Innholdsfortegnelse for 2025-09-15 i Mercury

A recent report from the BRICS Competition Law and Policy Centre has spotlighted growing concerns regarding the impact of dominant global commodity traders on food prices, particularly in the grain sector. Released on Friday, this report sheds light on how a handful of companies control an overwhelming share of the global bulk grain trade, exacerbating issues of food affordability and availability worldwide. In an interview with Business Report, Alexey Ivanov, director of the Centre and a Professor of Law at HSE University, discussed the alarming concentration of power in the hands of traders commonly referred to as the ABCD group—Archer Daniels Midland, Bunge, Cargill, and Louis Dreyfus—as well as significant emerging players such as COFCO, Wilmar, and Olam, collectively termed ABCD+. Ivanov said this coalition now wields control over an…

The Accountant General has raised alarms over the increasing audit fees imposed on government entities and municipalities by the Auditor-General of South Africa (AGSA). During discussions before Parliament’s Portfolio Committee on the Auditor-General (PCOAG) on Friday, Accountant General Shabeer Khan revealed a staggering 13% increase for the upcoming 2024/2025 financial year, alongside a 7.2% rise observed in the current year. This escalation in costs raises serious concerns about its implications on critical service delivery across municipalities, particularly for smaller entities grappling with their constrained budgets. Khan articulated his frustrations over the AGSA's apparent disregard for mandatory consultations with government and parliamentary bodies regarding these audit fees. "Between 2023/2024 there has been an increase of around 13% and then between 2024/25 and the current financial year, there has been a 7.2%…

Botswana and southern African peers that built much of their prosperity on diamonds are scrambling for alternatives as cheaper, lab-grown stones threaten their economies. Diamond-dependent Botswana is leading the way and launched a sovereign wealth fund this week to lay the "foundation for a more resilient, sustainable and diversified future beyond diamonds". It is exploring other avenues too, like boosting luxury wildlife tourism, launching into the medicinal cannabis market and exploiting its abundant sunshine for solar power. President Duma Boko has even mooted taking a majority stake in industry giant De Beers and selling Botswana's diamonds independently. "Countries such as Angola, Namibia and South Africa are all exposed but not to the same degree as Botswana," economist Brendon Verster at the Oxford Economics Africa think tank told AFP. The stones…

On Saturday the 13th of September the inaugural lecture of a befitting to be Stan Sangweni Annual Memorial Lecture was hosted at Unisa under the joint authority of the Public Service Commission and the National School of Government. The lecture was addressed by a befitting President who in the words of Dr Geraldine Fraser-Moleketi said was the architect of the Public Service design with Dr Sangweni as the executor of the design. President Thabo Mbeki addressed the inaugural lecture. What made the lecture more contextual was the developments in the Northern Cape ANC NEC, Here the ANC leadership pledged that it will not protect wrong doers any longer. The declaration on this stance ironically corresponded with advice contained in “The Future We Chose Scenario.” One of the outcomes of this…

Accelerate Property Fund, with retail specialists Flanagan & Gerhard and the Moolman Group, are working on initiatives to elevate the shopping experience at flagship shopping centre, Fourways Mall. Fourways Mall is a super-regional shopping destination in the high traffic Fourways node, in Gauteng. It carries a value of R4.03 billion in Accelerate’s balance sheet, and it makes up by far the biggest component of its R5.59bn retail property portfolio, which comprises 8 other shopping centres. The retail component makes up 66.7% of the group’s revenue. Accelerate said in its annual report Friday the Fourways Mall continued to demonstrate strong performance in the year to March 31, with a year-on-year trading density increase of 6.1%. The enhancements underway include optimising tenant spaces, refining the tenant mix, and implementing sustainability initiatives, such…

The African Transformation Movement (ATM) has condemned the South African Police Service’s (SAPS) decision to clear Major-General Wally Rhoode, head of the Presidential Protection Services, of any wrongdoing in the controversial Phala Phala farm investigation. ATM parliamentary leader Vuyo Zungula labelled the clearance a “blatant attempt by the ANC to destroy state institutions to protect their compromised deployees and officials”. He said the matter underscored growing concerns about accountability and transparency within the South African government. Rhoode’s clearance came after a disciplinary hearing related to findings made against him by Public Protector Kholeka Gcaleka two years ago. Acting Police Minister Firoz Cachalia publicly confirmed that Rhoode was found “not guilty of any misconduct related to the findings of the Public Protector in that he conducted an illegal investigation in relation…

