Table of contents for 2025-04-10 in Mercury

International markets are in turmoil as US President Donald Trump’s tariffs – which have been revised upwards for many countries – came into effect at midnight with a negative spillover effect anticipated for South Africa as the rand flirts with historic lows. Old Mutual Group chief economist, Johann Els, has also downgraded his South African growth forecast marginally, down from 2.2% to 1.7% in response to expected softness in US-linked exports but does not foresee a local recession. The South African Reserve Bank’s most recent estimate was 1.9% for 2025. “China and the Euro Area, South Africa’s primary trading partners, are expected to adopt accommodative policy stances, which should help offset lost momentum,” said Els. Yet, as Donald MacKay, founder and CE of XA Global Trade Advisors, told IOL from…

South Africa's financial services led the JSE lower on Wednesday as the local bourse tracked large declines in stock markets all over the world, with investors fearing a global recession arising from the brewing US and China trade war. The global meltdown on stock exchanges due to the imposition of import tariffs by US President Donald Trump on the US's trade partners and counter duties by China saw the JSE All Share Index lower by 2.07% to 82 486 points just after 5pm, and 8.05% down over the last four weeks. Similarly the London Stock Exchange's FTSE 100 Index had fallen 3.25%, the Euro Stoxx 50 Index of leading blue-chip companies in Europe had fallen 3.48%, while the Nikkei had ended 3.9% lower in Japan. On the JSE, the declines…

Since market deregulations in 1996, South Africa’s agricultural growth strategy is premised on continuous access to export markets in Europe and America, while also expanding export footprint to special markets in Asia and the Middle East. The government and the private sector in South Africa have been very successful in forging new trade relations and promoting the country’s image as a trusted and capable exporter of quality agricultural products. In terms of products composition, the country has a competitive edge in fruits like citrus, table grapes, avocados, apples and pears. The country also has a competitive advantage in sugar, wool, mohair, maize, nuts and wine products. The country does have the capability to export meat, however, biosecurity issues coupled with inferior genetics amongst black farmers, who are estimated to own…

Five years on from the beginning of lockdown and the world of work is not what it used to be. Apart from the rise of remote working, the pandemic years brought about a rate of technological advancement in a few years that is equivalent to the previous 50. While many in-person businesses closed, the gig economy exploded with 2.1 million workers going into freelancing in 2020 alone. In South Africa, while this migration was motivated by unavoidable retrenchments and widespread economic instability, across the world, another mass exodus from traditional work occurred in 2021 when workers voluntarily left their jobs driven by a desire for better opportunities and improved work-life balance in what is now referred to as the Great Resignation. The benefits of hiring freelancers The hybrid model became…

Jubilee Metals Group has entered into a partnership with a local miner in a bid to address the mounting piles of platinum group metals (PGM) feedstock at its South African operations. This agreement, announced on Wednesday, is set to facilitate the processing of at least 18 000 tons of surplus material monthly, marking a significant step in Jubilee's operational efficiency. Jubilee has copper operations in Zambia as well as PGM and chrome operations in South Africa. “Our preference is to partner with existing PGM producers to process this excess stock rather than investing further capital to expand our own PGM capacity,” said Jubilee CEO, Leon Coetzer. Although Jubilee did not name the South African PGM producer it has partnered for this agreement, Coetzer said transaction offers the company “the opportunity…

As the Easter festivities approach, South Africans from all walks of life find themselves united by one culinary enigma: how should one enjoy pickled fish? This quintessential dish is synonymous with the Easter weekend, sparking debates over the ideal way to savour its tangy, spiced goodness. Should it be served hot, with steam rising off of its aromatic blend of garlic and spices, or cold, with its flavours more pronounced in their chilled state? Historically, the tradition of eating pickled fish during Easter stems from the Christian practice of abstaining from meat on Fridays during Lent. Fishermen’s wives found a clever solution to preserve excess catches from the sea. The process of pickling ensured that fish could be stored safely while providing a unique flavour profile that remains cherished to…

