Table of contents for 2025-04-14 in Cape Times

Vukile Property Fund’s Spanish subsidiary Castellana Properties, through its 70%-owned subsidiary Caminho Propício has reached an agreement with DWS Grundbesitz, a German company, to acquire for €63.32 million (R1.36 billion) the shopping centre known as Forum Madeira, located in Funchal, Madeira, Portugal. The acquisition is Vukile's fifth retail asset in Portugal since it entered the country last year, following seven years of growing its Spanish retail portfolio from its South African base. Caminho will purchase all the shares of the property-owning company and the company housing the operations – namely, DB Real Estate Investment Madeira – Sociedade Imobiliaria, and DB Real Estate Investment Madeira – Sociedade Imobiliaria, Unipessoal Lda. Forum Madeira is a shopping centre on the island of Madeira, Portugal, comprising a lettable area of 21 472 square metres.…

Uncertainty isn’t a distant storm - it’s a Category 5 hurricane battering our doorstep. Global markets tremble, geopolitical tensions boil, and in South Africa, a stalled VAT hike signals deeper economic fragility. After years of steering risk governance and strategy, one truth stands firm: the future belongs not to those who shrink from chaos but to leaders who master it. Strategic risk management has evolved from a back-office function into the frontline of survival - a lifeline for organisations on the brink. The evidence is undeniable. PwC’s 2024 Pulse Survey reveals that companies embracing advanced risk strategies have cut the financial impact of disruptions by 20% - translating to millions in saved revenue for large enterprises - while boosting operational efficiency by 15%. Deloitte’s 2024 Global Risk Management Survey adds…

Volatility in share, bond, and exchange rate markets is set to prevail for a long time. The sudden back-paddle of President Donald Trump's tariff calls, by decreasing tariffs to most countries back to only 10% (except for China), was, as expected, a sign that he called the bluff of all the countries over the past few weeks. Analysts also feel that his administration may not have expected the backlash from US citizens as a gloomy high inflation rate, a potential US recession, and increasing unemployment surfaced. The theoretical principles that higher tariffs will always lead to welfare losses for consumers has surfaced strongly. JPMorgan Chase CEO Jamie Dimon said the US economy faces "considerable turbulence" against the escalating US-China tit-for-tat tariff announcements, which creates fear amongst consumers, investors, and businesses.…

Gemfields Group’s share price plunged 22% on Friday after it announced a $30 million (R577.8m) rights offer due to funding constraints caused by unrest in Mozambique. The share, which is also listed on the London AIM market, was trading at R1.16 on the JSE on Friday afternoon, and the day’s decline meant it has fallen 58.2% over a year. Shareholders usually do not like rights issues, as it dilutes their interests and indicates that the company requires additional funding. London-based Gemfields is seeking shareholder approval to issue 556,203,396 new shares to raise about $30m in a fully underwritten rights issue. “While our planning of Gemfields' growth program did not envisage the requirement of additional funds from shareholders, the scope and scale of the difficulties we have encountered have unfortunately necessitated…

The Department of Justice and Constitutional Development is forging ahead with its planned move to crack down on those who fail to pay child maintenance by listing them with credit bureaus. The initiative, which is in line with the requirements of the Maintenance Amendment Act, will enable court officials to forward details of maintenance defaulters to credit bureaus to use against their credit rating. The Act makes a provision for the forwarding of personal details of the maintenance defaulters who fail to pay child maintenance and have enforcement order judgments against them to the credit bureaus and credit providers. In November 2024, the department entered into a Memorandum of Understanding (MoU) with the Social Justice Foundation and Consumer Profile Bureau. Responding to parliamentary questions, Justice and Constitutional Development Minister Mmamoloko…

OVER 25 000 parents of current Grade 7 learners in the province have not yet applied for a place in Grade 8 next year. Parents have been reminded to apply for placements in Grade R, 1 or 8 for the 2026 school year before the admission window closes tomorrow. The admissions applications window opened on March 11, 2025, and the Western Cape Education Department (WCED) said that they have already received applications for 132,226 learners in Grade R, 1 or 8 next year. Education MEC David Maynier said: “We remain concerned that over 25,000 parents of current Grade 7 learners have not yet applied for a place in Grade 8 next year. “We appeal to these parents to apply before the on-time admissions window closes on 15 April 2025." “Applying…

