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Darlene Creamer

By Darlene Creamer

TRANSMISSION TUSSLE: Organised business won a major victory when President Cyril Ramaphosa intervened to roll back an Eskom unbundling plan approved by the Department of Electricity and Energy in December. In his State of the Nation Address, he said the new State-owned Transmission System Operator must own the grid assets, which Eskom wanted retained by a subsidiary, and set a three-month deadline for coming up with a solution.

AT ODDS:

20th February 2026

Organised business has expressed strong reservations about an Eskom unbundling plan approved by the Department of Electricity and Energy in December. It contends that the decision not to transfer... 


There is no question that tariffs are very much back in vogue, courtesy of US President Donald Trump. South Africa, too, is looking to tariffs to shore up industries that are under extreme pressure. However, tariffs are a blunt instrument and the implementation of higher tariffs is not cost-free, especially for hard-pressed consumers.

BLUNT INSTRUMENT

13th February 2026

There is no question that tariffs are very much back in vogue, courtesy of US President Donald Trump. South Africa, too, is looking to tariffs to shore up industries that are under extreme... 


FEELING BULLISH: The gold bulls are definitely having their day. The upward price trend has been in place since late 2022 and there are no signs yet of a reversal. This, despite the fact that the precious metal has already broken all previous records. The only pity for South Africa is that the country is far from the leading producer it once was.

FEELING BULLISH

6th February 2026

The gold bulls are definitely having their day. The upward price trend has been in place since late 2022 and there are no signs yet of a reversal. This, despite the fact that the precious metal has... 


BRATTISH: Active moves by President Donald Trump to exclude South Africa from the G20 gathering in Miami might not rank at the top of recent outrageous actions by the US leader, including his vulgar gesture to an auto worker who heckled him during a plant visit. However, viewed alongside his brattish letter to Norway’s Prime Minister Jonas Gahr Støre, blaming Norway for his failure to receive the 2025 Nobel Peace Prize, it is suggestive of yet more brutishness to come, especially if such bullying continues to be tolerated.

BRATTISH

30th January 2026

Active moves by President Donald Trump to exclude South Africa from the G20 gathering in Miami might not rank at the top of recent outrageous actions by the US leader, including his vulgar gesture... 


PRESSURE COOKER: The list of trouble spots around the globe that carry the potential for dragging the world into war is growing. Worryingly, this also comes at a time when the international and institutional guardrails that were put in place with the specific purpose of preventing wars are being severely weakened.

PRESSURE COOKER:

23rd January 2026

The list of trouble spots around the globe that carry the potential for dragging the world into war is growing. Worryingly, this also comes at a time when the international and institutional... 


TO-DO LIST

TO-DO LIST

16th January 2026

The South African economy is definitely showing signs of recovery. However, there is a long way to go to truly break free from the low-growth shackles created by years of sub-optimal governance,... 




GETTING OLD: The shadow created by the ‘flood the zone’ strategy implemented when President Donald Trump took office in late January extended across the world and was highly unsettling, especially on the trade front. However, as 2025 comes to an end, there are signs that the world is tiring of the hyperbole, distraction and tantrums. Perhaps the pushback in relation to Trump’s unilateral and unbalanced ‘peace plan’ for Ukraine and Russia will be the start of a more assertive diplomatic response in 2026.

GETTING OLD

12th December 2025

The shadow created by the ‘flood the zone’ strategy implemented when President Donald Trump took office in late January extended across the world and was highly unsettling, especially on the trade... 




CONFIDENCE BOOST: The success of the G20 against the backdrop of well-founded scepticism about whether a decaying Johannesburg could pull off its host-city status was not only a relief but also a confidence booster. Put together with the impressive performances of our national cricket, football and rugby teams, 2025 is ending with something of a bang rather than the whimpers that have characterised far too many recent years.

CONFIDENCE BOOST

5th December 2025

The success of the G20 against the backdrop of well-founded scepticism about whether a decaying Johannesburg could pull off its host-city status, was not only a relief but also a confidence... 


BLUE LIES

BLUE LIES

28th November 2025

Among the astounding revelations made during the Madlanga Commission has been testimony stating that cars owned by Vusimusi ‘Cat’ Matlala’s security company were unlawfully registered as Ekurhuleni... 


