Inhaltsverzeichnis für 2025-03-26 in Cape Times

Significant drop highlights a grim outlook for consumers grappling with higher taxes and economic uncertainty Sentiment among shoppers in South Africa has plunged to its lowest point in nearly two years as consumers were shaken by the recent budget proposal to increase the value-added tax (VAT). The latest FNB/BER Consumer Confidence Index (CCI), released on Tuesday, revealed a steep decline to -20 for the first quarter of 2025, down from -6 in the previous quarter, marking a troubling trend as sentiment has now fallen for two consecutive quarters. This significant drop, the lowest recorded since the second quarter of 2023, highlighted a grim outlook for consumers grappling with higher taxes and economic uncertainty. The fieldwork for the first quarter CCI survey commenced only days after the Finance Minister Enoch Godongwana’s…

Statistics South Africa’s latest job growth figures, which showed a slower decline in the number of jobs lost in the formal sector, excluding the farming sector, is still uninspiring given the slow pace of economic growth, with key economic growth drivers losing ground. When compared with the September period, jobs lost in the formal economy, excluding farming, declined 0.1% quarter-on-quarter when compared to the September period. Statistics South Africa said that the reason behind the flat figures in the three months to December was due to gains in sectors such as trade, business services, transport, and electricity. However, the agency’s print noted that there were again declines in community services, as well as the key sectors of manufacturing, construction and mining. Year-on-year, job losses were more pronounced, with a 0.8%…

The South African Reserve Bank (SARB) interest rate easing cycle is nearing its end after it decided to keep the repo rate unchanged. This was the caution from Absa Corporate and Investment Banking (CIB) economics team on Tuesday as they presented their perspectives for the first quarter of 2025. The Sarb’s Monetary Policy Committee (MPC) last week decided to keep the repo rate on hold at 7.50% after cutting rates by a cumulative 75 basis points since September last year. This was in line with consensus and against market expectation of a 25 basis points cut. Absa chief economist Miyelani Maluleke said the PMC’s decision to hold interest rates implied the cutting cycle could be over. Maluleke said the MPC expressed concern about escalating trade tensions, geopolitical relationships that are…

South Africa’s energy crisis has long placed households and businesses under immense financial strain. Now, with the latest announcement in the 2025 National Budget Speech that government will be reducing Eskom’s bailout package, that burden is set to increase even further. While this decision may appear to signal a shift towards financial sustainability, the reality is that the costs are simply being offloaded onto consumers through rapidly escalating tariffs, higher fixed charges, the looming imposition of registration fees, and the removal of critical tax incentives. With no clear plan in sight to address the issue of energy affordability, South Africans must ask: How much more will they be expected to pay before real solutions are introduced? Rising tariffs and charges The Budget Speech emphasised the government's commitment to stabilising the…

Barloworld, whose shareholders recently voted against a takeover by Saudi Arabia’s Zahid Group, is trading well as Barloworld Mongolia’s strong performance is counteracting contractions in Equipment in Southern Africa and Vostochnaya Technica (VT) in Russia. And despite constrained trading conditions in Southern Africa, Ingrain significantly improved its operational results for the five months to September 28 following a turnaround plan that was instituted in the second quarter of the 2024 financial year, according to a trading statement Tuesday. The group results were nevertheless weighed down by the markedly lower activity levels at VT, as the business trades towards break-even at the profit level. In the first five months of the 2025 financial year, group revenue fell 4.9% to R14.8 billion. Group earnings before interest, tax, depreciation and amortisation (EBITDA) declined…

Finland, for the eighth year in a row, remains the happiest country in the world, while Afghanistan remains the unhappiest country according to the World Happiness Report 2025. The World Happiness Report (WHR) emphasises the importance of social connections and kindness in driving happiness. Africa’s Ubuntu philosophy, which highlights communal well-being and interconnectedness, offers invaluable lessons to Western societies grappling with rising loneliness and political polarisation. The University of Johannesburg (UJ) became the first African institution to host the launch of the WHR on World Happiness Day last week. The event marked the WHR’s 13th edition. The findings are powered by Gallup World Poll data and other sources, including the Lloyd’s Register Foundation World Risk Poll, and analysed by leading experts in well-being science. Gallup CEO, Jon Clifton, said: “Happiness…

