Innholdsfortegnelse for 2025-11-26 i Mercury

President Cyril Ramaphosa has signed a far-reaching proclamation authorising the Special Investigating Unit (SIU) to probe allegations of serious maladministration, improper conduct and possible corruption at South African Tourism (SA Tourism), marking one of the most significant interventions in the entity’s recent history. The proclamation follows years of controversy at the organisation, which has faced persistent governance instability and a collapse in industry confidence. Proclamation 297 of 2025, signed by the President and gazetted this week, empowers the SIU to investigate allegations centred on the procurement of media buying services, including three specific invoices and purchase orders. The SIU’s mandate includes examining payments made for services that were never rendered, partially delivered, or not executed in accordance with contractual obligations. This comes after the previous SA Tourism board suspended the…

Bank and parastatal agree to end litigation, and settlement is made without any admission of liability South African state-owned logistics firm Transnet and Nedbank said on Tuesday they have reached a confidential commercial settlement to end their ongoing litigation, with the bank agreeing to pay Transnet R600 million. Both parties said the settlement was made without any admission of liability. Transnet and Nedbank said the agreement was aimed at avoiding lengthy and costly court proceedings and preventing damage to their long-standing commercial relationship. They said they continued to stand by their previous statements on the dispute. The litigation stems from interest-rate swap transactions concluded in 2015/16 during Transnet’s multibillion-rand locomotives procurement programme, which featured in the judicial inquiry into state capture. A year ago, Business Report reported that Nedbank had…

South Africa’s top CEOs stand out for their depth of experience and strong institutional knowledge – but they trail far behind their global peers in international mobility and cross-sector experience. That’s according to Route to the Top 2025, a report from global leadership advisory firm Heidrick & Struggles, which analysed the profiles of 1 232 CEOs of major companies across 27 markets, including the JSE Top 40. The data shows that 95% of South Africa’s CEOs have held a C-suite role before taking the top job, compared with 77% globally. Nearly half (48%) have previously served as a CEO, versus 42% worldwide. South Africa also has a higher share of CEOs with prior functional leadership experience: 23% have been CFOs (compared with 21% globally) and 28% have served as COOs…

South Africa’s energy transition hinges on private capital stepping in to fill funding gaps. Although the country has secured over R18 billion in new loans from the African Development Bank (AfDB) and the German KfW Development Bank to support its Just Energy Transition, this funding remains insufficient and is heavily loan-dependent, adding to an already considerable debt burden. Compounding this, global interest rates remain high, and financing is increasingly flowing toward lower-risk regions. As a result, the basis on which capital is allocated is shifting from who has the boldest vision to who can deliver reliably and measurably over time. Capital is no longer flowing freely Despite efforts by central banks to loosen monetary policy, interest rates have risen unevenly since 2021. In the US, for example, the yield on…

Pepkor Holdings has announced significant profit growth for the year to September 30, driven by market share gains in retail and a burgeoning fintech segment. The company reported a 12% increase in revenue, reaching R95.3 billion, and an operating profit rise of 13.2% to R11.1bn. In a show of confidence, Pepkor has raised its dividend by 9.2%, now standing at 53 cents per share, alongside a remarkable 23.4% growth in normalised headline earnings per share (HEPS), which has reached 161 cents. CEO Pieter Erasmus said the results were a testament to Pepkor's ability to generate sustainable value, despite a dynamic economic landscape. In a statement, he noted the company's commitment to addressing customer needs and enhancing affordability and accessibility, saying, “We continue to build a unique position of trust among…

A Gustav Klimt portrait made history last week when it sold for an astonishing $236.4 million (around R4 billion) at an auction in New York, becoming the most expensive modern artwork ever sold at auction and the second most expensive painting in history, second only to Da Vinci’s Salvator Mundi which went for $405m. The artwork, Portrait of Elisabeth Lederer, completed between 1914 and 1916, is one of the Austrian artist’s rare full-length portraits from the final years of his career. Painted in whites and golds, it captures Lederer, the daughter of one of Klimt’s prominent Viennese patrons, in a strikingly modern, elongated pose that defined his late style. The sale unfolded in a tense 20-minute bidding war involving six collectors, with the winning bid landing at $205 million…

