Cape Times2025-04-23的目錄

As the African Growth and Opportunity Act (Agoa) faces uncertainty over its renewal in September, South Africa's automotive industry is bracing for turbulence, with experts on Tuesday warning of significant repercussions if the preferential trade programme is allowed to expire. The Agoahas been a cornerstone for the country’s automotive sector, providing duty-free access to the lucrative United States market. Without it, the local automobile landscape could face dire consequences. Renai Moothilal, CEO of the National Association of Automotive Component and Allied Manufacturers (Naacam), stressed the critical role that Agoa has played in not just boosting export growth, but also attracting vital investments into South Africa’s automotive sector over the past two decades. “Agoa provides South African automotive component and vehicle manufacturers with preferential, duty-free access to the US market. This…

In what must be the strangest political marriage since the dawn of democracy, a court case instigated by both the Democratic Alliance (DA) and the Economic Freedom Fighters (EFF) to prevent a VAT increase started today. The court action, in the Western Cape High Court, has been filed against the Minister of Finance and other entities, including the South African Revenue Services. While judgement is likely to be reserved, the outcome of the matter will affect everyone given that inflation will be adversely affected. Investec chief economist, Annabel Bishop, has already worked out that a 0.5 percentage point increase in VAT will add 0.25 basis points to inflation for each of the two years proposed in the National Budget tabled in March. The DA, this morning during a press conference,…

with Ukraine ahead of Zelenskyy's visit Calls for South Africa to deepen its economic engagement with Ukraine are gaining traction ahead of an anticipated visit from Ukrainian President Volodymyr Zelenskyy on Thursday. This visit represents a significant opportunity for both nations, particularly in the agricultural sector, where experts see potential for long-term mutually beneficial trade relationships. Wandile Sihlobo, the chief economist of the Agricultural Business Chamber of South Africa (Agbiz), said on Tuesday that the leadership discussions will likely revolve around key geopolitical issues, given Ukraine's ongoing conflict. However, Sihlobo emphasised that informal business talks are already underway, setting the stage for possible partnerships. "The Ukrainian President may visit South Africa, accompanied by senior government officials from the economic sector. Such conversations may be about forming connections to…

Each year on April 22, the world pauses to mark Earth Day — a moment to reflect on our collective relationship with the planet. For the Presidential Climate Commission (PCC), every day is Earth Day. Still, this global observance provides a vital opportunity to take stock, deepen reflection, and recommit to a world that is fair and just, a task of which we must undertake for posterity through a transition that must centre not only on people, but also on the health of the planet that sustains us and all of life. As the PCC, our role is to provide an evidence-based platform to support South Africa’s shift to a low-emissions, climate-resilient, and more equal economy. We do this through robust research, broad and meaningful stakeholder engagement, and also independent…

Klaus Schwab, chairman of the Board of Trustees and founder of the World Economic Forum (WEF), has decided to step down. “Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of chair and as a member of the Board of Trustees, with immediate effect,” Schwab said in a statement. At an extraordinary board meeting on April 20, the board took note of Schwab's resignation and unanimously appointed vice chairman Peter Brabeck-Letmathe as chairman ad interim. It also established a search committee for the selection of a future chair. The board acknowledged the outstanding achievements of the retired chairman and founder of the WEF. The forum did not say why Schwab was stepping down. He created the leading global platform…

IN A journey that has been marked by a series of highs and lows as he navigates the vast and unpredictable oceans, Greg Were has arrived in Sandy Bay Marieville Esplanade Royal Yacht Club of Tasmania. Were is currently undertaking a solo circumnavigation of the globe. Were embarked on his solo, unassisted circumnavigation of the globe in July 2024, aiming to set a record as the first person to achieve this feat on a yacht of this size. Despite his initial plan to complete the journey without stopping, Were made a brief stop in South Africa in November 2024 to carry out essential repairs on Hummingbird. Now, after several months of challenging sailing, he has anchored in Hobart for further repairs before continuing his remarkable journey. He will be continuing…

