Indholdsfortegnelse for 2025-03-17 i Cape Times

Renergen’s share price rocketed 37.3% on the JSE on Friday after it said the long-awaited event of filling a container with liquid helium had taken place. The closing share price, however, was still below the R10.90 it traded at a year ago and well down from the R37.50 it traded at three years ago, before many shareholders appeared to become disaffected with the slow pace of development of South Africa’s first onshore liquid natural gas and helium production facility at Virginia, in the Free State, and the share price declined since then. The company drew significant retail shareholder interest when it first announced a big helium reserve on its site in October 2021, but there have been many delays in developing the gas exploitation and production facilities. On Friday, the…

Should Agoa collapse, South African products face a 3% tariff to enter the US market South African agricultural organisations have urged lawmakers to pivot towards establishing a robust bilateral engagement with the United States amid fears of the country losing its African Growth and Opportunity Act (Agoa) benefits. This comes on the back of hardening political relations between South Africa and the Trump administration, which has culminated in the expulsion of South Africa’s Ambassador to the US, Ebrahim Rasool, on Friday. Agoa provides eligible sub-Saharan African countries with duty-free access to the US market for more than 1 800 products, in addition to the more than 5 000 products that are eligible for duty-free access under the Generalized System of Preferences program. Agriculture, particularly citrus and wine, manufacturing, mining, automobile…

SA Corporate Real Estate, owner of industrial, retail, and residential properties in the major metropolitan areas of South Africa, lifted its distribution to 24.37 cents a share for the year to December 31, from 23.18 cents per share the year before. The distribution announcement and prospects for the new financial year saw the share price rise 3.19% to R2.91 on Friday. A year ago, the share traded at R2.46. The REIT’s distribution was at a payout ratio of 90% of distributable income. As at December 31, SA Corp’s portfolio consisted of 267 properties valued at R18 billion in South Africa and exposure to direct and listed property valued at R1.9bn in Zambia. Distributable income increased 5.1% to R680.9 million or 27.08 cents a share. Total net property income (NPI) came…

Government has now tabled the revised Budget proposals to Parliament. It is now up to Parliament to consider, amend and ultimately adopt a Budget that will allow the State toprovide public services that the poor and the economy depend upon. We need to avoid an outcome of extremes. Workers cannot afford a return to an austerity Budget that weakens public services and denies badly needed economic stimulus, nor can the working class survive further hardships. Government is the most important tool to uplift the poor, invest in working class communities’ futures and create the foundations for a thriving and inclusive economy. It is not merely aset of tables and growths for market analysts to ponder over whilst sipping cappuccino. The Budget must be guided by the fundamental challenges facing society,…

Creating an online dating profile can feel like writing a CV for your love life. A great dating bio strikes a balance between authenticity, humour, and intrigue. You want to showcase your best qualities, be authentic, and stand out from the sea of profiles. But with just a few sentences to make a lasting impression, how do you get it right? Here’s a guide to improve your online dating bio, along with some common mistakes to avoid. Let your personality shine through Instead of listing adjectives – “I’m funny, kind, and adventurous”– show your personality through specific details. For example, rather than saying: “I love to travel,” try: “My perfect weekend? Exploring a new city, getting lost in a bookshop, and finding the best hidden café for people-watching.” This paints…

THE decision to expel South Africa’s ambassador to the US, Ebrahim Rasool, points to the country’s potential expulsion from the African Growth and Opportunity Act (AGOA), which would be another blow to a country that is already grappling with a health crisis following the withdrawal of US aid for HIV related programs. Enacted about 25 years ago, AGOA grants eligible African countries duty-free access to the US market for certain goods and South Africa’s status is set to be reviewed later this year. International Relations expert, Siseko Maposa said: “While it is uncertain whether this move signals that the US is deeply contemplating a complete severance of relations with South Africa, President Ramaphosa's interest in transactional diplomacy with the US is evident. “The prevailing context indicates that the US is…

Arsenal manager Mikel Arteta praised his emergency centre-forward, Mikel Merino, for clinching another three Premier League points for the north Londoners on Sunday, when he scored the only goal in a 1-0 win over city rivals Chelsea. Merino, a midfielder by trade, showed the instincts of a seasoned striker when he glanced a header from Martin Odegaard up and over Robert Sanchez in the Chelsea goal, the ball dropping into the net at the far post. "The way he's approaching this is incredible," Arteta said. "He wants to understand everything. He wants to learn from it. He's very critical of himself all the time. And at the end, the reality is that he wins matches for us." Merino scored twice in a 2-0 win over Leicester City in February when…

