Innholdsfortegnelse for 2025-06-23 i Mercury

Famous Brands, Africa’s largest restaurant franchisor, reported a resilient financial performance for the year ended 28 February 2025 in its annual report, despite challenging operating conditions marked by a deteriorating infrastructure environment, and cash-strapped consumers. The group, which owns and franchises major South African food brands such as Steers, Wimpy, Debonairs Pizza, Mugg & Bean, and Fishaways, posted a 3.2% rise in revenue to R8.28 billion, up from R8.02 billion the previous year. Operating profit grew by 12.6% to R914 million, while headline earnings per share climbed to 520 cents, from 465 cents in 2024. CEO Darren Hele credited the group’s performance to disciplined cost containment, brand resilience, and a robust business model. “Our financial results are thanks to strong cost control, the enduring appeal of our brands, and the…

Public service union issues warning regarding more than R500 million at GPAA The Public Service and Commercial Union of South Africa (PSCU) has issued a stark warning regarding the alleged financial mismanagement of pension funds amounting to more than R500 million at the Government Pensions Administration Agency (GPAA). In a letter to the GPAA CEO Kedibone Madiehe over the weekend, the PSCU requested clarification and remedial measures in response to the troubling findings of the pension administrator’s Internal Audit Report for the 2024/25 financial year. The GPAA is a government component which reports to the Minister of Finance and administers funds and schemes on behalf of the Government Employees Pension Fund (GEPF), the largest pension fund in Africa. It thus administers the pension affairs of approximately 1.7 million government employees…

Payments of stipends to participants in South Africa’s Labour Activation Programme (LAP) have been delayed due to attempted fraud by some partnering companies, the Department of Employment and Labour said on Friday. The Unemployment Insurance Fund (UIF), which administers the LAP, said a recent review identified weaknesses in administrative processes that had created opportunities for fraudulent claims. In response, the UIF is intensifying scrutiny of invoices and attendance records submitted by programme partners to safeguard public funds and restore payment timelines. “We are strengthening internal controls and verifying records more rigorously to improve accuracy and efficiency,” the UIF said in a statement. As part of its corrective measures, the UIF has begun implementing a new electronic system to streamline stipend payments and has hired short-term contractors to assist with the…

The US Federal Reserve keeps interest rates unchanged. As was expected, the US Federal Reserve’s FOMC during its meeting of June 17–18, 2025 has maintained the federal funds rate at 4.25%–4.50%. The FOMC, however, has indicated they will lower its bank rate by another two twenty-five‑basis‑point rate cuts later in 2025, as was released in their report last Wednesday. The abstaining of lowering rates can also be seen as the upside risk over escalating clashes between Israel and Iran. This is the fourth meeting in a row that the FOMC kept its short-term rate unchanged. The nervous and volatile environment due to the President Trump’s s chaotic tariff policies, the Middle East conflicts and other uncertainties in global markets, like the oil price, may led to unfounded signals that any…

An influential traditional chief in Nigeria's oil-rich Niger Delta on Friday demanded that Shell pay $12 billion (R217bn)for environmental pollution before it leaves the region. Bubaraye Dakolo of the Ekpetiama Kingdom appeared before a federal high court in the southern city of Yenagoa demanding reparations for clean-up after decades of environmental damages by Shell, according to a statement by a coalition of civil society groups. Farming and fishing communities in the Niger Delta, the heartland of Nigeria's crude production, have fought years of legal battles over damage from oil spills in the area. UK energy giant Shell is one of the companies accused for decades of causing serious environmental degradation across Nigeria's southern oil- and gas-rich region. The monarch's legal challenge was prompted by Shell's recent divestment of $2.4bn in…

Vunani, the independent black-owned diversified financial services group, for the year ended February 28, 2025 posted a loss of R3.1 million, compared to a profit of R24.2m in 2024 amid a difficult and volatile operating environment owing to sluggish economic growth. Loss per share decreased to 7.1c from earnings per share of 9c the prior year. Headline loss per share decreased to 2.8 cents from headline earnings per share of 7.4c. Despite this the group declared a final dividend of 35 cents up from 9c the prior year. Chairman Lionel Jacobs and CEO Ethan Dube said notwithstanding these challenges, in the latter half of the year, Vunani saw a slight uptick in equity markets, which positively impacted growth in the company's funds undermanagement. "We were encouraged by the lowering of…