Keshav Maharaj is 35-years-old. So too is Dane Piedt. These were the last two specialist spinners to feature in the Proteas Test side, along with 31-year-old all-rounder Senuran Muthusamy. The leading bowler in the CSA Four-Day series last season was 38-year-old Shaun von Berg, followed closely by 31-year-old Prenalyn Subrayen. And while there’s a common belief that spinners have only truly mastered their craft once they have reached their 30’s, the advanced ages of the country’s leading spin bowlers may well pose a problem in the near future. It is for this reason that Cricket South Africa bowling lead Paul Adams is hoping the upcoming South Africa ‘A’ tour to the West Indies will unearth a new generation of spinners in the country. Along with stalwarts Subrayen and Bjorn Fortuin,…

The IMF on Tuesday projected SA’s GDP to rise only to 1% in 2025, and 1.3% in 2026 The International Monetary Fund (IMF) has slashed South Africa’s economic growth projections for 2025 by 0.5 percentage on the back of slowing activity in the country’s two largest trading partners amid rising US tariffs. The US government announced sweeping reciprocal import tariffs on 60 countries earlier this month, sparking retaliation and raising trade barriers to levels not seen since the Great Depression. In its World Economic Outlook (WEO) for April, the IMF on Tuesday projected South Africa’s real gross domestic product (GDP) to rise only to 1% in 2025 and 1.3% in 2026, which will also drag down the Sub-Saharan African economy. Though this projection is an increase from 0.6% in 2024…

On the second week of April 2025, South Africa woke up to a surprise that Tanzania’s Minister of Agriculture was contemplating to introduce measures to prohibit South African agricultural products from entering the Tanzanian market. This was rather unexpected that Tanzania threatens South Africa about banning its agricultural products that are headed to that country, as well as those that are transiting to its surrounding countries via Dar as Salaam port. This was unexpected because Tanzania's Agriculture Minister, Honourable Mr Hussein Bashe, handled the issue simultaneously to that of Malawi. Malawi and Tanzania have experienced several restrictions together. For example, Tanzanian maize has been prohibited from entering Malawi due to concerns about Lethal Necrosis (MLN) in late 2023. More recently, flour and rice have been restricted, while Tanzanian bananas are…

The rules can be tricky for sectional title schemes wanting to join the burgeoning renewable energy trend. Residential solar installations in South Africa have surged in the past five years, driven by both the unreliability and rocketing cost of Eskom power. Eskom hiked its rates by 9.61% in 2022, 18.65% in 2023, 12.72% in 2024 and 12.75% at the beginning of April, this year. In 2023, thanks to loadshedding, lights were off for 1 750 hours: very nearly 20% of the time. And the threat of loadshedding is ever-present, despite increasing Eskom power bills. Rooftop solar installations grew around 350% in 2023 and last year, according to the SA Photovoltaic Industry Association, the nation added another 8.97MW of solar power generating capacity to its rooftops. Switching to solar is a…

Alphamin Resources, the JSE Alt X and Toronto-listed mining company, has reported a strong uptick in net profit for the year to December 31, 2024, but has warned that the conflict in the Democratic Republic of Congo (DRC) might impact its operations in the future. The Mauritius-based owner of the Bisie tin mine in DRC said Tuesday that in late January 2025, insurgents started seizing strategic cities in Eastern DRC, including the city of Goma. Operations at the company's Bisie tin mine had continued uninterrupted until the end of February. However, all mine personnel were evacuated, with only essential personnel left for care, maintenance, and security, after the insurgents started advancing westward towards the mine. On April 9, 2025, 27 days after the decision to evacuate the mine was taken,…

