Innehållsförteckning för 2025-05-28 från Mercury

Harmony’s acquisition of CSA Copper cements company’s diversification strategy Harmony Gold’s acquisition of the CSA Copper mine in Australia for R18.4 billion has cemented the company’s diversification strategy and foray into copper. Copper, deemed a future proofing mineral, has been the center of merger and acquisition activity among South African and global miners. Now, Harmony Gold, with its diverse footprint of gold in South Africa, is intensifying its exposure in copper. “The large brownfields projects being pursued by the group are all in copper, signifying Harmony Gold’s strategy to diversify away from gold. However, Harmony will predominantly remain a gold producer even after the slated developments are scheduled to come on-stream,” Robbie Proctor, an investment analyst at Anchor Capital, told Business Report on Tuesday. The company entered into a binding…

Cosatu has said the proposed One Stop Border Bill's silence on the uncontrolled explosion of illegal migration and exports flooding into South Africa threatens local jobs, businesses, value chains, and revenue needed to fund public services. This is as the federation also criticised the Department of Home Affairs' reneging on an agreement to table the Bill at Nedlac for engagement with social partners. In submissions to the Portfolio Committee on Home Affairs on the One Stop Border Bill on Tuesday, Cosatu, along with the Catholic Parliamentary Liaison Office, raised concerns about the rampant corruption at various border posts. Cosatu Parliamentary spokesperson Matthew Parks said administrative areas of concern included the silence on specific roles of the Border Management Agency (BMA), South African Revenue Service (Sars), the South African Police Service,…

Despite the controversial debates doing the rounds on the President Cyril Ramaphosa and US President Donald Trump meeting at the Oval Office, Ramaphosa and team deftly manoeuvred themselves and notched some wins in a very difficult mission. South Africa’s objective was a reset of the relations with the United States though the issue on the table was some “so-called genocide”. Obviously, the genocide accusation could be a red herring as there are underlying dynamics, which include Starlink, Russia and China, the BRICS fraternity and, without doubt, South Africa taking Israel, a key US ally, to the International Court of Justice. Getting back to the meeting, many had feared a repeat of Trump’s treatment of Ukraine’s Volodymyr Zelenskyy. There was no humiliation. After all, Ramaphosa had tactically included in his team…

The F20 Climate Solutions Forum convenes in Cape Town from May 27–28, 2025, when the urgency to mobilise climate finance has never been more pronounced and the climate crisis and the economic wars more than ever protracted Under the theme ‘Trust. Transition. Transformation: Building Relationships for Climate Solidarity’, the Forum was an opportunity to shape an agenda that accelerates the implementation of the Sustainable Development Goals (SDGs) and advances Africa’s priorities in the G20 dialogue, as a pre-cursor engagement complementing South Africa's G20 Presidency’s rallying call for "Solidarity, Equality, and Sustainability". South Africa, much like other emerging economies, faces a complex climate finance landscape, with much higher investment needed than what is currently available. High capital costs coupled with shifting global geopolitical priorities make attracting climate finance for large-scale climate…

Bidcorp, the global foodservice giant, in a trading update on Tuesday said constant currency headline earnings per share were up 10% for the period ending April 2025, showcasing resilience in a challenging economic landscape marked by subdued consumer spending and persistent inflationary pressures. The company reported a 10% year-to-date growth in constant currency trading profit, navigating near-zero food inflation and currency volatility that dented rand-translated results by 3.8%. The update highlighted a 10% increase in constant currency headline earnings per share (Heps), surpassing the record performance of the prior year. With more than 90% of operations outside South Africa, Bidcorp cited constant currency metrics as the true gauge of its performance. Revenues hit record levels, up 6.7% in constant currency from the stellar 2024 comparative, with organic growth at 4.6%…

