Cape Times 2025-02-26의 목차

South African fund managers expect the delayed budget statement to meet expectations regarding policy reforms as they look forward to at least one repo cut this year while they forecast the rand to hit R17.60 to the dollar. Fund managers surveyed for the Bank of America South Africa Fund Manager Survey for February, 69% said they “expect the economy to get a little stronger” while 62% said they “expect inflation (to be) slightly higher” for this year. Fewer managers see the next rate cut by the South African Reserve Bank in the second quarter of the current year. However, the surveyed managers' repo forecast over the next 12 months rose in February to 7.19% compared to 7.18% previously. They have also forecast SA’s R2035 bond yields to ease to 10.08%.…

The Takeover Regulation Panel (TRP) has ruled that the DK Trust acted in concert with JSE-listed printing and packaging company Novus Holdings in its mandatory offer for computer and technology distribution company Mustek, also JSE-Listed, which was announced on November 15, 2024. The decision, detailed in a 34-page ruling by TRP’s deputy executive director, Zano Nduli, mandates immediate compliance with takeover regulations. The TRP concluded that the DK Trust’s irrevocable undertaking, signed on November 13, 2024, not to accept the mandatory offer or sell its Mustek shares until the offer closed, was “a critical enabler” of Novus’s R13-per-share bid. “The DK Trust’s waiver undertaking… reduced Novus’s financial exposure under Regulation 111 by approximately R123 million,” Nduli wrote, lowering the required bank guarantee from R458.9 million to R335m. This, the panel…

Over the past year, only two of the 16 key currencies monitored by Currencies Direct have proven to be more resilient against a resurgent US dollar than the South African rand. Between February 29, 2024 and February 24, 2025, the rand has strengthened by 4.6% against the world’s dominant currency, with only the Malaysian ringgit managing a better performance. In the process, South Africa’s currency has left the Euro, the British pound and all the currencies of the other BRICS nations floundering. The US dollar’s bull run towards the end of 2024 was caused mainly by expectations of higher economic growth, following the Republican Party’s victory in the presidential election. US President Donald Trump has promised to follow a growth-enhancing macroeconomic policy approach, which is likely to include tax reductions…

Atlantis Foundries, a leading African foundry, unveiled a massive embedded solar generation plant today in partnership with Energy Partners, as load shedding once again disrupts South African industries. The launch aims to bolster energy security for the export-heavy manufacturer. The 13.5 MWp facility, equipped with over 20 000 solar panels, will generate more than 20 000 MWh annually, covering 20% of the foundry’s power needs. At current Eskom tariffs, this translates to savings of over R35 million per year. The project also cuts CO₂ emissions by 21 000 tons annually, critical for a company responsible for 2% of AGOA exports and 4% of South Africa’s EU trade, facing growing international carbon regulations. “This project is a blueprint for manufacturers hit by the energy crisis,” said Energy Partners CEO Manie de…

Curro Holdings, the JSE-listed private schools group, saw a credible operating performance with strong cash flows during the 2024 financial year, but student number growth is weak, a trading statement showed Tuesday. Curro’s share price traded 2.38% lower to R12.30 on Tuesday midday at a time when the JSE All Share Index was 0.43% higher, but the price is still 16.5% above the price a year ago. Directors said consumer spend remains constrained, and the group's enrolment has not benefited from moderating inflation and the gradual easing of interest rates over the last few months. Nevertheless, Curro is in a healthy financial position, and recurring headline earnings per share are expected to increase between 9.3% and 17.5% for the year to between 80 cents and 86 cents a share, from…

WHOSE Budget was it anyway? We pose this question because the emerging narrative from the so-called Government of National Unity (GNU) would have South Africans believing that they were in the dark about what Finance Minister Enoch Godongwana was to present in the National Assembly until last minute disputes about a proposed 2% VAT increase. Godongwana has rightfully been thrust into the spotlight over what opposition parties and his colleagues in the GNU describe as a reckless proposal which would’ve hurt the poor the most. But our country could have been saved from costs and the embarrassment of having to postpone the Budget – for the first time in a democratic South Africa – at the eleventh hour if the GNU was as effective as it is often made out…

