Indholdsfortegnelse for 2025-04-29 i Mercury

The Prudential Authority (PA) has taken decisive action against Absa Bank, imposing administrative sanctions totalling R10 million following an inspection in 2022. This enforcement is part of the authority's ongoing mandate to ensure accountable institutions adhere to the Financial Intelligence Centre Act (FIC Act) of 2001. The PA on Friday said that the sanctions arose from serious breaches regarding compliance with customer due diligence regulations aimed at preventing financial crime. During its investigation, the PA identified significant shortfalls in Absa's adherence to essential provisions of the FIC Act. The violations included inadequate customer due diligence practices on certain client files, particularly concerning foreign prominent public officials (FPPOs) and politically exposed persons (PEPs) associated with state-owned enterprises. Specifically, the bank failed to conduct thorough reviews on four FPPO files and…

The renewable energy sector in South Africa faces potential upheaval as the International Trade Administration Commission (ITAC) reviews 82 tariff codes, a move which has been flagged by industry experts as having more penalties than incentives. As various stakeholders await the final review, expected by the end of the year, the implications of the proposed changes could reshape the landscape for manufacturers and importers in the renewable energy value chain. XA Global Trade Advisors CEO Donald Mackay on Friday the review looked to increase tariffs on 82 tariff codes in the renewable energy value chain, which was a really big deal. “I am not proposing for a second ITAC. It will automatically increase tariffs on everything. But if they were to increase it to the rate they want to take…

Tongaat Hulett is unquestionably one of South Africa’s most vital sugar producers. Tongaat Hulett continues to operate effectively and is firmly on the road to recovery in anticipation of the successful implementation of its business rescue plan. Business rescue is, by nature, a complex process that requires a careful balancing of competing interests while providing a lifeline to companies teetering on the brink of collapse. In the case of Tongaat Hulett, this lifeline has not only sustained the business and those who rely on it but also positioned the company to play a crucial role in securing the long-term sustainability of the sugar industry. This achievement is even more remarkable considering the company’s dire situation just three years ago, when it lost R12 billion in value due to…

In the wake of last week's alarming report from Anthropic—the AI safety company founded by former OpenAI researchers and creators of Claude, a leading AI assistant competing with ChatGPT—I find myself increasingly concerned about our collective capacity for discernment in this accelerating AI era. And this comes from someone who considers Claude his favourite AI tool, one that can positively augment all kinds of important work. The report by Anthropic researchers Ken Lebedev, Alex Moix and Jacob Klein reveals a disturbing evolution: a financially-motivated "influence-as-a-service" operation that leveraged Claude to orchestrate over 100 distinct social media personas across X and Facebook. This sophisticated network engaged with tens of thousands of authentic users while promoting narratives that, among other things, "supported or undermined European, Iranian, UAE, and Kenyan interests." Slow-burn manipulation…

EFF President Julius Malema has joined the chorus calling for Finance Minister Enoch Godongwana and his Director-General, Duncan Pieterse, to resign over the VAT battle. The Red Berets leader made the call after the Western Cape High Court’s full bench set aside the adopted 2025 Fiscal Framework and Revenue Proposals and suspended the implementation of the 0.5 percentage point VAT increase which was set to come into effect on May 1. The EFF and the DA had approached the court to have the VAT increase announcement by Godongwana as well the adoption of the finance committees’ report by both Houses set aside. After the matter was argued, the finance minister announced that the VAT increase would not be implemented. However, the DA said the court must specifically issue an order…

ACTING President Gwede Mantashe has used his Freedom Day speech to warn against the exploitation of “apartheid wounds” to score political points. In his keynote address during the National Freedom Day celebration held at AJ Swanepoel Stadium in Ermelo, Mpumalanga, the Energy and Mineral Resources Minister warned against those seeking to rekindle racial bitterness. In February, AfriForum and Solidarity visited the US and reported that there were mass land grabs in South Africa after President Cyril Ramaphosa signed a land expropriation bill into law. During the visit, the groups asked US President Donald Trump to intensify pressure on ANC leaders to end discrimination against Afrikaners by, among other things, revising the “anti-Afrikaans” Bela Act and racial legislation. The organisations also wanted the Trump administration to act strongly against hate speech…

