Sommaire pour 2022-07-13 de Mercury

TONGAAT Hulett’s share price has surged more than 80 percent since the sugar and property group announced late last month that a rights issue underwriting deal with controversial financier, the Mauritius-based Magister, had been terminated. Yesterday, the share price closed up a substantial 20.99 percent to R4.90 on the JSE yesterday, following an announcement by Tongaat that Artemis Investments, a shareholder that has been among some very vocal other minority shareholders in their opposition to Tongaat’s plans for a R5 billion rights issue, had acquired shares in Tongaat to now equal 10 percent of the share capital. Artemis is understood to be headed by KwaZulu-Natal-focused property developer Charles Liasides. His company, Artemis Properties, owns a portfolio of retail centres in the province including Windermere Centre, Empangeni…

THE RAND continued its descent yesterday on the back of a stronger US dollar, falling to its weakest in 23 months. The domestic currency has come under severe pressure from aggressive monetary policy tightening by the US Federal Reserve and the general risk-off sentiment plaguing markets. The rand weakened to R17.18 to the greenback during early trade, the lowest since August 2020, also dragged lower by weakening commodity prices amid fears of rising US inflation rate, before pairing gains to R17.04/$1 by 4pm. According to a poll by Bloomberg, inflation in the US is expected to rise 8.8 percent year-on-year in June compared with 8.6 percent in May. If expectations meet reality, this would mark the fastest increase in consumer prices since the 8.9 percent figure back…

THARISA Minerals said yesterday that it had maintained strong production output bolstered by the favourable commodity markets, which ensured a healthy balance sheet during its third quarter. In its production report for the quarter ended June 30, the platinum group metals (PGMs) and chrome co-producer said PGMs production sat at 42 100 ounces, at a normalised rougher feed grade of 1.65g/t, with steady recoveries at 75.6 percent. Chrome production was 389 000 tonnes, a 3.9 percent increase compared to the previous year. According to the group, a PGMs basket price of $2 677 (R45 515) per ounce decreased by 4.6 percent compared to the previous quarter, while the metallurgical grade chrome price increased by 39.5 percent quarter-on-quarter, at $247 per ton.…

THE EFF has rejected the appointment of Struggle stalwart Barney Pityana to chair the National Lotteries Commission. According to the party, his appointment was an “obstacle” to youth development in a country plagued by unemployment. The “red berets” further accused Minister of Department of Trade and Industry Ebrahim Patel of “premeditated corruption”, and wanting his “friends” and “business associates” to win a manipulated lottery licence that is due for renewal in July next year. The 76-year-old Pityana, a former Unisa vice-chancellor, was appointed by the Cabinet after its meeting last week. The announcement was made on Monday, but he has yet to accept his new appointment. However, speaking to The Mercury’s sister newspaper the Pretoria News yesterday, EFF spokesperson Leigh-Ann Mathys said the party had not yet come up with…

Gun-related murders in KwaZulu- Natal and the rest of the country, as seen in the two tavern attacks at the weekend, are likely to continue owing to the government’s failure to implement strict gun-control measures. The warning was issued by experts after two incidents of mass shootings in Orlando West, Soweto, and Sweetwaters, Pietermaritzburg, which left 19 people dead. As the SAPS continue their pursuit of the suspects in the Sweetwaters attack, the Institute for Security Studies (ISS) has identified the proliferation of illegal guns as the main source of the problem. The ISS’s Lizette Lancaster said the illegal guns were mainly used in gang warfare, prevalent in the Western Cape, in the taxi industry and by individual criminals. “There has been persistent theft of firearms and bullets in gun…

Nearly 250 years after Alexander Hamilton, one of America’s founding fathers, wrote a wartime letter to the Marquis de Lafayette, a French aristocrat and Continental Army general, the displaced dispatch is being shown to the public after a protracted saga: from a heist to a private sale, a lengthy legal battle, and now, its homecoming. The Revolutionary War-era document was the centrepiece of an exhibit at Boston’s Commonwealth Museum, featured alongside Massachusetts’s original copy of the Declaration of Independence. Dated July 21, 1780 the letter by Hamilton – who has gained more attention in recent years after a smash Broadway musical – details an imminent British threat to French forces on Rhode Island. Hamilton, an aide to General George Washington, opens with “My Dear Marquis”, giving an impassioned plea…

