Indholdsfortegnelse for 2025-10-24 i Mercury

Crude prices spiked more than 2 percent Thursday after US President Donald Trump said he would impose heavy sanctions on two Russian oil companies. Both main oil contracts jumped more than 3 percent - having climbed more than 2 percent Wednesday - on news of the measures after Trump said Ukraine peace efforts with Russian President Vladimir Putin "don't go anywhere". The move was joined by another round of punishments by the European Union as part of attempts to pressure Moscow to end its three-and-a-half-year invasion of Ukraine. Trump decided on the sanctions after plans for a fresh summit with Putin in Budapest collapsed this week. "Every time I speak with Vladimir, I have good conversations, and then they don't go anywhere," the US president said in response to a…

Transport Minister Barbara Creecy has said that Transnet is fully geared up for the upcoming retail season following the arrival of four new ship-to-shore (STS) cranes at the Durban Container Terminal (DCT) — a R967 million investment expected to significantly enhance cargo-handling efficiency, capacity, and competitiveness. Speaking at an event to officially receive two of the cranes, Creecy said the equipment marks a key milestone in Transnet’s 18-month Recovery Plan and Reinvent for Growth Strategy, which are beginning to yield measurable results across the utility’s operations. "This is affirmed by the recently concluded citrus season, where Transnet Port Terminals (TPT) recorded an impressive 19% year-on-year increase in volumes handled across its terminals, with the Durban Container Terminal (DCT) Pier 2 recording a notable 28.8% increase," Creecy said on Thursday. "Volumes…

Young South Africans are feeling the financial squeeze more sharply than generations before them. With youth unemployment at 62.4% among those aged 18 to 24, saving often feels like a distant goal rather than an achievable habit for the current generation. In fact, the latest Standard Bank Youth Barometer confirms that young earners are under extraordinary strain, with most reporting that their salaries barely cover essential living costs. Many are also forced to prioritise immediate survival over long-term planning, while others feel paralysed by the shame and uncertainty that come with not knowing where or how to start. This emotional barrier is often underestimated. There’s a deep sense of money shame that stops young people from taking even small financial steps. They feel as though they are behind before they’ve…

Afrimat, the mid-tier industrial minerals mining group, increased headline earnings substantially by 92.3% to 101.9 cents in the six months to August 31 after measures to fix its cement business gained traction and it sold much greater iron ore volumes. “The group made several key improvements, and the results are becoming tangible,” said the CEO, Andre van Heerden. The cement business saw a big increase in sales but did not yet make a profit due to kiln reliability factors, while phosphate sales also did not translate into profits because the business was still being built up, said the CFO, Pieter de Wit, in an interview. Group revenue increased by 29.9% to R 5.3 billion. The interim dividend was doubled to 20 cents a share. Operating profit was up 29.8% to…

Former President and Umkhonto weSizwe Party (MKP) leader Jacob Zuma said the party will do all it can to ensure that those implicated in the Madlanga Commission and Parliament's Ad Hoc Committee are held accountable. Zuma, during a press conference yesterday, said what has emerged so far from the Madlanga Commission especially has vindicated him and his party on their previous claims of political interference in the judiciary. He called for a lifestyle audit of all the members of the judiciary to determine whether their lifestyles are in line with their normal earnings. The Madlanga Commission, which is chaired by the retired Deputy Chief Justice Mbuyiseli Madlanga, is currently hearing testimony of political and criminal interference in the entire justice and security cluster. The commission was appointed by President…

South Africans living abroad will soon have their new passports delivered straight to their front doors as the Department of Home Affairs is launching the new initiative from November 1. Minister of Home Affairs Dr Leon Schreiber said the move was among the many measures that the department is taking in terms of a “bold reform” strategy. The announcement was made during Schreiber’s address to the South African community in The Hague, the Netherlands, where the department also opened a new service centre designed to slash passport waiting times from up to 18 months to as little as five weeks. “This marks the first time ever that Home Affairs has provided clients with the option to select courier delivery for a critical enabling document, instead of being forced to travel…

THE pupils linked to a shocking bullying incident at Milnerton High School in Cape Town that sparked widespread outrage must not contact the complainants and witnesses directly or indirectly. If they see the complainants, they must avoid them. This is according to the bail conditions issued during their appearance in court yesterday. They are also prohibited from entering the school yard or the school until the case is finalised, and must submit their cellphones and pins. The eight learners appeared at Cape Town Magistrate’s Court following the assault of a Grade 10 learner that was captured on video and widely circulated on social media. Six of the accused appeared in Court 26 and two others appeared in Court 19 as they are juveniles. The National Prosecuting Authority (NPA) said the…

