Indholdsfortegnelse for 2025-05-02 i Mercury

Steelmaker ArcelorMittal warned Wednesday that tariff uncertainty could cause further economic disruption as its global footprint helped it weather the turbulence in the first quarter. The Trump administration has slapped 25 percent tariffs on imports of aluminium and steel, but its wider tariff measures on its major trade partners -- many of them on hold as negotiations are under way -- threaten to stall global economic growth as both businesses and consumers hold back on purchases. "Heightened uncertainty around the terms of global trade is hurting business confidence and risks causing further economic disruption if not quickly resolved," ArcelorMittal's chief executive Aditya Mittal warned. However, the company beat analyst expectations by posting a net profit of $805 million in the first quarter, although that was a decline of 14 percent…

The revised budget includes processes as set out in the Money Bills and Related Matters Act Finance Minister Enoch Godongwana has assured the country the National Treasury has already commenced work on developing a new fiscal framework that will maintain the trajectory toward debt stabilisation. This is a crucial element in strengthening the country's public finances amidst deteriorating fiscus. In March, Treasury projected that gross debt-to-GDP will stabilise in at 76.2% of GDP in the 2025/25 fiscal year, compared with 76.1% in the 2024/25FY, before declining gradually thereafter. It comes after Godongwana decided to rescind his decision to implement a 0.5 percentage points increase in the value-added tax (VAT) following litigation. The VAT increase proposal was in a bid to raise about R60 billion for the fiscus, which is facing…

African countries have started a dialogue with major credit ratings agencies seeking a fair and just systematic ratings to their sovereign credit statuses in a bid to reshape the continent's financial landscape. This comes afte a pivotal dialogue convened in Washington, uniting African institutions and global credit rating agencies to explore the creation of a fair and inclusive credit rating ecosystem tailored for Africa amid rising market volatility and sovereign defaults. This engagement, which unfolded on the sidelines of the 2025 IMF–World Bank Spring Meetings, has marked a significant step toward addressing the myriad challenges faced by African economies in the global financial landscape. With South Africa chairing the G20 and the African Union expecting permanent status in 2025, the urgency for an African-led credit rating solution is more pressing…

South Africans in certain parts of the country are experiencing an icy spell which is projected to continue over the next few weeks. The South African Weather Service issued an Orange Level 5 Warning last week for severe thunderstorms across parts of Gauteng, Mpumalanga, and Limpopo. The icy weather is part of a powerful weather system called a ‘cut-off low’, which brings heavy rain, low temperatures, and snow in certain areas. Flooding and storms can cause significant damage to your home and belongings, so it is critical to ensure you are prepared. As winter approaches, it is critical to ensure that you are financially protected against the damage that can be done by severe weather systems such as this one. Having the right building, home, and car insurance in place…

MTN Nigeria Communications has reported a substantial increase in its subscriber base and an financial turnaround for the quarter ending March 31. The mobile network operator and biggest subsidiary of JSE-listed MTN Group added 3.2 million new subscribers, boosting its total subscriber count by 8.2% to reach 84.1 million in a period marked by economic challenges. Once jeopardised by macroeconomic policy shifts that led to the naira's substantial depreciation, MTN Nigeria’s latest results reveal a robust recovery. In a stark contrast to a taxed loss of N392.7 billion during the same period last year, the company announced a profit of N133.7bn, reflecting an ability to adapt and thrive amidst economic turbulence. “We reported a significant turnaround in our bottom line. This reflects the successful delivery of the five strategic priorities…

Jubilee Metals Group, the diversified metals recovery company with operations in South Arica and Zambia, said Wednesday that the trials of processing various high-grade copper ores at its Roan concentrator are nearing completion. The results from these trials will be used to select material for a long-term supply agreement, the company said in an update of its Zambia operations on the JSE’s news service. Finalisation of the trials on the various types of high-grade materials will be completed over the coming two weeks, which is critical to the selection of the optimal mix of high-grade copper materials. “The initial results have confirmed the potential for Roan to maintain a significant increase in copper production rate on the high-grade copper material, which supports the decision to transition Roan to this high-grade…

