402 staff members join SANPC as it aims to lead South Africa's energy future
SANPC said that this milestone marks a pivotal step in establishing the company as a dominant force in South Africa's energy sector.
In a statement issued on Wednesday, SANPC's spokesperson Jacky Mashapu emphasised the significance of this achievement.
'This marks a historic leap forward in operationalising SANPC as a true South African Energy Champion,' Mashapu said.
'As we consolidate our internal resources and expertise, we are committed to powering South Africa's energy future and supporting key government priorities.'
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Daily Maverick
5 hours ago
- Daily Maverick
Ramaphosa announces urgent measures to shield South African firms from Trump's tariff fallout
This comes after the Department of Trade, Industry and Competition launched an export support desk on Thursday night as one of its 'urgent interventions' to support South African exporters affected by the tariffs. South Africa is preparing a package to support companies that are vulnerable to the US tariffs, after it failed to secure a trade deal with Washington before a deadline set by US President Donald Trump. 'All channels of communication remain open to engage with the US, and our negotiators are ready pending invitation from the US,' President Cyril Ramaphosa said in a statement on Friday morning. 'In the meantime, government is finalising a package to support companies that are vulnerable to the reciprocal tariffs. The package consists of a number of measures to assist companies, producers and workers affected by the tariffs on SA exports to the US. The details of the measures will be announced in due course,' said Ramaphosa. This comes after the Department of Trade, Industry and Competition launched an export support desk on Thursday night as one of its 'urgent interventions' to support South African exporters affected by the tariffs. On Thursday, Trump signed an executive order placing new tariff rates on dozens of countries, hours before the 1 August 2025 deadline he had set for deals to be made. Some countries received modified tariff rates, while South Africa's remained at the 30% previously proposed by the US. (Source: The Outlier) According to the executive order, the higher import duty rates will take effect seven days from the date of the order. 'All applicable exceptions published in the previous US executive order are set to remain in force, and these exceptions covered products such as copper, pharmaceuticals, semiconductors, lumber articles, certain critical minerals, stainless steel scrap and energy products,' said Ramaphosa. South African officials have been working frantically for months to secure a trade deal with the US to avert Trump's punishing tariffs. South Africa proffered a proposed framework deal to US trade representatives in Washington in May, before Ramaphosa and Trump met at the White House. Representatives were later told they needed to revise this proposal, in accordance with the Trump administration's new template for US trade with sub-Saharan Africa, which they were told would be shared ' soon '. Earlier this week, it appeared the country was still waiting for this template. In his statement, Ramaphosa said the department was in 'constant contact' with the US on its framework deal. He said trade relations between SA and the US were 'complementary in nature' and that South African exports 'do not pose a threat' to US industry. 'South Africa will continue to pursue all diplomatic efforts to safeguard its national interests. It is important that as a country we keep our people at work and our companies producing some of the high-quality products destined for many parts of the world. 'To this end, government will intensify its diversification strategy to create resilience of our economy, and is working with export councils and industry associations, as well as top exporters to the US with a view to assist with alternative markets,' he said. Call to renew 'intensive negotiations' Dr Boitshoko Ntshabele, the CEO of the Citrus Growers Association, told Daily Maverick the 30% tariff 'will be felt most acutely in rural communities in the Northern and Western Cape, the two provinces from which we export to the US'. Ntshabele said it was still possible to reach a trade deal with the US before 7 August, and called on Ramaphosa to renew 'intensive negotiations'. 'The category of seasonal fresh produce offers clear mutual benefits to both countries. South African citrus is exported to the US during the northern hemisphere's summer months. This secures continued supply in the category and in no way threatens domestic US growers. 'It is notable that Brazilian orange juice has been exempted from US tariffs. Fresh South African citrus plays a significant role in keeping America healthy, keeping citrus consumers in the category, and in avoiding possible citrus price increases. 