Cape Times 2025-01-29

Tiger Brands announces plans to sell 24.38% stake in Empresas Carozzi for $240 million (about R4.4bn) Tiger Brands’ R4.4 billion sale of its investment in Chile-based Empresas Carozzi might result in its shareholders benefiting from share buybacks or special dividends once the group’s investment requirements are met. On Tuesday, Tiger Brands announced plans to sell its 24.38% stake in Empresas Carozzi for $240 million (about R4.4bn) to the parent of the Chile-based company, the Santiago Stock Exchange listed Carozzi S.A. The South African manufacturer and marketer of fast-moving consumer goods has well-known brands in the country, including Koo, Fattis and Monis, Jungle Oats, Enterprise and Oros. The group said on Tuesday that the sale was part of its decision made only last month, to revise strategy and focus on operations…

The Airports Company of South Africa (ACSA) has called on the Department of Mineral Resources and Energy (DMRE) to develop and implement a policy regarding strategic jet fuel reserves, especially given reduced local oil refinery capacity. ACSA’s group executive of airport operations management, Terence Delomoney, told media at a briefing on Tuesday that, without such a solution, “then we run into trouble”. Delomoney’s comments follow the shutdown of the National Petroleum Refiners of South Africa (Natref), which caught fire on the January 4 and is only expected to be operational again on February 20. Natref supplies some 72% of OR Tambo’s jet fuel requirements. In the interim, ACSA has secured 121.1 million litres of jet fuel for use at OR Tambo International Airport (ORTIA). The airport typically uses 3.6 million…

South Africa is steering clear of significant ramifications from an outbreak of Goss wilt in maize and Gut rot in palm products, threatening the integrity of a continental agricultural produce market valued at more than $13.2 billion (R250bn). This month, neighbouring Botswana and Namibia hastily imposed bans on critical imports following the detection of the aforementioned crop diseases in South African provinces, raising alarms about its implications for local and regional food security. With Namibia’s recent ban coming into effect last Friday, the stakes became apparent as South Africa found itself on the verge of losing substantial export volumes. The affected crops encompass approximately 155 882 tons of white maize and 46 969 tons of yellow maize for the 2024/25 season. Namibia, which has historically been South Africa’s second-largest white…

Makgosi Mabaso has been appointed as Openserve’s Chief Commercial Officer (CCO), effective 1 January 2025, the company announced on Tuesday. “This marks an exciting new chapter for the organisation that is leading the way in wholesale connectivity solutions in South Africa,” Openserve said in a statement. Makgosi is no stranger to Openserve or this position. Between 2018 and 2019, she successfully held the CCO role before moving to the Telkom Group CEO’s office, where she provided vital strategic support. Most recently, she served as Managing Executive for Telkom Business and Home Solutions within the Consumer Business Unit, where she played a critical role in delivering customer-centric solutions and driving operational excellence. “I am looking forward to driving our One Telkom strategy by leveraging synergies within the Group,” she said.…

Stats SA announced on Tuesday that it has shaken up the basket of goods and services used to measure consumer inflation. The products in the basket are updated periodically to better reflect shifts and trends in consumer spending. Product weights are also adjusted. The facelift includes adding 71 new products, removing 53 products and reorganising 29 products (through merging, splitting or reclassification). In total, there are now 391 products in the basket, down from 396. New food products that were added to the basket include basmati rice, meat bones, meat patties, chicken nuggets and ready-made meals. Items that were removed include ready-mix flour, flavoured milk, frozen potato chips and ground coffee/coffee beans. The new basket expands the coverage of education-related items. In the clothing category, Stats SA said…

As South Africa takes the helm of the G20 in 2025, it faces an unprecedented opportunity to champion agricultural reforms that resonate across continents. As the global spotlight turns towards transforming agrifood systems, enhancing food security, tackling climate change, and fostering sustainable development, South Africa can leverage its position to advance its own agricultural interests and elevate Africa’s agricultural aspirations on the global stage. The G20, a forum where the world’s largest economies come together, has long recognised the transformative power of agriculture in achieving economic growth, food security, and sustainability. However, the agricultural sector remains fraught with challenges, from protectionist trade policies and climate-related impacts to inadequate financing for smallholder farmers. For South Africa, a key player in global agriculture, this chairmanship represents a golden opportunity to drive policy…