THE non-payment of school feeding scheme service providers has, once again, plunged the programme into crisis, leading them to threaten that pupils in KwaZulu-Natal will not have food when they return to school on Monday. Service providers told The Mercury yesterday that they have not been paid for the last two months, adding that sit-ins at various department offices in KZN will take place next week. The National School Nutrition Programme (NSNP) service provider association has stated that its members have no money to buy food, and barring urgent interventions by the weekend, most pupils will go without meals when they return to schools. They have not been paid for March and April. The department has acknowledged the challenge and revealed that it is working to address the matter of…

President Cyril Ramaphosa is set to establish a Judicial Commission of Inquiry to investigate whether attempts were made to obstruct the investigation or prosecution of apartheid-era crimes. Unresolved apartheid-era cases, referred by the Truth and Reconciliation Commission (TRC) to the National Prosecuting Authority (NPA), have long been a source of frustration for victims, their families, and human rights advocates. Earlier this year, a legal challenge was brought before the Gauteng High Court in Pretoria by survivors and relatives of victims of gross human rights violations under apartheid, along with the Foundation for Human Rights (FHR). The plaintiffs seek a high court declaration condemning the conduct of current government officials, including Ramaphosa, Justice and Constitutional Development Minister Mmamoloko Kubayi, Police Minister Senzo Mchunu, National Director of Public Prosecutions Shamila Batohi, and…

A 56-YEAR-OLD man was sentenced to two life terms by the High Court in Gqeberha for the abuse and exploitation of his daughter. The man was convicted of more than 700 charges of rape, sexual assault, sexual grooming, human trafficking, possession, production, and procurement of child sexual abuse content, as well as exposing minors and people with mental disabilities to such material. He was sentenced to an additional 3 713 years, however, the sentences will run concurrently with the life sentences. National Prosecuting Authority (NPA) regional spokesperson Luxolo Tyali said the acts were committed over many years, from 2015 to 2022, mostly at the man’s home in Jeffreys Bay. “The primary complainant, his biological daughter, was first exposed to pornography at the age of 10. As the abuse escalated, she…

A 38-year-old Mozambican woman was sentenced to 30 years’ imprisonment for the murder of three-year-old Melokuhle Ngwenya. Penina Felipe Sambo was sentenced by the Gauteng High Court, Pretoria, sitting in Benoni, this week. National Prosecuting Authority (NPA) spokesperson Lumka Mahanjana said Sambo pleaded guilty to killing the child in Ratanda on April 3, last year. On that day, Ngwenya went to Sambo’s home, ostensibly to buy sweets. After the purchase, she sat with Sambo on the couch. “After a few minutes, Sambo began to strangle her to death and thereafter threw her body into a recycling bin outside. When the child did not return home, her mother went to the police station and reported her missing. “Police went to Sambo’s place, where the child was last seen. After searching Sambo’s…

Kaizer Chiefs will be under immense pressure to deliver what may be their most pivotal result of an up-and-down season when they host arch-rivals Orlando Pirates at FNB Stadium on Saturday (3pm kick-off). Amakhosi are in danger of finishing outside the top eight for a second consecutive season, currently sitting ninth with 30 points – level with Chippa United, who still have a game in hand over the Soweto side. This will be the first of two Soweto Derbies between the sides, with a high-stakes Nedbank Cup final set for exactly a week after their league clash at Moses Mabhida Stadium – where more than just pride will be on the line, as both clubs are in desperate need of victories in both encounters. Nasreddine Nabi and his charges suffered…

THE importance of Kaizer Chiefs getting a positive result in tomorrow’s Soweto Derby against Orlando Pirates cannot be overestimated. Granted, the big one is next weekend’s Nedbank Cup final clash between the two clubs in Durban, which will be much more tangible for the Amakhosi, given they will have a trophy to show for their efforts should they dethrone the champions. But the value of securing three points in their home match at the FNB Stadium (3pm kick-off) would be massive for Chiefs as they look to avoid missing out on a top-eight finish two seasons in succession. Chiefs finished 10th last season, and are currently out of the top eight spots, with less than a handful of matches to go. It’s almost win or bust for the Amakhosi, and…