SCRAP CONTINUES: The fight over South Africa’s scrap metal policy is set to continue. Following a review, the International Trade Administration Commission of South Africa, or Itac, made only modest changes, lowering the discount to be offered to domestic ferrous scrap consumers from 30% to 25%. The seller is still responsible for delivery costs and the 20% export tax remains. Both metal recyclers and ArcelorMittal South Africa have objected and are demanding another review.

SCRAP CONTINUES

21st November 2025

The fight over South Africa’s scrap metal policy is set to continue. Following a review, the International Trade Administration of South Africa, or Itac, made only modest changes, lowering the... 




WEAK LINK: The National Energy Regulator of South Africa (Nersa) is being called upon to make some increasingly complex regulatory calls as the country steadily shifts towards a more open and competitive industry structure. There is growing concern, however, about Nersa’s capacity to make decisions that will be supportive of the transition. Recent court cases and settlements have brought to the fore the problems at the regulator and have also highlighted the urgent need for its capabilities and its capacity to be beefed up.

WEAK LINK

14th November 2025

The National Energy Regulator of South Africa (Nersa) is being called upon to makes some increasingly complex regulatory calls as the country steadily shifts towards a more open and competitive... 




THE B WORD: The world economy is on a roller-coaster ride that includes sharp and unpredictable tariff twists, gut-dropping geopolitical dips and violent turns. Yet the stock markets have floated above the fray, buoyed by optimism over the effect Artificial Intelligence could have on productivity and innovation. More recently, though, the word “bubble” has entered the vocabulary, as some commentators warn of a correction and others of a possible crash.

THE B WORD

7th November 2025

The world economy is on a roller-coaster ride that includes sharp and unpredictable tariff twists, gut-dropping geopolitical dips and violent turns. Yet the stock markets have floated above the... 




RED CARPET TREATMENT: There are definite signs across Johannesburg that the struggling city aims to put its best foot forward when hosting the G20 Leaders’ Summit, and related meetings, during November. Most of the spring cleaning is linked to the city’s main corridors, with some serious road maintenance under way. The picture will quickly change, however, should any world leader stray from those carefully manicured routes and into Joburg’s potholed, waterless and traffic-light-defective suburbs and townships.

RED CARPET TREATMENT

31st October 2025

There are definite signs across Johannesburg that the struggling city aims to put its best foot forward when hosting the G20 Leaders’ Summit, and related meetings, during November. Most of the... 


UNDER PRESSURE: The pressures faced by the South African steel industry have been well documented throughout the year. The lack of domestic demand growth, coupled with rising electricity and logistics costs, continues to eat into margins. However, the industry is also at the centre of trade-war hostilities, where tariffs are the order of the day. In the process, surplus steel is seeking new markets and there are reports that imports into South Africa are surging. There are no good solutions, but government intervention is looking increasingly likely.

UNDER PRESSURE

24th October 2025

The pressures faced by the South African steel industry have been well documented throughout the year. The lack of domestic demand growth, coupled with rising electricity and logistics costs... 


WRECKING BALL

WRECKING BALL

17th October 2025

Allegations of corruption have always dogged the Gauteng health department, but the latest Tembisa Hospital revelations have highlighted the scale of the looting. If R2-billion can be stolen from... 




DODGING & WEAVING: The final countdown to the G20 Leaders’ Summit in South Africa is truly under way. What should have been something of a crowning moment for the country – the first African nation to host the event – has instead been a hard slog. Besides having to navigate what are truly hazardous geopolitical roads, Joburg’s infrastructure backlogs and general decay have also raised questions about the wisdom of having selected it as host city.

DODGING & WEAVING

10th October 2025

The final countdown to the G20 Leaders’ Summit in South Africa is truly under way. What should have been something of a crowning moment for the country – the first African nation to host the event... 




MIND BLOWING: The subconscious mind is that part of one’s awareness that influences thoughts, feelings, and actions without one being fully conscious of that influence. It’s not entirely clear whether it was that or some form of reverse psychology that prompted President Cyril Ramaphosa, who is also ANC president, to extol the relative management virtues of DA-run municipalities in his dressing down last month of thousands of ANC councillors.

