Table of contents for 2025-02-03 in Cape Times

South African miners reaped significant rewards on the Johannesburg Stock Exchange (JSE) as the price of gold surged past the psychological barrier of $2 800 (R52 250) per ounce, registering a 1.8% increase on Friday. This impressive rally, which has seen the yellow metal’s prices climb over 35% in the past year, underscores a growing trend of investors seeking safe-haven assets amidst turbulent economic conditions. While gold led the surge, it was the platinum group metals (PGM) and diversified miners that dominated trading on Friday. Impala Platinum and Northam Platinum each posted gains exceeding 5%, while Sibanye-Stillwater rose by 4.7%. Notably, Anglo American Gold and Harmony Gold also saw appreciable increases of 3.7% and 2.9%, respectively. This uptick in miner performance highlights how closely linked market dynamics are to fluctuations…

RMH Holdings doubled CEO Brian Roberts and chief financial officer Ellen Marais salaries and rewards in 2024 as the company seeks to retain senior executives although there was no adjustment to the executive directors’ fixed pay. RMH also did not pay any short-term incentives, while executive directors did not receive any new annual long-term incentive. However, due to the special dividend paid in January 2024, new replacement awards were made to compensate for the value that participants lost on their historically awarded awards. As CEO, Roberts’s salary went up from R2 million in 2023 to R4m in 2024 while incentives and share schemes brought up his total awards for the year to R18.7m compared to R13.8m a year earlier. The total awards for Marais also went up from R6.9m in…

This is how it looks when the largest economy in the world is run by a king. At the beginning of the year, I noted: “[t]his [Trump] is a man with an incredibly tenuous grip on how global trade works, yet he will attempt to wield tariff policy like a weapon to intimidate other countries into doing what he wants them to do. “How he treats his allies is particularly important to watch. If he comes out of the gate swinging at Canada and Mexico, as he has threatened, the message will be clear to all. But this is not his first term, and although the US is the world’s largest economy, it is incredibly dependent on these two trading partners: Canada for oil and Mexico for manufacturing capacity. “You…

The return of loadshedding this weekend is a timely reminder that despite the excellent work in turning Eskom around over the past few years, it remains fragile and needs our collective support if we are to ensure the economy has the reliable and affordable electricity it needs to grow, create jobs and provide the tax revenue public services require to function. We have seen steady progress over the past two years, where not long ago loadshedding was the norm and we reached the peak of 12 hours a day. The government, led by the ANC, has done well to help Eskom stabilise and rebuild. The efforts of various Ministers, the management team of Eskom, and most importantly Eskom and municipal employees must be applauded. The fact that the economy…

As Valentine’s Day approaches, love is not just in the air; it also wafts enticingly from the oven. For couples seeking to create a truly memorable celebration, embracing the foodie way of hosting can add an extraordinary touch to this special day. By hosting a thoughtful and delicious evening, you can express your affection in ways words often cannot encapsulate. Remember, it’s not just about the food; it’s about cherishing the moments you share. From gourmet meals to exquisite desserts, here’s how to create an unforgettable dining experience right in the comfort of your home. Setting the scene Before the cooking begins, setting the right atmosphere is key. Transform your dining space into a romantic setting. Soft lighting is essential: think fairy lights or a few strategically placed candles to…

The Special Investigating Unit (SIU) has announced plans to initiate legal proceedings to nullify a contract that allowed the United Arab Emirates (UAE) government to utilise intellectual property from South Africa’s state-owned defence enterprise, Denel. This after a recent briefing to the standing committee on public accounts, where the SIU outlined various ongoing investigations into Denel and the Department of Defence. Leonard Lekgetho, SIU’s chief operating officer, emphasised the significance of the issue, stating, “We will be instituting a civil litigation process through the Special Tribunal to set aside the decision or resolution and interdict the use of South African intellectual property by the UAE government, which is valued at R320 million.” The alarming loss of Denel’s intellectual property, as outlined by SIU head Andy Mothibi, poses a serious concern…

