Innholdsfortegnelse for 2025-06-25 i Mercury

Transport Minister, Barbara Creecy, has revealed that Transnet has approached the National Treasury for significant short-term infrastructural development funds in a bid to tackle deep-rooted challenges within South Africa's rail system. This appeal for funds required in July and October aimed to expedite tonnage haulage and improve revenue generation for the struggling rail entity. Appearing on the PSG Wealth Think Big interview on Tuesday, Creecy highlighted these urgent financial requests amid rising concerns expressed by Moody's Ratings agency last month. The agency pointed to Transnet's unsustainable capital structure, deteriorating liquidity position, and the lack of clarity on future government support, compounded by slower-than-anticipated operational improvements. Creecy stated that concerns would persist without new investments in rail infrastructure, hence Transnet has put in a request "to the budget facility for infrastructure,…

Lungelo Lethu Human Rights Foundation condemns banks legal action against homeowners South Africa’s major banks will finally defend themselves in court over claims that they repossessed hundreds, if not thousands, of people’s homes and sold them far below market value, cheating them of the earned interest on those properties over years. This comes as the South Gauteng High Court in Johannesburg has set down the matter, which is a R60 billion class action suit, against the country’s major banks to be heard in February 2026, nearly a decade after it was launched in 2017. This legal challenge aims to hold financial institutions accountable for pri- oritising profit recovery above the rights and dignity of homeowners.. Advocate Douglas Shaw from Banking Law Advisor and the claimants’ representative confirmed to Business Report…

Investor sentiment towards South African platinum miners has shown a marked improvement recently, buoyed by a significant rise in platinum prices, signaling a potential shift in the market landscape. After enduring a protracted period of depressed investor interest driven by low prices and concerns about the market’s stability—largely influenced by the increasing popularity of electric vehicles—platinum group metals are experiencing a notable resurgence. Mining analyst Keenen Du Toit this week said that the platinum prices this month “jumped to $1 300 per ounce – the highest since 2014” although “still significantly lagging the big move up” in gold. “Historically the PGM basket price has traded closely to gold, and even above in many cases,” said Du Toit. Now, South African fund managers surveyed by Bank of America (BofA) Securities said…

Capital Appreciation’s payments and software divisions attracted new clients, initiated new projects with existing clients, and renewed long-term contracts, the fintech group’s annual results for the year to March 31 showed. Investors appeared heartened by the results, as the share price had risen 8.43% to R1.80 per share by Tuesday afternoon, while the JSE All Share Index was up by only 0.53% at the same time. Capital Appreciation's share price has gained 45% over a year. “Capital Appreciation’s businesses are well positioned, and the prospects are encouraging. With the pace of technological advances and the digital transformation needs evident throughout the economy, we anticipate the current prospective pipeline will transform positively as further business,” CEO Bradley Sacks said in a statement. He said that over the past eight years, they…

AH-Vest minority shareholders are being offered 55 cents a share in cash as part of plans to delist the company, a price that represents a whopping 1833% premium over the 3 cents market price when the company first cautioned about a possible transaction. The shares traditionally trade very rarely, and on Tuesday, they were still untraded at 3 cents a share, despite the announcement of the plans to delist via a scheme of arrangement. AH-Vest is a South African food manufacturing company best known for its range of sauces and condiments, including its All Joy brand. The plan to delist from the JSE’s AltX board comes at a time when the JSE has undertaken several initiatives to make it easier and less costly for small and medium-sized businesses to list.…

A Mpumalanga court has granted two brothers temporary relief, allowing limited grazing on a piece of land whose ownership is disputed, arguing that their claim to the land was ignored. The judge said that the two brothers “were excluded from a statutory process through no fault of their own”. The court found that interim relief was justified because the state failed to process the Mnisi claim alongside that of 93-year-old Kuyiti Nkambule's claim. Nkambule was granted the land under a 2022 court-approved settlement to graze cattle. According to the ruling in the Mnisi case, the Registrar of Deeds as well as the Land Reform and Rural Development Department must investigate the Mnisi brothers’ claim to rights over a part of a farm in Mpumalanga. It also stated that the registrar…

