Inhaltsverzeichnis für 2025-03-19 in Mercury

Tensions with the United States could propel South Africa to depart from the African Growth and Opportunity Act (Agoa) agreement, a development that could also have regional ramifications and add to uncertainties dogging the government of national unity. Bilateral tensions have ratcheted up between South Africa and the US under President Donald Trump in the past few weeks. The US has cut aid advances to South Africa while there is increasing consensus that the simmering tensions will culminate in South Africa leaving Agoa. “Our baseline view is that South Africa Africa will exit Agoa (but) we can't however, tell you with any certainty when that will be the case,” said Gina Schoeman, South Africa economist for Citigroup, on Tueday. Scheoman added that South Africa was likely to exit Agoa next…

The Financial Sector Conduct Authority (FSCA) has shed light on significant discrepancies in the complaints management processes of South Africa's banking sector. This comes following a comprehensive thematic review aimed at measuring the alignment of these processes with established regulatory requirements. The findings reinforce the FSCA's unwavering commitment to enhancing industry practices while ensuring the fair treatment of financial customers. The FSCA is the market conduct regulator of financialinstitutions in South Africa manfated to protect financial customers bypromoting fair treatment of financial customers by financial institutions, including banks Conducted as part of the FSCA's ongoing supervisory efforts, the review assessed how effectively banks were managing complaints, particularly in relation to Conduct Standard 3 of 2020 (Banks). This pivotal standard, which came into force in July 2021, lays down rigorous expectations…

Transnet National Ports Authority said on Tuesday that it was moving ahead with the redevelopment and expansion of Bayhead Road to ease truck congestion and improve operations at the Port of Durban. This was revealed at a media engagement with Port of Durban acting manager, Nkumbuzi Ben-Mazwi. TNPA said it was also moving ahead with plans to start to build a second access road to Port Durban to the value of R3.2 billion. Johnny Mokheseng, programme director for mega projects at TNPA, said that a feasibility study for the expansion of Bayhead Road was currently underway. “We plan to complete the feasibility study by the end of the year and hope that construction for the expansion will start next year,” he said. “In the interim, we will do rehabilitation and…

South Africa’s renewable energy landscape received a significant boost this week as two major projects reached financial close. Red Rocket, a prominent renewable energy independent power producer (IPP), has finalised funding for the first phase of the Overberg Wind Farm, set to become South Africa’s largest privately developed single wind farm. Simultaneously, energy trader Etana Energy, in collaboration with developers Mulilo and H1 Holdings, secured financial backing for the 75-megawatt (MW) Du Plessis Dam Solar PV2 project, marking a pioneering milestone in the nation’s utility-scale renewable energy market. Overberg Wind Farm The Overberg Wind Farm, located near Swellendam in the Western Cape, represents a flagship achievement for Red Rocket. With a total planned capacity of 380MW across two phases, the first phase will deliver 242MW, of which 230MW has been…

Super Group, the global logistics and mobility business, is facing significant challenges in its European markets and has decided to sell its InTime courier and freight business in that region. The group reported a 7.6% decline in revenue on Tuesday to R23.67 billion for the six months to December 31, driven mainly by weaker performances in the UK Dealerships and Supply Chain Africa commodity businesses. Earnings before interest, tax, depreciation, and amortisation fell 5.2% to R1.85 billion and operating profit fell 13% to R959.8 million. Headline earnings a share were 24.2% lower at 104.8 cents. Nevertheless, the share price gained 3.43% to R28.34 on the JSE Tuesday afternoon, up from R25.71 a year ago. The Supply Chain Europe division, particularly InTime, saw a big drop in auto parts distribution volumes…

Are we getting dumber? The idea that human intelligence is on the decline might sound like a dystopian exaggeration, but recent research suggests there’s more truth to it than we’d like to admit. Cognitive skills like problem-solving, critical thinking, information processing, and even basic concentration are reportedly weakening across age groups globally. But why is this happening, and what does it mean for us as a society? Are we really losing our edge? Studies from various reputable organisations have shown that our cognitive abilities are taking a hit. For instance, the University of Michigan’s Monitoring the Future study revealed that 18-year-olds in America are experiencing increasing difficulty concentrating. Globally, the Programme for International Student Assessment (PISA), which measures the learning skills of 15-year-olds, has also shown a steady decline in…

