WATCH | ANC secretary-general Fikile Mbalula says the party will announce its mayoral candidates in two weeks after analysing the results. He added that any coalition negotiations will be led by the national officials, not regional structures. He was speaking after voting in… pic.twitter.com/NcEYPKkQyE

— Sowetan (@Sowetan1981) November 4, 2026

November 4 2026, 14:23

WATCH | ANC Secretary general Fikile Mbalula has cast his vote at the Orange Grove Primary School in the north of Johannesburg.

Video: Kgothatso Madisa pic.twitter.com/BazIL50aU6

— Sowetan (@Sowetan1981) November 4, 2026

November 4 2026, 14:12

WATCH | Former President and MK Party leader Jacob Zuma casting his vote at Ntolwane Primary School in Nkandla during the 2026 local government elections. pic.twitter.com/FIj7OVhGMG

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 14:02

Thokoza voters doubt election will bring change

High crime levels, substance abuse and youth unemployment are among the many concerns weighing on Thokoza residents as they cast their votes.

Speaking to Sowetan, many said they hoped the next local government would deliver meaningful change rather than more promises.

Thokoza voters doubt election will bring change

November 4 2026, 13:54

3.5-million South Africans voted in first three hours, says IEC

More than 3.5-million South Africans had cast their ballots by 10am on Wednesday as voting got under way across the country for the 2026 local government elections.

Voting opened at 7am and is expected to close at 9pm with the Electoral Commission of South Africa (IEC) reporting that 98% of the country’s 23,996 voting stations had opened by the regulated time.

3.5-million South Africans voted in first three hours, says IEC

November 4 2026, 13:50

WATCH | Correctional services minister and FF Plus co-founder Pieter Groenewald says the party is creating new hope for the future as South Africans vote on Wednesday. pic.twitter.com/n934YgxctE

— Sowetan (@Sowetan1981) November 4, 2026

November 4 2026, 13:36

Don’t let let service delivery issues stop you from voting: Limpopo premier Ramathuba

Limpopo premier Phophi Ramathuba says the government does not have to wait for elections to be over before addressing challenges affecting communities, pointing to interventions in several municipalities across the province.

Speaking to Sowetan after casting her ballot on Wednesday morning at Mokopane Primary School in the Mogalakwena local municipality, Ramathuba acknowledged that residents continued to face challenges, including unemployment, water shortages and poor roads.

Don’t let let service delivery issues stop you from voting: Limpopo premier Ramathuba

November 4 2026, 13:35

No water, no voter: taps as dry as early turnout in Orlando East, Soweto

No water. Almost no voters. A double crisis defined the early part of election day in Orlando East as residents went to the polls with dry taps and empty voting stations.

At voting stations in Orlando East on Wednesday morning, the halls were almost empty. For many, the message in the dry water pipes matched the mood at the ballot box.

No water, no voter: taps as dry as early turnout in Orlando East, Soweto

November 4 2026, 13:17

Khayelitsha voters voice dismay over crime and poor service

For a month, Pamela Bheshula, 64, says she has been without water because of a leak in her yard.

She arrived at Sivuyiseni Primary School, a voting station in Mandela Park, Khayelitsha, accompanied by two friends.

Khayelitsha voters voice dismay over crime and poor service

November 4 2026, 13:16

Election day glitches: a cop with political posters, a drunken voter and a collision with a cow

A police officer was removed from a KwaZulu-Natal voting station on Wednesday morning after she arrived in a vehicle branded with posters from a political party, according to police spokesperson Col Robert Netshiunda.

The sergeant was removed from her Mphithini-area voting station post, in Donnybrook, with the possibility of internal disciplinary processes being instituted following her alleged unprofessional conduct.

Election day glitches: a cop with political posters, a drunken voter and a collision with a cow

November 4 2026, 13:01

WATCH LIVE | IEC briefs media on progress of local government elections

November 4 2026, 12:52

‘Voting changes situations’: Ekurhuleni voters seek jobs and better services

Unemployment was a key concern raised by Ekurhuleni residents as they cast their votes in Wednesday’s local government elections.

At Endulwini voting station in Thembisa, residents said they hoped their votes would bring better services, more job opportunities and improvements in their communities.

‘Voting changes situations’: Ekurhuleni voters seek jobs and better services

November 4 2026, 12:51

President Cyril Ramaphosa says more money will be allocated to deal with gender-based violence. He was speaking in Hyde Park, Joburg, after casting his vote. pic.twitter.com/ELdgENEc6M

— Sowetan (@Sowetan1981) November 4, 2026

November 4 2026, 12:45

WATCH | Gauteng Premier Panyaza Lesufi voted at Maokeng voting station in Tembisa, saying he still votes in the community that raised him. He is confident in the ANC’s performance in the province. pic.twitter.com/8tSPlyN0KE

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 12:38

‘My voice is finally getting heard’: First-time voters share hopes

Young voters have called for more job opportunities and safer communities, saying casting their ballots gave them a sense of hope and a chance to shape the future of their city.

A relieved 24-year-old Puseletso Mafuma said voting for the first time made her feel that her voice mattered.

‘My voice is finally getting heard’: First-time voters share hopes

November 4 2026, 12:32

WATCH | MK Party member Dali Mpofu says the aim should be to take government away from the "ANC of Ramaphosa". pic.twitter.com/7a7txm0ENV

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 12:26

Ramaphosa votes in DA stronghold of Hyde Park

President Cyril Ramaphosa voted in Hyde Park on Wednesday, casting his ballot in the Johannesburg suburb where he lives rather than in Soweto, where he grew up and usually voted.

Electoral Commission (IEC) rules require people to vote at the station where they are registered.

Ramaphosa votes in DA stronghold of Hyde Park

November 4 2026, 12:25

IN PICS | Political leaders cast their votes

Leaders from across the political spectrum joined millions of South Africans at polling stations on Wednesday as the country headed to the polls for the local government elections.

IN PICS | Political leaders cast their votes

November 4 2026, 12:23

WATCH | Ntyatyambo Zwelimangele Volsaka, deputy chairperson of the South African Students Congress (Sasco) in Johannesburg, said it was important for young people to exercise their democratic right to vote and choose leaders they believed could best represent them.

He said those… pic.twitter.com/xKzmREX7TD

— Sowetan (@Sowetan1981) November 4, 2026

November 4 2026, 12:11

Zille vows swift action on Joburg water crisis

Helen Zille said should she be elected mayor of Johannesburg, her immediate priority would be addressing the water challenges confronting South Africa’s economic and financial heartland.

Zille vows swift action on Joburg water crisis

November 4 2026, 12:08

WATCH | BOSA leader Mmusi Maimane speaking after voting in Dobsonville. pic.twitter.com/1LItCdtS5L

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 12:05

Buffalo City mayor joins queue after residents refuse to let her skip voting line

Buffalo City metropolitan municipality mayor Princess Faku was forced to join the queue like other voters after residents at a voting station in Gonubie refused to allow her to skip the line.

Buffalo City mayor joins queue after residents refuse to let her skip voting line

November 4 2026, 12:05

WATCH | Freedom Front plus leader Dr Corne Mulder speaking following his vote. pic.twitter.com/fr1voRn5eZ

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 12:00

Young and elderly voters are making their way to the polls at the Old Mutual Sports Hall at Wits University amid water and electricity challenges on campus. pic.twitter.com/eW7N7PmSMI

— Sowetan (@Sowetan1981) November 4, 2026

November 4 2026, 11:56

WATCH | ANC deputy President Paul Mashatile greets party volunteers at the gazebo outside the St Johannes Lutheran church in Kelvin and signs their register. pic.twitter.com/X0IFCrw53i

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 11:55

WATCH | Young people sit outside a spaza shop in Evaton, Emfuleni, highlighting the unemployment crisis facing residents. Despite having gone to school, they say they remain without jobs and are forced to ask passers-by for as little as R2. pic.twitter.com/cyW93mCR6X

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 11:53

ANC T-shirt, broken ID keep these Nyanga voters from casting ballots

“I would rather go home and drink because now I am being sent from pillar to post.”

These were the words of Zuko Jada, 42, who was turned away from Mvula Primary School, a voting station in Nyanga, after arriving to cast his ballot wearing an ANC T-shirt.

ANC T-shirt, broken ID keep these Nyanga voters from casting ballots

November 4 2026, 11:53

WATCH | City of Johannesburg resident Mr Masango from Emmarentia hopes his vote will bring morality but wonders what will be left for the next generation. pic.twitter.com/S4daeCNKq3

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 11:28

WATCH | Former president Kgalema Motlanthe says he understands South Africans’ frustrations with local government, adding that this is where the state ought to be most efficient. He was speaking after casting his vote at Killarney Country Club. pic.twitter.com/8BgsePXQy3

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 11:21

WATCH | ‘Fake’ ID disrupts voting at Rabie Ridge

Police had to be called at a Midrand voting station after a squabble broke out when a voter produced an alleged fake ID.

According to an eyewitness, the man walked in and produce the suspected ID. The security was called to ensure the voters are safe at Kanana Primary School in Midrand.

WATCH | ‘Fake’ ID disrupts voting at Rabie Ridge

November 4 2026, 11:21

Piet Kekana, 63, from Hammanskraal, Tshwane, says he voted for a party that will bring change and fight crime in the area.
Video: @Moloi_Herman1 pic.twitter.com/zAbDL6yxSd

— Sowetan (@Sowetan1981) November 4, 2026

November 4 2026, 11:14

Emfuleni residents jump over running sewage on way to polling station

Some residents of Emfuleni local municipality in the Vaal had to jump over sewage running down their streets as they made their way to polling stations on Wednesday.

The municipality has been plagued by service delivery challenges such as open sewage, pothole-riddled roads and uncollected rubbish.

Emfuleni residents jump over running sewage on way to polling station

November 4 2026, 11:11

WATCH | Former president Kgalema Motlanthe casts his ballot at Killarney Country Club pic.twitter.com/IIAhy2493n

— Sowetan (@Sowetan1981) November 4, 2026

November 4 2026, 11:02

WATCH | Limpopo premier Dr Phophi Ramathuba arrives at Mokopane Primary School in Mogalakwena Local Municipality, where she is expected to cast her vote. pic.twitter.com/HhQUcS9Dlc

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 206, 10:51

WATCH | DA mayoral candidate, Helen Zille, arrives at Emmarentia Primary School. She says the DA hopes for an outright majority, but if they don’t achieve it, then they’ll look at the different coalition options and take the least bad option. pic.twitter.com/CjbhrG6bmK

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 10:44

WATCH | President Cyril Ramaphosa has cast his vote in Hyde Park, Johannesburg. pic.twitter.com/j6LpHZj5cH

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 10:42

WATCH | ActionSA mayoral candidate Xolani Khumalo, who voted in Thembisa on Wednesday, urges young people in Ekurhuleni to vote. pic.twitter.com/wdjZOtvFJ2

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 10:35

Pensioners turn out in numbers at Hammanskraal voting stations

Pensioners outnumbered younger voters at several polling stations in Hammanskraal, Tshwane, on Wednesday morning.

Many elderly residents went to voting stations very early to cast their ballots in the hope the next local government administration would address the area’s longstanding service delivery challenges.

Pensioners turn out in numbers at Hammanskraal voting stations

November 4 2026, 10:32

WATCH | IEC chair Mosotho Moepya has urged South Africans to be vigilant against misinformation and disinformation on voting day. pic.twitter.com/eAniDdA3Vi

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 10:29

WATCH | DA leader and Cape Town mayor Geordin Hill-Lewis cast his ballot at his alma mater, Edgemead Primary School, in Milnerton. He’s called on DA supporters in Cape Town to come out and vote in large numbers. He says a high voter turnout among blue party supporters is the only… pic.twitter.com/yjiUVuikvs

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 10:17

WATCH | Action SA leader Herman Mashaba encourages South African’s to vote in their numbers. He was speaking at the Sandton Fire Station voting station pic.twitter.com/pNFh1HPvwa

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 10:05

IN PICS | South Africans head to the polls

Voters headed to the polls on Wednesday to elect municipal councillors across the country in a major test for the governing ANC after losing its national majority in 2024.

Water shortages, electricity failures, crime, unemployment and poor municipal services are central election issues.

The election could reshape local political alliances and influence the country’s political direction ahead of the 2029 national elections.

IN PICS | South Africans head to the polls

November 4 2026, 10:04

IEC outlines election day dos and don’ts

The Electoral Commission of South Africa (IEC) has reminded political parties and municipal councillors of the legal regulations surrounding campaigning as the country heads to the polls today.

Voting stations opened nationwide at 7am and are scheduled to close at 9pm.

According to the IEC, voting has commenced smoothly across the country, with all stations successfully opening and no major glitches reported.

IEC outlines election day dos and don’ts

November 4 2026, 10:00

WATCH | EFF’s Johannesburg mayoral candidate Dr Tlaleng Mofokeng reflects on her campaign journey just moments before she voted in Parkmore, Johannesburg. She urged young voters to show up at the polls and make their mark in order to decide their own future. pic.twitter.com/5WyiIyWQtr

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 09:52

WATCH | Eighty-four-year-old Linah Kwinika from Hammanskraal, who voted for a government that will provide clean tap water. pic.twitter.com/xNKX5vSByS

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 09:50

ANC wants clear majority in Joburg, says mayoral candidate Loyiso Masuku

The ANC in Johannesburg has set terms for its coalition negotiations, saying that as much as they want an outright majority, should the council be split, they would want to work with political parties that are obsessed with service delivery.

This is according to ANC regional chair and mayoral candidate Loyiso Masuku, who said that her political party wanted Johannesburg residents to give them a clear majority.

ANC wants clear majority in Joburg, says mayoral candidate Loyiso Masuku

November 4 2026, 09:06

City of Johannesburg deputy mayor and ANC regional chair Loyiso Masuku says she’s casting her vote for the ANC in order to defend the gains of democracy. Masuku, who is also the ANC’s mayoral candidate in Johannesburg, was casting her vote in Mulbarton Primary School.… pic.twitter.com/F7QqVKNE45

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026, 09:00

WATCH | Voting is underway at Mandisa Shiceka School of Specialisation in Kagiso, Ward 7, with voters arriving in numbers. First voter Benard Kunene says he doesn’t want to complain about service delivery without playing his part. He wants the streets repaired and the electricity… pic.twitter.com/rdU657lvit

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026 8:42

JUST IN | The voting station at Kanana primary school in Midrand opened more than an hour late. Some residents said they had been queueing since 5am. Our reporter Koena Mashale has more details for you.
Download our App, follow our WhatsApp channel for the latest news. pic.twitter.com/G0zEn2qaXQ

— Sowetan (@Sowetan1981) November 4, 2026

November 4 2026 08:11

Votes in local polls expected to further weaken ANC grip

South Africans vote in municipal elections on Wednesday, with anger over corruption, crime and failing public services threatening to deal another blow to the ANC.

The party dropped below 50% support for the first time in the 2021 municipal elections, and could plunge below 40% this time, according to polls.

With no other party large enough to take its place, many cities in South Africa are heading for unsteady coalition governments that have been partly blamed for failing to deliver basic services, including water and electricity.

Votes in local polls expected to further weaken ANC grip

November 4 2026 08:04

The DA and the ANC supporters have already set up heir stations at the Mulbarton Primary School voting centre in Johannesburg South. The City of Johannesburg deputy mayor Loyiso Masuku is expected to cast her vote at this station. #Elections2026 pic.twitter.com/ranmDJRoAu

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026 08:02

Voters have already started queuing at Mulbarton Primary School in Johannesburg South. pic.twitter.com/dCaz8Cs3hS

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026 07:58

Hostel voter calls for action against gun crimes

The Saulsville hostel voting station near Atteridgeville, west of Pretoria, is a few metres away from the hostel block where there was a mass shooting in an illegal tavern late in 2025 in which 12 people were killed.

Long-time resident Pheyi Ngobese pleaded for action against crime in the area.

Hostel voter calls for action against gun crimes

November 4 2026 07:58

Cost of living is top concern for Saulsville voters

As local government elections kick off this morning, at the Motsweding combined school voting station in Saulsville, west of Pretoria, voters had begun lining up at 5am.

Madumetja Mothabele was eager to cast his vote.

“I woke up at 4am and arrived at 5am. I wanted to be here early and I became number one in line. We want service delivery and lights, and our rent is very expensive,” he said.

Cost of living is top concern for Saulsville voters

November 4 2026 07:51

Your X has a reason. Is it the pothole that rattled your car, the tap that ran dry, the uncollected waste, or the lights that went out? Let us know which municipal service guarantee or concern will carry the most weight when you cast your vote. The comment section belongs to you. pic.twitter.com/MUQEiTw7KV

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026 07:08

ELECTION DAY: Sowetan wants to hear from you!

Send us a voice note, videos and images on 071-556-4784.

ELECTION DAY | Make your vote count. You could be voting because you want to reward council officials who have done a great job in your area or maybe you want change. Sowetan would like to hear from you. Cast your vote and send Sowetan a voice note, video or images sharing your… pic.twitter.com/1JUlzuqTYf

— Sowetan (@Sowetan1981) November 4, 2026

November 4 2026 7:00

KZN parents urge voters to ‘behave’ at school stations

Vee Gani, head of the Parents Association of KwaZulu-Natal, has urged voters to “behave” peacefully at school voting stations and protect facilities children depend on.

Gani said voters should take disputes to Electoral Commission of South Africa (IEC) officials respectfully, warning violence could leave schools damaged and disrupt learning during matric exams.

KZN parents urge voters to ‘behave’ at school stations

November 4 2026 6:50

Today, the ballot box takes centre stage. Cast your vote, then join The Political Arena for live conversations, exclusive interviews and real-time answers on what this election means for you. Every cross counts, and we’re watching every count. Live on the Sunday Times, TimesLIVE,… pic.twitter.com/OHbHNh9Shp

— Times LIVE (@TimesLIVE) November 4, 2026

November 4 2026 6:46

‘Your vote, your voice’: South Africans urged to turn out for local government elections

The government has encouraged South Africans to exercise their right to vote in the local government elections on November 4.

The Electoral Commission of South Africa (IEC) concluded its two-day special voting process on Tuesday, with a total of 1,425,942 special votes cast across Monday and Tuesday ahead of the main election day.

‘Your vote, your voice’: South Africans urged to turn out for local government elections

November 4 2026 6:00

Low turnout, coalition chaos looms as voters lose faith

The battle for control of SA’s municipalities is expected to end in another round of coalition horse-trading, with more hung councils projected and growing numbers of disillusioned voters potentially staying away from the polls.

There is a lot at stake as millions head to cast their ballots on Wednesday, experts say.

Political analyst Tessa Dooms warned that the elections were likely to produce more coalition governments than ever before, with smaller parties and independent candidates potentially holding the balance of power in municipalities across the country.

“In 2021, we ended up with about 70 hung municipalities where coalitions needed to be formed,” she said. “In 2026, it’s estimated that we will have many more hung municipalities that will have coalitions.”

Low turnout, coalition chaos looms as voters lose faith

November 4 2026 5:30

GHALEB CACHALIA | DA’s diversity faces test beyond the candidate bus

The DA has an appealing proposition for South Africa. It is the country’s most diverse political party with a substantial black following, united not by race but by shared values. The rainbow, it seems, has acquired a corporate colour scheme.

There is, of course, nothing wrong with political diversity. Nor is there anything inherently suspicious about a party organising transport to rallies, feeding its activists or training aspiring public representatives. Politics requires organisation and sandwiches do not, in themselves, constitute a constitutional crisis.

But there is a more interesting question than how many black faces a party can assemble for a photograph. That question is: does racial diversity in the ranks translate to diversity of thought, genuine participation in decision-making and an equitable distribution of political power?

GHALEB CACHALIA | DA’s diversity faces test beyond the candidate bus

November 4 2026 5:00

Agoa fallout exposes ANC-DA foreign policy rift

The US’s decision to withdraw South Africa’s Agoa benefits has exposed divisions between the ANC and DA over the country’s foreign policy, with the governing party alleging an attempt to influence voters as the ANC faces mounting electoral pressure.

The ANC, on the one hand, has questioned the timing of Washington’s decision to withdraw South Africa’s preferential trade benefits from January 2027, suggesting it could be an attempt to intimidate voters and pressure the government to abandon its transformation agenda.

Agoa fallout exposes ANC-DA foreign policy rift

November 3 2026 21:11

Tshwane residents hope their vote will bring clean water, electricity and roads

On Tuesday, it had been two weeks since Gritah Ntuli, 62, had seen a water tanker in the Maheights informal settlement in Bronkhorstspruit, Tshwane, where she lives.

Whenever she needed water to bath or do laundry, she would take her family’s clothes to the stream and wash them there, while also collecting bath water for the whole family.

For drinking and cooking water, she has to reach into her pocket and buy it.

Tshwane residents hope their vote will bring clean water, electricity and roads

November 3 2026 20:14

Political intolerance and protests among threats facing Western Cape elections

Political intolerance, intra- and inter-party conflict, criminal activity and protests have been identified as some of the threats facing voting stations in the Western Cape ahead of Wednesday’s local government elections.

Provincial police commissioner Lt-Gen Sizakhele Dyantyi said 33 of the province’s 1,633 voting stations had been classified as high-risk, while the remainder were categorised as medium- and low-risk.

Political intolerance and protests among threats facing Western Cape elections

November 3 2026 20:06

IEC warns political parties to stop campaigning at midnight ahead of polling day

Political parties, independent candidates and their supporters have until midnight on Tuesday to campaign ahead of the 2026 local government elections, with the Electoral Commission of South Africa (IEC) warning that all campaigning must stop before voters head to the polls on Wednesday.

IEC chairperson Mosotho Moepya reminded political parties and candidates that the electoral timetable prohibits campaigning after midnight, including door-to-door canvassing, demonstrations and rallies.

IEC warns political parties to stop campaigning at midnight ahead of polling day

November 3 2026 20:04

IN PICS | Special voting continues for millions in local elections

More than 2.5-million voters were approved to cast special votes ahead of the local government elections, with the two-day voting process taking place on Monday and Tuesday.

The second day of special voting got off to a slow start at some voting centres in Johannesburg, where elderly voters were among those expected to cast their ballots.

IN PICS | Special voting continues for millions in local elections

November 3 2026 19:07

IEC concludes special voting as 1.4-million South Africans cast ballots ahead of election day

The Electoral Commission of South Africa (IEC) has concluded its two-day special voting process with more than 1.4-million voters having cast their ballots ahead of the 2026 local government elections.

The special voting process, which took place on November 2 and 3, provided an opportunity for approved voters who would otherwise be unable to visit voting stations on election day to cast their ballots in advance.

IEC concludes special voting as 1.4-million South Africans cast ballots ahead of election day

November 3 2026 18:55

IEC assures South Africans of credible elections amid attempts to ‘impugn’ the polls

The Electoral Commission of South Africa (IEC) has assured South Africans that it has done everything possible within its powers to deliver credible local government elections.

This comes as the electoral body says it has picked up attempts from some quarters to malign the integrity of the elections a day before millions of South Africans head to the polls.

November 3 2026 18:13

Five things you need to know from IEC’s election briefing

The Electoral Commission of South Africa (IEC) has warned against the spread of unsubstantiated election-fraud claims, saying they are fuelling misinformation on social media.

It also reported incidents of intimidation, disruptions and attempted tampering with election materials.

Five things you need to know from IEC’s election briefing

November 3 2026, 18:07

IEC assures South Africans of credible elections amid attempts to ‘impugn’ the polls

The Electoral Commission of South Africa (IEC) says it can assure South Africans that it has done everything possible within its powers to deliver credible local government elections.

This comes as the electoral body says it has picked up attempts from some quarters to malign the integrity of the elections a day before millions of South Africans head to the polls.

More than 29-million potential voters will have an opportunity to make their preferred choice among the 136,790 candidates, representing a total of 546 political parties across the country.

November 3 2026, 16:30

“Sibagadile, we are watching them closely,” says MKP’s Bongani Baloyi on IEC

Umkhonto weSizwe’s Johannesburg mayoral candidate Bongani Baloyi has issued a stern warning, saying that his party is closely guarding the local elections.

“Sibagadile (We are watching them closely). Our position is to operate from a level of distrust and that’s why we’ve deployed all sorts of mechanisms to protect interest and to protect our vote.”

Baloyi’s party was among those that questioned the integrity of the electoral commission in the previous election, where MKP claimed to have been robbed of votes and their intended two thirds majority.

‘Sibagadile, we are watching them closely,’ says MKP’s Bongani Baloyi on IEC

November 3 2026, 16:25

KZN election officer fired for using party-branded car to carry ‘sensitive’ election material

A KwaZulu-Natal presiding officer was dismissed on Tuesday for transporting sensitive election material in a party political branded vehicle.

In an update on special votes on Tuesday, Electoral Commission of SA (IEC) provincial electoral officer Ntombfuthi Masinga said the presiding officer from Hammarsdale was seen boarding an e-hailing taxi branded in party colours.

“On investigation, it was established that the e-hailing taxi did belong to the presiding officer concerned and was driven by her son,” she said.

KZN election officer fired for using party-branded car to carry ‘sensitive’ election material

November 3 2026, 16:15

IEC cannot confirm reports of dress-code restrictions at KZN voting station

The Electoral Commission of South Africa (IEC) says it has no information to report on allegations of a strict dress code being enforced at the Dlamini Tribal Court voting station in eDumbe, northern KwaZulu-Natal, where women were reportedly turned away for wearing trousers.

The allegations emerged during the second day of special voting for the 2026 local government elections after reports by the SABC that women, including an SABC journalist, had been prevented from entering the voting station because they were wearing pants.

IEC cannot confirm reports of dress-code restrictions at KZN voting station

November 3 2026, 16:10

Mokonyane rejects ANC blame for Gauteng water crisis

ANC deputy secretary-general Nomvula Mokonyane has rejected attempts to blame the party for the water crisis gripping parts of Gauteng, arguing that the problem lies with an unreliable water supply system and the various entities responsible for its management.

Mokonyane said the crisis should not be placed at the ANC’s doorstep as residents head to the polls in the local government elections, insisting it was a national problem requiring interventions beyond individual municipalities.

Mokonyane rejects ANC blame for Gauteng water crisis

November 3 2026, 16:05

34 election misinformation complaints as candidates, supporters face arrests: IEC

The Electoral Commission of South Africa (IEC) has warned political parties and their supporters against spreading unsubstantiated claims of election fraud, saying misleading social media posts are threatening the integrity of the local government elections.

Chief electoral officer Sy Mamabolo said the commission’s information integrity hub had identified increasing attempts to undermine confidence in the electoral process, particularly through social media platforms.

November 3 2026 16:03

EXPLAINER | What voters can expect at polling stations

As South Africans head to the polls on Wednesday for the 2026 local government elections, voters can expect a series of steps before casting their ballots.

From presenting the correct identification document to ensuring ballot papers are valid, the Electoral Commission of South Africa (IEC) has outlined a process aimed at making voting easier while safeguarding the integrity and secrecy of the ballot.

IEC assistant manager Mmakgabo Ramatlhodi said voters will first encounter a queue walker who helps manage queues and direct voters at polling stations.

EXPLAINER | What voters can expect at polling stations

November 3 2026, 16:00

WATCH | MK Party’s Bongani Baloyi casting his vote in Sandton on Tuesday. https://t.co/C0rQjkUsGV

— Times LIVE (@TimesLIVE) November 3, 2026

November 3 2026 15:25

Why Rustenburg is one of the most hotly contested municipalities

Rustenburg’s economic significance makes it one of the most important municipalities to watch in Wednesday’s local government elections, but attention is focused on major metros, says political analyst Prof André Duvenhage.

Duvenhage, from North-West University, warned that sluggish economic growth, poor service delivery and deteriorating infrastructure continue to undermine municipalities such as Rustenburg in the North West.

“We have major challenges. One of the biggest is the failure to create sustained economic growth and development. Statistics show that over the past decade growth has remained below 1%,” he said.

Why Rustenburg is one of the most hotly contested municipalities

November 3 2026 14:30

WATCH | Shortly after casting her vote in Mogale City, ANC’s Nomvula Mokonyane addressed key issues, including the water crisis in Johannesburg and across the country, as well as the decision by US President Donald Trump’s administration to remove South Africa from AGOA beneficiary status.

WATCH | Shortly after casting her vote in Mogale City, ANC’s Nomvula Mokonyane addressed key issues, including the water crisis in Johannesburg and across the country, as well as the decision by US President Donald Trump’s administration to remove South Africa from AGOA beneficiary status.

— Times LIVE (@TimesLIVE) November 3, 2026

November 3 2026, 13:25

Police arrest Limpopo voter for taking photo of marked ballot

A 32-year-old man has been arrested for allegedly photographing his marked ballot paper at a voting station in Limpopo, with police searching for a second suspect accused of the same offence.

Limpopo police spokesperson Brig Hlulani Mashaba said the incidents occurred at Chuchekani Primary School voting station in the Humulani settlement in Lulekani on Monday.

Mashaba said the first incident was reported at about 10am when a 32-year-old voter allegedly photographed his ballot paper after voting. The presiding officer confronted him and informed him that photographing a marked ballot paper was against electoral rules.

Police arrest Limpopo voter for taking photo of marked ballot

November 3 2026, 12:30

‘People must vote or nothing will be done’

For some elderly voters at the Joubert Park Lapeng Child and Family Resource Centre in Johannesburg, voting is more than a right; it is a tradition and an opportunity to help secure a better future for the next generation.

Speaking to TimesLIVE, Sowetan’s sister publication, John Masuku, who lives in Hillbrow, said he was voting because he wanted to see improvements in his community, particularly the condition of the roads.

He said the roads and robots where he stays don’t work, and he finds it hard to cross a busy road. “I’m voting because I need the roads to be fixed. I’m old now, and sometimes I can’t cross the road alone because they are always busy, so I ask my grandchildren to help me cross,” he said.

‘People must vote or nothing will be done’

November 3 2026 12:11

MALAIKA MAHLATSI | Years of Joburg rot is now rubbish on our pavements

On Tuesday morning, one day before millions of South Africans head to the polls to cast their votes in the 2026 local government elections, I walked through the streets of my neighbourhood in the northern suburbs of Johannesburg.

Every street was lined with overflowing bins and half-open refuse bags. Flies and insects have congregated on driveways and entrances to complexes, estates and business premises.

The stench, including from the uncollected waste of numerous restaurants located in the neighbourhood, is paralysing. One day before elections, in the middle of a debilitating heatwave, the northern suburbs of Johannesburg resemble dystopian slums.

MALAIKA MAHLATSI | Years of Joburg rot is now rubbish on our pavements

November 3, 2026, 12:O8

Two arrested in Limpopo for allegedly removing election posters, burning political party T-shirt

Limpopo police have arrested two suspects in two separate cases involving election-related offences, including the alleged unlawful removal of election posters and intimidation.

Two arrested in Limpopo for allegedly removing election posters, burning political party T-shirt

November 3, 2026, 11:40

WATCH LIVE | IEC briefs media on first day of special voting

The Electoral Commission of South Africa is briefing the media on Tuesday about day two of special voting.

WATCH LIVE | IEC briefs media on first day of special voting

November 3 2026, 11:10

MUNICIPAL ELECTIONS | It is a quiet morning at Lapeng child and family resource centre, a voting station in Joubert Park, Joburg. The voting centre is relatively empty, with very little activity as the special voting process gets under way for the second day. Download our App,… pic.twitter.com/JqGEzEBo0e

— Sowetan (@Sowetan1981) November 3, 2026

November 3 2026, 10:35

WATCH | The morning has been quiet at the Joubert Park, Lapeng child and family resource centre, where elderly voters are expected to cast their special votes, with no long queues.

View this post on Instagram

November 3 2026 08:00

GCINA MTENGWANE | When democracy multiplies parties but not purpose

On Wednesday South Africans will face the most crowded local election ballots in the country’s democratic history.

About 546 political parties are contesting. That is about 60% higher than the 325 parties that took part in 2021. Nearly 137,000 candidates are competing for just over 10,500 council seats. These numbers express a constitutional right to form and join political parties.

They also reflect a citizenry that has grown restless with the established order.

GCINA MTENGWANE | When democracy multiplies parties but not purpose

November 2 2026 16:10

THE POLITICAL ARENA | Voter anger or apathy: Will South Africans turn out to demand change?

With South Africa’s November 4 local government elections just days away, voters face a critical choice: how to hold political parties accountable for failing services, and whether changing their vote can reshape the country’s metros.

In this episode of The Political Arena, Business Day political editor Hajra Omarjee is joined by Sowetan editor Sibongakonke Shoba, TimesLIVE and Sunday Times digital politics editor Lizeka Tandwa, and Sunday Times senior political reporter Kgothatso Madisa to examine voter apathy, shifting political loyalties and the battle for control of local government.

November 2 2026 15:40

IEC has over 700 cases of election-related disinformation

The spread of misinformation and disinformation has emerged as a growing concern ahead of South Africa’s local government elections, The Electoral Commission of South Africa (IEC) has received more than 700 complaints about election-related disinformation as voters prepare to go to the polls on Wednesday.

IEC chief electoral officer Sy Mamabolo said some complaints involved content circulating on social media platform X, including photographs manipulated using AI. However, he said the incidents had not significantly disrupted the electoral environment.

IEC has over 700 cases of election-related disinformation

November 2 2026 15:19

Ballot boxes stolen as special voting begins in KZN

Ballot boxes and a training module were reported stolen from Amahlongwa Community Hall in Zambeni, the IEC said in its KwaZulu-Natal special voting update on Monday.

The IEC said replacement election material was delivered and the voting station was operational.

Ballot boxes stolen as special voting begins in KZN

November 2 2026 13:10

RECORDED | IEC briefs media on first day of special voting

The Electoral Commission of South Africa is briefing the media on Monday about day one of special voting.

November 1 2026, 18:02

Surprise! You’re an EFF candidate

The EFF has been dealt an embarrassing court blow after the Electoral Court found that the party nominated a man as its ward councillor candidate without his consent.

The court ruled that Sivuyile Jacquin Tshikila was not an EFF candidate in Ward 03 in the Raymond Mhlaba local municipality in the Eastern Cape. It ordered the IEC to ensure voters could not cast their ballots for him during the local government elections on Wednesday.

The judgment comes a few weeks after the ANC won a court fight for the inclusion of its 181 candidates whose names were not submitted by the party to the IEC for elections.

Surprise! You’re an EFF candidate

November 1 2026 17:50

‘The ANC is still mighty’ | Ramaphosa vows party will defy critics at polls

President Cyril Ramaphosa has dismissed suggestions that the ANC is on a downward spiral, telling supporters in Mdantsane in the Eastern Cape that the party is gaining momentum ahead of Wednesday’s local government elections.

Addressing supporters at the party’s final push to win over voters at the Siyanqoba rally at the Sisa Dukashe Stadium on Sunday, Ramaphosa said the ANC would use the November 4 elections to prove its critics wrong.

“We are three days away from a very important election. Many people are saying the ANC is on its downward spiral. What I am seeing here is that the ANC is going higher and higher, and on November 4 we are going to show those that say ANC is going to lose,” he said.

‘The ANC is still mighty’ | Ramaphosa vows party will defy critics at polls

November 1 2026, 17:45

‘We will take them out’ | Ramaphosa threatens to remove underperforming councillors and mayors

President Cyril Ramaphosa has warned that ANC councillors and mayors who fail to serve communities or misuse public funds will be removed from their positions, saying the party wants ethical, capable and accountable leaders in local government.

