Innholdsfortegnelse for 2025-04-10 i Star

International markets are in turmoil as US President Donald Trump’s tariffs – which have been revised upwards for many countries – came into effect at midnight with a negative spillover effect anticipated for South Africa as the rand flirts with historic lows. Old Mutual Group chief economist, Johann Els, has also downgraded his South African growth forecast marginally, down from 2.2% to 1.7% in response to expected softness in US-linked exports but does not foresee a local recession. The South African Reserve Bank’s most recent estimate was 1.9% for 2025. “China and the Euro Area, South Africa’s primary trading partners, are expected to adopt accommodative policy stances, which should help offset lost momentum,” said Els. Yet, as Donald MacKay, founder and CE of XA Global Trade Advisors, told IOL from…

South Africa's financial services led the JSE lower on Wednesday as the local bourse tracked large declines in stock markets all over the world, with investors fearing a global recession arising from the brewing US and China trade war. The global meltdown on stock exchanges due to the imposition of import tariffs by US President Donald Trump on the US's trade partners and counter duties by China saw the JSE All Share Index lower by 2.07% to 82 486 points just after 5pm, and 8.05% down over the last four weeks. Similarly the London Stock Exchange's FTSE 100 Index had fallen 3.25%, the Euro Stoxx 50 Index of leading blue-chip companies in Europe had fallen 3.48%, while the Nikkei had ended 3.9% lower in Japan. On the JSE, the declines…

Since market deregulations in 1996, South Africa’s agricultural growth strategy is premised on continuous access to export markets in Europe and America, while also expanding export footprint to special markets in Asia and the Middle East. The government and the private sector in South Africa have been very successful in forging new trade relations and promoting the country’s image as a trusted and capable exporter of quality agricultural products. In terms of products composition, the country has a competitive edge in fruits like citrus, table grapes, avocados, apples and pears. The country also has a competitive advantage in sugar, wool, mohair, maize, nuts and wine products. The country does have the capability to export meat, however, biosecurity issues coupled with inferior genetics amongst black farmers, who are estimated to own…

Five years on from the beginning of lockdown and the world of work is not what it used to be. Apart from the rise of remote working, the pandemic years brought about a rate of technological advancement in a few years that is equivalent to the previous 50. While many in-person businesses closed, the gig economy exploded with 2.1 million workers going into freelancing in 2020 alone. In South Africa, while this migration was motivated by unavoidable retrenchments and widespread economic instability, across the world, another mass exodus from traditional work occurred in 2021 when workers voluntarily left their jobs driven by a desire for better opportunities and improved work-life balance in what is now referred to as the Great Resignation. The benefits of hiring freelancers The hybrid model became…

Jubilee Metals Group has entered into a partnership with a local miner in a bid to address the mounting piles of platinum group metals (PGM) feedstock at its South African operations. This agreement, announced on Wednesday, is set to facilitate the processing of at least 18 000 tons of surplus material monthly, marking a significant step in Jubilee's operational efficiency. Jubilee has copper operations in Zambia as well as PGM and chrome operations in South Africa. “Our preference is to partner with existing PGM producers to process this excess stock rather than investing further capital to expand our own PGM capacity,” said Jubilee CEO, Leon Coetzer. Although Jubilee did not name the South African PGM producer it has partnered for this agreement, Coetzer said transaction offers the company “the opportunity…

Prince Harry and his wife Meghan, Duchess of Sussex were “forced” to step back from royal family duties because they were “not being protected by the institution”. The 40-year-old Duke of Sussex made this claim as he challenged a decision made by the High Court last year, which dismissed his case against the Home Office and the Executive Committee for the Protection of Royalty and Public Figures (Ravec). He has now launched a fresh legal battle at the Court of Appeal, seeking to overturn that ruling by arguing his security arrangements were unjustly downgraded after he stepped down as a working royal in 2020 with his wife Meghan, 43. A two-day hearing in London that started on Tuesday marks the latest development in a long-running legal dispute over whether…

In granting R10 000 bail for a Congolese national who was arrested in connection with alleged assault and torture incidents at the Zanzou nightclub in Pretoria, the magistrate said he did not take this decision lightly, but he concluded that it is in the interests of justice that he receive bail. The accused man, who cannot be named as per court order because identity parades are still being conducted by police, was granted bail by the Pretoria Magistrate’s Court on Wednesday. He was arrested in February in Yeoville, Johannesburg, following the gruesome incident at the Hatfield club during which a group of patrons were recorded on video while being severely assaulted. Magistrate Ernest Mbembele said while the nature of the alleged offences, as stated in the charge sheet, is very…

