Índice para 2025-07-03 em Cape Times

The Presidential Climate Commission (PCC) has poured cold water on a report by advocacy group Open Secrets, which accuses consultancy firms and their intertwined relationships with business interests of systematically looting funds allocated for South Africa's Just Energy Transition (JET). The report, titled The Climate Consultants; How management consultants cash in on the climate crises, outlines serious allegations regarding the influence of private sector technocrats on government climate policy, while simultaneously consulting for fossil fuel companies implicated in worsening the climate crisis. The report describes how much of South Africa’s Just Energy Transition (JET) plan is being financed by a $12.8 billion pledge from France, Germany, the United Kingdom and the European Union. Most of the money so far provided is in the form of concessional loans, which means it…

Officials cite ‘deal fatigue’ after Competition Tribunal scheduled a hearing too late Sun International’s R7.3 billion acquisition of Peermont has been terminated after the Competition Tribunal scheduled a long-awaited hearing too late for the deal to legally proceed, while “deal fatigue” had set in among the parties. In an extraordinary event, the Competition Tribunal had scheduled hearings for the Sun International and Peermont deal to be heard on October 2, 2025. The Competition Tribunal is a condition precedent to the transaction, which currently has a longstop date of September 15, 2025. “Accordingly, as the hearing date is after the regulatory longstop date, the parties have mutually agreed to the immediate termination of the Proposed Transaction,” Sun International said. However, the Competition Commission denied it was the cause of delays in…

The World Shipping Council (WSC) Container Lost at Sea 2025 report indicated that 576 containers were lost at sea in 2024, which is an increase from 221 containers lost in 2023 but remains well below the 10-year average of 1,274 containers lost annually. The report also indicated that 200 containers were lost around the region of the Cape of Good Hope in South Africa. A master mariner believes that even a small loss of containers is a concern for shipping lines. The report said that the figures underscore continued industry progress on safety and prevention. “Container losses in 2024 were influenced by ongoing disruption in the Red Sea region, which led to a significant shift in global trade routes. Vessel transits around the Cape of Good Hope increased by…

S&P Global Ratings has upgraded African Bank’s long-term global scale issuer credit rating to ‘B+’ from ‘B,’ with a stable outlook, and affirmed the short-term global scale rating at ‘B.’ - the only local bank to have its rating raised by the issuer, while the ratings of other banks were affirmed. S&P Global affirmed the ratings of Absa Bank, BNP Paribas Personal Finance South Africa, Capitec Bank, FirstRand Bank, Investec Bank, Nedbank, and the Development Bank of South Africa. “In our view, the South African banking system is now in an expansion phase,” S&P said on its website. On African Bank, S&P said the upgrade reflected the bank’s more supportive economic environment, coupled with strong capitalisation that partially compensated for its weak asset quality indicators. “We expect African Bank will…

One of the country's oldest civil society and human rights organisations, Black Sash, celebrated its 70th anniversary at Constitution Hill in Johannesburg yesterday. Established in 1955 by a group of white women activists, Black Sash has been at the forefront of some of the most fervent human rights campaigns, having taken the government and other entities to court over various human rights violations. In recent years, this formidable organisation has turned its attention to tackling issues of social protection, dignity, and democracy on behalf of millions of social grant recipients, who continue to bear the brunt of indignity, shame, and inequality more than 30 years since the advent of democracy. Black Sash's regional manager and advocate for social justice, Thandiwe Zulu, commended the founding members and those who dedicated their…

At just 14 years old, Imkhitha Joya from Old Crossroads in Nyanga, is one of South Africa’s brightest young talents in chess. She’s earned national recognition and international invitations - now all she needs is the public’s help to keep her momentum going. Earlier this year, Imkhitha was crowned South African U14 Girls Chess Champion after finishing undefeated at the Junior Closed Chess Championships. She also swept the Western Cape High Schools U15 Girls section, winning every game with a perfect score of six out of six. Her CHESSA rating now stands at 1811, making her the top-ranked U14 girl and 6th overall among female players in South Africa. Despite these remarkable achievements, the road has not been easy. This year Imkhitha qualified to represent South Africa at the African…

