Business Day
Police integrity in tatters as top cop faces scrutiny
South Africa’s security cluster faces an unprecedented crisis of integrity as three of the country’s top police officials are now embroiled in allegations of corruption and links to the criminal underworld. National police commissioner Gen Fannie...
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Eskom ruling shines light on SOE deals
The government’s annual R1-trillion procurement spend, led by its key state-owned entities (SOEs), will come under increased public scrutiny following a key ruling by the Supreme Court of Appeal (SCA). The ruling sets the bar higher for government...
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JSE bleeds at a pace last seen in 2008
Despite a volatile session that ended in positive territory yesterday, the JSE remains on track for its worst month since the 2008 financial crisis as the Iran war drives inflation fears and a sell-off in mining and banking stocks. After the price of...
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SA tightens rules on imports from China
South Africa will require many unregulated imports from China to meet local safety standards under a new directive issued by trade minister Parks Tau. In a significant pointer that it is changing the way it does business, South Africa has taken steps...
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SA slaps hefty tariff on Chinese structural steel
South Africa has imposed a substantial antidumping tariff on structural steel from key trade partner and geopolitical ally China, along with Thailand, in a bid to protect the local industry. The move comes after imports from the Asian superpower and...
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Eskom warns of R240bn debt surge
Eskom has warned MPs that municipal debt might surge by as much as R240bn in the next five years if nothing is done to find a solution to the problem, complicating its unbundling efforts. The utility’s top brass yesterday told MPs that municipal debt...
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Treasury frees up more funds to fight outbreak
The National Treasury has exempted the agriculture department from certain provisions of the Public Finance Management Act, allowing it to reallocate funds from other programmes to combat foot-and-mouth disease (FMD). The devastation of the cattle...
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Retailers urged not to hike food prices
South Africans are bracing for higher food prices as rising global oil costs push up production expenses, but industry players warn against hiking prices on existing shelf stock that is unaffected by the conflict. The high cost of food, particularly...
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Treasury cracks down on metros
The National Treasury is cracking down on municipalities that are underperforming on their budgets after figures from the second quarter of the 2025/26 financial year pointed to underspending by many, including in the critical water management...
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Business, state aligned on impact of Iran war
Paul Hanratty, CEO of Africa’s largest insurance group, Sanlam, has warned of the devastating consequences for consumers and businesses if the Middle East conflict is prolonged, saying this will hurt financial markets and constrain growth. “If this...
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War in Iran throws GDP forecasts into turmoil
South Africa’s GDP growth quickened slightly in the final quarter of 2025 but overall growth for the year came in below the Treasury’s predictions, with turmoil in the Middle East also likely to throw this year’s forecast out the window. But while...
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Mideast model sees R40bn loss for SA
The rand might weaken to as much as R17.63/$ this year if the raging conflict between the US, Israel and Iran continues for six months or more, according to a model by professional services firm EY-Parthenon. The firm also says South Africa’s economy...
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Middle East war is hurting business in Western Cape
Western Cape exporters and the agricultural sector are already feeling the effects of logistical disruptions and rising input costs as a result of the Middle East war. Cape Chamber of Commerce and Industry president Jacques Moolman highlighted cargo...
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Godongwana loses power to alter VAT
The Western Cape high court has found the Value-Added Tax Act, which empowers finance minister Enoch Godongwana to amend the VAT rate, unconstitutional. “It is declared that section 7(4) of the ValueAdded Tax Act 89 of 1991 is inconsistent with the...
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NHI planning goes on, says Motsoaledi
The health department is continuing with its preparations for National Health Insurance (NHI), undeterred by last week’s high court ruling, health minister Aaron Motsoaledi told parliament yesterday. NHI, the ANC’s controversial plan for universal...
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PIC seeks fixers to turn around troubled portfolio
The Public Investment Corporation (PIC) is looking to rope in a panel of management turnaround experts in a last-ditch effort to turn the corner on its problematic multibillion-rand unlisted portfolio, particularly the property division, which has...
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War in Iran raises SA fuel cost risks
South Africa and other emerging markets are bracing for higher energy costs after US-Israeli strikes on Iran jolted oil markets, raising fears of prolonged price spikes and renewed inflation pressure. The attacks have thrown the Middle East’s...
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Bookmakers push back against 39% effective tax
South Africa’s licensed bookmakers are pushing back against the 20% gambling tax proposed by the National Treasury to curb the surge in betting, arguing it will cause an effective tax rate of up to 39% for the industry and drive businesses in the...
