Índice para 2025-05-02 em Cape Times

Steelmaker ArcelorMittal warned Wednesday that tariff uncertainty could cause further economic disruption as its global footprint helped it weather the turbulence in the first quarter. The Trump administration has slapped 25 percent tariffs on imports of aluminium and steel, but its wider tariff measures on its major trade partners -- many of them on hold as negotiations are under way -- threaten to stall global economic growth as both businesses and consumers hold back on purchases. "Heightened uncertainty around the terms of global trade is hurting business confidence and risks causing further economic disruption if not quickly resolved," ArcelorMittal's chief executive Aditya Mittal warned. However, the company beat analyst expectations by posting a net profit of $805 million in the first quarter, although that was a decline of 14 percent…

The revised budget includes processes as set out in the Money Bills and Related Matters Act Finance Minister Enoch Godongwana has assured the country the National Treasury has already commenced work on developing a new fiscal framework that will maintain the trajectory toward debt stabilisation. This is a crucial element in strengthening the country's public finances amidst deteriorating fiscus. In March, Treasury projected that gross debt-to-GDP will stabilise in at 76.2% of GDP in the 2025/25 fiscal year, compared with 76.1% in the 2024/25FY, before declining gradually thereafter. It comes after Godongwana decided to rescind his decision to implement a 0.5 percentage points increase in the value-added tax (VAT) following litigation. The VAT increase proposal was in a bid to raise about R60 billion for the fiscus, which is facing…

African countries have started a dialogue with major credit ratings agencies seeking a fair and just systematic ratings to their sovereign credit statuses in a bid to reshape the continent's financial landscape. This comes afte a pivotal dialogue convened in Washington, uniting African institutions and global credit rating agencies to explore the creation of a fair and inclusive credit rating ecosystem tailored for Africa amid rising market volatility and sovereign defaults. This engagement, which unfolded on the sidelines of the 2025 IMF–World Bank Spring Meetings, has marked a significant step toward addressing the myriad challenges faced by African economies in the global financial landscape. With South Africa chairing the G20 and the African Union expecting permanent status in 2025, the urgency for an African-led credit rating solution is more pressing…

South Africans in certain parts of the country are experiencing an icy spell which is projected to continue over the next few weeks. The South African Weather Service issued an Orange Level 5 Warning last week for severe thunderstorms across parts of Gauteng, Mpumalanga, and Limpopo. The icy weather is part of a powerful weather system called a ‘cut-off low’, which brings heavy rain, low temperatures, and snow in certain areas. Flooding and storms can cause significant damage to your home and belongings, so it is critical to ensure you are prepared. As winter approaches, it is critical to ensure that you are financially protected against the damage that can be done by severe weather systems such as this one. Having the right building, home, and car insurance in place…

MTN Nigeria Communications has reported a substantial increase in its subscriber base and an financial turnaround for the quarter ending March 31. The mobile network operator and biggest subsidiary of JSE-listed MTN Group added 3.2 million new subscribers, boosting its total subscriber count by 8.2% to reach 84.1 million in a period marked by economic challenges. Once jeopardised by macroeconomic policy shifts that led to the naira's substantial depreciation, MTN Nigeria’s latest results reveal a robust recovery. In a stark contrast to a taxed loss of N392.7 billion during the same period last year, the company announced a profit of N133.7bn, reflecting an ability to adapt and thrive amidst economic turbulence. “We reported a significant turnaround in our bottom line. This reflects the successful delivery of the five strategic priorities…

Jubilee Metals Group, the diversified metals recovery company with operations in South Arica and Zambia, said Wednesday that the trials of processing various high-grade copper ores at its Roan concentrator are nearing completion. The results from these trials will be used to select material for a long-term supply agreement, the company said in an update of its Zambia operations on the JSE’s news service. Finalisation of the trials on the various types of high-grade materials will be completed over the coming two weeks, which is critical to the selection of the optimal mix of high-grade copper materials. “The initial results have confirmed the potential for Roan to maintain a significant increase in copper production rate on the high-grade copper material, which supports the decision to transition Roan to this high-grade…