Medium-sized businesses that should be the engine for economic growth and job creation are being lost to Durban. Hundreds of these businesses, with employees between 5 and 10, have either closed down or moved away from the city. This was revealed by an official from the Durban Chamber of Commerce and Industry (DCCI) during a business breakfast meeting to discuss the country's and the city's economic outlook yesterday. Ajiv Maharaj, the DCCI Economic Affairs chairperson and a senior official at the eThekwini Municipality, said the information was extracted from the data supplied by the SA Revenue Service. Maharaj outlined the city's performance and revealed that its economic fortunes are mixed. He noted that while the recovery from Covid-19 and natural disasters was progressing well, some key performance indicators, like tourist…

SOUTH Africa suffered a R2.8 trillion loss from rotational load shedding in 2023 as the country experienced the highest and most intensified bouts of power cuts during then-chief executive Andre de Ruyter’s term than any other year. However, the economy recovered in 2024 as the country experienced more than 300 consecutive days without load shedding as no power cuts materialised between April and December 2024. This was according to the Council for Scientific and Industrial Research (CSIR) in its utility-scale power generation statistics report covering January to December of 2024. The CSIR report also noted that the national average price of electricity increased by 12.74% this year to reach 195 c/kWh, which is much higher than the cost of the latest variable generation resources that ranged between 50 and…

Political instability in South African municipalities is affecting enforcement action as well as the quality and management of waste collection, with 60% of landfill services sites not compliant in the 2023/2024 financial year. This was brought to the fore during a presentation by the Department of Forestry, Fisheries and the Environment (DFFE) on waste management, including the compliance status of municipal landfill sites in South Africa. The overview was presented to the Portfolio Committee on DFFE yesterday. There are 544 landfill sites in SA. Mamogala Musekene, deputy director-general of DFFE Chemicals and Waste Management, said in the overview report that South Africa was faced with basic service backlogs, including the provision of basic waste services. Musekene said inspections revealed that in the 2023/2024 financial year, 16% (25 sites) were compliant;…

With Kwena Maphaka, South Africa witnessed an unrivalled rise to the highest level. Maphaka went from playing in the ICC Men's Under-19 World Cup to becoming a fully fledged, all-format Proteas player in less than 12 months — a rise the country has arguably never witnessed before. At 18-years-old, Maphaka became the youngest ever Proteas Test cricketer, breaking Paul Adams' record, which had stood for almost three decades. With sheer pace, accuracy, and consistency, Maphaka broke into the Proteas' 2025 ICC Champions Trophy squad, albeit as a travelling reserve. South Africa made it to the semi-finals of the tournament, and even though Maphaka did not play a single game, he would have gained invaluable experience that could benefit South Africa in the future ... and more immediately in the upcoming…

Springbok and Sharks superstar Eben Etzebeth will not make his eagerly-awaited comeback this week in the Durban team’s United Rugby Championship (URC) match against Italian outfit Zebre, a spokeperson within the Durban-based team revealed to Independent Media on Tuesday. "Eben will not be avaliable this week," said the spokeperson. It is, hopefully, a case of the big guy saving himself for the big stage — next week’s game at Hollywoodbets Kings Park against Irish giants Leinster. Nonetheless, South African rugby will continue to hold its breath as the Bok legend returns from a lengthy concussion-enforced break from the game. The 33-year-old suffered a head knock in the Sharks’ Champions Cup match against the Exeter Chiefs on December 7 in 2024 in Durban and the Sharks, to their credit, have insisted…

African Rainbow Capital Investments (ARCI), part of the broader African Rainbow Capital group owned by well-known businessman Patrice Motsepe, plans to delist from the JSE and A2X markets via an offer to buy all the shares. ARCI’s share price increased 4.7% to R9.14 on the JSE Tuesday morning. ARCI has offered its shareholders R9.75 a share cash, which is a 12.6% premium to the closing price of R8.66 on March 14, and a premium of 21% to the R8.06 per share 30-day average price. ARCI’s board said they wish to delist because there is limited liquidity in the shares, and the share price does not reflect the “true value” of the investments in the ARC Fund, so investors in ARCI are not receiving the true value of their investment. The…