SAPS’ Chief Financial Officer (CFO), Lieutenant-General Puleng Dimpane, made it clear that she was frustrated with how her comment on the disbandment of the Political Killings Task Team (PKTT) was presented out of context. She clarified that “rather than advocating for the disbandment of the PKTT, I advocated that a study be conducted to determine whether it should be made a permanent structure”. Dimpane appeared before the Ad Hoc Committee established to investigate allegations made by the South African Police Service (SAPS) KwaZulu-Natal Provincial Head, Lieutenant-General Nhlanhla Mkhwanazi, yesterday. The committee relocated proceedings from Parliament to Gauteng this week, where they are stationed at Kgoši Mampuru Correctional Centre in Tshwane. The decision was made to hear the testimony of Vusimuzi “Cat” Matlala, who is currently in custody. Matlala, believed to…

The late ANC liberation struggle icon and Umkhonto weSizwe operative Sunny Singh was unhappy with the current state of the ANC at the time of his death. Speaking at his funeral service in Durban, his fellow Operation Vula commander Mac Maharaj told the mourners that Singh was very concerned about the state of the ANC, a party he dedicated his life to. He, however, stated that Singh had always hoped that things would get better for the party and it would return to its past glory. Singh was laid to rest yesterday. He died last Thursday at the age of 86. “Comrade Singh was very concerned and unhappy about the current state of affairs in his beloved movement, the ANC. However, as a principled and disciplined member, he always lived…

Everton survived an astonishing moment of madness at Old Trafford on Monday when Idrissa Gueye was sent off for slapping teammate Michael Keane to beat Manchester United 1-0. Senegal midfielder Gueye was given his marching orders by referee Tony Harrington in the 13th minute after putting his hand to Keane’s face following an angry altercation. The home crowd anticipated waves of attack but United failed to take advantage, proving toothless against David Moyes’ battling team. Instead, it was the 10-man visitors who seized the initiative, courtesy of a wonderful strike by Kiernan Dewsbury-Hall in the 29th minute. United, missing injured forwards Benjamin Sesko and Matheus Cunha, huffed and puffed but could not find an equaliser despite twenty-five shots on goal to Everton’s three. Goalscorer Dewsbury-Hall, addres- sing the red-card incident…

Vodacom KwaZulu-Natal has announced a major investment of more than R1.1 billion in network infrastructure for the current financial year (FY2026), reinforcing its commitment to expanding connectivity and accelerating digital inclusion across South Africa’s most populous province. The announcement was made during a media roundtable on Tuesday, led by Imran Khan, managing executive for Vodacom KwaZulu-Natal, alongside the company’s provincial leadership team. Khan said the investment reflects Vodacom’s long-term vision of building a digitally inclusive KwaZulu-Natal where all communities—urban and rural—have access to the opportunities offered by the digital economy. “Vodacom's R1.142bn investment in KZN's network infrastructure during the financial year demonstrates the company's commitment to ubiquitous connectivity across the province," Khan said. "The investment breakdown includes R796 million for radio projects, R289m goes to transmission, R36 million towards energy,…

The Department of Agriculture (DoA) has dismissed claims by the Southern African Agri Initiative (Saai) that the regulatory system responsible for approving fertilisers, pesticides, farm feeds and veterinary products is facing a “total administrative breakdown.” This follows a strongly worded letter of demand sent by Saai’s attorneys to the Minister of Agriculture, the department, and the Registrar of Act 36, calling for urgent intervention. In its statement, the department on Monday said it had taken note of what it described as “misleading public statements” made by an agricultural lobby group regarding delays and inefficiencies in processing applications governed by the Fertilisers, Farm Feeds, Agricultural Remedies and Stock Remedies Act. It stressed that despite challenges, the system was not in a state of collapse. “Upon assuming office, the Minister of Agriculture,…

