Cape Times2025-07-08的目錄

A new customs duty has been slapped on vaping liquid, which will result in higher prices. On Friday the South African Revenue Service (SARS) introduced important amendments to the Customs and Excise Act, 1964, aimed at tightening the regulation of electronic cigarettes and vaping products. These changes, reflected in amendments to Schedule No. 1 (Parts 1 and 2A) and Schedule No. 6 (Part 1E), include the insertion of new tariff subheadings, the introduction of an excise duty on vaping liquid, and the implementation of new rebate provisions for defective or exported products. XA Global Trade Advisors explained that under the amended tariff structure, a new subheading, 8543.40.10, has been inserted to specifically classify vaping devices presented with vaping liquid, whether or not the liquid contains nicotine. The customs duty applicable…

The Banking Association South Africa (BASA) and five major lending banks have filed an application to appeal a recent order by the North Gauteng High Court in Pretoria, in a legal battle that could redefine consumer credit relationships. The court's declaratory order, handed down by a full bench on 12 May, affirmed that an application for debt review, or a debt review order, does not remedy the default status of the original credit agreement under section 103(5) of the National Credit Act (NCA). This section is pivotal for consumers as it caps the total interest, fees, and charges accruing on a defaulted credit agreement, thereby safeguarding borrowers from potential exploitation by lending entities. This ruling positions the notion of 'default' as permanently tied to the original credit agreement, irrespective of…

Debt experts and economists are gearing up for what could be a pivotal moment at the end of July as South Africa's monetary landscape evolves. The highly anticipated meeting of the Monetary Policy Committee (MPC) of the South African Reserve Bank (Sarb) may see a further reduction in interest rates, offering hope to beleaguered consumers grappling with escalating costs and economic uncertainty. Casey Sprake, economist at Anchor, on Monday said the interest rate outlook continued to tilt dovish, with markets now pricing in a 66% chance of another 25 basis points cut. “While the pace has been more gradual and staggered than initially anticipated—particularly following the last rate hike exactly two years ago—the Sarb's cautious approach has still delivered meaningful relief to highly indebted households,” she said. Sprake added that…

Last month, news broke about Kenya's KCB Group being on track to become the first foreign bank to secure entry into Ethiopia's newly liberalised financial sector. This represents a historic shift ending five decades of state control dating back to the 1974 Derg nationalisation. It's the kind of development that Bernard Laurendeau spent years laying critical groundwork for during his time embedded within Ethiopia's government machinery, though not all his efforts bore fruit. Government whispering After 15 years advising Fortune 50 clients (from Google and Cisco to UAE's Ministry of Finance), Laurendeau returned to Ethiopia in 2019 to serve as senior advisor to the jobs creation commission under the Prime Minister's office. The work wasn't always successful. For instance, a startup act he helped draft "never saw the light of…

Primary Health Properties (PHP), a leading investor in modern primary care facilities in the UK and Ireland, in a trading update released on Monday said improving rental growth and stabilisation in yields underpin valuation growth. For the six months to 30 June net rental income rose 3.1% to £78.6 million (R1.9 billion) with adjusted earnings per share up 2.3% to 3.54 pence. Dividends declared were 3.55 pence up 2.9%. PHP said it had continued to focus on delivering organic rental growth derived from its existing assets. This growth arises mainly from rent reviews and asset management projects with income increasing by £2.2m, or 1.4%, in the six-month period. The company generated an additional £2.1m of extra rental income from its rent review activities, both in the UK and in Ireland.…

The South African Medical Association is expressing concern about a significant increase in flu cases as winter's icy grip takes hold of South Africa. This seasonal increase has drawn significant attention to the influenza virus, its various types, symptoms, and the measures we can take to protect ourselves during the colder months. What is influenza? The National Institute of Communicable Diseases (NICD) defines influenza, commonly referred to as the flu, as an acute respiratory illness caused by an infection of the respiratory tract. The flu is not just a simple cold; it can lead to severe health complications, especially in vulnerable populations such as the elderly, young children, and those with pre-existing health conditions. Two primary types of influenza circulate among humans: Type A and Type B. Influenza A is…