The commercial real estate sector in South Africa is being tested by a mix of local political uncertainty and mounting global trade pressure, but the market is holding up with investors adopting a wait-and-see approach. Earlier this month, the rand approached a historic low of R19.93 against the US dollar before recovering to R18.97 by April 14. Simultaneously, the JSE All Share Index saw significant volatility, dropping from 89 950.79 on March 31 to 82 485.81 on April 9, before rebounding to 88 162.30 by April 14. Meanwhile, the FTSE/JSE listed Property Index was down by only 1.34% year-to-date on Tuesday, while it was up 21.93% over a 12-month period. Over three months it was up 0.55%. The catalyst for the currency and volatility on the JSE? A 31% reciprocal…

THE DA and the EFF will know next Tuesday the outcome of their application to interdict the VAT increase from taking effect on May 1. Having heard arguments from the parties who also want to set aside the fiscal framework report adopted by Parliament last month, Western Cape High Court Judge President Nolwazi Mabindla-Boqwana said the parties would be notified if a judgment will be issued earlier. “We do understand that it is a complex issue but it must be decided as soon as possible. We will do our best to give judgment at the latest on the 29th, which is next week Tuesday.” DA's legal representative Advocate Michael Bishop told the full bench yesterday that the case before court was about who decides to increase the VAT rate and…

I was honestly worried about Sacha Feinberg-Mngomezulu’s injury situation earlier this season. He just didn’t seem like he could put a few matches together before breaking down. The collarbone injury sustained against the Sharks in December was the latest problem. In fact, in the two previous games against the Sharks and Lions, Feinberg-Mngomezulu went off with concussion and hip issues, respectively. That of course all happened after a knee injury against the All Blacks saw him ruled out of the Springbok November tour as well. After earning the SA Rugby Young Player of the Year award, Feinberg-Mngomezulu said the “injury layoff served me well”, and that “I don’t take any opportunity for granted. I’ve had injuries, and understand that game-time is never given”. He made his belated return against the…

The National Energy Regulator of South Africa (Nersa) has recommended acceleration of policy and regulatory reforms to entrench gas in the country's energy mix. This call comes against the backdrop of ongoing concerns regarding the underdevelopment of the local gas industry, which remains heavily reliant on the Sasol Mozambique natural gas project due to a lack of significant indigenous proven gas reserves. According to the strategy report published by Nersa on Tuesday, the energy regulator pointed out that while there's a robust long-term potential for domestic gas production, immediate steps must be taken to diversify gas supply sources. This includes enhancing pipeline connectivity from Mozambique via the ROMPCO pipeline and securing liquefied natural gas (LNG) imports from both regional and international markets. Despite the promising synergies between natural gas and…

The short-term insurance industry is facing increased pressure from two directions: proposed domestic tax hikes and global trade uncertainty. Taken together, these developments are likely to deepen financial strain on policyholders while simultaneously threatening the growth and stability of the insurance sector itself. The Finance Minister’s proposal to incrementally increase VAT – from 15% to 15.5% in 2025 and then to 16% in 2026 – will directly affect the cost of financial services, including short-term insurance. Insurers have begun giving notice of increases to policyholders, given that VAT is a compliance requirement (and thus does not provide them with additional revenue). The result: higher premiums for policyholders at a time when household incomes are already under pressure from sub-inflationary wage growth and rising living costs. For businesses, the situation is…

Africa’s infrastructure deficit, a $90 billion annual gap, casts a long shadow over the continent’s future. The African Development Bank estimates this shortfall shaves nearly 2% off GDP growth each year, choking economic potential and social progress. From unreliable power grids to crumbling roads, these gaps inflate costs, isolate communities and stifle opportunity. Yet, within this challenge lies a chance to reimagine infrastructure through data and artificial intelligence (AI), transforming obstacles into pathways for growth. The infrastructure gap ripples across Africa’s economy and society. Poor logistics, with transport costs 30-40% higher than in other regions, undermine the African Continental Free Trade Area’s (AfCFTA) promise of a 52% boost in intra-African trade. These inefficiencies translate into pricier goods and fewer jobs, locking nations in a cycle of lost potential. Limited access…