Prudence Sekgodiso is aiming build on her rip-roarig success this season after making history by winning at the World Indoor Championship in Nanjing, China, on Sunday. Sekgodiso secured South Africa's first women's world indoor medal by triumphing in the 800m final, setting a world-leading and national record time of 1:58.40. Now, with a morale-boosting win in her pocket and immense talent overflowing, Sekgodiso has signalled her intent to carry forward the legacy of Caster Semenya. The 23-year-old has drawn inspiration from the two-time Olympic champion, embracing the challenges and expectations that come with setting a new benchmark in women’s middle-distance competition. Reflecting on her recent success, the Medingen Village-born athlete revealed that she was well prepared for the championships and had anticipated a strong performance — though the outcome exceeded…

After the glory of the relay silver medal at the Paris Olympics, it looks like that achievement has inspired South African athletes to greater heights this year following two medals at the world indoor championships last week. The men’s 4x100m relay team of Akani Simbine, Bayanda Walaza, Bradley Nkoana and Shaun Maswanganyi grabbed second place behind Canada on a memorable August night at the Stade de France. That was followed the next day by Jo-Ané van Dyk’s outstanding effort in the women’s javelin competition as she clinched a silver medal as well. But that was the only two medals from the athletics team, and the first podium finishes in a global event since the 2017 world championships in London. That’s right: the last time Mzansi could celebrate a world medal…

Retail group Pepkor plans to acquire hundreds of Retailability's Legit, Swagga, Style stores and the Boardsmans business as it gains further traction in its strategy to build market share in the adultwear market. Pepkor’s management, which did not disclose an explicit value of the transaction on Tuesday except to say that it is not less than R1.9 billion, has previously said they want to expand the group's market share in adultwear through organic and acquisitive growth strategies. The launch of the new Ayana womenswear brand in 32 stores at the end of February 2025, and the recent acquisition of Choice Clothing, are further examples of the group’s adultwear growth strategy. “These businesses are a natural fit for Pepkor Speciality and we are looking forward to integrating them and unlocking benefits…

The Citrus Growers of Southern Africa (CGA) have released a mixed outlook for citrus exports in 2025, highlighting expected increases in orange and grapefruit exports, while lemon exports are predicted to take a downturn. This nuanced forecast reflects a careful analysis of current agricultural conditions and market demands, as revealed by CGA chairman, Gerrit van der Merwe, during a recent industry briefing. Van der Merwe on Tuesday said that all available data projected exports that were in line with the five-year average, which means there will be sufficient fruit for global markets. "The outlook suggests no oversupply or undersupply. Overall, the quality of the fruit for 2025 looks to be excellent. The breakdown of various variety estimates indicates a balanced season ahead," he said. "The current prediction is that 32.9…

CEMENT producer PPC and renewable energy independent power producer (IPP) Yellow Door Energy, on Monday announced the signing of a landmark 24.5 MWp solar power purchase agreement (PPA). “The project operates under a solar wheeling arrangement, where YDE’s solar park in Leeudoringstad, North West Province, will deliver clean electricity to four PPC operations via the Eskom grid. These include, PPC Slurry in the North West Province, PPC Dwaalboom in Limpopo and PPC De Hoek and PPC Riebeek in the Western Cape. More than 20 000 solar panels will be installed, generating 57.5 million kilowatt-hours (kWh) of clean electricity in the first year of operation and offsetting 59 800 metric tons of carbon emissions,” YDE said. The project includes the installation of a 43 kilometre overhead electrical line to connect the…

Remgro lifted intrinsic net asset value per share by 10.3% for the six months to December 31, and its management says further work will be done to unlock shareholder value. The investment group, chaired by well-known South African businessman Johann Rupert, includes among its major interests, stakes in Mediclinic International, RCL Foods, FirstRand, Discovery, and Momentum Metropolitan. The interim dividend was raised by 20% to 96 cents. In the six months, intrinsic net asset value per share increased by 10.3% to R276.89 since June 30, 2024. Remgro’s share price gained 3.53% Tuesday morning on the JSE to R159.78, which brought the annual gain in the price to 34%. Despite this, the price still represents about a 42% discount to intrinsic net asset value. “Much work still needs to be done…

