Cape Times2025-07-15的目錄

Former Absa board member Sipho Pityana is bracing for another bruising battle with the bank as well as the South African Reserve Bank (Sarb) in the court of law in his fight for reform in the banking sector. This comes as Absa and the Sarb’s Prudential Authority (PA) both filed applications for leave to appeal the Pretoria High Court ruling last month that vindicated Pityana in his claim that the PA broke the law in interfering with his possible nomination as Absa chair in 2021. The PA controversially consulted with third parties regarding his suitability for the chairperson role, particularly following inquiries into his resignation from AngloGold Ashanti amid allegations of sexual harassment - claims he firmly denies. The court found that the PA acted unlawfully by adopting an informal…

The European Commission on Monday said it was putting forward a new list of US goods worth €72 billion (R1.5 trillion) that could be targeted by EU levies if tariff talks with Washington fail. The bloc's trade chief, Commissioner Maros Sefcovic, announced the proposal, "accounting for some €72 billion ' worth of US imports", at a meeting with EU ministers in Brussels. The move came after US President Donald Trump threw months of painstaking negotiations with the EU into disarray by threatening to impose tariffs of 30% on the bloc's goods if there is no deal by August 1. EU trade ministers agreed they were still keen to secure an agreement with Washington before that deadline to head off the damaging duties. But at the same time Brussels is moving…

In governance, few terms provoke as much unease as "conflict of interest". It conjures images of overt corruption, self-dealing and backroom deals. Yet in many boardrooms, the more dangerous form is covert and subtle. It emerges not through criminality but convenience, not through law-breaking but ethical lapses that thrive in silence and passivity. These are the conflicts that live in the grey zone. We often associate conflicts of interest with clear-cut wrongdoing: a director awarding a tender to their own company, a regulator sitting on a board they’re meant to oversee. But many conflicts are more nuanced. They live in assumptions we don’t question, relationships we don’t declare, and benefits we don’t probe. Often, they hide in plain sight: in annual declaration forms submitted as routine or meeting registers listing…

“It’s the most humbling thing I’ve ever seen . . . their cost, their quality of their vehicles is far superior to what I see in the West. We are in a global competition with China, and it’s not just EVs. And if we lose this, we do not have a future at Ford.” This was an admission, by Ford’s CEO Jim Farley at Aspen Ideas Festival, that Chinese cars are now better in terms of technology. I’ve been sitting on a fence when it comes to the quality of technology between cars developed in China, Germany and the US. This admission by the Ford CEO has inspired me to even look closer. At FastCompany (SA) magazine we have started to look at cars from a tech point of view…

Bitcoin surged past the key $123 000 (R2.2 million) per coin mark on Monday morning, hitting a new milestone and doubling its value over the past year. Nigel Green, the CEO of global financial coal advisory giant deVere Group, said Bitcoin is on track to reach $125 000 in the coming days and predicts support from US President Donald Trump, sweeping regulatory moves in Washington, and accelerating institutional demand converge to drive the cryptocurrency’s price to new highs. “Bitcoin has blasted through $122 000, and all the indicators point to $125 000 in sight this week,” said Green. “It’s being powered by deep political backing, new regulatory clarity, and sustained institutional inflows. This is a powerful combination we haven’t seen at this scale before.” Bitcoin’s gains follow a flurry of…

The NPA yesterday asked the Eastern Cape High Court, sitting in Gqeberha, to clarify its judgment in which Nigerian pastor and televangelist Timothy Omotoso and his co-accused were acquitted of 30 charges, including rape and human trafficking. Judge Irma Schoeman, who acquitted the accused as she found that the State did not prove its case beyond a reasonable doubt, was told by the prosecuting authority that it was not clear on which facts her acquittal was based. She was told that the NPA needed to be clear as it must base its appeal to the Supreme Court of Appeal on questions of law under the Criminal Procedure Act, which arose during the trial. This is the only basis on which the State can appeal the judgment under South African law.…