Over the past 20 years, successive Western governments and their intelligence institutions have unleashed mountains of information indicating that Iran was on the verge of acquiring nuclear weapons. In its quest to defer the alleged threat, the West and its allies used sanctions, sabotage, computer viruses, assassinations and disinformation to derail Iran’s nuclear ambitions, which were begun by the Shah and had Western support. Assuming that the government desires nuclear weapons, what is the status of its capacity and capability to produce and deploy atomic weaponry? The Biden administration alleges that Iran is close to acquiring a nuclear bomb. In reality, there are many pivotal technological impediments that Iran must overcome to acquire a nuclear arsenal. It must have enough enriched weapons-grade uranium and develop a missile system that can…

The DA in Gauteng said it would fully comply with the Special Investigating Unit (SIU) probe into one of its municipalities for alleged corruption and maladministration. The SIU confirmed that it would investigate the DA-run Midvaal Local Municipality over a tender for the rental of a vehicle tracking system by or on behalf of the municipality. The DA has over the years dubbed the municipality as one of the country’s top-performing municipalities. “If there is an investigation we will comply with the SIU. The DA prides itself on running governments that are prudent with taxpayers’ money,” said Solly Msimanga MPL, DA Gauteng leader of the official opposition. The tender was awarded during the tenure of former mayor Bongani Baloyi when the council received seven clean audits under his leadership. Baloyi…

PARLIAMENT’S Section 194 Committee, in determining suspended Public Protector Busisiwe Mkhwebane’s fitness to hold office, should have due regard for the chilling effect that its decision may have on the effective exercise of the public protector’s powers by incumbents to that office. This is according to Constitutional expert Hassen Ebrahim, testifying on the second day of the inquiry into Mkhwebane’s fitness for the position. “Members of Parliament must subordinate their political interests, and the interests of their parties, to the ‘institutional objectives’ of holding the Public Protector to account and, ultimately, ensuring that the South African public is served as contemplated by section 182 of the Constitution and the PP Act,” he said. Ebrahim believed that “a particular individual” should not be equated with the office of the Public…

Six million deaths were recorded internationally, and 100 000 in this country GLOBALLY, most scientists and societies have rejected China’s zero-tolerance approach to the Covid-19 pandemic and its preparedness to shut down its economy and entire cities in an effort to curb the spread of the virus to protect its most vulnerable citizens. There was a similar lukewarm response last week in South Africa where a panel of experts, on a webinar convened by Higher Education Media Services, attempted to answer the underlying and pertinent question: “Is the Covid-19 pandemic over?” Following the re-emergence of Monkeypox and an outbreak of hepatitis among children in several Western countries, a further question arises: Has Covid-19 opened a Pandora’s box? Covid-19 has been dubbed a “clever” virus. Scientists have been astounded by its…

Sri Lanka’s president headed to a naval base yesterday hoping to flee his island by ship following a stand-off at the airport, officials said. Gotabaya Rajapaksa, 73, has promised to resign and clear the way for a “peaceful transition of power” following protests against him over the country’s worst economic crisis. The leader fled his official residence in Colombo just before tens of thousands of protesters overran it. He then wanted to fly to Dubai. As president, Rajapaksa enjoys immunity from arrest. He is believed to want to go abroad before stepping down to avoid the possibility of being detained. But immigration staff at Bandaranaike International withdrew from VIP services and insisted all passengers go through public counters. The presidential party were reluctant to do so. Attempts to arrange a…

MORE THAN 10 000 Public Servants Association and National Education, Health and Allied Workers Union (Nehawu) members working at the SA Revenue Service (Sars) recommenced their strike yesterday for an approximate 12 percent wage increase. This was according to Nehawu spokesperson Lwazi Nkolozi, who told Business Report that their members had decided to reject as “an insult” a 1.39 percent annual increase that had been proposed by Sars. Sars, in the meantime, yesterday advised the public not to come to its offices due to the strike. The tax authority said it did not decide on its own funding, but was dependent on an annual allocation made through a process managed by the National Treasury. “The demand of labour of CPI plus 7 percent is simply unaffordable…