Addressing supporters at the ANC’s final rally ahead of elections at Sisa Dukashe Stadium in Mdantsane, Eastern Cape, Ramaphosa said the party expects its elected representatives to prioritise service delivery, responsible spending, and economic development rather than treating political office as a personal entitlement.

“We want to place emphasis on making sure that we get accountable and capable and ethical people who are going to be elected because we want municipalities that are properly run municipalities that use public money responsibly and municipalities that will also maintain infrastructure and support economic development,” he said.

‘We will take them out’ | Ramaphosa threatens to remove underperforming councillors and mayors

November 1 2026, 17:40

Zuma returns to stage, promises MK Party will ‘take back our country’

MK Party president Jacob Zuma told thousands of supporters who braved extreme heat at Princess Magogo Stadium in KwaMashu on Sunday that the MK Party will soon take over the land and lead many municipalities.

“In a few days we will be taking back our country,” Zuma said.

“In a few days we will be taking over our land. We will be in charge of many municipalities. No matter what other people can say and do, we are ready.”

Zuma, 84, was addressing the MK Party’s final Sithatha Omasipala rally ahead of Wednesday’s local government elections.

Zuma returns to stage, promises MK Party will ‘take back our country’

Story audio is generated using AI

The Electoral Commission of South Africa (IEC) has opened a case of theft after unmarked and unused ballot papers were stolen from a voting station in KwaZulu-Natal.

Speaking during a media briefing on Wednesday, IEC deputy chief electoral officer Masego Sheburi said the ballots were stolen from the Mnyameni Secondary School in Kwanyuswa, Botha’s Hill, outside Durban, where they were being kept for validation.

The commission said the station had sufficient materials to continue operating, apart from the voters’ roll.

The IEC did not specify how many ballots were stolen or confirm whether the roll had since been reprinted.

“At one voting station in Ward 2 in eThekwini, unmarked and unused ballots were stolen from the voting station that is used to validate the ballots,” Sheburi said.

He said there were 20 voting stations in the ward and that measures had been put in place to identify the stolen ballot papers should they surface at any of the stations.

A case has been opened with the SAPS and our staff have been relieved of their duty for their dereliction at that voting station

Masego Sheburi, IEC deputy chief electoral officer

“We have put in measures to ensure that should those ballots surface at any of those voting stations, we will be able to identify them.”

Sheburi explained that all ballot papers must carry an official validation stamp on the back, adding that the stolen papers could be distinguished from those being used during Wednesday’s elections.

“And if the stamp that was stolen together with those ballots is used, it is distinguishable from the stamps that are used on election day because it was allocated only for use for special voting days.”

The commission confirmed that a case had been opened with the police and that staff members at the affected voting station had been removed from their duties.

“A case has been opened with the SAPS and our staff have been relieved of their duty for their dereliction at that voting station.”

The incident comes as South Africans head to the polls to elect their municipal representatives in the 2026 local government elections.

There are 5,028 voting stations in KZN where 6,022,350 people registered to vote

Meanwhile, logistical problems delayed the opening of 50 voting stations in Ndwedwe on Wednesday.

Another three stations in Umzumbe experienced delays because roads were inaccessible but were assisted by the police and the army to open the stations.

There are 5,028 voting stations in KZN where 6,022,350 people registered to vote.

By the close of special voting on Tuesday, 234,297 of the province’s 362,878 approved special voters had cast their ballots, a turnout the IEC put at 65%. That included 110,767 votes cast through home visits and 123,530 at voting stations.

The commission says the special votes have been securely stored and will be counted with election-day ballots after voting closes.

Voting stations are scheduled to close at 9pm on Wednesday.

TimesLIVE

Story audio is generated using AI

More than 3.5-million South Africans had cast their ballots by 10am on Wednesday as voting got under way across the country for the 2026 local government elections.

Voting opened at 7am and is expected to close at 9pm with the Electoral Commission of South Africa (IEC) reporting that 98% of the country’s 23,996 voting stations had opened by the regulated time.

Speaking during a media briefing on the state of readiness for election day, IEC deputy chief electoral officer Masego Sheburi said a few voting stations experienced delays due to localised protests and access challenges caused by inclement weather.

“A few voting stations opened by 9 due to localised protests and access challenges due to inclement weather. Those were in the Eastern Cape, KwaZulu-Natal and one in Mpumalanga province. We confirm that by 9 o’clock all stations were operating,” he said.

Sheburi said the commission had introduced additional measures to improve the efficiency of the voting process and manage queues.

“As an efficiency measure, the commission has added the use of hand-held barcode scanners attached to the voter management devices. These have assisted in the increased speed in which we process voters and therefore manage queues at voting stations.”

The commission is particularly encouraged by those voters who make their way to stations early in the morning to avoid the last-hour rushes in the afternoon

Masego Sheburi, IEC deputy chief electoral officer

He said the voter management devices continued to play a central role in the electoral process, with preliminary figures indicating that 3.5-million people had voted by 10am.

“The voter management device is proving to be the mainstay of both the registration process as well as an election. To illustrate its performance, by 10 o’clock, preliminary indications are that 3.5-million voters had already voted.

Gauteng recorded the highest number of voters in the timeframe. The provincial breakdown was as follows:

• Gauteng: 895,000;
• KwaZulu-Natal: 623,000;
• Western Cape: 461,000;
• Eastern Cape: 431,000;
• Limpopo: 366,000;
• Mpumalanga: 252,000;
• North West: 204,000;
• Free State: 195,000; and
• Northern Cape: 93,000.

Sheburi commended voters who had made their way to voting stations early, saying this helped avoid the afternoon rush.

“The commission is particularly encouraged by those voters who make their way to stations early in the morning to avoid the last-hour rushes in the afternoon.”

He urged registered voters who had not yet cast their ballots to use the remaining hours before voting stations close at 9pm.

“We urge all remaining registered voters to use the remaining hours of voting to cast their ballot and thereby exercise their democratic right and continue to influence affairs in their localities and in their municipalities.”

We urge voters to make an X mark when they do their voting on the designated box against a candidate or party of their choice. Only one mark against a party or candidate of choice. Once you’ve made such a mark, avoid making additional marks because that may render your ballot spoiled

Masego Sheburi

Sheburi also reminded voters that the number of ballot papers they receive depends on the type of municipality in which they are registered, unlike in national and provincial elections.

Voters in category B municipalities, which make up the majority of municipalities, will receive three ballot papers. These include:

• a grey ballot to elect a ward councillor, who may represent a political party or stand as an independent candidate;
• a green ballot to vote for a political party on the proportional representation (PR) list for the local municipality; and
• a yellow ballot to elect a political party representative to represent the area at the district municipality.

Voters in metropolitan municipalities will receive two ballot papers: one for the ward election, where they can vote for a party candidate or an independent candidate and another for the PR component of the election.

Sheburi cautioned voters to ensure they mark their ballots correctly to avoid having them declared spoilt.

“We urge voters to make an X mark when they do their voting on the designated box against a candidate or party of their choice. Only one mark against a party or candidate of choice. Once you’ve made such a mark, avoid making additional marks because that may render your ballot spoiled.”

Voting stations across the country will remain open until 9pm, after which the counting process will begin.

TimesLIVE

From party leaders and senior officials to mayoral candidates, figures across parties were among those casting their ballots at voting stations nationwide. Their participation marks a significant moment in an election that will determine who governs South Africa’s municipalities for the next five years.

The election is being closely watched as parties compete for control of municipalities and metros, with service delivery, unemployment, infrastructure, water and electricity among the key issues facing voters.

TimesLIVE

Over just a few years municipalities have wasted at least R24bn of public money. For context, the foiled VAT increase, which the DA defeated as it would have broken the backs of the poor, amounted to an approximate figure. This while so many municipalities not only fail to do the bare minimum but are in active decline, unable to stop the chaos.

Municipal debt for water and electricity has ballooned in the past five years. While taps are dry, municipal debt to water boards has risen from R12.6bn to R25.5bn. As residents deal with “load reduction”, load-shedding’s successor, debt to Eskom has risen from R25bn to R111bn.

A firm line must be drawn before a point of no return is reached and respect for taxpayers no longer exists. If hard-earned taxpayer funds are no longer respected, the state’s contract with the public is in jeopardy.

How do we claw back lost public funds?

In 2019 the auditor-general was granted groundbreaking powers by parliament to issue certificates of debt to municipal managers, the individuals ultimately responsible for a municipality’s finances, when public money goes missing without accountability. The goal was to restore the balance of justice by deducting missing public funds from municipal managers’ personal bank accounts, hitting them where it hurts most.

Before arriving at this point the AG must follow a dedicated process that takes at least two years. After an audit is completed the municipal manager is notified of the irregularity (an example being a water project paid for but not completed) and given up to 20 working days to acknowledge the irregularity and say how it will be fixed. An investigation by the municipality usually follows to determine where things went wrong and who is responsible.

After 20 working days the AG studies the commitment made to fix the irregularity and holds the municipal manager accountable to it. The municipal manager is then given four to six months to implement the commitment, the period provided depending on the complexity of fixing the irregularity.

Progress is then assessed and written reasons must be provided for failures in implementation. If poor progress cannot be justified the first legal step begins — remedial action. Should the irregularity not be fixed after this step, notice for a certificate of debt follows after about a year.

After notice is given a further few months are provided to allow the municipal manager to respond. The certificate of debt follows after this process, and the municipal manager can challenge the matter in court.

The public are generally unaware of this power several years into its implementation, partly because it has been exercised only twice as a matter of last resort. Yet corruption in local government remains at crisis level. It is time for this measure to be implemented en masse, as only then will the right message resonate — abuse public funds and you will be personally liable to pay it back.

Case study

In November last year the suspended municipal manager of Ngaka Modiri Molema district municipality in the North West became the first official to be issued with a certificate of debt, to the tune of R4.6m excluding interest, after a fraudulent water tanker contract.

Despite a water crisis that has been acknowledged by the South African Human Rights Commission, officials in the municipality proceeded to steal from the most vulnerable. In 2018, while residents suffered, the municipality made payments for the delivery of water tankers, even though this did not occur.

The AG alerted the municipal manager as soon as the corruption came to light. Despite this, the contract was not cancelled and was in fact extended by the municipality. A warning was issued in 2019 and again in 2020, with no change. In 2021 the municipal manager was finally placed on binding terms to do everything possible to recoup stolen funds. This still did not happen.

In November 2025 the manager was issued with a certificate of debt and must now personally foot the bill. He has also been suspended for misconduct. The longer he tries to fight justice, the more the interest mounts on the nearly R5m owed. Funds collected will be returned to the municipality as justice to residents for the services they were meant to receive.

This is the kind of accountability our country needs, where funds stolen from the public are recouped in kind from those responsible. Certificates of debt do not replace criminal proceedings. Crooked officials must be successfully prosecuted and face financial liability. These processes, working in tandem, can show the power of an effective state exercising its might against wrongdoing. This matters, as our criminal justice system has a long way to go before effective reform and South Africans increasingly believe the rule of law no longer applies.

After the Ngaka Modiri Molema case the municipal manager of Mohokare local municipality in the Free State is next in line to face the music, to the tune of R3m. This certificate of debt in this case arises from work on a new pipeline to bring water to residents, which also simply did not occur. By last month, the AG was considering whether there were any reasons the manager should not be held personally liable for the R3m.

This certificate of debt in this case arises from work on a new pipeline to bring water to residents, which also simply did not occur.

Next on the list are likely to be the municipal managers of Mangaung in the Free State, as well as the Renosterberg and Siyathemba local municipalities in the Northern Cape. But many more certificates of debt must come for those who flagrantly dismiss our laws, disregard their duties and betray ratepayers.

Effective accountability in the form of certificates of debt can be achieved with a relatively modest budget of R6bn. Each cent is worth the investment considering the work of evaluating and holding to account 257 municipalities annually, as well as provincial and national government departments and state-owned entities. The cost of failed finances far outweighs the cost of implementing this measure.

The next step must be certificates of debt being issued against national and provincial government officials. Billions of rands of hard-earned taxpayer funds have been wasted, funds that could have been used for education, policing or infrastructure. Money stolen is freedom taken from the most vulnerable.

The co-operative governance & traditional affairs ministry must follow a similar process to the AG by pursuing financial and criminal consequences for those who steal or waste public money. The DA is determined to build corruption-free and professional government.

The fight against corruption must be mounted from new frontiers and explored through innovative means. Taxpayers and the rule of law are worth every battle.

• Michalakis is DA parliamentary leader.

San Francisco — Advanced Micro Devices’ (AMD) strategy of offering stakes in its future success to major AI customers OpenAI and Meta Platforms in exchange for big chip commitments is beginning to leave a sizeable imprint on its profits.

AMD in February agreed to sell up to $60bn worth of AI chips to Meta over five years, giving the Facebook owner warrants that could let it buy as much as 10% of the chip firm if it meets certain milestones. The deal followed a similar agreement with OpenAI last year, giving the start-up the option to buy up to about 10% of the chipmaker.

On Tuesday, AMD said it recorded a $1.07bn non-cash charge, or 66c a share, in the third quarter ended September 26 to account for these warrants, as shipments under the agreements begin to ramp up.

The chipmaker ​forecast faster-than-expected 2027 growth thanks to surging data centre sales, sending its ‌shares up 8% in extended trading and pushing up stocks of Intel, Nvidia and Broadcom.

Equity incentives

The warrants are part of a growing use of equity incentives by chip and AI cloud companies to secure massive, long-term purchases from a small group of AI customers and highlight the circular nature of the AI boom, where companies can simultaneously be customers, suppliers and investors in one another.

The strategy also risks diluting AMD shareholders. OpenAI and Meta could own a large stake in the chipmaker for as little as a penny apiece if the warrants fully vest and are exercised, potentially increasing AMD’s share count substantially. The warrants’ ultimate value depends on AMD’s share price when they are exercised.

OpenAI’s warrant also includes AMD share-price thresholds, while Meta’s does not.

Analysts said it was a major vote of confidence in AMD’s AI chips and software but is unlikely to dent Nvidia’s dominance, as the market leader continues to sell every AI chip it can make.

“While I do believe incentives played a role in some of their sales, I believe the bigger issue is that there is pent-up demand for a serious alternative to Nvidia, and AMD’s products are now starting to compete on price-performance metrics,” TECHnalysis Research chief analyst Bob O’Donnell said.

AMD has also struck a chip-purchase arrangement with OpenAI rival Anthropic, but that agreement included a commitment by AMD to invest in Anthropic.

AMD finance chief Jean Hu said on Tuesday’s analyst call that the warrants would begin diluting AMD shareholders once OpenAI and Meta satisfy the vesting and exercise conditions, which include shipment and other commercial requirements. AMD expects to provide more guidance in 2027 on when those conditions could be met, she said.

Other AI chip and infrastructure companies have struck similar equity-linked deals with major customers. Chip start-up Cerebras granted OpenAI warrants against a $20bn commitment, while Marvell Technology has issued Alphabet’s Google warrants that give the ‌search giant the right to buy a potential $12.2bn stake.

Qualcomm gave Amazon ‌warrants in a $60bn deal for its AI data centre chips.

Reuters

A November of intense international rugby will not only deliver the first winners of the new Nations Championship but also lay down some markers with less than a year before the Rugby World Cup kicks off.

The battle between the Six Nations teams and those of the southern hemisphere resumes with three weekends of Tests across Europe, followed by a fourth weekend of finals matches at Twickenham from November 27 to 29, where the inaugural Nations Championship victor will be crowned.

The 12 participating countries are split into north and south sections and play six matches — three already in July and three more this month — facing only those in the opposite pool.

After the opening three rounds, South Africa are narrowly ahead of arch-rivals New Zealand in the southern zone, while France top the northern section.

All 12 will play on the finals weekend, with each team matched against its equivalently ranked team in the other pool to decide their final placing.

The northern section is tightly contested, with France one point ahead of Scotland and two ahead of England and Ireland. Each side had two wins and a defeat in July.

Ireland have a chance to move up the standings when they host Argentina on Friday, but by the end of the weekend France are expected to retain their narrow advantage, as they start their fixtures with a clash against Fiji in Lyon on Saturday.

It will be much tougher for Scotland, who host the All Blacks, unbeaten in the previous 33 meetings between the two countries, on Saturday at Murrayfield. New Zealand were in rampant form last month in the Bledisloe Cup against Australia and under new head coach Dave Rennie looked to be returning to their menacing best.

Australia made a positive start when new coach Les Kiss took over after the first set of Nations Championship games, but those successive losses to the Kiwis will have been a blow to confidence, and the clash against England at Twickenham on Sunday is important in their bid to show they can be contenders when they host next year’s World Cup.

England also need to show some form after a disappointing Six Nations where they lost four of five games.

“These fixtures represent our final opportunity to face southern hemisphere opposition before next year’s World Cup,” said coach Steve Borthwick. “Facing Australia is an exciting challenge. They have played a significant amount of test rugby in recent months, and we know the quality and experience they will bring.”

South Africa’s opening game is in Turin against Italy on Saturday, where coach Rassie Erasmus is warning: “Italy may be ranked 11th in the world, but they are a quality team who have tested us to the limit at times.”

Next year’s Rugby World Cup in Australia is from October 1 to November 13.

Story audio is generated using AI

For a month, Pamela Bheshula, 64, says she has been without water because of a leak in her yard.

She arrived at Sivuyiseni Primary School, a voting station in Mandela Park, Khayelitsha, accompanied by two friends.

“Even though I have not received assistance with my water problem, it is important that I come out to vote today,” Bheshula said.

“My complaints have fallen on deaf ears. We live in an area that is neglected when it comes to service delivery. It takes the City of Cape Town a long time to attend to blocked drains in this area. I hope the next leadership will put residents first,” she said.

For Luthando Gwampi, 35, the elections marked a first. He had never voted before, saying he previously saw little reason to participate because he had not witnessed any change in his community.

“I decided that keeping quiet will not help because my X [vote] matters. We have a number of unemployed young people sitting at home doing nothing, which is why you see a low turnout among the youth. We need change and improved service delivery in our areas,” he said.

Several voting stations experienced a slow turnout, with the number of elderly voters making their way to polling stations standing out. Some walked slowly with the assistance of walking frames, while others were accompanied by relatives.

Thembisa Mtima, 66, who also lives in Mandela Park, said she was worried about the ongoing shootings in her community.

“We are tired of feeling like prisoners in our own homes. Even when you hear a familiar voice calling for help, you are afraid to go outside because you might end up being shot.

“They must do something about the shootings in our area,” she said.

TimesLIVE

Here is a selection of the reactions.

Spanish Prime Minister Pedro Sanchez

On X he said: “Yesterday, the American people voted against policies that only serve to impoverish people. Against hatred. Against sexism. Against climate denial and against the privileges of the elites.

“It happened in Brazil. It has just happened in the US. And it will happen soon in Spain.”

Norway’s Prime Minister Jonas Gahr

“This is a powerful political signal about a change of course among American voters.

“Voices are now emerging in American politics that are closer to us than the president and the administration have stood for, for example on climate and environment, and in foreign policy and development aid policy.”

Taiwan’s foreign ministry

“The ministry of foreign affairs continues to closely monitor developments in the US midterm elections. Our country’s policy toward the US has always been guided by the principles of non-partisanship, building broad-based goodwill and active engagement, and has long enjoyed the consistent support of parties in the US Congress and the executive branch. Building on this foundation, the ministry of foreign affairs will continue to deepen comprehensive co-operation with the US across various fields, including security, trade, technology and education, to ensure the US Congress and local governments continue to prioritise and support US-Taiwan relations and issues of mutual concern.”

SA President Cyril Ramaphosa

He told reporters the results will “introduce a new era in world relations”.

“We have seen the Democrats have taken control of the Senate and of the House, and the people of America have spoken.”

European parliament

On X the European parliament’s vice-president Christel Schaldemose said: “Not because everything now changes for the better, but because it could benefit the support for Ukraine, the green transition, and relations with the rest of the world.”

“But the EU must continue the course of standing stronger and standing on its own two feet. That’s not up for debate.”

Greek government spokesperson

Pavlos Marinakis told local Skai Television: “Greek-American relations will remain strong. The US is our strategic ally, and this will continue for major projects and all major agreements. Nothing will be affected by this outcome. It is obvious we respect every outcome; the conclusions are clear.

“Beyond that, what I can tell you is that it appears that on the key committees there will be individuals with whom the Greek government has very good relations, and that is important for the country.”

Russian deputy foreign minister

Sergei Ryabkov, quoted by Russian state news agency Ria, said: “Let’s wait for the final results. The Democratic Party leadership’s approach to relations with Russia is sharply negative. There is nothing new about that.

“Our principled and consistent line regarding Ukraine, and our foreign policy in general, is not based on short-term considerations and, naturally, does not depend on the fluctuations of the political barometer in other countries. We will continue our work in accordance with the directives of the president of the Russian Federation.”

Japan’s chief cabinet secretary

At a regular press briefing Minoru Kihara said: “Regardless of the outcome of this election, the Japan-US alliance is the cornerstone of Japan’s foreign and security policy.

“As the international situation becomes turbulent and increasingly uncertain, a strong Japan-US alliance is essential for maximising Japan’s national interests and for peace and stability in the international community.”

French finance minister

Roland Lescure told French TV channel BFM: “Either he [US President Donald Trump] decides to rise above the fray — acknowledging changes are necessary, particularly regarding gasoline prices, which directly affect people — and, I might add, he tones down his international involvement; or he does not.

“Frankly, this is something we will need to keep an eye on in the coming days.”

Co-leader of German far-right party AFD

On Germany’s online news outlet T-Online, Alice Weidel was quoted as saying: “Trump had promised his voters not to pursue an interventionist foreign policy. This broken promise has now come back to haunt the Republicans.”

Czech Prime Minister Andrej Babis

“I think the outcome was as expected, though of course the Democrats’ victory is huge. Even the Republican stronghold of Texas fell, and in some places Democrats gained positions after decades.

“In my view, this means that until the end of President Trump’s term, it will be all about impeachment and vetoes, and a certain kind of paralysis. On the other hand, President Trump will almost certainly continue to do exactly as he pleases.

Let’s hope he finally returns to his promise to end the war in Ukraine and resolve the conflict in the Strait of Hormuz."

Iran’s parliament speaker

On X Mohammad Baqer said: “Americans said no to war, and we endorse this message. If the US government betrays their public will to serve international pay masters and blackmailers, it will learn our no comes with a nightmare.”

Elon Musk on X

“Guess my election-interfering space lasers didn’t work this time.”

Belgian defence minister

Theo Francken said on X: “Governing in the US will be almost impossible in the coming years given the level of internal division and polarisation. As a European politician I will mainly look of course to trade policies, support to Ukraine and Nato.”

Bernd Lange

The European parliament member and head of the parliament’s international trade committee said: “Crushing blow to Trump and his policies. Major victory for American democracy. Voters have spoken: Trump only cares about Trump. Now he’s paying the price for it. No amount of shouting ‘fake news’ can change these facts.

“But what happens next? Will Republicans continue to stand behind Trump? Let’s not be naive. He has spent past years largely governing around Congress.

“Weakened Trump could become more aggressive and unpredictable. A lame duck could quickly turn into an angry duck. For the EU, this is an opportunity and warning. More democratic influence could bring greater predictability and dialogue. But US protectionism won’t disappear. The EU cannot live at Trump’s mercy. Transatlantic partnership matters but EU must be able to act independently and defend its interests.”

Jordan Bardella

The president of the French far-right opposition party National Rally said: “I am not American, and I am not a voter in the US. Consequently, one must respect the verdict of the ballot box, including the results of these midterm elections, which, incidentally, are almost always unfavourable to the incumbent president.

“What is certain is that Donald Trump’s second term differs quite significantly, in its philosophy and foreign policy, from his first, during which his political ambition was to withdraw the United States from major global conflicts. As it happens, American intervention regarding Iran carries very heavy consequences, not only for the US economy, in my view, but also for the European economy, particularly concerning the purchasing power of our own citizens, given the rise in oil prices. So, yes, there is most certainly a link.”

Ines Schwerdtner

The joint leader of Germany’s Left Party said: “This is a crashing defeat for the global right.”

Reuters

Story audio is generated using AI

Limpopo premier Phophi Ramathuba says the government does not have to wait for elections to be over before addressing challenges affecting communities, pointing to interventions in several municipalities across the province.

Speaking to Sowetan after casting her ballot on Wednesday morning at Mokopane Primary School in the Mogalakwena local municipality, Ramathuba acknowledged that residents continued to face challenges, including unemployment, water shortages and poor roads.

However, she urged them not to allow these difficulties to discourage them from voting. She also highlighted the provincial government’s interventions in municipalities struggling with service delivery challenges.

“We don’t need to wait to be elected to intervene. Just go and check our track record. You will see the interventions we have made since we came from the ANC Provincial Conference,” she said.

Ramathuba cited interventions in the Waterberg district, Lephalale, Vhembe, Greater Giyani, Tzaneen and Polokwane, particularly around water provision, sanitation and road infrastructure.

Limpopo is one of the provinces that have battled with a myraid of service delivery challenges for years as well as municipalities that heavily depend on consultants to balance their books.

There were those we did not find at their homes. There were also those who did not want to vote because their family members had applied for them [and] they were not aware they had applied for them

Nkaro Mateta, IEC provincial electoral officer

Ramathuba said the provincial government had established the premier’s war room to address persistent water challenges in Polokwane, adding that boreholes had been rehabilitated and road infrastructure improved.

Before going to vote, Ramathuba had earlier observed the electoral process at Mitchell House voting station, where she was received by the Electoral Commission of South Africa (IEC) provincial electoral officer Nkaro Mateta.

Mateta expressed satisfaction with the progress of the electoral process in the province, saying the IEC had successfully conducted 75% of its planned special-vote home visits by the time the special voting period closed.

However, Mateta raised concerns about some challenges experienced during the special voting process, including instances where voters were not aware that family members had applied for special votes on their behalf.

“There were those we did not find at their homes. There were also those who did not want to vote because their family members had applied for them [and] they were not aware that they had applied for them. Such issues waste the resources of the commission and create problems,” she said.

Earlier, Sowetan spoke to residents in Mokopane town ahead of the premier’s arrival at the voting station. One of them, Ronald Ledwaba, said he was in town to do some shopping before heading to his voting station.

Ledwaba acknowledged that residents continued to experience service delivery challenges, including unemployment, but expressed hope that the elections would bring positive changes to their lives.

Sowetan

Special voting took place on Monday and Tuesday, with the IEC saying more than 1.4-million voters had cast their ballots.

Stream courtesy of SABC.

TimesLIVE

Water shortages, electricity failures, crime, unemployment and poor municipal services are central election issues.

The election could reshape local political alliances and influence the country’s political direction ahead of the 2029 national elections.

TimesLIVE

Relations between South Africa and the US are at a low point.

This week Trump’s administration moved to end South Africa’s duty-free access to the US market after last year cutting financial aid and expelling its previous ambassador to Washington.

Trump has targeted the country largely due to what he said is its persecution of white people, which South Africa says is a false narrative spread by fringe groups.

“We have seen that the Democrats have taken control of the Senate and of the House, and the people of America have spoken. I do think that this is going to introduce a new era in world relations,” Ramaphosa told reporters after casting his vote in South Africa’s municipal elections.

Ramaphosa said Monday’s announcement that South Africa would be suspended from Washington’s African Growth and Opportunity Act trade initiative from January “is indeed a negative for us” and that the focus should be on negotiating a bilateral trade agreement with the US.

“While we are sad that we’ve been removed from Agoa, our trade relations with the US continue,” he said.

Ramaphosa said South Africa had been working to secure new export markets and “diversification has now become the order of the day”.

Reuters

The size and breadth of the Democratic wave were still coming into focus, but in gubernatorial races in Texas and Georgia, Democrats who campaigned in part on a moratorium on data centre development won offices the party had not held for decades.

Their victories hand political heft to the backlash against the projects, which are at the heart of the AI boom but are loud, thirsty for water, hungry for electricity and increasingly unpopular with their neighbours, investors said.

Investors said the results are likely to usher in tougher regulation and could ripple across financial markets where AI stocks were falling on Wednesday. Big bets have already started to wobble due to concerns about spending and overcapacity.

“In our view, the significance of these midterm elections is more like a referendum on AI than a referendum on [US President Donald] Trump,” said Aidan Yao, a senior investment strategist at the Amundi Investment Institute, the research arm of Europe’s largest asset manager.

“If the AI theme is subject to some restrictions, then the US economy, US inflation and US monetary policy all become very, very uncertain.”

Texas sweep

The most stunning ballot box repudiation was in Texas, which GLJ Research has estimated accounts for about a quarter of US data centre capacity that is due to come online by 2030.

Democrat Gina Hinojosa ousted Greg Abbott as governor in an upset that ended three decades of Republican hold on the office, while fellow party member James Talarico became the senator-elect.

A conservative, oil-rich state, Texas has worked for years to reinvent itself as a tech hub, attracting companies such as SpaceX and entrepreneurs including Elon Musk, who donated more than $150m to the Republican campaign.

However, even Republicans turned against data centres, which opponents said drive up utility bills, pollute the night sky with lights and do not create sufficient jobs or taxes to justify the incentives states pay.

“Data centres in space looking pretty appealing right now,” Musk said on social media after the election.

“Guess my election-interfering space lasers didn’t work this time.”

In Georgia, where commercial real estate services and investment firm CBRE said Atlanta is the most active data centre construction market in the country, Democrat Keisha Lance Bottoms won the gubernatorial contest, ending more than two decades of Republican control.

The AI trade

AI has been a dominant theme in financial markets this year, driving stocks higher due to bets on chip demand while pushing up bond yields as the data centre construction boom boosts economic growth.

Chip and AI firms including TSMC, Samsung Electronics, SK Hynix and Kioxia fell in Asia, along with bond yields, on Wednesday.

“The Democrats will likely push for greater regulation,” said Nick Ferres, chief investment officer at Vantage Point Asset Management, a fund manager in Singapore.

“The two key risks have been the return on investment and the financing of the boom. Both have likely become more challenging.”

Many analysts said a slowdown in the building of data centres in the US did not necessarily herald a change in demand for AI or computing power, and some view an about 8% drawdown in the Nasdaq over the past month as an opportunity to buy.

Ilan Benhamou on JP Morgan’s equity sales desk in New York called the Texas race “the only thing that matters” in a pre-election note to clients, and investors are taking it as a wake-up call.

“Companies do have to have the social licence to operate, and I think the current AI providers really have a PR crisis on their hands,” Katie Koch, CEO of asset manager TCW, said at a Hong Kong financial summit.

“They need to define what the social utility is going to be of AI and data centres to Americans, and so far they’ve been failing to do that.”

Reuters

Electoral Commission (IEC) rules require people to vote at the station where they are registered. In local elections, that means the ward in which they live. Ramaphosa lives in Ward 90, which includes Hyde Park, Parkmore, Illovo, Sandhurst and several other suburbs. Former presidents Thabo Mbeki and Kgalema Motlanthe also live in the area.

The ward is not friendly ground for the governing ANC. The DA won a recent special election there with 97% of the vote, up from 64% the last time the seat was contested. The president therefore voted in a ward where his party has little support.

President Ramaphosa has voted Hyde Park this morning where he resides https://t.co/64EBKSB4kZ

— Thando Maeko (@HelloThando) November 4, 2026

“The change in the IEC rules where they said you must vote where you live … so I did abide by those rules … There is always a tussle on where I should vote either in Hyde Park or in Soweto where I grew up and buried my parents,” he said shortly following the vote.

Before the poll, Ramaphosa urged registered voters to take part. He said their votes could help build better communities and strengthen local government. He pointed to the services municipalities provide, including water, sanitation and electricity. Complaints about those services, along with disputed billing, have dominated local politics in Johannesburg and other big cities.

Parties held their final rallies over the weekend, appealing to loyal supporters and undecided voters. The ANC held a rally in the Eastern Cape on Sunday. It faces the DA, the EFF and the MK Party, led by former president Jacob Zuma.

The ANC has been losing ground for a decade. In the 2021 local elections, it fell below 50% nationally for the first time since the end of apartheid. In the 2024 general election, it lost its parliamentary majority and entered a government of national unity that includes the DA. Several large metros, Johannesburg among them, have been run by coalitions for years, and those arrangements have often been unstable.

Wednesday’s vote is the first nationwide test of voter sentiment since that 2024 result. A weak showing for the ANC in the major metros would add pressure on the party as it manages a national-level coalition. A stronger result would ease some of that pressure.

Business Day

Story audio is generated using AI

Helen Zille said should she be elected mayor of Johannesburg, her immediate priority would be addressing the water challenges confronting South Africa’s economic and financial heartland.

She said Joburg was a great city worth fighting for, adding that should she be voted in as the next mayor during the municipal elections on Wednesday, she would “mobilise resources” on an emergency basis to address the water crisis in the short term.

Water challenges left parts of the city without supplies due to increased demands as a result of the hot weather. In May persistent water challenges in the Joburg metro and other municipalities spurred President Cyril Ramaphosa to establish the national water crisis committee to co-ordinate government efforts in addressing water scarcity.

Ramaphosa said at the time the government had prioritised measures to address the water crisis affecting many municipalities across the country.

I have run a city before, I know this

DA Johannesburg mayoral candidate Helen Zille

Zille, former mayor of Cape Town, cast her vote at Emmarentia Primary School in Randburg on Wednesday. She arrived at 9.30am and was mobbed by journalists and well-wishers, including former DA Joburg mayor Mpho Phalatse.

“I have run a city before; I know this,” Zille said when asked about her experience in the local government sector. She was optimistic the DA could “push over 50%” in electoral outcomes in the Joburg metro.

“We hope to get the basic services working. We don’t promise miracles above that because the job of local government is to get basic services working, and not to make everybody millionaires. Our job is to deliver water, electricity, possible roads, all those things. That is our job and we will do the job,” Zille said.

“In the end, it’s over to voters. The voters must decide whether they want to rescue their city or not.”

In January the ANC declared 2026 a year of decisive action to fix local government and transform the economy, with the government of national unity (GNU) having set aside R54bn for service delivery, especially for fixing water and electricity infrastructure across the eight metros.

The beleaguered local government sector is dogged by malfeasance and fiscal challenges in which billions have been wasted on fruitless, wasteful and unauthorised expenditure annually, affecting the delivery of basic services such as potable water, electricity, clinics and refuse collection.

Local government’s worsening state has spurred the government to focus the second phase of Operation Vulindlela on fixing councils. Vulindlela is a joint initiative of the National Treasury and Presidency created in 2020.

Business Day

As speaker, Jeffries, representing a New York City congressional district, would preside over a majority that will be sworn in in the first week of January, taking the reins from Republicans who controlled the House for the past four years.

“Today begins the great American comeback,” Jeffries proclaimed in a victory speech late on Tuesday after media outlets projected the likelihood of Democratic majorities in the House and Senate.

He attacked the Trump-led Republican agenda in Congress over the past two years, pledging to pass legislation reversing steep spending cuts — enacted into law on July 4 2025 — to the Medicaid healthcare programme for the poor and people with disabilities.

“The US people have spoken and made clear that they’ve had enough of the extremism, enough of the corruption. They want a Congress that’s going to deliver for the US people,” Jeffries said.

Jeffries has long said that, while his caucus would focus on helping the poor and middle class cope with the high cost of living, Democrats would also investigate the Trump administration’s dealings with corporate executives, including those who have donated heavily to his various campaigns and projects. He has stopped short of saying the House, under his leadership, would attempt to impeach Trump for a third time.