Oscar Piastri powered to victory at the Bahrain Grand Prix on Sunday from George Russell's Mercedes with the Australian's McLaren teammate Lando Norris in third. Pole-sitter Piastri kept his calm in an incident-packed race to give McLaren their first ever win in Sakhir at their 21st attempt. Max Verstappen's trying weekend at the desert track ended with the four-time world champion only managing sixth place. Norris leads the drivers' standings on 77 points, with Piastri overtaking Verstappen and into second ahead of next weekend's race in Jeddah. "That should be one hell of a party tonight. Mega weekend everyone. That was pretty damn fun," Piastri said, after marking his 50th start in perfect style. Taking the chequered flag under floodlights on a balmy Sunday evening in the Gulf kingdom was…

After being served a buffet of T20 cricket for the past 12 months, Proteas women’s batter Anneke Bosch is eagerly looking forward to dining on 50-overs in the upcoming ODI Tri-Series in Sri Lanka. The Proteas leave for the idyllic Indian Ocean Island this week to face the hosts Sri Lanka and powerhouse India in a triangular series at the R. Premadasa Stadium in Colombo. It will be the first time the Proteas women’s team will be touring Sri Lanka. “The Tri-Series will be very exciting,” Bosch said. “I haven’t been there before. It will be a cool experience playing in those conditions.” Bosch has played just one solitary ODI - against England in Potchefstroom last December- since last June and is keen to get in some longer format preparation…

US-South Africa tensions escalate The spectre of diplomatic strife between South Africa and the United States looms heavily over the upcoming Presidential G20 Summit to be held in Johannesburg later this year, particularly as the diplomatic tensions between the two countries continue to harden. Over the weekend, US President Donald Trump took to his Truth Social platform to express doubts about the participation of the US delegation in the summit. While he described the G20 meeting as “very important”, Trump coupled this endorsement with unfounded allegations concerning violence against white farmers and land confiscation in South Africa. The G20 membership not only boosts the national prestige of South Africa on the world stage but provides a useful platform for the government to coordinate global policy approaches on a wide range…

Smallholder farmers in rural north KwaZulu-Natal have been given a boost to supply their crops and produce to the broader consumer market witht he help of the government and the private sector. On Friday, the Department of Agriculture launched the Jozini Smallholder Farmer Programme in Jozini in northern KZN focusing on cultivating herbs and spices, leveraging local resources to create a sustainable supply chain. Minister for Agriculture John Steenhuisen said that the agricultural and agro-pressing masterplan has one of its key pillars: how the department can include small scale farmers into the value chain. “This will help grow the agricultural sector and bring in more smallholder farmers into market access. This is crucial as when we do projects we need to ensure that they are sustainable, viable, and profitable. Being…

General George Patton, a World War figure, would say, "knowing what killed the dead can save the living." In 2016, when Dr Maletela Tuoane told me she intended to leave Statistics South Africa (StatsSA) for a job at the World Bank, I asked her to attend a meeting on a Saturday with the aim to persuade her from leaving the mighty organisation. However, ultimately after a day-long deliberation, she still had decided that she had made the right decision. Eleven years later, on 24 March, when I penned, “Mourning Statistics: The consequences of Trump’s policies on global health" in Business Report, it brought to mind the significant contributions she had made to Cause of Death statistics at StatsSA. Little did I know that I had played "The Murder She Wrote."…

Kumba Iron Ore ended its year to December 31 with almost 20% less employees following a significant restructuring of its business and job losses that were forced by the continuing poor logistics performance by Transnet, and low iron ore prices. The mining group’s integrated annual report released Friday said while there had been no forced retrenchments from the restructuring, the group did facilitate the creation of more than 3 000 non-mining jobs across various sectors, including agriculture, hospitality, manufacturing and tourism. The group’s total number of employees by the end of the year stood at 14 766, compared with 18 334 employees at the end of 2023, a difference of 3 568 - the 2023 figure was restated to include non-mining contractors of 3 686 (2023:6 722). There were…

The family of slain anti-apartheid activist and human rights lawyer Mlungisi Griffiths Mxenge has appealed to those who confessed to his murder, to reveal who ordered a hit on him. In 1981, Mxenge was returning home from his legal office in the Durban central business district, when he was kidnapped, brutally murdered and his body was found on a sports field in Umlazi south of Durban. His son Mbasa Mxenge, who was 15 years old at the time of his father’s death, said the family welcomed the reopening of the inquest into his death and appealed to the assassins, who confessed their involvement in the killing to the Truth and Reconciliation Committee (TRC), to reveal who had ordered them to carry out the killing. He said former Vlakplaas operative Dirk…

