Cape Times2025-06-20的目錄

Moody's Ratings has warned that Transnet's ratings will remain under review for downgrade until the South African government completes the process to allocate additional guarantees by the end of July. This comes after the government announced on Thursday last week that it had entered a process to allocate additional guarantees to allow the State-owned freight and logistics company to cover at least all debt redemptions over the next five years and enable it to fund its capital expenditure program. The Minister of Transport, with the concurrence of the Minister of Finance, approved a R51 billion guarantee facility for Transnet’s capital investment programme and debt obligations. The facility will enable Transnet to refinance maturing debt and ensure the organisation’s continued access to adequate resources and facilities to be able to continue…

Reserve Bank identifies climate change as one of three major threats to the stability of SA The South African Reserve Bank (Sarb) has issued a stern warning regarding the perpetual risks that climate change poses to the financial sector. In its latest Financial Stability Review (FSR) published on Thursday, the Sarb identified climate change as one of three major threats to the financial stability of the nation, alongside the looming spectre of cyber incidents and persistently low economic growth. In the review, the Sarb highlighted a growing consensus within academic and regulatory literature that climate change introduces two primary types of risks: physical risks and transition risks. Physical risks are defined as the economic losses stemming from the increasing frequency and intensity of adverse weather events, such as floods, droughts,…

Google suffered a legal blow at the European Court of Justice on Thursday, when the body's adviser recommended upholding a record fine imposed on the company for anti-competitive practices. The US tech giant has been trying to overturn on appeal a €4.3 billion (R89bn) fine imposed by the European Commission in 2018, which was later reduced to €4.1bn. But in its opinion, Juliane Kokott, advocate general at the Court of Justice of the European Union (CJEU), said "the legal arguments put forward by Google are ineffective", the court later said in a statement. Although not binding, such advice carries weight and is often followed by EU judges in their rulings. The commission, the EU's antitrust regulator, had accused Google of abusing the popularity of its Android operating system to restrict…

Trusts are versatile estate planning tools that can be tailored to suit your specific objectives, assets, beneficiaries, and planning horizon. Whether preserving wealth, protecting vulnerable heirs, or managing taxes, trusts offer unique advantages. This article explores five effective ways to use a trust as part of your estate plan. 1. Safeguarding the inheritance of minor children South African law limits the contractual capacity of minors, which creates complications when leaving assets directly to children under the age of 18. Where a minor is nominated as a beneficiary—for example, on a life insurance policy—those funds will be administered by the Guardian’s Fund until the child reaches adulthood. Accessing these funds can be cumbersome and subject to administrative limitations, including capped annual withdrawals and approval by the Master of the High…

The International Monetary Fund (IMF) has delivered a cautiously optimistic assessment of Zimbabwe’s economy, suggesting that it was stabilising despite ongoing policy and monetary challenges that have historically plagued the nation. South Africa’s northern neighbor has long struggled for stability, with consumers and companies hard done by policy inconsistency that has distorted pricing. South African companies in Zimbabwe include platinum group metals producers Impala Platinum and Sibanye-Stillwater, Pick 'n Pay and Old Mutual, among others. The IMF this week said Zimbabwe was now “experiencing a degree of macroeconomic stability despite lingering policy challenges” after emerging out of “successive bouts of hyperinflation” over the past few years. Zimbabwe yearns to return to a single local currency regime by 2030 and the IMF has been supportive of the Zimbabwe Gold (ZiG) local…

PRESSURE is mounting on Stellenbosch University (SU) to suspend all collaboration with Israeli universities where there was a risk of direct or indirect involvement in human rights violations in the Occupied Palestinian Territories. In a statement signed by 214 academics, the group noted that this had been a step taken by “other respected universities, including recently the Erasmus University Rotterdam (EUR)”. “We agree with Annelien Bredenoord, President of the EUR Executive Board when she says that academic collaborations are normally based on academic freedom, but ‘that freedom has limits when fundamental human rights are at stake’. We urge Stellenbosch University’s leadership to officially and unequivocally add the university’s voice to this world-wide call. We believe that future generations will judge our university and its leadership harshly if it does not…