David Masondo, South Africa’s Deputy Minister of Finance, on Tuesday warned of Africa’s spiralling debt crisis, urging the development of “tangible, actionable solutions” to shift the continent from distress to “long-term financial resilience and sustainable growth”. Speaking at the Group of Twenty (G20) International Financial Architecture Working Group Debt Side Event in Pretoria, he told African representatives, international financial institutions, and private lenders that rising debt-to-Gross Domestic Product (GDP) ratios, a pivot to private creditors, and structural weaknesses demand faster debt resolution. Africa’s debt has ballooned, especially in Sub-Saharan Africa (SSA), where World Bank data shows nominal public debt tripled since 2010 to $1.1 trillion (R20 trillion) by 2022. The median debt-to-GDP ratio in SSA jumped from 32% in 2010 to 57% in 2022, fuelled by weak debt management, poor…

Sean Summers, the CEO of Pick n Pay, is swiftly advancing the retailer's turnaround strategy, as he unveiled enhanced benefits for customers through an expanded partnership with FNB's eBucks programme. Pick n Pay’s partnership with eBucks, launched only three months ago, is set to roll out even greater benefits. As of April 1, this expansion will significantly increase the number of eligible FNB customers who benefit from the partnership from 1.4 million currently spending at Pick n Pay to the full FNB base of 6.4 million active eBucks members. "The partnership will now extend to FNB’s Personal Segment, which spent R57 billion on groceries last year. From April 1, Premier FNB cardholders will now also earn up to 30% back in eBucks on Pick n Pay’s asap! service and up…

In recent years, air fryers have surged in popularity, transforming the cooking habits of countless households around the world. These innovative kitchen appliances offer a tantalising blend of convenience and health, enabling home cooks to whip up tantalisingly crispy dishes without the traditional deep-frying method that can be laden with unhealthy oils. As we seek to embrace healthier eating habits without sacrificing flavour, air fryers are leading the charge. At the heart of the air fryer’s allure is the technology that powers it. Utilising rapid air circulation, these devices cook food with hot air, resulting in a texture and crispiness that closely mimics deep-frying. Recipes that once called for submerging food in oil can now be created with just a fraction of that fat – and often, the outcomes are…

Nearly a year after the tragic George building collapse, Minister of Human Settlements Thembi Simelane has found that the preliminary report suggests that several procedures were not followed and there was a breach of the Housing Consumers Protection Measures Act. Simelane said she has undertaken to implement all recommendations in the final report of the National Home Builders Registration Council (NHBRC) into the building that collapsed in May 2024. “The preliminary report suggests that several procedures were not followed, a breach of the Housing Consumers Protection Act Measures Act, 1998 and the recently signed Consumer Protection Act 25 of 2004,” said Simelane’s office. The minister said the council is a regulatory body established to protect the interests of consumers and to regulate the home-building industry. Its primary functions include ensuring…

THE Municipal Demarcation Board (MDB) has urged residents and stakeholders in metropolitan and local municipalities to participate in the ward delimitation process to redetermine wards ahead of next year’s local government elections. The proposals submitted to the board could see additions to the country’s 257 municipalities. Among the proposals is the amalgamation of the Msunduzi Municipality, Richmond Municipality and the uMgungundlovu District Municipality in the KwaZulu-Natal Midlands to establish a new category A metropolitan municipality in the uMgungundlovu district. The proposal was among many that were made in 2023 when the MDB had sought the views of the public. If approved, KZN would have two metros – eThekwini Municipality and uMgungundlovu. According to the MDB, amalgamation entails large-scale municipal boundary redetermination which will have a significant impact on the geographic…

For Sharks forward coach Philip Lemmer, an advancing scrum is a “thing of beauty” because it requires eight players to work in perfect unison. Even better for Lemmer is seeing a backline player accelerating through a gap and scoring a try thanks to the space created by front-foot ball from the forwards. As he says, “The forwards are like parents that must provide food for their children.” But Lemmer, a former prop and professional wrestler, knows the other side of the coin and says it was painful to experience a heavy defeat a few weeks ago at Ellis Park, his home ground before he joined the Sharks. He is speaking of the Lions’ big win in the first leg of a home-and-away mini-series with the Sharks in the United Rugby…