The ANC leadership in KwaZulu-Natal has read the riot act to councillors regarding the state of municipalities in the province, warning that elected officials must take their oversight responsibilities seriously. Going forward, they will be held accountable for governance failures in councils, the leadership warned. ANC convener Jeff Radebe called on councillors to be well-informed about council matters. He stated that active participation is vital for transparency, efficient service delivery, and curbing corruption and mismanagement at the local level. Radebe made these remarks while delivering his address at the Alliance Local Government and Service Delivery Summit this weekend. “The ANC must take stock of the state of governance in our municipal councils. The 2026 municipal elections are upon us. We have so little time and so much work to do,”…

Cybercrime was once again the topic of a legal wrangle — this time before the Supreme Court of Appeal (SCA), which found that payment via electronic transfer (EFT) is only complete when the funds are received by the correct account holder. The judgment followed legal proceedings between two car sale companies. The one bought two bakkies from the other company only to discover after delivery of the vehicles that cybercriminals had intercepted the electronic payment made for the vehicles. Neither of the parties were prepared to take the financial loss, and the seller initially turned to the regional court in Louis Trichardt to get its R290 000 back — the price at which it sold the two bakkies. The lower court earlier ruled that Hyundai Louis Trichardt had to pay…

Political parties represented in Parliament shared over R3.24 billion in 2023/24 which included donations via private funding, allocations from Parliament and provincial legislatures, and the Electoral Commission of South Africa (IEC). According to lobby group My Vote Counts (MVC), the ANC received the lion's share of nearly R1.72bn and the DA was allocated about R655 million, while the EFF got over R309m. The list does not include the uMkhonto weSizwe Party, as it only contested elections for the first time in May last year following its establishment in December 2023. An amount of about R1.56bn from Parliament and nine provincial legislatures was allocated to 15 represented political parties. The ANC's R1.72bn allocation includes R905m from Parliament and provincial legislatures, R527m through private funding, and R286m from the IEC-administered represented political…

The two South African engineers who were locked up in Equatorial Guinea’s Mongomo Prison for two years have finally been released. Frederik ‘Frik’ Potgieter, 53, and Peter Huxham, 55, were arrested at their hotel in Malabo in Equatorial Guinea on February 9, 2023, on drug-related charges. They were later found guilty of trafficking and illicit possession of drugs and sentenced to 12 years’ imprisonment each. In addition, they were ordered to pay $5 million (more than R96m) each in damages with an additional $2.5m (more than R48m) fine to be shared between them. They were working offshore in the central African country, and the arrest came just two days after a South African court ordered the seizure of a super yacht, called Blue Shadow, valued above R300 million, and two…

The Junior Springboks are aware of their pool of death for the World Rugby U20 Championship and that it will take a collective effort to reach the tournament’s playoffs. Facing Australia, defending champions England and Scotland in Italy, they will have to win all their games to ensure that they make it out of the group stages to give them the best chance in the knockouts. However, they have experience from playing Australia, New Zealand and Argentina recently in the Rugby Championship on home soil and they feel they are way more prepared for the challenge after a strong build-up to the competition. South Africa’s U20s are under some pressure to win the tournament for the first time since 2012, and after coming up short in two competitions hosted in…

Concerns about international oil prices and global supply chains surged on Sunday following the United States' military strike on three major nuclear sites in Iran. This move, which has escalated ongoing tensions in the Middle East, comes less than two weeks after Iran and Israel reignited hostilities. Analysts on Sunday warned that the fallout from these attacks could have dire implications for the global economy. In a recent televised address, US President Donald Trump described the airstrikes as a "spectacular military success," proclaiming that Iran’s key nuclear enrichment facilities—located in Fordow, Natanz, and Isfahan—have been "completely and totally obliterated." Of biggest concern now is that Iran is mulling the closure of the Strait of Hormuz, a narrow waterway at the mouth of the Persian Gulf controlled by Iran, which is…

In the first four months of this year alone, 482 South African businesses shut their doors. It’s a haunting number not only for our economy but for the families in crisis and the employees out of work. What went wrong? The hard truth is that many of these businesses probably thought they were doing everything right. They had loyal customers. They survived hard times before. But yet, this time they didn’t. One of the most dangerous things in business is the belief that you already know your customer, what worked before will work again and experience equals insight. Longevity isn’t the same as relevance. Just because you’ve been in business for ten years doesn’t mean you know what your customers need right now. Often, business owners mistake time served for…