I still remember the sinking feeling. African Tech Roundup had received a $25 000 grant from the Celo Foundation, tokens that briefly tripled in value (in fiat terms) during the bull run. Instead of converting to fiat to fund our project as intended, we held. Then the market turned. By the time we needed that funding, we'd operated at a loss, forfeiting the remaining $10 000 rather than continue. No shade to Celo. I remain grateful for that collaboration, and much of the blockchain education content we published circa 2021-22 with their support remains singularly some of our most-read and listened material. The appetite for the solutions crypto promises is undeniable. But that experience taught me something crucial about my own susceptibility to making poor reads on what constitutes a…

One of the realities facing South Africa is, that without policy intervention, Mpumalanga’s economic contraction will start to increase rapidly. This is the result of a combination of factors including the reliance of the Mpumalanga economy on the extraction of coal and the failure of municipalities to deliver basic services. Coal mining, like any extractive industry, leads to depleted reserves and closure liabilities. This is evident in the many ghost towns scattered all over the South African landscape. The mine closure challenge is how to create meaningful economic activity after mining has stopped and how to rehabilitate the area to a state in which the negative environmental impacts of mining are sufficiently mitigated. One of these challenges, how to create meaningful economic activity could be solved by following a pragmatic…

Zeda, the JSE listed integrated mobility solutions provider, saw its share price rocket over 11% after its annual results showed how it relied on its diversified business model to counter pressures facing traditional car rental services and vehicle sales. The group, which owns the Avis brand in South Africa and 10 other sub-Saharan countries, delivered a total dividend of 181 cents per share, a 50% payout aligned with policy, for the financial year to September 30, 2023, its results published yesterday showed. The share price traded at R13.81 on Tuesday afternoon. "We delivered strong earnings growth and operating margin expansion in a constrained market, while maintaining our commitment to shareholder returns," said the CEO Ramasela Ganda in a statement. "Zeda achieved a strong set of results, underscoring our solid return…

Cervical cancer, a disease that is almost entirely preventable, claims the lives of over 6 000 women annually in South Africa alone. Globally, it remains one of the most pressing health challenges, especially in low and middle-income countries where access to preventive measures and treatment is limited. During a networking session held prior to the 2025 G20 Summit in Johannesburg, the urgent need to eliminate cervical cancer was the focus of a panel discussion, highlighting this silent epidemic. ​In an interview with G20 panellist Zweli Bashman, the managing director of MSD, the discussion centred on the urgent need for Africa to innovate in cervical cancer prevention, balancing progress made and obstacles ahead, while underscoring collective responsibility. Cervical cancer elimination Cervical cancer is not only preventable but also treatable if detected…

Allegations that South African soldiers are unlawfully serving in the Israeli Defence Forces (IDF) in the armed conflict in the Gaza Strip are due to come under the juristic spotlight in the Gauteng High Court, Pretoria. The applicants, Safoudien Bester, a Palestinian solidarity activist, and Ziyaad Ebrahim Patel, a South African attorney and human rights defender, turned to court in a bid to obtain several orders to hold South Africa accountable to its international and other obligations. Several arms of government, as well as the National Director of Public Prosecution, the Department of Home Affairs and the police are cited among the 10 respondents. The matter filed before the court contains allegations that South African nationals and citizens have been unlawfully serving in the IDF. The case stems from a…

Lynn Forbes, the mother of award-winning rapper Kiernan “AKA” Forbes, was at the Durban Magistrate’s Court yesterday to face the men charged with the murder of her son and Tebello “Tibz” Motsoane. Brothers Siyabonga Gezani and Malusi Dave Ndimande, who are Eswatini nationals, made their second appearance in court. According to the police, it is alleged that one of the brothers was the trigger man in the murders. They were arrested in 2024 by the Royal Eswatini Police Service in Mbabane at a house they were renting. The men arrived in South Africa after they abandoned their application to oppose their extradition. They were formally charged upon their arrival at King Shaka International Airport earlier this month. Forbes and Motsoane were shot dead outside Wish Restaurant on Durban’s Florida Road…

