Innholdsfortegnelse for 2025-07-04 i Mercury

A new report from SwissAid has uncovered the extensive involvement of corrupt officials in the illicit trade and laundering of South Africa’s gold. The report, released on Wednesday, highlights the grim reality that both criminal syndicates and complicit high-ranking officials are exacerbating the country's struggle with illegal gold exports, a trade that has turned opaque due to poor accounting of imports and exports. Further compounding the situation is a thriving informal gold sector through illegal miners known as "Zama Zamas", dealers and buyers. This provides a fertile ground for the proliferation of illicit trade in gold which is then officially exported to destinations such as Dubai in the united Arab Emitates. South Africa used to be one of Africa’s largest gold producers. Currently, large scale gold mining in South Africa…

As South Africa is gearing up to host the world’s leaders at the G20 Plenary Summit in November 2025, one question looms large – how can we leverage the world’s attention to boost job creation and grow the economy inclusively? There are many lessons to be applied in leveraging the G20 presidency for job creation - in particular India’s 2023 hosting offers a compelling job creation blueprint for South Africa. By focusing on infrastructure, tourism, foreign investment, SME development, and workforce upskilling, India created over one million jobs before, during, and after the summit. South Africa can replicate and refine this model to leave a lasting economic impact. Here's how South Africa can maximize the G20 opportunity for job creation. Infrastructure Development: A Boom for Construction and Urban Jobs Hosting…

Entering retirement in good health is a blessing, but it also brings with it the challenge of planning for a much longer life. While being free of illness can create a sense of security, it’s important not to become complacent. Here are ten financial planning considerations if you're healthy heading into retirement: 1. Good health today doesn’t guarantee good health tomorrow: Being fit and healthy now doesn’t eliminate the risk of age-related illness later on, especially as conditions such as heart disease, dementia, and cancer become more likely as you age. Don’t let your current good health tempt you into cancelling or downgrading your medical aid or gap cover. Remember, if you downgrade, you can only upgrade again at the start of the next benefit year. Also, when budgeting,…

Reinet Investments, after days of media speculation, said Thursday that Athora Holdings had approached it about selling its stake in UK-based Pension Insurance Corporation Group (PIC) as part of a wider deal worth about £5.7 billion (R136.4bn). The deal could push Athora, which operates in the savings and retirement services markets in countries including Germany, Belgium, and the Netherlands, into the UK, believed to be the largest retirement market in Europe. The PIC manages about £50bn in assets and has nearly 400,000 policyholders in the UK. Reinet Investments, which is also listed on the Euronext Amsterdam and Luxembourg Stock Exchanges, said the announcement on the talks followed further press speculation concerning the possibility of a sale of PIC, in which Reinet owns an indirect 49.5 percent interest. Reinet, which had…

The Minerals Council of South Africa has raised concerns over the approval by government of an export tax on ferrochrome concentrates and welcomed the Cabinet's adoption of preferential electricity tariffs for ferrochrome smelters. Chrome mining has been one of the best-performing subsectors of the South African mining sector, with data from Statistics SA showing that chrome production increased by an average of 8.4% between 1994 and 2024 on an inflation adjusted basis. This reflects an accelerated pace of growth than the 1.3% recorded for non-gold production in South Africa over the same period. It was against this backdrop that the Minerals Council on Thursday said it was concerned by the approval by Cabinet of an export tax on ferrochrome concentrates. “A particular concern in the Cabinet statement is the approval…

KwaZulu-Natal’s Co-operative Governance and Traditional Affairs (Cogta) MEC, Reverend Thulasizwe Buthelezi, has called on communities to exercise extreme caution when using heating appliances such as braziers and generators. He was speaking following the death of nine individuals over the weekend due to winter season-related incidents. The first incident, which occurred in Pietermaritzburg, claimed the lives of seven men between the ages of 17 and 50. Reports from the Provincial Disaster Management Centre indicate that these men gathered at a household located in Henley Dam, near KwaMnyandu, after attending an event on Saturday. The group lit a fire (imbawula) inside the rondavel. The men succumbed to suspected smoke inhalation, and their lifeless bodies were discovered by family members the following morning. Among the dead were four members of the Mtshali family…

Correctional Services Minister Pieter Groenewald has put forward the suggestion of corporal punishment being reintroduced as part of the national debate on crime and justice reform in South Africa. Speaking during his budget vote debate in Parliament this week, Groenewald laid bare the depth of the crisis facing the Department of Correctional Services (DCS), pointing to overcrowded prisons, deteriorating infrastructure, and a strained parole system. Groenewald turned to a controversial but deliberate proposal: the reinstatement of corporal punishment. “We must start a debate to say, shouldn’t we bring back corporal punishment?” he said. Groenewald's proposal comes despite corporal punishment having been outlawed in South African schools since 1996, with subsequent legal rulings extending the ban to the home. The minister did not specify in what settings and under what…