SOUTH Africa’s housing challenges, while immense, are far from unique. Across the globe nations grapple with providing shelter for growing populations with limited urban land and resources. Looking outward offers both humbling and heartening perspectives. For instance, in India, a country with a population twenty times larger and urban slums on a scale that dwarfs ours. The infamous Dharavi slum in Mumbai houses perhaps a million people in two congested square kilometres. India’s constitution does not explicitly guarantee a right to housing, but its Supreme Court has interpreted the right to life to include a “right to shelter”. Decades ago, Indian courts began insisting that evictions of long-settled slum dwellers without rehabilitation violate fundamental rights. This judicial philosophy mirrors South Africa’s in spirit - acknowledging that people need a roof…

THROUGHOUT the Proteas’ two-year cycle, including heading into the World Test Championship final, the batting unit came under intense criticism and comparison. Many looked at Australia’s batting unit and identified their experience, including that of Steve Smith, Usman Khawaja and Travis Head – who are some of the best in the world – and compared that to South Africa’s young line-up. There were questions and doubts on the unit’s ability to hold their ground against a strong Australia attack, forgetting the centuries that the batters have scored throughout the cycle, be it here at home in South Africa or away from home. Proteas batting coach Ashwell Prince commented on the batters’ potential upon arriving in South Africa this week, and told the media that they are yet to reach their…

Shubman Gill will be in the spotlight as a new-look India, without star batsmen Virat Kohli and Rohit Sharma, bid to end their 18-year wait for a Test series win in England. Gill succeeded Rohit as captain after the latter announced his retirement from Test cricket last month. Just days later, Kohli said he was bowing out of red-ball internationals as well. Gill also has the additional responsibility of filling Kohli’s shoes at No 4 in the batting order. India vice-captain Rishabh Pant on Wednesday revealed that was where his new skipper would bat in the first of a five-Test series against England starting at Headingley today. The 25-year-old Gill has a modest Test batting average of 35 in 32 matches, a figure that drops to 29 in away games,…

Teams built on unyielding defence often find the sweetest victories, proving that the fewest goals conceded translate into the most valuable points. South African football has been graced by a remarkable blend of emerging young stars and battle-hardened veterans, each rising to the occasion this past season. Together, they’ve formed the backbone of their teams, standing resolute as the last line of defence. After a season fraught with fierce battles and narrow margins, we turn our attention to five defenders whose performances have shone brightest to have earned their place in the conversation for the Premier Soccer League Defender of the Year... Nkosinathi Sibisi – Orlando Pirates The Orlando Pirates defender stood as a steadfast pillar in the Buccaneers’ backline, playing a crucial role in what became one of their…

Trade union Cosatu on Wednesday lauded the Public Investment Corporation (PIC) for surpassing R3 trillion in assets under management, marking what it described as a historic milestone for the continent’s biggest investment fund. The PIC, which primarily manages assets on behalf of the Government Employees’ Pension Fund (GEPF), has seen significant growth from R2.7trl a year ago and R1.8trl during the Covid-19 pandemic. Roughly 87% of the PIC’s funds are sourced from the GEPF, with additional contributions from the Unemployment Insurance Fund (UIF) and the Compensation Fund, among others. "It is sacrosanct that at all times the PIC invests and manages these funds, workers’ hard-earned monies, in a manner that expands and enables them to fulfill their legislative mandates of allowing public servants to retire in security and comfort, to…

