Índex per 2025-10-07 a Cape Times

Barloworld Limited’s path to delisting gathered significant momentum this week, with Newco — the consortium leading the take-private transaction — announcing that it has received valid acceptances for 108 million ordinary shares under its Standby Offer. The accepted shares represent approximately 58% of Barloworld’s total issued ordinary shares, excluding treasury stock. Combined with the consortium’s and the Barloworld Foundation’s existing holdings, Newco now controls 81.4% of Barloworld’s ordinary shares, positioning the group firmly on course to take the 122-year-old industrial giant private. Sydney Mhlarhi, spokesperson for Newco, hailed the progress as a “major milestone” for the transaction. “We are delighted to have achieved major transaction milestones this past week. The Standby Offer becoming unconditional has prompted a surge in valid acceptances received,” Mhlarhi said. “Together with the Consortium’s existing…

The Office of the Pension Funds Adjudicator (OPFA) has reported a sharp rise in pension-related complaints during the 2024/25 financial year, largely linked to the rollout of the new Two-Pot retirement system introduced in September 2024. According to the OPFA’s latest annual report, released on Sunday, the number of new complaints increased by 13% year-on-year to 10 331, compared to 9 177 in the previous period. Of these, the office managed to resolve 10 100 cases. The report noted that 239 complaints were directly related to the two-pot system in the first seven months of its implementation. The system allows retirement fund members to access part of their savings without resigning from their jobs — a reform designed to provide financial flexibility to workers. However, the OPFA said many funds…

The expiry of the African Growth and Opportunity Act at the end of September marks a watershed moment in the US-South Africa relationship. While Agoa had been effectively undermined by the Trump tariffs imposed earlier this year, it nevertheless provided a backstop for our trade relationship – a framework and a reason to work hard towards agreement on new trade terms. The Trump administration indicated a desire to extend Agoa by one year shortly before its expiry, but Congress has been unable to act on that ambition due to the government shutdown. There remains a possibility that an extension could be included in legislation required to end the shutdown, but even then, it is unclear whether South Africa would be included, given the broader issues that have arisen between our…

36ONE Asset Management, a leading South African asset manager, has announced a landmark Broad-Based Black Economic Empowerment (B-BBEE) deal with a consortium led by MI Capital, the investment arm of The Maharishi Invincibility Institute (MII). The deal sees the consortium, which includes staff of 36ONE, and communities of youth in MII through The Invincible Empowerment Trust, acquire a 22% stake in 36ONE Asset Management. This partnership is a significant milestone that unites a top-tier financial firm with a proven leader in youth education and empowerment. It will help advance the educational mission of MII and help to uplift previously disadvantaged South African youth for generations to come. Cy Jacobs, co-founder of 36ONE Asset Management, said, "We are thrilled to partner with the Maharishi Invincibility Institute through MI Capital. “This partnership…

Imagine the comforting aroma of freshly brewed coffee swirling through the air, intertwining with the mouthwatering scent of crispy bacon sizzling in a hot pan. If there’s one meal that truly sets the tone for your day, it’s breakfast. Whether you grab a slice of toast on the run or indulge in a full spread, how you break your fast says a lot about your culture and your health. Studies show that people who eat breakfast regularly tend to have better concentration, improved mood, and more balanced energy levels throughout the day. But while most of us picture eggs, toast, or cereal, breakfast looks wildly different around the world. From hearty soups to sweet pastries, each culture brings something unique to the table, sometimes quite literally. Breakfast is far from…

THE alleged lack of budget clarity for the Madlanga Commission inquiry could be the government’s plan to sabotage the commission’s work. That is according to political analyst Zakhele Ndlovu following the commission’s former chief evidence leader, Advocate Terry Motau’s remarks about stepping down from the top position over what he described as inadequate budget. Speaking with Radio 702, Motau disclosed that he had tendered his resignation on September 11, following a long-lasting discussion with commission leadership- central to his concerns was the lack of budget clarity. He said that this was a lesson that should have been learned from the Zondo Commission, which ballooned past R1 billion in cost and left several legal professionals unpaid in its final months. He said the R147,9 million budget for the Madlanga Commission, announced…

