Innholdsfortegnelse for 2025-07-31 i Mercury

Minister for Electricity and Energy, Kgosientso Ramokgopa, has emphasised the urgent need for a fundamental reconfiguration of the global energy finance architecture. Speaking at the third Energy Transitions Working Group meeting under South Africa’s G20 Presidency, he called for a transition from pledges to tangible execution, particularly in light of recent commitments exceeding R1 billion towards the implementation of JET programmes. Ramokgopa asserted that the credibility of the global transition hinges on the timely and effective mobilization of financial resources to where they are most needed. "Finance must become a tool of inclusion, not a barrier to participation. Scaling up climate and energy finance is not only urgent, but also central to closing the infrastructure gap, addressing energy poverty, and driving structural transformation and industrialisation," Ramokgopa said. "We must shift…

The July 2025 Household Affordability Index unveiled a complex landscape for South African consumers as the average cost of a staple food basket slightly decreased to R5,442.72, a modest dip of R0.41 from June 2025. Despite this month-on-month improvement, a stark year-on-year increase of R190.57 (3.6%) painted a troubling picture for households relying on basic foodstuffs. Compiled from 44 basic food items across 47 supermarkets and 32 butcheries in regions including Johannesburg, Durban, and Cape Town, the report reflects a nuanced reality. It showed that of the tracked foods, 17 saw price increases while 26 experienced reductions. Only one food item remained unchanged, presenting a slightly positive note for consumers grappling with financial pressures. Price variability: the details behind the numbers Individual price movements revealed significant fluctuations within the basket.…

In June this year, the Financial Action Task Force’s (FATF) Strasbourg Plenary deemed South Africa successful in “substantially completing” its 22-item Action Plan for removal from the FATF greylist. This has set the stage for an authorised onsite visit in October when FATF will determine whether South Africa can finally be scrubbed from the greylist. Despite the considerable progress we have made, this is “not a time for complacency”, as the South African Reserve Bank (SARB) has cautioned. FATF will not be satisfied by a box-checking exercise and will expect to see signs of sustainable improvement in South Africa’s compliance culture. All stakeholders in the financial system face a huge task to surmount this hurdle of delisting. The onsite assessment: a key milestone in the journey towards greylist removal FATF’s…

If you’re an entrepreneur, chances are you chose this path to build a better future for yourself and your family by turning your passion into a business. It’s a bold and rewarding journey, but one that often comes with unexpected challenges, especially when it comes to financial administration and tax compliance. What begins as a dream can quickly become overwhelming as the day-to-day realities of managing finances take hold. It’s not a lack of drive or talent that holds business owners back, it’s the weight of spreadsheets, scattered receipts, and time-consuming manual processes. To truly thrive, entrepreneurs need more than just tools; they need guidance, visibility, and systems designed to grow with them that simplify complexity and support them at every stage of the journey. These challenges can stall momentum…

Diversified mining resources group Glencore reviewed its industrial asset portfolio in the six months to June 30, identified $1 billion of cost savings to be realised by the end of 2026, and closed two ferroalloys smelters in South Africa. “A comprehensive review of our industrial asset portfolio recognised opportunities to streamline our industrial operating structure, to optimise departmental management and reporting, and to support enhanced technical excellence and operational focus,” CEO Gary Nagle said at the release of a production report on Wednesday. The review of the sustainability of the ferroalloys smelting operations was done. The Boshoek and Wonderkop smelters in the North West Province were indefinitely suspended in May and June 2025, respectively, "pending sufficient recovery in the ferrochrome market." Operations at the Lion smelter, in Limpopo, were temporarily…

A transgender prisoner serving a life sentence at Johannesburg’s “Sun City” Prison will turn to the Equality Court in a bid to receive gender-affirming care, in the form of hormone replacement therapy. The prisoner, only identified as NM, said in an affidavit that she was assigned the male gender at birth, and although her identity document still reflects her birth name, she asked the court to hear her application under her chosen female name. She is asking the court to declare that the prison authorities are unfairly discriminating against her in not allowing her to wear her female clothes and cosmetics in prison. NM also wants to be addressed as a female and for the officials to use the pronoun her/she in addressing her. She also wants assistance from the…

