Índex per 2025-05-09 a Cape Times

Renewable energy sector project in limbo due to President Trump’s Executive Orders The establishment of the Energy One Stop Shop (EOSS) project, an initiative aimed at revolutionising South Africa’s renewable energy sector, is currently in limbo due to a significant funding shortfall. Yunus Hoosen, head of Invest South Africa (InvestSA), disclosed to Parliament’s Portfolio Committee on Trade and Industry on Wednesday that the project was seeking an additional R60 million to continue its rollout across all provinces. The setback follows the withdrawal of funding from the United States under former President Donald Trump’s Executive Orders. "We have done the functional specs. We have been funded by donor agencies. We lost a little bit of funding from the US but we continue to talk to a number of other donors…

Manufacturing output in South Africa is facing a challenging start to 2025, with output continuing to decline and showing signs of deeper economic troubles. The sector continued on its downward spiral in March, ending the first quarter of 2025 on the backfoot and likely to negatively contribute to the quarter’s gross domestic product (GDP) print. Data from Statistics South Africa (Stats SA) on Thursday showed that manufacturing production fell by 0.8% year-on-year in March, following a 3.2% slump in February. This marked the eighth consecutive month of annual contraction and the fifth consecutive month of declines in industrial activity, although it was the mildest in the sequence. Nicolai Klaassen, director of industry statistics at StatsSA said four of the 10 manufacturing divisions recorded lower production levels, with the petroleum, chemical…

dieketseng.maleke@inl.co.za South Africans are rapidly withdrawing funds from their savings pots under the new two-pot retirement system, with many dipping into their savings for a second time in just a few months, according to Natasha Huggett-Henchie, consulting actuary and member of the Actuarial Society of South Africa (ASSA) Retirement Matters Committee. Retirement fund administrators have reported that 75% of applications for withdrawals in the current tax year are repeat claims, says Huggett-Henchie. While the average withdrawal amount in the first round of two-pot withdrawals was R20,000, this year’s applications have dropped to an average of R6,000, says Huggett-Henchie. "We are finding that retirement members are taking all they can as soon as they can, she says. Introduced on September 1, 2024, the two-pot retirement system was designed to help South…

Prosus, a subsidiary of Naspers listed on the JSE and Amsterdam stock exchanges, reported robust growth in revenue and profitability for the financial year ending March 31, 2025, said the CEO, Frabricio Bloisi. Speaking to shareholders on Thursday ahead of the detailed results release scheduled for June, Bloisi outlined the company's ambitious trajectory and strategic focus to solidify its position as a leading global technology company. Prosus, known for its expansive portfolio of investments across 100 firms worldwide, is on a mission to establish the leading lifestyle e-commerce company in Europe, India, and Latin America. This vision aligns with Bloisi's earlier commitment, made on October 1, 2024, to achieve an adjusted earnings before interest and taxes (aEBIT) of $400 million for its e-commerce vertical in the financial year 2025—a goal…

The British High Commission in South Africa has issued an official apology following the UK Home Office’s failure to process Julius Malema's visa application. The Economic Freedom Fighters leader was due to travel to the UK for his scheduled address at the “Africa Together Conference” at Cambridge University this weekend. Responding to the fallout, British High Commissioner to South Africa Antony Phillipson apologised in a formal letter, attributing the failure to delays caused by “the necessary steps required to consider visa applications and the unfortunate timing of some recent UK Bank Holidays.” “I have been following the processing of the necessary visa for Mr Malema and am writing to personally apologise,” Phillipson said in the letter. “I recognise that this will be deeply disappointing, especially as the delegation applied in…

THE South African Institute of International Affairs (SAIIA) has distanced itself from views expressed by speakers at an event organised by its Western Cape branch, where DA MP Emma Powell came under fire from a group of people over her recent ‘fact-finding’ mission in Israel. Powell was a keynote speaker at the event on Wednesday. The topic of discussion was South Africa’s strategic goals within the G20 and its bilateral relations with the US, the European Union and BRICS+ partners. “The presence of Ms Powell, given her and the DA’s position on the Israel-Palestine conflict, led to protests and a breakdown of the event due to security concerns. It is important to clarify that SAIIA has active branches in Cape Town (Western Cape) and Pietermaritzburg, each with volunteer committees that…

More than 100 vultures have died in a mass poisoning at the Kruger National Park - one of the largest vulture poisoning events in Southern Africa. The incident in the Mahlangeni Section of the Park was detected by the Endangered Wildlife Trust’s (EWT) wildlife poisoning surveillance and detection system which triggered an alert, flagging suspicious activity in a remote section of the park. Within hours, a joint SANParks and EWT team mobilised, arriving on site. There, they discovered the grim reality: a mass poisoning event involving hundreds of vultures. This was the result of an elephant carcass laced with highly toxic agrochemical pesticides - poison laid by poachers to harvest body parts for the illegal wildlife trade. A total of 116 vultures were found dead at the scene. “The initial…