Nomvula Mokonyane, the first deputy secretary-general of the ANC, warns that without discipline and a shared purpose among the parties involved, the Government of National Unity (GNU) risks becoming unworkable. She describes the GNU as “an amoeba” that lacks a clear shape. She singled out the behaviour of the Democratic Alliance (DA) as the biggest threat, bluntly labelling them “the most irresponsible party.” She noted, “They misbehave. Remember, they were going to oppose the budget. They try to address issues like foreign policy while wanting to play a dual role of being both in opposition and in government.” Mokonyane referred to the GNU as a “strategic setback” for the ANC but acknowledged that it emerged from the will of the South African electorate during an interview with TimesLIVE. “It’s not…

As the Madlanga Commission of Inquiry prepares to hold its first public hearing on Wednesday at the Brigitte Mabandla Justice College in Pretoria, experts and analysts are weighing in on the potential implications of the investigation. The commission, led by retired Justice Mbuyiseli Madlanga, will investigate alleged corruption within the country's criminal justice system. KwaZulu-Natal SAPS Commissioner Lieutenant General Nhlanhla Mkhwanazi is expected to be the first witness, testifying for three to four days. Mkhwanazi made explosive allegations on July 6 about political interference in the criminal justice system, implicating Police Minister Senzo Mchunu and Deputy SAPS Commissioner Shadrack Sibiya in allegedly conspiring to disband the political killings task team. Mchunu and Sibiya have denied the claims. Sibiya has since been suspended (asked to stay home) by National Police Commissioner…

Veteran sprinter Akani Simbine’s quest for a first major singles outdoor medal continues after a disappointing seventh-place finish in the men’s 100m final on Day 2 of the World Athletics Championships in Tokyo. National champion Gift Leotlela crossed the line in fifth. Leotlela, who set a personal best of 9.87 seconds in the first-round heats the day before, recorded 9.95 seconds in yesterday’s blue-riband event, while Simbine clocked 10.04. Jamaican Oblique Saville won gold in a personal best of 9.77, with countryman Kishane Thompson taking silver in 9.82. Olympic champion Noah Lyles claimed bronze. Simbine (9.96) and Leotlela (9.97) had finished third in their semifinals earlier in the day but still progressed to the final. SA champion Zakithi Nene won his first-round 400m race in 44.34, while Lythe Pillay took…

Hosts Mamelodi Sundowns soared to the top of the Betway Premiership standings after defeating 10-man Magesi FC 2-0 at the Lucas Moripe Stadium on Sunday. Before the match, Sundowns, with 11 points, occupied third place on the log, two points behind joint leaders Sekhukhune United and Kaizer Chiefs with 13 points. With this latest win, Sundowns, now on 14 points, are one point clear at the summit. Despite being overwhelming favourites against winless Magesi, Sundowns initially had to contend with early pressure. Magesi striker Wonderboy Makhubu sprinted clear down the left flank before unleashing a low drive from an acute angle. Goalkeeper Ronwen Williams produced remarkable reflexes to deny Makhubu. Several half-chances went begging before Sundowns opened their account, albeit in fortuitous fashion, midway through the first half. Midfielder Thapelo…

The Springboks will savour their victory over the All Blacks for a little while, switch off, and recover with family when they land in South Africa this week before returning to training in preparation for back-to-back Tests against Argentina. After dismantling the Kiwis 43-10 in Wellington on Saturday, the world champions retained the Freedom Cup for a second consecutive year. They also kept their hopes of defending the Rugby Championship title alive with a six-try, bonus-point win at the Cake Tin. The triumph also lifted the Boks back to the No 1 spot on World Rugby’s rankings, leapfrogging both Ireland and the All Blacks. “We knew scoring those last two tries was important to keep us in contention for the rest of the Championship,” said Bok utility back Damian Willemse.…

South African companies who were part of the 30-member business delegation showcasing their products and services at the Intra-Africa Trade Fair (IATF) held in Algeria have said that they are looking forward to doing business in Algeria and the rest of the continent. This comes after generating many promising trade leads during the fair last week. Dr Khulile Mtsetfwa, CEO of Swatek Defence and Aerospace, stated on Friday that the company signed three memoranda of understanding focusing on distribution lines in Algeria. The company specialises in the design and manufacture of quality wiring harness, military dashboards, battery boxes, dashboard test bench and providing innovative electrical solutions to defence, aerospace, aviation, rail and automotive sectors. “The plan is to make sure that we build relations and maintain the line of communication…

