Copyright © Daily Dive SA
The South African Reserve Bank’s MPC cuts interest rates by 25 basis points to 7.25%, with the prime lending rate at 10.75%. The decision, not unanimous, was in line with economist expectations. Governor Kganyago cites global economic volatility, including US tariff changes, as factors influencing the decision.
Read More from source
32-year-old Kim White Towne from Cape Town found dead in Virginia home, allegedly killed by husband Alexander Towne. Fairfax County Police responded to domestic violence incident after husband called authorities. Kim declared deceased at scene, husband charged with second-degree murder.
Read More from source
MK party secretary-general Floyd Shivambu claims they can recruit EFF members, prompting a response from EFF leader Julius Malema. Shivambu denies seeking to destroy the EFF but suggests they could recruit EFF leaders. He emphasizes his own decision to join the MK party. Malema dismisses claims of betrayal within the EFF.
Read More from source
Israel resumed military offensive against Hamas in Gaza in mid-March after ceasefire collapse. Hamas rejects US proposal for new ceasefire and hostage release deal. Israel reportedly agreed to plan involving hostage exchange for ceasefire and prisoner release. Netanyahu accepts plan, while Hamas demands end to war. Israeli offensive aims to pressure Hamas to release hostages. Troops to “take control of all areas” of Gaza.
Read More from source
Chinese car brands are gaining popularity in South Africa’s car market, offering affordability and high-tech features. However, WeBuyCars CEO Faan van der Walt warns buyers that some brands may not survive due to intense competition. Buyers should consider resale value and parts availability before purchasing. With 41 new Chinese passenger cars available, prices range from R269,900 to R1.4 million.
Read More from source
Frans Olivier will succeed Gary Chaplin as CEO of KAP Industrial Holdings from November 2025. Chaplin, who has been with the group for nearly three decades, will step down at the end of October. Olivier, the current CFO with 19 years of experience at KAP, is expected to lead the company through its next strategic phase.
Read More from source
Chinese AI startup DeepSeek released an update to its R1 reasoning model, competing with US rivals like OpenAI. The update, R1-0528, was launched on Hugging Face but without an official announcement. The LiveCodeBench leaderboard ranked DeepSeek just behind OpenAI on code generation. DeepSeek’s advancements challenge the belief that US export controls hinder China’s AI progress.
Read More from source
South Africa experienced 109 business liquidations in April 2025, totaling 482 closures for the year. Stats SA reports finance, insurance, real estate, and business services sectors are most affected. However, closures are decreasing compared to March 2025 and down 15% from last year. Year-to-date closures are 6% lower than in 2024. The trend shows a decline from the peak in 2021, with a rise in 2022.
Read More from source
Mrs H.S. Ball’s Chutney is a beloved South African icon, deeply ingrained in the national identity. With a rich history traced back to Amelia Alice Elizabeth Adkins, the chutney is a staple in South African kitchens, complementing dishes like bobotie. It is likened to iconic brands like Guinness in Ireland and Ferrari in Italy.
Read More from source
The main suspect in the murder of journalist Olorato Mongale was suicidal and regretful, agreeing to surrender to police. The suspect, Philangenkosi Makhanya, died in a police shootout. Another suspect, Bongani Mthimkhulu, was identified. The white VW Polo used in the crime was found in KwaZulu-Natal. Police are investigating the case.
Read More from source
