Inhoudsopgave van 2025-09-26 - Cape Times

South Africans celebrate Heritage Day as a moment of pride in our languages, rituals, music, cuisine, and sacred sites. But there is a tougher economic truth we cannot ignore: our arts, heritage, and creative industries remain underperforming assets. Globally, culture is big business. The creative economy already generates $2.25 trillion (about R38 trillion) annually and accounts for nearly 30 million jobs worldwide, according to Unesco. Yet South Africa’s creative industries contribute just under 3% of GDP – far behind their potential. The question for policymakers, investors, and business leaders this Heritage Day is simple: how do we unlock the value of our cultural wealth and convert it into revenue, jobs, and competitive brand power? Lessons from Global Case Studies n South Korea’s K-wave (Hallyu): In the early 2000s, South Korea…

When Giorgio Armani passed away at the age of 91, the legendary Italian fashion designer and founder of the Armani empire, left behind more than a valuable multinational, he left a carefully scripted succession plan for the luxury-goods business he had built since 1975. In his will, Armani instructed his heirs to sell off stakes in the company gradually. He set specific timelines and even named preferred buyers, such as Louis Vuitton Moët Hennessy (LVMH) and L’Oréal. Since his death, the Armani directives have been making international headlines for the detail they contain and the thought that went into them. Armani’s instructions also offer valuable lessons for South African business owners who want to ensure that their companies – small, medium or large – are preserved and not left in…

Gold is glittering for Zimbabwean crocodile skin supplier, Padenga Holdings, as luxury markets reels from global economic uncertainty and a growing shift to bullion as a store of value. Padenga diversified into gold mining in 2019 through the acquisition of Zimbabwe gold mining operations. Analysts said at the time that the diversification represented an “unusual pairing” but is “value accretive” through enhancement of forex earnings potential. Now, the company is reaping the benefits of that diversification, with gold prices spiking to highest levels. Spot gold prices traded above $3 700 (about R63 900) an ounce in early trade yesterday. For the half year to end June, gold Prices closed $3 264 an ounce for Padenga compared to $2 402 an ounce at the beginning of the year. This represents 36%…

Renewed investor interest in renewable energy, IT, mining, as well as finance, is shoring up South Africa’s robust mergers and acquisitions (M&A) activity amid rising regulatory scrutiny guided by public interest concerns. The country’s advanced financial sector and stability in the regulatory sector is also helping restore some certainty to investors seeking M&A deals in the country, Yashin Kandielall, head of M&A at Standard Chartered South Africa told Business Report in an interview this week. “The country has seen notable activity in financial services, telecommunications, and consumer goods. Recognising regulatory scrutiny, influenced by public interest concerns and B-BBEE compliance, is crucial in South African M&A,” said Kandielall. Over the past few months, M&A activity such as Harith InfraCo’s acquisition of key energy and transport assets including Lanseria Airport and fibre…

Plans to shut down UNAIDS have sparked sharp criticism from South Africa’s Treatment Action Campaign (TAC) and SECTION27, who warn the decision threatens to undo decades of progress in the global HIV/AIDS response. In a joint statement, the organisations described UNAIDS as the only dedicated UN body coordinating the HIV response, cautioning that dismantling it “will have a devastating impact on the lives of millions of people living with and affected by HIV/AIDS.” This comes after media reports regarding the closure. In a statement last week, UNAIDS said there was a transformation plan which includes a 55% reduction in UNAIDS Secretariat staffing and a shift in country presence from 85 to 54 countries, with a lighter footprint in 40 countries. It said this deployment supports countries where 80% of people…

The potential ruling by the Constitutional Court that parts of the Criminal Law (Sexual Offences and Related Matters) Act, 32 of 2007, concerning consent, are unconstitutional could contribute to reducing incidents of rape. This was heard during oral evidence in the Constitutional Court yesterday in which the Embrace Project, a non-profit organisation which aims to combat gender-based violence, and rape survivor Inge Holzträger have filed an application challenging the constitutionality of the Act. The applicants have turned to the court to declare sections of the Act unconstitutional and invalid where the challenge hinges on specifically provisions dealing with sexual offences in which the absence of consent is a constituent element, most notably rape. Holzträger was raped in 2018 by a man she met through an online dating platform. The court…

The Department of Defence is prioritising perimeter fencing projects, legal processes, and strengthening security to address illegal encroachment on its territory. The department has expressed concern about illegal settlements encroaching on military bases. The department has previously warned that encroachment into these settlements poses serious challenges to national security, operational readiness, and the safety of both military personnel and civilians. Recently, Defence Minister Angie Motshekga revealed a series of measures aimed at protecting the security and operational readiness of the South African National Defence Force (SANDF). Reports three months ago highlighted the encroachment of informal settlements on 10 key military bases located in the Western Cape, Northern Cape, and Gauteng. So serious is the matter that military bases experience continuous theft of vehicle parts, electric cables, office equipment, and other…