PRESIDENT Cyril Ramaphosa will have to walk a tightrope when he delivers his first State of the Nation Address (SONA) under the Government of the National Unity (GNU), having to please GNU partners as well as allies within the Tripartite Alliance. Ramaphosa’s SONA address to the joint sitting of the National Assembly will take place at the Cape Town City Hall at 7pm on Thursday. It will be held against the backdrop of last week’s Cabinet Lekgotla, which set out the government’s programme of action for the year as guided by the GNU’s Statement of Intent amid tensions within the coalition government over key legislation. University of North West political analyst Professor Andre Duvenhage said this year’s SONA is going to be extremely difficult because it will be the first…

WHILE the arrest of suspects allegedly involved in robberies along the Lower Church Street bridge in Woodstock has been welcomed, cyclists have been urged to ride in groups and still remain alert while in the area at all times. Cyclists have been sounding the alarm about attacks and robberies along the M176 since November last year. The attacks prompted the police to urge cyclists and pedestrians to remain vigilant. SAPS Spokesperson Wesley Twigg said that following numerous complaints of robberies, Woodstock police compiled an operational plan to deal with the situation. “An integrated operation between SAPS and other law enforcement agencies was conducted on Friday morning, which resulted in the arrest of several suspects. “During this operation, 18 undocumented persons were arrested. The members conducted searches and arrested three suspects…

Nowadays, TS Galaxy make light work of Cape Town opposition. Earlier this week, Galaxy sent Vasco da Gama packing with a 7-0 hiding in a Nedbank Cup clash and on Sunday they defeated Cape Town City 2-0 in a Betway Premiership match at the Mbombela Stadium in Nelspruit. The result ensures the Rockets move into 10th place on the log and City drop down to seventh place. Adnan Beganović, Galaxy's Bosnia-Herzegovina coach, sent out his charges to take the game to the Mother City visitors. Instead of lying deep, City tried to adopt a similar approach and the game oscillated between one end to the other, with Galaxy looking the likelier to score. By the time the first half reached the halfway mark, Galaxy had managed four shots at goal…

Manchester United's woeful home form this season continued as they slumped to a 2-0 defeat by Crystal Palace in the Premier League on Sunday. Despite United chasing a fourth successive win in all competitions, Palace were the superior side in the first half at Old Trafford, passing up several chances to capitalise on their dominance. The visitors did make one count after 64 minutes, Jean-Philippe Mateta reacting first after the ball had come off the crossbar to give his side a deserved lead. United upped the ante in search of an equaliser but lacked ideas, with Mateta condemning the hosts to a seventh home league loss this term with a late second helping Palace climb above 13th-placed United into 12th in the standings. "The result is really bad," United manager…

South Africa’s 90-day visa waiver and the Trusted Tour Operator Scheme is encouraging Chinese visitors back into the country and breathing fresh life into the tourism industry, after 1 200 guests descended on Sun City over the weekend to celebrate the Chinese New Year. Under the Government of National Unity (GNU), South Africa has waived the requirement for visa applications to be made in person in India and China, allowing these to be done via tour operators. This, Sun City general manager, Brett Hoppe, told Business Report will help bring Chinese tourists into South Africa, which will create jobs. “The more tourists we can put on the ground, the more people we can employ,” he said. This is the third year in a row that Sun City held Chinese New…

Equity markets can be complex to navigate, influenced by macroeconomic factors, regulatory changes, corporate actions, and earnings releases. While earnings remain the key driver of sustainable share price growth, market overreactions or underreactions to these developments often lead to price fluctuations, which present opportunities to investors. Barloworld’s takeover offer On December 11 , Barloworld received a firm offer from Newco. The offer was to acquire its issued shares entirely. The offered price of R120.00 per share represented a significant premium over the previous day's close. The announcement was met with optimism, driving Barloworld’s share price up by 15.5%. However, the proposed deal has encountered resistance from a Barloworld shareholder (with an ownership of 17.8%) who has expressed their unwillingness to tender its Barloworld shares unless the consortium offers at least…