Suspended Road Accident Fund (RAF) chief executive Collins Letsoalo has hit back at the judge who refused to lift his suspension, citing nearly 40 points in which he claimed the judge had erred in his judgment. Letsoalo has applied for leave to appeal against last month’s judgment in the Gauteng High Court, Pretoria. In a scathing judgment, Judge Nasious Moshoanathe said Letsoalo's application was vexatious. He found Letsoalo’s suspension effected by the RAF Board earlier this month to be lawful, rational and reasonable. While the judge had some harsh words regarding Letsoalo’s earlier urgent application, the suspended CEO will again have to face the judge in court, as Judge Moshoanathe will have to decide whether to grant him leave to appeal. In his leave to appeal application, Letsoalo remarked that…

On the landscape of South African football, the tale of triumph and resilience continues to captivate and inspire following Banyana Banyana and Amajita's conquests in Africa despite significant challenges. As a result of inadequate financial backing, high operational costs, player bonuses, staff salaries, infrastructure limitations and a lack of proper training facilities all combine to hinder a team's success. These systemic issues strip away the potential for continuous success and leave players reliant on their inner fortitude. South African teams exhibit admirable tenacity and spirit. However, their future success may depend more on comprehensive structural reforms rather than the sheer determination of the players. In May 2025, South Africa's U-20 men's team clinched their maiden AFCON title through a narrow 1-0 win against Morocco in hostile Cairo. This hard-fought triumph…

Owen Farrell received a shock British and Irish Lions call-up yesterday after utility back Elliot Daly was ruled out of the Australia tour, with his father, head coach Andy Farrell, citing experience in defending the decision. The 33-year-old former England captain, a three-time Lions tourist, earned the last of his 112 Test caps at the 2023 World Cup and has not played any rugby for nearly nine weeks after suffering a concussion. But the fly-half is a proven international performer, and his father said the call-up was justified. “When you look at the experience that Elliot’s had – I mean, the experience isn’t just the playing side – it’s how you make the group feel, the little chats that you have around the place to make sure that everything’s gelled…

As the European Commission (EC) gears up to launch plans for a Carbon Border Adjustment Mechanism (CBAM) in early 2026, South African industries are left contemplating the potential ramifications of this new regulatory framework. Affecting key sectors such as aluminium, steel, fertilizers, electrical energy, hydrogen, and cement, the proposed measures aim to mitigate risks of carbon leakage while promoting a low-carbon economy. The EC announced on Thursday that it was actively working on proposals to support producers in sectors identified as vulnerable to carbon leakage. Acknowledging the environmental challenges posed by differing climate policies globally, the Commission is keen to ensure that substantial carbon emissions do not simply shift from the European Union (EU) to nations with less stringent regulations. "The proposal, which is expected to be made by the…

Having recently participated in the Global Internet Governance Forum (IGF), I left with one burning realisation: South Africa’s digital future depends on how quickly and boldly we reform our ICT policy landscape. The IGF discussions revealed a sobering geopolitical reality: ICT infrastructure is no longer just about connectivity or convenience; it has become a strategic asset, a tool of control, and, in many ways, a modern currency in the global power play. Subsea cables, Low Earth Orbit (LEO) satellite networks, radio frequency spectrum, and hyperscale data centres are now at the heart of geopolitical influence. The Global North is rapidly consolidat ing control over these digital arteries, ensuring that data traffic, internet governance decisions, and emerging technologies remain within their sphere of influence. Sub-Saharan Africa, including South Africa, is heavily…

Understanding “offshore” starts with one simple certainty: nothing in the South African Income Tax or Reserve Bank regulations prohibits South Africans from opening a bank or investment account, or setting up an offshore trust. Placing money offshore is often a prudent financial strategy. Exposure to international assets offers three vital benefits. It hedges against rand depreciation, enables portfolio diversification, and opens up access to a broader range of investment opportunities. In most cases, opening an offshore bank account is advisable early on, especially for individuals who earn income abroad or operate a business with international exposure. Banking offshore is a relatively straightforward way to begin building financial resilience and global diversification. Setting up an offshore trust, on the other hand, is typically a more advanced step. It becomes appropriate when…

Tongaat Hulett’s (THL) three South African sugar mills, Maidstone, Amatikulu and Felixton, which benefited from capital investment since the group went into business rescue, have ranked as the top three nationally for sugar recovery in the current sugar milling season. The recognition indicates the scale of THL’s operational turnaround since entering business rescue in October 2022 - the group said in a statement Thursday its mills were now not only stable, but leading performance across the broader South African sugar sector. Tongaat Hulett CEO Gavin Dalgleish, together with the Business Rescue Practitioners (BRPs), recently met with grower representatives in a series of engagements. These meetings focused on sharing updates about the company’s progress under business rescue, as well as the improvements seen across its milling and refining operations. The group’s…

