Cape Times 2025-07-31

Minister for Electricity and Energy, Kgosientso Ramokgopa, has emphasised the urgent need for a fundamental reconfiguration of the global energy finance architecture. Speaking at the third Energy Transitions Working Group meeting under South Africa’s G20 Presidency, he called for a transition from pledges to tangible execution, particularly in light of recent commitments exceeding R1 billion towards the implementation of JET programmes. Ramokgopa asserted that the credibility of the global transition hinges on the timely and effective mobilization of financial resources to where they are most needed. "Finance must become a tool of inclusion, not a barrier to participation. Scaling up climate and energy finance is not only urgent, but also central to closing the infrastructure gap, addressing energy poverty, and driving structural transformation and industrialisation," Ramokgopa said. "We must shift…

Trump administration refuses to give feedback on the Framework proposed by South Africa The Business 20 (B20) South Africa has expressed confidence in negotiations between South Africa’s government and the United States amidst freezing diplomatic and trade relations ahead of the G20 Summit to be held in Johannesburg later in the year. This comes as US President Donald Trump said on Tuesday he might skip the upcoming Group of 20 (G20) leaders' summit in South Africa in November and send someone else to represent the United States, citing his disapproval of South African policies. B20 Sherpa, Cas Coovadia, said on Wednesday they were ramping up efforts to foster collaboration among nations, with the US taking a central role. Coovadia said recent discussions led by B20 representatives have underscored the undeniable…

The African Continental Free Trade Area (AfCFTA) secretariat has this far done its work in developing updated cutting edge policies, including those of digital trade and digital identity for people and goods, throwing the gauntlet to governments to commit finance and practical trade across the continent, AfCFTA Director for Coordination and Programmes Tsotetsi Makong said on Wednesday. Speaking at the 2025 TIPS Forum, which seeks to deepen understanding of the implications of the AfCFTA and regional integration on industrial development in Southern Africa, Makong said the continent continued to lose capital as traders preferred to travel to China, Turkeye, Dubai and other destinations to buy goods resold in the African market. He said the continent still faced challenges on the digital divide with an assessment that it needs about 700…

The July 2025 Household Affordability Index unveiled a complex landscape for South African consumers as the average cost of a staple food basket slightly decreased to R5,442.72, a modest dip of R0.41 from June 2025. Despite this month-on-month improvement, a stark year-on-year increase of R190.57 (3.6%) painted a troubling picture for households relying on basic foodstuffs. Compiled from 44 basic food items across 47 supermarkets and 32 butcheries in regions including Johannesburg, Durban, and Cape Town, the report reflects a nuanced reality. It showed that of the tracked foods, 17 saw price increases while 26 experienced reductions. Only one food item remained unchanged, presenting a slightly positive note for consumers grappling with financial pressures. Price variability: the details behind the numbers Individual price movements revealed significant fluctuations within the basket.…

South Africa’s sugarcane growers are expecting a significantly improved harvest this season, following a rebound in rainfall after last year’s drier-than-normal conditions. The current estimate for the 2025 season stands at 17.7 million tons of sugarcane, up from 16.47 million tons in the previous year – which was the lowest crop in eight seasons. While this recovery in yield is welcome news, the industry’s economic outlook remains under serious threat due to delays in adjusting South Africa’s import tariff, the flood of cheap imports into the country and the looming 30% tariff from the United States on South African sugar exports. The delay in adjusting our own sugar import tariff to reflect current global realities is undermining the competitiveness of local producers. At the same time, the US tariff threatens…

African blockchain ventures outperformed the broader African venture capital (VC) landscape, according to the 2024 African Blockchain Report, published in association with Absa, released on Wednesday. Despite capital headwinds, blockchain maintained or gained share in Africa’s venture market. Year on year, blockchain-focused VC funding and deal volume in Africa outpaced all-sector venture capital on the continent, while higher median deal sizes underscored concentrated investor confidence in well-positioned early-stage blockchain ventures. African blockchain ventures outperformed the broader African VC landscape. The sector captured 7.4% of VC capital and 12.7% of deals, up from 7.0% and 7.3%, respectively, in 2023. However, while global VC funding rebounded modestly, Africa’s share continued to contract. Global annual venture funding totaled $378.8 billion (R6.7 trillion) across 23 538 deals in 2024. This reflected a 7% funding…