The Standing Committee on Public Accounts (Scopa) yesterday said it had decided to institute a parliamentary inquiry into the affairs of the troubled Road Accident Fund (RAF). Scopa chairperson Songezo Zibi made the proposal that the committee look into matters related to maladministration and allegations made about the institution. “There are lots of allegations and counter-allegations. Everybody involved needs to get their opportunity to present their side of the story before the committee. We need to give everyone an opportunity and to do so under oath,” Zibi said. Briefing the MPs, Zibi referred a memorandum to the committee’s secretariat to prepare on issues that have beset the RAF. “The ministry and RAF sent an enormous volume of documents. We synthesised them and prepared a memo and shared with members. The…

Durban is set to receive a massive boost of around R690 million to its economy as the highly anticipated Hollywoodbets Durban July horse racing event returns on July 5, 2025. According to a statement issued to the media by eThekwini Municipality yesterday, the event is expected to draw around 45 000 visitors, creating thousands of jobs and benefiting local businesses across sectors such as fashion, hospitality, and transport. Last year’s race saw the racecourse "packed to capacity with more than 50 000 spectators". “The Hollywoodbets Durban July is one of the major events on the City’s calendar and is a drawcard that brings people from across the country and beyond to Durban. It is an event that has a huge economic impact on the City," the City said. “Projections show…

The British and Irish Lions are demanding that top Wallabies players appear for their Super Rugby sides to ensure warm-up matches provide meaningful preparation for the three-Test series. The Lions arrived in Perth on Sunday night, where they will face Super Rugby side Western Force in their opening match on Australian soil this Saturday. The Force are set to field five Wallabies – Nick Champion de Crespigny, Dylan Pietsch, Tom Robertson, Darcy Swain and Nic White – who have all been released from Australia’s training camp in Sydney. However, teammates Carlo Tizzano and Ben Donaldson have been retained in the Wallabies camp by Australia head coach Joe Schmidt. “We’ll see a competitive fixture at the weekend, and that’s what we’re looking for,” said Lions chief executive Ben Calveley, who reminded…

Tuesday marked the 30th anniversary of the Springboks’ 1995 Rugby World Cup triumph. Who could forget June 24, 1995, the epic final against the All Blacks at Ellis Park? Since then, there has been a remarkable period of success for the Boks, with John Smit’s Class of 2007 conquering the world in France, and then Siya Kolisi’s band of warriors in 2019 in Japan and 2023 in France once more. I was fortunate enough to be at the 2019 edition, and it was an unforgettable seven weeks reporting on the Springboks. The Boks’ trophy success, especially under Rassie Erasmus’ watch over the last few years, has been as impactful on the pitch as it has been off it. But it doesn’t mean that it was always smooth sailing. In any…

The National Treasury has called for more cooperation among the Group of 20 (G20) countries for the benefit of low-income economies on the back of escalating geopolitical tensions. This call comes amid concerns that ongoing conflicts—particularly in the Middle East, a crucial region for global oil supply—and heightened trade tensions between the United States and China are casting a long shadow over the global economy. Speaking at the opening day of the Supreme Audit Institutions of the G20 nations (SAI20) on Tuesday, deputy finance minister David Masondo reflected on the recent G20 finance meetings, where the global economic landscape was painted with uncertainty due to geopolitical tensions and trade fragmentation. Masondo said the G20 had to play a central role in fostering stability and strategic direction during this period of…

The world is facing the "most complex" geopolitical situation seen in decades, the head of the World Economic Forum (WEF) told AFP Tuesday, warning that turmoil was "impacting global growth". "It is the most complex geopolitical and geo-economic backdrop we've seen in decades," WEF President and CEO Borge Brende said ahead of a meeting of the multilateral forum in the northern Chinese city of Tianjin. "If we are not able to revive growth again, we can unfortunately see a decade of lower growth," he warned. Officials including Singaporean Prime Minister Lawrence Wong will attend this week's WEF meeting in the port city of Tianjin - known colloquially as the "Summer Davos". The meeting comes hard on the heels of the US' involvement in the Iran-Israel conflict and follows months in…

South Africa’s Home Affairs Department is facing a backlash from fintech TymeBank over its decision to raise fees for real-time identity verification services by 6 500%, a move it argues is necessary to safeguard national security and fix a failing system. Digital lender TymeBank on Tuesday accused the government of adopting an “anti-poor” and “anti-competitive” policy after the Department of Home Affairs gazetted new tariffs for banks and financial institutions accessing the National Population Register (NPR). The bank said the sharp increase in costs – from R0.15 to R10 per real-time verification – would unravel years of progress in digital transformation and financial inclusion. TymeBank co-founder and CEO Coenraad Jonker warned that the new fees, effective July 1, would make it impossible to offer South Africa’s only accessible, zero-fee bank…