ALLEGED gang boss Nafiz Modack and his co-accused in the Charl Kinnear murder trial were set to face the High Court after a six-month break, but their return has been pushed back. The delay comes after Judge Robert Henney was reportedly booked off sick this week, forcing the trial to be rescheduled. Since the recess in March, Modack is now an official convict after recently being sentenced to seven years imprisonment by the Cape Town Regional Court for bribing a police officer R146 000 in exchange for special treatment. Modack appeared alongside 14 other accused, including alleged Terrible West Siders leader Moegamat Toufeek “Bubbles” Brown. They face over 100 charges ranging from murder to money laundering in the case centred on the murder of Kinnear who was gunned…

Malibongwe Khoza didn’t think it would happen so soon. But such is his determination to succeed in his career that he’s not taking any opportunity lightly — nor is he getting carried away. Khoza earned his maiden Bafana Bafana call-up for the two crucial 2026 Fifa World Cup qualifiers: against Zimbabwe at Moses Mabhida Stadium on Friday, and against Rwanda at Mbombela Stadium next Tuesday. Both games are scheduled for a 6pm kick-off. While his quick integration into coach Hugo Broos’ plans was unexpected, Khoza wasn’t just sitting and waiting. He was working hard. As such, he believes that if he hadn’t gone to the Chan tournament with the makeshift Bafana side under coach Molefi Ntseki earlier this winter, he wouldn’t be where he is today. “I didn’t think that…

Last season, the so-called Big Six in the English Premier League gave way to a Top Eight as Manchester United and Tottenham Hotspur lost their place at the top table, while the emergence of the likes of Nottingham Forest, Aston Villa, Fulham, Brighton and Crystal Palace suggested a shake-up in the established order. For more than a decade, Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham monopolised the Uefa Champions League places, dictated the title race, and appeared untouchable. But last season’s shifts — not just in final log positions, but also Palace’s historic FA Cup triumph and Newcastle’s dramatic League Cup win — signalled the cracks beginning to show. Any suggestion that this was a temporary wobble has been dispelled by the early weeks of this campaign. Bournemouth…

Discovery Green, the renewable energy business of Discovery Limited, and Glencore Operations South Africa, part of a global diversified natural resources company, said on Monday they had signed a 20-year renewable energy supply agreement. The deal will replace the majority of the electricity consumption at four of Glencore’s major mining operations with renewable energy. Starting in 2027, Discovery Green will supply renewable energy to the Goedgevonden, Tweefontein, and iMpunzi mine complexes near eMalahleni, in the Nkangala District. The electricity consumption across these operations is estimated to exceed 290 gigawatt-hours (GWh) per year. This long-term agreement is expected to substantially reduce the operation’s direct carbon emissions, while providing Glencore with stable, predictable electricity costs. “We are excited to support Glencore, a major player in South Africa’s economy, on their journey towards…

The stalemate between the South African Social Security Agency (Sassa) and the Postbank over the former's stipulation of a three-month extension of a Master Service Agreement (MSA) affecting about 3 million beneficiaries has to go back to the Presidency after as tensions heat up between the two entities. This is as the Department of Planning Monitoring and Evaluation (DPME) cited by both parties in the dispute as a mandated mediator referred to the appointment of an inter-Ministerial Committee (IMC) to the Presidency, suggesting the mediation process has not begun. DPME Ministerial spokesperson Litha Mpondwana referred responses to the Presidency as the establishment of inter-governmental committees was the prerogative of the Presidency. "The DPME has been involved in intergovernmental relations processes, which seek to facilitate the optimal provision of social…

A full percentage point and a quarter in interest rate cuts over the past year have eased financial pressure on South Africans — but not enough to make a meaningful difference, according to leading debt experts. The South African Reserve Bank (Sarb) has reduced the repo rate by a cumulative 125 basis points since August 2024, bringing it down from 11.75% to 10.5%. While this marks a gradual easing of monetary policy after years of high borrowing costs, analysts say the relief has been offset by the soaring cost of living. Neil Roets, the founder and CEO of Debt Rescue, said that while the rate cuts were welcome, many consumers are still under severe financial strain. “While this 125 basis point reduction has provided some relief on paper, the reality…

