Cape Times2025-05-23的目錄

Pick n Pay Stores’ share price soared nearly 5% on Tuesday, after it predicted that its headline loss per share (HLPS) would improve by between 55% and 75% for the 52-week trading to February 25, which is indicative of its turnaround strategy starting to take effect. The HLPS for the major grocery store group that struck financial difficulties during the past two years would be between -77.49 cents and -43.05 cents for the period, compared with the HLPS of -172.21 in the same period last year. The share was trading at R27.43 late afternoon Thursday, 4.89% higher than the opening price, but sharply down from R53.85 three years ago, as the share price followed the declining financial performance of the group. Pick n Pay management said in a trading statement…

Tourism association says much of the coverage borders on sensationalism The South African tourism industry has come into defense of the country’s safety and hospitality levels amidst an ongoing narrative about crime in Africa’s most-developed economy. This comes as a group of 49 Afrikaners recently migrated to the United States after taking up the offer of a refugee status as the US government falsely believes there is an ongoing “genocide” against them in South Africa. Recent headlines sparked by a widely publicised exchange between US President Donald Trump and President Cyril Ramaphosa have reignited international focus on crime in South Africa. During the meeting, Trump repeatedly claimed that genocide against white farmers is taking place in South Africa, an allegation denied by Ramaphosa. “We have many people that feel they’re…

The Agricultural Business Chamber of South Africa (Agbiz) has raised concern about the impact on food price following yesterday’s announcement that consumer food price inflation increased to 3.3% in April from 2.2% in March. Wandile Sihlobo, chief economist at Agbiz, said this reflected the pass-through of the higher agricultural commodity prices observed at the end of last year and into the start of 2025, particularly with grains. Sihlobo added that in the case of meat, price increases were expected as a response to the slight recovery in consumer demand, which have been highlighting in recent months. “In the case of vegetables, we see the increases as a reflection of disruptions in field work caused by the excessive rains in recent weeks, which should be a temporary blip,” he said. Sihlobo…

In theory, prescribed debt offers relief: if a debt hasn’t been acknowledged, paid, or legally pursued within three years, it’s no longer enforceable. But in reality, many South Africans are still being hounded for these expired debts, and most don’t know they have the right to say no. Many consumers don’t realise they have rights when it comes to old debt. If you haven’t made a payment, acknowledged the debt, or been legally pursued in three years, it may be prescribed, and no longer legally recoverable. But even a simple phone call where you say, ‘I’ll pay when I can’ can restart the clock. The National Financial Ombud (NFO), South Africa’s financial watchdog for consumer justice, handled 40,859 cases in its first year (March 2024–March 2025) across banking, credit, insurance,…

In a remarkable year for Spear Reit, the Western Cape property investment group expanded its portfolio significantly while reporting a solid increase in distribution per share (DIPS). With a rise of 3.06% to 81.27 cents for the 2025 financial year, expectations for the forthcoming years remain optimistic, as CEO Quintin Rossi anticipates further DIPS growth of between 4% and 6% for the 2026 financial year. Describing the past year as transformative, Rossi, in an interview on Thursday. highlighted the acquisition of 13 commercial properties from the Emira Property Fund as a key milestone. This expansion, coupled with a R130 million share issue for a fully let 30 000 square metre agriculture and wine logistics facility in Paarl announced this week, signifies a firm commitment to a growth strategy that is…

THE Presidency now claims Special Envoy to the US Mcebisi Jonas volunteered to skip the crucial meeting between President Cyril Ramaphosa and his US counterpart Donald Trump at the White House. This follows presidential spokesperson Vincent Magwenya’s remarks that the Americans had raised some "displeasure" about Jonas’s inclusion to visit the Oval Office. There were also reports that he did not hold a valid visa to the US. In a statement yesterday, Magwenya said: "Initial interpretations of procedural matters, communicated in good faith, have been amended following confirmation that Mr. Jonas holds a valid visa for travel to the United States of America.” He said Jonas contributed to preparatory engagements before the meeting, including consultations abroad, but his absence from Washington was at his own request. In 2020,…

ABOUT 12 million citizens, which is nearly one-fifth of South Africa’s population, now live in state subsidised homes. Yet, numbers tell only part of the story. Early housing policy was not without flaws. In the rush to address the backlog, many RDP houses were built on cheap land far from city centers - essentially continuing apartheid’s peripheral spatial planning - and were often of poor quality due to shoddy contractors. Rows of identical, hastily built boxes sprang up on the urban periphery - barren, desolate developments that critics said echoed the spatial logic of apartheid both in style and in isolation. Moreover, the allocation of these houses quickly became a contentious issue. In the 1990s, housing waiting lists were maintained by municipalities, hopeful beneficiaries would apply and wait their turn.…