In many South African communities, a funeral is more than a private family matter. It is a cultural commitment that brings neighbours, relatives, and friends together to honour the life of someone who has passed away, and to give them a dignified send-off. While the rituals carry deep meaning, the financial reality is heavy. With families paying for the casket, burial plot, and headstone, as well as catering for mourners and, in some cases, repatriating the body to the person’s place of birth, South Africa is ranked among the most expensive countries in the world to hold a funeral. From the moment someone becomes late, the family home is filled with visitors. Out of respect, visitors are offered tea or a meal, depending on the time of day. This generosity,…

Barloworld said revenue from its heavy equipment and starch and glucose sales fell by 10% to R33.6 billion in the 11 months to August 31. The group, which is scheduled to delist from the JSE following a takeover by a consortium comprising Saudi Arabia-based Zahid Group, Barloworld CEO Dominic Sewela and staff, said in an operational update yesterday that earnings before interest, tax, depreciation, and amortisation (EBITDA) is expected to decline by 9% to R3.8 billion over the period. The share price increased by 1.7% to R119.51 on the JSE Thursday morning, well up from R85.05 a year before. The takeover offer per share is R120 in cash, with a total value unlock of R123.10 per share when considering a R3.10 declared dividend. The extended takeover long-stop date is December…

Julius Mkhwanazi, the acting chief of the Ekurhuleni Metropolitan Police Department (EMPD), has taken special leave following serious allegations that tie him to a controversial “blue lights” scandal involving businessman Vusimusi “Cat” Matlala. While Mkhwanazi confirmed in an interview with eNCA that he formally applied for a leave of absence, he said he is fully prepared to testify before the Madlanga Commission of Inquiry, asserting his intention to clear his name. “Yes, I am ready to present my case before the commission,” he stated. Allegations arose during the testimony of KZN Police Commissioner Lt-Gen. Nhlanhla Mkhwanazi last week, claiming that Commissioner Mkhwanazi assisted Matlala in illegally registering private vehicles under the municipality and equipping them with blue lights. These lights are typically reserved for emergency and law enforcement vehicles. However,…

Organisers of Saturday’s mass march in support of Palestine, have called on communities, trade unions, student movements, faith groups, and civil society organisations to lend their names and support to what they describe as a historic mobilisation for justice. The demonstration is expected to draw one of the largest crowds ever assembled in South Africa in support of the Palestinian cause. Yesterday, the Muslim Judicial Council (MJC-SA), Al-Quds Foundation South Africa (AQF-SA), the Palestinian Solidarity Campaign (PSC), and other civil society and faith-based organisations held a media briefing to highlight the main issues behind the protest. PSC coordinator Professor Usuf Chikte said the march will push for the domestication of international conventions into South African law so that alleged crimes can be prosecuted locally. “We have signed the Geneva Convention,…

Maritime crime in South Africa, Angola, and Namibia primarily involves illegal, unreported, and unregulated fishing, oil and fuel smuggling, and drug trafficking. South Africa is a significant hub for cocaine transit and faces issues with poaching. Criminal networks leverage these rich maritime resources, with corruption at various levels of government and industry exacerbating these problems. This is according to a new report, Securing Africa’s South Atlantic, compiled by Enact Africa which revealed how maritime crime is perpetrated in some Southern African Development countries, with transnational criminal networks using vessels transporting and sourcing illicit commodities through the South Atlantic Ocean. The report states that most cocaine entering South Africa is transported in containers from Brazil. The report also details how criminal networks take advantage of existing illicit trade and target established…

Town Two residents in Khayelitsha, who were protesting for electricity, brought their frustration to the community clinic as they burned down a room. According to ward councillor Thando Pimpi, shack dwellers had illegally connected electricity from a transformer, which later blew up. “They wanted to go to the clinic where there is another transformer. We managed to speak to them on Wednesday, and we asked them to stop, and we warned them not to seek service delivery in that manner. “We also set up an appointment with the relevant stakeholders to discuss how we can help the community members. I couldn’t sleep on Tuesday night because the people threatened to burn my house down, but they didn’t do anything, and the situation remains tense.” The City’s Health Department said: “Information…

A massive part of the Springboks’ success against the All Blacks in their historic Rugby Championship win in Wellington was their contestable kicks. The New Zealanders were all at sea when scrumhalf Cobus Reinach and flyhalves Sacha Feinberg-Mngomezulu and Manie Libbok peppered their back three with high bombs. The accuracy of those efforts helped the likes of wings Cheslin Kolbe and Ethan Hooker regain possession, from which the Boks launched further attacks. It essentially set the platform for their 43-10 victory, as it gave the Boks the momentum they needed to get their big forwards into the game, which in turn provided the backs with quick ball to punish the All Blacks out wide. Not being able to field contestable kicks is an absolute nightmare for a Test team, because…

