Table of contents for 2025-03-14 in Mercury

The announcement of a staggered increase in value-added tax (VAT) by Finance Minister Enoch Gondongwana during his Budget speech on Wednesday has sent ripples of concern across South Africa's business sector and the civil society. With VAT set to rise by 0.5% in both the 2025/2026 and the 2026/2027 financial years, culminating in a total increase to 16%, stakeholders are increasingly vocal about the implications of this fiscal decision for both businesses and the general populace. To soften the blow of these increases, Gondongwana proposed expanding the basket of VAT zero-rated food items, set to include canned vegetables, dairy liquid blends, and organ meats from sheep, poultry, and other animals. However, many experts and advocates have argued that this may not be sufficient to alleviate the looming pressures on household…

South Africa’s productive sectors began the year on a slippery slope as both mining and manufacturing output plunged in January on the back of persistent economic constraints. Data from Statistics South Africa (Stats SA) on Thursday showed that mining production shrank by 2.7% year-on-year in January following a 2.4% decline in December 2024. This extends a three-month downward trend and marks the steepest decline since June 2024. Stats SA’s principal service statistician, Jean-Pierre Terblanche, said iron ore was the largest negative contributor, retreating by 15.1% while coal, platinum group metals (PGM) and chromium ore also performed poorly. Combined, these commodities make up over 65% of the mining basket. “On the upside, gold turned positive after 14 consecutive months of decline. Manganese ore, copper, nickel and diamond production also expanded in…

South Africa has a housing supply backlog of at least 2.2 million units, with a significant shortage in the affordable housing or “gap market”, according to a recent study by the Centre for Affordable Housing Finance (CAHF). The gap housing market is generally considered to be households earning too much to qualify for Reconstruction and Development Programme (RDP) housing but too little to obtain traditional bank-financed homes in the open market. 40% of consumers fall into the RDP housing category (household incomes below R3 500 per month), and the wealthiest 30% of households are well-served by the open housing market. Massive demand The gap market is the middle 30% of consumers where the supply of housing stock is extremely low and even declining despite massive demand. A market design…

Tongaat Hulett on Thursday said it was primed for the 2025/26 sugar season, with operations set to commence smoothly in April and early May, following an extensive off-season maintenance programme. The sugar producer said a significant investment of R460 million has gone into improvements at its Maidstone, Amatikulu, and Felixton mills, its central refinery in Durban, and the Voermol animal feed facility. It said this financial commitment was a testament to its dedication to operational excellence, ensuring that they can welcome sugarcane deliveries from growers as the season begins. As the sugar industry faces challenges such as declining global prices, job losses induced by the sugar tax, and insufficient import tariffs that allow for increased sugar imports, Tongaat Hulett said it remained resolute in maintaining a seamless and efficient milling…

Standard Bank Group wants to lead energy and infrastructure development in Africa by helping mobilise for clients some of the estimated R3.4 trillion that will be required to be spent on roads, bridges, energy and other projects across the continent over the next two decades, CEO Sim Tshabalala said. Tshabalala, interviewed at the release of financial results for the year to December 31, said the group had facilitated R74 billion in sustainable finance transactions on the continent and in South Africa in 2024, and R177bn cumulatively since 2022. Africa's largest bank by assets operates in 20 African countries with plans to open an office in Egypt and expand in East and West Africa. Tshabalala said Africa has 600 million people without access to an electricity grid, which needs to be…

The lawyer representing Kelly Smith, mother of missing child Joshlin Smith, has accused State witnesses of trying to get into the limelight and increase their popularity on social media through their testimony in court. A witness testified this week that Kelly Smith had allegedly planned to send her children away and another alleged that Kelly had told her Joshlin had been shipped away in a container to West Africa. Smith’s lawyer Rinesh Sivnarain said evangelist Nico Steven Coetzee and popular TikToker Shakeerah ‘Shakes Warrior’ Ganief both wanted to gain popularity. The State witnesses resumed with their testimonies yesterday in the Western Cape High Court sitting in Saldanha Bay. Joshlin went missing from her Middelpos home on February 19 while in the care of Jacquen ‘Boeta’ Appollis. Kelly, Appollis and Steveno…

