Cape Times 2025-06-19

Consumer prices in South Africa are expected to tick upwards on the back of global pressures and rising oil prices in the wake of escalating war in the Middle East. This is despite the consumer price inflation (CPI) remaining unchanged at 2.8%, matching April’s five-year low. Statistics South Africa (Stats SA) said on Wednesday that inflation was mainly driven by faster price increases for food and non-alcoholic beverages, housing and utilities, and clothing and footwear. However, Patrick Kelly, chief director for price statistics at Stats SA, said these increases were offset by slower inflation in alcoholic beverages and tobacco, restaurants and accommodation services, and personal care and miscellaneous services while transport prices declined sharply. “Food & non-alcoholic beverages is the only category that contributed to the monthly increase in the…

“So we have a leadership of the Reserve Bank who are capable of being ordered around by Maria Ramos,” asks Pityana Former Absa board member Sipho Pityana has raised serious concerns regarding the independence of the South African Reserve Bank (Sarb), urging for a formal investigation into what he describes as "cosy relationships" between key figures in the banking sector. Pityana's remarks come on the heels of a Pretoria High Court ruling that has cast doubt on the conduct of Sarb’s Prudential Authority (PA) during his controversial nomination process as chair of Absa Bank in 2021. The court found that the PA acted unlawfully by adopting an informal process to review Pityana’s nomination, as prescribed by the regulations in place under the Banks Act. This ruling not only vindicated…

E-commerce retailer Takealot has filed "a notice of intention to amend the notice of motion" in the marathon legal battle by the Independent Communications Authority of South Africa (Icasa) and SA Post Office (Sapo) to maintain a monopoly for Sapo in the delivery of sub-1 kilogram parcels. This comes as the pleading stage in the matter continues until mid-August, according to confirmation by the Acting Sapo CEO Fathima Gany and the Business Rescue Practitioners after an update to Parliament's Portfolio Committee on Communications and Digital Technologies. The monopoly, as outlined in the Postal Services Act, has been challenged and was extended to April 1, 2025. This comes as the private sector capitalises on Sapo's inability to enforce the monopoly due to its ongoing financial difficulties. Gany told Parliament that…

South Africa’s construction sector, long mired in stagnation and underperformance, is beginning to show green shoots of recovery off a low base, according to Craig Lemboe, the deputy director at the Bureau for economic Research (BER) speaking at Construction Industry Business Breakfast held on Wednesday. While the industry remains well below pre-pandemic output levels and continues to suffer from weak capital investment and low business confidence, recent survey data suggests that “green shoots” may be taking root. Lemboe said for most of last year, saw the non residential sector was starting to show a little bit more growth and more potential than the residential sector. However, this was from a more eroded base as it’s 50% smaller than what than what it was 10 years ago. “We also see…

A new report from the World Economic Forum (WEF) has revealed encouraging advancements in the global energy landscape, marking significant strides towards secure, equitable, and sustainable energy sources. However, the momentum continues to be threatened by rising geopolitical tensions, investment shortfalls, and significant disparities in clean energy innovation and deployment, particularly in regions that need it most. Titled the Fostering Effective Energy Transition 2025 report, this comprehensive study was conducted in collaboration with Accenture and examines the energy systems of 118 countries across a range of factors: security, sustainability, and equity. Key insights indicate that 65% of these countries have improved their Energy Transition Index (ETI) scores, with 28% progressing uniformly across all three core dimensions. “Energy systems are evolving at varying speeds,” said Roberto Bocca, head of the Centre…

South Africa’s Agricultural Business Confidence Index (ACI) edged down by five points to 65 in the second quarter, reflecting a slight dip in sentiment across the agribusiness sector, the Agricultural Business Chamber (Agbiz) said on Wednesday. The chamber noted that concerns over global trade uncertainty, persistent geopolitical tensions, and ongoing domestic animal disease outbreaks were among the main factors weighing on industry confidence. "Despite the slight decline, the current level of the ACI, implies that South African agribusinesses remain optimistic about business conditions in the country," said Wandile Sihlobo, the chief economist at Agbiz. “The better summer rains and improvements at the ports which have enabled exports with minimal interruptions, are some of the positives. This survey was conducted in the second week of June, covering various agribusinesses operating in…