Latest news with #R52
SowetanLIVE
2 days ago
- Automotive
- SowetanLIVE
Trump's copper tariffs pile more metal misery on US car industry
US President Donald Trump's threat of a 50% tariff on copper imports is raising alarm in the US car sector as it could make it even harder for carmakers and suppliers to absorb border taxes and rising costs, executives and industry experts say. The duties on their own may be manageable, but prices of the red metal vital for making cars, in particular in wire harnesses and motors for electric vehicles, have soared to record highs. The US market is heavily reliant on imported copper, aluminium and steel, and developing new capacity could take years so users are scrambling to buy metal from a limited number of suppliers, spurring price rises. Added to import tariffs on the metals, and higher prices in the US, the extra costs are compounding the financial strain on carmakers and parts suppliers, interviews with a dozen executives, industry analysts and experts show. Carmakers have been relying on inventories to avoid raising prices, but could be forced to pass on mounting import tax costs to consumers. Some, including Ford and Toyota, have announced hikes to mitigate other Trump-induced tariffs, while Porsche expects a €300m (R6,285,306,000) hit to results from tariffs for April and May alone. "This (a copper tariff) complicates a difficult situation" for the car industry, said Daan de Jonge, lead analyst for copper demand and prices at Benchmark Mineral Intelligence. Trump's announcement of the tariff ast week propelled prices on US platform Comex to a record $5,682 (R102,044) a pound (0,453kg) or $12,526 (R225,018) a metric ton, a premium of more than $2,920 (R52,459) a ton over the price on the London Metal Exchange, around $9,600 (R172,469) a ton, which the market uses as the global benchmark. The rate is effective from August 1. The US Midwest duty-paid aluminium premium paid on top of the benchmark LME price for physical delivery has tripled to 60 US cents (R10,71) a pound since Trump was inaugurated. In the same time, the LME price has slipped 3% to $2,604 (R46,783) a metric ton. US top carmakers GM , Ford and Jeep maker Stellantis declined to comment.
The Citizen
20-06-2025
- Business
- The Citizen
Africa top 200 report: South African brands take top 10 spots
The top 10 brands include network operators, banks and retail groups. The top 10 most valued brands in Africa are all South African, with Africa's largest mobile network operator, MTN, retaining first position. Brand Finance, responsible for compiling the report of the top 200 brands in Africa, commenced in 2020. Since its establishment, MTN, headquartered in Johannesburg, has consistently held the top spot. According to the report, the network operator has a brand value of $2.9 billion (more than R52 billion). Nigeria remains a substantial market for MTN, boasting a substantial subscriber base. ALSO READ: Can Pick n Pay's new look fix their troubles? New store design revealed Top 10 South African brands Jeremy Sampson, executive chair of Brand Finance Africa, said: 'The dominance of banking, telecoms and retail brands in the Africa 200 2025 ranking truly highlights that these companies are vital to the daily lives of African consumers and that these sectors are driving the continent's emerging economies. 'Their continued growth, despite fierce global competition, proves that African brands can stand shoulder to shoulder with the world's best, offering high-quality products and services that resonate across the continent and globally.' The top 10 brands include network operators, banks and retail groups. South African brand values Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. 'In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity and business performance,' reads the report. MTN – $2.9 billion (more than R52 billion) Vodacom – $2.5 billion (more than R45 billion) Standard Bank – $2.2 billion (more than R39 billion) FNB – $1.7 billion (more than R30 billion) Absa – $1.5 billion (more than R28 billion) Checkers – $1.4 billion (more than R25 billion) Woolworths SA – $1.3 billion (R23 billion) Nedbank – $1.2 billion (more than R21 billion) Investec – $1.2 billion (more than R21 billion) Shoprite – $1.2 billion (more than R21 billion) ALSO READ: Where do you shop for jeans? Survey reveals Mr Price is SA's most loved store Checkers earns outstanding domestic brand 'Brand Finance research reveals that Checkers earns outstanding domestic brand perceptions across several brand strength metrics, including likeability, consideration and recommendation. 'Data also shows that Checkers outperforms leading global counterparts when compared to their respective home markets, including Walmart in the US, Coles in Australia and Marks & Spencer in the UK,' reads the report. The report also includes other South African brands which are believed to be fast-growing. One of the brands is Capitec bank, which held the 28th position in 2024, but now sits at 14th. It has doubled its brand value to $1.1 billion (more than R19 billion). The report also included Clicks, Pick n Pay, Mr Price, Outsurance and Dis-Chem. NOW READ: Capitec CEO tops banking pay charts — but how do staff salaries compare? A look at how SA's top five banks pay
The Citizen
21-05-2025
- Business
- The Citizen
Spaza shops ask for more than R32m worth of stock
According to the presentation, spaza shop owners applied for a combined total of R32.4 million for machinery and stock. Spaza shop owners across the country have submitted applications requesting more than R25 million worth of machinery and stock from the government, as part of efforts to revitalise the informal retail sector. This comes after the launch of the R500 million Spaza Shop Support Fund by the Department of Small Business Development. In a recent briefing, it was revealed that the Department of Small Business Development (DSBD) received more than 3 269 applications from spaza shop owners seeking support through the Spaza Shop Support Fund. However, only 387 of these applications have been processed so far. Most applications came from KwaZulu-Natal, with 142 submissions and the least from North West with eight. ALSO READ: Government's R500m spaza shop support fund gets thumbs up Funding requests According to the presentation, spaza shop owners applied for a combined total of R32.4 million for machinery and stock. Of this, machinery accounts for more than R16.4 million, while stock requests make up R16 million. 'The fund seeks to enhance food safety, improve competitiveness, and strengthen locally-owned spaza shops,' the department said. ALSO READ: Illegal spaza shops 'still proliferate' despite warnings R52 million disbursed to partners To ensure efficient delivery, three Distribution Channel Partners (DCPs) have been contracted and are working across various provinces. According to the department, R52 million has already been disbursed to two of these partners to begin processing and distribution. 'The approach also provides bulk buying (wholesale network) opportunities that will propel the spaza shops to exploit economies of scale and enjoy competitive pricing and packaging,' it said. Furthermore, geo-mapping and registrations of spaza shops have commenced, with 1 411 shops verified. 'Awareness workshops will be conducted in all provinces between 23 May and 1 July 2025, covering one district per province,' it said. Online applications can be accessed on the Spaza Shop Fund website. NOW READ: Government offers R500m spaza shop support fund – Here's what you need to know
