Sommaire pour 2024-07-30 de Cape Times

Optimism about global growth prospects this year and next is building among hundreds of economists polled by Reuters, with risks tilted toward higher inflation even as they cling to their forecasts for interest rate cuts. While most major central banks were successful last year in taming rocketing inflation rates with rapid rate hikes, a resilient global economy with strong employment and wage growth has kept alive risks of price pressures surging again. In all, a 56% majority of economists – 114 of 202 who responded to a question about inflation in the global poll covering nearly 50 top economies taken July 8 to 25 – said it would probably be higher than they forecast for the remainder of the year than lower. So too with rates. The global economy was…

Meet Ochich Magero. Every time my path crosses with Kenyan multihyphenate innovator and entrepreneur Magero I leave insight-rich. When we first met in February 2017, he and Berthin Ntekezere were intent on breaking the monopoly of foreign participation in Africa’s tech venture capital scene. I remember being struck by the audacity of their aspiration and, frankly, given how closed that posse was at the time, sensing they were going to struggle. And struggle (and fail) they did. However, what has been instructive is watching Magero, with whom I’ve kept in touch, glean lessons from failures and evolve his entrepreneurial outlook and practice. Magero’s eclectic professional experience spans the private, non-profit, for-profit, and government sectors in Africa. He advises and serves on the boards of several start-ups and has worked closely…

Pan African Resources raised its gold production by 6% to 186 039 ounces in the full year to June 2024, selling its bullion for the period at an average price of $2 021 per ounce or R1.2 million per kilogram. The company’s average rand price per kilogram was calculated at an exchange rate of R18.71/$1, it said yesterday. Its Barberton Mines unit produced 71 470oz compared with 64 586oz in the previous year while Evander Mines underground output rose from 40 175oz last year to 40 869oz during the year to June. Output from the Barberton Tailings Retreatment Plant was however lower at 18 888oz compared to 19 875oz a year earlier, although production from Elikhulu strengthened to 54 812…

Eggs have been a dietary staple for centuries, cherished as a versatile and nutritious food. Yet misconceptions surrounding eggs, particularly the cholesterol content and impact on heart health, continue to confuse. With wellness often conceptualised through the triumvirate of physical, mental, and social health, the dietary choices one makes can significantly impact this holistic balance. Among the myriad of nutritional options, eggs stand out not just as a dietary staple but as a powerhouse of nutrients that remarkably support the three pillars of health. Physical health Eggs, often referred to as nature's multivitamin, pack a dense concentration of nutrients essential for various aspects of physical health. Each egg is a source of high-quality protein, presenting all nine essential amino acids necessary for muscle repair and growth. This makes eggs an…

With winter in full throttle and most people pushing sustainable fashion, there has been a rise in crocheted hats. Crafters and dressmakers are riding the crochet wave and making trendy, bouncy hats. But these hats are not your usual beanies, they look like bucket hats with ruffles and, of course, are handmade. South African brand Studio Bananaaa recently launched a new collection, Mama’s Boy, which features stylish winter hats. The creative director of the brand, Katleho Motaung, was inspired by his mother when dropping the collection of hand-crafted hats. “Discover the unique story behind each Mama’s Boy crocheted hat, hand-crafted with love in Soweto. These hats are more than just accessories – they’re a celebration of joy and individuality,” said Motaung. The designer is not the only one who makes…

The National Prosecuting Authority (NPA) has confirmed that it would charge 95 Libyan nationals who were arrested on Friday at what is suspected to be an illegal military base in Mpumalanga. Police raided the farm, uncovering what appeared to be a secret military base training facility for illegal Libyan nationals since April this year. It followed a tip-off from community members of Masoyi village near the base. Provincial police spokesperson Colonel Donald Mdhluli said the NPA received intelligence about the activities. The raid led to the detention of 95 Libyan nationals who were found to be training at the camp. Delays and a lack of information from the NPA were apparent outside the White River Magistrate’s Court where a media contingent gathered, waiting for the accused to appear. There were…

Novak Djokovic said he hoped he would get more chances to play Rafael Nadal after beating his old rival in the second round of the Olympics yesterday. The 24-time Grand Slam champion won 10 of the first 11 games and threatened to inflict the most lopsided defeat on Nadal in the 60th meeting between the pair, before eventually winning 6-1 6-4. Nadal said after the loss that he would decide on his future in the sport after the Olympics, where he is also playing in the doubles with Carlos Alcaraz. But Djokovic, who played Nadal for the first time when they were still teenagers at the 2006 French Open, told reporters he would like to keep the rivalry going. “There’s no other rivalry in the history of tennis that’s had…

