Star 2025-05-19

Transnet’s ongoing wage negotiations have reached an impasse, confirming fears of looming industrial action by workers as the United National Transport Union (UNTU) made a clear statement on Friday. After three days of mediation by the Commission for Conciliation, Mediation and Arbitration (CCMA) through the section 150 of the Labour Relations Act, UNTU reported that no progress had been made, compelling them to consider striking if their demands remained unmet. On Thursday, UNTU completed a ballot process with its members that disclosed a consensus to mobilise for industrial action should the wage negotiations fail. The union said the CCMA has committed to present a revised salary/wage offer by close of business on Monday. “If no revised offer is forthcoming, UNTU will issue Transnet with a 48-hour notice of industrial…

US envoys in Africa will be rated on commercial deals struck, not aid spent, a senior State Department official said, touting it as the new strategy for US support on the continent. President Donald Trump’s administration wants to eliminate trade deficits, and drive mutual prosperity, African Affairs senior bureau official Troy Fitrell said, according to remarks shared on Thursday. “Assistance involves a donor and a recipient, but commerce is an exchange between equals,” he added at the launch of the policy in Ivory Coast on Wednesday. US ambassadors in Africa had already shepherded 33 agreements worth $6 billion in Trump’s first 100 days, Fitrell said. “Trade, not aid, a slogan we’ve seen thrown around for years, is now truly our policy for Africa.” US goods exports to sub-Saharan Africa amount…

As South Africa braces for the upcoming budget 3.0, industry experts are closely examining the fiscal landscape, drawing attention to the critical decisions poised to impact the nation's economic future. Frank Blackmore, Lead Economist at KPMG South Africa, has highlighted a key takeaway: the anticipated increase in Value Added Tax (VAT) will no longer materialise, forcing the government to recalibrate its revenue expectations. Previously outlined in budget 2.0, the revenue anticipated from a VAT hike has now vanished. This development poses significant implications for the government's fiscal targets, particularly its commitment to achieving fiscal consolidation. Without the ability to increase public debt through borrowing to meet expenditure needs, the government finds itself cornered, necessitating cuts across various sectors. The pressing question, as noted by Blackmore, is: “Where will these expenditure…

S&P Global Ratings has warned that South Africa’s general government debt could remain high, averaging an unprecedented 80% of gross domestic product (GDP) in the three years to 2028. This would be much higher than the National Treasury’s estimate of an all-time high debt-to-GDP of 76.2% in the 2025/26 fiscal year. Finance Minister Enoch Godongwana has noted the need to avoid a notable rise in borrowing projections, with 2025/6 likely at 76.4% of GDP, 2026/27 at 76.1%, 2027/28 75.9 and 2028/29 at 75.3%. S&P on Friday, however, said public debt levels will remain elevated than expected given expenditure and revenue pressures, but said the government will continue its fiscal consolidation efforts. “We expect general government debt, net of liquid assets, will average 80% of GDP in fiscal 2025-2028. This is…

Foskor confirms its vice president for human resources Vincent Matlala has been arrested The State-owned phosphate producer Foskor has confirmed that its vice president for human resources and corporate affairs, Vincent Matlala, has been arrested for threatening a colleague with a firearm at the company's head offices in Midrand. This alarming event, has ignited discussions surrounding the potential corruption undercurrents within the firm, especially in light of recent developments tied to an R800 million bonus employee share scheme. It also comes as Foskor is still trying to recover from shock after Sifiso Mncube, a senior procurement executive at Foskor in Richards Bay, was gunned down by unknown assailants in his car in the suburb of Meer-en-See in Richards Bay in February 2024. In this new case, sources within Foskor have…

On May 14, 2025, the Presidency office declared that President Ramaphosa would be travelling to the US for a working visit from May 19 to May 22. He is joined by John Steenhuisen, Minister of Agriculture; Parks Tau, Minister of Trade, Industry, and Competition; Ronald Lamola, Minister of International Relations and Cooperation; and Khumbudzo Ntshavheni, Minister at the Presidency. This comes after a string of topics that President Trump and his administration have brought up, including the conflict between Russia and Ukraine, the case against Israel in the International Court of Justice, and most recently, the allegations of "persecution" of white farmers that resulted in the migration of 49 Afrikaners to the United States. To mend the misinformation about South Africa that has caused misconceptions and to re-establish diplomatic relations…