Indholdsfortegnelse for 2025-06-13 i Mercury

PIC, IDC, and DBSA have collectively invested R656 million into the SA Hydrogen Fund (SA-H2), also known as CI3 South Africa South Africa’s plans to accelerate the development of green hydrogen have received a major boost with several initiatives announced on Thurdsay, highlighting the country's commitment to renewable energy. The Public Investment Corporation (PIC), the Industrial Development Corporation of South Africa (IDC), and the Development Bank of Southern Africa (DBSA) have collectively invested R656 million into the South African Hydrogen Fund (SA-H2), also known as CI3 South Africa. This fund is pivotal in advancing the country's just energy transition (JET) and reinforcing its status as a global leader in green hydrogen. As part of this intensification of green energy initiatives, the IDC has joined forces with Germany’s KfW Development…

Finance Minister Enoch Godongwana did not equivocate in this year’s third iteration of the national Budget Speech: government intends to channel long-term domestic savings – particularly pension funds – towards the country’s infrastructure and industrial development priorities. “We are also exploring alternative financing instruments,” he said, “to allow pension funds, commercial banks, development banks and international financial institutions to participate in financing our infrastructure plans.” The idea is not new. Proposals to more actively direct retirement savings into public interest sectors have circulated since the ANC’s 2017 policy conference, where the party raised the possibility of ‘prescribed assets’ to mobilise funding for social infrastructure. With the introduction of the two-pot retirement system, South Africa’s R5.8 trillion pension fund industry, spanning 4 904 registered funds, is well positioned to play an…

The battle for the scrapping of "race laws" in South Africa went a notch up on Thursday as the Congress of South African Trade Unions (COSATU) shot down a call to review and drop South Africa's Broad-Based Black Economic Empowerment (B-BBEE) policy. This comes as trade union Solidarity and the Free Market Foundation (FMF) on Thursday released a report claiming that B-BBEE has caused serious damage to the country’s economy and to its population while only enriching a small, politically-connected elite. The report draws on data from the B-BBEE Commission, Stats SA, the JSE, and international comparisons to assess the real costs of compliance across the key BEE scorecard elements: ownership, skills development, enterprise and supplier development, management control, and socio-economic development. According to the report, the annual cost of…

The South African Revenue Service (Sars) is no longer the passive revenue service many South Africans remember. With the injection of R3.5 billion from the national budget and the ominous launch of “Project AmaBillions,” Sars has entered its most aggressive phase of enforcement in years and is quickly turning into one of the most sophisticated, assertive, and unrelenting revenue authorities in the world. Welcome to the new high-stakes era of tax compliance, which marks the end of the era of any perceived leniency. It is now the time of relentless enforcement. If you’ve received a surprise assessment or an additional tax bill, doing nothing could be financially and legally disastrous. Sars has flipped the switch: compliance or consequences South Africa’s budget is strained, and Sars has one clear mandate:…

Chronos Capital, an early backer of emerging market unicorns Tyme Group and Optasia, is looking to invest in companies deploying artificial intelligence in healthcare as it seeks to capitalise on a technology that’s expected to transform the medical industry. “AI in healthcare is going to have the biggest impact on humanity,” Roger Grobler, a partner at the investment firm said in an interview. “AI in healthcare is probably where fintech in financial services was 30 years ago. All the upside is still to be made.” AI is developed by processing and learning from vast swathes of data, which in healthcare, for example, may enable it summarise and recognise patterns in records, interpret test results and diagnose illnesses. Its potential to address inefficiencies in the global health-care industry, lower costs and…

An official who issued an illegal instruction to offer a settlement offer to a service provider, which has subsequently resulted in the eThekwini Municipality having to cough up R53 million, will be dealt with. This was said by senior municipal officials who were at a media briefing held yesterday by the City, which was aimed at dispelling concerns about the mismanagement of ratepayers’ money through fruitless litigation. The officials also defended city manager Musa Mbhele. They asserted that he is being unfairly maligned when the cases predate his term, emphasising that he has acted with integrity and has the full authority and support of the council. The City’s Head of Legal, Malusi Mhlongo, discussed various legal cases involving the municipality. One significant case was the dispute between the City and…