Henri Schoeman has fully embraced the underdog tag, as he did in 2016’s Rio Games, ahead of his attempt at another triathlon medal for South Africa. After a tough spell at the Tokyo Olympics last out, Schoeman will give it one last go in Paris today as he looks to cap a third event with another medal. “I feel I am flying under the radar and prefer it that way,” the 32-year-old said ahead of today’s competition. “In Rio, people didn’t even consider me and that removes a great deal of pressure and attention. It’s similar circumstances now and I was able to enjoy training and preparation without the added pressure and anxiety of expectations.” It took a lot for him to get back onto the triathlon horse after the…

SA MEN’S hockey team coach Cheslyn Gie has called on his team to be “brave” in their crucial Olympic Games Pool B clash against Germany today. The South Africans have shown great fight and resilience in their opening two matches against the world’s two top-ranked teams, the Netherlands and Great Britain. A valiant 5-3 defeat to the Dutch was followed by a courageous 2-2 draw with the British. In fact, the South Africans were unlucky not to take all three points from the Great Britain clash after Paul Revington’s team only managed a fortunate equaliser from a short corner with just 90 seconds remaining. The South Africans protested vehemently to the referee that Great Britain had committed a foul in the build-up that led to the vital short corner –…

The SA Poultry Association (Sapa) says it strongly believes that targeted chicken products should be included in an expanded list of items that are zero-rated for value-added tax (VAT). This comes after President Cyril Ramaphosa, during his Opening of Parliament Address, announced a plan to change the range of food items exempt from VAT, saying it indicated multi-party support for an initiative that would help lower food prices for low-income households. This includes a comprehensive review of administered prices to identify areas where prices can be reduced. Yesterday, Sapa’s general manager Izaak Breitenbach said chicken was South Africa’s most popular and most affordable meat source, accounting for 66% of all meat consumed in the country. “It is therefore the main source of meat protein for millions of poor people, including…

Although the recent promulgation of both the amendments to the Companies Act as well as the Public Procurement Act aim to enhance transparency, cut down on corruption, and improve South Africa’s status as an investment destination, both require political will to implement. After signing into law the Public Procurement Act, President Cyril Ramaphosa stated – in his weekly newsletter issued yesterday – that the law stemmed from work to prevent corruption and State Capture found by the Zondo commission. “The law specifically prohibits any person from interfering with or trying to influence any procurement or trying to tamper with any tender bid after its submission or award,” Ramaphosa said. Law firm Dentons South Africa yesterday said both pieces of legislation will assist in reducing incidents of corruption, especially the Public…

WHEN the Olympics 2024 commenced last week there was one thing missing, the electronic sports (Esports). They are a form of competition that uses video games. Esports often takes the form of organised, multiplayer video game competitions, particularly between professional players, played individually or as teams There’s already a community of active Esports players in South Africa and across the world. History was made last week when the International Olympic Committee (IOC) decided to create Olympic Esports Games. The first edition will be held in 2025 in the Kingdom of Saudi Arabia. The 142nd IOC Session in Paris endorsed the proposal by the IOC executive board unanimously. For the organisation of the Games, the IOC has partnered with the National Olympic Committee (NOC) of Saudi Arabia for 12 years. This…

Dutch brewer Heineken yesterday posted a €95 million (R1.89 billion) loss for the first six months of the year but a cost drive internationally was likely to see some of the savings invested in South Africa. The company, which owns markets and sells more than 300 brands in 190 countries, took an €847m write-down from the decline in valuation of its stake in China Resources Beer, whose share price has fallen on the Hong Kong stock exchange. Heineken acquired 40% of the Chinese company in 2018. The Dutch group said in its earnings report the drop in China Resources Beer’s share price was possibly due to “concerns on the macro-economic environment in China and its impact on consumer demand”. China, the world’s second-biggest economy, has encountered severe headwinds in…

Quitting smoking is one of the hardest things many people will ever do. The World Health Organization (WHO) recently introduced its first-ever clinical treatment guideline to help adults quit tobacco. This comprehensive guide includes support from healthcare providers, digital tools and medications to help the 750 million tobacco users who want to quit. But why is quitting smoking so tough? Nicotine, the addictive substance in tobacco, hooks users quickly. It stimulates the release of dopamine, a “feel-good” chemical in the brain, making you feel pleasure and relaxation. Over time, your brain starts to crave nicotine to keep those good feelings coming, creating a cycle that’s hard to break. When you try to quit smoking, your body reacts to the absence of nicotine with withdrawal symptoms. These can include: Irritability and…