THE Acting Chief Master (ACM) will be visiting the Cape Town Master’s office in the coming week to personally consult with staff and assess the work environment. The Department of Justice and Constitutional Development (DOJ) said they had received 36 formal grievances from employees and were looking into them. The Public Servants Association (PSA) recently picketed outside the Cape Town Master's office following complaints from employees over a number of grievances, including staff shortages and a “toxic work environment” among others. “One of the most pressing concerns is a severe staff shortage. The office is significantly understaffed, with vacancies not being filled. This is in stark contrast to other major provinces, yet staff members are expected to meet the same performance standards and workload turn around as if the Office…

Police have not ruled out the possibility of more arrests as their investigation continues into the tragic murder of 11-year-old Jayden-Lee Meek. This comes as Tiffany Nicole Meek, the 31-year-old mother of Jayden-Lee, appeared in the Roodepoort Magistrate’s Court yesterday on charges of murder, crimen injuria, and defeating the ends of justice following her arrest on Friday. Meek, who told the court that she intends to appoint a new attorney after her initial legal representative failed to appear, is set to return to court for her bail application on Friday. She remains in custody. Deputy Minister of Police Dr Polly Boshielo and Deputy Police Commissioner Tebello Mosikili joined scores of community members outside the court. Boshielo said police are treating the murder of Jayden-Lee with the utmost seriousness, deploying all…

We need protection. We need justice. We need change. Last Sunday, Lieutenant General Nhlanhla Mkhwanazi shook the country when he stood before the media and highlighted the existence of criminal syndicates operating inside our law enforcement structures. He demonstrated that optics matter. What followed from the Union Buildings was a response that felt too calm, given the moment’s urgency. President Cyril Ramaphosa’s address to the nation a week later was measured and careful. He announced the formation of a judicial commission to investigate the infiltration of law enforcement and the wider criminal justice system. He placed Minister Senzo Mchunu on leave. And he promised accountability. For millions of South Africans who live under the rule of fear, violence, and economic desperation every day, this announcement has to become more than…

Ben Healy became the first Irishman since Stephen Roche in 1987 to take the overall lead at the Tour de France on Monday, delivering a relentless ride over eight gruelling climbs in the Massif Central. The 24-year-old EF Education-EasyPost rider had already claimed stage six in Normandy, but on this occasion the ever-smiling Healy confirmed his promise with a career-defining effort to seize the fabled maillot jaune. He becomes only the fourth Irishman to wear the yellow jersey, following in the footsteps of Shay Elliott (1963), Sean Kelly (1983), and Roche, who famously won the Tour 38 years ago. Healy’s performance even eclipsed that of stage winner Simon Yates, who tracked him throughout the day as they crossed the dramatic ancient volcanic landscapes of the region. Such was the Irishman’s…

On March 31 Amsa said that it had received a R1.68 billion funding facility from the IDC ArcelorMittal South Africa (Amsa), which continues to pay heavy prices for government infrastructure and policy failures, may be left with no option but to prepare for the wind down process of its Longs Business, well in advance of September 30, 2025. This announcement, and despite a forecast of slightly reduced headline earnings losses for the six months to June 30, caused the share price to slump 7.89% to 105 cents on the JSE by Monday afternoon - considering that three years ago the price traded above R5 a share. On March 31, Amsa announced its decision to wind down the Long Steel Business had been deferred for at least 6 months to September…

The G20 Finance and Central Bank Deputies meeting on Monday outlined how the upcoming discussions will revolve around enabling a conducive environment for constructive dialogue on pivotal global trade issues. This comes as the United States, the world's largest economy, has created uncertainty across global trade by imposing hefty reciprocal import tariffs on its trading partners, including emerging economies whose size pales in comparison to the US. Dr Rashad Cassim, deputy governor of the South African Reserve Bank, said the World Trade Organisation was the global institution that has been working for decades to create fairness in the global trading system. However, Cassim said the G20 has a broader mandate than the world trade system. "So, the challenge we're going to face at this meeting is really having a…