The much-anticipated Proteas and Australia clash at the ICC Champions Trophy was abandoned due to consistent drizzle throughout the day in Rawalpindi on Tuesday. Each side received one point with both teams moving up to three points, although the Proteas remain on top of the Pool B due to their superior net run-rate. There are three matches remaining in Pool B with England and Afghanistan set to lock horns on Wednesday before Australia meet Afghanistan on Friday. England and the Proteas close out the Pool B action on Saturday. Here's qualification scenarios for each of the four teams in the group: Proteas Temba Bavuma’s team are currently top of the log due to their comprehensive 107-run victory over Afghanistan that raised their NRR to +2.140. Victory over England on Saturday…

Western Province captain Kyle Verreynne is looking forward to a stretch of home games to keep their 1-Day Cup campaign flickering. The defending champions, who went seven games unbeaten last season to lift the trophy, have been rather inconsistent thus far. They have won just one out of three matches and are currently on five points to sit in sixth position on the table. However, they have two consecutive matches at Newlands against the Titans (on Wednesday) and Dolphins (Sunday) to get back into semi-final contention. “Two back-to-back home games I think is always really exciting. “We've been on the road now for the last game, so it's good to come home and get to play in front of our home crowd,” Verreynne said. “I think hopefully that gives us…

The Airports Company of South Africa (Acsa) has filed for leave to appeal a significant judgement delivered by the Gauteng High Court in November 2024, which has currently halted its efforts to procure essential baggage screening equipment through an open tender process. This legal manoeuvre signals Acsa’s determination to assert its constitutional mandate amid rising tensions within the aviation sector. At the centre of this judicial battle is Aviation Co-ordination Services (ACS), a consortium created by prominent airline associations, including the Airlines Association of Southern Africa (AASA) and the Board of Airline Representatives of South Africa (BARSA). The court has ruled in favour of ACS, permitting it to replace its back-up screening equipment while simultaneously interdicting ACSA from advancing with its plans to self-provide baggage screening equipment. This judgement will…

As South Africa takes on the G20 presidency for 2025, it has a unique opportunity to address two of the most pressing issues of our time: countering corruption and tackling illicit financial flows (IFFs) - the movement of money that is illegally acquired, transferred, or spent across borders. Deemed an opportunity missed by Brazil during its leadership tenure in 2024, corruption and IFFs undermine the continent’s progress towards the African Union’s Agenda 2063 and its ability to meet the UN’s Sustainable Development Goals (SDG) targets. South Africa’s G20 presidency offers an ideal platform to address corruption’s devastating impact on Africa and place it firmly on the global agenda. Corruption facilitated by professional enablers in the global financial system divert resources away from critical areas like healthcare, education, and infrastructure, leaving…

Perovskite technology is revolutionising the solar energy landscape, offering unprecedented possibilities from building integration to powering IoT devices. This comprehensive analysis explores how this emerging technology could transform the £220bn solar market and compete with traditional silicon-based solutions. Maia Benstead Solar power is one of the fastest-growing renewable energy technologies globally. With rising energy demands, decarbonisation goals, and concerns over energy security, this technology is set to account for a considerable portion of the energy market. Silicon-based solar technologies dominate; however, there is rising interest in an emerging technology known as perovskite. Perovskites have the potential to enhance existing silicon solar supplies, but which applications can perovskite solar be used for, and how will it compete in a market dominated by an already well-established technology? In a new report from…

The SolarButterfly, a Tesla Model X towing a solar-powered mobile home, visited South Africa’s first off-grid electric vehicle (EV) charging station in Wolmaransstad, in the North West province of South Africa, earlier this week. The stop came on Monday as Eskom reinstated stage 6 load shedding, underscoring ongoing power challenges in the country. The SolarButterfly, which began its global journey in May 2022, aims to cover six continents and 90 countries by December 2025 to promote renewable energy and combat climate change. Its 40 square metres of solar “wings” generate up to 7 kilowatts (kW) of power, with additional panels boosting output to 14 kW, enough for a 220-kilometre range, Zero Carbon Charge (CHARGE) announced in a statement earlier this week. For longer trips or cloudy days, it relies on…

