Sommaire pour 2024-07-05 de Star

Sentiment among CEOs of leading companies in South Africa has remained optimistic about economic and market conditions on the back of a stable political environment and electricity supply since the formation of the Government of National Unity (GNU). The Merchantec CEO Confidence Index released yesterday recorded a 13% increase in CEO confidence, rising to a score of 51.4 points in the second quarter. This improvement was driven by a 24% increase in the consumer staples sector and the recent absence of load shedding after Eskom suspended rotational power cuts in the second quarter. The index is a quarterly copyright report that has collated the views of CEOs of listed, large private and multinational companies in South Africa since 2009. It is compiled by Merchantec Capital, a mergers and acquisitions specialist…

THE SA Farmers Development Association (Safda) and SA Canegrowers have successfully resolved a recent impasse regarding millions of rand in transformation funding. Sugar industry players in South Africa were at loggerheads last week over the funding, and allegations of fronting and racism against black small-scale growers. Sugar industry transformation interventions were introduced by the sugar industry in November 2018, championed by Safda. The total agreed amount of the fund was R1 billion over five seasons, which translated into just over R200 million per season. Contributions making up the transformation fund are extracted from levies contributed by all sugar industry members. Safda last week accused the SA Canegrowers industry association of “fronting”, and “condemned” what it called “disturbing anti-transformation tendencies”. However, Safda executive chairperson Dr Siyabonga Madlala said yesterday that “these…

Underpinning much of the South African agriculture sector’s excellence is fit-for-purpose regulation that ensures a healthy seed industry. The regulations guarantee that seed to farmers is stable, meaning the same popular crops are generally available, along with improved ones each season. They also guarantee that the seed is of high quality, covers a broad range of crops and that imported seed is free from potentially harmful pests. Because of this, the seed sector significantly contributes to the economy. In 2022, South Africa’s seed industry was worth a staggering R10 258 426 000. Its value has also grown year-on-year and a significant reason for this has been a regulatory environment which has ensured the market for seed is a competitive one. Our seed legislation and regulation also set…

As a South African investor, there are several ways to gain offshore exposure, namely investing directly in an offshore fund or investing in a feeder fund. The investment decision to determine which of these is most appropriate involves some considerations. Are the two investment routes similar? The main similarity is that they both provide an investor with offshore exposure to foreign markets. How do they differ? The first distinction lies in how offshore markets and funds are accessed. Direct Offshore Fund: South African residents over the age of 18 are allowed to remit R1 million per calendar year under the Single Discretionary Allowance and an additional R10 million per calendar year under the foreign investment allowance, known as the Approved International Transfer (AIT), which requires approval from Sars. The AIT…

Tongaat Hulett’s Zimbabwean listed unit – Hippo Valley – has had to divert domestic market volumes to the export market owing to decreasing local sales due to unfriendly fiscal conditions that drove up the cost of doing business during the year to end-March. Hippo Valley and non-listed Triangle Sugar Corporation make up the Zimbabwe operations for troubled Tongaat Hulett. The company opted to skip a dividend for the year under review. Hippo Valley reported on Wednesday that volatile Zimbabwean “exchange rates and high inflation disrupted liquidity flows” were factored in for the company during the period under review. This had created cash-flow gaps which the company plugged with utilisation of short-term loans with financial institutions. These financial institutions, battling a liquidity crunch, struggled “to satisfy working capital” requirements. “The operating…

Although South African mining companies registered a 6.6% year-on-year rise in input costs, in May there was a 0.6 percentage point deceleration on a month-on-month basis as gold miners continued to face average input-cost inflation. Apart from battling logistical constraints such as bottlenecks in rail and port efficiencies, South African miners are having to contend with rising costs. In May, the Minerals Council yesterday said, mining costs rose 6.6% compared to May, 2023. This does not bode well for employment in the industry that is already forced to retrench thousands of workers due to loss-making shafts and low commodity prices. “One of the main factors driving input-cost inflation in May was the 2.6% increase in prices for other chemicals and man-made fibres. This category includes mining chemicals, chemical catalysts, and…