The Department of Sports, Arts and Culture ( DSAC) has called the allegations made by the Cape Town Grand Prix SA (CTGPSA) team as “utterly baseless”. CTGPSA, this week, suggested that the Minister of Sport Gayton McKenzie acted in the best interests of Kyalami’s F1 bid and labelled the Bid Steering Committee (BSC) as a biased group, who also acted in Kyalami’s interests. CTGPSA also raised concerns about the BSC’s handling of the R10 million deposit, which was part of the bid application process. Cape Town has proposed a street-style circuit, similar to that of Monaco. In order to bid to host the F1, each group had to submit an application motivating their location as well as making a deposit of R10m. CTGPSA wanted to pay the deposit with a…

The Government Pensions Administration Agency (GPAA) has responded to recent concerns surrounding a document that has raised eyebrows within the public domain. A week ago, the Public Service and Commercial Union of South Africa (PSCU) raised alarm over alleged financial mismanagement of pension funds amounting to more than R500 million at the GPAA. According to a preliminary internal audit report for the 2024/25 financial year, compiled by Abacwaningi Business Solution (ABS) Audit & Advisory Services, there are a number of key governance concerns at the GPAA, which the auditors have brought to the attention of management to ensure sound governance. The GPAA is a government component which reports to the Minister of Finance and administers funds and schemes on behalf of the Government Employees Pension Fund (GEPF), the largest pension…

There is a quiet war being waged across the globe. Not with guns or tanks, but with ideas, influence, and narratives. At its heart lies a question that should haunt any country born of struggle: who gets to tell our story, and on whose terms? South Africa, once a beacon of hope in a world riddled with racial injustice, stands today at a painful crossroads. Our democracy, though hard-won, has been hijacked by elite capture, economic exclusion, and the slow erasure of our liberation ideals. And in the realm of global discourse, we have surrendered our voice to the same Western machinery that once labelled our freedom fighters terrorists. It is in this context that the message of BRICS, and particularly the recent "Legacy of Hope" initiative, must be understood.…

When I wrote about the 2024 Global Startup Ecosystem Report (GSER) last year, it felt like the world of startups was holding its breath, hopeful, but cautious. We were all waiting to see what would come next. Now, here we are in 2025, and that moment of pause is well and truly over. The startup world has exhaled and taken off in a full sprint, straight into the AI era. This year, the newly released GSER 2025, now in its 13th edition, hits a different note entirely. It doesn’t just take stock of where we are, it challenges us to rethink where we’re going. With insights drawn from over 5 million startups across more than 350 ecosystems, this year’s report is, more than anything, a bold invitation to act. Each…

Hong Kong is expected to lead the world in initial public offering (IPO) financing this year despite uncertainty from geopolitical tensions and trade tariffs, accountancy giant PwC said on Wednesday. The Chinese financial hub's capital market has rebounded strongly this year, with dozens of Chinese companies piling into the city to raise overseas capital despite regulatory pressure from Beijing and uncertainty over its national security laws. PricewaterhouseCoopers (PwC) said its statistics suggest nearly 100 companies will raise at least HK$200 billion (R450bn) in Hong Kong this year. It said Hong Kong's IPO wave has benefited largely from policy support from the Chinese government and optimised listing rules by Hong Kong regulators that include streamlining approval processes. "The improved market liquidity and rising international investor demand for core Chinese assets also…

Pick n Pay’s 2025 financial year represented the first leg in what will be a multi-year turnaround to sustainable, long-term profitability, CEO Sean Summers said in the annual report. The Pick n Pay trading loss had been reduced by two thirds, against the group’s target of a 50% reduction, and it was debt free. The supermarket estate was leaner, stronger, more targeted and better positioned for profitability. “This progress is only the beginning, it is meaningful and has laid the essential groundwork for the next phase of recovery,” he said. Priorities for the 2026 financial year were to raise execution standards across the store network, accelerate investment in the estate, enhance the offer, and embed operational efficiencies that drive performance and simplicity, he said. He said that in 2025, the…