The latest cargo movement report released by the South African Association of Freight Forwarders (SAAFF) and Business Unity South Africa (BUSA) for the week ending 7 September reveals a significant surge in cargo handling across the nation's ports and transport networks. This increase comes amid ongoing operational challenges that have raised concerns among industry stakeholders regarding the fluidity of cargo movements. According to the report, South African container terminals recorded an average handling of 14 727 Twenty-foot Equivalent Units (TEUs) daily, surpassing the previous record of 14 487 TEUs set in the week ending 20 July by 1.7%. This represents a notable week-on-week increase from 13 842 TEUs. However, despite the record throughput, several operational issues hampered efficiency, including adverse weather, equipment breakdowns, and vacant berths. Cape Town experienced reduced…

During August, women are celebrated for their resilience and uniqueness through various commemorations, acknowledgements and pampering events throughout the world. As much as its important to celebrate women who build homes and organisation’s, its equally important to be mindful that a woman’s role to build through their resilient and unique leadership and thinking approach is a daily task that is ongoing. Therefore, in honour of the prime and nurturing role that women carry from the beginning oftime, a group of professional women namely Galetlolwe Semenya, Chef Noni, Wendy Mbalo, Barbra Lawrence Strydom and Andile Nkosi Schmidt joined hands to create a life changing and memorable experience for the African child. A full day unorthodox workshop was arranged with the South African Radio Astronomy Observatory (SARAO) astronomy scientists and engineers, in…

Equities on the JSE, precious metal prices and Rand on Friday ended stronger for the third consecutive week. Despite the higher-than-expected US inflation rate for August that was released on Thursday, sentiment on global markets remains that the Federal Reserve will decrease its Bank rate this Wednesday September 17. The US core inflation did increase from 2.7% in July to 2.9% August as was expected by markets, but is now significantly higher than the 2.0% inflation target of the Fed. Prices increased were felt mostly for food (3.2% vs 2.9% in July), used cars and trucks experienced a sharp annual increase of 6.0% against the 4.6% in July and the yearly acceleration for new vehicles was 0.7% against 0.4% the previous month. Evidence suggests that the…

Caxton & CTP Publishers & Printers' share price increased by 4.7% on Friday afternoon after it reported a 16% increase in annual dividend to 70 cents for the year to June 30 off the back of a resilient financial performance. Normalised headline earnings a share for the publisher of regional newspapers, printer, packaging & stationery manufacturer, and digital asset delivery company increased by 12% to 178.9 cents. Cash and its equivalent balances ended the year 20.7% higher at R3 billion. The share price traded at R12.25, slightly below the R12.70 it traded at a year before on the same day. “We delivered commendable results in difficult operating circumstances, characterised by little to no growth and subdued consumer spending in a highly competitive environment,” CEO Terence Moolman said in the results.…

As World Suicide Prevention Day, with the theme Changing the Narrative, was commemorated last week, there have been widespread calls on us to re-examine how we approach a topic that has long been shrouded in silence. The traditional narrative, often steeped in stigma and misunderstanding, has done a great disservice to those struggling and to the loved ones left behind. It's time to build a new conversation that is both informed and compassionate. The question of "why?" is an agonising one, and it's a question my own family knows all too well. A beloved family member took his own life, leaving no note, no explanation. The grief was immense, but it was compounded by the unanswered questions that still echo in our hearts. "Why did he do it?" "What could…

THE farming industry in KwaZulu-Natal is facing a significant challenge of an ageing population of farmers and a lack of new entrants into the sector. KwaZulu-Natal Premier Thami Ntuli raised these concerns in an interview with The Mercury on Friday. Ntuli, who is also the Provincial Chairperson of the IFP, discussed various issues affecting the province. He outlined both the successes and challenges faced by the government of provincial unity (GPU) to date. Among the pressing issues he highlighted was food security, particularly in the context of commercial farming and subsistence farming that allow people to feed themselves. A few years ago, the government initiated a programme called “One Home, One Garden”, which encouraged residents to utilise any available land to cultivate food. Speaking on the issue of commercial farming,…

The Gauteng High Court, Johannesburg, has ordered a wife to return a R1.2 million car that she was allowed to use pending the divorce between her and her husband, but as the vehicle formed part of the corporate assets of a closed corporation now in liquidation, it was ruled that the vehicle belonged to the liquidators. The woman, who may not be identified as divorce proceedings are pending, was driving the Toyota Land Cruiser while being married. The vehicle belonged to Kanivest 3214 CC, the corporation of which her husband was the managing director. The vehicle was bought in 2020 by the corporation under an installment sale agreement. Her husband allowed her the use of the vehicle, although the corporation was its registered owner. Last year her husband took steps…

