Indholdsfortegnelse for 2025-03-31 i Mercury

ArcelorMittal South Africa (AMSA), which is in dire financial straits, has welcomed the International Trade Administration Commission of South Africa’s (ITAC) review of the steel industry tariff review. The ITAC review could be a lifeline for the company if additional import tariffs are imposed. AMSA, which has been in existence since 1928 having started out as government-owned Iscor, is in favour of localisation and domestic supply. The biggest steel producer in sub-Saharan Africa announced late last year that it was looking into closing its long-steel business in Newcastle and Vereeniging. This placed about 3 000 people at risk of losing their jobs and spurred government to help bail the company out. So far, government has extended some R1.8 billion to partially bail the company out on condition that AMSA participates…

The latest Policy Uncertainty Index (PUI) from North West University (NWU), released on Friday, painted a grim picture of South Africa’s economic landscape, with the index plummeting further into negative territory to a staggering 78.6 for the first quarter of 2025, up from 65.7 in the preceding quarter. This increase marked the highest level of uncertainty recorded since the PUI’s inception in early 2016, signalling alarming implications for business confidence and investment environments in the country. NWU Business School economist, Professor Raymond Parsons, noted that the persistent negative factors outweighing positive ones were indicative of broader economic turbulence. “Persistent negative factors again outweighed positive ones. This was the net outcome of the PUI’s calibration of both positive and negative factors influencing the level of policy uncertainty in South Africa in…

The South African telecommunications sector has long been considered a defensive play, offering relative stability through economic cycles due to its critical infrastructure role and dependable cash flow generation. Despite macroeconomic headwinds, regulatory pressures, and currency volatility in recent years, telcos have continued to provide essential services with relatively low churn. Following a challenging period marked by rising input costs, constrained consumer wallets, and volatile African markets, sentiment is beginning to improve. Currency stabilisation, pricing momentum, and operational efficiency are laying the groundwork for cautious optimism across the sector. Vodacom: Egypt Stabilising, Local Market Rational – but Limited Upside. Vodacom enters 2025 with a more balanced geographic exposure, thanks in part to its acquisition of a 55% stake in Vodafone Egypt. While this market was initially challenged by currency devaluations…

Gold recorded a new record level of $3 085 in intra-day trade on Friday. Analysts like Goldman see the price for bullion at $3 450 over the next 12 months. The ongoing Trump-led tariff war with the rest of the world is expected to drive up global inflation and weigh on risky assets like equities, reinforcing gold’s role as a safe haven for investors. The possible break in the Government of National Unity, given the stalemate position on the national government’s Budget, has put the Rand exchange rate under pressure, as the currency closed Friday on R18.44 to the dollar (22 cents weaker for the week), R19.96 against the euro (16c weaker), and depreciated during the week with 34c to R23.88 against the pound. The JSE All Share Index enjoyed…

Private healthcare provider Netcare’s total paid patient days (PPD) are expected to increase by only 1.1% for the first six months of its 2025 financial year due to the timing of the Easter holidays, which will slow activity levels. It’s directors said in a trading update Friday that activity was influenced by the timing of Easter and school holidays. This year the holidays fall in April 2025, as compared to March 2024. As a result, activity was expected to slow down in April 2025. Notwithstanding the seasonal factors, they said the group was on track to meet guidance, including that revenue would grow by between 5% and 6% for the financial year, while PPD was expected to increase by between 0.8% and 1.3%. PPD for the acute hospitals was expected…

If you’re tired of swiping left or right on dating apps, you might want to slip into a pair of comfy shoes and join a running club because that is where more and more people are looking for love. People have become bored and frustrated with dating apps and having to make awkward small talk over drinks and not getting any closer to meeting their ideal partners. With dating apps, all you have to go on is a few profile pictures and a bio, which could be written with the help of ChatGPT, to decide if you want to connect with that person. Then, after a few messages, you might find yourself sitting across from a stranger at a bar, trying to figure out if they’re as fun in real…

