Innholdsfortegnelse for 2025-11-28 i Cape Times

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…

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…

Cell C Holdings debuted on the Johannesburg Stock Exchange (JSE) on Thursday, marking a defining milestone in South Africa's telecommunications landscape and opening a new chapter in the company's turnaround journey. The share price was seen trading 3.77% higher than the opening price, at R27.50 on Thursday midday, valuing the business at about R9 billion, with 340 million ordinary shares in issue. The offer included 102 million sale shares, raising R2.7 billion for the selling shareholder, The Prepaid Company, which is a subsidiary of Blue Label Telecoms Group. "This successful listing confirms our belief that a leaner, more agile operating model can compete effectively while keeping connectivity affordable for all South Africans. We've shown that purpose and profitability can coexist and win," said Cell C CEO, Jorge Mendes. The offer…

In January, when South Africans sat at kitchen tables, bank statements spread out like pieces of a puzzle, they dreamed of a disciplined year. They budgeted. They promised themselves to save more and spend less. Did anyone in their spreadsheets, budgeting plans, vision board, or New Year’s resolution include Black Friday? Quite unlikely. Yet, as the year winds down and fatigue gnaws at the willpower needed to see financial plans through to the end of the year, Black Friday rises like a glittering mirage in the desert of November. It promises relief, rewards, and once-in-a-lifetime deals. But for many households, it behaves less like a festive opportunity and more like a silent wrecking ball swinging straight into their year-long financial plans. Black Friday did not arrive in South Africa as…

KAL Group, the South African agri, fuel and convenience speciality retailer listed on the JSE, reported a good recovery in the second half of the year to September 30 and this enabled it to declare a dividend that had been raised by 16.7%. The dividend of 210 cents for the year was in line with the group's earlier commitment to investors made during the year. The share price notched up 2.05% to R46.75 on the JSE after the release of the results Thursday. "At mid-year, we spoke about the momentum building in our business and the uplift we expected in the second half – and we have delivered exactly that. The recovery we anticipated has materialised, with a strong upswing across our operations supporting an exceptional full-year performance," said CEO…

THE social responsibility and think tank report unveiled by Longyuan South Africa Renewables yesterday reflects a year of building cleaner energy systems, stronger communities, and trust, says the company’s Director of Planning and Development Dai Xiaoming. China Longyuan is the world’s largest wind power investor and operator, with more than 22,000 megawatts of installed wind capacity. Longyuan SA, its subsidiary, invests and operates one of the largest wind power plants in South Africa. Longyuan South Africa Renewables primarily worked in the Northern Cape highlands where they built two wind power projects. The report was unveiled during a media briefing at the Century City Conference Centre yesterday. CEO Wang Tianbao said: “The report we are releasing today is not only a summary of our work but also a…

A DONALD Trump-led administration’s rift with South Africa would ultimately not be in Washington's interest, says German Chancellor Friedrich Merz who has urged the US president to reconsider his decision to bar Pretoria from the 2026 G20 summit in Florida. The US and South Africa are at odds over a range of domestic and foreign policies and last week Washington snubbed the G20 summit in Johannesburg. On Wednesday Trump said he was excluding South Africa from the 2026 summit, due to be held at his own golf resort in Miami, citing alleged “horrific Human Rights Abuses” against white South Africans. “I will try, in my conversations and meetings with the American president... to convince him that it would be good to invite all members of the G20 to America,” Merz…

In a Road Accident Fund claim with a twist, the Gauteng High Court in Pretoria ruled that when a car is used as a weapon, the fund is not liable to compensate the victim. With negligence not proven and intention not pleaded in this case, the damages claim was turned down. The plaintiff, Oscar Mashengani, in claiming from the fund for the injuries he had suffered after he was hit by a vehicle, remained mum in court regarding the exact circumstances under which he was injured. But several witnesses who were present during the late-night New Year’s brawl, when the incident occurred, shed light on what had happened. On New Year’s Day 2019, the plaintiff and his two friends enjoyed the festivities that come with ushering in of a new…

Despite being reduced to ten players, Stellenbosch FC secured a thrilling 2–1 victory in a gripping display of tenacity over Orbit College on Wednesday evening at Olympia Park, Rustenburg. Following Thabo Moloisane’s second-half dismissal, Stellenbosch rallied late in the game to end a three-game losing streak in the Betway Premiership. This marked their first away league victory of the season. It came hot on the heels of a triumphant performance just days earlier, where they had defeated the Congolese side AS Otoho in the CAF Confederation Cup, albeit at a temporary home venue in Polokwane due to the unavailability of stadiums in Cape Town. Coach Steve Barker praised his players for their resilience, highlighting the significance of the win. “It was massively important for us to get the win in…

Recently, I was coaxed into watching Selling the OC. Vapid, superficial, brain-numbingly infuriating — with scripted melodrama that even the best daytime soapies would be embarrassed about. I could feel the brain-rot seep into my body and coil its parasitic and exploitative critique of human society around my soul. One of the contestants (?), cast members (?), personalities (?), estate agents (?), blights on humanity (?), whatever, was so spray-tanned I might have mistaken them for a fire hydrant. I am not overly fond of reality TV; it is the nadir of our culture, the antithesis of progress and, in most cases, an irritation on regularly scheduled programming. In future, when historians look back at this particular point in time — à la Edward Gibbon — I am fairly sure…