In the context of high global uncertainty, tighter global financial conditions, and rising borrowing costs, concerns about sub-Saharan Africa’s debt vulnerabilities are mounting. But the region is tackling this issue head-on and public debt ratios have stabilized on average. Our analytical note in the IMF’s latest Regional Economic Outlook for sub-Saharan Africa uses a new data set to highlight when, how often, to what extent, and how debt stabilization was achieved. Surprising frequency Contrary to perception, countries in the region have often been able to stabilize or reduce their debt ratios without debt restructuring. With more than 60 debt reduction episodes (defined as periods of two or more years during which the public debt-to-GDP ratio fell), the probability that a country will experience such an episode in any given year…

When during an African Tech Roundup Podcast chat I suggest Paratus Namibia's 5G ambitions might threaten mobile carriers, managing director Andrew Hall doesn't deflect. He grins. "Connectivity is a commodity, prices are going down, you need to make up for that revenue in other spaces," he states plainly with a chuckle. After over 22 years building networks across Namibia, Hall's experience has led him to conclude that long-term commercial sustainability requires poaching customers from adjacent industries. His fibre company wants mobile subscribers. Banks want payment customers. Mobile operators want banking clients. The territorial boundaries that once defined the telecoms industry are collapsing. Namibian market lab Namibia offers a singular testing ground for this theory. With vast distances between sparse population centres, conventional infrastructure economics barely function. At 825 000 square…

South32 will report an impairment from its Mozal Aluminium Smelter in Mozambique due to a inability to negotiate a new electricity agreement over a six-year period. The announcement appeared to send South32’s share price reeling on Monday, with its price down by 5.8% to R34.42. A year ago, the share was trading at R44.75. South32 said in a statement on Monday that its production guidance from the plant was under review, and an associated impairment expense would be recognised in the 2025 financial results. Electricity is supplied to Mozal under an agreement that expires in March 2026. Historically, the majority of electricity for Mozal has been generated in Mozambique by the hydro-electric power generator, Hidroeléctrica de Cahora Bassa (HCB), owned by the Mozambique government. Under the agreement, electricity from Eskom…

Even though we cherish those long school holidays, sometimes as parents we secretly count down the days until routines return. Holidays can be magical, but the reality is they’re not always a break for us adults. The pressure to keep kids happy, stimulated, and not glued to screens can feel like a full-time job, one that comes without sick leave. But here’s the good news: it’s possible to keep kids engaged, curious and thriving without over-scheduling every moment or burning yourself out. And you don’t need a massive budget, Pinterest-worthy crafts, or a live-in nanny to make it work. Here’s your guide to surviving (and even enjoying) the school holidays sanity intact. 1. Start with self-care, it’s not selfish, it’s survival No one can pour from an empty cup. The…

Although money is essential for political participation, non-transparent funding could allow affluent vested interests to exert undue, disproportionate, or even criminal influence on politics and policymaking. Global anti-corruption organisation Transparency International (TI) revealed this in its Standards for Integrity in Political Finance publication. The standards are a holistic set of measures that describe the effort needed to mitigate corruption risks and promote the integrity of, at a minimum, the financing of national-level political parties and election campaigns. Political parties and candidates require financial and other resources to organise themselves, formulate their ideas, and communicate them to the public. However, according to Transparency International, unchecked or opaque funding can allow affluent vested interests to exert undue, or even criminal influence on politics and policymaking. This lack of transparency and controls could…

INCOMING acting police minister Professor Firoz Cachalia says the focus will be on the effectiveness of the police in dealing with crime, particularly those that have a strong impact on communities. “I’m still wrapping my head around what the priorities need to be,” he said yesterday, a day after President Cyril Ramaphosa appointed him to hold the fort in place of Senzo Mchunu. Mchunu will be taking a leave of absence from his official duties following serious allegations against him by the KwaZulu-Natal Provincial Commissioner of the South African Police Service (SAPS), Lieutenant General Nhlanhla Mkhwanazi. Mkhwanazi accused Mchunu and Deputy National Commissioner for Crime Detection Lieutenant General Shadrack Sibiya of corruption, political interference, and being involved in a drug cartel. Central to the controversy is the disbandment of the…

