Cape Times2025-12-10的目錄

South Africa has taken a major step toward boosting long-term infrastructure investment after the National Treasury successfully raised R11.795 billion in the country’s first sovereign Infrastructure and Development Finance Bond. The landmark issuance, announced on Tuesday, attracted strong market appetite, with bids exceeding R26bn, more than double the amount on offer, resulting in a 2.2-times subscription rate. Treasury said the strong demand demonstrates investor confidence in the State’s redesigned infrastructure financing strategy. The bond forms part of a series of reforms unveiled in the 2024 Medium Term Budget Policy Statement, aimed at expanding investment in critical infrastructure to support economic growth and improve service delivery. The proceeds of the bond will be channelled exclusively into projects under government’s Budget Facility for Infrastructure (BFI). The BFI is a specialised mechanism within…

South Africa may be heading into 2026 with renewed momentum after the North-West University (NWU) Business School’s Policy Uncertainty Index (PUI) showed a significant improvement in the final quarter of 2025. The index, released on Tuesday, eased to 64.9 from its record high of 81.0 in the third quarter, indicating a notable reduction in policy-related risks even though uncertainty remains above the neutral baseline of 50. Professor Raymond Parsons, economist at the NWU Business School, said the latest results suggest that “positive factors over the past three months have outweighed the negative ones,” allowing the economy to enter 2026 “on a note of cautious optimism.” Parsons emphasised that the global environment remains complex but generally supportive of growth. The International Monetary Fund (IMF) expects worldwide economic expansion of 3.2% in…

Leadership renewal has become one of the defining governance issues of this decade. In a climate defined by geopolitical volatility, digital disruption, and heightened stakeholder scrutiny, there is growing recognition that leaders who got companies to this point may not be the leaders who will take them forward into an uncertain future. The pace and unpredictability of today’s operating environment demand leadership teams that can adapt and refresh when required – boards can no longer rely solely on legacy leadership capability to steer through volatility. In response, boards are re-assessing long-standing leadership structures and asking tougher questions about whether their organisations are properly equipped for the complexities of the next ten years. Part of that reflection includes acknowledging how easily leadership blind spots can form when capability does not evolve…

The great migration has begun. South Africans and many of our country’s migrant workers will begin the great trek, as holiday makers head to the coast, the berg, the bush, and the rural hinterlands of places they call home. It is also the last-minute rush to move goods and cargo on time for the festive shopping and to stock up warehouses for the demand of a new year, when all economic and social beings and systems yawn out of the end of year festivities back to making South Africa work. With the attention it so deserves, the narrative around transportation and mobility at this time of the year, becomes about road safety due to the hundreds of lives lost due to road fatalities. The other focus becomes our congested land…

Ezeebit, the FSCA-regulated stablecoin and cryptocurrency payment infrastructure company, has announced the close of a $2.05 million (R35m) seed funding round. The capital will be used to accelerate product development and merchant adoption in South Africa, Kenya, and Nigeria and expand strategic partnerships with banks, PSPs, and telcos. Ezeebit enables merchants to accept cryptocurrency payments with instant stablecoin settlement and next-business-day local fiat payouts. Operating since 2023, it was founded by three brothers - Daniel, Jonathan, and David Katz - who saw firsthand how traditional payment systems were failing African merchants, Ezeebit was built from the ground up to solve real merchant problems with compliance-first infrastructure. The company serves brick-and- mortar and online merchants across South Africa with expansion planned into the rest of Africa. Since launching in 2023, the…

The Labour Court in Cape Town has delivered a significant judgment strengthening protections for workers who participate in protected strike action. On Monday, Judge André Lagrange ruled that HEINEKEN Beverages acted unlawfully when it withheld short-term incentive (STI) bonuses from 39 Solidarity members because they took part in a two-day protected strike in February 2023. In a detailed 60-page judgment, the court found that HEINEKEN breached sections 5(1) and 5(2)(c)(vi) of the Labour Relations Act (LRA), which prohibit employers from discriminating against or prejudicing employees for exercising rights conferred by the Act, including the constitutional right to strike. Judge R Lagrange's ruling orders the multinational beverage company to disclose how the 2023 STI bonuses were calculated and to pay the affected employees the bonuses they were denied. The case centred…

ANC chairperson Gwede Mantashe has identified public sentiment as the biggest challenge confronting his party ahead of next year's local government elections. The ANC faces an uphill battle to retain and regain key metros in 2026, amid ongoing corruption allegations, governance failures and declining service delivery. The party has yet to announce its mayoral candidates for the metros. It currently enjoys a majority in one (Buffalo City) of the country’s eight metros. Speaking on the sidelines of the NEC meeting yesterday, Mantashe said public sentiment - not party planning - was the biggest challenge when asked about the ANC’s strategy ahead of the 2026 local government elections. “It’s not our plan. It’s the attitude of society towards us. What we should be doing is correcting that attitude,”…

