Star 2025-03-27

The latest household affordability index, released by the Pietermaritzburg Economic Justice and Dignity Group (PMBEJD) on Wednesday, painted a grim picture for South African families facing escalating food costs. From February to March 2025, the cost of the essential household food basket increased marginally by R16.14, now totalling R5 329.36, a rise of 0.3%. Over the past year, the food basket's price has surged R51.43, or 1.0%, when compared to March 2024. Representatives from civil society on Wednesday sounding alarm bells as they report that rising living costs were pushing communities further into the grips of poverty and food insecurity. The PMBEJD points out that among the 44 items they track, 22 saw price increases this March, with core staples such as maize meal, rice, cake flour, white sugar, sugar…

Labat says the transaction represents a “significant development that will further enhance growth trajectory” Labat Africa Group, which previously focused on cannabis sector investments, is now pivoting to technology, and it has entered into a R2.5 billion royalty distribution agreement with Ubits Technology Solutions. The management team at Labat said on Wednesday that the transaction represents a “significant development that will further enhance Labat's growth trajectory in the technology and AI sectors.” On March 4 this year, Labat successfully completed the acquisitions of 75.55% of Classic International and 51% of Anahmu Investments. These acquisitions aim to strengthen Labat's position in the rapidly evolving technology sector, particularly within AI and innovations. “In line with the new journey of Labat, we are excited to announce that Labat has entered into a landmark…

Steel industry experts on Wednesday expressed scepticism about the deadlines set for the steel tariff review recently launched by the Department of Trade, Industry and Competition (Dtic), citing its vast scope and the far-reaching implications of its proposals. On March 19, Itac published a notice in the Government Gazette (notice no. 3061 of 2025) informing stakeholders of its intention to initiate the process of reviewing the steel tariff structure. These include breaching the bound rate, introducing control pricing, imposing export duties, and invoking Article 19 of the World Trade Organisation (WTO) on tariffs and trade. They warn that such measures would drive up tariffs and prices, potentially leading to the collapse of numerous businesses within the sector. Concerns by the sector are that the current review, covering four chapters…

South Africa has taken a pivotal step towards enhancing its environmental finance strategies with the recent release of a comprehensive technical report aimed at assessing the international interoperability and usability of the country’s Green Finance Taxonomy (SA GFT). This collaborative effort between the Climate Policy Initiative and GreenCape aims to enhance the South African Green Finance Taxonomy (SA GFT) by addressing its usability challenges and improving global alignment as the world turns to sustainable finance amid escalating climate concerns. In the first edition of the in 2022, SA GFT served as a framework defining the constitution of "green" investments, providing clarity and certainty for investors. Interoperability between sustainable finance taxonomies is essential to facilitate seamless cross-border flows ofclimate finance, helping countries mobilise the resources needed to achieve the net-zero targets…

Despite a decline in the number of international tourists visiting South Africa in February, recent statistics reveal an encouraging trend in the tourism industry's recovery. Month-on-month the rate of growth in travelers, between January and February fell, which is not surprising given that February falls outside peak season. Yet, the year-on-year growth numbers were solid. Statistics South Africa’s most recent figures show that, when measured in current prices, income for the tourist accommodation industry increased by 12.1% in January 2025 compared with January 2024. This, it said, was due to a 4.5% increase in the number of nights each person stayed, and an 11.7% increase in the average income per stay unit night sold. Hotels saw the biggest increase, the print showed. In addition, accommodation income also increased in the…

Global renewable power capacity surged by a record 585 gigawatts (GW) in 2024, accounting for 92.5% of total power expansion, but the growth still lags behind the pace needed to triple capacity by 2030, the International Renewable Energy Agency (Irena) said on Wednesday. The annual increase, detailed in Irena’s Renewable Capacity Statistics 2025, brought total renewable capacity to 4 448 GW, marking a 15.1% growth rate - the highest since 2000. Solar and wind energy led the charge, comprising 96.6% of net renewable additions, with solar capacity rising 32.2% to 1 865 GW. Despite this milestone, the agency warned that an annual growth rate of 16.6% is now required to meet the 11.2-terawatt target set at COP28 for 2030. Irena director-general Francesco La Camera hailed the progress but underscored persistent…