Cape Times 2025-11-28

Former Nedbank chief executive Mike Brown’s legacy came under scrutiny this week after the bank agreed to pay Transnet R600 million to settle a long-running dispute over controversial interest-rate swap deals concluded during his tenure. While the confidential settlement ends a costly legal battle, it is likely to deepen reputational concerns surrounding Brown, who presided over the bank at a time when it became entangled in transactions later linked to South Africa’s state-capture scandal. Brown, who over 14 years earned remuneration totalling nearly R477 million, was previously lauded for modernising the bank and maintaining stability in a volatile environment. But the Transnet case has long cast a shadow over his tenure, with the swap episode as a notable blemish on his record. Nedbank and Transnet announced the settlement on…

After a regulatory review of A2X Markets' 2023 opt‑out listing process, the bourse has paid a R700 000 administrative penalty to the Financial Sector Conduct Authority (FSCA), This follows the conclusion of a 90‑day enforceable undertaking between A2X and the FSCA. In 2023, competitor bourse JSE complained that the smaller exchange had breached listing requirements. The JSE said A2X was using an “opt‑out” model that bypassed the formal listing application procedures required under the Financial Markets Act and A2X’s own listing requirements. A2X essentially automatically listed unless they actively said no – without their consent. Normally, companies have to apply and agree formally to be listed, following the rules set by the Financial Markets Act and A2X’s own listing requirements. According to an FSCA June 2025 report, this approach contravened…

Transnet announces completion of rehabilitation of Bayhead Road in Durban a month ahead of schedule and in time for the festive season has been welcomed by experts. Transnet said that this would improve port efficiency and reduce road congestion. Transnet said this will allow for seamless cargo movement for South African consumers. “The project, which commenced in June 2025 was planned for six months, eases traffic congestion by providing seamless access to port terminals, warehouses and industrial facilities. Bayhead Road connects the Port of Durban to the national road network, thus supporting efficient supply chains and bolstering the country’s trade competitiveness. This key route directly enhances port operational efficiency and contributes substantially to industrial growth as well as global trade connectivity.” Transnet added that the R76 million refurbishment has…

Exxaro acquisition of renewable energy assets gets completed through its subsidiary Cennergi Exxaro has signed a R1.8 billion agreement for the acquisition of renewable energy assets in the Northen and Western Cape as it scales its energy solutions. The acquisition has been completed through Exxaro’s wholly owned subsidiary, Cennergi. It said on Thursday that binding agreements have been signed with Acciona Energía for the acquisition of the 138MW Gouda Wind Farm in the Western Cape and the 75MW Sishen Solar Facility in the Northern Cape. Additionally, Exxaro has snapped up the company responsible for the operations and maintenance of the two renewable energy assets that were procured under Bid Window 2 of South Africa’s Energy’s Renewable Energy Independent Power Producer Procurement Programme. The final value of the purchase is expected…

Sun International on Tuesday slammed a proposed new gambling proposal by Treasury saying gambling will make ​t​he industry one of the highest taxed gambling industries in the world and destabilise the legal gambling industry. ​It also said customers will shift to offshore platforms and receive less protection, which directly contradicts the proposed regulatory intent​. This after Treasury on Tuesday released a discussion paper titled "The Case for a National Online Gambling Tax", reveals that government is weighing the introduction of a 20% national levy on gross gambling revenue (GGR) from online betting and any future interactive gambling activities. This would be imposed in addition to existing provincial gambling taxes, potentially lifting the combined tax burden on operators to between 26% and 29%. The discussion document calls for public comment. Treasury…

The announcement by US President Donald Trump that South Africa will be “uninvited” from the 2026 G20 Summit is, at face value, a diplomatic provocation. But beneath the headlines lies a far more consequential opportunity: the chance for South Africa - with its business leadership at the forefront - to redefine its global narrative, champion multilateralism and strengthen its position as a bridge between the West and the Global South. Moments like these are where national brands, economic futures and geopolitical identities are shaped. South Africa now has an opportunity not just to weather the storm, but to lead through it. The G20 Is Not a Party Invitation — And Business Knows It The suggestion that a full member can be “disinvited” misunderstands the G20’s nature. It is not a…