Welcome to Prosper Nation, a weekly column dedicated to reshaping the narrative about South Africa’s potential - and charting a new path to sustainable prosperity. This platform is born out of a belief that our greatest national resource is not mineral wealth or coastal beauty but our people and our untapped collective ambition. Each week, I will unpack the ideas, strategies, and stories that hold the power to turn South Africa into one of the Top 10 most prosperous nations on earth. Why Prosper Nation and Why Now? South Africa is brimming with potential. Yet we stand at a crossroads: high youth unemployment, structural inequality, and political fatigue have made many South Africans lose faith in our collective future. But I’ve seen what’s possible when belief is restored. In 2010,…

Poultry product producers and agriculture associations have welcomed the news by the Department of Agriculture that it has partially lifted the ban on imports of poultry and poultry products from Brazil from Thursday. The ban was imposed due to an outbreak of Avian flu in Brazil. The Department of Agriculture has since said that the ban has been contained to one state in Brazil. Minister of Agriculture John Steenhuisen announced that South Africa will partially lift the suspension on imports of all poultry and poultry products from Brazil, effective on Thursday. “This decision follows the receipt of a second report from Brazil’s Ministry of Agriculture and Livestock, confirming that the outbreak has been contained to a single state,” Steenhuisen said. “However, this partial lifting remains conditional and may be revoked…

Growing up, many of us received sound advice from our parents: study hard, set goals, and take care of your health and money. This advice serves us well, but when it comes to our money, some more detail and some less conventional truths can go a long way towards a brighter financial future. Here are some insights to help reshape your financial perspective: Not all debt is bad. The word debt often carries a negative connotation, but not all debt is ‘bad’. Before borrowing any money, it is critical to understand the difference between ‘good’ and ‘bad’ debt. For instance, taking out a student loan can be an investment in your future, but paying off unnecessary, high-interest credit card debt can hinder your financial progress. How you manage your debt,…

Standard Bank Group on Thursday said its earnings for the five months to May 31, 2025 rose 10% year-on-year in rand terms, supported by a resilient performance across its African operations despite a challenging global and domestic macroeconomic environment. "Standard Bank group's operational and financial trends were strong, reflective of the continued momentum in the underlying transactional franchise across both South Africa and Africa Regions. Despite the considerable uncertainty and market volatility, the group's established and well diversified franchise continued to deliver a resilient performance," it said in a voluntary trading update. Africa’s largest lender by assets said group headline earnings rose at a similar pace as in the first quarter. On a constant currency basis, headline earnings increased in the mid-teens compared with the same period last year. Return…

MORE than 400 schools and 1400 classrooms have been damaged in the recent floods which devastated large parts of the Eastern Cape. The floods have claimed the lives of 92 people, affecting more than 4 300 people, according to Eastern Cape Premier Oscar Mabuyane. He said 48341 learners were also affected following the damage in 413 schools. In his keynote address during the provincial day of mourning in Mthatha yesterday, Mabuyane said significant progress had been made in the restoration of critical infrastructure, particularly water supply systems. Full restoration is anticipated across all affected areas today. Authorities had been criticised by community members for its slow disaster response. Mabuyane said the latest events were a lesson. “There are many lessons we must all learn from this kind of…

THE 19% enrolment growth in public schools between 2015 and 2024 placed pressure on school infrastructure and staffing resources, says the Western Cape Education Department (WCED). To address the demand driven partly by in-migration from other provinces, the WCED said it was ramping up infrastructure investment. Speaking during a meeting of the Provincial Parliament’s Standing Committee on Education this week, WCED officials said the province recorded a 2.3% average increase of enrolment in public schools annually. The department currently serves more than 1.3 million learners across 1,887 schools. In response to infrastructure demand, the WCED has launched its Rapid School Build Programme, with a hope to deliver 26 new school projects over the next three years. According to the department, a further 290 new classrooms and 21 Grade R…

WHEN Aiden Markram walked in to open the batting alongside Dean Elgar in Potchefstroom almost a decade ago, there had been a lot said about his potential, with many dubbing him the next Graeme Smith. After all, Markram had led the South African Under-19s to World Cup glory a few years prior, and sent the country into a state of happiness. On that day in Potchefstroom, Markram’s 97 on debut further gave the country hope that it had found its next run machine, one that could potentially reach the heights that Smith achieved in his career. For the next couple of years, he would prove himself against India and Australia at home, bringing up big centuries as he solidified his place as a Test-match opener. However, a couple of years…

