Cape Times2025-11-24的目錄

The South African Local Government Association (Salga) has said the Distribution Agency Agreement (DAA) aimed at addressing the ballooning R105 billion debt to Eskom is not sufficient in itself, pointing to inefficiencies with Eskom's systems and lack of capacity of the National Energy Regulator of South Africa (Nersa) to efficiently regulate 167 municipalities with only a 400 staff complement. Salga told Parliament on Friday that it was seeing a surge in the repeated deterioration and aging of infrastructure, the decline in financial sustainability in municipal distribution businesses, the poor asset management and outdated technologies, the rising operational costs and severe revenue losses, escalating vandalism theft and illegal connections at the municipal level. Salga said there was inherent danger of fragmentation on distribution with Eskom, along with 167 municipalities licenced to…

South Africa successfully champions critical issues facing low and middle income countries The G20 Leaders' Summit held for the first time on African soil in Johannesburg over the weekend has come and gone, but South Africa has successfully championed to put critical issues facing low- and middle-income countries at the center of global debate. This is in spite of the United States boycotting the global summit and attempting to influence Heads of States not to adopt the Leaders' Declaration, which somewhat caused a minor diplomatic row over the incoming G20 Presidency. President Cyril Ramaphosa used his closing remarks on Sunday to deliver a clear message: the world’s ability to secure prosperity, stability and climate safety hinges on helping developing nations escape crushing debt, accelerating climate action, and ensuring that the…

South Africa’s food inflation continued its downward trend in October, easing for the third consecutive month even as overall consumer inflation edged higher. Statistics SA reported last week that food price inflation slowed to 3.9% in October, down from 4.4% in September, while headline inflation rose to 3.6% from 3.4%. Economists and civil society organisations have welcomed the decline, saying it offers much-needed relief to households squeezed by high living costs. Wandile Sihlobo, chief Economist at the Agricultural Business Chamber of South Africa, said the slowdown was driven largely by lower prices for fruit and nuts, vegetables, meat, sugar, confectionery and desserts. “The ample supplies, combined with the base effects, are what contribute to the easing of price inflation in these products," he said. "Moreover, while modestly up from the…

The Monetary Policy Committee (MPC), during its press conference last Thursday on its latest repo rate decision, decided to lower the repo rate with 25 basis points from 7.00% to 6.75% with immediate effect. In return banks lowered their prime rate by 0.25% to 10.25%. This is the second cut for 2025, bringing the repo rate down by 50 basis points in total. Before the press conference there was a 50/50 division between economists and analysts on the possibility of a lower repo rate. The President of the Reserve Bank on Thursday, Lesetja Kganyago said that inflation expectations, point towards moving towards the 3% objective. The average inflation rate for the year to date is 3.15%, this is despite the increase in October to 3.6% from 3.4% in September,…

Cilo Cybin Holdings’ share price fell sharply by 7.1% on Friday after its interim results showed a taxed loss of R212.2 million versus a R6m profit previously - the losses were mainly driven by accounting listing charges. “Excluding the once-off IFRS 2 (listing) charge, the group would have ended on a profit of R5m,” the interim results said on Friday. The share price ended at R2.85 when the market closed. A non-cash IFRS 2 listing expense of R217.5m was recognised, arising from the reverse acquisition and the issue of shares to acquire the listing status of Cilo Cybin. Cilo Cybin is South Africa’s first licensed medical cannabis cultivator and remains one of the few vertically integrated players with both cultivation and manufacturing licences. It operates as a contract manufacturer for…

G20 Research Group co-director John James Kirton from Canada has described US President Donald Trump as a bad and unpredictable neighbour. "I think that Donald Trump, with every tweet, is becoming more and more divorced from reality, leading to speculation that he may be suffering from dementia. He wants to annex Canada, using economic sanctions. No one knows what is next when he is involved," Kirton said. "Trump is not a good neighbour. Not to Canada, not to Mexico and certainly not to Argentina. In this summit, there is Russia, there is Canada, there is India, and other countries are here, but it seems President Trump does not realise that he needs the critical minerals from Africa to power his economy," he stated. Kirton was speaking during the first day…