South32 said on Tuesday that it will defend its South African subsidiary, Hillside Alluminium, against a claim made by an Australian company that it improperly used intellectual property from an engineering and transport contractor to develop its own systems. Strang International, an Australian engineering contractor, has dragged South32 to the Federal Court of Australia, complaining that the diversified resources group and its South African subsidiary, Hillside Aluminium, stole intellectual property. According to Strang International, which was contracted to the international resource group, the documents and information were then unprocedurally used by South32 to develop a metal transportation system for Hillside Aluminium operations in South Africa. South32 on Tueday confirmed to Business Report that it will defend itself and its South African subsidiary against the claims. “South32 confirms that Strang International…

THE Presidency continues to play its cards close to the chest on plans to establish a special envoy to the US to explain the country’s position on land reform and other issues as tensions between Pretoria and Washington threaten to erase years of healthy diplomatic and trading relations. The US under current President Donald Trump has launched an attack on South Africa based on misinformation about the country’s land reform policies, resulting in America cutting aid funding to South Africa and offering Afrikaners the option of refugee status in the US. The situation was exacerbated by the expulsion of South African ambassador to the US, Ebrahim Rasool after making remarks during a webinar which associating the Trump administration with white supremacy. Fears are mounting that South Africa stands no chance…

An interview with parliament’s speaker resonated with many. The lady embodies a gracious presence, and having booted some errant MPs from the House, perhaps she will be a good candidate for the presidency when that time comes. For that position, she and perhaps Mcebisi Jonas outpace three most unsuitable politicians currently jockeying for favour: the current crown prince, a certain loquacious secretary-general, or the sonorous-voiced premier of Gauteng. We need positive, visionary leaders who, shrugging off irritating political mosquitoes, tackle major issues head-on and with aplomb. Such an issue is the country’s fuel supply, currently dominated by Middle Eastern producers whose prices plus shipping costs add to South Africans’ financial woes. Developments elsewhere – including in Namibia and Mozambique - underline the need for South Africa to establish whether viable…

New Warriors star Matthew de Villiers and Proteas Test international David Bedingham have an awful lot in common. Both are attacking right-handed batters. Both were Wynberg Boys’ High School prodigies. And both had to wait until their mid-20s for a first crack at the professional level despite dominating club cricket. “Yeah … Bedders’ story and mine are quite similar,” De Villiers, who is fresh off a maiden first-class double century, exclusively told Independent Media. “I’ve always - if we’re talking numbers wise - when I was 19 years old, I was the highest run scorer in the Western Province Premier League, and then sort of just continued to do well, and was always within the top three run scorers - averaging like 100 in the T20s in the club stuff…

SCORERS Benin0 South Africa(0) 2 Foster 55, Adams 84 Bafana Bafana and coach Hugo Broos seem to be a 'match made in heaven'. And that’s why they have every reason to believe they’ll reach the promised land – the FIFA World Cup 2026! Bafana secured a crucial 2-0 victory over Benin in their sixth World Cup qualifier at Stade Félix Houphouët Boigny, Ivory Coast, remaining top of Group C with 13 points, five ahead of the latter, who are tied on points with second-placed Rwanda. Broos needed to win this match at the neutral venue in Ivory Coast at all costs to keep their qualification campaign on track. The odds and past fortunes tipped them to do just that. After all, they had fond memories of this ground, having won…

President Donald Trump appeared to invent a new economic statecraft tactic this week by threatening what he dubbed “secondary tariffs” on countries that buy oil from Venezuela to choke off its oil trade with other nations. The threat, delivered via Truth Social post then confirmed in an executive order, said countries could face 25% tariffs on trade with the US if they purchase oil and gas from Venezuela, which is already under heavy US sanctions. The move was meant to pressure Venezuela for the “tens of thousands of high level, and other, criminals” that Trump said Venezuela has sent to the US. The novel approach adds to a growing list of tools that Trump has been eager to deploy as part of a push to use America’s economic clout as…

