Indholdsfortegnelse for 2025-01-30 i Cape Times

Company’s shares were suspended in October 2019 “after a reconstitution of the entire board” Artificial Intelligence (AI) software solutions provider, 4Sight, on Wednesday celebrated the moving of its listing from the JSE’s Alternative Exchange (AltX) to the Main Board under the general category, with its stock trading at 70 cents per share shortly after the market open. The company, which kept its share code of 4SI, was founded in 2013 and was trading at 70c as of Tuesday’s close. Speaking ahead of the blowing of the kudu horn, chairman Kamil Patel said “wow, we’ve done it”. Patel, a Mauritian former professional tennis player, added that the move was a once in a lifetime milestone. “This moment is more like a reward in the way I see it. It reflects hard…

In a move that could stave off a looming crisis in South Africa's steel sector, government and industry sources have confirmed that negotiations are advancing regarding a significant R1 billion rescue package for ArcelorMittal South Africa (AMSA). This initiative, which emerged partially from discussions at the recent World Economic Forum (WEF), aims to salvage the company's longs steel operations, potentially protecting around 100 000 downstream jobs that hang in the balance. Officials from the Department of Trade, Industry and Competition (the dtic) have stated that Minister Parks Tau has assured meetings with AMSA’s Group CEO, Lakshmi Mittal, during the recently-concluded WEF Annual Meetings in Davos, Switzerland. While the specifics of the deal remain under wraps, sentiments from financial sources suggest optimism regarding the Newcastle plant’s future. “Yes, there is credence…

As South Africans transition into 2025, an unexpected wave of optimism surrounds their financial futures despite the seasonal trend of overspending during the festive December holidays. A recent survey conducted by research company InfoQuest shed light on consumer behaviour, revealing that nearly 60% of respondents overspent their budgets in December, with only a third managing to adhere to financial limits. Claire Heckrath, managing director of InfoQuest, said Wednesday that many South Africans were approaching 2025 with surprising optimism overall. “What’s not surprising is that many South Africans overspent during the December holidays – and the most popular goal for the year is paying off debt,” she said. This financial conundrum becomes particularly pressing as families face early-year expenses, like school uniforms and stationery, due to the timing of January paydays…

The average cost of a data breach in South Africa rose to R53.1 million in 2024, a 10% increase from 2023, according to research by IBM. Cyberattacks are also becoming more frequent, and according to a recent article titled Unmasking cyber threats in Africa, local organisations are facing an average of 1450 weekly attacks, translating to a 4% year-on-year increase. Despite the growing prevalence and cost of these threats, a recent Santam survey reveals that only 26% of commercial entities have cybercrime cover in place. “This is particularly concerning as South Africa has been identified as a hotspot for crimes such as identity theft, data breaches, malware and phishing scams,” said Thabo Twalo, the chief underwriting ffficer at Santam Broker Solutions. The issue of cybercrime is especially relevant as…

Non-Governmental Organisations (NGOs) have warned that the decision by the US government to cut foreign funding could undermine and set back the fight against HIV/AIDS by 20 years. They stated that this decision could lead to patients not receiving their medication, developing drug resistance, which may result in the resurgence of “untreatable” diseases. NGOs that have been conducting a variety of programmes on HIV, TB, and scientific research are scrambling after US President Donald Trump announced that his administration was halting funding for a period of 90 days. Besides the health implications, there have also been media reports indicating that this could trigger a jobs bloodbath, with close to 20 000 jobs at risk. Positively Alive, a support network for men living with HIV, stated that this decision could set…

THE Western Cape Education Department (WCED) is investigating two schools that are not registered in the Kraaifontein area. This after activists demanded the closure of a school operating from an RDP house without registration. Champion Student Private School in Fukuze Street, Wallacedene, Kraaifontein has six classrooms with more than 30 learners. Each child is charged R200 to R250 per month for tuition. ANC Member of the Provincial Legislature Benson Ngqentsu said they found out about the school during an oversight visit in the area and informed the department. “A principal alerted us about it and said part of their challenge was that there is a crisis of learners from unregistered schools. “He also said when they are processing the applications they contact the parents to verify some facts but they…

LEADING SA contemporary artist William Kentridge will be installed as a Foreign associate member of the Académie des Beaux-Arts by Erik Desmazières, member of Engraving and Drawing section next month. Kentridge had been elected on September 15, 2021 as a Foreign associate member in Seat XIII previously occupied by the greek jeweller and artist Ilias Lalaounis (1920-2013). At the end of the installation ceremony, to be held under the Coupole of the Institut de France, Astrid de La Forest, member of the Engraving and Drawing section of the Académie des Beaux-Arts, will present Kentridge with his academician's sword. Kentridge has received international recognition for his drawings, films, theatre and opera productions. His method combines drawing, writing, film, performance, music, theatre, and collaborative practices to make work that is grounded in…