The KwaZulu-Natal provincial police have confirmed that police are investigating a brazen armed robbery at a shopping centre in Pinetown on Monday. Videos of the alarming incident have gone viral on social media. In one of the videos, men wearing balaclavas and armed with rifles are seen removing boxes from a trolley and loading them into a white vehicle in the parking lot of the centre as other vehicles are driving past. The robbery took place reportedly at Pinecrest Centre. In another video, a Metro Police car is seen driving past the scene after the heavily armed suspects point their weapons at them and instruct the officer/s to continue driving. Police confirmed yesterday that they are investigating the incident, which took place on Monday morning. According to KwaZulu-Natal SAPS spokesperson…

When the Proteas arrived a fortnight ago, they carried with them the hefty baggage of not having won a Test in India for 15 years, let alone a series since the turn of the millennium. But such has been the events that have unfolded, that the Proteas could complete a 2-0 clean sweep. The only quibble during the second Test in Guwahati, is about how long they actually took to declare their second innings. It eventually came with an hour of play remaining yesterday, when captain Temba Bavuma called time after Tristan Stubbs’s dismissal for 94 with the Proteas on 260/5, setting India a world-record target of 549. It caused coach Shukri Conrad to injudiciously reference Tony Greig’s infamous “grovel” phrase, which the former England captain made ahead of the…

South Africa will rely on a collective South African Customs Union (SACU) tariff offer, together with its own direct negotiations, to reverse the 30% tariffs imposed by the United States in September, senior trade official Ambassador Xolelwa Mlumbi-Peter told Parliament on Tuesday. Mlumbi-Peter, the deputy director-general for trade in the Department of Trade, Industry and Competition (the dtic), said South Africa has been in continued engagement with the US on an agreement that would establish reciprocal tariffs, with the primary objective of reducing the recently imposed duties. "There are also discussions on a tariff offer. This will be a SACU offer given that South Africa is part of a customs union. So, SACU is finalizing that with a view to submit it as soon as possible," Mlumbi-Peter said. "The aim…

The curtain has fallen, and despite all voices and mixed echoes of what was possible through our G20 Presidency, South Africa has delivered a resoundingly successful G20, and a promising outcome. For the first time ever, the world’s most powerful economies convened on African soil at the G20 Leaders’ Summit in Johannesburg last weekend. This gathering was more than a diplomatic milestone, it was a celebration of Ubuntu, which teaches that our humanity is bound together. The Summit’s declaration states that “…individual nations cannot thrive in isolation….” I am because we are, this principle of Ubuntu set the tone, reminding leaders that global challenges like climate change demand unity and solidarity. President CyrilRamaphosa underscored this ethos at the historic Summit, affirming our common humanity and the value of partnership and…

Octodec Investments, a prominent JSE-listed Real Estate Investment Trust (REIT) primarily operating in Tshwane and Johannesburg, has reported a 7.6% increase in its full-year dividend, now standing at 134.5 cents per share for the year ending August 31. This rise followed the declaration of a final dividend of 72.5 cents per share, showcasing the company’s commitment to returning value to its shareholders amidst a volatile economic climate. CEO Jeffrey Wapnick, attributed an 8.2% rise in distributable income per share to a "resilient portfolio performance." The total property portfolio, valued at R11.2 billion, recorded a revenue growth of 4.6%, amounting to R2.2bn. Notably, all sectors aided this growth, with residential properties and shopping centres emerging as the strongest performers. The overall vacancy rate simultaneously improved, decreasing to 12.3% from a previous…