Cooperative Governance and Traditional Affairs (Cogta) Minister Velenkosini Hlabisa plans to tighten the law authorising the government to intervene in struggling provinces and municipalities and go after anyone frustrating such interventions. The Intergovernmental Monitoring, Support and Interventions (IMSI) Bill sets out the parameters of all interventions by the national government in provinces. The bill will also govern interventions by provincial governments in municipalities facing challenges. In terms of Section 100 of the Constitution, the national government may intervene in provincial administration when a province cannot or does not fulfil an executive obligation in terms of the country’s supreme law. These interventions include issuing a directive to the provincial executive, describing the extent of the failure to fulfil its obligations and stating any steps required to meet its obligations, and assuming…

Siphesihle Mabaso, former Big Brother Mzansi housemate, has announced her exciting venture into music. The talented 28-year-old is gearing up to release her debut single as a vocalist, promising an impressive lineup of collaborators.She shared the news with her fans and followers on X (formerly Twitter) and Instagram, generating significant buzz and anticipation around her music debut. Siphesihle showcased her vibrant personality and charisma during her time in the house. Born in Mpumalanga, she's a multifaceted individual with Her experience on the show has undoubtedly prepared her for the spotlight, and she's now taking a bold step into the music industry.While the specifics of her debut single are yet to be revealed, fans are eagerly awaiting the release, curious to hear how Siphesihle's unique voice and style will come…

South Africans are fond of the outdoors and whether it’s a trailer, bush-caravan, caravan, boat, jetski, off-road trailer or motorbikes we don’t think twice about hooking them up behind our cars and towing them for hundreds of kilometres. It’s once we get there that things become a challenge because more often than not they need to be reversed into place and that’s when things become difficult. Correct licence needed Before that though, you must know that to be able to tow in South Africa you need an EB license. Unlike many years ago where you automatically received an EB license the most common licence nowadays is a Code B. In order to get an EB license you have to be tested and found to be competent by a testing station.…

Maritime industry stakeholders celebrated the significant progress made by Transnet in eliminating the backlog of vessels at anchorage in Durban, dropping the number from 20 to zero in 2024. This achievement comes as a relief to shipping lines, importers, and exporters who have faced costly delays in trade due to port congestion Managing Executive at the Durban Terminals, Earle Peters, made the announcement during Transnet Port Terminals (TPT) celebration of 200 000 TEUs at Durban Multipurpose Terminal (MPT) on Tuesday. Peters said that this performance was testament to increased trade, an improving economy, and the terminal’s growing capabilities, supported by a dedicated workforce ensuring reliable cargo handling. “Over the last five years, the terminal had taken delivery of four reach stackers. The Durban MPT was instrumental in the execution of…

The imposition of a 30% reciprocal tariff on South African agricultural exports by the US represents a turning point in bilateral trade relations. This protectionist measure, seemingly implemented in response to South Africa's trade barriers, threatens to undermine decades of carefully cultivated economic cooperation while exposing the vulnerabilities of the export-dependent agricultural sector. The timing could hardly be worse for South African producers, as many are still recovering from pandemic-related disruptions and facing increasingly challenging global market conditions. In 2024, South African total agricultural exports recorded about $13.7 billion (R253.5bn); the US absorbed about 4% of this total. Over the years, several high-value agricultural subsectors have relied on African Growth and Opportunity Act (Agoa) to capitalise on the US market through its duty-free access provision for a wide range of…

As the pet industry in South Africa continues to boom, Nadia Koegelenberg, the photographer behind the lens at Moonrise Creative Studio, was able to blend her two most loved passions, animals and photography into a blossoming business. Koegelenberg’s Moonrise Creative Studio specialises in photography and graphic design putting her Bachelor’s degree in Visual Communication to good use. "While I explore all avenues of photography, my heart belongs to pet photography, a passion inspired by my own two beloved dogs: Maverick, a loyal German Shepherd-Labrador mix that doubles as my shadow and Hudson my sweet Pittie who’s really just a baby in disguise," Koegelenberg told Business Report. The young photographer said that entering the highly competitive world of photography was anything but easy, as she stepped into the industry after her…

