Cape Times içinde 2025-07-01 için içindekiler tablosu

Exxaro Resources' immediate challenges includes South Africa’s rail infrastructure, a decrease in coal demand from Eskom as well as the uncertainty created by the impending expiry of a 90-day import tariff reprieve granted by the US. Trade regulatory uncertainty has moderated since April, positively impacting financial and commodity markets. Equity indices, crude oil prices, and the US dollar rebounded, said Riaan Koppeschaar, CFO of the coal, iron ore mining, and renewable energy group, in a pre-close statement released on Monday. However. the 90-day reprieve on increased US import tariffs on South African goods is set to expire on July 9, 2025. During this period, South African exports to the US are subject to a 10% tariff instead of the previously announced 30%. Koppeschaar noted that while South Africa's real GDP…

Team of experts and policymakers working diligently to enhance economic stability of South Africa The South African Reserve Bank (Sarb) and the National Treasury are nearing the completion of their joint efforts to review and refine the nation's inflation target strategy. A team consisting of experts and policymakers has been working diligently to formulate recommendations that aim to enhance the economic stability of South Africa, particularly in these challenging times characterised by global uncertainties. “The joint South African Reserve Bank and the National Treasury team is almost done with its work on the inflation target and will soon present its recommendations to the Governor and the Minister of Finance,” the Sarb said in its annual report yesterday. Recently, discussions have emerged regarding whether South Africa’s current inflation target midpoint of…

Despite recent decreases in international oil prices, South African motorists should brace themselves for a petrol price increase, which is set to take effect on Wednesday, 2 July 2025. Experts on Monday attributed this rise to a combination of factors, including fluctuations in Brent crude oil prices and the exchange rate, which continue to impact local fuel costs. Economics professor Waldo Krugell, from North-West University, noted that data from last Thursday indicates an expected increase of around 50 cents per litre for petrol and approximately 80 cents for diesel. “The reason is the higher Brent crude oil price in the middle of the month, which has since decreased. The slightly stronger rand, compared to last month, helps to keep the increase smaller than it would be,” Krugell said. “It is…

Thirty percent reduction in manual work, zero human mistakes, realised in weeks. Those were the claims from a vice president of engineering at a leading global software company I spoke with recently about their AI deployments in financial services. Impressive? Sure. But as I told her, I'm starting to question whether deriving unprecedented cost efficiencies and reducing human error are the holy grail we think they are. This sense has been fed by a sobering warning from Meredith Whittaker, the president of Signal Messenger, in an on-stage fireside chat at South by Southwest (SXSW) a couple of months ago. With global companies like Shopify, Fiverr, and Microsoft making AI usage mandatory for employees across all roles and levels, Whittaker's caution feels particularly urgent. In summary: Beware the allure of handing…

MAS, the JSE-listed company that invests mainly in Central and Eastern Europe retail properties, still has received no formal offers from the two competing bid proposals it had received: from Hyprop and from its development partner and shareholder, Prime Kapital Investments. This was according to MAS's pre-close trading update released Monday, for the financial year to June 30, 2025, in which the owner of retail properties in Romania, Bulgaria, and Poland said all its properties had benefited from “robust trading” in the five months to May 31. MAS, which also has exposure to commercial and residential developments via a Development Joint Venture (DJV) with Prime Kapital Holdings as the developer and general contractor, said consumption had remained strong in all Central and Eastern European countries where the group operates during…

Vow renewals are growing in popularity as more couples choose to celebrate their lasting love with a heartfelt ceremony. Whether it’s a quiet moment between two people or a festive gathering with friends and family, renewing vows allows couples to reflect on their journey and recommit to the future together. From marking milestone anniversaries to embracing a fresh start after challenges, vow renewals offer a meaningful way to say “I still do.” With even celebrities embracing the trend, it’s clear that many couples are finding new reasons to celebrate old promises. If you need high-profile encouragement, look no further than Beyoncé and Jay-Z, who quietly renewed their vows in 2018 and later shared snippets of the intimate moment during their On the Run II tour. Salma Hayek’s husband, François-Henri Pinault,…

