Sommaire pour 2025-03-06 de Cape Times

Woolworths Holdings (WHL) lowered its interim dividend by 28% and has warned that recent US-related global trade relations positions have elevated the macro-economic risk outlook for South Africa, even though consumer confidence has increased. The higher-end retailer, which on Wednesday announced financial results for the 26 weeks to December 29, 2024, will pay out a half-year dividend of 107 cents per share, after strong sales and market share growth in its Food division was offset by lower contributions from the clothing businesses both in South Africa and Australia, which are undergoing transformation. “We have a world-class Food business that remains our engine room for value creation, and we are building the foundational capabilities of our apparel businesses to drive long-term sustainable growth,” WHL group CEO Roy Bagathini said in a…

The postponement of the appointment of the National Lottery Licence operator has ignited a firestorm of discontent among Parliamentarians, who on Wednesday questioned the motives behind the Department of Trade, Industry and Competition's (the ditc) handling of the tender process. The decision to extend the timeline by a year has raised suspicions, particularly regarding the direct engagement of the dtic minister Parks Tau with various bidders, including the current operator, Ithuba Holdings. The Portfolio Committee on Trade demanded that Tau, who along with department officials was conspicuously absent at the presentation of the National Lotteries Commission (NLC) financial results for 2023/2024, appear before it to account for the postponement. Economic Freedom Fighters (EFF) MP Sinawo Thambo questioned the NLC board if it did not consider it illegal for the minister…

It is very unfortunate that divisive characters like Ernst Roets continue to be given international influential platforms like The Tucker Carlson Show to spew their bile and hatred about the unity project in South Africa. The democracy and diversity we enjoy today in South Africa did not come easily, but it was fought for with the blood and sweat of our fathers and mothers. The vision for a democratic South Africa was never one that envisioned the country partitioned into small enclaves divided on ethnic and racial lines, but it wished for all races, classes, and ethnic groups to live in harmony with each other while embracing their diversity and using it as a strength for unity. However, charlatans like Roets would like to see nothing less than to erect…

Small businesses in South Africa are often managing multiple priorities such as business efficiency, innovation and growth. Amidst these daily challenges, many overlook the value of claiming the full range of tax benefits available to them. The Tax Base at a Glance At the forefront of this movement is the South African Revenue Service (Sars), which collects the bulk of its revenue from three main sources - Personal Income Tax (PIT) at 37.4%, VAT at 25.7%, and Company Income Tax (CIT) at 18.2%. The Sars tax ecosystem is large and multifaceted. In 2023/24, there were 959 000 registered VAT vendors, but only 488 118 were active, amounting to just 50.9% of the total. Out of 3.6 million registered CIT taxpayers, only 1.16 million are actively contributing - 643 948 are…

Old Mutual's share price fell a hefty 3.18% after it said adjusted headline earnings per share (AHEPS) were expected to increase between 7% and 27% in the year to December 31, 2024. The insurance and financial services group that plans to launch a bank in South Africa said it expected AHEPS to be between 138 to 163.8 cents per share versus 129 cents last year. The share price fell fairly hard to R11.88 on the JSE on Wednesday afternoon, with the price also marginally below the R12.15 it traded at a year ago. Further details of the bank’s launch, expected early this year, will likely emerge when the full-year results are released on March 18. OM Bank received approval from the SA Reserve Bank to appoint Clarence Nethengwe as CEO…

A Gauteng-based home for mentally-challenged children and adults says the 21 deaths recorded in 24 months was normal and expected due to the operating environment. This comes as the facility is being accused of a spate of human rights violations against its vulnerable patients and some of its current and former employees. Some of the recently dismissed former employees say they are worried that yet another Life Esidimeni tragedy is on the cards if nothing is done to stop the multiple alleged human rights transgressions at the Little Eden Society. Little Eden Society, an assisted-living facility for people with intellectual disabilities in Edenvale and Bapsfontein, in Ekurhuleni which has been in operation for more than 50 years, is accused of failure and lack of empathy extended to more than 300…