It was a week of drama around interest rate decisions across the globe. The US Federal Reserve did not adhere to the Trump administration's calls to lower its bank rate and kept it unchanged. The expected decrease in the repo rate by South Africa’s Monetary Policy Committee (MPC) was announced and the European Central Bank (ECB) cut its ECB deposit rate by twenty-five basis points. The price of gold surged to a new record level as investors fled to it as a haven. The US Fed argued that there is no need for a cut in rates now, as all the macroeconomic indicators, especially core inflation and the unemployment rate, are stable and well-balanced. As expected, US President Donald Trump poorly received the move. Shortly after the Fed announced its…

AYO Technology Solutions, a leading South African ICT investment holding group, has announced a delay in the release of its audited financial results for the year ended August 31, 2024 mainly due to the resignation of a joint auditor. Initially scheduled for publication around January 31, 2025, the company now expects to release its full financial results on or about February 14, 2025. AYO said in a Stock Exchange News Service statement on Friday that the delay is attributed to several factors that have impacted the completion of the audit process. Key reasons for the setback include: n Resignation of joint external auditor: AYO’s joint external auditor, Thawt Inc, resigned on October, 30 2024, resulting in unavoidable disruptions to the audit process. n Appointment of new chief…

Capitec Bank Holdings once again vindicated the strength of its share price after predicting a strong 28% to 32% rise in headline earnings for the year to February 28, 2025, boosted by lower credit losses. The bank, formed in 2001 and which revolutionised banking at the time with its paperless bank products, anticipates headline earnings will be between 11 739 cents and 12 106 cents a share, compared to 171 cents a share for the comparative year ending February 28, 2024. The forecast percentage increase, although strong, is slightly below the 36% rise in interim headline earnings per share to 5 544 cents reported for the six months to August 3, 2024. The bank has increased headline earnings per share for 18 consecutive years. The share price nudged up 0.7%…

In today’s world, the role of doctors is undergoing a dramatic transformation. Medical professionals are no longer just the sole authorities on health and diagnosis; they are increasingly becoming collaborators, guides and educators in a healthcare landscape reshaped by the internet, social media and self-diagnosis tools. Platforms like Google, TikTok and even YouTube significantly influence how people approach their health, creating a complex dynamic between patients and physicians. The rise of Dr Google It’s no secret that people often turn to Google when they experience a strange symptom or they feel unwell. According to a Pew Research Center study, about 73% of internet users in the US have searched for health information online, with over a third of them trying to self-diagnose their symptoms. For many, this is a way…

Four police officers accused of aiding illegal mining kingpin James Neo Tshoaeli, also known as "Tiger", in Stilfontein to escape are awaiting their fate as their supervisor is expected to decide whether to suspend them and take further disciplinary action. This was according to National Commissioner Fanie Masemola who provided an update on successes registered by the SAPS during Safer Festive Season operations at a media briefing in Pretoria yesterday. The four officers were arrested during the ongoing Operation Vala Umgodi by the SAPS anti-corruption unit in the North West province. They appeared before the Stilfontein Magistrate's Court on Friday and were granted bail of R1 000 each. They are scheduled to return to court on March 5. Masemola said following the SAPS's discovery of Tiger's escape, North West…

Join the rhythm of history and the pulse of future sounds at the Cape Town International Jazz Festival 2025—where legends and rising stars unite in a celebration of music, culture, and connection. This year’s festival, set for April 25 and 26 at the Cape Town International Convention Centre (CTICC), embraces the theme “Legacy Meets Tomorrow” —a tribute to the festival’s rich heritage and its evolving future. From its humble beginnings at the Good Hope Centre, where it welcomed just 6000 attendees, to becoming Africa’s Grandest Gathering, the CTIJF has grown into a world-class showcase of jazz excellence. At the heart of this year’s campaign is a beautifully shot video featuring celebrated saxophonist Don Vino Prins and award-winning pianist Kyle Shepherd—two musicians whose careers have been deeply intertwined with the festival’s…

