Table of contents for 2025-01-29 in Cape Times

Tiger Brands announces plans to sell 24.38% stake in Empresas Carozzi for $240 million (about R4.4bn) Tiger Brands’ R4.4 billion sale of its investment in Chile-based Empresas Carozzi might result in its shareholders benefiting from share buybacks or special dividends once the group’s investment requirements are met. On Tuesday, Tiger Brands announced plans to sell its 24.38% stake in Empresas Carozzi for $240 million (about R4.4bn) to the parent of the Chile-based company, the Santiago Stock Exchange listed Carozzi S.A. The South African manufacturer and marketer of fast-moving consumer goods has well-known brands in the country, including Koo, Fattis and Monis, Jungle Oats, Enterprise and Oros. The group said on Tuesday that the sale was part of its decision made only last month, to revise strategy and focus on operations…

Makgosi Mabaso has been appointed as Openserve’s Chief Commercial Officer (CCO), effective 1 January 2025, the company announced on Tuesday. “This marks an exciting new chapter for the organisation that is leading the way in wholesale connectivity solutions in South Africa,” Openserve said in a statement. Makgosi is no stranger to Openserve or this position. Between 2018 and 2019, she successfully held the CCO role before moving to the Telkom Group CEO’s office, where she provided vital strategic support. Most recently, she served as Managing Executive for Telkom Business and Home Solutions within the Consumer Business Unit, where she played a critical role in delivering customer-centric solutions and driving operational excellence. “I am looking forward to driving our One Telkom strategy by leveraging synergies within the Group,” she said.…

The possible closure of ArcelorMittal South Africa’s long steel plant in Newcastle is a stark reminder of the challenges facing the local and global steel industries amidst weak international and domestic demand. While any job losses are painful, what has been erroneously suggested in much of the commentary is that if ArcelorMittal’s long steel factory closes its doors, the South African long steel industry would disappear. This ignores the so-called “mini-mills”, which employ up to 5,000 people and already produce around two thirds of the long steel used in South Africa. It is not true to paint the possible ArcelorMittal closure as an end to South Africa’s steel production and industrialisation. The name “mini mill” can be misleading; these include large-scale operations that contribute substantially to the local and…

South Africa’s utility-scale electricity mix primarily relies on coal (83% of electrical energy supplied in 2023/24), with rapidly increasing integration of renewable sources like wind, solar, and hydro responsible for about 9%. Nuclear energy, currently provided by Koeberg Nuclear Power Station, contributed approximately 4%. South Africa possesses significant uranium resources, and the hard question is whether nuclear projects could leverage these resources to create long-term economic benefits for the country. As part of the energy strategy, the country is assessing the feasibility of expanding the current nuclear capacity. This assessment should be aligned with the draft Integrated Resource Plan (IRP) 2023, South Africa’s 2050 decarbonisation goals and the need for a developing economy. South Africa’s draft Integrated Resource Plan (IRP) 2023 proposes 14 500MW of nuclear energy capacity by 2050.…

More Zimbabwean companies and retailers are closing shop, citing economic and currency complexities that are inhibiting profitability and viability. Retail shelves are quickly running out of stock as manufacturers and producers stop supplies to supermarkets. The struggles that Zimbabwean retailers are facing have coincided with mounting company closures, all blamed on the obtaining economic environment. The Confederation of Zimbabwe Retailers said this week that “the recent closure of several (retail and wholesale) outlets” was worrying. While OK Zimbabwe, which competes against Pick n Pay branded outlets in that country, has been left with empty shop shelves, other retail operators such as Choppies and Spar have been shutting down stores. Wholesalers such as N Richards Group have also had to close some outlets while Mahommed Mussa Wholesalers has reduced shop space…

KwaZulu-Natal Premier Thami Ntuli said that Ithala SOC stands as a testimony to the visionary leadership of the IFP’s Founding President, Prince Mangosuthu Buthelezi. Ntuli was speaking at a briefing yesterday, following the recent developments surrounding the province’s development finance institution Ithala Bank. The announcement by the Prudential Authority (PA) on the alleged insolvency and non-compliance by Ithala has caused widespread concern and panic. Ntuli described Ithala as an institution that champions economic justice and inclusion, providing vital banking services to rural and under-served areas for decades. Ntuli said that Ithala has been at the forefront of empowering small businesses, fostering savings through stokvels, and supporting Small, Medium, and Micro Enterprises (SMMEs) that have been excluded from mainstream financial assistance. Ntuli questioned the timing and motives behind the recent actions…