MIND BLOWING

3rd October 2025

The subconscious mind is that part of one’s awareness that influences thoughts, feelings, and actions without one being fully conscious of that influence. It’s not entirely clear whether it was... 


DRIP FED: The water crisis being experienced in many parts of South Africa, including in metropolitan areas of Gauteng, has replaced loadshedding as the biggest problem and source of anxiety for residents. But it’s not only the lack of water that is the problem, it’s also a communications crisis. Rand Water’s communication is simply abysmal, leaving councils to drip-feed residents with information. There are no early-warning systems in place and when the taps run dry, so does the flow of information.

DRIP FED

26th September 2025

The water crisis being experienced in many parts of South Africa, including in metropolitan areas of Gauteng, has replaced loadshedding is the biggest problem and anxiety confronting residents. But... 


BOARD FALLOUT: Developments at the South African Nuclear Energy Corporation, or #Necsa, have been explosive of late. Disquiet, disagreements and even legal action over the way remuneration policies had been implemented by the CEO led to mass resignations that left the board inquorate. There is also a worrying allegation that the financial position may have been misrepresented.

BOARD FALLOUT

19th September 2025

Developments at the South African Nuclear Energy Corporation, or Necsa, have been explosive of late. Disquiet, disagreements and even legal action over the way remuneration policies had been... 


SHOCKING: When the latest round of electricity tariffs were announced earlier this year, Eskom immediately raised questions about whether the methodology had been applied correctly. Once the reasons were published, the utility approached the courts for a review, claiming errors by the regulator, or Nersa, which has been on the wrong side of several legal rulings, acknowledged error and subsequently reached a R54-billion settlement, for which consumers will now pay.

SHOCKING

12th September 2025

When the latest round of electricity tariffs were announced earlier this year, Eskom immediately raised questions about whether the methodology had been applied correctly. Once the reasons were... 




ON TRACK: Significant progress has been made in opening the Transnet rail network to private train operating companies (TOCs). Transport Minister Barbara Creecy has announced that 11 TOCs that applied earlier in the year to operate routes on Transnet’s rail network have met the requirements to do so and will now enter into contract negotiations to enable them to begin operating multiple routes (see also page 32).

ON TRACK

5th September 2025

Significant progress has been made in opening the Transnet rail network to private train operating companies (TOCs). Transport Minister Barbara Creecy has announced that 11 TOCs that applied... 


PERILOUS RIDE

PERILOUS RIDE

29th August 2025

While the US tariffs on automotives and automotive components have piled on the pressure, South Africa’s domestic industry is at a dangerous crossroads as it faces multiple threats. Besides a... 


SURGERY VS CONVENTION

SURGERY VS CONVENTION

22nd August 2025

It would be fantastic if, through dialogue, South Africans could genuinely unite behind a common vision and programme. However, the National Dialogue is at odds with the prevailing national mood,... 


TRADING SPACES: South Africa’s objective of diversifying its export markets in light of a rise in protection, prompted primarily by US President Donald Trump’s ‘America First’ agenda, is a correct one. Implementing the strategy, however, will be far more challenging and could well pose new risks. In the scramble to find alternative markets, South Africa must not rush into deals it could regret in future.

TRADING SPACES

15th August 2025

South Africa’s objective of diversifying its export markets in light of a rise in protection, prompted primarily by US President Donald Trump’s ‘America First’ agenda, is a correct one.... 


HAIR RAISING: The impact of the tariffs being imposed by President Donald Trump’s administration on most countries, including South Africa, will probably not be felt immediately. Over time, however, the costs to American consumers and export-oriented countries and companies could be high. Most costly, arguably, is the damage it has caused to the multilateral rules-based system, with trade now at the mercy of short-term dealmaking where tactics always trump strategy.

HAIR RAISING

8th August 2025

The impact of the tariffs being imposed by President Donald Trump’s administration on most countries, including South Africa, will probably not be felt immediately. Over time, however, the costs to... 