Justice and Constitutional Development Minister Mmamoloko Kubayi says acts of violence will not intimidate or undermine the work of the NPA following the murder of rising star prosecutor Elona Sombulula in Ngcobo, Eastern Cape. NPA spokesperson, Luxolo Tyali, said the killing Sombulala, 30, who was acting as Regional Court prosecutor, has sent shock waves through the legal fraternity. “It is with deep shock and profound sadness that the NPA confirms the untimely death of Elona Sombulula, a young District Court prosecutor, based in Ngcobo Magistrate’s Court. He was just 30 years old. He joined the NPA through the aspirant prosecutor programme in 2022. He was acting as Regional Court prosecutor when he was shot on the evening of Tuesday. “Our thoughts are first with Sombulula’s family, friends, and colleagues.…

The rhythm may have faded and the lights dimmed on this past weekend’s Cape Town International Jazz Festival, but the energy is still pulsing through the city. With over 24 000 people in attendance, the Mother City was alive with music, connection, and culture - an unforgettable experience. And just as the city starts to return to its usual tempo, espAfrika, the powerhouse organisers behind the festival, have dropped another beat: next year’s festival will take place on March 27 and 28, 2026. Pulling off a festival of this magnitude was no small feat. It took grit, grace, and sheer determination - and the exceptional team of women behind the scenes delivered with brilliance. “This year’s festival was a labour of love, a celebration of resilience and a return to…

Kaizer Chiefs will be under immense pressure to deliver what may be their most pivotal result of an up-and-down season when they host arch-rivals Orlando Pirates at FNB Stadium on Saturday (3pm kick-off). Amakhosi are in danger of finishing outside the top eight for a second consecutive season, currently sitting ninth with 30 points – level with Chippa United, who still have a game in hand over the Soweto side. This will be the first of two Soweto Derbies between the sides, with a high-stakes Nedbank Cup final set for exactly a week after their league clash at Moses Mabhida Stadium – where more than just pride will be on the line, as both clubs are in desperate need of victories in both encounters. Nasreddine Nabi and his charges suffered…

Some Bulls fans on social media bemoaned the fact that the Pretoria side opted not to kick a late penalty at goal in last week’s epic victory over Glasgow Warriors in Scotland. The outcry came about as another three-pointer would’ve denied the defending champions a valuable losing bonus point. It ended 26-19 at Scotstoun Stadium, which meant that Glasgow remained a point ahead of the Bulls on the United Rugby Championship log on 59, compared to 58 for the third-placed South Africans. But there was method to the madness. Coach Jake White explained afterwards that it was a case of securing the victory rather than risking a possible draw, as the ball could have bounced off the uprights or landed in Glasgow’s hands, from which they could launch a counter-attack.…

Electricity and Energy Minister Kgosientso Ramokgopa has put forth a bold proposal aimed at rethinking the global approach to energy finance. Speaking on the G20 Transition Working Group, Ramokgopa urged the Summit to consider practical frameworks for concessional financing, de-risking energy infrastructure, and unlocking transmission grids—all crucial enablers for fostering inclusive growth across the globe. Speaking at the second day of the G20 Electricity Energy Summit in Cape Town, which focused on global energy efficiency strategies and affordability challenges, Ramokgopa said these were not abstract goals but preconditions for energy justice. Ramokgopa said the G20 countries were the next frontier of opportunity, representing more than 85% of global GDP and nearly 80% of global emissions, which brought responsibility, not only to immediate constituencies, but to the billions of people whose…

The recent April 2025 Household Affordability Index released by the Pietermaritzburg Economic Justice and Dignity Group (PMBEJD) has revealed that the average cost of the Household Food Basket has increased by R90.94 (1.7%) from R5 329.36 in March to R5 420.30 in April. This increase has ignited concerns from various civil society organisations regarding the affordability of food amidst rising living costs. According to the PMBEJD, of the 44 foods tracked in the basket in April, 24 foods increased in price, and 20 foods decreased in price. Mervyn Abrahams, PMBEJD programme co-ordinator, said food affordability remained a pressing issue, particularly in light of the year-on-year comparison, where the Household Food Basket has risen by R83.99 (1.6%) since April 2024 Abrahams said the details of the increases were stark, with…

