Innholdsfortegnelse for 2025-11-26 i Cape Times

President Cyril Ramaphosa has signed a far-reaching proclamation authorising the Special Investigating Unit (SIU) to probe allegations of serious maladministration, improper conduct and possible corruption at South African Tourism (SA Tourism), marking one of the most significant interventions in the entity’s recent history. The proclamation follows years of controversy at the organisation, which has faced persistent governance instability and a collapse in industry confidence. Proclamation 297 of 2025, signed by the President and gazetted this week, empowers the SIU to investigate allegations centred on the procurement of media buying services, including three specific invoices and purchase orders. The SIU’s mandate includes examining payments made for services that were never rendered, partially delivered, or not executed in accordance with contractual obligations. This comes after the previous SA Tourism board suspended the…

Bank and parastatal agree to end litigation, and settlement is made without any admission of liability South African state-owned logistics firm Transnet and Nedbank said on Tuesday they have reached a confidential commercial settlement to end their ongoing litigation, with the bank agreeing to pay Transnet R600 million. Both parties said the settlement was made without any admission of liability. Transnet and Nedbank said the agreement was aimed at avoiding lengthy and costly court proceedings and preventing damage to their long-standing commercial relationship. They said they continued to stand by their previous statements on the dispute. The litigation stems from interest-rate swap transactions concluded in 2015/16 during Transnet’s multibillion-rand locomotives procurement programme, which featured in the judicial inquiry into state capture. A year ago, Business Report reported that Nedbank had…

South Africa’s top CEOs stand out for their depth of experience and strong institutional knowledge – but they trail far behind their global peers in international mobility and cross-sector experience. That’s according to Route to the Top 2025, a report from global leadership advisory firm Heidrick & Struggles, which analysed the profiles of 1 232 CEOs of major companies across 27 markets, including the JSE Top 40. The data shows that 95% of South Africa’s CEOs have held a C-suite role before taking the top job, compared with 77% globally. Nearly half (48%) have previously served as a CEO, versus 42% worldwide. South Africa also has a higher share of CEOs with prior functional leadership experience: 23% have been CFOs (compared with 21% globally) and 28% have served as COOs…

South Africa’s energy transition hinges on private capital stepping in to fill funding gaps. Although the country has secured over R18 billion in new loans from the African Development Bank (AfDB) and the German KfW Development Bank to support its Just Energy Transition, this funding remains insufficient and is heavily loan-dependent, adding to an already considerable debt burden. Compounding this, global interest rates remain high, and financing is increasingly flowing toward lower-risk regions. As a result, the basis on which capital is allocated is shifting from who has the boldest vision to who can deliver reliably and measurably over time. Capital is no longer flowing freely Despite efforts by central banks to loosen monetary policy, interest rates have risen unevenly since 2021. In the US, for example, the yield on…

Pepkor Holdings has announced significant profit growth for the year to September 30, driven by market share gains in retail and a burgeoning fintech segment. The company reported a 12% increase in revenue, reaching R95.3 billion, and an operating profit rise of 13.2% to R11.1bn. In a show of confidence, Pepkor has raised its dividend by 9.2%, now standing at 53 cents per share, alongside a remarkable 23.4% growth in normalised headline earnings per share (HEPS), which has reached 161 cents. CEO Pieter Erasmus said the results were a testament to Pepkor's ability to generate sustainable value, despite a dynamic economic landscape. In a statement, he noted the company's commitment to addressing customer needs and enhancing affordability and accessibility, saying, “We continue to build a unique position of trust among…

THE Western Cape High Court has turned down the Department of Infrastructure MEC Tertius Simmers’ latest bid to appeal a R10.4 million judgment in favour of Tempani Construction. The court also denied his request to appeal the entire judgment and order issued on September 15. This recent decision is a major blow in the department's ongoing legal fight over payment for the Delft community day centre (Delft project), which was finished nearly six years ago. The court order followed an arbitration process, in which the MEC was ordered to pay the construction company the sum of R10,420,365.61 plus VAT. The project was completed in August 2017. Despite an adjudicator's determination that payment was due, the MEC has repeatedly refused to honour the debt. The MEC, however,…

