Cape Times 2025-08-18

Barloworld set to delist from JSE as Saudi Arabia’s Zahid Group takes shareholding The Competition Tribunal has granted approval for the acquisition of industrial giant Barloworld by Newco, contingent upon fulfilling specific public interest and empowerment criteria aimed at benefiting historically-disadvantaged persons (HDPs) in South Africa. This heralds a significant shift not only for Barloworld but for its employees, as the merger promises structural changes rooted in empowerment and employee participation. Former executives in Barloworld are acquiring the group through Entsha Proprietary Limited, while Saudi Zahid Group is the other shareholder in Newco. With Newco intending to bump up its shareholding in the South African company, Barloworld will ultimately be delisted from the JSE. The merging parties, through their legal representative, told the Competition Tribunal hearing last week that the…

Tourism organisations have voiced serious concerns over recent upheavals within the board of South African Tourism (SA Tourism) and the potential impact this might have in marketing the country as a tourist destination. This comes after the SA Tourism board on Thursday placed CEO Nombulelo Guliwe on precautionary suspension effective immediately, following serious allegations of misconduct. Leadership instability at the national tourism agency responsible for marketing the country as a preferred tourist destination comes just a month before one of South Africa's biggest tourism conferences. In a statement on Friday, the Tourism Business Council of South Africa (TBCSA) - the umbrella organisation representing businesses in the hospitality, travel, and tourism sector - highlighted Guliwe's reported suspension and the resignation of board chairperson, Professor Gregory Davids, last month as glaring concerns.…

The National Association of Automotive Component and Allied Manufacturers (NAACAM) 2025 show revealed that South African manufacturers are poised to reap significant benefits from the African Continental Free Trade Area (AfCFTA). Unveiling the latest industry insights, Luthando Vuba, executive head of international trade at Standard Bank Group's Business and Commercial Banking, last week highlighted how the AfCFTA is paving the way for South African suppliers to deepen their presence in burgeoning automotive markets across Africa. Emerging automotive hubs in countries like Morocco, Nigeria, Ghana, Kenya, and Egypt demonstrate an increasing demand for South African components, ranging from engine parts and tyres to cutting-edge Electric Vehicle (EV) technologies. Vuba pointed out that while the sector showed resilience, it faced challenges. He said the latest data from NAACAM revealed a contraction of…

The International Court of Justice’s (ICJ) advisory opinion of July 23, 2025 marks a defining moment in international climate law. For South Africa, it is not a verdict of limitation; it is a verdict of leadership. The ruling invites developing nations to act decisively while balancing growth, justice and innovation. As the only African country to preside over the G20 and a principal voice within BRICS, South Africa’s role is pivotal. It must now demonstrate how technological solutions, fiscal diplomacy and climate justice can co-exist without sacrificing energy security or economic dignity. The ICJ has clarified that climate harm constitutes a breach of international obligations. States must prevent foreseeable damage, protect vulnerable populations and pursue mitigation aligned with the 1.5°C global target. This reinforces the principle of common but differentiated…

An investigation conducted by the World Economic Forum's board on Friday cleared the body's founder Klaus Schwab and his wife of wrongdoing, after a probe into whistleblower complaints. "Following a thorough review of all facts, the Board has concluded that ... there is no evidence of material wrongdoing by Klaus Schwab," the board announced. In April, the Wall Street Journal reported that an anonymous letter sent to the prestigious institution's board of directors accused Schwab and his wife Hilde of mixing their personal affairs with Forum resources without proper oversight. A spokesperson for Schwab had immediately denied all these accusations, but the 87-year-old said he would step down as head of the WEF. The board of the WEF, best known for its annual summit for political and business elites in…

Thousands of bank accounts are being closed in South Africa on the basis of reputational risk despite legislative changes in the United States that seek to stop this. Reputational risk as a metric is a slippery slope. Banks do so on the basis of negative media press. Banks use data platforms LexisNexis, World Online and World-Check that aggregates news from media outlets. The problem is that these articles that flag reputational risk lack any forensic or legal basis. Banks don't have to verify if the perceived reputational risk carries weight and on the basis of the negative articles they can debank you whether the news is true or not. The irony is that the banks themselves, such as Standard Bank and Nedbank, are also flagged by the Zondo Commission for…