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FMD disaster rattles fast food
South Africans are set to pay more for beef and pork as foot-and-mouth disease (FMD) disrupts the meat value chain and fast food restaurants pass the price hikes on to consumers. The surge in beef and pork prices is also likely to have a negative...
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Tax U-turn brings relief, market calm
In a budget that mixed relief and restraint, finance minister Enoch Godongwana used a sudden revenue windfall to ease taxes on households and calmed markets by trimming the growth in debt service costs. The package builds on the prudent fiscal...
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SA reputation takes hit in Cape Town airport fiasco
Cape Town International Airport, the nerve centre of South Africa’s tourism and business travel, was dealt a blow yesterday when a fire diverted international flights and delayed dozens of domestic flights. The incident, which occurred at 11.15am,...
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Spar seeks to stagger payments to suppliers
Wholesaler Spar has asked suppliers to stagger payments, citing cash flow considerations as the group grapples with weak sales and deteriorating margins. In an email sent to suppliers in KwaZulu-Natal, reliably obtained by Business Day, Spar requested...
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Technical skills run dry at SA’s water boards
Engineers or water specialists account for just 21% of non-executive directors across seven water boards, raising questions about whether those charged with safeguarding the country’s ageing bulk water infrastructure possess the technical know-how as...
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Cipla joins Aids drug tender battle
The health department’s controversial Aids drug tender is under a fresh attack. Pharmaceutical company Cipla has filed an application in the high court in Pretoria seeking to scrap the R15.5bn contract, alleging it was unfairly excluded from the...
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Glencore is confident Eskom will slash tariff
Glencore CEO Gary Nagle is confident that Eskom will meet the group’s demand for a 54% tariff reduction by month-end, levelling the playing field with Chinese ferrochrome smelters. “We sit here confident that we will get a very competitive tariff from...
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Slip in jobless rate masks failing engines of growth
South Africa’s economic powerhouses, Gauteng and KwaZulu-Natal, are shedding jobs at a pace that deepens concerns about the country’s shrinking industrial base, even as the national unemployment rate edged lower. Stats SA data shows that Gauteng and...
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Sugar: salvation for sector on the brink
Minister of trade, industry & competition Parks Tau has handed the embattled sugar industry greater autonomy to rein in cheap imports in one of the biggest regulatory reforms of the sector in a generation. The move comes as the industry’s bastion,...
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Bond yields hit decade lows in boon for fiscus
The yields on South Africa’s longer-dated 20- and 30-year government bonds are on track to go as low as 8% this year, while that of the 10-year could drop to 7.5%, providing the National Treasury with enough wiggle room to significantly reduce its...
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Crime gangs in crosshairs
President Cyril Ramaphosa says the government will this year prioritise rooting out organised crime and dismantling gangs. Part of the plan includes tightening of gun laws and re-vetting of senior police officers and subjecting them to lifestyle...
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IMF: global shocks still a risk for SA
The IMF says risks to South Africa’s economic outlook remain skewed to the downside, citing weaker global growth driven by geopolitical tension, rising trade barriers and prolonged policy uncertainty. The fund says in its article IV consultation...
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Capital structure as a strategic advantage for mining investments.
Capital discipline, not geology, is becoming the differentiator in global mining. Capital is becoming the critical differentiator in mining as long lead times, rising costs, and selective investors push companies to rethink how projects are...
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Competing for margin in a high-cost world.
At times, clarity is more valuable than capital itself – it often protects it. Excessive optimism during a bull market can lead to overvalued acquisitions, rushed investment decisions or commitments to projects prove unsustainable once market...
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Social license to operate.
While miners must secure the legal license to extract precious metals, they also require a social license. Communities are integral to value creation, as their involvement and wellbeing directly influence the sustainability of mining operations. This...
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Hill-Lewis weighs DA leadership
Cape Town mayor Geordin Hill-Lewis has told his caucus he is “seriously considering” running for DA leader after John Steenhuisen announced he will not seek re-election. Steenhuisen confirmed yesterday that he will not seek a third term as DA leader,...
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Steenhuisen expected to step back
John Steenhuisen is expected to announce his withdrawal from the DA’s leadership race today, a move that is likely to ignite a fierce contest to replace him. The party, the second largest in parliament, is expected to hold an elective conference in...
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Metros point finger after JSE warning
Three of South Africa’s largest metros have laid the blame squarely at the door of the auditorgeneral after the JSE warned yesterday it would suspend their bonds if they fail to submit audited financial statements by end-February. The cities of...