THE sugar industry in KwaZulu-Natal is facing a serious crisis, with the provincial government warning that the sector is teetering on the verge of collapse. The alarm bells were sounded by the Department of Economic Development, Tourism and Environmental Affairs (Edtea) during a briefing before the Edtea Portfolio Committee about the serious challenges the industry faces. The industry has been battling for several years due to imports and the sugar tax. Head of Department Nhlakanipho Nkontwana said, “The challenges that we have in the province indicate that the sugar industry is on the verge of collapse. We had a discussion with the industry not long ago. Most areas where there was sugar cane have been taken over by the property industry. If you go towards the north, that is where…

The waning ANC support and the inclusion of the DA in the ANC’s Government of National Unity (GNU) are among the reported reasons behind the recent decision by the National Union of Mineworkers (NUM) to lend its support to the South African Communist Party (SACP) in the upcoming local government elections. Last week NUM held its National Political Council (NPC) at Emperors Palace where a resolution on the matter was canvassed. Acting secretary general of the NUM, Mpho Phakedi indicated that the resolution is still to be canvassed by the union’s regions. “As you might know how decision-making happens within union structures, this is not the final decision but came as a result of the festival of ideas during our National Political Council where those who form council…

Deputy Minister of Higher Education and Training, Dr Mimmy Gondwe, is on a two-day oversight to clamp down on the bogus colleges in KwaZulu-Natal. Gondwe said bogus colleges are robbing young people of their future as students end up with qualifications from unregistered institutions of higher learning which impacts them when searching for employment. Gondwe conducted an oversight visit in Durban as she said KZN has the second largest student concentration after Gauteng. She said the city faces challenges such as the proliferation of unregistered private colleges in the inner city and registered private colleges that offer unaccredited programmes. “Some of the learners are the only hope for their families. Their parents invest in their education so that their child can be qualified and have a successful career tomorrow. Now,…

France striker Kylian Mbappe is on course to shatter the record for goals scored in a debut season for Real Madrid. He equalled Cristiano Ronaldo’s 33-goal first-season haul for Los Blancos in 2009/10 with a brace in the 3-2 victory over Leganes at the Bernabeu on Saturday. The France international made the breakthrough with a Panenka from the penalty spot, before scoring a well-worked free-kick to secure a vital three points for Carlo Ancelotti’s side in the Spanish capital. The lethal marksman has now set his sights on Ivan Zamarano’s top tally of 37 goals in 45 matches during his first season for Real Madrid in 1992/93. Madrid’s win drew them level on 63 points with Barcelona from 29 La Liga matches but they had played one game more. The…

Boland foiled neighbours’ Western Province’s bid to push for an outright victory at Newlands yesterday. Province had posted a massive 592/8 in their first innings before dismissing Boland for 318. But with Province’s bowlers toiling for 109 overs, the home team opted not to enforce the follow-on and added a quick-fire 106/2 in just 19 overs to set Boland 380 victory on the final day. Justin Ontong’s side lost Pieter Malan (8) and Gavin Kaplan (26) early in the reply to Mihlali Mpongwana and Jody Lawrence respectively to provide Province with hope that they could possibly force a result. However, their chances were dimmed when Grant Roelofsen (92) and Aviwe Mgijima combined for a solid 126-run third wicket partnership. Roelofsen controlled the Boland innings and seemed well set for his…

John Dobson’s biggest headache over the next four games in the United Rugby Championship (URC) will be how to fit all his trump cards into one hand as his side pushes for a playoff place in the competition. They will play their final round-robin matches all at home, and while they are outside of the top eight following a 38-34 loss to Ulster in Belfast this past Friday, they will know precisely what is needed to make the playoffs. The Stormers, currently 10th, will face Connacht, Benneton, the Dragons and Cardiff at the DHL Stadium and all four games are winnable with a full house of points. Director of rugby Dobson must only figure out over the next couple of weeks what his team selections will look like as they…