Democratic Representative Robert Garcia of California, who is expected to become chair of the house committee on oversight, had two words of advice: “Lawyer up,” he said in an election-night statement.

With votes still being counted across much of the country after Tuesday’s elections, the size of the Democratic majority in the House for the next two years was unclear.

The House speaker acts as the boss of the often boisterous 435-member chamber, deciding what legislation advances to a vote or dies on the vine. The House speaker is second in line for the presidency, after Vice-President JD Vance.

Later this month, the newly elected House Democrats will gather behind closed doors to anoint their candidate to run in the January election for speaker. Nobody is seen posing a serious threat to Jeffries, according to multiple Democratic aides.

Weeks later, with the start of a new Congress, the full House will vote to select the 57th speaker since 1789, with Republicans putting up their own candidate who will be all but certain to fail.

But Jeffries still has some work to do in nailing down the support of several far-left progressives, such as fellow New Yorker and representative-elect Darializa Avila Chevalier.

In a September 30 interview with Vanity Fair, Avila Chevalier would not commit to voting for Jeffries.

Instead, she gave a list of policies she said the next speaker must support: voting rights reforms, public housing investments, blocking offensive weapons to Israel and universal healthcare.

However, pro-Israel groups are among Jeffries’ biggest campaign contributors, and he has been cool toward proposals for a “Medicare for All” healthcare programme, which many moderate Democrats fear will be too costly.

“The question is what he has to give them to get them on board,” said Michele Swers, a Georgetown University professor of American government.

Tacking too far to the left, however, could cause a revolt among Democratic moderates.

Affordability above all else

Jeffries, 56, is known as a consensus-builder within his caucus, in contrast to the top-down style of former speaker Nancy Pelosi. Yet he knows how to throw punches, particularly to rally the troops.

“In the majority, one of the first things we’re going to do is run Pete Hegseth out of town,” Jeffries said at a political rally just three days before Tuesday’s midterms.

But Jeffries’ mantra has been that Democrats will attack the “affordability crisis”, which voters repeatedly cite as their top concern.

“The US is too expensive” has been his refrain in public appearances.

A senior House Democratic aide said there is a series of bills he could lead off with that would be likely to unite Democrats: an expanded child tax credit that Trump and Republicans in Congress let expire, a housing tax credit to make home buying more affordable, ending the war in Iran, bringing back subsidies for clean energy, and renewing some “Obamacare” healthcare subsidies.

That would be low-hanging fruit, some of which Trump could veto. Jeffries’ tougher challenge will be to reach across the aisle to pass critical legislation. That would include raising the debt limit for US borrowing, to avoid a government default, and approving federal spending to avoid a government shutdown.

Jeffries will also spearhead other Democratic priorities such as protecting social security, undoing $900bn (R14.8-trillion) in Republican cuts to Medicaid and revamping immigration laws.

Kate deGruyter, a spokesperson at Third Way, a moderate Democratic consultancy, said he should resist calls from progressives to impeach the president.

“I don’t think having a huge impeachment fight over the president is going to be helpful,” she said.

Newly elected progressives are “likely to come to Washington expecting to be able to change the universe starting on day one,” said David Miller, professor of government at American University. Jeffries’ challenge will be to temper those expectations “given that Democrats don’t control the White House”.

Reuters

This is according to ANC regional chair and mayoral candidate Loyiso Masuku, who said that her political party wanted Johannesburg residents to give them a clear majority.

Masuku, who is also the city’s deputy mayor, said that coalitions delay service delivery as the different political parties always have to negotiate on everything, including budgets.

Different polls place the ANC in Johannesburg at anything between 28% and 35% with the DA slightly behind, placing them between 26% and 32%. If these polling data are anything to go by, then Johannesburg will need a coalition government.

Speaking to the media after casting her vote at the Mulbarton Primary School in Johannesburg South, Masuku said residents are able to easily hold parties accountable if they give them enough votes to govern.

The City of Johannesburg cannot afford a coalition. However, in an event where there is a coalition, the ANC is very clear. We will talk to everyone the way the national coalition was done

Loyiso Masuku, ANC regional chair and mayoral candidate

“We are not working for a coalition, we are not going to work for a coalition, we are working to govern,” said Masuku.

“Why is this important? Because a sole mandate gives you an ability to say in five years’ time, ‘I’m going to question you on the basis of the commitments that you made. You said these are your six action areas, I gave you a sole mandate’. But if you split the vote and you are uncertain, you then fracture the vote and then you get all these other small parties wanting to be in a coalition.”

Masuku said the revolving mayoral door that has become synonymous with the Johannesburg metro is a result of coalitions, which she said the city could no longer afford.

“Coalitions delay service delivery because there must be negotiations, bartering, processes in council are delayed, budgets take long, you can go to a council meeting three times and the budget is not passed. And then there are motions of no confidence on mayors,” she said.

“The City of Johannesburg cannot afford a coalition. However, in an event where there is a coalition, the ANC is very clear. We will talk to everyone the way the national coalition was done.”

The ANC, Masuku said, was willing to negotiate with all political parties “as long as the value system and the programme of action are about the people of Johannesburg”.

Another non-negotiable according to Masuku is that the terms of whatever coalition agreement that the political parties in the Johannesburg council end up reaching must be made publicly available

“If the programme of action we’re speaking about is about basic services, is about financial sustainability, is about governance, is about a cleaner and safer city, is about ethical conduct and a capable state that is going to deliver services, of course you will fall within our realm as the ANC to be able to sit at a table and be able to agree.”

Another non-negotiable according to Masuku is that the terms of whatever coalition agreement that the political parties in the Johannesburg council end up reaching must be made publicly available.

“Once we’ve agreed, our coalition agreement has to be made public. Residents must know why you are in a coalition with a particular party. This is a basic principle and that is why we, as the ANC, subscribe and support the coalition bill because it speaks about regulating coalitions.

“So we publicise the agreement so that when a resident or a voter voted for a party then they know when these parties are working together — what it means for them as a voter because they didn’t vote for three or four different parties.

“So we are ready in that event, but we are working for an outright win to make sure that Johannesburg reverses the work that was stopped in 2016 by the then-DA coalition at that time under Herman Mashaba. This is a renewed ANC, an ANC that is committed to building better communities, an ANC for all. We don’t choose and we don’t speak about certain segments of society.”

TimesLIVE

The pill, launched in the US in January, brought in 5.39-billion Danish crowns (about $810m or R13.46bn). That was up 53% on the second quarter and above the 4.62-billion consensus. The US accounted for 4.18-billion crowns, and international markets 1.22-billion. Novo said US prescriptions hit about 3.6-million in the quarter and more than 8-million since launch.

Novo also raised its 2026 adjusted sales and adjusted operating profit forecast to a range of between +2% and -2% at constant exchange rates, from a previous forecast of a 0% to 6% fall. It was the third time the company raised its full-year guidance.

The company said the improvement was driven by higher expectations for GLP-1 sales in both the US and international markets.

Lilly also raised its outlook last week after beating profit estimates on booming demand for its injectable weight-loss drugs.

Pill seen as growth driver

Novo’s pill makes up only about 6% of expected sales, but analysts see it as Novo’s main route back to growth, after a two-year slump of profit warnings and a leadership change. US sales of injectable Wegovy fell 13% at constant exchange rates, although combined US Wegovy sales rose 21%.

Novo, which at one point became Europe’s most valuable listed company on booming Wegovy sales, is also trying to narrow a gap to Lilly, whose rival Foundayo pill is winning a growing share of new prescriptions.

Adjusted operating profit was 31.72-billion Danish crowns, above the 28.39-billion projected by analysts and up 27% at constant exchange rates from a year earlier. Adjusted sales were 79.20-billion crowns against 73.22-billion expected.

“Growth was led by our obesity portfolio, with continued uptake of Wegovy pill in the US and encouraging early launches internationally,” CEO Mike Doustdar said in a statement.

Reuters

This is the view of automotive industry body Naamsa, which said the proposed termination of South Africa’s eligibility for the African Growth and Opportunity Act (Agoa) will add to uncertainty in the bilateral trade relationship but is unlikely to worsen the industry’s existing export challenges.

South African vehicle exports to the US fell from 24,682 units in 2024 to just 4,136 in 2025, after the introduction of 25% tariffs on imported vehicles under section 232 of the US Trade Expansion Act in April last year. Tariffs on automotive components followed in May.

The tariffs apply independently of Agoa eligibility and have substantially eroded the commercial value of the preferential access previously enjoyed by South African manufacturers.

Naamsa said the Agoa termination, effective from January 1 2027, would not close the US market to South African automotive products. Exports would remain possible, though subject to the applicable US tariff regime.

Mercedes-Benz South Africa is the car manufacturer most exposed to the effect of US tariffs, with almost all locally manufactured vehicle exports to the country comprising C-Class models built at its KuGompo City plant in the Eastern Cape.

Agoa has generated R28.6bn in export revenue for South Africa’s automotive industry, with 24,681 vehicles exported under the programme, according to Naamsa

Mercedes-Benz has confirmed that the newly facelifted C-Class will be manufactured locally, though the factory’s longer-term future remains uncertain amid US trade barriers and declining export volumes.

Other major exporters, including Ford and BMW, have reduced their exposure to the US market, focusing instead on Europe and other international destinations. BMW South Africa previously exported large volumes of X3s to the US from its Rosslyn plant, but exports of the new-generation model are now largely destined for markets elsewhere. Ford South Africa exported a small number of Rangers to the US in 2025.

Agoa has generated R28.6bn in export revenue for South Africa’s automotive industry, with 24,681 vehicles exported under the programme, according to Naamsa.

The industry body said the programme had helped strengthen trade and investment ties between the two countries over several decades, supporting manufacturing integration and the development of local supply chains.

The automotive industry remains a big contributor to the domestic economy. Vehicle and component exports reached a record R291bn in 2025, while the sector contributes 5.2% to GDP and sustains about 498,000 jobs across the formal economy.

Naamsa said manufacturers were exploring alternative export markets, including Canada, while South Africa could also leverage existing trade arrangements with the EU, UK and African markets.

However, it cautioned that diversification would take time and could not replace the value of established markets and long-standing investment partnerships.

“The US remains an important trading partner, and preserving commercially viable access is in the interests of both economies,” it said.

Naamsa said it would continue engaging with the department of trade, industry and competition and other stakeholders, providing economic analysis and industry evidence to support discussions aimed at securing a sustainable trade outcome.

Business Day

Voters in conservative bastions who had propelled the president to his second term in office just two years ago swung dramatically toward Democrats, fuelled by deep frustration over the unpopular war with Iran, anxiety over the high cost of living and anger at Trump’s stewardship of the country.

Kansas elected its first Democratic senator since the Great Depression nearly a century ago. In South Carolina, a state that Trump carried by nearly 18 points in 2024, Democrats turned aside his hand-picked Senate candidate.

And in Texas, the biggest Republican state, Democrats ended a decades-long losing streak in seismic fashion, winning a Senate seat and ousting three-term Governor Greg Abbott.

The results will usher in a new era of divided government in Washington, following two years in which the Republican-controlled Congress rarely exercised its power to rein in Trump.

Once seated in January, Democrats are expected to use their power to investigate Trump’s administration, family and allies and demand concessions on major legislation. The Democratic Senate can block Trump’s nominees, including any US Supreme Court justices should a vacancy arise.

The Democratic wave flooded huge swaths of the country. Republicans lost ground in all but a handful of about 1,700 counties where most votes had been counted on Tuesday night, according to tallies compiled by Reuters and USA Today

“There is now a generational remake of the Senate map that is going to change America,” said Chuck Schumer, the party’s Senate minority leader. “Americans voted for change, and now Democrats must deliver.”

Trump, who is barred by the US Constitution from seeking a third term, has exercised an iron grip on his party for most of the last decade. But the new balance of power in Washington may accelerate his lame-duck status, as attention turns toward the 2028 presidential race and potential successors begin competing for political influence in a post-Trump world.

Despite worries from Democrats that Trump might seek to overturn the election results, as he did in 2020, the president accepted the outcome, congratulating Democrats in an interview with Fox News. He also said he would work with Democrats on issues such as immigration, though he threatened to veto any “insane” bills they passed.

Democratic wave

Democrats focused their campaign on corruption and affordability, blaming Trump’s tariff policy and the war with Iran for driving up costs while highlighting the billions of dollars the Trump family has made since he returned to the White House.

Republicans, led by Trump, attacked Democrats over culture war issues such as transgender rights while portraying their opponents as radical and extreme. But in poll after poll, voters made it clear they were far more concerned with pocketbook issues.

The Democratic wave flooded huge swaths of the country. Republicans lost ground in all but a handful of about 1,700 counties where most votes had been counted on Tuesday night, according to tallies compiled by Reuters and USA Today.

Democrats made gains in the richest counties and the poorest; in counties where more people have college degrees and where fewer do. Democrats’ advances were particularly sharp in heavily Latino counties, including the border counties of Texas that shifted toward Trump in 2024 and the agricultural towns of the Kansas prairie.

In Seward County, Kansas, home to one of America’s biggest beef processing plants and where about half of eligible voters are Hispanic, Democrat Adam Hamilton led incumbent Republican senator Roger Marshall by 13 points, two years after Trump won the county by 39 points.

In sweeping and decisive victories, the American people have rebuked the depravity, corruption and incompetence of the man named President Donald J Trump

Jon Ossoff, Democratic senator in Georgia

Democrats ran the table in the House races thought to be especially competitive, winning all 20 of the contests decided so far. Meanwhile, an unprecedented Republican gambit to redraw several House districts to make them more favourable largely failed, with Democrats hanging on to most of the targeted seats.

Midterm elections are typically seen as a referendum on the sitting president, and Trump did little to disabuse voters of that notion. In the campaign’s final weeks, he held dozens of rallies, telling supporters repeatedly to “pretend I’m on the ballot.”

He also intervened in several races to ensure his preferred candidates reached the ballot, despite concerns from some Republicans that his choices carried significant liabilities.

In Texas, Trump backed Ken Paxton, the scandal-ridden state attorney general, over the incumbent, senator John Cornyn. In South Carolina, the president anointed Darline Graham, a political neophyte, after her brother, senator Lindsey Graham, died suddenly earlier this year. Both candidates lost.

But even candidates who sought to distance themselves from Trump were unable to escape voters’ wrath. In Maine, Republican incumbent Susan Collins had her 30-year Senate career end on Tuesday, despite emphasising her willingness to break with the president during the campaign.

Competitive Senate races in Mississippi, Michigan and Alaska had yet to be called early on Wednesday.

On Tuesday night, as it grew clear Republicans were in danger of losing their congressional majorities, Trump wrote on social media, “I wasn’t on the Ballot and if I was, we would have won IN A LANDSLIDE! Thank you for your attention to this matter.”

Voters rebuke Trump

According to exit polls conducted by SSRS on behalf of a consortium of US media outlets including major television networks and the Associated Press, half of voters nationwide said they saw the 2026 midterm elections as an opportunity to rebuke the president, and three-quarters said they are “angry” or “dissatisfied” with the way the country is headed.

In addition, 70% of voters surveyed said they want Congress to provide more checks and balances on the president.

“In sweeping and decisive victories, the American people have rebuked the depravity, corruption and incompetence of the man named President Donald J Trump,” incumbent Democratic senator Jon Ossoff of Georgia told supporters at a victory party.

The night included several historic firsts for both parties:

• In Georgia, Democrat Keisha Lance Bottoms became the first black woman elected governor of any US state;
• Byron Donalds won Florida’s gubernatorial race to become the first black Republican governor in the US;
• Democrat Gina Hinojosa will become the first Latina governor in Texas; and
• Democrat Xavier Becerra will be California’s first Latino governor.

Reuters

El-Sayed’s victory in the closely contested election marked a breakthrough for the Democratic Party’s progressive wing and denied Republicans a chance to flip the seat of retiring Democratic Senator Gary Peters.

El-Sayed, 42, a former public health official, focused on lowering costs for working families and reducing corporate influence in politics. His platform included Medicare for All, a government-funded universal healthcare programme championed by progressives in his party.

Republicans held a 53-47 Senate majority going into Tuesday’s midterm elections, with Democrats needing a net gain of four seats to take control.

His opponent Mike Rogers, 63, a former congressman and FBI agent, entered the race with strong backing from Trump and national Republicans and had sought to cast El-Sayed as a radical candidate sympathetic to Islamic extremism through alleged ties to the Muslim Brotherhood, claims that El-Sayed denies and that remain unsupported by evidence. Democrats said the attacks on El-Sayed relied on Islamophobic tropes.

Rogers also devoted significant effort to courting Jewish voters who may have been uneasy with El-Sayed’s opposition to US military aid for Israel and his characterisation of Israel’s actions in Gaza as genocide.

But Rogers struggled to overcome voter concerns about the economy and Trump’s low ratings. In the closing weeks of the race, he broke with the president on the war in Iran and the US trade dispute with Canada, arguing that ending both was necessary to help bring down costs for businesses and consumers.

Reuters

Story audio is generated using AI

Pensioners outnumbered younger voters at several polling stations in Hammanskraal, Tshwane, on Wednesday morning.

Many elderly residents went to voting stations very early to cast their ballots in the hope the next local government administration would address the area’s longstanding service delivery challenges.

At three voting stations Sowetan visited, elderly voters appeared to make up the bulk of those queuing to cast their ballots, with many saying they wanted better access to clean water, electricity, roads and safer communities.

Among them was 84-year-old Evelyn Mdlalose, who relied on a crutch to make her way to Boitshepo Secondary School to cast her vote.

Despite her age and mobility challenges, Mdlalose said she was determined to participate in the elections, hoping the government she voted for would deliver the basic services residents had been waiting for.

“We want clean water, we don’t have roads and we don’t have electricity. It is dark at night because there are no streetlights. I am hopeful the party I voted for will deliver,” she said.

Access to clean water remains a major concern in Hammanskraal, where more than 30 people died in May 2023 during a cholera outbreak linked to contaminated supply. The outbreak exposed longstanding concerns about the quality of water in parts of the area.

For 80-year-old Piet Kekana, the priority was tackling the crime that continues to worry residents.

“We want peace. We want the candidate to fight crime, which is severe in our area,” he said.

Linah Kwinaka, 81, told Sowetan she had cast her ballot for a candidate she believed could finally address the area’s water crisis.

Sowetan

A landmark piece of F1 history driven by the best driver of his generation, and perhaps of all time, the car is expected to fetch between $4m and $6m (R66m-R100m).

Offered for the first time publicly, the car was gifted by Williams to the Senna family following the team’s 1994 Formula One Constructors’ Championship victory in the year that Senna tragically lost his life in a crash at Imola.

As part of Senna’s contract he was to receive a chassis used during the season if Williams won the championship, and the team honoured the deal by presenting it to his family at the close of the season.

This chassis was tested extensively by the Brazilian three-time world champion and driven in morning warm-up at Interlagos in front of his home fans. The car was also driven by two other F1 world champions: Nigel Mansell and Damon Hill. Hill was Senna’s teammate at the start of the 1994 season and Mansell raced select F1 rounds when his IndyCar schedule allowed.

Today the car remains as one of only two surviving Williams grand prix cars that Senna had driven that year.

Chassis FW16B-01 remained untouched for the following 30 years, with the exception being the addition of Senna’s personal seat, and is in unrestored condition. Acquired by the current owner in 2024, having been purchased from the Senna family, it has remained preserved and unused since.

Powered by a 3.5l V10 engine, the Williams FW16B was designed by engineering genius Adrian Newey and Patrick Head.

Active suspension, traction control and ABS brakes used on the outgoing Williams FW15C were banned for 1994 when Senna joined the team from McLaren. He and teammate Hill were given the FW16, which lacked these electronic driver aids, and Williams’ early adoption of the technology meant they had more ground to make up than the competition when adapting the previous season’s FW15C for the new regulations.

Despite the challenges, Senna qualified on pole for the season opener in Brazil, but crashed out of the race while in second place.

Senna once again showed his class in qualifying by putting the Williams on pole at round 2 in Japan, but was again forced to retire after being hit from behind.

Senna’s final outing in the third round at San Marino marked his third consecutive pole position. Tragically, he would not finish the race and suffered a fatal crash at the Tamburello curve while leading.

Business Day

Brent futures rose 76 cents, or 0.7%, to $104.36 a barrel. US West Texas Intermediate crude futures gained 63 cents, or 0.7%, to $96.72, reversing earlier declines.

In the previous session, Brent settled at its lowest level in nearly four weeks as traders weighed talks to end the wars in Ukraine and Iran.

Vote counting was under way in the US midterm elections, with Democrats snaring majorities in both chambers for the rest of Trump’s second term.

“President Trump’s conflicting signals, with military strikes continuing alongside statements downplaying further escalation, have made it difficult for traders to build strong directional conviction,” said Priyanka Sachdeva, head of market insights at Phillip Nova.

“I believe some profit-taking and reduction in speculative long positions are justified, particularly after the sharp rally in October.

Markets remained on watch for any progress in talks to end the US-Israeli war with Iran, as Qatar stepped up mediation efforts to avert an escalation of attacks after the US elections

“However, the underlying supply disruption risks around the Strait of Hormuz have not disappeared. An unexpected drawdown in US crude inventories is also offering some fundamental support.”

The US had carried out “defensive” strikes on Iran’s Qeshm Island targeting surface-to-air missiles used against US assets, a US official said on Tuesday. Another official said the strikes appeared limited and did not signal a return to major combat operations.

Markets remained on watch for any progress in talks to end the US-Israeli war with Iran, as Qatar stepped up mediation efforts to avert an escalation of attacks after the US elections.

A senior Iranian official on Tuesday said Iran and the US remained far from a deal to end their war.

Meanwhile, crude stocks fell by 5.27-million barrels in the week ended October 30, market sources said on Wednesday, citing data from the American Petroleum Institute.

Gasoline stocks rose by 1.43-million barrels, while distillate inventories fell by 1.19-million barrels from a week earlier, sources said.

“Diesel inventories remain tight, while gasoline stocks rose more than expected. The data are broadly supportive of oil prices,” Haitong Futures said in a note on Wednesday.

Reuters

“Americans said NO TO WAR, and we endorse this message,” Qalibaf posted on X.

“If the US govt betrays their public will to serve international paymasters and blackmailers, it will learn our NO comes with a Nightmare.”

Conscience or the cost of living, Americans said NO TO WAR, and we endorse this message.

If the US govt betrays their public will to serve international paymasters and blackmailers, it will learn our NO comes with a Nightmare.

— محمدباقر قالیباف | MB Ghalibaf (@mb_ghalibaf) November 4, 2026

Reuters

Trump-backed candidates in South Carolina, North Carolina, Texas and Michigan all lost, handing Democrats control of the chamber and exposing the limits of Trump’s political power.

Trump has spent more than a decade reshaping the Republican Party around his Maga movement, dictating primary matchups and pushing aside conservative figures he felt were insufficiently loyal or not aligned with his vision. Trump repeatedly favoured loyalists and ideological allies over more established Republicans with stronger statewide networks and proven electoral track records, betting that his endorsement could overcome their political liabilities.

Tuesday’s results revealed he was unable to persuade the broader electorate to back his choices.

One of the most stunning repudiations came in South Carolina, which had not elected a Democratic senator since 1998 and which Trump won by 18 percentage points in 2024. Trump backed Darline Graham, the sister of late Republican senator Lindsey Graham. But Democrat Annie Andrews won the seat in a stunning upset.

In North Carolina, Trump endorsed former national Republican campaign official Michael Whatley, who lost in a rout to former Democratic governor Roy Cooper.

In Texas, Trump intervened in a messy Republican primary election to promote scandal-plagued attorney general Ken Paxton over senator John Cornyn, a Trump ally who some in the party considered a safer pick in the general election. Democrat James Talarico glided to a victory on Tuesday night, delivering Democrats a seat the party had not won since 1988.

Former US representative Mike Rogers, Trump’s choice in Michigan, was defeated by Democrat Abdul El-Sayed, who will be the first Muslim to serve in the Senate.

The losses came as Trump’s popularity was lower heading into Tuesday’s vote than in the aftermath of the January 6 2021 attack on the US Capitol, according to polls. That helped fuel concerns among Republicans that the president had become a drag on the party he remade around himself.

“This is a Trump Quake,” said Doug Heye, a veteran Republican strategist, pointing to voter frustration over high prices caused by tariffs and the war in Iran. “Trump spent the year telling voters what was important to him, not to them.”

Trump struck a defiant tone as election returns arrived.

“I wasn’t on the Ballot and if I was, we would have won IN A LANDSLIDE!” Trump wrote in a Tuesday night social media post.

One White House official, speaking on condition of anonymity, said Trump “did a better job promoting many of the candidates on the ballot than the candidates did themselves.”

A senior White House official, also speaking anonymously, said the administration had polling data as far back as six weeks ago showing Republicans would lose both the House of Representatives and Senate, and Trump embarked on a month-long nationwide campaign to try to salvage Republicans’ prospects.

Some independent analysts said the Senate losses bore Trump’s fingerprints specifically. Thomas Kahn, a professor at American University, said the president’s intervention in the Texas Republican primary had cost his party a safe seat, arguing that a nomination for senator John Cornyn “would have been a slam dunk for Republicans to win”.

North Carolina, Kahn said, was another clear case. The Republican incumbent senator, Thom Tillis, said he would not seek re-election last year after a public split with Trump, who threatened to back a primary challenger against him after Tillis baulked at Medicaid cuts in the president’s tax-and-spending bill.

“He essentially gave that seat away to Democrats,” Kahn said. “Roy Cooper would not have run if Thom Tillis had run for re-election.”

Former North Carolina governor Pat McCrory, a Republican, said Trump’s interventions in his party’s primaries had divided Republicans in state after state.

In South Carolina, McCrory said, the president went against two local congressmen, a fight that “really divided the party” — an example, in his telling, of a president spending his political capital against his own side.

McCrory’s sharpest criticism was aimed at Trump’s connection with the voters who built his coalition.

“I think President Trump’s greatest strength was he had a common touch with the working-class people,” McCrory said. “He lost that skill. He better regain that skill for the good of the country.”

Reuters

Market reaction was swift as the results rolled in during Asian trading hours. AI-related shares tumbled across the region, while Treasury yields dipped, dragging the dollar lower. US stock futures fell sharply before paring losses.

Here are some comments from analysts:

Christopher Hodge, chief US economist, Natixis, New York:

“The wave looks to be under way; the questions are how high, how wide, and what will the fallout be?

“Economically, we still don’t think the direct implications are huge.

“That doesn’t mean that tonight won’t have big implications. For one thing, Trump doesn’t like bad news, and seeing as how he personally selected many of the struggling candidates, he might be looking to change the narrative sooner rather than later.

“A ‘short and intense’ campaign in Iran has been rumoured... and that would certainly be a distraction.

“Presidents typically start making changes after midterms anyway, and Trump could be looking for scapegoats. Secretary of defence Hegseth comes to mind as a possibility. Bessent is another one to watch... he may be looking for a graceful exit if he views the administration as a sinking ship.”

Jake Dollarhide, chief executive, Longbow asset management, Tulsa, Oklahoma:

“A Democratic sweep of Congress would put pressure on tech and potentially bring regulatory pressure on everything AI and possibly slow down the wild, wild west growth figures that we see daily and often take for granted.

“While Democrats rule Silicon Valley, tech CEOs are rooting for Republican victories tonight.

“Musk was the Hail Mary for Republicans leading down to the wire. Unfortunately, his large infusion of cash to back red states could not overcome higher utility bills, prices at the grocery store and prices at the gas pump.”

Tapas Strickland, chief market strategist at Moomoo ANZ, Sydney:

“I think the fear is that the pace of the AI infrastructure rollout could slow, potentially quite markedly in Texas, as they start to digest exactly what mandate they might have in terms of AI.

“Going into this, we were talking about the importance of the Texas and Georgia governor races. Those two states effectively make up about a third of all AI data centre spend and projects. If both of those go Democrat at the governor level, the potential for it to slow is very much there, and that would obviously cascade through to the rest of the AI sector.”

Nick Ferres, CIO, Vantage point asset management, Singapore:

“While the Democratic sweep was consensus leading in, the magnitude of the margin likely matters. The risk is around greater regulation of the AI and crypto complex. Also, there will likely be a challenge on the debt ceiling and potential impeachment of the President. The AI complex — measured by the Goldman Sachs Broad AI basket — was down 15% in October and is down over 24% from peak. The Nasdaq is catching up on the downside.”

Michael Arone, chief investment strategist, state street global advisors, Boston:

“I don’t think the big risk to markets is from the blue wave; it’s investors overreacting to a blue wave.”

Mark Malek, chief investment officer, Siebert Financial, New York:

“It’s a little early, but at the end of the day I think a lot of this was factored into markets. I expect a little bit of volatility overnight and into tomorrow, but I don’t think it’s that crazy, not anything out of the ordinary; 2016 was worse. I feel like the real excitement would have been if the Republicans had unexpectedly seen big gains.”

Tai Hui, chief market strategist for Asia-Pacific, JP Morgan asset management, Hong Kong:

“Trump still has veto power — that will be one of the sticking points for the remaining two years of President Donald Trump’s term. You do have a debt ceiling sometime next year.

“In areas such as reversing healthcare spending cuts in the One Big Beautiful Bill, or reversing restrictions on renewable energy, the general consensus is that a divided government is going to create a couple of things — the upside surprise is fiscal deficits are likely to be much more controlled or limited. There’s still a number of areas where US President Donald Trump can influence the markets — trade and tariffs, foreign policy, and existing regulations.

“How much is really the election, how much is the AI story that’s fermented since three or four weeks ago? I think it’s the latter rather than the political story.”

Charu Chanana, chief investment strategist, Saxo, Singapore:

“Markets appear to be pricing in the possibility of a stronger-than-expected Democratic showing, which could reduce expectations for further fiscal stimulus. That helps explain the softer dollar and pressure on equities.”

On stock futures paring losses:

“The blue sweep hasn’t changed, but markets may be recognising that political gridlock doesn’t necessarily mean weaker corporate earnings. Lower Treasury yields could also support equity valuations, while some of the worst-case policy risks may already have been priced in.

“The rebound suggests investors are not ready to abandon the buy-the-dip playbook just yet.”

Jesper Koll, expert director at Monex Group, Tokyo:

“This is basically an imperial presidency that operates by executive orders. So the fact that it looks like Congress is turning Democrat, I personally doubt that’s going to have much of an impact on actual policymaking. There’ll be more noise, whether it’s impeachment or investigations into corruption and all these wonderful things the Democrats talk about. But is President Trump’s style of rule going to change? I think the answer is no.

“The AI momentum has turned negative, with or without the Republicans having a majority. The starting point for financial markets into this election, particularly for the equity market, has been adverse on AI, and I don’t think the outcome of the election has very much to do with that, or with whether all the tech bros remain in charge, and therefore it’s off to the races again. The criticism and the worries about AI go way beyond politics.

“At the margin, I think it’s going to be dollar positive, in the sense that the market’s perception of greater Federal Reserve independence is going to come to the fore.”

Kazunori Tatebe, chief strategist, Daiwa asset management, Tokyo:

“Trump can exercise a veto on Federal decisions, but the market will be cautious about data centre projects in Texas, where a Democrat won the governor race. Decisions on these projects could be made by state by state.

“The declines in Japanese AI stocks will be limited as they have become cheap. Their profits are solid.”

Tim Sun, senior researcher at Hashkey, Hong Kong:

“Potential shifts in the US political landscape could stall the progress of structural crypto legislation and institutional framework development. All of these factors leave the crypto market facing strong headwinds.”

Andrew Lilley, chief rates strategist at Barrenjoey, Sydney:

On the risk of Trump delivering on a pledge to send $5,000 to every adult in the event of a Republican sweep.

“Even though that was considered a 5% tail risk, that’s now gone. If it had happened, it would have been a cataclysmic reaction from Treasuries.”

Reuters

Story audio is generated using AI

The Electoral Commission of South Africa (IEC) has reminded political parties and municipal councillors of the legal regulations surrounding campaigning as the country heads to the polls today.

Voting stations opened nationwide at 7am and are scheduled to close at 9pm.

According to the IEC, voting has commenced smoothly across the country, with all stations successfully opening and no major glitches reported.

Briefing the media at the national results operations centre (ROC) on Wednesday, IEC chairperson Mosotho Moepya outlined the key dos and don’ts for election day.

Prohibited conduct at voting stations

The IEC highlighted key restrictions within the demarcated boundaries of voting stations:

• All active campaigning inside voting station boundaries is strictly prohibited;
• The display or distribution of any political billboards, posters, placards or pamphlets is prohibited within station grounds;
• Attempts to induce, influence or persuade voters to support or refrain from supporting a specific party or candidate are strictly forbidden; and
• Any attempt to persuade or prevent individuals from casting their vote is prohibited.

What is allowed on voting day

Moepya emphasised that the only permissible political activity within the boundaries of a voting station is the casting of ballots.

Clarifying the rules on campaigning outside voting station grounds, Moepya said South African law does not impose a total ban on political activity on election day.

• There is no wholesale prohibition of political activities on voting day, provided they do not take place within the demarcated boundary of a voting station.
• Political activity may occur outside these boundaries, though organised political meetings, marches, demonstrations or public events remain prohibited everywhere.

“The law does not enforce campaign silence on election day. However, any person who contravenes the legal framework will be guilty of an offence and, on conviction, liable to a fine or imprisonment for up to five years,” Moepya said.

The commission urged all political parties, candidates and voters to strictly adhere to the regulations.

“These provisions are intended to ensure voters can freely exercise their right to vote, while allowing low-key campaigning to continue without the disruption of organised public events,” Moepya said.

Voters are encouraged to verify their registration details and voting station locations before heading out to vote.

You can check your status through the following channels:

• WhatsApp: send your ID number to 0600-88-0000.
• SMS: text your ID number to 32810 (R1 per SMS).
• Call Centre: call toll-free at 0800-11-8000.
• Online: Visit the IEC website at www.elections.org.za

TimesLIVE

A Democratic wave

Opinion polls ahead of the midterms pointed to Democrats having a good night. However, the scale of their gains was far greater than most analysts had forecast, extending beyond traditional battlegrounds deep into Republican territory.

In Texas, James Talarico routed Republican Ken Paxton, becoming the state’s first Democratic senator-elect in 38 years.

In flipping the Senate seat in South Carolina, the party also made history. Democrats have not won a Senate race there this century, and the win by Annie Andrews over Republican senator Darline Graham became another defining upset of the night.

In the Senate race in Ohio, a state Trump won three times, Democrat Sherrod Brown prevailed, while in Kansas, Democrat Adam Hamilton easily defeated Republican incumbent Roger Marshall. Democrats last won a Senate seat in Kansas in 1932 during the Great Depression.

Democrats were projected by US media outlets to win back control of both the US House and Senate.

Strategists in both parties said the Democrats’ sweeping victories were fuelled by strong turnout of party faithful and independent voters who broke their way in both swing states and Republican strongholds. Democrats also adopted a strategy to field a candidate in every race, even those who only months ago appeared to be long shots.

Those bets paid off, particularly as Republicans fielded candidates who struggled to overcome Trump’s unpopularity and voter anger over high prices.

However, winning back Congress could be a double-edged sword for Democrats.