Economists have warned that South Africans are falling into unsustainable debt by using credit to purchase basic necessities such as groceries, fuel and electricity. They say this shift is financially dangerous and structurally damaging to household stability. This follows a warning from the National Financial Ombud Scheme South Africa (NFO), which flagged a sharp rise in consumer credit defaults. TransUnion’s Q1 2025 Industry Insights Report shows that 41.3% of non-bank personal loan accounts are now more than three months in arrears, the highest serious delinquency rate recorded in over three years. Retail instalment account defaults stand at 27.1%, clothing accounts at 25.9%, and revolving credit at 14.9%. According to the report, uptake of these products is also increasing, with retail instalment credit up 16%, clothing credit up 7.6%, and revolving…

The KwaZulu-Natal Department of Education has sought to defend the process followed to award tenders for the National School Nutrition Programme (NSNP), stating that the process was above board. In a statement, the department addressed allegations raised on social media platforms and by some mainstream media organisations alleging that irregularities were involved in the manner in which the NSNP tender was processed. MEC Sipho Hlomuka has come under fire amid allegations that some of those awarded tenders had close links to him or to the ANC. There have been growing calls for Premier Thami Ntuli to intervene in the matter. He recently stated that he had asked for a report on the issue from the MEC. The department confirmed that it had received written questions from Basic Education Minister Siviwe…

The KwaZulu-Natal Department of Agriculture and Rural Development (DARD) has allocated R134.3 million to support livestock improvement, particularly mitigating foot-and-mouth disease (FMD). MEC Thembeni kaMadlopha-Mthethwa made the announcement during her 2025/26 budget vote in the KZN legislature this week. KaMadlopha-Mthethwa stated that mandatory veterinary services for clients will be enhanced in the current financial year to ensure healthy animals, sustainable and profitable animal production enterprises, safe trade in animals and products of animal origin, and the well-being of animals and the public. She said seven new outbreaks were reported in KZN in February and March this year, bringing the total number of outbreaks in the province to 164. As a result, the national Cabinet supported extending KZN’s Disease Management Area (DMA) boundaries to curb further FMD outbreaks. The areas include…

Springboks coach Rassie Erasmus knows he is heading towards a point in the journey to the 2027 Rugby World Cup where he will have to make some big calls as far as some of his senior stars are concerned. It’s been clear since the end of the triumphant 2023 Rugby World Cup in France that some of the players who won back-to-back Webb-Ellis trophies with Erasmus may not make it to Australia in two years’ time. Some of the stalwarts of the South African game are close to the rugby twilight. Over the last 18 months Erasmus has had bloated Bok squads and has handed almost 20 players their debuts during that time. This year, for the home Tests against Italy and Georgia, the Boks operated with a squad of…

TEMBA Bavuma is set to complete a year of huge achievement when the Cricket SA Awards will be held at Emperors Palace on Thursday evening. Bavuma had an outstanding year both as leader and player. Although the Proteas’ epic World Test Championship final victory over Australia at Lord’s last month does not fall within the judging period - 1 May 2024 to 30 April 2025 - Bavuma was still a standout performer and is the favourite to be crowned SA Cricketer of the Year, Test Cricketer of the Year and Fan’s Player of the Year. He was splendid during the Proteas’ march to the WTC Final with 609 runs at an average of 60.90, which included two centuries against Sri Lanka and Pakistan. Bavuma also boasts a 100% captaincy record…

Trump administration refuses to give feedback on the Framework proposed by South Africa The Business 20 (B20) South Africa has expressed confidence in negotiations between South Africa’s government and the United States amidst freezing diplomatic and trade relations ahead of the G20 Summit to be held in Johannesburg later in the year. This comes as US President Donald Trump said on Tuesday he might skip the upcoming Group of 20 (G20) leaders' summit in South Africa in November and send someone else to represent the United States, citing his disapproval of South African policies. B20 Sherpa, Cas Coovadia, said on Wednesday they were ramping up efforts to foster collaboration among nations, with the US taking a central role. Coovadia said recent discussions led by B20 representatives have underscored the undeniable…