South Africa’s annual producer price inflation (PPI) for final manufactured goods quickened to 2.1% in August, up from 1.5% in July, Statistics South Africa (Stats SA) reported yesterday. The PPI rose 0.3% on a monthly basis, marking a period of rising inflationary pressures, particularly driven by key sectors such as food products and beverages. Stats SA said the biggest boost to the headline figure came from food, beverages and tobacco products, which grew 4.3% year-on-year, contributing 1.3 percentage points to overall inflation. Monthly increases were mainly driven by food, beverages and tobacco, coke, petroleum, chemical, rubber and plastics, and metals, machinery and computing equipment. The PPI for intermediate manufactured goods climbed to 6.5% y/y in August from 6.4% in July, with basic and fabricated metals providing the largest push. Month-on-month,…

South African social influencers and gig economy participants are now firmly in Sars’ crosshairs, following the revenue authority’s announcement of a new taxpayer segment aimed at tightening compliance in the digital space. This development signals a clear shift in Sars’ strategy: all income, whether received in cash, products, travel, or other perks, must be declared and taxed. Earlier this month, Sars issued a media release outlining its zero-tolerance stance on undeclared income from influencers and gig workers. The announcement also guided how these earners should meet their tax obligations. As digital marketing and online entrepreneurship continue to evolve, Sars is determined to ensure that these emerging income streams are not excluded from the tax net. According to Jashwin Baijoo, associate director and head of strategic engagement and compliance at Tax…

Absa and Standard Bank are among 12 African banks with outstanding Eurobonds that Moody’s says will likely be refinanced through a combination of capital markets sources, including newer long-term Euro and dollar-denominated bonds, lending market instruments the finance institutions’ own foreign currency liquidity. Standard Bank issued $200 million (about R3.4 billion) worth of Eurobonds in March 2020 at a 2.875% coupon rate. The bonds mature in 2020 and are listed by Moody’s as outstanding. Absa Group on the other hand issued $500m junior notes in May 2021 that have an unspecified maturity date and a call date of May 2026. The bank’s notes have a 6.375% coupon rate. Other banks with upcoming Eurobond maturities include Ecobank, the Mauritius Commercial Bank, and about eight Nigerian banks – among them Access Bank,…

SAPS expert, Maj-Gen. Patronella Van Rooyen, said Parliament failed in its constitutional oversight role by ignoring allegations of political interference by KZN Police Commissioner, Lt-Gen. Nhlanhla Mkhwanazi, months before his explosive media briefing in July. “The fact that the Portfolio Committee didn't act on that is, in my mind, a failure of their mandate,” she told the Madlanga Commission. “Even if they initiated an investigation, called the management of the police to come and explain, that would already have been an exercise of oversight on their part to ensure that the matter received attention.” Mkhwanazi made headlines on July 6, when - flanked by heavily armed tactical officers and wearing a Special Task Force uniform - he publicly accused Police Minister Senzo Mchunu of interfering in high-level investigations. He said…

IN recent years, BookTok, the literary corner of TikTok, has grown into a global phenomenon, changing the way readers discover and engage with books. Often associated with challenges and viral videos, the platform has quietly become a hub for South African readers and writers. With the #BookTok hashtag generating over 64.4 million videos globally, authors and enthusiasts are using short videos to champion local literature and interactively explore heritage. Entrepreneur and author Sylvester Chauke is one of the most prominent voices in this space. His videos cover mindset, creativity, perspective and ambition. Books have always been my portal to new worlds,” he said. “Stories should never live quietly on shelves. They should spark conversations and connect people across borders.” This month, Chauke recommended Zukiswa Wanner’s “Love, Marry, Kill”, Kopano Matlwa’s…

The Dream Wedding Renita D’Silva Narrated by Natalie Dew and Jess Nesling Audible Studios RELEASED just this week, Renita D’Silva’s latest audiobook, The Dream Wedding, draws listeners into a world where love and glamour mask the shadows of the past. Narrated by the enchanting voices of Natalie Dew and Jess Nesling, this nearly eight-hour journey flirts with the eerie, masterfully weaving romance with suspense that lingers ominously in the air. From the very outset, we are introduced to an extravagant nuptial affair, a celebration that glimmers with riches and promise. The protagonist, swept off her feet by billionaire Suraj Sharma, enters this lavish world hoping for a rebirth of sorts, a chance to leave her troubled past behind as she prepares to say “I do.” Yet, like a haunting echo…

Stellenbosch FC have earned a reputation as a refreshing presence in South African football, but this season the ruthless side of the game has set in, forcing the Cape Winelands outfit to confront one of their sternest battles yet. Winless in their last five outings, Stellies find themselves in an unfamiliar 14th place on the league table, with just five points from eight matches. Their most recent 0-0 stalemate against Durban City may have provided coach Steve Barker with a point to cling to, but it did little to ease their struggles in the standings. For Barker, though, the result represents a potential turning point and something to build on in the weeks ahead. It has been a difficult start to the campaign for the Lesotho-born coach, who has long…