Voters will likely look to Democrats to address their economic concerns and not only oppose Trump. However, they will be limited in what legislation they can pass as the president retains veto power. Trump could also say Democrats are at the very least equally culpable for the state of the economy.

Trump told media outlets he would accept the election results and was prepared to work with Democrats.

An angry electorate

Trump asked voters to pretend he was on the ballot. They did, and Republicans paid the price.

Early results and exit polls showed an electorate in a sour mood, delivering a strong rebuke of Trump and his agenda as voters expressed deep unhappiness about high prices and the direction of the country.

Many said they feel worse off than two years ago and nearly nine in 10 identified the cost of living as a crucial or major factor in their vote, according to exit polls.

Trump was elected in 2024 on a promise to arrest high inflation, but his tariffs on foreign goods and the war against Iran have worsened the economic situation for many Americans. His response on the campaign trail was to tell Americans to absorb the higher costs even as his popularity sank to record lows.

Nearly two-thirds of voters in the exit polls blamed Trump for high prices, while three-quarters said they were either angry or dissatisfied with the direction of the country. Voters also expressed widespread concern over government corruption.

Rejecting Trump’s picks

It wasn’t only a bad night for Republicans, it was a bad night for Trump personally. He suffered defeats as several candidates he had elevated over the objections of local Republicans struggled in races the party expected to win.

Trump’s handpicked Senate candidates in South Carolina and North Carolina, Graham and Michael Whatley, lost their races, while Paxton in Texas was soundly beaten. Trump’s choices put Republicans on the defensive in states where they had been favoured to win.

The losses are likely to revive questions about Trump’s political instincts, particularly his tendency to prioritise personal loyalty over candidates with broader electoral appeal.

The exit polls showed the coalition of voters that powered his 2024 victory is badly fractured. Republicans recorded sharp declines in support among black men, Latinos and young voters.

Economy outweighs fear

In the closing weeks of the campaign, Trump and his fellow Republicans tried to paint Democrats as dangerous radicals and communists who would destroy the country if elected.

The attacks didn’t work. Voters were far more focused on the price of groceries and fuel and wanted to hear more from Trump about how he would lower costs.

During the campaign, Trump repeatedly argued that if Democrats won, “it’s going to be a communist country”. He said Democratic establishments in some states had been replaced by “crazed lunatics and radicals”.

Fear has often worked as a tactic in US elections, but in the end Trump could not persuade voters that Democrats really posed an existential threat to the US.

Goodbye Hispanic honeymoon

Trump’s honeymoon with Latino voters may be over. That’s bad news for Republicans who had been counting on the major group of swing voters for wins from California to Florida.

In Texas, where four in 10 people are Latino, Democrats flipped the governor and Senate seats, media outlets forecast. In heavily Latino southeast Florida, Democrat Pia Dandiya triumphed in the 22nd congressional district despite the district being recently redrawn to favour Republicans.

Latino voters helped lift Trump to victory in 2024, when he won nearly half the Hispanic vote, up from about one-third in 2020. Two years later, many had deserted his party. Economic anger helped drive Republican support among Hispanic voters down to only one in three on Tuesday, from 46% in 2024, exit polls showed.

The victories of Gina Hinojosa, who will become the first Latina governor of Texas, and Xavier Becerra, who will be California’s first elected Latino governor, underscored the importance of the Hispanic electorate.

Reuters

Story audio is generated using AI

By Elizabeth Howcroft and AJ Vicens

Hackers used a bogus job interview and software hidden in an advertisement to compromise the computers of two Binance software engineers before using a third’s computer to drain $6.3bn worth of crypto in last week’s record heist, the exchange said on Tuesday.

In its initial report on how hackers pulled off what could be the largest-ever financial theft, Binance detailed a multi-stage hacking endeavour that began in June and set off a series of security breaches culminating in the theft on Thursday.

Even as Binance scrambled to lock down its system and freeze withdrawals after detecting the attack late on Thursday, the hackers were still making off with crypto from the exchange nearly four hours after the first theft, Binance said.

The FBI has blamed a North Korean hacking group, a claim North Korea has rejected. Binance has said it is repaying all customers whose funds were stolen.

The attack has raised questions about how hackers breached the world’s largest crypto exchange after years of North Korea-linked attacks, which have grown in ambition and frequency, and renewed questions about the vulnerability of digital assets to cybercrime.

Cybersecurity experts and government officials have for years warned about North Korean and other hackers using phoney job interviews to target employees at companies of interest, said Michael Barnhart, a researcher with cybersecurity firm DTEX. Fake job interviews are a well-known hacking technique.

Binance said it had detected and prevented 57 suspected North Korea-linked cyberthreats in 2026. That shows Binance is “just getting barraged”, Barnhart said.

“This should not have happened, and we apologise for the concern, disruption and uncertainty it caused our users, partners and the wider industry,” Binance said in its report.

Left exposed

Binance said the attack began in June when an employee on its wallet developer team downloaded a tool from the internet that hackers had tampered with. The exchange said it detected this afterwards, replaced the device and changed credentials, but the employee’s role and those of others on the wallet team were exposed.

A person familiar with the incident said the tool’s malicious version had been placed in an advertisement, which meant it appeared higher in a search engine than the real version.

Then in September, a second software engineer seeking a new job downloaded a “malicious code repository” onto the person’s computer after interviewing for what they thought was a legitimate role, including meeting virtually with the CEO of a fictitious company, Binance’s report said.

On October 20, the attacker used the compromised computer plus an internal AI tool to gain control of the wallet developer’s system and that of a second wallet developer.

Nine days later, the attacker used the second wallet developer’s computer, with stolen credentials from the first wallet developer, and triggered a malicious script to launch the attack.

A limited number of engineers at the company have direct access to wallets — which store or trade crypto — the person familiar with the hack said.

Crypto removed in minutes

The attack unfolded quickly on October 29, removing 233.46 million XRP — a cryptocurrency — from five Binance hot, or internet-connected, wallets to an attacker-controlled address in just four minutes, before attackers withdrew other cryptocurrencies, including bitcoin, the exchange said in its report.

Binance said it received an internal alert about large transfers and began investigating. It moved to suspend withdrawals, freeze affected tokens and remove unauthorised permissions, resulting in about $2.85bn of frozen assets, but suspending withdrawals alone could not stop all unauthorised asset movements.

Attackers used 50 signing transactions to manipulate the account, while Binance said it was forced to build new procedures to revoke authorisations, slowing its response.

The final unauthorised transfer was at 2356 GMT, Binance said, nearly four hours after the attack began.

Binance said as a result of the hack, it was increasing investment in AI-enabled detection and working on establishing a security research fund and targeted initiatives with leading AI companies.

Reuters

The absence of US tariff-related costs that hit earnings a year earlier will also help.

Operating profit for the world’s biggest automaker in the July-September quarter is predicted to surge 18% to 992-billion yen ($6.3bn), according to the median estimate of nine analysts surveyed by LSEG.

Revenue was predicted to rise 8% to 13.4-trillion yen.

Global sales of Toyota and Lexus vehicles fell 4% to just over 2.5-million units during the period, hit hard by a 22% decline in China and a one-third drop in the Middle East.

But the Japanese automaker saw higher-margin electrified vehicle sales in North America jump more than 30% to almost 430,000 vehicles, although overall sales volumes in the US rose less than 1%.

“With gasoline prices rising, there is demand for more fuel-efficient hybrids,” said Yuya Takahashi, an analyst at Marusan Securities. “The key is how many of those more profitable hybrids are being sold.”

Toyota’s performance in China, the world’s largest auto market, is likely to remain a key concern for investors as fierce competition from domestic brands amid a rapid shift to EVs is challenging its gasoline-powered and hybrid-heavy lineup.

The pain was visible at supplier earnings, with Denso last week reporting a more than one-third drop in operating profit in Asia for the six months through September, hit by weaker vehicle sales in China and higher material costs.

Investors will also be watching Toyota’s growing investments in factory automation, vehicle software and autonomous driving.

Toyota has estimated it could cost 1-trillion yen annually from 2028 to modernise its factories as it steps up automation and robotics deployment.

Reuters

Presenting third-quarter results, Vigna said Ferrari was “very satisfied” with the company’s first fully electric model, with first deliveries due at the end of this year.

“Everything we plan to sell next year is already fully allocated,” Vigna told journalists, adding that client test drives, scheduled for next year, would help further boost demand.

Vigna declined to provide specific figures about 2027 sales targets for the Luce, a model that drew fierce criticism at its launch in May for its unconventional design.

“We have no critical issues, neither on manufacturing nor on the demand side,” Vigna said. “Obviously the car is more complex because it has many new parts and many new technologies.”

Asked about further EV models, Vigna said the company was working on them to achieve its target of having 20% of its range made up of fully electric vehicles by 2030.

Reuters

Story audio is generated using AI

The Judicial Service Commission (JSC) has recommended that Gauteng High Court judge Portia Phahlane face a tribunal to investigate a complaint of gross misconduct that could lead to impeachment.

A gross misconduct finding by a tribunal and endorsed by the commission could lead to a recommendation of impeachment to be voted for by parliament.

Last year, Gauteng deputy judge president Aubrey Ledwaba lodged a complaint against Phahlane after she was arrested and charged with corruption.

The complaint arose from corruption allegations that Phahlane, who was appointed to the bench in 2021, had presided over litigation in a succession battle at the International Pentecost Holiness Church and received bribes to influence her decisions.

The JSC on Tuesday announced its decision to recommend to chief justice Mandisa Maya to appoint a tribunal to investigate the complaint.

“The JSC resolved that there are reasonable grounds to suspect that judge Phahlane is guilty of gross misconduct as contemplated in section 177(1)(a) of the Constitution (removal from office). The complaint warrants referral to a tribunal for consideration,” the JSC statement reads.

“Thus, the commission... resolves to request the chief justice to appoint a tribunal to investigate the complaint which has been lodged by then acting judge president Ledwaba against judge Phahlane.”

The complaint was first heard before the Judicial Conduct Committee (JCC), which in May decided to recommend a tribunal investigation to the commission. It indicated that “there can be no denying that if the allegations in the indictment are established, they would prima facie indicate that the respondent is guilty of gross misconduct.”

Phahlane’s co-accused in the corruption case, Bhekumuzi Sandlana, has been accused of facilitating bribes to the judge to rule in his favour.

The JCC report found that Phahlane was designated to case-manage the matter for trial. The report notes that unless the parties agree, a judge who has managed a case is not permitted to preside over that case’s trial.

In the corruption case, Sandlana allegedly offered a bribe to Phahlane to rule in his favour, which she accepted.

In 2022, Phahlane allegedly made an offer to buy a house for R6.5m in Hartbeespoort, North West. Shortly thereafter, an amount of R2m was deposited into the trust account of a conveyancer by a company linked to the church.

Phahlane denies all the allegations.

The JCC, led by retired justice Chris Jafta, noted in its report that the allegations strike at the core function of the judiciary and destroy public confidence in the administration of justice.

“Regrettably, if the current allegations are true, it has now breached the last line of defence, the judiciary,” said the report.

“We have not imagined that a day like this would ever come, where we are called upon to consider allegations of corruption against one of us, a fellow judge.”

“These allegations are highly damaging to the judiciary, which heavily relies on public trust and confidence for a proper administration of justice.”

Business Day

In an interview with Fox News, Trump said Democrats would send legislation he considered “insane” to his desk and he would veto it.

“They’ll send over things that are insane, and I’ll veto them,” he said. “And after a few months of vetoes, they’ll call and they’ll say, ‘How do we get this stuff done?’ and we’ll work together.”

Trump said the war in Iran had weighed on Republican candidates, even as voters backed his handling of it. “I think a part of it was Iran, but at the same time people understood the importance of what I’ve done with Iran.”

Reuters

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Combined Motor Holdings (CMH) faces an unexpected leadership transition after the death of group CEO Jebb McIntosh, who spent nearly five decades at the JSE-listed motor group and was instrumental in building the business.

The company announced on Tuesday that McIntosh died on November 2. He had served on the board since co-founding the group with Maldwyn Zimmerman in 1976 and was appointed CEO in 1999.

His death comes after CMH had begun making changes to its senior leadership structure, with plans for McIntosh to reduce his involvement in the group’s daily operations and head of motor retail and distribution Charles Webber to assume greater responsibility.

In an earlier announcement, the company said McIntosh would remain CEO while Webber took on a more significant role, effectively positioning him as co-CEO, Business Day reported. However, the company had not provided a date for McIntosh’s eventual departure or clarified the full succession arrangements.

Webber has been with CMH for 25 years, having joined the group in 2000 as dealer principal of its Umhlanga Toyota-Lexus dealership. He was twice named the group’s dealer principal of the year and joined its motor executive committee in 2005.

In 2024, he was promoted to CEO of the motor retail and distribution division, overseeing brands including Toyota, Nissan, Stellantis and Mahindra.

The latest announcement does not specify whether Webber will now take over as group CEO or outline any further changes to the executive structure after McIntosh’s death.

The leadership transition also follows plans for long-time chief financial officer (CFO) Stuart Jackson to step down. Company secretary Priya Govind was appointed CFO designate.

Jackson, 72, has served on the board since 1986, while McIntosh, who was 79, had been one of the company’s longest-serving directors.

CMH operates about 43 motor dealerships representing 29 vehicle brands across Gauteng, KwaZulu-Natal and the Western Cape. Its rental business, First Car Rental, has a fleet of more than 7,000 vehicles and operates through 50 branches across SA, employing more than 400 people.

The group, valued at about R2.6bn, is one of Durban’s few JSE-listed companies.

CMH chair James Dixon said McIntosh remained actively involved in the business until his death.

“Up until the moment that he passed, Jebb was having a typical day in the office, directing the activities of his beloved CMH,” Dixon said.

He said McIntosh had left an enduring legacy and would be remembered for his business acumen, attention to detail and ability to handle complex situations.

Business Day

Last month the Council for Medical Schemes (CMS) appeal committee directed KeyHealth to pay for AstraZeneca’s Ultomiris, which is used to treat paroxysmal nocturnal haemoglobinuria. The 15-year-old’s treatment is expected to cost more than R7.3m in the first year and R6.1m a year thereafter.

The BHF, an industry association for medical schemes and administrators, said the case underscored the need for a sustainable, industry-wide approach to covering the extremely high treatment costs associated with some rare diseases.

It has proposed a voluntary risk-pooling mechanism called EquiAxis, in which participating medical schemes would share the costs of qualifying high-cost treatments through a collective funding mechanism. Work on the project is ongoing.

“Rare conditions requiring exceptionally expensive treatment can place disproportionate pressure on an individual scheme, particularly one with a smaller membership base. Sharing these risks across many schemes would spread the financial impact more widely and make treatment costs more predictable,” said BHF MD Katlego Mothudi.

Medical schemes already pool risk between members, which means covering extremely expensive medicines directly would push up the cost of contributions for all members, he said.

Discovery Health executive head for policy and regulatory affairs Roseanne Harris said setting up a separate vehicle to fund rare diseases would still lead to an increase in costs for medical scheme members.

“The problem with a rare disease fund is the money has to come from somewhere ― you are still asking medical scheme members to fund these high-cost treatments. It redistributes the risk but it doesn’t create affordability. The cost of these treatments is the real issue,” she said.

While MediCheck, which represents the child’s family, said the ruling set a precedent for other patients with prescribed minimum benefit (PMB) conditions, the BHF said it was an administrative decision confined to an individual case.

PMBs are a basic basket of care that all medical schemes must cover for all their beneficiaries, regardless of which option they join. The appeal committee overruled KeyHealth’s argument, upheld by the CMS registrar, that an explanatory note in an annexure to the PMB regulations only requires schemes to meet the level of care provided in the public sector. It ruled that treatment for PMB conditions must be covered in full.

KeyHealth is a medium-sized medical scheme with 78,000 beneficiaries. It has notified the CMS that it intends to appeal the committee’s ruling.

Business Day

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The US decision to remove South Africa from its preferential trade programme is expected to have a limited additional impact on vehicle exports, as punitive tariffs have already driven an 83.2% decline in shipments to the US market.

This is the view of automotive industry body Naamsa, which said the proposed termination of South Africa’s eligibility for the African Growth and Opportunity Act (Agoa) will add to uncertainty in the bilateral trade relationship but is unlikely to worsen the industry’s existing export challenges.

South African vehicle exports to the US fell from 24,682 units in 2024 to just 4,136 in 2025, after the introduction of 25% tariffs on imported vehicles under section 232 of the US Trade Expansion Act in April last year. Tariffs on automotive components followed in May.

The tariffs apply independently of Agoa eligibility and have substantially eroded the commercial value of the preferential access previously enjoyed by South African manufacturers.

Naamsa said the Agoa termination, effective January 1 2027, would not close the US market to South African automotive products. Exports would remain possible, although subject to the applicable US tariff regime.

Mercedes-Benz South Africa is the car manufacturer most exposed to the effect of US tariffs, with almost all locally manufactured vehicle exports to the country comprising C-Class models built at its KuGompo City plant in the Eastern Cape.

Mercedes-Benz has confirmed that the newly facelifted C-Class will be manufactured locally, though the factory’s longer-term future remains uncertain amid US trade barriers and declining export volumes.

Other major exporters, including Ford and BMW, have reduced their exposure to the US market, focusing instead on Europe and other international destinations. BMW South Africa previously exported large volumes of X3s to the US from its Rosslyn plant, but exports of the new-generation model are now largely destined for markets elsewhere. Ford South Africa exported a small number of Rangers to the US in 2025.

Agoa has generated R28.6bn in export revenue for South Africa’s automotive industry, with 24,681 vehicles exported under the programme, according to Naamsa.

The industry body said the programme had helped strengthen trade and investment ties between the two countries over several decades, supporting manufacturing integration and the development of local supply chains.

The automotive industry remains a big contributor to the domestic economy. Vehicle and component exports reached a record R291bn in 2025, while the sector contributes 5.2% to GDP and sustains about 498,000 jobs across the formal economy.

Naamsa said manufacturers were exploring alternative export markets, including Canada, while South Africa could also leverage existing trade arrangements with the EU, UK and African markets.

However, it cautioned that diversification would take time and could not replace the value of established markets and long-standing investment partnerships.

“The US remains an important trading partner, and preserving commercially viable access is in the interests of both economies,” it said.

Naamsa said it would continue engaging with the department of trade, industry & competition and other stakeholders, providing economic analysis and industry evidence to support discussions aimed at securing a sustainable trade outcome.

Democrats were also on track to take control of the US House of Representatives after flipping eight Republican seats in states including Kentucky, New Jersey and North Carolina, and showing strength even in solidly conservative districts.

In Texas, Democratic state representative James Talarico withstood a barrage of outside spending to defeat scandal-plagued Republican attorney general Ken Paxton in a state that voted for Trump by 14 percentage points two years ago.

In South Carolina, a state Trump carried by nearly 18 points in 2024, paediatrician Annie Andrews triumphed over Republican senator Darline Graham, who was appointed to the seat after the death of her brother, senator Lindsey Graham.

In both races, Trump elevated Paxton and Graham ahead of more established candidates despite clear liabilities. Paxton has been at the centre of a litany of controversies, including his 2023 impeachment and securities fraud charges, while Graham’s admitted inexperience drew negative headlines.

Trump campaigned heavily for both Republican candidates as part of a late election blitz that included more than two dozen rallies, and the president told his supporters repeatedly to “pretend I’m on the ballot” in an effort to fire up his base.

On Tuesday night, as it grew clear Republicans were in danger of losing their congressional majorities, Trump wrote on social media: “I wasn’t on the ballot and if I was, we would have won in a landslide. Thank you for your attention to this matter.”

The Democratic wave underscored voters’ deep frustration with Trump’s stewardship of the economy and his decision to launch a war against Iran in February, which sharply drove up fuel prices. In poll after poll, voters expressed anxiety about the cost of living and anger at the way Trump has handled the issue.

Along with Democrat Roy Cooper’s win in North Carolina’s Senate race, the party has flipped three of the four seats it needs to capture a Senate majority, assuming it holds its own seats in Michigan and Minnesota.

Democrats held onto Senate seats in Georgia and New Hampshire, both races that were once considered competitive but moved out of reach for Republicans amid Trump’s declining approval ratings.

A rebuke for Trump, says winner

“In sweeping and decisive victories, the American people have rebuked the depravity, corruption and incompetence of the man named President Donald J Trump,” incumbent Democratic senator Jon Ossoff, the projected winner in Georgia, told supporters at a victory party.

In Florida, Republican senator Ashley Moody fended off Democrat Angie Nixon but was ahead by only about three percentage points in a state Trump carried by 13 points in 2024, according to a vote count compiled by Reuters and USA Today, further evidence that even solidly Republican states were shifting dramatically toward Democrats.

Democrats held onto three House districts in Florida that Republican lawmakers had redrawn earlier this year, all of which backed Trump by at least nine percentage points.

According to exit polls conducted by SSRS on behalf of a consortium of US media outlets, including major television networks and the Associated Press, half of voters nationwide said they saw the 2026 midterm elections as an opportunity to rebuke the president, and three-quarters said they are “angry” or “dissatisfied” with the way the country is headed.

In addition, 70% of voters surveyed said they want Congress to provide more checks and balances on the president.

Trump deploys election monitors

Legal observers and Democrats have warned that Trump, who has long falsely claimed that US elections are rigged, may attempt to challenge Tuesday’s results if Republicans lose.

The justice department said it had deployed 1,000 election monitors and observers to all 50 states in what it called the largest Election Day monitoring effort in history.

Democrats criticised the plan as potential voter intimidation. In about two-thirds of the jurisdictions the department listed, voters supported Democrat Kamala Harris over Trump in the 2024 presidential election, a Reuters analysis found.

Election officials in several states reported no issues with the monitoring effort. New Mexico’s secretary of state’s office said it had received reports of federal monitors asking “unusual questions” in one county, and the justice department offered assurances the conduct would be addressed.

Reuters

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Johannesburg is South Africa’s most important economic centre, home to the country’s largest concentration of businesses and financial institutions. What happens to Johannesburg matters not only for its residents but also for the whole country. Yet over the past decade the city’s decline has increasingly undermined its economic potential. Failures in municipal government have made Johannesburg an increasingly difficult place in which to do business, invest, find employment and build a secure family life.

Joburg residents are getting poorer. The city’s economy has barely grown for more than a decade. When population growth is taken into consideration average per capita GDP in the city has fallen from R99,858 in 2013 to R95,737 in 2023 (in real terms). By the second quarter of this year the city’s official unemployment rate had reached 35.9%, the highest of any metro and above the national rate of 33.6%. During the one-year period ending in June 2026, Johannesburg lost about 90,000 jobs while Cape Town added 57,000.

Johannesburg’s economy cannot grow while the city’s dysfunction continues and worsens. When roads deteriorate, transport costs rise and supply chains become less efficient. When electricity and water systems fail, firms incur additional costs to maintain operations and absorb production losses.

Municipal dysfunction therefore acts as an implicit tax on economic activity, raising costs while services deteriorate. In Selby, prolonged water shortages have left factories unable to operate and hundreds of factory workers without permanent or full-time work.

Johannesburg cannot expect to retain the businesses and entrepreneurs it has, let alone attract the investment and the skills it needs, while conditions continue to deteriorate. You have to stop falling before you can grow.

Yet rather than focusing on actions designed to attract private investment the present Johannesburg administration has proposed a growth strategy that looks to the state to reshape the economy via grand plans and expensive ribbon-cutting projects. Its recently approved economic growth strategy proposes almost 30 projects, with an estimated total cost of R111.47bn over five years. These include an R1.5bn international convention centre in Lanseria, a R2.14bn film and clothing cluster, and a R546m biodiesel production plant. The city expects private investors and donors to provide 98% of the funding.

Even if the money could be raised, these projects would require considerable capacity to plan, co-ordinate and oversee. Yet the strategy itself explicitly recognises that its ambitious programme of new economic development projects can only be successfully adopted by a city with substantially more resources and administrative capacity than Johannesburg presently possesses. It nevertheless presents its plans as realistic and implementable.

Similarly wrong-headed is the Johannesburg Township Economies By-Law, gazetted in late 2025. It requires township businesses to register with the city by January 17 2027. The stated aim is “to support township enterprises”, but the approach creates new red tape obstacles for the very businesses it is meant to help.

Johannesburg needs a different approach. There is no alternative but for the city to start by fixing the basics. Restoring reliable services, beginning to reduce the city’s enormous infrastructure backlog, rebuilding municipal institutions, combating corruption and stabilising its finances must be the priorities. Businesses and investors need a city that works.

Restoring reliable basic services would do more than prevent further economic decline. It would jump-start growth by allowing Johannesburg’s existing economy to become more productive and create new opportunities for businesses and workers. Instead of losing an average of 20.6 hours every three months to power outages, the equivalent of two and a half working days, businesses would be able to operate with fewer disruptions, increasing production and serving more customers.

Reliable services would make it easier to establish new businesses. Established companies may be able to afford to compensate for municipal failure, but the same is not true of smaller businesses and start-ups. Reliable electricity, water and roads would free up household income, with the benefits extending particularly to poorer households who cannot outsource municipal failure.

These improvements would reinforce one another. As businesses become more profitable and expand they create jobs, increase demand for goods and services, and generate opportunities for other businesses. This would encourage further investment, as businesses are more likely to invest in areas where others are already doing well. A focus on turning around municipal failure will therefore lead to an upward growth spiral.

Of course, Johannesburg has a number of other major challenges that also affect the city’s growth prospects, including crime, housing and public transport. But the hard truth is that important and pressing as these challenges are, they have to wait until Johannesburg has got the basics of city government working effectively. From the day after the November elections the new government must be ruthlessly focused on its top priorities.

South Africa has had to spend much of the past decade fixing what the ANC government broke. It has devoted far less energy to developing a realistic strategy for future growth, including for the role of large metros and, in particular, its most important city. Johannesburg must devote all its energies and resources to restoring its institutions, infrastructure and services. But the city also needs to consider how it will grow over the next decades.

What will drive future investment, employment and prosperity? How can the city build on its strengths through a growth strategy that encourages enterprise, attracts investments and opens up opportunities for everyone?

The new mayor should appoint a task force to develop an economic vision for the city, supported by practical proposals for implementation. The task force should be small ― five to eight leaders drawn from across society, supported by a small secretariat and funded from the city’s economic development allocation. It should report within one year. Its proposals need to be ambitious and inspiring enough to shape the future while realistic about resources, institutions and capabilities.

The task force will need to ask hard questions. What would have to change for Johannesburg to once again become a leading centre for mining, finance and technology? Can the city become the professional services hub for the continent? The country is making far too little progress on deregulating, eliminating the red tape that holds back growth. Why not start with Johannesburg? Why not let Johannesburg lead the way with more privately run special economic zones, some with exclusions from existing legal obligations on business, to test whether this would raise employment growth rates?

How can large companies interested in helping Johannesburg move from small projects to a more fundamental contribution? A possible model is the Columbus partnership in the US state of Ohio, which created a successful and stable business-government partnership at the city level. And if the city worked with the leading companies and business organisations headquartered in the city, could they together help push the national and provincial government to enact reforms more quickly?

The focus on fixing what is broken is the right and essential priority for Johannesburg’s next government. This challenging process ought to be accompanied by serious thinking about the city’s future and how to build a more dynamic economy that is an essential prerequisite for faster and more inclusive growth.

• Bernstein is executive director of the Centre for Development and Enterprise (CDE). This article is based on ‘Joburg needs faster growth’, the sixth report in Johannesburg Matters: Fixing South Africa’s Growth Engine, a new CDE series.

Tesla has marketed supervised full self-driving (FSD) software to prospective buyers in South Korea for years, often collecting lump-sum payments of 9.043-million won (R112,000).

FSD can be used on about 20% of Tesla vehicles registered in South Korea — those manufactured in the US, Tesla Korea country manager Seo Young-deuk said in parliamentary testimony last month. Those cars meet US vehicle-safety standards that South Korea recognises as part of a free trade agreement, according to the forthcoming complaint to the Korea Fair Trade Commission (KFTC), seen by Reuters.

The complaint to the regulator, which also handles antitrust, has not been previously reported.

However, most Tesla vehicles in South Korea are manufactured in China, where no such agreement exists. Tesla only recently started the process for obtaining FSD certification for China-made vehicles, despite charging customers for the software for more than three years.

Tesla did not respond to requests for comment. A KFTC official said the agency launched a probe earlier this year into Tesla’s advertising of its FSD system and has received written responses from the company, but declined to provide further details.

Fair trade commission investigating

It is unclear how many South Korean customers purchased FSD subscriptions on ineligible vehicles, but Tesla has sold more than 170,000 Shanghai-produced vehicles in South Korea since 2023, according to Tesla data sent to South Korea’s national assembly.

“Tesla generated substantial revenue by selling an expensive driver-assistance system to mass-market buyers who cannot use it for even a single day,” said Choi Young-suk, who leads automotive issues at the advocacy group Citizens United for Consumer Sovereignty.

Tesla continued to market FSD as sales of ineligible China-manufactured Teslas surged in South Korea in recent years. Sales of FSD-incompatible Teslas made in China grew more than fivefold in South Korea from 2023 through last year, when 99% of new Teslas sold in South Korea could not legally use FSD, according to data Tesla submitted to the national assembly.

Despite years of promises from CEO Elon Musk that all Teslas would soon become fully driverless vehicles, FSD is not autonomous and requires active human supervision.

Tesla has sought to expand FSD’s reach beyond North America, particularly in Europe, where the company has waged a pressure campaign against European regulators.

Tesla sales surge in South Korea

Tesla surpassed BMW this year as South Korea’s top imported car brand, according to South Korean import data.

It sold FSD for one-time payments for years ahead of the service’s activation last year, before shifting to a monthly subscription of 150,000 won (R1,857) in August.

The complaint alleges Tesla promoted FSD last year as “coming soon” and posted a demonstration video filmed in South Korea without clearly disclosing the technology could only be used in a small fraction of Teslas being sold.

The company knew those limitations but continued to market the software to all customers, the complaint said.

Tesla Korea manager Seo testified during an October 8 parliamentary hearing that the company had not formally requested FSD testing from the transport ministry. Two weeks later, Tesla applied for certification.

The ministry said FSD does not comply with local safety rules, including requirements for drivers to keep their hands on the wheel, according to a statement it sent to a lawmaker, reviewed by Reuters. The transport ministry could not be reached for comment.

The consumer group accused Tesla Korea of deceptive marketing and asked the KFTC to issue a temporary cease-and-desist order on marketing FSD for ineligible vehicles, impose administrative fines and refer the case to state investigators.

A Seoul court last month dismissed a lawsuit filed by Tesla owners seeking refunds for its FSD option, which was not activated in South Korea until late last year.

The court rejected their claim that Tesla had failed to deliver the driver-assistance system, saying regulatory and legal restrictions had limited the company’s ability to roll out further functions.

Reuters

The recall affects 1,896 vehicles sold between 2021 and 2025.

According to the supplier, the affected vehicles are fitted with an Electric Hydraulic Power Steering Pump (EHPS), which may have an electrical connection susceptible to high resistance. This could result in a warning indicating the loss of power steering assistance or a “Service Power Steering”.

In certain circumstances, high-resistance electrical activity may take place in the area of the EHPS connection, causing overheating of combustible materials, which may potentially lead to a fire.

The NCC has urged consumers to take their vehicles to the nearest authorised Jeep dealership for inspection and the necessary repairs, which will be carried out at no cost. Consumers can also check whether their vehicles are affected by using the VIN check facility on the Jeep website.

TimesLIVE

Research by Stellenbosch University economists Prince Changole and Willem Boshoff found that merger cases raising public interest concerns take markedly longer to decide. These delays add significantly to the cost of doing business.

South Africa’s merger regime has included public interest considerations since the Competition Act of 1998. Amendments made in 2018 went further, giving public interest the same weight as competition issues.

In plain language, this means a large merger will only be approved if it is shown to have no negative effect on competition (consumers and prices), but also if it has no negative impact on any public interest aspect (or if sufficient conditions have been imposed to remedy public interest harm).

In principle, a merger that raises no competition concerns can therefore still be blocked on public interest grounds, though no large merger has yet been prohibited on that basis.

These conditions cause delays, but one may reasonably argue that in a country with such high unemployment and inequality, large mergers should be scrutinised for their effect on the public interest. The conditions typically imposed on large mergers include a moratorium on retrenchments for a set period, local procurement targets, investment commitments and, in some cases, a share ownership scheme for workers from historically disadvantaged groups.

But two recent high-profile cases indicate a novel interpretation of what can be included under public interest conditions. These decisions by the competition authorities seem to indicate a shift in the boundaries of public interest commitments in large merger adjudication.

The Competition Tribunal approved Canal+’s takeover of MultiChoice in July 2025. Canal+’s only previous activity in South Africa was licensing audiovisual content to local broadcasters, MultiChoice among them, and the transaction therefore raised no classic horizontal overlap concerns that would normally cause concern for a competition regulator. However, in addition to the usual employment conditions an additional condition was imposed ― that Canal+ obtains and maintains a secondary listing on the JSE.

The second case followed a year later. In July 2026 the commission recommended approval of Hellenic Bottling Company’s (HBC’s) $2.6bn acquisition of Coca-Cola Beverages Africa. The tribunal approved the merger as recently as September.

HBC had no operations in South Africa before the transaction so there was no competition overlap to assess. And yet the conditions also include a secondary inward listing on the JSE. This is in addition to other public interest conditions dealing with retrenchments and investment.

What makes these two cases interesting is that they seem to be a further extension of the competition regulator’s approach to impose a comprehensive set of public interest conditions on parties to a merger.

This raises serious questions. The first is whether the Competition Act allows the authorities to impose a listing requirement at all. In its Vodacom-Maziv judgment in August last year the Competition Appeal Court was emphatic that section 12A(3) confines the public interest inquiry to five enumerated factors: “The legislature did not provide for an unenumerated list of public interest concerns.”

A stock exchange listing does not fit neatly into any of the public interest factors listed in the Competition Act. One could argue that it promotes a greater spread of ownership or helps national industries compete in international markets. But if there is no substantial lessening of competition, as in both of the cases referred to above, any condition imposed has to answer a merger-specific public interest harm. It is hard to identify which competition or public interest harm a JSE listing remedies.

The second question is whether a listing condition will lead to increased investment. The JSE’s long decline in listings, with delistings steadily outpacing new listings, is a real concern. But using merger control to stem this tide is not an effective strategy. A secondary inward listing typically raises no new capital and commits the buyer to no additional investment in South Africa; it simply makes shares that already trade elsewhere available in Johannesburg, where trading in them is often thin. Nor does it address the reasons South African companies delist in the first place, such as low valuations, the cost of compliance and weak growth prospects.

Broader view

One has to take a broader view of the investment challenges faced by South Africa, and the problem is that the country already has a high regulatory burden compared with other countries. The Organisation for Economic Co-operation & Development’s (OECD’s) 2025 assessment found South Africa’s economy-wide product market regulation more restrictive than that of any OECD member. Adding another regulatory hurdle to potential investors will likely have the unintended consequence of deterring investment, rather than encouraging it.

South Africa has been championing the use of public interest commitments for a long time and most companies understand that one has to comply with these as part of merger control. However, shifting the boundaries to include more onerous criteria that could even dampen investment may be just one step too far. A foreign buyer weighing a South African acquisition must now ask not only which employment and ownership commitments will be required, but also whether it will be told where to list its shares.

Stretching merger control to address a problem it was never designed for risks more uncertainty, longer delays and less of the very investment the condition is meant to attract.

