Cape Times 2022-07-27

SOUTH Africa’s leading food retailers have so far managed to keep their average price increases well below the rising inflation rate, good news for consumers battling with rising costs and interest rates. The Shoprite Group, South Africa’s biggest retailer, said yesterday its price movements had averaged 3.5 percent for the 52 weeks to July 3, with underlying product inflation contained to 3.9 percent, as a result of continued price investment. Pick n Pay said its South African internal selling price inflation for the period was restricted to 5 percent, below 7.1 percent Consumer Price Index (CPI) Food for the 18-week period to July 3. Meanwhile, Woolworths Food said yesterday its price inflation averaged 3.5 percent for the 52 weeks to June 26, with…

SUSTAINABLE black empowerment at the banks will continue to be hampered until the local economy recovers from the years of State capture, maladministration, political uncertainty and a lack of urgent economic reforms, the Banking Association of South Africa (Basa) said yesterday, It said the findings of its latest Transformation in Banking Report, compiled by Intellidex, which researched empowerment at the banks between 2017-2020, showed that in hard numbers, the narrative that banks “are falling far short of their Financial Sector Code (FSC) targets is based on an incorrect interpretation of the numbers, as guided by the FSC”. “This can distort facts and discredit the contribution of banks to the transformation of the financial services sector and economic empowerment in South Africa,” Basa said in a statement yesterday. It said banks…

A GROUP of women-led companies yesterday called for innovative financing within a variety of South African development finance institutions (DFIs) in a bid to support women in leadership, management, ownership and entrepreneurship. Women-owned businesses in South Africa are still in the minority in spite of statistics showing that they present a lower risk for business financiers. Jessica Espinoza, the chief executive of 2X Collaborative, called for gender lens investing to be a stand-alone focus in companies and not only an aspect of environmental, social, and corporate governance (ESG), to maximise its advancement. Espinoza said it had been proven that investors make superior returns when they invest in women-owned and led businesses. “We would like to reach a state where gender lens investing has a similar status to ESG considerations due…

Measure will have impact on taxis, trucks and buses’ costs across country The RUBBER is on the tarmac as companies importing tyres into South Africa yesterday were up in arms against an application by the SA Tyre Manufacturers Conference (SATMC) to tax authorities to impose an anti-dumping duty on Chinese imports. The implication of the tariff hike would have a material impact on the vast network of taxis, trucks and buses’ input costs across the country. The SATMC, which includes the brands of Continental, Bridgestone, Goodyear and Sumitomo (the makers of Dunlop tyres), recently applied to the International Trade Administration Commission to impose additional duties of between 8 and 69 percent on the rubber rims of passenger, taxi, bus and truck vehicles that are produced in China. However,…

Arielle Carey has a 7-year-old neutered male American pitbull terrier named Odin who is sweet as pie at home in Atlanta – that is … until Odin gets freaked out by people and dogs he does not know. When Carey’s former community in South Carolina did not allow privacy fencing, she moved back to Georgia. It was not a cheap journey: the move plus additional training totalled thousands of dollars. The effort was worth it, though. “He’s so much calmer and more relaxed now,” Carey says. Odin is not the exception – he is the norm. In fact, 57% of dog owners report that their furry family members are anxious, a new Dog Anxiety Awareness Survey by research firm Kantar Group on behalf of CEVA Animal Health showed. And that…

THE City says it will be conducting an assessment of the noise emanating from the Kingdom Hall of Jehovah’s Witnesses church in Observatory, following complaints from residents. Residents had written to the City about the church in Eden Road, saying the issue arose in February and had escalated, and church leaders seemed to ignore their complaints about the noise levels. Observatory resident Ashlene van Reenen said they have had little joy when speaking to church members about the issue. “My sister works shifts and her room faces the church, even with her windows closed she can hear them talking loudly and last week and Sunday, a lady was banging loudly at the church gate because it was locked. “Our neighbour right next to the church spoke with them regarding the…