Land reform beneficiaries in South Africa are experiencing major challenges in making land productive and benefiting from it due to the lack of post-settlement support. This is because the country’s land reform focuses solely on redistribution and not on equipping beneficiaries with the necessary technical, infrastructural, and financial support to sustain that land, which is an important component in making land redistribution successful but is ignored, according to experts. Dr Shenelle Lottering, from the University of KwaZulu-Natal’s College of Agriculture, Engineering and Science, said inputs such as seeds and fertilisers, even basic farming equipment and training, are either limited or absent. She said this creates a situation where, despite having land, many beneficiaries struggle to farm productively. “Customary land tenure adds another layer of complexity, because it is governed communally…

Transport Minister Barbara Creecy has said the limited availability of state resources to fund infrastructure development made private sector investment critical. Delivering her budget speech in the National Assembly this week, Creecy said the department had concluded a Request for Information process to guide private sector investment in five priority rail and port corridors. “Transnet will issue Requests for Proposals from the end of August 2025, and so begin the formal procurement process,” she said. Creecy also said they have to enhance the involvement of additional operators as a way of extending freight logistics capabilities of the country and region, beyond what the public sector alone would have been able to accomplish. “It is important to point out that as an economy, we need freight logistics operators that can compete,…

George Russell heads into his home British Grand Prix this weekend haunted by rumours and unconfirmed reports that fierce rival and four-time world champion Max Verstappen has accepted an offer to replace him at Mercedes next year. As Formula One returns to the circuit that hosted its first world championship race 75 years ago, the 27-year-old Briton may find himself caught on the horns of an extraordinary dilemma as he seeks a fifth career victory to secure both his seat and his future with the Silver Arrows. If he wins – and overhauls Verstappen in the drivers' title race – he may in so doing allow the Dutchman, also 27, to trigger an exit clause in his Red Bull contract, which currently runs to 2028. It is widely believed that…

Orlando Pirates have made the biggest splash during the transfer window thus far, strengthening the team to challenge Mamelodi Sundowns for the Betway Premiership trophy next season. While the arrival of 10 new players has signalled their intentions, the squad is now bloated and they’ll have to trim some of the fat. I look at five players that the club must offload in the next few weeks to streamline their resources. Phillip Ndlondlo – midfielder The diminutive midfielder is one of the most accurate passers of the ball in top-flight, something that makes him stand out. But while he can easily link up play, Ndlondlo has struggled in defensive situations and scoring crucial goals. As such, those shortcomings in his game haven’t made him that midfield all-rounder. Hence, he finds…

Nolusindiso Booi will lead the Springbok Women in her 51st cap when they take on second-ranked Canada tomorrow in Pretoria in one of their toughest World Cup preparation matches to date. The Bok Women selected a core of experienced players for the first of two Tests as they look to up the intensity ahead of the tournament starting next month in England. Only five players in the starting XV have less than 20 caps, but they are all in the double figures as performance coach Swys de Bruin and his assistants look to lay a strong marker at Loftus Versfeld (1.30 pm kick-off). Eight players have experience against Canada, with scrumhalf Tayla Kinsey, tighthead prop Babalwa Latsha, Booi, winger Jakkie Cilliers, flyhalf Libbie Janse van Rensburg, No 8 Aseza Hele,…

United Nations says corporations are facilitating system of exploitative occupation The United Nations (UN) Special Rapporteur on human rights in the occupied Palestinian territories has unveiled a report listing up to 48 multinational corporations allegedly complicit in the ongoing war and profiting from the occupation of Palestine. The findings, presented by Francesca Albanese during a media briefing in Geneva on Thursday, accuse these corporations of failing to uphold their legal responsibilities, thereby facilitating a system of exploitative occupation. Albanese's report highlights a troubling landscape where corporations across various sectors—including weapons manufacturers, technology firms, financial institutions, and construction companies—are said to be contributing to what she describes as a “livestreamed genocide.” The findings underscore a broader complicity, presenting a picture where corporate interests overshadow profound ethical considerations regarding human rights violations…

South Africa's private sector economy has signalled a concerning shift towards fragility, as evidenced by the latest S&P Global Purchasing Managers’ Index (PMI). The PMI, which serves as a composite indicator of operating conditions in the private sector, revealed a notable decline on Thursday, dropping from 50.8 in May to 50.1 in June. This reading, while remaining barely within the expansion territory, raises red flags as business confidence plummeted to its lowest point in nearly four years. The PMI serves as a crucial economic barometer; readings above 50 indicate an improvement in business conditions compared to the prior month, while readings below this threshold reflect deterioration. This S&P economic indicator corresponds with the Absa PMI released on Tuesday, which showed that the economy remained in contractionary territory for the eighth…

