Innholdsfortegnelse for 2025-07-25 i Mercury

The Government Employees Pension Fund (GEPF) has has sounded the alarm on potential reputational risks stemming from serious allegations of maladministration and financial mismanagement at the Government Pensions Administration Agency (GPAA). The GPAA is a government component which reports to the Minister of Finance and administers funds and schemes on behalf of the GEPF, the largest pension fund in Africa. It thus administers the pension affairs of approximately 1.7 million government employees and pensioners, as well as the affairs of their spouses and dependants. The GPAA has been rocked by allegations of serious financial mismanagement of pension funds amounting to more than R500 million after an audit being prepared for the financial year end flagged administration issues. An internal audit report compiled by Abacwaningi Business Solution (ABS) Audit & Advisory…

When news broke that hosting a Formula 1 Grand Prix in South Africa could cost as much as R2 billion, the headlines focused on the bill. The critics warned of wasteful spending. Parliament debated priorities. But while the accountants saw a liability, I saw something very different: 20 000 jobs waiting to be created and an economy in motion. Yes, R2 billion is a significant investment. But as Singapore discovered when it launched its Grand Prix in 2008, the right event can pay for itself many times over. According to the Singapore Tourism Board, the race generates about S$150 million (R2bn) annually in visitor spending and economic impact. Independent studies put the return on investment at three to five times every dollar spent. Apply those multipliers to South Africa, and…

Over the past two decades, the South African rand has become one of the most telling indicators of the country’s exposure to both global financial cycles and domestic structural weaknesses. For investors, executives, and wealth holders, understanding this dynamic is essential not just for economic literacy but for protecting long-term financial security. In the early 2000s, South Africa rode the wave of the global commodity super-cycle. High Chinese demand and soaring metals prices brought in foreign capital, bolstered tax revenue, and gave the illusion of macroeconomic stability. The rand strengthened, albeit temporarily, and many assumed that South Africa had entered a phase of sustainable growth. But the post-2008 world exposed the underlying vulnerabilities. While quantitative easing in the US flooded emerging markets with liquidity, South Africa’s domestic policy response was…

Anglo American saw generally lower production of its metals and minerals in the second quarter as it advances the sale of the diamond group De Beers as part of a substantial portfolio simplification strategy. The global mining group said in a production report on Thursday for the second quarter to June 30 that rough diamond production fell 36%, while copper production fell 11% during the three months due to sluggish demand. The group is restructuring its portfolio to focus on copper, as it is a key metal in the burgeoning demand for electric vehicles and renewable energy infrastructure. The group is also focused on iron ore. The changes follow an attempt by BHP to take it over last year. Anglo American directors said Thursday that the demerger of its platinum…

Tesla fell short of Wall Street’s expectations in one of the automaker’s worst quarters in years, a sign of the toll that rising competition and a backlash against CEO Elon Musk have taken on the company. Adjusted earnings were 40 cents per share, Tesla said Wednesday in a statement, just below the average analyst estimate. Revenue fell 12% to $22.5 billion (R396bn), the sharpest decline in at least a decade. Still, the report was free of new bombshells and the company said it continues to move forward with robotaxi and affordable-vehicle plans, providing a measure of relief for investors. That comes “despite a sustained uncertain macroeconomic environment resulting from shifting tariffs, unclear impacts from changes to fiscal policy and political sentiment,” Tesla said. The revenue drop was due to a…

The biological father of twins conceived by artificial fertilisation and who are now nearly four years old, said he simply donated his gametes to the mother and should thus not be regarded as their father, nor should he be held responsible for their upbringing. The father turned to the Gauteng High Court, Johannesburg, for an order absolving him of any parental responsibilities. This is after the mother of the twins, his former girlfriend, turned to the maintenance court to hold him financially responsible for their upbringing. The applicant told the court that he and the mother of the twins, who had no children before he donated his gametes, were involved in a relationship for about three years. After they broke up, they resumed seeing each other, communicated via WhatsApp,…

A total of forty five witnesses will testify for the State in the murder trial of slain South African rapper Kiernan ‘AKA’ Forbes and his friend Tebello ‘Tibz’ Motsoane. A pre-trial conference was held in the Durban High Court yesterday regarding the matter to ensure that minor issues are ironed out before the trial starts next year. Lindokuhle Mkhwanazi, Lindani Ndimande, Siyanda Myeza, Mziwethemba Gwabeni, and Lindokuhle Lindo Ndimande are charged with the murders of Forbes and Motsoane, who were gunned down in Durban on Florida Road in February 2023. The two friends were killed outside Wish restaurant, which has since closed down. State senior prosecutor, Elvis Gcweka, told the court that Section 220 admissions have been made by the accused. Section 220 of the Criminal Procedure Act allows formal…