SOUTH African actress Angela Sithole recently made her debut on the action-packed drama series. Previously in The Queen, she plays Winnie Bhodoza, Khaya Bhodoza’s (Siyabonga Thwala) regal wife. Sithole is no stranger to TV. She got her first big break on the 2013 drama, Zabalaza, and has gone on to star in other local productions like Savage Beauty, In The Dock, Binnerlanders, Imbewu and Isibaya. Describing her latest role, Sithole said in a statement: “Winnie is a very strong character and will do everything to ensure that the Bhodoza name remains clean in the public eye. “She’s very charming, persuasive and does what she needs to in order to get her way.” Sithole said that she wanted to be a part of the show because of its beautiful storyline and…

Avocados are popular all over the world. Nutritious, versatile and delicious, they have become a kitchen staple in many homes. Whether you are vegan, vegetarian or just trying to eat more plant than animal products, avocados are extremely nutritious and have been linked to several health benefits. Their rich and creamy deliciousness birthed what most people enjoy today – avocado toast. It has become a popular choice for breakfast or a quick and nutritious snack. From savoury additions like tomatoes, eggs and seasonings to adventurous twists such as fruity salsas, there are infinite toppings available to satisfy your avocado toast cravings while delivering a wholesome blend of healthy fats, proteins and carbohydrates. Below are six ways to amp up your avocado toast game: Sprinkle with spice A sprinkle of…

‘There were no reasonable prospects of a successful prosecution’ There were mixed feelings among organisations combating gender-based violence (GBV) after the National Prosecuting Authority (NPA) announced that it was withdrawing all charges against television presenter and rapper Molemo Maarohanye, also known as “Jub Jub”. The NPA in a media statement yesterday said the decision followed careful consideration of the police case docket, the prosecutor’s report and recommendations, coupled with information that was made available to the institution through representations submitted by the defence to the office of the Director of Public Prosecutions (DPP). NPA regional spokesperson Phindi Mjonondwane said the office of the DPP had concluded that there were no reasonable prospects of a successful prosecution. As a result, the sensible thing to do was to withdraw the charges of…

Gauteng police said illegal mining operation, Vala Umgodi, remains steadfast in stabilising levels of the illegal mining scourge in Ekurhuleni. The integrated operations, comprising SAPS, Ekurhuleni Metro Police Department (EMPD) and other law enforcement agencies, continue to make strides in the enormous fight against well-equipped zama zamas. On Wednesday, the net closed on 29 suspects who were operating illegally in a mine in Boksburg policing precinct. Among the suspects; two were arrested for illegal mining Act 20 of 1991, one for possession of drugs and 26 for illegal being immigrants. Police seized illegal mining tools including gold bearing material, spades, hammers, pendukas, gas cylinders, gas bottles, stampers, crush pots, penduka stands, generator, steel balls and liquor. Ekurhuleni District Commissioner Major-General Anna Sithole applauded the team spirit shown by members…

In 2019, Mphahlele twins Masego and Matlhogonolo were playing a school soccer match in Hammanskraal when one of their teammates was injured. The injured player was rushed to hospital, but waited for hours before an X-ray scan could be taken. There and then, the twins wished there was a device that could take instant X-ray scans quickly. Fast-track to 2024, and the twins, now 22, have launched Digital X-Ray Glasses at Innovation Hub in Pretoria through their company, aptly named Twin X Innovation. The cutting-edge innovation promises to transform the medical field, offering unparalleled convenience and efficiency in medical imaging. The Digital X-Ray Glasses perform the function of an X-ray machine efficiently and effectively and reduce what is traditionally a large machine down to a pair of glasses. They…

The fourth installation of Aero South Africa 2024 that is taking place at the Wonderboom National Airport has the potential to bring about economic benefits for the City of Tshwane and to create much-needed jobs. This was said by the MMC for economic development and spatial planning, Hannes Coetzee, who has been part of the three-day event that has attracted aviation enthusiasts from different parts of the country since its official launch on Wednesday. Billed as the largest general aviation trade show in southern Africa, the event is hosted by the Wonderboom National Airport and Messe Frankfurt SA. Known as a networking event and not a public air show, the expo has the potential to facilitate access for young people and emerging businesses to the aviation sector. Organisers described it…

