Sommaire pour 2025-06-25 de Cape Times

Transport Minister, Barbara Creecy, has revealed that Transnet has approached the National Treasury for significant short-term infrastructural development funds in a bid to tackle deep-rooted challenges within South Africa's rail system. This appeal for funds required in July and October aimed to expedite tonnage haulage and improve revenue generation for the struggling rail entity. Appearing on the PSG Wealth Think Big interview on Tuesday, Creecy highlighted these urgent financial requests amid rising concerns expressed by Moody's Ratings agency last month. The agency pointed to Transnet's unsustainable capital structure, deteriorating liquidity position, and the lack of clarity on future government support, compounded by slower-than-anticipated operational improvements. Creecy stated that concerns would persist without new investments in rail infrastructure, hence Transnet has put in a request "to the budget facility for infrastructure,…

Lungelo Lethu Human Rights Foundation condemns banks legal action against homeowners South Africa’s major banks will finally defend themselves in court over claims that they repossessed hundreds, if not thousands, of people’s homes and sold them far below market value, cheating them of the earned interest on those properties over years. This comes as the South Gauteng High Court in Johannesburg has set down the matter, which is a R60 billion class action suit, against the country’s major banks to be heard in February 2026, nearly a decade after it was launched in 2017. This legal challenge aims to hold financial institutions accountable for pri- oritising profit recovery above the rights and dignity of homeowners.. Advocate Douglas Shaw from Banking Law Advisor and the claimants’ representative confirmed to Business Report…

Investor sentiment towards South African platinum miners has shown a marked improvement recently, buoyed by a significant rise in platinum prices, signaling a potential shift in the market landscape. After enduring a protracted period of depressed investor interest driven by low prices and concerns about the market’s stability—largely influenced by the increasing popularity of electric vehicles—platinum group metals are experiencing a notable resurgence. Mining analyst Keenen Du Toit this week said that the platinum prices this month “jumped to $1 300 per ounce – the highest since 2014” although “still significantly lagging the big move up” in gold. “Historically the PGM basket price has traded closely to gold, and even above in many cases,” said Du Toit. Now, South African fund managers surveyed by Bank of America (BofA) Securities said…

Capital Appreciation’s payments and software divisions attracted new clients, initiated new projects with existing clients, and renewed long-term contracts, the fintech group’s annual results for the year to March 31 showed. Investors appeared heartened by the results, as the share price had risen 8.43% to R1.80 per share by Tuesday afternoon, while the JSE All Share Index was up by only 0.53% at the same time. Capital Appreciation's share price has gained 45% over a year. “Capital Appreciation’s businesses are well positioned, and the prospects are encouraging. With the pace of technological advances and the digital transformation needs evident throughout the economy, we anticipate the current prospective pipeline will transform positively as further business,” CEO Bradley Sacks said in a statement. He said that over the past eight years, they…

AH-Vest minority shareholders are being offered 55 cents a share in cash as part of plans to delist the company, a price that represents a whopping 1833% premium over the 3 cents market price when the company first cautioned about a possible transaction. The shares traditionally trade very rarely, and on Tuesday, they were still untraded at 3 cents a share, despite the announcement of the plans to delist via a scheme of arrangement. AH-Vest is a South African food manufacturing company best known for its range of sauces and condiments, including its All Joy brand. The plan to delist from the JSE’s AltX board comes at a time when the JSE has undertaken several initiatives to make it easier and less costly for small and medium-sized businesses to list.…

THE man dubbed Western Cape’s most wanted suspect allegedly provided a false address to the State and has a pending matter against him, according to the National Prosecuting Authority (NPA). This is among the grounds the NPA relied on when it indicated that it would oppose the release of Vuyolwethu Tshukela, known as ‘Yesu’ on bail when he made a brief appearance before the Athlone Magistrate’s Court yesterday. The 38-year-old was arrested in Welkom, Free State, after months on the run and has since been charged with murder, two charges of extortion, and one charge of attempted murder. “He is a flight risk and does not have a fixed address. The address he provided turned out to be false, and there is an indication that he has…

Tuesday marked the 30th anniversary of the Springboks’ 1995 Rugby World Cup triumph. Who could forget June 24, 1995, the epic final against the All Blacks at Ellis Park? Since then, there has been a remarkable period of success for the Boks, with John Smit’s Class of 2007 conquering the world in France, and then Siya Kolisi’s band of warriors in 2019 in Japan and 2023 in France once more. I was fortunate enough to be at the 2019 edition, and it was an unforgettable seven weeks reporting on the Springboks. The Boks’ trophy success, especially under Rassie Erasmus’ watch over the last few years, has been as impactful on the pitch as it has been off it. But it doesn’t mean that it was always smooth sailing. In any…