Critics voice concerns about the implications for transformation and equity Communications and Digital Technologies Minister Solly Malatsi faced fierce criticism yesterday as he defended the policy direction to relax broad-based economic empowerment (B-BBEE) regulations in the Information and Communications Technology (ICT) sector. During a briefing with the Communications and Digital Technologies Portfolio Committee, Malatsi reiterated his commitment to the principles of transformation in South Africa, stating that the new policy does not aim to create exceptions for specific companies or individuals. Malatsi, who highlighted the ongoing efforts to introduce an equity equivalent investment programme in the ICT sector, clarified that his department’s work predates recent international developments, specifically referring to last week's visit to Washington by the South African delegation led by President Cyril Ramaphosa. Although critics suggest that the…

Corruption Watch has urged the Public Protector to investigate the systemic failures of Farm Worker Equity Schemes (FWES), alleging ongoing injustices against farm workers. The organisation said it has received various reports from community-based organisations regarding FWES’s failure to achieve its objective of contributing to land reform. The project was introduced 30 years ago following the change to a democratic government and was designed to empower farm workers by giving them shared ownership of commercial farms. The Department of Agriculture, Land Reform and Rural Development (DALRRD) implemented the project. Since last year, the department has been split into Agriculture with John Steenhuisen as Minister and Land Reform and Rural Development with Mzwanele Nyhontso as Minister. Corruption Watch said the initiative has failed, leaving many workers without the benefits they were…

Tourism experts have warned that South Africa’s hospitality and business sectors must move away from a mindset of underselling their brand to the world, especially in light of recent comments at the White House claiming the country is a “violent nation.” Last week, the world watched as President Cyril Ramaphosa’s delegation to the Oval Office sought to counter narratives suggesting genocide in South Africa. During the meeting, delegation members took turns explaining the country’s ongoing violence, a move that some believed complicated Tourism Minister Patricia de Lille’s efforts to attract more visitors and boost the nation’s economy. The meeting followed controversial allegations by President Donald Trump, who linked South Africa to “genocide” and made a decision to offer refugee status to minority Afrikaners, claiming they faced persecution. Some experts and…

The driver involved in a bus crash, in which three people were killed yesterday, is in hospital under police guard. The fully-laden bus was travelling on the R102 Old Main Road in oThongathi (Tongaat) when it veered off the bridge crashing near a stream underneath it. The victims are from Ward 62 in Burbreeze. According to the KwaZulu-Natal Department of Transport and Human Settlements, the bus driver reported that the vehicle's brakes had failed prior to the crash. MEC Siboniso Duma said nine patients, seven men and two women, were admitted to a local public hospital. “The victims are receiving treatment under observation. They are in a critical but stable condition,” Duma said. He said six more patients were taken to a local private hospital. “One patient was attended to…

Enzo Maresca is a man with a point to prove as he targets football history for Chelsea in Wednesday’s Uefa Conference League final against Real Betis. Victory in the final round of their English Premier League match at Nottingham Forest on Sunday secured qualification for next season’s Uefa Champions League. Now Maresca’s thoughts turn to Wroclaw and the chance for Chelsea to become the first team to win all five of Uefa’s major men’s club competitions. The Blues have twice won the Champions League, Europa League, Super Cup and the defunct Cup Winners’ Cup and can now complete the set if they overcome Betis in the final of Europe’s newest competition in Poland. Maresca has had a rollercoaster first season in charge at Stamford Bridge after replacing Mauricio Pochettino. His…

The journey to a possible rugby version of the Club World Cup got off to a shaky start last week. The Telegraph newspaper in London, who has previously reported on the progress of such a tournament, wrote last Friday that a 16-team event was set to be held at the end of the 2027-28 season. Those developments came out of talks in Cardiff ahead of the Challenge Cup and Champions Cup finals in Cardiff last weekend. Then the organisers, the EPCR (European Professional Club Rugby), sent out a belated media statement on Saturday, with the headline: “EPCR Chairman Dominic McKay confirms Rugby World Club Cup to launch in 2028, with support from all unions and both hemispheres.” McKay went on to add that the EPCR have been speaking about a…

