Cape Times içinde 2025-08-01 için içindekiler tablosu

August 1, 2025, marks the dawn of a new era for South Africa, albeit a troubling one, as a hefty 30% export tariff to the United States came into effect. This significant policy change has sent ripples through the nation’s economy, stirring anxiety among businesses and consumers alike. With no agreement in sight to prevent this trade burden, South Africans are bracing themselves for the ramifications on both local markets and international trade relations. US President Donald Trump last month announced that his administration would levy a staggering 30% tariff on all South African products entering the US, with some exclusions or reduced tariffs on metals and minerals, in a bid to address long-standing trade imbalances and unfair market restrictions. South Africa exports billions of rands’ worth of goods to…

MTN Nigeria, the biggest subsidiary of the South African telecoms provider, experienced robust demand in the second quarter and saw a sharp turnaround in first-half profit as the West African economy began to stabilise. “The macroeconomic conditions in Nigeria showed notable improvements (six months to June 30), including a relatively stable naira, improved foreign exchange (forex) liquidity and easing inflationary pressures,” said MTN Nigeria CEO Karl Toriola. This follows recent economic instability during which many South African companies suffered foreign exchange-related losses, in particular, from their operations in Nigeria. MTN Nigeria posted a N414.9 billion net profit in the first half of 2025, a dramatic turnaround from the N519.1bn loss in the first half of 2024. “Building on momentum from the first quarter, we delivered strong growth in service revenue…

Woolworths Holdings has warned that its adjusted headline earnings per share (aHEPS) will fall between 17% and 22% for the year to June 29 after a restructuring impacted its Australian business, and despite continued revenue growth in South Africa. The grocery and fashion, health and beauty retailer warned in a trading statement Thursday that aHEPS will likely be between 292.8 cents to 311.6 cents, compared with 375.4 cents at the same time last year. As of this month, more than 24 000 Woolworths employees have access to health insurance, the first group in the retail sector to offer benefits of this scale. Turnover for the group increased by 6.4% and concessional sales by 7.3% in the 52 weeks to June 29, despite the tough macroeconomic conditions and significant uncertainty arising…

While many South Africans are doing their best to save, too few understand the difference between budgeting, saving, and financial planning. As a result, they often end up using their savings to cover everyday expenses, leading to frustration, shortfalls, and savings that vanish by month-end. This confusion is one of the biggest barriers to long-term financial well-being in the country. The problem is that many people believe saving alone is enough, but without a financial plan that shapes their daily habits and future goals, those savings are not sustainable. They disappear, and then there is no structure to rebuild them. That is where people get stuck, reacting instead of planning. Recent data from the FSCA’s Retail Financial Customer Behaviour and Sentiment Report supports this. The report shows that most people…

CAPE Town teen Peyton Connor, 15, has the best dance moves in the world. She and her teammates beat out thousands of dancers from more than 60 countries to make her mark at the 2025 Dance World Cup in Burgos, Spain. Although previously selected for the South African national team several times, this was her first opportunity to compete internationally, made possible through the generous support of fellow South Africans who helped her get there. Representing Team South Africa, Peyton, a dancer from the K and J Dance Studio, took home first place in the Senior Large Group Commercial category. She also placed second in the Junior Large Group Commercial and received a coveted Golden Ticket to an elite masterclass after finishing fourth in the Junior Commercial Solo. “It was…

POLICE confiscated counterfeit Lego games to the value of R1.5 million from a premises in Durbanville this week. Police spokesperson Frederick C. van Wyk said members of Western Cape Provincial Counterfeit and Illicit Goods Policing Team, Essential Infrastructure Task Team members and DPCI executed a search warrant at a premises in Evolution Crescent, Darwin Park, Durbanville Industrial area on Wednesday morning. “Representatives from Oversheds Sutherland who is a brand protector of Lego games and brand managers were also present during the operation,” Van Wyk said. The premises was searched and counterfeit Lego games to the value of R1.5 million were confiscated. “No arrests have been made. “A case docket was opened at Durbanville SAPS for further investigation,” Van Wyk said. Also on Wednesday, police arrested a suspect for the possession…

Crime Scenes Vespucci Narrated by Emilia Fox Audible Originals Crime Scenes, produced by Vespucci and narrated by the talented Emilia Fox is an Audible Original that takes listeners on a gripping journey through a series of astonishing and twisted crimes. With a runtime just under six hours, each of the five episodes delves into different horrific tales set across varied geographical landscapes – from a Disney-created town in Florida to a serene Caribbean yacht, and the mystifying Australian forests. The first episode, Celebration in Florida, sets a sinister tone for the series. It follows the alarming disappearance of a family in a picture-perfect town. Through the lens of a concerned landlord, the investigation unfolds, revealing the chilling detail that the father is the only survivor of a crime that would…

