Table of contents for 2025-02-05 in Cape Times

Anglo American, De Beers and Sasol have signed a groundbreaking joint development agreement that should in time result in the development of up to 400 million litres of locally manufactured biodiesel for use in mining. The three groups signed the agreement at the Investing in African Mining Indaba on Tuesday, which is being held at the International Conference Centre in Cape Town. The plan is to make biodiesel from an invasive species Moringa and the tobacco variety Solaris plant, on land that has been degraded by mining, with the vegetable oil to be processed at Sasol’s Natref refinery in Sasolburg. Sasol business and technology development director Dr Sureshen Pillay said the three groups were operating in an environment where South Africa, and the rest of the world, was transitioning…

Mining is critical to South Africa’s economy. In the first three quarters of 2024 the sector contributed an added value of approximately R448.4 billion (6.8%) to the country's Gross Domestic Product (GDP) underscoring its importance to the economy. That is in nominal terms. Its historic significance as the main cog to SA’s industrialisation trajectory cannot be overstated - the more reason that government has placed this industry at the core of its efforts to transform the local economy. Over the years, the sector has undergone significant changes, moving away from being an isolated sector to becoming integrated into the wider economy, making it more imperative to transform the sector. And try as some might to disagree, it is irrefutable that South Africa’s mining sector has vastly transformed 30 years into…

Africa GreenCo is the only regional buyer and trader of renewable energy in Southern Africa with current operations in South Africa, Namibia, Zambia and Zimbabwe. It will be extending its operations to include Angola, Botswana, the Democratic Republic of the Congo (DRC), Eswatini, Lesotho, Malawi, Mozambique and Tanzania. GreenCo provides customised Power Purchase Agreements (PPAs) for independent power producers and bespoke solutions for corporate off-takers. Their expertise lies in forecasting energy production and in trading, along with their involvement in the Southern African Power Pool (SAPP), ensures a reliable and stable energy supply for clients with over 1 terawatt-hours (TWh) traded. A terawatt-hour is equal to one trillion watts for one hour. "The synergy between renewable energy and mining in Southern Africa has never been more critical. We have the…

South African equity markets bounced back from a three-month losing streak in January with the FTSE/JSE Capped SWIX Index up 2.6% month on month (m/m). Miners had held the local bourse back in the fourth quarter of 2024 at -10% quarter on quarter, but were responsible for most of the January gains, rising 16% m/m, particularly the precious metals miners (gold miners +33% m/m and platinum miners +20% m/m). Luxury conglomerate, Richemont, which was up 31% m/m, was another star performer for the JSE, bolstered by a trading update that showed revenue growing 10% year on year (y/y) in the most recent quarter, well ahead of expectations (+1% y/y). Cellphone companies MTN rose 25% m/m and Vodacom, up 8% m/m, were another bright spot on the local bourse as…

The Department of Health has spoken out about the abuse of its ambulances by staff, who have been using them for personal errands. The department said it had identified those behind the abuse. The incidents arise as the department is facing a shortage of vehicles especially ambulances and patients often wait for hours for ambulances to arrive. Due to budget shortages, the department cannot afford new ambulances and can only replace those that are damaged or irreparable. Briefing members of the Health portfolio committee in the KZN Legislature in Pietermaritzburg on Tuesday, MEC Nomagugu Simelane revealed that last year, she had to deal with two incidents where the ambulances were abused. "Last year we dealt with two consecutive incidents. In one case, I received a call from the Premier Thami…

“I have recurring nightmares about how those boys dipped my head in the dirty toilet bowl.” These were the words of a 14-year-old boy who was bullied by four learners at Leiden High School in Delft. The experience has resulted in the teen dropping out of school. It was the Grade 8 learner’s second day at school when the incident happened inside a cubicle in a boy’s toilet on January 31. The boy’s mother said she was alerted and when she arrived, the teen was standing inside a bin, and crying. She said teachers failed to help him, and she suspects it was because he is black. The 14-year-old explained what happened to him. “I was in IsiXhosa classroom, when I asked my teacher to go to the toilet. I…

THE uncovering of two major dogfighting operations in Ottery and Eerste River are likely the tip of the iceberg, says Cape of Good Hope Society SPCA spokesperson Belinda Abraham. “Two major dogfighting operations have been uncovered just 30km apart - one in Ottery and another in Eerste River. These are only the second and third full-scale rings we’ve found since 2021 when we raided an organised dogfight in progress in Atlantis. “Most reports involve street fighting, but these discoveries suggest a much larger, more organised problem. This is likely just the tip of the iceberg. “We need our communities to be vigilant and look out for single properties with several pitbull-type dogs living on chains, dogs with mangled or cropped ears and scarring predominantly on their face, chest, and…

