Indholdsfortegnelse for 2025-10-20 i Mercury

Bank procedures in the spotlight after agreements overturned between Standard Bank and client Questionable bank foreclosure procedures have once again fallen into the spotlight following the Supreme Court of Appeal (SCA) decision last week to overturn two settlement agreements between Standard Bank and a defaulting client because the bank had not complied with the National Credit Act. The SCA overturned the settlement agreements in the Wolmarans Kinder Trust case after the agreements were used by the bank to obtain orders from the Bloemfontein High Court, allowing the bank to sell properties to recover its debt without the consumer being afforded an opportunity to oppose the application or follow some other route to repay the debt, such as a debt review process. The SCA judgement arose after the Trust and its…

The International Monetary and Financial Committee (IMFC) has pledged to strengthen international cooperation and sound policymaking to safeguard global stability, address rising debt risks, and advance sustainable growth as the world economy undergoes a profound transformation. In a statement on Friday following its latest 52nd meeting, IMFC chairman Mohammed Aljadaan, who is the Minister for Finance of Saudi Arabia, said that while global growth remains resilient, it faces mounting pressures from high debt, geopolitical tensions, extreme weather events, and shifting trade and demographic dynamics. Aljadaan emphasized that these global challenges bring not only risks but also opportunities for reform and innovation. “The global economy is undergoing a profound transformation,” Aljadaan said. “Major policy shifts in trade and other areas are reconfiguring global markets and policy frameworks, heightening uncertainty. Growth has…

Financial inclusion efforts today are increasingly built around digital systems. By 2035, the South African Reserve Bank envisions an economy where the majority of transactions are conducted digitally. QR codes, e-wallets and contactless cards are gradually replacing physical currency. Yet this vision, while compelling, prompts a fundamental question: can a digitally driven economy succeed if the underlying systems are not designed for the financial realities of the majority? South Africa’s informal economy, estimated to contribute up to 30% of gross domestic product, operates primarily in cash. With approximately 1.8 million informal enterprises active across townships, peri-urban areas and rural centres, over 90% remain cash-reliant. Just 12% use formal banking infrastructure for daily transactions. This segment supports an estimated 5 million livelihoods and generates over R75 billion in annual turnover. It…

Two South Africans have acquitted themselves very well in the trade wars of whose sovereignty. This is when it comes to information and knowledge creation. One grew up in Lesotho as a South African refugee and the other in the Cape Flats. Zakes Mda and Eldrid Jordaan have lit the torch of struggle and shed light in the dark and extractive allays of Silicon Valley. After Donald Trump won the elections as a second term president of the United States, it became clear that South Africa was one on the list of the slash and burn countries. This included the little country, which no one knows about except only the MAGA maniac himself. That South Africa was in the pickle was not only important to the US of “Sleepy…

South Africa’s mining industry recorded a slight setback in August, with production declining by 0.2% year-on-year, according to Statistics South Africa’s (Stats SA) latest Mining Production and Sales report released last week. The contraction, which fell short of market expectations, has sparked mixed reactions from economists and industry observers. Stats SA said the biggest drags on output came from Platinum Group Metals (PGMs), gold, and manganese ore — down 3.0%, 3.6%, and 3.4% respectively — collectively subtracting 1.6 percentage points from overall production. “Coal was the largest positive contributor, rising by 4.1% and contributing 0.8 of the percentage point to overall growt,” said Jean-Pierre Terblanche, principal service statistician at Stats SA. Seasonally adjusted mining production fell for the first time in six months, decreasing by 1.2% month-on-month in August, following…

A new report on transnational organised crime has found that the Prevention of Organised Crime Act (POCA), designed to prosecute the participants and members of criminal organisations, does not reach the outer ring of professional enablers. The report, From Gangs to Grey Agents (A Proposal to Fortify South Africa’s Organised Crime Laws Against Enablers), stated that professional actors never join a criminal group or intentionally facilitate specific crimes. However, they knowingly profit from demand in the broader criminal market by deliberately distancing themselves from its workings, shielding behind a cynical ignorance of the criminality their business model sustains. The report was conducted by the Global Initiative Against Transnational Organised Crime (GI-TOC), which said professional organised crime endures because it operates within the same professional ecosystem that sustains legitimate business, drawing…

