Cape Times 2025-06-05

Despite issues faced in Africa, there is potential to attract investment from all regions, says Le Pallec S&P Global Ratings has said that the outlook for the country remains positive, during its South Africa Capital Markets Conference in Johannesburg on Wednesday. S&P global experts and industry leaders, engaged in dynamic panel discussions during the conference. Yann Le Pallec, President of S&P Global Ratings, highlighted Africa's potential for growth, particularly in sub-Saharan regions. He projected that the region's real GDP is expected to increase by 4% over the next two years, outperforming advanced economies that are anticipated to grow by a mere 1.5%. "Despite issues faced in African economies, there is potential to attract investment from all regions,” Le Pallec said, emphasising the continent's pivotal role in the global energy transition.…

McDonald’s South Africa has announced the appointment of Max Oliva as its new CEO, effective July 1, 2025. The news comes three months after Greg Solomon, has mutually parted ways with the fast food giant after 15 years at the helm and McDonald’s South Africa at the time said it was looking for a new CEO. McDonald’s South Africa said in a statement on Wednesday, "Oliva brings more than three decades of executive experience in retail and supply chain management, with a strong track record of delivering operational excellence, building high-performing teams, and driving sustainable growth. “He was selected following a rigorous executive search process aimed at identifying a leader with the vision, discipline, and commercial acumen to guide the business into its next phase of transformation." It said…

Critically needed economic growth in Africa is being held back by high borrowing costs imposed by international lenders, with unpredictable US policy changes adding to the strain, the head of the G20 panel on the continent said. Seasoned politician and anti-apartheid activist Trevor Manuel chairs the panel of experts working on proposals to address issues affecting Africa, including high debt, to be presented at a summit of the Group of 20 leading economies in November. African nations are not necessarily more indebted than major economies but they face higher debt servicing costs, Manuel told AFP in an interview. The "unbelievably expensive and prohibitive" cost of capital for African nations has hobbled their development, said Manuel, who served as finance minister in post-apartheid South Africa for more than a decade. "We…

Amazon South Africa on Wednesday unveiled a major expansion of its product offerings, introducing three new Everyday Essentials categories: Groceries, Pet Food, and Vitamins and Supplements. The move brings thousands of non-perishable food items, pet products, and health supplements to its customers nationwide, with free delivery on Amazon-shipped products. It said the launch addresses high-demand categories since Amazon's entry into South Africa, featuring international brands like Nestlé, Red Bull, and Starbucks alongside local favourites such as Beacon, Simba, and Koo. “We’re thrilled to bring these extensive new categories to our South African customers,” said Robert Koen, Amazon’s managing director for Sub-Saharan Africa. “Groceries, pet supplies, and health supplements have been top customer requests. This expansion underscores our commitment to becoming a one-stop shopping destination with convenience, competitive pricing, and reliable…

The Association of Meat Importers and Exporters (AMIE) has urged the Department of Agriculture, Land Reform and Rural Development to immediately resume poultry imports from countries that have declared themselves free of Avian Influenza, in line with World Organisation for Animal Health guidelines. These countries include France (February 4, 2025), Sweden (March 31, 2025), and both Denmark and Belgium (May 23, 2025). The last recorded imports from Denmark were in 2020, when South Africa imported an average of 1 384 metric tons of poultry products per month, including both poultry cuts and mechanically deboned meat (MDM). AMIE on Wednesday also welcomed the Department of Agriculture’s commitment to make a determination on a partial lifting of the Brazilian import suspension by the end of this week. This would be based…

Experts say that a slight decrease in petrol price will create some breathing room for consumers. This follows the Minister of Mineral and Petroleum Resources Gwede Mantashe announcing on Wednesday a 5 cents per litre decrease on both grades of petrol and 36.90 cents per litre decrease on both grades of diesel. Waldo Krugell, an economics professor at the North-West University (NWU), said that consumers are lucky that the slightly stronger rand–dollar exchange rate and stable crude oil price have absorbed the impact of the increase in the fuel levy that came into effect today. “It is not quite relief, but the fact that the price is not going up adds to the little bit of breathing room in household budgets. Last week's repo rate cut will also help.…