Star 2025-09-15

A recent report from the BRICS Competition Law and Policy Centre has spotlighted growing concerns regarding the impact of dominant global commodity traders on food prices, particularly in the grain sector. Released on Friday, this report sheds light on how a handful of companies control an overwhelming share of the global bulk grain trade, exacerbating issues of food affordability and availability worldwide. In an interview with Business Report, Alexey Ivanov, director of the Centre and a Professor of Law at HSE University, discussed the alarming concentration of power in the hands of traders commonly referred to as the ABCD group—Archer Daniels Midland, Bunge, Cargill, and Louis Dreyfus—as well as significant emerging players such as COFCO, Wilmar, and Olam, collectively termed ABCD+. Ivanov said this coalition now wields control over an…

South African companies who were part of the 30-member business delegation showcasing their products and services at the Intra-Africa Trade Fair (IATF) held in Algeria have said that they are looking forward to doing business in Algeria and the rest of the continent. This comes after generating many promising trade leads during the fair last week. Dr Khulile Mtsetfwa, CEO of Swatek Defence and Aerospace, stated on Friday that the company signed three memoranda of understanding focusing on distribution lines in Algeria. The company specialises in the design and manufacture of quality wiring harness, military dashboards, battery boxes, dashboard test bench and providing innovative electrical solutions to defence, aerospace, aviation, rail and automotive sectors. “The plan is to make sure that we build relations and maintain the line of communication…

Ratings agency affirms SA’s long-term foreign-currency issuer default rating at ‘BB-’ outlook stable Fitch Ratings has affirmed South Africa’s long-term foreign-currency issuer default rating at ‘BB-’ with a stable outlook, citing weak economic growth prospects, rising government debt and high poverty and inequality as the country’s main credit constraints. In its latest review published on Friday, the ratings agency said South Africa's sub-investment rating was also constrained by the rising government debt/GDP ratio and a rigid fiscal structure that hampers budget deficit reduction. South Africa slipped further into below investment grade in 2020, with foreign currency ratings reaching a bottom of BB- under Fitch. However, Fitch said the ratings were supported by a favourable government debt structure with long maturities and mostly local-currency-denominated, strong institutions and a credible monetary policy…

The Accountant General has raised alarms over the increasing audit fees imposed on government entities and municipalities by the Auditor-General of South Africa (AGSA). During discussions before Parliament’s Portfolio Committee on the Auditor-General (PCOAG) on Friday, Accountant General Shabeer Khan revealed a staggering 13% increase for the upcoming 2024/2025 financial year, alongside a 7.2% rise observed in the current year. This escalation in costs raises serious concerns about its implications on critical service delivery across municipalities, particularly for smaller entities grappling with their constrained budgets. Khan articulated his frustrations over the AGSA's apparent disregard for mandatory consultations with government and parliamentary bodies regarding these audit fees. "Between 2023/2024 there has been an increase of around 13% and then between 2024/25 and the current financial year, there has been a 7.2%…

The latest cargo movement report released by the South African Association of Freight Forwarders (SAAFF) and Business Unity South Africa (BUSA) for the week ending 7 September reveals a significant surge in cargo handling across the nation's ports and transport networks. This increase comes amid ongoing operational challenges that have raised concerns among industry stakeholders regarding the fluidity of cargo movements. According to the report, South African container terminals recorded an average handling of 14 727 Twenty-foot Equivalent Units (TEUs) daily, surpassing the previous record of 14 487 TEUs set in the week ending 20 July by 1.7%. This represents a notable week-on-week increase from 13 842 TEUs. However, despite the record throughput, several operational issues hampered efficiency, including adverse weather, equipment breakdowns, and vacant berths. Cape Town experienced reduced…

When news broke that China would inject $10 billion into South Africa’s technology and industrial sectors, it sparked both excitement and scepticism. Position it as the biggest external bet on South Africa’s innovation future to date. For a country where economic stagnation, youth unemployment and skills erosion have become generational challenges, the investment appears messianic. But is this the turning point South Africa has been waiting for, or another headline promise destined to join the long list of initiatives that did not deliver as intended? The truth is that South Africa has never been short of ambitious plans. From the Reconstruction and Development Programme (RDP) to the Accelerated and Shared Growth Initiative for South Africa (ASGISA), bold frameworks repeatedly promised jobs, transformation and growth. Yet poor execution, weak governance and…