GAUTENG Finance MEC Lebogang Maile has committed the province to paying off its 30% portion towards servicing the e-toll debt with the provincial treasury expected to make the payment of R3.3 billion towards the debt yesterday. This comes more than six months since the province made the first payment of R3.8 billion in September last year following the scrapping of the e-toll system early in 2024 with the National Treasury having agreed to cover 70% of the debt as the province took responsibility for the remaining 30%. According to reports, the debt is set to be repaid in five annual installments. During a press briefing on Sunday, Maile indicated that an amount of R5.76 billion would be paid yesterday for the e-toll debt while another portion will be paid towards…

Consumers who rely on images on promotional material to find what they see in the shop should be able to rely on this promise, but in the case of the jewellery chain Lovisa, some of its advertised products could not be found in the store. The Advertising Regulatory Board (ARB), in one of its latest findings, rebuked the jewellery chain for not delivering on its promise despite Lovisa not being a member of the ARB. This followed a complaint by a consumer, who could not find the items displayed in pictures in its promotional material, which displayed sparkling images of jewellery in its stores. The complainant submitted that the items in that picture are never for sale. In fact, they don’t even stock those items, the complaint read. The ARB…

KNYSNA mayor Thando Matika has defended the municipality against the provincial government’s plan to dissolve the municipal council, saying Knysna remained on the correct path to recovery. Local Government MEC Anton Bredell recently notified the municipality of his intention to appoint an administrator until a newly-elected leadership takes over the municipality. Matika said yesterday they have implemented structural reforms and enhanced service delivery since the Council adopted the Consolidated Executive Obligations Monitoring and Enforcement Framework (CEOMEF) in June 2024, “The journey is far from over but Knysna is on the correct path. A series of administrative and governance improvements were undertaken in August 2024, as outlined in the initial implementation report. “By February 2025, the municipality had finalised the appointment of critical senior managers, achieved 97% completion of the Audit…

The dynamics within the business environment for many organisations, regardless of the sector, have soured and continue to do so. Within the context of South African organisations, the external dynamics range from socio-economic factors (such as the high and growing unemployment rate, crime, poverty, etc.) to internal ones like well-crafted business strategies together with the implementation of these business strategies. Thompson, Peteraf, Gamble, and Strickland authored a book called Crafting and Executing Strategy in 2012, highlighting the importance of organisations taking into account resources and capabilities when crafting strategies to enable the organisations to have a sustainable competitive advantage over rivals. There are several categories of resources, such as capital, cash, human capital, and capabilities like manufacturing technology, product quality, and organisational culture, for example. It is my opinion that…

Aryna Sabalenka kept her cool to cruise into the Wimbledon second round on the hottest opening day in the history of the Championships, while South Africa’s Lloyd Harris progressed to the next round. The BBC reported that temperatures at the All England Club reached 31.4°C by 4pm on Monday, surpassing the previous opening-day record of 29.3°C set in 2001. Top seed Sabalenka used ice packs to beat the heat during her 6-1, 7-5 victory over Canadian qualifier Carson Branstine on a sweltering Court One. The 26-year-old Belarusian is a three-time Grand Slam champion but suffered agonising three-set defeats in both this year’s Australian Open and French Open finals. Sabalenka has never gone beyond the semi-finals at Wimbledon and missed last year’s tournament due to a shoulder injury. “I felt really…

Banyana Banyana are set to embark on another historic journey as they prepare to defend their Women’s Africa Cup of Nations (WAFCON) title in Morocco. With just days to go before their opening fixture, Desiree Ellis’s side will be looking to build on a remarkable run of recent success. Having claimed their first-ever WAFCON title in 2022 — beating hosts Morocco 2-1 in the final — Banyana have transformed into one of the continent’s most formidable teams. That historic triumph was followed by another milestone in 2023, when they became the first South African senior national side, men or women, to reach the last 16 of a Fifa World Cup. They bowed out after a hard-fought 2–0 defeat to The Netherlands at the 2023 Women’s World Cup hosted by Australia…

Bayern Munich coach Vincent Kompany praised his team’s relentless attacking threat despite the ebbs and flows of their 4-2 Club World Cup win over Flamengo on Monday. The German side led 2-0, and later 3-1, but on both occasions the Brazilian club found a way to stay in the contest and reduce the deficit. While pleased with his team’s resilience, former Manchester City captain Kompany was particularly impressed with the way Bayern never lost their attacking intent. “I think the key part of the game for me, which always remains a key part, is that we always stayed dangerous,” he said, after the match. “It didn’t matter if we were defending or if we had the ball. “When we had the ball, we were always dangerous. “But even when we…