Electricity and Energy Minister Kgosientso Ramokgopa has put forth a bold proposal aimed at rethinking the global approach to energy finance. Speaking on the G20 Transition Working Group, Ramokgopa urged the Summit to consider practical frameworks for concessional financing, de-risking energy infrastructure, and unlocking transmission grids—all crucial enablers for fostering inclusive growth across the globe. Speaking at the second day of the G20 Electricity Energy Summit in Cape Town, which focused on global energy efficiency strategies and affordability challenges, Ramokgopa said these were not abstract goals but preconditions for energy justice. Ramokgopa said the G20 countries were the next frontier of opportunity, representing more than 85% of global GDP and nearly 80% of global emissions, which brought responsibility, not only to immediate constituencies, but to the billions of people whose…

The recent April 2025 Household Affordability Index released by the Pietermaritzburg Economic Justice and Dignity Group (PMBEJD) has revealed that the average cost of the Household Food Basket has increased by R90.94 (1.7%) from R5 329.36 in March to R5 420.30 in April. This increase has ignited concerns from various civil society organisations regarding the affordability of food amidst rising living costs. According to the PMBEJD, of the 44 foods tracked in the basket in April, 24 foods increased in price, and 20 foods decreased in price. Mervyn Abrahams, PMBEJD programme co-ordinator, said food affordability remained a pressing issue, particularly in light of the year-on-year comparison, where the Household Food Basket has risen by R83.99 (1.6%) since April 2024 Abrahams said the details of the increases were stark, with…

Datatec, the international information and communications technology (ICT) company, was admitted to the OTCQX trading platform in the US on Wednesday to broaden international investor access. The share opened at $2.25 on the OTCQX Market on Wednesday. The over-the-counter market in New York is a platform for companies listed on a qualified international exchange to provide transparent trading to US investors using a US Dollar quoted share price. On the JSE, Datatec's share price was up by 1.68% to R58.27 on Wednesday afternoon, a price that was 59% higher than a year previously. It enables companies to disseminate their home market reporting to make their information available in the US. To qualify for OTCQX, companies must meet high financial and reporting standards, follow best practice corporate governance, and demonstrate compliance…

Cybercrime has become the single biggest threat to businesses worldwide. According to the Allianz Risk Barometer 2025, cyber incidents — including ransomware attacks, data breaches and IT outages — are now the top global business risk, marking their fourth year at the top. A decade ago, only 12% of global respondents cited cyber as a major concern. In 2025, that number surged to 38%. Allianz noted, “Cyber is the top risk across North and South America, Europe, and Africa,” dominating industry concerns from aviation to legal services. More importantly, it now ranks as the number one risk in South Africa, overtaking long-standing issues like load shedding and political instability. This concern is not just theoretical Two recent, high-profile cyberattacks—one on mobile telecommunications provider Cell C and another on the South…

THE Umkhonto weSizwe Party (MKP) is on track to dominate other parties come the 2026 local government elections. That is the view expressed by the convener of the party in KwaZulu-Natal, Willies Mchunu, following another by-election win by the party on Wednesday at the Mandeni Local Municipality. The ward previously belonged to the ANC. “People have been failed by the ANC, and we are taking over where the ANC has failed. While we may have started a bit slow, we have now become unstoppable. There is no party that is going to stop us come the 2026 local government elections. “To date, we have won four by-elections on the trot, including in Richmond, Durban, and now in Emandeni. The people are seeing that the MKP is the party that is…

The music may have faded and the lights have dimmed on the Cape Town International Jazz Festival (CTIJF), but the energy is still pulsing through the city. With over 24 000 people in attendance, the Mother City was alive with music, connection, and culture – an unforgettable experience that left fans, artists, and industry leaders breathless. And just as the city starts to return to its usual tempo, espAfrika, the powerhouse organisers behind the festival, have announced the dates for next year’s festival – March 27 and 28, 2026. “This year’s festival was a labour of love, a celebration of resilience and a return to what we know Cape Town does best – host the world with style, sound and soul,” said Shaakirah Adams, the head of the Cape Town…

THE families of SANDF members deployed in the volatile eastern Democratic Republic of Congo (DRC) can expect their loved ones home soon as they have begun withdrawing from the mission. The phased process of recalling the SA troops and equipment got underway on Tuesday, the SANDF confirmed in a statement yesterday. South Africa lost 14 soldiers when M23 rebels, with the backing of DRC neighbours Rwanda, launched an attack in efforts to capture some of the strategic towns including an airport in Goma, eastern DRC. The M23’s capture of key cities, including Goma and Bukavu, has disrupted humanitarian efforts and heightened the urgency for troop withdrawal. The SANDF were deployed as part of the Southern African Development Community Mission in the DRC (SAMIDRC). The SANDF said yesterday the withdrawal was…