TRANSNET recently celebrated a pivotal milestone in South Africa's industrial and economic recovery, as the 200th state-of-the-art Traxx 23E locomotive rolled off the assembly line. The locomotive is part of the 240 units that Transnet has procured as part of its fleet renewal programme. Transnet said the achievement demonstrates the engineering excellence and expertise within the organisation, its resilient recovery from major setbacks, as well as its commitment to driving transformation in the logistics sector, through local manufacturing. Transnet Group Chief Executive, Michelle Phillips said the Traxx 23E project is the cornerstone of Transnet's effort to modernise its freight rail fleet. “Modernising our fleet is a critical component of the national mandate to lower the cost of doing business and enable economic growth. “(The) celebration of this milestone is a…

Springbok scrumhalf Morne van den Berg says South Africa cannot afford to underestimate Wales in Saturday’s Test at the Principality Stadium, warning that a patched-together Welsh side will still bring the trademark fight, physicality and defiance that South African teams have come to expect in the north. Wales enter the Test under severe selection strain, missing 13 players who have returned to their franchises in England and France. But despite the gulf in depth, experience and recent form, the diminutive No 9 insists the Springboks’ standards – not Wales’ weaknesses – must drive their performance. “We’re in the process of building our game and each week has its own theme and own work-on, so the environment is great, the atmosphere is good, but it’s all about building the game and…

Vodacom KwaZulu-Natal has announced a major investment of more than R1.1 billion in network infrastructure for the current financial year (FY2026), reinforcing its commitment to expanding connectivity and accelerating digital inclusion across South Africa’s most populous province. The announcement was made during a media roundtable on Tuesday, led by Imran Khan, managing executive for Vodacom KwaZulu-Natal, alongside the company’s provincial leadership team. Khan said the investment reflects Vodacom’s long-term vision of building a digitally inclusive KwaZulu-Natal where all communities—urban and rural—have access to the opportunities offered by the digital economy. “Vodacom's R1.142bn investment in KZN's network infrastructure during the financial year demonstrates the company's commitment to ubiquitous connectivity across the province," Khan said. "The investment breakdown includes R796 million for radio projects, R289m goes to transmission, R36 million towards energy,…

The Department of Agriculture (DoA) has dismissed claims by the Southern African Agri Initiative (Saai) that the regulatory system responsible for approving fertilisers, pesticides, farm feeds and veterinary products is facing a “total administrative breakdown.” This follows a strongly worded letter of demand sent by Saai’s attorneys to the Minister of Agriculture, the department, and the Registrar of Act 36, calling for urgent intervention. In its statement, the department on Monday said it had taken note of what it described as “misleading public statements” made by an agricultural lobby group regarding delays and inefficiencies in processing applications governed by the Fertilisers, Farm Feeds, Agricultural Remedies and Stock Remedies Act. It stressed that despite challenges, the system was not in a state of collapse. “Upon assuming office, the Minister of Agriculture,…

I still remember the sinking feeling. African Tech Roundup had received a $25 000 grant from the Celo Foundation, tokens that briefly tripled in value (in fiat terms) during the bull run. Instead of converting to fiat to fund our project as intended, we held. Then the market turned. By the time we needed that funding, we'd operated at a loss, forfeiting the remaining $10 000 rather than continue. No shade to Celo. I remain grateful for that collaboration, and much of the blockchain education content we published circa 2021-22 with their support remains singularly some of our most-read and listened material. The appetite for the solutions crypto promises is undeniable. But that experience taught me something crucial about my own susceptibility to making poor reads on what constitutes a…