Thembinkosi Lorch continued his resurgence with another eye-catching display for Wydad Athletic Club, even as the Moroccan giants fell 2-0 to Manchester City in their opening Fifa Club World Cup fixture on Wednesday night. Facing the former English champions in their group-stage opener, Wydad were always in for a tough night, but the 31-year-old South African winger emerged as one of the few bright sparks in an otherwise frustrating outing. The former Orlando Pirates star looked lively from the outset, offering an attacking threat both wide and on the inside, and remained one of Wydad’s more consistent outlets throughout the 90 minutes. The result leaves Wydad with plenty to do in their remaining group-stage fixture if they are to keep their tournament hopes alive, but Lorch’s individual performance gave South…

Cape Town City will need to dig deep in their final two fixtures to secure their place in the Premiership for next season. Their hopes of claiming a first win in the Premier Soccer League promotion/relegation playoffs were cruelly dashed in the dying minutes of their clash against Casric Stars at the Solomon Mahlangu Stadium in Mpumalanga on Wednesday. Now, heading into the last two matches of the mini-league, City find themselves in a pressure-filled situation where at least one victory is vital to maintain their top-flight status. The Citizens took the lead in the first half through a goal from Prins Tjiueza, but after Casric Stars fought back, Sphamandla Mlilo calmly converted from the penalty spot to earn the hosts a share of the spoils. City assistant coach Roger…

Manufacturing business confidence dipped in the second quarter amid domestic and global uncertainty. This was revealed in the second quarter 2025 Absa Manufacturing Survey. Business confidence declined marginally to 33 points, down from 34 in quarter one, an outcome some noted could have been significantly worse given prevailing conditions. The manufacturing survey was conducted by the Bureau for Economic Research (BER) drawing insights from approximately 700 manufacturing businesses. Economists have echoed similar sentiments. The confidence index ranges from 0 (no confidence) to 100 (extreme confidence). Absa said domestically, manufacturers also faced several challenges. These included subdued product demand, rising electricity tariffs and water supply disruptions – particularly in Gauteng, compounding to the sector’s strain. Sachin Chanderdhev, a sector specialist for the Manufacturing Sector at Absa Business Banking said…

South African markets traded on the backfoot on Thursday on the back of geopolitical risks arising from the war in the Middle East and the US Federal Reserve (Fed) revised down its growth forecasts for the US. The rand fell 0.6% to R18.12 against the US dollar during early morning trade but still remained above the R18-mark by late afternoon while the JSE All Share Index eased by 0.2% to 94 785 points. The markets have remained on edge across the world as the war between Israel and Iran has intensified, pushing global oil prices to their highest in four months. An Iranian missile barrage left at least 240 people wounded as they struck several sites across Israel, damaging a hospital in the country’s south while targeting a military site.…

We all want our kids to be financially savvy, but if we wait until they are old enough to learn to save for themselves, we rob them of the most important years of growth. It’s tempting for parents to think, “They’ll start saving when they start earning,” or “It’s not worth it unless I can contribute big amounts,” but this mindset overlooks the most valuable asset in wealth-building, and the one advantage your kids have today – time. The magic of compounding: Why starting early matters One of the most powerful wealth-building tools at your disposal isn’t necessarily the amount you invest – it’s the time you give your money to grow. Thanks to the magic of compound growth, even modest investments can snowball into substantial sums over decades. For…