The National Treasury has called for more cooperation among the Group of 20 (G20) countries for the benefit of low-income economies on the back of escalating geopolitical tensions. This call comes amid concerns that ongoing conflicts—particularly in the Middle East, a crucial region for global oil supply—and heightened trade tensions between the United States and China are casting a long shadow over the global economy. Speaking at the opening day of the Supreme Audit Institutions of the G20 nations (SAI20) on Tuesday, deputy finance minister David Masondo reflected on the recent G20 finance meetings, where the global economic landscape was painted with uncertainty due to geopolitical tensions and trade fragmentation. Masondo said the G20 had to play a central role in fostering stability and strategic direction during this period of…

The world is facing the "most complex" geopolitical situation seen in decades, the head of the World Economic Forum (WEF) told AFP Tuesday, warning that turmoil was "impacting global growth". "It is the most complex geopolitical and geo-economic backdrop we've seen in decades," WEF President and CEO Borge Brende said ahead of a meeting of the multilateral forum in the northern Chinese city of Tianjin. "If we are not able to revive growth again, we can unfortunately see a decade of lower growth," he warned. Officials including Singaporean Prime Minister Lawrence Wong will attend this week's WEF meeting in the port city of Tianjin - known colloquially as the "Summer Davos". The meeting comes hard on the heels of the US' involvement in the Iran-Israel conflict and follows months in…

South Africa’s Home Affairs Department is facing a backlash from fintech TymeBank over its decision to raise fees for real-time identity verification services by 6 500%, a move it argues is necessary to safeguard national security and fix a failing system. Digital lender TymeBank on Tuesday accused the government of adopting an “anti-poor” and “anti-competitive” policy after the Department of Home Affairs gazetted new tariffs for banks and financial institutions accessing the National Population Register (NPR). The bank said the sharp increase in costs – from R0.15 to R10 per real-time verification – would unravel years of progress in digital transformation and financial inclusion. TymeBank co-founder and CEO Coenraad Jonker warned that the new fees, effective July 1, would make it impossible to offer South Africa’s only accessible, zero-fee bank…

JUWI Renewable Energies, a global renewable energy leader, on Tuesday announced that it has signed two solar module supply agreements with JA Solar, one of the world’s leading manufacturers of high-performance photovoltaic (PV) technology. The deal is for nearly 420 000 solar panels for two large-scale projects totalling 220 MW, currently being executed for major industrial energy users including Glencore, Sasol and Air Liquide. The projects include the 100 MW Sonvanger Solar Plant for Glencore, developed in partnership with Pele Green Energy, and the 120 MW Paarde Valley PV2 project for Sasol and Air Liquide, delivered with TotalEnergies, Mulilo and Reatile Group. Together, the projects will come online in late 2026 and use enough solar panels to cover over 160 rugby fields. The latest milestone forms part of JUWI’s broader…

Construction markets in Zimbabwe and South Africa are expected to continue on a growth trajectory, providing a strong background for companies such as PPC that are ramping up competitiveness to stand better prospects against imports. Data from researchers on Tuesday showed that the South African cement market reached approximately 13.78 million metric tons in 2024 and “is expected to grow steadily” over the coming 10 years, with an annual growth rate of 2.50% projected from 2025 to 2034. Zimbabwe has also seen a booming construction sector with government projects and the retail sector, as well as residential housing sector providing impetus. This was benefiting construction industry companies such as cement and brick manufacturers among others. Matias Cardarelli, the CEO of PPC, said the company was cautiously optimistic of the infrastructure…

LAWYERS representing suspended Road Accident Fund (RAF) chief executive Collins Letsoalo have argued that their client’s reputation and integrity is at stake if his application to be reinstated in his position is not urgent. His advocate, Pule Moshoadiba SC, told the Gauteng High Court, Pretoria that Letsoalo will not be afforded substantial redress at a hearing in due course, as his contract of employment is expiring on August 6. “Beyond this date, the applicant would not have an opportunity to clear his name and exercise his right to challenge the lawfulness of his suspension. This means that the reputation and integrity of the applicant would remain severely dented because of the suspension, which is automatically coming to an end on August 6,” Moshoadiba said. He told Judge Nasious Moshoana that…

DA leader John Steenhuisen once again played his cards close to the chest when asked about his future as the DA leader, saying the 2026 local government elections would be “a very good ending point” for a particular leadership career. “I inherited a party in 2019 from a leader who had walked off the job, leaving the party at 16% in the polls, with many declaring it the death of the DA,” said Steenhuisen. “We’ve been able to turn the party around. It’s now a party in the national government. I’d like to continue, I’d like to finish what I’ve started.” “I’d like to lead the party into the local government elections, and I think the DA’s best days are still ahead of it. What it needs now is…