Datatec, the international information and communications technology (ICT) company, was admitted to the OTCQX trading platform in the US on Wednesday to broaden international investor access. The share opened at $2.25 on the OTCQX Market on Wednesday. The over-the-counter market in New York is a platform for companies listed on a qualified international exchange to provide transparent trading to US investors using a US Dollar quoted share price. On the JSE, Datatec's share price was up by 1.68% to R58.27 on Wednesday afternoon, a price that was 59% higher than a year previously. It enables companies to disseminate their home market reporting to make their information available in the US. To qualify for OTCQX, companies must meet high financial and reporting standards, follow best practice corporate governance, and demonstrate compliance…

Cybercrime has become the single biggest threat to businesses worldwide. According to the Allianz Risk Barometer 2025, cyber incidents — including ransomware attacks, data breaches and IT outages — are now the top global business risk, marking their fourth year at the top. A decade ago, only 12% of global respondents cited cyber as a major concern. In 2025, that number surged to 38%. Allianz noted, “Cyber is the top risk across North and South America, Europe, and Africa,” dominating industry concerns from aviation to legal services. More importantly, it now ranks as the number one risk in South Africa, overtaking long-standing issues like load shedding and political instability. This concern is not just theoretical Two recent, high-profile cyberattacks—one on mobile telecommunications provider Cell C and another on the South…

THE Department of Correctional Services has been given 12 months to prepare and promulgate a revised policy relating to use of personal computers in inmates’ cells to further their education. This after the Constitutional Court dismissed an appeal brought by the Minister of Correctional Services challenging the judgment of the the Supreme Court of Appeal (SCA) which ruled in favour inmate Mbalenhle Sidney Ntuli. In a unanimous judgment, the court held that the blanket prohibition on personal computers in inmates’ cells infringes the right to education, because inmates cannot access reading material for their studies and complete educational tasks when they are in their cells. The court held that the right to further education enshrined under section 29(1)(b) of the Constitution plainly encompasses access to textbooks and other tools…

Orlando Pirates right back Bandile Shandu stood on business when he previewed Saturday’s Soweto derby clash against arch-rivals Kaizer Chiefs (3pm kick-off). Deep in the bowels of The Venue in Melrose Arch on Thursday afternoon, Shandu evaded all personal questions as he answered about the derby. The media hounds didn’t only try to squeeze answers out of him on how he feels about being back on the field after a lengthy injury, but about the team’s recent losses as well. Pirates crashed out of the CAF Champions League semi-final after losing 3-2 on aggregate to Pyramids, with all the goals coming in the second leg in Cairo last Friday. And as if things couldn’t get worse, they lost 1-0 in the follow-up clash in the Premiership to Sekhukhune United at…

Despite mixed form from both clubs and Mamelodi Sundowns’ dominance, the Soweto Derby continues to hold its place as South Africa’s most anticipated and culturally significant football event. Kaizer Chiefs and Orlando Pirates will meet this Saturday at FNB Stadium in a Betway Premiership match, before facing off again a week later in the Nedbank Cup final at Moses Mabhida Stadium. Back-to-back derbies are rare, and while both teams find themselves in different positions on the table, the significance of the fixture hasn’t changed. Chiefs come into the weekend sitting in ninth place, out of the running for any league silverware. Pirates, meanwhile, are still mathematically in the title race, nine points behind Sundowns with two games in hand. While a league title push is a long shot, they have…

The clear and present danger facing the Proteas’ Women’s team in Friday’s Tri-Series ODI clash (6.30am start) against Sri Lanka is home team captain Chamari Athapaththu. The powerful left-handed opener has been a thorn in the Proteas’ side since first coming up against the girls in green way back in 2013. The intervening years have done nothing to diminish Athapaththu’s powers. In fact, the 35-year-old has only become stronger and more skilful, as she notably illustrated last year when she clubbed 258 runs to help Sri Lanka share a first-ever ODI series with the Proteas. Athapaththu’s magnificent 195 not out in Potchefstroom not only bettered her Proteas counterpart Laura Wolvaardt’s undefeated 184, but also helped Sri Lanka chase down a record 301 in one of the most memorable Women’s ODIs…