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Israel has it wrong on ambassador, says SA
Israel’s declaration of South Africa’s ambassador to Palestine, Shaun Edward Byneveldt, as persona non grata is based on misrepresentation of facts, the department of international relations & co-operation contends. On Friday the department announced...
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Nersa grants tariff relief to save 24,000 jobs
The National Energy Regulator of South Africa (Nersa) has granted South Africa’s ferrochrome majors, Samancor and Glencore-Merafe Chrome Venture, a hefty 35% electricity relief in a desperate measure to save the country’s smelters and thousands of...
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Mozambique holds key to 2028 gas cliff
The South African and Mozambican governments are discussing three projects in Mozambique in a bid to avoid a critical shortage that could lead to a “gas cliff” as South African industries are stranded without additional supply. South Africa is...
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IDC to sell stake in uranium mine co-owned with Iran
The Industrial Development Corporation (IDC) aims to dispose of its stake in Namibian uranium miner Rössing, which it co-owns with China and the under-fire Iranian government. Rössing, majority owned by the Chinese stateowned China National Uranium...
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State dangles carrot in form of BEE points
The government is preparing to launch a revamped Transformation Fund as early as next week, rewriting incentives that have shaped corporate behaviour for more than two decades. A trade, industry & competition ministerial briefing pack, seen by...
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Ageing taxpayer base a fiscal risk
South Africa’s tax receipts are increasingly concentrated among older cohorts and a handful of large firms, exposing the fiscus to demographic risk as a generation of young people struggles to find well-paying work. Data from the South African Revenue...
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State Aids drug suppliers fall into business rescue
Two of the pharmaceutical companies that won a slice of the health department’s latest Aids drug tender are in business rescue and have been unable to reliably supply the state. Avacare Health subsidiaries Barrs and Innovata, which last year each won...
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SA ‘genocide’ a red herring
US President Donald Trump yesterday repeated claims of a “white genocide” in South Africa, creating an unwanted distraction to the country’s investment drive in Davos, Switzerland. Finance minister Enoch Godongwana is leading a high-level delegation...
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Fossil fuels feast on R110bn in subsidies
South Africa spent nearly R200bn on energy subsidies in 2025, with most of it going to fossil fuels, slowing down the country’s climate goals. The latest report by the Canada-based International Institute for Sustainable Development (IISD) finds that...
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Motus faces staff revolt over pay cuts
Motus, South Africa’s largest vehicle showroom, is headed for a legal showdown with its employees over plans to slash salaries by up to 30% in a big cutback on benefits. The cutback plan arose after Motus was caught napping while Chinese brands won...
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Port woes sour Cape fruit exports
Prolonged wind disruptions and operational inefficiencies at the Port of Cape Town since November have disrupted the export of table grapes and deciduous fruit at the peak of the export season. The turmoil has resulted in losses and extra costs...
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Closure of BAT factory puts 35,000 jobs at risk
The decision by British American Tobacco (BAT) to stop producing cigarettes in South Africa due to rampant illicit cigarette sales will put more than 35,000 jobs at risk, devastating tobacco growers who have relied on BAT for more than 100 years. The...
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Police may be on hook for R56bn
Nearly 49,000 unlawful arrest and detention claims have left the South African Police Service (SAPS) exposed to R56.7bn in contingent liabilities — a figure that underscores systemic rights breaches and poses a huge fiscal risk. In a written reply to...
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Chinese car surge widens gap with SA
Chinese car imports are driving South Africa’s largest bilateral trade deficit, with the country running a R136.6bn gap with China in the first nine months of last year. This comes as nearly 375,000 vehicles flooded the local market and Chinese brands...
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SA’s trade deficit with Brics partners widens
The trade deficit between South Africa and its Brics partners has grown by $9.6bn, new research shows. Conducted by top academic Bhaso Ndzendze, a professor of politics and international relations at the University of Johannesburg, the study calls for...
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Tau throws lifeline to distressed industries
Trade, industry & competition minister Parks Tau has thrown a lifeline to the country’s ferrochrome and steel industries as the government steps up its interventionist efforts to save industries on the verge of collapse due to high energy costs. In a...
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EFF presses Mashatile on link to licence awardee
The EFF wants deputy president Paul Mashatile to account under oath for his dealings with the consortium to which the lucrative licence to operate the national lottery was awarded. The licence is said to be to the value of more than R80bn. The EFF...
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ANC charts escape from sharp end of US tariffs
The ANC is discussing at its mid-term national general council an investment and exportdiversification plan that aims to lift South African exports to R3-trillion as the government seeks to shore up the economy in response to recent punitive tariffs...