A budget shortfall and internet connectivity are some of the challenges hampering progress in the Health Patient Registration System (HPRS) in KwaZulu-Natal. With KZN having rural areas, the issue of connectivity to health services was making it difficult to implement the HPRS, said KZN Health MEC Nomagagu Simelane, when she addressed the Select Committee on Social Services at the National Council of Provinces yesterday. The committee received briefings from health departments in KZN, Mpumalanga and the Northern Cape on the readiness to implement the HPRS. Simelane said some clinics in rural areas were not able to implement the HPRS because they could not connect to the internet, adding that there was a strategy to deal with it. The HPRS will enable better patient tracking and contribute to reduced waiting…

The KwaZulu-Natal Judge President has issued a stern warning to the State and defence to make themselves available next year for the three month murder trial of Kiernan 'AKA' Forbes and Tebello Tibz Motsoane. Forbes and Motsoane were gunned down in February 2023 outside Wish restaurant on Florida Road, Durban. Lindokuhle Mkhwanazi, Lindani Ndimande, Siyanda Myeza, Mziwethemba Gwabeni and Lindokuhle Lindo Ndimande are charged with the murders. Judge President Thoba Poyo-Dlwathi, was the presiding officer at the pre-trial conference yesterday morning at the Durban High Court. She said the matter would be set down for a term (three months) next year and warned that part heard matters in general (in the province's courts) cannot continue. “Some of my colleagues are retiring and when there are part heard matters they are…

WHEN Lungi Ngidi burst onto the international scene, naturally, the whole country was filled with excitement. There was a young 1.93-metre-tall black African fast bowler, one who had express pace, accuracy and skill. A couple of years prior, the country had welcomed Kagiso Rabada, and with Ngidi coming onto the scene, the cricket-loving nation could already foresee the two ripping through every Test batting unit in the world. In 2018, on his Test debut, Ngidi took a six-for against India at SuperSport Park in Centurion and was the Player of the Match, an achievement that further gave the country hope of a bright future for him and the national team. A year later, he was leading the attack alongside Rabada in the ICC 2019 ODI World Cup in the United…

Day two saw 14 wickets fall at Lord’s in the World Test Championship final between the Proteas and Australia. Ongama Gcwabe highlights Plays of the Day... Positive intent For a side that had vowed to take the positive approach with the bat since coach Shukri Conrad took over two years ago, recording 43/4 in 22 overs on the opening day was certainly contrary. However, when Temba Bavuma and David Bedingham took to the middle on day two, they showed positive intent, taking full advantage when opportunities came. Bavuma’s pull shot for six off Pat Cummins was the only six in the match, a feat that shows just how positive the Proteas batters were on day two. Game-changer After a poor performance with the ball on the opening day, Lungi Ngidi…

The mining industry in South Africa continued to face bleak prospects after output plunged more than expected in April, signalling the continued sinking of the productive sectors of the economy. According to data from Statistics South Africa (Stats SA) on Thursday, mining production slipped by 7.7% year on year in April following a revised 2.5% decline in March. This April reading was more than an expected 4.3% decline and pointed to the sixth consecutive month of downturn in the country's sector. Jean-Pierre Terblanche, principal service statistician at Stats SA, said the decline was led by a fall in the production of platinum group metals (PGM) which contracted by 24.1% from a decline of 9.9% in March. “Nickel, copper, gold and coal also performed poorly in April,” Terblanche said. “On the…