Despite a budget increase this financial year, thousands of school pupils in KwaZulu-Natal will still have to walk long distances to school due to inadequate funding for their scholar transport. The Department of Transport revealed that it will be able to transport about 77 000 pupils this financial year, while more than 150 000 pupils who need transport remain on the waiting list. While tabling his budget last week, MEC for Transport Siboniso Duma stated that there are ongoing engagements between the provincial and national governments to address this issue. “Our commitment to the Learner Transport Programme is a testament to our dedication to opening the doors of learning. This initiative not only provides practical solutions to transport challenges but also inspires hope for a better future among our learners…

An Egyptian hero and living legend in Liverpool, Mohamed Salah has burnished his remarkable legacy at Anfield with one of the great all-time individual seasons to deliver the Premier League title. The 32-year-old has scored 28 goals and provided 18 assists so far as Liverpool equalled Manchester United’s record of 20 English top-flight titles on Sunday. A third player of the year award from both his fellow players and football writers appears a formality, with Salah now firmly in the debate over who is the greatest player of the Premier League era. His combined total of 46 goals and assists is a new Premier League record for a 38-game season and the all-time mark of 47 looks likely to fall before the season is out. Salah’s tally of 185 goals…

No sooner had the final whistle sounded at Anfield, confirming Arne Slot’s historic title feat at Liverpool, did the doubters start trying to downplay the achievement. Koppites celebrated late into the night after the 5-1 win over Tottenham, painting the town red (Bok captain Siya Kolisi was part of the throng). But the debate has already started about where Slot’s triumph ranks among the great debut seasons by a Premier League manager. Dilly ding, dilly dong ‘Special One’ Jose Mourinho is thrown into the mix for his first-season heroics at Chelsea. Claudio Ranieri’s dilly ding, dilly dong season at Leicester is still the stuff of Foxes fairytales. While Slot’s championship pales in comparison to Leicester’s for shock value, no one also saw it coming. The Dutchman was supposed to struggle…

Fifa World Cup winner Bastian Schweinsteiger believes “the biggest superstar” in the UEFA Champions League at present is not a player, but in fact Paris St Germain manager Luis Enrique. The Spaniard has steered PSG to the UEFA Champions League semi-finals where they will face English Premier League outfit Arsenal in the first-leg at the Emirates Stadium on Tuesday evening (kickoff 9pm). PSG are aiming to reach a second-ever Champions League final after losing to Schweinsteiger’s former club Bayern Munich at the Estádio da Luz in Lisbon, Portugal back in 2020. The Parisian outfit have long sought European glory, having previously only won the UEFA Cup Winners' Cup in 1996 and the UEFA Intertoto Cup in 2001, despite boasting some of the world’s best players such as Argentine maestro Lionel…

IMF warning comes as South Africa is grappling with measures to raise revenue The International Monetary Fund (IMF) has warned that the spectre of escalating trade tensions, combined with rising financial costs in developed economies, will complicate the economic landscape for sub-Saharan Africa. IMF director of the African Department, Abebe Selassie, said on Friday the sentiment surrounding sub-Saharan Africa was cautiously optimistic six months ago, marked by the region's gradual recovery from the economic repercussions of past global upheavals. However, Selassie said a new wave of global policy uncertainty has emerged, posing serious threats to this fragile recovery just as policymakers began to see the fruits of their hard work. He said recent forecasts projected regional growth at a robust rate exceeding expectations, particularly for 2024 but external forces have…

South Africa’s consumers received a sliver of hope this week as Statistics South Africa (Stats SA) announced a significant drop in inflation from 3.2% to 2.7% in March, marking the lowest level seen in five years. While this decline was seen as a promising development, experts warned that many households were still grappling with rising costs that continue to exert pressure on their budgets. Neil Roets, CEO of Debt Rescue, welcomed the news, suggesting it might bolster the case for a potential interest rate cut. “This brings a glimmer of hope to struggling South African households and strengthens the case for a potential interest rate cut. Lower inflation reduces pressure on the Reserve Bank, and while a cautious approach is likely, we’re hopeful that rate relief will come before…