The Renault Duster has been a mainstay of the brand for many years and has an almost cult-like following in certain circles, especially the diesel off-road versions. They recently revamped the entire SUV range, which included dropping the well-loved diesel engine and replacing it with petrol and mild hybrid versions. There was much gnashing of teeth when the diesel mill was dropped, but whether we like it or not, Europe sees it as the devil’s brew, so we need to come to terms with it. The Renault Duster is a result of the joint venture between themselves and Romanian subsidiary brand Dasia and it is built on the Common Module Family-B build platform also utilised across several of Renault’s products, including the fifth-generation Clio, the second-generation Captur, the Arkana, the…

Changan Automobile is returning to South Africa in the fourth quarter of 2025 with local distributor Jameel Motors set to offer five distinct models that cover the bakkie, medium SUV, compact sedan and EV sectors – click here to learn more about the initial line-up. That range is set to expand during the course of 2026 with additional Changan SUV models and another Deepal-branded electric vehicle (EV), Jameel Motors SA country manager Marinus Venter told IOL. On the SUV front, the midsize CS75 Pro that launches in late 2025, will be joined by a smaller SUV called the CS655. This model is about 30cm shorter than its sibling and it is set to compete with the Chery Tiggo 7 Pro. Later in 2026, another new model called the CS35 will…

There is no shortage of Springbok supporters considering the big question: Who will start at flyhalf for South Africa against the All Blacks in Auckland this September? Few fans have a definitive answer, and it’s doubtful whether Rassie Erasmus is entirely certain either. The fact that Erasmus must weigh up the unique strengths of Sacha Feinberg-Mngomezulu, Manie Libbok and Handré Pollard — and still not have a clear frontrunner — speaks to the Springboks’ remarkable depth as they build towards the Rugby Championship. That campaign kicks off with back-to-back clashes against the Wallabies on 16 August in Johannesburg and a week later in Cape Town. It is during those two Tests that Erasmus must settle on the half-back pairing that gives the Boks the best chance of claiming a historic…

Central bank says it and Ibex Group have resolved all the disputes in a “comprehensive settlement” The South African Reserve Bank’s (SARB’s) seven-year probe into now-defunct Steinhoff’s alleged breach of Exchange Control Regulations has finally been concluded with an agreement that what is now Ibex Group will no longer try to recoup a previously forfeited R6.3 billion. In a statement released on Thursday, the central bank said that it and Ibex Group had resolved all the disputes between the two parties in a “comprehensive settlement”. “Both SARB and the Ibex Group consider the settlement reasonable, proportionate and justifiable in light of the complex and competing interests,” the central bank’s statement said. “SARB and the Ibex Group consider this final settlement to be in the best interests of South Africa." SARB…

South Africa’s red meat industry is a cornerstone of the rural economy, particularly for emerging and communal livestock farmers. Yet, their aspirations - and the broader goals of inclusive growth outlined in the Agriculture and Agro-processing Master Plan (AAMP) - are persistently undermined by a recurring threat: foot and mouth disease (FMD). Recent FMD outbreaks, most notably in Limpopo, KwaZulu-Natal, and parts of the Free State, have exposed the fragility of South Africa’s disease control systems. The economic fallout is staggering. Export bans, movement restrictions, and culling have cost the country billions in trade revenue, while simultaneously crippling market access for smallholder producers. For emerging farmers, who are already navigating structural disadvantages in the meat value chain, the disruption is not just economic - it’s existential. FMD is not a…

Diversification is one of the most talked-about principles in investing, and yet one of the most poorly executed in practice. While almost everyone has heard the advice, “don’t put all your eggs in one basket”, applying it effectively to your own portfolio can be easier said than done. At its core, diversification is about reducing risk without sacrificing return. It’s one of the few free lunches in investing, but that doesn’t mean it’s as simple as owning a bit of everything and hoping for the best. It’s about owning the right mix, for the right reasons, at the right time. Decide on your risk appetite first Before you can diversify, you need to understand your personal risk profile. Are you risk-averse and inclined towards stability? Or are you in a…