REFORM WRANGLES: Business Leadership South Africa CEO Busisiwe Mavuso offered this scathing assessment of Transnet following a recent decision by S&P Global to downgrade its credit rating: “S&P is calling out what has become clear to many of us – Transnet is seemingly resisting change and moving too slowly.” Transnet, on the other hand, insists progress is being made. Expect these wrangles to continue in both power and logistics as Eskom and Transnet struggle to face up to competition.

REFORM WRANGLES

1st August 2025

Business Leadership South Africa CEO Busisiwe Mavuso offered this scathing assessment of Transnet following a recent decision by S&P Global to downgrade its credit rating: “S&P is calling out what... 


FRAYING LINE: Recent developments in the South African Police Service and the political ecosystem that surrounds it are not entirely surprising. Organised syndicates that seem to abound locally will always seek to protect themselves by cultivating relations with powerful police officers and politicians. These developments, together with what is clearly a serious integrity crisis in the criminal justice system, are nevertheless shocking and pose a genuine threat to democracy.

FRAYING LINE

25th July 2025

Recent developments in the South African Police Service and the political ecosystem that surrounds it are not entirely surprising. Organised syndicates that seem to abound locally will always seek... 




DIALOGUE KNOT: Few truly have much hope that the National Dialogue will yield the solutions needed to put out the fires associated with the country’s paltry growth and deep-rooted social problems. It has also now become something of a political knot after the firing of the Democratic Alliance’s Andrew Whitfield for a travel indiscretion. Those who dislike the current composition of the Government of National Unity will, no doubt, help fan the flames.

DIALOGUE KNOT

18th July 2025

Few truly have much hope that the National Dialogue will yield the solutions needed to put out the fires associated with the country’s paltry growth and deep-rooted social problems. It has also now... 


WORRYING SIGNS: A recent Human Sciences Research Council survey showed that most adults are concerned that political parties are being influenced by donations from wealthy elites. This, despite low levels of support for laws such as the Political Funding Act. The apparent contradiction most likely stems from growing dissatisfaction with the political and democratic status quo, which the survey also confirmed.

WORRYING SIGNS

11th July 2025

A recent Human Sciences Research Council survey showed that most adults are concerned that political parties are being influenced by donations from wealthy elites. This, despite low levels of... 


HOWZAT

HOWZAT

4th July 2025

South Africa’s Proteas made history at Lord’s in London last month when Temba Bavuma led his team to an historic victory over their Australian rivals, who were strongly favoured to win the one-off... 


FACTS & STATS: While it is not certain whether the renowned American writer Mark Twain really said: “There are three kinds of lies: lies, damned lies, and statistics”, the following quote is also often attributed to him: “Facts are stubborn things, but statistics are pliable.” The pliability of South Africa’s own unemployment statistics is now under the spotlight after Capitec CEO Gerrie Fourie questioned Statistics South Africa’s figures, despite these being based on a methodology that is far more orthodox than Fourie’s.

FACTS & STATS

27th June 2025

While it is not certain whether the renowned American writer Mark Twain really said: “There are three kinds of lies: lies, damned lies, and statistics”, the following quote is also often attributed... 


FUTURE IMPERFECT: The immediate threat of the so-called ‘gas cliff’ may be mitigated through a proposed move by Sasol to divert some methane-rich gas, produced synthetically from coal, to industrial consumers until 2030. This will come at a higher cost than current imports from southern Mozambique, but should extend the supply plateau from 2028 to 2030. There is still little certainty what will happen thereafter, though.

FUTURE IMPERFECT

20th June 2025

The immediate threat of the so-called ‘gas cliff’ may be mitigated through a proposed move by Sasol to divert some methane rich gas, produced synthetically from coal, to industrial consumers until... 


METRO MESS: For those living in South Africa’s largest cities, the latest report by the Auditor-General of South Africa was no surprise. Only the City of Cape Town received a clean audit, pointing to ongoing problems with financial management. And where finances fail, so do services, whether water or electricity, waste removal or traffic lights, or the proper maintenance of roads.

METRO MESS

13th June 2025

For those living in South Africa’s largest cities, the latest report by the Auditor-General of South Africa was no surprise. Only the City of Cape Town received a clean audit, pointing to ongoing... 