To “be a man” in Trump’s mould is a desperate attempt to validate a crumbling identity THE Oval Office, May 2025: a stage for a performance of power, pretence, and profound racial anxieties. When President Cyril Ramaphosa met Donald Trump it revealed more about strategic absences and subtexts than explicit declarations. It was a stark microcosm of enduring global racial anxieties, the complex interplay of power and capital, and a problematic pursuit of “manhood” deeply rooted in colonial legacies. Trump, ever the showman, aggressively framed the “white genocide” myth, playing videos of Julius Malema and MK Party members “clamouring for land”. Ramaphosa, visibly uncomfortable but composed, responded with measured diplomacy, clarifying that these were not official government policies and highlighting that crime affects all South Africans, predominantly black people. Yet,…

The Stormers will be disappointed that Damian Willemse has been handed a three-match ban by a United Rugby Championship disciplinary panel, despite the Springbok entering what amounted to a plea bargain. Willemse’s role in the URC is possibly over as his ban starts with next week’s quarter-final against Glasgow, and would include a potential semi-final. The 27-year-old could play in a possible final if he attends “tackle school,” which would lop one of the games off his suspension. Willemse was red-carded in the Stormers’ defeat of Cardiff last Friday, and while there was no debate that contact was made with the head of wing Gabe Hamer-Webb, there appeared to be mitigating circumstances. As Stormers coach John Dobson put it, “Damian was stuck (in a gang tackle), and was trying to…

Africa’s largest mobile network operator, MTN, is convinced that South African courts have no jurisdiction to hear a matter involving alleged corruption in Iran, and that the issue should be dealt with in the Middle Eastern country. This follows a landmark judgement earlier this month in the Supreme Court of Appeal (SCA) that made it possible for mobile rival and accuser Turkcell to present evidence that it believes shows that MTN committed acts of bribery and corruption to overturn the award of an Iranian GSM licence to Turkcell. The SCA ruling set a precedent in that it was the first time a South African court had been asked to determine whether allegations of misconduct that apparently took place in another country could be heard locally. MTN has now taken the…

The Automotive industry has expressed mixed reactions to the 16 cents per litre increase in the fuel levy announced by Finance Minister Enoch Godongwana in Budget Speech. The Automobile Association (AA) on Thursday responded to the announcement with apprehension, acknowledging the government's fiscal constraints while highlighting the immediate repercussions this levy increase will have on consumers and the broader economy. The AA added that this levy adjustment came at a time when South Africans were already contending with high food prices, elevated interest rates, increased electricity tariffs, and persistently high unemployment. “Fuel is a critical input cost across all sectors of the economy; any increase inevitably drives up transport and operational costs, further intensifying inflation. Lower-income households, which spend a greater share of their income on transport, will be disproportionately…

Approaching retirement is a significant milestone that requires careful and holistic planning. One of the best ways to ensure nothing is overlooked is to create a retirement checklist. Below are some key items to include on your list as you prepare for this major life transition. Inventory of assets: Start by compiling a complete inventory of your assets, categorising them by type: retirement funds, business interests, discretionary investments, property, trust assets, and so on. Include their current values, locations, and ownership structures, especially where trusts or companies are involved. This will give you a clear picture of your wealth and help ensure your planning is tax-efficient and aligned with your retirement goals. Planned retirement date: Have a planned retirement date in mind, but remain flexible. Avoid committing to retirement before…

Life Healthcare Group lifted its interim dividend by 10.5% to 21 cents a share in the six months to March 31, and it intends to continue growing its underlying asset base significantly in Southern Africa during the second half. The group, which operates 64 healthcare facilities across South Africa and Botswana, plans to add 58 acute hospital beds and 24 acute rehabilitation beds, and it will start building the new 140-bed Life Paarl Valley Hospital in the Western Cape. A new cath-lab and a new vascular lab will also be added to the acute business, as stated by CEO Peter Wharton-Hood in the results statement. The group will continue to grow its diagnostics business, with further transactions expected to be completed in the second half, as well as the addition…

President Cyril Ramaphosa's Wednesday meeting with US President Donald Trump at the White House has drawn criticism for not adequately addressing the pressing issue of youth unemployment in South Africa, which affects a staggering 65% of young people. Dr Iqbal Survé, Chairman of Sekunjalo Investment Holdings and Independent Media, holds the view that Ramaphosa missed a crucial chance to address the country's serious problem of youth unemployment. He was delivering a speech at the 2025 Future of Jobs Summit held at the DP World Wanderers in Melrose North, Johannesburg yesterday, where he spoke about how South Africa can create job opportunities for the youth and a thriving economy. “If I was the President of South Africa, I would have sat in the Oval Office room last night (Wednesday) and I…

A father who was errant in paying his court-ordered maintenance will serve jail time if he did not cough up the arrears owed to the mother of his two minor children. The mother and father, who are divorced under Sharia Law while their civil marriage still subsists, both turned to the Western Cape High Court - the father in a counter-application - but the court found in favour of the mother as the primary caregiver of the children. The father - a repeat contempt of court offender - was sentenced to 240 hours of periodical imprisonment over weekends from 6pm on a Friday until 6am on a Monday until such time as the stipulated number of hours had been reached. The sentence would have been suspended if he was able…