TURKISH President Recep Tayyip Erdoğan hailed G20 hosts, South Africa saying it has once again demonstrated its commitment to global cooperation and solidarity by hosting this essential gathering of world leaders. “As a gateway to Africa, South Africa is crucial in fostering inclusivity and growth for the continent within the global economy. South Africa, having gained independence 30 years ago under the visionary leadership of Nelson Mandela, has not abandoned standing up for human rights all over the world,” Erdoğan remarked. He also used his address to reflect on the ongoing humanitarian crisis in Gaza, saying the reconstruction and humanitarian assistance must commence without delay. His country pledged ongoing support for Gaza’s rebuilding efforts. “We cannot ignore a genocide in Gaza where 60 000 people have lost their…

As Johannesburg gleams under the international spotlight of the G20 Summit, an unsettling truth is being revealed to its citizens. The city is demonstrating a capacity for order, cleanliness, and security that stands in contrast to the daily experiences of millions. The intensive clean-up operations, the swift repair of infrastructure, and the highly visible deployment of police forces prove that the capability for excellence exists within the municipal machinery. The pressing challenge for the city’s political leadership is to ensure this standard does not vanish with the last motorcade but becomes the enduring foundation of urban life in Johannesburg. It is an open secret that this level of concerted effort is reserved for events of global prestige. For the ordinary citizen, the common reality involves navigating litter-strewn streets, enduring inconsistent…

The 3 000 km-long trip was fast beginning to look futile when substitute Ashley Cupido made it worthwhile for Stellenbosch FC with a last-minute goal that gave them a 1–0 winning start to their CAF Confederation Cup group stage campaign at the Peter Mokaba Stadium on Sunday afternoon. The team from the Cape Winelands had to travel nearly the full length of the country for a “home” match far from their base, where all of the Danie Craven, Athlone and DHL Cape Town stadiums were unavailable. The Limpopo soccer faithful were conspicuous by their absence, with fewer than a thousand fans arriving for the afternoon match at the 45 000-seater 2010 Fifa World Cup venue. You would have sworn the stadium was packed, though, when Cupido made a poacher’s run…

Malcolm Marx must have approached Saturday’s clash – his 87th Test for South Africa – against Ireland at the Aviva Stadium in Dublin with plenty of thoughts running through his mind. This was, after all, the same Irish team that split a series with the Springboks on South African soil last year — winning in Durban after losing in Pretoria. It was also the same opponent against whom Marx suffered one of the worst injuries of his career: a fractured tibia caused by a dangerous croc-roll clearout at the breakdown. The culprits then were No 8 Caelan Doris and lock James Ryan, with Ryan executing the illegal cleanout while Doris took the yellow card. So, when Marx delivered a powerhouse performance in the Boks’ 24–13 victory in Dublin this weekend,…

Despite deep ruptures in the global trading system caused by sweeping US tariffs and escalating geopolitical tensions, Africa’s trade has remained far more resilient than many feared. That was the message from World Trade Organization (WTO) director-general Ngozi Okonjo-Iweala, who said the continent has been insulated from the worst impacts of the tariff battles reshaping economic relations among major powers. Speaking on the sidelines of the G20 Leaders' Summit in Johannesburg on Sunday, Okonjo-Iweala acknowledged that the United States’ aggressive tariff actions, including high unilateral duties and a growing number of bilateral trade deals outside the WTO, have disrupted global commerce. But despite the turmoil, she said the global system has held together more than expected — and Africa, in particular, has not suffered the kind of trade contraction that…