Barely two years ago, Tristan Luus was dealing with the heartbreak of missing out on a place in the South Africa U19 squad set to participate in the ICC U19 World Cup on home soil. It was a bitter pill to swallow after the Waterkloof learner had dominated the Cricket SA Cubs Week for Northerns where he topped the bowling charts by claiming two five-fors in Stellenbosch. But as fate would have it, Luus was eventually called up as injury replacement and went on to star alongside Kwena Maphaka with the new ball as the Junior Proteas rode the wave of passionate home support all the way to the semi-finals. Luus’ performances did not go unnoticed this time and he was rewarded with his first professional contract at the Dolphins…

Welsh rugby could not be in darker times as the national team sits on 17 consecutive defeats but a ray of sunshine is the performance of Cardiff in the United Rugby Championship (URC). The team from the Welsh capital is sixth on the URC standings and this weekend hosts the Lions. One of the stars of the Cardiff revival is wing Harri Millard and his story is a microcosm of what is going in the Principality. Back in 2023, Millard was left wondering whether his career was coming to an end when he was released by Cardiff amid the contractual uncertainty in Wales. For some four months, he was without a job and considering what to do for a living. But then Cardiff came in with a new offer and…

Credit ratings agencies have warned that South Africa’s national government debt will stabilize higher in relation to gross domestic product (GDP) than anticipated by the National Treasury during the 2025 Budget tabled last week. This comes as the gross government debt is projected to reach R5.69 trillion or 76.1% of gross domestic product (GDP) this year. Finance Minister Enoch Godongwana last week forecast that the debt ratio will peak in the coming fiscal year, before gradually declining from fiscal 2026-27 given primary surpluses. Godongwana said the government projected that gross debt-to-GDP will stabilise at 76.2% of GDP in the 2025 fiscal year, compared with 76.1% in 2024, before declining gradually thereafter. The budget forecasts the fiscal deficit will fall to 3.5% of GDP by fiscal 2027/28, a slight worsening compared…

The current outbreak of the Asian Influenza virus in poultry may mutate to humans as has been the case in the US with 70 cases reported and one fatality. This was a warning from a microbiologist on Tuesday as the South African government is accused of dithering on a comprehensive poultry vaccination and bio-security drive rather than culling, which was unstainable without compensation. Industry experts said on Tuesday the poultry industry has suffered losses estimated at R1.8 billion due to the culling and associated disruptions. Major poultry producers like Astral Foods have reported significant financial losses, with operating losses reaching R621 million. The outbreak has also hiked prices of eggs, which surged by 19% between September and October 2023 alone, reflecting supply shortages caused by the Avian Influenza outbreaks. At…

As global air travel surges, the aviation sector finds itself at a pivotal crossroads. Aviation currently contributes roughly 3% of global carbon dioxide (CO2) emissions, underscoring the urgency to address climate change. Stakeholders across the aviation value chain are racing to reduce carbon footprints, yet a truly comprehensive decarbonisation strategy must extend beyond the airport’s perimeter for meaningful societal change. Currently, global CO2 emissions exceed 37 billion metric tonnes annually, with South Africa ranked 11th in per capita emissions at 5.65 tonnes per person. This is primarily driven by the country’s reliance on coal for energy, which powers approximately 85% of our generation and transportation. The Paris Agreement’s 2030 targets call for reducing the global average CO2 footprint to 2.3 tonnes per person, making South Africa’s energy transition a critical…

Old Mutual is looking forward to another year of strong growth after reporting a solid 14% increase in adjusted headline earnings in 2024, which supported a 6% higher final dividend. Adjusted headline earnings per share increased by 17%. Operating profits increased by 4% to R8.7 billion. Funds under management grew 10% to R1.5 trillion. CEO Iain Williamson said in an interview that the group has maintained a strong growth trajectory since 2020, continuing into 2024. "Since our primary listing on the JSE in 2018, we have returned R89bn to shareholders. We have also made substantial investments in building future capabilities and funding growth businesses, including the launch of OM Bank," he said. The Reserve Bank’s Prudential Authority has confirmed that OM Bank had fulfilled its license conditions and the bank…

Every parent knows the feeling: the desperation that comes with a fussy baby. Those intense cries can turn a peaceful afternoon into a stressful ordeal, leaving parents feeling helpless and exhausted. However, understanding the science behind a baby’s fussiness and employing evidence-based strategies can help soothe both the child and the worried parent, bringing peace back to the home. Why do babies get fussy? Fussiness in infants can stem from various reasons, including hunger, discomfort, tiredness, or a need for attention. According to recent pediatric research, it's normal for newborns to cry around two hours a day, reaching a peak of fussiness at approximately six weeks of age before tapering off. Sr Londe, a midwife from Vital Baby, emphasises that while soothing a fussy baby can be challenging, understanding the…

