Table of contents for 2025-03-31 in Cape Times

ArcelorMittal South Africa (AMSA), which is in dire financial straits, has welcomed the International Trade Administration Commission of South Africa’s (ITAC) review of the steel industry tariff review. The ITAC review could be a lifeline for the company if additional import tariffs are imposed. AMSA, which has been in existence since 1928 having started out as government-owned Iscor, is in favour of localisation and domestic supply. The biggest steel producer in sub-Saharan Africa announced late last year that it was looking into closing its long-steel business in Newcastle and Vereeniging. This placed about 3 000 people at risk of losing their jobs and spurred government to help bail the company out. So far, government has extended some R1.8 billion to partially bail the company out on condition that AMSA participates…

The latest Policy Uncertainty Index (PUI) from North West University (NWU), released on Friday, painted a grim picture of South Africa’s economic landscape, with the index plummeting further into negative territory to a staggering 78.6 for the first quarter of 2025, up from 65.7 in the preceding quarter. This increase marked the highest level of uncertainty recorded since the PUI’s inception in early 2016, signalling alarming implications for business confidence and investment environments in the country. NWU Business School economist, Professor Raymond Parsons, noted that the persistent negative factors outweighing positive ones were indicative of broader economic turbulence. “Persistent negative factors again outweighed positive ones. This was the net outcome of the PUI’s calibration of both positive and negative factors influencing the level of policy uncertainty in South Africa in…

The South African telecommunications sector has long been considered a defensive play, offering relative stability through economic cycles due to its critical infrastructure role and dependable cash flow generation. Despite macroeconomic headwinds, regulatory pressures, and currency volatility in recent years, telcos have continued to provide essential services with relatively low churn. Following a challenging period marked by rising input costs, constrained consumer wallets, and volatile African markets, sentiment is beginning to improve. Currency stabilisation, pricing momentum, and operational efficiency are laying the groundwork for cautious optimism across the sector. Vodacom: Egypt Stabilising, Local Market Rational – but Limited Upside. Vodacom enters 2025 with a more balanced geographic exposure, thanks in part to its acquisition of a 55% stake in Vodafone Egypt. While this market was initially challenged by currency devaluations…

Gold recorded a new record level of $3 085 in intra-day trade on Friday. Analysts like Goldman see the price for bullion at $3 450 over the next 12 months. The ongoing Trump-led tariff war with the rest of the world is expected to drive up global inflation and weigh on risky assets like equities, reinforcing gold’s role as a safe haven for investors. The possible break in the Government of National Unity, given the stalemate position on the national government’s Budget, has put the Rand exchange rate under pressure, as the currency closed Friday on R18.44 to the dollar (22 cents weaker for the week), R19.96 against the euro (16c weaker), and depreciated during the week with 34c to R23.88 against the pound. The JSE All Share Index enjoyed…

Private healthcare provider Netcare’s total paid patient days (PPD) are expected to increase by only 1.1% for the first six months of its 2025 financial year due to the timing of the Easter holidays, which will slow activity levels. It’s directors said in a trading update Friday that activity was influenced by the timing of Easter and school holidays. This year the holidays fall in April 2025, as compared to March 2024. As a result, activity was expected to slow down in April 2025. Notwithstanding the seasonal factors, they said the group was on track to meet guidance, including that revenue would grow by between 5% and 6% for the financial year, while PPD was expected to increase by between 0.8% and 1.3%. PPD for the acute hospitals was expected…

In our fast-paced world, home cooks are always on the lookout for tricks that can save time in the kitchen. Recently, an expert technique for peeling boiled eggs has taken the social media landscape by storm, especially appealing to egg enthusiasts who have grappled with the age-old frustration of stubborn eggshells. With the popularity of boiled eggs experiencing yet another surge, overcoming the irritation of clingy shells has brought this clever solution into the spotlight. The viral discovery was highlighted by physiotherapist Pedro Baptista in an Instagram video, revealing a technique that many are dubbing a culinary game-changer. The video shows a woman boiling a few eggs but adding a slice of lemon to the pot. The overlay text reads: “Did you know peeling eggs could be this easy?” The…