Steveno van Rhyn, one of the accused in the Joshlin Smith case, said while he never saw the child on the day she disappeared, he was tortured and nearly killed by police during interrogation. This was revealed when his lawyer, Nobahle Mkabayi, read his plea explanation into evidence yesterday. Van Rhyn, alongside Jacquen ‘Boeta’ Appollis and Kelly Smith all pleaded not guilty to charges of kidnapping and trafficking in persons. The trio is on trial at the Western Cape High Court, sitting in the White City Multipurpose Centre in Saldanha. Van Rhyn, a cell phone repairman, stated that he and Boeta are friends who often spent time together and used drugs. He was also acquainted with Kelly through her relationship with Boeta and was aware that she had three children…

Meet Hennie Terreblanche, Independent Media’s representative and the potential winner of a Toyota Fortuner GR-S. Terreblanche was selected as the most suitable candidate among a plethora of entries for the 2025 Fortuner Challenge powered by Quartz Engine Oil. While at his wife’s biokineticist waiting rooms, a patient suggested that he should enter the challenge. “I hadn’t heard about the challenge before so I did some research and decided that I’d like to enter. I filled in the application and I am honoured to have been chosen to represent Independent Media.” The 27-year old software engineer is also a CrossFit coach when he’s not busy with his engineering work at an employee welfare company. Strongest attribute: “I think my biggest attribute is that I’m well rounded and naturally fit although growing…

Springbok assistant coach Deon Davids is crossing his fingers that their lock stocks remain healthy for the international season. The world champions will play 15 Tests – two still need to be confirmed – this year, and after having a minor lock crisis last season due to injuries, Davids is hopeful that things will look better in 2025. Through last year’s struggles, especially at No 5 lock, the Bulls’ lineout caller Ruan Nortjé made a name for himself at the highest level, but the same Nortjé is currently out with an injury. The Boks will have the likes of RG Snyman, Franco Mostert and Lood de Jager available – they are all fit and firing at the moment, and Nortjé should be back in action for the Bulls in April.…

NASREDDINE Nabi, like most coaches, believes in protecting his players, and the Kaizer Chiefs coach is unlikely to criticize them in public. However, the Tunisian does occasionally open up about the shortcomings of those under his charge as he seeks to help them improve. He did so late Tuesday night, deep in the bowels of FNB Stadium, following Amakhosi’s 1-0 Betway Premiership victory over Magesi FC, courtesy of an Ashley du Preez goal. Nabi spoke openly about what Ranga Chivaviro needs to do to save himself from the boo brigade, who are always on his case. He also revealed that he and his technical team are working hard to help Pule Mmodi become the national team player they believe he has the potential to be. Chivaviro was his usual wasteful…

Sentiment in the business sector in South Africa will remain cautiously optimistic about prospects for activity in the second quarter of 2025 despite strong performances in the new vehicle sector, as the African Growth and Opportunity Act (Agoa) benefits are seen at risk. The RMB/BER Business Confidence Index (BCI), released on Wednesday, remained unchanged at 45 index points in the first quarter of 2025 following three consecutive increases. Although this figure lies just above the long-term average of 43 points and is markedly higher than the sentiment recorded at the start of 2024, the overall picture reveals a troubling slip in confidence across four of the five key sectors surveyed. The BCI survey, conducted between 5 and 24 February, reflects responses largely collected shortly after US President Donald Trump announced…

After Steinhoff’s implosion in 2017 when audit firm Deloitte flagged accounting issues, the JSE tightened regulatory measures by implementing “innovative reforms to strengthen the South African financial markets”. Because the Steinhoff group’s primary listing was on the Frankfurt Stock Exchange (FSE), that bourse’s regulations were applicable, said Andre Visser, the JSE’s issuer regulation director. A PwC probe into wrongdoings at Steinhoff summarised how the shift in primary listing from the JSE to Frankfurt came about. In the length report, which Business Report secured under a Promotion of Access to Information Act, the advisory company stated that Steinhoff International, registered in the Netherlands, started trading on the FSE on December 7, 2015. This followed a deal through which the Steinhoff group effectively bought out the South African division. The company’s year-end…

