Inhoudsopgave van 2025-04-09 - Cape Times

South Africa’s big banks adopted rigorous measures to contain costs last year after net interest margins (NIM) narrowed, in spite of improving business and consumer confidence, according to a report released by professional services firm BDO South Africa on Tuesday. All economic and bank indicators showed the environment was improving, but the big banks did not necessarily benefit. While the traditional bank metrics such as headline earning growth and credit loss ratio were all positive, if one digs deeper, the positive growth was not of the scale that was experienced in 2022 and 2023, Kevin Hoff, Partner & Head of BDO Financial Services South Africa, said in an online presentation. The average NIM declined by 6.25 basis points in 2024, in stark contrast to the 28 basis point increase the…

President Donald Trump has heightened the stakes in the trade dispute between the two giants Brent crude oil price plummeted below $64 (R1 250) a barrel on Tuesday, marking their lowest point since April 2021, spurred by escalating tensions between the United States and China, raising concerns about future demand for oil as China is one of the world's largest oil consumers. The larger OPEC+ output hike planned for May and Saudi Arabia’s plans to cut official selling prices for next month also added to the Brent crude oil price pressure, it trading at its lowest level in nearly four years and shaving 4.5% off Sasol's share price just on Tuesday. US President Donald Trump has heightened the stakes in the ongoing trade dispute between the two economic giants, threatening…

South African citrus producers and other participants in the citrus export value chain may need to absorb a portion of the 30% reciprocal tariffs imposed by President Donald Trump if American consumers cannot stomach hefty price increases in the coming months, Absa said in its report on Tuesday. South Africa is a counter seasonal citrus supplier to the US – the primary exporting months to the US run from July to October, with oranges and mandarins being the main citrus products destined for export. “With other notable Southern Hemisphere exporters like Chile already sending the bulk of their orange exports (75% or more) to the US during this period, there is limited capacity from other Southern Hemisphere producers to substitute South African volumes, which become uncompetitive based on the imposed…

Renewable power generation provided a record 32% of global electricity last year, a report by energy think tank Ember said on Tuesday, as overall electricity demand grew 4% driven by heatwaves and data centres. Energy security fears, exacerbated by a trade war prompted by US President Donald Trump's sweeping tariffs, could further boost demand for renewable power this year, said Ember electricity and data analyst Euan Graham. The tariffs have sent markets from energy and equities plummeting and stoked concerns about a global recession. Graham said though it was too early to tell whether the tariff fallout would impact electricity demand this year, renewable power could benefit. "Countries are thinking about their security and energy security more than ever before and I think that means homegrown renewable power like wind…

Cashbuild has confirmed its intent to acquire a 60% controlling interest in Allbuildco Holdings for R93 million in a bid to solidify its position within the hardware and building materials market. This significant acquisition, executed through its subsidiary Cashbuild Management Services, was formalised with a subscription agreement on Monday. The transaction is poised to enhance Cashbuild's reach, targeting a previously underserved customer base across all LSM bands in South Africa. Allbuildco, through its wholly-owned subsidiary, will manage the operations and assets of three hardware and building material stores under the Amper Alles brand, located in Silverlakes and Rayton in Pretoria, as well as in Groblersdal, Limpopo. Presently, these stores are owned by Amper Alles Hardware City Silverlakes, Amper Alles Hardware City Rayton, and Amper Alles Hardware City Groblersdal (sellers). The…

Qualifying South African-born spaza shop owners have been urged to stop leasing out their properties to undocumented immigrants who run spaza shops in their communities. This comes as scores of eager spaza shop owners, hawkers, and ordinary Soweto residents came out in large numbers to hear the Minister of Trade, Industry and Competition Parks Tau, and Small Business and Development Stella Ndabeni-Abrahams unveil their joint R500 million Spaza Shop Support Fund during an event held at the Eyethu Shopping Centre in Soweto. However, due to the size of the venue, scores of other Soweto residents were turned away with a promise that the two ministers would return to the township on another date. The fund, aimed at empowering and skilling South African-born spaza shop owners and other food handling businesses…