The South African
13-05-2025
- General
- The South African
LATEST outlook for June 2025 SASSA Childcare grants
The South African Social Security Agency (SASSA) is responsible for June 2025 SASSA Childcare grants. Set for payment in a few weeks from now, each month, billions in taxpayer money is set aside to help financially distressed parents. Here's how it works … Currently, June 2025 SASSA Childcare grants are the most expensive for government. As in, the R560 paid each month to roughly 14-million beneficiaries, is the most expensive form of social welfare. If you are unfamiliar with how the June 2025 SASSA Childcare grants are divided up, here's what you need to know … May 2025 SASSA grants were paid out just last week following a lengthy five-week gap. Image: File The South African Social Security Agency administers three child-related social grants. Note that you may only claim one grant at a time. And only one parent (if married) may claim a grant per child. They are: SASSA Childcare for R560 per month. per month. SASSA Care Dependency for R2 310 per month (Disability for under 18s). per month (Disability for under 18s). SASSA Foster Care for R1 250 to a court-appointed foster parent. Furthermore, we calculated that if a mother puts her newborn onto June 2025 SASSA Childcare grants from the month of their birth, that child will earn the household as much as R155 500 in government funds till they are 18. This number conservatively factors in estimated annual grant increases like the 5.7% enjoyed back in April. Better still, the Department of Social Development (DSD) has been imploring young mothers with newborns to make the application as soon as possible. June 2025 SASSA Childcare grants are payable next month on Thursday 5 June 2025. Don't forget that to qualify for Childcare you have to pass the following means test: Earn less than R8 800 per month if married ( R105 600 annually). per month if married ( annually). Earn less than R4 400 per month if single (R52 800 annually). Of course, you child must be under the age of 18, and you cannot receive more than one SASSA grant at same time, as mentioned. Also, applications can take up to three months to be processed. However, you will be back-paid to the date of your initial application. Diarise the remaining 2025 Childcare grants so you're not left short of money at the end of the month. Image: SASSA Crucial to gaining access to June 2025 SASSA Childcare grants is registering a child with Department of Home Affairs (DHA) eHome. Many parents are not getting their newborn's unabridged birth certificate and identification document early enough warns government. Therefore, they are not eligible as soon as they can be for SASSA Childcare grants. After you have been through DHA eHome, make an appointment with SASSA online. And bring the following documents with you: Valid identity documents of both the applicant (child) and spouse (if married). Proof of marital status (via a marriage, birth or death certificate of your spouse). Official birth certificate and ID of the child you're applying for support for. Proof of income (of both you and your spouse). An approved three-month bank statement (no more than three-months old). Proof of address (a utility statement with your name on it that's not more the three-months old). Note that someone else can apply on your behalf if you're unable to visit a SASSA branch office personally. You will need a doctor's note explaining why and have all of the above signed and certified by a commissioner of oaths. For application or payment queries you can contact SASSA directly here: SASSA Toll-Free Call: 0800 60 10 11 SASSA Head Office: 012 400 2322 Email SASSA: grantenquiries@ Or email: president@ 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.
IOL News
07-05-2025
- Business
- IOL News
NCOP delegates push for resolution on delays in the Go! Durban bus project
The Go! Durban Queen Nandi bus station in KwaMashu. MPs from the National Council of Provinces are seeking to intervene in the stalled public transport project. Image: Independent Newspapers Archives A high-level delegation from the National Council of Provinces (NCOP) in KwaZulu-Natal has sought to intervene in the long-standing stalemate over the R9 billion Go! Durban bus project in the eThekwini Municipality. The delegates have called for all stakeholders, including taxi operators, to appear before the Select Committee on Infrastructure in Parliament. The project kicked off close to 10 years ago and despite the infrastructure being built, it has failed to launch due to a stalemate between the City and taxi operators over the ownership of the buses. The NCOP delegation, led by KwaZulu-Natal provincial whip Mzamo Billy, met with eThekwini Municipality's executive leadership this week, following its September 2024 Provincial Week oversight programme. The meeting included mayor Cyril Xaba and senior city management, and focused on infrastructure delivery bottlenecks, with the Go! Durban project at the centre of discussions. The meeting welcomed a resolution that all stakeholders involved in the Go! Durban project, including taxi operators, be formally invited to appear before Parliament. The delegation said it would write to the committee chairperson Frederik Badenhorst, to consider the decision. 'This initiative seeks to break the current impasse over equity disputes and ensure inclusive participation in shaping the future of public transport in eThekwini,' the delegation said in a statement. The delegation reaffirmed that delays in the project undermine access and mobility for thousands of commuters and urged a swift, transparent resolution of the issues. Progress in other critical service delivery initiatives was also noted. The Hammarsdale Wastewater Treatment Plant has recorded R52 million in current expenditure and 35% completion, with officials committing to addressing earlier delays relating to design, procurement, and funding cycles.