Standard Bank Group CEO Sim Tshabalala’s single figure remuneration increased 7.1% to R89.22 million in the year to December 31, while that of his former deputy CEO Kenny Fihla, who this month announced his resignation to become CEO of Absa, fell by 3.7% to R67.29m. According to the remuneration report of Africa’s biggest bank by assets, released on Friday, Fihla’s cost-to-company was increased to R9.5m from R8.7m on September 1, 2024 following his appointment as deputy CEO of the group. His 2024 short-term incentive award reflected both his role as Corporate and Investment Banking CEO until August 2024, and his role as deputy CEO of the group from September 2024. Tshabalala’s total single figure was 8.3% short of the maximum payable under the performance parameters of the group’s remuneration policy…

The Minerals Council of South Africa has remained confident that the mining industry was firmly on the path to Zero Harm after recording a historic low of 42 deaths in 2024, a 24% decrease from 55 in the previous year. This marked a significant milestone in the industry’s quest to ensure safe mining practices and highlighted a commendable reduction in workplace fatalities while recorded injuries fell to 1 841, reflecting a 16% drop from 2023. Minerals Council CEO, Mzila Mthenjane, said this showcased that the industry was on a definitive path towards achieving its goal of Zero Harm—ensuring every employee returns home safely and in good health. However, Mthenjane emphasised that falls of ground remained the highest risk of all underground mines and management of these incidents remained a critical…

Workers cannot afford for Parliament not to pass a progressive Budget. Whilst there have been previous minor delays in the formal passing of budgetary legislation, South Africa has never ventured into the current impasse where society and government are not sure when and in what form the Budget will be passed. The National Assembly is scheduled to vote on the Fiscal Framework and Revenue Proposals, the key foundations for the Budget, on April 2 with the remaining legislative components to be adopted afterwards. The law provides various provisions in the event of further delays to adopting the Budget, including a prohibition on new expenditure items and an expenditure restriction for a limited period of time to 45% of previously approved allocations. This would mean new relief items contained in the…

MultiChoice, the entertainment company, cautioned on Friday that its financial results for the year ending March 31, 2025, will likely reflect ongoing economic challenges, including a cost-of-living crisis and currency depreciation across key markets. The group, which operates in South Africa and the broader African continent, said in a voluntary operational update that household spending remains under strain due to high inflation and elevated interest rates. This follows its interim results for the period ended September 30, 2024, released in November, which highlighted a tough consumer environment and "unprecedented external adversities" such as disrupted power supply and macro-economic headwinds. "Since then, the group has continued to experience pressure, as household spending remained constrained," MultiChoice stated, noting that these factors, combined with increased investment in its streaming services, are expected to…

In our fast-paced world, home cooks are always on the lookout for tricks that can save time in the kitchen. Recently, an expert technique for peeling boiled eggs has taken the social media landscape by storm, especially appealing to egg enthusiasts who have grappled with the age-old frustration of stubborn eggshells. With the popularity of boiled eggs experiencing yet another surge, overcoming the irritation of clingy shells has brought this clever solution into the spotlight. The viral discovery was highlighted by physiotherapist Pedro Baptista in an Instagram video, revealing a technique that many are dubbing a culinary game-changer. The video shows a woman boiling a few eggs but adding a slice of lemon to the pot. The overlay text reads: “Did you know peeling eggs could be this easy?” The…

Police Minister Senzo Mchunu and SAPS have sought to reassure the public that they are handling the rape of a 7-year-old child at an independent school in the Eastern Cape with the utmost seriousness. Civil organisation, Not In My Name International, and the uMkhonto weSizwe (MK) Youth League are two of a growing number of groups speaking out following the rape. The girl was allegedly attacked on the school premises while waiting for scholar transport. The incident was reported to police in October last year, but no arrests were made. Not In My Name International’s secretary-general, Themba Masango, has called the incident an abhorrent crime that demands immediate action. “Law enforcement must prioritise this case urgently, ensuring a trauma-informed approach to avoid re-victimisation. Specialised child protection units should lead the…