Intelligent driving features are the new battleground in China's merciless car market, with competition spurring brands to world-leading advances -- but a recent fatal crash has seen the government intervene to put the brakes on runaway enthusiasm. Advanced driver-assistance systems (ADAS) help with tasks ranging from cruise control to parking and collision avoidance, with the ultimate aim being a fully self-driving car. Automakers are pouring investment into their development, especially in the world's biggest car market China, which skews young and tech-savvy. "Ten years ago, only 15 percent of customers said they would change car because of an intelligent cockpit -- today it's 54 percent," Giovanni Lanfranchi of EV firm Zeekr said. Almost 60 percent of cars sold in China last year had level-two ADAS features -- where the driver…

Impala Platinum Holdings was one of the worst performers on the JSE on Thursday, following a production report that revealed a 5% decrease in its 6E Group production volumes to 2.60 million due to operational challenges and maintenance. The share price dropped 6.20% to R110.14 on Thursday, although it remains higher than R59.70 a year ago. The report indicated that managed volumes of the six platinum group metals—platinum, palladium, rhodium, ruthenium, iridium, and gold—declined by 5% to 2.10 million. Joint venture (JV) production decreased by 2% to 430 000 ounces, while third-party receipts fell by 3% to to 144.000 ounces, compared to the previous year's production for the 9 months to March 31.. Despite these challenges, gross 6E refined and saleable production, as well as 6E sales volumes, increased by…

THE KwaZulu-Natal government has announced ambitious plans to attract international visitors to the region, including securing direct flights from key tourism and business destinations in Europe and Asia. MEC for Economic Development, Tourism and Environmental Affairs (Edtea) Musa Zondi said they are working to secure direct flights to Durban from France and the United Kingdom, among other priority destinations. He made these revelations while tabling his budget for the 2025-2026 financial year. He described the budget as rooted in urgency, guided by policy, and driven by delivery. According to Zondi, tourism is one of KZN’s greatest economic assets, and they are repositioning it not just as a sector but as a strategic pillar of economic recovery and regional development. “In 2024, the province welcomed 3.2 million domestic visitors and…

The Border Management Authority (BMA) has suspended two immigration officials who were among nine suspects arrested for allegedly being involved in corruption and for contravention of the Immigration Act. Mmemme Mogotsi of the BMA said the authority conducted an intelligence-driven operation at the Beitbridge Port of Entry last Tuesday. “The operation led to the arrest of two BMA immigration officials, five undocumented foreign nationals, and two suspected facilitators involved in the alleged unlawful entry of persons into the republic and contravention of the Immigration Act,” Mogotsi said. She said that during the operation, two BMA executives observed a white Mercedes-Benz taxi parked near a shop at the port. “Two BMA immigration officials, a 61-year-old female and a 44-year-old male, were seen engaging with the facilitator and subsequently allowing it to…

The KwaZulu-Natal Transport department has launched a R216 million War on Potholes campaign as it moves to address the deterioration of the province’s road network. The campaign was launched last week in Edendale, Pietermaritzburg, by Premier Thami Ntuli, MEC for Transport and Human Settlements Siboniso Duma, and uMgungundlovu District Mayor Mzi Zuma. MEC Duma said the initiative aimed to eliminate a backlog of 3.12 million square metres of potholes across the province. Residents of Waterfall, in Durban, recently took it upon themselves to warn motorists of potholes in their area. Fifty-five pothole-patching trucks have already been deployed, and more than 100 road worker aids and foremen have been appointed to support the campaign. The department will also appoint service providers under the rehabilitation and reseal programme to fast-track patching efforts.…

The Animal Welfare Society of South Africa has been inundated with emergency calls as its teams assist animals affected by the Table Mountain fires in Cape Town. Three separate fires ignited on Friday afternoon in the Lower and Upper Tokai areas of Table Mountain National Park. While two fires were contained overnight, the third remains active. “Our team has been dispatched this morning to continue offering assistance to any animals in need. Thank you to the brave firefighters who worked tirelessly through the night,” the Animal Welfare Society said. It also expressed sympathy for individuals who had to evacuate their homes, mentioning that they are caring for animals whose families needed help. City of Cape Town’s Fire and Rescue Services spokesperson Jermaine Carelse reported that four helicopters are water bombing…

