Índice para 2025-07-21 em Cape Times

FlySafair is poised for significant flight disruptions in the next two weeks following a decision to lock out around 200 pilots for seven days on the back of industrial action starting on Monday. This drastic move comes on the heels of an overwhelming 90% of the airline's pilots voting in favour of a strike over a wage dispute, igniting a standoff that could see the aviation landscape of South Africa affected for up to two weeks. The turmoil began when Solidarity, the union representing FlySafair's pilots, issued a notice of a one-day strike intended to bring the airline back to the negotiation table. However, the situation escalated when FlySafair responded with its own announcement of a seven-day lockout, which could extend for an additional week if the standoff remains unresolved.…

The National Treasury has fired back that the South African National Defence Force (SANDF), saying that it has allocated an additional R10 billion to its R57.2bn budget in the 2025/26 financial year. This comes after Navy Admiral Monde Lobese launched a scathing attack against the Treasury last week, accusing it of sabotaging the operational capacity of the SANDF through inadequate budget allocations. Lobese's appearance before the Joint Standing on Defence on Friday was initially intended to address ongoing disputes between the SANDF and Amscor related to constrained procurement processes. However, it quickly evolved into a broader critique of the Treasury's budgeting practices, which he claims have long stifled the SANDF's ability to fulfil its mandate. "National Treasury can't be allowed to be a super-department or a government on its own…

In a world where development finance is undergoing a profound shift, Africa’s financial institutions are quietly but powerfully redrawing the playbook. Moving beyond traditional models, African Development Finance Institutions (DFIs) are stepping forward as co-architects of an investment-led future. Their contributions are reshaping not only the continent but the very model of global partnership. The Alliance of African Multilateral Financial Institutions (AAMFI) — created last year by DFIs investing a combined $70 billion (R1.3 trillion) — is helping drive this transformation through sustainable economic growth and financial self-reliance. From cross-border energy platforms to strategic transport corridors, these institutions are pioneering new growth models and credit enhancement initiatives grounded in local capital, institutional strength and global collaboration. Across Africa, now, DFIs are catalysing economic opportunity through partnerships built on co-investment, local…

General Nhlanhla Mkhwanazi’s report card of the 6th of July to the nation was not a statistical release of crime but one which discusses what the drivers of crime and how that plunges South Africa into what would be a failed state. This came 12 days before a globally acclaimed date on the global calendar which is Nelson Mandela Day – a euphoria in which South Africa could legitimately bask, but for reasons of neglect to memorialize we are unable to even if momentarily retire in this memorable vista. Eleven years ago, I was privileged yet again to count the South African population. But this privilege was met with protestations by some communities in the country. Amongst the three that I had to spend time on was one by the…

BHP delivered record iron ore and copper production, demonstrating resilience of the business amid global volatility and uncertainty, CEO Mike Henry said on Friday. BHP’s WA iron ore operations set multiple records, including for full-year production. South Flank exceeded nameplate capacity production in its first year of operation after being delivered on time and on budget in the 2024 financial year, he said in an operational update for the year to June 30, 2025. “The efficiency of our infrastructure hubs continues to strengthen performance, with rail, port, and technology investments delivering tangible production outcomes. Our steelmaking coal business increased production by 5%, with improved truck productivity offsetting heavy wet weather and geotechnical challenges at Broadmeadow,” said Henry. BHP produced more than 2 million tons of copper across the group—its highest…

Trade union Solidarity has called on FlySafair to return to the negotiating table ahead of the pilot lockout today. FlySafair’s flights could be disrupted for two weeks as the company will lock out its pilots. This comes after almost 90% of the pilots voted in favour of a strike. Solidarity gave FlySafair notice of a one-day strike, but FlySafair responded with a notice stating that it would lock out the pilots for seven days, which could last for an additional seven days. "This forced Solidarity to extend its strike notice to 14 days as well. In the meantime, the Commission for Conciliation, Mediation and Arbitration (CCMA) offered to mediate again. “Solidarity has agreed to this, but FlySafair is still refusing,” said union spokesperson Helgard Cronjé. “According to Solidarity, FlySafair’s lockout…

FOR someone who has only played three T20 Internationals, Rubin Hermann is showing an impressive ability to assess both the conditions and match situation. It probably stems from the fact that Hermann may have limited international experience but has close to a decade of playing at every level domestically. This is certainly evident in the way Hermann manipulated the field initially before exploding during his 36-ball 63 (3x4, 5x6) that eased the Proteas to their 145-run target with seven wickets and 16 balls to spare against hosts Zimbabwe on Sunday. The only blot on Hermann’s copybook was that he was not out in the middle when the winning runs were struck at the Harare Sports Club. “I think one thing we identified is that the new ball is quite tough…