Both the Bulls and Stormers are scheduled to only name their teams on Friday for Saturday’s United Rugby Championship clash at the Cape Town Stadium (kick-off 2pm). Let’s look at five big selection calls that director of rugby Jake White will have to make for the Bulls. Willie Or Won’t He? Should the rest of Willie le Roux’s career be played out at flyhalf? Considering his second-half cameo for the Bulls against the Lions recently, that may well be the case. Long established as a fullback, Le Roux actually started his provincial career as a flyhalf for Boland, quickly earning the nickname of ‘Quade Cooper’ – after the Reds and Wallaby playmaker of the time. He wasn’t given a chance at the Stormers, and had to reinvent himself as a…

In the short history of the SA20, the Sunrisers Eastern Cape have shown they know when to win. It may sound simplistic, but there’s an art to peaking at the right time and being able to handle the unique pressure of knockout cricket. Well, they now again find themselves at a point where defeat on Wednesday evening to Joburg Super Kings at Centurion (5.30pm start) will cause their elimination, with all wriggle room vanquished. It is imperative that they learn quickly from their inconsistencies that have seen them either blow the opposition away or be flattened themselves. It is slightly perturbing that even at this late stage of the competition that the Sunrisers’ top-order continue to misfire. Englishman Zak Crawley was jettisoned after a string of failures, but his…

Mounting pressure to accommodate 1.2 million learners by 2030, report calls for transformation of education system Education reform is key in South Africa to grow its economy, according to the World Bank’s 15th South Africa Economic Update released on Tuesday. “South Africa is currently facing a severe learning crisis, as its education outcomes are too low compared to the country’s level of development and the resources invested in this sector by the state,” it said. The organisation has recommended that transforming the basic education sector by improving the quality of learning from an early age can drive inclusive growth in South Africa and reshape the nation’s economic future. It said enhancing the quality of learning from the earliest stages can be a catalyst for inclusive growth. The report underscores that…

China’s 15% tariff on coal shipped from the US will likely leave the global market for the energy commodity precarious in terms of supply, pricing and marketing, but could also provide an additional opportunity for smaller suppliers to the Asian giant such as South Africa. US President Donald Trump imposed a broad-based 10% tariff on Chinese imports last weekend, with the new measures coming into effect this week. This has prompted China to impose a 15% tariff on coal and Liquefied Petroleum Gas (LPG) imported from the United states in addition to a 10% tariff on oil imports from the world’s biggest economy. Although South Africa is a small exporter of coal to China, it has become a big player on the international coal market. The Richards Bay Coal Terminal…

Power – or the lack thereof – has been a hot-button issue in South Africa for the past few years. Every South African knows the story: ageing infrastructure meant that the grid took strain, loadshedding kicked in, business operations ground to a halt, and profitability took a nosedive…all seemingly faster than the speed of light. Cut to 2025 and after months of no loadshedding, the country’s favourite bugbear seems to be once again making an appearance. As a result, reliable electricity remains a hot topic.The recently-announced tariff hikes will only compound this frustration. However, there is still a greater sense of cautious optimism surrounding the future, driven by the rapid expansion of the renewable energy sector. Four renewable energy trends that we can expect to see in 2025: Flexibility switches…

Douw Steyn, the insurance giant responsible for reimagining and revolutionising the insurance landscape, has passed away at the age of 72. Steyn will be remembered as an exceptional entrepreneur who built a global business of immense scale across seven countries, and a visionary with a deep-seated commitment to South Africa and its people. In 1975, Steyn founded Steyn’s Insurance Brokers in Johannesburg. He saw the potential of a monthly policy that covered both cars as well as home contents, and promoted this type of policy via door-to-door leaflet distribution campaigns. After operating in South Africa for a number of years, Steyn set his sights on the US market. However he returned to South Africa in 1985 after obtaining an insurance licence that allowed him to pioneer a global first –…

Shares in MultiChoice surged nearly 6% after it announced that the ambitious R55 billion buyout of the South African private broadcaster. by French media giant, Canal+, is being finalised. The shares rose to an intraday high of R113.22, closing the day 2.96% higher at R110.17. This transaction represents a pivotal shift in the media market and raises crucial questions about ownership and empowerment in a competitive industry. According to the companies on Tuesday, the envisioned post-transaction structure will likely be enacted by the MultiChoice Group on or shortly before the Closing Date, ensuring compliance with the relevant restrictions on foreign ownership while safeguarding MultiChoice's Broad-Based Black Economic Empowerment (BBBEE) credentials. This strategic approach aims to navigate not only local laws but also the intricate landscape of corporate responsibility in South…