In what would come as a relief to the embattled Ithala bank, the Minister of Finance Enoch Godongwana has confirmed that he is working on providing the bank with a guarantee to protect the depositors. In a written response, the Ministry said although the minister has not provided a new guarantee to Ithala, he is working on providing it, adding that the minister has communicated the National Treasury’s commitment to ensuring that Ithala Bank’s depositors will not lose their deposits as a result of the liquidation application and the closure of Ithala’s depositor accounts. “This assurance is consistent with actions previously taken by the National Treasury in relation to bank failures, and subsequent protections provided through the deposit guarantee scheme. As previously done, the Minister of Finance plans to provide…

A MAN who suffered severe brain injuries when he was pushed out of a moving train is set to receive R6.1 million in damages from the Passenger Rail Agency of SA (Prasa). The Western Cape High Court awarded this amount after hearing the evidence of a host of medical experts regarding the injuries suffered by the patient. A legal guardian was appointed to represent the 41-year-old patient. The court earlier heard that he fell in September 2017 after being pushed through the open doors of a train at Stikland Station in the Western Cape. The rail agency has accepted 80% liability for the patient’s proven damages. The court now dealt with the quantification of the claim. The patient suffered severe brain damage after he struck his head on the station…

Manchester City came from behind to reach the FA Cup semi-finals with a 2-1 win over Bournemouth yesterday, but victory came at a cost as Erling Haaland hobbled off injured. Haaland had seen a first-half penalty saved before Evanilson put the Cherries in front. The Norwegian made amends by equalising four minutes into the second period before being forced off with an ankle injury. His replacement, Omar Marmoush, took just two minutes to score the winner from a second assist by the impressive Nico O’Reilly. City will face Nottingham Forest in the last four after reaching the semi-finals for a record seventh consecutive season. Pep Guardiola said even FA Cup glory would not save a miserable season for the English champions with this competition their final shot at winning a…

The Lions were almost literally blown away in Glasgow on Saturday but the conditions were the same for both teams and coach Ivan van Rooyen regrets his team’s inability to adapt. In the first half, Glasgow played with the gale force wind at their backs and scored six tries without reply. The half time score of 42-0 would be the full-time score as the Lions could not take advantage of the wind when they had it. “It was probably the worst weather conditions we have ever played or trained in,” Van Rooyen said. “At stages the wind was up to 80km/h. “They utilised the wind well in the first half and we could not do the same in the second half. They delivered an attacking master class in that first…

AmaZulu coach Arthur Zwane says his troops need to change their mentality, if they are to consolidate their Top 8 spot or achieve their main target. Usuthu are currently on a low, having lost their last three games in the Betway Premiership, including a 2-1 defeat to Chippa United on Saturday. This poor run of form has cast doubt over their Top 8 aspirations, as they are seventh on the log with 30 points, just two ahead of Chippa, who are in ninth place. Usuthu have only seven games remaining before the end of their league season, and that’s why Zwane knows they can’t afford to falter going forward. “We are in the Top 8 already – we just have to consolidate our spot. We were supposed to beat Chippa…

Unless the ANC embraces coalition governance fully, fiscal consolidation will remain out of reach, says curency strategist Andre Cilliers The rand fell by nearly 1% to R18.40 against the US dollar over the course of last week as market concerns continued over the National Budget deadlock and whether parties in Parliament will reach consensus before the Wednesday deadline. Parties within the Government of National Unity (GNU) are divided on whether to support Finance Minister Enoch Godongwana’s proposal to increase value-added tax incrementally by 1 percentage point over the next two fiscal years to plug the R58 billion Budget shortfall. Moody’s Investor Services has already fired a warning shot, saying that if the budget fails to pass in Parliament, longer-term fiscal credibility could be at risk. On the political front, the…