POLICE have urged Blikkiesdorp residents to approach the office of the Delft station commander to lodge a complaint relating to the alleged assault of a local man by police which also culminated in a 3-year-old being pepper-sprayed. In a video seen by the Cape Times, the man is seen shaking on the ground while being violently held down by several officers. According to a community activist, who witnessed the incident on Tuesday night, he had been beaten with a gun to his head. In another video, the man can be seen showing several gaping gashes on his head with blood flowing from several wounds. The baby is also seen crying while being held by his mother, after he was allegedly pepper sprayed by the police. The victim, 39-year-old Marlon Petersen…

WHEN Karabo Meso was making her come up in domestic cricket, many assumed that Sinalo Jafta would be under the pump for her spot in the Lions women’s team in domestic cricket, as well as the Proteas Women side. After all, the 17-year-old Meso is a much more skilled batter than the 30-year-old Jafta. As a result, Meso got the nod ahead of the experienced Jafta in the opening two matches of the ongoing Tri-Nation Series against hosts Sri Lanka and India. Asked on Thursday if she views Meso as competition for her wicket-keeper batter spot in the national side, Jafta emphasised that they are not fighting it out for a position. The 30-year-old highlighted that her job is to play the supportive role to the 17-year-old as she finds…

Transnet National Ports Authority (TNPA) has named five companies as preferred bidders for the development of liquid bulk and green fuel terminals in the South Dunes Precinct of the Port of Richards Bay. With the project valuing approximately R17 billion, this venture marks a substantial expansion of the port's liquid bulk handling capacity, while also propelling the nation towards a more sustainable energy future. Following a Request for Proposals (RFP) issued on 6 December 2023, TNPA on Thursday said it has awarded preferred bidder status to KZN Oils, Linsen Nambi, Protank, Bidvest/Mnambithi Consortium, and KNGM Engineering. This ambitious project encompasses funding, design, development, construction, operation, maintenance, and eventual transfer of liquid bulk terminals over a 25-year concession period. Terminal designs will enable the handling of a range of essential petrochemical…

The US Federal Reserve on Wednesday announced another pause in rate cuts and warned of higher risks to its inflation and unemployment goals in a likely reference to President Donald Trump's tariff rollout. Policymakers voted unanimously to hold the US central bank's key lending rate at between 4.25 percent and 4.50 percent, the Fed said in a statement. Speaking to reporters in Washington after the decision was published, Fed Chair Jerome Powell said there was "a great deal of uncertainty" about where the Trump administration's tariff policies will end up. The US president introduced steep levies last month on China and lower "baseline" levies of 10 percent on goods from most other countries, sparking weeks of turbulence in the financial markets. The White House also slapped higher tariffs on dozens…

Longer than expected maintenance shutdowns at two South African pulp mills and an uncertain global economy saw global paper and packaging group Sappi sink into a loss in the second quarter. The loss for the three months to March 31 came to $20 million versus a profit of $29m in the quarter to end March last year. Adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) was $107m versus $180m in the same period in 2024. “Challenging market conditions across all segments were driven by heightened uncertainty from potential global trade tensions and a broader economic slowdown, which placed downward pressure on selling prices,” CEO Steve Binnie said in an interview with BR. The forestry fair value price for the quarter was a R307m loss adjustment. Nevertheless, year-on-year sales volumes…

Sustainable packaging and paper group Mondi’s share price gained 2.6% on Thursday after it reported higher sales volumes, good cost control, and fewer planned maintenance shuts in the three months to the end of March. The share price traded at R218.22 on the JSE in the afternoon, a price well down from R368.37 that it traded at a year before. The group said in a first quarter to end-March 31 trading update that average selling prices were lower compared to the fourth quarter of 2024. Underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) for the first quarter was €290 million, including a forestry fair value gain of €2m (Q4 2024: €261m including a forestry fair value loss of €27m). In Corrugated Packaging and Flexible Packaging, stronger order books drove…

Deputy President Paul Mashatile yesterday outlined the various resources from other quarters being mobilised to plug the gap caused by the withdrawal of President’s Emergency Plan for AIDS Relief (Pepfar) funding. Responding to questions during the question session in the National Assembly, Mashatile assured parliamentarians that the government was currently taking measures to prevent the negative effects that could result from the withdrawal of US funding. He noted that UNAIDS and other partners have indicated the funding withdrawal without adequate replacement could lead to significant increase in HIV-related deaths and new infections over the next decade. “The abrupt withdrawal of the funding has resulted already in job losses and a negative impact on the national response to HIV, TB and sexually transmitted infections.” Mashatile said Science, Technology and Innovation minister…