• Prof Theron is director of the Centre for Competition Law & Economics at Stellenbosch University.

Business Day

South Africa has a population of more than 63-million people. For businesses supplying food, clothing, furniture, household goods and services that should represent an enormous domestic market.

Yet population size alone tells us remarkably little about the strength of consumer demand. There is an important distinction between having 63-million potential customers and having 63-million people with the financial means to participate meaningfully in the economy.

South Africa’s official unemployment rate reached 33.6% in the second quarter of 2026. Broader measures of labour underutilisation paint an even more disturbing picture.

Every unemployed person is not necessarily without purchasing power. Families share incomes, social grants provide essential support and informal economic activity contributes to household survival. But none of these can substitute for the purchasing power generated by productive, sustainable employment.

Consumer spending is one of the clearest indicators of an economy’s underlying health. Businesses do not expand simply because the population is growing. They expand because customers can afford to buy what they produce or sell.

There is an interesting apparent contradiction in the latest figures. Despite South Africa’s economic difficulties, real retail sales increased by 3.3% in August compared with a year earlier.

It would therefore be wrong to suggest that consumer demand has disappeared. But a few months of improved retail sales cannot disguise the structural weakness of an economy in which millions of working-age people remain unemployed and many employed households struggle to make ends meet.

The consequences extend far beyond retailing. Weak purchasing power limits the expansion of manufacturing, discourages investment, restricts business formation and ultimately reduces the economy’s capacity to create employment.

It becomes a vicious circle: inadequate employment restricts consumer demand, while insufficient demand discourages the investment needed to create employment. Breaking that circle requires more than temporary relief for household budgets.

It requires a sustained expansion of productive employment, particularly in the private sector. That in turn depends on reliable infrastructure, functioning municipalities, competitive operating costs, investment confidence and a regulatory environment that encourages businesses to grow.

South Africa cannot consume its way to prosperity without first expanding its capacity to produce and earn. The country’s growing population should be one of its greatest economic assets. Instead, too many potential consumers remain economically marginalised.

The challenge is not simply to put more money into circulation. It is to enable more South Africans to earn it. A growing population creates potential demand. A growing employed population creates a market.

David Wolpert

Sydney, Australia

Reading between the lines of wealth management advice

Your esteemed publication gives me much pleasure, but nothing gives me as good a laugh as the pages in which various investment advisers and asset managers explain their particular formula that enables them to choose exactly those shares that will outperform the rest and make us rich.

Blithely ignoring analysis that reveals that about 80% of them fail to outperform passive investment in index trackers, they plough ahead, telling us about their “complete toolbox of wealth saving lessons” and their “modelling which allows us to work out what a share is worth today” (“This is not a time to be a fool”, November 2).

With amazing perspicacity they predict that the bull market in tech shares cannot last forever and there will be a correction (“Protect the downside, participate in the upside”, also November 2). Wow!

In the past 10 years the Nasdaq 100 (hi-tech shares including AI) has gone up by about 500%. During this period it has four times dropped 20% or more. If you are a long-term investor the response should be “so what?”. Of course it will correct again. And go up again. Do we need to pay an asset manager fees to tell us that?

I have even cracked their code. When they write “It takes immense courage to swim against the tide”, it means “we did not do as well as many of our competitors, because we put you into safer shares.” Keep ‘em coming!

Jonathan Schrire

Via email

JOIN THE DISCUSSION: Send us an email with your comments to letters@businessday.co.za. Letters of more than 200 words may be edited for length. Anonymous correspondence will not be published. Writers should include a daytime telephone number.

Business Day

The ANC, on the one hand, has questioned the timing of Washington’s decision to withdraw South Africa’s preferential trade benefits from January 2027, suggesting it could be an attempt to intimidate voters and pressure the government to abandon its transformation agenda.

The DA, on the other hand, has blamed the exclusion on the ANC’s foreign policy and what it describes as the diplomatic failures of international relations minister Ronald Lamola.

Both parties are key members of the government of national unity currently running the country. They also run some metro councils together in coalition with some smaller parties.

The competing positions come as the Ipsos Khayabus “Pulse of the people” survey shows the ANC at its lowest level of support, with the DA gaining ground as the political landscape becomes increasingly fragmented. The uMkhonto we Sizwe party registered 12%, and the EFF 10%, leaving no party with a national majority.

The Agoa dispute has added an international dimension to the parties’ competing election messages, exposing divisions over how South Africa should balance its domestic transformation policies with its economic and diplomatic relationship with Washington.

In a statement on Tuesday, the ANC rejected what it described as the weaponisation of Agoa against South Africa’s economic transformation agenda, saying the timing of the announcement alongside special voting raised concerns about attempts to influence the country’s democratic choices.

“The announcement’s timing during special voting, alongside economic misinformation, deepens concern about attempts to intimidate voters and undermine democratic choices,” the party said.

The ANC accused AfriForum, Solidarity and the DA of contributing to international pressure against South Africa through their opposition to transformation policies including broad-based BEE, land reform and employment equity.

WATCH | “He must not irritate us”: ANC first deputy secretary-general Nomvula Mokonyane slams FF Plus leader Corné Mulder and other critics who blame the ANC for South Africa’s AGOA exclusion. pic.twitter.com/h9rAazIDR9

— Times LIVE (@TimesLIVE) November 3, 2026

Trade labour federation Cosatu has estimated that South Africa’s exclusion from the preferential trade programme would hit agriculture and manufacturing sectors the hardest, with estimates of about 3,000 job losses, or almost 10,000 overall.

“We’re particularly concerned about jobs in the agricultural sector, especially in the Western Cape, Limpopo and Northern Cape, where a lot of citrus farmers and other farmers export to the US,” says spokesperson Matthew Parks.

“We’re also concerned about job losses, and we’ve seen some already over the past year and a half because of the fluctuation of tariffs from the US.

“But I think it’s important not to create too much alarm, because it doesn’t mean you can’t export to the US; you can continue to export to the US.

“This just means that you lose about three-and-a-half percent of the reduced tariff regime towards the US. So you’re three and a half more expensive, in other words, for customers in the US.”

The DA, however, described South Africa’s exclusion as avoidable, blaming Lamola’s handling of relations with Washington and what it called the ANC’s ideological approach to foreign policy.

The party argued that the government’s relationships with Russia and Iran, with its domestic transformation policies, had contributed to South Africa being viewed with suspicion by liberal democracies.

It also accused the ANC of undermining economic growth through BEE legislation and said its refusal to engage with the DA on domestic policy reform in the government of national unity had contributed to the breakdown in relations.

The DA’s criticism of the ANC’s transformation policies and foreign policy positions overlaps with arguments advanced by AfriForum and Solidarity in their engagements with the Trump administration.

Both organisations have lobbied US officials over land reform, affirmative action and employment equity, arguing that these policies discriminate against minorities. Their campaigns have also promoted claims of persecution of white Afrikaners and targeted attacks on farmers and included calls for sanctions against South African political leaders and government officials.

The South African government has rejected allegations of a white genocide, while available evidence does not substantiate claims of a systematic campaign to eliminate white South Africans. AfriForum and Solidarity have continued to press their case in Washington, arguing that the government’s policies and foreign relations warrant intervention.

North-West University Business School economist Raymond Parsons said the withdrawal would have a limited effect on the economy as a whole, though the motor and agricultural industries would bear the brunt, putting thousands of jobs at risk.

PSG Financial Services chief economist Johann Els similarly cautioned against overstating the direct impact. About 7% of South Africa’s goods exports went to the US in 2025, worth about $16.5bn. Of these, about $1.6bn entered under Agoa preferences, representing about 0.7% of total goods exports.

Els said the bigger concern was the potential damage to business confidence, investment and diplomatic relations between the two countries.

“Less than 1% of our total goods exports currently enter the US under Agoa. This is not insignificant for the businesses and workers affected, but the bigger concern is the signal it sends to investors and the potential impact on confidence, investment and our broader relationship with the US.

“We should not confuse South Africa’s large share of total Agoa trade with the much smaller share of our own exports that depends on Agoa,” Els said.

The American Chamber of Commerce in South Africa (AmCham SA) said it noted the announcement by the US Trade Representative’s office with disappointment. It said the removal applies only to South Africa and Rwanda, and that Agoa itself remains in force, having been reauthorised to end-2028.

AmCham stressed that losing Agoa removes a tariff preference but does not stop trade. Citing analysis by XA Global Trade Advisors, it put South Africa’s net preference at about 3.5%, with annual duty savings of less than R2bn concentrated in a few companies.

The motor industry carries the largest employment risk, it said, while citrus, wine, table grapes and nuts are the most affected agricultural lines.

Business Day

Recent developments, including the decision to strip national leaders of their powers and the subsequent attempt to overturn it, have exposed divisions in one of South Africa’s prominent trade unions. Whatever the eventual outcome, the situation invites a broader conversation about accountability, internal democracy and leadership renewal.

Trade unions were built through the sacrifices of ordinary workers who stood together against exploitation and injustice. Their strength came from the factory floor, where workers elected representatives to speak on their behalf. Union leadership was not intended to become a permanent entitlement. It was a responsibility entrusted to individuals expected to advance workers’ collective interests.

There is nothing inherently wrong with serving as a union official for many years. Experience brings institutional knowledge, continuity and an understanding of the struggles workers face. But when leadership becomes a lifelong career, difficult questions arise about succession, accountability and whether fresh voices are being given an opportunity.

One wonders what ordinary Numsa members make of these developments. While leaders contest positions and constitutional powers, workers continue to face retrenchments, rising living costs, workplace grievances and uncertainty about their jobs. Who is speaking for them while their representatives fight among themselves?

These questions matter because workers do not join trade unions to participate in leadership battles. They join because they need protection, representation and a collective voice in workplaces where the balance of power often favours employers. Every hour spent on internal disputes is an hour that could otherwise be directed towards addressing the challenges confronting members.

Perhaps workers are not necessarily tired of trade unions. Perhaps they are questioning whether some leaders have become too comfortable in positions originally entrusted to them by the membership. There is a difference between loyalty to a union and loyalty to an individual. Unfortunately, the two can become blurred when personalities begin to overshadow the institutions they lead.

These questions matter because workers do not join trade unions to participate in leadership battles. They join because they need protection, representation and a collective voice in workplaces where the balance of power often favours employers.

The world of work is also changing. Automation, outsourcing, insecure employment and technological advancement are reshaping industries and the expectations of employees. Younger workers entering the labour market face challenges that require unions to rethink how they organise, communicate and remain relevant.

For many of these workers, the historical reputation of a union leader may carry less weight than the practical benefits of membership. They want to know whether their union can protect their jobs, negotiate better conditions and respond when they experience unfair treatment. They also want to see opportunities for younger members to participate meaningfully in leadership and decision-making.

This is why leadership renewal should not be viewed as a threat to experienced officials. It should be part of building sustainable organisations. A union that develops capable shop stewards, encourages open debate and allows leadership transitions demonstrates confidence in its own democratic foundations.

Numsa’s difficulties should therefore encourage reflection across the labour movement. Are unions developing the next generation of leaders? Can ordinary members question decisions without fear of victimisation? Are leadership elections genuinely democratic, and do members have sufficient influence over the direction of their organisations?

South Africa still needs strong trade unions. Workplace inequality, exploitation, unfair labour practices and economic insecurity have not disappeared. If anything, changing employment arrangements makes effective collective representation increasingly important.

But trade unions cannot demand accountability from employers while appearing unwilling to confront difficult questions about accountability in their own structures. Their credibility must begin with the democratic principles they expect others to respect.

The real question is not who emerges victorious from Numsa’s leadership contest. It is whether workers will emerge with a stronger voice and greater confidence in the institutions established to represent them. Trade unions belong to workers, not to those who occupy their offices.

• Nkwenkwe, a researcher and author, is a PhD candidate in industrial relations.

Business Day

There is, of course, nothing wrong with political diversity. Nor is there anything inherently suspicious about a party organising transport to rallies, feeding its activists or training aspiring public representatives. Politics requires organisation and sandwiches do not, in themselves, constitute a constitutional crisis.

But there is a more interesting question than how many black faces a party can assemble for a photograph. That question is: does racial diversity in the ranks translate to diversity of thought, genuine participation in decision-making and an equitable distribution of political power?

Here the DA’s elaborate machinery for selecting candidates deserves scrutiny. In August the party announced that its candidate selection process for the local elections had involved seven stages, including screening, assessments, online courses and tests.

In 2024, Helen Zille described an 11-stage process. The DA regards this as evidence of rigour and merit. Fair enough. Nobody wants municipal councillors who cannot distinguish a balance sheet from a shopping list.

Yet a test of competence is not necessarily a test of political conviction, and nor is a test of ideological conformity a guarantee of good government.

What, precisely, are these aspiring representatives being tested on? Their understanding of constitutional government, municipal finance, accountability and the practical business of delivering services? Or their ability to reproduce the party’s preferred answers on economic policy, the state, redistribution and the proper limits of government?

These are not interchangeable things. One tests whether a person can think; the other, whether they have learnt the approved response. Whether they grasp the implications of the approved mantra is another matter.

The distinction matters particularly in a party that presents itself as a home for South Africans of different backgrounds and experiences. If a prospective councillor arrives with a different understanding of poverty, unemployment, land, public services or the consequences of market failure, is that a contribution to be debated or a deviation to be corrected?

The political economy of advancement also deserves examination. For a person with limited resources the opportunity to participate, acquire organisational experience and perhaps secure a paid position can be significant. That is true across political parties.

The question is whether advancement rewards public commitment and independent judgment or depends on mastering the institutional language and ideological preferences of those who control the gates.

In this arrangement the packed lunch is not the scandal. It’s the metaphor. The journey from the bus to the branch, from the branch to the candidate list, and from the candidate list to the council chamber is where the real test lies.

The question is whether advancement rewards public commitment and independent judgment or depends on mastering the institutional language and ideological preferences of those who control the gates.

A party may sincerely believe its economic prescriptions are correct. It is entitled to make that case. But a black activist who repeats those prescriptions is not necessarily evidence that the party has embraced a wider range of political experience. The activist may be a committed liberal, a pragmatic local organiser, a sceptic who has been persuaded by evidence, or simply someone who wants to get on. We should not presume to know which without asking.

Nor should the DA be permitted to settle the argument by pointing to the racial composition of its rallies. A crowd is not a caucus; a membership card is not a measure of influence; and representation is more than the opportunity to stand behind the lectern while somebody else writes the speech.

The proper questions are measurable. Who gets nominated? Who gets elected? Who holds senior organisational positions? Who shapes policy? And can representatives challenge the party line without finding their prospects diminished?

The DA may well have made real strides in broadening its support; its electoral reach is certainly not confined to white voters. But diversity is not simply a matter of who gets on the bus. It is about who gets to drive, who chooses the destination and whether anyone is allowed to question the route.

If the price of the journey is learning to say precisely what the driver wants to hear, the party might consider whether it is cultivating independent public representatives or merely producing well-trained passengers.

• Cachalia, a businessman and management consultant who formerly chaired De Beers Namibia, is a former DA MP and shadow public enterprises minister.

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The leadership of the National Union of Metalworkers of South Africa (Numsa), one of South Africa’s largest unions, is in limbo after regional and national leaders suspended each other in a power struggle over control of the metalworkers’ union.

In scenes reminiscent of the 2021 power struggle between then ANC secretary-general Ace Magashule and party leader Cyril Ramaphosa, when Magashule attempted to suspend Ramaphosa before being suspended himself, Numsa’s national office bearers and regional leaders have suspended each other in less than a week.

The power struggle and counter-suspensions are threatening the credibility of the union, the backbone of the South African Federation of Trade Unions (Saftu).

At its peak before its expulsion from Cosatu in November 2014, Numsa was its largest affiliate with about 360,000 members.

The national office bearers announced last Thursday that their special national executive committee (NEC) had resolved to suspend the regional leaders, who in turn said they had lost confidence in them.

However, the regional leaders announced at a media briefing on Tuesday that their own executive committee, which met on Monday, had resolved to suspend the office bearers on charges of dereliction of duty, conduct bringing the union into disrepute, gross violations of the Numsa constitution and constitutional procedures, and wasteful expenditure.

The regional leaders’ special national executive committee meeting maintained that the central committee meeting of October 23 was “properly constituted and that its decisions remain valid and binding. No court of law has set aside those decisions”.

The central committee meeting resolved to strip the national office bearers, including general secretary Irvin Jim and president Andrew Chirwa, of their powers and replaced them with a task co-ordinating team.

“The special national executive committee expressed serious concern about the conduct of the national office bearers, particularly the failure to respect and implement decisions of the central committee and the resulting disruption to the effective functioning of the union,” the Numsa statement announcing the outcomes of the committee meeting says.

“The executive committee believes that the continued disregard for constitutional decisions, the undermining of elected regional leadership and the emergence of competing centres of authority have contributed significantly to the organisational instability experienced by Numsa.

“After considering these matters, it resolved that the general secretary, comrade Irvin Jim, comrade Mbuso Ngubane and the remaining national office bearers be suspended forthwith from their respective duties, pending investigations into allegations of misconduct, in terms of Chapter 3(c)(v) of the Numsa constitution.”

It said the purpose of these measures was to safeguard the integrity of the union, protect its constitutional structures and ensure accountability for conduct that may have undermined organisational stability and democratic worker control.

“The committee further resolved that suspensions imposed by the national office bearers without proper constitutional authority must be lifted.”

Business Day has reported that the Numsa regional leaders had consented that the powers to suspend or implement disciplinary actions against them rested with the regional executive committee.

This after Jim and Chirwa wrote to the regional leaders on Monday, the day the regional leaders held their special national executive committee, saying the national office bearers remained the legitimate leadership, and called on them to withdraw the notice and cancel the “purported meeting, including any adjournment or reconvening of it; if proceedings have commenced, cease conducting them as a meeting of Numsa’s NEC and refrain from adopting or implementing purported decisions in that capacity”.

The national office bearers held their own special NEC last week where they resolved to suspend the regional leaders who held a central committee meeting and suspended the national office bearers, replacing them with a task co-ordinating team.

Regional leaders from the Eastern Cape, KwaZulu-Natal, JC Bez, Mpumalanga and Sedibeng defied Jim by convening a central committee meeting recently, the highest decision-making body between national congresses. Jim had written to them to say the meeting scheduled for October 23-25 had been cancelled until further notice.

The letter by Jim followed a ruling by labour court judge Edwin Tlhotlhalemaje preventing Numsa and the office-bearers from barring delegates from Mpumalanga from attending, participating and voting at committee meetings.

At the central committee meeting (October 23-25), the regional leaders, including Andile Bloko, Nkosinathi Makhanya and Andile Nqilingwane, resolved to strip the national office of their delegated powers and functions.

“The special national executive recognises that Numsa is confronting a serious organisational challenge that requires decisive, collective and constitutionally grounded intervention. The union’s recovery cannot be achieved through factional manoeuvring, intimidation, the manipulation of constitutional provisions or the undermining of democratically elected structures. It requires honesty, accountability, organisational discipline and respect for the collective decisions of the membership.”

Numsa national spokesperson Mbali Ngwenda has been approached for comment, which will be added once received.

Business Day

Last week’s $6.3bn heist against Binance, the world’s biggest cryptocurrency exchange with enormous financial resources and sophisticated security systems, makes clear the threat is real and increasing rapidly, aided by the use of AI. The likelihood of such an attack knocking on Africa’s door one day is not beyond the realms of possibility.

The KPMG report follows several others highlighting the continent’s vulnerability to cybercrime, including a study by Check Point Software last year which found that cyberattacks on African organisations had surged well above the global average.

This leaves the continent increasingly exposed to sophisticated cybercriminals, including state-sponsored groups and organised criminal networks.

And yet there is not much evidence that African countries, individually or in unity, are sufficiently alive to the dangers.

In South Africa, where the government is grappling with myriad problems, including dysfunctional municipalities that have failed to provide basic services to millions of increasingly angry residents, fortifying the country against cyberattacks appears to rank relatively low among national priorities.

And yet recent global events make clear that increasing our armour against cybercrime deserves significantly more attention.

KPMG’s report coincided with a scramble by companies and governments worldwide, including South Africa’s presidency, to patch critical vulnerabilities in PHP, a widely used programming language, after a cybersecurity firm reported millions of hacking attempts following their disclosure.

Interpol’s 2026 African cyberthreat assessment report says the continent experienced an intensification of cyberthreats driven by rapid digital transformation, persistent capacity deficits, and the increasing exploitation of emerging technologies — particularly AI — last year.

This has created an environment in which criminal actors operate with greater speed, scale and sophistication, often exploiting jurisdictional fragmentation and institutional gaps to evade detection and prosecution.

It says South Africa accounted for 92% of all ransomware detections, with incidents affecting critical infrastructure such as the national weather service and national carrier SAA.

It warns that despite having the most mature regulatory frameworks, including South Africa’s Cybersecurity Act and Mauritius’ Digital Transformation Blueprint, the Southern African region’s institutions remain vulnerable to the speed and scale of AI-enabled attacks.

Binance is still standing after last week’s $6.3bn theft and the billions more that customers have withdrawn since the heist. That amount would be devastating for any African nation, including South Africa.

The amounts that the country is already losing to cybercrime are not to be sniffed at either.

The South African Banking Risk Information Centre’s 2025 annual banking crime statistics report reveals that losses from digital banking crime increased to R2.4bn last year from approximately R1.9bn in 2024.

The Communication Risk Information Centre earlier this year revealed that cybercrimes cost local telecoms operators more than R5bn in 2025.

These rand amounts might seem like small change relative to Binance’s $6.3bn blow, but these are losses an economy like ours, with all its pressing needs, cannot afford to brush aside.

The gravity of the threat requires a co-ordinated public-private sector response, instead of the piecemeal responses that we have seen so far, particularly in the banking sector.

And we certainly need more than the mere 45% of African company executives making the financial sacrifice needed to combat the ever-evolving enemy we face.

Business Day

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The Constitutional Court’s recent ruling in the Salungano Group matter has sparked concern about the future of business rescue in South Africa, particularly the implications for creditors who provide finance to companies after business rescue proceedings have commenced.

The court, in a well-reasoned and well-written judgment, ruled that post-commencement creditors do not have the right to vote on the adoption or rejection of a business rescue plan.

While some have warned that this could have a negative effect on the process of business rescue generally and discourage lenders from providing much-needed funding to financially distressed businesses, I am of the view that these concerns are overstated.

On the contrary, there is far more reason for reassurance than for any concern for the future of business rescue and obtaining post-commencement finance.

Business rescue is here to stay

The reality is that many companies face financial distress, sometimes more than once during their existence. When this happens they generally have three options: face liquidation, enter business rescue or resolve their financial difficulties informally, including through a compromise with creditors. It will pertain to whether or not a lender of monies post the commencement of business rescue can vote on a business rescue plan.

Business rescue has been part of South Africa’s legal and commercial landscape for more than 15 years. It is a well-entrenched and firmly established process that provides for financially distressed companies to restructure their affairs, recover, continue operating (the classic rescue), and failing this, pay a higher dividend to creditors than they would receive on liquidation (known as the alternative rescue).

It will prevail whether or not a post-commencement financier has a vote on the adoption or rejection of a business rescue plan. Certainly, the Constitutional Court’s judgment does not, and will not, change that. I remind all who hold a different view that this is not the first court decision that has caused concern to those involved in Chapter 6 business rescue proceedings, and it will not be the last.

What really matters to post-commencement financiers?

I have yet to encounter a post-commencement financier who provided finance to a company in business rescue and expressed concern about, or even raised the question of, whether or not they would be entitled to vote on the business rescue plan, or agreed to make that loan on condition they can have a vote on the business rescue plan.

I would encourage others working in this field to ask themselves the same question. If their experience mirrors mine, why should the fact that these financiers cannot now vote on a business rescue plan suddenly affect their willingness to advance funding?

Creditors such as banks and financial institutions generally lend money to companies on the strength of security held over the company’s assets. In most cases this security takes the form of mortgage bonds, special notarial bonds or perfected general notarial bonds. It is often these same creditors who advance post-commencement finance to financially distressed companies, with the additional funding secured under their existing arrangements.

Even where the bonds have been fully utilised, these institutions may advance further funding under the additional finance provisions of their bonds. This has certainly been my experience in practice. The decision to provide post-commencement finance is therefore driven primarily by commercial considerations, risk and the security available to the lender (to manage that risk), rather than whether or not a lender has a vote on the business rescue plan.

A positive development for SA business rescue

With an increasing number of foreign investors looking to invest in companies undergoing business rescue, I regard this judgment as good news. It brings South Africa’s approach more closely into line with jurisdictions that are recognised for their well-respected, established restructuring and turnaround frameworks, including the US, UK, Singapore, Japan and India.

Rather than viewing the judgment as a setback, we should recognise that business rescue is and will remain an important and valuable tool used by financially distressed companies to preserve economic activity and for safeguarding employment.

To the gloom-mongers and doomsayers I say, chin up and let’s continue our important work of promoting, growing and turning around financially distressed companies, preserving the jobs that depend on them and, in some cases, creating new employment opportunities. Long live business rescue.

• Strime is joint CEO of Fluxmans Attorneys and head of its business rescue & insolvency department.

Business Day

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Imagine telling a personal finance assistant to protect your savings from a weakening currency. It monitors exchange rates, compares accounts and, with your permission, moves part of your balance into dollar stablecoins.

For you that might look like prudent housekeeping. Across millions of households, similar decisions could become a funding problem for domestic banks. This is a possible next chapter in dollarisation: software making currency substitution a routine financial habit.

The IMF has identified the underlying risks. In August remarks on emerging markets it warned that stablecoins can make foreign currency more accessible and that shifts toward reserve investments abroad can tighten domestic credit conditions. It also noted that AI could accelerate adoption.

The additional hypothesis is about speed and co-ordination. Households already seek dollars when inflation erodes savings or confidence weakens. An authorised agent could lower the effort involved, checking conditions repeatedly and acting within preset limits.

A banking system might consequently face persistent, automated withdrawals without a dramatic queue outside a branch. But the accounting matters.

Buying stablecoins does not automatically destroy bank deposits. If a customer buys tokens from another domestic resident the money may simply move between accounts. Issuer reserves may also remain in banks.

Bank for International Settlements analysis emphasises that the funding consequences depend on reserve composition and how money moves through the system. Retail deposits can become more concentrated wholesale funding, with different costs and stability characteristics.

The concern for emerging markets is sharper when transactions redirect funding abroad or shift deposits away from banks that cannot readily replace them.

Banks under pressure could raise deposit rates, seek alternative funding or adjust lending. Businesses and borrowers might then face higher costs or tighter access to credit, depending on the scale of outflows and policy responses.

A household could protect its purchasing power while its employer finds financing harder to obtain.

AI would not need to cause the original loss of confidence. It could accelerate responses to inflation, depreciation or unattractive deposit returns.

The potential feedback loop deserves attention: automated conversions increase demand for dollars, currency pressure strengthens the case for further conversions, and more agents respond.

That sequence is a scenario, not evidence that an AI-driven bank run is under way. Exchange controls, transaction costs, wallet access and customer permissions could all constrain it.

Nor are stablecoins equivalent to guaranteed dollar deposits. Their value depends on reserve quality, redemption arrangements and intermediaries. Conversion fees can erode savings. Products offering additional yield introduce risks beyond simply holding a dollar-linked token.

An agent comparing headline returns could overlook those differences unless its rules explicitly account for them.

There is also a co-ordination problem. Different assistants may use similar data, providers or financial thresholds. If many users authorise comparable responses, supposedly independent decisions could cluster around the same shock.

For policymakers, blocking a payment technology would not resolve the reasons people want another currency. More credible monetary policy, competitive savings products and dependable domestic payments could reduce that incentive.

The IMF also cautions that clear evidence of stablecoin-related banking disintermediation remains limited and that outcomes differ across countries.

The useful indicators would therefore be verified conversions from domestic deposits, the destination of corresponding funds, changes in bank funding costs and the role of automated instructions.

Token transaction volumes alone cannot establish capital flight. The predictive question is whether saving becomes an always-on optimisation process that domestic banks struggle to retain.

AI could improve household financial decisions while making deposits less predictable. A country’s next funding shock might begin with thousands of reasonable instructions: protect my savings, find a better return, move the money.

• Muchena is founder of Proudly Associated and author of ‘Artificial Intelligence Applied’ and ‘Tokenized Trillions’.

Business Day

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Nepi Rockcastle plans to grow its property portfolio to €12bn-€13bn (about R223.4bn) in the next five years as it steps up acquisitions and expands beyond its traditional central and eastern European markets.

The JSE-listed property group outlined the ambition at its 2026 Capital Markets Day in Warsaw, Poland, where the group set out a growth strategy built around acquisitions, developments, active asset management and renewable energy.

Nepi’s portfolio is valued at €8.4bn, suggesting targeted growth of up to 43%.

The group’s move into Spain takes it beyond its central and eastern European stronghold into a market ranked among Europe’s strongest for consumer spending, broadening its exposure to Western European retail.

CEO Marek Noetzel said the group had spent two decades building a leading retail property platform in Central and Eastern Europe, supported by in-house expertise, relationships with retailers and a disciplined investment approach.

“Our focus remains on acquiring and developing the right assets, creating value through active management and maintaining the financial flexibility to act quickly when attractive opportunities arise,” he said.

The group plans to drive growth through acquisitions and new developments, while extracting more value from its existing shopping centre portfolio, it said.

Over the past five years, it has invested almost €500m in refurbishments, extensions and improving its retail and leisure offerings. The aim is to strengthen dominant shopping centres, attract retailers and respond to changing consumer preferences.

Additionally, the group intends to deploy capital into higher-quality assets and markets with stronger growth prospects, using acquisitions and selective disposals to sharpen its portfolio and improve returns.

The group acquired MegaPark Barakaldo, near Bilbao, Spain, for €252m in August, establishing a foothold in the Iberian market.

It also has identified property development, including extensions and the repositioning of existing centres, as a growth driver, alongside solar energy generation to supplement income and reduce electricity costs across its portfolio.

CFO Eliza Predoiu said the group had raised €3.6bn through diversified funding sources over the past five years, enabling it to finance acquisitions and developments while maintaining its balance sheet.

The group kept its debt levels comfortably below its 35% limit, retaining room to fund further acquisitions while maintaining its investment-grade credit rating.

The group maintains a dividend payout ratio of 90%, balancing shareholder distributions with the need to retain capital for growth.

“We managed to deliver attractive returns to our shareholders while preserving the necessary resources in-house to grow,” Predoiu said.

Competition from online retail up

Nepi Rockcastle’s expansion comes as shopping centre landlords face changing consumer habits and growing competition from online retail.

The group attracted 354-million visitors to its shopping centres in 2025 and employs more than 680 people.

The group’s development pipeline includes projects valued at about €800m, adding to its growth prospects alongside acquisitions and upgrades to existing shopping centres.

While Nepi made inroads into Spain this year, Hammerson has also strengthened its presence in Ireland by acquiring the remaining 50% stake in Ilac Shopping Centre.

Meanwhile, Vukile, which has enjoyed a purple patch in the Iberian market through Castellana and built a strong portfolio through a string of acquisitions, has turned down three European acquisition opportunities this year, as it tests new waters in Italy.

Business Day

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Supermarket Income Reit is returning to the equity market for the second time in four months, seeking to raise £50m (about R1.1bn) to finance a new wave of grocery property acquisitions as it pushes ahead with plans to double its portfolio.

The UK- and JSE-listed group said on Tuesday it had identified six deals involving 12 properties, including convenience stores, supermarkets and a distribution centre. The £65.2m (about R1.5bn) acquisitions will expand its grocery property portfolio and diversify its tenant base.

The latest fundraising comes just four months after the group raised £100m (about R2.3bn) in July, which, with debt, helped finance £222m in grocery property acquisitions in six weeks.

CEO Rob Abraham said the group was proceeding with acquisitions after successfully deploying the previous fundraising.

“Having successfully deployed the proceeds of our July fundraising, we are now capitalising on a further pipeline of high-quality, earnings-enhancing acquisitions,” he said.

Much of the latest deal pipeline is tied to Sainsbury’s, one of the UK’s largest supermarket groups. Supermarket is buying seven convenience stores directly from the retailer in an off-market transaction for £19m. The stores will be secured by new 15-year leases with inflation-linked rental increases, it said.

The group is also acquiring a half-share in a distribution centre in Darlington through a sale-and-leaseback deal with Sainsbury’s. The warehouse is Argos’s principal northern distribution facility and is considered critical to its operations.

Argos will continue using the warehouse, with Sainsbury’s backing the lease. The deal offers the Reit an initial return of 8%, with room to increase rental income over time, it said.

The remaining acquisitions include a grocery-anchored development in Woking let to Waitrose, a Sainsbury’s store in Essex and a Tesco convenience property in Surrey. The Woking property offers scope to renegotiate its expired grocery lease, creating an opportunity for SUPR to improve returns through active asset management.

The acquisitions reflect the group’s strategy of moving beyond traditional large-format supermarkets into smaller convenience stores and logistics facilities, while securing long-term rental income from established grocery operators.

The group owns 140 grocery properties across the UK and France, valued at £2.2bn at end-September. The portfolio generates annual rental income of £144.4m, with 82% of leases linked to inflation.

It expects the acquisitions to lift earnings in the first full year while keeping the impact on its asset value per share small and reducing operating costs, it said.

The group expects its loan-to-value ratio to remain at about 45% after the fundraising and additional borrowing, in line with its maximum target.

Abraham said the acquisitions would diversify the portfolio while supporting its longer-term growth ambitions.

“They represent another important step towards our ambition of doubling the size of the portfolio and delivering long-term returns for shareholders,” he said.

The group said the share issue would include a placing to institutional and qualifying South African investors, while its retail offer would be limited to UK investors.

Business Day

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At its reconvened congress on October 12-14, union federation Cosatu passed a “super” resolution to support both the ANC and the South African Communist Party (SACP) in the local government elections. The federation has committed its enormous organisational infrastructure and mobilisation machinery to give equal support to both alliance partners.

With Cosatu in choppy waters in recent years and its future uncertain, the federation has been rethinking its role in South Africa under an ANC majority government. In its September commission report, Cosatu committed to building the tripartite alliance. Because of the principle of trade union independence, it also sees itself as the leader of civil society.

In the federation’s view it is the centre around which South Africa’s civil society and the mass democratic movement, made up of hundreds of organisations since the 1980s, will eventually gather.

The super resolution is vague about Cosatu’s relationship with the ANC, which takes a dim view of the SACP’s decision to contest the local government elections on its own. The federation’s 15th national congress declaration speaks of a “socialist axis”, signalling Cosatu’s closeness to the SACP, which puts far less weight on its future relationship with the ANC.

This reflects the grievances against the ANC, including its choice of partners in the government of national unity, its approach to the budget and the austerity measures that have come with it in recent years.

Academic writing often points to the differences, and sometimes the contradictions, between political society and civil society. Political society is made up of the parties in the parliamentary system that are directly responsible for running the state. Civil society is made up of the organised groups that sit between the household and the state. The two are in constant tension.

Cosatu places itself in civil society, the space from which it hopes to shape the direction of South African society. In other words, of the three alliance partners it is now the only one that would, at least on paper, stand apart from the trappings of the state. Backing two alliance partners that are now contesting elections separately while holding on to its role as leader of civil society is a minefield.