Public interest in shipping continues. My talk on Union-Castle at the UCT Summer School last week attracted a pleasing attendance, many indicating that they had enjoyed coastal trips aboard the weekly mailship. Others had ventured to Britain aboard those ships on the holiday of a lifetime. Even Tourist Class provided delicious food, entertainment and 14 days of leisurely travel. Hundreds of thousands immigrated to this country by sea, especially during the post-war immigration boom while others arrived in later years, also by sea, before air travel took hold. I recall that, during my kortbroek days at Pinelands Blue School in the 1950s,dozens of new pupils – including recent arrivals from Britain in the mailships – swelled the size of the classes. Such was the pressure for space in some classes…

Ingredients: For the Roasted Tomatoes: 2 x 250g punnets exotic tomatoes 1 garlic head; halved 4 sprigs thyme Olive oil, for drizzling Salt and pepper, to taste For the Butter Bean Dip: 410g tin butter beans; drained 1 tbsp. (15ml) lemon juice 3 tbsp. (45ml) olive oil Salt and pepper to taste To Serve: 4 slices sourdough bread; toasted, Fresh basil, 40g pine nuts; toasted, Spring onions (optional) Method: 1. Preheat the oven to 180°C. 2. Place tomatoes and halved head of garlic on a roasting tray and drizzle with a little olive oil. 3. Add thyme and season with salt and pepper. Roast together for 20–25 minutes or until tomatoes are golden and blistered, and garlic is soft. Remove and set aside to cool. 4. To make the butter…

There was still no official update on the injury statuses of Bulls co-captains Ruan Nortjé and Elrigh Louw on Tuesday following their blows to the knee – but the Pretoria side are likely to face the Stormers next week without them. Nortjé and Louw went off in the early stages of each half, respectively, in last weekend’s 35-22 United Rugby Championship win over the Lions at Ellis Park. Nortjé was tackled by Lions hooker PJ Botha and still managed to his offload away to fullback Devon Williams in the fourth minute, and stayed down after his left leg buckled under him. Louw was in a similar scenario in the 42nd minute in a tackle by Lions No 7 Ruan Venter, with the Bulls flank’s left leg also getting stuck under…

Proteas Women’s team all-rounder Annerie Dercksen believes she is “living a dream” after being named ICC Emerging Women’s Cricketer of the Year. The 23-year-old debuted in Test and ODIs last year after first tasting international action in the T20Is against the West Indies in 2023. She has fast developed into a regular across formats for the Proteas, featuring in 17 T20Is, four ODIs and two Test matches in 2024 - taking 11 wickets and amassing 291 runs. Dercksen also played an important role in the Proteas' journey to a second consecutive ICC Women’s T20 World Cup final in the United Arab Emirates last year - providing crucial middle-order runs while contributing with the ball. “It genuinely feels like I’m living a dream. “I still have the same excitement as when…

The Airports Company of South Africa (ACSA) has called on the Department of Mineral Resources and Energy (DMRE) to develop and implement a policy regarding strategic jet fuel reserves, especially given reduced local oil refinery capacity. ACSA’s group executive of airport operations management, Terence Delomoney, told media at a briefing on Tuesday that, without such a solution, “then we run into trouble”. Delomoney’s comments follow the shutdown of the National Petroleum Refiners of South Africa (Natref), which caught fire on the January 4 and is only expected to be operational again on February 20. Natref supplies some 72% of OR Tambo’s jet fuel requirements. In the interim, ACSA has secured 121.1 million litres of jet fuel for use at OR Tambo International Airport (ORTIA). The airport typically uses 3.6 million…

Stats SA announced on Tuesday that it has shaken up the basket of goods and services used to measure consumer inflation. The products in the basket are updated periodically to better reflect shifts and trends in consumer spending. Product weights are also adjusted. The facelift includes adding 71 new products, removing 53 products and reorganising 29 products (through merging, splitting or reclassification). In total, there are now 391 products in the basket, down from 396. New food products that were added to the basket include basmati rice, meat bones, meat patties, chicken nuggets and ready-made meals. Items that were removed include ready-mix flour, flavoured milk, frozen potato chips and ground coffee/coffee beans. The new basket expands the coverage of education-related items. In the clothing category, Stats SA said…

While much of our attention at the African Energy Chamber (AEC) concentrates on efforts to industrialize the sub-Saharan regions, as covered in our recently released 2025 Outlook Report, The State of African Energy, the more developed North African nations have seen recent progress in the renewables field, in green hydrogen specifically, that deserves our recognition. Many are likely unfamiliar with the technology behind the production of this fuel source, and the subject requires at least a brief explanation. Hydrogen has many uses across varied industries, from petroleum refining and food processing to fertilizer and steel production. While the aerospace industry has used hydrogen as a rocket fuel since the dawn of the space age, there is plenty of room for the growth of hydrogen-powered cars, or fuel cell electric vehicles…