Christianity’s centre of gravity has shifted from North to South. In the 20th century, the majority of Christians lived in Europe. Over time, this shifted to the Americas, and by 2050 most Christians are expected to live in Africa. As the Ghanian theologian Kwame Bediako noted, it was unexpected that Africa would become the ‘heartland of Christianity’ again. Christianity in Africa is ancient. Despite the claim of Christianity being the religion of the West, it was first North African before it was European. Indeed, Christianity is now perhaps the most salient force on the continent but this time in sub-Saharan Africa. It has been argued that Christianity – as a source of norms and beliefs – shifted the culture and, in turn, the political structures of Western civilisation. Samuel Huntington,…

The Springboks will keep their feet on the ground and look to sharpen up their game as they head into the final two Rugby Championship Tests against Australia in two weeks. After beating New Zealand 43-10 in Wellington on Saturday, the world champions revived their campaign, with their focus now shifting to the unpredictable Argentinians, whom they’ll face in Durban and at Twickenham. South Africa’s two-try hero in Wellington, Cheslin Kolbe, praised the efforts of his teammates as they took down the All Blacks with a fairly untested backline, scoring six tries on their way to the emphatic win. Kolbe opened the scoring with an interception, sprinting about 70 metres to cross untouched, while his second came from brilliant interplay between the backs and forwards off a dominant scrum. He…

While the Lions were purring as they booked a home Currie Cup final against the Griquas with a 67-19 mauling of the Boland Cavaliers, coach Mziwakhe Nkosi is slightly concerned about the dip in their level of play in the second half. The dominant Lions led 41-5 at half-time, and while there was no danger of being overhauled, the error count from the home side was high in the second stanza. “It was probably not our most accurate second half but as the game got scrappier, we got scrappier. But we take it,” Nkosi said, in his post-match media briefing. “In the first half I thought our set piece was good, I thought we scrummed well, while they tried to have one or two mauls that we stopped. “Our maul…

Ratings agency affirms SA’s long-term foreign-currency issuer default rating at ‘BB-’ outlook stable Fitch Ratings has affirmed South Africa’s long-term foreign-currency issuer default rating at ‘BB-’ with a stable outlook, citing weak economic growth prospects, rising government debt and high poverty and inequality as the country’s main credit constraints. In its latest review published on Friday, the ratings agency said South Africa's sub-investment rating was also constrained by the rising government debt/GDP ratio and a rigid fiscal structure that hampers budget deficit reduction. South Africa slipped further into below investment grade in 2020, with foreign currency ratings reaching a bottom of BB- under Fitch. However, Fitch said the ratings were supported by a favourable government debt structure with long maturities and mostly local-currency-denominated, strong institutions and a credible monetary policy…

The Congress of South African Trade Unions (Cosatu) will be convening its Central Committee this week where delegates, from the leadership of the Federation and its Affiliates, to shop stewards and workers from across the country and its economic sectors will gather. Cosatu’s Central Committee is a platform for members to reflect on the many challenges facing the working class, the Federation’s successes and obstacles tackling these and most critically what is to be done to improve the working and living conditions of workers. It is a workers’ parliament and a chance for their voices to be heard by government, business and society. Workers are the backbone of the economy. Their lived experiences need to be understood and their aspirations be provided a path to realisation. The Central…

The share price of Gemfields Group, the JSE-listed miner of valuable coloured stones, shot up 0.5% on Friday afternoon after the company said a decision to reopen its Kagem mine had been vindicated by a successful emerald auction. The company announced that 38 lots of high-quality emeralds were offered for sale at an auction between August 25 and September 11, all of which were sold. The share price traded at R1.50 on the JSE, with the higher price providing a meaningful respite considering it traded at R2.77 a year previously. Total revenues of $32 million were realised at the auction. The average realised price was $160.78 per carat. The group has generated over $1.12 billion in revenues through the 52 auctions of Kagem gemstones held since July 2009. Gemfields owns…

Elon Musk may be trying to pivot Tesla away from electric vehicles and toward humanoid robots, but to skeptical investors there’s no hiding from its stagnating sales and eye-watering stock market valuation that leaves little room for error. Eager to transform the carmaker into an artificial intelligence powerhouse, Musk earlier this month declared on his social-media platform X that about “80% of Tesla’s value will be Optimus,” referring to the company’s robot initiative. But that’s for the future. In the here and now, Tesla’s 2025 earnings are expected to sink nearly 30%, while its robotaxi business is still years from turning a profit and faces stiff competition from Alphabet Inc.’s Waymo, among others. “You can pin any kind of valuation to robots at this point,” said Thomas Thornton, founder of…

