Table of contents for 2025-01-21 in Cape Times

Donald Trump’s newly created cryptocurrency soared on Monday to nearly $11 billion in market value, drawing in billions in trading volume, while bitcoin hit a record high just hours ahead of the US President-elect’s return to the White House. Launched on Friday, Trump's meme coin, also known as $TRUMP, stood at $52.71 by 1230 GMT on Monday, giving it a market capitalisaton of about $10.7 billion, according to CoinMarketCap, which ranked it as the 18th biggest cryptocurrency. The coin rose to as much as $74.59 on Sunday, having risen from less than $10 early on Saturday morning, while 24-hour trading volume reached $52.5 billion. Trump had on Friday launched the digital token with branding including an image from his attempted assassination in July, expanding his cryptocurrency interests that already include…

By Dr Lindikaya W Myeki If one begins to count from 1967, the fresh produce market system in South Africa has been in existence for more than 50 years. But the first serious market investigation began in 1995 by the Auditor General (AG), focusing on the Joburg market in response to complaints from farmers and the National Fresh Produce Forum. This was succeeded by an additional report in 1996 from the investigation conducted by the Office for Serious Economic Offences (OSEO). Both reports from the two investigations made recommendations, but lacked information that could substantiate legal action. As a result, three more market investigations into the affairs of fresh produce market system at national level followed, conducted by the National Agricultural Marketing Council (NAMC) in 1998, 2000 and 2006.…

In 2024 breakthroughs in technology like AI, redefined industries and how we work, according to Huawei, a leading global provider of information and communications technology (ICT). As these technologies advanced sustainability also became a core focus as the need to develop greener, more efficient solutions became clearer. These advancements laid the groundwork for a new era and 2025 promises to build on this momentum, ushering in trends that will further revolutionise industries, enhance personalisation, and simplify complexity across the board. In the new year, the technology landscape will likely be defined by a blend of regulation, innovation, resilience, and a drive for inclusivity and sustainability, addressing both the opportunities and challenges of the rapidly evolving tech ecosystem. The omnipresence of AI Artificial Intelligence (AI) was at the forefront of emerging…

Murray & Roberts (M&R), the South Africa-based international specialised engineering and construction group, has secured R250 million in post-commencement finance for its South Africa operations in business rescue, while its mining businesses retain good prospects into the future, directors said Monday. On November 22, the group shocked its shareholders when it said that its South African subsidiary Murray & Roberts Limited, and its trading division OptiPower, had gone into business rescue, and that the group’s shares were being suspended on the JSE. The shares were suspended at a price of R1.10 each. The group, in an update to shareholders, said Monday that after the appointment of the business rescue practitioners and in anticipation of the Business Rescue Plan, capital markets had expressed strong support for the group and a R130m…

Impala Platinum (Implats) expects the outlook for platinum group metals (PGMs) to remain challenging in the short term, especially as lower prices persist, forcing South Africa miners of the precious metal to cut costs, close non-profitable shafts and limit fresh investment. According to the World Platinum Investment Council, South African (PGM) producers will influence global refined supply which is expected to firm up by 1% next year. This comes at a time Implats and Northam Platinum among others are holding excess inventory. This year, world platinum supply will grow to 7.3 million ounces, with refined mine supply likely “depend heavily on the volume of semi-finished inventory that South African producers” are able to release. However, such measures have not translated to a marked improvement in platinum prices and Implats believes…

The date for the renowned Cape Town International Jazz Festival (CTIJF)was announced today and it will take place on April 25 and 26 at the Cape Town International Convention Centre, leaving South Africans abuzz with excitement. The annual gathering, which is dubbed “Africa’s Grandest Gathering”, promises to be a memorable occasion as it will feature over 30 local and international artists. If you’re not yet a jazz aficionado but you want to immerse yourself in the energy and magic of this globally renowned festival, we’ve got you covered. Here are seven steps to dive into the world of jazz: 1. Start with the classics Familiarise yourself with legendary albums that have shaped the genre. Essential listens include: l Kind of Blue by Miles Davis. l A Love Supreme by John…