Orlando Pirates right back Bandile Shandu stood on business when he previewed tomorrow’s Soweto derby clash against arch-rivals Kaizer Chiefs (3pm kick-off). Deep in the bowels of The Venue in Melrose Arch on Thursday afternoon, Shandu evaded all personal questions as he answered about the derby. The media hounds didn’t only try to squeeze answers out of him on how he feels about being back on the field after a lengthy injury, but about the team’s recent losses as well. Pirates crashed out of the CAF Champions League semi-final after losing 3-2 on aggregate to Pyramids, with all the goals coming in the second leg in Cairo last Friday. And as if things couldn’t get worse, they lost 1-0 in the follow-up clash in the Premiership to Sekhukhune United at…

Orlando Pirates will enter the highly anticipated Soweto derby against Kaizer Chiefs at FNB Stadium tomorrow (3pm kick-off) in an unfamiliar position, having suffered two damaging defeats – first in the CAF Champions League and then a league loss to Sekhukhune United. Despite the setbacks of the past week, the Buccaneers remain mathematically in the title race. Speaking ahead of yet another stern test against arch-rivals Chiefs, head coach Jose Riveiro expressed confidence that his team will remain focused and determined to end the season on a high. They will be determined to hit back after going down 1-0 to Sekhukhune on Wednesday at Orlando Stadium. “The mood in the camp is surprisingly good,” Riveiro said ahead of the match. “We have just come from training, and I can tell…

The clear and present danger facing the Proteas’ Women’s team in today’s Tri-Series ODI clash (6.30am start) against Sri Lanka is home team captain Chamari Athapaththu. The powerful left-handed opener has been a thorn in the Proteas’ side since first coming up against the girls in green way back in 2013. The intervening years have done nothing to diminish Athapaththu’s powers. In fact, the 35-year-old has only become stronger and more skilful, as she notably illustrated last year when she clubbed 258 runs to help Sri Lanka share a first-ever ODI series with the Proteas. Athapaththu’s magnificent 195 not out in Potchefstroom not only bettered her Proteas counterpart Laura Wolvaardt’s undefeated 184, but also helped Sri Lanka chase down a record 301 in one of the most memorable Women’s ODIs…

Since relocating from Gauteng to the KwaZulu-Natal coast in 2021, Susan Nel has brought with her not only a wealth of experience, but a deep passion for the game of lawn bowls – leaving an indelible mark on the development of the sport in her new district. Her presence within Port Natal Bowls has already made a significant and positive impact, both on and off the green. Susan’s career as a bowler is nothing short of extraordinary. She first caught the national spotlight in 2001 when she was runner-up to Lorna Smith (née Trigwell) in the national singles. Her breakthrough came in 2005 when she clinched the prestigious South African Masters title – an achievement that earned her national colours from Bowls South Africa. From that point on, Susan represented…

Coach Miguel Cardoso lauded the unwavering attitude of Mamelodi Sundowns’ players following their commanding 3-0 Premiership victory over Richards Bay on Wednesday evening at Loftus Versfeld Stadium. This triumph, combined with a surprising 1-0 home defeat for second-placed Orlando Pirates at the hands of Sekhukhune United, has widened Sundowns’ lead at the top of the table to an impressive 12 points, placing them firmly on course for an eighth successive title. Cardoso was pleased that the Premiership title race had tilted in the Brazilians’ favour, but urged his troops to maintain focus and intent. “We played one more game today (Wednesday), five more games to go. If we get an extra advantage (Pirates defeat), fantastic, but it’s something we should manage. It’s to keep on going... We need to win…

Minister for Trade Industry and Competition (the dtic), Parks Tau, has clarified that the newly proposed R100 billion Transformation Fund will not leverage Competition Commission settlements as a means of financing. This statement comes in light of growing concerns regarding the Fund's financial structure and its necessity given ongoing black empowerment programmes already in place. During a media briefing on Wednesday, Tau asserted that the establishment of the fund is not intended to undermine existing empowerment initiatives. On the contrary, he described it as an aggregator of all current efforts, designed to augment resources from both government and private sector empowerment allocations, including direct equity contributions. "Competition processes with large transactions, mergers and acquisitions date from a process that fundamentally deals with competition issues and you cannot predetermined the outcome…