THE EFF and FF Plus in Tshwane are embroiled in a racial row after the Red Berets’ regional leader, Obakeng Ramabodu, threatened to draw “Afrikaner blood” during last week’s chaotic council sitting, resulting in him being reported to the SA Human Rights Commission. On Sunday, EFF chief caucus whip Godwin Ratikwana said his party had also approached the commission to open a case of intimidation emanating from “racist acts” perpetrated by FF Plus councillor Mark Surgeon. “This decision comes in the wake of a series of racially charged incidents and persistent systemic racism that continue to plague our city,” he said. Ratikwana said the recent hostile behaviour exhibited by Surgeon “is not an isolated incident but part of a broader pattern of racism and intimidation perpetuated by certain individuals and…

30ml olive oil 2kg trimmed oxtail 20ml Robertsons Steak and Chops Spice Salt and black pepper to taste 2 carrots, sliced 1 onion, chopped 6 garlic cloves, crushed 30ml cake flour 1 tin Italian chopped tomatoes 50ml tomato sauce 750ml beef stock 250ml white wine 15ml Robertsons Italian Herbs 2 large sprigs rosemary 150g crumbled feta cheese 8 sheets of phyllo pastry 100ml butter, melted 50g raw flaked almonds Heat the oil in saucepan and brown the meat. Season the meat with the Robertsons Steak and Chops Spice and salt and pepper then remove from the saucepan. Add the carrots, onion and garlic to the saucepan cook for a few minutes. Sprinkle with flour. Stir fry a little and add the Italian chopped tomatoes, tomato sauce, stock, white wine,…

Electricity Minister Kgosientsho Ramokgopa has revealed that a significant milestone was achieved by Eskom with available capacity reaching 35 000MW, a level of available capacity that has not been seen for six years, specifically since July 16, 2018. This means Eskom has an operational margin of 13.9% above the evening peak demand of 30 740MW, and thus is getting closer to the international benchmark of having a 15% margin above the evening peak. During a media briefing yesterday, Ramokgopa said that six power stations recorded an Energy Availability Factor (EAF) greater than 70%. The facilities are Medupi, Kusile, Matla, Matimba, Grootvlei, and Lethabo, while an additional four power stations achieved an EAF above 60%. The improvement in plant performance is reflected in the EAF which was 67.68% in week…

“Super, super happy!” That was South African mountain biker Alan Hatherly’s elated reaction after he raced into the history books yesterday to secure Team SA’s second bronze medal of the 2024 Paris Olympics. Hatherly claimed a maiden medal for South Africa in the men’s cross country, and in turn also became the first South African cyclist to win a medal since Melbourne 1956. The 28-year-old formed part of an epic race, with Great Britain’s Tom Pidcock winning the gold medal in 1hr:26.22min and France’s Victor Koretzky taking the silver. Hatherly was third in 1:26.33. “It still hasn’t sunk in yet. It’s been flat-out since the race. It’s been a career goal of mine since I was a child growing up. To have achieved that today is unbelievable,” Hatherly said. “It’s…

Toronto-based Africa Energy Corporation (AEC), holder of a 10% interest in the significant Brulpadda and Luiperd gas finds offshore of Mossel Bay, said yesterday that they would remain a shareholder and were confident the fields were commercially viable. It said it was confident the fields could produce gas for South Africa during its transition away from coal-fired power plants. AEC’s continued participation was good news for the project, as TotalEnergies South Africa, operator and 45% shareholder, confirmed yesterday also that it would exit the project because it was too difficult. TotalEnergies said in a statement it withdrew from the Blocks 11B and 12B offshore exploration fields following a decision to exit the fields by another partner in the project, CNRI (Canadian Natural Resources International) which had held a 20% stake.…

South Africans went to the polls on May 29 to vote for their preferred political parties. This was preceded by intense campaigning on all fronts, in which many manifestos were presented to the electorate. This occurred against a backdrop of record unemployment, growing inequality, violent crimes and high poverty rates. These, combined with load shedding and a weak economy, must be the seventh administration’s top priorities to encourage investment, build the economy, restore confidence and assist South Africa in its transformation. Instead of producing a clear winner, the results forced political parties to co-operate for the good of the nation, and the results of these engagements is what is referred to as Government of National Unity (GNU). There have been many murmurs from many places, and it seems that…