South Africa’s financial markets began the week on a cheerfully optimistic note, buoyed by a weakening US dollar and a fresh wave of stability within the Government of National Unity (GNU). In early Monday trading, the rand strengthened by 0.5%, recovering to R17.70 against the US dollar, reversing some of the pressure it faced last week. This upward momentum comes as the greenback continues to lose ground, spurred by an easing of tensions in the Middle East, leading investors to take on more risks rather than retreating to safer havens. Economic data from the South African Reserve Bank unveiled promising figures: money supply growth rose to 6.86% in May, up from 6.12% in April, along with a modest increase in credit growth to 4.98% from 4.60%. Such indicators provide essential…

The newest blockchain activity across Africa is highlighting the dynamism of this technology, with use cases emerging that demonstrate exciting new developmental opportunities beyond its crypto transaction roots. As South Africa prepares to host the first G20 summit in Africa, a key theme set to be discussed throughout both the B20 (Business20) and G20 task teams is inclusive digital development. We’ve already seen announcements from the G20 Task Force on Artificial Intelligence, Data Governance, and Innovation for Sustainable Development stating their priorities, with data governance, quality, privacy, and security top of mind to ensure new technologies are harnessed for improved economies, and better lives. So in a year where blockchain-focused venture capital (VC) in Africa outpaced all-sector venture capital, as revealed in Absa’s recently released 4th edition of the African…

As I write this, I can’t help but reflect on the world we lived in three decades ago. A time before smartphones, smartwatches, and social media — before the algorithm learned how to think for us. We lived without constant notifications, beeps, and pings. Our thoughts were not interrupted by endless feeds, and our time wasn’t meticulously mined by the apps we now can’t live without. Life then, in hindsight, may have felt slower — perhaps even richer. Today, we live in a digital vortex. News, entertainment, and social interactions are all just a click away. According to Statista, the average global user spends 151 minutes (over 2.5 hours) per day on social media platforms. In South Africa, this figure is even higher, reaching 3 hours and 44 minutes a…

AECI’s international industrial and chemicals operations reported an improved performance for the five months to May 31, while its South African-based business was impacted by weak power challenges and supplier headwinds. The group, which provides mining solutions, water treatment, agricultural health, and specialty chemicals products, said in an update on Monday that revenue was slightly lower than the same time last year. Conversely, earnings before interest, tax, depreciation, and amortisation (EBITDA) and profit from operations were higher. There was a cut in strategy implementation costs in AECI Property and Corporate Services, and continued conversion of the EBITDA run rate relating to the Transformation Management Office (TMO) initiatives into profit and loss, albeit lower than expected. This was partially offset by the impact of the South African-based operations, in both AECI…

Invicta Holdings, which is listed on the JSE, has marked a year of impressive financial achievements, reporting a sustainable operating profit growth of 16% to R752 million for the year ending March 31. This positive performance reflects the strategic focus on streamlining operations and capitalising on market opportunities, according to CEO Steven Joffe. In a statement released after the results announcement, Joffe expressed satisfaction with the company's progress, noting a 13% rise in sustainable headline earnings per share, which now stands at 553 cents. “These numbers reflect the robust and consistent nature of the group’s core operations,” he said. The South Africa-based company is renowned for its industrial consumables, capital equipment, and auto-agri replacement parts on a global scale. Key initiatives have included the redemption of all preference shares and…

We’ve all been there in those deep, soul-spilling conversations that happen after midnight. When the world is quiet, the lights are dim, and your heart feels a little more open than usual. You start by asking how someone’s day was, and before you know it, you’re talking about childhood dreams, heartbreaks, fears and the meaning of life. But why do these conversations feel so intense, so raw, and somehow more real at night? Welcome to what scientists and psychologists are calling the “Bedtime Vulnerability Effect.” And yes, there’s real brain chemistry behind those after-hours heart-to-hearts. Why are we so chatty at night? It turns out that the need to connect late at night isn’t just a quirk or a habit; it’s partly biological. As our bodies wind down for sleep,…