Ladysmith, KwaZulu-Natal, has seen significant progress in the fight against food insecurity and poverty, according to the Department of Agriculture and Rural Development and the Department of Social Development. The department held a commemorative event aimed at strengthening social protection systems for the most vulnerable in the uThukela District. Held at the Valjas Sports Ground in the Phayikeni area under the Alfred Duma Local Municipality, the World Food Day commemoration showcased the pledge of the provincial government to combat the escalating cost of living by enhancing food security initiatives. World Food Day marks the founding of the Food and Agriculture Organisation. It aims to raise awareness about hunger, food security and nutrition. In South Africa, the government uses this day to highlight these concerns, particularly among women in rural areas.…

Members of Parliament (MPs) have said that there is some uncertainty regarding whether evidence leader Advocate Norman Arendse SC would be included in the Powers, Privileges and Immunities of Parliaments and Provincial Legislatures Act, 2004. This comes after suspended police minister Senzo Mchunu’s chief of staff, Cedrick Nkabinde, demanded an apology from Parliament’s Ad Hoc Committee evidence leader for comments he made last Wednesday. The committee is probing allegations of police corruption made by KwaZulu-Natal police commissioner Lt-Gen Nhlanhla Mkhwanazi. In a letter to Arendse dated October 17, Nkabinde’s lawyers, Lawtons Africa, said the remarks were made on October 15, when suspended deputy police commissioner Lt-Gen Shadrack Sibiya appeared. “During the course of these proceedings, and at around 7:16:14 and after the Chairperson had made a ruling that the evidence…

In a landmark moment for South African football, Mamelodi Sundowns finally conquered the Nigerian hoodoo by claiming a decisive 5-1 victory against Remo Stars in the first leg of the CAF Champions League second preliminary round. The match, played at the MKO Abiola International Stadium in Ogun State yesterday, saw Sundowns rewrite the history books, overcoming a long-standing jinx of South African clubs failing to secure a win on Nigerian soil in previous Champions League encounters. For years, the prospect of facing Nigerian teams proved daunting for Sundowns. Their previous encounters had ended in disappointment, as they suffered defeats to formidable opponents like Lobi Stars and Enyimba. However, the class and maturity displayed by Sundowns yesterday’s match indicate a significant shift in the team’s fortunes and mentality when competing away…

Transnet Port Terminals (TPT) continues to show strong progress in its turnaround strategy, achieving record-breaking operational milestones that signal renewed efficiency across South Africa’s ports. The state-owned logistics operator announced that it handled 100 158 twenty-foot equivalent units (TEUs) and 27 879 fully built automotive units (FBUs) in a single week — a major performance milestone that has been widely welcomed by industry experts. In the same reporting period, Week 28, the Ngqura Container Terminal (NCT) surpassed its daily operational targets by 60%, handling 2 760 container moves in a single day — one of its best performances in years. TPT CEO Jabu Mdaki said the results reflect a defining moment for the entity in the 2025/2026 financial year, which ends in March 2026. “TPT has broken 14 performance records…

boost as China trade deal sealed South Africa’s agricultural sector has welcomed a breakthrough trade agreement that could open lucrative opportunities for local fruit producers. The Department of Agriculture (DoA) announced on Wednesday that Minister John Steenhuisen and China’s Minister of the General Administration of Customs (GACC), Sun Meijun, signed a landmark Stone Fruit Trade Protocol in Shanghai. The agreement, which covers fruits such as apricots, peaches, nectarines, plums, and prunes, is expected to unlock an estimated R400 million in export value over the next five years. Wandile Sihlobo, chief economist at the Agricultural Business Chamber (Agbiz), said the deal marks a significant step in deepening South Africa’s access to the Chinese market — an increasingly vital destination for local produce. “We must work to broaden South Africa’s agricultural access…

The Competition authorities have been mistakenly and unfairly targeted recently by various free market fundamentalists These self-appointed critics, masquerading as economic experts, miss the necessity of having properly empowered authorities to regulate and where needed, tackle monopolies and anti-competitive behaviour. To simply leave such important matters for the economy, its growth and inclusivity, to the vagaries of the market, is naïve at best and in reality, a dangerous failure to address society’s faultlines. It flies in the face of international experience, where even the most ‘pro-market’ economies, such as the US, have powerful competition authorities. These critics are mysteriously silent when it comes to the Commission’s many important interventions benefiting millions of workers and consumers, thousands of start-ups and SMMEs, contributing to economic growth and reducing our painful levels of…