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…

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…

Absa in its South Africa fourth quarter 20225 Quarterly Perspectives indicated that the full-year 2025 forecast for gross domestic product (GDP) is at 1.3%. Absa said that the forecast for real GDP growth is 0.4% quarter on quarter for Q3 and Q4 2025. Experts have agreed with the findings. Absa said their 2026 forecast is 0.2 percentage points (pp) higher at 1.8%, partly reflecting its expectation of earlier rate cuts, while its forecast for 2027-29 is also marginally firmer at an average of 2.1% (+0.1 pp). “The external environment is largely a tailwind for South Africa. Precious metals prices have continued to rally, exceeding our previous expectations. Global economic growth is also showing resilience. Meanwhile, the Fed’s (Federal Reserve) resumption of its easing cycle, with expectations of more cuts, should…

The past month has seen both Moody’s and Fitch Ratings publish their updated assessments of the South African economy. Their conclusions, while diplomatically phrased, are sobering: South Africa’s growth is projected to hover between 1% and 1.5% over the next 12 months, weighed down by sluggish reform, elevated financing costs, and persistent structural bottlenecks in energy, logistics, and state-owned enterprises. Moody’s has stressed that the country’s cost of capital remains stubbornly high relative to emerging market peers, reflecting both policy drift and weak private investment. While South Africa benefits from deep domestic capital markets and a credible central bank, Moody’s warns that unless reform momentum accelerates, the economy will remain trapped in a low-growth cycle. Fitch echoes this view, having affirmed South Africa at ‘BB-’ with a Stable Outlook on…

Nampak's share price surged 3.9% on the JSE on Thursday after it forecasted a more than 100% increase in headline earnings per share (HEPS) of continuing operations that entrenches its turnaround process. The group, Africa's largest diversified packaging manufacturer, said in a trading statement HEPS of continuing operations are expected to be between 10 100 cents and 10 700 cents for the year to September 30, 2024, compared to HEPS of 3 361.1 cents in the 2023 financial year. The group that produces packaging for the beverage, food, and consumer goods industries and which over the past two years has undergone significant restructuring to bring down high debt, said that in the 2024 comparative financial year, various assets were held for sale in line with an asset disposal process.…

CONTROVERSIAL tenderpreneur and attempted murder-accused Vusimuzi “Cat” Matlala’s connections with deputy national commissioner for crime detection Shadrack Sibiya came under the spotlight when he was asked to explain the nature of their meetings. Matlala, currently detained at Kgosi Mampuru Correctional Centre since his April arrest, is facing multiple serious charges, including conspiracy to commit murder and involvement in a R2 billion fraud linked to Tembisa Hospital. He continued with his testimony before the Ad Hoc Committee established to investigate the allegations made by the South African Police Service (SAPS) KwaZulu-Natal Provincial Head, Lieutenant General Nhlanhla Mkhwanazi. Evidence leader Advocate Norman Arendse S.C challenged Matlala to explain the nature of his relationship with Sibiya. Arendse found it strange that Sibiya didn't mention that he had three meetings…

A Brackenfell family expressed their deep gratitude to firefighter, Arlin Thielman who helped save their four-month-old baby, Daniel from choking. Just before 9pm on November 14, Daniel’s mom, Miriam Pharoe administered some panado syrup as Daniel felt a bit warm, but the next thing she knew, her son started choking. “Panic set in, and the family’s efforts to help the baby came to nought – and so they decided to rush him to hospital. On the way, Miriam told her husband to stop at the Fire Station, hoping someone there could be of assistance,” the City said. Firefighter Thielman stepped in, and helped to stabilise Daniel, while also arranging for transport to hospital. By the time the family arrived at hospital, Daniel was stable and coded from yellow to green…

Max Verstappen is seeking a hat-trick of wins at the Qatar Grand Prix this weekend as this year’s Formula One world championship reaches boiling point in the Arabian Gulf. But he will know, better than most, that even with luck on his side he is unlikely to overhaul the 24-point deficit separating him from McLaren's Lando Norris as the final two events of the season approach. Despite being disqualified along with McLaren teammate and title rival Oscar Piastri after finishing second at the Las Vegas Grand Prix last Sunday, Norris arrives in Qatar as favourite to lift his first title and secure McLaren's first team-and-driver double since Mika Häkkinen’s success in 1998. The 26-year-old Briton needs only to hold his nerve and outscore his rivals by two points to leave…

Kaizer Chiefs captain Brandon Petersen has stressed the importance of securing all three points this weekend when they host Zamalek in their CAF Confederation Cup group-stage encounter at the New Peter Mokaba Stadium, with kick-off at 3pm tomorrow. Chiefs opened their group campaign in disappointing fashion, falling to Egyptian outfit Al Masry 2-1, and they will be hoping that this weekend’s fixture provides the boost they need to get their continental push back on course. Amakhosi now face another representative of the Pharaohs, but one with greater pedigree — a club renowned for its reputation and vast experience in this competition, which it has won twice. Beyond that, Zamalek’s five CAF Champions League titles have cemented their status as one of the continent’s true heavyweights, something that co-coaches Cedric Kaze…