“I FEEL numb, I don’t know what is happening to me because he died in front of me.” These were the words of patroller Boniswa Stoto who lost her partner and fellow patroller Monwabisi Mkhutshulwa who was shot at about 10pm on Friday night while on patrol in Khayelitsha. The killing has raised the alarm about the safety of crime fighters, especially the Makhaza Community Police Forum, the organisation Mkhutshulwa served. He was with nine other members when three unknown suspects opened fire at him. Stoto said: “We left our home and joined other members, we saw a guy walking on the road, he was drunk, so we told him to go home And we saw him again and told him the same thing. And the third time we…

No South African team will contest the Champions Cup play-offs in May and while this is not a good reflection on the country’s participation in Europe, it illustrates that our locally based players are over-extended. Since South Africa joined the European competitions – while keeping one foot in the southern hemisphere for the Springboks – it has meant that the top players from our major franchises play from January to December. Much talk has been about the travel factor, but that is nonsense because the overseas teams tour South Africa. The simple reason that our teams are failing in the Champions Cup is that the opposition participates at their optimum. At the same time, the SA coaches juggle stressed resources across the United Rugby Championship, the Champions and Challenge Cups,…

Liverpool extended their lead at the top of the Premier League in dramatic fashion as two late Darwin Nunez goals beat Brentford before Arsenal stumbled at home to Aston Villa. At the other end of the table, Manchester United and Tottenham are looking over their shoulders at the relegation zone after dismal defeats on Sunday. Bournemouth brought Newcastle's winning streak to a stunning halt to further their case for a first ever European campaign next season. Here, we look at three talking points from the weekend's action. Seismic Saturday in the title race After the 90 minutes had come and gone at the Gtech Community Stadium, it looked like Arsenal could close to within two points of Liverpool with victory over Villa. By the end of the day, the Reds…

Yet, as Wapenaar said: “Trump would not be Trump if we didn’t get something controversial.” The rand strengthened by 0.9% to R18.59 against the US dollar ahead of US President Donald Trump’s inauguration as the 47th President of the United States on Monday while Bitcoin surged to unprecedented levels despite the jitters in markets with volatility expected. The local currency was at R18.53/$1 (6pm) after reaching R19.23/$1 last week, but the US dollar softened as the markets were focusing on Trump’s plans to raise tariffs, tighten immigration, lower taxes, and ramp up deregulation, which are expected to have inflationary effects. Investec chief economist, Annabel Bishop, noted that the rand had been highly volatile ahead of Trump’s inauguration but added that it had gained as the US was seen to be…

One of the key takeaways from the recent Massachusetts Institute of Technology (MIT)’s Initiative on the Digital Economy Annual Conference (2024) is that “human favouritism leads people to prefer content created by humans to that created by artificial intelligence (AI).” But it’s getting harder and harder to discern AI from the human touch. And when it comes to the scientific development of technology tools ostensibly to grow access to financial services across Africa, the bots cannot be trusted to singularly churn out viable and truly transformative tools for Africa’s banks. The opportunity to transform Africa’s developing economies by providing greater financial inclusion to underserved populations is an obvious one. Over 60% of Africa’s population is under the age of 25, and this young, tech-savvy demographic is increasingly digital-first, ready to…

The TikTok ban and shutdown marked a historical event on the internet, comparable to the Wikileaks ban. The popular social media platform was banned due to unverified claims that it was collecting US citizens' data for the Chinese government. Although the platform is now back, the ban demonstrates the fragility of building digital platforms as commercial entities. The platform was no small player in the digital ecosystem. At the time of the ban, it boasted 170 million users in the US and billions worldwide, yet on January 19, it disappeared without a trace (in the US). It was an economic enabler for content creators. Young people relied on the platform to access information. The value of this platform is not debatable. So, how was it possible for it to be…

Production costs for aluminium produced by South32 in South Africa and Mozambique spiked during the quarter to December as a result of a stronger rand currency although it expects prices for the manganese ore it produces to be stronger by about 5% for the same period. Although the rand opened this year on a backfoot, it rallied during the quarter to December on the back of a bullish outlook to South Africa’s policy framework and expected improvements in the operating framework. The stronger rand for the quarter to December had a double edged sword impact on South32. “The cost profile of our South African aluminium smelters is heavily influenced by the South African rand, and the price of raw materials and energy,” the company said. “First half operating unit costs…