Financial scams are evolving rapidly, and some of the most deceptive ones no longer begin with cold calls or phishing emails, but with what seems like a genuine and personal conversation, says financial services provider FNB. The bank warns that romantic financial scams, often disguised as sincere relationships, are defrauding people of millions. “In a growing trend locally, reminiscent of what viewers saw in the Netflix documentary The Tinder Swindler, scammers use charm, digital intimacy, and emotional manipulation to swindle unsuspecting victims out of thousands of rands,” the group says. FNB integrated advice product head Ester Ochse warns that these scams are on the rise, particularly targeting individuals who are active on dating platforms or those who engage regularly on social media. “Romance scams are not just about emotional manipulation;…

South Africans living and working abroad are being urged to take note of recent changes by the South African Revenue Service (Sars) that significantly alter how non-residency for tax purposes is treated and enforced. According to Thomas Lobban, Director of Tax and Legal at Latita Africa, Sars has quietly amended its Notice of Non-Resident Tax Status to now include the specific legal basis - such as reliance on a double tax agreement - for ceasing South African tax residency. While the change appears administrative, Lobban says it marks a crucial shift in Sars’ oversight of taxpayers living outside the country. Coupled with the 2025 requirement for taxpayers to declare their residency status to Sars, this change dramatically increases the risk of residency audits and backdated reclassification, especially for South…

Tributes are pouring in for former Deputy President David Mabuza, who died yesterday, aged 64. He served as deputy to President Cyril Ramaphosa during his first term. Mabuza was remembered as a dominant politician and a committed and humble cadre who dedicated his life to the service of the people of South Africa. ANC secretary-general Fikile Mbalula yesterday confirmed the news and extended his condolences to the Mabuza family. “It is with deep sorrow and a heavy heart that we learn of the passing of the former Deputy President of the Republic and stalwart of our movement, Comrade David Dabede Mabuza,” Mbalula said. He described Mabuza as a patriot and freedom fighter. “We have lost a patriot, a freedom fighter, and a leader who served with humility and conviction. May…

As the 2025 tax season looks set to begin, the South African Revenue Service (Sars) has issued a fresh warning to taxpayers about a new scam designed to steal personal information under the guise of a tax refund audit. The tax filing season will run from July 7 to October 20 for most individuals, with many being auto-assessed based on third-party data. “The taxpayers in the auto-assessment category do not have to do anything if they are satisfied with the calculation on their tax returns,” Sars said. “If the taxpayer is of the opinion that Sars has not captured all the necessary information, they are free to make changes on their tax returns and submit the missing information through eFiling by October 20.” The revenue collector said taxpayers who are…

The uMkhonto weSizwe Party (MKP) has confirmed that Colleen Makhubele remains in her position as chief whip, despite purported suggestions of a petition from other party members calling for her removal. At a press briefing held in Parliament yesterday, MKP parliamentary leader Dr John Hlophe said a claim that a letter had been sent to party president Jacob Zuma calling for him to oust Makhubele was false. “There is no letter, there is no petition, in terms of which MPs are calling for the head of the Chief Whip. This is a figment of someone’s imagination,” said Hlophe. “Quite frankly, I would have been the first person to receive that petition. I asked President Zuma as late as last night. There is no such letter. Comrade Colleen Makhubele remains the…

Novak Djokovic crushed British wildcard Dan Evans in the Wimbledon second round as he stepped up his bid for a record 25th Grand Slam title. After three days of stunning upsets at Wimbledon, Djokovic avoided becoming the latest star to crash out in second-round action. The Serb needed just one hour and 47 minutes to dispatch Evans with a ruthless 6-3, 6-2, 6-0 victory on Centre Court. “It means I've been playing quite a long time!" Djokovic said, when told he had just secured his 99th Wimbledon match victory. “I still enjoy it. This court has given me so much. Wimbledon has a special place in my heart. Any history made here is obviously extra special." Djokovic is dreaming of putting an exclamation point on his incredible career by becoming…

Veteran Willie le Roux is set to earn his 99th cap for the Springboks off the bench tomorrow against Italy, with his century to follow shortly thereafter according to Bok mentor Rassie Erasmus. If all goes to plan in the first Test against the Italians and he is fit, Le Roux could run out in Gqeberha for his hundredth game for the national team. However, there is also a Georgia Test in Nelspruit where he could feature to get him to the milestone. Erasmus has set certain targets for the Boks over the next three games. Should they reach their first tomorrow at Loftus Versfeld (5pm kick-off), the home ground of Le Roux, the fullback will be on the verge of joining a select group of Springboks who have played…