MTN South Africa has been ordered to either remove or amend its “free-to-use” router advertising, after it has emerged that it is not actually free, the Advertising Regulatory Board (ARB) ruled. This followed a complaint by a consumer regarding MTN’s Shesh@ 600 product that claims to offer a “free-to-use” router. He was charged an “activation fee” of R553 before MTN would activate the router for use. The cellphone giant, however, referred to its terms and conditions, where it stated that “MTN reserves the right to charge a SIM activation fee”. The code of advertising practice expressly requires advertisers to refrain from calling a product or service “free” when there is, in fact, a cost to the consumer, the ARB said. It added that the code also expects advertisers to pertinently…

EFF leader Julius Malema says a DA withdrawal from the Government of National Unity (GNU) paves the way for his party to form part of the national government. The DA threatened to withdraw from the National Dialogue due to what they perceive as President Cyril Ramaphosa's failure to address corruption within the ANC. The DA claims that Whitfield's removal was unjustified and that Ramaphosa has failed to take action against corrupt ANC ministers. At the weekend Malema criticised the DA's decision to join the GNU, saying that they should have allowed the ANC to govern as a minority party instead. “If the DA was anti-corrupt and pro-poor, they should have allowed the ANC to govern as a minority party. Nothing was forcing them into government. They should have…

The theft of a ‘katel’ - a ceremonial stretcher used during Muslim funeral rites - from Mowbray Cemetery is not an isolated incident and follows other break-ins and thefts. Chairman of the Muslim Cemetery Board and Secretary of the Burial Administration of the Muslim Judicial Council (MJC) Faizal Sayed on Friday posted footage of the incident where a man came through the roof to steal the katel. Sayed said he posted the footage in hopes of tracing the thief. “The person cut a hole in the ceiling in the courtyard, came through the ceiling, and took many hours to actually slowly lift the thing up, and get it through the ceiling.” Sayed explained that the cemetery has experienced a slight increase in such incidents in the last month and a…

Walter Sisulu understood that liberation is a process, not a moment On June 12, we gathered at Vaal University of Technology (VUT) not just to honour the towering legacy of Walter Sisulu, whose birthday was on May 18, 1912 – a revolutionary, a father of our democracy, and a quiet architect of freedom – but the day was also used to reflect on the deeper, historical roots of the struggles that continue to shape our continent. Walter Sisulu believed, above all else, in the unity, dignity, and potential of African people, and he understood that true liberation would not come with the lowering of colonial flags, but with the dismantling of colonial logic – embedded in institutions, economies, and minds. It is for that reason that, partially, the fulcrum of…

The Proteas pressed home their advantage on the third day of the first Test against Zimbabwe in Bulawayo, with a magnificent, controlled knock of 147 by Wiaan Mulder guiding to them to 369 in their second innings at the Queens Sports Club, and a commanding lead of 536 runs. The world champions started the day on 49/1 with Tony de Zorzi on 22 and Mulder on 25. Zimbabwe’s bowlers toiled in the Illness-enforced absence of star bowler Blessing Muzarabani for most of the day’s play. Tanaka Chivanga was left to shoulder much of the seam-bowling load. He proved a handful for the SA batters early on, accounting for the wicket of Tony de Zorzi for 31. All-rounder Mulder and middle-order batter David Bedingham were particularly harsh on spinner Vincent Masekesa,…

Jasprit Bumrah remains in contention for India’s playing XI for the second Anderson-Tendulkar Trophy Test at Edgbaston, but assistant coach Ryan ten Doeschate has confirmed that a final decision on the pace spearhead will be left until the last minute. With Bumrah scheduled to feature in only three of the five Tests due to workload management, India’s selectors are weighing pitch conditions, weather forecasts, and squad balance before determining his involvement against England on Wednesday. So far, in training sessions in Birmingham, Bumrah – who took a five-wicket haul in Leeds – has alternated between bowling at full throttle and speaking with various team members and head coach Gautam Gambhir. "He's available for the game, obviously," said ten Doeschate on Monday. "We knew from the start that he was only…