Lentegeur police have registered a case of reckless and negligent driving following an accident at the corner of Morgenster Road and Eisleben Road, which left six prisoners, two civilians, and two SAPS members injured. Police spokesperson FC Van Wyk said the SAPS vehicle was en route from Pollsmoor Prison to Philippi Magistrates Court when it collided with a black Toyota. One female and five male prisoners sustained slight injuries and were transported to a nearby medical facility for treatment under police guard, with all prisoners accounted for, and the rest taken to court. The two occupants of the Toyota and two SAPS members were also transported to a nearby hospital for treatment. The circumstances leading to this accident are under investigation. At the scene, people were seen lying on…

1st T20I India: 175/6 (Pandya 59*, Ngidi 3/31, Sipamla 2/38) SA: 74 all out (Brevis 22, Singh 2/14, Bumrah 2/17) w India won by 101 runs, lead series 1-0 WITH the T20 World Cup a mere seven games away, the Proteas produced an uncertain performance in the opening T20I against India yesterday that will have coach Shukri Conrad concerned about where his team is actually going. They went down by a mammoth 101 runs, bowled out for just 74 in 12.4 overs, in response to the hosts’ 175/6, which in short format terms is a proper “snotklap”. It was also the Proteas’ lowest ever total in T20Is. What perhaps mattered more than the defeat was the evidence that tourists are still casting around for a workable method for the tournament…

International airlines expect to transport a record 5.2 billion passengers in 2026 despite global headwinds affecting the sector, the industry's trade association said on Tuesday. Carriers are also now expecting higher profits than previously forecast for 2025, and predict earnings to come in at a comparable level next year, the International Air Transport Association (IATA) added. IATA, which groups around 360 carriers representing 80 percent of global air traffic, said 2025 profits are projected to reach $39.5 billion, up from the $36 billion they predicted at the body's annual general meeting in June. IATA's Director General Willie Walsh attributed the improved outlook to air freight's better performance, achieved despite trade disputes triggered by the United States. Profits in 2026 are projected at $41 billion, with persistent aircraft availability problems putting…

The Congress of South African Trade Unions (Cosatu) has welcomed the agreement between Eskom and major ferrochrome producers Samancor Chrome and the Glencore–Merafe Chrome Venture to halt planned retrenchments that threatened more than 7 000 jobs from December. The federation, however, says the temporary reprieve must pave the way for a permanent, affordable electricity solution to safeguard the future of South Africa’s ferrochrome sector. The memorandum of understanding (MOU) signed by Eskom, the producers and government establishes a joint multi-stakeholder task team to develop a long-term intervention to support industrial competitiveness without shifting additional costs onto other electricity users. The parties aim to present a proposed solution within three months. Cosatu parliamentary coordinator, Matthew Parks, said on Tuesday that the federation “warmly welcomes this job-saving agreement,” but emphasised that the…

South Africa’s agricultural machinery market is ending 2025 on a strong footing, with tractor and combine harvester sales continuing to rise despite challenging weather and softer commodity prices. The South African Agricultural Machinery Association (SAAMA) reported that 544 tractors were sold in November, up 4% from the 523 units sold in the same month last year. SAAMA chairperson Willie Human said year-to-date tractor sales are now 19% higher than in 2024, underscoring farmers’ resilience and investment appetite. “Three combine harvesters were sold in November, 10 less than the 13 units sold in November last year. On a year-to-date basis, however, combine harvester sales are now approximately 3% up on last year. Overall market conditions proved to be quite challenging in November,” he said. Human noted that widespread rains disrupted…

Distributed or onsite renewable energy generation - commercial and industrial systems installed at factories, mines and other large energy users - is the quiet workhorse of South Africa’s energy transition. It powers businesses, takes pressure off the grid, cuts costs, reduces reliance on diesel and coal, and strengthens our economy. These projects usually comprise solar PV, are sized from a few kilowatts to tens of megawatts, often paired with batteries, and are among the fastest, most deliverable parts of the energy transition. The problem is their rollout is slowed by a grid-access process that treats a 10 megawatt (MW) onsite project the same as a 100 MW utility plant. The result is delays, uncertainty and rising project costs that hold back private investment when we need it most. Demand isn’t…