Jubilee Metals Group, the Zambia-focused copper producer, said Friday the workstreams to conclude the R1.6 billion sale of its South African chrome and PGM businesses were progressing well, while production at these operations remained firmly on track. The company, which is listed on the London Stock Exchange AIM market and the JSE, said in an operational update for its first quarter to September 30 that approval by the South African Competition Commission and delivery of detailed accounts for the disposal group were the only two outstanding conditions precedent for the sale. The share price notched up 2.94% on Friday on the JSE to 70 cents, but the price is still well down from 106 cents a year before. “Our South African operations have delivered a solid performance while the sales…

A plan to cut greenhouse gas emissions in shipping supported by much of the maritime industry was shelved Friday by delegates to a UN regulatory body following threats from President Donald Trump that he would punish countries backing the measure. The International Maritime Organisation (IMO), which regulates global shipping, had agreed in the spring to move ahead with its plan to zero out the sector’s emissions, leading to escalating threats from the Trump administration. “We’re calling on other nations to vote with us or face serious consequences,” Michael Waltz, the US ambassador to the United Nations wrote Thursday on the social media platform X. Trump, in his own social media post, vowed that “[t]he United States will NOT stand for the Global Green New Scam Tax on Shipping and will…

When patients arrive at Netcare Christiaan Barnard Memorial Hospital’s Level 1 trauma centre in Cape Town, they rarely realise that the caring nurse helping to treat them is also a Springbok rugby player. Professional nurse Nomsa Mokwai prides herself on being particular about nursing practices, but when she’s not working with the trauma team, she proudly puts on another uniform — that of the green and gold of the Springbok women’s rugby team. It’s a role she also takes very seriously, devoting much of her off-duty time to working out in the gym and squad training. The team she’s a part of recently represented South Africa in the Women’s Rugby World Cup in the United Kingdom, where they reached the quarter-finals. Mokwai said she loves the variety her job offers.…

A legal battle over the use of the trademark “Salt of the Earth” relating to the deodorants two companies trade in turned to the Western Cape High Court, with a United Kingdom-based company claiming that a South African company is infringing on its trademark. Chrystal Spring Consumer Division Ltd, as well as Good Health Products, asked the court to interdict Salt of the Earth Products Ltd (the respondent) from selling its deodorant under this name. Chrystal Spring (first applicant), as the registered owner of the trademark, argued exclusive rights to use it based on its registration. Good Health Products (second applicant) claims the right to use the trademark under an exclusive distribution agreement between them. The respondent, on the other hand, asserts that it has vested rights to use the…

Deputy Minister in the Presidency Kenny Morolong has re-affirmed the country’s media freedom amid widespread media scrutiny following the recent testimony by KZN Provincial Commissioner Lt-Gen Nhlanhla Mkhwanazi at the Parliamentary Ad Hoc Committee. Last week, Mkhwanazi deviated from his prepared witness statement and requested the Ad Hoc Committee and the Joint Standing Committee on Intelligence to give instructions to the state security apparatus to investigate the country’s news media. However, in a separate interview, Mkhwanazi said he has nothing against the South African media, as it plays an important role in society. “I appreciate the work of many journalists and the media’s role in society. However, the Bill of Rights protects human dignity under our Constitution. When I addressed the committee in Parliament last week, I urged lawmakers to…

Sune Luus believes the “momentum” is with the Proteas after qualifying for the ICC Women’s World Cup semifinal with two games to spare. It will be the Proteas’ third consecutive World Cup semi-final after reaching the knockout stages both in 2017 and 2022. Laura Wolvaardt’s team are among the most consistent major tournament contenders after also progressing to the last two ICC T20 World Cup finals. “Yeah, it's exceptional. I think, you know, the team has shown their character in the last couple of games,” said former captain Luus. “I think how we started was not ideal, but to have four wins in a row after that playing good cricket, I think it's definitely put the momentum on our side.” The Proteas still have two matches remaining against Pakistan in…

Liverpool slumped to a fourth consecutive defeat for the first time in 11 years as Manchester United won 2-1 yesterday to end their near decade-long wait for victory at Anfield. Harry Maguire’s 84th-minute header secured back-to-back Premier League wins for the first time in Ruben Amorim’s tenure as United boss. Twelve minutes from time, Cody Gakpo had cancelled out Bryan Mbeumo’s opener after just 61 seconds. The defeat leaves Liverpool four points adrift of Arsenal at the top of the table, with Arne Slot still searching for the right blend after spending nearly £450 million (about R10.49 billion) on new players in the transfer market. United closed to within two points of their historic rivals and up to ninth in the table, easing the pressure on Amorim after his biggest…

