Índice para 2025-01-23 em Cape Times

Stats SA says inflation for 2024 overall was substantially lower year-on-year at 4.4% As inflation continues to grow at a manageable rate, at the bottom end of the South African Reserve Bank’s (SARB’s) target range, economists expect a 0.25 percentage point cut in the interest rate next week, which would take the prime lending rate down to 11%. Statistics South Africa reported on Wednesday that inflation for 2024 overall came in substantially lower year-on-year at 4.4% compared with the comparative print of 6% in 2023. While December’s figure was marginally higher than that of November, the 3% recorded was substantially lower than the 5.1% number recorded in the last month of 2023. Investec chief economist, Annabel Bishop, said the SARB’s Monetary Policy Committee was expected to trim interest rates next…

FlySafair has reaffirmed being steadfast in maintaining its efficiency as it confirmed making final representations to the International Air Services Licensing Council (IASLC) earlier this week. This comes as both Domestic and International Air Services Licensing Councils are currently deliberating on possible sanctions on the airline for breaching the foreign ownership threshold in both its operational divisions. The appearance this week, scheduled from a court ruling last year, was for the airline to make further submissions as the councils draw close to the matter, which may shift the South African landscape due to the airline’s dominant position. “FlySafair remains steadfast in its commitment to delivering uninterrupted service throughout this process. Our flights continue to operate as scheduled and are receiving strong customer support,” said Kirby Gordon, FlySafair chief marketing officer.…

Retail activity in South Africa is expected to continue surging as consumers get more disposable income from the interest rates reprieve offered by the SA Reserve Bank (SARB) and Data from Statistics South Africa (Stats SA) on Wednesday showed that retail sales advanced by 7.7% over a year in November 2024, following a downwardly revised 6.2% rise in October. This marked the ninth consecutive month of growth in retail activity and the strongest since July 2022, surpassing market forecasts of a 5.5% increase. Excluding the disruptions caused by Covid-19 and the July 2021 riots to the data, this marks the strongest print in approximately 14 years (since June 2010). Stats SA said the uptick in shopping activity was broad-based across most retailers as six of the seven categories included in…

As we shake off the Christmas hangover, complete with the lingering crumbs of Choice Assorted Biscuits, and settle into 2025, we are called to embrace fresh opportunities with purpose and resolve. South Africa’s historic assumption of the G20 presidency offers just such an opportunity: a platform to rewrite economic narratives and shine a long-overdue spotlight on the unsung champions of economic growth: Small, Medium, and Micro Enterprises. As Donald Trump assumes the presidency this week, the geopolitical landscape is undergoing significant shifts, bringing economic priorities into sharp focus. South Africa stands poised to amplify Africa’s voice and ambitions on the global stage. For the first time, Africa has a chance to shape the G20 agenda from a uniquely African perspective, making this presidency a milestone of immense responsibility. SMMEs, the…

Mr Price Group’s share price fell up to two percent yesterday after it said sales reached double-digit growth in the 13 weeks to December 31 and that it has gained market share for six consecutive months, with stronger sales in December. In December, traditionally the strongest month for retailers due to the festive season and holidays, group retail sales increased 12.8%. Mr Price Apparel and all acquired businesses saw double-digit growth in the month, and 70 basis points of market share were gained, the group directors said in a trading statement yesterday. “The 2025 economic growth outlook for South Africa is anticipated to improve. A steadily improving consumer environment, aided by decreasing inflation and lower interest rates, continues to build a solid platform for growth in comparison to recent years,”…

Consumers in South Africa can expect to continue paying higher prices for groceries as food inflation ticks up. Data from Statistics South Africa (Stats SA) yesterday showed that inflation for food and non-alcoholic beverages (NAB) rose slightly by 0.2% to 2.5% in December, up from 2.3% in November, driven by meat and fruit. On an annual basis, food and non-alcoholic beverages inflation edged up to 1.7% from 1.6% in December 2024 compared to December 2023, with processed food prices unchanged at 3.2% and those of unprocessed food rising. This comes as the overall annual consumer price index (CPI) increased for a second consecutive month, rising from 2.9% in November to 3.0% in December. Hannah de Nobrega, economist and quantitative analyst at Prescient Investment Management, said this uptick in the CPI…