Kumba Iron Ore’s operational performance continues to improve, and it has made progress on the ultra-high-dense-media separation (UHDMS) project to increase the premium proportion of production and enhance margins. This was according to Kumba’s CE Mpumi Zikalala, who said in a production report and trading statement for the six months to June 30 that total production was flat at 18.2 million tons (Mt), and there was an increase in sales on the back of improved logistics stability. “As a result, we have maintained our full-year 2025 guidance at 35 – 37 Mt for both production and sales,” she said. Headline earnings for the half-year were likely to be between R6.84 billion and R7.34bn, varying by between 4% and 3% from the previous six months ended June 30, 2024. Headline earnings…

EFF leader Julius Malema yesterday expressed his approval of the newly established parliamentary Ad Hoc Committee tasked with investigating serious allegations raised by KwaZulu-Natal Police Commissioner, Lieutenant-General Nhlanhla Mkhwanazi. This move, described by Malema as an “important step in the right direction”, aims to shed light on what he termed “pure criminality” within the SAPS. Speaking during a media briefing in Cape Town, Malema said he was happy that the Ad Hoc Committee was given the green light to conduct the investigation. “It is an important step in the right direction. What is happening in the police is pure criminality and we have to deal with that,” he said. On Wednesday night, Parliament unanimously agreed to form the 11-member committee that will probe the allegations by Mkhwanazi and report to…

The National Assembly passed the Budget for 2025/26 late on Wednesday before transmitting the Appropriation Bill to the National Council of Provinces (NCOP) for concurrence. The Bill was initially passed during the First Reading when it mustered 262 votes against 90 votes. The schedule of all the departmental votes later sailed smoothly when 260 voted in favour and 88 against. The Second Reading of the Appropriation Bill was agreed to after the MK Party, which changed its support and blamed confusion on mistaking its vote for the Ad Hoc Committee established to probe allegations made by KwaZulu-Natal police commissioner Lieutenant-General Nhlanhla Mkhwanazi. However, the DA became the toast of some parties during the earlier vote for the Human Settlements Department budget. The party had threatened not to vote for the…

One of the six Umkhonto weSizwe Party (MKP) members of KwaZulu- Natal legislature who voted against the Division of Revenue Bill has defended their decision and accused the party’s Members of the Provincial Legislature (MPLs) who supported it as out of line. In an unprecedented move, six party MPLs broke ranks with the caucus and voted against the bill while 31 other members supported it during the chamber sitting last week, prompting calls for action against the “rebelling” MPLs. A member, who spoke on condition of anonymity, yesterday denied going against the party’s official position, saying it was him and the other five members who kept the long-standing position and voted against the bill. He stated that the new chief whip did not call a caucus meeting before voting and…

While the smaller Chery Tiggo 4 Pro sets the sales charts alight in South Africa with its sharp pricing, two slightly larger models are fighting for a smaller share of the pie just above that. One of these is the Chery Tiggo 7, which has just received a comprehensive facelift and range realignment to shift it a notch or two more upmarket, presumably so it clashes less with the recently introduced Chery Tiggo Cross. The upgraded Chery Tiggo 7, which now rolls off the tongue a little easier thanks to the “Pro” being dropped from the end of its name, hits the market in three new specification flavours. The 1.5T Prime kicks things off at R429,900, with the 1.6T Prestige taking the middle ground at R499,900 and the 1.6T Legacy…

Max Verstappen and Red Bull seek a successful re-set of their season as they launch a new era at this weekend's Belgian Grand Prix, their first without Christian Horner in charge. As Formula One resumes after a mini-break McLaren duo Oscar Piastri and Lando Norris intensify their duel to succeed the Dutchman as world champion. While Norris seeks his third consecutive win in a bid to reduce team-mate Piastri's eight-point lead it will be Red Bull under the greatest scrutiny as they embark on a new adventure under Frenchman Laurent Mekies. Never before has a Red Bull team raced without the 51-year-old Briton Horner, who was dismissed unexpectedly two weeks ago following 20 years of success, including guiding Verstappen to four consecutive world titles from 2021-2024. His successor Mekies, promoted…

Gavin Hunt is a lover of fine, old and young things in life. As such, expectations are high for him to live his best life at Durban City in the upcoming campaign. Hunt was announced as City’s head coach this month, and the club has been pulling out all the stops to satisfy his desires. The Team of Choice pulled a rabbit out of the hat earlier this week, announcing Supertech as their vehicle sponsor – the brand behind luxury automotives such as BMW. Hunt was seen in high spirits during the announcement, posing beside a sizzling new BMW together with club boss Farook Kadodia. But Hunt is not only expected to drive in style off the field. The club is also backing him on the pitch with hisZZ favourite…