Max Verstappen chases a fourth win in five starts this weekend as he bids to heap more pressure on McLaren duo Oscar Piastri and Lando Norris at the Mexico City Grand Prix, one of his most rewarding tracks. Red Bull's four-time world champion, who has won five times in seven years at the high-altitude Autodromo Hermanos Rodriguez, has cut Piastri's lead ahead of him, in third place, from 104 points to 40 since August with a scintillating burst of form. Piastri still leads team-mate Norris by 14 points, but he has lost his metronomic consistency and, as McLaren appear to be floundering to match Red Bull for pace, he appears also, like Norris, to be weighed down by the pressure of the title battle. After finishing on the podium in…

This is really something. The Proteas, holders of the World Test Championship mace, are showing they are worthy champions. For all the talk of an easy route to Lord’s earlier this year, Shukri Conrad’s side have proved they can win anywhere. In beating — nay, dismantling — the hosts yesterday in Rawalpindi, the Proteas achieved their first win in Pakistan in 18 years. It was particularly special for someone like Kagiso Rabada, who made his debut in Mohali a decade ago but had yet to taste victory on the subcontinent outside of Bangladesh until yesterday. It was even sweeter due to Rabada’s sizeable contribution, with the fast bowler striking a match-winning 71 — the highest score by a Proteas No 11 — in a 98-run last-wicket stand with Senuran Muthusamy…

Hugo Ekitike scored against his old club as Liverpool got back on track with a 5-1 victory at Eintracht Frankfurt in the Champions League on Wednesday, while Chelsea, Real Madrid and Bayern Munich were among the night's other winners. The Anfield side came into their trip to Germany reeling after a run of four consecutive defeats, which included a 1-0 loss to Galatasaray in their last Champions League outing. They bounced back in style by coming from behind to hammer Eintracht, who suffered a second straight 5-1 defeat in Europe — having started their Champions League campaign with a 5-1 win. Rasmus Kristensen gave the hosts the lead, but Ekitike broke away to equalise against the team he left in July in a £79 million deal. Virgil van Dijk headed…

Fuels-from-coal giant first quarter update boosted by strategic announcements to core businesses Sasol became the biggest mover on the JSE Thursday after a first quarter update showed it was making good progress on delivering its Capital Markets Day plans to strengthen the foundation business amid global macroeconomic instability, global tariff and geopolitical tensions. The share price was trading 11.99% higher at R107.37 in the morning, a price that has risen sharply since as low as R53.01 in April 2025, before the fuels-from-coal and chemicals group announced strategies to revive its core businesses. “Performance across all our business segments remains within market guidance, and we are making good progress towards delivering on our 2026 financial year financial targets,” Sasol’s directors said in the update. In the Southern African business, the ramp-up…

South Africa just earned a record number of International Emmy® nominations — placing us third globally, behind only the United Kingdom and Brazil. It is a moment of celebration, but it should also be a moment of reflection. Because while we’re rightly proud of the recognition, we are overlooking the R50 billion opportunity hiding in plain sight. The Emmys are not simply a mark of artistic prestige. They are proof of what many of us have argued for years: the world doesn’t only want our minerals — it wants our stories, our culture, and our creativity. The demand is global, the appetite is real, and yet our policy frameworks and investment priorities still treat the creative industries as a side show rather than a growth sector. Look at the evidence.…

South African investors are increasingly recognising that traditional investment approaches alone may no longer deliver the returns and stability needed in today's complex markets. This shift has driven significant growth in structured products and alternative investments, with wealthy individuals leading the charge towards more diversified portfolio strategies. Recent data reveals that South Africans have invested R17.5 billion into structured products in 2024, marking a return to levels last seen in the 1990s. This surge reflects a broader trend towards portfolio sophistication, as investors seek security and certainty while maintaining growth potential. The investment landscape has transformed dramatically over the past decade. There's been this myth that alternatives are only reserved for larger portfolios and pension funds. But we're seeing a fundamental shift where investors understand that a truly resilient portfolio…

Raubex, the JSE-listed infrastructure development group, warned Thursday its headline earnings per share (HEPS) will be between 10% - 20% lower for the six months to August 31 compared with the same period last year. While this will translate in HEPS of between 227.4 cents and 255.9 cents, a decline in performance, the group’s management say they remain focused on long-term value creation, underpinned by a resilient business model and a clear strategic direction. “Despite the challenges during the first six months, the group remains confident about the outlook for the remainder of the financial year and the years ahead,” Raubex's directors said. The group also held a record order book. “We continue to see significant opportunities to further grow the order book, supported by positive developments in the South…

PLEDGES made at the KwaZulu-Natal investment conference are a sign of confidence in the recovery and growth of the province’s economy. That is the view of the provincial government after the pledges exceeded expectations. The pledges surpassed the target by more than R5 billion, reaching a total of R100.1bn. This amount is R5 billion more than the target and R100 million more than the province had hoped to receive. The province had aimed for R95bn in investment pledges. It is expected that these pledges will lead to the creation of close to 260 000 jobs during the construction phase of these projects and more than 60 000 permanent jobs once the projects begin operation. Projects worth between R100 million and R20bn are set to be implemented across the province. Among…

