Latest news with #R258
The Citizen
4 days ago
- Business
- The Citizen
Standard Bank pockets R24 billion in six months, while Capitec eyes earnings to surge above 22%
Headline earnings are a way of measuring a company's core profit. The first half of 2025 seems to be a great time for banks as they are pocketing billions in headline earnings. Standard Bank Group reported R24 billion in headline earnings, while Capitec said it expects its earnings to increase between 22% and 27%. Headline earnings are a way of measuring a company's core profit. Basically, how much money it makes from its main business activities, without the noise of unusual or one-off events. Sim Tshabalala, CEO of Standard Bank Group, attributed this success to continued balance sheet growth, robust fee and trading revenue growth, and diligently controlled costs. ALSO READ: Standard Bank glitch: Clients shocked by empty account balances The bank eating everyone's lunch Standard Bank Group is Africa's biggest lender by assets. Tshabalala was reporting on the bank's performance for the six months ended 30 June 2025. The bank's headline earnings grew by 8% to R23.8 billion, while its return on equity (ROE) increased to 19.1% 'Our performance in the first six months of 2025 reflects the robust franchise momentum in our businesses and active capital management despite the volatility linked to global developments. We remain confident and firmly on track to deliver on the 2025 targets outlined to the market in August 2021,' said Tshabalala. The bank's outlook Standard Bank Group expects its headline earnings per share to grow from 8% to 12% and ROE within the 18% to 22% range, for 2026 to 2028. From information gathered by The Citizen, Standard Bank's lowest paid employee gets R258 390 per annum, making this the highest average salary in banking. Tshabalala walked away with more than R89 million in remuneration. Out of the R89 million, his annual salary cost the bank more than R10 million. ALSO READ: Do you still need cash? Banks closing ATMs, except Capitec Capitec expects an increase Capitec on Wednesday said it expects its headline earnings to grow by 22% and 27% for the six months to end in August 2025. In the same period in 2024, the bank made R6.4 billion in headline earnings. It is attributing this expected growth to increased loan disbursements and annualised credit loss ratio remaining stable. 'Growth in net transaction income and commission, including value-added services and income from Capitec Connect, continued as active client numbers increased and transaction volumes grew,' said the bank. Capitec CEO tops banking pay charts According to the Capitec's financial results for the year ending 28 February 2025, former CEO, Gerrie Fourie's annual salary and provident fund is over R18 million, with benefits worth R118 000. When including short and long-term incentives, his total cost to company for the year was over R104 million. Fourie resigned as CEO on 25 July, and handed the reigns to Graham Lee. 62% of the Capitec's employees earn between R250 000 and R500 000 annually. NOW READ: Absa and Standard Bank raised their minimum salaries for 2025 – here's the new pay
IOL News
08-07-2025
- IOL News
Hawks and SAPS K9 Unit thwart rhino horn trafficking in Swellendam
In a significant bust against wildlife crime, the Directorate for Priority Crimes Investigations (Hawks), alongside the SAPS K9 Unit, Overberg, and Stock Theft and Endangered Species officials, executed an undercover operation on Wednesday, 2 July 2025, at Buffeljags River, located on the N2 route outside Swellendam. This operation resulted in the arrest of three suspects, who were found in possession of a substantial quantity of rhino horn, engaging in a transaction to sell the illicit product. During the operation, law enforcement recovered three rhino horns valued at R258,270, wrapping up a meticulous investigation that underscores South Africa's ongoing battle against the illicit wildlife trade. The suspects, all originating from Gqeberha in the Eastern Cape, have been charged with alleged contraventions under the Nature Conservation Ordinance 19 of 1974, specifically relating to possession and sale of wildlife products without the necessary permits. The case against the accused — Shaun Barties (41), Christopher Farret (35), and Cheslyn Whitebooi (45) — was brought before the Swellendam Magistrates Court on Friday, 4 July 2025, where it was postponed until 11 July for bail application, with all three suspects remanded into custody.
IOL News
08-07-2025
- IOL News
Hawks and SAPS K9 Unit thwart rhino horn trafficking in Swellendam
In a significant bust against wildlife crime, the Directorate for Priority Crimes Investigations (Hawks), alongside the SAPS K9 Unit, Overberg, and Stock Theft and Endangered Species officials, executed an undercover operation on Wednesday, 2 July 2025, at Buffeljags River, located on the N2 route outside Swellendam. This operation resulted in the arrest of three suspects, who were found in possession of a substantial quantity of rhino horn, engaging in a transaction to sell the illicit product. During the operation, law enforcement recovered three rhino horns valued at R258,270, wrapping up a meticulous investigation that underscores South Africa's ongoing battle against the illicit wildlife trade. The suspects, all originating from Gqeberha in the Eastern Cape, have been charged with alleged contraventions under the Nature Conservation Ordinance 19 of 1974, specifically relating to possession and sale of wildlife products without the necessary permits. The case against the accused — Shaun Barties (41), Christopher Farret (35), and Cheslyn Whitebooi (45) — was brought before the Swellendam Magistrates Court on Friday, 4 July 2025, where it was postponed until 11 July for bail application, with all three suspects remanded into custody.