Springboks coach Rassie Erasmus says the first week of the team’s conditioning camp in Johannesburg has laid a solid foundation for the forthcoming Rugby Championship, and momentum will be accelerated when the players reassemble on Sunday. The team wrapped up the first block of training on Thursday and will spend the weekend with their families before reporting for duty again in a few days, where they will continue to build on their structures for the opening leg of the tournament. The Boks play back-to-back Test matches against the Wallabies in Johannesburg on Saturday, August 16, and Cape Town on August 23. “We had an intense week of conditioning to get the players ready for what will undoubtedly be a challenging Rugby Championship campaign against some of the top teams in…

When nobody is watching, Lions wing Angelo Davids plays the keyboard in his room. But on the field, he plays a different tune with ball in hand. We saw that last week when the former Western Province man dazzled the Sharks’ defence to score two tries and announce to the rugby world that there is vibrant rugby life for him outside of Cape Town. “It was a great start for me, personally, which is what I wanted,” Davids said of his emphatic start to his Lions career. “But that is in the past. It is a new week and a new game (against Western Province). I have to focus on my principles to get better.” The Lions like to give the ball air, and former Blitzbok Davids says this suits…

ArcelorMittal South Africa’s interim headline loss was virtually unchanged at R1.01 billion, non-core asset sales may be necessary and the closure of the Longs business in Vereniging next month is still on the cards. All this bad news sent the beleaguered steel maker’s share price tumbling 7.4% on the JSE late Thursday afternoon to R1.00. The price has fallen steadily from R1.36 a year ago. “Subdued market demand, disruptive rail and electricity interruptions (with a R358m cost impact), and aggressive import penetration placed significant pressure on volumes and margins. Domestic sales volumes fell 10%, and exports by 13%, while long steel imports, predominantly from Zimbabwe, rose sharply,” CEO Kobus Verster said. He warned that should due diligence by the Industrial Development Corporation (IDC) not yield an outcome, non-core assets would…

Multinational mining and metals processing group Sibanye-Stillwater, which is listed in South Africa and America, has filed an antidumping petition with the US Department of Commerce and the US International Trade Commission (ITC) on imports of unwrought palladium from Russia. Sibanye-Stillwater, together with the representative union at its US PGM operations in Montana, the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union (United Steelworkers Union), said on Thursday they have initiated legislative processes intended to ensure the sustainability of Sibanye-Stillwater's US PGM operations and protect the long-term viability of domestic United States platinum group metals (PGM) supply. Neal Froneman, the CEO of Sibanye-Stillwater, said, “We believe that Russian palladium imports are being sold below market prices due to various factors, beginning primarily after…

With credit increasingly being used to cover essential living costs such as food, rent, electricity, and transport, alarm bells are being sounded about unsustainable debt levels of consumers, according to the National Financial Ombud Scheme of South Africa. The National Financial Ombud Scheme South Africa (NFO) describes itself as a single, one-stop, all-in-one dispute resolution service made up of four former longstanding industry ombud schemes: the Ombudsman for Short-Term Insurance, the Ombudsman for Life Insurance, the Credit Ombud, and the Ombudsman for Banking Services. The NFO says it is concerned about high levels of debt exposure in the wake of the release of TransUnion’s Q1 2025 Industry Insights Report, which confirms a troubling trend: credit products commonly used by lower- and middle-income consumers are experiencing rapid growth in both uptake…

Following a legal battle of more than 18 years, Please Call Me (PCM) inventor Nkosana Makate is ready to fight on as the Constitutional Court yesterday ruled that the matter must be reconsidered by the Supreme Court of Appeal (SCA). After the latest ruling by the apex court, Makate said the SCA must once again hear the matter and make a new finding and he is confident that he can convince that court to recognise his entitlement to billions of rand for his PCM concept. Acting Deputy Justice Mbuyiseli Madlanga said the SCA failed to deal with all the matters that were presented before it during the appeal. “The jurisdiction of the court is confined to constitutional issues. In this judgment, we dealt with factual issues, without deciding them, purely…

THE DA is gunning for Deputy President Paul Mashatile to provide answers over his failure to declare a diamond gift from businessman Louis Liebenberg to his wife, resulting in Parliament's Ethics Committee recommending that he be fined R10,000. The committee, through the Office of the Registrar, received a formal complaint against Mashatile on March 5, 2025, for an alleged breach of the Code of Ethical Conduct and Members' Interests. The code requires Members of Parliament to disclose gifts received by their immediate family in the confidential part of the register. Following consideration of the complaint and perusal of the confidential part of the Deputy President's disclosed interests, the committee noted that the gift in question (a diamond from Louis Liebenberg) was not disclosed. The committee said it acknowledged Mashatile's response,…

The much-anticipated 2025/26 campaign kicks off with the season’s curtain-raiser – the MTN8 – where the top eight teams from last season will battle it out for early bragging rights and momentum in what promises to be another demanding campaign. Defending champions Orlando Pirates will be aiming for a historic fourth successive title, having dominated the competition over the last three seasons. Their 3-1 triumph over Stellenbosch FC in last year’s final not only extended their legacy in local cup competitions but also solidified their place among recent greats. However, with a revamped squad and a new coach in Abdeslam Ouaddou, there may be a window of opportunity for the chasing pack to finally halt their dominance. Most clubs have reinforced significantly during the off-season, and the MTN8 presents the…