Minister of International Relations and Cooperation, Ronald Lamola, says the South African government is not prepared to compromise on its international policy, including its decision to pursue the International Court of Justice (ICJ) matter against Israel to appease US president, Donald Trump's administration. It has been reported that the US government's freezing of funding to South Africa may be punishment for South Africa dragging the Israeli government and Prime Minister Benjamin Netanyahu to the ICJ over the genocide in Gaza. “We are not going to compromise on our international relations policy concerning the ICJ matter and our outlook on human rights, as well as our domestic issues, which are foregrounded in our Constitution of South Africa.” Lamola was speaking as part of ANC's international relations subcommittee during the third day…

The pressure of balancing domestic and continental fixtures, coupled with national team call-ups, has taken its toll on Stellenbosch FC. On Saturday evening, Magesi's Thabang Sibyanyoni snatched a breakaway goal with 21 minutes left, to give his side a 1-0 win at the Seshego Stadium, after Stellenbosch had dominated much of the game. Stellenbosch decided to rest key defender Fawaaz Basadien, who had just returned from international duty with Bafana Bafana. He started and finished both international matches, contributing to clean sheets and an assist. Stellenbosch coach Steve Barker felt Basadien badly needed a rest and did not select him for the Seshego Stadium outing. More importantly, Barker felt Basadien needed to be in peak condition for the CAF Confederation Cup match against Zamalek of Egypt in the first leg…

Standard Bank Group CEO Sim Tshabalala’s single figure remuneration increased 7.1% to R89.22 million in the year to December 31, while that of his former deputy CEO Kenny Fihla, who this month announced his resignation to become CEO of Absa, fell by 3.7% to R67.29m. According to the remuneration report of Africa’s biggest bank by assets, released on Friday, Fihla’s cost-to-company was increased to R9.5m from R8.7m on September 1, 2024 following his appointment as deputy CEO of the group. His 2024 short-term incentive award reflected both his role as Corporate and Investment Banking CEO until August 2024, and his role as deputy CEO of the group from September 2024. Tshabalala’s total single figure was 8.3% short of the maximum payable under the performance parameters of the group’s remuneration policy…

The Minerals Council of South Africa has remained confident that the mining industry was firmly on the path to Zero Harm after recording a historic low of 42 deaths in 2024, a 24% decrease from 55 in the previous year. This marked a significant milestone in the industry’s quest to ensure safe mining practices and highlighted a commendable reduction in workplace fatalities while recorded injuries fell to 1 841, reflecting a 16% drop from 2023. Minerals Council CEO, Mzila Mthenjane, said this showcased that the industry was on a definitive path towards achieving its goal of Zero Harm—ensuring every employee returns home safely and in good health. However, Mthenjane emphasised that falls of ground remained the highest risk of all underground mines and management of these incidents remained a critical…

Workers cannot afford for Parliament not to pass a progressive Budget. Whilst there have been previous minor delays in the formal passing of budgetary legislation, South Africa has never ventured into the current impasse where society and government are not sure when and in what form the Budget will be passed. The National Assembly is scheduled to vote on the Fiscal Framework and Revenue Proposals, the key foundations for the Budget, on April 2 with the remaining legislative components to be adopted afterwards. The law provides various provisions in the event of further delays to adopting the Budget, including a prohibition on new expenditure items and an expenditure restriction for a limited period of time to 45% of previously approved allocations. This would mean new relief items contained in the…

MultiChoice, the entertainment company, cautioned on Friday that its financial results for the year ending March 31, 2025, will likely reflect ongoing economic challenges, including a cost-of-living crisis and currency depreciation across key markets. The group, which operates in South Africa and the broader African continent, said in a voluntary operational update that household spending remains under strain due to high inflation and elevated interest rates. This follows its interim results for the period ended September 30, 2024, released in November, which highlighted a tough consumer environment and "unprecedented external adversities" such as disrupted power supply and macro-economic headwinds. "Since then, the group has continued to experience pressure, as household spending remained constrained," MultiChoice stated, noting that these factors, combined with increased investment in its streaming services, are expected to…

If you’re tired of swiping left or right on dating apps, you might want to slip into a pair of comfy shoes and join a running club because that is where more and more people are looking for love. People have become bored and frustrated with dating apps and having to make awkward small talk over drinks and not getting any closer to meeting their ideal partners. With dating apps, all you have to go on is a few profile pictures and a bio, which could be written with the help of ChatGPT, to decide if you want to connect with that person. Then, after a few messages, you might find yourself sitting across from a stranger at a bar, trying to figure out if they’re as fun in real…