Merafe Resources said Tuesday the consultation period for a government-aided intervention to prevent its joint venture ferrochrome smelters from closing will be extended to February 28, 2026. Last week, Merafe Resources said retrenchment notices would be issued for more than 2 000 workers at the Boshoek and Wonderkop smelters after an earlier government proposal on electricity tariffs to save the Glencore Merafe Chrome Venture's (JV) ferrochrome smelters from closing, would only benefit one of its three smelters. The JV has been negotiating for years for lower electricity tariffs. Merafe's smelters account for about a third of South Africa's ferrochrome exports. Merafe said a new Memorandum of Understanding (MOU) has been signed with Eskom following recent engagements. Estimates are that some 300 000 to 350 000 jobs have been lost due…

WEAK law enforcement and poor whistle-blower protection undermine public willingness to fight corruption, according to a recently released study into how South Africans can be encouraged to adopt an anti-corruption mindset. The study also found that one of the main reasons people do not want to report corruption is a lack of trust in the legal system and law enforcement agencies. This was revealed by Dr Steven Gordon, chief research specialist at the Human Sciences Research Council (HSRC), following the recent release of their report titled, ‘Corruption and Behaviour Change: Tracking Social Norms and Values in South Africa’. According to the report, the proportion of adults who expressed an appetite for taking action in the fight against corruption increased between 2023 and 2025. The share of the public…

ONLY 18 companies have been barred from engaging in business with the government despite the Special Investigating Unit (SIU) flagging nearly 500 firms in its recommendations. This emerged from Finance Minister Enoch Godongwana’s parliamentary replies to ActionSA MP Alan Beesley. A report from the Presidency to the Standing Committee on Public Accounts earlier this year revealed that 467 individuals and companies were recommended for inclusion in the Restricted Supplier Register, but only one entity appeared on the list, prompting Beesley to demand transparency regarding the remaining 466 companies that have slipped through the cracks. He asked the organs of state that failed to notify the National Treasury of the specified companies and individuals recommended for blacklisting and the reasons for the failure to blacklist them despite the SIU recommendations.…

Homeowners, corporate bodies, and residential schemes can now bypass the Community Schemes and Ombud Service (CSOS) and bring their disputes directly to the appropriate authority court following a recent ruling by the Supreme Court of Appeal in the “Summervale Lifestyle Estate” case. This is according to Johlene Wasserman, director of Community Schemes and Compliance at Sandton-based law firm VDM Incorporated. “This decision, which has ended years of uncertainty, is critical for parties facing complex or high-value legal battles. While it doesn’t undermine the valuable role of CSOS, it does empower stakeholders to choose the forum they prefer, without any of the procedural hurdles that may previously have limited their options,” she said. Summervale Lifestyle Estate is a retirement village for the over-50s in Gordon’s Bay, Western Cape. Parch Properties 72,…

While this was not a World Cup-winning year for the Springboks — and if there had been a World Cup, they would surely have won it — the year 2025 is right up there in their “best ever” category. If we include the warm-up match against the Barbarians, the Boks played 15 matches, losing just two for an 86% record. That is the best Springbok return in the modern era, but not the best in history. In the first half of the 20th century, up to the famous 4-0 whitewash of the All Blacks in 1949, the Boks almost routinely finished the year unbeaten for a 100% record, but the issue is that they averaged just five Tests per year. Maybe the best way to evaluate how good a year…

Recommendation appears in the 72-page Base Document tabled at the party’s National General Council The African National Congress (ANC) has revived its long-standing proposal to expand the South African Reserve Bank’s (Sarb) mandate beyond inflation targeting, arguing that the central bank must play a more central role in tackling unemployment, poverty and inequality. The recommendation appears in the 72-page Base Document tabled for discussion at the party's 5th National General Council (NGC). The document outlines a sweeping overhaul of the country’s developmental strategy, though critics argue it offers more rhetoric than concrete policy direction. In the section titled "Defining and Implementing an Effective Developmental Path for Growth and Social Equity", the ANC calls for a fundamental rebalancing of South Africa’s macroeconomic policy framework. The party argues that the Sarb’s…

The G20 Leaders’ Summit is over, now the hard work to implement and apply its many declarations must start. One particular declaration that must be taken to heart if we want to address a core challenge at the heart of our stalled economy, is the absolute necessity of reducing the rate of young people not in employment, education, or training (NEET) by a further 5% by 2030. This calls for a whole new way of thinking about teaching, learning, and employment, and South Africa’s government, its business leaders and institutions of higher learning will have to work together to change the narrative. For example, instead of complaining about skills shortages, we can collaborate to actively define and invest in the skills our economy needs; and rather than seeing training as…