CONFLICT & DRAMA: Reality shows such as Survivor and The Apprentice, which Donald Trump coproduced, thrive on conflict and drama. South Africans had a front row seat as the now President Trump turned his Oval Office meeting with President Cyril Ramaphosa into a reality show on political steroids. Targeted to domestic voters, world leaders will think twice before doing likewise. But as Maximus in the blockbuster Gladiator yelled after dispatching his opponents with murderous force: “Are you not entertained?”

CONFLICT & DRAMA

6th June 2025

Reality shows such as Survivor and The Apprentice, which Donald Trump coproduced, thrive on conflict and drama. South Africans had a front row seat as the now President Trump turned his Oval Office... 


ON THE EDGE: South Africans have become almost numb to our extreme unemployment scourge. News about the latest deterioration in the official unemployment rate to 32.9% in the first quarter failed, therefore, to send the shockwaves it truly should have. The potential and real social ills that accompany such rates should be keeping us all awake at night.

ON THE EDGE

30th May 2025

South Africans have become almost numb to our extreme unemployment scourge. News about the latest deterioration in the official unemployment rate to 32.9% in the first quarter failed, therefore, to... 


TRADE TUSSLES: The most extreme tariffs announced by US President Donald Trump on ‘Liberation Day’ have been paused and some bilateral ‘deals’ have been struck. Nevertheless, the trading environment is tighter and more uncertain than was the case at the start of the year and there are few immediate prospects of any return to a rules-based system. Instead there is an ever increasing number of flimsy bilateral barter deals.

TRADE TUSSLES

23rd May 2025

The most extreme tariffs announced by US President Donald Trump on ‘Liberation Day’ have been paused and some bilateral ‘deals’ have been struck. Nevertheless, the trading environment is tighter... 


ACTION: It may be the third attempt, but crafting a Budget that meets the expansionary aspirations of some, the demands for cuts by others, while remaining within the debt limits desired by just about everyone else will be an extremely difficult balancing act. What’s more, the growth and, thus, probably the revenue outlook will need to be moderated relative to the February projections to remain credible.

ACTION

16th May 2025

It may be the third attempt, but crafting a Budget that meets the expansionary aspirations of some, the demands for cuts by others, while remaining within the debt limits desired by just about... 


NEW PERIL: South Africa was hoping to begin breaking free from its low-growth trap this year. It avoided what would have been another self-inflicted wound by allowing the spat over VAT to break up the Government of National Unity. But the uncertainty created by the tariff wars could well knock us down yet again.

NEW PERIL

9th May 2025

South Africa was hoping to begin breaking free from its low-growth trap this year. It avoided what would have been another self-inflicted wound by allowing the spat over VAT to break up the... 


STEEL ECHOES: The similarities in the debate over the future of British Steel, in Scunthorpe, England, and ArcelorMittal South Africa’s Newcastle Works, in KwaZulu-Natal, are striking. While production and jobs at the UK plant have been saved through government taking control, the current Newcastle reprieve is being paid for by the State-owned Industrial Development Corporation. In both cases, though, the longer-term outlook is unclear.

STEEL ECHOES

2nd May 2025

The similarities in the debate over the future of British Steel, in Scunthorpe, England, and ArcelorMittal South Africa’s Newcastle Works, in KwaZulu-Natal, are striking. While production and jobs... 


Cartoon image

WREAKING HAVOC

25th April 2025

WREAKING HAVOC: President Donald Trump’s supporters continue to insist he has a coherent and workable economic vision and plan. Economists are sceptical, however, and markets, which admittedly tend... 


EXTREME RIDE: Those in business who previously believed that President Donald Trump’s most extreme instincts would be tamed by stock market reactions and/or unfavourable polls have been rudely awakened by his disastrous tariff announcements. With the internal guardrails having been dismantled in the sycophantical Trump 2.0 executive, many now fear the worst.

EXTREME RIDE

18th April 2025

Those in business who previously believed that President Donald Trump’s most extreme instincts would be tamed by stock market reactions and/or unfavourable polls have been rudely awakened by his... 


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