President Cyril Ramaphosa, speaking at the 2025 Sustainable Infrastructure Development Symposium South Africa (SIDSSA) in Cape Town, described infrastructure as the “flywheel” of economic growth and job creation. He outlined plans to leverage infrastructure to drive progress, reduce inequality, and position South Africa as an investment destination. “Infrastructure is fundamental to our country’s development,” Ramaphosa said, noting its role in boosting trade and reducing business costs, especially with the African Continental Free Trade Area’s 1.3 billion-person market. He highlighted the Construction Book 2024/2025 by Infrastructure South Africa (ISA), detailing 250 fully funded projects worth over R238 billion, a record for public investment in roads, energy, water, logistics, and social infrastructure. Public infrastructure spending is projected to exceed R1 trillion over the next three years, the fastest-growing budget item. However, financial…

Minister for Minerals and Petroleum Resources Gwede Mantashe said South Africa is initiating discussions with Zambia and Zimbabwe on the possibility of running the electricity transmission line from the Democratic Republic of Congo (DRC) under the Grand Inga project, through which 2 500 megawatts are envisaged for the country. Mantashe was responding to questions from members of the Portfolio Committee on Minerals and Petroleum Resources on Tuesday, who had asked about the status of the project and what the country was doing to harness regional collaboration following the decision to postpone participation in the project. "The Grand Inga project is not ours; it’s a DRC project, given to the Spanish and Chinese. We have a right to buy equity in it, which would have to be approved by the DRC.…

Efforts to boost tourism in South Africa have seen significant gains as the Minister of Home Affairs, Dr Leon Schreiber, on Tuesday announced, that through the Trusted Tour Operator Scheme (TTOS) digital platform, 11 144 tourists from China and India obtained digital visas through the scheme in three months. The department said that the volume of applications grew consistently from an average of 50 per day in March to 135 per day in April and to 210 per day in May thus far. "These are tourists who otherwise would not have come to South Africa, given the challenges previously experienced with obtaining visas for tour groups from China and India," the department stated. The latest research facilitated by Operation Vulindlela showed that one new job is created for every…

As the global energy sector races to meet net-zero commitments, utility-scale solar is undergoing a fundamental transformation. No longer defined by megawatt capacity alone, solar projects are now being evaluated on their ability to deliver dispatchable power, enhance grid stability, and provide critical ancillary services. Nowhere is this evolution more pronounced than in Africa, particularly South Africa, where the Just Energy Transition is accelerating the shift towards resilient, grid-integrated renewable energy. “Across the continent, and especially in South Africa, we’re seeing a strategic move away from variable-only generation,”Jaco Uys, SVP Projects Sub-Sahara Africa at Scatec said. “What matters now is whether a project can deliver clean energy consistently on demand day or night. This means thinking beyond solar panels, to fully integrated energy systems,” Uys said. South Africa’s Eskom-constrained grid…

Coronation Fund Managers, the independent majority black-owned asset management company, lifted its interim dividend by 8.1% to 200 cents a share for the six months to March 31 over the same time last year after 92% of its investment funds outperformed their benchmarks since inception. Revenue increased by 8% to R2.04 billion. Total assets under management (AUM) increased marginally to R676bn (September 30, 2024: R667bn), while average AUM increased by 9% to R677bn (March 31, 2024: R619bn). “We have delivered solid interim financial results under challenging circumstances. Our clients continue to benefit from our globally integrated research capability, active asset allocation and stock picking, as well as excellent client service,” chairperson Alexandra Watson and CEO Anton Pillay commented in the results statement. “Long-term outperformance in our South African portfolios remains…

a large Southern elephant seal was spotted wandering through the streets of Gordon’s Bay, Western Cape yesterday morning, nearly a kilometre from the shoreline. The marine mammal was safely returned to the sea by the afternoon. Stunned residents first noticed the massive elephant seal around 6am and began filming the unusual encounter. Videos and photos online showed the visibly fatigued seal moving slowly along tarred roads, even propping its upper body on a parked vehicle. By 8am, officials from the Cape of Good Hope SPCA had arrived at Sir Lowry’s Pass Road, where the animal had settled in a residential area. Efforts were immediately launched to ensure the seal’s safety and eventual relocation. SPCA spokesperson Belinda Abraham said inspectors had devised a safe, low-stress plan to return the elephant seal,…