It was a dream return home for South Africa’s world champion Nkosi Ndebele. On Saturday night, at the Grand Arena in Goodwood, Cape Town, the former BRAVE CF Bantamweight champion competed in Mzansi for the first time in seven years – and delivered the ultimate homecoming performance. Ndebele featured on the historic PFL Africa card at GrandWest Casino and Entertainment World, where passionate South African MMA fans were treated to a world-class night of action. Fighting in the inaugural PFL Africa tournament, Ndebele (9-3) wasted no time advancing to the semi-finals of the bantamweight knockout competition. He stopped Egyptian opponent Mahmoud Atef (5-3) via TKO (strikes) with just 10 seconds remaining in the opening round. “I’m feeling great – what an experience to fight in front of my home crowd,…

The Third Meeting of the G20 Finance Ministers and Central Bank Governors (FMCBG) has committed to international policy cooperation, aimed at further promoting global prosperity. The gathering, which brought together finance leaders from the world's 20 largest economies, tackled critical shared challenges that have persisted in the wake of economic disruptions exacerbated by the COVID-19 pandemic, rising geopolitical tensions, and sustainability concerns. During the discussions, which spanned two days, participants acknowledged the need for collaborative solutions that not only address immediate economic challenges but also lay the groundwork for long-term resilience and growth. The finance ministers and central bank governors recognised that only through coordinated efforts can nations effectively manage global economic uncertainties and ensure inclusive development. “FMCBG recognised the challenges posed by conflicts, geopolitical and trade tensions, disruptions to…

On August 1, 2025, South African exporters will wake up to a 30% tariff on all goods entering the United States, a decision announced by the administration of President Donald Trump. This is not a sector-specific sanction, nor the outcome of any formal trade dispute. It is a sweeping penalty imposed on all products, citing trade imbalances and regulatory barriers imposed by South Africa. But this is not the end of trade. It is the beginning of South Africa’s trade adolescence, the moment we decide to grow up or continue being disciplined by our “partners.” The justification provided by the US administration rests on the claim that South Africa runs a trade surplus with the United States. In truth, South Africa exported around R170 billion worth of goods to…

The past week there were international economic indicators and political news influencing the prospects of the South African economy. China is a key market for South African exports, and some good news is that the Chinese posted better-than-expected GDP growth for the second quarter. It grew by 2% year-on-year, which is slower than the first quarter’s 5.4%, but faster than expected. US tariffs are still in the news, but South Africa’s position remained uncertain with negotiations about the 30% tariff set for August 1 said to be ongoing. More broadly speaking, macroeconomic news from the US also influences us through the rand-dollar exchange rate and our repo rate decisions. Analysts are waiting to see some of the impact of the increased tariffs on US inflation, economic growth and employment, and…

The G20 finance ministers stressed Friday that central banks must remain independent, after months of escalating attacks by US President Donald Trump on Federal Reserve boss Jerome Powell. It was the first communique under South Africa's G20 presidency and marked a rare consensus for a bloc jolted by the drastic trade policies of its richest member, the United States. "Central banks are strongly committed to ensuring price stability... and will continue to adjust their policies in a data-dependent manner," the group, whose members account for more than 80% of the world's economic output, said after a finance ministers' meeting in South Africa. "Central bank independence is crucial to achieving this goal," it said in the statement, also signed by the United States. Trump has repeatedly lashed out at Powell for…

Valterra Platinum, formerly Anglo American Platinum, directors said lower platinum group metal (PGM) production and demerger costs were the reasons for their expectation that headline earnings a share (HEPS) will decrease between 76% and 88% for the six months to June 30. Despite the sharply lower earnings forecast, Valterra’s share price surged 7.24% to R898.20 on Friday afternoon, bringing its gain in 12 months to over 47%. The increase was in line with a sharp 4.28% increase in the JSE Precious Metals & Mining Index at the same time. The share’s gain might also be reflecting the basket price increase of over 30% for PGMs, year-to-date. The group, which completed its demerger from Anglo American only this month, said in its first independent trading statement that HEPS would likely be…