South Africa’s United Rugby Championship (URC) teams bagged a full house of victories at the weekend and are sitting pretty as the tournament approaches the playoffs stage. The 16 teams have completed 16 of the 18 league rounds and after taking a break for this week’s Challenge and Champions Cup semi-finals, there will be a frantic fortnight of games before the top eight is settled and the quarter-finalists identified. The Bulls and Sharks are guaranteed quarter-final spots, and the Stormers are just about there, thanks to a strong surge up the table in recent weeks. The Lions ended a five-match losing streak by well beating Connacht at Ellis Park, but they might have left their push for the play-offs too late. They are in 13th position and technically could still…

Paris Saint-Germain’s chances of beating Arsenal and reaching the Uefa Champions League final may depend on Ousmane Dembele rediscovering the form in front of goal that made him Europe’s most lethal finisher in the first three months of this year. Dembele scored 25 goals in 20 games in all competitions for PSG between mid-December and mid-March, his statistics those of a player completely transformed as he was turned by coach Luis Enrique from a winger into a central striker. That included a goal against Liverpool at Anfield on the way to PSG winning their Champions League last-16 tie on penalties. A few days later the 27-year-old went away on international duty with France and since his return Dembele has lost his edge. The former Barcelona star, previously a thrilling winger…

Hundreds of companies are up in arms over a “mismanaged” audit process, worth R515 million, launched by the Department of Labour and Employment (DEL) to probe potential theft of benefits provided to workers across South Africa during Covid-19. The Temporary Employee Relief Scheme (TERS), administered by the Unemployment Insurance Fund (UIF), was implemented to assist employers to pay employees who were employed but not working because of the lockdown. The TERS program, administered by UIF, paid out R57 billion to 13.4 million workers through 1.1 million companies during the pandemic, according to minutes from a November 2021 Standing Committee on Public Accounts Parliamentary Committee Meeting. These benefits, research by UNU Wider states, saved at least two million jobs. However, Corruption Watch, summing up various investigations by law enforcement officials, stated…

Chinese equities entered 2025 with positive momentum. Years of policy overhangs were finally beginning to lift. The combination of renewed stimulus, stabilising property markets, and a tech-sector rebound had markets pricing in a turning point. That optimism was tested in March, when the United States imposed sweeping new tariffs on Chinese imports — with Beijing responding in kind. The tariff war rattled sentiment. But despite the trade war escalation, Foord remains cautiously optimistic. The Chinese policy stance has turned meaningfully pro-growth. Since September 2024, the Chinese government has rolled out significant fiscal and monetary support for the world’s second largest economy. The first quarter of 2025 saw record government bond issuance, targeted rate cuts, and renewed infrastructure investment — all designed to offset persistent domestic weakness and the growing drag…

Minister of International Relations and Cooperation, Ronald Lamola, has welcomed Tanzania’s decision to lift its recent import ban on South African agricultural products. Announced on Saturday, the resolution reflects the effective dialogue established between Lamola and his Tanzanian counterpart, highlighting the enduring strength of the relationship between the two nations. “We agreed to facilitate the resolution of all outstanding issues,” Lamola said. “This outcome demonstrates that the diplomatic route remains the most effective path to resolving challenges. Together, we prove that cooperation and mutual understanding can unlock shared opportunities.” The announcement comes as Tanzania commemorates its 61st anniversary of unification—a significant milestone celebrated on 26 April, the day in 1964 when Tanganyika and Zanzibar merged to form the United Republic of Tanzania. Lamola hailed this occasion as a “beacon of…

As governments around the world face increasingly sophisticated cyber threats, the need for robust cyber resilience is more urgent than ever. In South Africa, the public sector has become a prime target for cybercriminals, with an alarming 3,312 ransomware attacks recorded each week. This underscores the critical importance of strengthening cyber defences to safeguard sensitive data and ensure the uninterrupted delivery of essential services. The challenges are not insignificant. Government entities often rely on basic antivirus solutions that, while helpful, are no longer sufficient to defend against modern cyberattacks. As threat actors become more sophisticated, utilising AI-driven tools to orchestrate attacks, the public sector is finding itself increasingly vulnerable. However, with the right approach and technology, government institutions can overcome these challenges and significantly enhance their cyber resilience. The evolving…