"April is the cruellest month, breeding / Lilacs out of the dead land, mixing / Memory and desire, stirring / Dull roots with spring rain." — T.S. Eliot, The Waste Land (1922) T.S. Eliot’s 'April is the cruellest month' unfortunately rings true for South Africa in 2025 — not as a hopeful spring, but as we face unprecedented, unpalatable economic challenges, none of which are easy. This Wednesday, as South Africa moves into April, brings to the table a critical Budget vote, US President Donald Trump’s tariff deadline, and uncertainty over a new US Ambassador to our sunny shores. It’s a gauntlet demanding sharp focus from businesses and policymakers. Parliament will soon vote on Finance Minister Enoch Godongwana’s controversial revised Budget, now mired in Government of National Unity (GNU) discord.…

South Africa at 30 reminds me of the discussion I held with the late Dr Vuyo Mahlathi in 2018. Among other achievements, Mahlati was the president of the African Farmers Association of SA, a member of South Africa’s National Planning Commission and chaired the Presidential Advisory Panel on Land Reform and Agriculture. The discussion was about Msinga, a village in KwaZulu-Natal. The story of South Africa at 30 is captured in Genesis 41:1-57, where Pharaoh had two dreams. In one dream, seven fattened cows emerged from the Nile, only to be replaced by seven lean ones. The second dream featured seven plump heads of wheat followed by seven undernourished ones. Pharaoh asked Joseph to interpret these dreams. Joseph told Pharaoh, “Your Majesty, seven years of pestilence and hunger will follow…

Novus Holdings, a printing and packaging firm, said on Friday it will urgently appeal a decision by the Takeover Regulation Panel (TRP) to withdraw approval of its firm intention announcement (FIA) for a mandatory offer to buy shares in technology distributor Mustek Limited. The TRP had initially approved the FIA on November 15, 2024, but reversed its stance, prompting Novus to criticise the move as "improper." The regulator has directed Novus to issue a revised announcement within 20 business days, a development the company said could cause "unfortunate impact and confusion" for shareholders. "Novus intends to appeal against the aforesaid ruling of the TRP on an urgent basis," the company stated, adding that it "remains fully committed to the mandatory offer process and implementation thereof in accordance with its obligations."…

Investment holding group Rex Trueform passed the dividend after subdued sales at its clothing stores and headline earnings per share fell 3% to 97 cents in the six months to December 31. The group, which has more than 100 retail stores among its investments, on Friday reported a 4.5% decline in revenue to R458.1 million, while the gross profit margin appreciated to 52.4% from 46.5%. The operating profit increased 9.6% to R45.4m. Net asset value increased 3.3% to R21.17. The thinly traded share price was unchanged at R11.27 on Friday afternoon on the JSE. CEO and significant shareholder Marcel Golding said in the results announcement that South Africa’s economic growth is forecasted to be 1% for 2025, an improvement on 2024, but still well below the desired growth levels, with…

THE South African government has sent its ambassador to Thailand, Darkey Ephraim Africa, to assist the country’s citizens stuck in Myanmar, following an earthquake that has left over a thousand people dead. Chrispin Phiri, spokesperson for the Department of International Relations and Co-operation (Dirco) said they accredited Africa because South Africa does not have a mission in Myanmar. He said Myanmar was a state that they did not recognise because its government was a military junta. He added that engaging the Myanmar government and processing the information about South Africans, who may be affected by the earthquake, was complicated. “We rely on Thailand authorities to keep us informed about happenings on that side, and South Africans as well. And if they don’t do so, it really makes it very difficult…

Former president Thabo Mbeki said he was not surprised that Ebrahim Rasool, the former ambassador to the US, was expelled by the Trump administration. Speaking to Unisa students in Pretoria on Friday, Mbeki said: “The post of ambassador has particular restrictions, conventions which govern the behaviour of diplomats. “Ebrahim Rasool is an old friend and comrade of mine. But I think in this instance, he made a mistake and said things about his host president that he should not have said. “When I saw this and I saw the persona non grata, I was not surprised,” Mbeki said. Rasool returned to Cape Town on March 23, after US Secretary of State Marco Rubio expelled him from the US, declaring him “persona non grata” following his comments made in a webinar,…