As July is famously dubbed “Mandela Month” to celebrate Nelson Mandela’s humanitarian work and birthday, many South Africans offer their themselves for community service in the spirit of Ubuntu and togetherness. Thus, Ayanda Siswana from Flow Communications has outlined a slew of activities to consider to mark the occasion. She said that people can volunteer to help clean their neighbourhood and be advocates of the environment. One can spend time with the vulnerable by visiting orphanages and old age homes. “You can play games, read to them, or just having a conversation could really brighten their day. “This is about remembering everybody in your community, and reminding marginalised people that they belong,” said Siswana. Be a community activist by either joining a sanitary pad drive or donating sanitary towels…

A recent Dating.com survey revealed that 86% of single women prefer men with facial hair as it makes them appear more masculine and mature. The researchers also said on average, men with facial hair in one or more dating profile pictures received three times more matches than those without. However, proper grooming is also important: 77% of respondents shared that it’s a turn-off if the beard or moustache isn’t properly groomed. Nearly half of those surveyed reported that while they enjoy facial hair, they prefer a beard and moustache combination over a moustache alone. Less than 5% said they would not date someone with facial hair. A fuller beard is also perceived as indicative of good fathering ability and greater investment in offspring. And the…

IF ‘cocky’ was a person, he would respond to the call of Onalenna Khonkhobe. Such is the self confidence of the Nedbank Running Club athlete. At the launch of the 2024 African Bank Soweto Marathon at Sakhumzi Restaurant on the world renowned Vilakazi Street in Orlando West, Khonkhobe declared himself champion of the race set to take place on November 3. Forget that the 27-year-old has never run what is commonly considered the country’s toughest marathon. Forget too that seated right next to him was the race’s defending champion Ntsindiso Mphakathi of Entsika Athletics Club. None of that bothered Khonkhobe as he repeated what is fast becoming his mantra by describing himself as ‘the head of the table’. “On November 3, this (guy) will be my cameraman. It will be…

The National Employers’ Association of South Africa (Neasa) yesterday provided clarity for all affected parties on the relevant deadlines and periods of validity of the Zimbabwean exemption permits (ZEP) dispensation. There are more than a million Zimbabweans living in South Africa, according to South Africa’s census data. It said for the current holders of the original ZEPs, the deadline has been extended and was valid until November 29, 2024. Current holders of the original ZEPs were entitled to apply for new exemption permits, while new exemption permits issued were valid until November 29, 2025. It said the original ZEP holders who had already applied for waivers and for other visas did not have to apply for the “new” exemption permits; and therefore, if an original ZEP holder had applied for…

South Africans are increasingly buying down on chicken products to stretch their money as the soaring cost of living continues to place severe pressure on household budgets. This is according to the latest import statistics released yesterday and compiled by food distributor, Hume International. The data showed that total import volumes of whole birds had nearly tripled compared with the same period last year, and the total import volumes of chicken wings and drumsticks-products typically used by local manufacturers to supply fast-food chains, effectively doubled and leapt 94.08% and 108.74% year-on-year, respectively. Hume International operations and logistics director Roy Thomas said these shifts first served as evidence of the real impact of the bird flu outbreak in South Africa during the latter months of last year. “Imports have always bridged…

The National Debt Counsellors Association (NDCA) has warned that many of their consumers, particularly homeowners, were seeing their combined spending on electricity, rates, and other municipal service charges in many cases was more than what they spent on their bond repayments. NDCA chairperson Benay Sager said yesterday that South Africa should strive to reverse the situation over the next few years in such a way to help all consumers, particularly homeowners, to build wealth and build some equity in their homes. “If the situation carries on and operational expenses such as rates, electricity, water, and all other municipal service charges continue to exceed the amount that we’re paying for a bond, it just makes it more and more difficult, not only for current homeowners but also to attract future homeowners,”…