The Civil 20 (C20) engagement process will prioritise pressing issues including inequality and unemployment affecting women and youth, gathering insights from grassroots communities ahead of the C20 summit, which will pave the way for the G20 summit in South Africa in November. This was highlighted during a Pretoria media briefing yesterday by the C20 South Africa leadership team, which gave an update on preparations to deliver the C20 policy pack before the G20 summit. C20 chairperson Thulani Tshefuta said: “We have taken a conscious decision of making this as the first South African G20 to be less about South Africa but more about Africa as a whole.” The C20, he said, has established structures representing various sectors, including women, disability, youth, health, and education, to shape the G20's processes and…

Belgian Tim Merlier pipped Italian Jonathan Milan at the line to win stage three of the Tour de France in Dunkirk on Monday, as Mathieu van der Poel retained the overall race lead. The flat 179km run from Valenciennes along the Belgian border was marked by a series of crashes, most notably one involving Jasper Philipsen, who was forced to withdraw with severe abrasions and a suspected fracture. The incident also saw him lose the green jersey he had earned by winning the opening day sprint. Travelling at 70kph, Philipsen slid across the tarmac in a nasty fall that highlighted the treacherous nature of the day’s racing. Three further crashes followed, including two in the closing kilometres. Olympic champion Remco Evenepoel — Merlier’s team-mate — was among those involved. “That…

President Trump announces additional tariffs on countries aligning with BRICS The rand weakened to its lowest in nearly two weeks against the major currencies on Monday as global risk was seen to have escalated following US President Donald Trump’s tariff threat. On Sunday, Trump announced an extension to the tariff deadline, pushing it to the beginning of August while imposing an additional 10% tariff with “no exceptions” on countries aligning with the policies of BRICS—a bloc of emerging economies comprising Brazil, Russia, India, China, and South Africa. Trump also reiterated previous warnings of imposing tariffs of up to 100% on BRICS nations should they abandon the US dollar in bilateral trade, and further warned other countries against joining the alliance. The expanded BRICS bloc now encompasses 11 countries, representing 43%…

President Donald Trump just launched a fragrance called Trump Victory 45 - 47, part of the "Fight Fight Fight Collection". The lid of the $249 (R4 427) bottle is a (obviously) gold statuette of Trump, tummy flat, shoulders back, looking like the Oscar for Best President in the World Ever. You get $100 off if you buy two. The President's fragrances, for there is one for boys, one for girls, is "For Patriots Who Never Back Down, Like President Trump. This Scent Is Your Rallying Cry In A Bottle. Featuring Trump’s Iconic Image And Raised Fist, This Limited-Edition Cologne Embodies Strength, Power, And Victory." And yes, the first letter of every word is capitalised. Since Trump took office, the Trump Store launched 168 new products, including clothing, hats, BBQ snacks,…

It’s been about two years since generative AI exploded onto the mass market and into the boardroom buzzword lexicon. What began as a curiosity has quickly snowballed into a business necessity. It might sound hyperbolic, but those who are not exploring how AI can support their businesses are already falling behind. But we’ve seen big tech ideas arrive, explode into the mass market and then quietly subside before. Remember when brands couldn’t launch NFTs and Metaverse activations fast enough? Generative AI has promised similar seismic change but unlike those other technologies, it is actually here to stay. It is powerful and it is changing the way businesses operate. Is it all it’s cracked up to be though? Not yet. What AI is doing well right now At Euphoria, we’ve been…

South32 plans to sell Cerro Matoso in Colombia to a subsidiary of the global mining, industrial, and financial group, CoreX Holding, for up to $100 million (R1.78 billion) but will take a $130m impairment. The global mining and metals company said Monday that the deal followed a review of its operations in response to structural changes in the nickel market. The transaction is expected to be finalised in late 2025. CoreX will take control of Cerro Matoso, including all liabilities, after paying up to $80m based on future production and nickel prices, and up to $20m in four equal payments based on milestones within the next five years for the Queresas & Porvenir North nickle exploration and development project. "The transaction is consistent with our strategy and will further streamline…