The Lions broke their United Rugby Championship (URC) duck at the weekend with a workmanlike victory over the Scarlets at Ellis Park, but they will need to lift their performance considerably when they host Ulster this week. Ulster are unbeaten in three games and sit fifth on the URC points table, despite having played one fewer match than most other teams – the Ulster-Edinburgh fixture scheduled a few weeks ago was postponed due to Storm Amy. The Northern Irish side have been on something of a giant-killing spree, having defeated two South African heavyweights in the last fortnight. The Bulls were routed 28-7 in Belfast, and on Saturday, the Sharks – featuring 13 Springboks – were shocked 34-26 at Kings Park. Lions coach Ivan van Rooyen, speaking after his team…

The Air Traffic and Navigation Services (ATNS) says it could take at least two weeks to restore suspended Instrument Flight Procedures (IFPs) at Kruger Mpumalanga International Airport (KMIA), a move that has severely disrupted air travel and tourism just as South Africa’s holiday season begins to peak. Aviation company Airlink has raised alarm over ATNS’ recent suspension of additional IFPs affecting KMIA, compounding the impact of a broader nationwide suspension of 226 IFPs since July 2024. That suspension followed ATNS’s failure to submit paperwork required to renew the procedures’ validity, and more than 200 of those remain withdrawn. The Kruger Lowveld Chamber of Business and Tourism (KLCBT) has echoed Airlink’s concerns, warning that the ongoing suspensions—part of a mandatory recertification process under the South African Civil Aviation Authority (SACAA)—have triggered…

Last Thursday China blamed the US of creating “panic” over Beijing’s controls on rare earth minerals. The country, however, has shown willingness to open to trade talks to resolve a dispute that has threatened to reignite a trade war between the world’s two largest economies. “The US interpretation seriously distorts and exaggerates China’s measures, deliberately creating unnecessary misunderstanding and panic,” Ministry of Commerce spokesperson He Yongqian told a news conference, according to the state newspaper Global Times. Some sell off from emerging markets assets usually accompanies such trade tensions. Profit taking after five weeks of unprecedented demand for precious metals also affected South African markets last Friday. Despite strong sell offs of especially resources on Friday, most indices on the JSE ended the week in the green. The JSE All…

Safari Investments RSA’s board has made an offer to buy out the minority shareholders and delist the REIT as it shifts its strategy to retail centre development. Safari has a R4.2 billion portfolio of shopping centres in high-growth townships and peri-urban areas such as Delyn Mall in Mamelodi, Thornhill Shopping Centre in Polokwane, and Nkomo Village in Atteridgeville. The offer of R8 per share cash is being proposed to the shareholders other than Heriot REIT or its subsidiaries, which already control 59.20% of Safari. Shareholders holding 34.03% of the shares have indicated they would support the proposed offer and delisting. Safari’s thinly traded share price was static at R8 on Friday, having increased from R6 per share over the past 12 months. As reasons for the proposed delisting, Safari’s board…

ANC secretary-general Fikile Mbalula has apologised to Patrice Motsepe over remarks he made in the past about the billionaire’s possible political ambitions for the presidency of the African National Congress. “When I spoke about Patrice Motsepe, people said I was fighting with him…No, I’m not fighting with him,” Mbalula said. “If I spoke badly, I withdraw those words, because Motsepe’s people fought with me, telling me to stop fighting with Motsepe. “I’m not fighting with him. I was relaying NEC’s decision, saying we must not speak about succession battles because we are in trouble. We must fight and win the elections and then we can speak about it.” Meanwhile, Motsepe has once again put to rest speculation about his political ambitions, making it clear he has no intention of seeking…

A civil court’s finding of contempt — even if accompanied by a sanction such as a fine or a stint in jail — does not constitute a criminal conviction under the Criminal Procedure Act — which means that the person found to be in civil contempt cannot have a criminal record. This was the finding of the Gauteng High Court, Pretoria, which took a closer look at South Africa’s common law. This followed when South African hair brand Native Child earlier won its case against social media influencer Mary Oluwatobiloba Akinwale. She was ordered to remove certain posts regarding the hair brand from social media. Akinwale did not totally adhere to the order, and Native Child returned to court to hold her in contempt, coupled with a prison sentence. The…