As the festive season of Chinese New Year approaches, the flavours of traditional cuisine beckon a harmonious blend with the right alcoholic beverages. Celebrated on January 29 this year, the spotlight naturally falls on the sumptuous food and convivial drinks that characterise this festive occasion. With family and friends gathering to honour traditions and share culinary delights, the right beverage pairing can take your meal from delicious to unforgettable. To help you navigate this culinary journey, Daniel Ufland, founder of The Whisky Masters, lends his expertise to how to harmonise traditional Chinese dishes with the finest alcoholic beverages. “The art of pairing drinks with any type of cuisine is about finding a balance. Chinese cuisine plays with a symphony of flavours, from sweet and tangy to spicy and salty and…

The ANC has announced plans to reconfigure its leadership structures in Gauteng and KwaZulu-Natal (KZN), but vowed that the changes will not affect the government leadership in the two provinces. This means that Gauteng Premier and provincial chairperson Panyaza Lesufi will retain his position. ANC Secretary-General Fikile Mbalula made the announcement yesterday at a press briefing, following a meeting of the party's National Executive Committee (NEC) in Birchwood in Boksburg over the weekend. Mbalula explained that the reconfiguration is aimed at strengthening the party's leadership in the two provinces, which have been under performing. “The state of the organisation in all provinces requires urgent action," Mbalula said. "We had to take a deep dive to say, 'how do we arrest the possibility of a total demise?' In KZN, you can…

Brave Mfuleni firefighters assisted an expectant mother who arrived at the Mfuleni Fire Station at about 1.35pm on Friday. The mother, who was in labour, gave birth to her baby 20 minutes later with the assistance of the on-duty firefighters. Mayoral committee member for safety and security, Alderman JP Smith said the mother and baby were transported to Khayelitsha Day Hospital via an ambulance. “Mfuleni Fire Station is a go-to for many residents in distress, and so it is wonderful to see how staff excel time and again to save lives but also help bring new life into the world. I would like to congratulate the firefighters for their swift response. “It is a moment to be proud of and to cherish – our best wishes to the mother and…

It might sound like RS Berkane delivered an emphatic statement of intent in their final CAF Confederation Cup Group match by crushing South Africa's Stellenbosch 5-0 in Eastern Morocco on Sunday. The truth is that Stellenbosch could hardly be ready to play a match after two solid days of travelling on Thursday morning from Cape Town to Morocco on three flights and a 10-hour bus drive from Casablanca to Berkane. The team arrived in Berkane in the wee hours of Saturday morning ahead of Sunday's match. The outcome did not have a bearing on the Confederation Cup fortunes of the two teams because they had already qualified for the quarter-finals. Consequently, Stellenbosch fielded a weakened team because they have a Premiership match against ever-improving AmaZulu in Durban on Thursday. Travelling…

Novak Djokovic was at the centre of another Australian Open row yesterday while Jannik Sinner needed medical attention in fierce heat to battle into the quarter-finals and Iga Swiatek won easily. But American teenage qualifier Learner Tien's fairytale run is over after he suffered a thigh problem in a four-set defeat to Italy's Lorenzo Sonego in Melbourne. Five-time major champion Swiatek torpedoed another feel-good story as she thrashed "lucky loser" Eva Lys 6-0, 6-1 to set up a meeting with eighth seed Emma Navarro. Poland's Swiatek, who accepted a one-month doping ban late last year, then learnt that the World Anti-Doping Agency (WADA) will not appeal in the case. She called it "closure". The 23-year-old has denied knowingly doping, saying non-prescription medication was contaminated. With temperatures rising above 30°C for…

TeamSA is hopeful that it will manage to attract foreign direct investment at the 2025 World Economic Forum (WEF) in Davos, Switzerland, on the back of stabilising the energy supply and structural reforms. The Minister of Electricity and Energy, Kgosientsho Ramokgopa, joined President Cyril Ramaphosa who is leading the South African delegation at the 55th WEF today to share significant strides South Africa has achieved in energy stability, regulatory reforms and future energy plans that will enable inclusive economic growth. Key among the highlights that South Africa is showcasing are energy reforms and market transformation, elevating private sector participation, advancing renewable energy investments, and global leadership in energy transition. Unlike in previous WEF meetings where South Africa would discuss the energy crisis at length, the country has successfully eliminated load…