The Financial Sector Conduct Authority (FSCA) has imposed an administrative penalty of R700 000 on African Bank due to misleading advertising that violated the Conduct Standard 3 of 2020 (Banks). This follows an extensive investigation into the bank’s festive season social media campaign, dubbed #KeFestive, which featured misleading financial statements that could misrepresent vital information to consumers. In December 2023, the FSCA identified a social media advertisement that encouraged potential borrowers with the phrase “It’s not a skoloto chomi! Ke investment”. This misleading representation suggested that the personal loans on offer were investment products rather than credit facilities. Such mischaracterisation could significantly mislead customers about the nature and risks associated with the financial product. The FSCA determined that African Bank had contravened essential sections of the Conduct Standard, namely sections…

When it comes to building muscle, most people focus on what happens in the gym. However, in order to build muscle, you can’t just depend on your workout. What you eat, especially your first meal of the day, plays a major role. Breakfast sets the tone for your metabolism, energy levels, and protein synthesis throughout the day. Unfortunately, common breakfast mistakes can slow down or even sabotage your muscle-building progress. Here’s a look at mistakes people make and tips on how to fix them. Skipping breakfast Skipping breakfast means your body goes longer without nutrients, especially protein. After eight hours of not eating during sleep, your muscles are ready to absorb nutrients and begin recovery. Missing this window can increase muscle breakdown and delay recovery. Fix it: Even if you’re…

The Select Committee on Security and Justice has raised grave concerns over the payment of R31 million to suspended magistrates, with some individuals having received substantial salaries since 2018 without performing any work. Committee chairperson Jane Mananiso last week expressed her dismay, stating that the public money cannot continuously be used to fund suspended magistrates. “This is taxpayers’ money that could have been used for much-needed programmes,” Mananiso said. According to Mananiso, one magistrate has been on suspension with full remuneration since September 2018, having received over R8 million since then for doing nothing. The committee indicated that seven magistrates are currently under suspension, with six still receiving pay and one having been suspended recently. Other magistrates that have also received substantial payments, including R7.3 million for a magistrate who…

With her array of tophamper, machinery and her enormous crane with a 5 200-ton lifting capacity, the pipelayer JSD600 at A Berth has dominated the Dockland skyline for several days. This remarkable vessel was designed by the prestigious Ulstein Design & Solutions based in Norway, with offices in Shanghai, Ningbo and in several other shipbuilding countries. One of the company’s revolutionary designs is the so-called X-bow that has a curiously inverted curve, a concept that, when unveiled in 2005, attracted widespread interest from naval architects, shipbuilders and shipowners. As it is designed to deflect spray from the vessel, especially when heading into head sea, it is used among some designers of anchor-handling tugs and other offshore supply vessels that often operate amid heavy seas. Returning to JSD6000, the vessel is…

THE KwaZulu-Natal Department of Education (DoE) says the findings and recommendations of their investigation into allegations that a teacher sent a grade 7 learner text messages of a sexual nature at a Westville school was at the desk of the head of the department to apply his mind and take appropriate actions. Several parents and concerned residents staged a protest outside Pitlochry Primary School yesterday calling for the removal of the teacher. Sydenham police have also confirmed they are investigating a case of child grooming following reports that a man was allegedly sending explicit messages to a 12-year-old girl. Spokesperson for the DoE, Muzi Mahlambi, said the matter was reported to the school principal on April 5 and that the circuit manager instituted an investigation immediately. “We are very disappointed…

One day you’re pushing hard to be part of the Springboks, and the next, you’re out for six months with an injury. That was the lot of Stormers No 8 Evan Roos last year, but having come through a difficult time, the 25-year-old is back to his best and once again putting up his hand for national selection. It was a frustrating time for the former Paarl Boys’ High star last season as he had missed out on Bok selection for the Rugby Championship games in Australia, having started against Portugal in Bloemfontein. Roos decided to fix a lingering shoulder injury with an operation, and that meant months on the sidelines as he also wasn’t available for the Bok November tour to Europe. He eventually returned to action with the…