And, just like that, my first race in the Toyota Gazoo Racing GR Cup Media Challenge is over. Not just the first race in the GR Cup, but also my first real race and my first time on Killarney international raceway in Cape Town. Arriving in Cape Town on Thursday night there was an air of expectation and a lot of nervous banter among my fellow racers and media colleagues. There are six of us vying for honours and making our debut, myself, (Independent Media/IOL), Charl Bosch (Citizen), Lawrence Minnie (Auto Trader), Phuti Mpyane (TimesLive), Kyle Kock (CAR Magazine) and Nabil Abdool (SuperSport). It was a struggle to get a good night’s sleep as I nervously played out various scenarios through my head, watched YouTube videos of the track again…

AMAZULU FC do not have to think that deeply about their approach to the Betway Premiership match against TS Galaxy who are visiting them at Umlazi’s King Goodwill Zwelithini Stadium tonight at 7.30pm ahead of the international Fifa break. It’s all so very simple; they are playing a team two places above them with two points ahead of them. So, beat Galaxy at home and go into the two-week break with a bag full of positives and that approach was confirmed by AmaZulu’s right-wing back Nkosikhona Radebe. “This game is very important for us because we are playing a team that is above us and if we beat them, we will overtake them. “That (beating them) will mean better chances for us (in the top four race) because our…

Max Verstappen said yesterday that Red Bull was “not the quickest at the moment” ahead of the season-opening Australian Grand Prix but warned that could change. The Dutchman claimed his fourth straight world title in Las Vegas in November with two races to spare. The 27-year-old is now bidding to join an exclusive club, with only Michael Schumacher having won five championships in a row. While Verstappen secured the 2024 title by 63 points ahead of Lando Norris, he had to overcome a mid-season run of 10 races without a win as the McLaren star pushed him hard. McLaren and their drivers, Norris and Oscar Piastri, are seen as an even bigger threat this year, with Verstappen failing to set the fastest time on any of the winter test days…

In addition to mobilising investment, this partnership will be a forum for regulatory co-operation between the EU and SA The South African government has welcomed the €4.7 billion (R93.5bn) package announced by the European Union (EU) to support strategic investment projects in the country. During the SA-EU Summit in Cape Town on Thursday, leaders of the EU announced the multi-billion euro as part of the Global Gateway Investment Package. “We are presenting a new €4.7bn Global Gateway investment package for South Africa for projects that support a just energy transition, for connectivity – both physical and digital, and for vaccines, produced in Africa, for Africa,” said Ursula von der Leyen, President of the European Commission. “Today we’re taking our trade and investment relations forward. We’re launching talks on a next-generation…

The Agricultural Business Chamber of South Africa (Agbiz) has expressed serious concerns regarding the nation's potential removal from the African Growth and Opportunity Act (Agoa). The apprehension follows US President Donald Trump’s decision last month to end USAID to South Africa, igniting fears of an impending economic setback. Wandile Sihlobo, chief economist of the Agbiz, on Thursday said the possibility of South Africa being expelled from Agoa would have a negative impact. “Tariffs could average around 3% on exports to the United States, which would significantly hurt South Africa’s access to the American market, ultimately weakening its competitiveness,” he said. Sihlobo added that there is growing international pressure and uncertainty surrounding the country’s trade relationship with the US. “I remain hopeful that South Africa will still be part…

The statutory earnings threshold (Threshold) will increase to ZAR 261 748.45, representing a ZAR 7 376.78 increase from the current Threshold. The Threshold, a determination in terms of section 6(3) of the Basic Conditions of Employment Act (BCEA), affects the applicability of certain provisions of the BCEA, Labour Relations Act (LRA), and Employment Equity Act (EEA). Employees earning above the Threshold are not entitled to certain protections afforded to those earning below it. The purpose of the Threshold is to ensure greater protection for more vulnerable employees earning below a specified income. Sections of the BCEA regulating ordinary hours of work, overtime, meal intervals, daily and weekly rest periods, Sunday pay, night work pay, and public holiday pay apply only to employees earning below the Threshold. Employees earning above the…