Business transformation in SA is primarily defined by the transition from analogue to digital, from manual to automated, from traditional ways of working to those compatible with 4IR technologies and implementations. Transformation projects have accelerated in the past few years, and local organisations now recognise the need for agile and scalable IT infrastructure. Effective business transformation involves a complete overhaul of companies’ existing processes and systems, as well as instilling a culture that improves efficiency, enhances customer satisfaction, and maintains a competitive edge in their respective industries. Technology leads the way Though digital transformation looks and feels different for each organisation, it all boils down to integrating digital technologies to advance operations and unlock new value. We see the impact of technology on business transformation practices across various industries. In…

South Africa Real Estate Investment Trusts (REITs) delivered a 11.1% total return in the first half of 2024, making listed property the best of the various investment asset classes, according to data published by the SA REIT Association. This followed a strong June when share prices of property companies rallied 9.4%, after the formation of the Government of National Unity (GNU), the latest Rode Report said. The best performing REITs in the first half in terms of total returns were Attacq with a 21.1% return, Emitra 26.9%, Texton 32.8%, Fortress-B 26.2% and Fairvest-B 17.7%. Equities, represented by the JSE All Share Index, performed second best of the asset classes, with a 5.8% return in the first half, with SA-focused companies shining after the elections. Bonds came in third and cash…

South32’s disposal of the Illawarra coal mine in Australia for $2.5 billion (R46bn) is now unconditional following the fulfilment of all conditions precedent to the transaction, the company said yesterday. The diversified mining and metals group expects the deal to be completed at the beginning of September. The Illawarra coal mine is being disposed to an entity owned by Golden Energy and Resources and M Resources which are established participants in the Australian metallurgical coal industry. For South32, the disposal “will significantly reduce the company’s capital intensity, with Illawarra Metallurgical Coal currently comprising 35%,” of its capital expenditure, it has previously said. The company said yesterday that “all conditions precedent to the sale of Illawarra Metallurgical Coal” had now been satisfied. Accordingly, the transaction is unconditional and…

Using fresh fruits, vegetables and herbs is one of the simple steps that can go a long way to making a meal much more pleasurable. However, finding produce that has gone bad – or is no longer fresh – in your fridge can be a major disappointment to anyone about to start preparing a meal. Right now, local farmers' markets, roadside stands, and farm shop produce sections are all stocked to the brim with colourful options, all of which come together to let you make some of the best meals during the warm months. Fresh produce requires different storage methods and can be stored for varying lengths of time. Some fresh produce can even remain in better quality when not refrigerated. All storage areas should be clean and dry. Fruit…

If THE Springboks are to win their first Rugby Championship title since 2019, they have to tackle their tour to Australia with a sharpened attitude, but coach Rassie Erasmus has hinted that the two-match tour also presents him with opportunities to explore his depth. A vastly experienced Springbok team leaves for Brisbane tomorrow but a sprinkling of newcomers have been retained from the experimental game against Portugal. This could mean more game time for blindside flank Ben-Jason Dixon, hooker Johan Grobbelaar, prop Jan-Hendrik Wessell and utility back Sacha Feinberg-Mgomezulu. “The new guys ... have done well and have given us more options,” said Erasmus. “We must juggle a bit and give them more opportunities. Some will be slowly integrated, and some might be part of the action in Australia but…

South Africa’s swimming goddess Tatjana Smith stormed to a first Olympic 100m breaststroke gold medal at the Paris Olympics yesterday evening. It was also South Africa’s first gold medal at the 2024 Paris Olympics after mountain biker Alan Hatherly had won a bronze medal earlier in the day in the men’s cross country to go along with the Blitzboks bronze medal in the rugby sevens. Smith, who was in tears at the end, bettered her silver medal from the Tokyo Olympics with a time of 1:05.28. China’s Tang Qianting claimed the silver medal (1:05.54), while Ireland’s Mona McSharry won bronze (1:05.59). Despite being far back at the halfway point, Smith ‒ formerly Schoenmaker ‒ dug deep into her reserves to speed past Qianting and McSharry over the final 50m.…

The Olympic dream is over for the South African women’s sevens team after they finished winless in their pool in Paris but they return home with their heads held high after a strong finale against Great Britain. The Bok Women lost 26-17 to the British but showed vast improvement from their opening day when they were hammered 34-5 by Australia and 38-0 by Ireland. The South Africans saved their best for last and were leading Great Britain 12-0 with 30 seconds left of the first half after early tries by stalwarts Libbie Janse van Rensburg and Nadine Roos. The former scored pretty much from the kick-off and when Roos added the second, an upset was on the cards only for the South Africans to show inexperience that led to Britain…