ANC secretary-general Fikile Mbalula yesterday defended the party against criticism that it has selectively applied its step-aside rule when it comes to the allegations raised against former Minister Senzo Mchunu, who was placed on a leave of absence by President Cyril Ramaphosa. Mbalula addressed the media during a short break at the ANC’s National Working Committee (NWC) meeting with the Provincial Executive Committee at the Cape Sun Hotel yesterday. The meeting forms part of the ANC’s ongoing efforts to strengthen its organisational capacity and engage directly with structures of the movement across regions and districts. Mchunu, who was also present at the ANC’s NWC meeting, faces allegations of corruption and malfeasance following bombshell revelations from KwaZulu-Natal police commissioner Nhlanhla Mkhwanazi. However he was not asked to step aside. The…

A EUROPEAN football dream has turned into a nightmare for a group of Cape Town parents, who have been left in a state of severe stress after their children were left stranded in Spain, following a soccer tour with the BT Football academy. The children participated in the Donosti Cup 2025. Among them is 13-year-old from Kraaifontain. He had been with the club for the past two years. His grandmother said: “Last year they were chosen on merit to join the tour. They told us what it was going to cost and we were given enough time to fundraise. Each child had to pay R50 000 and they started paying in September last year. That was supposed to cover the flights, food, accommodation and transport. To Page 2…

Alleged underworld figure Nafiz Modack has scored a small victory in his tax fraud case after the judge agreed to step aside. Judge Mark Sher has recused himself from the R46 million SARS fraud trial just weeks before it was due to start. As a result, Modack and his co-accused will have to wait even longer to have their day in court. Modack’s lawyer, Advocate Bash Sibda told the court last month his client wouldn’t get a fair trial if Sher stayed on the case after he presided over Modack’s bail appeal in March 2023, in the case where he stands accused of murdering cop Lieutenant-Colonel Charl Kinnear. Modack is facing serious charges alongside seven co-accused, including mother Ruwaida and brother Yaseen Modack for allegedly ripping off the taxman. A…

Close to 200 South Africans are currently stranded in Thailand, having fallen victim to a human trafficking scheme. They were lured by the promise of well-paying jobs, advertised through social media and word-of-mouth. This criminal operation is allegedly orchestrated by a Chinese mafia network. The job scams target young South Africans who are fluent in English, computer literate, and have marketing or IT qualifications. They are promised good salaries, free accommodation, comprehensive travel expenses, and other lucrative benefits. When victims/ targets accept the offer, they are given a one-way ticket to Thailand before being trafficked to Myanmar and forced to work in illegal online scamming compounds operated by Chinese mafia networks. Emma van der Walt, founder and chief executive of Brave to Love SA, a counter-human trafficking NGO, said that…

Junior Springbok captain Riley Norton said team unity and passionate defence combined to produce “the greatest day of my life” as New Zealand were beaten 23-15 in the final of the World Rugby Under-20 Championship in Italy on Saturday night. It was the Baby Boks’ first victory in the tournament since 2012, when they also beat New Zealand – that time at Newlands. “I’m quite emotional, but I’m just so proud,” Norton said. “The amount of work that we put in after not a great U20 Rugby Championship … “Our backs were against the wall and we just came out and gave it everything. The group is unbelievable – the management, the coaches – we all pulled into a common idea. It wasn’t easy at times, but yes, this is…

Tim Wellens of UAE Team Emirates conquered the heat and hills of Stage 15 with a 45km solo charge to victory in Carcassonne on Sunday, bringing home a fifth win for the dominant team at this year’s Tour de France. The Belgian, who had been part of an early breakaway, launched a decisive attack that caught his fellow escapees napping. From there, he built an unassailable lead on the approach to the walled citadel and had time to high-five dozens of Belgian fans on the run-in – the perfect prelude to Belgium’s national holiday. “It makes me happier than winning a stage myself,” said overall race leader Tadej Pogacar, who pointed to his yellow jersey and added, “He helps me keep this thing every day.” The victory completed a personal…

Trump’s statement triggers panic for countries trading with Russia, including South Africa The Department of Trade, Industry and Competition (dtic) has sought to allay concerns regarding South Africa's trading relationship with Russia in the wake of US President Donald Trump’s recent tariff ultimatum. Following Trump’s statement that US imports from Russia could face a staggering 100% tariff if peace talks regarding the ongoing Russia-Ukraine conflict do not bear fruit within 50 days, worries have mounted over what this means for countries engaging in commerce with Russia, including South Africa. Russia produces 10% of the world’s crude, and it has been able to sell oil through discounted sales to China, India, Brazil and Turkey. According to the International Energy Agency Russia earned $192 billion from oil sales last year despite western…