United Rugby Championship (URC) action returns to South Africa on Saturday and the stakes could not be higher for the struggling Stormers when they host a Bulls team that has rediscovered winning ways. The Cape team languishes in 12th place on the points table with eight rounds to go and technically they can still make eighth place (the last play-off spot) if they put together a winning streak. That is easier said than done given that the Stormers suffered a blow to their confidence after dismally failing in their attempt to beat a second-string Leinster side in their last outing. The Stormers had targeted that game (key players were rested the week before) but on the night they were not at the races. Before that match, Stormers coach John Dobson…

MI Cape Town: 201/5 Sediqullah Atal 74; James Neesham 3/32 Pretoria Capitals: 106 all out James Neesham 32; Thomas Kaber 3/27 MICT beat PC by 95 runs An unfamiliar looking MI Cape Town dominated Pretoria Capitals at the picturesque Newlands Stadium on Sunday afternoon, handing the Highveld team a hevy defeat to finish the SA20 round robin stage on a high ahead of their all-important play-offs later this week. With MICT having qualified early for the play-offs, coach Robin Peterson made seven changes to his usual playing XI, resting experienced heads, including Kagiso Rabada and Rassie van der Dussen, while awarding opportunities to younger players, including former South Africa Under-19 fast bowler Tristan Luus. At the top of the order, Peterson unleashed 23-year-old Afghanistan international, left-handed batter Sediqullah Atal, to…

SA infrastructure projects worth over R4.2 billion are proceeding along the Maputo Corridor Trans Africa Concessions N4 (TRAC), the South African company that manages the highway from Pretoria to the Port of Maputo, has confirmed that it is on schedule this week to begin the R1.2 billion major expansion of the 66km stretch from Ressano Garcia to the Tchumene Interchange. The deal is based on a concession agreement signed with the South African and Mozambican road agencies TRAC has contracted WBHO for the project, despite targeted spillover protests from disputed elections, as the pace of infrastructure projects accelerates. TRAC N4 spokesperson Solange Soares said the company was only able to resume toll fee collections over a week ago due to the protests, which last week led to an attack on…

South Africa’s national elections last year were a defining moment for our democracy, filled with a number of ambitious promises directed towards voters in our country. As the dust settled on the campaign trails and the posters were taken down, citizens were awarded with a new Government of National Unity, but left with the weighty question: what happens next? Because democracy does not end with an election; it remains an ongoing commitment that the governed, and those elected to govern, engage in daily. As President Cyril Ramaphosa prepares to deliver the annual State of the Nation Address (SONA), South Africans shouldn’t merely tune in with passive interest. Instead, they must engage with a critical ear, weighing the administration’s words against pledges made on the campaign trail. A government is only…

In December 2006, statisticians had a close brush with the aftermath of the five-nation war in the Democratic Republic of Congo. This was a war that had started in 1998 and ended around 2003. It weighed heavily on the nascent Africa Symposium for Statistical Development (ASSD), which had just launched in January 2006, and almost aborted it at birth. It was a war that pitted brother against brother, sister against sister, brother against sister, and sister against brother – a grand colonial project that ensured the colonised would fight each other in perpetuity. The colonial seed was potent and survived all seasons. The Southern African Development Community (SADC) chair, President Nelson Mandela, was pitted through this war against the chair of the SADC Security Organ, President Robert Mugabe of…

Packaging group Nampak’s share price shot up by 7.34% on Friday after it announced the conclusion of the sale of its subsidiary Bevcan Nigeria for R1.27 billion. On June 28 last year, the group said shareholders had at a meeting approved the disposal of the share capital of Nampak Bevcan Nigeria and the loans advanced by Nampak Nigeria Holdings to Bevcan Nigeria. The business was being sold to Alucan Investment, a private company incorporated in Singapore. “This is a material milestone in de-leveraging the group's financial position, a reduction in the group's historic risk profile, and a positive step change to the leverage ratio. This allows for the refocusing of the group's efforts on the core Metals Group, and in so doing, unlocking further shareholder value,” Nampak’s directors said on…