Not to oversimplify it, but there are largely two choices for countries and their policy-makers: find ways to achieve global cooperation or risk the damaging effects of fragmentation. The stakes are high, and the path forward is clear. Collaboration at both regional and global levels is not just desirable – it is essential. It is in the self-interest of nations to ensure that all countries grow and prosper, benefiting their people equitably. Poverty, desperation and inequality do not respect borders. We see this most acutely in low-income countries where systemic challenges often drive people to take great personal risks – crossing treacherous borders and dangerous seas – in search of a better life for their families or, at times, mere survival. As these individuals leave their home countries, those nations…

There's a particular type of cognitive dissonance familiar to privileged Africans living solidly middle-class lives by global standards. We navigate international business circles confidently proclaiming a deep understanding of 'African markets', while simultaneously requiring constant reminders that Africa isn't a country. This paradox hit home recently as I revisited my 2018 podcast conversation with Feyi Olubodun about his book 'The Villager: How Africans Consume Brands'. As the current CEO and managing partner of Open Squares Africa, and former Nigerian CEO of Publicis Groupe (the world's second-largest communications group), Olubodun has guided multinational brands to achieve up to 210% year-on-year growth even during economic downturns. His framework for understanding African consumer behaviour is hitting differently now that I split my time between living in Europe and Africa, forcing me to grapple…

Trustco Group, which aims to be the first Namibian company to be listed on the Nasdaq stock market, said on Monday that its board is considering options to delist the company from the JSE, Namibia Stock Exchange, and the OTCQX Market in the US. A fairness opinion from an independent expert, as prescribed under the JSE listings requirements, is being engaged on the proposed delisting. The company submitted an application for a Nasdaq listing on 11 November 2024. It’s management also intends to engage the JSE regarding the formal delisting proposal and request the suspension of shares trading on the JSE. Three formal audit processes are currently underway at the financial services, real estate, media, and mining company: the South African, Namibian, and PCAOB (Public Company Accounting Oversight Board)…

THE Judge's clerk who claimed that Eastern Cape High Court Judge President Selby Mbenenge had sexually harassed her, broke down in tears as she testified how Judge Mbenenge called her to his chambers and allegedly “fiddled” with the zip of his pants while displaying a "bulge" in his pants. Andiswa Mengo was yesterday on the witness stand for the sixth day before the Judicial Conduct Tribunal that is investigating the complaints laid by her. She became emotional while she testified about pornographic pictures she claimed Judge Mbenenge had sent her. She broke into tears when she testified about the day at work when he called her to his chambers. She said she was walking past his chambers when he, in a soft voice, called her. He was standing at…

The iconic Cape Town International Jazz Festival (CTIJF) is set to make an unforgettable return to the Cape Town International Convention Centre (CTICC) on April 25 and 26. Widely celebrated as Africa’s Grandest Gathering, this year’s festival promises a bigger and more exhilarating experience, featuring over 30 world-class artists and an exclusive world-first musical collaboration that will captivate music lovers across the globe. The festival coincides with Freedom Day on April 27, making it a fitting celebration of the nation’s hard-fought freedom, which has opened South African music to the international stage and allowed the country to showcase its finest talent. Festival organisers, espAfrika, promised to deliver another unforgettable festival experience with a carefully curated line-up reflecting the diversity of the audience, ensuring something for everyone to enjoy. Since its…

THE Mfuleni-stationed police officer charged with the rape of a remandee may face more charges when the matter reumes during the next court appearance. The officer made his first appearance in the Blue Downs Magistrate's Court yesterday. Constable Naveron Jacobs, 35, was formally charged on Friday, two days after the 41-year-old woman reported the incident to Pollsmoor correctional officers. The State said it was a Schedule 5 offence. Jacobs stood emotionless in the dock with his hands behind his back and did not turn to look at the public gallery. Before the court proceedings, the court addressed the media application to take pictures and videos of the accused. Jacobs’ lawyer argued that the officer's face could not be shown in newspapers and on television. The Magistrate ruled that pictures…

MI Cape Town are back on the road tonight following their emphatic victory at home in Newlands this past weekend. They take on Durban's Super Giants at Kingsmead, one of the two grounds in the tournament – alongside Boland Park – that have seen spin bowlers have a considerable upper hand. Having lost at Boland Park last week, coach Robin Peterson's side will most certainly look deep into that loss in an attempt to rectify their mistakes tonight. If anything, their loss in Paarl came down to team selection and execution. Coach Peterson selected only two spinners for that game, while the Royals played three with Joe Root as the fourth spin option. Moreover, while George Linde and Rashid Khan bowled relatively well in those conditions, eight overs of spin…