GENERATIONS grew up knowing that one’s address could determine one’s destiny. In the “have” enclaves, there were tree-lined roads and playgrounds. In the “have-not” townships, everyday life was a fight for basic dignity. Such was the pre-1994 housing landscape - a landscape deliberately designed to deny Black, Indian and Coloured people proper land ownership, and the simple human comfort of a secure home near life-sustaining amenities. As we examine housing needs in South Africa we must confront an often ignored reality - chronic homelessness. Chronic homelessness is not just, or only, or even about poverty or addiction - it is deeply linked to mental health. In city centers, like Durban, Cape Town and Johannesburg, many of those sleeping on sidewalks are not simply “vagrants” or “drug addicts”. Often, these are…

Springbok Manie Libbok could be the starting flyhalf for the Stormers tomorrow if director of rugby John Dobson follows his policy of introducing injured players back into the fray. This season, Dobson has opted to include those returning to action in his starting team to have the necessary back-up on the bench should they complete the desired minutes in their first game back from the sidelines. Libbok will mark his first game back when the Stormers play the Dragons at Cape Town Stadium tomorrow (6.15pm start). Often players coming back from injury are selected off the bench, as was the case with Damian Willemse against the Ospreys overseas. Still, Dobson has mostly decided to go the other route with his selections this season. He explained it simply: he wants the…

The Barebones MMA Championship returns this month in what promises to be a “bigger and better” event in its “new home”. After launching mid-last year, the mixed martial arts promotion, which focuses on building the foundation of the Western Cape MMA scene, has gone from strength to strength as it will roll out its fourth Amateur MMA show on May 17 at the Sunningdale Sports Complex. For the first three shows, Elite MMA in Melkbosstrand did an excellent job hosting the event that showcases South Africa’s up-and-coming stars. Now, as the brand starts to spread its wings, the organisers have decided to find a new venue capable of catering to the ever-growing crowds. “I have decided to move the venue from Elite MMA because the venue was just too small,”…

Analysts are warning that the economic ramifications of rising military tensions between India and Pakistan could extend far beyond South Asia, impacting nations like South Africa that count India among their top trading partners. Earlier this week, India's Ministry of Defence announced the launch of Operation Sindoor, targeting nine alleged terrorist camps in Pakistan and Pakistan-occupied Kashmir. This military action was framed by Indian authorities as a direct response to the tragic deaths of 26 civilians in Pahalgam, Kashmir, attributed to alleged terrorist attacks on 22 April. In retaliation, the Indian military has reported increased firing from Pakistan on its northern and western borders. Given the deep interdependencies forged through trade and partnerships, particularly within BRICS—a coalition that includes both countries—these escalating tensions are raising eyebrows among economic experts in…

The ability of International Container Terminal Services, Inc. (ICTSI) to successfully meet its R12 billion tender commitment to the Durban port has been underscored by its recently announced financial results for the quarter ending 31 March. The company posted revenue from operations of $745 million (R1.3 billion) – a 17% increase year on year. The results highlight its financial muscle and ability to operate South Africa’s largest container port in partnership with Transnet and to help unlock South Africa’s economic potential. In an affidavit filed at the Durban High court, Transnet CEO Michelle Phillips also admitted “ICTSI plainly had and continues to have the necessary financial capacity.” Yet the partnership between ICTSI and Transnet has been delayed by losing bidder Maersk who have stalled the process by pursuing a spurious…

This Mother’s Day, I’m reminded that the early money lessons I’ve learnt didn’t come from textbooks or formal training – they came from the women in my family. They didn’t have flashy financial tools or expert advice, but they knew how to stretch a rand until it squeaked. Their approach was simple: Save smart, live frugally, and make the most of what you already have. Watching my mom in action made it real – her quiet everyday choices shaped a kind of financial wisdom that was practical, powerful, and worth passing on. My grandmother was the queen of preserving. Canning wasn’t just a hobby – it was a way to make sure nothing ever went to waste. She’d bottle anything she could get her hands on. She taught me that…

KAL Group, the JSE-listed agri, fuel and convenience speciality retailer reported a steady performance in the six months to March 31, with earnings only marginally lower, and it has predicted a stronger performance in the second half. It generated R557.1 million in earnings before interest, tax, depreciation, and amortisation (EBITDA), a decline of 2.1% over the first half of last year, while R440.6m in pre-tax profit (PBT) was lower by 3.9%. However, the interim dividend was raised to 56 cents a share from 54 cents in 2024 – reflecting business confidence and a commitment to shareholder returns. “KAL Group has grown tenfold over the past 14 years. To put it in perspective – fourteen years ago, we made just 10% of what we’ve reported this half. That kind of growth,…