THE DA will forge ahead with its court action over the passing of the fiscal framework and revenue proposals, despite holding “constructive” discussions with its coalition partner, the ANC at the weekend to iron out their differences which threaten the future of the Government of National (GNU) “We have not decided to drop the court action on the VAT case,” said DA Federal Chairperson Helen Zille. The DA's court action centers around the party's opposition to the 0.5 percentage point VAT hike, which they believe will have a negative impact on the economy. The application before the Western Cape High Court challenges the adoption of the 2025 Fiscal Framework and Revenue Proposals, which include the VAT hike. The party claims that the decisions taken by the National…

As he closes his first 100 days as Rector and Vice-Chancellor at UWC, Professor Robert Balfour’s attention turns to the university’s next big task: shaping UWC’s Institutional Operating Plan (IOP) for 2026–2030. At the heart of this process is a commitment to preserving UWC’s legacy as a university rooted in academic excellence, transformation, critical thought and social justice. Looking back over the past 100 days, Balfour emphasised that vision achieves impact through action. Although officially taking office on January 1, Balfour began immersing himself in campus life months before, walking the grounds, meeting with students and staff, and warmly welcoming guests to UWC, always wearing one of his signature hats. By the time he stepped into the role, he already had a strong sense of the institution and its…

Stellenbosch FC are preparing for a pivotal week, with a significant Tuesday clash that could shape their trajectory in the Betway Premiership, ahead of a continental CAF fixture over the weekend. On Tuesday, Stellenbosch host AmaZulu in a rare appearance at their Danie Craven Stadium. The fixture offers an opportunity to consolidate their position in the Premiership and build valuable momentum. The team has recently lost ground on the table, recording two wins, two draws, and a loss in their last five outings. As a result, Stellenbosch have slipped from third to fifth place on the log, putting their CAF qualification hopes for next season in jeopardy. However, a win would see them leapfrog Sekhukhune United and TS Galaxy, reclaiming third spot. All eyes will be on Stellenbosch to see…

Mamelodi Sundowns(1) 1 Mokoena 45+1 Kaizer Chiefs(0) 2 Duba 57, Du Preez 88 Kaizer Chiefs’ days of returning to championship glory are just one match away, as they reached the Nedbank Cup final after beating Mamelodi Sundowns at Loftus Versfeld on Sunday night. Chiefs have fallen from grace in recent years, enduring a 10-year barren run that made a mockery of their ‘Cup Kings’ tag. The wait, could soon be over, however, should they manage to beat the defending champions and arch-rivals Orlando Pirates in the final. This result means that Chiefs are now one match away from not only winning the trophy, but also qualifying for continental football next season. The result might also offer coach Nasreddine Nabi a lifeline, as he has been under pressure to deliver, with…

The fortunes of aluminium component manufacturers in South Africa's aviation industry hang on a balance from ripple effects of global supply chain disruptions arising from the US import tariffs. The integration of the local industry is sturdy enough to take up opportunities arising from the US' as the industry waits on the wings on the 90 day period for the review. South Africa is a significant contributor to the manufacturing of aircraft with some local companies serving standing orders for manufacturing sections of the Airbus A321 Neo and another exporting popular recreational aircraft. Analysts over the weekend said South Africa could be affected by the tariff confusion risks delaying shipments, even if the industry has not been directly targeted for duties. Local companies that cannot be named because of sensitivity…

"Stablecoins are brilliant, especially in Africa. They solve cross-border payment issues and remittances, which can cost up to 20% in Africa. At a company I'm the Co-Founder of, Xago, we’ve built stablecoins for 6 different currencies (USD, ZAR, Euro, AUD, Pound and NGN), sending transactions in seconds for pennies," said Sonya Kuhnel, the managing director and co-founder of Bitcoin Events, in an interview with Business Report executive editor Philippa Larkin on Friday. The interview was held a week before Bitcoin Events upcoming virtual Strategic Bitcoin Reserve Summit. Bitcoin Events hosts several Web3 events including Africa’s first and largest blockchain conference, the renowned Blockchain Africa Conference. The inaugural event is testing the waters for discussions around Bitcoin as a national asset and is also a sign how far digital currencies…