Old Mutual announced Monday that Prabashini Moodley has been appointed as its CEO of a newly configured Life & Savings segment, while Clarence Nethengwe, CEO of the to-be-launched OM Bank, has also been appointed to executive oversight of OM Finance and OM Transaction Services. The life assurance and financial services group said Moodley’s appointment was effective August 1, 2025. She will report directly to the group CEO, Jurie Strydom. The Life & Savings segment will consist of four business units: Personal Finance, Old Mutual Wealth Management, Old Mutual Corporate, and the Mass and Foundation Cluster (MFC) - excluding banking. The MDs of these business units will report to Moodley. The formation of the Life & Savings segment will enable more effective delivery to customers and intermediaries in South Africa and…

We’ve all heard the saying, “Jealousy makes you nasty,” but it can make you something far worse than that – you could be suffering from Othello syndrome (OS), a rare medical condition where you suspect your partner is cheating on you when there is no basis for it. One such sufferer is Debbi Wood, a woman dubbed “the UK’s most jealous wife” for forcing her husband to take lie detector tests to make sure he wasn’t cheating on her. Wood, 43, from Leicestershire, appeared on Channel 5’s 87 Stone: Fat Chance Of Work, where she spoke about the affliction where she would check her husband Steven’s e-mails, phone, bank statements and even banned him from watching television in case he was allured by a woman on the screen. Wood reportedly…

South African prisons have become hotspots for organised criminal syndicates who smuggle cell phones and other gadgets that are used to scam people and demand ransoms from the families of kidnapped victims. This comes as the National Commissioner of Correctional Services, Makgothi Samuel Thobakgale, led a specialised team in a targeted operation that uncovered an undisclosed number of cell phones and other gadgets, allegedly being used by inmates to commit crimes from behind bars at the Bavianspoort Correctional Centre in Pretoria. It is reported that a group of inmates at the facility, who were found with mobile phones, were actively scamming members of the public, resulting in the confiscation of several mobile phones and other contraband items. Department of Correctional Services (DCS) spokesperson, Singabakho Nxumalo said investigations have revealed that…

Another cold front is set to brush the Western Cape by tomorrow, bringing isolated rain over the southwestern coast and interior. South Africans can expect a mix of cool and cold conditions this week as winter’s grip strengthens across the country. According to the latest forecasts issued by the South African Weather Service, most regions will see stable and fine weather, but some areas will experience light showers and brisk winds. There are no severe weather warnings in place for today, with the national impact-based warning map indicating “NIL” across all provinces. However, rain is expected in parts of Limpopo and Mpumalanga, where the rainfall probability sits at 30%. Areas including Polokwane, Phalaborwa and Mbombela might see isolated showers, while parts of the northeastern coast near Richards Bay could also…

Wiaan Mulder broke numerous Test cricket records on Monday with an unbeaten 367 on Day 2 of the second Test between South Africa and Zimbabwe at Queens Sports Club in Bulawayo. The 27-year-old now holds several historic milestones: the highest score by a player in their first match as captain, the highest score by a player away from home, the highest ever score by a No 3 batter, the third-highest Test score by a captain, the best strike-rate for a triple century, the fifth-highest Test score in history, and the highest Test score by a South African. One of the records that appeared to hold personal meaning for Mulder — or perhaps even caused a twinge of regret — was surpassing Hashim Amla’s 311, which previously stood as the highest…