The agricultural industry in South Africa has given mixed reactions to the reversal of the proposed 0.5 percentage points increas in the Value-Added Tax (VAT) by Finance Minister Enoch Godongwana that the proposed on Thursday. Francois Rossouw, CEO of Southern African Agri Initiative (Saai), on Friday said that the reversal of the proposed VAT increase was positive news for the agricultural sector and the consumers. “A VAT increase would have put additional financial pressure on farmers, particularly smaller-scale and emerging producers who are often not VAT-registered and therefore unable to reclaim increased input costs. It would also have negatively impacted consumer affordability of essential agricultural products,” he said. Rossouw added that while the VAT remaining at 15% would alleviate immediate cost pressures, the sector was still faing significant challenges, including…

The 2025 Cape Town International Jazz Festival (CTIJF) roared back to life in spectacular style, drawing around 24 000 music lovers over three days. The festivities kicked off with a vibrant free concert in the city centre on Thursday, followed by two electrifying performances at the Cape Town International Convention Centre on Friday and Saturday. The free concert left audiences thrilled with performances by The Ploemies, seasoned Cape Town DJ Eazy, along with the exuberant British-born, Cape Town-raised singer-songwriter Hannah Ray, the dynamic Andrea Fortuin, the much-loved Kwaito group TKZee, British acid jazz pioneers Incognito, and sensational singer Fancy Galada. It was a celebration of not just jazz but the diversity and creativity thriving within the South African music scene. The festival itself reaffirmed its place as one of the…

Former Kaizer Chiefs defender Fabian McCarthy believes leadership gaps and inconsistent performances are at the heart of the club’s defensive woes in what has been a turbulent 2024/25 Betway Premiership season. Chiefs’ defensive frailties were once again exposed over the weekend as they slumped to a 2-1 defeat against Marumo Gallants, a result that further dented their hopes of a strong finish this season. With that defeat, Amakhosi’s defensive record took another blow, pushing them into the unwanted position of being the third-highest conceding team in the Betway Premiership. Only Gallants (37) and AmaZulu (33) have allowed more goals, with Chiefs conceding 31 in their 26 outings. Despite numerous changes to the backline throughout the campaign, coach Nasreddine Nabi has struggled to find a solid defensive unit. He has rotated…

The South African Rugby Union (Saru) have reportedly changed their regulations around the number of foreign players permitted in local teams. The 14 provinces can now have five non-South African players when the previous total was just two. The likely reason is that local squads are increasingly stressed because of the volume of rugby played during a 12-month season. South African teams are not attractive to players from the northern hemisphere and Australasia because of the weak rand, but it is not the case for players from neighboring countries in Namibia and Zimbabwe, and further afield in Africa. As reported over the weekend, the amended Rule 27 was unanimously approved by Saru’s executive council. Provinces can now have five foreign players in their squad but only three can do duty…

Napoli coach Antonio Conte said it was time to savour the moment after his side went three points clear in the Serie A title race with victory against Torino on Sunday with the win also securing their return to Europe’s elite club competition. Two first-half goals from Scott McTominay helped Napoli to a 2-0 home success, sending them above defending champions Inter Milan in the standings after Simone Inzaghi’s side stumbled to a shock 1-0 home loss against AS Roma. “It’s not the first time we’re in the lead, we’ve been in the lead more than anyone else,” Conte said after the match. “However, there are fewer and fewer games and you can pay for any type of mistake in a big way. We are mathematically in the Uefa Champions…

As next month’s CAF Champions League final approaches, Mamelodi Sundowns’ supporters are not just optimistic – they are brimming with excitement. The prospect of lifting the prestigious trophy is tantalising, and the team has vowed to deliver a performance that will etch their name into the annals of African football history. In Friday night’s semi-final second leg against the mighty Al Ahly, Sundowns proved that under the guidance of a passionate coaching staff and with an inspired squad, they have evolved into a force no one can overlook – one of our key footy takeaways from the weekend. Third time’s a charm as Sundowns exorcise past traumas In hostile Cairo, Sundowns booked their third Champions League final appearance while stopping Al Ahly from reaching a sixth successive final. By reaching…