A Dutch national with permanent residency in the country has been convicted and sentenced for fraud in the Bellville Commercial Crimes Court. Martin Lennard Korver, 59, from Plettenberg Bay, was convicted of fraud in the amount of R6.8 million and theft in the amount of R4 million. The total amount of loss was R10.9 million. He entered into a plea and sentencing agreement with the State, where he confessed to his crimes. The complainants in his case were Gustav Schaefer and Jan Eberhard Schliemann, directors of Cobow (Pty) Ltd and Korevest Investments Group (Pty) Ltd, based in Somerset West. Korevest Investments Group (Pty) Ltd is a 100% shareholder in Cobow (Pty) Ltd, and the latter conducts the business of a guesthouse in Somerset West. The court heard Korver was a…

Jannik Sinner, long seen as the quiet force in men’s tennis, made the loudest statement of his career on Sunday — winning his first Wimbledon title with a 4-6, 6-4, 6-4, 6-4 victory over Carlos Alcaraz. In defeating his Spanish rival on the sport’s most storied stage, Sinner claimed his fourth Grand Slam at just 23, continuing a remarkable ascent that has already reshaped the post–Big Three era of men’s tennis. Between them, Sinner and Alcaraz have now won seven of the past eight Majors, firmly establishing themselves as the sport’s new standard bearers. While Alcaraz dazzles with flamboyant flair and high-risk shot-making, Sinner’s game is built on clinical precision and baseline power — drawing comparisons to Novak Djokovic in both temperament and technique. His calm demeanour on court is…

The Department of Agriculture has confirmed a new outbreak of Foot and Mouth Disease (FMD) at a commercial farm located in Moqhaka Local Municipality, part of the Kroonstad State Veterinary area in the Free State. The situation arises as the region battles against a series of ongoing outbreaks across the country. On 10 July, authorities confirmed the outbreak, which led to the immediate placement of the affected farm under quarantine. The department on Monday said stringent control measures have been implemented, including enhanced surveillance and vaccination exercises to curb any potential spread of the disease, in response to the crisis. It said trace-back activities were currently underway to identify the source of the infection, with additional precautions taken to monitor farms within a 10-kilometre radius. This proactive approach aims not…

The stock market has learned to love President Donald Trump’s tariffs. Wall Street revolted in April after the president unveiled plans for the highest US import taxes in more than a century. Stocks lost nearly 12% of their value in less than a week, while the rate on the 30-year Treasury bond made its biggest jump since 1982. The financial market gyrations caused the president to back off and pause the tariffs to open a 90-day negotiating window. The weeks that followed were a blur of tariff attacks, retreats and confusion emanating from the White House. But since its early April low, the S&P 500 has shrugged off its disquiet over trade policy to gain an astonishing 26%. The president has celebrated the market rebound as validation of his disruptive…

South African healthcare leaders are outpacing their global counterparts when it comes to adopting artificial intelligence, particularly in clinical decision-making and exploring the potential of generative AI. Nearly two-thirds of these leaders have already rolled out remote patient monitoring solutions across a range of critical care areas, including mental health (62%), post-operative recovery (56%), pre-operative preparation (55%), chronic disease management (55%), and elderly care (55%). While emerging care delivery models and advanced technologies like artificial intelligence are transforming the healthcare landscape, enduring challenges must still be overcome to ensure patients receive high-quality care. AI Amid Workforce and Infrastructure Struggles Though the South African healthcare system is undergoing pivotal transformation, the sector stands between the promise of innovation and the pressure of persistent systemic challenges. While new care delivery models and…