There will be one last shot at a piece of silverware for the Blitzboks when they start the SVNS World Championship in Los Angeles on Saturday. While a victory in Cape Town in December was the last time the Springbok Sevens lifted a trophy, they’ve shown glimpses throughout the season of their abilities, and will have to put everything together over the weekend if they want to win. It’s the all-important trophy they want to fight for in the one-off competition, and it will be a clear indication for head coach Philip Snyman of the growth or lack thereof in the side over the last couple of months. There is no argument that they are in the so-called ‘group of death’, facing last season’s Championship victors France, SVNS Series winners…

Minister for Trade Industry and Competition (the dtic), Parks Tau, has clarified that the newly proposed R100 billion Transformation Fund will not leverage Competition Commission settlements as a means of financing. This statement comes in light of growing concerns regarding the Fund's financial structure and its necessity given ongoing black empowerment programmes already in place. During a media briefing on Wednesday, Tau asserted that the establishment of the fund is not intended to undermine existing empowerment initiatives. On the contrary, he described it as an aggregator of all current efforts, designed to augment resources from both government and private sector empowerment allocations, including direct equity contributions. "Competition processes with large transactions, mergers and acquisitions date from a process that fundamentally deals with competition issues and you cannot predetermined the outcome…

The Jobs Fund has announced a new funding round aimed at tackling the pressing employment challenges facing South Africa's green and informal economies. As unemployment rates soar, particularly among the youth and women, this initiative represents a concerted effort to stimulate job creation and foster inclusive economic growth. According to the National Treasury, the Jobs Fund has made significant strides in transforming the labour landscape since its inception, disbursing R7.4 billion to various partners. Treasury on Wednesday said the previous funding rounds resulted in the creation of more than 210 000 permanent jobs, alongside 114 534 short-term positions and internships. The support extended to more than 63 000 small, medium, and micro-sized enterprises (SMMEs) and approximately 16 000 emerging farmers speaks volumes of the Fund's commitment to economic upliftment. With…

Sibanye-Stillwater has announced achievements in its environmental stewardship, receiving an ‘A-’ rating for climate change disclosure and a ‘B’ rating for water disclosures from CDP, a highly respected non-profit organisation renowned for its global environmental disclosure system. Sibanye-Stillwater on Wednesday said this recognition underscored the company's commitment to transparent reporting and sustainable practices. The award-winning climate rating affirmed Sibanye-Stillwater's ongoing efforts to tackle the pressing challenges posed by climate change. Maintaining an ‘A-’ rating reflects the company’s sustained dedication to implementing strategies that align with its ambitious goal of achieving carbon neutrality by 2040. This commitment is central to the Group’s operational ethos, which aims to foster resilience while contributing positively to local communities. In contrast, the Group’s water disclosure rating saw a slight decrease from an 'A-' to a…

Many people dream of financial freedom, but the path to achieving it is often misunderstood. It’s not a destination you can reach overnight but rather a carefully navigated journey. To succeed, you must focus on the long term, make smart adjustments, and understand the importance of managing risks and diversification. Maintain a long-term focus – don’t be discouraged by short-term issues It’s essential to set goals to stay on track. Define what financial freedom means to you – whether it’s retiring comfortably or achieving a specific return (such as a certain percentage above inflation) – and let that goal guide your decisions. These investments often promise high returns, but they come with a wide range of unpredictable outcomes. From that perspective, the wealth planning value of these assets is poor,…

Turkish cell phone group Turkcell on Tuesday won a Supreme Court of Appeal (SCA) judgement that will allow its $4.2 billion (about R78bn) claim against MTN Group to be heard in a South African court. Turkcell Iletisim Hizmetleri A.S (Turkcell) and its owned subsidiary, East Asian Consortium (EAC), previously instituted legal action in the High Court of South Africa against MTN and certain of its subsidiaries in 2013, in which action Turkcell and EAC made allegations of impropriety in the award of the first private mobile telecommunications license in Iran. MTN’s board appointed an independent special committee in 2012 to investigate the allegations and it exonerated MTN. The South Africa-based telecoms group, which operates in 16 pan-African markets, said Wednesday it would appeal the SCA decision. It said the judgement,…