The resolutions and declaration of the recent congress did not get into the nuts and bolts of how the alliance should work to avoid the problems of recent years, and holding independent organisations to a common programme is a Herculean task. The hope among its leadership is that Cosatu will not overstretch and isolate itself but instead find ways to influence the policies of both the ANC and the SACP.

Backing two alliance partners that are now contesting elections separately while holding on to its role as leader of civil society is a minefield.

The shift in Cosatu’s electoral strategy comes alongside another significant change: the gender profile of its leadership. Women now make up 67% of the national office-bearers committee. This means women will carry the lion’s share of Cosatu’s internal and external work going forward, including policy and research, worker education, organising and affiliate support, and international relations. Does the feminisation of Cosatu’s leadership explain the shift in electoral policy?

The government policies Cosatu most often criticises affect women’s reproductive labour, much of it unpaid, in ways the federation has failed to articulate. Yet women are rising within Cosatu and the wider union movement at a time when society has turned increasingly misogynistic, a sign of regression and paralysis on many levels.

The task facing the new female majority Cosatu leadership is to find new approaches to union organising and worker education, including leadership succession planning, as a key part of revitalising South Africa’s union movement.

• Musi is an independent labour analyst and organisational facilitator.

Throwaway line to get the tourists to return to their hotels? As a way to clear the bar at closing time, it was an unbeatable gambit. But it turns out it was true; our night ended with a pair of elephants strolling down the main drag of Victoria Falls town, past a smart restaurant called Three Monkeys.

And herein lies the essence of Zimbabwe’s bustling tourist mecca. It’s still wild and adventurous, with the charm and excitement of a dusty frontier town, but it’s also developing at a quick gallop.

That quick gallop includes the Mosi-oa-Tunya International Cricket Stadium. It’s still being built and will host four matches in the 2027 Cricket World Cup. The tournament is in October and November; it’s a sweltering time along the Zambezi River, and those lads are going to need their hats and sunblock. But what a place to play — or watch — a game, the crack of a ball on willow, the thunder of the falls and the trumpet of the elephants.

Zimbabwe as a whole is emerging from the woods. Bloomberg recently reported that an economic turnaround was taking hold, quoting David Cowan, Citigroup’s chief Africa economist. Annual inflation, which averaged about 736% in 2024, was expected to drop to 8% this year, and Zimbabwe was expected to achieve a cash budget surplus, Cowan was reported as saying.

And Harare said it was on track to meet the economic goals set by the IMF under the staff-monitored programme struck earlier this year. The 10-month programme was approved in April, and Zimbabwe passed the first review in July.

In September, the central bank cut its benchmark lending rate to 27.5% from 30%, citing relatively stable inflation. That came after a five percentage-point rate cut in June. Annual inflation was 3.7% in September, up from 2.9% in August, the lowest since 1980.

More recently, the Minerals Marketing Corporation of Zimbabwe said in September that mineral export earnings, excluding gold and silver, more than doubled to $4.735bn in the first nine months of the year, driven by lithium and stronger commodity prices. Mineral export volumes increased by 23.4% to 4.738-million tonnes.

Signs of growth are all over Vic Falls. Driving into town from the airport, we passed a new skate park, with cool young things effortlessly showing off their skills. Surfing — yes, surfing, alongside crocs — the rapids of the Zambezi River is also luring fearless folk. Check out Sam Bradford on Instagram for some maniac activities.

The town wears its title of Africa’s adrenaline capital well.

And it’s adding good food and excellent vibes to the menu of things to do. Goat (previously Mama Africa Restaurant) is a surf-shack-style hangout that features live bands and serves excellent coffee from Victoria Falls Coffee Company, with which it shares space. The company roasts its own beans. Its signature is Ngwenya, a single-origin Zimbabwe coffee that comes from a small estate in Chipinge, in the Eastern Highlands.

Goat is a celebration of the “daring men and women [who] pioneered the [Zambezi] rapids with their rafting and kayaking skills, from the original daredevils to the present-day guides”. Décor includes grand photos of the surfers and kayakers, and barbershop posters. Foodwise, expect a fusion of Western and African cuisines.

Other things we saw that are worth a visit: the aforementioned Three Monkeys restaurant and The Smokehouse, where we had our nightcaps and which serves The River Brewing Co beers. Try a River Lager, a light lager made with baobab fruit. For the less beer-venturous, Zambezi lager is Zim in a glass. For gin, head to the nearby Victoria Falls Distillery. It has a slick big-city wine bar feel and serves charcuterie and cheese boards.

Shopping must be done in the Elephant Walk, which we did, followed by a wander through the sculptors’ market. Just a wander for us, mind you: it’s not cheap, and everything is priced in dollars.

For entertainment, you can see a high-energy production of Simunye: The Spirit of Africa. We ventured to The Boma — Dinner & Drum Show at Victoria Falls Safari Collection. A fabulous evening all round, and easy to roll home to our sumptuous villa at Albida, on the estate. With sore hands, we drummed our full hearts out.

Victoria Falls town was once a single-attraction stopover: arrive, see the falls, have a meal and leave the next day. But it has become, and is still expanding into, a top-drawer, multiday destination. There are good restaurants, boutique hotels, art spaces and safari-style lodges.

“We’ve witnessed a complete evolution in how people experience Victoria Falls,” agrees Anald Musonza, sales and marketing director of Victoria Falls Safari Collection. “There’s been incredible investment in the town’s infrastructure, culinary scene and bespoke accommodations. The sheer variety of experiences — from river cruises and canopy tours to cultural experiences such as our own Boma Dinner & Drum Show and MaKuwa-Kuwa Restaurant — means you simply can’t do it justice in 24 hours.”

Victoria Falls town was once a single-attraction stopover: arrive, see the falls, have a meal and leave the next day. But it has become, and is still expanding into, a top-drawer, multiday destination.

There’s an estimated 4,000-4,500 beds in the town, ranging from the larger legacy hotels to intimate boutique lodges, luxury tented camps and self-catering villas. “It points to a major diversification of the market,” says Musonza.

Historically, the average length of stay in Vic Falls hovered around two nights, “but we are now seeing that stretch to three or four nights for leisure travellers as the destination’s offerings have expanded”.

When it comes to those offerings, the falls and the rainforest are the undisputed crown jewels, but sunset river cruises, helicopter flights and cultural dining experiences follow closely behind, he says. There’s also kayaking, river rafting, bungee jumping …

Then there are the national parks and the private game reserves. We did a day trip to Chobe National Park in Botswana (it’s just 85km away), with a river cruise, lunch and a game drive, and plenty of pachyderms to fill our camera roll.

We also visited Stanley and Livingstone Game Reserve to see the black rhino. A game drive in Zambezi National Park may bring lion, buffalo, giraffe and antelope.

Victoria Falls Safari Collection opened its luxury offering, Albida, in September “to answer a very specific, growing demand for luxury and absolute privacy … We recognised a gap in the market for a truly intimate, high-end retreat,” says Musonza.

There are only 13 private villas, set in the woodland, each with their own plunge pool and views onto Zambezi National Park. It’s all about space, privacy and being part of nature. Albida is a fully all-inclusive offering: your activities are included in the price, including a Flight of Angels helicopter flip and daily spa visits. No pain, no fussing with extras. It also features a butler service and bespoke itineraries for each guest. And really good food, too.

• The writer was hosted by Victoria Falls Safari Collection.

Business Day

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A recent article on Henry Jeffreys’ Substack account attempted to make a case for the proposition that grape varieties are an imperfect way of classifying wine. That is nothing short of apostasy in new world wine-producing countries, but it’s the superhighway to heaven as far as the French are concerned.

Part of what led Jeffreys to this heresy was a tasting with Hazendal’s Kiara Scott Farmer in London. In the course of the evening he sampled some excellent but atypical wines she had made: a sauvignon blanc and a Pinotage-carignan combo. She explained she had chosen an unconventional approach to their vinification because the way they typically emerge from conventional processing doesn’t appeal to her.

Scott Farmer’s Hazendal wines inspired Jeffreys to suggest that “the distinctive character of grapes owes as much to how and where they are grown and what happens in the winery as to the unique character of the grape itself.”

This is slightly different from arguing why Mosel rieslings taste different from those grown in Alsace or Eden Valley and closer to one explaining why barrel-matured sauvignon blanc from Bordeaux is unrecognisably different from an unoaked bottling from New Zealand’s South Island.

Siblings, not twins

A recent vertical tasting of the last 10 vintages (2016-2025) of Beaumont’s Hope Marguerite left me pondering about how factors other than site affect the final wine.

Beaumont Family Vineyards, established by Raoul and Jayne Beaumont in Bot River in the 1970s, has been producing Hope Marguerite since 1996 — initially from a single block, then later with fruit from a second, comparably well-established vineyard. So Hope Marguerite is not strictly “single vineyard” wine, though the two blocks are close enough to each other and are farmed by the same team in the same way: they are siblings, just not Siamese twins.

Given the authenticity of the site, the same winemaker — Sebastian Beaumont, whose mantra is “elegance over power” — and the same viticultural practices for the past decade, it would be safe to assume that the different vintages of Hope Marguerite would bear more than a passing resemblance to each other.

Winemaking is the art of the possible: ideally it should incorporate annual climate differences. The cellar regime was largely the same, except for a new press in 2020. Beaumont would have a conception of how his wine should look and would plan the timing of the harvest with a view to getting the best approximation of that result.

Nuances

Only — admittedly to my palate — it’s not how it turned out. While most of my tasting notes include words like “limey” and “tight” — the former a reflection of where on the ripeness spectrum the grapes were harvested, the latter a reflection of the winemaker’s chosen style — there are many, often different, nuances to each wine.

The 2016 was evolved, almost earthy, plush and generous. The 2017 was austere, tangy, still restrained. The 2018 was equally spartan, but it was a victim of the worst year of the drought. The 2019 appeared riper and more generous, the higher sugar hidden by the higher acidity. The 2020 (and the more recent vintages) were creamier, which Sebastian Beaumont attributes to the benefits of the new press. The 2023 is simply splendid, the 2025 (just released) is supple and seductive but years off its peak.

Over the decade the alcohol levels have ranged from 12.5% to 13.5%, the residual sugar from 2.4g/l to 8.3g/l. Contrary to what Jeffreys is suggesting, the most obvious common factor is the Chenin Blanc; the second is Sebastian Beaumont’s careful engagement with the impact of Bot River’s climate to obtain wines that are restrained but not flimsy.

However, except for the contribution of the age of the vineyards (planted in 1974 and 1978), I’m not sure there’s an identifiable presence of site in the wines. I can see the artist’s vision in the painting. His presence is evident in the colours and the brushstrokes; it’s not always in the image on the canvas.

Business Day

The group, which operates schools in South Africa, Kenya, Botswana, Ghana and Ethiopia, has identified further expansion of Rosebank International into African markets as one of its strategic priorities.

CEO Geoff Whyte said in a capital markets day presentation that the group would prioritise countries where AdvTech already operates as it seeks to grow its international schools business.

The strategy includes expanding its existing schools, increasing student capacity and developing its tertiary operations in markets outside South Africa.

AdvTech entered Ethiopia in 2024 through the acquisition of Flipper International School, which operates five schools in Addis Ababa. The schools have about 3,000 students and 450.

The group said the acquisition was a “good fit with [our] existing mid-fee African model”, which focuses on providing education at prices below those charged by premium private schools.

Expansion projects

AdvTech has since increased capacity at Flipper’s Lancia campus through relocation, adding space for 450 more students. It is also introducing its technology and teaching systems across the schools.

In Kenya, the group is expanding its Makini school network, which it bought in September 2025. Student numbers at Makini Runda have increased from 1,160 at the time of acquisition to 1,470.

AdvTech is undertaking a redevelopment project at the school that will increase its capacity to 3,150 students. The work includes additional classrooms, computer and science laboratories, robotics facilities, libraries and sports facilities.

The group is also expanding Makini Statehouse, where renovations are under way to increase capacity from 280 to 575 students. The project is expected to be completed in January next year.

Its existing Crawford International School in Nairobi has also been expanded, from 900 to 1,300 students in 2025.

AdvTech’s tertiary expansion is another part of its African growth plans.

Rosebank International University College in Ghana opened in January this year, marking the group’s entry into the country’s tertiary education market. The institution has capacity for 350 students, with plans to accommodate up to 900.

Enrolments ‘running ahead’

AdvTech said enrolments at the institution were “running ahead of business case” during its first year of operation.

Additional facilities and classroom space are being added to meet demand. The group has also set a target of achieving full university status for the Ghanaian institution in 2027.

Beyond expanding physical campuses, AdvTech plans to take its distance learning offering into other African markets from Ghana.

The group has been growing its online tertiary qualifications in South Africa and says its next strategy includes using its Ghana operation as a base for expansion into other African countries.

Its longer-term priorities also include expanding Rosebank International into new African markets, while continuing to add schools in countries where it already operates.

The expansion comes as AdvTech continues to increase the proportion of its business generated by education. In its 2026 half-year breakdown, education accounted for 87% of group revenue and 96% of operating profit, compared with 81% and 94%, respectively, in 2024.

The group’s international schools operations contributed 6% of revenue and 8% of operating profit in the first half of 2026.

Business Day

Americans headed to the polls in Tuesday’s midterm elections to deliver a verdict on the first two years of President Donald Trump’s second term, with surveys and nonpartisan analysts favouring Democrats to wrest the House of Representatives from Republicans while control of the Senate remains uncertain.

The battle for the Senate is unfolding across nearly 10 closely contested statewide races, most in Republican strongholds.

History is against Trump’s Republicans: the sitting president’s party has lost ground in Congress in all but two midterm elections since World War 2. Trump’s approval rating is hovering near his all-time lows, dragged down by deep voter frustration over the war with Iran and the resulting rise in fuel prices.

There is little doubt this year’s election is all about Trump, the central US political figure for most of the last decade. Trump himself has told his supporters repeatedly to “pretend I’m on the ballot”, a message Democratic leaders have happily echoed.

In a television interview on Tuesday morning, he boasted of what he billed as his achievements in Venezuela and Iran and declared optimism for fellow Republicans in an election he has said should be treated as if he were on the ballot himself.

“I think the results are going to be better than you think,” he told Fox News, adding that he would be watching the results come in later on Tuesday night at the White House, where he is hosting a viewing reception.

In remarks that appeared aimed at swaying largely Democratic-leaning voters unhappy with US support for Israel, Trump said that Washington would stop $4bn in annual funding to Israel after the end of this year.

US policy toward Israel has been a particular focus in Michigan, where progressive Democrat Abdul El-Sayed is running a closely watched campaign for the Senate.

The president has sought to energise his base with more than two dozen campaign rallies since the start of October, the vast majority in states he easily won in 2024, underscoring the extent to which Republicans are playing defence.

Led by Trump, Republicans have portrayed Democratic candidates as radical, un-American and even communist.

“The Democrat Party has nominated the most extreme and dangerous slate of candidates in American history,” Trump said on Monday during a speech in Washington.

But opinion polls show voters are most concerned about affordability and disapprove of Trump’s handling of the issue after his sweeping tariff policy and his decision to attack Iran in February increased domestic costs. Republican candidates, meanwhile, have struggled to distance themselves from a president who demands fealty and rarely acknowledges mistakes.

All 435 seats in the US House of Representatives are up for election, along with 35 of the Senate’s 100 seats, though the majority of contests are not considered competitive. Democrats must flip at least three House seats and four Senate seats to win a majority in each chamber.

They have little margin for error. The party must defend all of its current seats while winning at least two states that voted for Trump by a double-digit margin two years ago: Alaska, Iowa, Kansas, Nebraska, Ohio, South Carolina and Texas.

Opinion polls show Democrats either narrowly leading or within striking distance in all of those states.

Michigan test

The Michigan Senate contest between El-Sayed, 42, and Republican former US Representative Mike Rogers, 63, received a fresh jolt on Sunday when Democrat Haley Stevens, who narrowly lost to El-Sayed in the party’s primary election, endorsed Rogers in a surprise reversal.

In addition to the implications for Senate control, the Michigan race represents a high-profile test of whether Republicans’ identity-based attacks – El-Sayed would be the nation’s first Muslim senator — prove effective in a battleground state.

A win for El-Sayed, who has criticised Israel and supports liberal policies such as universal healthcare, would also be seen as a boost for the party’s left wing ahead of the 2028 presidential election.

The Alaska Senate race has been caught up in its own turmoil after the New York Times reported that the campaign of Democratic candidate Mary Peltola, 53, helped recruit a third candidate who shares the first and last name of her Republican opponent, Dan Sullivan, 61.

Peltola has denied involvement. Trump’s justice department has launched a criminal investigation into the allegations and filed a lawsuit to block certification of the election results, though a judge dismissed the latter effort.

In Texas, Democratic Senate candidate James Talarico, 37, has his party once again dreaming of winning the biggest Republican state after decades of heartbreak. His scandal-plagued opponent, Texas attorney-general Ken Paxton, 63, has benefited from a nine-figure investment from the world’s richest man, Elon Musk, who has spent hundreds of millions of dollars boosting Republicans.

In Kansas, Democrat Adam Hamilton, 62, a megachurch pastor, holds a narrow polling lead over Republican Senator Roger Marshall, 66. The state voted for Trump by more than 16 percentage points in 2024 and has not elected a Democratic senator in nearly a century.

And in Maine, Republican Senator Susan Collins, 73, is once again seeking to defy the Democratic leanings of her home state and win a sixth term. She faces Democrat Troy Jackson, 58, a former state senate president who unexpectedly became the nominee after Democratic oyster farmer Graham Platner dropped out amid accusations of misconduct, which he has denied.

Other competitive Senate races are taking place in Iowa, Nebraska, Ohio and South Carolina, all Republican-held seats.

Justice department intervenes

The justice department said on Tuesday it was deploying 1,000 election monitors and observers to all 50 states in what it called the largest election day monitoring effort in history.

Department officials have said priorities include areas with a history of voter access issues and places with competitive races that could be targets of ​voter intimidation.

There are 47 US House races widely seen as competitive, according to a Reuters analysis of the leading election forecasters. If the other contests all proceed as predicted, Democrats would need to win only 13 of the competitive races to secure a majority.

The fight for the House has been waged largely on Republican turf, including some districts Trump carried by double digits in 2024. A Trump-backed Republican effort to redraw districts in several states to make them safer for the party appears not to have yielded the gains the White House expected.

Democrats have warned that Trump, who has long falsely claimed that US elections are rigged, may attempt to challenge Tuesday’s results if Republicans lose.

In addition to its actions in Alaska, the justice department also filed a lawsuit in California to block ballots it says may be invalid, a break from decades of practice meant to insulate elections from political influence. The Supreme Court on Monday rejected the administration’s request for an emergency order in the case.

Three dozen governors’ races will also take place on Tuesday, as well as thousands of state-level legislative contests and ballot measures on issues from a tax on billionaires to abortion rights.

Reuters

Phosa, an ANC heavyweight and former Mpumalanga premier, was speaking at the Future of Law Conference hosted by LexisNexis in Sandton, Johannesburg. Among other things, it was looking into the AI phenomenon in the legal and justice sector.

There have been two judgments delivered recently in Gauteng and KwaZulu-Natal in which lawyers cited fake case law. Judges have reported legal practitioners for using AI without disclosing it in court to the Legal Practice Council (LPC) for essentially misleading the court by citing cases that do not exist.

Phosa said the legal fraternity cannot avoid AI, and it has been already used in the profession. “Technology can now produce legal arguments in seconds, analyse complex contracts and process information on a scale previously unimaginable,” he said.

WATCH | Attorney Mathews Phosa warns of 'dangerous' AI hallucinations in courts papers while addressing Future of Law LexisNexis conference in Johannesburg. @Sinesipho_LR https://t.co/pTbxE16hNq

— Business Day (@BDliveSA) November 3, 2026

The government has been grappling with regulating the use of AI, and there is a judicial committee that is looking into a policy to regulate how judges can use AI. This year, judge Ingrid Opperman delivered a judgment about an acting judge who cited non-existent law or incorrect cases, suggesting AI use was a key factor.

Phosa said responsible use of AI is important to lawyers so as not to put their careers on the risk.

Speaking to Business Day after his presentation Phosa said: “If you quote case law that does not exist, you make a statement knowing it is not true as a lawyer, you must be reported to the LPC and charged for unethical conduct.

“There has been an invention of case law that does not exist. That is dangerous.”

Citing non-existent case law can be problematic, particularly when judgments have to be delivered urgently. In existing cases in South Africa in which lawyers used non-existent case law, judges were able to pick up the discrepancies when writing judgements.

“How do you convince a judge with a lie? They are going to check; you will be exposed for the lack of professional ethics. You carry the responsibility that your whole profession may be on the line if you deviate from responsibility and integrity,” he said.

“Lawyers and all of us must just accept that AI is a tool that is imperfect. If we accept those premises, everything that comes out, you need to check it.”

As the government grapples with the regulation of the use of AI, legal bodies such as the LPC and Black Lawyers Association (BLA) have also warned about the reckless use of AI.

Phosa said that with the development of AI, regulation needed to look into protecting confidential information.

“South Africa’s legislative framework, including the Protection of Personal Information Act and the Cybercrimes Act, provides important safeguards. Government, business leaders and legal professionals must ensure that technology is governed responsibly, that information is secure and that citizens have meaningful avenues to challenge unlawful or unfair decisions.”

Africa needed to lead the development of AI tools and not just be consumers in global technology development, he said.

“Africa must not remain a passive recipient of technologies. China is producing AI at a speed we cannot calculate. America is doing the same thing with six companies. Africa must generate AI sovereignty.”

South African universities have been developing different AI tools.

Business Day

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Petrol prices will remain at historical highs this month as global oil prices stay elevated, while diesel will cost up to R1.20 a litre less from Wednesday as a temporary general fuel levy cut announced in the medium-term budget cushions the impact of the US-Iran war.

South Africa is a net importer of crude oil and finished petroleum products and has felt the effect of global oil supply constraints as the nine-month Iran-Iraq conflict has disrupted flows through the strategic Strait of Hormuz.

Both 93-grade and 95-grade unleaded petrol will dip by just 1c a litre at the pump, but the wholesale price of diesel, which is not regulated at the retail level, falls by R1.10 for the 0.05% sulphur grade and R1.20 for the 0.005% sulphur grade, the department of mineral & petroleum resources said in a statement on Tuesday.

Domestic fuel prices lag behind international movements by about a month, based on the cost of importing the products over the preceding 30 days, calculated by the state Central Energy Fund (CEF).

The department said that during the period under review, the average Brent crude oil price increased from $101 to $108 a barrel due to uncertainty caused by the conflict, including attacks on Saudi Arabian infrastructure, as well as high freight and insurance costs caused by ship-to-ship transfers.

“The average international product prices of petrol, diesel and illuminating paraffin increased during the period under review. Middle distillate prices are mainly affected by tight global supply, higher seasonal demand ahead of the winter in the northern hemisphere and the continued Russia/Ukraine conflict,” it said.

The rand depreciated, on average, against the dollar, leading to higher contributions to the basic fuel prices of petrol, diesel and illuminating paraffin by 36.93c a litre, 49c and 49.26c, respectively.

In his medium-term budget policy statement to parliament on October 21, finance minister Enoch Godongwana announced that the general fuel levy, one of several that are built into fuel prices, would be reduced by R3 a litre for diesel and R1.50 a litre for petrol from November 4 until December 1. Thereafter, the relief will continue at a lower amount until January 5, with the diesel levy reduced by R1.50 a litre and the petrol levy by R1 a litre.

For this, the National Treasury has set aside R10bn, adding to the R17.2bn it forfeited in revenue through a similar measure between April and June.

The general fuel levy reprieve will this month be diluted by an increase in the slate levy, a variable charge added to the price of petrol and diesel to recover shortfalls in the slate fund, which the government uses to refund licensed fuel importers for the financial difference between what they actually pay for fuel on global markets and the regulated price at which they have to sell it locally.

The department of mineral & petroleum resources said the combined cumulative petrol and diesel slate balances at the end of September amounted to a negative balance of R15.88bn.

“In line with the provisions of the self-adjusting slate levy mechanism, a slate levy of 135.84c/l will be implemented into the price structures of petrol and diesel. The increase on the slate levy will be from 87.66c to 135.84c, resulting in an increase of 48.18 c/l in the price structure of petrol and diesel,” it said.

Despite the latest general fuel levy concession, the latest fuel price adjustment still leaves the price of petrol more than 48% higher at R30.24 a litre in Gauteng than it was before the Middle East war made its impact felt, while the wholesale cost of diesel has soared over 66% to R30.86, according to CEF data.

Business Day

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By Agency Staff

Unilever will overhaul its operating model and cut €1bn in costs by end-2029, it said on Tuesday, as it sharpens its focus on home and personal care after splitting off its food business.

The consumer goods conglomerate has been simplifying its portfolio under CEO Fernando Fernandez, who was promoted to the top job from finance chief last year, to focus on beauty and personal care instead of its slow-growing food business.

Fernandez spun off the ice-cream business last year and in March agreed a deal to merge Unilever’s food division with US spice maker McCormick, expected to be completed by mid-2027.

The savings, to be delivered through organisational simplification, process redesign and technology initiatives, will address costs rising from that deal. Unilever in March said it was expecting €400m-€500m of stranded costs.

“That leaves an additional €500m to be put to work,” said Will James, portfolio manager at Unilever investor Guinness Global Investors. “If you assume that (€500m) drops through straight to the bottom line … that’s probably another 50 basis points on future margins, which is helpful.”

The new operating model, which Unilever will implement progressively during 2027, will cluster the company’s markets into six performance units led by regional presidents, with full profit-and-loss accountability.

The owner of brands including Dove soap, Vaseline, Persil and Hellmann’s mayonnaise said it would then report across three categories — beauty & personal care, home care, and other.

Unilever’s shares, which are up marginally year-to-date, were down 0.9%.

Unilever reaffirmed its medium-term targets of 4%-6% annual underlying sales growth by value, with volume growth of at least 2%, and said it expected to perform in line with that algorithm in 2027.

Unilever is probably being conservative and prudent, said James, adding he expected the company to “put a bit more meat on the bones” at an investor day on Wednesday.

Last week, Unilever reported underlying sales growth ahead of market estimates, driven by higher volumes but warned of price hikes due to a surge in costs linked to the Iran war.

“The key tomorrow is proving recent HPC [home & personal care] momentum is repeatable and broad-based, and laying out the building blocks for post-foods earnings,” Barclays said in a note, adding that the savings programme was another positive.

Reuters

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Former Lotto operator Ithuba says it is meeting with its legal team after winning its legal challenge on the government’s decision to award the National Lottery licence to Sizekhaya Holdings.

The Pretoria high court voided the deal and referred the awarding of the licence back to trade, industry and competition minister Parks Tau for reconsideration.

The declaration of invalidity has been suspended for two consecutive periods of six months:

• The first period affords the minister an opportunity to reconsider and decide on the awarding of the licence.
• The second period allows for the negotiation and conclusion of a new licence agreement and, should the licence not be awarded to Sizekhaya, the implementation of appropriate transitional arrangements.

Tau announced the award of the eight-year lottery licence to Sizekhaya Holdings in May 2025. The decision was challenged by the EFF and losing bidders Ringeta and Ithuba.

Ringeta was chosen as the initial preferred bidder by an evaluation committee, a decision that was tossed out by the ministerial committee appointed by Tau to evaluate the bid. The committee recommended Sizekhaya, with Ithuba the reserve bidder.

Ithuba, which had operated the national lottery as the third licence holder since June 2015, went to court to block the decision, arguing the minister’s reasons for awarding the licence to Sizekhaya, and his “record of decision”, had revealed irregularities.

Ithuba welcomed the high court ruling. “The judgment vindicates our stance that the appointment of the South African National Lottery operator must be guided by the principles of fairness, transparency and accountability and must comply with the applicable legal and regulatory framework,” the company said.

“Ithuba Lottery is reviewing the judgment with its legal representatives to consider its implications and the appropriate next steps.”

TimesLIVE

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South Africa is preparing targeted support for companies that stand to lose preferential access to the US market after the Trump administration announced plans to withdraw the country’s benefits under the African Growth and Opportunity Act (Agoa) from January 2027.

In a letter to President Cyril Ramaphosa dated October 28, US President Donald Trump gave 60 days’ advance notice, as Agoa requires, that he intends to terminate South Africa’s designation as a beneficiary sub-Saharan African country effective January 1 2027.

The letter said Trump had determined that Pretoria has not established, or is not making continual progress toward establishing, a system to combat corruption and bribery or eliminate barriers to US trade and investment, as required by section 104 of the act. It also cited certain actions by the South African government on international security and its cooperation with governments of concern to Washington, which it said risk undermining US national security and foreign policy.

Trump pointed in particular to what he described as significant tariff and non-tariff barriers, including those involving agricultural market access, regulatory requirements, investment protections and intellectual property. He said he would keep monitoring whether South Africa makes progress and expressed hope that it could once again become eligible for Agoa benefits.

The South African government has established an expert support desk to assess the exposure of individual companies and determine what assistance may be required, as it seeks to limit the impact on exporters, workers and industries linked to trade with the US.

Trade, industry and competition minister Parks Tau said the government had engaged directly with companies that could be negatively affected, but that the consequences would differ across sectors and businesses.

“We’ve established an expert support desk that looks at different companies. We’ve engaged with individual companies that could be impacted negatively,” Tau said in an interview.

“Others would still be able to have access to market. Others need to diversify, so the interventions would be different for the respective companies.”

Trade minister, @TauParks He spoke on the way forward with AGOA as well as a member on ANC’s coalition team that will report to the party’s secretary general post Wednesday’s municipal elections @BDliveSA pic.twitter.com/2txQda0Y5w

— Thando Maeko (@HelloThando) November 2, 2026

The government said it had proactively retained measures introduced in response to US reciprocal tariffs and would continue providing support on a company-by-company basis.

The withdrawal puts a range of South African export industries at risk, including automotive manufacturing, ferroalloys, jewellery, agriculture, chemicals and marine manufacturing. Automotive exports have historically been the largest category, accounting for 41.2% of South Africa’s Agoa exports in 2022. Citrus, nuts and wine have also benefited from preferential access.

In a statement on Monday, the government said it recognised the concern the US decision would create for businesses and communities linked to Agoa-supported value chains. It expressed frustration with the direction of negotiations, saying Pretoria had made extensive efforts to address Washington’s concerns and tabled concessions beyond those agreed in 2015.

The proposals had been submitted through appropriate channels and were designed to respect domestic due process, protect South Africa’s biosecurity and constitutional requirements, and comply with World Trade Organisation rules.

“It is, however, unfortunate that the US is now raising new issues that have not been the basis for discussions as part of the negotiations process that commenced in 2025,” the statement said.

Tau said some of the outstanding trade issues related to sanitary and phytosanitary requirements governing imports of pork and poultry, an area that touches on the agricultural market access concerns raised in the letter. South Africa had made proposals on how to address US concerns while protecting its agricultural sector against the introduction of animal diseases.

He said the government could not arbitrarily change tariffs or make trade concessions without following the required legal and regulatory processes, including investigations by the International Trade Administration Commission where necessary.

The minister also criticised lobbying by Solidarity and other groups in the US, saying their efforts had undermined bilateral engagements.

“We find it unfortunate that there are parties that have left the country, including Solidarity and others that have gone there to campaign negatively against the country,” Tau said.

The government sought to put the withdrawal in perspective, noting that about 89% of South African exports to the US entered under ordinary WTO most-favoured-nation terms in 2025, while about 10% entered under Agoa, down from 28% in 2024. Agoa exports fell to about $1.7bn from $4bn, about 1% of South Africa’s total global exports.

Bilateral trade reached $28.8bn in 2025, and more than 600 American companies operate in South Africa, supporting about 134,600 jobs, the government said. It warned the withdrawal could disrupt value chains, including in automotive and boat manufacturing, where South African producers source inputs from the US.

Business Day

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Township retail specialist Exemplar REITail has lifted its interim distribution by 6.7% for the six months to August, as acquisitions and resilient trading strengthened its performance.

The group has also enhanced the payout with the addition of Leratong City Mall to its management portfolio, taking responsibility for the major retail component of the planned R5bn Leratong Smart City development in Kagiso, Mogale City.

Net property income grew to R533.9m, while rental and recovery income increased to R840.6m, however headline earnings per share decreased to 68.39c.

Meanwhile, the acquisitions of Vosloorus Crossing in Gauteng and Steelpoort Retail Precinct in Mpumalanga expanded the group’s gross lettable area to 501,606m².

The group now has 776,852m² of retail space under management, equivalent to about 78 hectares, which gives it a larger foothold in the township and rural retail market.

Trading conditions remained firm, with vacancies stable at 2.6% and anchor tenant trading densities rising 2.5%. This performance came alongside a 15.1% increase in property operating costs, which outpaced growth in rental and recovery income.

Its loan-to-value ratio stands at 38%.

The group is betting on further growth from its development pipeline. Ntuzuma Mall and KwaMashu Place are expected to open in March next year, while an expansion of Steelpoort Retail Precinct is scheduled for 2028.

“Anchor tenant trading densities rose by about 2.5%, outpacing food inflation of 1%. However, growth has slowed as higher diesel prices push consumers to shop closer to home rather than travel to larger malls,” the group said.

It reaffirmed its guidance for distribution per share growth of 9%-11% in the 2027 financial year, signalling confidence that its expanding township retail footprint will continue to support shareholder returns.

Leratong City Mall, which opened last week, is positioned to benefit from increased foot traffic as the surrounding area develops, with Gauteng MEC for human settlements Tasneem Motara announcing plans to deliver 3,500 homes by end- 2027.

The mall’s opening follows years of planning and anticipation, with the project recorded as a development initiative in 2010.

“Leratong City is a beast. We had just shy of 70,000 people walk through its doors on the Thursday it opened. It is a significant development, not only for our portfolio but also for the broader township retail landscape,” said Exemplar CEO Jason McCormick.

McCormick told Business Day that resilient performance and consistent trading growth are driving appetite in the township retail market, and Exemplar serves as a proxy for the broader township retail market.

He noted that population growth, backyard accommodation, and the cash economy, particularly in metro areas such as Gauteng, contributed to the positive performance of township retail.

“I would not hesitate to say that we have some really strong township assets in our portfolio because we have been cherry-picking the best sites for decades. But stronger growth rates have certainly made people sit up, take notice and listen,” he said.

Banks are throwing their weight behind township retail, with Nedbank CIB Property Finance providing R573m in funding for Leratong City Mall.

“Our investment is in the shopping centre, which we believe has sound commercial fundamentals and an important role to play in supporting retail investment and economic activity in Kagiso,” said Nedbank corporate property finance executive Ricardo Chadinha.

“As a major retail destination, the mall will improve access to goods and services, support local businesses and contribute to job creation during both construction and operations.”

Leratong City became the first township shopping centre in South Africa to receive preliminary Edge advanced certification in September.

The certification recognises the mall’s energy and water efficiency standards, with Nedbank involved in identifying measures to improve resource use.

Business Day

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By Alicja Surdy, Anna Koper, Anna Wlodarczak-Semczuk and Joanna Plucińska

At least seven flights and a cruise ship in Europe received bomb threats on Tuesday, causing disruption at airports though no devices were discovered.

At least two flights to Warsaw, two to Sofia, two to Rome and one to Murcia airport in Spain were subjected to the threats on Tuesday, and another flight to Sofia had been threatened a day earlier.

An airport in Warsaw was briefly shut and the Italian Air Force accompanied one of the flights to Rome while an Israel-bound cruise ship was searched for bombs in Greece.