South Africa’s sugarcane growers are expecting a significantly improved harvest this season, following a rebound in rainfall after last year’s drier-than-normal conditions. The current estimate for the 2025 season stands at 17.7 million tons of sugarcane, up from 16.47 million tons in the previous year – which was the lowest crop in eight seasons. While this recovery in yield is welcome news, the industry’s economic outlook remains under serious threat due to delays in adjusting South Africa’s import tariff, the flood of cheap imports into the country and the looming 30% tariff from the United States on South African sugar exports. The delay in adjusting our own sugar import tariff to reflect current global realities is undermining the competitiveness of local producers. At the same time, the US tariff threatens…

The Startup20 (SU20) midterm engagement was, by all accounts, a success. It brought together taskforce members, youth leaders, global partners, and policy stakeholders in a high energy environment designed to move beyond rhetoric and into action. There was a shared sense of urgency and commitment to shaping meaningful, global policy proposals ahead of the G20 Summit in November. In her address, Minister of Small Business Development Stella Ndabeni-Abrahams highlighted the significance of South Africa’s G20 Presidency under the theme "Solidarity, Equality and Sustainability," calling for urgent reform of global trade and financial systems to better serve vulnerable economies and communities. She stressed the importance of Micro, Small and Medium Enterprises (MSMEs) in driving inclusive growth, innovation, and resilience, particularly within underserved rural and township communities. The Minister underscored the need…

AECI’s strong 132% increase in headline earnings a share to 604 cents in the six months to June 30 is unlikely to be repeated in the second half due to slightly slower progress on a strategy to optimise the global mining, chemicals, and agri-health business. Revenue from continuing operations fell 2% to R15.69 billion, while earnings before interest, tax, depreciation, and amortisation (EBITDA) from continuing operations increased by 24% to R1.58bn. A 100 cent a share dividend was declared - no dividend was paid out at the same time last year. “Despite some setbacks in strategy execution, particularly under the value unlock pillar, our strategy remains intact, with clear progress against key milestones in the period. Going into the second half, I look forward to continuing our international growth while…

Northern Cape base metals developer, Orion Minerals, is now focused on project financing and concentrate offtake agreements following share placement and share purchase schemes this month as the company further develops its copper projects. Orion’s latest capital raise comprised of a placement of 289 million shares and an agreement to convert outstanding loan amounts to equity through the issue of 233 million shares for R67 million. Additionally, the copper mine is undertaking a share purchase plan “to be offered to provide eligible shareholders with the opportunity to subscribe for as much as R355 000 in in new shares” to raise A$4 million. The share purchase plan opened this month and will close next week. Funds raised from the share placement and share purchase plan “will be used principally to partially…

ActionSA has formally written to Mpumalanga Premier Mandla Ndlovu to seek a detailed disclosure of the government’s reported process to recover the bodies of the Lily Mine workers — Yvonne Mnisi, Pretty Nkambule, and Solomon Nyerende — who were trapped underground when a part of the mine collapsed in 2016. While ActionSA welcomes the provincial government’s recent update that confirmed an estimated R18 million budget and the involvement of the new investor, we express frustration over the long delays and previous exclusion from meaningful consultation. Our numerous efforts, including through our members of parliament and members of the Mpumalanga legislature, have either been ignored or given the runaround. It is critical that government transparency be coupled with urgency in recovering the remains safely and swiftly. In our letter to Premier…

The KwaZulu-Natal Department of Transport has cancelled two contracts, one of which was valued at over R80 million, and is on the verge of cancelling several other contracts due to poor contractor performance. These contractors could also face penalties and recoveries for failed projects, the department warned. The department said 30 contracts are at risk of cancellation due to the poor performance of the awarded contractors. Transport MEC Siboniso Duma warned that the cancellation of contracts is just the beginning for contractors who fail to deliver. The department declined to comment on how much the contractors were paid for the two contracts which have been cancelled. It said it will first need to assess how much work has been done. “We have projects that are underway, valued at R5 billion.…