THE country’s major banks came under fire from MPs in Parliament yesterday over their conduct, preferential treatment, lack of transformation, high fees, and arbitrary decisions on closing accounts, mostly of black people, without providing reason. The South African Reserve Bank (SARB), its Prudential Authority Institute, the Banking Association South Africa (BASA), Financial Sector Conduct Authority (FSCA), Standard Bank, FNB, Absa, Investec, Nedbank, and Capitec attended the joint sitting of the standing committee on finance and trade, industry and competition portfolio committee to engage the finance sector on transformation, and other related matters raised by consumers. MK Party MP Sanele Mwali said they wanted to raise concerns that the giants in the financial sector ‘perpetuate unfairness and neo-apartheid systems of racist practices post-1994’. “Why is it that the banks have not…

Airports Company South Africa (Acsa) is putting measures in place to address refuelling infrastructure challenges at OR Tambo International Airport and Cape Town International Airport. This comes following a statement last week by the Airlines Association of Southern Africa (AASA) raising major concern about South Africa’s aviation infrastructure. AASA said that they note with renewed concern and frustration the recent rash of incidents that disrupted airline operations over the summer peak travel season and throughout this month. “The incidents are primarily related to the reliability of refuelling infrastructure, electrical power supply and redundancy systems at OR Tambo International Airport and Cape Town International Airport. There remains ongoing uncertainty regarding the management of fuel reserves as well as the security of the Jet fuel supply.” Aaron Munetsi, the CEO of AASA,…

The Stormers went from feast to famine within a few months with their stocks at lock. After a shoulder injury to JD Schickerling, one set to keep him out of action for an extended period, the Cape side has two fit front-line second-rowers in captain Salmaan Moerat, and lineout caller Ruben van Heerden left to run the show in the United Rugby Championship (URC). If they do not pick up any more injuries this week, Moerat and Van Heerden should pair in the locks against a formidable Bulls line-out on Saturday for the first North-South derby of the season in a packed DHL Stadium (2pm kick-off). A few weeks ago, the Cape outfit had the conundrum of how they would fit Schickerling, Moerat and Ruben van Heerden into one team.…

Manchester City signed Nico Gonzalez from Porto in the biggest move from Premier League clubs on Monday's transfer deadline day, while Bayern Munich's Mathys Tel headed to Tottenham on loan. City's midfield frailties without Ballon d'Or winner Rodri, who is out for the season due to a serious knee injury, were exposed in a 5-1 thrashing at Arsenal on Sunday. Pep Guardiola's men find themselves in a battle just to qualify for next season's Champions League, with the defending champions sitting fifth in the Premier League, 15 points behind leaders Liverpool. City were also in need of reinforcements for a blockbuster Yefa Champions League play-off round tie against holders Real Madrid later this month. Former Barcelona midfielder Gonzalez, 23, arrives for a reported £50 million (about R1.16 billion). "This is…

The Financial Sector Conduct Authority (FSCA) has told Parliament the lack of appropriate information and transparency on banking fees and customer ethics were areas of concern subject to an imminent report the regulator would release shortly on the banking sector as Parliamentarians went for the jugular with lack of transformation and apparent favouritism. Before Parliament on Tuesday were leading banks, FNB, Nedbank, Standard Bank, Investec, and Capitec, as well as regulatory bodies including the SA Reserve Bank, Prudential Authority, the FSCA, and the Banking Association South Africa (Basa). These banking participants said that while transformation was happening in the sector, significant gaps were identified in the evolution of the industry. Parliament members sought clarity on several issues, including legislation regarding consumer protection that appeared to be inadequate, greylisting and…

Diamond mining countries Angola, Botswana and Namibia have launched the seeds of a fightback against the inroads that synthetic, laboratory grown diamonds are making on the global diamond market, and it has nothing to do with traditional marketing campaigns. “It is not a marketing campaign, but a campaign to tell the truth,” De Beers Botswana Chief Executive Officer Al Cook said in a discussion about the economic benefits for African countries of diamond mining, at the Investing in African Mining Indaba held in Cape Town on Tuesday. An online search reveals that synthetic diamonds equal to one quarter of total natural diamond production was produced globally last year. Synthetic diamonds have had the effect of lowering diamond prices and have become competition for diamond miners in markets where consumers have…

In South Africa we have lived through an “energy and mineral complex", which entails that the extraction and processing of mineral resources, for energy production like coal, oil, and uranium, are deeply intertwined with the broader energy sector; most notably recently highlighting the significant role of mining in the country's energy production and overall economy. While South Africa’s high dependence on fossil fuels makes it particularly vulnerable to the emerging energy transition, it’s abundance of untapped renewable energy potential means the country is also well placed to benefit from the global transition to a low carbon economy. Driven by deteriorating energy security, the exacerbated impacts of climate change, and a concern about livelihoods in the fossil fuel sector, the just energy transition has become the pollical- economy dialogue flavour of…