For many years traditional healers have operated in an effective legal grey, with one area of contention being the legitimacy of medical leave certificates provided by traditional healers, and whether these should be accepted by employers. But legislation earlier published for comment - the Traditional Health Professional Regulations, 2024 - marked a significant step forward in terms of formalising the practice of traditional healing in South Africa. Employment law experts at commercial law firm Cliffe Dekker Hofmeyr explained that the regulations aim to formalise and professionalise traditional healthcare practices in South Africa. The regulations are set to be implemented under the Traditional Health Practitioners Act 22 of 2007 (THPA) to ensure that traditional health practices are standardised and practised safely across the country. “Once registered with the Interim Traditional Health…

THE TotalSport Two Oceans weekend was its usual spectacle, with the Mother City’s ultra-marathon — renowned as ‘the world’s most beautiful marathon’ — and its half-marathon producing some intriguing runs. For once, Gerda Steyn did not run a record time, but that should not detract from her fantastic race. Matshelane Mamabolo was in Cape Town to cover the 56km race — and even ran the half-marathon himself. Here are his five standout memories from the weekend. Gerda the Queen of the oceans The Smiling Assassin smiled her way to a record-extending sixth successive victory in the ultra, with a win so consummately easy it could well have been a training run. Steyn changed her usual strategy of starting cautiously and building momentum by going hard from the outset, saying she…

It’s the ‘favourite week’ of the year for professional golfers as the Masters tournament takes centre stage from Thursday at Augusta National in Georgia. South African and former Masters champion Charl Schwartzel is one of the international golfers, alongside US star Bryson DeChambeau, who describes the week at Augusta as the one they look forward to the most on the golfing calendar. As the excitement builds for the first major golf tournament of the year, the 40-year-old Schwartzel alongside fellow South Africans Christiaan Bezuidenhout and Thriston Lawrence will fly the Mzansi flag at Augusta National, looking to bag another Green Jacket for the country. Schwartzel comes fresh off a brilliant round at the LIV Miami tournament where he claimed second place and a cool just over R43 000 000 (…

Transnet on Tuesday announced that it handled more than 200 000 twenty-foot equivalent units (TEU) in a single financial year at the Durban Multipurpose Terminal (MPT) for 2024/2025. This record target, which exceeded the target of 131 106 TEUs for the financial year, underscored the organisation’s commitment to enhancing trade capacity and efficiency, driven by a combination of increased trade volumes, improved operational capabilities, and strategic resource allocation. The previous volume record at the terminal was in the 2020/2021 financial year, with 182 198 TEUs. Jabu Mdaki, managing executive of Transnet Port Terminals, said that this is a momentous milestone for Transnet given the challenges experienced in 2023. “We had a crisis in Durban, and we faced challenges of vessel backlog and truck congestion. We would also like to thank…

The sudden hike of import tariffs by US President Donald Trump and his administration to countries across the world is set to reduce the volume of goods traded and affect citizen welfare across the globe. The Trump administration implemented a global 10% import tariff and a varying targeted reciprocal tariff to a host of countries, including South Africa. The reciprocal import tariff to be levied on South African export goods to the US is set at 30%. Historical data show that yearly trade between SA and US amounts to $23 billion (R449bn) and the US is SA’s second biggest trading partner after China. The high tariff will reduce the competitiveness of South African export goods to American markets, leading to reduced demand of SA exports in US markets, low income…

Municipalities are uniquely poised at the forefront of the South Africa’s Just Transition, given their constitutional mandate to provide basic services, encourage social and economic development, and to promote inclusive governance. Local governments also play a crucial role in climate action, developing and implementing plans to mitigate and adapt to climate change at the local level, often through initiatives like green infrastructure, emissions reduction, enabling economic development, and community resilience programmes. Yet, their actions are strongly determined by the national fiscal, regulatory and policy contexts in which they are embedded in, but it is at the municipal level where the real test of the just transition will play out. Despite these responsibilities, municipalities must navigate difficult socioeconomic environments that are marked by a lack of funding characterised by financial constraints,…