INFRASTRUCTURE experts are calling for a concerted effort to enhance the skills of water management professionals to effectively address the pressing water challenges affecting the province. David Leukes, President of Consulting Engineers South Africa (Cesa), made this urgent appeal during a gathering of professionals in uMhlanga yesterday. The event focused on infrastructure issues and the necessity of building resilience against climate-related challenges. “The success of our vision hinges on our people. We must invest in skills!” Leukes said, as attendees engaged under the theme, “Collaborating for the Future We Want: Mobilising for Sustainable Development”. Leukes highlighted the critical need for resilient infrastructure in KwaZulu-Natal, which has suffered extensive damage from floods, resulting in water outages that frustrate residents. “The recurring floods over the past several years have underscored the need…

The Msunduzi Municipality says it has changed its card payment policy after a councillor raised concern that it was charging an additional transaction fee when customers used their bank cards to pay municipal bills. A councillor described these charges as a “rip-off”. The municipality was accused of imposing the additional card charge each time a customer paid a bill of R3 000 or more using their bank card. When asked about the charge, the council defended itself, stating that it had been forced to implement this practice because customers were using their cards to pay large amounts, resulting in excessive transaction charges being incurred by the municipality. Councillors in the city had raised concerns about the charge. The Mercury has seen the charges listed on two municipal bills: one is…

Declan Rice admitted his brilliant free-kick double in Arsenal’s stunning 3-0 win over Champions League holders Real Madrid was years in the making. Rice scored with two sublime free-kicks in the second half of the quarter-final first leg at the Emirates Stadium on Tuesday night. The England midfielder’s long-range rockets were followed by a Mikel Merino goal as Arsenal moved to the brink of reaching the Champions League semi-finals for the first time since 2009. It was an incredible result, made all the more remarkable by the fact Rice had never scored a free-kick in his career until the first of his set-piece blasts flashed past Real keeper Thibaut Courtois. “It’s been in the locker, but I’ve hit the wall too many times or it’s gone over the bar,” Rice…

Originally scheduled for March 1, the 2025 Port Natal Men’s and Women’s Trips semi-finals and finals were thrown a curveball when heavy rains flooded the greens. But nothing could dampen the competitive spirit of the bowlers or the anticipation of their supporters. Rescheduled and played on Saturday April 5, Westville Country Club came alive as a sea of spectators lined the banks, witnessing a day of captivating clashes and high-stakes drama that showcased the very best of bowls in the district. The ladies final was the culmination of a day already brimming with drama. Hillary’s Bridget White, Talia Russon and Aileen Ramsden entered the final with resolute confidence after two nail-biting victories in their quarter and semi-finals, while the Umhlanga side – Maria Dreyer, Lisa Nicholas and Linda Ellis –…

Maritime industry stakeholders celebrated the significant progress made by Transnet in eliminating the backlog of vessels at anchorage in Durban, dropping the number from 20 to zero in 2024. This achievement comes as a relief to shipping lines, importers, and exporters who have faced costly delays in trade due to port congestion Managing Executive at the Durban Terminals, Earle Peters, made the announcement during Transnet Port Terminals (TPT) celebration of 200 000 TEUs at Durban Multipurpose Terminal (MPT) on Tuesday. Peters said that this performance was testament to increased trade, an improving economy, and the terminal’s growing capabilities, supported by a dedicated workforce ensuring reliable cargo handling. “Over the last five years, the terminal had taken delivery of four reach stackers. The Durban MPT was instrumental in the execution of…