Close to R900 million in conditional grants to municipalities in KwaZulu-Natal has been suspended by the National Treasury due to poor management of these grants. Finance MEC Francois Rodgers has announced the National Treasury’s suspension of conditional grants to 25 municipalities in the province. Rodgers stated that the flow of conditional grant funding amounting to R861.4 million from the National Treasury to these municipalities has been suspended due to non-performance. Earlier this month the Auditor-General raised concern about the financial performance of some KZN municipalities. On the grant suspension, Rodgers said his department will comply with the directive from Finance Minister Enoch Godongwana. Assessments involving provincial and national Treasury officials have found that the affected municipalities performed dismally against the objectives and goals set out in various programmes, including: Energy…

Mexican Formula 1 driver Sergio Perez is on Cadillac’s recruitment list for their debut season next year, according to multiple F1 sources. ‘Checo’ was sacked by Red Bull at the end of last season to make way for Liam Lawson but the 35-year-old may just be making his return to the paddock. Although it has not been confirmed by neither Cadillac nor Perez’s management team, the American car manufacturer’s X page has been abuzz with Checo’s face. Around a year ago, Christian Horner and Red Bull looked dead set on replacing Perez with their younger driver Lawson. Both drivers also got into a heated relationship towards the end of the season, even going to the point of Lawson showing Perez the middle finger after overtaking him during a race. Following…

Vice-captain Faf du Plessis top-scored with a delightful 27-ball fifty as an all-round Delhi Capitals trounced Sunrisers Hyderabad by seven wickets to remain unbeaten in IPL 2025 at the Dr YS Rajasekhara Reddy ACA-VDCA Cricket Stadium in Visakhapatnam. After Mitchell Starc’s incredible 5-35 and Kuldeep Yadav’s 3-22 helped DC bowl out SRH for 163 in 18.4 overs, du Plessis was at his glorious best, hitting three fours and as many sixes in his solid half-century, which came at a strike rate of 185.19. He was well supported by Jake Fraser-McGurk (38), KL Rahul (15), Abishek Porel (34*), and Tristan Stubbs (21*), as DC completed the chase with four overs to spare. For SRH, debutant leg-spinner Zeeshan Ansari shone with 3-42 in his four overs. Chasing 164, Fraser-McGurk began by slog-sweeping…

Coach Jake White was delighted with how the Bulls scored nine tries against Zebre, but wants to see “knockout rugby” on the upcoming tour of Europe. The Pretoria side varied their play cleverly – with flyhalf Keagan Johannes to the fore in a Player-of-the-Match performance – in dismantling a stubborn Zebre 63-24 at Loftus Versfeld on Saturday, where even a second-half fight-back from the Italian outfit was quickly crushed. The men from Parma reduced the lead to 35-24 through hooker Tommaso di Bartolomeo’s try, but then the Bulls dominated the final quarter through touchdowns by Marco van Staden, Marcell Coetzee and others to finish the game in style. But while they remained in third spot on the United Rugby Championship log – after Glasgow thrashed the Lions 42-0 on Saturday…

Kaizer Chiefs head coach Nabi Nasreddine has appealed to supporters to refrain from directing their frustrations at the players, following a disappointing loss to Golden Arrows at Moses Mabhida Stadium on Saturday. The defeat to Abafana Besthende was the Glamour Boys’ 10th loss of the season in the Betway Premiership, leaving them eighth on the log with 29 points from 23 matches. Goals from Nduduzo Sibiya and Knox Mutizwa secured all three points for Arrows, while Yusuf Maart’s solitary strike for Chiefs was not enough to salvage a point. With boos ringing out after Maart’s missed penalty, Nasreddine took the opportunity to call for a calm and measured response, urging fans to place criticism on him, not the players. “Don’t panic please, and don’t attack the players – I offer…