South Africa’s pension system has absorbed two shocks that speak to the pressures shaping household financial life today. The first is the reported R3.6 billion impairment reported by the Government Employees Pension Fund (GEPF) for 2024/25 after delays in the recovery of unlisted investments. The second is the R57 billion that members withdrew in the first ten months of the two-pot system, a release that was meant to be gradual but quickly became a measure of how stretched families really are. These numbers reveal more than financial strain. They expose a system built on expectations that no longer match the realities of how people work, earn and save. For many South Africans, the path into stable work is not linear. People enter the formal labour market late, often around their…

South Africa’s wine industry is raising a glass in celebration after securing six coveted spots on the 2025 World’s 50 Best Vineyards list, a feat that Agriculture Minister John Steenhuisen says confirms the country’s status as a global wine powerhouse. Steenhuisen praised the achievement, saying the accolades reflect the industry’s innovation, high standards, and growing influence in international wine tourism. “We have always known we have great wine, and this exceptional performance, with six of our winery estates securing places amongst the world’s best, is a resounding endorsement of our wine tourism’s consistent standards and innovation,” said Steenhuisen. Steenhuisen said that two vineyards made it to the Top 10 list. Klein Constantia Wine Estate, in the Western Cape, was named the Best Vineyard in Africa and also the recipient of…

Our country is not in the space it should be in. As a host of G20 we would have loved to be a shining star that had dealt poverty a blow, a place where corruption was dealt with firmly, where children have a brighter future, taps are not only running but are oozing label blue water, with smooth streets, where women feel safe, and children are assured of a meal daily. This is the South Africa dreamed of and this is the sacrifice Mandela and his cohorts made. Yet the reality is the Madlanga Commission and the streets ooze raw sewerage, while unemployment of the youth is north of 62%. With hope for the SDGs, South Africa is no where closer to the goals as it regresses.…

Jubilee Metals Group, the London and JSE listed mining group, increased copper production by 65% in the first quarter of its financial year to September 30, with no material power outages affecting operations. The Zambia-focused copper producer said in an operational update on Friday that production was made up largely of copper concentrate produced by Roan for refining at Sable, prior to the commencement of high-grade copper (Cu) ore deliveries from the Molefe mine to Sable during September 2025. Leon Coetzer, Jubilee's CEO, said it had been a significant 12 months as the company had become a pure Zambia-focused copper producer. Jubilee’s share price fell 2.5% to 65 cents on Friday, a price already well down from R1.13 a year before. “I am pleased to report positive progress in the…

CONTROVERSIAL tenderpreneur and attempted murder-accused Vusimuzi “Cat” Matlala, who is currently in custody, is among several key witnesses lined up for this week’s Parliamentary Ad Hoc Committee hearings. The hearings will take place at the Kgoši Mampuru Correctional Centre in Tshwane, Gauteng “In addition to Mr Matlala, the committee has resolved to hear from the SAPS’ Chief Financial Officer, and the Deputy National Commissioner for Policing, Lt Gen Puleng Dimpane,” the committee said in a statement. The committee was last week told that a former SAPS employee, who was involved in awarding the R360 million health services to Matlala’s firm, now works for the Medicare24 Contract Tshwane District owned by Matlala. SAPS Head of Supply Chain Management, Molefe Fani said he has no relationship with the former employee. Asked if…

THE legitimacy of the G20 Summit could not be questioned as the declaration was issued with the support of member countries attending the global event at the weekend, says Minister in the Presidency, Khumbudzo Ntshaveni. “Our partners in the G20 will continue to implement…we don’t need anybody to take them forward, we can take them forward ourselves. “But also the United Kingdom will take them forward (when it hosts the G20 in 2027), and we will remain part of the troika of the G20, and we will make sure the South African voice will be there. “If they (US) don’t want us to participate, they will have to tell the 19 other members of the G20 that South Africa cannot participate, and the world will have to watch…