It’s strange to look back at the 1990s and realise that, even here on the tip of Africa, everyone knew who Wayne Gretzky was. The same was true — even more profoundly — of Ayrton Senna. These were names that transcended borders and sports, legends shaped not just by talent, but by the drama and danger that defined their eras. Back then, the World Wide Web was still an undiscovered country, and the world felt both larger and more connected in unexpected ways. Brazilian Senna wasn’t just a F1 driver — he was a global icon, forged in a time when the sport still had real teeth. I was still a youngster, and although I couldn’t fully comprehend Senna’s death, even I understood, as a 10-year-old in 1994, that the…

Monetary Policy Committee reduces benchmark lending rate by 25 basis points to 7% The South African Reserve Bank (Sarb) has signalled potential future interest rate cuts as it embarks on a strategic adjustment to its inflation-targeting framework from the midpoint of 4.5% to 3%. This comes as the Sarb’s Monetary Policy Committee (MPC) on Thursday unanimously reduced its benchmark lending rate for the second time in a row by 25 basis points to 7%, 2025, the lowest level since November 2022. This means that the prime lending rate will also decline from 10.75% to 10.50% per annum. The cut was widely anticipated amid concerns over a new US tariff regime threatening the already fragile economy. FNB chief economist Mamello Matikinca-Ngwenya said the decision highlighted the MPC’s focus on stable domestic…

SA Breweries (SAB), which managed to grow its revenues and profits by the mid-single digits for the second quarter to end-June, has warned that increasing volumes of illegal alcohol products were entering the South African market. SAB CEO Richard Rivett-Carnac, interviewed on the same day as its parent Anheuser-Busch InBev released its half-year report, said illegal alcohol product sales were now estimated to make up as much as about 20% of the local market, generating up to R25 billion a year in sales. This also translated into a loss to the government of many billions of rand through unpaid customs and excise duties and other taxes, he said in an interview. He said many illegal alcohol product vendors were operating relatively sophisticated schemes, such as recycling bottles, counterfeiting brand labels…

In a rapidly evolving world, fostering entrepreneurial skills in our children is critical. Cultivating innovation, resilience, and a proactive mindset from an early age lays the foundation for future success – and parents play a pivotal role in nurturing these qualities. Here’s how parents can empower children to navigate an ever-changing landscape with an entrepreneurial spirit. Model entrepreneurship at home: Entrepreneurship is an attitude, not just an occupation, making it easy to model at home. Encouraging curiosity, independence, and problem-solving is essential. Prosek and Rende’s book, ‘Raising can-do kids,’ identifies seven key entrepreneurial traits to nurture: exploration, innovation, optimism, risk-taking, industriousness, likeability, and serving others. Importantly, parents don’t need to be business magnates to set an entrepreneurial example. The family home is ideal for teaching soft skills such as collaboration,…

THE Department of Trade, Industry and Competition has accused the DA, its Government of National Unity (GNU) partner of sabotaging efforts to resolve the impasse with the US that will result in local exports being hit with a 30% tariff from today. “Instead of providing constructive support to the efforts made by the government, the Democratic Alliance continues to release reckless statements which undermine the progress we have been making towards the 1 August deadline. This is downright irresponsible for a party in the Government of National Unity, and an integral part of the process. We will not, however, be deterred by this,” said Trade, Industry and Competition Minister Parks Tau in a statement last night. He said the measures his department announced in response to…

Just a few days after the passing of rock icon Ozzy Osbourne, it has been announced that his final memoir, Last Rites, will be published posthumously on October 7 through Grand Central Publishing, a division of the Hachette Book Group. Osbourne, who died earlier this month, completed work on the memoir shortly before his death. The book offers a raw and unfiltered look into the final chapter of his extraordinary life – one filled with personal battles, musical triumphs and moments of reflection. According to the publisher, Last Rites is “udnflinching, brutally honest, but surprisingly life-affirming.” It captures Osbourne’s thoughts on ageing, illness and mortality, while also revisiting pivotal moments from his career and personal life. The memoir dives deep into the health battles that plagued his final years –…

Something special is brewing in the Boland after the Currie Cup Premier Division returnees shocked the Cheetahs in last week’s opening round of the much-loved domestic tournament. The men in black beat the Free Staters thanks to a score in the eighth minute of extra time, in front of a packed crowd in Wellington, to announce their return to top-flight rugby. One of the ecstatic Boland players was a former Cheetah in outside centre David Brits. The 28-year-old Brits is on loan from the Blitzboks and produced a standout performance in front of a packed stadium. He not only crossed the tryline himself but also set up flyhalf Ashlon Davids’ second five-pointer of the afternoon, making the final pass to Davids. The home team won the match with Donovan Don,…