A Johannesburg woman, who was found murdered after she was picked up by her date, had told her relatives to search for her if she didn’t return from the outing. Olorato Mongale, 30, was found murdered near Lombardy, north of Joburg. The police have now launched an urgent manhunt for a man known only as John who is believed to have picked her up. The suspect is believed to be driving a white VW Polo bearing a cloned number plate – LT 57 JG GP – which is registered to a Toyota Hilux. Police spokesperson Brigadier Athlenda Mathe said Mongale was last seen on May 25 after being picked up from her residential complex by a man driving a white VW Polo, with whom she had planned a date. That…

Former KwaZulu-Natal Athletics (KZNA) president Sello Mokoena is preparing for another bid for the top position at the athletics body, just as he did for countless races during his running career. “I’ve been a runner all my life, for 40 years at least, and I always started a race confident that I’d win – and in most cases, I did,” he said. There are cases where I didn’t win, and those are very rare. If I didn’t win, I went back, I prepared, and I came back again. Elections are exactly the same. “In terms of our campaigning in the districts, we don’t expect much competition. We think we’re likely to win.” Mokoena was elected KZNA president in 2012 and served for seven years before stepping down in 2019. The…

BARELY a year into her ODI career, South Africa’s newest star – all-rounder Annerie Dercksen – has taken the cricketing world by storm. Having impressed with raw pace with the ball and unmatched power with the bat, the 24-year-old has developed at an exponential rate over the past 10 months, as she is now one of the key players in the Proteas women’s squad. Her returns in the recent tour of Sri Lanka, in a Tri-series against the hosts and India Women last month, Dercksen finished as the leading run-scorer with 276 runs in four innings, including a maiden century and two half-centuries, as she displayed maturity despite being relatively new to the format. Batting coach Baakier Abrahams told Independent Media on Tuesday in an exclusive interview that Dercksen’s rapid…

Inter Milan might not be favourites for the Uefa Champions League final, but their thrilling run to Saturday's showdown with Paris Saint-Germain has shown that the ageing Italian outfit can mix it with the best. Simone Inzaghi’s team head to Munich with a legitimate shot at going one better than in Istanbul two years ago, when a very similar line-up was narrowly beaten by Manchester City. Inzaghi considered the 2023 final a missed opportunity after matching mega-rich City, whose budget dwarfs that of Inter, a member of Europe’s old guard battling to keep pace with the continent’s superclubs. Qatari-owned PSG offer Inter the chance to exorcise the ghost of Istanbul while also ending an enthralling season with the most prestigious piece of silverware in club football, having missed out on…

Senior coach Steve Komphela says Mamelodi Sundowns must remember what helped them overcome past challenges as they head into the final stretch to reclaim the CAF Champions League. Sundowns will face Pyramids in the second leg of the final at the 30 June Stadium in Cairo on Sunday night (kick-off 7pm). The Brazilians travel to Egypt on the back foot, having conceded during their 1–1 draw with Pyramids in the first leg, giving the Egyptian side a valuable away goal. Lucas Ribeiro opened the scoring for the hosts early in the second half, but a lapse in concentration saw Walid El Karti net a late equaliser for the visitors. However, if any team can score and possibly win outright in North Africa, it’s Sundowns. During their impressive run on the…

Africa's economic output is expected to grow by 3.9% this year, the African Development Bank said in its annual African Economic Outlook report on Tuesday, quickening from last year's pace of 3.3%. However, this year's forecast, which covers economies of all its 54 member states, represents a 0.2 percentage points downgrade from the bank's initial forecast, the development lender said during its annual meeting in Ivory Coast, mainly due to the shocks caused by new trade tariffs imposed by the US. The bank, which is Africa's biggest development lender with $318 billion (R5.7 trillion) in capital, also cut its initial 2026 growth forecast by 0.4 percentage points to 4.0%, citing the same uncertainty from trade tariffs. "Since January 2025, the world has experienced additional shocks, exacerbating an already complex global…