JUWI Renewable Energies, a global renewable energy leader, on Tuesday announced that it has signed two solar module supply agreements with JA Solar, one of the world’s leading manufacturers of high-performance photovoltaic (PV) technology. The deal is for nearly 420 000 solar panels for two large-scale projects totalling 220 MW, currently being executed for major industrial energy users including Glencore, Sasol and Air Liquide. The projects include the 100 MW Sonvanger Solar Plant for Glencore, developed in partnership with Pele Green Energy, and the 120 MW Paarde Valley PV2 project for Sasol and Air Liquide, delivered with TotalEnergies, Mulilo and Reatile Group. Together, the projects will come online in late 2026 and use enough solar panels to cover over 160 rugby fields. The latest milestone forms part of JUWI’s broader…

Construction markets in Zimbabwe and South Africa are expected to continue on a growth trajectory, providing a strong background for companies such as PPC that are ramping up competitiveness to stand better prospects against imports. Data from researchers on Tuesday showed that the South African cement market reached approximately 13.78 million metric tons in 2024 and “is expected to grow steadily” over the coming 10 years, with an annual growth rate of 2.50% projected from 2025 to 2034. Zimbabwe has also seen a booming construction sector with government projects and the retail sector, as well as residential housing sector providing impetus. This was benefiting construction industry companies such as cement and brick manufacturers among others. Matias Cardarelli, the CEO of PPC, said the company was cautiously optimistic of the infrastructure…

The ANC in KwaZulu-Natal has announced that a breakthrough has been made in the ongoing challenges affecting Ithala SOC Limited and it is expected that liquidation proceedings against the financial institution will be halted. It said the breakthrough was as a result of ANC KZN engagements with Minister of Finance Enoch Godongwana. ANC KZN leaders Jeff Radebe and Mike Mabuyakhulu announced this at a media briefing in Durban yesterday. They stated that the ANC could not allow Ithala to be liquidated, as this would have a destructive impact across the province. The issue stems from Ithala not having a banking licence. While it did not have a licence, Ithala had been operating as a bank as it had been granted an exemption by the Finance Minister. However, this expired in…

In a historic showcase of numismatic treasures, a curated selection of ancient Chinese coins alongside modern rarities, including the coveted 1992 1 oz Gold Krugerrand, will come up for auction. This auction is poised to capture the imagination of collectors and history enthusiasts alike as it ventures into a global sphere of numismatics rarely seen in South Africa. Among the standout pieces is a rare bronze coin dating back to 475 BC, which provides a tangible connection to the ancient dynasties that ruled long before the emergence of the Roman Empire and centuries prior to the establishment of Afrikaans or contemporary South Africa. The inclusion of such artifacts marks a bold leap for Bassani into uncharted territory within the world of coin collecting. The auction’s modern highlight—the 1992 1oz…

Democratic Alliance leader John Steenhuisen has admitted that the Government of National Unity (GNU) has experienced a “tough” first year but said progress is being made and many priorities are on track. “Yes, it’s been a tough year — a year of many ups and downs, but I think the GNU has survived a year. Many people never thought it would last more than a few months, yet here we are,” Steenhuisen said. He was speaking in Hanover Park, Cape Town, where the DA celebrated its 25th anniversary since its formation. The GNU, formed following the May 2024 general elections, came after the African National Congress (ANC) failed to secure a majority for the first time since the advent of democracy in 1994. The coalition includes the ANC, the…

A construction tragedy resulted in the death of one person and the injury of four others in Durban yesterday. The incident took place just before 11.30 am at a shopping centre off Umgeni Road in Springfield Park. ALS Paramedics spokesperson Garrith Jamieson said construction teams were working on scaffolding when the scaffolding gave way. “Paramedics arrived at the scene to find the five workers had fallen six metres to the ground. Multiple casualties were found having sustained serious injuries, and immediately, more ambulances and advanced life support paramedics were dispatched to assist,” Jamieson said. He said one person was declared dead at the scene. “One person, a male, believed to be 40, sustained major injuries. “There was nothing paramedics could do for him, and he was declared deceased on the…

