Star 2026-04-24

The Constitutional Court (ConCourt) has delivered a significant judgment clarifying how far tax authorities can go in tackling complex financial arrangements designed to reduce tax liability. In a ruling that could reshape corporate tax planning, the highest court in the land dismissed an appeal by Absa Bank and its subsidiary, United Towers, confirming the South African Revenue Service’s (Sars) power to challenge sophisticated avoidance schemes even where taxpayers claim limited knowledge of how those schemes operate. At the heart of the dispute was a series of transactions entered into between 2011 and 2015. Absa invested nearly R1.9 billion in preference shares through a structure introduced by the global financial group Macquarie. These investments generated dividends that Absa treated as tax-exempt. However, Sars argued that the broader arrangement was engineered to…

South Africa is heading into a period of renewed inflationary pressure that is likely to trigger tighter monetary policy, with Bank of America (BofA) warning that rising prices and elevated interest rates will define the economic landscape through 2026. In its latest “South Africa Watch” report yesterday, BofA outlines a deteriorating consumer price inflation (CPI) outlook driven largely by surging oil prices and broader geopolitical tensions. After a period of relative stability earlier in the year, consumer inflation is now expected to accelerate sharply, breaching the central bank’s preferred range and remaining elevated well into 2027. Last month, the South African Reserve Bank (Sarb) opted for caution, keeping interest rates unchanged at 6.75% per annum as escalating tensions in the Middle East inject fresh uncertainty into the inflation and growth…

Group reports strong business performance, driven by tighter global oil supplies Investors have sent Sasol's share price soaring since the start of the Middle East crisis, as the fuels-and-chemicals-from-coal and oil refiner typically benefits strongly from tighter global oil supply and higher oil prices. The group yesterday confirmed that its oil refinery product sales are seeing strong demand linked to energy security concerns, while it has focused on maintaining uninterrupted production of its energy and chemical products through the Middle East conflict. Sasol’s share price was 0,13% higher at R217.60 following a business performance update for the 9 months to February 28, but the price is 73.4% higher than it was on February 26, a day or so before the Middle East crisis started, and the price is a staggering…

The escalating conflict in the Strait of Hormuz has reignited tensions in global oil markets, pushing prices back above the $100-mark per barrel yesterday. As investors navigated the shifting landscape, stock markets felt the weight of these developments, with the FTSE 100 showing a decline of approximately 0.5% in early trading. The catalyst for this shift appears to be Iran’s recent military manoeuvres in the Strait of Hormuz, where the nation seized two commercial vessels. Bianca Botes, managing director at Citadel Global said this act has raised alarms about the potential for escalated conflict in a region that is pivotal to global oil supply. "As a result, oil prices surged back above the crucial $100-per-barrel threshold, now settling at $103," she said. "This surge underscores the market's anxiety regarding stability…

More than 3.4 million young South Africans are not in employment, education or training. It is a sobering number — but it does not have to define us. In fact, it may be the clearest signal yet that South Africa stands at a moment of redesign. At a recent National Education Summit, Higher Education Minister Buti Manamela offered a powerful reframing: “The crisis is not necessarily only unemployment. It is a crisis of pathways.” That insight shifts the national conversation. Because if the challenge is pathways, then the opportunity is design. South Africa does not start from zero. It has institutions, programmes, talent and ambition. What it needs now is alignment — and a renewed focus on building visible, scalable pathways that connect learning to earning, and potential to participation.…

South Africa’s coffee market is undergoing its most significant transformation in decades. What was once a category defined by necessity and routine is now being reshaped by premiumisation, personalisation and purpose. Locally, the coffee market is projected to exceed $500 billion by 2030, driven largely by younger consumers seeking experience, authenticity and value beyond caffeine alone. Locally, industry data shows that specialty and premium coffee segments in South Africa are growing at more than double the rate of traditional instant coffee, while sugar usage in hot beverages continues to decline year-on-year. In South Africa, the expansion of independent roasteries and specialty cafés across major metros such as Johannesburg, Cape Town and Durban reflects a structural shift in demand, one that is influencing retail strategy, pricing models and shelf allocation across…