Novak Djokovic said it was “good to break the curse” in front of Roger Federer after coming from a set down to beat Alex de Minaur and reach his 16th Wimbledon quarter-final on Monday. Djokovic looked sluggish and unusually tentative in the early stages of his last-16 clash against the Australian 11th seed on Centre Court, but eventually found his rhythm to win 1-6, 6-4, 6-4, 6-4. The victory keeps the seven-time champion on course for a record-breaking 25th Grand Slam title — a feat that would crown his extraordinary career. If he wins the title on Sunday, the 38-year-old Serb would also equal Federer’s men’s record of eight Wimbledon crowns. The retired Swiss great was watching from the royal box as his long-time rival endured his toughest test of…

Transport Minister Barbara Creecy has unveiled a bold strategy aimed at improving South Africa's transport sector's freights and goods handling capacity and to transform the passenger, freight, and aviation sectors over the next four years. Speaking at the 2025 Southern African Transport Conference (SATC) in Pretoria on Monday, Creecy said the first target was to increase freight volume on the Transnet network to 250 million tons annually by 2029, a move that is expected to strengthen the backbone of South Africa's logistics framework. Addressing port efficiency, Creecy also said South Africa aimed to achieve an international operational benchmark of 30 gross crane movements per hour when loading and unloading vessels, a standard necessary for remaining competitive in global markets. “We need to achieve this standard to remain globally competitive,” Creecy…

In a fast-evolving world where markets, mandates and morals are shifting, organisations are being called to govern differently. The traditional rule-bound model of governance is increasingly insufficient in the face of systemic risks, stakeholder activism and digital disruption. As governance thinking evolves, new frameworks continue to emerge, each responding to the demand for purpose-driven, context-sensitive leadership. This proliferation of frameworks reflects the increasing complexity and diversity of modern governance challenges. The Committee of Sponsoring Organizations (COSO) draft Corporate Governance Framework (CGF), released in May 2025, exemplifies this shift, but its relevance to Africa hinges on aligning its structural approach with local realities. Developed with US public companies in mind and globally recognised for its work on internal controls, the framework nonetheless raises critical questions for governance communities worldwide. In contrast…

Today, access to the internet is as essential as electricity or running water. It’s how people find work, run a business, study, manage their money and stay connected to those they care about. Yet for too many South Africans, especially those living in rural or underserved communities, affordable, reliable internet remains out of reach. Terms like the digital divide are typically used to describe this phenomenon. But with such slogans, it’s easy to lose sight of the fact that this profound lack of access holds back individuals, small businesses, and our country’s economic potential. The internet is infrastructure If we’re serious about growing South Africa’s economy and supporting entrepreneurs at every level, we need to start seeing the internet for what it truly is: vital infrastructure. Just as roads connect…

The Vision Consortium that has taken over the rescue of Tongaat Hulett has been directed by the Durban High Court to provide documents and disclosures relating to the Vision Group’s acquisition of the former Lender Group claims and security. The Court issued this ruling on July 4, 2025, following an urgent application brought by RGS Group Holdings, a company that had once planned to submit its own business rescue plan for Southern Africa’s biggest sugar group, but then withdrew from the bidding process after the validity of its proof of funding was questioned. Tongaat Hulett said in a statement on Monday that the ruling was limited to disclosure and did not affect the implementation of the business rescue plan (BRP) or the integrity of the acquisition itself. Over the past…

The South African REIT sector experienced a modest pullback in June, declining by 1%, trailing both equities (+2.4%) and bonds (+2.3%) for the month, following a really strong April. However, analysts caution against interpreting the decline as a reversal in fundamentals, pointing instead to profit-taking in larger counters, following an extended period of outperformance. In April, South Africa’s REIT sector gained 6.9% and outperformed equities (4.3%) and bonds (0.8%), despite a disrupted trading month due to public holidays. “The June dip appears more technical and structural. Many of the more liquid stocks have delivered stellar returns over the past 18 months, so some rotation was inevitable, particularly in a month where global sentiment was otherwise risk-on,” said Ian Anderson, head of listed property and portfolio manager at Merchant West Investments,…