Thalente Mbatha is living the dream at Orlando Pirates and reaping the fruits of his hard labour following a turbulent spell at former club SuperSport United. Mbatha is one of the best midfielders in the country. He doesn’t only boss the engine room – bringing stability – but he also has a knack for goal. He has scored important goals for both club and country, Pirates and Bafana Bafana, contributing to the CAF Champions League and Afcon qualifiers campaigns. His resurgence has set tongues wagging given that he wasn’t playing at former club SuperSport United in his last few months, before surprisingly surfacing at Pirates last January. The tough spells at SuperSport under coach Gavin Hunt could have easily broken him had Pirates not come calling during the summer transfer…

Proteas coach Jenny van Dyk feels that the challenging recent Test series in Jamaica could mark a turning point in the careers of her players. The Proteas lost 3-0 in the Margaret Beckford Sunshine Series against third-ranked Jamaica in Kingston last week, but the South African coach could not be more proud of the fight her charges showed. Van Dyk feels the lessons they learnt in the Caribbean will serve them well in the Vitality Netball Nations Cup in England that tips off this weekend, and beyond. “The series was definitely a worthwhile effort. We travelled for 34 hours, we were put out of our comfort zone, we played at a venue and with a home crowd that you just cannot explain to people,” Van Dyk told Independent Media Sport…

Anglo American will use the $1 billion (around R19bn) cash from the disposal of its steelmaking coal mines in Australia to strengthen its balance sheet as it forges ahead with a new strategy focusing on copper, premium iron ore and crop nutrients. Other assets being disposed of or divested out of under the strategy include Anglo American Platinum, De Beers, among others. Anglo American, whose shares traded 1.28% weaker at R546.92 in afternoon trade on the JSE on Wednesday, is in line for a $4.9bn windfall from the disposal of its steelmaking coal operations. Last year, the company reached an agreement to spin off some of its Australian steel-making coal assets to United States-listed Peabody Energy for $3.77bn. On Wednesday, Anglo American announced the completion of the sale of the…

Stocks & Strauss Fund Manager has announced the establishment of the University Technology Fund II (UTF II) in a bid to bolster the commercialisation of groundbreaking research and technology at South African universities. Reaching a significant milestone in December 2024, all agreements have been concluded with a substantial portion of the funds already committed, marking considerable progress towards the ambitious R400 million target fund size. Anchor investors in UTF II include notable names such as the SA SME Fund, Stellenbosch University, and Allan & Gill Gray Philanthropies Africa, reinforcing a collaborative co-investment model built on a shared vision of innovation and advancement. This collective effort strengthens the initiative that boasts additional university participation, including the University of Pretoria, the University of Cape Town, and WITS University, underlining a robust commitment…

Renewed activity from first-time homebuyers in the last quarter of 2024 is an indication that the property market might be significantly more buoyant in 2025 compared to the past two years, home loans data from home loan comparison service, ooba, showed. The data from 2020 to date showed a declining trend in home loan application activity due to the higher interest rate environment and economic uncertainty. Activity particularly dipped from the fourth quarter of 2022 after inflation surged, prompting a series of interest rate hikes by the South African Reserve Bank, which weakened the economy and weighed on household finances. “Our fourth quarter data revealed a number of key trends pointing to the steady recovery of the property market, led by solid demand from the first-time homebuyer segment, along with…

Since the announcement by Minister Parks Tau from the Department of Trade, Industry and Competition (the dtic) on the establishment of the R100 billion Transformation Fund to support Micro, Small and Medium enterprises (MSMEs), many stakeholders in the broader ecosystem have been up in arms with many calling it unlawful, while some resorted to calling it an expropriation of 3% of private sector profit. Many have also slammed it for being racially discriminatory for focusing on black businesses. The detail around the Fund is still not clear to many, but one thing is clear and certain, South Africa needs a Transformation Fund that will support the establishment of micro, small and medium enterprises. The lack of access to finance experienced by many black South Africans remains a concern. In 2018,…

Eskom is set to face a rigorous examination before the Portfolio Committee on Electricity and Energy this Friday to explain dismal findings presented by the Auditor-General, Tsakani Maluleke and Deloitte executives yesterday on the utility’s 2023/2024 financial year. The implications of the audit are serious, calling into question the utility’s ability to remain a viable entity amidst escalating municipal debts and findings of glaring disregard to implementing recommendations made by auditors over the years to address the underlying root causes of its underperformance. In the report, which precludes Eskom’s now more than 300 days of no load shedding, Maluleke said commitments made over the years by those charged with governance to address these matters have not materialised due to a lack of accountability at various levels in the organisation. She…

Following the resounding success of their sold-out season of The Nutcracker over the Christmas holidays, Cape Town City Ballet’s (CTCB) Giselle comes to the Artscape Theatre in March. The exquisite ballet forms part of the company’s Summer Season programme that includes Dane Hurst’s Requiem and the pas de dix from Raymonda set to Glazunov's glorious score. The highly anticipated production promises to enchant audiences with exquisite choreography, hauntingly beautiful music and a poignant tale of love, betrayal, and redemption. With choreography and staging by Artistic Manager Tracy Li, a former CTCB ballerina herself, Giselle is set to Adolphe Adam’s evocative score that will be played by the UCT Symphony Orchestra at five of the seven performances, under the baton of Brandon Phillips. The CTCB company will be led by principals…