The Jobs Fund has announced a new funding round aimed at tackling the pressing employment challenges facing South Africa's green and informal economies. As unemployment rates soar, particularly among the youth and women, this initiative represents a concerted effort to stimulate job creation and foster inclusive economic growth. According to the National Treasury, the Jobs Fund has made significant strides in transforming the labour landscape since its inception, disbursing R7.4 billion to various partners. Treasury on Wednesday said the previous funding rounds resulted in the creation of more than 210 000 permanent jobs, alongside 114 534 short-term positions and internships. The support extended to more than 63 000 small, medium, and micro-sized enterprises (SMMEs) and approximately 16 000 emerging farmers speaks volumes of the Fund's commitment to economic upliftment. With…

Sibanye-Stillwater has announced achievements in its environmental stewardship, receiving an ‘A-’ rating for climate change disclosure and a ‘B’ rating for water disclosures from CDP, a highly respected non-profit organisation renowned for its global environmental disclosure system. Sibanye-Stillwater on Wednesday said this recognition underscored the company's commitment to transparent reporting and sustainable practices. The award-winning climate rating affirmed Sibanye-Stillwater's ongoing efforts to tackle the pressing challenges posed by climate change. Maintaining an ‘A-’ rating reflects the company’s sustained dedication to implementing strategies that align with its ambitious goal of achieving carbon neutrality by 2040. This commitment is central to the Group’s operational ethos, which aims to foster resilience while contributing positively to local communities. In contrast, the Group’s water disclosure rating saw a slight decrease from an 'A-' to a…

Many people dream of financial freedom, but the path to achieving it is often misunderstood. It’s not a destination you can reach overnight but rather a carefully navigated journey. To succeed, you must focus on the long term, make smart adjustments, and understand the importance of managing risks and diversification. Maintain a long-term focus – don’t be discouraged by short-term issues It’s essential to set goals to stay on track. Define what financial freedom means to you – whether it’s retiring comfortably or achieving a specific return (such as a certain percentage above inflation) – and let that goal guide your decisions. These investments often promise high returns, but they come with a wide range of unpredictable outcomes. From that perspective, the wealth planning value of these assets is poor,…

Turkish cell phone group Turkcell on Tuesday won a Supreme Court of Appeal (SCA) judgement that will allow its $4.2 billion (about R78bn) claim against MTN Group to be heard in a South African court. Turkcell Iletisim Hizmetleri A.S (Turkcell) and its owned subsidiary, East Asian Consortium (EAC), previously instituted legal action in the High Court of South Africa against MTN and certain of its subsidiaries in 2013, in which action Turkcell and EAC made allegations of impropriety in the award of the first private mobile telecommunications license in Iran. MTN’s board appointed an independent special committee in 2012 to investigate the allegations and it exonerated MTN. The South Africa-based telecoms group, which operates in 16 pan-African markets, said Wednesday it would appeal the SCA decision. It said the judgement,…

South African Communist Party (SACP) general secretary Solly Mapaila has called on Finance Minister Enoch Godongwana to replace the abandoned VAT hike by increasing the wealth tax. He was addressing the Cosatu May Day rally, where President Cyril Ramaphosa also spoke, at Kees Taljaard Stadium in Middleburg, Mpumalanga, yesterday. Before delivering his speech, Mapaila, who had previously indicated that the SACP would contest future elections against the ANC, said “down with the VAT increase”, “down with the GNU”. Ramaphosa annoyed the SACP after establishing the Government of National Unity (GNU), which included the DA, when the ANC lost its support during the May 29, 2024, general elections. Various political parties and labour unions were also angered when Godongwana attempted to increase VAT. “We joined parties led by Cosatu and, in…