How the F(inance) does one talk “money” with one’s kids? A 2024 Her Money Mindset survey suggests as many as 20% of parents don’t talk “money” with their children. A T Rowe Price study found that 41% of parents feel anxious to discuss finances with their kids. Honest money conversations are critical to instil foundational financial literacy. More than that, they can bring families closer together and normalise “money talk” early on. The bottom line? It’s time to talk about Project F – finances. Speaking about finances makes money less intimidating and familiarises kids with the foundational concepts from the get-go. This is exactly what Sanlam’s Project F campaign aims to achieve. We want to get people to speak about money more. This is directly linked to improved mental health,…

Absa in partnership with Ozow are introducing Absa Pay, a new payment solution, it said in a statement. By integrating Ozow’s platform with Absa Pay, both companies aim to improve the digital payments ecosystem. “This alliance is facilitated through South Africa’s leading proprietary open banking-payments interface, reflecting a significant shift in how South Africans interact with their banks and conduct transactions,” they said. Open banking, which allows third-party developers to create apps and services around financial institutions, offers safer and more user-friendly payment options. According to the World Pay Global Payments Report 2024, Pay-by-Bank is the second most preferred method for e-commerce purchases in South Africa, capturing 22% of the market share – just 2% behind debit-card payments. Absa Pay provides a fast, simple, user experience. It guarantees settlements (subject…

Sean “Diddy” Combs is being sued by another woman over alleged grooming and sex trafficking. The scandal-plagued Bad Boy Records founder, 54, who is facing a litany of sexual assault cases, has been hit by a fresh lawsuit filed by former adult actress Adria English, who says Combs hired her to have sex with revellers at some of his parties and allegedly threatened to blackball her and her model boyfriend if she didn’t comply. English added in her court papers, obtained by TMZ, that she first met the rapper around 2004 when her boyfriend was auditioning for a Sean John modelling job. She says in her papers her boyfriend and another model were asked to perform a sex act on Combs in order to get the job. English – who…

South Africa’s favourite podcasters, Macgyver Mukwevho, also known as MacG, and Sol Phenduka are currently out of the country. The duo attended the BET Awards in Los Angeles in the US where they produced content for their popular Podcast and Chill. They reported live from the red carpet and got to interview some of the biggest names in entertainment. The pair also recorded episodes for the podcast while in America. They got to interview rapper Papoose as well as Love and Hip Hop star, Jim Jones. During their time in California, MacG and Phenduka visited the Holly- wood Walk of Fame, where they spotted the star wrestler-turned-actor, Dwayne Johnson. Phenduka rubbed shoulders with Common, and even got a selfie with the American rapper, which left him very “star-struck”.…

The DA in Gauteng says its provincial legislature member, Refiloe Nt’sekhe, who was recently elected as the new Deputy Speaker of the Gauteng Legislature, will be resigning after negotiations with the ANC to form a government of provincial unity (GPU) deadlocked. In an interview with broadcaster Newzroom Afrika yesterday, DA leader in Gauteng Solly Msimanga said Nt’sekhe will be announcing her resignation “very soon”. “The DA is not going into this for the sake of adding numbers or just wanting positions for the sake of having those positions. We want to be there strategically, to bring in the changes that we said we wanted to bring in. Therefore, the positions that we were seeking to get were supposed to be complementary to each other,” said the former Tshwane mayor. “There…

While Joburg residents lament the new electricity surcharge of R200 for prepaid users, including a 12.7% tariff increase, the GOOD Party rejected the notion and slammed parties and organisations claiming it had voted for the tariff increase. GOOD emphasised its opposition to the surcharge, noting its absentia when the council approved the Budget as its former councillor Lloyd Phillips was fired. GOOD’s national chairperson and newly appointed councillor, Matthew Cook, rubbished ActionSA and the Organisation Undoing Tax Abuse (Outa) including the Sowetan newspaper for spreading misinformation that the party supported the surcharge. “It’s extremely disappointing that those who have been spreading this false information, including ActionSA, Outa and the Sowetan, clearly did not do their homework and confirm the information independently … The Sowetan has since agreed to correct its…