Grocery retailer OK Zimbabwe Ltd's majority shareholders have agreed to back a $30 million rights issue to cover a "funding gap" and stabilise the company's financial position, its chief executive said." Most of the top five shareholders have indicated interest in following their rights," CEO Willard Zireva told Reuters on Wednesday. Earlier this month, the company announced a capital-raising plan including a rights issue, the private placement of shares, and debt instruments to strengthen its balance sheet, liquidity, and support a strategic turnaround plan. It rehired Zireva as CEO earlier this year to lead the turnaround after he retired more than seven years ago. Previously, also as CEO, he had led the group through Zimbabwe's tumultuous hyperinflation era of 2008. OK Zimbabwe has been facing competition from smaller businesses amid…

Police have found remains of two people who are believed to be Pretoria-based journalist Sibusiso Aserie Ndlovu and his partner Zodwa Precious Mdhluli who vanished mysteriously in February. National commissioner of the SA Police Service (SAPS), General Fannie Masemola, told journalists that the remains of the two people will now undergo rigorous tests to determine their identity. “The process with the human remains we have found, they would be taken to the pathologists and we will take DNA, process it with the closest relatives - it might be one or two relatives to determine the identity of those remains. “Then we can confirm that it is indeed them or not.” Masemola, who was with Police Minister Senzo Mchunu, addressed journalists in Bloemfontein at the funeral of 20-year-old Constable Boipelo Senoge…

TWENTY-TWO police officers have been killed in just three months. The majority of them - 16 - were off-duty at the time of their murder. This is according to Hawks boss Godfrey Lebeya who was speaking at the release of the fourth quarterly results yesterday. Lebeya said an attack on police officials is an assault on society and an attack on the State. “We categorised the killing of police officials as a national priority offence that requires the attention of the Hawks.” Fifty percent of the murders took place in Gauteng. Concerning police killings, Lebeya said 38 people were arrested, 14 convictions secured, and 11 life imprisonments handed down by the courts. “In addition, 487 years imprisonment were secured.” During this period, 33 police officers - 19 traffic officers and…

When US Treasury Secretary Scott Bessent claimed that China’s economy could lose “five to 10 million jobs” due to new tariffs, the headline predictably grabbed global attention. “The onus is on Beijing,” he added, laying the blame for de-escalation squarely at China’s doorstep. But such rhetoric, laced with provocation, ignores both the history and the present reality of US-China trade relations. More crucially, for countries like South Africa watching this power play unfold, Bessent’s remarks reveal not strength, but a strategic miscalculation: the assumption that China is cornered. The reality is quite different. China is not just enduring the storm – it is actively transforming it into a catalyst for growth and global integration. While Bessent frames tariffs as a hammer, China has chosen to wield them as a chisel,…

There will be a perfect opportunity for some Stormers youngsters to make a statement ahead of the playoffs when they face the Dragons at the Cape Town Stadium on Saturday (6.15pm kick-off) With key players injured, especially up front, the Cape side will rely on some rookie front-rankers to hold the fort. It should be the perfect match against the bottom-dwellers of the United Rugby Championship to give them a good run. Independent Media looked at five players that could benefit from the clash... Sazi Sandi Praised for his ability with the ball under the arm and his defensive grafting, the scrums will be the focal point for the tighthead. He’s been on the receiving end of a couple of scrum penalties that developed into a yellow card in his…

Orlando Pirates defender Tapelo Xoki has downplayed the significance of his team’s recent dominance over Kaizer Chiefs, insisting that their focus is squarely on the performance required in Saturday’s Nedbank Cup final. The Soweto giants meet in a sold-out clash at Moses Mabhida Stadium in Durban, with kick-off set for 3.30pm. This will be the second cup final for the Buccaneers this season, and a chance to complete a treble under coach Jose Riveiro, who is leaving the club at the end of the campaign. A win would mark Pirates’ third consecutive Nedbank Cup title and sixth overall trophy since Riveiro’s arrival in 2022. Despite the momentum favouring Pirates, having defeated Chiefs in both league encounters this season, Xoki insists that past results are irrelevant when it comes to finals.…

ANTALYA: Young Robin Williams is leading the South African charge in the DP World Tour’s Turkish Airlines Open here at the Regnum Carya in Antalya, Türkiye. The 23-year-old enjoyed a strong start with three birdies within his first four holes, and maintained his form throughout the day with three further birdies to finish on six-under-par to tie with co-leaders Italian Martin Couvra and German Tiger Christensen after Thursday’s first round. Meanwhile, a refreshed Wilco Nienaber believes a new-found philosophical approach to the game will help him succeed in the Turkish Airlines Open. Nienaber, who won the NTT DATA Pro-Am at Fancourt while his grandfather was on his death bed back in February, shot a splendid opening-round 68 to finish three-under par on Thursday. “I think, with the events at home,…