Judges' Secretary Zintle Nkqayi will enter her third day of testimony today before the Judicial Conduct Tribunal against judge president Selby Mbenenge who faces sexual harassment charges. Nkqayi, who first worked as a stenographer in Bisho before being transferred to work as Mbenenge's secretary from 2020, is the first witness called by JP Mbenenge’s legal team. During cross examination on Wednesday, Nkqayi spoke of a hugging incident, where sexual harassment complainant Andiswa Mengo is alleged to have seen JP Mbenenge hugging a court manager in his chambers on 28 May 2021, saying that it “could be something that is not true”. According to Nkqayi’s testimony, when questioned by advocate Muzi Sikhakhane, she affirmed that it could have happened that Mengo witnessed the hugging incident when she “popped her head in…

THE Philippi Business Forum has distanced itself from the City’s claims that it was responsible for derailing the MyCiTi construction project along Govan Mbeki Road in Philippi through extortion. The City recently confirmed having secured an interim interdict against alleged extortionists after officials and the contractor’s staff received death threats and were verbally intimidated. The Philippi Business Forum and Crossroads Business Forum were cited as respondents in the application. The City said both failed to present their answering affidavits to the Western Cape High Court concerning why the order should not be made permanent. “Self-proclaimed ‘activists’ within the Philippi Business Forum, Crossroads Business Forum and other affiliated entities had engaged in intimidation, threats, and blatant misinformation campaigns in their shameless efforts to dictate how and to whom employment opportunities are…

The man accused of killing eight people in Gugulethu stated to the Athlone Magistrate’s Court that he surrendered to the police after seeing his image circulating on social media. Lungile Anthony Madolo, also known as “Fire”, made his first appearance in court yesterday in connection with the mass shooting in the Kanana informal settlement on June 28. According to the charge sheet, Madolo is accused of murdering Vuyolwethu Makongo, Siyanda Thongana, Afezile Thongana, Hlomla Thongana, Somile Vithela, Luyolo Zoneleni, Loyiso Jezile, and Phumlani Zoya. Police released Madolo’s image alongside that of Loyiso Matinisi, stating that they could assist with crucial information about the killings. During proceedings, the State prosecutor informed Magistrate Keith Le Keur that there were media applications to take photographs and videos of the accused, but said he…

The African Development Bank (AfDB) has drastically cut South Africa’s gross domestic product (GDP) forecast for 2025 below 1%, saying that the economy continued to be weighed down by a range of structural constraints and could take a hit from Trump's trade war. In its Country Focus Report for South Africa published on Wednesday, the AfDB lowered its forecast for Africa’s most-industrialised economy to a meager 0.8% this year from a previous estimate of 1.6%. This forecast by the AfDB is more pessimistic than the National Treasury’s growth forecast of 1.4% for the year, which was revised down from a prior 1.9% on the back of geopolitical tensions including Trump’s trade levies. It is also less than the South African Reserve Bank’s latest projection of 1.2% this year amid declining…

Farming associations have welcomed the issuing of the first permit to integrated poultry producer Astral Foods for the vaccination of poultry against avian flu. This comes after global outbreaks of Avian flu in America and Brazil. The Minister of Agriculture, John Steenhuisen, on Tuesday announced that South Africa will embark on its first-ever vaccination campaign for poultry in the coming days as a proactive measure to minimise the risk of highly pathogenic avian influenza (HPAI) outbreaks. Francois Rossouw, the CEO of the Southern African Agri Initiative (Saai), said that granting Astral a permit to vaccinate broiler breeding stock against HPAI was a crucial step forward for the poultry industry. “From both a veterinary and agricultural perspective, this move strengthens our ability to prevent outbreaks, protect food security, and stabilise the…