EVERY day across Africa, millions of people with disabilities navigate a world that excludes and disadvantages them. While laws and conventions across the continent proclaim equality, the lived reality for people with disabilities often tells a different story – one of structural, systemic and often invisible exclusion, marginalisation, and denial of basic rights. Disability is not merely a physical or mental condition – it is a complex interplay between individual impairments and the societal, environmental, and institutional barriers that prevent full participation. For example, a deaf student may be excluded from university lectures without sign language interpretation, while a blind person may miss vital health updates shared only in visual formats. Such barriers, not the impairments themselves, often limit full participation. The human rights model of disability, as reflected in…

South Africa’s mining sector remains engulfed in investor uncertainty despite the recent gazetting of the Draft Minerals Resources Development Bill of 2025. The government aims to enhance mineral exploration and bolster international investment through this initiative, but experts have voiced concerns about the existing complexity and lack of clarity that may hinder progress. South Africa, a major mining hub in the region, has identified platinum, manganese, iron ore, coal, and chrome ore as “high-critical minerals” under the new Critical Minerals and Metals Strategy. It has also classified commodities such as gold, vanadium, palladium, rhodium, and rare earth elements as minerals with moderate to high criticality while copper, cobalt, lithium, graphite, nickel, titanium, phosphate, fluorspar, zirconium, uranium, and aluminium were identified as minerals with moderate criticality. While the Minerals Council on…

This would not be the first time in history that a world-leading nation suffers from a severe cultural and social backlash at home and abdicates its leadership role in global commerce. Superficially viewed, Donald Trump’s attacks on the global economic and strategic order appear as attacks on the rest of the world. However, the root cause of his attacks is entirely domestic in origin. A large share of the American people is not benefiting from the United States’ extraordinary riches and feels marginalized in a society dominated by cosmopolitan and socially progressive elites. Abdicating generations of U.S. leadership This is astonishing insofar as the contemporary trade and economic order of the world has been shaped by at least three generations of U.S. government and business leaders. Their concerted actions have…

Old Mutual is urging South Africans to be on high alert as deepfake scams become increasingly sophisticated and widespread. Scammers are leveraging artificial intelligence (AI) to create highly convincing fake videos, voices, and images, duping unsuspecting individuals and businesses. The growing threat of deepfake scams “Deepfakes are no longer just a futuristic concept in movies. They have become a real-life threat, impacting ordinary people in alarming ways,” says Dhesen Ramsamy, chief technology officer at Old Mutual. The company has observed a sharp increase in cases where fraudsters use AI to impersonate well-known personalities or company executives. Their goal? To trick victims into handing over their money or personal information. According to Old Mutual, recent cybersecurity research by Sumsub reveals a staggering 1,200% surge in deepfake-related attacks in South Africa within…

Minister of Transport Barbara Creecy has approved a R51 billion guarantee facility for Transnet, effective immediately, in a bid to bolster the State-owned freight and logistics group. This financial backing, which was granted with the concurrence of the Minister of Finance, aims to support Transnet’s vital capital investment programme and assist the entity in meeting its debt obligations amidst ongoing reforms. Transnet's significance cannot be understated; it serves as a cornerstone of the South African economy, playing a critical role in facilitating the government’s goal of inclusive growth. Currently, Transnet is undergoing a comprehensive reform programme designed to enhance its operational performance as it strives to address longstanding financial, operational, and governance challenges that have impeded its ability to deliver on its strategic mandate. As part of its trajectory towards…

Former president Thabo Mbeki and former Justice minister Brigitte Mabandla must wait for the commission of inquiry into the failure to prosecute cases referred by the Truth and Reconciliation Commission (TRC) to set the record straight. This was the response from the families of victims and survivors of apartheid-era crimes to Mbeki and Mabandla’s application to intervene in the Gauteng High Court, Pretoria, matter challenging the government’s conduct in unlawfully refraining and/or obstructing the investigation and/or prosecution of apartheid-era cases referred by the TRC to the National Prosecuting Authority (NPA). Additionally, the families and survivors of apartheid-era gross human rights violations want the high court to declare that the conduct amounting to unlawfully abandoning or undermining these cases violated their rights to equality, dignity, and the right to life and…

The chairpersons of standing committee on public accounts and appropriations are confident that the 2025/26 Budget will be passed by Parliament by the end of next month. This after Finance Minister Enoch Godongwana tabled a revised budget on Wednesday after he withdrew the Revenue and Appropriations Bills last month in order to propose expenditure adjustments amid a court case by the DA and the EFF, as well as negotiations between the ANC and some of the smaller parties. Speaking during a media briefing by chairpersons of finance cluster committees, Scopa chairperson Songezo Zibi said part of the consultation by Godongwana with Government of National Unity leaders was to give a detailed presentation on what was in the Budget. “Unless something changes this morning, subject to the amendment that Parliament has…