From the intensity of local competition to the bright lights of continental football, Mamelodi Sundowns have grown into one of South Africa’s most successful and respected clubs. Their dominance at home has been matched by a hunger to make their mark internationally – most notably with their 2016 CAF Champions League triumph, a victory that made headlines across Africa and announced their arrival on the global stage. Now, in just their second appearance at the Fifa Club World Cup, the Brazilians find themselves on the verge of another milestone. With a proud record already behind them, they head into their final group stage clash against Brazilian giants Fluminense at the Hard Rock Stadium (9pm kick-off) on Wednesday, aiming not just to compete, but to add another memorable moment to their…

At 37, there isn’t much that Cian Healy hasn’t seen on a rugby field. The loosehead prop played in a record 137 Test matches for Ireland, and earned 291 caps for his beloved Leinster, which is also the most for the province. Add in four Champions Cup titles, eight URC trophies – including one just two weeks ago against the Bulls – and five Six Nations triumphs, and it has been a wonderful career. But just when Healy was hoping to enjoy his swansong for the Barbarians against the Springboks at Cape Town Stadium on Saturday (5.10pm kick-off), he quickly realised that it won’t just be a walk in the park. Told by Independent Media yesterday that the Boks have picked Lions juggernaut Asenathi Ntlabakanye at tighthead prop, Healy gasped…

Wimbledon organisers are planning to honour two-time champion Andy Murray with a statue at the All England Club. Murray, who ended a 77-year wait for a British winner of the men's singles title in 2013 before winning again in 2016, retired after the Paris Olympics last year. Wimbledon hope the statue will be revealed in 2027 during the championship’s 150th anniversary. “We are looking to have a statue of Andy Murray here (at Wimbledon) and we’re working closely with him and his team,” All England Club chair Debbie Jevans told the ainslie + ainslie Performance People podcast. “The ambition is that we would unveil that at the 150th anniversary of our first Championship, which was 1877. He’s got to rightly be very involved in that, and he and his team…

Cape Town City’s Betway Premiership status will be on the line when they travel to Rustenburg to face Orbit College in a high-stakes PSL Promotion/Relegation Playoff clash on Wednesday afternoon. Kick-off is set for 3pm at Olympia Park, and the match could prove decisive in determining both the final promotion spot and the relegated side. Orbit College currently top the playoff mini-league with five points after three matches, while City are second with two points from two games. A victory for the Motsepe Foundation Championship side will see them reach eight points – an unassailable lead in the standings – which would confirm their historic promotion to the Betway Premiership and simultaneously relegate Cape Town City to the second tier for the first time in the club’s eight-year existence. The…

The latest Quarterly Employment Statistics (QES) released by Statistics South Africa (Stats SA) for the quarter ended in March has raised significant concerns as the report reveals a downturn in employment figures, exacerbating fears about the health of South Africa’s economy. According to the findings, a total of 74 000 jobs were lost in the first quarter of 2025, signalling a decrease of 0.7% from December 2024, where total employment stood at 10 653 000, dipping to 10 579 000 by March. The decline is largely attributed to substantial job losses in key sectors, including trade, which saw a steep reduction of 52 000 positions, and community services, which lost 17 000 jobs. The mining sector also contributed to this downturn, shedding 4 000 jobs, while business services, construction, and…

The ongoing conflict in the Middle East continues to unsettle markets – but perhaps to a lesser degree than investors feared. Despite the intervention of the US, markets’ reaction has been contained. Oil prices initially rose, reaching over $81 (R1465) a barrel, but quickly fell back to their range of the previous week. Global conflict often transmits into wider economic and market performance via inflation, and energy prices are a key contributor. This is why, during geopolitical flashpoints, the oil price becomes a point of focus. What factors are influencing oil prices in relation to today’s Middle East crisis? Oversupply of oil keeps prices under $80 a barrel. The global economy currently enjoys a healthy oil surplus. This helps keep prices in the mid to low $70s, a historically moderate…

While South Africa faces many social and economic challenges, such as food insecurity and high unemployment rates, agriculture remains a vital economic sector for our growth, development and sustainable livelihoods. The stakes are exceptionally high as the effects of climate change continue to ripple across various economic sectors. Addressing this crisis is no longer about environmental stewardship but an imperative to ensure equity, resilience, and prosperity for all South Africans. Our agricultural sector is already bearing the brunt of a rapidly changing climate including as a result of disruptions in value chains which the sector needs to operate with optimally productivity. Rising temperatures, unpredictable rainfall, and increasingly frequent extreme weather events such as droughts, floods, and storms are now commonplace. These disruptions reduce yields, shift growing seasons, and exacerbate pest…