Grindrod, the JSE-listed logistics services group, has identified a growth pipeline that includes several logistics infrastructure-led investment opportunities in South Africa valued at R8 billion. “Grindrod is uniquely poised to take advantage of the opportunities in the logistics space as South Africa progresses on its logistics network reform agenda,” the group said in a trading statement on Tuesday. The group is participating in the open access slots process across the rail network in South Africa. “The business will be discerning in the corridors it tenders for, evaluating the opportunities against a set of criteria including efficiencies, customer commitments, understanding of the corridor and the impact on the overall returns across the logistics value chain,” the directors said. The acquisition of the remaining 35% shareholding in Matola terminal in Mozambique for…

Purpose is far more than an abstract idea, it is the raw energy that shapes our lives and directs our shared future. Long before I donned the white coat, I was deeply involved in the struggle against apartheid – a battle for justice that ignited my lifelong commitment to uplift the oppressed. That early fight taught me that purpose is born long before formal education, emerging instead from the crucible of lived experience. In my early years as a doctor, I dedicated myself to healing individuals with genuine compassion. Yet, as I witnessed systemic inequalities that left entire communities unheard, I came to understand that real transformation demands a broader vision. I recall the moment I chose to step away from personal healing in medicine for a mission capable of…

One of the toughest things for Steven Kitshoff, after he decided to retire, was telling his coaches that he was hanging his boots up for good. Kitshoff (33) yesterday officially called time on an illustrious career with the Springboks, Stormers and Western Province. Although he still wanted to continue playing, a serious neck injury cut those ambitions short a year after he won a second Rugby World Cup with the Boks. He rejoined the Cape outfit at the start of the season after spending a 'gap year' at Ulster, and he was set to finish his career in the Mother City where it all began in 2010. The injury during a match for WP in the Currie Cup and subsequent advice from medical professionals following a successful fusion surgery made…

Devon Williams may be 32 already – and turning 33 in April – but he still has most of the pace that saw him emerge as a speedy wing for Western Province in 2013. Williams, who hails from Pniel – which is near Stellenbosch – was renowned for his finishing, but never got a proper chance to establish himself in the Stormers and WP teams, which led to him moving to the Pumas for a fresh start. It eventually turned into seven fruitful seasons, where he became a Currie Cup champion too, and Jake White and the Bulls came knocking in 2023. He is playing arguably the best rugby of his career at the moment, having settled into the fullback berth as first Kurt-Lee Arendse and then Willie le Roux…

VAT is seen as a regressive tax that disproportionally negatively affects the poor. South African Reserve Bank (SARB) Governor, Lesetja Kganyago, has cautioned that the proposed 2 percentage points increase in the value-added tax (VAT) would be treated as an “economic shock”. Last week, finance minister Enoch Godongwana was forced to postpone tabling the 2025 Budget Review in Parliament by three weeks as parties within the Government of National Unity (GNU) disagreed over the increase of VAT from 15% to 17% in a bid to raise an additional R58 billion in revenue. Speaking to the SABC on the sidelines of the G20 meeting of Deputy Ministers of Finance and Deputy Central Bank Governors in Cape Town on Tuesday, Kganyago hinted that the SARB would react when the VAT increase leads…

Minister of Tourism, Patricia de Lille, has reassured the local Meetings, Incentives, Conferences and Exhibitions (MICE) industry that the government wanted to position Africa as a global powerhouse in the MICE sector and grow it from more than R120 billion it was worth in 2023. Speaking at the opening of the Meetings Africa 2025 on Tuesday, Tourism Minister Patricia de Lille said the gathering was a powerful platform where ideas meet opportunity, where connections spark innovation, and where Africa stood together to showcase its limitless potential. According to Allied Market Research, the global MICE industry was valued at approximately $523.3bn (R9.6 trillion) in 2023 and the South African MICE industry was valued at $6.6bn in 2023. De Lille said the industry and the government can drive lucrative investments, create jobs,…

There is new momentum around country platforms (CPs) as a change in course in the financial mobilisation for climate and development outcomes. The idea of a "country platform" has been used in international development cooperation to describe country-level coordination that links international goals to domestic priorities, thereby both securing and directing international support, primarily finance. In their simplest definition, these platforms are government-led coordination that establish a hub of gravitas for governments and partners to navigate complex political, social, and economic realities, agree on shared priorities. The Just Energy Transition Partnership in South Africa is an example of an emerging country platform for climate action. Although not relatively new and in trial over the last two decades, these have not been clinically examined, refined, or incorporated into successive development interventions.…