PLANS to mine a phosphate deposit within the borders of the West Coast National Park have triggered yet another legal battle by environmentalists who say the move raises the stakes high, especially with the promise of further land swaps. At the centre of the controversy is Kropz Plc, a phosphate mining company with an operation at Elandsfontein on the West Coast. It is inching ever closer to the boundary of the West Coast National Park, a move opposed by the environmental conservation organisation, World Wide Fund (WWF). Concerned about the potential long-term damage to the area's irreplaceable biodiversity, WWF has since taken the battle to court in an effort to halt the company's plans to mine a phosphate deposit within the borders of the West Coast National Park. “The mining…

THE families and survivors of apartheid-era crimes have rejected the President’s proposal that the inquiry into alleged improper influence in delaying or hindering the investigation and prosecution of these crimes also address the declaration of their rights and their constitutional damages claims. Their reasoning is clear, a commission of inquiry lacks the legal authority to determine rights or grant remedies. President Cyril Ramaphosa's announcement comes following settlement negotiations with families of victims of apartheid-era crimes who had sued the President and the government for constitutional damages over the gross human rights violations under apartheid. The families alleged they were denied their right to justice due to political interference and suppression of the cases by the Truth and Reconciliation Commission (TRC), which was established to investigate political crimes such as murder,…

In honour of the achievements and tireless efforts of Cape Town’s own Dr. Athol Williams, who has worked to uplift the Cape Flats and inspire the nation, Read to Rise, along with the Mitchell’s Plain community, unveiled a 10-metre mural celebrating his legacy. The mural measures 10 by 8 metres and is located along Eisleben road between Silversands Avenue and Morgenster Drive. “'I am deeply moved by the recognition. I hope the mural will inspire those who encounter it,” a proud Williams said. Williams, who grew up in Mitchell’s Plain, was a co-founder of Read to Rise which has inspired hundreds of thousands of young people to read and has made new reading books available to them. He has contributed to numerous other educational causes and schools, including his high…

A tell-tale sign of a championship-calibre team is their ability to perform well even when not playing their best football. Stellenbosch FC, who had recently endured a taxing schedule that included matches in the CAF Confederation Cup semi-finals, struggled to find their rhythm against Chippa United on Wednesday night. Yet, undeterred by fatigue and lacking fluidity, the Cape outfit displayed the grit and determination needed to claim all three points with a 1-0 Premiership victory at the Danie Craven Stadium, thanks to a late strike from Sanele Barns. “You know, both teams obviously had a lot of desire to achieve different objectives,” Barker said. “Obviously, coming back after Sunday and a lot of the travel and that, I could see there were signs of fatigue amongst the players. But fortunately,…

THE importance of Kaizer Chiefs getting a positive result in Saturday’s Soweto Derby against Orlando Pirates cannot be overestimated. Granted, the big one is next weekend’s Nedbank Cup final clash between the two clubs in Durban, which will be much more tangible for the Amakhosi, given they will have a trophy to show for their efforts should they dethrone the champions. But the value of securing three points in their home match at the FNB Stadium (3pm kick-off) would be massive for Chiefs as they look to avoid missing out on a top-eight finish two seasons in succession. Chiefs finished 10th last season, and are currently out of the top eight spots, with less than a handful of matches to go. It’s almost win or bust for the Amakhosi, and…

Orlando Pirates may have just played their last strong hand in the Premiership title race. And as close as they came, their latest defeat to Sekhukhune United could prove to be a critical blow – perhaps the final knock that will make it difficult for them to mount a serious pursuit of their long-awaited 10th league crown. Coming into the season, the Buccaneers were widely tipped as the most likely challengers to end Mamelodi Sundowns’ dominance. More than any other team, they seemed best equipped to launch a formidable campaign – and for large parts of the season, they did just that. Their MTN8 triumph earlier in the season stands as proof of the remarkable foundation laid by Jose Riveiro and his technical team – measured not just in trophies,…

It took the Junior Springboks a wake-up call in the second half to get going in their Under-20 Rugby Championship opener against Argentina in Gqeberha on Thursday. A try shortly after the break by the Pumitas opened a double-score advantage to them to place pressure on the South Africans in front of their fans. But three additional tries by the home team, thanks to some enterprising play between the backline and forwards, secured a 36-25 victory at the Nelson Mandela Bay Stadium. SA are atop the Championship standings with four points after New Zealand and Australia drew 29-29 in the first clash on Thursday. While the visitors were first to score in the second half, it was the South Africans who comfortably dominated proceedings as their opposition tired as the…