THE United States Congress has introduced a bill calling for a comprehensive review of the bilateral relationship it has with South Africa. In the last few months, the US has withdrawn all funding for HIV/Aids treatment from South Africa and last week expelled Ambassador Ebrahim Rasool for critical comments made about its government. President Cyril Ramaphosa confirmed on Monday that the US is engaging South Africa through official diplomatic channels following concerns that the Trump administration has been raising grievances informally. The latest move by the US Congress comes amid growing concerns over the ANC-led government’s foreign policy actions, which are seen by the US as acting against its interests. The bill, titled the “U.S.-South Africa Bilateral Relations Review Act” has been referred to the foreign affairs committee. The legislation…

President Cyril Ramaphosa has revealed that a R10 billion budget allocation has been made for Early Childhood Development (ECD) initiatives. Last week, during his Budget speech, Minister of Finance Enoch Godongwana allocated R10bn to ECD and an additional R19.1bn to ensure teachers remain in classrooms. Ramaphosa, speaking on Monday at the Bana Pele 2030 Roadmap Leadership Summit held in Johannesburg, admitted that the government had erred when it failed to take ECD seriously. He said the government should have put the children first. “Starting early as a nation and as parents for early learning is our ultimate focus and most powerful lever we have and investing in ECD is not only about learning but about shaping the future of children who will help drive our future forward. We know this…

The Cape Town International Jazz Festival (CTIJF) continues to elevate its already stellar line-up with two powerhouse international acts – Incognito and Masego – joining the bill, along with Cape Town’s own rising star, Muneeb Hermans. Bringing their signature blend of jazz, funk and soul, British acid jazz pioneers Incognito are set to ignite the stage with their dynamic and timeless sound. Since their inception in 1979, the band has defined the acid jazz movement, delivering global hits like Still a Friend of Mine and their legendary rendition of Stevie Wonder’s Don't You Worry 'Bout a Thing. They blend intricate musical arrangements with infectious grooves that transcend generations. Having wowed South African audiences before, their return is set to be a major highlight of the festival. Joining them is Masego,…

Exposure to gruesome road accident scenes and being in a highly stressed environment were some of the experiences that have impacted the mental health of Durban metro police officers. This is according to the findings of a recent pilot study. In a report presented by the security and emergency services committee yesterday, the eThekwini Municipality found that comprehensive specialised mental health interventions for law enforcement need to be implemented, particularly for traffic officers exposed to high-stress environments and traumatic events. The Metro Police Mental Health Assessment Programme pilot study evaluated 260 metro police officers of different ranks and genders. The findings revealed a dire situation within the metro police unit, with a high prevalence of moderate to severe depression, substance abuse, anxiety, gender-based violence and femicide, as well as post-traumatic…

The importance of soccer matches is often overestimated. Clashes between teams — be it at club or national team level — are invariably described as ‘do-or-die’ or ‘must-win’ affairs until it all becomes slightly tiresome. Yet, when there is a place at football’s ultimate stage — the Fifa World Cup — at stake, every match takes on that stature. Even for countries ranked lowly and usually adding to the numbers, the World Cup dream ensures they approach matches with the seriousness of a heart attack. It is for that reason that Hugo Broos is taking nothing for granted as he prepares for the next round of qualifiers for the global showpiece, scheduled for the Americas — US, Canada, and Mexico —in 2026. South Africa’s senior national team coach is leaving…

Nizaam Carr has been one of the stand-out performers for the Bulls in recent months, but he accepts that he might not feature as much now that Cameron Hanekom is set to return from injury. But the 33-year-old No 8 – who has five Springbok Test caps to his name – knows that he can still add real value in the closing stages of a tight game. Saturday’s massive United Rugby Championship clash against Irish giants Leinster at Loftus Versfeld (5pm kick-off) is sure to be another hard-fought encounter, and Carr’s experience and leadership may be needed to guide the Bulls home. Young Bok upstart Hanekom was scheduled to return to training this week from knee and calf issues, and while the Bulls have yet to officially announce his availability…