The KwaZulu-Natal Agricultural Union (Kwanalu) has intensified its calls for KwaZulu-Natal to be declared a disaster area, with concerns growing over the escalating Foot and Mouth Disease (FMD) outbreak that threatens the province’s livestock sector. As the outbreak tightens its grip, affecting both rural families reliant on livestock for survival and established agribusinesses, Kwanalu believes urgent intervention is critical. In a statement released last week, Kwanalu underscored the dire situation faced by farmers across the province. Sandy La Marque, CEO of Kwanalu, said they were witnessing intense pressure across the board. La Marque said that in many rural communities, the sale of a single animal was a family’s only financial lifeline, but with movement restrictions in place, many find themselves caught between survival and legality. “Some of the country’s most…

In a world beset by geopolitical tensions, trade disputes, and economic uncertainty, equity markets have continued to surprise on the upside. For South African investors, the post - "Liberation Day" rally has revealed a hidden strength in local equities that defies the broader narrative of emerging market vulnerability. While global headlines have been dominated by tariff threats, war-driven commodity fluctuations, and the resilience of US markets, South Africa's own bourse has quietly delivered exceptional returns. Since the 2nd of April, now dubbed “Liberation Day”, the local and global equity markets have handled the turmoil like a champ. Despite, ongoing wars, oil price concerns and the renewed threat of steep tariffs from President Trump. The US equity market has continued to remain resilient and even rally since the last round of…

South African REIT, Hyprop Investments, on Friday formally entered the bidding for JSE-listed Central and Eastern Europe (CEE) retail and mixed-use property company MAS, by releasing the terms of a share and cash offer. Hyprop said its offer was better for MAS’ shareholders than the last offer by MAS’ major shareholder and joint venture partner Prime Kapital Investments (PKI) because voluntary bid participants in the Hyprop offer could expect to easily convert their share consideration into cash should they wish, after the deal is done. “This is in contrast to the unknown liquidity of the instruments being proposed for an offer to MAS shareholders in terms of the intended bid by PKI Limited,” Hyprop’s directors said. Hyprop and the PKI bids add to the MAS board's current complex workload, as…

In today’s fast-paced world, staying active can feel like a challenge, especially when pricey gym memberships are out of reach. But all is not lost for fitness enthusiasts and newcomers alike. Across SA, communities are alive with free, accessible ways to work up a sweat while soaking in the outdoors. From scenic parks to local sports facilities, here’s how simply stepping outside might be the best move for your health and well-being. Embrace the outdoors Mzansi’s natural beauty isn’t just there to be admired – it’s there to be explored – parks, botanical gardens, beachfront promenades and rugged hiking trails all double as outdoor gyms. A gentle walk through a leafy park can quickly become a power walk that torches calories and lifts your mood. Many public gardens have walking…

Power utility Eskom must pay French nuclear power company Framatome nearly R1 billion in a contractual dispute over the replacement of steam generators at the Koeberg Nuclear Power Station. Eskom hauled the company formerly known as Areva to the Western Cape High Court to challenge adjudicator Peter Ramsden’s decisions on the merits and the quantum delivered in December 2022 and March 2023, respectively. The entity’s contention was that both decisions were beyond his jurisdiction and failed to apply the rules of natural justice. Eskom complained that Ramsden failed to take into account its submissions, issue a reasoned decision and decide the issues that he was required to decide. In addition, Eskom stated that the adjudicator failed to receive and take into account its response to Framatome’s amended claim as well…

THE 115 bricks of cocaine worth an estimated street value of R18 million allegedly found in possession of a suspended Standard Bank manager were linked to multiple international cartels. This emerged when Lieutenant-Colonel Christiaan van Renen, the investigating officer, testified in the ongoing bail application by Raed Cupido. The 40-year-old was arrested on 10 June over the 115 bricks of cocaine worth an estimated street value of R18m, an AK 103 Rifle, Uzi Pro Rifle, five semi-automatic firearms and 130 rounds of ammunition inside a storage unit in Roeland Street. His alleged accomplice, Christopher Carlese, 38, was arrested just over a month later, on 13 July. He claims he wasn’t at the scene that day but chilling at his home in Kensington. During their recent appearance in the…

Scottie Scheffler romped to a magnificent four-shot victory to seal his first British Open title at Royal Portrush on Sunday, notching his fourth Major success. The world No 1 eased to a three-under-par final round of 68, finishing on 17-under for the tournament after shooting in the 60s on all four days. It was the 10th successive time Scheffler has converted a 54-hole lead into a win. His dominance over the past two years has been such that, once he birdied the first hole, it seemed the chasing pack had already lost any belief of mounting a challenge. Scheffler, who took a lead he would never relinquish with a seven-under 64 on Friday, extended his run of consecutive top-10 finishes to 11 events. That streak now includes four wins, featuring…