There was no claim of responsibility and officials did not attribute blame. None of the affected airlines responded to requests for comment.

Rhys Jones, analysis output manager at aviation risk advisory firm Osprey Flight Solutions, said that seven confirmed bomb threats in a single day affecting flights was exceptional.

“The lack of clear target state, airline, or route indicates that general disruption to aviation operations is the aim,” Jones said.

Authorities diverted a LOT flight from London that was meant to land at Warsaw’s Chopin airport to nearby Modlin airport, which was closed and then reopened after the plane was searched and no device was found.

Another Warsaw-bound flight, an SAS flight from Copenhagen, landed at Chopin as scheduled. Chopin airport said no device was found and the airport remained operational.

Two flights to Sofia threatened

Bomb threats were made against aircraft travelling from Milan/Bergamo and Dublin to Sofia, Bulgaria’s transport ministry said in a statement. Both landed safely and no explosive devices were found on inspection.

The Bergamo flight was operated by Wizz Air and was carrying 176 passengers, the statement said. The Dublin flight, operated by Ryanair, had 186 passengers on board.

Bulgarian news agency BTA had earlier quoted an interior ministry official as saying a flight from Israel had been affected, but authorities later said it was not the case.

A day earlier, a Wizz Air flight from London to Sofia was diverted to Budapest airport after receiving a bomb threat, Hungarian defence minister Romulusz Ruszin-Szendi said in a Facebook post.

In Murcia in southeastern Spain, parts of an airport were cordoned off on Tuesday after a bomb threat was reported on a Ryanair flight from Manchester.

Officials said the report proved to be a hoax, and the airport resumed normal operations after authorities found no explosives on board. Ryanair declined to immediately comment.

Two other Ryanair flights — one from Lisbon and another from Dublin — were searched at Rome’s Fiumicino airport following bomb threats, said a source from airport operator ADR. The Dublin flight was escorted by the Italian Air Force until it landed.

The alert was cleared and the airport continued to operate as usual with no effects on other flights, the person said.

An explosives detection dog and a diver searched the Panama-flagged Crown Iris cruise ship on the Greek island of Syros after an unknown person said an explosive device had been attached to the boat’s hull, authorities said.

Initial checks found no explosive device with coast guard specialists expected to carry out further inspections before the ship could resume its voyage.

While no country pointed fingers over the bomb threats, they come while European officials have been blaming Russia and Iran for what they describe as “hybrid attacks” and acts of sabotage. Moscow and Tehran both deny any such campaign.

This week, unidentified hackers shut down fridges in supermarkets in several European countries. Some experts said hoax bomb threats could be part of a similar pattern of low-cost, deniable disruption efforts.

“From railways to the food infrastructure that you see happening with the fridges being hacked and all kinds of other operations, it does fit the narrative of Russian state actors who want to disturb Europe,” said Eric Schouten, head of aviation security group Dyami.

Reuters

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Disgruntled National Union of Metalworkers of South Africa (Numsa) regional leaders have hit back at the union’s national office bearers (NOBs), saying they do not have powers to suspend or implement disciplinary action against them, as that power rests with the regional executive committee (REC).

Numsa general secretary Irvin Jim and president Andrew Chirwa wrote to the regional leaders on Monday, on the day the regional leaders held their special national executive committee (NEC) meeting, calling on them to withdraw the notice and cancel the “purported meeting, including any adjournment or reconvening of it; if proceedings have commenced, cease conducting them as a meeting of Numsa’s NEC and refrain from adopting or implementing purported decisions in that capacity”.

The regional leaders are expected to brief the media on Tuesday on the outcomes of the special NEC held on Monday.

The NOBs held their own special NEC last week, where they resolved to suspend the regional leaders who held a central committee meeting and suspended the national office-bearers, replacing them with a task co-ordinating team (TCT).

Regional leaders from the Eastern Cape, KwaZulu-Natal, JC Bez, Mpumalanga and Sedibeng defied Jim and convened a central committee meeting recently, the highest decision-making body between national congresses. Jim had written to them to say the meeting scheduled for October 23-25 had been cancelled until further notice.

The letter by Jim followed a ruling by labour court judge Edwin Tlhotlhalemaje preventing Numsa and the office-bearers from barring delegates from Mpumalanga from attending, participating and voting at committee meetings.

At the central committee meeting (October 23-25), the regional leaders, including Andile Bloko, Nkosinathi Makhanya and Andile Nqilingwane, resolved to strip the national office-bearers of their delegated powers and functions.

Last week, the NOBs announced that their special NEC had resolved to suspend the leaders and staff members, including Mncedisi Kwababa, Mziyanda Twani, Mzamo Khoza and Collen Mahlangu, saying they were causing “havoc in the organisation”.

In their letter dated November 2, which Business Day has seen, Jim and Chirwa wrote: “Numsa has already communicated its position: the gathering held on October 23–25 did not comply with the union’s constitution and did not constitute a meeting of its central committee (CC). Numsa rejects its purported decisions, including the purported establishment of your task team and the purported conferral of authority upon it.”

In its response dated November 2, the TCT wrote: “Your letter demands that the meeting be cancelled, yet it does not cite a single provision of the constitution [that] confers on the national office bearers, or on the president and the general secretary acting together, the power to cancel a meeting called to implement a decision of the CC; there is no such provision.

“The constitution confers powers on the structures of the union expressly, and a power it does not confer cannot be exercised by letter. A structure that ranks below the CC cannot undo its decisions, and the national office bearers, who are not a constitutional structure with powers of their own in this respect, can do so even less,” the TCT said.

“The meeting accordingly proceeded as convened, and eight of the nine regions of the union attended it. Each of you is a member of the NEC and was entitled to attend and to put your concerns to the meeting, which is where they belong.”

The TCT said the union constitution confers no disciplinary power on the NOBs, individually or collectively, as the power to suspend office bearers and officials was that of the NEC, “and then only for sufficient cause; the suspension and discipline of shop stewards rest with the REC” and regional office bearers were disciplined by their RECs “under chapter 8(2)(b), on seven days’ notice and after a hearing under chapter 8(2)(d)”.

“The suspensions purportedly imposed through the meeting of October 27 are void, since their stated cause is attendance at the central committee, which the labour court ordered to be convened and the implementation of its decisions, which is what chapter 2(1)(b) requires of every member; a suspension imposed without the power to impose it is void, as the labour appeal court confirmed in Numsa v Ntlokose [2023] ZALAC 32, and it does not prevent any comrade from attending the structures to which he or she belongs. Any comrade disciplined or threatened for attending [Monday’s] meeting will be supported in challenging it, including by seeking costs against those responsible in their personal capacities,” the TCT said.

It said the meeting of October 23 was the continuation of the CC, which the labour court, “on October 22, ordered to be convened with its full membership … You have not asked any court to set aside any of its decisions, and until a competent forum does so, they bind every member, office bearer and structure of the union under chapter 2(1)(b)."

The dispute between the NOBs and regional leaders arises from events at the Mpumalanga regional congress on June 29-30. Before the congress, the region’s Ehlanzeni Local Shop Stewards Council (LSSC) resolved that local office bearers would identify and nominate delegates from among its members.

After the congress, a shop steward complained directly to Jim that the process used to select delegates from Ehlanzeni structures was unlawful. They alleged that the election of Ehlanzeni council delegates contravened the Numsa constitution, “which in turn called into question the status of the regional congress and the delegates elected at that congress”.

In a letter dated September 4 to all central committee delegates, Chirwa announced that the committee would reconvene without the Mpumalanga delegates.

This prompted Mpumalanga regional chair Nkosinathi Makhanya to approach the courts for relief. In his ruling, Tlhotlhalemaje interdicted the NOBs from excluding the Mpumalanga delegation and found that Chirwa “on his own or with the general secretary” had “usurped the powers of the CC, acted ultra vires, and put the cart before the horse” and that such conduct “amounts to self-help”.

Numsa is expected to hold its national congress later this month, where a new national leadership is expected to be elected.

The regional leaders are expected to brief the media on Tuesday on the outcomes of the special NEC meeting held on Monday. Jim said the TCT was fake, the media briefing unauthorised and that the NOBs were the legitimate leadership.

Business Day

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The Electoral Commission of South Africa (IEC) has assured South Africans that it has done everything possible within its powers to deliver credible local government elections.

This comes as the electoral body says it has picked up attempts from some quarters to malign the integrity of the elections a day before millions of South Africans head to the polls.

More than 29-million potential voters will have an opportunity to make their preferred choice among the 136,790 candidates, representing a total of 546 political parties across the country.

Delivering an update on the special votes taking place on Tuesday before the main election day on Wednesday, the IEC’s chief electoral officer Sy Mamabolo said the commission was confident it would be able to deliver unquestionable elections.

“Can we assure South Africans that everything will go well? The commission has done everything within its means, its ability and within its mandate to ensure that we ready the country for an election which is credible,” said Mamabolo.

“That includes preparation of voting officials, preparation of political parties, as well as the registration of candidates and the eventual printing of ballot papers. All those things, which are within the constitutional and legal purview of the commission, have been done. Now we wait for South Africans to play their role tomorrow.”

Watch the IEC briefing:

Mamabolo said that its information integrity unit has noticed a worrying trend of individuals wanting to cast doubts on the elections, including making untested claims of electoral fraud.

“Over the past 24 hours, the commission’s information integrity hub has identified growing attempts to impugn the integrity of the election process, especially via social media platforms,” said Mamabolo.

“Unsubstantiated election fraud pronouncements by some political party leaders have led to supporters posting videos of presiding officers and staff transferring special vote ballots, after home visits, from the carrying boxes and bags into the main ballot box. The videos are shared without context, alongside claims that something untoward is happening.”

Mamabolo said the commission is pleading with political parties to avoid making “inflammatory” statements which were misrepresenting how the voting process was unfolding.

The IEC has already dealt with some of its officials who were not adhering to the standards.

“Where political parties and candidates pick up aberrations by election officials, they are supposed to use the established reporting mechanisms so that the commission can trigger the appropriate mitigation measures,” said Mamabolo.

“The commission has already acted swiftly against election officials who fell short of carrying out their duties as required.”

Mamabolo said the commission’s digital disinformation reporting and tracking platform, Real411, had registered 34 complaints comprising misinformation/disinformation, incitements to violence, hate speech and harassment.

Most of these were made on X (Twitter) at 58.8%, followed by TikTok 23.5%, while Facebook and WhatsApp each accounted for 8.8% of the complaints.

“The commission has alerted citizens about the identified social posts spreading false information, and it has provided factual information on its social platform accounts. It has also escalated some misinformation and disinformation posts to the social media platforms for takedown,” said Mamabolo.

Mamabolo said the IEC was ready to welcome South Africans who registered to vote and who are on the voters’ roll to its voting stations on Wednesday morning.

“Our desire, and it’s a desire we have made a lot of application towards, is to ensure that South Africans come, spend as little time as possible at the voting station so that they can go and continue with their normal business,” said Mamabolo.

“Come with your ID, register your political choice, and in peace, leave the voting station. That’s really what we’re asking for tomorrow, and as the media, as social partners, as civil society, let’s all get that message out. Don’t interfere with the presiding officer. Party agents, do your work, observe what you need to observe at the points where you are designated to observe.

“Ultimately, an election is supposed to be a joyful occasion when South Africans celebrate themselves as a democracy, as a constitutional democracy; it’s not a day where we must get at each other. It’s a day of joy; let’s make it a day of joy, a day to remark on because we are celebrating the essence of who we are as a people. That’s what an election is about.”

TimesLIVE

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Greenland’s parliament on Tuesday ratified the Arctic island’s security agreement struck earlier this year with US President Donald Trump, though some opposition party members questioned the deal’s economic value.

The US, Denmark and Greenland in September signed the agreement, aimed at ending tensions after Trump’s repeated threats to take control of the strategically located, mineral-rich island, a self-governing Danish territory.

The deal expands the US military’s role in Greenland, paving the way for two new military bases and Trump’s “Golden Dome” missile defence system, while reaffirming Danish sovereignty and Greenlanders’ right to self-determination.

A majority of MPs had already signalled support for the deal in a first debate last month.

Tuesday’s vote was 16 in favour and none against, with seven abstentions.

The White House in January said Trump was discussing options for acquiring Greenland, including potential use of the US military, alarming governments in Europe and triggering intense diplomatic efforts to calm the situation.

Greenlandic foreign minister Mute Egede said on Tuesday that ratification of the deal was an important step for the island.

“We must accept that peace and stability are no longer something we can take for granted,” Egede told legislators in Nuuk shortly before the vote.

Opposition party Naleraq, the most prominent political voice for Greenland’s independence, questioned the deal’s economic value during the debate.

“We are looking for a better agreement that we can benefit from when we become an independent state. But no economic benefit has been gained from the agreement,” Naleraq chair Pele Broberg said.

The Danish parliament is due to give the bill a first reading on November 11, followed by a second reading and a vote on November 19.

The executive agreement will enter into force once Denmark and Greenland have ratified it and does not require approval from the US Senate.

Reuters

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Premier Soccer League (PSL) chair Irvin Khoza has suggested that the Soweto derby could move to Moses Mabhida Stadium in the future as FNB Stadium comes under scrutiny after Saturday’s crowd-control chaos.

Crowd control remains a big problem at the derby. Despite Stadium Management SA CEO Bertie Grobbelaar outlining plans for the previous derby to curb overcrowding, issues persisted on Saturday.

The venue was overcrowded, with alleged incidents of security staff taking bribes from supporters without tickets to enter the stadium.

Some supporters who arrived just minutes before kickoff were locked out because the stadium was full, forcing a group to push through the gates, creating security and safety concerns.

Khoza said stakeholders involved in hosting matches at the venue were failing to fulfil their responsibilities.

“We went to Durban for the final of Pirates and Chiefs in the Nedbank [Cup]; nothing of the sort happened. Pirates and Sundowns — nothing of the sort happened. Why here?” Khoza told eNCA.

“There are certain role-players who are not playing their part, but I cannot name and shame them on television because I’ve asked for a briefing on Thursday to make sure that if they don’t make up the act, we’re going to name and shame them because they are letting us down.”

Khoza said Moses Mabhida Stadium had been a good host and hadn’t experienced problems with big matches.

“Maybe in the future, instead of going to FNB Stadium, let’s go to Durban because they are good hosts. They do things professionally. All our events are seamless.”

It was reported that because the stadium was too full, 6,000 spectators were locked out of FNB Stadium on Saturday despite having tickets, including some with suite tickets.

Maybe in the future, instead of going to FNB Stadium, let’s go to Durban because they are good hosts. They do things professionally. All our events are seamless.

Irvin Khoza, Premier Soccer League chair

A video circulated on social media also showed angry fans vandalising the barriers and damaging steel gates after being refused entry to the venue.

Grobbelaar could not be reached for comment.

Meanwhile, Moses Mabhida Stadium manager Zakhi Mkhize said the venue was ready to host big matches in Durban, including the derby.

“Moses Mabhida is a soccer stadium that welcomes big match content like the derby,” Mkhize told Sowetan.

“Our stadium is also open seven days a week for permanent staff for maintenance and co-ordination of content. The approach to hosting becomes a city initiative so that all sectors from security, health, communication and governance work cohesively and efficiently to deliver a safe sporting environment.”

Business Day

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Business Day

Jon Rahm would accept the same punishment that Brooks Koepka received in order to return to the PGA Tour.

That does not mean he will receive the same offer or terms, however, and there is no guarantee the door will reopen to players who bolted for LIV Golf.

PGA Tour CEO Brian Rolapp said on August 25 that there were no plans to revive the Returning Member Programme.

Rahm, who opted to decline to participate in LIV Golf 2.0, has yet to hold discussions with the PGA Tour about a potential return given the recent birth of his fourth child.

Rahm said he would be willing to compete on the DP World Tour in 2027 should he be required to serve a one-year suspension, which is the same punishment levied to former Masters champion Patrick Reed and others after they left LIV Golf.

“With the PGA Tour, things are a little different,” Rahm told reporters on Tuesday at the Abu Dhabi Aldar Championship. “I haven’t been able to speak to them yet. Until things are finalised, which should be hopefully soon, and then we’ll see.

“I don’t know what is in store for us. We know what they did with Brooks. This is different circumstances. I don’t know what things are going to look like. But it’s a pretty good safety net to have that I can play the DP World Tour next year, and if it comes to that, I’m really excited to play for a full year.”

Koepka was one of four golfers — Rahm included — to be offered the Returning Member Programme by the PGA Tour in January. The programme allowed LIV golfers who had won one of the four Majors since 2022 and had been away from the tour for at least two years to return under specific conditions and financial penalties.

Koepka was the lone golfer of the four to accept the proposal, however. By doing so, the five-time Major champion had to forfeit any player equity shares for the next five years. He also agreed to the request of the PGA Tour to make a $5m donation to charity.

“Most likely, yeah,” Rahm said of returning under similar circumstances. “Why not? Yeah, but it’s a big if. I seriously doubt I get offered the same deal that Brooks did. But yeah, if I got offered exactly the same penalties as him, I probably would do it.”

Rahm, who turns 32 next Tuesday, reached a separation agreement with LIV Golf on October 15 after joining the fledgling league in 2024.

While contract terms never were revealed, it is believed the Spanish superstar signed a contract in the range of $300m and is still owed more than $100m in future guarantees.

He additionally earned more than $106m in prize and bonus money on the course. He won the individual season championship in each of his three seasons with LIV.

“I would say I can only reflect on those three years as a positive,” Rahm said. “It was a wonderful experience. Played a lot of good golf. Obviously, individually and as a team, we did great. As much as I liked the project and the idea on, let’s say, LIV 1.0, I wasn’t thrilled with the changes they were doing to 2.0, and I just wasn’t willing to follow that path. It wasn’t anything special, anything that stood out. I just didn’t like what they were going with 2.0.”

LIV Golf’s future was thrown into turmoil in the spring when officials from the Saudi Arabian group that had been paying the bills said it would stop funding the circuit. BC Partners Credit, an investment firm, is prepared to provide $300m to finance what is being called LIV 2.0, should the league emerge from bankruptcy.

Field Level Media

It will also unpack the overall state of readiness for Wednesday’s local government elections.

Stream courtesy of SABC.

TimesLIVE

Sydney — Point Of Law ran down surprise leader Royal Supremacy on the home straight to win the 166th running of the Melbourne Cup at Flemington on Tuesday, giving trainer Ciaron Maher his second victory in Australia’s biggest horse race.

The 4-year-old stallion bided his time for the first 2,900m as rank outsider Royal Supremacy opened up a lead of 20 lengths but exploded off the final corner and sprinted home to win the $7.16m handicap by two lengths.

“Please don’t wake me up, it’s an amazing feeling,” jockey Ethan Brown said from the saddle as he brought the 6-1 second favourite in.

“I looked up, and Royal Supremacy was about 20 in front. I thought, ‘oh, God, just stay cool, stay patient, and cut the bend.’ And once he got that clear running, his turn of foot was enormous. He’s going to be a superstar horse if he isn’t already.”

POINT OF LAW WINS THE LEXUS MELBOURNE CUP! 🇦🇺 https://t.co/1yLOy9LDSy

— At The Races (@AtTheRaces) November 3, 2026

Zahrann finished second ahead of Juja Kibo to give Maher, who co-trained the 2022 winner Gold Trip and had seven horses in the race, a sweep of the top three.

Irish trainer Joseph O’Brien prepared five horses for the race but had to settle for a best finish of fourth place through Sons and Lovers.

Favourite Hopewell Rock finished ninth, while Royal Supremacy’s reward for leading for most of the race was fifth place.

Jockey Brown left his home in Alice Springs in Australia’s remote Northern Territory as a teenager to chase his dream and spent six months out of the sport after a nasty fall at Flemington three years ago.

“I was inches from losing my life, but a bit of time off and I realised I wasn’t any good at anything else,” he said. “There was a slow burn inside of me.”

Brown paid tribute to the trust Maher had placed in him by giving him the ride.

“He’s done nothing but support me and backed me, and I buggered up plenty of times on his horses, and he’s just had nothing but faith,” the 27-year-old added.

“He’s one of many people, but he’s believed in me. He showed that by putting me on.”

Maher returned the compliment during the post-race ceremony.

“I could just see how dedicated he was this year,” said the former jockey, who has made a success of importing horses to train and race in Australia.

“He was dialled in, and that was a beautiful exhibition of how to ride a horse in the Melbourne Cup.”

Earlier, Asterix was scratched and trainer Chris Waller fined A$50,000 hours before the race after a stablehand applied a liniment to the gelding’s forelegs without permission from the stewards.

Reuters

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By Colleen Goko

South Africa’s dry taps and power cuts reflect a municipal debt crisis that is squeezing state utility Eskom and straining public finances, with forecasts of more hung councils after Wednesday’s local votes likely making solutions harder to find.

Eskom, the state power utility, says it is owed R122.5bn by municipalities. Households and businesses, in turn, owe municipalities R484.5bn — but only 63.9% is collected, according to National Treasury budget data.

Poor collection leaves many municipalities struggling to pay creditors, including Eskom and the water boards, compounding the financial stress across the public sector.

When asked about the impact of the municipal debts, Eskom told Reuters, “it weighs heavily on the national budget, the sovereign credit rating and borrowing costs”.

Council leadership changes bring uncertainty

Wednesday’s municipal elections could further complicate efforts to tackle the debt pile. No party is expected to win an outright majority in the major metropolitan regions.

Hung councils and coalition negotiations could bring leadership changes just as municipalities face deadlines to comply with the Treasury’s repayment and reform measures.

In July, finance minister Enoch Godongwana froze funding to offending municipalities and imposed a compliance roadmap with deadlines stretching to November 30.

South Africa had 70 hung councils after the 2021 local elections.

“I would not be surprised if that number goes up to maybe 100,” said Louw Nel, senior political analyst at Oxford Economics Africa.

Eskom said municipalities’ financial obligations “remain unchanged even in the event of a new administration taking office”, but acknowledged that any leadership change “brings with it uncertainty”.

Rating agencies’ warnings

S&P Global upgraded South Africa’s sovereign rating in November 2025 for the first time in nearly 20 years, citing among other factors reduced contingent liabilities as Eskom’s finances improved. But it warned that municipal arrears could “pose significant risks” to the state utility’s turnaround.

Moody’s, which changed South Africa’s outlook to positive in May, said the risk of further material contingent liabilities had diminished but flagged growing municipal arrears to Eskom.

Persistent municipal arrears threaten those gains by weakening Eskom’s cash flow, potentially increasing the risk of a need for renewed government support.

The government has provided R663bn in guarantees to state-owned enterprises, more than half to Eskom, according to S&P Global.

“There’s obviously a risk that they might have to tap into the guarantees,” said Jason Lightfoot, senior portfolio manager at Futuregrowth. While that was not his base case, he said distressed municipalities were effectively shut out of commercial funding.

“Municipalities in their own right are unfundable.”

Fragile process

Godongwana’s crackdown showed early results. By the end of July, 38 of 69 municipalities had concluded repayment plans, and R4.2bn had been paid toward outstanding creditor debt. But Eskom says the Treasury’s enforcement measures are “not sufficient alone”.

Of 71 municipalities approved for a government debt relief programme launched in April 2023, only eight are compliant; the remaining 63 are overdue on current-account payments, the utility said.

The crisis extends beyond electricity. In the Free State mining town of Matjhabeng, residents have gone more than 20 days without water. The municipality owes its water board R9.5bn — one of the starkest examples in the nationwide crisis.

The National Treasury said it had no immediate comment.

In July, when the government conditionally released withheld municipal funds, Godongwana said the Treasury had to balance enforcing financial rules with protecting basic services.

“National Treasury recognises that communities should not carry the immediate consequences of failures by municipal institutions,” Godongwana said. “That consideration is central to the decision.”

Reuters

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By Tom Balmforth and Luiza Ilie

London/Bucharest — After seven strikes on cargo ships near Nato members Romania and Bulgaria last month, the US-led military alliance said it would deploy maritime patrol aircraft, radars and drones to bolster its eastern flank in the Black Sea.

Three days later, on October 23, another ship was struck just outside Romanian waters. And last week a Greek container ship was sunk by naval drones in Bulgaria’s exclusive economic zone.

Unabating attacks show how the escalating maritime war between Russia and Ukraine is expanding into a major challenge for Nato in the Black Sea that has left littoral member states such as Romania and Bulgaria exposed.

Military analysts said they had little doubt that these were Russian attacks. A naval drone seen on video of the last strike resembled a Russian variant, according to shipping security firm Ambrey.

‘Undeniably an escalation’

“I think it’s undeniably an escalation,” said Sidharth Kaushal, a senior fellow at the London-based Rusi think-tank.

Russia denies targeting Ukraine’s neighbours with drones and says that European governments are the ones escalating the war in Ukraine by supplying military aid.

Russia’s defence ministry did not respond to a request for comment for this article.

Russia, Ukraine and US to hold peace talks in Abu Dhabi

Moscow — Russia will hold three-way peace talks with Ukraine and the US in Abu Dhabi from November 10-11, the Kremlin confirmed on Tuesday.

Vladimir Medinsky, an aide to Russian President Vladimir Putin, will serve as Moscow’s chief negotiator at the talks, Kremlin spokesman Dmitry Peskov said on a conference call.

US envoy Steve Witkoff said on Monday the US would bring together delegations from Ukraine and Russia in Abu Dhabi next week to discuss post-war security agreements and de-escalation.

Many of the ships hit in October were anchored near or sailing to or from a key Romanian canal used by Ukraine for exports. One was in Romanian territorial waters, while the other eight were in its or Bulgaria’s exclusive economic zone.

Iulia Joja, director of the Black Sea programme for the Washington-based Middle East Institute think-tank, said Russia’s attacks were taking into account the West’s aversion to escalation.

“This is about testing these red lines, with full awareness that we will do everything possible to take the most minimal measures,” Joja said, drawing a comparison to Russian drone incursions into Nato airspace in recent years.

A Nato official said Russian actions aimed at dissuading Nato allies from supporting Ukraine were a serious security threat and that the alliance’s commitment to defending all its members, including those on the Black Sea, was “iron clad”.

The official said there was a clear need for cost-effective counter-drone capabilities. The alliance had already committed to investing more than $40bn in counter-drone capabilities in the next five years.

Gas producer

For Romania, the Black Sea is a crucial waterway for trade and home to its offshore Neptun Deep project, which will make it the EU’s largest gas producer next year. Neptun Deep was approached by a naval drone in August.

Bucharest has accused Russia of “systematic” strikes on civilian ships but stopped short of attributing individual attacks, citing the need for forensic evidence. Sofia has not blamed Russia but said some of the attacks seem to benefit it.

The strikes come while Washington is reassessing its military presence in Europe as it focuses on China. The US withdrew 1,000 troops from Romania last year.

“It’s a moment in the transatlantic relationship that Putin likely wants to use,” said a senior Romanian official. “The EU and Nato’s attention is important, and their forces are currently focusing towards the north and the Baltics.”

While Nato has reinforced its “enhanced forward presence” for the Baltics and Poland, Joja said it had not done the same in Romania despite Bucharest’s requests. “Brussels and Washington still don’t seem to have decided whether the Black Sea is fully part of the Nato commitment.”

The Romanian official highlighted Romania’s pressing need for surface-to-air interceptors and radar systems to counter threats.

Joja said the limited availability of cheap interceptor weapons, exacerbated by the war in Iran, was a central problem for the West.

Black Sea shipping

The surge in strikes on Black Sea shipping has strangled a major conduit for exports of grain and oil used by Russia and Ukraine.

The two sides hit 317 merchant and other vessels in the Black Sea and Sea of Azov between May and October, a more than fourfold rise on the 74 vessels they struck in the previous half-year, according to Tomas Alexa, a senior analyst at Ambrey Analytics.

The tempo of attacks has fluctuated before the fifth anniversary of Russia’s full-scale invasion in February. Ukraine carried out 137 attacks on ships compared with 92 Russian ones in the third quarter, while in October, Russia hit 38 compared with five Ukrainian strikes, Ambrey said.

Grain exports

Ports have been battered and exports have shrivelled, forcing Russia and Ukraine to seek alternative export routes. Russia exported just 0.3-million tonnes of grain in September through the Black Sea and Sea of Azov, down from 4.74-million tonnes in the same month last year, according to Russian export data.

Ukraine suspended operations at its Black Sea ports in late July due to Russian attacks, prompting it to divert volumes to river ports on the Danube and onwards through Romania’s Sulina Canal and southwards through Romania’s section of the Black Sea.

Even with this alternative route, Ukraine’s port exports of grain slumped to 0.81-million tonnes in September compared with 2.1-million tonnes in September last year, government data shows.

Further reducing these volumes remains Russia’s primary goal with testing Nato as the secondary objective, said Andriy Ryzhenko, a naval analyst and former senior Ukrainian naval officer.

Turkish control

Last week’s attack took place as the defence ministers and military chiefs of Romania, Bulgaria and fellow Nato littoral state Turkey met in Sofia to discuss the situation.

The defence minister of Turkey, which is awaiting a response from Moscow and Kyiv on a narrow maritime ceasefire proposal, used the meeting to warn Russia and Ukraine against further attacks.

Turkey controls the transit of warships through the Bosphorus and Dardanelles under the Montreux Convention.

Several countries, including Egypt, Turkey and India, have pushed for maritime ceasefires to avert fallout from the disruption of shipping while global fuel and grain prices have soared.

US secretary of state Marco Rubio said on Saturday that there was growing international interest in a limited ceasefire.

Russia has rejected the idea of a narrow maritime ceasefire, which it says would provide respite to Kyiv.

Ukrainian President Volodymyr Zelensky has sounded the alarm. “Everyone is talking about diesel and forgetting about grain. In a month or two, everyone will start talking about an agricultural crisis,” he said last month.

Reuters

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The Reserve Bank has revised the discontinuation date for the Johannesburg interbank average rate (Jibar) from the end of this year to May 31 next year to allow more time for the completion of legislative processes relating to the switch to its successor, deputy governor Rashad Cassim said on Tuesday.

The bank last December formally announced the planned cessation of Jibar, the primary short-term money market benchmark reference rate, saying its structural weaknesses, with the sustained decline in the market underpinning it, had created “vulnerabilities that cannot be resolved in the foreseeable future”.

On Tuesday Cassim told a conference of Market Practitioners Group (MPG) — a joint public and private sector body which facilitates decisions on interest rate benchmarks — that market participants needed a legislative solution for tough legacy contracts to be in place before transitioning to the new South African Rand Overnight Index Average (Zaronia).

He said that when the MPG started work on the switch in 2018, it was clear that replacing Jibar, a deeply embedded benchmark referenced across trillions of rands’ derivatives, loans, bonds and other financial contracts, would not be easy.

While some market participants were actively moving to Zaronia, others would make a passive transition, moving automatically on a designated date.

“But we have a whole class of contracts where these strategies are not feasible and contracts cannot be amended before cessation,” Cassim said.

“For this purpose, there are proposed amendments to the Financial Sector Regulation Act that would allow the designation of replacement benchmarks.

“But these amendments are not yet law. They are still working their way through the legislative process, which involves the full parliamentary process and presidential assent. The timelines for this are not certain. We have therefore decided it is too risky to continue with the previously announced Jibar cessation date,” Cassim added.

Ending Jibar without proper legal mechanisms to deal with tough legacy contracts could be “highly disruptive”, he said, adding however that the delay was neither a reversal of the decision to discontinue the instrument nor a reflection of any concerns about Zaronia.

“Indeed, the market has made measurable progress. Zaronia is working well, with a small and stable spread to our policy rate. Furthermore, Zaronia-related derivative exposures have grown to over R18.5-trillion globally as of September,” said Cassim.

“This is encouraging — though we acknowledge that global Jibar derivative exposures still exceed R98-trillion, so there is still a lot of work ahead.”

The Reserve Bank also wants to scrap the prime lending rate, — which commercial banks use as a baseline to charge customers for loans, mortgages and credit facilities — and earlier this year published a paper in which it argued that it is a legacy benchmark no longer needed.

The prime rate is pegged at 350 basis points above the central bank’s policy rate, which is currently at 7.25%.

“The prime lending rate is also part of the next phase of reform. We expect that doing away with prime will make loan pricing simpler and more transparent,” Cassim said on Tuesday.

Business Day

What began in 1996 as a stolen vehicle recovery company has evolved into a leading South African technology and services business, delivering end-to-end solutions that help organisations reduce risk, optimise spend, increase efficiency and make better decisions every day.

Over three decades, South Africa’s business landscape has changed significantly. Businesses are under constant pressure to do more with less while navigating increasing complexity, rising costs and rapidly evolving customer expectations.

Tracker has evolved alongside these changing needs. Today, the company combines connected technology, data intelligence and human expertise to help businesses gain greater visibility across their operations.

From fleet management and video telematics to asset tracking, supply chain visibility and business intelligence, Tracker provides connected solutions that transform data into meaningful, actionable insights.

Built around business outcomes

While technology is at the heart of what Tracker does, the focus has never been technology for technology’s sake. The starting point is understanding what matters most to each customer.

For some organisations, that means improving driver safety and fulfilling duty-of-care obligations.

For others, it is reducing fuel costs, improving fleet utilisation, strengthening compliance, enhancing supply chain visibility or gaining greater operational control.

Rather than offering a one-size-fits-all solution, Tracker works in partnership with businesses to understand their needs and build solutions around the outcomes they want to achieve.

This customer-centric approach has enabled Tracker to serve organisations across industries and fleet sizes, helping them solve real-world challenges with connected technology and actionable intelligence.

From recovery to prevention

Tracker’s reputation was built on vehicle recovery, and that remains an important part of the business today. However, the focus has expanded beyond recovery to prevention.

Modern telematics, AI-powered cameras, real-time monitoring and advanced analytics enable businesses to identify risks before incidents occur.

Fleet managers can receive alerts about unsafe driving behaviour, monitor critical events in real time and access meaningful insights that help improve safety outcomes across their operations.

Video telematics solutions provide organisations with greater visibility into what is happening on the road, helping support driver coaching, reduce risk exposure and strengthen accountability.

The result is a proactive approach to safety; one that helps businesses protect not only their vehicles and assets, but also the people who use them every day. Because while looking after an asset is important, looking after the person is essential.

Turning data into decisions

Businesses generate vast amounts of data every day. The challenge is not collecting the information. The challenge is turning it into something useful.

Tracker’s approach goes beyond data gathering. By combining advanced analytics, AI capabilities and industry expertise, the company helps businesses transform complex information into practical insights that support better decision-making.

Whether it is identifying opportunities to reduce fuel consumption, optimising routes, improving fleet utilisation, monitoring assets, strengthening supply chain performance or enabling faster operational responses, Tracker helps organisations unlock the value hidden within their data.

The goal is simple: provide information in a format that businesses can understand, trust and use to drive measurable results.

Walking our own talk

The benefits of connected fleet intelligence are not only delivered to customers. Tracker uses its own fleet management technology across its operations, giving the business first-hand experience of the challenges and opportunities faced by fleet operators.

This has contributed to improved safety performance, fewer accidents, lower maintenance costs, reduced fuel waste and decreased vehicle misuse.

It is a practical example of Tracker’s belief that technology should deliver measurable business value, not just more information.

Partnering in the journey ahead

Thirty years is a significant milestone, but Tracker remains focused on helping businesses solve today’s challenges while preparing for tomorrow’s opportunities.