The eThekwini Transport Authority (ETA) has presented a new strategy for the GO!Durban public transport programme which is aimed at overcoming key challenges in its implementation. In its efforts to address setbacks, including the prolonged negotiations with the minibus taxi and bus industries that have stalled progress since 2021, the ETA’s new strategy comes after several engagements, the eThekwini Municipality said in a statement. “The revised plan was shaped through extensive engagements and collaboration with government stakeholders, focusing on ensuring that the rollout aligns seamlessly with the overarching objectives of the National Department of Transport,” the City said. According to Nelisiwe Zama, acting director of ETA, this updated approach is pivotal to the maturation of a world-class public transport system that prioritises inclusivity and sustainability. “We are determined to deliver…

The Formula 1 season continues to thrill, with McLaren drivers Oscar Piastri and Lando Norris locked in a fierce battle for the championship. Heading into the Hungarian Grand Prix, Piastri holds a slender 16-point lead over his teammate following a dominant win in Belgium — but according to McLaren CEO Zak Brown, the fight between the two is too close to call. Speaking to Sky Sports F1, Brown admitted that there is little to separate Piastri and Norris on current form, with the team having secured 10 wins from 13 races so far this season — most of them one-twos. “They both do because they’re winning a lot and getting one-twos,” Brown said, when asked who currently holds the momentum. “I think Oscar was a little disappointed with qualifying in…

When the Soweto giants Orlando Pirates and Kaizer Chiefs come calling, there are few players that can deny the temptation. So, when Fawaaz Basadien finally completed his move to Mamelodi Sundowns, over the past weekend as per Independent Media’s exclusive earlier in the week, it would have hurt the traditional big guns of South African football. But the reality was that the biggest competitor to Sundowns for Basadien’s signature had actually hailed from North Africa, according to the Bafana Bafana wing-back’s agent Basia Michaels of QT Sports. Furthermore, Basadien was keen to explore the prospect of moving abroad. Having interviewed Basadien regularly over the past 12 months, he spoke openly about how much he enjoyed Stellenbosch FC’s Caf Confederation Cup adventures last season, particularly the trip to Cairo when Stellies…

The African Continental Free Trade Area (AfCFTA) secretariat has this far done its work in developing updated cutting edge policies, including those of digital trade and digital identity for people and goods, throwing the gauntlet to governments to commit finance and practical trade across the continent, AfCFTA Director for Coordination and Programmes Tsotetsi Makong said on Wednesday. Speaking at the 2025 TIPS Forum, which seeks to deepen understanding of the implications of the AfCFTA and regional integration on industrial development in Southern Africa, Makong said the continent continued to lose capital as traders preferred to travel to China, Turkeye, Dubai and other destinations to buy goods resold in the African market. He said the continent still faced challenges on the digital divide with an assessment that it needs about 700…

As youth unemployment in South Africa hits a staggering 44.6%, an increasing number of young South Africans are no longer waiting for job opportunities that may never materialise. Instead, they are proactively creating their own paths through entrepreneurship. This trend is not merely a solution to economic necessity; it also embodies a spirit of innovation and a desire for meaningful impact, wealth-building, and the continuation of family legacies. In recent months, statistics have shown a 3.5% surge in youth entrepreneurship, even as traditional employment avenues continue to dwindle. “We’re witnessing young people embarking on entrepreneurial journeys earlier than ever before,” said David Morobe, Executive General Manager for Impact Investing at Business Partners Limited. “For many, the drive stems from the harsh reality of scarce job opportunities. But for others, it’s…