The Agricultural Business Chamber (Agbiz) and civil society groups have raised concern about rising prices of food in South Africa, largely driven by meat, specifically beef, due to the outbreak of foot-and-mouth disease. Data from Statistics South Africa (Stats SA) last week showed that food inflation increased to 4.4% in May from 3.3% in April, despite the headline consumer inflation remaining unchanged at 2.8%. Wandile Sihlobo, chief economist of Agbiz, acknowledged the acceleration of food price inflation but offered a note of cautious optimism. Sihlobo also noted that other products remained roughly unchanged while others experienced slowing price inflation. “Regarding meat, the key issues that have dominated the headlines are the outbreak of avian influenza in Brazil and its potential impact on domestic poultry supplies and prices. The second concern…

Margaret Thatcher, the Prime Minister of the United Kingdom entered the realm of statistics and ultimately destroyed the Office of the National Statistics (ONS) of the United Kingdom. Felix Romer in a 2022 Journal article titled Poverty, Inequality Statistics and Knowledge Politics Under Thatcher demonstrates thus “Academic experts such as Townsend criticised the government for delays and omissions in official reports and for misleading statistical definitions that deliberately lowered the poverty count.” It took fifteen years of hard work from its former colonies to rebuild the UK ONS by Bill McClennan of Australia and Len Cooke of New Zealand who had to cross seas and continents to go and fix ONS. We do not need that history repeating itself in South Africa. It needs to be nipped in the bud.…

The hosts of the most recent UN climate talks are worried international lenders are retreating from their commitments to help boost funding for developing countries' response to global warming. This anxiety has grown as the Trump administration has slashed foreign aid and discouraged US-based development lenders like the World Bank and the International Monetary Fund (IMF) from focussing on climate finance. Developing nations, excluding China, will need an estimated $1.3 trillion (R23trl) a year by 2035 in financial assistance to transition to renewable energy and climate-proof their economies from increasing weather extremes. But nowhere near this amount has been committed. At last year's UN COP29 summit in Azerbaijan, rich nations agreed to increase climate finance to $300 billion a year by 2035, an amount decried as woefully inadequate. Azerbaijan and…

Since its launch a year ago, the National Financial Ombud Scheme South Africa (NFO) has recovered R328.5 million for consumers who lodged complaints against financial institutions, the organisation announced in a statement on Friday. The NFO is a single, one-stop, dispute resolution service made up of four former longstanding industry ombud schemes: the Ombudsman for Short-Term Insurance, the Ombudsman for Long-term Insurance; the Credit Ombud and Ombudsman for Banking Services. Services are provided free of charge. Between March 1, 2024 and December 31, 2024, the NFO handled 35 855 complaints that had been dealt with by its four divisions, Non-life and Life Insurance, Banking and Credit. Reana Steyn, the head Ombud and CEO of the NFO, said, “This recovery of monies has helped individuals and families regain lost financial stability,…

As the chill of winter settles in, our thoughts often turn to the solace of hearty food. When I think of “comfort food”, my mind immediately drifts to one-pot or one-dish meals that conjure images of cozy evenings spent indoors. These meals, such as soups, stews, and casseroles, embrace the essence of comfort, making them perfect for keeping warm during the colder months. One-pot meals are not only a delightful culinary experience but also a celebration of convenience. They boast an array of benefits: from saving time in the kitchen to reducing the load of dishes awaiting the dishwasher’s embrace. Furthermore, these dishes allow flavours to meld beautifully as they simmer together, creating a symphony of tastes in every bite. With minimal ingredients required, one-pot meals also represent an economical…

Observed annually on 23 June, International Women in Engineering Day celebrates the contributions of women in engineering and encourages more girls and women to pursue careers in the field. The theme for 2025, ‘#TogetherWeEngineer’ underscores the collective efforts of women engineers globally in advancing innovation and fostering positive change. On this Women in Engineering Day, as we celebrate resilience, leadership, and progress, it’s important to reflect not only on the encouraging strides toward gender equity in engineering but also on why engineering—and industrial engineering in particular—is a fantastic career choice for women. While barriers to equitable access still exist in many spaces, the trends are moving in the right direction. Women are not only entering STEM (Science, Technology, Engineering and Mathematics) fields in greater numbers; they are reshaping them from…