Rob Valetini was named yesterday in Australia’s side for the second Test against the British and Irish Lions in Melbourne – a significant boost for the Wallabies ahead of a clash they must win to keep the series alive. Back-row marauder Valetini, hooker David Porecki and lock Will Skelton all return from injury to add physicality to a Wallabies team that was outmuscled as a hardened Lions side claimed a 27-19 victory in the opening Test in Brisbane. There were no major selection surprises, with head coach Joe Schmidt sticking with an unchanged backline for Saturday’s match, set to be played in front of an estimated 90,000 spectators at the Melbourne Cricket Ground. Valetini, named Australia’s best player in each of the past two seasons, has recovered from a calf…

Kaizer Chiefs’ midfielder Thabo Cele has lifted the lid on the team’s camaraderie and their chances of a change of fortunes ahead of the upcoming Premier Soccer League season. Chiefs recently returned from a two-week pre-season tour of the Netherlands where they tested themselves against Dutch outfits. The results didn’t go their way as they lost four games and won one. But that didn’t matter as coach Nasreddine Nabi was pleased with the lessons learned. Chiefs will continue to intensify their preparations for next season when they face Asante Kotoko of Ghana in the Toyota Cup at Moses Mabhida tomorrow (3pm). Cele, who was speaking to Chiefs’ media following a rousing welcome at King Shaka International Airport Thursday afternoon, explained what it meant to be back on home soil. “It’s…

South Africa continued to work tirelessly discussing with its counterparts in the US to keep the trade route open and having submitted the Framework Deal in May, South Africa has signed a condition precedent document with the office of the US Trade Representative, a precursor to finalisation of the negotiations, Minister of Trade, Industry and Competition Parks Tau said in his budget vote. Tau said the collective work of business, organised labour and civil society, in engaging the US Congress is also a key lever in South Africa's toolkit in its approach to ensuring the continued inclusion of South Africa in the Africa Growth and Opportunity Act and to respond to the recently proposed US-South Africa Bilateral Relations Review Act. "Our active engagements with Asia are significantly bearing fruit.…

ESKOM has been ordered to pay close to R1 billion to French nuclear contractor Framatome, after the Western Cape High Court found the utility refused to pay damages after it cancelled a contract to install steam generators at Koeberg nuclear power station. The ruling stems from a 2014 agreement Eskom originally concluded with Areva, which was later ceded to Framatome. The deal covered the design, manufacture and installation of six replacement steam generators – three for each unit at Koeberg. Framatome, which has been in operation for 60 years, was contracted to supply and install two sets of three replacement steam generators, one set to be installed in each of the reactor buildings at units 1 and 2 at Koeberg during separate planned outages of these units. These installations were…

Building financial resilience requires effective financial planning, which in turn helps you meet your financial goals. However, this also comes with the responsibility of being disciplined and being prepared to learn and unlearn what you know about finances and money management. Savings month presents the opportunity to help you understand that saving and setting financial goals is not as difficult as it seems - it just requires discipline and commitment to balance short- and long-term planning, which helps you to be in a better position to meet your goals. Saving is not just about putting away money for rainy days; it's about gaining peace of mind and flexibility to weather life's uncertainties while working toward long-term prosperity. This savings month, take the time to balance your financial planning and goals,…

Primary Health Properties (PHP), a leading investor in modern healthcare properties in the UK and Ireland, released its interim results for the six months to June 30, 2025, which showed its earnings grew amid an increase in rental income across its portfolio and after its Irish acquisition. PHP is London listed and secondary listed on the JSE. Net rental income increased by 3.1% to £78.6 million (R1.4 billion). Adjusted earnings per share increased by 2.3% to 3.54 pence, headline earnings per share decreased by 5.9% % to 3.2 pence, earnings per share increased to 4.4 pence, while dividends per share increased by 2.9% to 3.55 pence. PHP’s adjusted earnings increased by 2.2% to £47.3m in the reporting period, driven by organic rental growth from rent reviews and asset management…

KwaZulu-Natal Education MEC Sipho Hlomuka has addressed the allegations surrounding irregularities in the National School Nutrition Programme (NSNP) tender process, amid calls for his resignation by the MK Party and concerns raised by the DA. This follows allegations from the NSNP association of service providers that the R2.9-billion tender process was manipulated for political gain. In an interview with television news channel Newzroom Africa, Hlomuka acknowledged receiving complaints from various parties but emphasised that the accounting officer and relevant authorities are handling the procurement processes. “We're receiving several complaints from various service providers, stakeholders, and other political parties. However, as an MEC in the Department of Education, having received those complaints, I also engaged the MEC for Finance in the province to look into the matter,” Hlomuka said. He added,…