Although Pick n Pay and Boxer returned what parent company Pick n Pay described on Tuesday as “steady like-for-like sales improvement from the Pick n Pay segment and another strong performance from Boxer Retail” for the 45 weeks to January 5, the retailer continues to face significant challenges. In trading updates, Pick n Pay, said group sales for the period gained 3.6%, with Boxer being the star in the portfolio and reporting gains in sales of 11.4%. On a like-for-like basis, stripping out changes in store numbers, sales overall were up 3.3%, with Boxer achieving a 6.7% gain. Pick n Pay shares soared 4.82% to R29.33 in late afternoon trade on Tuesday, while Boxer, which was spun out as a separate listing on the JSE at the end of last…

The South African mining sector has reported a decline in fatalities, with 42 lives lost in the last year compared to 55 in 2023. While this represents a positive trend, the Minerals Council emphasises that any loss of life in this high-risk industry is unacceptable. Japie Fullard, the chairman of the Minerals Council CEO Zero Harm Forum, said at the Investing in African Mining Indaba yesterday that “at the end of the day it is critical that this number becomes zero.” He said that the numbers are a good indicator for the future, because if the number of injuries are cut, the number of fatalities tend to decrease. Fullard said the CEOs of the mining groups that are members of the Mineral Council meet on a platform every Monday morning…

THE South African Reserve Bank (SARB) deflected questions relating to the liquidation of Ithala Bank when it appeared before Parliament yesterday. The bank was among the institutions that attended the joint sitting of the standing committee on finance and trade, industry and competition portfolio committee to engage the finance sector on issues of transformation, and other elated matters that are raised by consumers. MK Party MP Des van Rooyen noted that Parliament had resolved that the Prudential Authority should ensure that Ithala Bank was supported to become a fully-fledged bank. Van Rooyen said the Prudential Authority had instead snubbed the suggested parliamentary proposal. “Can you give reasons, what is your take on the resolution of Parliament. It is important for us to understand that,” he said. Van Rooyen also said…

Former State Security minister Bongani Bongo, 47, was released on R5000 bail following his appearance in the Cape Town Magistrate’s Court yesterday for alleged corruption related to the Eskom inquiry. Bongo is being re-tried after he was previously acquitted by impeached judge John Hlophe. He is expected back in court on March 4. Bongo is accused of offering a bribe to evidence leader in Parliament’s Eskom inquiry, Ntuthuzelo Vanara, in 2017, and is accused of contravening the Prevention and Combating of Corrupt Activities Act 12 of 2004 (“PRECCA”). Hawks spokesperson Katlego Mogale said: “It is reported that during September to October 2017, the accused approached a member of the then Portfolio Committee on Public Enterprises to allegedly arrange a meeting to prevent the next sitting where the Eskom board was…

Two security guards were shot and killed while escorting a delivery vehicle in Langa on Monday night. Unknown assailants fired shots at the vehicle, targeting the officers inside. Police spokesperson Captain FC van Wyk said Langa detectives registered two counts of murder following a shooting incident on at about 6.26pm at Harry Gwala Street opposite the Langa taxi rank, where two security guards, aged 24 and 31, were shot and fatally wounded. “According to reports, the security guards were escorting a delivery vehicle and the last delivery was in Langa. On their way back to the circle, it is alleged that two unknown males shot at the white Nissan LDV they were driving in, fatally wounding them. Nothing was taken from them, both firearms were recovered in the vehicle.The motive…

As South African football enthusiasts brace themselves for an exciting midweek fixture list, Cape Town City’s interim head coach Muhsin Ertugral will find himself under much scrutiny. On Wednesday (kick-off 7.30pm), the beleaguered Citizens will face Golden Arrows at Athlone Stadium, desperately seeking to end a dismal run of form that has punctuated their season. Having started the tenure of Ertugral with promising victories against heavyweight rivals Orlando Pirates and Kaizer Chiefs, hopes were high that a turnaround was on the cards. However, the positive momentum has quickly fizzled out, and the club now finds itself staggering under the weight of poor performances. With just one win in their last four outings and the threat of a fourth defeat looming, the Citizens are currently standing at a precarious crossroads. Once…

I seldom have time to watch Manchester United in action these days, but last week’s Europa League clash against FCSB caught my eye. Part of the reason I wanted to tune in was to see how erstwhile Kaizer Chiefs defender Siyabonga Ngezana would fare. The 27-year-old was lining up as a centre-back in a three-man FCSB (formerly Steaua Bucharest) defence in front of a packed National Arena stadium, with a capacity of over 55 000. It was a wonderful occasion for the European champions from the 1985-86 season, who are still the biggest club in Romania. What a stage for Ngezana, too, as he has stated previously that he is a big United fan. He was often criticised, sometimes unfairly, on social media during his Kaizer Chiefs stint, where he…