The escalating conflict between Iran and Israel, which now includes the US, which carried out attacks on three nuclear sites in Iran yesterday, has resulted in a number of travel advisories and alerts that South African travellers should take note of. The US yesterday joined Israel’s bombing campaign after days of speculation over whether they would be involved in the conflict. In a televised address from the White House, after the strikes, US President Donald Trump said: “Iran's key nuclear enrichment facilities have been completely and totally obliterated. Iran, the bully of the Middle East, must now make peace.” Previously, on June 15, the Department of International Relations (Dirco) urged all South Africans in Iran to contact the Embassy in Tehran to ensure that they are registered with and that…

Police Minister Senzo Mchunu has tightened regulations set out to ensure members of the Directorate for Priority Crime Investigation (the Hawks) are beyond reproach. Mchunu has released amendments to South African Police Service (SAPS) Regulations for the Hawks, which were first introduced in September 2010. In terms of the regulations, Hawks officers are to be subjected to integrity testing, including polygraph, alcohol, and drug tests. In addition, every member, irrespective of rank, shall, no later than April 30 of every year, disclose to the minister his or her registrable business interests, those registrable interests of his or her immediate family members, of which he or she is aware. The regulations also empower the national head of the Hawks to conduct or authorise any member or any other person to conduct…

At a mass funeral in Vryheid in KwaZulu-Natal yesterday, Economic Freedom Fighters (EFF) leader Julius Malema vowed to build houses and dig boreholes for the families of the ten young victims who lost their lives in a bus accident in the province. The tragedy occurred last Monday night near Vryheid when a bus carrying supporters from an EFF rally in uMlazi collided with a long-haul truck, resulting in a catastrophic crash. At the mass funeral, Malema expressed his condolences and promised support to the grieving families. “To the families of these young heroes, we say you are not alone. Your loss is our loss. Your tears are our tears. Your children are not forgotten,” he said. “To die in a revolution must be an honour and so we will honour…

Workers at State-funded poultry producer, Daybreak Foods, have initiated a campaign to secure funding for a business rescue exercise through the Public Investment Corporation (PIC). This comes as they find themselves in a state of limbo since the humanitarian crisis at the company’s farms erupted in early April. The Agricultural Food and Allied Democratic Workers Union (ASADWU) has confirmed the workers' pressing need for financial assistance, highlighting the dire circumstances as they last received their salaries in April. ASADWU secretary general, Sam Dlamini, stressed the urgency of the situation. The coalition of representatives is also appealing for the intervention of the Department of Labour, with hopes that operational activities at farms belonging to Daybreak can be revived while the business rescue process unfolds. "The workers have requested for the release…

Before the government spends R700 million on a(nother) national dialogue, it is reasonable to ask what the dialogue promises to deliver, is this worth more than R700 million and what are the chances the stated objectives will be achieved. Dr Oyama Mabandla, a member of the national dialogue preparatory task team, asks us to give the national dialogue a chance, reminding us that “[t]he national dialogue is an attempt to reinvigorate and fix a dangerously adrift democracy. It will involve the entire populace, instead of the self-selecting and incestuous elites, who have been producing one after another failed plan, while the rest of us have been spectators.” But of course it won't involve the entire populace and the outcome will be a big report that no one reads. How can…

One of the silent tragedies facing thousands of working-class families and homeowners are bank repossessions and auctions of their cars and homes. This is a moment of unbelievable pain that countless workers drowning in debt fear and one that they and their families will never recover from. A cursory read of the National Credit Regulator (NCR)’s reports reveal the shocking levels of debt most consumers find themselves in. These are in the most instance because they have to support spouses who’ve lost jobs, unemployed relatives, cover education fees for their and their siblings’ children, haven’t received an increase, and are struggling to cope with the rising costs of living. As workers borrow money to cope these often come at exorbitant interest rates. Eventually many are borrowing simply to pay…

Kumba Iron Ore on Friday announced a planned leadership transition, with chief financial officer (CFO) Bothwell Mazarura set to step down at the end of the year after nearly eight years with the Anglo American unit. Mazarura, who was appointed CFO and executive director in September 2017, will leave the position on December 31, 2025. He will continue to serve during his six-month notice period to ensure a smooth handover, the company said in a statement. Mazarura will also step down from his roles on the Social, Ethics and Transformation Committee and the Strategy and Investment Committee. “It has been a privilege to serve as CFO of Kumba,” Mazarura said. “The journey has been filled with immense pride in what we have achieved together. While I will leave Kumba later…