Ahead of a roll call of over 6 000 ANC councillors and mayors set to gather in Johannesburg on Monday, ANC President Cyril Ramaphosa unveiled the party's Action Plan to make local government work better for the people. This comes as the ANC’s National Executive Committee (NEC) met over two days in Boksburg to assess the state of local government, with a key focus of the gathering being to find solutions to widespread service delivery failures in municipalities across the country. On Saturday, Ramaphosa urged municipalities to take decisive action against corruption, adding that even though corruption is most prevalent within municipalities, there is often a lack of political will to hold officials accountable for maladministration. According to the president, the meeting will culminate in a roll call meeting of…

THE Islamic State of Africa (ISA), a non-profit organisation, is contending with what it describes as systemic bias in democratic processes after the Electoral Commission of South Africa (IEC) struck its appeal to register as a political party off the roll. The Chief Electoral Officer (CEO) rejected ISA’s application on three grounds: 1. The party failed to meet the threshold of prescribed details of registered voters supporting the party’s formation. The prescribed details were full names and signatures of 300 registered voters. 2. The application notice was published in a newspaper circulated only in parts of the municipal area (eThekwini Municipality), which is insufficient to alert all relevant persons in the geographic area of the party’s application. 3. The CEO received over 200 objections from individuals and organisations arguing that…

The pleasure of tucking into two chocolate bars with money from her company's petty cash came at an even higher price for a sales manager; she lost her job because of the indiscretion. The two chocolate bars became the subject of legal scrutiny — first during arbitration proceedings during which a commissioner accepted her excuse that she was hungry and thus bought the sweet treats. It also now formed part of proceedings at the Labour Court in Johannesburg. JDG Ltd, trading as Hi-Fi Corporation, turned to the labour court to review the arbitration ruling, which ordered it to reinstate the employee, only identified as MM. The arbitrator earlier found her dismissal to be substantively unfair. She was employed as the sales manager of the applicant’s branch in Jabulani Mall. Her…

KwaZulu-Natal Premier Thamsanqa Ntuli has promised to look into the Arts, Sports and Culture Department’s decision to charge a senior official for allegedly blowing the whistle on corrupt activities in the department. The suspended department’s Chief Financial Officer (CFO), Zinhle Buthelezi, is currently undergoing a disciplinary hearing, where the department has accused her of leaking confidential documents to ActionSA provincial leader Zwakele Mncwango in 2023. As an alternative charge, the department accused her of failing to investigate who among the employees may have leaked this information to a private individual. She was suspended in May last year. Weighing in, Ntuli said he was unaware of the matter and said he would request a full report to understand what was going on. “We cannot allow the victimisation of corruption whistle-blowers. We…

Erling Haaland struck twice as Manchester City inflicted another damaging defeat on Manchester United boss Ruben Amorim with a comprehensive 3-0 win yesterday. Phil Foden opened the scoring before Haaland took centre stage with a second-half double, either side of an incredible miss from the Norwegian, as City bounced back from two consecutive Premier League defeats. United went into a derby ahead of City in the table for the first time in five years. But that owed more to City’s early season struggles than signs of progress for Amorim’s men, who have taken just four points from their opening four games and were dumped out of the League Cup by fourth-tier Grimsby. To cap a fine City display, goalkeeper Gianluigi Donnarumma marked his debut with a stunning save from Bryan…

Terence Crawford stunned Mexican superstar Saul “Canelo” Alvarez to claim the undisputed super middleweight crown on Saturday, becoming the first boxer to win undisputed titles in three weight divisions. In a fight of razor-thin margins, Crawford surged late to secure a unanimous decision, extending his record to 42-0 with 31 knockouts. Judges scored it 116-112 and 115-113 (twice) for the American. “For sure this is definitely a signature win,” said Crawford, 37. “Moving up two weight classes, being the B-side, fighting a guy that’s been undefeated in the division, undisputed. My other undisputed runs I had titles, I was coming in as a champion. But this one I was coming in as an underdog, no championship belts and I felt like everything was on the line.” Alvarez, 35, fell to…

Springbok Women coach Swys de Bruin believes “a giant has awoken for women in South African rugby” after his team’s inspired performances at the Rugby World Cup in England. Although the Boks ultimately went down to the mighty Black Ferns in their quarterfinal on Saturday at Sandy Park in Exeter, De Bruin’s charges were monumental during the competition. Glass ceilings were shattered over the last month, including winning a first-ever match at the Rugby World Cup against Brazil (66-6) before following it up with a victory over higher-ranked Italy (29-24) to book a maiden place in the Rugby World Cup quarterfinals. And if that wasn’t enough, they surprised friend and foe with a Herculean first-half display against the four-times champions by holding the New Zealanders to 10-10 at halftime. Although…