The Entertainment and Media (E&M) sector across South Africa, Nigeria, and Kenya is proving to be resilient and adaptive in a time when global economic uncertainties are putting pressure on numerous markets. This positive trend is outlined in PwC’s newly launched Africa Entertainment and Media Outlook 2024–2028 report, which reveals that these leading African markets were flourishing with revenue growth that outpaces the global average projected at a compound annual growth rate (CAGR) of 3.9% through 2028. The report delves into the factors propelling this growth, alongside potential obstacles, while identifying critical trends that will shape the industry over the next five years. According to the report, South Africa boasts the most developed E&M market on the continent, albeit with a slower growth forecast of 4.2% CAGR until 2028. Most…

The Bureau for Food and Agricultural Policy (BFAP) and the Agricultural Business Chamber of South Africa (Agbiz) have expressed cautious optimism for the agriculture sector, predicting a recovery and 3% growth in 2025. This announcement comes on the heels of a challenging year, where the sector is expected to endure an overall contraction of approximately 5% in 2024, attributed to several domestic and global factors. Speaking at the Nedbank Agricultural webinar on Tuesday, BFAP director Dr Tracy Davids highlighted the significance of the agricultural value chain, stating it contributes over 14% to South Africa’s gross domestic product (GDP). “Multiple international and local factors have influenced performance. This includes macro-economic factors, global financial crises, poor economic performance and spending power constraints in South Africa,” she said. “This also includes domestic…

The motion of no confidence in Bergrivier Mayor Ray van Rooy failed in council yesterday after opposition parties were outvoted by the DA. The ANC, GOOD Party and the Patriotic Alliance wanted DA Mayor Ray van Rooy removed after drugs were allegedly found in his Calendula Street home in Piketberg in December. A letter by Councillor Evert Manuel read that they wanted a vote of no confidence and for an immediate investigation conducted into the mayor. “For gross misconduct and serious allegations of participation in criminal activity...these criminal allegations have brought the name of the municipality into disrepute. “It is believed there is a whistleblower involved in the case. The mayor is involved in criminal activity. (There are) Rumours of involvement in organised crimes and allegations of an illegal firearm…

Bafana Bafana coach Hugo Broos is confident of advancing from Group B of the Africa Cup of Nations 2025 despite the presence of a resurgent Egypt in their pool. The other two teams in the group at the tournament in Morocco are Angola and Zimbabwe. “When I look at our opponents for Afcon, I think that Egypt is the favourite to win the group,” Broos said. “They didn’t make a very good last Afcon and they didn’t perform like everybody expected. “They were very soon out of the tournament. “But I think in the last year, year-and-a-half, they have built again a very good team. “They did very well in the qualifiers, so that will be the team to beat for the first place.” Monday’s draw in Rabat served up…

Barely a year ago, MI Cape Town were no-hope losers drifting from one defeat to the next. It was unexplainable how a team with that much talent could be so hopeless. They failed to reach the play-offs and were left with the SA20 wooden spoon for the successive season. Something, it gradually dawned, had to change. Plenty has. Players now openly speak about the culture shift towards providing locals with opportunities after a previous over-reliance on the overseas superstars. And also how everyone is enjoying each other’s company in the dressing room. This culture shift has led to a dramatic improvement with MICT facing the defending champions Sunrisers Eastern Cape at Newlands on Wednesday evening with virtually one foot in the play-offs and the possibility of finishing in the top…

South Africa is steering clear of significant ramifications from an outbreak of Goss wilt in maize and Gut rot in palm products, threatening the integrity of a continental agricultural produce market valued at more than $13.2 billion (R250bn). This month, neighbouring Botswana and Namibia hastily imposed bans on critical imports following the detection of the aforementioned crop diseases in South African provinces, raising alarms about its implications for local and regional food security. With Namibia’s recent ban coming into effect last Friday, the stakes became apparent as South Africa found itself on the verge of losing substantial export volumes. The affected crops encompass approximately 155 882 tons of white maize and 46 969 tons of yellow maize for the 2024/25 season. Namibia, which has historically been South Africa’s second-largest white…