Astral Foods has announced a major development in its efforts to safeguard its livestock and support the country’s food security. On Monday, the integrated poultry producer revealed that it has received a crucial permit from the Department of Agriculture allowing the vaccination of its broiler breeding stock against the Highly Pathogenic Avian Influenza (HPAI) virus, a disease that has caused devastating consequences for poultry industries in Brazil and America. After an extensive application process lasting 18 months, the Director: Animal Health from the Department of Agriculture has granted Astral the much-anticipated approval to implement a vaccination strategy at one of its large broiler breeding farms located in Gauteng. This initiative comes in light of global concerns surrounding the H5 strain of bird flu, which currently represents a significant…

A board’s effectiveness is often judged by the calibre of its directors, the quality of their decisions and the outcomes they deliver. Yet behind every well-functioning board is an unsung enabler: the Company Secretary (CoSec). Far from being a mere administrator, the CoSec is the custodian of governance, the interpreter of legislation, and the quiet force that holds the board together. Their influence shapes not only how the board operates but also how it aligns with its regulatory and ethical obligations. While the statutory duties of the CoSec may include minute-taking, maintaining records, and certifying compliance with rules and legislation, the role goes far beyond these functions. A proficient CoSec provides ongoing governance advisory to the board and its committees, facilitates director induction and training, and ensures that board performance…

Africa is lagging far behind in the global AI race. This does not come as a surprise, however, it has now been confirmed and revealed in an Oxford University report titled, AI Compute Sovereignty Infrastructure Control Across Territories, Cloud Providers, and Accelerators”. The report mapped where AI data centres are located. It claims that artificial intelligence has fractured the world between nations with the computing power for building cutting edge AI systems and those without. The report indicates that only 32 countries, or about 16% of nations, have large facilities filled with microchips and computers, which gives them “computer power”. This revelation should serve as a wake up call to those who care about the sovereignty of different nations. It seems those who should act are more concerned about…

Investec is entering a new phase of its growth journey, driven by a focused set of priorities that build on its well-established strengths while opening pathways for sustainable expansion, CEO Fani Titi said in the company’s annual report released on Monday. Over the past six years, the group has executed a comprehensive strategy to simplify and focus the business. "We have executed this strategy with discipline, taking bold - and at times difficult - decisions. The outcome is reflected in a re-rated market valuation and a streamlined, well-capitalised business poised for accelerated growth," said Titi. Reflecting on this period of transformation, Titi expressed pride in the progress made despite persistent global challenges. The company delivered a structural improvement of 200 basis points (bps) in group returns, laying a solid foundation…

Have you ever noticed how a good laugh, a sweaty workout, or even a warm hug can instantly lift your spirits? That’s not just a happy coincidence; it’s your body’s incredible mind-body connection at work. As someone who has spent years exploring the latest in health, wellness, and the science of happiness, I’ve seen first-hand how tiny changes in our daily lives can make a huge difference to our mental and physical health. Let’s dive into the world of endorphins, your body’s very own mood boosters and discover simple, science-backed ways to tap into their power for a healthier, happier you. The power of the mind-body connection is no longer just a feel-good cliché. “We have an incredibly powerful mind-body connection that can influence us both positively and negatively,” says…

It’s been bitterly cold across South Africa lately, and many of us are feeling the effects, which include dry skin, low energy, sniffles, and sluggish digestion. While warm teas and comfort food are winter staples, there’s one refreshing yet powerful drink that can do wonders for your health during the chill: carrot and ginger juice. This vibrant orange tonic is more than just a trendy health drink. It’s loaded with immune-boosting vitamins, anti-inflammatory properties, and skin-loving nutrients. All of which are especially helpful when you’re braving icy mornings and frosty nights. Here’s why a daily glass might be just what your body needs this season. Strengthens your immune system Winter is peak season for colds and flu, and with temperatures dropping sharply, your immune system needs all the help it…

The man who confessed to killing the former secretary general of the ANC Youth League Sindiso Magaqa will know his fate next Monday when the Pietermaritzburg High Court will hand down its sentence. However Sibusiso Ncengwa will not get a life sentence after the State agreed to a lesser sentence than that which is prescribed for pre-meditated murder because he had confessed after his arrest in 2018 and disclosed the names of those who had contracted the hitmen. Magaqa, who was killed in 2017, was allegedly targeted for exposing corruption within the municipality. During mitigation of sentence yesterday, Ncengwa's lawyer, Advocate Andrew Matlamela, told Judge Nontuthuzelo Mlaba that his client had already spent eight years in custody while awaiting trial. Ncengwa is already serving 30 years in prison for unrelated…