The South African National Defence Union (SANDU) said it noted with “cautious optimism” the peace agreement, reached with among others, the M23 group, includes provisions for the safe passage and return of SANDF troops who have been surrounded and confined to their bases for the past 63 days. The M23 armed group agreed a deal on Friday with the Southern African Development Community on the evacuation of SADC forces from the eastern Democratic Republic of Congo (DRC). The 16-nation SADC, the regional bloc for southern Africa, decided to end the deployment earlier this month at a summit focused on the escalating violence. SANDU said the agreement also includes the return of SANDF equipment to South Africa. “There remains a significant gap between the signing of an agreement and…

Tensions in the home environment apparently led Brent Williams to hire hitmen to kill his in-laws in order to “neutralise” his marital problems. One of the hitmen was recently convicted on a charge of murder and two charges of attempted murder following the cold-blooded attack on the elderly Muslim couple in their Northpine home, while getting ready for their morning prayers. Williams died shortly before the conclusion of his murder trial before the Western Cape High Court. One of the killers, Reagan Davids, was convicted, while the third perpetrator is still unknown. Williams and his wife, Ibtisaan Dennis, lived in the same house but in different bedrooms. His in-laws, Hashim Dennis, 75, and his wife of 47 years, 70-year-old Kulsoem Dennis, lived in a flat on the premises. In…

John Dobson’s biggest headache over the next four games in the United Rugby Championship (URC) will be how to fit all his trump cards into one hand as his side pushes for a playoff place in the competition. They will play their final round-robin matches all at home, and while they are outside of the top eight following a 38-34 loss to Ulster in Belfast this past Friday, they will know precisely what is needed to make the playoffs. The Stormers, currently 10th, will face Connacht, Benneton, the Dragons and Cardiff at the DHL Stadium and all four games are winnable with a full house of points. Director of rugby Dobson must only figure out over the next couple of weeks what his team selections will look like as they…

Manchester City came from behind to reach the FA Cup semi-finals with a 2-1 win over Bournemouth on Sunday, but victory came at a cost as Erling Haaland hobbled off injured. Haaland had seen a first-half penalty saved before Evanilson put the Cherries in front. The Norwegian made amends by equalising four minutes into the second period before being forced off with an ankle injury. His replacement, Omar Marmoush, took just two minutes to score the winner from a second assist by the impressive Nico O'Reilly. City will face Nottingham Forest in the last four after reaching the semi-finals for a record seventh consecutive season. Pep Guardiola said even FA Cup glory would not save a miserable season for the English champions with this competition their final shot at winning…

Unless the ANC embraces coalition governance fully, fiscal consolidation will remain out of reach, says curency strategist Andre Cilliers The rand fell by nearly 1% to R18.40 against the US dollar over the course of last week as market concerns continued over the National Budget deadlock and whether parties in Parliament will reach consensus before the Wednesday deadline. Parties within the Government of National Unity (GNU) are divided on whether to support Finance Minister Enoch Godongwana’s proposal to increase value-added tax incrementally by 1 percentage point over the next two fiscal years to plug the R58 billion Budget shortfall. Moody’s Investor Services has already fired a warning shot, saying that if the budget fails to pass in Parliament, longer-term fiscal credibility could be at risk. On the political front, the…

"April is the cruellest month, breeding / Lilacs out of the dead land, mixing / Memory and desire, stirring / Dull roots with spring rain." — T.S. Eliot, The Waste Land (1922) T.S. Eliot’s 'April is the cruellest month' unfortunately rings true for South Africa in 2025 — not as a hopeful spring, but as we face unprecedented, unpalatable economic challenges, none of which are easy. This Wednesday, as South Africa moves into April, brings to the table a critical Budget vote, US President Donald Trump’s tariff deadline, and uncertainty over a new US Ambassador to our sunny shores. It’s a gauntlet demanding sharp focus from businesses and policymakers. Parliament will soon vote on Finance Minister Enoch Godongwana’s controversial revised Budget, now mired in Government of National Unity (GNU) discord.…

South Africa at 30 reminds me of the discussion I held with the late Dr Vuyo Mahlathi in 2018. Among other achievements, Mahlati was the president of the African Farmers Association of SA, a member of South Africa’s National Planning Commission and chaired the Presidential Advisory Panel on Land Reform and Agriculture. The discussion was about Msinga, a village in KwaZulu-Natal. The story of South Africa at 30 is captured in Genesis 41:1-57, where Pharaoh had two dreams. In one dream, seven fattened cows emerged from the Nile, only to be replaced by seven lean ones. The second dream featured seven plump heads of wheat followed by seven undernourished ones. Pharaoh asked Joseph to interpret these dreams. Joseph told Pharaoh, “Your Majesty, seven years of pestilence and hunger will follow…

