Star 2021-11-16

Unchallenged as South Africa’s most influential daily newspaper, The Star covers the heart of the nation with unequalled reporting of local, national and international news and sport. It is widely considered to be a superb advertising environment.

South Africa
Independent Media Pty Ltd
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253 Edities

in deze editie

4 min
heineken makes r40.1bn bid for distell and namibia breweries the offer constitutes a subsantial new direct foreign investment in sa

Edward West GLOBAL brewer, Netherlands-based Heineken, has made a R38.5 billion offer for Distell, South Africa’s biggest alcohol group and the owner of brands such as Amarula, Nederburg, JC le Roux and Savanna. Distell’s share price, however, fell more than 7 percent to R169.57 by midday yesterday, indicating that some shareholders may have been expecting a higher price as the price had peaked at R182.59 on Friday, which is more than the R180 per share that Heineken is offering. The Public Investment Corporation, a major shareholder, for instance, was reportedly holding out for a R200 per share offer. The price is, however, well above the R133.35 average price six months ago, when Heineken first expressed its interest. The R40.1bn total offer, a substantial foreign investment into South…

2 min
vodacom adds 6.2 million customers in last half-year

Dineo Faku VODACOM said yesterday that it had added 6.2 million customers during the half year ended September to service 129.9 million, and unveiled plans to invest more than R10.5 billion in capital expenditure into South Africa’s network in the current financial year amid growing demand for connectivity. Chief executive Shameel Joosub said the capex injection into South Africa’s network was on top of the R47bn the company had spent over the past five years. Joosub said the capex was particularly relevant at a time when many customers continued to work, entertain and educate from home. “A lot of the capex will be spent on towers and making sure that our network is resilient, specifically because of all the outages. Let me give you an example:…

2 min
president’s call to strengthen africa’s industrial base

Siphelele Dludla PRESIDENT Cyril Ramaphosa has sent a strong message to African countries to strengthen the continent’s industrial base and produce goods for themselves and each other. Delivering a keynote address at the second Intra-Africa Trade Fair (IATF2021) yesterday, Ramaphosa said Africa imports about 94 percent of its pharmaceutical and medicinal needs from outside the continent at an annual cost of $16 billion (R245bn). He said this clearly demonstrated that Africa needed to produce its own food and medicines, to strengthen continental supply chains, and to invest in infrastructure and capacitate African institutions. Ramaphosa said the IATF2021 would further cement its position as Africa’s premier trade platform, where African manufacturers can promote and sell more “Made in Africa” goods to one another. “This is critical if we…

2 min
government had inadequate controls of r500bn covid-19 interventions – auditor-general

Banele Ginindza AUDITOR-General Tsakani Maluleke has decried the lack of co-ordination among the government as regards its R500 billion Covid-19 relief fund for health and socio-economic alleviation, which left it vulnerable to fraud and looting. Speaking at the inaugural conference of the Southern African Institute of Government Auditors yesterday, Maluleke said with financial standards, government institutions did not operate in a co-ordinated manner, which had resulted in widespread fraud in the Personal Protective Equipment (PPE) spend. The Auditor-General’s office had been asked to provide real time audits. which helped to give, in real time, assurances, insight and corrections. “We found that controls, procurement systems were weak and, therefore, vulnerable to abuse. “This resulted in incidents of fraud and resource leakage such as what we saw in the quest…

3 min
astral overcomes headwind and declares final dividend of 400c

Edward West ASTRAL, a leading integrated poultry producer, overcame challenges in the industry and rising costs to declare a final dividend of 400 cents per share for the year to September 30. This brought dividends for the year to 700c, 10 percent lower than 775c in 2020. Revenue increased 13.9 percent to R15.9 billion in a year where the group produced “solid” results and retained a healthy balance sheet, chief executive Chris Schutte sadid yesterday. Total comprehensive income fell 8 percent to R471.6 million. The outlook for 2021, as reported towards the end of last year, had leaned towards more negative influences than positive, a forecast that was borne out, with headwinds including the high cost of maize and soya meal. These prices were…

3 min
shoprite shines on jse following strong sales despite unrest and alcohol ban

Dineo Faku SHOPRITE shares closed nearly 7 percent higher on the JSE yesterday at R197.80 after recording bumper sales during the quarter ended September 2021 underscoring the effectiveness of its low-price strategy and diversification of revenue streams. Group sales were 9.2 percent while the Supermarkets RSA sales surged by 11.6 percent during the quarter under review despite the double whammy of the civil unrest and the ban on liquor sales. The Supermarkets RSA segment that makes up around 80 percent of sales from continuing operations comprising USave, Shoprite, Checkers and Checkers Hyper stores grew market share over the quarter. Shoprite said the internal selling price inflation for the quarter measured 3.3 percent, virtually unchanged from the 3.4 percent posted for the group’s second…