Cooperative Governance and Traditional Affairs (Cogta) Minister Velenkosini Hlabisa has warned municipalities to use disaster funds promptly and for their intended purposes and not to pay salaries or fund trips. He made these remarks during a briefing yesterday in Sandton where he provided information on the release of the funds following floods and heavy snowfall that occurred in KwaZulu-Natal, the Free State, and the severely affected Eastern Cape. A total of R1.255 billion has been allocated for the 2025/26 financial year with the funds to be released in phases. The bulk of the money, about R500 million will go to the Eastern Cape which suffered the most damage to infrastructure and homes. In KZN, R139 million in disaster relief grants have been allocated for 17 municipalities including the eThekwini Municipality,…

THE ANC has described the situation involving Police Minister Senzo Mchunu and KwaZulu-Natal police commissioner Nhlanhla Mkhwanazi as volatile. This comes after the top cop implicated Mchunu in a criminal syndicate. Speaking in response to the public fallout triggered by Mkhwanazi’s bombshell press briefing on Sunday, ANC secretary-general, Fikile Mbalula, said the party would defer to President Cyril Ramaphosa to handle the matter “responsibly and without delay,” warning that the issues raised border on state security and require calm, not chaos. “We have got a Head of State, we have got a President—he must attend to these matters,” Mbalula said. “As the ANC, we defer to the President to address the issues Mkhwanazi has raised. These are serious matters, and they must be handled carefully and decisively.” Mkhwanazi has claimed…

While recognising that horse racing is a long-standing tradition for many, the NSPCA has called for urgent reforms to protect the welfare of the horses involved, particularly those on the racing circuit who fall under the care of the National Horse Racing Authority (NHRA). Coinciding with the glamorous Durban July race day, the NSPCA launched “Rein in the Pain”, a national campaign to raise awareness about the suffering racehorses endure in the name of sport and spectacle. “We understand the legacy tied to this sport, but tradition cannot be used to excuse ongoing cruelty,” NSPCA spokesperson Jacques Peacock said. “These magnificent animals are being silenced by a system that too often places profit above their welfare. Window-dressing measures and paltry fines may create the illusion of progress, but they do…

Eastern Cape Judge President Selby Mbenenge said the claims by a judge’s secretary that he tried to solicit oral sex from her in chambers never happened, and that the allegations are malicious and hurtful. Judge Mbenenge took the stand yesterday in the Judicial Conduct Tribunal’s sexual harassment probe against him. Judge’s secretary Andiswa Mengo claimed that Judge Mbenenge had made unwanted sexual advances towards her. These include that on either November 14 or 15, 2022, he called her into his office and tried to solicit oral sex from her by attempting to open the zip of his pants. Mbenenge said that he hoped that he did not need to answer to these allegations, as they were all lies and never happened. He said that if proper investigations were done by…

He moved like a predator in tall grass, striking only when the odds were perfect David Dabede ‘DD’ Mabuza passed away in Johannesburg on July 3, 2025, at the age of 64. Quiet yet formidable, Mabuza’s journey from rural Mpumalanga to national power was as improbable as it was compelling. Mabuza’s political career was one of remarkable resilience, calculated manoeuvring, and a reputation for feline-like cunning that earned him the nickname ‘The Cat’. Through shrewd calculations, alliance-building, and opportunistic shifts, he not only secured provincial supremacy but also played a decisive role in the national political realignment that led to Cyril Ramaphosa’s rise to presidency in 2017. Mabuza’s political life began in earnest after his years as a teacher and school principal. Having served in the South African Democratic Teachers’…

The tragic passing of star Liverpool forward Diogo Jota has been a stark reminder of how we often perceive our sporting idols as objects, not people. It took a conversation with Liverpool legend Michael Owen to prick my conscience. Asked what the potential implications of Jota’s death alongside his brother André Silva were to Liverpool, Owen chose instead to focus on what it meant to those closest to him. He chose to focus on the pain felt by those mourning the loss of a father, son and husband — of a mother who has just lost two sons. And he has a point. No matter how many songs Reds fans sing in his honour next season, or what grand gestures are planned in the 20th minute of matches to pay…