As the United Rugby Championship (URC) resumes this weekend, South African fans are gearing up for a series of high-stakes clashes, with the Jukskei Derby at Loftus standing out as the headline fixture. The Bulls are hoping to bounce back from their away defeat against the Glasgow Warriors before the international break, while neighbours the Lions will be buoyed after two successive wins erased memories of a nightmare European tour. The Bulls, last year’s beaten finalists, started the season brightly with two home wins, but endured a mixed tour, with a narrow win against Connacht sandwiched between losses to Ulster and the Warriors. They have often struggled to balance new coach Johan Ackerman’s expansive approach with the physical dominance and forward power game that served them so well in the…

Italy has unveiled an ambitious debt-relief plan aimed at easing the financial burden on low- and middle-income countries, declaring that sustainable development cannot be achieved without addressing the crushing debt many nations face. Africa faces growing financing pressures as rising debt service costs severely constrain development. By the end of 2024, public debt to countries and multilateral financial institutions had reached $1.815 trillion, while annual debt servicing climbed to $163 billion, leaving 57% of Africans living in countries where debt payments exceed health or education spending. The high level of debt is unsustainable and undermines efforts towards sustainable development and poverty alleviation. The G20 Ministerial Declaration on Debt Sustainability has signaled the intent of the G20 to do more to tackle unsustainable levels of debt alongside the rising cost of…

As G20 leaders gather in Johannesburg, discussions will centre on energy, trade and employment - issues that shape global economic activity. Alongside these familiar pillars, however, sits a less frequently examined driver: Sport. Not as charity or soft power but as a developing category of infrastructure that supports consumer demand, service industries and fiscal capacity in multiple markets. Bank of America Institute highlights the economic potential. Our Market Landscape Insights work finds that households globally spend roughly $1,122 annually on sports-related goods and experiences. Transaction-level card data show that major events reliably lift local spending. During the most recent FIFA Club World Cup, host areas recorded a 7% year-on-year increase in hospitality and retail activity. These effects are modest individually but meaningful when repeated and scaled. Different regions illustrate this…

Cosatu will be celebrating its 40th anniversary on the 6th of December at Dobsonville Stadium, Soweto. This will be an occasion for workers to celebrate their many hard-won gains since the dark days of apartheid, state brutality and absolute misery. It will be an opportunity to honour the many heroes of workers’ struggles from Ray Alexander organising clothing and laundry workers in the 1940s to Oscar Mpetha leading food and canning workers in the 1980s. Most importantly it is a moment to recharge the labour movement to tackle the many challenges workers face today from 1% economic growth to 42% unemployment rates. Cosatu, like all other labour formations, has no shortage of armchair critics who argue that unions are a burden to the economy and society, yet they shamefully…

The SPAR Group share price continued a downward trend on Friday after it warned that headline earnings per share from continuing operations were expected to be lower by 7.5% to 12.5% for the 52 weeks to September 26. The share price was trading 4.35% lower at R103.50 on Friday afternoon, following a trend of over 24% lower from R137.69 a year previously. The retail franchiser group stated in a trading statement that once-off impairments processed during the year were largely behind the fact that earnings per share from continuing operations were likely to be between 40% and 50% lower. The lower headline earnings per share would be primarily due to the SPAR Poland exit financing costs and related tax. However, the directors indicated that the group was committed to resuming…

Argent Industrials' share price leapt over 7% on Friday after it reported an 11.7% increase in the interim dividend to 67 cents a share. Revenue increased 12.4% to R1.42 billion for the six months to September 30. Earnings before interest, tax, depreciation, and amortisation (EBITDA) was up 13.2% to R229.84 million. Profit increased 12.7% to R146.98m Headline earnings a share increased by 13.3% to 261.7 cents. The share price traded at R32 on Friday afternoon on the JSE, up from R27.05 a year before. Net asset value at September 30 was 3,654.9 cents a share. “These strong results underscore the effectiveness of our disciplined capital allocation strategy and continued investment in high-performing international operations. Argent’s focus on operational efficiency, strategic diversification, and prudent financial management continues to support sustainable value…