The gross domestic product (GDP) figures released by Statistics South Africa also indicated that the economy grew by 0.1% in the first quarter of 2025 following a downwardly revised increase of 0.4% in the fourth quarter of 2024. During a post-Cabinet media briefing on Thursday, Minister in the Presidency Khumbudzo Ntshavheni, said the government was now working to fine-tune the country’s industrial policy. “Cabinet remains concerned about the decline in the manufacturing industry, more so when the government has prioritised boosting local manufacturing and thus awaits the finalisation of the revised Industrial Policy,” Ntshavheni said. “The government understands the impact of the challenges within freight and logistics that continues to impact the growth of the mining industry, and we are maintaining a razor-sharp focus on the work of Operation Vulindlela…

There is a hard truth we can no longer ignore: if we don’t act now, most working South Africans will have no choice but to work until they’re 80. Not because they want to, but because they have to. When it comes to retirement, expectations often do not meet reality. The consumer portion of this year’s study revealed that respondents expected to retire comfortably at the age of 60. However, Sanlam Corporate – our Age of Confidence research – showed a starkly different picture: South Africans, on average, may need to work a full two decades past the normal retirement age to maintain their lifestyle. Additionally, our 2025 Benchmark study found that almost half of respondents use Google for financial information, and just 22% consult a financial advisor. Unfortunately, retirement…

Shuka Minerals said on Thursday it had received final regulatory approval for the acquisition of Leopard Exploration and Mining (LEM), the Zambian company that owns the Kabwe Zinc Mine, marking a key step in the UK-listed firm’s African growth strategy. Shuka Minerals is a UK-based exploration and development company focused on mining opportunities across Africa. It has a secondary listing on the JSE. The approval from Zambia’s Competition and Consumer Protection Commission (CCPC) clears the last regulatory hurdle for the 100% acquisition of LEM, first announced in December 2024. Shuka said it has also agreed terms for a £1.5 million (R37m) unsecured, non-dilutive funding facility to cover the remaining $1.35 million (R24m) cash consideration owed to LEM’s vendors. The facility is subject to final due diligence and the execution of…

Debate has been sparked on South Africa’s unemployment rate after it was suggested that the figure could be much lower than the publicly recorded rate if the role played by the informal sector of the economy is taken into account. Economists weighed in on the issue this week. They said while Statistics South Africa collects quality information to produce statistics on unemployment and GDP, this information could be affected by incorrect data and untruths. Capitec CEO Gerard Fourie first raised the issue and said there should be a rethink of the country’s unemployment metric, contending that when the vast informal sector is taken into account, the headline figure of 32.9% could be closer to 10%. The government places the rate of unemployment at about 32%, with the expanded definition of…

The Road Accident Fund (RAF) is considering withdrawing its contentious court case involving a dispute with the Auditor-General over the accounting standards. This emerged when the board of the RAF, the executives, and Deputy Minister Mkhuleko Hlengwa appeared before the Portfolio Committee on Transport at a marathon meeting on Wednesday night. The entity has prepared court papers to be lodged with the Constitutional Court after the President of the Supreme Court of Appeal (SCA) turned down their petition following the Pretoria High Court decision that dismissed RAF’s application to review and set aside the A-G’s 2020/21 disclaimer audit report. It undertook the legal action despite the Transport Department instructing it to find a solution to the dispute that was sparked by an audit finding that its use of the International…

The entire motivation behind the World Test Championship is for the values of the five-day game to be preserved and cherished. In its purest form, that means highly-skilled bowlers and batters constantly testing each other. It is understood that without one, the other will cease to exist. Tell that to the capacity crowds that have been utterly enthralled on two consecutive days of this pulsating World Test Championship final between the Proteas and Australia that is stuck in overdrive. Fourteen wickets fell on Wednesday’s opening day, and it was perfectly matched yesterday in the British capital. But it was the five sticks that fell between tea and drinks in 14 intoxicating overs that was spellbinding. Ridiculed from all quarters for his listless performance in the first innings, Lungi Ngidi rose…