GLOBAL oil prices continued to slide yesterday as mounting fears of a global economic slowdown weighed on the market. The price of Brent crude oil fell more than 5 percent to $101 (R1 717)per barrel in afternoon trade as China’s fresh Covid-19 restrictions could lead to a drop in fuel demand, while the energy crisis in Europe persists. This was the lowest the Brent crude price has been since April 11 while the West Texas Intermediate plunged 4 percent and fell below the psychological $100 level. ActivTrades senior analyst Ricardo Evangelista said oil prices dropped as the markets appeared increasingly convinced that a global economic slowdown was coming. “With inflation remaining high and forcing central banks and fiscal authorities to withdraw stimulus, an energy crisis in Europe…

THE DECISION to keep the Tiger Brands food-processing factory Langeberg-Ashton Foods open for another year was welcome news at a time when the economy was facing strain, Minister of Trade, Industry and Competition Ebrahim Patel said yesterday. Tiger Brands announced yesterday that it will extend operations at its deciduous fruit business Langeberg & Ashton Foods (L&AF) for a further season. It said the decision was taken after a compact was agreed with organised labour, L&AF employees and members of the Canning Fruit Producers Association, which allowed the company to undertake the significant risk required to operate the business for the forthcoming season. Tiger Brands said it would continue to engage with interested parties towards executing a transaction that could provide for the continuation of a sustainable deciduous fruit processing operation…

MEDICAL experts have warned members of the public and employees in the workplace that vaccination is still the best form of defence against Covid-19. This comes after Standard Bank announced that it would be withdrawing its compulsory Covid-19 vaccination policy. Standard Bank South Africa chief executive Lungisa Fuzile said that with 95% of its employees vaccinated, the financial institution had withdrawn its Covid-19 vaccination policy with immediate effect. “Based on the current context of the pandemic, we believe that our vaccination policy is no longer required. Consequently, it is no longer compulsory for employees to be vaccinated, or to produce a negative PCR or rapid antigen test if they are unvaccinated, in order to enter our premises,” said Fuzile. Fuzile added that the bank took a range of factors into…

I am trying to learn to walk in new ways. It is not about gait, shuffle, speed, distance or even direction. It is about overconfidence. I’ve been told, more than a few times, that I walk with overconfidence, an attitude, with presumption in my step, and, well, I am trying to walk with less of all of it. “Reduce the swagger,” I tell myself, “lower your levels of assumption and presumption.” It doesn’t come easily. This was first and powerfully expressed to me – or at least the first time I was in a position to hear it (others may certainly have tried) when I was travelling in the US, prior to living in the US. My travelling companions were very honest and we had a lot of time to…

The contents of the opinion piece lamenting what it called “the lost battle to get people vaccinated” (The Mercury, July 12) is a clear example of the narrative of silence. Although the writer acknowledges a “posture of hesitancy” that has manifested itself in South Africa and globally as people avoid the jab, she evades discussion of why that is the case. Like other opinion pieces on Covid and the vax that have saturated the mass media, it fails to acknowledge the basic fact that because 99% of people recovered from Covid, there never was a pandemic. It also glosses over the fact that none of the jabs, erroneously called vaccines, were subjected to standard rigorous testing over five years and are posing risks far greater than Covid. The most damning…

The fall of Boris Johnson has been likened to a Shakespearean tragedy, of a man who had the whole world at his feet, but through stupidity and foolishness, lost it all. Oh Boris, whatever ails you? Whyfore art thou such a scoundrel, Indulging in wine and revelry In the midst of a lockdown? Hast thou not an ounce of shame in your body To resist greed and temptation And be an exemplar to the nation? The British premier has been forced to quit, both as the leader of the Conservative Party and as the leader of the nation. The controversial, die-hard politician with his boyish, dishevelled hairstyle had withstood many an attack on his leadership. Ducking and dodging his way through numerous scandals, lies, deceptions and denials, he stubbornly clung…