Kaizer Chiefs suffered a 2-0 loss to relegation strugglers Richards Bay FC at King Zwelithini Stadium on Sunday. Amakhosi, now in eighth place, recorded their third loss in the last five games, with their hopes of finishing in the top three taking a huge blow. The Natal Rich Boyz boosted their chances of survival, moving three points away from the relegation zone into 11th place. Having weathered a storm in the first half, the hosts broke the deadlock just three minutes into the second half through defender Fezile Gcaba. The former Orlando Pirates defender leapt highest in a crowded box to guide home a Justice Figueiredo free-kick, silencing the sea of Chiefs supporters in yellow. The home side weren't done yet, and in the 73rd minute, they dealt a heavy…

OUTsurance Group’s Australian subsidiary, Youi, may face losses of $40 million (about R459m) arising from the still uncertain insurance outcomes of Cyclone Alfred making landfall on the Queensland coast on March 7. The main peril from this event is flooding, OUTsurance directors said on Friday at the release of results for the six months to December 31. The cyclone brought strong winds, heavy rainfall, and flooding, leading to widespread power outages, road closures, and property damage. Youi's reinsurance attachment point for its first two catastrophe events is $40m per event. “Estimating the loss from this event is currently highly uncertain, and it is expected a substantial portion of the loss will be covered by the Australian Reinsurance Pool Corporation (ARPC),” OUTsurance CEO Marthinus Visser said. “Should the net loss after…

Improving gross domestic product growth, interest rate cuts, and withdrawals from the two-pot savings system should support consumption and food sector volumes. The recovery in Food Producers’ margins and earnings will be aided by subdued commodity price inflation remains. However, food price inflation could start to increase in the first quarter of 2025 estimated (1Q25E), which would favour a shift towards food retailers, as they have historically re-rated in a rising food price inflation environment in anticipation of stronger relative earnings growth. Shoprite: Maintaining the pressure on competitors Shoprite’s RSA Supermarkets achieved 10.4% revenue growth without increasing promotional subsidies, despite a low inflationary period. This was done by leveraging its new loyalty partnerships and store growth. While like-for-like growth slowed to 5.4% in the first half of 2025 from 8%…

JSE equities and the Rand held their ground despite Trump and Budget 2025. The controversial “second” attempt to set a national budget by the Minister of Finance, Enoch Godongwana, last Wednesday did not run smoothly as members inside the Government of National Unity and other opposition parties disagreed over many points. The Minister had indicated that the loss in tax income (R28 billion) by only implementing a 0.5% hike in VAT this year will be made good by earning the same amount through bracket creep in personal income tax. The higher tax income burden was just shifted away from a higher VAT rate to consumers paying income tax. An almost double the inflation rate 7.8% increase in consolidated expenditure was allowed. This, against an expected gross domestic product (GDP) economic…

As the South African Reserve Bank (Sarb) Monetary Policy Committee (MPC) prepares to announce its interest rate decision this Thursday, experts are split on whether another cut was imminent. Following a series of reductions from September 2024 to January 2025, anticipation builds around the next announcement - with opinions ranging from optimism to caution. Benay Sager, executive head of DebtBusters, said they were expecting the interest rate to be cut by 25 basis points again this week. “This expectation is grounded in factors such as global petrol prices remaining stable, which provides a cushion for consumer finances,” Sager explained. However, he also emphasised the looming pressure consumers face with upcoming electricity price hikes expected in April and proposed value-added tax (VAT) increases that could further strain household budgets. “We believe…

The last time former accused Lourentia Lombaard says she saw missing Joshlin Smith was when Racquel ‘Kelly’ Smith got into a white VW Polo with her six-year-old daughter on February 19, 2024, around 2pm. Lombaard testified at the Western Cape High Court on Friday. She will continue her testimony today, after which the defence will cross-examine her. Additional witnesses, including one from outside the province, are expected to take the stand. On the morning of February 19, 2024, Joshlin was in the care of her mother’s boyfriend Jacquen ‘Boeta’ Appollis, and the couple’s friend Steveno ‘Steffie’ van Rhyn was present. Lombaard detailed how Smith asked her boyfriend to get Joshlin ready by the time she returned home later that Monday afternoon. Lombaard told the court that Smith had sold her…

The skies were pregnant, heavy with rain, in most parts of Johannesburg over the weekend, and when they delivered in spitting starts on Sunday afternoon, a star — Relebohile Mofokeng — was reborn! Mofokeng scored a brace as Orlando Pirates kept the Betway Premiership race alive after beating log leaders and defending champions Mamelodi Sundowns at FNB Stadium. The win means that Pirates are now 15 points behind the Brazilians and could trim the gap to just three points if they win their four games in hand when they are eventually rescheduled. This was a fierce battle that required both sides to be at their best, as the Yellow Nation and The Ghost came out in numbers to support the two best teams in the country. In the end, it…

Lando Norris kept his cool in a rain-hit and incident-packed season-opening Australian Grand Prix on Sunday to edge out world champion Max Verstappen, while Lewis Hamilton finished 10th on his Ferrari debut. The pole-sitting Briton took the chequered flag by less than a second ahead of the Dutchman, with Mercedes' George Russell securing third after a chaotic race in Melbourne that saw three drivers crash before the end of the first lap. With the safety car repeatedly deployed following a series of accidents on the wet Albert Park circuit, Norris held on to claim his fifth Grand Prix victory—and his second in a row after winning the final race of 2024 in Abu Dhabi. RB rookie Isack Hadjar, Alpine's Jack Doohan, and Williams' Carlos Sainz—last year's winner—all failed to complete…