A new nature reserve has been declared in the Soutpansberg Mountains, covering 14 properties and spanning over 11 607 hectares of critical biodiversity. The Western Soutpansberg Nature Reserve (WSNR) was officially declared on January 17. The Endangered Wildlife Trust (EWT) drove the formation of the WSNR, and the brand-new reserve in the Soutpansberg encompasses a Centre of Endemism, a recognised Key Biodiversity Area, a Strategic Groundwater Source Area, and an expansive Critical Biodiversity Area 1 and 2 in the Limpopo Conservation Plan. The declaration of the reserve was published in terms of the National Environment Management Protected Areas Act in Limpopo Provincial Gazette notice 3635 (Notice No. 1013), and extensive plans for expanding the reserve are already underway. “The Soutpansberg mountains are home to an impressive 593 species of trees,…

IN a case activists said highlighted the vulnerability of elderly people to violence, particularly domestic violence, an 81-year-old woman died after she was allegedly assaulted by her son at a small farm holding. The incident happened on Sunday near Piketberg. The victim was taken to Tygerberg Hospital where she died on Tuesday. Rural and Farmworkers Development Organisation Executive Director, Billy Claasen, said: “According to reports, the 81-year-old woman was brutally assaulted by her 54-year-old son in the early hours of Sunday morning. She was taken to Piketberg Hospital under the pretence that she had suffered a sugar attack. “It is further reported that the medical personnel at the hospital informed the Piketberg police that it was indeed an assault. The victim passed away on Tuesday morning at Tygerberg Hospital. The…

The City has recorded a 55% increase in food-related service requests and issued over 200 fines related to the Foodstuffs, Cosmetics and Disinfectants Act 54 of 1972 and other legislation. November and December saw a marked increase in public complaints and queries around food matters in the wake of a number of high profile incidents that put food safety squarely in the spotlight, the City said. In 2023, the public logged 128 service requests for food-related matters. Most complaints related to dates of durability or what people perceive as expired foodstuff, unhygienic conditions at food premises and food quality concerns. In 2024, the number increased to 199, with notable increases in November and December. “The increase in complaints tracks with the increased publicity around food safety matters. It’s an indication…

Rubin Hermann had to sit on the sidelines and watch his younger brother Jordan rip up SA20 for the first two seasons. For any “Ou Boet” that must have been difficult waiting in the wings, especially with Jordan going on to be crowned a SA20 champion two years in a row with the Sunrisers Eastern Cape whilst being hailed as “the next big thing” in South African cricket by none other than Proteas legend AB de Villiers. Instead of moping around feeling sorry for himself, Rubin knew the only way for him to gain entry into the SA20 was by banging the door down domestically. And that’s exactly what he did by smashing 436 runs at an average of 39.63 for the North West Dragons in the CSA T20 Challenge.…

When Twenty20 cricket started it was nothing more than a “silly game”. Kevin Pietersen even referred to it in those very words. The Indians certainly wanted nothing to do with it. Not least because how broadcasters were going to squeeze a 100 overs of advertising revenue garnered from an ODI into 40 overs of a T20. But yet here we are almost 20 years on and it’s the biggest money spinner in world cricket. “KP” has also been long converted and is now a mouthpiece for the shortest format. That brings me to the SA20. Where does it sit in the eco-system of South African cricket? Firstly, it should never be viewed to be in competition with international cricket. The Proteas are a world renowned brand. And when they are…

The PSL must be kicking themselves for having allowed it. When Shauwn ‘MamKhize’ Mkhize purchased the status of Bloemfontein Celtic, there was some resistance from the fans of Siwelele about the club being moved from Mangaung. But, as PSL Chairman Irvin Khoza always says, the league cannot afford to have the livelihoods of employees being affected, and when Max Tshabalala told them that he could no longer afford to run Celtic, they had no choice but to let it be taken over by someone who could. Mkhize was the one with the money, and Celtic ceased to exist as Royal Andile Mpisane (RAM) came into being. Having failed to win promotion to the elite league in 2021 after Sekhukhune United won a boardroom battle, MKhize did what is generally considered…

The beleaguered Ithala Development Finance Corporation Bank, on the verge of liquidation, has won an order to claw back more than R10 million from Loyisa Consulting and Projects, which had been granted as a loan in 2011 ostensibly for a milk processing plant. This comes as the ANC and its alliance partners in KwaZulu-Natal will picket outside the Pietermaritzburg High Court on Friday when the Prudential Authority and Ithala Bank exchange legal blows inside. The High Court in Pietermaritzburg on Tuesday has ordered that the company, along with company principals Luyolo Lennox Makaula, Liziwe Pepeta and Donald Luthando Loyiso Pepeta, pay Ithala R10.1m jointly and severally and also pay interest at Ithala’s lending rate minus 2% or the maximum rate. The court also ordered that an over 810 hectares…

