Star 2025-04-17

The Vision Group announced on Wednesday that it has received competition approvals for acquisition of all Tongaat Hulett’s assets in Zimbabwe. Under the transaction, Ball Foundry has been given the nod by the Competition and Tariff Commission of Zimbabwe to acquire Triangle Sugar Corporation, which holds Tongaat Hulett’s operations in Zimbabwe. Prosper Ziyadhuma, an official with the Zimbabwe CTC, confirmed this to Business Report on Wednesday. “We had given them an intended decision as indicated in the notice they provided,” Ziyadhuma said. Vision Group, whose principals include Mpumalanga businessman Robert Gumede and Zimbabwean business executive Rutenhuro Moyo, has beneficial ownership in Ball Foundry, which is incorporated in Mauritius. “The purchase consideration will be settled by way of a set-off against a portion of the lender group claims. Triangle Sugar is…

In March South Africa's business environment reflected a sustained improvement in sentiment that began in June 2024, driven by stronger economic prospects. The South African Chamber of Commerce and Industry (Sacci) Business Confidence Index (BCI), released on Wednesday, climbed from a low of 107.8 in May 2024, during the national elections, to a high of 125.8 in February 2025, before slightly easing to 123.5 in March 2025. This March 2025 figure still marked an 8.8-point improvement over March 2024, with the first-quarter 2025 BCI averaging 123.1, compared to 113.9 in the same period of 2024. Sacci said, "The most positive short-term impacts on business sentiment in March were caused by increased tourism and exports, and lower inflation. Fewer imports, a weaker rand against the major trading and investment currencies, and…

Outlook for global trade has deteriorated due to a surge in tariffs, trade policy uncertainty, says WTO The World Trade Organisation (WTO) has warned that the volume of world merchandise trade could shrink as much as 1.5% this year, shaving off billions from the global economic growth as a result of the United States’ trade war with China. In its April Global Trade Outlook and Statistics report published on Wednesday, the WTO Secretariat said the outlook for global trade has deteriorated sharply due to a surge in tariffs and trade policy uncertainty (TPU). This comes after US President Donald Trump on 2 April announced a two-tier tariff structure: a baseline 10% tariff applied universally to imports from all countries with the exception of Canada and Mexico, and additional country-specific "reciprocal"…

South Africa’s tourism and hospitality sectors are poised for a vibrant Easter weekend, with expectations high for a significant surge in both domestic and international visitors. The launch of the 2025 Easter Campaign, led by Minister of Tourism Patricia de Lille at the scenic Atlantis Dunes in Cape Town, marks a renewed push to showcase the country’s diverse attractions, from breathtaking landscapes to rich cultural experiences. “Affordability remains a priority. Travelers are looking for more budget-friendly accommodation and experiences, making initiatives like Sho’t Left vital in ensuring more South Africans can explore their own country” she said. De Lille added that lesser-known destinations are in demand. “More South Africans are seeking off-the-beaten-path adventures, opting for places with fewer crowds and deeper cultural experiences. “ Personalised travel experiences are key.…

Under a sky of uncertainty and volatility, platinum emerges as a key player in a global economic landscape marked by trade tensions and geopolitical challenges. This precious metal, essential in the automotive, chemical, and jewelry industries, has seen its prices fluctuate dramatically in recent years. The current situation—framed by shifts in international policies and the pressure from previous tariffs—calls for a detailed journalistic analysis that uncovers both the challenges and opportunities for publicly traded companies that depend on this strategic resource. The Impact of Tariffs and Trade Tensions During the Trump administration, tariffs and protectionist measures were imposed that, although initially targeted at other sectors, extended their consequences to the platinum market. These measures increased import costs and generated an atmosphere of uncertainty in international trade. The resulting tensions not…

With President Donald Trump more unpredictable than ever and transatlantic ties reaching new lows, calls are growing louder for Europe to declare independence from US tech. From Microsoft to Meta, Apple to Uber, cloud computing to AI, much of the day-to-day technology used by Europeans is American. The risks that brings were hotly debated before Trump returned to power, but now Europe is getting serious -- pushing to favour European firms in public contracts and backing European versions of well-known US services. As Europe faces Trump's tariffs, and threatens to tax US tech unless the two sides clinch a deal averting all-out trade war, there is a growing sense of urgency. Tech sovereignty has been front and centre for weeks: the European Union unveiled its strategy to compete in the…