The prosecution in the case against four former executives of Transnet has said there were further investigations to be fully disclosed hopefully when the matter resumes on October 6th. Former Transnet chief fianncial officer Anoj Singh, former CEOs Brian Molefe and Siyabonga Gama, and former engineering chief executive Thamsanqa Jiyane were each granted R50 000 bail by the Palm Ridge Specialised Commercial Crimes Court yesterday. They face charges including contravention of the Public Finance Management Act (PFMA), fraud, corruption and the contravention of the Companies Act. Prosecutors argued that there was a substantial volume of documentary and electronic evidence still to be examined, necessitating a structured process for the defence to access all the pertinent information surrounding the charges. At the heart of these accusations lies the R3.2…

At the screening of the “Legacy of Hope” documentary premiere, Executive Chairman of the Sekunjalo Group, and guest of honour, Dr Iqbal Survé highlighted the importance of solidarity among the Global South, and building solidarity amongst South Africans at home. The issues of inclusivity, unity and global solidarity were among the top points highlighted by panelists at the premiere of the “Legacy of Hope” documentary, which took place on Thursday, at The Wave Theatre Café in Cape Town. Organised by Zoetic Management, in collaboration with Moja Multimedia, “Legacy of Hope, Freedom Through Solidarity: The Russia, Cuba, South African Chapter” is a new documentary exploring the crucial role of international support in ending apartheid. Many people gathered to hear panel members, which included members of parliament, Bheki Radebe and Fadiel Adams,…

Police commissioner General Fannie Masemola has commended the investigating team working tirelessly to apprehend those behind the killings at the University of Fort Hare (UFH), following two more arrests. Police confirmed two men linked to the murder of Vice Chancellor and Principal, Professor Sakhele Buhlungu’s bodyguard, Mboneli Vesele, were apprehended. Vesele was shot and killed inside a vehicle while waiting for the Vice Chancellor outside his home in Alice, in the Eastern Cape on January 6, 2023. He was assassinated by three suspects who were driving a maroon vehicle. He sustained multiple gunshot wounds and was confirmed dead at the scene. These were among several incidents which rocked UFH at the time, including the murder of a fleet manager Petrus Roets in 2022, while several residences of senior management were…

Springbok scrum coach Daan Human looked nervous when asked if the invention of Andre Esterhuizen as a centre-cum-flank has opened up the door for an 8-0 Bomb Squad, but he did not discount the possibility. Esterhuizen was a flank at school before moving to the backline and now the leftfield thinking of Rassie Erasmus has him going full circle. He is a prime slab of Klerksdorp beef at 113kg and 1.92m, and at age 31, he still has plenty of miles on the clock, especially if he makes a success of his transition to a “hybrid” role of the ultimate utility-player. There are very few, if any, other international backs who are comfortable roving between the forwards and the backline. Former Lions centre Marius Louw moved from flank at Grey…

The Fifa Club World Cup has only served to underline the growing European monopoly in international competitions, with as many as seven Uefa teams potentially reaching the quarter-finals. World football’s governing body had promoted the expanded tournament as a model of inclusivity. Yet, it has only reinforced club football’s entrenched power dynamics, as Europe’s elite prepare to dominate once again. Uefa boasts 12 of the 32 competing teams, with the latter stages already resembling the Uefa Champions League knockout rounds. It feels like the deck is loaded in Europe’s favour — and Fifa appears unconcerned as long as the revenue keeps flowing. But this continued dominance by European clubs undermines the competitive spirit of the tournament and threatens long-term credibility. Many critics fear that, unless reformed, the Club World Cup…

Springbok utility forward Jan-Hendrik Wessels says the homework done on Italian players during the United Rugby Championship (URC) will assist the Boks' preparations for Saturday’s first Test against Italy in Pretoria. The Italian national team draws predominantly from Benetton and Zebre. The latter enjoyed one of their better URC campaigns this season, winning five matches to finish 15th, while Benetton ended in 10th place. “I faced Zebre Parma and Benetton, and we did our homework on those players then, so we know the emphasis they place on the scrums,” said Wessels, who scored a try against the Barbarians last week in what was his fourth appearance for the Springboks. “Zebre had one of their best seasons this year and beat a few big teams in the competition, so we are…