Innholdsfortegnelse for 2025-06-20 i Mercury

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…

Eskom employees pocketed R3 billion in overtime during the 2023/24 financial year while the entity’s board of directors was paid more than R10 million in board fees. This was disclosed by Electricity and Energy Minister Kgosientsho Ramokgopa when 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 pre-planned and the reasons for not planning them. He also asked the total remuneration of each board member and whether the board members were subject to individual performance reviews. In his written response, Ramokgopa said employees pocketed R3.03bn during…

Farmer Nico Thuynsma gestures towards thousands of orange, yellow and pink proteas in flower and thriving 1 500 kilometres from their natural home at the southern tip of Africa. “They’re all different,” the 55-year-old said on his farm in Cullinan, east of Pretoria. The assorted blooms from the diverse Proteaceae family have more than 350 species in South Africa, from firework-like “pincushion” varieties to delicate “blushing brides”. He picked out a majestic pink and white crown, nearly the size of his head, that has taken four years to reach its impressive size. “The King Proteas are very slow to grow,” Thuynsma said. The largest of the proteas, the King Protea, is South Africa’s national flower. It has lent its name to the national cricket team and countless brands. It features…

Five men who gunned down eight people at Glebelands hostel in uMlazi have been sentenced to eight life terms each and an additional 15 years in prison, the South African Police Service (SAPS) in KwaZulu-Natal said yesterday. The Durban High Court handed down the sentences on Wednesday, following the men's conviction for the mass shooting that took place in the early hours of June 3, 2023. According to police, at least 12 men were inside one room at the hostel when the gunmen stormed in and opened fire. Seven victims died at the scene, and an eighth succumbed to injuries in hospital days later. Four other men survived the attack. Police said the convicted men Bongile Mabele, 35, Bongani Mboyiyane, 39, Sibusiso Manyisa, 41, Siyamthemba Mthwana, 41, and Nkosayikhethi…

The City of uMhlathuze in Richards Bay, northern KwaZulu-Natal, has strongly refuted claims circulating on social media that its mayor, Xolani Ngwezi, has been arrested on corruption-related charges. The City described the allegations as “patently false, defamatory in nature and devoid of any factual basis.” It clarified that Mayor Ngwezi has “not been arrested, charged with any criminal offence, nor subjected to any form of detention by law enforcement authorities.” The social media posts in question, dated June 18, 2025, alleged that Ngwezi had been arrested for corruption. However, the City said these statements were misleading and meant to damage the reputation of the mayor. According to the City, the mayor was informed by the Richards Bay South African Police Service (SAPS) about a “minor complaint of crimen injuria purportedly…

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…

Mamelodi Sundowns are gearing up for their biggest Fifa Club World Cup challenge tomorrow, when they lock horns with Borussia Dortmund at the TQL Stadium in Cincinnati, Ohio (6pm SA time kick-off). Despite being deemed underdogs in this high-stakes encounter, the South African champions are brimming with confidence, ready to make their mark on the global stage. Zimbabwe international Divine Lunga, one of the stand-out players when Sundowns secured a crucial 1-0 victory against South Korea’s Ulsan HD in their opening Group F match, said Dortmund are the “big guns”. Lunga, who was a surprise inclusion ahead of the seasoned Aubrey Modiba against Ulsan, is acutely aware of the formidable reputation of their opponents, but is unfazed by the challenge ahead. Lunga has received great praise in Zimbabwe’s media since…

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…

Denel, the state-owned arms manufacturer, has told the National Union of Metalworkers of South Africa (Numsa) that a 7% wage increase is unaffordable and unsustainable in the long term. They have instead offered a 4% increase. A closed-door meeting was held this week between the union leaders and Denel’s board members in Centurion. Numsa-affiliated workers picketed outside the company’s headquarters on Wednesday. Numsa regional secretary Jerry Morulane said the meeting aimed to find a resolution on implementing a 7% wage increase. “Workers at Denel spent the duration of the meeting picketing outside in order to highlight their demands. The meeting was attended by the executive management, the board and recognised unions.” He said Denel executives had initially approved and communicated a 7% wage increase to employees earlier this year, but…