The climate emergency poses a huge threat to human rights. In order to address this emergency, a transition to an economy in harmony with the planet is an urgent necessity. As part of this transition, and for the energy transition to contribute to the realisation of the Sustainable Development Goals and human rights, the renewable energy sector must also be sustainable in itself. Recognising climate change as a human rights issue means that integrating human rights-based principles into climate change policies and projects may lead to more holistic, sustainable outcomes. The UN Human Rights Council stated in a resolution on climate change that “human rights obligations, standards and principles have the potential to inform and strengthen international, regional and national policymaking in the area of climate change, promoting policy coherence,…

The Joshlin Smith kidnapping trial took another dramatic turn yesterday as State witness Lourentia Lombaard reported feeling dizzy before court officials carried her out of the courtroom to be seen by medical personnel following a grueling cross-examination. Lombaard had earlier testified about her friendship with the missing girl’s mother, Racquel ‘Kelly’ Smith. Lombaard revealed that Smith suspected her of having an affair with her boyfriend, Jacquen ‘Boeta’ Appollis, which caused tension between them before Joshlin’s disappearance. Joshlin, 6, went missing from her Middelpos home in Saldanha Bay on February 19, 2024. Smith, Appollis, and their friend Steveno van Rhyn are now facing charges of kidnapping and human trafficking. Lombaard, initially arrested alongside them, turned State witness and claimed that Smith sold Joshlin to a sangoma for R20 000, promising her…

A global crackdown on SIM box fraud, led by Interpol under Operation Red Card, has resulted in over 40 arrests in South Africa and more than 1000 criminally-linked SIM cards seized. Operation Red Card was part of Interpol's African Joint Operation against Cybercrime (AFJOC) and brought together law enforcers from Benin, Côte d'Ivoire, Nigeria, Rwanda, South Africa, Togo and Zambia from November 2024 to February 2025. According to Interpol, the cases uncovered during the operation involved more than 5 000 victims with over 300 suspects arrested in total. Ahead of the operation, countries exchanged criminal intelligence on key targets. Across the seven participating countries, operation Red Card resulted in 306 arrests and the seizure of 1 842 devices. In South Africa 53 desktops and towers linked to a sophisticated SIM…

DEPUTY President and South African National Aids Council (Sanac) chairperson Paul Mashatile’s assurance of the government’s commitment to end tuberculosis (TB) remains an empty promise in the absence of detailed plans on where the state will get the funds to fill the gap left by America’s withdrawal from the US President's Emergency Plan for Aids Relief, or Pepfar. That programme accounted for 17% of funding crucial initiatives linked to HIV/ Aids and TB, and the sooner the government addresses the funding gap, the more its commitment to ending the disease becomes a reality. About 270 000 people in 2023 were diagnosed with TB. Of those, 56 000 lives were lost. That is 153 people every day. An estimated 58 000 people with TB were not diagnosed in the same year.…

Enjoyed the Stormers’ running-rugby festival last weekend? Well, assistant coach Rito Hlungwani says Cape fans can expect more of the same in Friday’s clash against Ulster in Belfast (9.35pm start). Despite having lost more games than they have won, the Stormers are somehow still in playoff contention to the United Rugby Championship. They are on 33 points from 13 matches, with six victories and seven defeats, which have put them in eighth position on a congested log that sees John Dobson’s team trailing fifth-placed Cardiff by just two points. The Stormers played some dazzling rugby in holding off the Scarlets 29-17 in Llanelli last Saturday, with André-Hugo Venter’s vital late try securing the bonus point. But now they need to back it up against a difficult Ulster outfit who are…

The 32-year-old sprinter added another milestone to his already impressive record, securing a bronze medal in the 60m dash at the World Indoor Championships in Nanjing, China, this past weekend. Simbine has been a blur on the track since he burst onto the scene more than a decade ago, and his attempt to take on a new challenge in an indoor facility has once again highlighted why he is currently the best South African sprinter. The 2024 Paris Olympics 4x100m relay silver medallist is quickly making a habit of winning medals at major championships after a series of finals where he narrowly missed out on podium places. The bronze medal win was his first individual medal at the World Championships, and after heading into the weekend with hopes of making…