Proteas Women opening batter Tazmin Brits was disappointed with her team’s performance against the West Indies in Barbados on Wednesday, despite putting up a decent half-century. Brits, who opened the batting for the Proteas with captain Laura Wolvaardt, got the team off to a positive start during the first 10 overs of the game. The pair pushed toward their 50-run partnership, which came in the 11th over, but Wolvaardt lost her wicket cheaply shortly after with a run out. From there on, the Proteas batting line-up were shaky, and looked far off from the team that put over 300 runs on the board a couple months ago against Sri Lanka and India. The Proteas ended up losing Wednesday’s game by four wickets via the DLS method. One of the major…

Springbok coach Rassie Erasmus will be wearing blue on Saturday when the Bulls play Leinster in the United Rugby Championship final, but won’t pick any of Jake White’s men for the season opener against the Barbarians on June 28 in Cape Town. Erasmus also confirmed that it is unlikely that injured Bulls No 8 Cameron Hanekom will play this year, and the same goes for props Frans Malherbe and Trevor Nyakane, and utility forward Deon Fourie. The Bok boss added that he was disappointed that Juarno Augustus will not be joining the squad for the foreseeable future because of a rib injury he picked up playing for Northampton. The former World Junior Player of the Year had been in line for a Springbok debut after a long apprenticeship in English…

Minister of Agriculture, John Steenhuisen, has reaffirmed that the South African red meat industry must adhere to strict traceability systems and underpinned by a relentless focus on quality, transparency, and food safety. This comes as the country continues to grapple with the outbreak of the foot-and-mouth diseases (FMD). Underlining the significance of biosecurity, the Minister pointed out that abattoirs serve as essential checkpoints for public health and animal welfare. "If there are gaps in how we operate abattoirs, whether in hygiene, record-keeping, carcass classification, or worker safety, then we expose not only our markets but our communities," Steenhuisen said at the Red Meat Abattoir Association Conference in Cape Town on Thursday. "This is why, under my leadership, the Department of Agriculture is intensifying its inspection systems, modernising legislation, and…

The Congress of South African Trade Unions (Cosatu) has adopted a cautious stance following the recent passage of Budget 3.0, even as economists have largely welcomed the budget's provisions. On Wednesday, the budget, which outlines fiscal frameworks and revenue proposals for the 2025/26 financial year, was adopted by Parliament, marking a critical moment for South Africa’s economic management amid fiscal challenges. While Cosatu acknowledged certain important allocations, including the government's decision to retract a proposed VAT increase, which the union believed would have placed undue pressure on workers grappling with rising living costs, concerns linger over whether the budget will provide the economic stimulation required during this precarious time. “Cosatu cannot support tax hikes upon the working class and the poor, who are already highly indebted,” said the union federation…

Being a single parent to a minor child can feel overwhelming, especially when you're solely responsible for daily expenses, education costs, and long-term planning. Unlike two-parent households, there's often no financial fallback, which makes it even more important to build a solid plan that prepares for both expected and unforeseen events. Here are practical financial strategies to help single parents safeguard their family's future. Appoint a guardian for your child: If you are the sole natural guardian, it's crucial to appoint a trusted person in your will to assume guardianship should you pass away. If the other parent is still alive, they will automatically continue as the child's natural guardian, but it’s wise to formally document your wishes to avoid future disputes. Draft a valid, well-structured will: Your…

Southern Palladium said on Thursday it had raised A$8 million (R93m) in a share placement to accelerate development of its Bengwenyama platinum group metals (PGM) project in South Africa. The company issued 16 million new shares at A$0.50 apiece, matching its last closing price on June 6 and representing a 10.5% premium to its 10-day volume-weighted average price (VWAP). No options were attached to the placement. One of the company's largest shareholders provided A$4.6m as a cornerstone investment, with the remainder backed by new and existing institutional investors. Southern Palladium said the funds would support the next phase of its Definitive Feasibility Study (DFS) and staged mine development at Bengwenyama, following recent environmental approval for a Mining Right. "This strategic placement provides the group with targeted funding support at an…