In a recent Trade Conditions Survey released by the South African Chamber of Commerce and Industry (SACCI) on Thursday, evidence of improving trade conditions has emerged for February 2025. This marked the first significant signs of recovery since mid-2024, notably following the establishment of the Government of National Unity (GNU) in June 2024. SACCI detailed that, while 65% of respondents reported tight trade conditions in December 2024, and 60% experienced similar challenges in January, the figures have shifted positively in February. With only 54% still grappling with tough conditions, the survey suggests a reasonable easing has occurred, sparking optimism that the GNU's strategies aimed at enhancing economic performance are beginning to bear fruit. Despite this positive shift, the survey indicates a moderation in the outlook for the next six months.…

A customs tariff increase application on roasted groundnut imports classifiable under subheadings 2008.11.20 and 2008.11.90 from 0.99c/kg (0.033% ad valorem equivalent) to 20% was withdrawn by the South African Groundnuts Forum because they have closed their nut roasting business. The investigation was initiated on January 15, 2021 and lingered without a decision for 50 months (yes, seriously) with no decision. The application had been filed on February 24, 2020. It should take six months to complete an investigation. According to the International Trade Administration Commission (Itac), the applicant withdrew their application because “[of] a range of operational and other factors, including but not limited to the prolonged uncertainty surrounding the decision on the amendment of the customs duty. The applicant alleges that such uncertainty has affected the viability of their…

Hikers have been urged to research the trail they intend to hike, and ensure they have the means to navigate their intended route, after two German tourists were rescued from a perilous ledge on Table Mountain after losing their way. On Monday, the tourists, aged 23 and 24, set off on Table Mountain's popular India Venster trail, and about halfway up the trail, the pair missed a turn and continued on a path that forked off from the main trail and ended up on a dangerous ledge. According to the Mountain Club of SA - Search And Rescue, this offshoot path has seen an increasing amount of foot traffic over the past decade, and worryingly, it is also resulting in an increase in the number of hikers calling for help…

PARLIAMENT says a full investigation is underway to determine the source of a security breach affecting one of its 25 YouTube streaming services, and that additional safeguards are being put in place to strengthen the integrity of its digital infrastructure. Parliament at the weekend confirmed a security breach affecting one of its YouTube streaming services, which is integrated with its official social media accounts. “This breach resulted in the unauthorised upload of content not aligned with the work of the institution,” Parliament said in a statement. “Parliament’s digital team immediately intervened to terminate the compromised stream. While a full investigation is underway to determine the source of the breach, additional safeguards are being put in place to strengthen the integrity of our digital infrastructure.” Parliament’s multiple YouTube streaming services provide…

A fragmented and diametrically opposed national polity is a recipe for disaster FINANCE Minister Enoch Godongwana feigns either to be the “Mr Pragmatic” of South African politics or he wants to have his cake and eat it! When he presented his 2025 National Budget last Wednesday to Parliament, any semblance of policy pragmatism soon dissipated. The reality is that Godongwana is caught between a rock and a hard place – an economic and fiscal playbook that has plagued successive finance ministers going back to the Zuma years of state capture more than a decade ago. Whatever sliver of mitigation has long been compromised over the last three decades by the seemingly ideological fault lines within the ruling ANC coalition and its wanton inability (or as some would say its unwillingness)…

The Dolphins completed the ultimate fairytale comeback to claim the CSA 1-Day Cup in a tense, four-wicket victory over Boland in Paarl on Sunday. Quinton Friend’s team required a boardroom decision to go in their favour to sneak into the semi-final, after the Warriors were docked five points for failing to adhere to CSA’s transformation policies earlier in the competition. As a result, the Dolphins were awarded a home semi-final, and did not looked back since, winning five matches on the bounce to claim the coveted trophy. The visitors held their nerve in a tense chase to secure victory, with young Hanu Viljoen (35 not out) once again showing that he has ice running through his veins. The 23-year-old, who has been instrumental in getting the Dolphins to the final…

Bafana Bafana have been one of the best nations on the continent, having finished third in the last Africa Cup of Nations (Afcon) finals in Ivory Coast. That achievement was so significant that they are now not only expected to go all the way in the next edition but also to qualify for the World Cup. Bafana are in Group C for the group stage round, alongside Rwanda, Lesotho, Benin, Nigeria, and Zimbabwe. They have already made strides toward reaching the global showpiece, sitting in second place in the group with seven points — level with leaders Rwanda. Hugo Broos’ men could reinforce their ambitions of returning to the tournament in North America by winning their next two games: at home against Lesotho on Friday and away to Benin four…