THE Soweto Derby, pitting two giants of South African football – Kaizer Chiefs and Orlando Pirates – against each other, has long been more than just a game. It is a cultural phenomenon, a clash reverberating far beyond the confines of the football pitch. Every time the two sides meet, stadiums explode with passion, loyalty, and, at times, tension that mirrors the socio-political landscape of South Africa itself. But does this storied encounter still hold the same weight in the modern era of football, or is it merely a relic of a bygone age? The game of football has long been understood to be about the supporters that watch closely, whether at the stadium or on television every week, and this was made even more clearer during the COVID-19 pandemic.…

After coming from behind to register a 2-1 victory against Motsepe Foundation Championship side Kruger United in the Nedbank Cup last 32, the question that became apparent is: are Stellenbosch FC coping with competing on multiple fronts? The Stellies v Kruger clash was one of three matches that took place on Tuesday night. In the other two encounters, SuperSport United defeated Magesi FC 2-0, and AmaZulu FC smacked Mighty Eagles 5-1 in Umlazi. Even though the Cape Town side won 2-1, advancing to the last 16 round, they struggled on the night at the Danie Craven Stadium. Kruger opened the scoring with a goal from Onyedikachi Ononogbu in the 54th minute. The Maroons, buoyant after their 5-0 thrashing of AmaZulu last week, had to dig deep on Tuesday – so…

The latest preliminary report from the Crop Estimates Committee (CEC), released on Tuesday has raised concerns for some summer crops, particularly wheat and barley, which are forecast to yield less than last season. However, farmers and industry experts cautioned that it was still premature to predict the outcome of the season, emphasising that the forthcoming month of rains will be pivotal for crop viability. According to the CEC’s report, expected production for wheat has been slightly downgraded to 1.925 million tons, reflecting a decrease of 0.52% or 10 100 tons from the previous estimate of 1.935 million tons. The Western Cape, a crucial region for wheat farming, anticipates a yield of 1.067 million tons, which is a 1.69% drop, equating to 18 400 tons less than predicted earlier. For canola,…

In 2024, more than 1 400 South African businesses entered liquidation, including The Cross Trainer, due to mounting financial pressure. Professor Waldo Krugell, an economist at North-West University, pinpointed the impact that high inflation, increasing interest rates, and the energy crisis had on consumer spending over several years as a driving factor behind the closure of many of these businesses and particularly those in retail. It would be easy to blame the economic challenges but I’m sure if we dig a little deeper, we will see that some of these businesses lacked financial resilience. Small and medium enterprises (SMEs), especially, need to ensure they plan for times of higher expenses or reduced income as we’ve just experienced these last few years when consumers tightened their belts and reduced non-essential spending.…

The family of SANDF soldier Matome Justice Malesa had been eagerly awaiting his return to celebrate his birthday next month but now they are in mourning. Malesa was among the 13 soldiers killed in the Democratic Republic of the Congo in the past week. “We hoped that next month, on February 25, we would celebrate his birthday with him, as we did not celebrate Christmas and New Year's Eve with him,” said family spokesperson Mpho Monyela. He added that it was to be a poignant celebration as Malesa was set to be home permanently after serving two decades in the SANDF. Malesa, a devoted father of three, was among the SANDF soldiers killed in a two-day clash with the M23 rebel group near the city of Goma last week. Originally…

Joburg Super Kings coach Stephen Fleming believes his team’s quest to reach a SA20 playoff spot has now become a “mental” challenge. The Super Kings were primed to book a spot in the knockout stages prior to meeting a revamped Pretoria Capitals side at Centurion on Tuesday evening. A victory would have ensured JSK’s qualification, but instead, the Capitals reversed the result with a bonus-point win that kept the highveld rivals very much in the reckoning for the next round. The Super Kings don’t have any time to over analyse the blow-out which saw them reach just 99/9 in their allotted 20 overs, with league leaders Paarl Royals waiting in the wings for the next encounter this evening at the Wanderers (5.30pm start). With such a short turnaround, Fleming and…

The International Cricket Council (ICC) recently named their Test Team of the Year. There was not a single South African in the XI, despite the Proteas topping the ICC World Test Championship table and being the first team to qualify for the final at Lord’s later this year. While the Proteas’ march to the ‘Home of Cricket’ has been built on the collective rather than the individual, the omission of Temba Bavuma and Kagiso Rabada left me flabbergasted. The judging process involves an independent global voting panel – which incidentally I am a part of – and fans from around the world. My feeling is that the minimal Test cricket which the Proteas play, which of course is none of the players’ fault, has once again played a pivotal role…

While only nine points separate positions three to 12 on the United Rugby Championship log, the Stormers (12th) and Lions (13th) will venture into dangerous territory if they can’t pick up any wins in their local derbies over the next two months. Currently, the Bulls (third) and Sharks (fourth) are cruising in home playoff spots, but the other two South African franchises’ hopes are dwindling after recent losses. And things are only going to get tougher as the desperation fuels them when they get their campaigns back under way. The only teams in action next weekend will be the Stormers and the Jake White-coached Bulls, who will complete their Round 1 duel after a postponement due to the Currie Cup final overlapping with the URC start. It is the perfect…