The imposition of a 30% reciprocal tariff on South African agricultural exports by the US represents a turning point in bilateral trade relations. This protectionist measure, seemingly implemented in response to South Africa's trade barriers, threatens to undermine decades of carefully cultivated economic cooperation while exposing the vulnerabilities of the export-dependent agricultural sector. The timing could hardly be worse for South African producers, as many are still recovering from pandemic-related disruptions and facing increasingly challenging global market conditions. In 2024, South African total agricultural exports recorded about $13.7 billion (R253.5bn); the US absorbed about 4% of this total. Over the years, several high-value agricultural subsectors have relied on African Growth and Opportunity Act (Agoa) to capitalise on the US market through its duty-free access provision for a wide range of…

As the pet industry in South Africa continues to boom, Nadia Koegelenberg, the photographer behind the lens at Moonrise Creative Studio, was able to blend her two most loved passions, animals and photography into a blossoming business. Koegelenberg’s Moonrise Creative Studio specialises in photography and graphic design putting her Bachelor’s degree in Visual Communication to good use. "While I explore all avenues of photography, my heart belongs to pet photography, a passion inspired by my own two beloved dogs: Maverick, a loyal German Shepherd-Labrador mix that doubles as my shadow and Hudson my sweet Pittie who’s really just a baby in disguise," Koegelenberg told Business Report. The young photographer said that entering the highly competitive world of photography was anything but easy, as she stepped into the industry after her…

Nampak has concluded agreements for the disposale of its Zimbabwean unit with the transaction now subject to suspensive conditions. Through Nampak Southern Africa, the South African packaging manufacturer is disposing of Nampak Zimbabwe to TSL, a Harare-based logistics and processing company. “Regarding the proposed disposal of a 51.43% shareholding in the Company by Nampak Southern Africa Holdings Limited, shareholders and the investing public are advised that the seller and TSL Limited have concluded a sale and purchase agreement in respect of the sale, which agreement remains subject to various suspensive conditions,” Nampak Zimbabwe said on Wednesday. It is expected that Nampak Zimbabwe will make an announcement of the complete disposal in the next few weeks. TSL is acquiring Nampak Zimbabwe for a purchase consideration of $25 million. In compliance with…

The EFF has filed court papers in the Western Cape High Court to challenge the adoption of the 2025 Fiscal Framework and Revenue Proposals by the National Assembly last Thursday, deeming it unlawful and unconstitutional. The DA has also filed papers in the Western Cape High Court to challenge the legality of the 2025/26 National Budget process. The party is seeking an interdict to prevent the South African Revenue Service (Sars) from implementing the VAT hike on March 1, arguing that it will unfairly burden South Africans with higher living costs. The fiscal framework, passed last week with 194 votes in favour from the ANC, IFP, the Patriotic Alliance and ActionSA, among others, while the DA, EFF, and the MK Party voted against it, with 182 votes. This legal challenge…

By the time you read this, Stellenbosch FC’s fate in the CAF Confederation Cup would already have been decided. Either Steve Barker and his charges are still celebrating after the club’s most famous night in Cairo, or the men in maroon have left the mythical land of pyramids and pharaohs with their tails between their legs. But regardless of the outcome against Zamalek at the imposing Cairo National Stadium, Stellenbosch FC are the real game-changers of South African football. Mamelodi Sundowns are undoubtedly the pacesetters. The Brazilians are simply on another level – both in terms of resources and how best they utilise them to full effect. Their qualification on Tuesday evening for yet another CAF Champions League semi-final is no fluke. Soweto giants Orlando Pirates and Kaizer Chiefs, of…

The winds of change are blowing through the Banyana Banyana set-up, and coach Desiree Ellis is convinced that this will benefit the team going forward. Banyana are fresh from two international friendlies against Cosafa neighbours Malawi, winning both matches 3–0 and 2–1, respectively. These games primarily served as preparation for their defence of the Women’s Africa Cup of Nations (Wafcon) crown in July. Ellis experienced a rollercoaster of emotions in response to the results, feeling the team could have won by larger margins and managed the tempo better. Nonetheless, she was able to introduce relatively new faces into the squad, blending them with senior players. Casey Gordon earned her maiden cap, while Shakira O’Malley and Kgaelebane Mohlakoana returned to the fold following their debuts and respective prolonged absences. Ellis also…