Consumer take-home pay, tracked in the BankservAfrica Take-home Pay Index (BTPI), held steady in June 2025, after three months of moderation, due to the favourable inflation rate and expectations of an interest rate cut. However, while average salaries might increase by 5% this year based on current conditions, future earnings and unemployment levels may be adversely impacted by external factors impacting on the economy, an economist has warned. “The nominal average take-home pay of R17 310 in June 2025 declined marginally by 0.1% on May’s R17 325. However, it was still well above the R15 514 level a year earlier,” said BankservAfrica’s Head of Stakeholder Engagements Shergeran Naidoo. He said the economic outlook had deteriorated in recent months even though the first six months of data from the index signaled…

The KwaZulu-Natal Department of Health is entering into a partnership with private ambulance services to ensure timely and quality access to emergency medical services. Health MEC Nomagugu Simelane made this announcement while presenting her budget in the provincial legislature yesterday. The budget tabled amounts to approximately R56.2 billion. Simelane revealed that, over the past six years, budget cuts have reduced her budget by nearly R14bn, leaving the department unable to meet some of its critical needs, including the expansion of the ambulance fleet. “As a result, we are now looking into partnerships with private ambulances operating within the province,” she stated. Simelane emphasised the need to confront challenges that directly impact patients. One of the most urgent issues is the pressure on emergency medical services, particularly concerning response times for…

The Health Ombud, Professor Taole Mokoena, has released the findings of a critical investigation into the treatment, complications, and deaths of psychiatric patients at the Northern Cape Mental Health Hospital (NCMHH) and the Robert Mangaliso Sobukwe Hospital (RMSH). The investigation, launched following a complaint by Minister of Health Dr Aaron Motsoaledi in October 2024, found that the general care provided at the two institutions was “substandard”, with two patients dying and another left bedridden following brain surgery. The incidents, which occurred in July and August 2024, were investigated in terms of Section 81A (11) of the National Health Amendment Act, 2013. The report revealed gross mismanagement, failure to provide urgent medical care, lack of functional equipment, and extreme infrastructural deficiencies. Mokoena said, “The investigation concluded that the general care provided…

BAYERN Munich yesterday completed the signing of forward Luis Diaz from Premier League champions Liverpool for a reported fee that could rise to 75 million euros. The Colombian winger, who won the Premier League, FA Cup and two League Cups during his time at Anfield, has signed a contract with the Bundesliga champions until 2029. The fee paid for Diaz is the third-highest in Bayern's history. "In Luis Diaz, we have succeeded in bringing in one of the best left wingers in the Premier League,” said Bayern CEO Jan-Christian Dreesen. "He brings real player character from Liverpool to FC Bayern - he's won silverware with every one of his clubs to date.” Diaz, 28, said he was “very happy” with the move to the German club. "It means a lot…

“THAT was a gruelling tournament," was the remark overheard from Minnette Hatton-Jones during the KZN 4s medal presentation on Monday afternoon — and no words could have rung truer. The fours championships delivered five intense games of sectional play, a decisive playoff and semis and finals showdowns that tested every ounce of stamina, precision and team cohesion from those who made it through. By Monday, the buzz at Westville Country Club was electric. With a strong representation from Port Natal clubs in both men’s and women’s semi-finals, the event served as a powerful showcase of the depth of talent in the district. The women’s semi-finals saw no shortage of top-tier action. In an all-Port Natal clash, Hillary’s formidable foursome — Monique Wells, Linda Didlick, Debbie Joseph and Pam Kitchin…

THE South African Football Association (Safa) is as much to blame for Banyana Banyana’s shortfalls at the recently concluded Women’s Africa Cup of Nations tournament hosted in Morocco. Heading into what was their first title defence since winning the tournament in 2022, Banyana had to contend with unpaid fees from their preparation matches. These payments were not made on time, forcing the players to consider — and in some cases follow through with — match boycotts in order to get the association’s attention. It is puzzling that in 2025, an organisation tasked with leading South African football still allows its national teams to be affected by administrative shortcomings. Banyana were knocked out in the semi-finals by Nigeria, who scored a late second-half goal to clinch the win (2-1) and a…