The Conduct of Financial Institutions (COFI) Bill, soon to be submitted to Cabinet, is a critical opportunity to address arbitrary bank account closures in South Africa. These closures threaten economic stability, undermine fairness, and grant banks unchecked power to act as de facto regulators of public and private life. However, the Bill in its current form fails to adequately protect the right to bank. I urge parliamentarians to scrutinise this legislation and demand reforms that enshrine procedural fairness, as recommended by the Zondo Commission and grounded in the audi alteram partem principle. Cabinet must address these shortcomings by ensuring the COFI Bill incorporates robust protections, including the right to a fair hearing, as recommended by the Zondo Commission and supported by the audi alteram partem principle. The audi alteram partem…

Driven by bold policy reforms, improving Eskom performance and a surge in public and private renewable energy projects, South Africa's energy landscape is undergoing a dramatic turnaround, moving from crippling power shortages to a more resilient and diversified energy system The energy transition's rewards National Energy Month creates a moment to reflect on these gains, as well as other signs of progress. The energy transition has created thousands of jobs, and the Energy & Water Sector Education Training Authority (EWSETA) has thus far supported 3,657 unemployed learners with access to energy sector programmes. South Africa's energy crisis has primed the country to take advantage of global energy trends. One example is the growing affordability and capacity of battery energy storage system (BESS) solutions. These make it more feasible for industrial,…

Pepkor Holdings’ traditional retail businesses delivered a strong trading performance in the six months to March 31, expanding market share, and the group is optimistic about its second-half prospects. Pepkor reported 18.9% growth in normalised headline earnings a share to 84.3 cents for the period, driven by a consistent retail performance, good growth in fintech, and strict cost control. “Pepkor remains optimistic about the future despite a challenging macroeconomic environment in South Africa. The group anticipates downward-trending inflation, reduced load shedding, and the two-pot retirement system will provide some relief for consumers,” CEO Peter Erasmus said at the release of interim results on Tuesday. “Despite the subdued and competitive market, we continued to deliver excellent growth, and we’re confident our consistent performance and growth in FinTech will continue to underpin…

Datatec, the international information and communications technology (ICT) group, lifted its final dividend to 200 cents for the year ended February 28 versus 130 cents at the same time last year after solid profit improvements in its biggest subsidiaries. The dividend policy was being changed to a more shareholder-accommodative two times dividend cover ratio, versus three times cover previously, due to a management incentive plan in some of the divisions that has resulted in upstreaming of cash to the parent company in the form of returns on fixed return equity instruments, resulting in more cash at the parent company. "I am pleased to report a very strong operating and financial performance across all regions and metrics for the group," chief executive Jens Montanana said in the results. He said the…

Standing on the Miss World 2025 stage, Zainab Jama, Miss Somalia, delivered a deeply emotional testimony that moved many to tears. Speaking during the “Head-to-Head” challenge, Jama recounted being forced to undergo female genital mutilation (FGM) at the age of seven. Her story, painfully detailed and courageously told, highlighted a tradition that continues to harm millions of girls around the world. Now living in the UK, Jama is using her platform to advocate for the end of this brutal practice. FGM encompasses procedures that involve the partial or total removal of the external female genitalia. According to the World Health Organization (WHO), more than 230 million girls and women alive today have been subjected to FGM, with more than four million girls at risk each year. Born in Somalia,…

PRIME LAND worth about R200 million that was handed over to community members in a land claim in KwaDukuza is now the subject of infighting among the beneficiaries. Members of the Zwelabantu Dube Communal Property Association (CPA) are embroiled in a dispute amid allegations of improper conduct and financial mismanagement of the land. Some members of the CPA said since the claims were settled in 2009, the community has not benefited, and the land has instead been stolen through illegal occupation and the sale of valuable seaside land. Recently, the Portfolio Committee on Land Reform and Rural Development visited the area as part of its tour of CPAs in the province. The committee expressed concerns that the government had invested millions of rand into the claim, calling for an investigation…