THE vandalism of City of Tshwane infrastructure places the municipality under unbearable strain that affects service delivery and inconveniences citizens. This is according to the MMC for utility services and regional operations Daryl Johnston, who condemned recent vandalism of the Soshanguve electricity depot, where employees of the city were also attacked. These actions hampered the city’s ambitions to improve the provision of infrastructure because while new and upgraded facilities such as the Bronkhorstspruit substation were being unveiled, other facilities were being damaged, the MMC said. “I would like to condemn in the strongest of terms the attacks on city employees and the continued vandalism of our infrastructure, especially last Wednesday. Our buildings and vehicles at Soshanguve substation were damaged by community members who were attempting to prevent load reduction of…

The SACP looks set to discuss the possibility of contesting the 2024 general election on its own following growing calls from certain sectors of Cosatu- affiliated unions. In Gauteng in the past months, Cosatu was the only sector that came out publicly to support the move, while its national leaders shelved the plan for such talks to be part of the discussions at the national congress scheduled for September. As the SACP congress takes place today until Saturday, members are expected to revive the song We Want State Power, popular during the party’s 14th national congress five years ago at the Birchwood Hotel in Boksburg. The SACP is gathering at the same venue for four days, and again its leaders have admitted reviewing their relationship with the ANC and alliance.…

A MEMORANDUM once again calling for the renaming of Cape Town International Airport to Krotoa Airport is set to be handed to the Minister of Sport, Arts and Culture Nathi Mthethwa next month. Numerous calls had been made in the past for the name change, however, the department had stated that the public consultation process reached no consensus, leading to the renaming effort being abandoned. Krotoa was a Khoisan woman who worked as a servant in Jan van Riebeeck’s household. It is reported that she was instrumental in working out terms for ending the first Dutch-Khoi war in the Cape. Now indigenous Khoisan groups say they believe renaming the airport after one of their own is critical to the preservation of their heritage. Director of the Krotoa Foundation, Benjamin Marsala,…

THE KwaMdlose tavern where 16 people between the ages of 19 and 35 were killed following a shooting in the early hours of Sunday was not merely a drinking place, but a place for locals to watch soccer and soapies and play snooker. Most of the patrons came from poor backgrounds and did not have electricity and TV to watch at their homes. Many community members who lost their loved ones said their children played snooker to amuse themselves and pass the time as the area lacks facilities for young people. Zingisile Golimbi, father of 19-year-old Simthembile Gamade, said his son did not drink alcohol. He said his son loved to play snooker and died after he had left home for his last round of the game. “My son did…

Saudi Arabia’s powerful crown prince Mohammed bin Salman has emerged unbowed from the international outrage over the killing of journalist Jamal Khashoggi four years ago, as Western leaders who once tried to isolate him now seek his support. US President Joe Biden, who has accused the prince of ordering Khashoggi’s murder and said Saudi Arabia should be made a pariah, will visit the oil-producing kingdom on Friday hoping for a respite from soaring global petroleum prices. He follows in the footsteps of European leaders who condemned the 2018 killing of Khashoggi by a Saudi hit squad in Istanbul but accept they cannot ignore the global energy giant and its de facto ruler. Only aged 36 and nominally still waiting to inherit power from his elderly father King Salman, the princehas…

FORMER British finance minister Rishi Sunak, the favourite to become Britain’s next prime minister, kicked off his campaign yesterday promising “honesty”, in a increasingly testy and divisive battle to succeed Boris Johnson. An initial 11 candidates put their names forward to become leader of the governing Conservative Party and Britain’s next premier after Johnson was forced to say he would step down when support drained from him over a series of scandals. Only those who get nominations from 20 of their 358 Conservative colleagues in parliament will go forward to the first vote today. The field will be then be quickly whittled down a final two, with Conservative Party members making the final decision. Transport minister Grant Shapps became the first to end his bid, throwing his support behind Sunak,…

One thing is certain - Mamelodi Sundowns have been busy in the transfer market as they look to add to their five titles on the trot. Masandawana are also aware that they must look to improve their squad if they are to finally land a first CAF Champions League crown since 2016, next term. Downs are believed to be on the verge of signing Morocco international Abdelmounaim Boutouil, and should the deal go ahead, the 24-year-old will become the first player from the North African nation to feature in the South African top-flight. Boutouil previously played in Europe, for Union Saint-Gilloise, and could be an ideal replacement for Ricardo Nascimento, who left the team in January to link up with Royal AM. Masandawana are also believed to be closing in…