Africa’s energy demands are surging, driven by rapid population growth and industrial expansion. Industries are now frantically seeking reliable and affordable power alternatives to run their operations but the current reliance on imported solar technology, from panels, to inverters and batteries, leaves the continent vulnerable. Repairs are delayed, components become scarce, and the whole system falters when global supply chains hit a snag. It's a fragile setup, plain and simple, and one that Africa can't afford to rely on. Which is why the prospect of building inverters and lithium batteries locally, designed for South Africa’s specific needs, is so incredibly promising. In stimulating domestic production, industries can tackle the twin challenges of increasingly erratic grid access and spiralling energy costs. This is, however, no longer just a golden opportunity, but…

Over the past year, Sasol’s share price has been on a troubling downward trajectory, reflecting a series of operational and financial hurdles that have beleaguered the integrated fuel-from-coal and chemicals giant. On Tuesday, Sasol’s shares fell by 2.54%, to R59.45 in the afternoon, a stark contrast to the price of R170.96 just one year ago. This decline mirrors a more substantial drop over three years, from R367.72, effectively halving the share value. Industry analysts attribute this distressing trend to a cocktail of operational challenges plaguing the company. Problems such as the extraction of low-quality coal from Sasol’s mines, diminished natural gas volumes transported from Mozambique, and inadequate feedstock supply have severely hampered production. Rising unit costs at the Secunda facility have compounded these challenges, according to Robbie Proctor, an analyst…

SEVERAL political parties that contested last week’s by-elections in Ward 82 in the City of Johannesburg have called for improved systems from the Electoral Commission of SA (IEC) ahead of the 2026 local government polls. The Patriotic Alliance (PA) won the hotly-contested ward, which includes areas such as Claremont, Bosmont, Newlands, Westbury, and Newclare, after it became vacant following the death of a DA councillor in January. PA candidate Beverley Smouse won by 41.71% while the African Christian Democratic Party managed just below 21%, the DA obtained 12.76% and the ANC 12.6%. Several political parties including Al Jama-ah, Amalgamated Rainbow Movement, DA, EFF, National Coloured Congress, Indigenous Democratic Revolution, and the ANC initially raised objections to the IEC’s alleged conduct. Among their complaints is that there were voters who allegedly…

THE much anticipated investigation report and findings by the National Home Builders Regulatory Council’s (NHBRC) on the George building collapse that claimed 34 lives is expected to be released by Human Settlements minister Thembi Simelane today. Simelane last week told the portfolio committee that the NHBRC had failed to follow its internal processes during the registration phase of the ill-fated project, leading to catastrophic consequences. According to the minister, the building was listed on paper as a single storey while it was a multi-storey complex. Simelane said the investigation found nothing wrong with the quality of the material used in the construction work, however the “processes, systems, and structural designs are what would have led to the collapse of the building.” She said names of officials and the contractor, Liatel,…

A defence lawyer in the Joshlin Smith case has accused police of feeding a false confession to one of the accused, telling him to implicate others in an alleged child trafficking scheme. Six-year-old Joshlin went missing on February 19, 2024 from her home in Middelpos, Saldanha Bay. The child's mother Racquel ‘Kelly’ Smith, her boyfriend Jacquen ‘Boeta’ Appollis and friends Steveno ‘Steffie’ van Rhyn and former accused Lourentia ‘Renz’ Lombaard were arrested and charged with kidnapping and human trafficking. During cross-examination in the Western Cape High Court yesterday, Advocate Nobahle Mkabayi told the court that her client, Van Rhyn, was told by police to say that 'Kelly told Boeta to take Joshlin to Maka Lima'. She argued the confession was “prescribed” by officers. Testifying in response, Detective Dawid Johannes Fortuin…