Hyprop Investments will focus on organic growth at its specialist retail centres in South Africa as well as actively seek new opportunities in Eastern Europe during the second half of its 2025 financial year, CEO Morné Wilken said Thursday. The JSE’s REITs South African portfolio comprises centres such as Canal Walk, Somerset Mall, Hyde Park Corner and Rosebank Mall. In Croatia, it owns City Center One Zagreb East and City Center One Zagreb West; it owns Skopje City Mall in North Macedonia and The Mall in Sofia, Bulgaria. Wilken, speaking in an online presentation at the release of financial results for the 6 months to December 31, said they were set for good growth in the second half and they also intended to recycle one of its South African assets,…

With the eThekwini Municipality losing billions of rand on water losses, it has now begun replacing old Asbestos Cement (AC) pipelines with new pipes made from Modified Polyvinyl Chloride (mPVC). The eThekwini Water and Sanitation (EWS) Unit stated that this was part of ongoing interventions to address water disruptions and prevent water loss. The project is taking place in various areas across the city with the goal of preventing burst pipes that cause water outages. Yesterday the unit laid 12½km of new pipelines on Cardinal Road in Phoenix. Recently, the municipality presented a draft water turnaround strategy (TAS) report for the EWS. Within five years, the EWS intends to invest R25 billion in Public-Private Partnership (PPP) initiatives. The two new regional wastewater treatment facilities, which will cost R2.1 billion to…

Co-operative Governance and Traditional Affairs (Cogta) MEC Reverend Thulasizwe Buthelezi has instituted forensic investigations to probe allegations of wrongdoing in three municipalities. In a media briefing yesterday, the MEC announced that he has authorised Section 106 forensic investigations into the Msunduzi, KwaDukuza and Nongoma Municipalities. Buthelezi said his action is mandated by Section 106 of the Municipal Systems Act, which stipulates that the MEC was obliged to conduct an investigation upon receipt of allegations pertaining to maladministration, fraud, and corruption within a municipality. The move follows the damning report by the Auditor-General Tsakani Maluleke who found that the finances of many municipalities in the province were in disarray. The Auditor-General’s latest report has revealed R6 billion in unauthorised, irregular, fruitless and wasteful expenditure across the province’s municipalities. Buthelezi said the…

South Africa is car crazy, with many enthusiasts treating their vehicles as a blank canvas for modifications. From subtle accessory tweaks to downright ludicrous alterations, the passion for personalisation runs deep. We’re ranked ratio-wise as the top country globally for the uptake of performance cars such as BMW M, Mercedes-Benz AMG, Audi RS and Golf GTI. If you’ve ever attended a car meet where like-minded enthusiasts gather you’ll have an idea of what owners do to make their cars look better, go faster, sit lower, make more noise, handle better and generally make them one of a kind. Growing Industry According to the American International Trade Administration the last decade has seen a rapid growth in automotive aftermarket specialty equipment and accessories. “Accessorising and improving performance of vehicles…

There is something satisfyingly retro about Nottingham Forest's pursuit of Uefa Champions League qualification and not just because they are trying to re-create the glory days of the late 1970s. In an age when possession and high pressing have become mantras for many Premier League managers, Forest coach Nuno Espirito Santo is bucking the trend in spectacular fashion. While some sides are easier on the eye, efficiency is Espirito Santo's watchword. In their 28 league games, Forest average 39.4% possession – the lowest of the 20 clubs. They have made 9 355 passes, the lowest total in the top flight. But they have scored 45 goals, conceded just 33 and have 51 points and with 68.6 the average amount of points required to finish fourth in the last five Premier…

The Springboks concluded their first national alignment camp in Cape Town this past week and head coach Rassie Erasmus was happy with the first steps they've taken in a challenging 2025. While he and his fellow coaches were able to share their plans with the 56 players attending, Erasmus hopes it has laid the foundation for the international season where the Boks will play around 15 Tests and a friendly match against the Barbarians. Independent Newspapers looks at five players who must use this information from the camp in the United Rugby Championship (URC) to stake a claim for a place in the mid-year Tests. Henco van Wyk Yet to make his Bok debut, Van Wyk will be keen to keep marching on with his brilliant performances for the Lions,…

It has long been said that the PSL is a ticking time bomb, and this is partly reflected in the clubs that have, scandalously, recently made it onto the Fifa transfer ban list over the past few months. The clubs – Richards Bay and Marumo Gallants, along with embattled Royal AM – are on the list after having been punished because, in most cases, they have not respected players’ contracts. Over the years, several clubs have acted with abandon, showing no regard for sound governance. This lack of sound governance is also evident in the way the mother body has conducted their affairs most recently. The Royal AM mess has come about because of the PSL’s failure in that department. Had the PSL adhered to their handbook, they would have…