The voice of club rugby in South Africa has been silenced, but the legacy of Jos Robson will forever endure. Jos, at age 75, has succumbed to the cancer he lived so positively with for the last three years. And he was defiant to the end – in fact sending me what would be his last club rugby column for publishing in The Mercury about 24 hours before he died. Can there have been a more loyal servant to the game? Club rugby and Robson are synonymous – they are one and the same – and after his 45 years of incredible service to the grassroots game, you wonder how many former players have newspaper clippings tucked away somewhere after Robson first put their name in lights in The Mercury.…

Former Orlando Pirates defender Thulani Hlatshwayo has lifted the lid on his exit from the Soweto giants and expressed his displeasure with not being offered enough opportunities to prove his worth. Tyson was announced as the first signing of the new Gavin Hunt era at SuperSport United on Monday, the pair reuniting after having had a successful period in which they had won the a league and MTN8 title at the now-defunct Bidvest Wits. Both Hunt and Hlatshwayo made an appearance on an SAFM radio show on Monday evening, and the defender finally opened up on a fairly poor stint in the black and white of Pirates. “I’m very relieved after leaving Pirates and joining SuperSport. It was a tough period for me, especially after the game against (Kaizer) Chiefs.…

LOAD SHEDDING could be the death knell for job creation efforts in South Africa and could possibly rise the rate of unemployment back above the 35 percent mark as small businesses are forced to close shop during ongoing power cuts. This comes as Eskom yesterday said it would implement Stage 3 load shedding today and tomorrow due to deteriorating generation capacity. However, the struggling power utility said load shedding would be eased to lower levels throughout the week as some units return to service. South Africa’s unemployment rate stands at a staggering 34.5 percent, the highest rate of joblessness across the world. Daniel Goldberg, co-founder and chief executive of Bridgement, a fintech credit provider to small businesses, yesterday said load shedding was significantly affecting small businesses that…

MANUFACTURING production in South Africa is expected to continue on a downward spiral on the back of crippling power cuts in spite of falling less than expected in May. Data from Statistics South Africa (StatsSA) yesterday showed that manufacturing output shrank by 2.3 percent from a year earlier in May as half of the manufacturing divisions recorded a decline in activity. This was slightly better than market forecasts of a 2.4 percent decline, but marked the third consecutive month of contraction in manufacturing activity following a significant downwardly revised 7.6 percent slump in April. The Don Consultancy Group chief economist Chifi Mhango said the manufacturing print in May declined at a slower pace than in the previous month, thus reflecting a slight recovery from the negative impact…

MINING group Harmony Gold said yesterday that it met its annual production guidance and, for the first time, had a loss-of-life-free January and February this calendar year. It achieved its revised 2022 production guidance of between 1 480 000 and 1.56 million ounces. Harmony said in a statement the South African underground assets per- formed well amid tough operating conditions. In Papua New Guinea, its Hidden Valley mine resumed full production after the overland belt failure in January. “This strategically important asset performed well in the fourth quarter, with good prospects for the new financial year. We continue to progress the Special Mining Lease for the Tier 1 copper-gold Wafi-Golpu project,“ it said. Chief executive Peter Steenkamp said: “Financial 2022 has been a year in which Harmony has again…

WE’RE eight hours late with the southbound mail We’ll be on time or we’re leavin’ the rails … A GOODS train derailed at Nottingham Road, in the Midlands, the other morning, apparently after running out of control. Reports were sketchy at time of writing but the driver and his assistant are said to have jumped from the train when it failed to respond to controls. It derailed about 4km on in a terrible tangle, but the driver and his mate have survived. It brings to mind the Ballad of Casey Jones, set around Mississippi, in the US. The man at the throttle was Casey Jones The engine rocked, the drivers rolled … There’s ridges and bridges, and hills to climb Got a head of steam and ahead of time. Ahead…