As businesses continue to navigate an increasingly connected and data-driven world, the need for trusted partners has never been greater.

Tracker’s role is not limited to helping recover stolen vehicles. Today, it is about helping businesses operate smarter, safer and more efficiently through a connected ecosystem of technology, services and insights.

For three decades, the company has been caring for and protecting people and their things. Today, that commitment extends across entire business operations, helping organisations gain the visibility, intelligence and support they need to move forward with confidence.

One connected ecosystem. Multiple business advantages. Let’s build a smarter operation together.

For more information, visit the Tracker website.

This article was sponsored by Tracker.

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By Humeyra Pamuk and Susan Heavey

Washington — US President Donald Trump on Tuesday said he made a deal with Israeli Prime Minister Benjamin Netanyahu that Washington would stop $4bn in funding to Israel after the end of this year.

Speaking to Fox News’ Fox and Friends, Trump said Israel no longer needed the funding and that some Democrats and left-wing politicians were using the US financial support to Israel as a talking point to criticise Republicans.

“Now, as far as paying Israel, Bibi Netanyahu and I have made a deal that we give Israel $4bn a year, and we made a deal months ago that we’re stopping,” Trump told Fox News’ Fox and Friends.

“We’ve already agreed that by the end of this year we won’t be paying Israel. Now we’ll help Israel if they need it,” he said.

There was no immediate comment from Netanyahu’s office on Trump’s remarks.

It was not immediately clear which exact funding Trump meant. A memorandum of understanding that provides $3.8bn in annual US military aid to Israel is approaching its expiration date in 2028, and conversations have been under way on how Washington’s assistance to Israel would evolve beyond that date.

“They can buy whatever they want. They can buy whatever they want. So can Europe. We make the greatest weapons in the world,” Trump added on Tuesday.

Netanyahu said in a May interview with CBS that he hoped to wean Israel off US military support within a decade. In a June letter to a US ​congressman, he wrote that the time had come for Israel “to move from aid recipient to partner.”

US public support for Israel has fallen since the Gaza war began in 2023, particularly among Democrats. A June Quinnipiac University poll found 48% of voters and 66% of Democrats believe the US is too supportive of Israel, up from 16% and 20% when the question was first asked in 2017.

Support for Israel among Democratic voters has plummeted; candidates critical of Israel are winning Democratic primaries and even moderate legislators are increasingly willing to challenge decades of US support for Israel.

“The left uses the $4bn payment that everybody knows about — well, it’s no secret, as a signal of unfairness, and we can’t allow that to happen,” Trump said.

“We were giving them 4-billion, we are, but it gets cut off at the end of the year,” he said. “Why? Because they don’t need it.”

Reuters

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Nearly 8.4-million ticket applications have been received for the India-Pakistan group-stage clash at next year’s Men’s Cricket World Cup, organisers said.

The rivals are set to clash in Johannesburg at the Wanderers on October 10 next year. The final, hosted at the same 34,000-seat venue, trails close behind with almost 8-million ticket requests.

Nearly 3-million fans from 193 countries have applied for tickets in the ballot window, which remains open until November 21, for the tournament co-hosted by South Africa, Zimbabwe and Namibia.

More than 120-million total ticket requests have been received for the 14-team showcase that runs from October 2 to November 21.

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A 1997 Ferrari F50 has sold for $18.7m (R310.7m) at Broad Arrow Auctions’ 2026 Las Vegas Auction, setting a record for the most expensive example of the model ever sold at auction.

The sale was the highlight of Broad Arrow’s second annual auction as the official auction partner of Concours at Wynn Las Vegas, held on October 31.

The single-day event generated $92.8m in sales, with 64 of the 84 lots finding buyers. According to the auction house, it was the highest-grossing collector car auction ever held in Las Vegas.

The F50, which had covered just 170km, was accompanied by a collection of original factory accessories. It sold to a bidder in the room for $18,705,000, exceeding the previous auction record for the model by more than $4m.

Ferrari accounted for several of the auction’s other top results, including a 2025 Ferrari Daytona SP3 that sold for $18.54m.

The second model in Ferrari’s limited-production Icona series was offered by its original owner and had covered just 130km at the time of cataloguing. It was finished in Verde Francesca, a Tailor Made paint colour, with a two-tone Nero Alcantara and Mustard Aunde Jeans interior.

After a bidding contest involving collectors in the room and on the telephone, the SP3 sold above its high estimate. The result established a new auction record for a noncharity example of the model.

Other Ferraris also achieved record prices. A low-mileage 2014 Ferrari LaFerrari sold for $8.805m, while a 2019 Ferrari 488 Pista, finished in Giallo Modena yellow with a two-tone stripe, achieved $1.2975m.

The auction also produced strong results for several other high-performance marques.

A 2023 Bugatti Chiron Super Sport, one of 80 produced, sold for $4.57m. The car featured a two-tone silver and exposed black carbon-fibre finish, complemented by Havana upholstery.

A 2015 McLaren P1 GTR converted for road use by Lanzante achieved $3.415m, setting an auction record for the model.

A 2019 Koenigsegg Regera sold for $2.645m, while a 2009 Mercedes-Benz SLR McLaren Roadster in Arctic White, with Silver Arrow Tobacco Brown leather upholstery, fetched $747,500. The latter also established a new auction record for the model.

Broad Arrow said registered bidder numbers increased by 63% compared with its 2025 Las Vegas auction, while 35% of participants were bidding with the auction house for the first time.

Business Day

Business Day

Business Day

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By Parisa Hafezi

Dubai — Iran and the US remain far from a deal to end the war, a senior Iranian official said on Tuesday, despite intensified diplomatic efforts to avert a return to major conflict after the US midterm elections.

Overnight, the US carried out “defensive” strikes on Iran’s Qeshm island, with a US official saying the strikes targeted surface-to-air missiles used against US assets. Another official said the strikes appeared to be limited and did not signal a resumption of major combat operations.

Qatar has stepped up mediation efforts amid fears the conflict launched by the US and Israel in February could reignite after Tuesday’s elections.

“Mediators are working hard to narrow gaps between Tehran and Washington,” the senior Iranian official said, after Qatari mediators travelled to Tehran on Monday night for talks on a version of a draft US-Iran deal that has been under negotiation for the past eight days.

“Tehran’s conditions must be met if the US wants Hormuz reopened,” the Iranian official cautioned, referring to the strait that is critical for global energy supplies.

Tehran’s conditions must be met if the US wants Hormuz reopened.

Iranian official

Qatar said on Tuesday the US and Iran remained committed to mediation efforts and were reviewing proposals put forward by mediators. While the Qatari team that travelled to Tehran had since returned to Doha, talks were continuing, Qatar’s foreign ministry spokesperson Majed al-Ansari said.

“There are intensive joint regional efforts under way to avoid escalation,” he said, adding that Qatar remained hopeful a deal could still be reached to pave the way for future negotiations.

‘Excessive demands’

The Iranian official, who spoke on condition of anonymity, said nuclear talks could only start after Iran’s conditions were fulfilled and that Tehran would not accept Washington’s “excessive demands”.

Tehran would respond forcefully, in the region and beyond, to US strikes, the official added.

Oil prices rose by about $1 a barrel on Tuesday, having dropped more than 7% the previous day on hopes that diplomacy was progressing.

Iran’s Revolutionary Guards said they downed a US MQ-9 drone and two Lucas drones in the skies near the Strait of Hormuz.

Iran’s parliament speaker Mohammad Baqer Qalibaf said the ball was in Washington’s court after Tehran had delivered what he described as a “strong and rational response”.

“The enemy seeks to force the Iranian nation into submission through threats and military action, but they are sorely mistaken; Iran will not submit,” Qalibaf said, adding that Tehran’s response to any miscalculation by the US would be unpredictable and disregard geographical constraints.

Countries across the region have been bracing for the possibility that US President Donald Trump could resume attacks once Tuesday’s midterms are over.

But Trump cast doubt on Monday about whether he would follow through on threats to resume military strikes after the vote, saying he believed Tehran wanted a deal as soon as possible and that such an agreement “could happen”.

Asked by reporters if he was considering striking Iran after the midterms, Trump replied, “No.”

Iran updates targets

The head of Iran’s armed forces general staff, Ali Abdollahi, said Iran’s military was updating its target lists to include US and Israeli material and non-material assets and would respond immediately to any threat, without geographical limits.

Since Supreme Leader Ayatollah Mojtaba Khamenei ordered the armed forces to respond immediately and without “geographic limits” to any enemy threat, Iranian officials and media outlets have increasingly raised the prospect of striking bases beyond the region that are used to launch attacks on Iran.

Hardline newspaper Kayhan said on Tuesday that US facilities in Britain, Italy, Greece, Romania, Albania and Cyprus could be targeted by Iranian missiles in the event of renewed war.

In parallel with the exchange of messages between Tehran and Washington through intermediaries, regional diplomatic efforts are continuing to prevent further escalation.

Saudi talks

Iranian Foreign Minister Abbas Araqchi said on Tuesday that talks with Saudi Arabia were continuing to seek new regional security arrangements that would exclude foreign military involvement.

Last week, top officials from Saudi Arabia, Turkey and Pakistan met Iranian officials in Tehran, the first high-level contact between Iran and the three nations since August. The US-Israeli war on Iran started in late February, and since then, fighting has spread to Saudi Arabia and Yemen.

Riyadh said the visit was intended to open negotiating channels to “prevent the return of military escalation”, as fighting between Saudi Arabia and Yemen’s Iran-aligned Houthis had intensified.

Houthi attacks on the kingdom escalated as the powerful militia advanced towards the Bab el-Mandeb Strait, a key shipping chokepoint that lies on the opposite side of the Arabian Peninsula from the Strait of Hormuz.

The Houthis have also attacked Saudi oil facilities and airports, including Riyadh’s international airport, disrupting flights and oil exports and drawing Saudi air strikes on Yemen in response.

Impoverished Yemen has been mired in a civil war since the Houthis pushed the internationally recognised, Saudi-backed government out of the capital, Sanaa, in 2014.

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By Amlan Chakraborty

Part entertainer, part enigma, Glenn Maxwell will go down in cricket folklore as the game’s great what-if — a maverick shot-maker whose limited-overs wizardry never extended to red-ball cricket.

Where many of his peers stuck to the batting manual, Maxwell rewrote it with his 360-degree stroke-play, which made field settings a nightmare for rival captains.

It could not be risk-free, but Maxwell cared little as he pulled off reverse hits and cheeky scoops with a gum-chewing nonchalance.

Fans expected spectacle whenever Maxwell walked out with the bat and, more often than not, he delivered it with his unorthodox shots.

The definitive example came at the 2023 ODI World Cup. Chasing 292 against Afghanistan and with Australia reeling at 91/7, Maxwell conjured up an unforgettable 201 not out off 128 balls to complete a chase that had looked impossible.

That sense of occasion was present from his Australia debut, an ODI against Afghanistan in 2012, and it studded his career.

A two-time ODI World Cup winner, Maxwell also hit the winning runs in Australia’s maiden T20 World Cup triumph in 2021 under captain Aaron Finch.

Fittingly, Finch fronted the tributes to Maxwell after a 286-match international career spanning 14 years.

“Without doubt one of the most destructive players the game has ever seen and easily one of the most innovative of our generation,” Finch wrote on Instagram.

“Some of the things you’ve done on a cricket field have been absolutely ridiculous. You’ve played innings that most of us could only dream of and produced some of the greatest moments this game has ever seen. You’ve changed the way the game is played and inspired so many along the way.”

Maxwell’s value was always three-dimensional: explosive batting, savvy off-spin, and electric fielding that saved runs and snared jaw-dropping catches. It made him T20 royalty, especially in the Indian Premier League (IPL).

Maxwell, 38, was an IPL millionaire at 25 and earned the nickname the “Big Show” after his first ODI series — a moniker he resented.

“At the start, I thought if I fight it, I’m going to have to live with it even more, so I tried to sort of ride with it,” Maxwell said in 2014. “I’m just trying to shake it off because it’s starting to go too far.

“It’s not about what I’m about. I’m all about trying to entertain and … I just love being out there trying to hit balls for four and six.”

That ability made him a crowd magnet — evident in his 12.4-million followers across social media platforms.

The long run was not without quiet chapters, and Test cricket never became his stage.

Maxwell played only seven Tests in 2013-17, scoring 339 runs at a modest average of 26.

He took a mental health break from the sport in 2019 and recounts the episode in his autobiography in a candid assessment of the struggles that lay beneath his confident exterior.

Reuters

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By Lewis Krauskopf

New York — Investors are weighing the market implications of a possible shift in control of the US Congress in Tuesday’s midterm elections, focused on whether a strong Democratic showing could pave the way for greater volatility in asset prices, particularly the AI sector, which has been a main driver for markets.

The midterms come at a fragile time for markets, with a swoon in AI shares causing investor unease that could be exacerbated by the election results. Tuesday’s outcome could hold broad implications for market-sensitive areas including the AI data centre buildout, the US fiscal outlook, defence spending and regulation in areas such as healthcare, banking and cryptocurrencies.

President Donald Trump’s Republican Party has controlled both chambers of Congress during the first two years of his second term. Opinion polls show the Democrats are likely to take the House, while the Senate is too close to call.

“While probabilities increasingly favour a Blue sweep, several tightly contested Senate races leave open some possibility of Republican control of the Senate or, conversely, a greater than expected Democratic foothold in the Senate,” Scott Chronert, US equity strategist at Citigroup, said in a research note. “Equity market reaction is likely positive in the former case and negative in the latter.”

Greater oversight

Strategists at UBS Global Wealth Management have assigned a 50% probability of a Democratic sweep, a 40% chance of Democrats winning the House while Republicans retain the Senate, and a 10% probability that Republicans hang onto both chambers.

“The most visible effects of a change in congressional control would likely be greater oversight of the administration and more difficult fiscal negotiations,” Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note on Monday.

A Democratic-led Congress could exert greater scrutiny over AI companies, in part due to growing public opposition to data centres, a risk for a market that has been lifted by such investment spending.

While analysts doubt any viable legislation would severely undermine the data centre buildout regardless of the election outcome, they expect a Democratic sweep to lead to investigations into the technology sector.

Many investors have said they are eager to get past the elections, which have hung over the markets for the last several weeks. Since 1970, in midterm election years, the S&P 500 index has gained in every six-month period following the election, according to financial services firm Edward Jones.

Options market

While equity volatility has increased in recent sessions, traders in option markets aren’t bracing for a big stock market move after the election results.

Options on the S&P 500 index are priced for a move of about 0.8% in either direction on Wednesday, slightly higher than the 0.6% average implied daily move over the past month, according to data compiled by Orats, a financial data and analytics platform specialising in options trading, options research, and volatility.

“We could see some volatility come out once there is a clear result, but I wouldn’t assume all that uncertainty disappears Wednesday morning,” said Joe Tigay, portfolio manager at Equity Armor Investments. “Election hedges can expire; geopolitical risk doesn’t have an expiration date.”

Reuters

It will also unpack the overall state of readiness for Wednesday’s local government elections.

Stream courtesy of SABC.

TimesLIVE

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Every year, while we wait for the National Health Insurance (NHI) legal battles to end and implementation to begin, South Africa’s commercial health care system grows more costly and less affordable. Medical schemes, funders and providers have the power to act independently of the government, and they have the responsibility to do so now.

There are two ways forward: build a system structured around universal health care principles — one that reverses shrinking access to a private sector that is vast but priced out of reach by its own inefficiency — or wait for legislation to impose solutions on a system that has already collapsed. The choice remains ours.

Without structural reform NHI can’t fix this. As currently conceived it risks centralising the payment model that created this problem in the first place, just at a larger scale. Pooling funding without changing how providers are paid simply scales the problem: a single, larger purchaser paying per service would not rein in volume, it would underwrite it.

The structural transformation we need does not depend only on legislative change, it can happen within existing frameworks. Value-based contracting can be demanded, and reimbursement structures can be redesigned to reward multidisciplinary teams for good patient outcomes rather than for volume.

The cost of continued inaction is mounting. Medical scheme contributions have risen 6% to 9% annually, far outpacing wage growth, while benefits are cut back every year. Schemes continue to respond not by fixing the system, but by competing for young, healthy members — in effect pricing out the older and the sicker, and children and young adults.

About 20 years ago open commercial schemes held 67.5% of the market. By 2024 that share had fallen to 56.1%, with restricted, government and employer-linked schemes picking up the difference.

Millions of employed South Africans are increasingly caught in the gap: they earn too much for public health care, and too little for private cover. They pay what they can, and hope no-one in their family falls seriously ill.

An underresourced public sector cannot absorb this exodus, but an efficient, affordable private sector could. This is what systemic dysfunction and market failure look like, and every year of delay makes it harder to reverse.

The root cause is straightforward. Fee-for-service medicine, the dominant reimbursement structure, pays lone clinicians rather than teams. This fragments care and rewards reactive, crisis-driven intervention, rewarding volume over outcomes, from admissions and bed days to procedures and tests.

This is compounded by prescribed minimum benefits (PMBs), a regulatory framework that legally obliges schemes to fully cover a defined list of mostly hospital-based conditions.

In effect, hospital care is guaranteed funding by law, while prevention and community-based alternatives are not. Prevention and good health promotion become economically irrational. Teamwork and co-ordination break down.

The root cause is straightforward. Fee-for-service medicine, the dominant reimbursement structure, pays lone clinicians rather than teams. This fragments care and rewards reactive, crisis-driven intervention, rewarding volume over outcomes, from admissions and bed days to procedures and tests.

The system fragments — not because of poor management or insufficient funding, but because the underlying incentive structure actively discourages what would make health care affordable and effective.

For more than a decade we have been successfully implementing value-based care, now delivered through our population medicine programme, the value care team, proving structural reform is achievable. Rather than paying clinicians for individual services, GP-led multidisciplinary teams receive a monthly fee, adjusted for patient complexity, to deliver holistic care to active member populations.

Providers are no longer rewarded for maximising volume; they are rewarded for working in a team that optimises people’s care and outcomes. With fees tied to measurable, regularly reassessed health outcomes, the team is paid for keeping people well, not for doing less.

This is what happens when incentives align with outcomes. Prevention becomes financially viable: care co-ordinators visit patients at home, educate families about their loved one’s condition and help build support systems around them. Early intervention becomes possible. Patients with chronic conditions have continuity of care rather than navigating disconnected services while their health deteriorates. This is what universal healthcare looks like in practice — not in theory, not in policy papers, but in clinical work serving real patients, delivering real results.

Some will argue it is premature to restructure the private sector while the shape of national health reform remains unsettled. The opposite is true. Whatever form universal health care eventually takes, it will have to buy care from somebody, and this will only be as good as the providers from whom it buys.

Clinicians already organised into co-ordinated teams, paid for outcomes and accountable for the populations they serve, will be ready on day one; those working alone and still billing per item will not.

Building value-based models now is not competing with that reform. It is preparing the ground for it. Trust in whatever comes next will be built the same way, through tangible improvements, not abstract debate.

Some will say these changes first need regulatory permission. They don’t. Nothing stops a funder from contracting differently, or a group of organised clinicians from agreeing to be paid differently. We already do this every day. Funders can write outcome measures into provider contracts and pay for co-ordination and prevention, not consultations alone.

Some will say these changes first need regulatory permission. They don’t. Nothing stops a funder from contracting differently, or a group of organised clinicians from agreeing to be paid differently.

Clinicians can accept payment that follows results rather than activity. The PMB framework dictates what must be covered; it does not dictate how care is paid for. Every scheme that renews a fee-for-service arrangement without questioning what it is buying has made a choice. So has every provider group that accepts it. Neither can credibly blame the government for a status quo they keep signing.

A universal health care system will eventually arrive; in what form we don’t yet know. That uncertainty cannot paralyse us. The system can be transformed using what’s already in place — the proof exists. What is missing is the willingness to act.

Waiting for legal clarity is not caution; it’s a stalling tactic, a choice to accept a shrinking sector, increasingly out of reach for a growing share of our people. That choice has consequences.

The only remaining question is whether those with the power to lead will do so, or whether they will continue to hedge their bets.

• Dr Ruff, an internal medicine specialist and rheumatologist who was head of clinical risk management for Discovery Health, is a co-founder of health care management company PPO Serve.

Business Day

Story audio is generated using AI

By Agency Staff

Football’s world governing body will grant its council members access to key documents concerning the defunct Fifa Forward Enterprise (FFE) proposal, a person with direct knowledge of the matter said on Monday.

Fifa scrapped the $20bn World Cup sell-off plan earlier this year only days after making it public, amid a backlash that imperilled president Gianni Infantino’s leadership.

Fifa secretary-general Mattias Grafstrom sent a letter to the global body’s council members on Monday inviting them to register their interest in reviewing the documents under specific conditions at the group’s Zurich headquarters, the person said.

The move came on the day of a deadline European football’s governing body Uefa had set for Fifa to answer questions about Infantino’s presidency, as European federations press for reforms and oppose his re-election.

BREAKING: FIFA to partially release documents relating to World Cup sell-off plan

Sky's @RobHarris reports ⬇️ pic.twitter.com/4k0A3betpM

— Sky News (@SkyNews) November 2, 2026

Multiple federations demanded sweeping reforms of Fifa in the aftermath of the failed proposal, with Swiss-Italian Infantino having previously proposed an independent review of the organisation’s decision-making processes.

Last month, Uefa sent a letter to Fifa seeking answers about Infantino’s presidency, including questions over FFE and the Fifa Peace Prize, setting a November 2 deadline for a response.

“Fifa viewed Uefa’s two-week deadline to respond to more than 100 questions as unfeasible, given their recent focus on organising a new youth World Cup in Baku, Azerbaijan,” the person said.

Fifa has maintained it would respond to council members in due course, and the invitation to view key documents is only to council members

Source

“The organisation is also preparing for an extraordinary congress on 23 November to determine the hosts for the 2031 and 2035 Fifa Women’s World Cups. The ongoing legal action in the US has also created legal boundaries.

“Fifa has maintained it would respond to council members in due course, and the invitation to view key documents is only to council members.”

Infantino’s re-election prospects strengthened significantly a little more than a week ago when the head of Asian football endorsed him for a fourth term. The move left Europe increasingly isolated in its opposition to the Fifa chief.

Infantino will stand for re-election in March 2027, with a November 18 deadline looming for potential candidates to submit their nominations.

Reuters

Djokovic has been waiting for a record 25th Major title since winning his last Grand Slam crown at the 2023 US Open.

The former world No 1 reached the Australian Open final and Wimbledon semifinals but exited early at the French Open and the US Open.

“This year the focus shifted to feeling well on the court rather than playing well, to be honest, because for most of the tournaments I played, I didn’t play many, it was health-wise a big struggle,” Djokovic told reporters.

“It had nothing to do with my preparation or whether I’m training enough, because I see there are a lot of people who love to express expert opinions on knowing exactly what’s happening with me, but they don’t.”

Djokovic won his 102nd career title in Beijing last month before going out early in Shanghai and Basel.

The 39-year-old is 11th in the race to Turin standings, with the top eight qualifying for the season finale, though world No 2 Jannik Sinner’s absence through injury improves Djokovic’s chances.

“Whenever I felt better on the court, and lately that’s been the case, we’re getting closer to solving what I have been going through in the past 12 months,” Djokovic said.

“So right away, my performance level, my enjoyment on court, my feeling, is great and I play better. Beijing was the best week of the year other than Australia and I thought I played pretty well in Basel, as well.

“Of course that was a tight match to lose, but just trying to enjoy the last couple weeks of the season and on the court feeling better primarily. Then the performance will come. We’ll see after that.”

The November 2-8 Paris Masters tournament will be followed by the ATP Finals from November 15-22.

Reuters

The Proteas won the Test, which concluded on Saturday, by 176 runs to wrap up a 2-1 series win.

South African batter Marques Ackerman attempted to review a caught decision but was told by umpires Richard Illingworth and Richard Kettleborough that he was past the stipulated 15 seconds to do so.

Prince was seen shouting at the umpires that Ackerman had signalled he would review within the time allowed. Verreynne, who was not playing in the match but had 12th man duties, told Ackerman to remain on the field of play, delaying his exit.

Prince and Verreynne were found to have breached article 2.8 of the ICC code of conduct for players and player support personnel, which relates to showing dissent at an umpire’s decision during an international match. Each also had one demerit point added to their records. If a player or official reaches four demerit points in a 24-month period, they face suspension.

South Africa moved to the top of the world Test rankings with the series victory.

Reuters

Story audio is generated using AI

By Stephen Nellis

San Francisco — Apple warned on Monday that the cost of memory chips would continue to rise, pressuring gross margin for the crucial holiday quarter, but said it had taken steps to lock in supplies.

Shares, little changed in after-hours trading after fourth-quarter results beat expectations, fell 4% during a conference call after executives outlined the weaker outlook, but later pared losses to a 2% decline. Early demand for the iPhone 18 Pro lineup and higher prices boosted the quarter.

Apple said it expects gross margin of 45%-46% in the quarter ending in December, down from 47.9% in the fourth quarter. It forecast services revenue growth of 8%-9%, below analysts’ expectations of 10.7%.

The results come as Apple experiments with a string of firsts under new CEO John Ternus, who took over in September. After nearly two decades of launching most new iPhones each autumn, Apple this year is spacing them out, with iPhone Pro and Duo models shipping this year and other models expected next year.

Apple also released a bevy of new non-iPhone products this quarter, including its first touchscreen laptops and first smart-home hub. The steady drumbeat of releases, analysts said, is meant to smooth out Apple’s yearly revenue cycle, which for decades showed a huge holiday-quarter boom that petered out by late summer.

Apple in recent weeks has grappled with customer reports of cracked screens on the iPhone Duo, its first foldable phone, which sold out within hours online and spurred lines at stores last month.

Fourth-quarter sales were $114.48bn, above analyst estimates of $113.39bn, according to LSEG data. Profit was $2.10 per share, above estimates of $1.99 even when excluding 5c from tariff refunds.

Demand for iPhone Duo units

In an interview, Ternus said “a very small percentage” of iPhone Duo units had been returned for display issues and that Apple is replacing them. He said the company is overall unable to meet demand, with no timeline for catching up.

“Duo is constrained as of today,” Ternus said. “The ramp is going well... but at this point, we’re not able to predict when supply and demand will be in balance.”

Fourth-quarter iPhone sales, which included iPhone 18 Pro models but not Duo, were $57.58bn, above estimates of $56.54bn, according to LSEG data.

The staggered launch strategy comes as Apple faces headwinds from an AI-driven memory-chip price spike that could dampen the margin boost Apple derives from storage upgrades.

“The big question for Apple moving forward will be how well they can weather the significant component price increases that have slowed their PC and smartphone competitors,” said Bob O’Donnell, chief analyst at TECHnalysis Research. “The new iPhone Duo looks to be a big hit, but the company has to solve the screen glitches and ramp up its manufacturing output.”

MacBook prices

As it launched the iPhone 18 Pro, Apple also raised iPhone 17 prices by $100 and increased some MacBook prices, softening the blow of rising memory costs.

“We did see higher memory costs as compared to the June quarter, which was partially offset by the benefit of carrying inventory and lower costs on certain non-memory components,” Ternus said. “These price increases provided some offset.”

Fourth-quarter gross margins were 47.9%, above estimates of 47.5%, according to LSEG data.

On the investor call, CFO Kevan Parekh said Apple expects memory costs to keep rising into next year. Asked whether Apple had signed a long-term supply agreement, COO Sabih Khan did not directly confirm a deal but said Apple is working closely with memory suppliers and that its purchasing commitments increased by $33bn during the quarter.

Shares of memory-chip maker Micron rose more than 1% in after-hours trading on Monday, and shares of chip-manufacturing equipment makers KLA Corporation and Applied Materials also rose.

Apple also pointed to Siri AI, which runs partially in Google’s cloud, as a factor impacting margins. The company plans to charge more for iCloud+ subscriptions to offset AI costs, though it has not rolled out specific pricing.

“There are going to be some usage limits on features that rely on server-side models, which include Siri AI and intelligent photo editing,” Ternus said.

Mac sales were $10.79bn, above estimates of $9.61bn. Services revenue was $31.57bn, in line with estimates of $31.5bn. iPad and wearables sales were $6.23bn and $8.30bn, both below estimates. Chinese sales were $17.54bn, below the $18.58bn analysts estimated, according to Visible Alpha data.

Reuters

Alcaraz split the four Grand Slams with Sinner in the 2024 and 2025 seasons, but injuries to the top two this year left the door open, with Zverev winning the French Open and US Open.

With Shelton reaching the Flushing Meadows final, Alcaraz expected no shortage of genuine contenders for the big titles.

“Preseason is really important,” Alcaraz said after his Vienna Open triumph on Sunday.

CARLOS ALCARAZ ESTÁ TOTALMENTE LOCO.

NO HAY OTRA EXPLICACIÓN. pic.twitter.com/Im2HDo2Q6b

— Tiempo De Tenis (@Tiempodetenis1) November 1, 2026

“I can tell you players are taking pre-season really seriously, those weeks of training hard to be in good shape.

“Sascha [Zverev] showed us what he’s capable of doing. The best player of this year. He deserves to be there. Let’s see if he’s going to continue to do the great things he’s been doing this year in 2027.

“Shelton reached his first Grand Slam final and I think he’s ambitious and hungry for more next year. A few others also playing great and they’re going to try to practice at their best to be at their best next year.

“I don’t like to say it’s going to be Jannik and me and the rest. Let’s see who’s going to be there. I’m pretty sure a lot of players are going to show up.”

Alcaraz won his seventh Grand Slam title at the Australian Open before a wrist injury kept him out for more than four months. Since returning at the US Open, he has won titles in Tokyo and Vienna.

He will look to finish the season on a high at this week’s Paris Masters and the ATP Finals from November 15.

Limpopo police spokesperson Brig Hlulani Mashaba said the incidents occurred at Chuchekani Primary School voting station in the Humulani settlement in Lulekani on Monday.

Mashaba said the first incident was reported at about 10am when a 32-year-old voter allegedly photographed his ballot paper after voting. The presiding officer confronted him and informed him that photographing a marked ballot paper was against electoral rules.

A second incident was reported at about 1.40pm when another male voter allegedly photographed his marked ballot paper. When confronted by the presiding officer, he reportedly became aggressive, verbally insulted her and left the voting station.

At about 1.50pm, one of the voters allegedly posted an image of his marked ballot paper on his social media status.

Mashaba said the presiding officer reported both incidents to the Electoral Commission of SA (IEC), which advised her to open a case with police. The case was reported after the voting station had closed, by which time both suspects had left the premises.

Mashaba said the 32-year-old suspect was arrested on Tuesday and was expected to appear in the Lulekani magistrate court on Wednesday.

Police are searching for the second man.

TimesLIVE

The full-scale concept of the Kia EV4 GT uses automotive modelling clay and clay from the courts where Nadal won a record 63 men’s clay singles titles. The Spaniard won a total of 92 ATP Tour singles titles across all surfaces.

Kia presented the tribute to Nada at the Rafa Nadal Academy in Mallorca.

“Rafael’s determination and resilience have inspired tennis players and fans around the world, and those values have been central to our partnership since 2004.

“This tribute celebrates Rafael’s remarkable achievements and the journey we have shared. Through tennis and our wider sporting partnerships, Kia aims to bring people together and inspire future generations.” said Soohang Chang, CEO of Kia Europe.

Clay modelling remains an integral and tactile way to judge proportions, surfaces and finishes in vehicle development, despite digital evolution, according to Kia. This creative method is uniquely combined in the EV4 GT hatchback concept. The orange-red surface and white detail lines reflect a tennis court’s hues.

Bespoke details on the clay model reference Nadal’s career milestone, including his 63 clay-court singles titles, a record 50 consecutive sets won on clay, and the five seasons in which he finished as world number one.

Kia’s relationship with Nadal began in 2004, when Kia Spain started supporting the emerging star.

“For more than 20 years, Kia has been by my side throughout my career, through all the highs and the challenges,” says Nadal.

“Receiving this tribute, created from the material that has defined so much of my journey, is incredibly meaningful. It is a special reminder of everything we have shared, and I am honoured by this gesture.”

Reuters

I should admit I don’t generally “get” poetry. Most of the time it is too deep. I do tend to agree with AH Auden, though, that poetry “makes nothing happen”.

The last time I was brave enough to recite a poem in public was in response to someone’s recitation of a poem by Jalāl al-Dīn Muḥammad Balkhī. I read the first line of Philip Larkin’s This be the Verse. It did not go down well; we were in a serious situation during the Fees Must Fall period of 2015-16, which demanded grown-up seriousness.

I am going a long way around to saying we change poses, positions and perspectives to meet the faces we meet.

I hold a view of the world that I have difficulty explaining to myself. One perspective I have assiduously rejected, though, is that of Herbert Spencer, mainly because of the certainty of the things he said, but especially for his social Darwinism.

The man coined the phrase “survival of the fittest”. He believed social relations could be likened to the functioning of a human body, and that all the atoms, cells and organs, and other things that make up the human body, are like all the different parts of society that worked together, and if one part fails then all the others fail too.

It has a nice ring, that statement. But everyone knows there are some organs you can lose and continue to survive. I lost most of my left lung as a teenager, and there are several parts of my body that have since infancy been held together by staples, screws, scar tissue and good luck.

In recent months, filled with bile and self-defeat, as the English poet Tony Harrison wrote in his poetic dedication to 19th-century poet John Keats, I have thought the world was sick. Last month I wrote somewhere that the “moral heart has been ripped from the chest of humanity”.

That is absurd, of course. It works well only in a poetic way. There is no actual “moral heart” beating in “the chest of humanity”. I had to pull back from Spencer’s biology as a structural reality to explain the world. Social Darwinism justifies inequality and influences right-wing arguments that empathy was bad for humanity, and that poor people somehow deserved their lot.

It ignores the way that culture (writ larger than race or ethnicity) shapes social outcomes, and what we believe to be true and false. Whenever I read that we (journalists and public intellectuals) have to “defend the truth”, I am reminded that US President Donald Trump created an entire social media platform to defend truth.

How, then, does one explain the state of the world? Here is a moving image of the world. There are various permutations of violent conflict, targeted political kidnappings, assassinations, protest and rioting, destruction, oppressive militarism and policing, and mass displacement in France, Palestine, Syria, Iran, Afghanistan, India, Myanmar, Sudan, Somalia, Britain, Indonesia, Serbia, Albania, Germany, the US, on The Steppes, and in Japan.

Over the past year we have had reports of extrajudicial killings and the kidnapping and targeted assassinations of political leaders from Venezuela to Iran. Rape continues to be used as a weapon of war (and in times of peace, as reports of sexual violence by US soldiers on Japanese girls and women have illustrated over the past two decades at least).

There is evidence of an AI bubble that is ready to burst, and talk of the US using a tactical nuclear bomb on Iran. How, then, does one explain or understand the world? Well, we can explain it any way we like.

Maybe the world is sick. Maybe we are going through Giambattista Vico’s cycle of development, which is followed by an inevitable reset. Maybe the second law of thermodynamics applies; that total entropy necessarily increases. Maybe we have to accept the idea of a Great Inversion (the integration of high-tech into human life) and look again at the likelihood that we are at the end of an epoch.

I draw a line only at end-times explanations; it’s a face I cannot prepare, never mind the faces I meet.

• Lagardien, an external examiner at the Nelson Mandela School of Public Governance, has worked in the office of the chief economist of the World Bank and the secretariat of the National Planning Commission.

Business Day