This year is a big one for women’s cricket, given that the much anticipated Women’s Cricket World Cup is taking place in India in October. In preparation for the ICC event, South Africa’s senior women national team are set to tour Sri Lanka for a Tri-Series against the hosts and their India counterparts. The tour will play a massive role in the Proteas reminding themselves of their gameplan on the subcontinent, having played the 2024 T20 World Cup in similar conditions. They have also toured India and Pakistan over the past few years. Proteas Women spinner Nonkululeko Mlaba, as one of the best white ball spinners in the world, will have a big role to play on a spin-friendly wicket at the R Premadasa International Cricket Stadium in Colombo, where…

The South African government has once again turned to taxation as a means of addressing its fiscal challenges, announcing an increase in the value-added tax (VAT) rate by half a percentage point in 2025/26 and another half a percentage point in 2026/27, bringing the final rate to 16%. This decision, though justified as necessary to fund critical social services, is yet another indication that the economy is caught in a self-perpetuating cycle of stagnation, increasing public debt, and over-reliance on a shrinking tax base. The key question we must ask is whether this increase is asustainable solution or merely a stopgap measure that exacerbates deeper economic challenges. A shrinking tax base and limited options The government has defended its decision to raise VAT by arguing that alternative revenue-raising measures, such…

Daybreak Farms is a going concern, the black-owned poultry producer, said on Thursday after media scrutiny in the wake of the resignation of its CEO, Richard Manzini, tasked with turning around the troubled firm. "Regarding recent media reports, we can confirm that Daybreak is not being liquidated. We value our relationships with all stakeholders, including Shoprite, and appreciate their ongoing support," it said in a statement sent to Business Report. This comes after Business Report earlier this week reported Financial troubles at Daybreak Farms: PIC's silence during management crisis. Media speculation is rife that its main shareholder, the Public Investment Corporation (PIC), allegedly rejected a request for an additional R250 million loan to aid the financially stressed company, leading to Manzini's abrupt exit. However, Daybreak said that Manzini had resigned…

Tempting online adverts offering unrealistic investment returns have flooded social media in recent years. Many of these schemes operate without oversight, exploiting gaps in regulation to appeal to those desperate for rapid financial gain. Compounding this risk is the role of unqualified brand ambassadors and “finfluencers”, who promote these financial products as personal recommendations without any skin in the game. The issue is that social media influencers are typically compensated for their endorsements, but their followers often mistake these promotions for genuine, first-hand financial advice. This creates a dangerous dynamic, blurring the line between unbiased guidance and deceptive marketing. Even if an influencer shares recommendations based on their personal circumstances, advice and recommendations around financial decisions and products might not apply to you as no two people have the…

Exxaro Resources, which appointed Ben Magara as new CEO effective next month, said on Thursday that improvements on the rail and port logistics front have been slow, with the company’s financial performance for year to the end of December 2024 affected by lower domestic offtake of coal despite growth in exports. Magara, who was the CEO of platinum mining company, Lonmin Plc, when the Marikana Massacre happened on August 16, 2012, will become substantive CEO of Exxaro at the beginning of April. He will be taking over from acting CEO Riaan Koppeschaa who now reverts to being finance director. This follows the departure of Nombasa Tsengwa last month after a bitter fall-out with the company. In its year to December, Koppeschaa said the company’s “financial performance had been impacted by…

THE Budget battle is far from over as the ANC prepares to pass its proposed Budget in Parliament despite facing fierce opposition from all parties, including its coalition partner, the DA. Finance Minister Enoch Godongwana tabled the Budget in the National Assembly in Cape Town on Wednesday, where his revised Budget included a 0.5% increase in VAT, which has been met with widespread criticism from all parties. ANC secretary-general Fikile Mbalula said yesterday that the party was still in talks with the DA, but its door would be open to other parties willing to engage. The ANC’s efforts to garner support for its Budget have been met with resistance from all sides. Mbalula has accused the DA of being “anti-transformation” and blocking progressive policies. “The DA wants labour laws to…