Minister of Justice and Constitutional Development Mmamoloko Kubayi has revealed that more than R35 million was paid in salaries to suspended employees within her department over the past five financial years. The disclosure followed a parliamentary question by RISE Mzansi MP Songezo Zibi, who asked for details on the reasons for suspensions, expected timelines for disciplinary hearings, and monthly payments made during suspensions. Kubayi said that during the third quarter of 2024, 22 employees were suspended, with ten of them suspended “for financial misconduct and maladministration based on the SIU report proclamation 7 of 2020 and the Forensic Audit Unit (FAU) of the Department of Justice and Constitutional Development (DOJ&CD).” The other twelve were suspended for various offences, including assault, bribery, corruption, fraud, gross dishonesty, insubordination, unethical behaviour, and unbecoming…

The frustration faced by mini-bus taxi owners in receiving their operating permits in KwaZulu-Natal due to delays by the Department of Transport (DOT) came under focus at the KZN Legislature yesterday. The debate comes after Durban was brought to a virtual standstill in September due to a strike by taxi operators over permit issues. Commuters were left stranded in parts of Durban after the South African National Taxi Council (SANTACO) went on strike. Members of the Provincial Legislature (MPLs) said they recognised the important role that mini-bus taxis played in the province and were concerned about the challenges taxi drivers face on a daily basis with law enforcement. Bongumusa Mkhize, an MPL and member of the uMkhonto weSizwe Party (MKP), brought a motion to discuss the matter, stating that the…

Twenty-one undocumented foreign nationals were apprehended, and 13 shops were closed during Operation Engangeni Ngesango Iyafohla in Durban yesterday. KwaZulu-Natal Premier Thamsanqa Ntuli, the South African Police Service, metro police, Home Affairs, and other stakeholders conducted the operation to address concerns raised regarding the employment of hundreds of undocumented immigrants in stores in the city centre. During the operation, police vans were filled with illegal immigrants, illicit goods were confiscated, and unlicensed stores were closed. Ntuli said the police conducted the operation to halt criminal activities in the province. “It’s a successful operation because they were able to discover 21 illegal immigrants and to close down 13 shops that were operating without permits, or rather with permits that have expired,” Ntuli said. He said that the established procedure for…

As South African football gears up for the 2026 Fifa World Cup, the country's national team, Bafana Bafana, finds itself at a pivotal moment. The head coach, Hugo Broos, a seasoned figure in the sport, is set to become the oldest coach in the tournament's history. With his 74th birthday approaching next April, discussions over his succession have become increasingly urgent, particularly in light of the national team's recent successes, including a third-place finish at the Africa Cup of Nations and qualification for the World Cup. Speaking candidly at a media roundtable in Johannesburg yesterday, Broos expressed his faith in assistant coach Helman Mkhalele as a potential successor, outlining the complementary relationship they have cultivated since 2021. “If Helman takes over from me, he can carry on our work and…

South Africa has reaffirmed its commitment to advancing the G20 Roadmap for faster, cheaper, more transparent, and more inclusive cross-border payments by 2027, as part of its G20 Presidency Finance Track priorities. Speaking at the opening of the second day of the G20 Conference on Cross-Border Payments on Thursday, South African Reserve Bank Governor, Lesetja Kganyago, highlighted the collective responsibility to modernise and integrate regional payment systems. “Cross-border payments are the lifeblood of international trade, investment, capital and remittance flows and economic integration. Despite their critical role, cross-border transactions remain far too costly, slow and opaque, especially in emerging markets and developing economies," Kganyago said. "As part of South Africa’s G20 Presidency, we have placed cross-border payments high on the Finance Track agenda. Our goal is to enrich the global…

JSE-listed 4Sight Holdings delivered a robust interim performance on the sustained adoption of artificial intelligence. For the first six months of the 2026 financial year ending August 31, 2025 revenue increased by 6.8% to R578.7 million. Operating profit increased 35.7 % to R48.3m. Gross profit increased by 15.3% from R220.4m, and gross profit margin increased to 43.9% in August 2025 compared to 40.7% in August 2024. This financial performance delivered an increase in basic earnings per share of 30.3% to 6.754c from 5.184c, and increased headline earnings per share by 30.2% to 6.753c from 5.185c. Tertius Zitzke, Group CEO of 4Sight Holdings, said on Thursday, “The increase is largely due to the sales mix, whereby professional services increased by 10.4% for the comparative period.” He said AIoT – the…