The building retail sector did not benefit from an increase in consumer spending arising from cuts in interest rates, lower inflation, and the Two-Pot pension payouts in the six months to December 29, said Cashbuild’s chief operating officer Shane Thoresson on Wednesday. Cashbuild, one of southern Africa’s largest retailers of building materials and associated products that sells to a mostly cash-paying customer base through 318 stores, reported its financial results for the six months. The results saw the share price rise more than 3.3% to R182.49 on the JSE Wednesday morning, a price 25% higher than a year ago. The tough trading conditions were reflected in single-digit sales growth over the six months, with revenue for the 309 stores opened prior to July 2023 up by 4% compared with the…

MTN Group has formalised a landmark agreement with the Ghanaian government to support the ambitious 'One Million Coders Program'. The initiative, aimed at equipping the nation's youth with foundational skills in artificial intelligence, coding, and digital technologies, was officially announced during the Mobile World Congress 2025 held in Barcelona. The memorandum of understanding (MoU) was signed by Samuel Nartey George, Ghana’s Minister of Communication, Digital Technology and Innovation, and MTN Group President and CEO Ralph Mupita. George described the programme as a flagship initiative of the newly inaugurated administration under President John Mahama, emphasizing the government's commitment to fostering digital excellence through targeted partnerships. “We engaged with the MTN Group and expressed our desire for a partnership that will lead to fuel the capacity of young Ghanaians in the area…

As part of rebuilding the ANC in KwaZulu-Natal, the newly appointed party leadership has vowed to remove deadwood deployees and officials whose inefficiencies are causing service delivery backlogs that affect the masses. In a media briefing yesterday addressed by Jeff Radebe, the convener and Mike Mabuyakhulu, the coordinator, the party made a special reference to eThekwini Municipality, vowing to closely monitor and turn around the infrastructure-besieged eThekwini municipality. Reading from the statement which he said emanated from the adopted programme of action by the first reconfigured provincial executive committee meeting on Monday, Radebe said the PEC agreed to pay special attention to major municipalities especially those that play a major role in such as eThekwini Metro. The leadership was also irked by the reports that the City is at risk…

Opposition parties have intensified their demands for Police Minister Senzo Mchunu to release the Independent Police Investigative Directorate (Ipid) report regarding President Cyril Ramaphosa’s controversial Phala Phala scandal. The report, finalised in October 2023, has been classified as “top secret,” igniting calls for transparency and accountability within the government. While Ramaphosa has vigorously denied any misconduct, questions concerning his integrity and accountability continue to loom large, casting a shadow over his presidency. In response to Vuyo Zungula, leader of the African Transformation Movement (ATM), Mchunu confirmed in writing that the Ipid report remains classified and insisted that it would not be released until declassification occurs. He asserted that claims of suppressing the report were unfounded and disingenuous. Opposition parties, however, are accusing Mchunu of complicity in protecting the President. Zama…

Eighteen years ago South Africa raised its collective eyebrows when Great Wall Motors (GWM) entered the market. Our first introduction to their bakkies was the GWM Steed and when they launched the luxury P-Series lifestyle double cabs in 2020, they fully announced their intention to take on the recognised players in the market. It was received with mixed reaction but they had a steady flow of sales and now it’s been updated and improved with the launch of the P-300. The most significant change comes under the bonnet with the addition of a 2.4-litre turbo diesel engine with 135kW and 480Nm of torque matched to their own eight-speed automatic transmission. GWM says it has put the motor through vigorous testing to ensure its reliability. It included extreme environments and 76…

New Zealand shattered South Africa’s dreams of playing in a rare ICC final with a convincing 50-run victory in the second Champions Trophy semi-final in Lahore on Wednesday. Ongama Gcwabe highlights the plays of the day... Diagnosis The real reason behind South Africa’s loss could be traced back to the lack of partnerships with both bat and ball. From the new-ball duo to the death overs, there were no real partnerships as the bowlers toiled. With the bat, apart from the century stand between Temba Bavuma (56) and Rassie van der Dussen (69) for the second wicket, there were no substantial contributions in tandem in a game where the side needed big partnerships to come close to the 363-run target. Innings The Proteas bowling attack knew beforehand that Kane Williamson,…