If you want to link that at all to Trump and his policies, I would argue that, well, if Trump hits us with some trade tariffs as well, that will immediately add another layer to anybody that would like to come and open a factory here or make investments in South Africa, because then over and above just the normal local challenges that we face, those kind of investors will need to take into account that then they also need to deal with additional tariffs over another hurdle if they would like to trade and operate from. On inflation trends, maybe more broadly, I think some of the most important policy changes that's on the table is around trade, as we already said. Trade is generally growth negative because it…

As the incoming managing director of Business Partners Limited, the start of this year is particularly exciting. It’s a true new beginning. It’s also a chance to reflect on the year that was and set strategic goals for the coming 12 months. But as every entrepreneur knows, New Year’s optimism can quickly revert to the daily grind if there isn’t a deliberate practice in place to review and revise those goals. Reviewing your goals allows you to reconnect with your business’s purpose and make sure you’re still on the right trajectory. Are there gaps that need to be addressed? Are there opportunities that haven’t yet been identified? Revising those goals ensures they remain relevant and aligned with your broader vision and mission. Let’s unpack how this process can set you…

Copper 360 has reached an agreement with Mulilo Reneweable Project Developments for the acquisition of a wind energy project in the Northern Cape for an initial cash consideration of R5 million. Copper360 said last month that the company was now transitioning towards steady state production at its recently commissioned Rietberg mine in the Northern Cape as it eyes improved grades. With copper emerging as a highly sought after commodity, Copper360 already has “offtake agreements in place for all the ore” to be produced from Reitberg. Further aiding its prospects, the company has now signed an agreement for the acquisition of 100% of Mulilo Springbok Wind Power, a project that was owned by Mulilo Renewable Project Developments. The Mulilo Springbok Wind Power project is establishing a 55MW wind energy generation facility…

UK-based wealth manager Quilter’s share price shot up 6% on the JSE after its strongest quarterly financial performance for the year saw Assets under Management and Administration (AuMA) rise by 7% in three months to December 31. Record core net inflows of £5.2 billion (R119bn) in 2024 from the company that separated from Old Mutual in 2016 were reported, with the fourth quarter inflow at £2bn, Quilter said in a trading statement Wednesday. Record quarterly Platform net inflows of £1.9bn represented 9% of opening AuMA of the company that has paid out regular dividends at an average growth rate of 12.5%. The share traded at R36.85 Wednesday afternoon, 55% higher than a year ago. “Our performance accelerated with each quarter incrementally stronger than the immediate prior quarter. Fourth quarter core…

MANGO business rescue practitioner (BRP) Sipho Sono has been unable to indicate whether or not the troubled state-owned low-cost airline will challenge the decision to cancel its licences. The Air Licensing Services Council cancelled Mango's licences in November. “Unfortunately I don’t have answers to those questions. We report progress to creditors on a monthly basis,” said Sono in response to whether or not a decision has been taken to review or appeal the council’s cancellation of the licenses and by when he is hoping to finalise arrangements with the potential partner to get the airline back in the skies. In his latest monthly update, Sono wrote: “The BRP regrets to inform creditors and affected parties that on November 15, 2024, the Air Services Licensing Council issued a letter notifying its…

In the heart of Cape Town, the Kirstenbosch National Botanical Garden is not only a sanctuary of nature’s beauty but also a testament to the dedication and passion of individuals who have devoted their lives to preserving South Africa’s botanical heritage. Kirstenbosch hosted its Long Service Awards Retirees’ Function last month, in a heartfelt tribute to four extraordinary individuals who have collectively dedicated over 150 years to the garden. This moment celebrated not just milestones but a lifetime of service, commitment, and unwavering love for the environment and their community. Natalie Fredericks’ story at Kirstenbosch began in June 1984, marking a poignant return to the place her family had been removed from during apartheid. For her, Kirstenbosch was more than a workplace; it was a homecoming. “It felt like being…

One of the victims of the men who allegedly barged into a Khayelitsha church and forced the congregants to perform oral sex on them, told the court how the accused told them to pretend like the church service was still on, and asked who could play the drums before she was assaulted. Nineteen mothers and their children had spent the night at Zion Church in Site C during the Easter Weekend of April 2023. Accused Yamkela Jobo and Okuhle Beya allegedly barged into the shack while the victims were sleeping, forcing the congregants to perform oral sex on them. The pair pleaded not guilty to the 21 charges against them at the beginning of the trial at the Khayelitsha Regional Court. The first witness took the stand on Tuesday, and…