With Southampton becoming the first team in history to be relegated from the English Premier League with seven matches to go, the spotlight has shifted to promoted teams’ struggle to survive in the elite league. Fellow promoted sides Leicester and Ipswich look set to follow suit, with a quick return to the Championship. Leicester’s Foxes set an unwanted record of their own with Monday night’s loss to Newcastle. They have gone eight home league games in a row without scoring a goal. Ipswich are closest to survival of the bottom three, but are a whopping 12 points adrift of Wolves with seven games to go in the season. The promoted trio’s relegation struggles are a worrying repeat of last season, when Luton Town, Burnley, and Sheffield United also lasted just…

You may have expected a Springbok ‘changing of the guard’ at the end of 2025, but it could happen before that. Through form, injury and other circumstances, the team Rassie Erasmus selects for the first massive Test of the year against the Wallabies at Ellis Park on August 16 – the Rugby Championship opener – could look very different from the first-choice group of the last two years. With all due respect to Italy and Georgia, it would make little sense for the strongest possible Bok side to run out on July 5, 12 and 19 in Pretoria, Gqeberha and Mbombela respectively. The main goals for 2025 should be winning the two Tests against the All Blacks in New Zealand on September 6 and 13 in Auckland and Wellington, as…

The 2025 Telkom Netball League (TNL) was launched to much fanfare in Sandton, Johannesburg, on Tuesday, with the exciting addition of the Proteas Under-21 team promising to spice up the competition. The Free State Crinums are the defending champions after seeing off the Gauteng Jaguars in last season’s decider. They will be joined by the U21s and Zimbabwe when the tournament tips off later this month in an 18-team spectacle. Netball South Africa (NSA) president Cecilia Molokwane was particularly excited about the presence of the Baby Proteas in the top division of this year’s edition. Molokwane explained TNL 2025’s biggest role will be in preparing coach Precious Mthembu’s junior national team for the Netball World Youth Cup in Gibraltar later this year. “To me, the more court time, the more…

The Association of Communications & Technology (ACT) - representing leading network operators including MTN, Vodacom, Telkom, and Rain - has publicly expressed its deep concerns regarding the Independent Communications Authority of South Africa’s (Icasa) recently proposed satellite services licensing framework. After three days of hearings, Icasa aims to establish what it describes as an “informed and inclusive approach to the framework for satellite service for satellite services in South Africa”. However, ACT CEO Nomvuyiso Batyi on Tuesday said all licensees in the sector, not just new satellite entrants, deserved a more considered regime. “It also believes that any attempt by Icasa to develop a satellite licensing framework with the hope of achieving universal broadband connectivity will be doomed to failure unless it first repairs the broken framework for universal…

The Citrus Growers’ Association of Southern Africa (CGA) has made a fervent plea to the South African government, urging it to engage in immediate negotiations with the United States regarding potential tariff reductions or exemptions on citrus exports. This call to action comes as South African citrus producers brace for the implementation of a hefty additional 31% tariff on their exports to the US, coinciding with the arrival of early-season citrus intended for the American market. About 35 000 jobs are connected to SA-US citrus exports in one way or another. CEO of the CGA, Boitshoko Ntshabele, on Tueaday said increases in exports to the US was one of the cornerstones of the CGA’s target to create 100 000 additional jobs by 2032. “We are now looking at a potential…

South Africa has commissioned its first self-built Main Transmission Substation (MTS) by an Independent Power Producer (IPP), a milestone in the country’s renewable energy expansion, EDF Renewables announced this week. The Koruson 400/132 kV MTS, located near Noupoort in the Northern Cape, was energised this week and is designed to connect 1.5 gigawatts (GW) of renewable energy to the national grid. Developed by a consortium led by EDF Renewables alongside H1 Holdings, Gibb-Crede, and a local community trust, the greenfield substation is the first of its kind in over seven years to join the grid. EDF Renewables said in a statement that it marks a shift from traditional grid operator-led projects, with the National Transmission Company of South Africa (NTCSA) approving the IPP’s full scope of development, financing, and construction.…