For years, I’ve maintained that tax disputes do not sit comfortably within the accounting profession. The latest wave of Sars (South African Revenue Services) enforcement proves exactly why. Tax has become more legal than numerical. The days when an accountant could file an objection by simply completing a form and attaching a few schedules are over. Sars has become procedurally aggressive - and unapologetically so. Every technicality is now an opportunity to reject, delay, or disallow. If you miss a step, you lose. And that loss isn’t academic; it’s financial. South Africa’s fiscal position has tightened dramatically. Treasury’s debt service costs are ballooning, growth is stagnant, and the political space for tax increases is gone. Sars is under immense pressure to deliver more with less, so it’s focusing on procedural…

Diversified mining and metals company South32 has announced that its chair, Karen Wood AM, will retire from the Board in February 2026, marking the end of an eight-year tenure that has overseen significant portfolio transformation and progress on sustainability. Following a formal succession process, the board has elected Stephen Pearce to succeed Wood as chair, effective February 2026. Pearce joined the board as an independent non-executive director in February 2025 and brings over three decades of financial and commercial experience in the global resources sector. Wood joined the South32 board in November 2017 and was elected chair in 2019. During her tenure, she served on the remuneration, sustainability, and nomination and governance committees, providing what the company described as “exceptional leadership and strategic oversight” through South32’s shift towards commodities critical…

Clicks Group faces a busy 2026 financial year as it plans to open 40 – 50 stores, and 40 – 50 pharmacies, as well as 10 - 15 Unicare specialised pharmacies over a longer period. The health and beauty retailer's results for the year to August 31, 2025, showed Thursday that in the past year, its store base expanded to over 990, following the opening of a net 55 stores, and the national pharmacy network was expanded to 780 with the opening of a net 60 pharmacies. “The group once again demonstrated the resilience of its core product offering in a weak trading environment, delivering growth across its strategic pillars of value, convenience, differentiation and personalisation,” CEO Bertina Engelbrecht said. In the new financial year, Clicks’ management aims to leverage…

FORMER police minister Bheki Cele yesterday confirmed knowing “very well” attempted murder–accused tenderpreneur Vusimuzi “Cat” Matlala, but not controversial businessman Brown Mogotsi. Cele said he first met Matlala in Durban after Bongani Mpungose, a son of a KwaZulu-Natal businessman, arranged for a meeting. He was responding to questions from the parliamentary inquiry’s chief evidence leader, Advocate Norman Arendse, SC, who was leading evidence at the inquiry probing allegations made by KwaZulu-Natal Police Commissioner Nhlanhla Mkhwanazi. The inquiry is also probing political interference in the work of the SAPS. Arendse first asked Cele whether he knew Mogotsi, and he denied knowing him other than “because he was quite big in the media” lately. He also said Mogotsi was not even on his Whatsapp. When asked whether he knew Matlala, Cele’s response…

THE Railway Safety Regulator (RSR) recently tabled its Annual State of Safety Report (ASoSR) for the 2024/25 reporting period which showed that 81 people died and 336 were injured in rail related incidents. RSR CEO Brian Monakali led a panel discussion featuring industry leaders, including the CEOs of Transnet Freight Rail, Transnet Rail Infrastructure Manager, the Gautrain Management Agency, and the Group CEO of PRASA, reflecting on the annual safety achievements and the obstacles still ahead. This year’s report indicates that the sector recorded 9,200 safety-related occurrences, representing a commendable 7.2% decrease from the previous year. Yet, this positive figure is clouded by a significant 10.9% increase in operational safety incidents, now standing at 10.1% above the five-year average. These incidents are largely attributed to deteriorating infrastructure and signalling failures.…

Talking openly about depression still seen as weakness IN COMMEMORATING Mental Health Month, ours should be a dual-focus reflection on the silent workplace crisis and the challenge of mental health. The old foe remains: stigma. Globally, one in every eight people lives with a mental health condition. In South Africa, about a quarter of employees will experience a mental health disorder during their working lives. Yet only a small fraction,15% to 25% will seek help. When employees in South Africa’s public service experience a mental breakdown, the journey back to work is often far harder than the illness itself. New research from the University of Fort Hare reveals that while mental health awareness has grown, many workers still face stigma, self-doubt, and a lack of workplace support when they return.…

Durban City coach Gavin Hunt is hoping his side can ride the wave of “Carling Knockout Cup magic” as they prepare for a tough quarterfinal showdown against Richards Bay at the Mhlathuze Sport Complex tomorrow at 3pm. Since the competition’s rebranding under Black Label, the tournament has built a reputation for upsets — a platform where smaller teams have shone brightest. Stellenbosch FC and Magesi FC were the last two champions, lifting the trophy in back-to-back seasons despite being considered underdogs. For Hunt, who has seen and won it all in South African football, that unpredictability is exactly what makes the Carling Knockout special. “In South Africa, especially this cup, there’s a lot of smaller teams that have gotten through to the latter stages, and so we’ll see where that…