Star 2026-02-17

United Nations Secretary-General António Guterres delivered a forceful call for sweeping economic reforms and urgent climate justice at the opening of the 39th African Union Summit over the weekend, warning that the global financial system remains “totally unjust” to developing nations and particularly to Africa. Addressing heads of state and government, Guterres said developing countries are facing a staggering $4 trillion annual financing gap to meet the Sustainable Development Goals (SDGs). At the same time, he noted, African countries are losing more money to debt servicing and illicit financial flows each year than they receive in foreign aid. “It is simply unconscionable that Africa must contend with an economic and financial system that remains totally unjust,” Guterres said at a press briefing following his address. Central to his economic message…

The Gauteng Liquor Traders Association (GLTA) has rejected proposed increases in liquor licensing fees by the Gauteng Liquor Board, warning that the move would disproportionately hurt township-based micro and small businesses already battling what it describes as a “broken and unworkable” regulatory system. The association, which represents thousands of liquor traders across Gauteng, on Monday said the proposed fee hikes are both unaffordable and unjustifiable given ongoing structural challenges within the licensing regime. “These increases are being pushed onto traders operating in an environment where the system itself is failing them,” said GLTA spokesperson Jongikhaya Kraai. “You cannot raise fees on small businesses when you haven’t even fixed the basics, from a backlog of almost two years in licence approvals to red tape that makes it nearly impossible to comply.”…

Zambia announcing a temporary import ban on South African livestock due to the Foot and Mouth disease (FMD) outbreak has received mixed responses from the agriculture industry and the Department of Agriculture. This follows President Cyril Ramaphosa declaring FMD a national disaster last week in his State of the Nation Address. Moses Rannditsheni, Director: Media and External Communication at the Department of Agriculture, said that Zambia imports an insignificant volume of agricultural products. “Although every agricultural product exported out of SA grows the SA agricultural economy, suspension by Zambia would not really make any significant impact. We understood why Zambia arrived at its decision and hope they will review this suspension as soon as we start with the mass vaccination,” he said. Wandile Sihlobo, the chief economist at the…

Minister is faced with funding an ambitious slate of commitments made by President Ramaphosa Finance Minister Enoch Godongwana faces one of the most delicate balancing acts of his tenure when he tables the National Budget Review next week Wednesday, tasked with funding an ambitious slate of commitments announced by President Cyril Ramaphosa while safeguarding a fiscus that remains structurally constrained. In his State of the Nation Address last week, Ramaphosa pledged a sweeping package of interventions aimed at improving service delivery and restoring confidence in a crucial year for local government. These include deploying 10,000 additional labour inspectors to curb business non-compliance, allocating R2.5 billion to support small and medium-sized enterprises (SMEs), mobilising more than R1 trillion in infrastructure investment over three years, addressing collapsing municipal water systems, strengthening intelligence…

How does an organisation with established reporting systems, external audits and formally constituted governance structures unravel to this extent? The provisional liquidation of Tongaat Hulett (Tongaat) provides a stark answer. For decades, it operated as a significant player in agriculture and property sectors, embedded in regional economies and listed on the JSE. Its decline has been gradual, complex and at times, contested. Yet, the liquidation process forces a question that lingers long after the headlines fade: what were the boards seeing and what were they missing? Tongaat did not collapse in a vacuum. Like many entities that encountered a similar fate, financial statements were published, board meetings convened and assurance processes executed. Reports were structured and professionally presented. Risk frameworks were documented. Audit opinions were issued. From the outside, there…

As the dust settles from Thursday night’s State of the Nation Address (Sona), attention must turn to the rapid implementation of what President Cyril Ramaphosa announced and to addressing what was left unsaid. There was much to welcome, as BLSA noted in our release after the speech. Most important was the clarity the president brought to the future of our electricity transmission system. The independent Transmission System Operator will own and operate transmission assets and run the electricity market. This resolves the policy confusion that emerged in mid-December when the Minister of Electricity and Energy published an unbundling strategy proposing that transmission assets remain with Eskom rather than transfer to the TSO. The dedicated task team that the President will establish under Necom provides the right mechanism to manage the…