News24
21-04-2025
- Business
- News24
Zelensky is in SA this week. Why wheat should be on the agenda
Wandile Sihlobo explains why there is room for a deeper conversation about how South Africa could import more wheat from Ukraine. We will have our Ukrainian friends in Pretoria this week. A range of geopolitical matters will undoubtedly be the primary focus of the leadership of both countries during this working visit by the president of Ukraine. However, there will be business engagements on the sidelines or days leading up to the visit. The Ukrainian president Volodymyr Zelensky may visit South Africa accompanied by senior government officials from the economic sector. Such conversations may be about forming connections to support Ukraine as it navigates the war and explores long-term business opportunities in the post-war world, whenever that day comes. We already see some countries, such as the United States, exploring potential commercial interests in Ukraine through a possible agreement on developing Ukraine's mineral resources. Of course, South Africa should be under no pressure to explore such ambitious commercial interests with Ukraine like the United States. However, the question that may arise is whether there are potential long-term agricultural trade relations that our countries could establish in the future. Both Ukraine and South Africa are net exporters of agricultural products. Ukraine's agricultural exports are approximately $21 billion (R395 billion) per year, according to data from Trade Map. These exports are mainly comprised of sunflower oil, maize, wheat, canola, soybeans, poultry products, barley, and sugar, among other products. China, India, the Netherlands, Egypt, Turkey, Spain, Poland, Germany, Indonesia, Italy, and Saudi Arabia are among Ukraine's key agricultural export markets. South Africa does not feature prominently. It ranks as the 93rd largest agricultural market for Ukraine. This marginal import from Ukraine is understandable, as South Africa is generally a farming powerhouse, boasting an agricultural trade surplus of $6.2 billion in 2024. Importantly, when one examines South Africa's agricultural import basket of $7.6 billion in 2024, the dominant products are wheat, palm oil, rice, poultry, and whiskies. (South Africa's agricultural exports were valued at $13.7 billion - R258 billion - in 2024). This composition of South Africa's agricultural imports partly explains why the country would not feature prominently on Ukraine's agricultural import list. Still, there is room for a deeper conversation about how South Africa could import more wheat from Ukraine, provided the quality and price are acceptable to private businesses. South Africa imports about half of its annual wheat consumption, about 1.8 million tonnes. Ukraine is not a prominent key wheat supplier in South Africa. For example, in the 2024-25 marketing year, South Africa imported about 904 344 tonnes of wheat at the end of the first week of April 2025. The seasonal import forecast is 1.80 million tonnes. So far, the largest wheat suppliers by share are Russia (with 41% share), Lithuania (22%), Poland (10%), Latvia (9%), Australia (7%), Canada (6%) and Romania (5%). Of course, these are private dealings, as the South African government correctly refrains from intervening in food markets. It is for this reason, then, that at the sidelines of government meetings, Ukrainian officials, amongst other things, may have to engage with South African businesses so that, post-war, they too can feature prominently on South Africa's wheat import lists. Among the other agricultural products South Africa imports, Ukraine may have limited room to supply, as these are not among its key export products. From a South African perspective, the Ukrainian agricultural imports list includes a few products that South Africa also exports. For example, Ukraine spends about $5.5 billion annually on agricultural products. These are mainly spirits, citrus, coffee, tobacco, cheese, wine, banana, chocolate, and palm oil, amongst other products. The countries that primarily supply these products to Ukraine include Poland, Italy, Germany, Turkey, the Netherlands, China, Spain, France, the United States, the United Kingdom, and Hungary. While a major producer and exporter of citrus and wine, South Africa isn't the primary supplier of these products to Ukraine. These are the key products that could be worth mentioning in the future. Aside from these, limited business-to-business interactions in agriculture may be key, except to express support for Ukraine as it navigates a challenging time of protracted war. Wandile Sihlobo is the chief economist of the Agricultural Business Chamber of South Africa (Agbiz) and author of three books. His latest book is ' '. News 24 encourages freedom of speech and the expression of diverse views. The views of columnists published on News24 are therefore their own and do not necessarily represent the views of News24.