Transnet will significantly boost rail capacity to transport an additional six million tons (Mt) this year, according to Sikhulekile Duma, a director in the Project Management Office in the Presidency. When asked by Business Report how the additional six Mt would be allocated among bulk exports of coal, iron ore, and manganese ore, Duma was unable to provide specifics. Duma, speaking at the 20th McCloskey Southern African Coal Conference held in Cape Town last week said that economic reforms initiated in October 2020 under Operation Vulindlela (OV) were beginning to yield tangible results, with one of the most notable achievements being Eskom on the whole keeping the lights on since March 2024. Duma highlighted that the foundation of OV was the National Treasury Growth Paper published in 2019, underscoring the…

ANC first deputy secretary-general Nomvula Mokonyane, during her keynote address at the 113th anniversary January 8 statement celebration in Pietermaritzburg, KwaZulu-Natal yesterday, shared that some people were destroying the ANC from within. Mokonyane said that in a meeting on Saturday, someone spoke out and said a party member working in the constituency office called them and told them which party to vote for. “This wasn’t someone who wants to be liked, it’s a community leader who was canvassed by people who work for the ANC... the person who was on your payroll is the one who was running the call centre in the office of the ANC to tell people to vote for the other party... It’s someone we wouldn’t have thought of but people told us and showed us…

More than 20 years ago, Linda Moses, from Gugulethu, travelled the world as a theatre performer, but a car accident left him maimed - dashing much of his career hopes. All that was left of his front teeth were tiny fragments. He lost his confidence and carried deep-seated sadness. But things changed when the UWC Mobile Dental Clinic showed up in his neighbourhood. “I feel like a free man again, I can smile with confidence. It feels like they took my pain away,” Moses said last week. He was referring to the dental students who assisted him. The students were doing their community service thanks, in large part, to a generous R4.01-million donation from Islamic Relief SA (IRSA). It was a welcome return to the neighbourhood. The mobile clinic’s last…

THE 15, 22 and 23-year-old alleged victims of a Khayelitsha pastor who faces charges of rape and assault, are safe and receiving treatment and counselling. This was according to police who confirmed the man is expected to return to the Khayelitsha Magistrates’ Court on Wednesday for a bail application. The pastor from Endlovini was arrested after being accused of raping and impregnating a child and young women, which sparked protests in the community. SAPS spokesperson Wesley Twigg said that the Khayelitsha Family Violence Child Protection and Sexual Offences Unit swooped on the pastor after claims were made that he assaulted and raped victims at his church between November 2022 and January 2025. “It is alleged that people would go to the pastor for healing and he would tell them healing…

Jose Riveiro is coolness personified. He is not sweating over the fact that they are the team to beat this season, as they’ve exuded confidence since the start of the 2024/25 campaign. Orlando Pirates earned the country’s bragging rights on Saturday as they beat arch-rivals Kaizer Chiefs 1-0 in the Soweto derby at a sold-out FNB. This result, which was sealed by Patrick Maswanganyi’s Panenka in stoppage time, also ensured they won their 10th Betway Premiership game after 12 outings. It also ensured that they remain on course to challenge for the title, and also an unprecedented quadruple. Pirates have already won the MTN8 – for a record third time in a row – and they are challenging for the league, the CAF Champions League and third successive Nedbank Cup…

England’s Roses wilted under the relentless pressure of the Proteas, who secured a 61-59 win in Sunday night’s thrilling Netball Nations Cup clash at Nottingham’s Motorpoint Arena. The Proteas top the standings in the four-team tournament after their convincing opening 70-45 win over Uganda. England had begun their campaign with a 62-36 win against Malawi but found the African champions a far more difficult prospect. The Proteas started well but England were determined to cut off the passing lanes, forcing the Proteas back at times. Nonetheless, the Proteas took an early 6-3 lead thanks to another strong shooting display by goal shooter Elmere van den Berg. Their fast-paced, energetic game clicked into gear, displaying the mid-court hustle and transitions that have become a feature of their play under coach Jenny…