Big tobacco industry players in South Africa believe the government can speed up transition towards less harmful products and effectively end trade in illicit cigarettes with better regulatory and policy attention to bad practices across the sector. Tobacco cigarette manufacturers British American Tobacco South Africa (Batsa) and Polaris Manufacturing (formerly Gold Leaf Tobacco Corporation) last week traded accusations of fueling trade in illicit tobacco cigarettes through under-pricing and imports. This comes despite the industry touting new tobacco products such as pouches and e-cigarettes as key in reducing the harm caused by combustion cigarettes. The South African tobacco industry appears to be pulling in the same direction in demanding a conducive regulatory and policy framework, including favourable and separate taxation for new tobacco cigarettes. They say this will unlock fresh investments…

No further progress can be made in implementing the Business Rescue Plan without additional funding from the Department of Communications and Digital Technologies (DCDT), Messrs. Anoosh Rooplal and Juanito Damons, the business rescue practitioner (BRPs) of the SA Post Office (Sapo) said on Monday in an update. Because of this, the BRPs are consulting with their legal advisors regarding the company’s potential exit from business rescue and the subsequent return of the company to its shareholder, the DCDT, along with a new appointed board. Sapo was placed under business rescue on July 10, 2023 to avoid liquidation. They said in an affidavit that they would award funding to the process, which would encompass funding of a first tranche of R2.4 billion (which was received and used for retrenchments packages) and…

THE Airports Company South Africa (Acsa) has yet to outline its stance after being slapped with an undisclosed fine for alleged security-related breaches. The South African Civil Aviation Authority (SACAA) has confirmed having recently imposed an undisclosed fine against Acsa for alleged security-related breaches. The fine comes as Acsa said it has placed its group executive for enterprise security and compliance, Lieutenant General Mzwandile Petros, on precautionary suspension as investigations commence into troubling allegations of operational irregularities. In a statement on Saturday, Acsa revealed that Mary Ann Joubert has been appointed to act in the post. "Airports Company of South Africa (ACSA) has placed the Group Executive: Enterprise Security and Compliance (GE: ESC), Lt General, Mzwandile Petros, on precautionary suspension pending the outcome of an independent investigation into allegations…

The Muslim Judicial Council (MJC) has called for a transparent plan of action to secure the safety and wellbeing of gang and violence ridden communities in Cape Town, following a meeting with various stakeholders yesterday. The most recent incident of violence saw a mass killing in Bishop Lavis on Friday night which claimed the lives of four people. Recent weeks have seen a surge in mass shootings wreaking havoc in areas across the city, including in Mitchells Plain, Kraaifontein, Mfuleni, and Lower Crossroads. MJC president, Sheikh Riad Fataar said they called the meeting in their capacity as a senior religious authority and civil society stakeholder. The purpose of the meeting was to initiate “meaningful deliberations on the immediate and coordinated implementation of solutions”. The MJC called for a transparent plan…

Cobus Wiese is focused on keeping his head down and working harder to get one more Springbok cap after making his debut this past weekend against Italy in Gqeberha. The utility forward, along with his brother Jasper, became the 37th pair of brothers to play for the world champions. However, Jasper copped a silly red card for a headbutt in the 21st minute of the 45-0 victory, which prevented the two from playing together. Cobus (28) felt for his brother and supported him afterwards, but after getting that first cap after a rocky journey to the top, the Bulls forward wants to keep grinding to stay in contention for South Africa. He, alongside Sharks centre Ethan Hooker and Lions prop Asenathi Ntlabakanye, made their debuts off the bench in the…

LIVERPOOL couldn’t do it. Nor could Arsenal. Inter Milan conceded five. Even the mighty Real Madrid fell short, humbled in unforgettable fashion. But Chelsea did – when few had given them a chance. Enzo Maresca’s Blues did to PSG what PSG have done to countless big names in a remarkable recent run that included Uefa Champions League glory as part of a magnificent treble for Luis Enrique’s all-conquering team. The quadruple was on, by all accounts, when PSG swept Madrid aside with a devastating opening salvo in the Fifa Club World Cup semi-final in the US. Chelsea, meanwhile, were quietly going about their business in the other half of the draw, adding key puzzle pieces along the way. But it was the addition of striker Joao Pedro from Brighton that…