Ruben Amorim sought to clarify yesterday his bombshell statement that his Manchester United side are "the worst team" in the club's history, with the manager accepting a share of responsibility for the crisis at Old Trafford. United's 3-1 defeat against Brighton on Sunday was a sixth loss in their past nine Premier League games under Amorim, who arrived in November to replace the sacked Erik ten Hag. The club, languishing in 13th place in the Premier League table, face Scottish giants Rangers in the Europa League tonight, a competition in which they are well-positioned to qualify for the knockout stages. Former Sporting Lisbon boss Amorim, 39, addressed his post-Brighton comments during a pre-match press conference on Wednesday. "I was talking more about me than the players," he said. "I also…

Defending champion Jannik Sinner raced into the Australian Open semi-finals yesterday in imperious fashion, after Iga Swiatek was equally ruthless to close on a first Melbourne crown. Italian world No 1 Sinner swept aside an out-classed home hope Alex de Minaur 6-3, 6-2, 6-1 to silence Rod Laver Arena and set up a meeting with 21st seed Ben Shelton. The other semi-final is between 10-time Australian Open champion Novak Djokovic and world No 2 Alexander Zverev, with both taking place tomorrow. Sinner had dizzy spells in the scorching heat of the afternoon during his four-set win against Holger Rune on Monday. But in much cooler evening conditions, the 23-year-old was back to his brilliant best against eighth seed De Minaur, who has still never beaten Sinner in 10 matches. "(Yesterday)…

Thirteen prominent industrial clusters from around the globe have recently joined the World Economic Forum’s (WEF) Transitioning Industrial Clusters initiative. This global coalition now encompasses 33 clusters across 16 countries and five continents, showcasing an unprecedented commitment among co-located companies and public institutions to tackle greenhouse gas emissions while fostering economic growth and job creation. Initially launched at COP26 in 2021 in collaboration with Accenture and the Electric Power Research Institute (EPRI), the initiative represents a significant collective might, with the 33 signatories poised to reduce carbon dioxide-equivalent emissions by an impressive 832 million tons—equating to the annual emissions output of Saudi Arabia. Furthermore, they contribute approximately $492 billion (R9 trillion) to global gross domestic product (GDP) and sustain 4.3 million jobs worldwide. This month, a new report, co-produced by…

Port congestion frequently makes headlines, as bottlenecks exporting and importing goods constrain multiple sectors of the economy including retail, mining, agriculture, and manufacturing. For years, systemic issues at the ports have remained unresolved, stifling growth, job creation, and tax revenue generation. Clothing retailers at times bemoan reduced sales due to insufficient seasonal or fashionable inventory in store as clothing stock gets stuck on ships waiting to enter the ports. Similarly, mining firms have been unable to fully capitalise on commodity booms, such as the surging coal prices of 2023 with minerals remaining in the ground despite demand for them abroad. Agriculture suffers equally. Fresh fruit or even wine destined for international markets frequently gets stuck in South Africa’s ports, arriving overseas too late to be sold. Cancellations and contract terminations…

In a move set to make the life of business owners in the country easier, the South African Reserve Bank (SARB) granted regulatory approval for a groundbreaking partnership designed to revolutionise SME banking in South Africa. This collaboration, powered by Access Bank South Africa Ltd and driven by Sava, will introduce Africa’s smartest digital banking platform, enabling SMEs to take full control of their financial operations and unlock new growth opportunities. Established in 2022, Sava is a digital banking platform tailored to the needs of African businesses. The Prudential Authority (PA), a division of SARB tasked with regulating banks, formally approved Sava’s digital banking platform, marking a significant milestone in financial innovation for small and medium-sized enterprises. Sava said it recently partnered with Mastercard to leverage Sava’s payment transaction system…

Zimbabwean Finance Minister, Mthuli Ncube, is concerned that inward looking policies under newly inaugurated US President Donald Trump could result in higher inflation, elevated interest rates, and a stronger greenback, which could hurt emerging market currencies and capital flight as investors chase treasury bills. Trump is adopting policies that prioritise the United States’ interests. He has already signed Executive Orders withdrawing the US from the World Health Organisation (WHO) and limiting foreign aid, among others. Emerging market finance ministers meeting in Davos for the 2025 World Economic Forum (WEF) Annual Meetings are concerned that this could have implications for their economies and funding flows for critical sectors such as healthcare. Ncube told a media briefing from Davos on Wednesday that he was concerned that higher interest rates and a stronger…