South Africans are no strangers to the rising cost of living. Grocery prices continue to rise, fuel costs swing unpredictably, and households are stretched thin trying to make ends meet. Yet, amid this financial strain, one essential service has provided rare relief: internet access. The Competition Commission’s August 2025 Cost of Living Report highlights something perhaps worth celebrating. The communications sector has made real progress in driving affordability and accessibility of internet services. It’s a reminder that the tides are slowly turning and that even in tough economic times, targeted interventions can help ease pressure on households. The internet is no longer a luxury, it is an essential service, as important as electricity or water. This recognition reflects the lived reality of millions of South Africans for whom being offline…

Mondi’s share price fell by a whopping 16.7% on Monday morning after reporting softer markets and extended maintenance shuts for its third quarter to September 30. The JSE and London Stock Exchange-listed global sustainable packaging and paper group said in a trading statement that underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) came to €223 million, including €20m of forestry fair value gain. This was lower than the second quarter EBITDA of €274m, which included a €16m forestry fair value gain. The first quarter EBITDA came to €290m. The share price fell to a new 12-month low of R203.10 on the JSE on Monday morning, and the price had fallen more than 37% over a year. "Trading conditions in the third quarter were challenging, with softer volumes and declining…

Sober October is here, and we all know that weekends can be a challenge to abstain, especially with events like the Springboks games, along with countless weekend braais. However, if you’re still indecisive about taking on the challenge or have already committed yourself to doing so, here’s even more motivation to do it. Did you know that giving up alcohol for a month is one of the quickest ways to see tangible improvements in your life? Forget the doom and gloom of missing out on the fun. This isn’t about restriction; it’s about rebooting your system and unlocking a healthier, more energised version of yourself. The weekend is the ultimate test, and you still have time to reap the full rewards of this challenge. Here’s a look at the awesome…

THE trial against five senior officials from the KwaZulu-Natal Premier’s Office and four directors of service providers and seven entities was once again delayed after some of them failed to pay their attorneys . Ziphathe Mboneni Cibane, Nonhlanhla Pamela Hlongwa, Nomusa Zakwe, Tobelani Njabulo Makhathini, Sithembiso Doctor Msomi, Phumalanga Communications CC, Gugu Audrey Kheswa, Roren Engineering CC, Ashley Mervyn Rose, Nto’s Catering CC, Ntombimpela Mabel Majozi, I Dot Q, Set Apart Group, Inala Business Consortium, Sybil Nomphumelelo Motaung, and Isidleke Enterprises Pty Ltd appeared in the Durban High Court yesterday for the resumption of the trial. They face charges of fraud, corruption, theft, and money laundering amounting to more than R 21 million. However, the court was forced to postpone the matter to tomorrow after counsel for two of the…

THE South African government has received confirmation from its Israeli counterparts assuring them of the release of the locals who participated in the recent Global Flotilla Initiative in Israel, said the Department of International Relations and Cooperation (Dirco). The South African pro-Palestine activists including Nelson Mandela’s grandson Mandla and five others were among a group of people from around the world intercepted by Israeli forces on their mission to deliver aid in Gaza last week. Amid global pressure, the Israeli government began deporting some of the detainees. Dirco confirmed yesterday that it had been formally notified by the Israeli authorities regarding the status of the South African citizens who participated in the recent Global Flotilla Initiative. Dirco spokesperson Chrispin Phiri said they were expected to be released from detention…

THE Office of the Pension Funds Adjudicator (OPFA) has cited the implementation of the two-pot retirement system and the withdrawal option as among factors contributing towards the 13% increase in new complaints during the 2024/25 financial year. The OPFA’s latest annual report shows that the pensions dispute resolution forum received 10 331 new complaints, up from 9 177 the previous year and finalised 10 100 cases. A total of 239 complaints received between September 2024 and March 2025 related specifically to the two-pot system, which came into effect on 1 September 2024. The new system allows fund members to access a portion of their retirement savings without resigning from employment. However, the report found that some funds struggled to process the high volume of withdrawal applications. Additionally, others were unable…