One of the realities facing South Africa is, that without policy intervention, Mpumalanga’s economic contraction will start to increase rapidly. This is the result of a combination of factors including the reliance of the Mpumalanga economy on the extraction of coal and the failure of municipalities to deliver basic services. Coal mining, like any extractive industry, leads to depleted reserves and closure liabilities. This is evident in the many ghost towns scattered all over the South African landscape. The mine closure challenge is how to create meaningful economic activity after mining has stopped and how to rehabilitate the area to a state in which the negative environmental impacts of mining are sufficiently mitigated. One of these challenges, how to create meaningful economic activity could be solved by following a pragmatic…

Zeda, the JSE listed integrated mobility solutions provider, saw its share price rocket over 11% after its annual results showed how it relied on its diversified business model to counter pressures facing traditional car rental services and vehicle sales. The group, which owns the Avis brand in South Africa and 10 other sub-Saharan countries, delivered a total dividend of 181 cents per share, a 50% payout aligned with policy, for the financial year to September 30, 2023, its results published yesterday showed. The share price traded at R13.81 on Tuesday afternoon. "We delivered strong earnings growth and operating margin expansion in a constrained market, while maintaining our commitment to shareholder returns," said the CEO Ramasela Ganda in a statement. "Zeda achieved a strong set of results, underscoring our solid return…

ATTORNEY and human rights defender Ziyaad Ebrahim Patel and Safoudien Bester, a Palestinian Solidarity activist have launched a high court application to hold the government accountable to its international and other obligations following allegations that a group of South Africans was unlawfully serving in the Israeli Defence Forces (IDF) in the armed conflict in the Gaza Strip. Several arms of government, as well as the National Director of Public Prosecution, the Department of Home Affairs and the police are cited among the 10 respondents. Patel confirmed that the government intend to oppose the application and is expected to file papers by next month. The case before the Gauteng High Court, Pretoria stems from a series of criminal complaints filed against South African nationals/citizens who are alleged to have joined…

Veteran Blitzbok forward Ryan Oosthuizen feels that every match at the Emirates Dubai 7s tournament this weekend will be like a knockout match and warns that a slow start could prove costly to their ambitions of beginning the 2025/26 HSBC SVNS Series on a high. “The format has changed for this season and it is going to be a dog fight,” Oosthuizen said. “With only the best eight teams playing, every match will have the intensity of a final and one can expect every match, from the first one in the pool, to be very competitive. We will have to be spot on in our execution from the first minute. “It’s knockout rounds from game one and our first game is against France. “We focused on them this week, to…

South Africans tend to live their best lives in December … excuse me, I meant to say “Dezemba”. “That’s January’s worries,” is one of our favourite things to say around the braai when the kids remind us about that stationery list. When we eventually take that list, we’re shocked that it has a page two. Now it’s panic stations — we have to go to the bank, or an uncle or aunty, to borrow money because a few tubes of Pritt cost the same as two six-packs of beer. That’s also how it used to be when it came to the Springboks’ succession planning before Rassie Erasmus took over in 2018. There was no succession plan for coaches and no long-term plan for players. The period between 2007 and 2010…

South Africa will rely on a collective South African Customs Union (SACU) tariff offer, together with its own direct negotiations, to reverse the 30% tariffs imposed by the United States in September, senior trade official Ambassador Xolelwa Mlumbi-Peter told Parliament on Tuesday. Mlumbi-Peter, the deputy director-general for trade in the Department of Trade, Industry and Competition (the dtic), said South Africa has been in continued engagement with the US on an agreement that would establish reciprocal tariffs, with the primary objective of reducing the recently imposed duties. "There are also discussions on a tariff offer. This will be a SACU offer given that South Africa is part of a customs union. So, SACU is finalizing that with a view to submit it as soon as possible," Mlumbi-Peter said. "The aim…

The curtain has fallen, and despite all voices and mixed echoes of what was possible through our G20 Presidency, South Africa has delivered a resoundingly successful G20, and a promising outcome. For the first time ever, the world’s most powerful economies convened on African soil at the G20 Leaders’ Summit in Johannesburg last weekend. This gathering was more than a diplomatic milestone, it was a celebration of Ubuntu, which teaches that our humanity is bound together. The Summit’s declaration states that “…individual nations cannot thrive in isolation….” I am because we are, this principle of Ubuntu set the tone, reminding leaders that global challenges like climate change demand unity and solidarity. President CyrilRamaphosa underscored this ethos at the historic Summit, affirming our common humanity and the value of partnership and…