THE Western Cape High Court has granted two rapists an appeal against their sentences for robbery with aggravating circumstances and had their sentences for these crimes discounted. They will, however, remain behind bars as they continue serving life sentences for the rapes of their victim. The two were co-accused in a trial matter before the Wynberg Regional Court where they faced charges of robbery with aggravated circumstances, compelling or causing children to witness sexual offences, housebreaking, and rape. During court proceedings and before trial, they pleaded not guilty to all the charges and offered no plea explanations. The two men were arrested in 2021 after they broke into the homes of two women in the Marikana informal settlement, in Philippi East. The woman was inside her shack…

The latest Quarterly Employment Statistics (QES) released by Statistics South Africa (Stats SA) for the quarter ended in March has raised significant concerns as the report reveals a downturn in employment figures, exacerbating fears about the health of South Africa’s economy. According to the findings, a total of 74 000 jobs were lost in the first quarter of 2025, signalling a decrease of 0.7% from December 2024, where total employment stood at 10 653 000, dipping to 10 579 000 by March. The decline is largely attributed to substantial job losses in key sectors, including trade, which saw a steep reduction of 52 000 positions, and community services, which lost 17 000 jobs. The mining sector also contributed to this downturn, shedding 4 000 jobs, while business services, construction, and…

The ongoing conflict in the Middle East continues to unsettle markets – but perhaps to a lesser degree than investors feared. Despite the intervention of the US, markets’ reaction has been contained. Oil prices initially rose, reaching over $81 (R1465) a barrel, but quickly fell back to their range of the previous week. Global conflict often transmits into wider economic and market performance via inflation, and energy prices are a key contributor. This is why, during geopolitical flashpoints, the oil price becomes a point of focus. What factors are influencing oil prices in relation to today’s Middle East crisis? Oversupply of oil keeps prices under $80 a barrel. The global economy currently enjoys a healthy oil surplus. This helps keep prices in the mid to low $70s, a historically moderate…

While South Africa faces many social and economic challenges, such as food insecurity and high unemployment rates, agriculture remains a vital economic sector for our growth, development and sustainable livelihoods. The stakes are exceptionally high as the effects of climate change continue to ripple across various economic sectors. Addressing this crisis is no longer about environmental stewardship but an imperative to ensure equity, resilience, and prosperity for all South Africans. Our agricultural sector is already bearing the brunt of a rapidly changing climate including as a result of disruptions in value chains which the sector needs to operate with optimally productivity. Rising temperatures, unpredictable rainfall, and increasingly frequent extreme weather events such as droughts, floods, and storms are now commonplace. These disruptions reduce yields, shift growing seasons, and exacerbate pest…

South African executives are operating in an environment of “constant crisis”, with rising compliance and political risks adding to the geopolitical, scarce skills, growing regulatory burden, low economic growth, and environment risks that are being faced by their global peers. This was according to Richard Walker, BDO South Africa's National Head of Risk Advisory Services, who spoke on Tuesday about the main findings from BDO’s newly released Global Risk Landscape Report 2025. The report found that while 84% of 500 senior global executives describe their operating environment as one of "constant crisis," only 7% feel genuinely proactive in their risk management approach. The need to continually adopt a cautious approach may come at the cost of growth and competitiveness in the business," said Walker in a presentation. The global risk…

ANC alliance partner, the South African Communist Party (SACP) has weighed in on the tense Middle-East standoff, condemning the US military attacks on Iran. “In condemning attacks on Iran and genocide on the Palestinian people by Israel, on 14 June 2025, the SACP appealed to the international community not to be silent in the face of the warmongering United States-backed apartheid Israeli settler regime but to condemn the violations. The SACP reiterates this same call against the United States’ militarism, unilateralism and violations of others’ rights,” said SACP spokespersonMbulelo Mandlana. Their statement came as US President Donald Trump expressed anger and disappointment over the fragile ceasefire between Israel and Iran. Trump took credit for having brokered the ceasefire, but it appears to have faltered mere hours after its announcement. Speaking…

From the intensity of local competition to the bright lights of continental football, Mamelodi Sundowns have grown into one of South Africa’s most successful and respected clubs. Their dominance at home has been matched by a hunger to make their mark internationally — most notably with their 2016 CAF Champions League triumph, a victory that made headlines across Africa and announced their arrival on the global stage. Now, in just their second appearance at the Fifa Club World Cup, the Brazilians find themselves on the verge of another milestone. With a proud record already behind them, they head into their final group stage clash against Brazilian giants Fluminense at the Hard Rock Stadium (9pm kick-off) on Wednesday, aiming not just to compete, but to add another memorable moment to their…