Nampak has concluded agreements for the disposale of its Zimbabwean unit with the transaction now subject to suspensive conditions. Through Nampak Southern Africa, the South African packaging manufacturer is disposing of Nampak Zimbabwe to TSL, a Harare-based logistics and processing company. “Regarding the proposed disposal of a 51.43% shareholding in the Company by Nampak Southern Africa Holdings Limited, shareholders and the investing public are advised that the seller and TSL Limited have concluded a sale and purchase agreement in respect of the sale, which agreement remains subject to various suspensive conditions,” Nampak Zimbabwe said on Wednesday. It is expected that Nampak Zimbabwe will make an announcement of the complete disposal in the next few weeks. TSL is acquiring Nampak Zimbabwe for a purchase consideration of $25 million. In compliance with…

The funding of South Africa's ambitious National Health Insurance (NHI) initiative has recently sparked significant concern among medical professionals and civil society, as government proposals indicate a potential 0.5% rise in the Value Added Tax (VAT) to support this landmark health reform. Dr Mvuyisi Mzukwa, chairperson of the SA Medical Association (SAMA), yesterday said that they noted with growing concern the recent indications that the government is considering increases to VAT as a means to fund the NHI. “While SAMA supports the objective of achieving universal health coverage, we must be unequivocal in our assessment: relying heavily on VAT to finance NHI is both economically regressive and socially unjust,” Mzukwa said. “VAT is an inherently blunt instrument. It applies equally to all consumers, regardless of income level, disproportionately affecting lower-income…

RIVERS of Living Waters Church leader Bishop Bafana Stephen Zondo yesterday asked for the recusal of the judge hearing his trial in which he is accused of raping members of his flock, claiming that the judge is biased and had already made up his mind about his guilt. Zondo last month applied for a discharge on the 10 charges he is facing. This was after the State had closed its case following a lengthy trial. It was Zondo’s turn to present his defence before the Gauteng High Court, Pretoria. He, however, chose to ask for his acquittal as he argued that at this point, the State did not prove that he had a case to answer to. According to him, the evidence was weak and it is clear that their…

As the Global South embraces Artificial Intelligence (AI), it is essential to review whether and how its countries have benefitted from previous technological revolutions. More significantly, why and how will AI’s impact be any different? What is new under the sun? The First Industrial Revolution (1760 – 1870) utilised water and steam power to mechanise production. The Second Industrial Revolution (1870 – 1965) used electric power to facilitate mass production. The Third Industrial Revolution (1965 – 2011), commonly referred to as the digital revolution, employed electronics and Information and Communications Technology (ICT) to automate production. The AI-driven Fourth Industrial Revolution (4IR), which began in 2011 and continues to the present, builds on the digital revolution. Most countries in the Global South did not substantially benefit from the initial three industrial…

The Leapmotor C10 REEV midsize SUV to be launched in South Africa this year is a Battery Electric Motor (BEV) but technically it’s also not. We’ll get to why but if you haven’t heard of Leapmotor before, it’s a Chinese manufacturer that Stellantis has a 20% stake in and owns 51% of Leapmotor International, a joint venture with Leapmotor. As a reminder, in South Africa Stellantis has Citroen, Fiat, Jeep, Alfa Romeo, Opel, Peugeot, Abarth and soon Leapmotor under its umbrella. What is REEV? REEV stands for Range Extender Electric Vehicle which is essentially a hybrid vehicle that combines BEV technology with an internal combustion engine (ICE). It’s not a hybrid vehicle as we’ve come to know it, like the Toyota Corolla Cross Hybrid that uses a traditional hybrid model.…

BYD has effectively doubled its model range in South Africa with the introduction of the highly-anticipated Shark 6 double cab bakkie as well as the Sealion 6 hybrid SUV and Sealion 7 electric SUV. The BYD Shark 6 is the firm's first bakkie, and introduces its DMO Super Hybrid Off-road Platform. Priced at R959,900, it is officially South Africa's most powerful bakkie. The EHS electric hybrid powertrain gives the predatory pick-up some serious bite, with outputs listed at 321kW and 650Nm. The Ford Ranger Raptor, for the record, musters 292kW and 583Nm. The hybrid system pairs two electric motors with a 1.5-litre turbocharged petrol engine. It's rather quick too, with BYD claiming a 5.7-second 0-100km/h sprint time. Thanks to a 29.5 kWh BYD Blade battery, the vehicle also boasts…