Redefine Properties, the South African and Eastern European commercial property REIT listed on the JSE, said its earnings outlook has stabilised even though the cycle of global interest rate cuts may be shallower than it had previously expected. This was according to Redefine CEO Andrew König, who said in a pre-close update for the six months to February 28 their South African portfolio had a net operating profit margin of 77.8%, while EPP, the Polish retail property platform, improved its margin to 71.7% from 66.4%. This group net operating profit margin was 75.9%. “To sustain growth in valuations, we cannot rely solely on interest rate movements. Our strategic focus remains on organic income growth, as this will drive value creation in the current market,” König said. He said the…

The convener of the reconfigured ANC provincial executive committee in KwaZulu-Natal, Jeff Radebe, has vowed to return the party to its former glory. The previous committee had been disbanded following the party’s poor performance at the May 2024 general polls, where it managed to get 17% of the votes. Radebe and his team of 67 expanded provincial executive committee (PEC) members were formally introduced by the party’s Secretary-General, Fikile Mbalula yesterday afternoon. Radebe was unveiled to the public together with five other officials who will make up the top six structure. His deputy is former Social Development MEC Weziwe Thusi whose role is the first deputy convener while Siboniso Duma, the former provincial chairperson, will take up the second deputy convener's position. Mike Mabuyakhulu made a strong political comeback, taking…

The Passenger Rail Agency of SA will have to pay up for a damages claim in which a woman suffered serious injuries after jumping from a moving train in an alleged desperate move to evade knife-wielding thugs. The 27-year-old woman was a passenger on a train in February 2020 travelling between Cape Town and Elsies Rivier and, according to court records, sustained a skull fracture, cerebral contusion and blunt trauma to her right shoulder, back, and neck when she jumped off the train between the Vasco and Goodwood train stations. The woman submitted that her injuries were caused by the negligence of Prasa. According to the woman, who boarded the train at 7.50pm with a companion, she jumped through the open doors of the carriage after three assailants stabbed the…

Mohamed Salah's statistics this season are off the charts but his hopes of winning the next Ballon d'Or could hinge on how much silverware Liverpool scoop up this season, manager Arne Slot said on Tuesday. The 32-year-old Egyptian is enjoying arguably the best season of his careerwith 25 Premier league goals already as Liverpool close in on the title. Liverpool are also in the League Cup final and are amongst the favourites to win the Uefa Champions League having finished top of the expanded group phase. No African player has won the Ballon d'Or since George Weah in 1995 and no Liverpool player has won soccer's top individual award since Michael Owen in 2001, since when only twice has it gone to a player from an English club. Salah's incredible…

It was a real eyesore watching Mamelodi Sundowns face Orlando Pirates a few weeks ago at Loftus Versfeld. No, I’m not a Pirates supporter, so it’s not because of the 4-1 victory to Sundowns. although Buccaneers coach Jose Riveiro mentioned the state of the surface afterwards. It was rather due to the poor state of the pitch at the home of Blue Bulls rugby, who often rent out their stadium to the Brazilians – no doubt also influenced by the fact that Sundowns owner Patrice Motsepe is also one of the Bulls owners. But Loftus still resembles a cabbage patch at the moment due to the heavy rains that have lashed Gauteng in recent weeks, and it was again in a bad state for the last two Bulls matches held…

AS MAMELODI SUNDOWNS look to stretch their lead atop the Betway Premiership table even further — so much so that chasing teams like Orlando Pirates lose hope of catching up — the team standing in their way tonight has motivation beyond just bagging three points. Sekhukhune United are having a strong season, with Ba Bina Noko positioned high in third place on the league table, albeit a massive 17 points behind the defending champions, with both having played 18 matches. Victory at the Old Peter Mokaba Stadium tonight will allow Lehlohonolo Seema’s team to reduce that gap slightly and, more importantly, hang on to the CAF Confederation Cup spot. As if that wasn’t motivation enough, there’s also the small matter of the fact that the other two Limpopo teams have…