Takealot, South Africa's largest ecommerce company, experienced a step-change in its business operations in the past six months to September 30, and is on track to be profitable for the full financial year, for the first time since it was launched in 2011. Takealot Group chief financial officer Tessa Ackermann said in a briefing Tuesday that the Prosus subsidiary's earnings before interest and tax (Ebit) loss had reduced by 57% in the six month period just passed, as the group focused on sweating efficiencies from its infrastructure and distribution centres, and spent very little on capital expenditure. Former Prosus CEO Bob van Dijk had set a target in 2023 that all of Prosus' e-commerce companies had to be profitable by 2025. "The next sixty days are going to be crucial…

Construction companies are engaging in “fraudulent conduct” to win bigger projects for which they have neither the capacity nor the capability to implement, leading to a high failure rate. The KwaZulu-Natal Department of Transport has warned that contractors who are supposed to be able to handle bigger projects based on their grading by the Construction Industry Development Board (CIDB) are failing. These revelations emerged during a briefing by the department to the members of the KwaZulu-Natal legislature finance portfolio committee on the performance of the department’s contractors. It revealed that it has since discovered that some of these companies are awarded bigger projects because they have “bought certificates (bought companies that owned the certificate and used those certificates to apply for work)” that gave them higher grading, not their capacity…

Thirteen people have been arrested in Gauteng following 14 reported incidents during the G20 Leaders Summit in Johannesburg, including violent protests and thefts targeting international delegates. The information was disclosed during a post-G20 summit media briefing led by Gauteng Premier Panyaza Lesufi in Johannesburg. He was joined by several Members of the Mayoral Committee (MMCs). The summit was held at the Nasrec Expo Centre at the weekend. Lesufi said there were a number of disruptions and crimes reported during the event. “We can report the following disturbing incidents that happened in our province during this period under review.” He said that there was a theft of cell phones and luggage from delegates representing Vietnam at Checkers Sandton City Mall. Four suspects were immediately arrested. At DaVinci Hotel,…

Homeground advantage for the Dolphins in the second CSA T20 Challenge play-off, against the Western Province, might provide the extra spice the Durban outfit needs to reach the finals, according to coach Quinton Friend. The last time these two teams met was at Newlands, where Province handed the Dolphins a five-wicket defeat. Friend, however, reiterated his side were not at their best last Sunday as they were missing three crucial players in Khaya Zondo, Jason Smith and Bryce Parsons. Now, with the Dolphins back to full strength, Friend believes today’s clash at Kingsmead is set to be an epic encounter. The Dolphins go into the match with momentum, having won their last two games against the Titans and Lions, respectively. “Homeground advantage could play a massive part (Wednesday),” said Friend…

South Africans tend to live their best lives in December … excuse me, I meant to say “Dezemba”. “That’s January’s worries,” is one of our favourite things to say around the braai when the kids remind us about that stationery list. When we eventually take that list, we’re shocked that it has a page two. Now it’s panic stations – we have to go to the bank, or an uncle or aunty, to borrow money because a few tubes of Pritt cost the same as two six-packs of beer. That’s also how it used to be when it came to the Springboks’ succession planning before Rassie Erasmus took over in 2018. There was no succession plan for coaches and no long-term plan for players. The period between 2007 and 2010…

Kaizer Chiefs sporting director Kaizer Motaung jr has stepped forward to support Bafana Bafana head coach Hugo Broos, amid growing noise around the perceived lack of Amakhosi representation in national team squads this year. The debate intensified after Broos named his 54-man preliminary squad for the 2025 Africa Cup of Nations in Morocco, with Chiefs contributing four players to the long list. In recent weeks, some supporters questioned whether Chiefs footballers were being overlooked compared to their rivals in the Betway Premiership. But Motaung jr quickly shut down talk of bias, insisting the club fully backs Broos’ methods and long-term vision. “If you ask anyone from any club, they’ll want to have as many players in the national team as possible and we’re very proud of the work Hugo Broos…