Vladimir Lenin famously said, “There are decades where nothing happens, and there are weeks where decades happen.” The year 2025 is proving to be such a year, not only for South Africa but for the entire world. Donald Trump’s election as President of the world’s largest economy, the United States, has brought many long-simmering issues for South Africa and its relationship with the US to the forefront, as well as for the US and its relations with the broader global community. If these issues, from geopolitical tensions to trade, are addressed strategically, they can help unlock badly needed economic growth for South Africa and reduce our staggeringly high unemployment and weak economic growth rates of 41.9% and 1%, respectively. If handled recklessly, they can inflict unnecessary pain upon the working…

New bank loans in China rebounded more than expected in March, recovering from a sharp drop the previous month, as policymakers pledge to ramp up stimulus to buttress the world's second-largest economy against an escalating trade war with the US. Chinese banks extended 3.64 trillion yuan (R9.25 trillion.) in new yuan loans in March, according to Reuters calculations based on data released by the People's Bank of China (PBOC) on Sunday. Analysts polled by Reuters had predicted new yuan loans would rise to 3 trillion yuan last month, compared with a lower-than-expected 1.01 trillion yuan in February and 3.09 trillion yuan in the same month last year. For the first quarter, total new loans rose to 9.78 trillion yuan from 9.46 trillion yuan in the same period last year. "The…

The Minister of Environmental Affairs was given 12 months by the Supreme Court of Appeal to prescribe regulations in terms of the Air Quality Act and to implement and enforce the published Highveld Priority Area Air Quality Management Plan. This order followed the “deadly air” legal battle challenging the government’s failure to adequately regulate air pollution in the Highveld Priority Area, where coal-fired power plants are a major source of emissions. The case started in June 2019 at the behest of the Emalahleni-based Vukani Environmental Justice Movement in Action (VEM) and environmental justice group groundWork, represented by the Centre for Environmental Rights (CER), and it sought for the government to deal with air pollution in Mpumalanga. In 2022, the Gauteng High Court, Pretoria, found that the poor air quality in…

WITH the George building collapse bringing the competence in the sector under scrutiny, the Council for the Built Environment (CBE) maintains they will not be deterred in continuing efforts to transform and professionalise the built environment. This follows Human Settlements Minister Thembi Simelane’s media briefing last week, where she announced the findings of the National Housing Building Regulatory Council (NHBRC) report, which saw five officials suspended with the possibility of criminal charges. The investigation into the collapse of the George building, which claimed the lives of 34 people, also uncovered that the company in question inaccurately presented its capabilities during the registration phase and failed to declare its intention to construct a multi-story building. Liatel Developments, under director Theuns Kruger, was the company contracted for the development. “There were gaps…

A ransom demand has been made for US missionary pastor Josh Sullivan, who was kidnapped at gunpoint during a church service in Gqeberha. The Hawks said the victim was taken at gunpoint at around 7pm on Thursday. Eastern Cape Hawks spokesperson Warrant Officer Ndiphiwe Mhlakhuvana said the victim believed to be the pastor at a local church in the Motherwell area in Gqeberha was allegedly confronted by four unknown armed suspects during a church service. "According to the reports, the suspects allegedly forced the victim into his own vehicle and fled the scene with him." The police confirmed that the victim's Toyota Fortuner was later recovered in Motherwell. Two cellphones were also taken during the kidnapping. "In response to the incident, a multidisciplinary task team consisting of various police specialised…

The suicide of a 14-year-old rape victim who simply could no longer tolerate being at length cross-examined by the defence lawyers of her three alleged rapists, ended in a victory for them as they are now walking free due to a technicality in the case. Two of the men had their life imprisonment sentences overturned, while the third, who was a minor at the time, also had his 15-year jail sentence overturned. The Bloemfontein High Court found on appeal that the three are entitled to their freedom as it is their Constitutional right to fully cross-examine their alleged victim. She, however, died before this could be concluded and thus their trial was rendered unfair. The teenage complainant testified during a protracted trial which was endlessly postponed for numerous reasons from…

Liverpool did not make things easy in their 2-1 win over West Ham United but the players showed exceptional mentality to bounce back from a late equaliser to seal the three points, manager Arne Slot said as they inched closer to the title, while Chelsea lost ground on the Uefa Champions League battle. After Luis Diaz had opened the scoring, West Ham grew into the game and grabbed an equaliser in the 86th minute from an Andy Robertson own goal before skipper Virgil van Dijk powered home a header three minutes later. With a 13-point lead over second-placed Arsenal, Liverpool need just two wins from their last six games to win a second Premier League title and a first trophy under Slot having lost the League Cup final last month.…