The Sharks appeared to be in slow motion during the opening exchanges of last week’s match against the Lions at Ellis Park, but speedy Yaw Penxe says the afterburners will be blasting in Saturday’s rematch. The Lions were 14-0 up in no time and kept the throttle wide open to lead 19-0 at half-time and 38-0 with three minutes to go. “It is 100% correct that how you start sets the tone for the match,” the stocky wing said. “A fast start is what every team goes for. If you lose that first 20 minutes, it gets into your head, and you lose confidence. So, a huge priority against the Lions on Saturday is to get a better start than last week.” Penxe, a Junior Springbok in 2017, said that…

The JSE All Share Index rose more than 1% to 87 679 index points by 5pm The Johannesburg Stock Exchange (JSE) experienced a noteworthy surge on Wednesday, hitting a one-week high, while the rand strengthened to its most robust level in seven days. The gains are largely attributed to rising hopes that Canada and Mexico may reach a compromise with the United States, steering clear of retaliatory measures in response to newly imposed tariffs. The JSE All Share Index rose more than 1% to 87 679 index points by 5pm, buoyed by resources stocks, particularly platinum mining stocks. Impala Platinum soared 9.5% to R103.74 per share, followed by Northam Platinum and Anglo American Platinum at 8.3% and 6.0% to R8.77 and R35.83 per share, respectively. Harmony Gold stocks also rose…

In the face of Ernest Roets, Elon Musk, and United States President Donald Trump: Is it business as usual? That would be a resounding no. Yet all one can do is keep calm and carry on - to make money despite the disruption and grow one’s bottom line, to hold one’s head up high and say we are South African and stop messing, or “kaking”, on our national sovereignty. Unfortunately, as the global chessboard of politics sees its horsemen stomping and charging in unpredictable moves, the undeniable fact remains: America is broke. “It’s the economy, stupid.” People are distracted by Musk's chainsaw moves and Zelensky White House "diplomacy" instead of heeding what Musk is saying. Every decision Musk makes aims to cut the US deficit by $1 trillion (R18tn), and…

Valentine’s Day, along with the month of love, has come and gone, leaving many of us reflecting on our relationships with friends, family, colleagues and business associates. But what about the relationship you have with your business? For entrepreneurs, a business venture can often feel like a love story – full of aspiration and excitement at first but, over time, the novelty can wear off, and your business may start to feel more like a job than a passion. It’s important to remember that, like any relationship, a business requires ongoing effort to consistently move forward in your desired direction. So, if you feel like you’ve fallen out of love with your business, here are five ways to reignite the spark and rediscover joy in your entrepreneurial journey. Reconnect with…

Spur Corporation, a leading restaurant franchise group, dished up sizzling results with a 10% increase in total restaurant sales for the six months ending December 2024 despite intensified competition in the casual dining sector. This as Group CEO Val Nichas presenting the results on Wednesday, said, “Spur is looking at new markets, new new regions and new opportunities" as well as creating more value for customers across all business verticals. Headline earnings per share rose 12.1% to 179 cents from the prior period. Headline earnings increased by 11.5% to R144.4 million. Revenue grew by 13.8% to R2 billion, driven by a 10.0% increase in total restaurant sales to R5.9bn and contributions from the Doppio Collection, acquired in December 2023, which added R351m in sales. The board declared a dividend of…

Curro Holdings’ share price was caned 6.9% on the JSE, one of the biggest declines on the bourse Wednesday, after it reported that the number of learners has declined so far this year. The share price for the independent schools group fell to R10.60 on Wednesday afternoon, a price that was also below the R11.15 traded at a year ago. This was even though the board lifted the final dividend a solid 13.4% to 16.60 cents a share. In a presentation, CEO Cobus Loubser said that the average number of learners had increased by only 1% in the year being reviewed, rising to 72 638 from 72 031. By February 10 this year, 72 109 learners had been enrolled, which was lower by 1 018 learners than at the same…