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Ministers work together to save ferrochrome smelters
The government is preparing to deploy sovereign backing to rescue the struggling ferrochrome industry. Electricity minister Kgosientsho Ramokgopa is finalising a package with finance minister Enoch Godongwana that would help reduce power tariffs for...
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Eskom’s lifeline to ferrochrome sector
Eskom and Glencore have sketched out a deal to carve out dedicated electricity from specific power stations and sell it under a contract designed to keep furnaces running and shield Eskom from volatile coal price risk. A memorandum of understanding...
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Cars feel bite of tariffs but PGMs ease the pain
The US tariffs that took effect in August made their first appearance in South Africa’s quarterly balance of payments, but their overall effect was muted as third-quarter exports to the US rose. The Reserve Bank noted in a response to Business Day...
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Stats SA rebukes new population scepticism
Stats SA has firmly rejected a private fibre operator’s claim that South Africa’s population could be far higher than official figures, saying novel techniques cannot replace transparency and replicable statistical methods. “Stats SA has noted...
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GDP growth streak extends
The economy grew for the fourth consecutive quarter, its longest period of sustained growth since the post-Covid recovery began in 2021. The performance in the third quarter of this year was broad-based, with nearly all sectors (except electricity)...
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Call for revamp of financial system
South Africa could unlock as much as R5-trillion in new investment for gross fixed capital formation (GFCF) and for its just energy transition if it undertakes sweeping reforms to its financial system, according to a report drafted for the National...
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‘We will participate’: Ramaphosa pushes back against Trump
President Cyril Ramaphosa has not given up on South Africa–US relations despite rising tensions under President Donald Trump’s administration, pushing back against suggestions that his country could be barred from the G20 summit in 2026. Trump, who...
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SA lags as Africa growth surges
South Africa is in danger of being left behind by faster-growing African peers, a new S&P Global Ratings report says, as the country’s weak growth and entrenched structural problems leave it vulnerable. This is as the continent posts the strongest...
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Online gambling tax plan slammed as unworkable
The National Treasury’s proposal to slap a 20% tax on the online gambling industry to curb harmful gambling will only channel punters to illegal platforms and become an administrative nightmare for the South African Revenue Service (Sars). These are...
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Mighty Pepkor takes on banks
Pepkor aims to marshal its unrivalled retail footprint of more than 5,000 stores, servicing more than 30-million clients, to launch an audacious foray into the crowded banking sector. Pepkor’s retail network is bigger than the branch networks of...
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Sars opens dialogue with top taxpayers
The South African Revenue Service (Sars) has opened a formal channel with one of its largest corporate taxpayers — part of a group that paid R600bn in 2024/25 — as it seeks to rebuild credibility and stabilise the second-largest source of state revenue...
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SA clinches surprise G20 consensus deal
South Africa pulled off an unexpected diplomatic victory at the G20 summit in Johannesburg, securing consensus on a leaders’ declaration after weeks of high expectations and deep geopolitical rifts. Delegates from several regions said Pretoria’s...
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Ratings upgrade and rate cut likely
SA could be in line for a credit rating upgrade from S&P Global Ratings on Friday and a possible interest rate cut at next week’s monetary policy committee meeting after Wednesday’s mediumterm budget policy statement (MTBPS) and the announcement of a...
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High-stakes talks to rein in gambling
SA’s bookmakers have opened industry talks to consider measures the sector can take to bar recipients of SA Social Security Agency (Sassa) grants and National Student Financial Aid Scheme (NSFAS) recipients from channelling taxpayer assistance to the...
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Sibanye suffers R3.7bn blow from failed mine deal
Sibanye-Stillwater’s balance sheet is set to suffer a R3.7bn hit after the miner agreed to settle its drawn-out legal brawl with London-based Appian Capital Advisory out of court. The $215m (R3.69bn) settlement, about the same value as Sibanye’s...
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JSE heads for showdown with the Competition Commission
The JSE and the Competition Commission are headed for a legal showdown over allegations Africa’s largest bourse has breached SA’s antitrust law by starving smaller rival A2X of trading volumes to maintain its market dominance. The imminent legal...
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JSE aims to rein in Sens information overload
The JSE, Africa’s largest and most liquid bourse, plans to rein in unnecessary dissemination of information on its news service, saying boilerplate updates on debt securities and exchange traded funds (ETFs) are crowding out material information and...
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Discount power deals shift burden
Eskom’s CEO has flagged serious flaws in negotiated electricity pricing discounts for energyintensive firms, saying they shift the real costs onto households and the utility. Speaking on Business Day Spotlight, a podcast that has hosted stalwarts such...
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