YOUNG children in Krugersdorp are breathing in uranium, arsenic and mercury fumes wafting over from abandoned legacy mines, while pollutants are seeping into the groundwater and nearby dams and lakes, warned Dr Alseno Kagiso Mosai, a water remediation expert in the University of Pretoria’s (UP) Department of Chemistry. “If this is not treated now, the effects of legacy mines will continue and the impact will be much more severe,” he says. “This means that the government will need large amounts of money to clean the water in order to bring it up to the standard needed for households.” Mosai said that while the mining companies responsible for the pollution are often nowhere to be seen, it is ultimately up to the government to fund acid mine drainage (AMD) clean-ups in…

THE Curated Collection, now live at Brooklyn Mall in Pretoria, is a dynamic partnership between the centre, The Scoin Shop, 67 Blankets for Nelson Mandela Day and Embassy Direct. The talented students from Stadio School of Fashion were challenged to reimagine handcrafted items made by 67 Blankets for Nelson Mandela and deliver a fusion of fashion and yarn designed to captivate patrons. Up-and-coming couturiers are competing for bragging rights and cash prizes. Anna-Mari Pretorius, an industry expert, mentored the students, who tapped into their creativity to deliver a unique take on the heritage handicraft skills of knitting and crocheting. “This wonderful collaboration set the stage for young design talent to get a different perspective on wool. It was a delight working with a group of motivated young people, who spent…

Anti-gender violence (GBV) advocacy organisation, the 1000 Women Trust, has launched yet another initiative to combat rising incidents of bullying across schools. The trust launched the Paws and Peace Corners project in partnership with the Badisa’s Little Seeds early-childhood development centres (ECDs), and Max and Me. According to the 1000 Women Trust, its Paws and Peace Corners initiative was designed to teach South African children to deal with emotions and develop healthy ways to manage anger and stress. The initiative will officially be activated on July 18, Mandela Day, across the country, where children spend most of their time in locations such as ECDs, classrooms, offices, police stations, hospitals, and doctors’ rooms. 1000 Women Trust executive director Tina Thiart said that through the initiative, the organisation was aiming to…

Stocks on the JSE hit an all-time high yesterday as investors were buoyed by continued optimism about potential interest rate cuts this half by the US Federal Reserve (Fed). The JSE All-Share Index rose 0.9% to 81 155 points yesterday, reaching record-levels, as the Federal Open Market Committee (FOMC) minutes on Wednesday night showed Fed officials sticking to their cautious outlook with only one rate cut this year. Markets, however, are betting on more cuts given recent data showing both a cooling economy and a slowing labour market in the US. AdvTECH and Vodacom led the charge yesterday, both rising 4.3% followed by Equited, Karoo and Impala Platinum gaining 3.6%, 3.5%, and 3.3% by 5pm, respectively. Investec chief economist Annabel Bishop said there was now 100% certainty of the…

Through the combined actions of the City of Johannesburg, City Power and the National Energy Regulator of South Africa (Nersa), residents are facing a looming, dire cost-of-living crisis. Just when residents thought there was light at the end of the tunnel, City Power has pulled the rug out from under them with the stealthily executed introduction of load reduction – otherwise known as load shedding. Claims that the move was necessary due to increased electricity usage during the winter months seem disingenuous. Temperatures have dropped, people are staying indoors more and they need to keep warm. Consequently, electricity usage is bound to increase. This begs the question: How is it possible that, despite their many years of combined experience, neither Eskom nor City Power had made any contingency plans to…

PETRA Diamonds said yesterday that there has been “continued softness in demand for stones between 1 and 10 carats”, worsened by seasonal weakness in diamond prices. This comes after the company last month said it was extending the life of its South African mines after scaling back operating costs by $30 million (R550m) from 2025 onwards. Apart from operating Cullinan and Finsch mines in South Africa, Petra Diamonds also runs the Williamson mine in Tanzania. Under its latest diamond auction for the month of June, 2024 Petra Diamonds earned $37m, it said yesterday. This brought up the company’s revenue, for its 2024 full-year trading period, to $366m, which is higher by about 13% compared to the 2023 full year. Petra Diamonds CEO Richard Duffy said yesterday that he now expected…