Artificial Intelligence (AI) is a marvel, a shimmering beacon of human ingenuity that I adore with every fibre of my being. From its ability to sift through mountains of data to its promise of revolutionising healthcare, education, and industry, AI is the beating heart of a progressive future. As a South African, I dream of a nation where AI lifts us from historical shackles, turbocharging economic growth and levelling the playing field. But here’s the provocative kicker: pouring resources into crafting sui generis AI legislation right now is a misstep – a seductive trap that could strangle this vibrant technology in a morass of overregulation. Yes, I’m throwing down the gauntlet, but let’s unpack this respectfully, engaging with brilliant minds like Sizwe Snail Ka Mtuze, Masego Morige, and Theshaya Naidoo,…

Proteas Test captain Temba Bavuma has been ruled out of the Cricket SA Four-Day Series first-class final due to injury. Bavuma was expected to feature for the Lions against the Titans in the domestic showpiece, which will begin at the Wanderers on Thursday (10am start). The national captain has yet to play for the Lions in the first-class competition this season, despite the Proteas playing their last international match more than a month ago. All the Proteas Test squad members not participating in the IPL have since played first-class cricket for their respective provincial unions. Bavuma was part of the Lions’ squad for last week’s match against the Knights in Bloemfontein, but the match was abandoned without a ball being bowled. The official statement from Lions Cricket regarding Bavuma’s situation…

Trump last night gave all countries a 10% baseline except China, which will see even higher levies at 125% The rand recovered instantanously on Wednesday night after suffering a near record low earlier in the day after US President Donald Trump announced a 90-day pause on his sweeping tariffs, whic hammered global markets and raised the odds of recession. Trump on Wednesday gave all countries a 10% baseline except China, which will see even higher levies at 125%, saying that more than 75 countries had asked for negotiations over the hefty tariffs. "Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately" Trumo said on Truth Social.…

These are tumultuous times. Global geopolitics has sharply turned towards isolationism, protectionism, and transactional diplomacy. Under the Trump administration's revived leadership in the US, the world is witnessing the resurgence of trade wars and punitive tariffs. South Africa is finding itself increasingly at the crossroads of this geopolitical chessboard, especially as it pushes ahead with long-overdue reforms in land redistribution and agricultural transformation. The renewed economic nationalism from Washington is unsettling. For South Africa - a key player on the African continent and a country with a complex yet critical trade relationship with the US - this shift has immediate and far-reaching consequences. Agriculture, in particular, stands vulnerable. The sector, which had begun to reap modest but important benefits from the African Growth and Opportunity Act (Agoa), now faces the…

The African Continental Free Trade Area (AfCFTA), which commenced trading in 2021, represents a historic opportunity to unite 1.3 billion people under a single market with a projected gross domestic product (GDP) of $3.4 trillion (R61.2trl). However, SMMEs’ ability to participate meaningfully in this transformative trade framework remains constrained by systemic barriers, particularly access to finance, market readiness, and operational scalability. According to the African Development Bank (AfDB), Africa’s SMME financing gap stands at a staggering $331 billion annually, with formal SMMEs receiving less than 20% of the credit they need. Non-tech sectors such as agriculture, manufacturing, retail, and services are disproportionately affected, as investor attention remains skewed towards scalable technology-driven ventures. Without deliberate interventions to bridge this financing gap, there is a real risk that the AfCFTA will deepen…

Purple Group saw its strongest half-year performance after its financial services and online platforms generated good revenue growth, efficiencies improved, and client engagement increased. Results for the six months to February 28 on Wednesday showed attributable profit up 208.5% to R33.5 million. Revenue increased 25.8% to R238m. Operating expenses increased 13%, well below revenue growth. Some of the group brands include EasyEquities, EasyCrypto, EasyRetire, and EasyTrader. “We're hitting our stride. This isn't just growth - it's proof our platform model scales with discipline and client-led intent. While the macro environment is easing, uncertainty around global trade tactics - particularly from the US - continues to influence sentiment,” CEO Charles Savage said. Headline earnings a share increased 204.1% to 2.36 cents, exceeding the August 31, 2024 full-year earnings per share of…