'We have passed the middle of the southern hemisphere's citrus season, and local citrus growers have managed to accelerate a limited number of shipments to the US in the past weeks, which has mitigated some of the effects of the tariff on the current season's US exports. But should a beneficial trade deal not be concluded, our next export season will feel the full effect of the tariff.' Ntshabele welcomed the department's emergency measures, but said that without a deal, 'Our growers in the Western and Northern Cape will face a potentially devastating scenario, especially since the US citrus market's appetite for our produce until very recently offered the potential for creating many more local citrus jobs.' 'No company can compete with 30% tariffs' The Congress of South African Trade Unions (Cosatu) on Friday said it was 'extremely concerned' about the impact of the 30% tariff on all South African goods, barring minerals. 'We fear the devastation this will wreak upon farmworkers in the citrus industry from the Western Cape to Limpopo, to motor manufacturing workers from the Eastern Cape to Gauteng. No company can compete with 30% tariffs. Many may close,' said Cosatu in a statement. Daily Maverick reported previously that Trump's punishing tariffs would kneecap South African industries, including the automotive sector and the citrus industry. 'This calamity has been made worse as South Africa has been unfairly made a global skunk with comparatively far better tariffs of 15% announced for neighbouring states, economic sector competitors and most of the world, ironically including many regimes with dubious understandings of the rule of law and real human rights abuses and genocides, who will now have a real advantage over South African exports,' Cosatu added. In a statement on Friday morning, DA spokespersons on Trade, Industry and International Relations, MPs Toby Chance and Ryan Smith, said that the commencement of the 30% tariffs on SA goods was a 'devastating outcome' for the country. 'Both the departments of Trade, Industry and Competition, and International Relations and Cooperation should hang their heads in profound shame today. This 'no deal' scenario is due to sheer negligence, failed diplomacy and ineptitude,' they said. The Nelson Mandela Bay Business Chamber said that the imposition of the 30% tariffs was a 'big blow for local businesses, especially in the automotive and agricultural sectors'. 'The Eastern Cape economy is likely to be the most adversely affected in the country by these developments. 'We are deeply concerned about the impact these developments may have on our automotive industry, which is anchored by the Original Equipment Manufacturers (OEMs) which undertake completely knocked down assembly in South Africa. These OEMs are responsible for creating well over a 100,000 jobs at their own operations and within their components supplier networks. 'Furthermore it is estimated that the knock-on employment impact of these OEMs and components manufacturers results in over 500,000 formal jobs being created across the entire automotive supply chain. Around 40% of automotive employment in the country is located in the Eastern Cape,' the chamber said in a statement. DM
The Citizen
5 hours ago
- The Citizen
US tariff of 30%: Rand weakest in 3 months, thousands of jobs in danger
The confirmed US tariff on South Africa that will apply from 7 August is bad news for the South African economy, rand and jobs. After the White House announced new tariffs on exports into the US, many countries could heave a sigh of relief, but unfortunately, South Africa was not one of them, with a 30% tariff. The rand fell to its lowest level in three months, while thousands of jobs are in danger. In the early hours of Friday morning (South African time), the White House announced its sweeping new trade policy. The main announcement was that the 'universal' 10% tariff will remain for countries the US has a trade surplus with, while countries the US has a trade deficit with will face a minimum of 15%. Lesetja Kganyago, governor of the Reserve Bank, has warned that an unchanged tariff could cost the country 100 000 jobs. The citrus industry alone could shed 35 000 jobs, threatening rural livelihoods in areas like Citrusdal in the Western Cape and Addo in the Eastern Cape where communities heavily depend on citrus farming for employment and economic survival, Harry Scherzer, CEO of Future Forex, says. Automotive exports to the US have already collapsed by more than 80%, and further decline is expected. These tariffs now apply even to goods previously covered under the African Growth and Opportunity Act (Agoa), which essentially dismantles tariff-free access for many South African exports. ALSO READ: US tariff of 30% confirmed for SA but negotiations continue, president says US tariffs make the rand suffer The rand was trading at R18.23/$ on Friday morning but strengthened later in the day to R18.06/$. Tracey-Lee Solomon, economist at the Bureau for Economic Research (BER), says as a result, the rand weakened by 2.8% against the US dollar, weighed down by broad dollar strength and South Africa's failure to secure a more favourable trade deal with the US, which likely added to negative sentiment. Bianca Botes, director at Citadel Global, points out that for most of July, the rand rallied, supported by a strong performance in local equities and commodities, as well as renewed risk appetite among international investors. 