South African food producer Libstar Holdings said on Thursday its revenue rose 10.1% in the 21-week period to May 30, 2025, boosted by strong volume growth across both its Ambient and Perishable product categories. The shares rose 8.12% to R3.33 in morning trade on the JSE on Thursday. This as consumers remain under pressure despite moderating inflation and lower interest rates. "Import and export supply chain volatility persisted, evidenced by extended import lead times and intermittent delays in securing export container availability. Against this backdrop, Libstar's category and channel revenue growth exceeded market growth during the five-month period ended 30 May 2025," Libstar said. Libstar, with brands including Cape Herb & Spice, Lancewood, Cook 'n Bake, and Roma, said volumes increased 5.2%, with price and mix changes contributing a further…

Africa-focused crypto payments firm Yellow Card has partnered with global payments giant Visa to accelerate the adoption of stablecoins in cross-border transactions across emerging markets, the companies said on Thursday. Yellow Card, a licensed stablecoin payments platform operating in more than 20 African countries, said the collaboration will explore new use cases for stablecoins in treasury operations, liquidity management, and international remittances. The partnership is part of a broader push to modernise financial infrastructure in regions with limited access to traditional banking systems. “Traditional payment companies continue to question not ‘if’ they need a stablecoin strategy, but how quickly they can deploy one,” said Chris Maurice, the CEO and co-founder of Yellow Card. “We are thrilled to partner with Visa to help realise the potential of stablecoin technology in emerging…

mayibongwe.maqhina@inl.co.za ESKOM employees pocketed R3 billion in overtime during the 2023/24 financial year. This was for work outside the normal working hours that was approved for an emergency during a standby period, breakdown of plant, pre-arranged plant maintenance, commissioning of plant, authorised construction work on site or critical personnel shortages only for short periods not exceeding one month, among other things. “Approximately 92% of the workforce is eligible for overtime,” said Electricity and Energy Minister Kgosientsho Ramokgopa. He was responding to parliamentary questions from EFF MP Mandla Shikwambana, who enquired about the annual expenditure on overtime for Eskom employees and the circumstances under which overtime was paid. Shikwambana also wanted to know whether the 22 board meetings, averaging two meetings per month, as reported in the 2024 annual report, were…

FORMER uMkhonto weSizwe Party (MKP) secretary-general Floyd Shivambu will remain a member of the Jacob Zuma-led party despite his intention of forming a new political party. "I'm saying that we are going to consult with the people of South Africa and if uMkhonto weSizwe believes that going to listen to people violates that constitution then it will tell me that." His stance appears to mirror Zuma’s move when he refused to terminate his ANC membership after he had announced that he would be leading the MK Party. Shivambu told a media briefing in Johannesburg that his removal from his position was due to a fake intelligence report claiming he wanted to overthrow Zuma. According to Shivambu, the fake intelligence report alleged that he was accumulating supernatural powers to make…

Manchester City coach Pep Guardiola hailed the impact of the new signings who came straight into the team for the 2-0 win over Wydad Casablanca in their opening match at the Club World Cup on Wednesday. Dutch midfielder Tijjani Reijnders and France attacking midfielder Rayan Cherki both started the game on a hot afternoon at Lincoln Financial Field in Philadelphia after joining in the run-up to the tournament from AC Milan and Lyon respectively. “He is a really, really good player. You feel it, you smell it. The pace, in the final third, with the ball, when he will get a little bit more rhythm, he will be top,” Guardiola said of Reijnders, 26, who played the whole game in sapping conditions. Brought in to help fill the huge void…

Proteas Women big hitting all-rounder Annerie ‘Big Dawg’ Dercksen looked eager to sink her teeth a little into the West Indies in the upcoming T20 series. Dercksen is coming off a somewhat dull ODI series, having not enjoyed the same level of success with the bat as she did in Sri Lanka. But the conditions in the Caribbean were something different entirely, and so too, the situations she batted in. Dercksen scored her maiden century against Sri Lanka in the final game of the tri-series last month, but said she had to play a more high-risk style of batting against the Windies. Regardless, the Proteas claimed the ODI series 2-1, with a comfortable 166-run victory via the DLS method in the deciding match this week. The 24-year-old’s bowling has been…