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…

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…

Millions of South Africans face unexpected financial shocks every year, yet many don’t realise they may already have insurance that covers their loan repayments if something unexpected happens. It’s called credit life insurance, and it can make the difference between keeping your financial footing and not being able to meet your obligations if your income is disrupted. With South Africa’s economy struggling to achieve meaningful growth, the risks are real. According to Statistics South Africa, in just the first half of 2025, nearly 300,000 jobs were lost as companies retrenched and businesses downsized. Add to this floods, snowstorms, and extreme weather events in KwaZulu-Natal and the Eastern Cape, which caused widespread damage and loss of income for businesses and their employees. Credit life insurance protects borrowers who can no longer…

Pan African Resources' feasibility study on its Soweto cluster tailings storage facilities (Soweto TSFs) indicates potential for a significant increase in gold production that is likely to cost some R2.8 billion. Short term expansion through December, notwithstanding the feasibility study plans, is expected to increase production to 60 000 ounces a year from 50 000 ounces a year, the company announced on Thursday. "The successful commissioning of the MTR operation in October 2024, completed ahead of schedule and under budget, again demonstrated Pan African's ability with regards to successfully commissioning tailings retreatment operations," said the CEO Cobus Loots. The company's board said a feasibility study has been completed to process the Soweto TSFs, which were acquired in 2021. The Soweto TSFs are said to contain mineral reserves of 108…

PPC is unfazed by import permits granted in Zimbabwe, saying these will not affect its volumes in the country. Zimbabwe is facing constrained supply of cement, prompting the government to issue import permits for the construction industry raw material. This had raised fears that this could disrupt volumes for local manufacturers, including PPC, which is the biggest producer of cement in the country. PPC CEO Matias Cardarelli said in an interview that the granting of import licences by the government was understandable given shortages on the market. Cardarelli said, “I understand the reaction from the government to issue some import permits temporarily but also, I believe that the tariffs are very important in terms of local producers to be able to plan the investment moving forward for the future.” PPC…

OVER 11,000 incidents of bullying have been reported in public schools in the last year. This was according to Basic Education Minister Siviwe Gwarube in response to a parliamentary inquiry by the EFF’s Lencel Komane. Komane had asked about the number of reported incidents of bullying and abuse by learners against other learners in the past 12 months, and the steps the department is taking to help schools address the issue of bullying. Gwarube said the management, collection, and verification of bullying incident data fall under Provincial Education Departments (PEDs) responsibilities. “According to the provincial reports submitted to the Department of Basic Education (DBE), a total of 11,194 incidents of bullying were reported by PEDs between October 2024 and September 2025 in public ordinary schools,” Gwarube said. “The DBE fulfils…

Angels & Demons Dan Brown Narrated by Richard Poe Simon & Schuster Audio UK GATHER around and buckle up for a sci-fi adventure like no other. If you’re in the mood for a captivating story that marries thrilling suspense with thoughtful exploration of science and religion, then Dan Brown’s Audiobook Angels & Demons is the audiobook you won’t want to miss. Released late in August, this mammoth listen stretches over 18 hours, offering a rollercoaster ride of brain-teasing entertainment wrapped in an intelligent narrative. In Angels & Demons, we are introduced to the world-renowned Harvard symbologist Robert Langdon, who is called to action at a Swiss research facility. Here, he is tasked with analysing a baffling symbol scorched into the chest of a murdered physicist. What begins as a simple…

When Temba Bavuma led the Proteas to glory at Lord’s this past winter, securing the country’s first ICC trophy in the 21st century, it would have crossed many people’s minds that the diminutive batter is leading a team that could potentially be the best Test team South Africa has ever produced. However, it was clear that the 35-year-old would need to bring down a few giants for him and his team to be mentioned in the same sentence as some of the teams of the past, despite having won the World Test Championship. The first task was Pakistan, where Aiden Markram stepped in for the injured Bavuma and achieved a tied series that ended 1-1. Despite that being a great result for any team touring the subcontinent, many would have…

Arne Slot insisted he is confident of avoiding the sack despite troubled Liverpool’s dismal 4-1 defeat to PSV Eindhoven on Wednesday. Slot’s side slumped to a ninth defeat in their last 12 matches in all competitions, leaving the Dutchman under mounting pressure. Liverpool’s numerous flaws were brutally exposed by PSV in a Champions League demolition that triggered recriminations as frustrated fans jeered Slot and his players at the final whistle. The unusual sight of empty red seats around Anfield well before full-time delivered a damning verdict on Liverpool’s astonishing fall from grace this season. Beaten 3-0 by Nottingham Forest at Anfield last weekend, Liverpool have now lost three successive games, conceding 10 goals in the process. It is their worst run since the 1953-54 campaign, and Slot is facing pointed…