer Thungela Resources kicked off its 2024 results with a strong message from CEO July Ndlovu, who said, “Full-year export saleable production exceeded guidance in both South Africa and Australia. Notably, South African production grew for the first time in three years due to increased productivity and improved rail performance.” The market responded positively to the better-than-forecast results, with Thungela’s shares on the JSE climbing 6.36% to R114.64 by noon. The rally was spurred after a final dividend of R11 per share was declared, taking total dividend to R13 per share. The board has also approved a share buyback of up to R300 million. Total returned to shareholders, including share buybacks of R460 million, is 64% of adjusted operating free cash flow for 2024, the firm said. Greg Davies,…

For culinary enthusiasts and home cooks alike, roasting spices is an age-old technique that enhances flavours and elevates dishes. However, the line between perfectly roasted spices and a charred disaster is thin. Understanding the variation of this practice can transform ordinary meals into extraordinary sensual experiences. Why roast spices? Roasting spices unlocks their essential oils and deepens their flavour through the Maillard reaction, making them more aromatic and complex. This process also helps to remove any residual bitterness, allowing the natural sweetness of the spices to shine. When done correctly, roasted spices can add a rich backbone to numerous dishes, from curry and stews to baked goods and marinades. Choosing the right spices Not all spices benefit from roasting, and understanding which ones do can make all the difference. Whole…

By now you might have noticed that the mornings are cooler and the days have become shorter. The change in season can bring challenges for your skin and hair. But with a few adjustments to your beauty routine, you can embrace the season with glowing skin and healthy hair. Here are some essential beauty tips for autumn. Hydrate, hydrate, hydrate As the humidity drops, your skin loses moisture more quickly. Swop out lightweight summer moisturisers for richer, cream-based formulas that provide deep hydration. Look for ingredients like hyaluronic acid, glycerin, and ceramides, which help lock in moisture and repair the skin barrier. Exfoliate gently Exfoliation is key to removing dead skin cells and allowing your moisturisers to penetrate more effectively. However, avoid harsh scrubs that can strip your skin…

Ithala Bank has lodged an urgent application to the Pietermaritzburg High Court in a bid to access the frozen funds to pay staff salaries after the South African Reserve Banks's Prudential Authority (PA) in January suspended all activities on the bank's accounts. The matter was heard yesterday in the Pietermaritzburg division of the KZN High Court sitting in the Durban Labour Court, before Judge Muzi Ncube. The PA has argued that Ithala was legally and technically insolvent while the bank has approached the high court, in the interim, in an urgent bid to compel the PA's Repayment Administrator (RA) Johannes Kruger, to give it access it R863 million in frozen funds to pay staff. Kruger is seeking to overturn a November 2024 court ruling which said he overstepped in his…

Manchester United captain Bruno Fernandes said he has plenty of respect for the English Premier League club's former skipper Roy Keane but insists he wants to do things his own way after the Irishman criticised his work rate. Fernandes, who was named Player of the Match for his performance in United's 3-0 win at relegation-threatened Leicester City in the Premier League on Sunday, was criticised by Keane during an appearance on the Stick to Football podcast. The 30-year-old Portuguese midfielder has often been scrutinised for his on-field demeanour and has admitted in the past that his gesticulating and complaining can rile up both teammates and opponents. "I do things my own way," Fernandes told Sky Sports. "Obviously, it's not nice to hear those things about you, but at the same…

Western Province Women’s duo Faye Tunnicliffe and Dane van Niekerk have been overlooked after Cricket SA named their 15-player contracted list in the build-up to the ICC Women’s World Cup in India later this year. Fellow Province pair Lara Goodall and Delmi Tucker have also lost their national contracts after being part of last year’s group. Both players have struggled with injuries over the last 18 months, although Goodall made her international comeback during the ODI series against England at the end of last year. The left-hand top-order batter did not make full use of her opportunities with scores of 7, 31 and 17 in her three matches. Tucker, meanwhile, last played for the Proteas in the once-off Test against India last year in Chennai when she unfortunately bagged a…