South Africans remain resilient and determined, despite their continued efforts to deal with the challenges of youth unemployment, crime, and poverty. Recent reports from Statistics South Africa show that the youth unemployment rate is 46.1% for the 15-34 age group, 62.4% for the 15-24 age group and 40,4% for the 25-34 age group; these statistics indicate a crisis that requires deliberate intervention. The Department of Basic Education’s (DBE) ongoing integration of entrepreneurship education into schools, driven by its E³ (Employability, Entrepreneurship, and Education) initiative, is both timely and urgent. Recently making headlines through its new partnership with the European Union, the DBE has entered a critical phase of implementation that goes beyond theory. The focus is now on embedding practical, challenge-based entrepreneurial learning into the national curriculum (CAPS), starting from…

Netflix investors face a dilemma: Continue to bet on a stock that has delivered best-in-class returns over the past year or reconsider shares that increasingly look like they’re priced for perfection. The streaming giant’s stock price has nearly doubled over the last 12 months amid growth from advertising sales, subscription price increases and limited exposure to tariffs. While that makes it one of the best performing S&P 500 members over that span, it’s also boosted its valuation to 45 times expected earnings for the next year. In comparison, Nvidia Corp. is priced at 32 times while the Nasdaq 100 is at 27 times. Such a premium valuation, Netflix’s highest since 2021 - when its growth was being supercharged by the pandemic - is making even bullish investors wary of a…

The MK Party has been rocked by internal fighting which sowed divisions among party members. Sources inside the party said there is a major internal fight. This comes after a group of MK members of Parliament wrote to party president Jacob Zuma, calling for the removal of Colleen Makhubele, the party’s chief whip in Parliament. Makhubele has been accused of autocracy and of making decisions without consulting the MK parliamentary caucus. The developments come as a leaked letter allegedly written by the party's parliament leader, John Hlophe, reveals his dissatisfaction with spokesperson Nhlamulo Ndhlela’s disruptive conduct, which led to his removal from the whippery team, while Duduzile Zuma-Sambudla was reprimanded. Ndhlela was also accused of ignoring the party’s decision to remove him and insulting Makhubele, claiming she required “political education”…

HUMAN Settlements Minister Thembi Simelane has described the DA’s personal attack on her as being tried in public without being charged. Simelane said she was not amazed by what was happening to her because a person stands in front of a judge when charged with an offence. “You are trying me in public because you think this is the only way to degrade the work I am doing,” she said. Simelane responded to the DA's attacks during the budget vote for her department yesterday. The DA, which had its former deputy minister, Andrew Whitfield, dismissed for taking a trip to the US without authorisation from President Cyril Ramaphosa, has vowed not to vote in support of the budgets of departments led by compromised ministers and deputy ministers. On Tuesday, the…

Businesses in the Lentegeur area are being warned to stay alert as scammers posing as City health officials attempt to extort money for fraudulent 'health certificates'. According to the City, these imposters have been visiting shops, demanding payment for so-called health certificates, and even threatening violence when business owners question their legitimacy. The City’s Health Department has confirmed that there is no charge for the processing or issuing of a Certificate of Acceptability (COA). “In order to avoid being conned, business owners need to be aware that a COA that was issued since the updated regulations were published in 2018 remain valid unless the premises has a change in management, is sold, physical changes are made to the premises and/or to the scope of operations,” said the City. COAs are…

THE Zeitz Museum of Contemporary Art Africa (Zeitz MOCAA) presents a new exhibition that engages the public life of Albie Sachs to narrate the intertwined artistic and political histories of two nations: Mozambique and South Africa. Spring Is Rebellious: The Art & Life of Albie Sachs, recognises that revolution unfolds along a continuum, and it honours the many struggles for freedom that came before Sachs, and those still to come. The exhibition, curated by Zeitz MOCAA Assistant Curator Dr Phokeng Setai, opens on July 24 on Level 2 Elevator Side of the museum and runs until August 23 Albie Sachs is a renowned South African activist and writer appointed by Nelson Mandela after the country’s first democratic elections. As a young advocate, he defended those charged under apartheid laws before…