Rangel Logistics Solutions on Tuesday announced an additional investment of €6 million (R125.6 million) in a warehouse located near OR Tambo International Airport in Kempton Park. The Portugal-headquartered family-owned international logistics company that entered the South African market in 2020 said this investment reaffirmed its commitment to helping Africa realise the potential of the African Continental Free Trade Area (AfCFTA) agreement. Covering an area of 10 000 m², the new warehouse will serve as a central hub for Rangel's expanding Contract Logistics offering, as announced at the opening ceremony. This facility also provides bonded storage, divided into an OS Bond Store (Operating Store) for goods storage up to 24 months and an SOS Bond Store (Special Operating Store) for storage up to six months, as well as cross-docking services. During…

Tanzanian company Pula Group has approached the High Court in that country for a ruling to speed up its $195 million (R3.78 billion) damages legal suit against Patrice Motsepe-owned African Rainbow Capital Investments (ARC). Pula Group chairman Charles Stith and Pula President Dr. Mary Stith said in a statement Tuesday that following ARC’s announcement to delist on March 18, they had advised their attorneys to file a Certificate of Urgency in the High Court to move the mention of its suit against ARC forward into April; it was originally scheduled for May. Stith said of the plan to delist: “This move clearly changes the status quo relative to our suit against ARC. I find it a profoundly interesting coincidence that this announcement was made within days of the announcement of…

Build One South Africa (BOSA) leader Mmusi Maimane has reiterated his party’s commitment to collaborating with other political organisations to amend the fiscal framework and eliminate the VAT increase in the 2025/26 Budget.Addressing the media in Parliament, Maimane said a solution must be found by the parties working on adjusting the Budget. “We stand ready to work with all parties that are committed to a credible, inclusive, and growth-oriented Budget. There is no time for political theatrics, no time for us to play games and say one said this and this one goes to court,” Maimane said. He made the statement hours before his party was to attend a meeting with the ANC and other Government of National Unity (GNU) parties that voted in support of the fiscal framework last…

ANC President Cyril Ramaphosa and his deputy Paul Mashatile were apparently divided on whether or not to keep the current Government of National Unity (GNU) which consists of the DA and the Freedom Front Plus. An ANC member who also attended the party’s National Working Committee (NWC) meeting on Monday said the tensions within the organisation reached a boiling point when Ramaphosa and Mashatile apparently “clashed” over the party's stance on the DA in the GNU. “Mashatile wants the ANC to move on and form a coalition with other parties that could form another GNU. This would mean a cabinet reshuffle which would have to be implemented by Ramaphosa who is against it,” the source said. Mashatile has been vocal about his disapproval of the DA's actions, stating that their…

Champions League fever hits full throttle this week as Europe’s elite prepare for quarter-final first legs – and there’s no shortage of drama, ambition or respect among the final eight. Barcelona remain unbeaten in 2025, but manager Hansi Flick is determined to keep his players grounded ahead of Wednesday night’s heavyweight clash against Borussia Dortmund. Barça currently sit top of the LaLiga standings ahead of Real Madrid, with eight matches to play, and are set to face their fierce rivals in the Copa del Rey final later this month. But Flick is clear: nothing is won yet. "We can dream, but players and coaches must keep our feet on the ground," he said during Tuesday’s press conference. "We have to reflect on what we’ve achieved through hard work – and…

The Bulls were far from home and dry early in the second half against Bayonne in last weekend’s Challenge Cup playoff. Jake White’s team needed to get a score after halftime to take the game away from their French hosts, and Jan-Hendrik Wessels decided to do something about that. Channelling his inner Warrick Gelant, the 23-year-old Bulls front-rower raced up to pick up a grubber from Bayonne just before his own 10-metre line – and then beautiful chaos ensued. Wessels first threw a dummy pass to flyhalf Keagan Johannes while facing his own tryline. Then he proceeded to do his own version of a three-point turn, in really impressive fashion for the 1.90m, 120kg human wrecking ball. But instead of charging straight into the nearest Bayonne defender – like any…