The Private Student Housing Association (PSHA) has warned that students may not be able to return to accommodations if the National Students Financial Aid Scheme (NSFAS) fails to pay outstanding debt within the next 14 days. The association, which provides accommodation to more than 80 000 students, said NSFAS owes a sum of R44 million to its members, from 2024. The association warned this could potentially disrupt the academic year’s resumption for 2025 and create a nightmare scenario for both students and their parents. In a statement on Monday, the PSHA board said the non-payment compromises the sustainability of running private accommodation businesses. Chief Executive Officer Kagisho Mamabolo said the PSHA regrets having to adopt this tough position, but it is something they are unable to avoid. Mamabolo said the…

COUNSEL for Eastern Cape High Court Judge President Selby Mbenenge, who is accused of sexually harassing a junior judge’s clerk, told the complainant that the judge has never sent her a picture of his private part or any private part. “This allegation by you has embarrassed my client for all this time, actually for years,” Advocate Muzi Sikhakhane told Andiswa Mengo. Mengo was on the witness stand for eight days before the Judicial Conduct Tribunal, which is hearing her complaints regarding Judge Mbenenge. In referring to her allegation that Judge Mbenenge had sent her a picture of his private part, Sikhakhane told Mengo he now wanted the truth, so that both she and Judge Mbenenge can move on with their lives. “I put it to you he never sent you…

A Cape Town women has been nabbed for her alleged involvement in compromising clients’ card information while she was employed at a car rental service at the Cape Town International Airport. She was expected to appear in the Kempton Magistrate’s Court yesterday after being arrested by Border Patrol for fraud relating to card-cloning crimes. The Hawks confirmed the arrest, with the woman to appear in transit yesterday before her next appearance in Cape Town. Hawks spokesperson, Zinzi Hani, said the woman was arrested on Tuesday. “The Border Police have arrested a 34-year-old suspect at OR Tambo International Airport on charges of Electronic Communications Act and Cybercrimes Act while returning on a Qatar flight. Immediately after the arrest, the investigation officer was informed about the suspect’s arrest,” said Hani. Hani said…

A captivating new film tells the story of a student’s rebellious actions during the 1985 anti-apartheid uprising on the Cape Flats. His actions result in horrible consequences for his family, girlfriend, friends, and community, but ultimately contributes to the establishment of a free and democratic South Africa. Athlone ’85 is inspired by true-life events with the premiere screening of the film being held at the Artscape Theatre on February 20. Athlone ’85 utilises a mixed-genre approach to explore complex social and political issues like racism, corruption, and gender-based violence through the journeys of compelling characters. It evokes empathy, gives a voice to the silenced, and shows how individuals can overcome hardship and bring about positive change. Set on the Cape Flats, the film portrays relatable struggles that resonate with a…

Formula 1 fans and journalists piled up in the cold and misty weather on a bridge overlooking the Fiorano circuit in Italy where Lewis Hamilton was taking his first lap in a Ferrari. Fans braved the cold to hopefully catch a glimpse of the seven-time World Champion steering the crimson horse around the Ferrari test track. Scuderia Ferrari shared visuals on X showing Hamilton leave Enzo Ferrari’s famous farm home and getting into his new car. Visuals from Sky News showed a thick layer of mist over the track, as Hamilton could barely be seen weaving his way around the circuit. Fans voiced their opinions about the 2025 Ferrari pair, which includes Hamilton and Charles Leclerc, and hopes for the upcoming season. “Charles is a little bit faster on the…

According to AmaZulu head coach Arthur Zwane, Stellenbosch are expected to field their strongest possible XI against them in their Betway Premiership encounter. The two teams will do battle at the King Zwelithini Stadium today at 7.30pm in what is simmering up to be one of the clashes of the round. Usuthu watched on at the weekend as Stellies suffered an embarrassing 5-0 loss to Moroccan side RS Berkane in the CAF Confederation Cup group stages. However, what stood out more for ‘10111’ is how his counterpart Steve Barker rotated his team in North Africa. The likes of Bafana Bafana duo Fawaaz Basadien and Devin Titus, alongside New Zealand-born Andre de Jong started the game on the bench and made cameos in the final 20 minutes of the game. Although…