Author: magubanek@sundaytimes.co.za (Khulekani Magubane)

South Africa’s mining sector is struggling due to delays in establishing a functioning cadastral system, which is essential for licensing exploration and other mining activities. The Minerals Council warned parliament about this issue during a recent meeting, highlighting the country’s fall behind global peers. The lack of a transparent online cadastral system is hindering mining activities, making it difficult to track licensing and move forward with exploration. The government’s failure to coordinate policies across various portfolios is further impeding progress in the mining sector. The decline in mining activity has caused concern, with South Africa’s contribution to GDP dropping. The…

Ransomware is a type of malicious software that blocks a user’s access to their information system until a ransom is paid to regain access. When Itac management faced an attack, they chose not to pay the ransom and instead contacted the police and conducted a forensic investigation. Fortunately, the probe revealed that no consumer data had been stolen, but Itac’s server infrastructure was compromised during an upgrade. Such cyber breaches are becoming more common, and efforts need to be made to enhance security measures against cyber threats across the government. While the police have not provided updates on the perpetrators,…

Minister of mineral and petroleum resources Gwede Mantashe remains committed to South Africa’s energy approach and the mining sector, despite budget reductions in the portfolio. He emphasized the importance of a balanced energy policy that combines baseload and low carbon emissions for long-term sustainability. Mantashe highlighted progress in the energy sector, including the connection of 150MW of electricity to the grid and procurement of new generation capacity. He also discussed the ongoing nuclear build programme and partnerships with international firms like Gazprom for refining projects. The minister dismissed claims that South African mining is a dying industry, citing new government…

In his department’s budget vote, Finance Minister Enoch Godongwana addressed the rising deficit facing the South African fiscus. He highlighted the strain on public finances since 2012, with debt surpassing R5 trillion in the current financial year. Godongwana emphasized the need to reduce the deficit and stabilize government debt to prevent the crowding out of essential service delivery resources. The Treasury aims to narrow the deficit to 3.4% of GDP by 2026/27 and stabilize debt-service costs. They are on track to meet these objectives, with support from parliamentary committees. Additionally, Godongwana mentioned an action plan with the Financial Action Task…

Minister of Trade, Industry, and Competition, Parks Tau, announced that 70% of the department’s budget allocation will go towards investment incentives, sector support programs, and localisation and transformation efforts. In his first budget vote in parliament, Tau emphasized the importance of industrial policy in the department’s economic development strategy, with R30.1bn earmarked for the medium-term expenditure framework period. Highlighting key areas of focus, Tau stated that the incentives program would receive the largest portion of the budget at 48.7%, followed by sector programs and transformation and competition at nearly 30%. The department has also finalized eight sectoral master plans for…

South African citrus growers are facing potential challenges in the EU market, where they export a significant portion of their produce. CGA CEO Justin Chadwick highlighted the importance of the EU market for citrus profitability in South Africa, emphasizing that any measures imposed by the EU could negatively impact growers and lead to revenue and job losses. On the other hand, Agriculture, land reform and rural development director-general Mooketsa Ramasodi emphasized the critical role the citrus industry plays in supporting 140,000 jobs at the farm level and in rural communities. While Trade, industry and competition acting director-general Malebo Mabitje-Thompson criticized…