The ANC leadership in KwaZulu-Natal has commended the Ubuhlebezwe Local Municipality in Ixopo, south-west of the province, for renaming the municipality after the party’s late Struggle hero, Johannes Phumani Phungula. Speaking at the official unveiling of the new municipality name and logo bearing Phungula’s name and his picture, ANC convener Jeff Radebe commended Mayor Thobile Ngubo and her council for the decision, saying it was an honour to the ANC, Phungula, and his family. Radebe described Phungula as a disciplined freedom fighter who contributed immensely to the liberation of black people who were oppressed by the apartheid government, both as a party member and an uMkhonto weSizwe (MK) commander in exile. “As the ANC, we wish to commend the municipality for its decision to honour this Struggle veteran. We call…

Sentencing proceedings began in the Joshlin Smith kidnapping trial yesterday. The State called its first witness – a US-based human trafficking expert. Jacquen ‘Boeta’ Appollis, Steveno van Rhyn, and Joshlin’s mother Kelly Smith were last month convicted of human trafficking and kidnapping in connection with the six-year-old’s disappearance. The little girl went missing on February 19, 2024. She has not been found to date. The trio is expected to learn their fate this week as sentencing proceedings are under way. Dr Marcel van der Watt, who is based in the US, delivered his testimony via Microsoft Teams to the court. With 23 years of expertise in the field, van der Watt, a former police officer in South Africa, has assisted the Family Violence, Child Protection, and Sexual Offences Unit,…

PRESIDENT Cyril Ramaphosa may have to think twice before including DA leader John Steenhuisen in official visits after his poor performance characterised by political posturing during the heated Oval Office meeting in the US last week. Ahead of his visit to the US as part of Ramaphosa’s delegation, Steenhuisen promised that the highest issues on his priority list would be securing trade relations between the US and SA, particularly in agriculture, to protect jobs, grow the economy and expand employment opportunities. “This delegation to Washington DC represents all South Africans, who have entrusted us to put the shared national interests, and desire for economic growth and job creation first, ahead of any party, or ideological positions. As a proud member of this GNU delegation, I will endeavour to ensure…

Manchester United manager Rúben Amorim is running out of excuses as he braces for a rebuild he hopes will result in a squad capable of delivering the success he enjoyed playing with his preferred formation at Sporting CP. United have lurched from one disaster to the next under the Portuguese manager, who led them to a dismal 15th-place finish in the league. He even threatened to walk away if the United hierarchy wanted him to go, after the club lost last week’s Europa League final against Tottenham – and with it, the opportunity to sneak into the Champions League through the back door. He later backtracked. At his pre-match press conference on Saturday, Amorim insisted that this season’s mistakes would not be repeated next term. “In this moment, I am…

South Africa’s Dewald Brevis has thanked the Chennai Super Kings (CSK) franchise and their fans after completing a short but impressive stint in this season’s IPL. Brevis, who joined CSK midway through the season as an injury replacement, scored 225 runs in six matches at a blistering strike-rate of 180 and an average of 37.50. His performances were among the few bright spots in what proved to be a disappointing season for the five-time champions, who finished bottom of the table for the first time in their history. Taking to social media yesterday – two days after CSK ended their campaign with a win over the Gujarat Titans – the 22-year-old posted an emotional message. He expressed his gratitude to the management, support staff, and teammates for their warm welcome…

YesTERday, the PSL rescheduled the abandoned Betway Premiership match between SuperSport United and Golden Arrows — a staggering three months after its initial postponement. This curious twist of fate has stirred controversy and left many questioning the league's commitment to their own rules, after the PSL appeared to throw their NSL Handbook out of the window with this call. The handbook is the definitive guide to match protocols and regulations, dictating a more timely resolution to such interruptions as loadshedding. The original encounter took place in late February. It was interrupted at half-time, with both teams locked in a stalemate at 1–1, when the stadium lights unexpectedly went out, plunging the game into darkness. Under Rule 14.16 of the NSL Handbook, it is stipulated that matches interrupted by loadshedding or…