US OFFICIALS reported on Wednesday their country’s fourth human case of bird flu linked to the outbreak of the virus in dairy cattle. As with previous cases, the person worked on a farm and was exposed to infected cows, the US Centers for Disease Control and Prevention (CDC) said in a statement, adding that the risk to the general population remained “low”. The infection occurred in Colorado and the affected person, who only had eye symptoms, was given antiviral medication and has since recovered, it said. A first US infection in the southern state of Texas was announced on April 1. Two other cases were subsequently reported in Michigan. Numerous herds of cows are infected across several American states, an epidemic that was first detected in March. Experts are concerned…

Local comedian Bash with Tash is set to open the Jokers in July comedy extravaganza with a ladies’ night. The social media sensation, whose real name is Natashia Portrag, will take to the stage tomorrow, in a show exclusively for women over 21. She told Independent Media Lifestyle that the show aims to empower women from all walks of life. “Getting that number of women into one room is always an achievement and I’m really excited about it.” Portrag said the decision to make the show exclusively for women is because she believes they are the backbone of society and they deserve a night out, filled with laughs and enjoyment. “Women go through a lot and we are pulled in many different directions because we have to focus on lots…

NEWLY-elected Sports Minister, Gayton McKenzie, has announced that he will donate 100% of his parliamentary salary to the Joshlin Smith Foundation for missing children. The Patriotic Alliance (PA) leader is set to earn R1.27 million annually from the ministerial position he is expected to occupy for the next five years. McKenzie said he was not in it for the money; his goal was to change people’s lives. “One hundred percent of my salary, I’m giving it to the Joshlin Smith Foundation for missing children, for the duration of my stay in Parliament. “One hundred percent of my salary, not 80% or 50% … Because I’m not here for money, I’m here to change lives of our people,” he said. In March, McKenzie announced that he would be putting up a…

THE Caribbean Philosophical Association (CPA) has named Professor Noel Chabani Manganyi as one of the 2024 recipients of the Frantz Fanon Lifetime Achievement Award. The award was conferred during the CPA annual conference last week in Quintana Roo, Mexico. Previous winners include South African philosopher Professor Mabogo Percy More, feminist philosopher Linda Martin Alcoff, and academic activist Angela Y Davis. The Frantz Fanon Lifetime Achievement Award honours the recipient for the importance of their work to the association’s ongoing project of “Shifting the Geography of Reason”. Given that Manganyi is a clinical psychologist, his contributions speak to Fanon’s legacy as a clinician, scientist, philosopher, and freedom-fighter. Moreover, Manganyi’s work as an author, biographer and social critic bears testament to his contribution as a thought leader, and his own legacy as…

Some South Africans are still earning big pay cheques, including an occupation that will pay people over R200 000 a month. This is despite a drop in salaries in the country. Data from the StatsSA Quarterly Employment Statistics (QES) showed that the average formal, non-agricultural salary decreased from R26 822 in Q4 2023 to R26 791 in Q1 2024. This is a 0.1% decrease in salaries. Although salaries in the country have lowered, there are some SA occupations that pay good money. Salary Explorer, a salary comparison site, has revealed the jobs that pay the most money in South Africa. The site uses information sent in by their users, as well as their own database of salary information gathered from recruitment agencies, companies and employers to generate the results.…

American diplomat and political scientist Henry Kissinger once said: “A country that demands moral perfection in its foreign policy will achieve neither perfection nor security.” South Africa’s foreign policy has been marred by a lot of confusion and inconsistencies, especially under the leadership of Cyril Ramaphosa. He has not effectively interpreted his understanding of SA’s foreign policy. I am worried that our foreign policy is becoming too obsessed with Israel. The main purpose of our foreign policy is to satisfy domestic and developmental priorities. What we do outside our territorial borders should help eradicate poverty and end the marginalisation of the poor. We can use our foreign policy to co-ordinate and consolidate economic and political partnerships across the world. The partnership foreign policy helps establish should be able to create…