South African consumer confidence improved notably in the fourth quarter of 2025, offering a welcome boost to retailers ahead of the festive season. The latest FNB/Bureau for Economic Research (BER) Consumer Confidence Index (CCI), released on Tuesday, shows the index rising from -13 in the third quarter to -9, marking the strongest reading of the year. Although still below the long-term average of -1 and slightly lower than the 2024 festive-season level of -6, the CCI report says the latest uptick is meaningful. It follows robust retail activity earlier in the year, with sales volumes growing by an average 3.9% year-on-year during the first three quarters of 2025. The BER noted that the improvement suggests consumers’ willingness to spend has extended into the holiday period. The biggest driver of the…

South Africa’s electricity transition has entered a decisive phase. The past three years have delivered steady improvements in plant performance, private sector investment in new generation and a visible strengthening of the institutions that govern the sector. The approval of the Market Operator licence and the formation of the Electricity Market Advisory Forum are important milestones that move the country closer to a competitive electricity market. The most significant development of the last quarter, however, is the publication of the Grid Capacity Allocation Rules by the National Energy Regulator of South Africa (Nersa). The rules come at a time when grid access has become the binding constraint on the pace of new investment. South Africa has reached a point where the generation pipeline is healthy, capital is available, and technological…

Thungela Resources' management are confident of producing about 13.7 million tons of export saleable production for the year to December 31, 2023, which is above the guidance range of 12.8Mt to 13.6Mt. The coal mining group's chief financial officer Deon Smith said in a pre-close update that the production is in spite of the transition in its South Africa production profile, with the closure of Goedehoop and the successful ramp-up of Annea Colliery, as well as the hand-over of the Zibulo North Shaft project. Production momentum also benefitted from "consistent rail performance" and improvements by Transnet Freight Rail (TFR), with an annualised 56.6Mt run-rate for the industry for the period ended November 30, 2023, which is a 9% improvement on the 51.9Mt delivered in 2022. In Australia, export saleable production…

UMKHONTO weSizwe Party (MKP) Convener Willies Mchunu, has issued a stern warning against ill-discipline by disgruntled party members looking to oust him, saying protesting against a leader is tantamount to protesting against the organisation. Mchunu confirmed that he was aware some members had come to the MKP office to complain about him. “I do not know the source of their complaints, as they did not engage with me regarding their issues.” Sources within the party said Mchunu has been a target since he took over the position. This campaign is said to have intensified after he introduced strict governance controls that eliminated any abuse of party resources. “I would not want to speak of the speculation out there as to what is going on, but I am aware that…

TWENTY-EIGHT people have been killed on Western Cape roads in the first week of the festive season. Of the 28 fatalities recorded, 12 were pedestrians, making them the single largest group affected this past week. The other fatalities include 10 passengers, 3 drivers, 2 motorcyclists, and 1 cyclist. The provincial mobility department expressed concern over the alarming number of road incidents recorded in the first week of the festive season, from December 1-7. Mobility MEC Isaac Sileku said: “These numbers are extremely troubling, especially considering that the peak travel period has not even begun. Every life lost is a tragedy, and every family affected enters the festive season carrying pain instead of joy. Pedestrian safety remains one of our greatest concerns, we urge every road user, whether behind the wheel…

The Stormers look set to bring back Sacha Feinberg-Mngomezulu, Damian Willemse and Cobus Reinach for Saturday’s Champions Cup showdown with La Rochelle in Gqeberha — but their return comes with a challenge. The Bok trio may add star power, yet they’ll need to raise the standard of a team that has been flying without them. The Cape side is still unbeaten this season, riding high after six excellent United Rugby Championship wins and a statement victory in France against Bayonne. That performance in the opening match of the Champions Cup made it clear that the Stormers aren’t just participating in Europe — they’re competing with intent. But the next test is a big one. La Rochelle, a team the Stormers have developed a fierce Champions Cup rivalry with, arrive at…

It's at times such as these that the discerning soccer fan no doubt misses Pitso Mosimane. As Orlando Pirates sit pretty on the perch of the Betway Premiership table, threatening to bring an end to Mamelodi Sundowns’ domination of the domestic championship, the silence from Chloorkop is deafening. "Jingles" would have been throwing jabs at the Buccaneers. He would be making them feel like they are merely warming the spot. He would be making them doubt themselves, wondering if they are worthy of the championship. Damn, he’d have even insinuated they are at the top because they are owned by the league’s chairman. It's a journalist’s dream — content, as the kids say today. But more than that, he spiced up the championship race. He made our football exciting. Pirates,…