The National Energy Regulator of South Africa (Nersa) yesterday issued a clarion call for tighter regulation of the coal sector, a move that comes in the wake of significant tariff hikes approved for Eskom. Responding to questions in the portfolio committee on electricity and energy on the justification for the recent Sixth Multi-Year Price Determination (MYPD6) approval, which effectively gave Eskom 36.1% tariff increase, Nersa Commissioner Tembinkosi Bukula highlighted that the coal sector currently operates as a “blind spot” in Eskom's production costs. Bukula remarked that the regulator had no authority to scrutinise the coal contracts that Eskom negotiates independently, which is increasingly concerning as a majority of the contracts near the end of their 20 or 30-year terms. "The energy regulator does not, nobody regulates that part of the…

Things are about to get real. When you get an email from Motorsport South Africa to create your profile and register as a driver for the 2025 Toyota GR Cup Season representing Independent Media and IOL, on one hand it’s exciting and on the other, rather nerve-wracking. I mean, every legend of motorsport in South Africa has had their profile there. There’s no turning back now. We’ve completed our shakedown, signed indemnity forms and participation agreements and had our kit fitted so drivers start your engines! Round one The first round of racing takes place at Killarney International Raceway in Cape Town this weekend. It will be my first time racing in anger with my motoring journalist colleagues, GR Cup Dealer Challenge drivers in GR Corollas and GR86 Development Academy…

Women remain significantly under-represented in leadership roles THIRTY years ago, the Fourth World Conference on Women, in Beijing, set forth the Beijing Platform for Action, a comprehensive policy agenda aimed at achieving gender equality. As we observe International Women's Day 2025 under the United Nations theme, “For ALL Women and Girls: Equality. Rights. Empowerment”, it's imperative to assess the progress made and the challenges that persist, both globally and within South Africa. Since 1995, significant progress has been made in advancing gender equality across various sectors. In education, the gender gap has narrowed considerably, with the World Economic Forum's Global Gender Gap Report 2024 indicating that 95% of the global educational attainment gap has been closed. Sub-Saharan Africa has also seen improvements, with increased literacy rates and higher school enrolment…

The Springboks didn’t want to lose Felix Jones after the 2023 Rugby World Cup as one of their assistant coaches, but they are happy to have his services back. Rassie Erasmus, the Bok head coach, said they understood Jones’ reason for returning to the United Kingdom, which was to be closer to his family a couple of years ago. When the opportunity to get him back into the Bok fold presented itself recently, they could not let it pass ahead of the 2027 World Cup in Australia. “It was definitely not a plan,” Erasmus said on sending Jones overseas to collect intel (intelligence) and then signing him again 18 months later. “That speculation must maybe stop. Things didn’t work out in England for whatever reasons. But you don’t relocate your…

For the second time within a week, New Zealand and India are set to meet at the Dubai International Stadium. Only on Sunday, they will be playing for the grand prize in the ICC Champions Trophy final after the Black Caps comfortably beat the Proteas by 50 runs in the second semi-final at the Gaddafi Stadium in Lahore on Wednesday evening. It was the Proteas’ fifth despairing defeat in an ICC Champions Trophy semi-final. Despite David Miller’s 67-ball unbeaten 100, the Proteas were hardly ever in the contest from the moment captain Temba Bavuma lost the toss on a docile surface. Rachin Ravindra (108) and Kane Williamson (102) took full advantage of the batter-friendly conditions with sublime centuries, and coupled with cameos from Daryn Mitchell (49) and Glenn Phillips (49…

Gautam Gambhir was a feisty character during his playing days. He was frequently involved in altercations with both opponents and teammates alike. Growing older and going in to become a mentor and coach has done nothing to dim the fire that needs very little touchpaper to spark it yet again. Gambhir also doesn’t care who he challenges. Just ask Indian legend Virat Kohli and his current bowling coach, former Proteas fast bowler Morné Morkel. And anyone who has ever had any engagement with Morkel will take an oath that the gentle giant would not even pick a fight with a fly. But even taking into consideration Ghambir’s trademark hostile persona, his unprovoked attack on journalists after India’s ICC Champions Trophy semi-final victory over Australia in Dubai bordered on insanity. Gambhir…