Novus Holdings, a printing and packaging firm, said on Friday it will urgently appeal a decision by the Takeover Regulation Panel (TRP) to withdraw approval of its firm intention announcement (FIA) for a mandatory offer to buy shares in technology distributor Mustek Limited. The TRP had initially approved the FIA on November 15, 2024, but reversed its stance, prompting Novus to criticise the move as "improper." The regulator has directed Novus to issue a revised announcement within 20 business days, a development the company said could cause "unfortunate impact and confusion" for shareholders. "Novus intends to appeal against the aforesaid ruling of the TRP on an urgent basis," the company stated, adding that it "remains fully committed to the mandatory offer process and implementation thereof in accordance with its obligations."…

Investment holding group Rex Trueform passed the dividend after subdued sales at its clothing stores and headline earnings per share fell 3% to 97 cents in the six months to December 31. The group, which has more than 100 retail stores among its investments, on Friday reported a 4.5% decline in revenue to R458.1 million, while the gross profit margin appreciated to 52.4% from 46.5%. The operating profit increased 9.6% to R45.4m. Net asset value increased 3.3% to R21.17. The thinly traded share price was unchanged at R11.27 on Friday afternoon on the JSE. CEO and significant shareholder Marcel Golding said in the results announcement that South Africa’s economic growth is forecasted to be 1% for 2025, an improvement on 2024, but still well below the desired growth levels, with…

THE 23 South Africans who were trafficked to Myanmar with the promise of lucrative job opportunities and repatriated back home last week have been reunited with their families and would continue to receive psychosocial support. In an update on Saturday, Hawks spokesperson Brigadier Thandi Mbambo said medical assessments were conducted on some of the alleged victims of trafficking from Myanmar. Mbambo stated that some still suffered from post-traumatic stress disorder as a result of their ordeal and only wanted to be reunited with their families. “Every one of the suspected victims has been reunited with their family members.” She advised that victims will continue to receive psychosocial support before any statements can be obtained from some of them. The repatriation of the victims was part of a bilateral cooperation agreement…

THE DA is confident President Cyril Ramaphosa will deliver on some of the proposals they’ve put forward as the parties in the Government of National Unity (GNU) continue being divided over the proposed budget which is set to be decided on Wednesday. It has been reported that the DA has apparently agreed to support the budget in its current format, which included a VAT hike of 0.5% or 1% over two years in exchange for the scrapping of the National Health Insurance (NHI), the Basic Education Laws Amendment Act (BELA) and the Expropriation Act among others. While not specific on their considerations, DA national spokesperson, Willie Aucamp told the Cape Times yesterday that his party presented a document two weeks ago which the ANC rejected two days ago, but negotiations…

GRANT beneficiaries have been given another temporary reprieve, as the deadline to replace South African Social Security Agency (SASSA) gold cards has been extended by two months, until May 31. Since the announcement of the transition deadline, beneficiaries have been frantic in trying to make the switch. Postbank and Sassa have been accused of failing to ensure a smooth transition, forcing beneficiaries to endure long queues, network glitches and being turned away without completing their card replacements, and uncertainty about how they will receive their grants going forward. Postbank started replacing Sassa Gold Cards with the new Postbank Black Cards in September 2024, with the initial deadline of February 28. This was then moved to March 20 despite over a million beneficiaries still outstanding. “Postbank is pleased to announce that,…

Boland foiled neighbours’ Western Province’s bid to push for an outright victory at Newlands on Sunday. Province had posted a massive 592/8 in their first innings before dismissing Boland for 318. But with Province’s bowlers toiling for 109 overs, the home team opted not to enforce the follow-on and added a quick-fire 106/2 in just 19 overs to set Boland 380 victory on the final day. Justin Ontong’s side lost Pieter Malan (8) and Gavin Kaplan (26) early in the reply to Mihlali Mpongwana and Jody Lawrence respectively to provide Province with hope that they could possibly force a result. However, their chances were dimmed when Grant Roelofsen (92) and Aviwe Mgijima combined for a solid 126-run third wicket partnership. Roelofsen controlled the Boland innings and seemed well set for…