'However, this week, the rand felt the pressure as the dollar pushed higher against most major currencies, and its value will continue to be driven by the major global themes.' Busisiwe Nkonki and Isaac Matshego, economists at the Nedbank Group Economic Unit, say the rand came under renewed pressure after US President Donald Trump announced he would impose a further 10% import tariff on the Brics countries and any other economy aligned with the grouping. ALSO READ: Tau launches urgent support measures for exporters affected by US tariffs Sudden direct consequences of US tariffs Botes says Trump's trade policy, which has been an ambient concern for global markets, suddenly had direct consequences for economies with the arrival of the tariff deadline. 'A new tranche of tariffs, sharp and hastily framed, landed. 'Trump categorised US trading partners into three groups, depending on their trade relationships. The hardest hit include Laos and Myanmar (40% each), Canada (35%), Switzerland (39%), South Africa (30%) and Taiwan and Sri Lanka (20% each). The Southeast Asian economies Cambodia, Malaysia and Thailand were hit with a 19% rate, while Israel and Venezuela got away with 15%.' She says while Trump's rationale may be vaguely strategic, the rollout was conspicuously performative. 'Now, portfolio managers are no longer modelling probability – they are modelling responses to this policy. Boards now must revisit hedges, and corporates are reconfiguring cost assumptions. 'For exporters, the margins that existed yesterday already narrowed. In currency markets, the reaction was measured but unmistakable: there was pressure on the most exposed currencies, while the least entangled gained some strength.' ALSO READ: Economists question if SA has a plan for US tariffs, Tau says here it is SA economy must brace for less access to US markets due to US tariffs Professor Raymond's Parsons, economist at the NWU Business School, says the South African economy must inevitably brace itself for less access to US markets in the future. 'Although agriculture and the motor industry are mainly affected, there are wider macroeconomic effects, such as on the overall level of unemployment and the volatile rand, to be expected.' Therefore, he says, the inflation and growth outlooks are likely to be influenced by the net impact of higher US tariffs on South Africa. 'In a worst-case scenario, the cut in South Africa's gross domestic product (GDP) growth could be between 0.4% and 0.7%, at a time when the expected growth rate in 2025 is now probably about 0.9%. 'The challenge is now for government and the private sector to identify both short and long-term shock-absorbing measures that will help to manage the new risks emerging from a changed global trading order. Diversification of export markets is now also the highest priority to seek out new opportunities in Africa and elsewhere.'
The South African
6 hours ago
- The South African
Markus Jooste's Hermanus home hits the market
A landmark property in Hermanus owned by the Rupert family and the late former Steinhoff CEO Markus Jooste has been listed for sale at a staggering R105 million – a figure expected to break sales records along the Whale Coast. Located in the prestigious Voëlklip area, the estate sits within one of Hermanus's most exclusive enclaves and boasts panoramic views of Walker Bay, famed globally for its whale-watching. The listing is being managed by Seeff Properties, which described it as a 'legacy property' and 'one of the most significant coastal residential holdings' in the region. According to Paul Kruger, licensee for Seeff Hermanus, the estate spans 7 000 square metres across a rare double plot – an offering that is 'virtually unheard of' in the high-demand Voëlklip suburb. The estate comprises a manor house with bespoke interiors and multiple additional residences, all styled in the elegant Cape vernacular tradition. 'This property offers unmatched space, privacy, and grandeur,' Kruger said, adding that its history imbues it with 'a rich heritage of understated elegance and a deep connection to Hermanus's pristine natural beauty.' The estate previously served as a holiday retreat for the Rupert family, one of South Africa's most influential business dynasties. However, Seeff confirmed that Markus Jooste, the disgraced former CEO of Steinhoff International, also held ownership. Jooste committed suicide in 2024, shortly after receiving a R475 million administrative penalty from South Africa's Financial Sector Conduct Authority (FSCA) in the wake of Steinhoff's corporate collapse due to financial misconduct. With its exceptional location, scale, and history, the property is expected to attract significant interest from high-net-worth buyers, both local and international. Its R105 million price tag positions it to set a new record for residential sales in Hermanus. 'This is not just a home – it's a piece of South African coastal heritage,' Kruger added. All images via Seeff Properties Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
