Star 2025-10-06

The Public Investment Corporation board said in a statement it has resolved to place its chief investment officer (CIO), Kabelo Rikhotso, on precautionary suspension, with immediate effect. Rikhotso’s suspension follows allegations of misconduct that were levelled against him through a whistleblower report. "Effected in line with applicable labour legislation and internal PIC policies and procedures, the suspension is intended to ensure a fair, objective and independent investigation into these allegations. The suspension does not, in any way, constitute a finding nor is it a pronouncement of any wrongdoing on the part of the CIO," the PIC said. In the interim and to ensure continuity, August van Heerden, chief risk officer, has been appointed as acting chief investment officer. The PIC said it remains firmly committed to the highest standards of…

A new White Paper has outlined detailed plans for the development of the Port of Gauteng, a massive inland logistics hub designed to relieve pressure on South Africa’s congested Durban–Gauteng Freight Corridor and transform the country’s freight transport landscape. The document, released at the start of Transport Month, marks a key milestone for the R50 billion project — one of South Africa’s largest private-sector infrastructure initiatives. Developer Francois Nortje said the Port of Gauteng aims to become Africa’s most advanced inland trade gateway, addressing chronic inefficiencies in the national logistics system while creating more than 50 000 permanent jobs. “This premier trade gateway is set to transform Africa’s freight transport landscape by addressing critical inefficiencies in South Africa’s logistics system, while generating over 50 000 permanent employment opportunities and substantially…

Major poultry producer Astral Foods has welcomed the Competition Commission’s Poultry Market Inquiry (PMI), saying it provides an important opportunity for constructive engagement on the structure and competitiveness of South Africa’s poultry value chain. In a statement on Friday, the JSE-listed company said it supported the inquiry’s objectives and would use the platform to highlight the role of integrated poultry production in strengthening food security and driving sustainable employment. Astral emphasised that the PMI “is not an investigation into anti-competitive behaviour,” but rather an assessment of how the market functions and whether any structural issues distort competition. "Astral will, as a listed poultry producer, engage constructively with the inquiry process. Astral will also participate as a member of the industry body, SAPA," said CEO Gary Arnold. "Astral will continue to…

as Postbank fights with Sassa The South African Postbank has taken issue with the South African Social Security Agency (Sassa) over what it describes as a unilateral decision to extend their Master Service Agreement (MSA) by three months, arguing that the matter should instead be determined by a Ministerial Inter-Governmental Committee (IMC) directed by President Cyril Ramaphosa. Last week, Sassa announced a three-month extension to the notice period for the termination of the MSA with Postbank, saying the move would provide “time and space” for the executive authority to deliberate on issues between the two entities and offer guidance. However, Postbank maintains that the decision undermines a presidential directive made after a high-level meeting between the parties and the Presidency, where it was agreed that an IMC would be established…

Heavily subsidised sugar from countries including Brazil and India is currently displacing locally grown sugar from local suppliers, and this is putting thousands of South African jobs at risk. South African growers produce enough sugarcane that can be processed to supply all of our country’s sugar needs, but for every ton of imported sugar in South Africa, local growers lose a significant amount of income, threatening to lead to job losses and devastation in Mpumalanga and KwaZulu-Natal's rural economies. In just June and July this year, 90 000 tons of sugar were imported, leading to a loss of R684 million in revenue for the South African sugar industry. This means that local growers have less to invest in their operations, to pay wages, and to support their local rural communities.…

The 4th Annual B Lab Africa Summit has heard that the continent is increasingly ready to take action to mitigate against climate change, provided solutions are African-led and tailored to local realities. Africa remains the continent hardest hit by the impacts of climate change despite contributing just 4% of global carbon emissions. Africa requires an estimated $277 billion annually until 2030 to implement climate solutions. Speaking during the Summit on Thursday, B Lab Africa CEO Lucy Muiga pointed to Africa’s youthful population, abundant natural resources, and entrepreneurial spirit as key assets in addressing the climate crisis. “Is Africa ready? Yes. Do we still have a long way to go? Yes, but the solutions for Africa are with Africans,” Muiga said. “The question before us is not whether Africa can rise…