As South Africa takes the helm of the G20 in 2025, it faces an unprecedented opportunity to champion agricultural reforms that resonate across continents. As the global spotlight turns towards transforming agrifood systems, enhancing food security, tackling climate change, and fostering sustainable development, South Africa can leverage its position to advance its own agricultural interests and elevate Africa’s agricultural aspirations on the global stage. The G20, a forum where the world’s largest economies come together, has long recognised the transformative power of agriculture in achieving economic growth, food security, and sustainability. However, the agricultural sector remains fraught with challenges, from protectionist trade policies and climate-related impacts to inadequate financing for smallholder farmers. For South Africa, a key player in global agriculture, this chairmanship represents a golden opportunity to drive policy…

KPMG South Africa, in partnership with the African Development Bank participated in the Africa Heads of State Energy Summit this past week. Held in Dar Es Salaam, the summit brought together industry leaders, policymakers, and investors to explore strategies for leveraging Africa's vast natural resources in pursuit of sustainable economic growth. Africa stands at the forefront of the global green energy transition, with vast reserves of critical minerals essential for clean energy solutions. Africa is home to approximately 30% of the world's critical minerals required to power the energy transition. This presents a significant opportunity to attract investment, fast-track development, and achieve key Sustainable Development Goals (SDGs). However, challenges such as currency and convertibility risks have traditionally hindered large-scale financing efforts. "The demand for critical minerals will continue to grow…

Shoprite Holdings and Woolworths Holdings, two of South Africa’s biggest retailers, on Tuesday reported solid and similar sales growth during the second half of 2024 amid continuing low levels of consumer disposable incomes. Shoprite Holdings said in an operational update for the six months to December 29 that its merchandise sales increased 9.6% to about R128.6 billion, excluding the furniture business, which is being sold to Pepkor. Meanwhile, Woolworths South Africa saw turnover and concession sales growth of 9.1% for 26 weeks to December 29. Within the food business, turnover and concession sales growth of 11.4% and 7.3% was driven by volume growth from improved availability, ongoing innovation, and an enhanced value proposition. Shoprite's Supermarkets RSA division, contributor of 83.7% of group sales, achieved sales growth of 10.4% versus 14.6%…

Nearly three years since the State Capture Report was released, the ANC has finally taken a step towards addressing the allegations by serving disciplinary notices to four senior officials implicated in the scandal. Former ministers Zizi Kodwa and Malusi Gigaba, along with current Water and Sanitation Minister David Mahlobo, and the Chair of the House Committee in the National Assembly Cedric Frolick, have been summoned to appear before the party’s National Disciplinary Committee (NDC) to answer charges related to their involvement in state capture. According to ANC Secretary-General Fikile Mbalula, the officials are facing charges for failing to appear before the Integrity Commission and for their alleged involvement in state capture. Mahlobo is accused of bribing judges during his tenure as the State Security minister. Gigaba, the former minister of…

the composite leading business cycle indicator has recorded its third consecutive rise, indicating a potential rebound in the upcoming months. Released yesterday by the South African Reserve Bank, the November data showcased a month-on-month increase of 0.6%. Notable among the positive contributors is the rising growth rate in new passenger vehicle sales and a marked improvement in the RMB/BER Business Confidence Index. Registration data displayed a healthy 8.1% increase in new vehicle sales in November 2024, with 48,585 units sold compared to 44,927 in the same month last year. This uptrend was lauded by the Automotive Business Council, signalling the inception of a long-awaited recovery within the vehicle market. The RMB/BER Business Confidence Index also saw a substantial rise to 45 index points in the fourth quarter of 2024, climbing…

I recently bumped into Kaizer Chiefs coach Nasreddine Nabi at the V&A Waterfront in Cape Town. It was on the morning of their clash against Cape Town City later that day, and he seemed surprised that someone had recognised him in the mall. We exchanged some pleasantries, and I wished him well in trying to turn things around at the Amakhosi after a tumultuous start. He looked like he was carrying the world on his shoulders, but vowed to keep pushing to create new memories and end the club’s trophy drought, adding that it would take time as he tries to build a formidable team. He went on his way, along with a few Chiefs staffers who were with him. Unfortunately, for the Glamour Boys, they lost 1-0 to City…

Lehlohonolo Seema did his best to contain his excitement at his side’s impressive display in knocking Cape Town City out of the Nedbank Cup on Monday. Try as he might to downplay the team's dominant performance, the glint in his eye gave the Sekhukhune United coach away – he loved what he saw and deep inside, he was purring like the cat that has just got the milk. Ba Bina Noko were buzzing at the old Peter Mokaba Stadium as Katlego Otladisa and Relebogile Mokhuoane scored second-half goals that put the 2023 finalists into the round of 16. Seema was glad that his team managed to play as well as they did, especially following their 1-0 defeat by Kaizer Chiefs last weekend. “Last week showed that you can lose a…