The name Sandra Oh immediately conjures up images of the iconic Dr Cristina Yang from Grey’s Anatomy. Her razor-sharp wit, unflinching confidence and the unforgettable “twisted sisterhood” she shared with Meredith Grey became the gold standard for friendship goals. For many, Yang wasn’t just a character; she was a phenomenon one we’re still chasing in our own lives. But Oh is far more than just Yang. And once again, she’s proving she’s a force to be reckoned with, both on and off-screen. This time, Oh isn’t scrubbing in to save lives in a fictional operating room. She’s stepping into the spotlight as a “doctor for real” – well, honorary doctor, but who’s counting? Oh was recently awarded an honorary doctorate from Dartmouth College, joining the Class of 2025 as their…

The Office of the KwaZulu-Natal Premier has dismissed a claim that the premier failed to act when an allegation of gender-based violence (GBV) was reported involving Dr Nonhlanhla Mkhize, the former Director-General of the province, and another senior male staffer. Mkhize resigned shortly after the incident. But she has since submitted a letter explaining the GBV incident and made a request to retract her resignation. In a statement yesterday, the premier’s office said Premier Thami Ntuli has been at the forefront of the fight against GBV. It said the premier received Dr Mkhize’s letter of resignation on the afternoon of June 4, 2025; he considered it and formally handed over the acceptance of the resignation on June 9, 2025. It said at that stage no reasons for her resignation were…

The Department of Correctional Services has allocated R1.2 billion for the provision of food for its more than 100 000 prisoners in the 2025/26 financial year. This is according to Minister Pieter Groenewald's response to parliamentary questions from EFF MP Betty Diale. Groenewald said the department spent R1.4bn on the provision of food for prisoners in the 2023/24 financial year. The amount had increased to R1.5bn in the last financial year that ended in March 2025. “For the 2025/26 financial year, the department allocated R1 286 972 000 for the provision of nutrition to inmates,” he said. In its 2025-2030 strategic plan, the department places the provision of food for prisoners as one of the top four cost drivers of its budget after compensation of employees, property payments, and public-private…

In a groundbreaking judgment regarding general damages to be paid by the health authorities as compensation for an “unconscious claimant”, the Supreme Court of Appeal ruled that such a claimant is not entitled to any award for pain and suffering. This ruling was made in a case where a mother whose child was born with cerebral palsy. The child suffered a severe brain injury at birth due to the negligence of doctors at a Gauteng hospital. The child, represented by his mother, was awarded R13.3m for special damages. This is to make his life a bit easier by acquiring special aids and devices to cope with his needs. In addition, the Gauteng High Court earlier awarded the child R2.2m in his own capacity for general damages. The Gauteng MEC appealed…

Borussia Dortmund rebounded from an early setback to secure a 4-3 victory over Mamelodi Sundowns FC, claiming their first win in Group F of the FIFA Club World Cup 2023. The match kicked off with an unexpected twist; Sundowns’ Brazilian sensation, Lucas Ribeiro, put the South African side ahead just minutes into the game. In a moment that all young footballers dream of, Ribeiro received the ball at midfield, deftly evaded a defender and raced past another, before elegantly finishing past Dortmund's goalkeeper, Gregor Kobel. The goal sent the Sundowns fans into a frenzy, as their team appeared to have rattled the highly regarded Bundesliga outfit early on. However, Dortmund, known for their resilience and attacking prowess, quickly regrouped. The German side’s coaching staff must have lit a fire beneath…

On Saturday, Mamelodi Sundowns drew first blood in their FIFA Club World Cup 2025 clash against German Bundesliga giants Borussia Dortmund, sending shockwaves through the TQL Stadium in Cincinnati, Ohio. Despite their spirited performance, the South Africans ultimately succumbed to class and experience, as Dortmund secured their first win of the tournament with an eventual 4-3 scoreline in a seven-goal thriller. Sundowns capitalised on an early opportunity, surprising the German heavyweights with a well-worked goal that ignited their hopes of an upset. It was a statement moment for the South African side, but their joy was short-lived as Dortmund swiftly rallied. Dortmund, known for their attacking prowess, quickly responded to the challenge. With determination akin to their storied history in European football, the eight-time Bundesliga champions rallied back, firing…