South African executives are operating in an environment of “constant crisis”, with rising compliance and political risks adding to the geopolitical, scarce skills, growing regulatory burden, low economic growth, and environment risks that are being faced by their global peers. This was according to Richard Walker, BDO South Africa's National Head of Risk Advisory Services, who spoke on Tuesday about the main findings from BDO’s newly released Global Risk Landscape Report 2025. The report found that while 84% of 500 senior global executives describe their operating environment as one of "constant crisis," only 7% feel genuinely proactive in their risk management approach. The need to continually adopt a cautious approach may come at the cost of growth and competitiveness in the business," said Walker in a presentation. The global risk…

The National Financial Ombud Scheme South Africa (NFO) has emphasised the need for fairness from financial institutions after intervening in a case where a bank sold a home for just R10 000 due to a client's home loan arrears. The intervention of the NFO led to the bank writing off the client’s home loan arrears of more than R233 000. The details of the matter are contained in the NFO’s recently released 2024 annual report. Between 1 March 2024 and 31 December 2024, the NFO handled 35 855 complaints that were dealt with by its four divisions: non-life and life insurance, banking and credit. According to the report, in a complaint handled by the ombud’s banking division, a complainant held a home loan account with a bank and the account…

TRADE, Industry and Competition Minister Parks Tau said yesterday he discharged his responsibilities to the best of his abilities when dealing with the application process for the award of the fourth lottery operator licence. The licence was awarded to Sizekhaya Holdings. Briefing the portfolio committee, Tau said the process of appointing the national lottery operator was designed to have multiple steps. “This process ensures necessary checks and balances are in place for the appointment of the national lottery operator,” he said. Tau also said when he took over as the minister last year, he had inherited a process of awarding the fourth national lotteries operator, after the licence of Ithuba Holdings was extended for two years. “The request for proposals for the fourth operator was issued and eight applications were…

The Proteas Women’s team may have lost a second successive T20I series since finishing runners-up at last year’s ICC T20 World Cup, but they are beginning to unearth a group of promising youngsters to take the team forward. The squad’s dependence on a core group of senior players has long been a concerning factor, but there are signs that the next generation are starting to stake a claim for more prominent roles. Last month’s ODI Tri-Series, involving hosts Sri Lanka and India, saw allrounder Annerie Dercksen take centre stage by dominating with the bat, which was highlighted by her maiden ODI century. Although it would have been hoped that Dercksen would build on the momentum in the Caribbean during the subsequent ODI and T20I series against the West Indies –…

All the big names and rising stars set to headline Season 4 of SA20 will be confirmed at the fourth annual player auction, scheduled to take place in Johannesburg later this year. The event promises a shake-up across squads and high-stakes bidding, with a minimum of 72 player slots available. Squad composition rules remain unchanged, as the league continues to prioritise opportunities for local talent on a global platform. Of the 18 players permitted in a regular squad, teams may include a maximum of seven overseas players and must select at least 11 South African players. Season 4 will again allow teams to sign one Wildcard player – South African or overseas – whose fee falls outside the salary cap. Ahead of the auction, franchises are allowed no more than…

For all the excuses – and there have been many – one line from Antoine Griezmann cut straight to the heart of the matter after Atletico Madrid’s Club World Cup elimination. “We have to look at ourselves and see that there are times when we are not at the level, and we have to resolve that,” said the veteran French forward. Griezmann’s goal earned Atletico a 1-0 win over Botafogo on Monday, but the Brazilian side progressed ahead of the Spaniards on goal difference to reach the Club World Cup last 16. Atletico were left licking their wounds, just as they were after failing to win a major trophy this season. Their controversial Champions League last 16 elimination by Real Madrid – after Julian Alvarez’s “double-touch” penalty – left Atletico…

After arriving last season alongside Vusumuzi Vilakazi as co-coach, Arthur Zwane now finds himself solely in charge of AmaZulu – a club brimming with ambition and in the midst of a major rebuild. Vilakazi has moved on, and Zwane is now tasked with steering the ship alone, at a time when Usuthu have made clear their intentions to challenge for silverware and return to continental football. A sixth-place finish last season secured them a spot in the upcoming MTN8, but the KwaZulu-Natal side want more – and their decision to release 17 players during the off-season signals just how serious they are about writing a new chapter. Here, Smiso Msomi looks at three critical steps Zwane must take if he is to elevate AmaZulu to the next level. Establish a…