Star 2025-06-02

South Africa recorded a preliminary trade balance surplus of R14.1 billion in April, the South African Revenue Service (Sars) reported on Friday, a decline from the revised R22.6bn surplus in March. The April surplus was driven by exports of R166.2bn and imports of R152.1bn, including trade with Botswana, Eswatini, Lesotho, and Namibia (BELN). However, the surplus was lower than the R24.8bn recorded in March, reflecting a month-on-month export decline of R4.3bn (-2.5%) and an import increase of R4.3bn (2.9%). Compared to April 2024, exports fell 4.0% from R173.2bn, while imports dropped 4.2% from R158.8bn. The year-to-date trade surplus (January to April 2025) stood at R39.7bn slightly below the R40.6bn surplus for the same period in 2024. Sars attributed the export decline to reduced shipments of grapes, gold, and…

Shares in Santova, the JSE-listed international supply chain solutions group, surged over 9% on Friday after after it had acquired 100% of The Seabourne Group, a logistics provider across the UK and Europe, for about R417.7 million. Santova’s share traded 9.33% higher to close at R8.20 on the JSE on Friday. The Seabourne Group has nine offices and warehouses in the UK, Netherlands, and France. Its services include Customs Clearing & Freight Forwarding, fulfilment centres, and boutique services such as in the publishing sector, mainly in subscription magazines. Santova is already represented in 11 countries through its offices in South Africa, Australia, China, Germany, Hong Kong, Mauritius, Netherlands, Singapore, UK, US, and Vietnam. Santova’s directors owned 21.05% of the group shares as of February 28, 2025, and there were no…

ACTOM has invested R32 million in a cutting-edge industrial fan manufacturing plant in Driehoek, Germiston, marking a significant step toward advancing South Africa’s industrial capabilities. The facility was officially opened by Minister of Trade, Industry and Competition, Parks Tau, who hailed it as a milestone in the country’s reindustrialization efforts. “This investment repositions South Africa as a globally competitive industrial economy, rooted in localization, innovation, and sustainability,” Tau said during the opening ceremony. “ACTOM’s commitment demonstrates how strategic government procurement, aligned with industrial policy, can drive tangible economic growth. This facility is not just a vote of confidence in our economy—it’s a bold leap toward building the energy and industrial infrastructure we need.” Tau further said the plant will manufacture large-scale industrial fans essential for key sectors such as energy,…

SA forced to adapt to new challenges as President Trump announces fresh round of import tariffs South Africa must adapt to new challenges as US President Donald Trump announced a fresh round of import tariff hikes of up to 50% on steel and aluminium this week, compounding the effects of April’s 25% increase, according to stakeholders and analysts. The local sector is still grappling with disrupted global supply chains, rising manufacturing costs, and reduced competitiveness for South African automotive products in the US market. Many South African businesses are now exploring alternative markets in Africa, Asia, Europe, and the Middle East to reduce reliance on the US. The announcement came as South Africa and other countries trading with the US benefited from a 90-day tariff suspension beyond the 10% base…

In a play on its "Phanda Phusha Play" slogan, Ithuba Lottery has introduced "No Pause, Just Play" as it confirmed a 12-month temporary extension of its operating licence, while the incumbent licence holder, Sizekhaya, prepares to put systems in place. In a statement yesterday, Ithuba said that after careful consideration and prioritising the interests of South Africans, it had reached an agreement with the Minister of Trade, Industry and Competition and the National Lotteries Commission to operate the South African National Lottery, ensuring its ongoing contribution to good causes. "As a proudly 100% black-owned South African operator, Ithuba remains steadfast in its commitment to operating the National Lottery with integrity, transparency, and for the benefit of South Africans. Participants can rest assured that all games, draws, and prize payouts will…

Saudi Arabia, Russia and six other key OPEC+ members announced on Saturday a huge increase in crude production for July. They will produce an additional 411 000 barrels a day - the same target set for May and then June - according to a statement, which is more than three times greater than the group had previously planned. In recent years the 22-nation group had agreed to daily reductions of 2.2 million barrels with the aim of boosting prices. But in early 2025, leading members of the group known as the "Voluntary Eight", or V8, decided on the gradual output increase and subsequently began to accelerate the pace. The moves have resulted in oil prices plummeting to around $60 per barrel, the lowest level in four years. OPEC+ "struck three…