The United Nations (UN) in Africa has urged the continent to find self-sustainable measures for development finance in a bid to counter the suspension of aid from the United States. Claver Gatete, UN Under-Secretary-General and Executive Secretary of Economic Commission for Africa, said the next five years to 2030 must be marked by bold leadership, decisive policies and strengthened partnerships that will place Africa on a trajectory of sustainable prosperity. Gatete highlighted several structural vulnerabilities restraining Africa’s progression, including the lingering impacts of COVID-19, climate shocks, persistent conflicts, geopolitical tensions, and an escalating debt burden that currently stands at 64.3% of GDP. He said that such a high debt ratio severely narrowed the fiscal space for crucial investments in vital sectors such as education, health, and infrastructure. Furthermore, Gatete…

THERE was widespread condemnation and outrage after the South African National Defence Force (SANDF) was reportedly seen assisting police at the march to demand justice during the #JusticeForCwecwe march in Matatiele, Eastern Cape. As political parties demanded answers from the African National Congress (ANC), President Cyril Ramaphosa and the SANDF reacted swiftly to try to explain the presence of the soldiers in the vicinity of the march on Tuesday. SANDF spokesperson Siphiwe Dlamini stated on Wednesday that despite reports suggesting the military's involvement in monitoring the protest, the soldiers in the vicinity were solely conducting border safeguarding duties. “We would like to express sincere regret regarding the incident where our soldiers were seen during the march against gender-based violence in Matatiele,” Dlamini said. “We are cognisant of the unacceptably high…

After months of being a driving force behind the popular “Piano Pulse” podcast, Munaka Muthambi, fondly known as Munaka, has announced that she is bowing out from the show. “Piano Pulse”, a new show promising a blend of entertainment, industry gossip, and a dash of spice, joined Mac G’s Podcast and Chill Network in August 2024. The podcast came and delivered just that and more. The very first episode had an instant impact, with viewers up in arms due to the hosts’ views. Since then, the podcast has gained a significant following. Munaka has been an essential part of the podcast since its inception. The podcast, known for its unfiltered discussions and often-controversial comments, has been a staple in the podcasting world. She started as a TikTok content creator before…

It’s considered one of the most iconic racing tracks in the world and we’ll be driving it as fast as we can at the Kyalami Extreme Festival this weekend. It’s Round 2 of the Toyota GR Cup Challenge and the stakes couldn’t be higher. Round 1 in Cape Town at the Killarney Racetrack was our first outing as GR Cup drivers and my nerves only really settled after the qualifying round. It was also our first race in the manual all-wheel-drive Toyota GR Yaris with the GR86 Development Academy youngsters and Dealer Challenge drivers in GR Corollas all going hell for leather at the same time. Think of it as a traffic jam but going as fast as you can. 16 corners I reckon we now have a clearer idea…

Mamelodi Sundowns’ advancement to the semi-finals of the CAF Champions League on Tuesday night could very well spell more trouble for struggling Kaizer Chiefs. Sundowns will host Chiefs in the semi-final of the Nedbank Cup at Loftus Versfeld in Tshwane on Sunday evening (6pm kick-off). This could be the worst possible time for Chiefs to face Sundowns, as the Brazilians will be flying high after their recent triumph over Espérance de Tunis in the Champions League. Sundowns advanced with a 1-0 aggregate scoreline after a Peter Shalulile strike in the first leg at home gave them the advantage, which they sorely needed ahead of the second leg in hostile Tunis on Tuesday night. Sundowns are expected to be in a bullish mood on Saturday and beyond, as beating Espérance brings…

Jose Riveiro is the conductor of his own orchestra as he continues to produce sweet melodies in his last dance at Orlando Pirates. The outgoing Pirates coach guided his team to the CAF Champions League semi-finals after beating MC Alger 1-0 on aggregate on Wednesday night. Riveiro’s men did most of the job away in the first leg, after winning 1-0 courtesy of a Mohau Nkota goal, and finished it off with a goalless draw at a buzzing Orlando Stadium on Wednesday night. Pirates will face Pyramids in the semi-final – a feat that they’ve reached for the first time since losing as finalists in 2013. It’s fast becoming a fairy-tale end to Riveiro’s stint after he announced he’ll not be renewing his three-year contract at the end of the…