The EFF has strongly condemned the United Kingdom's decision to deny a visa to its leader, Julius Malema, labelling the action a blatant act of political censorship and cowardice. In a statement, the party said it was “not surprised” by the UK Home Office’s confirmation that Malema’s visa application was denied due to his political views, particularly his support for Palestine and his stance on racial inequality in South Africa. EFF spokesperson Sinawo Thambo said the UK had “effectively banned the president of the EFF due to his position about the genocide of the Palestinian people, his expressed support for the resistance movement fighting against the genocidal Israeli regime, as well as his and the EFF’s stance on racial inequality in South Africa”. The party said Malema was initially invited…

Corrupt officials, the upcoming local government elections, and the stubbornly high rate of unemployment are among the key challenges facing the KwaZulu-Natal Government of Provincial Unity (GPU). This was said by Premier Thami Ntuli as the coalition government marked its one-year anniversary this week. The GPU comprises of the IFP, ANC, DA, and NFP. It was formed after the ANC suffered an electoral collapse at last year’s general election, and no party was able to secure enough votes to form a government on its own. Opposition parties have rubbished the GPU’s time in office, pointing out that under the coalition government, schools and hospitals have been brought to the brink of dysfunctionality due to the non-payment of suppliers. The provincial government was recently forced to step in and make a…

The centurion played a small part in the URC after a concussion and recurring symptoms kept him on the sidelines for a couple of months, before a calf strain and a knock kept him out of other games. The Sharks bowed out at the semi-final stage at Loftus Versfeld, and although he could not be part of the match, Etzebeth is fired up to get the international season going. He says he is cleared of the concussions, and will approach the international season fresh and injury-free. “I’ve recovered from everything... it’s all in the past," the 33-year-old said this week. “I didn’t have a good run with the Sharks, with an injury and a concussion that kept me out for about four-and-a-half months, which wasn’t ideal. “However, I recovered and…

Damian de Allende has this strong urge to end his illustrious career under Table Mountain for the Stormers. With his contract in Japan set to run until the end of the 2027 Rugby World Cup in Australia, the Springbok inside centre pinned his hopes on staying fresh and healthy to have his international swansong at the tournament Down Under. If everything goes according to plan and he can help the Boks to a third title in a row, he will look to move back home to have one last hurrah in the blue-and-white hoops of the Cape side. “A third World Cup win would be great to finish off a long career,” De Allende said this week during the Bok camp in Johannesburg. “I have about two seasons left in…

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…

The process of reviving state-owned low-cost airline Mango appears to have been stopped after the Gauteng High Court, Johannesburg, declared that its business rescue plan cannot be implemented. Aviation Co-ordination Services (ACS) hauled Mango and its business rescue practitioner, Sipho Sono, to court over the plan to save the subsidiary of South African Airways (SAA). ACS, which provided security-related services such as baggage and cargo screening services, baggage reconciliation and check-in services, was among dozens of creditors who were collectively owed about R2.91 billion by Mango before it was placed under business rescue in July 2021. At the time it was placed under business rescue, Mango did not own any material assets, as its most significant assets were leased. In September 2021, a couple of months after being placed under…

In a stark revelation about climate challenges facing South Africa, a comprehensive study analysing weather-related disasters over the past 43 years has identified floods and storms as the most pervasive threats, particularly impacting KwaZulu-Natal. This was announced just days before severe weather struck, causing at least 90 deaths due to flooding in the Eastern Cape. Torrential rains and freezing temperatures also lashed KZN, where flooding events have become a norm following the tragic devastation of the April 2022 floods. New research led by Mary-Jane Bopape, managing director of the South African Environmental Observation Network (NRF-SAEON), sheds light on the urgent need for enhanced climate resilience strategies in a province grappling with the devastation of heavy rainfall. The research, utilising extensive data from the Emergency Events Database (EM-DAT), along with information…

A group of Wentworth homeowners bordering the Jacobs Industrial area, where a factory was gutted by a fire, said they were concerned about their safety. According to a report from the eThekwini Municipality, two firemen sustained second-degree burns, and six people were rescued by firefighters from Monday's blaze. The factory, located on Brooklyn Road, manufactures shoes and sandals. In December 2019, a significant portion of the building was destroyed by a fire and has since been rebuilt. In 2018, a fire also destroyed another portion of the premises. During attempts to extinguish the fire on Monday, an explosion erupted from the main structure, and although no firefighters were inside, two members were injured, said Gugu Sisilana, spokesperson for the municipality. “An extension of the same factory on the northern side,…

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…

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…