IN a significant step towards honouring the legacy of Indian indentured labourers, KwaZulu-Natal is set to unveil a monument that encapsulates their sacrifices and contributions. Contractor and artist Brendon Edwards said most of the steel structure has been done and site access has been granted. He said the 8m-high monument will include the 684 names of Indian indentured labourers who arrived on the first ships from India, SS Truro and SS Belvedere. The sugar cane arch will be comprised of 684 strands, representing the DNA of those who made the trip. There will be a pond to symbolise their ocean voyage. A representation of a Zulu kraal embraces the central design, signifying a welcome to the indentured. KZN Premier Thamsanqa Ntuli said the project, now budgeted at R5 million, is…

More than 60 representatives from the Democratic Republic of Congo (DRC) visited South Africa’s administrative capital of Tshwane and Durban this week as part of the Africa Trade and Investment Council’s (ATIC) major new initiative, the Trans-Congo RSA Industrialisation Corridor. This visit, which was expected to wrap up yesterday, seeks to transform the economic relations between South Africa and the DRC. The investment director of the council, Zwelethu Dlamini, indicated that this large-scale project intends to stimulate and drive significant growth in trade and investment between the two countries. Launched by ATIC Holdings and Africa Union Development Holdings, this corridor will stretch across 3 100km of the DRC and aims to develop 12 special economic zones, along with new cities and vital port infrastructure. Dlamini also revealed that this will…

Just over a year after landing on local shores as a somewhat interesting and rugged-looking alternative to the Toyota Fortuner, the GWM Tank 300 is finally available with the diesel engine that most buyers in this segment demand. Priced from R699,900 in Super Luxury 4WD guise and R739,900 as an Ultra Luxury 4WD, it undercuts the equivalent 2.0-litre turbopetrol models by R26,000 and R36,000 respectively. The new 2.4-litre turbodiesel offers up 135kW and 480Nm, while paired with a nine-speed automatic gearbox. GWM claims a combined fuel consumption figure of 7.7 litres per 100km. For what it's worth, the turbopetrol engine produces 162kW and 380Nm, and drinks a claimed 9.5 l/100km. The diesel comes with the same off-roading credentials as its petrol sibling, including a Torque On Demand four-wheel drive system…

The facelifted Audi A3 Sportback and Sedan models, as well as their fire-breathing RS 3 counterparts, are heading our way soon with a fresh look and enhanced equipment. With the order books now open for South Africa, it is evident that the A3 has taken a step upmarket, with pricing starting at R808,200 for the 1.4 TFSI S Line Sportback and R823,200 for the Sedan equivalent. Audi is also offering a pair of Black Edition models, priced at R834,500 and R849,500 respectively. This raises the entry price of the range significantly, given that the standard spec level, which now falls away, previously started at R682,100, but even the S Line has risen significantly from its previous R722,100 starting price. The facelifted Audi RS 3 now starts at R1,498,200 for the…

In a night that celebrated excellence in South African rugby, speedster Cheslin Kolbe etched his name into the history books by becoming the first backline player to win the prestigious SA Rugby Men’s Player of the Year title since 2013. The dazzling awards ceremony took place at the International Convention Centre in Cape Town yesterday evening, where Kolbe's remarkable contributions to the sport in the 2024 season were duly recognized. Kolbe’s phenomenal performance throughout the year helped the Springboks secure 11 victories out of 13 Tests, culminating in reclaiming the Rugby Championship and Freedom Cup titles. His electrifying pace and unparalleled skill on the field have solidified his status as one of the preeminent talents in world rugby. While mainly a try-scoring winger, Kolbe popped up as a lineout thrower…

France heads into Saturday’s final round of the Six Nations with the luxury of knowing that the destiny of the title is in their own hands. Les Bleus’ dominant 42-27 defeat of double-defending champions Ireland in Dublin last weekend took them to the top of the table, a point clear of second-placed England. And with France’s game at home to Scotland being the third and last of the tournament’s concluding “Super Saturday,” Fabien Galthie’s men will know exactly what they need to do. Regardless of other results, a bonus-point win over Scotland would guarantee France its first Six Nations title in three years. It would take them to 21 points, with 20 points being the most England can manage if they beat Wales heavily in Cardiff. The French also have…