From starting out his career in motocross and now racing in one of the fastest leagues in the world, South African Moto3 rider Ruche Moodley said his debut season is all about learning. The Eastern-Cape born speedster has already racked up six points in his first three races, and is eagerly awaiting the next time he gets to ride on a new track. Moodley races for BOE Motorsports, with New Zealand teammate Cormac Buchanan. The 18-year-old is north of Doha this weekend for the Qatar Grand Prix Moto3 race, and is preparing for his fourth race at the Lusail Circuit. Moodley comes off a 16th-place finish at the Circuit of the Americas, narrowly missing out on points in a wet US Grand Prix. He said tyre management at Austin was…

Trump last night gave all countries a 10% baseline except China, which will see even higher levies at 125% The rand recovered instantanously on Wednesday night after suffering a near record low earlier in the day after US President Donald Trump announced a 90-day pause on his sweeping tariffs, whic hammered global markets and raised the odds of recession. Trump on Wednesday gave all countries a 10% baseline except China, which will see even higher levies at 125%, saying that more than 75 countries had asked for negotiations over the hefty tariffs. "Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately" Trumo said on Truth Social.…

These are tumultuous times. Global geopolitics has sharply turned towards isolationism, protectionism, and transactional diplomacy. Under the Trump administration's revived leadership in the US, the world is witnessing the resurgence of trade wars and punitive tariffs. South Africa is finding itself increasingly at the crossroads of this geopolitical chessboard, especially as it pushes ahead with long-overdue reforms in land redistribution and agricultural transformation. The renewed economic nationalism from Washington is unsettling. For South Africa - a key player on the African continent and a country with a complex yet critical trade relationship with the US - this shift has immediate and far-reaching consequences. Agriculture, in particular, stands vulnerable. The sector, which had begun to reap modest but important benefits from the African Growth and Opportunity Act (Agoa), now faces the…

The African Continental Free Trade Area (AfCFTA), which commenced trading in 2021, represents a historic opportunity to unite 1.3 billion people under a single market with a projected gross domestic product (GDP) of $3.4 trillion (R61.2trl). However, SMMEs’ ability to participate meaningfully in this transformative trade framework remains constrained by systemic barriers, particularly access to finance, market readiness, and operational scalability. According to the African Development Bank (AfDB), Africa’s SMME financing gap stands at a staggering $331 billion annually, with formal SMMEs receiving less than 20% of the credit they need. Non-tech sectors such as agriculture, manufacturing, retail, and services are disproportionately affected, as investor attention remains skewed towards scalable technology-driven ventures. Without deliberate interventions to bridge this financing gap, there is a real risk that the AfCFTA will deepen…

Purple Group saw its strongest half-year performance after its financial services and online platforms generated good revenue growth, efficiencies improved, and client engagement increased. Results for the six months to February 28 on Wednesday showed attributable profit up 208.5% to R33.5 million. Revenue increased 25.8% to R238m. Operating expenses increased 13%, well below revenue growth. Some of the group brands include EasyEquities, EasyCrypto, EasyRetire, and EasyTrader. “We're hitting our stride. This isn't just growth - it's proof our platform model scales with discipline and client-led intent. While the macro environment is easing, uncertainty around global trade tactics - particularly from the US - continues to influence sentiment,” CEO Charles Savage said. Headline earnings a share increased 204.1% to 2.36 cents, exceeding the August 31, 2024 full-year earnings per share of…

The United Nations (UN) in Africa has urged the continent to find self-sustainable measures for development finance in a bid to counter the suspension of aid from the United States. Claver Gatete, UN Under-Secretary-General and Executive Secretary of Economic Commission for Africa, said the next five years to 2030 must be marked by bold leadership, decisive policies and strengthened partnerships that will place Africa on a trajectory of sustainable prosperity. Gatete highlighted several structural vulnerabilities restraining Africa’s progression, including the lingering impacts of COVID-19, climate shocks, persistent conflicts, geopolitical tensions, and an escalating debt burden that currently stands at 64.3% of GDP. He said that such a high debt ratio severely narrowed the fiscal space for crucial investments in vital sectors such as education, health, and infrastructure. Furthermore, Gatete…