Taxpayers will have to, for the third time, pay the bill for the revised Budget Speech to take place later this month. Finance Minister Enoch Godongwana announced this week that the third version of the revised Budget will be tabled on May 21. This follows Godongwana’s announcement last week that the government would not implement the 0.5 percentage point VAT increase which had been proposed in his Budget speech in March. This came after court action by the DA and the EFF. A court order, taken by consent, setting aside the VAT hike and fiscal framework was granted by the Western Cape High Court. The revised Budget is expected to have significant implications for taxpayers, who will have to bear the brunt of the changes. While Godongwana acknowledged that…

In a step towards embracing the digital age, Minister of Higher Education and Training, Nobuhle Nkabane, officially launched a state-of-the-art Digital Innovation Lab at the Esayidi TVET College in uMzimkhulu, KwaZulu-Natal this week. The minister’s delegation included the department’s director-general, Nkosinathi Sishi, director-general for TVET Colleges, Sam Zungu, along with municipal leaders, industry representatives, and prominent figures in the education and training sectors. The department said this lab is a significant milestone for the future of digital education in South Africa. Nkabane said the lab is important in preparing students for the opportunities and challenges of the Fourth Industrial Revolution (4IR), where digital skills are vital for success in today’s fast-evolving job market. “The launch of the Digital Innovation Lab is a pivotal step in providing our students with the…

AmaZulu coach Arthur Zwane has described their penultimate Premiership clash against Polokwane City in Umlazi as the game of their lives. Usuthu will host City at King Zwelithini Stadium on Friday night (7.30pm kick-off) eager to bag all three points. This will not only be their penultimate game of the season, but one that could help them finish in the top eight after blowing hot and cold this campaign. AmaZulu have been their worst enemies this season as they dropped points that they were expected to bag, before beating Golden Arrows recently. As such, they are sixth on the log with 33 points, one ahead of the seventh-placed City, who still have a game in hand. So, should they ensure that they keep all points in Durban on Friday night,…

Some Bulls fans on social media bemoaned the fact that the Pretoria side opted not to kick a late penalty at goal in last week’s epic victory over Glasgow Warriors in Scotland. The outcry came about as another three-pointer would’ve denied the defending champions a valuable losing bonus point. It ended 26-19 at Scotstoun Stadium, which meant that Glasgow remained a point ahead of the Bulls on the United Rugby Championship log on 59, compared to 58 for the third-placed South Africans. But there was method to the madness. Coach Jake White explained afterwards that it was a case of securing the victory rather than risking a possible draw, as the ball could have bounced off the uprights or landed in Glasgow’s hands, from which they could launch a counter-attack.…

There will be one last shot at a piece of silverware for the Blitzboks when they start the SVNS World Championship in Los Angeles on Saturday. While a victory in Cape Town in December was the last time the Springbok Sevens lifted a trophy, they’ve shown glimpses throughout the season of their abilities, and will have to put everything together over the weekend if they want to win. It’s the all-important trophy they want to fight for in the one-off competition, and it will be a clear indication for head coach Philip Snyman of the growth or lack thereof in the side over the last couple of months. There is no argument that they are in the so-called ‘group of death’, facing last season’s Championship victors France, SVNS Series winners…

Despite mixed form from both clubs and Mamelodi Sundowns’ dominance, the Soweto Derby continues to hold its place as South Africa’s most anticipated and culturally significant football event. Kaizer Chiefs and Orlando Pirates will meet this Saturday at FNB Stadium in a Betway Premiership match, before facing off again a week later in the Nedbank Cup final at Moses Mabhida Stadium. Back-to-back derbies are rare, and while both teams find themselves in different positions on the table, the significance of the fixture hasn’t changed. Chiefs come into the weekend sitting in ninth place, out of the running for any league silverware. Pirates, meanwhile, are still mathematically in the title race, nine points behind Sundowns with two games in hand. While a league title push is a long shot, they have…

Orlando Pirates may have just played their last strong hand in the Premiership title race. And as close as they came, their latest defeat to Sekhukhune United could prove to be a critical blow – perhaps the final knock that will make it difficult for them to mount a serious pursuit of their long-awaited 10th league crown. Coming into the season, the Buccaneers were widely tipped as the most likely challengers to end Mamelodi Sundowns’ dominance. More than any other team, they seemed best equipped to launch a formidable campaign – and for large parts of the season, they did just that. Their MTN8 triumph earlier in the season stands as proof of the remarkable foundation laid by Jose Riveiro and his technical team – measured not just in trophies,…