NEARLY 800 units of alcohol were confiscated from Cape Town beaches during matric valedictory celebrations. In the past week, the City’s enforcement agencies made 197 arrests, including a near three-fold increase in arrests for drunk driving. On the beaches, officials confiscated 799 units of alcohol during valedictory celebrations. “The amount of alcohol confiscated is of concern, particularly as we’ve highlighted time and again that it is illegal to consume alcohol in public spaces, but also the potential consequences of driving or swimming under the influence,” mayco member for safety and security, JP Smith said. “Fortunately there were no major incidents reported during the valedictory celebrations. On the roads, we witnessed once again the spike in drunk driving that has become commonplace over payday and month-end weekends. It’s mind-boggling, considering the…

A much happier Brad Binder was pleased with his efforts at the Mandalika International Circuit in Indonesia, where he fought his way to a season-best fourth-place finish. The South African rider battled from 15th on the grid in Sunday’s main race, building on his 10th-place finish in Saturday’s sprint. Once again, qualifying had not gone according to plan, leaving him with another challenging start from the middle of the pack. Nicknamed “Mr Sunday”, Binder’s trademark race-day heroics had been missing so far this season. However, under the sweltering temperatures in the land of tropical wonders, the South African turned up the heat, slicing through the field and narrowly missing out on a podium finish. After a string of inconsistent results leading into this leg of the championship, Binder expressed his…

Good policies and good luck cushion emerging markets in face of global volatility, says IMF Emerging markets have shown remarkable resilience in the face of global financial volatility, thanks to a combination of “good policies” and, to a lesser extent, “good luck,” according to the International Monetary Fund’s (IMF) latest World Economic Outlook (WEO) released on Monday. The report's chapter 2, titled “Emerging Market Resilience: Good Luck or Good Policies?”, finds that many emerging economies are now better equipped to withstand global “risk-off” shocks — periods when investors retreat from riskier assets — than they were before the 2008 global financial crisis. The IMF attributes this resilience primarily to improved monetary, fiscal, and macroprudential frameworks, which have allowed central banks to act more independently, stabilize domestic economies, and reduce reliance…

In governance, silence is rarely neutral. It is a decision, and one that shapes the moral character of leadership. The most dangerous failures in boardrooms do not always come from the wrong actions of leaders, but from their refusal to act when duty demands it. Silence, like ego, has a governance cost. It corrodes accountability, weakens oversight and allows risk to grow unchecked beneath the surface. Every board faces moments when silence seems easier than confrontation. A director notices a recurring issue in audit findings but says nothing. A chair senses executive overreach yet avoids raising it to preserve harmony. The intention may be noble, but the outcome is not. When boards choose not to act, they drift from stewardship toward complicity. Inaction often hides behind professionalism. It wears the…

South Africa is standing at a defining moment. For generations, our growth has been tied to mining, manufacturing, and heavy industry — vital sectors, yes, but costly, resource-heavy, and often slow to create the kinds of broad, future-facing jobs our young population needs. Meanwhile, a new global engine is roaring ahead: gaming. Once dismissed as teenage pastime, gaming today is much more. It is a billion-dollar industry, a platform for technology innovation, a competitive sport, a tourism drawcard, and even a classroom tool. With the right choices in policy, education and investment, South Africa can do more than join this global wave — it can ride it to rebrand itself as Africa’s creative-technology hub, unlocking jobs, exports and skills development along the way. A booming market we cannot ignore The…

The Financial Intelligence Centre (FIC), the state institution that aims to combat financial crime by mostly monitoring millions of reports from 55 262 institutions in South Africa, says it recovered R144 million in proceeds from crime in 2024/25. The FIC’s latest annual report shows this amount is 46% more than the preceding year. The FIC also claims to have blocked R157.5m as suspected proceeds of crime. The report comes in an environment where suspected financial crime totaling billions of rand is reported almost daily in South Africa’s media, and most of these funds will likely have passed through the financial system. The FIC said ithe 55 262 institutions registered on its database submitted more than 13.5 million regulatory reports in the year. Financial institutions are obliged by regulation to submit…