Octodec Investments, a prominent JSE-listed Real Estate Investment Trust (REIT) primarily operating in Tshwane and Johannesburg, has reported a 7.6% increase in its full-year dividend, now standing at 134.5 cents per share for the year ending August 31. This rise followed the declaration of a final dividend of 72.5 cents per share, showcasing the company’s commitment to returning value to its shareholders amidst a volatile economic climate. CEO Jeffrey Wapnick, attributed an 8.2% rise in distributable income per share to a "resilient portfolio performance." The total property portfolio, valued at R11.2 billion, recorded a revenue growth of 4.6%, amounting to R2.2bn. Notably, all sectors aided this growth, with residential properties and shopping centres emerging as the strongest performers. The overall vacancy rate simultaneously improved, decreasing to 12.3% from a previous…

Takealot, South Africa's largest ecommerce company, experienced a step-change in its business operations in the past six months to September 30, and is on track to be profitable for the full financial year, for the first time since it was launched in 2011. Takealot Group chief financial officer Tessa Ackermann said in a briefing Tuesday that the Prosus subsidiary's earnings before interest and tax (Ebit) loss had reduced by 57% in the six month period just passed, as the group focused on sweating efficiencies from its infrastructure and distribution centres, and spent very little on capital expenditure. Former Prosus CEO Bob van Dijk had set a target in 2023 that all of Prosus' e-commerce companies had to be profitable by 2025. "The next sixty days are going to be crucial…

SAPS’ Chief Financial Officer (CFO), Lieutenant-General Puleng Dimpane expressed shock with how Police Minister Senzo Mchunu used her information note as one of the reasons for the disbandment of the Political Killings Task Team (PKTT). Rather than calling for the disbandment of the PKTT, Dimpane said she had advocated that a study be conducted to determine whether it should be made a permanent structure. Mchunu, who has since been placed on enforced leave, previously made reference to the information note when he appeared before the the the Ad Hoc Committee established to investigate allegations made by the South African Police Service (SAPS) KwaZulu-Natal Provincial Head, Lieutenant-General Nhlanhla Mkhwanazi. Mchunu’s disbandment of the PKTT is among other issues the committee is investigating. Testifying before the same committee yesterday, Dimpane said…

When the Proteas arrived a fortnight ago, they carried with them the hefty baggage of not having won a Test in India for 15 years, let alone a series since the turn of the millennium. But such has been the events that have unfolded, that the Proteas could complete a 2-0 clean sweep. The only quibble during the second Test in Guwahati, is about how long they took to declare their second innings. It eventually came with an hour of play remaining yesterday, when captain Temba Bavuma called time after Tristan Stubbs’s dismissal for 94 with the Proteas on 260/5, setting India a world-record target of 549. It caused coach Shukri Conrad to injudiciously reference Tony Greig’s infamous “grovel” phrase, which the former England captain made ahead of the…

Everton survived an astonishing moment of madness at Old Trafford on Monday when Idrissa Gueye was sent off for slapping teammate Michael Keane to beat Manchester United 1-0. Senegal midfielder Gueye was given his marching orders by referee Tony Harrington in the 13th minute after putting his hand to Keane’s face following an angry altercation. The home crowd anticipated waves of attack but United failed to take advantage, proving toothless against David Moyes’ battling team. Instead, it was the 10-man visitors who seized the initiative, courtesy of a wonderful strike by Kiernan Dewsbury-Hall in the 29th minute. United, missing injured forwards Benjamin Sesko and Matheus Cunha, huffed and puffed but could not find an equaliser despite twenty-five shots on goal to Everton’s three. Goalscorer Dewsbury-Hall, addressing the red-card incident after…