ZULU King Misuzulu kaZwelithini has appointed Inkosi Zuzifa Buthelezi, the son of the late Zulu nation’s prime minister Inkosi Mangosuthu Buthelezi, as the chairperson of the Zulu kingdom council – a move that is being seen by many as a step closer to appointing him as the next Zulu prime minister. Buthelezi was formally appointed alongside Prince Thulani Zulu, the new Zulu royal spokesperson, in a signing ceremony in Durban yesterday. The crucial appointments come as royal elders prepare to meet with the king today to try to stop the escalating public rift between him and his siblings after a leaked voice recording emerged in which the king was involved in a verbal altercation with one of his sisters. The appointments were confirmed by Prince Thulani who said he was…

PRESIDENT Donald Trump's recent imposition of sweeping tariffs has sent shockwaves through the global economy, with Africa – and notably South Africa – feeling acute tremors. These tariffs not only threaten to dismantle the African Growth and Opportunity Act (AGOA) but also challenge the very fabric of US-Africa trade relations. AGOA, established in 2000, was intended for African countries with trade and investment preferences into the US market through the omission of duties and tariffs, offering duty-free access to over 1 800 products. This initiative spurred economic growth, particularly in sectors such as apparel and automotive manufacturing. For South Africa, AGOA facilitated over $2 billion in vehicle and auto parts exports to the US in 2024 alone. However, the recent tariffs have cast significant doubt over these gains. South Africa…

Jose Riveiro is the conductor of his own orchestra as he continues to produce sweet melodies in his last dance at Orlando Pirates. The outgoing Pirates coach guided his team to the CAF Champions League semi-finals after beating MC Alger 1-0 on aggregate on Wednesday night. Riveiro’s men did most of the job away in the first leg, after winning 1-0 courtesy of a Mohau Nkota goal, and finished it off with a goalless draw at a buzzing Orlando Stadium on Wednesday night. Pirates will face Pyramids in the semi-final – a feat that they’ve reached for the first time since losing as finalists in 2013. It’s fast becoming a fairy-tale end to Riveiro’s stint after he announced he’ll not be renewing his three-year contract at the end of the…

Manchester United’s lone hope of salvaging anything from a terrible season lies in the Europa League, where success is vital to helping finance a rebuild of Ruben Amorim’s under-performing squad. United travel to Lyon for the first leg of their quarter-final tonight (9pm kick-off), the first meeting of the clubs since Cristiano Ronaldo’s goal settled a last-16 tie in 2008 en route to the English giants’ last Champions League title. A dour 0-0 draw with Manchester City at the weekend left United in 13th place in the Premier League, prompting Amorim to say his side must improve “everywhere”, with the team destined for their worst top-flight finish in at least 35 years. The Europa League offers United their only route back into Europe next season, but falling short of anything…

Mamelodi Sundowns’ advancement to the semi-finals of the Caf Champions League on Tuesday night could very well spell more trouble for struggling Kaizer Chiefs. Sundowns will host Chiefs in the semi-final of the Nedbank Cup at Loftus Versfeld in Tshwane on Sunday evening. This could be the worst possible time for Chiefs to face Sundowns, as the Brazilians will be flying high after their recent triumph over Espérance de Tunis in the Champions League. Sundowns advanced with a 1-0 aggregate scoreline after a Peter Shalulile strike in the first leg at home gave them the advantage, which they sorely needed ahead of the second leg in hostile Tunis on Tuesday night. Sundowns are expected to be in a bullish mood on Sunday and beyond, as beating Espérance brings two major…