The findings of the latest Durban Business Confidence Index (BCI) are raising concerns about future economic growth in the City, with the report indicating that businesses are increasingly pessimistic. The Business Confidence Index assesses business confidence in the City, and the latest findings highlight significant concerns regarding the overall business climate. The report is compiled by the Macroeconomics Research Unit at the University of KwaZulu-Natal. The report presents the Durban BCI for the second quarter of 2025 (2025Q2). The index ranges from 0 to 100, where a score below 50 implies a lack of confidence in the Durban economy, a score of 50 indicates that the business situation is normal or neutral, and a score above 50 denotes confidence in the economy. “The Durban BCI continued to decline for a…

The Interpol National Central Bureau (NCB) in Pretoria, in conjunction with the South African Police Service (SAPS), has arrested a Chinese fugitive at Sandton. The Chinese national is wanted in the People’s Republic of China, in connection with a case of fraud. SAPS spokesperson Lieutenant Colonel Amanda van Wyk said law enforcement agencies in South Africa continue to record commendable successes in dismantling transnational crime syndicates and arresting international fugitives in the country. “This week, the Interpol NCB Pretoria extradition team arrested a 57-year-old Chinese fugitive who is reportedly linked to a case of fraud reported in China,” said Van Wyk. “According to a preliminary report, Interpol circulated a red notice to all member countries to locate and provisionally arrest the Chinese national.” The suspect reportedly applied for a visa…

An ordinary morning at the Gondwana Private Game Reserve in the Western Cape had a tragic turn when the reserve's CEO and co-owner, FC Conradie, was fatally trampled by an elephant. The 39-year-old wildlife advocate and respected conservation leader lost his life during an incident that has left the reserve community and conservationists shaken. According to Warrant Officer Kappie Kapp of the KwaNonqaba Police Station, the fatal incident occurred at around 8am on Tuesday this week. Witnesses reported that the elephant charged at Conradie and trampled him. Emergency medical services were called but he was declared dead at the scene . "The elephant involved in the incident has since been moved from the area as a precaution," said Kapp, adding that an investigation is underway to establish the full circumstances…

The fifth round of the Extreme Festival and the Toyota GR Cup was everything we expected and dollops more as we tackled the blisteringly fast East London Grand Prix Circuit. It was a race that hovered constantly in the background as the season progressed due to its unforgiving nature, legendary fast bends, tight infield and hairpin corners. As a result, Toyota Gazoo South Africa (TGRSA) had arranged for us to spend time on the simulator at their headquarters at Zwartkops under the watchful eye of instructor Devon Scott, so that we at least had an idea of the layout before getting in behind the wheel of our GR Yaris. Practice We were out early for practice on Friday morning to experience first-hand Potters Pass, a fast sweeping righthander, followed by…

Springbok lock forward Vainah Ubisi has revealed that her immense desire to be part of next month’s Rugby World Cup in England was the fuel that fired her towards a comeback against the Black Ferns XV at Athlone Stadium on Saturday. Ubisi, who has not featured for the Bok Women since last year’s WXV 2 clash at the same venue after rupturing her Anterior Cruciate Ligament (ACL), was included in Performance Coach Swys de Bruin’s starting team yesterday for the historic clash. The Bulls Daisies star has spent the intermittent months down in Stellenbosch Academy of Sport (SAS) where she underwent an intensive individual rehabilitation programme. “When I got injured last year, that's what was in my mind. If I'm going to make it to the World Cup squad, if…

Jermaine Seoposenwe owes football everything. So, as she prepares for her last Banyana Banyana appearance, she bows out with gratitude and pride. Banyana will face Ghana in the Women’s Africa Cup of Nations third-place play-off at Stade El Arbi Zaouli in Casablanca today (kick-off 6pm). The clash is set to mark Seoposenwe’s final outing with Banyana after she announced, prior to the tournament, that she would retire from international football after its conclusion. The 31-year-old will leave behind a decorated international career, having earned more than 100 caps, won the Wafcon title and played in two World Cups. Her journey with the national team endeared her to fans across the continent and the world, thanks to her silky playing style and eye for goal. Speaking at the pre-match press conference…