Jubilee Metals Group plans to concentrate solely on its Zambian copper projects and the Tjate platinum project in South Africa by the end of the year. The strategic shift is contingent on the disposal of its South African chrome and PGM operations, which is expected to be finalised soon. In an update released on Monday, the JSE and London-listed copper-focused producer revealed that shareholders had approved the sale of the chrome and PGM operations on August 25, 2025. The company has already received the first tranche of the sale consideration, amounting to $15 million. “Our Three-Pillar Strategy offers flexibility to our operations and supports a more robust business approach to withstand in-country risks while providing exciting growth opportunities for the Group,” said CEO Leon Coetzer. The company is awaiting approval…

Sacha Feinberg-Mngomezulu has been making waves both on and off the rugby field. Born to British-born radio personality Nick Feinberg, who emigrated to South Africa in 1994, and Makhosazana Mngomezulu, a South African lawyer, he carries both surnames as a reflection of his diverse heritage. His father recently addressed criticism from a social media user questioning why Sacha used both surnames. The troll asked if Nick pressured his son into including his “hard-to-pronounce” name. Nick responded firmly: “I don’t normally answer stuff like this. But to satisfy whatever deep need you are servicing, the answer to that is no.” Sacha’s family has other public figures. His brother, Nathan Soan- Mngomezulu, is known for social media and reality TV, including an appearance on season 3 of the UK dating show Too…

THE Healthy Living Alliance - Heala.org was dealt a blow for the second time when the Advertising Regulatory Board (ARB) Final Appeals Committee turned down its appeal over claims in an advertisement in which it warns the public about the harms connected with the intake of fizzy drinks and fruit juice. The Advertising Appeals Committee (AAC) earlier this year ruled that the ad was misleading. Heala.org subsequently turned to the final appeals arm of the ARB to appeal that ruling. But in a recent judgment, the tribunal once again ruled against the organisation. The ruling was in favour of a consumer who complained about Heala.org’s ad, which said “Fizzy drinks and fruit juice make our children sick. With every sip, sugar is dumped into their bodies, leading to obesity,…

The Western Cape Education Department has failed in its legal bid to overturn an earlier order to reinstate and back pay more than R360 000 to a Primrose Park Primary School teacher who was fired following claims of unbecoming conduct at school towards pupils. Lee-Ann Snyders, who had been working at the school since 2013, lost her job following a 2019 disciplinary hearing that found her guilty on 14 charges relating to misconduct. She was accused by a group of Grade 5 learners of name-calling and using derogatory language. She successfully turned to arbitration to have her dismissal overturned. The arbitrator at the time found that the learners had fabricated allegations to have the teacher dismissed. Snyders taught the Grade 5B learners at the time, and the charges were based…

The defence of the ICC World Test Championship (WTC) mace is set to officially get underway for South Africa as they begin the new cycle with a two-match Test series in Lahore and Rawalpindi this month. As the Proteas start the 2025–27 WTC cycle in Pakistan next week, they carry a target on their backs, having won the WTC final against Australia at Lord’s this past winter. It will be a new challenge for South Africa, given that every Test they play will now be closely examined by opposition teams — a level of scrutiny they most likely did not face in the previous cycle, when they flew under the radar due to a lack of stars and being generally underrated. Stand-in captain Aiden Markram emphasised the team’s desire to…

The Stormers will have three Springbok superstars with them in Wales on Friday night, but whether they play against the Scarlets is another matter. Fresh from playing starring roles in the defeat of the Pumas at Twickenham, Sacha Feinberg-Mngomezulu, Damian Willemse, and Cobus Reinach will travel from London to Llanelli to join the squad on Tuesday. However, defence coach Norman Laker told the media on Monday that a decision was still to be made about slotting the trio straight in. Laker said that the Stormers had started the United Rugby Championship strongly and praised the players who got the team off to a two-match winning start, with impressive wins over Leinster and the Ospreys. “The guys who have been in the seat have done extremely well,” Laker said. “Guys like…