It is unconscionable that in this day and age we still read reports of young, healthy men dying from botched circumcisions during their initiation rites. Illegal initiation schools in the Eastern Cape alone account for eight deaths, and one must wonder about similar tragedies in other provinces that haven’t made headlines. Clearly it is an ongoing problem for the authorities as every year these unnecessary deaths and maiming of young men can so very easily be avoided but for the obstinacy of the ANC who refuse to consider the purchase and distribution to the initiation schools of a simple, inexpensive gadget called a PrePex circumcision device. This simple and safe gadget has been on offer for many years, so why do the health authorities refuse to use these? Simply because…

Why is it that many people in the country seem to regard ministers and MECs as demigods? After all, they are only elected servants of the public, appointed by their party to formulate and manage policy for the state functions entrusted to them on behalf of the ruling political party. Watching TV and listening to the radio, I am surprised at the fawning approach adopted by many interviewers towards ministers and MECs, when the main purpose of the interview is to question certain actions by our public representatives that do not sit well with the public. Hardly ever is a direct approach adopted to “nail down” the minister concerned to answer the question directly. Perhaps this “fawning” approach encourages some ministers to regard themselves as “demigods” and being beyond criticism.…

THE Western Cape Education Department (WCED) has rejected claims that it is not giving schools sufficient resources for maths and science, even as the number of pupils dropping the subjects remains high. According to the department, Covid-19 – which saw rotational timetables being introduced – the loss in teaching time and curriculum coverage contributed to pupils changing from the subjects to “boost their total scores and to be able to access higher education institution”. In Grade 12 this year, 3 373 pupils switched to maths literacy, with the figure for last year being 3 857, and 3 484 in 2020. Education MEC David Maynier said post-pandemic, the WCED had developed plans to support the recovery process in classrooms, as basic content and skills gaps still remained. Maynier was responding to…

The matter of self-styled “Prophet” Shepherd Bushiri and pastor Tim Omotoso, whose documents in South Africa were found to have been attained irregularly, is what sent Home Affairs Minister Aaron Motsoaledi on a mission to discover the truth behind the flaws in the system that enabled it. This came to light yesterday as Motsoaledi briefed the portfolio committee on a report which reviewed permits issued by the Department of Home Affairs. He had established a ministerial committee last year to review the issuing of permanent residence permits, corporate visas, business visas, critical skills visas, study visas and retired persons’ visas and citizenship by naturalisation between the period October 12, 2004 and December 2020. However, because the records from 2004 to 2014 were still manual, the review was done for part…

The history of human development and consequently the development of nations has proved beyond reasonable doubt the necessity of building strong partnerships and relations in order to achieve sustainable and meaningful growth and progress. We have enjoyed a long and worthwhile relationship with China, going as far back as our days of fighting against the brutal apartheid regime and leading up to formal diplomatic ties that were established in 1998. The overall trade volume between South Africa and China reached $54.35 billion (roughly R932bn) last year. China has emerged as a significant export market for South African agricultural products such as beef, citrus, red wine, oysters and many others. South Africa has been an attractive destination for Chinese corporates that want to expand their businesses and this has resulted…

Kyiv said yesterday it had launched artillery barrages that destroyed a Russian arms depot and carried out a “special operation” to free military captives in the Moscow-controlled Kherson region. The bombardments in the south came as the EU green-lit €1 billion (R17bn) in aid for Ukraine, and Turkey announced that delegations from Moscow and Kyiv would meet in Istanbul today to discuss the resumption of stalled grain deliveries across the Black Sea. Ukrainian military officials said the strikes had destroyed artillery, armoured vehicles “and a warehouse with ammunition” in Nova Kakhovka. Russian-backed authorities, however, accused the Ukrainians of damaging civilian infrastructure and killing at least seven people. Ukrainian military intelligence said that its troops had rescued five people in a “special operation” in Kherson. The deputy head of the pro-Russian…

DAR ES SALAAM: The Democratic Republic of the Congo (DRC) this week became the seventh full member of the East African Community (EAC). Tanzanian President Samia Suluhu Hassan said the DRC’s admission to the regional bloc will be a new milestone in the integration. She reiterated Tanzania’s commitment to working closely with all EAC member states toward taking the integration to higher levels. Rwandan President Paul Kagame welcomed the progress made in admitting the DRC to the regional economic bloc. The EAC groups Burundi, Kenya, Rwanda, South Sudan, Tanzania, Uganda and now the DRC. | Xinhua…