Prince Simakade, the half-brother of AmaZulu King Misuzulu kaZwelithini, who challenged his ascension to the throne, has rejected the Supreme Court of Appeal (SCA) ruling that confirmed Misuzulu as the legitimate monarch. Two weeks ago, the SCA overruled the Pretoria High Court's 2023 judgment that had set aside Misuzulu's recognition as monarch by President Cyril Ramaphosa. In a media briefing on Sunday, Prince Simakade’s spokesperson, Prince Thokozani Zulu, dismissed the SCA ruling as flawed; however, he did not say whether it will be appealed or not, adding that Simakade was still weighing his legal options. Zulu that Simakade does not understand how the SCA concluded that the 14 May 2021 meeting was properly constituted as it was chaired by the late traditional prime minister, Prince Mangosuthu Buthelezi, who they did…

The City of Tshwane's new digital dashboard will track water consumption and losses, manage demand, and reduce non-revenue water, which results from leaks and theft. This initiative is the result of a public-private partnership between the city, Vodacom, the Strategic Water Partnership Network (SWPN), and Mezzanine. The city's Member of the Mayoral Committee for Utility Services, Frans Boshielo, said the web-based platform, accessible on the city’s website, is a crucial tool in the city’s strategy to monitor water consumption and losses. According to him, the initiative supports the Department of Water and Sanitation's “No Drop” programme, aimed at improving water efficiency and loss management. “This digital solution marks a shift towards data-driven water management, offering greater transparency and accountability. “Using the International Water Association water balance methodology, the system provides…

A frustrated John Plumtree has called on his Sharks to “reset” quickly after their 34-26 defeat against Ulster in Durban on Saturday, admitting that both players and coaches must take responsibility for the team’s poor start to the United Rugby Championship season. The result at Kings Park leaves the Sharks near the bottom of the table, and with only a week before they face the equally struggling Scarlets, Plumtree said there was little time for excuses. “Monday is the most important day for us,” he stressed. “It’s not about next week, it’s about Monday – and then we can start building. We’ve only got seven days to get right for the Scarlets, so for me, Monday is just massive.” Plumtree acknowledged that the recent reintegration of several returning Springboks has…

Bulls coach Johan Ackermann says he will rotate his players for the United Rugby Championship tour finale against the Warriors in Glasgow on Friday, as the tough northern hemisphere conditions have taken a toll on bodies. The Bulls lost heavily to Ulster in their opening match and narrowly edged Connacht 28-27 in Galway at the weekend. Ackermann also has to adhere to Springbok resting protocols. “At this stage, Wilco Louw and Canan Moodie will go back home, and one or two others as well,” Ackermann said. “We are going to rotate the squad purely to give some guys a mental and physical break.” “The 4G pitches are taking their toll on the bodies,” the coach added. “There are a lot of bruises and a lot of skin off knees and…

An overjoyed Raul Fernandez surged to a maiden MotoGP victory in Australia yesterday in his 76th race, while Alex Marquez finished fourth to shore up his bid to end the season second in the world championship. On an overcast day at Phillip Island, the Aprilia-Trackhouse rider benefited from two long-lap penalties served by a flying Marco Bezzecchi to take the chequered flag 1.418sec clear of Ducati’s Fabio Di Giannantonio. Aprilia’s Bezzecchi, who won the 13-lap sprint on Saturday, came third, 2.410sec adrift, to complete the podium. KTM’s Pedro Acosta was fifth ahead of Luca Marini on a Honda and Yamaha’s Alex Rins, while Spanish rookie Fermin Aldeguer, who won the MotoGP in Indonesia a fortnight ago, finished 14th. “I cannot believe it,” said Spain’s Fernandez, who had never been on…

Spin. And spin some more. That’s what Proteas captain Aiden Markram expects from the Rawalpindi surface for the second Test, which starts here today. “We’ve expected those types of conditions from day one,” Markram said yesterday. “It’s about us having done some homework post the first Test and coming up with new plans to hopefully counter that and give ourselves a chance of succeeding in these conditions. “I suppose when you get to spinning conditions, the guessing game is always how long until it really starts to spin exaggeratedly.” Fortunately for the Proteas, their most accomplished spinner Keshav Maharaj has returned to full fitness and will significantly boost the visitors’ chances of utilising the conditions in their favour. Maharaj missed the series opener in Lahore due to a back problem.…