More people are turning to movement as a practical way to manage stress, improve mood and support overall mental health. The movement trend is not only about fitness. It is about reconnecting with the body, slowing the mind and creating routines that support emotional balance. Mental health experts reveal that movement affects the mind through several pathways. First, it alters the brain's chemistry. When the body moves, it produces endorphins, dopamine and serotonin. These chemicals support mood regulation and reduce stress. Movement also lowers cortisol levels, which helps the body return to a calmer state after tension or anxiety. Experts also note that movement improves awareness. When people participate in structured or mindful movement, they learn to notice their breathing, posture, and physical responses. This awareness teaches the mind to…

AFRICAN leaders should establish markets to create value for the 30% of the world’s entire mineral reserves found on the continent to realise the objectives of G20 Critical Minerals Framework (CMF), says World Trade Organisation (WTO) head Dr Ngozi Okonjo-Iweala. “How we position ourselves as Africa depends on us and our policy-makers. If we continue to export 60% of our commodities and raw minerals, then things will not change,” Okonjo-Iweala told journalists on the sidelines of the last day of the G20 Leaders’ Summit yesterday. In its 2025 summit declaration, on Saturday, the G20 leaders called for the establishment of the G20 CMF, aimed at leveraging critical minerals as a catalyst for sustainable development, inclusive economic growth, and resilience. The framework seeks to ensure that mineral-producing countries, especially…

THE men folk in South Africa should hang their heads in shame at the statistics that we see on gender-based violence in our country as they go up and up! Where have we gone so wrong as a nation? We have traditional initiation schools…what do they actually teach the young men going into adulthood? Nothing if the stats have anything to say. We have had all sorts of movements and ads but nothing changes. Do we remember the Charlize Theron advertisement where she said “where are all the real men out there”? We never found them! We now have the Purple movement being bandied around and it calls for “ justice, unity and change”. One of the things it says is that one must lie down at…

Ten escapes have been reported from holding cells at courts across the Western Cape in recent weeks, with the latest incident at the Bellville Magistrate’s Court. The 17-year-old slipped from custody before making his court appearance on November 19. He was re-arrested days later in Durbanville. Police spokesperson Wesley Twigg confirmed the escape. “Bellville police registered an escape from lawful custody case following the escape of a juvenile on Wednesday, November 19. The circumstances surrounding the incident are under investigation. Police are following up all leads in a bid to re-arrest the juvenile.” The teen was arrested on Saturday in Durbanville. This comes after six trial-awaiting prisoners aged between 21 and 34 escaped from Wynberg Magistrate's Court holding cells in October. Police later identified four of the Wynberg escapees as…

Relief was the pervading emotion in the Springbok team on Saturday night after they broke their 13-year winning drought in Dublin with a 24-13 win. The score flattered Ireland, who were dominated from the first whistle to the last, but doggedly hung in to prevent a rout. To crown the Boks’ fourth consecutive win on their November tour, hooker Malcolm Marx was handed the World Rugby Men’s 15s Player of the Year award in the change room straight after the match. The Boks led 19-7 at half-time and went on to win the match by 11 points, despite the clash being marred by a red and yellow card. “It was a great win against a team that have dominated us since we’ve been together as a group,” said Erasmus, who…

A stunned England woke on Sunday to savage criticism after their meek capitulation in the first Ashes Test, branded “brainless” and “damaged” by former greats after their cavalier approach backfired. Ben Stokes’s men lost the opening battle in Perth by eight wickets inside two days on the back of batting collapses and Travis Head slamming a sensational sixty-nine-ball century. Since last claiming an Ashes series in Australia 15-years ago, they have now lost 14 Tests, drawn two and won none Down Under. England had a perfect opportunity to snap the dire streak and earn a psychological advantage heading into the day-night second Test in Brisbane on December 4. But after reaching 160/5, the tourists lost five wickets for 12 runs to be bowled out for 172 on day one, before…