Statistics South Africa (Stats SA) announced on Thursday that the residential property price index (RPPI) rose by 0.4% month-on-month in January 2025. This growth underscores a broader trend, with annual national residential property price inflation recording a 5.2% increase in January 2025, slightly up from a revised 5.1% in December 2024. The RPPI aims to provide insights into the fluctuations in residential property prices across households over time, supported by primary data sourced from the Office of the Chief Registrar of Deeds. This comprehensive measure offers insights at national, provincial, and metropolitan municipality levels and highlights critical regional differences that impact property values. According to Stats SA, the primary contributors driving the national inflation rate included the Western Cape, which saw a robust inflation of 8.7%, contributing an impressive 3.3…

A London-bound passenger plane crashed in the Indian city of Ahmedabad yesterday, leaving one known survivor from 242 on board, with the jet smashing into buildings housing doctors and their families. An AFP journalist saw bodies being recovered from the crash site and the back of the Boeing 787-8 Dreamliner hanging over the edge of a building it hit around lunchtime. “The tragedy in Ahmedabad has stunned and saddened us. It is heartbreaking beyond words,” Prime Minister Narendra Modi said after Air India's flight 171 crashed following takeoff. The bodies of passengers and victims on the ground were among 204 recovered so far, city police commissioner GS Malik said, while medics were treating dozens who were injured in the city. While everyone aboard the flight was initially feared killed, state…

The Red Meat Abattoir Association (RMAA) has urged stronger cooperation between the industry and government to tackle the worsening foot-and-mouth disease (FMD) outbreak. It warns that traceability, biosecurity and vaccine availability gaps could undermine the sector’s credibility and long-term growth. Speaking at the opening of the RMAA’s annual conference yesterday, Agriculture Minister John Steenhuisen acknowledged the seriousness of the outbreak and said the government was acting urgently. “The South African government has procured 900 000 vaccine doses from the Botswana Vaccine Institute for R42 million,” he said. “Vaccination will begin in disease management areas and feedlots, especially in Potchefstroom, where the outbreak has already disrupted economic activity.” While vaccine procurement is a short-term solution, Steenhuisen said efforts were underway through the Agricultural Research Council to develop local vaccine manufacturing capacity.…

Kennedy Mweene will complete a full circle in his career when he returns to the Fifa Club World Cup in the United States as Mamelodi Sundowns’ goalkeeper coach. Such is the depth that he has at his disposal, the 40-year-old is adamant that he’ll have a nice selection headache as well. Mweene was one of the goalkeepers – alongside Denis Onyango and Wayne Sandilands – who were part of the Sundowns team at the 2016 Club World Cup in Japan. He built on the experience that he garnered from that event as he played a key role in the Brazilians’ dominance of South African football. The Afcon-winning goalkeeper with Zambia hung up his gloves two seasons ago, trading standing between the sticks to being a deputy goalkeeper coach at Sundowns.…

Chippa United have announced the appointment of Sinethemba Badela as their new head coach. The club expressed confidence in his abilities as he takes over from Thabo September, who parted ways with Chippa following an underwhelming 11th-place finish last season. Badela, who hails from the Eastern Cape, steps into the leadership role as a promising emerging coaching talent in South African football. He is a former Mamelodi Sundowns DStv Diski Challenge mentor, and has an eye for untapped talent. “This appointment at Chippa United marks his first appointment as a head coach in the Premier Soccer League. It is a moment of pride not just for him, but for us as a club,” Chippa United’s statement read. “We strive to be more than a club. We are a symbol of…

The Bulls will be just as desperate, if not more than their opponents Leinster, to win Saturday’s United Rugby Championship (URC) final in Dublin. Playing in their third final, director of rugby Jake White knows just how important the clash at Croke Park (6pm SA time start) will be as they look to claim a maiden URC title after failing with their two attempts in South Africa. White, at this stage of the season, was in the fortunate position of making only one forced change to his starting side on Thursday, with Springbok Marcell Coetzee taking over the No 8 jersey after the injury to Cameron Hanekom. World Cup winner Marco van Staden will start at openside flank as Coetzee makes a positional switch from the side of the scrum.…