Indholdsfortegnelse for 2024-03-22 i Cape Times

Furniture removal companies Stuttaford Van Lines and Pickfords Removals SA have admitted to involvement in a furniture removal cartel and have agreed to pay an administrative penalty totalling R40 million. According to a statement on Wednesday, the Competition Tribunal said this formed part of the terms of a settlement agreement. This followed a hearing during which it heard submissions on various aspects of the settlement agreement. The settlement agreement concluded all complaints, investigations and prosecutions relating to Stuttaford Van Lines and Pickfords. In 2010 the Competition Commission launched investigations into several furniture removal companies, including Stuttaford Van Lines, Pickfords and AGS Fraser International, operating subsidiaries of Laser Transport Group. The investigations revealed that furniture removal companies had tendered collusively in the provision of furniture removal services to government departments, big…

Mining giant Sibanye-Stillwater on Wednesday said that it had suspended production at its Siphumelele shaft in Rustenburg, which accounts for nearly 4% of its South African platinum group metal (PGM) output, after an accident damaged surface infrastructure. The diversified miner said in a statement that no injuries were reported from the February 29 incident when an ore collector bin attached to the shaft headgear collapsed to ground. The collapse had damaged a surface ore conveyor belt system. The damage to the ore collector bin and collapse of the conveyor system had resulted in the suspension of production from the shaft, Sibanye said. Investigations into the cause of the incident were underway, while its impact on annual production from the Siphumelele shaft was being assessed, it added. The shaft was forecast…

The cause of a fire at Parliament has not hitherto been established and the presumably mentally disturbed Zandile Mafe remains the lone suspect. This is a subject that when brought to statisticians to shed light on, would result in more damage. Statisticians will need more parliaments to burn in order to make the appropriate inferences on what caused a fire at the South African Parliament. A sample of one does not suffice for statisticians. Statisticians are notorious for creating more fires. This is in order for them to create a bigger sample to understand the cause of the fire as the power of one is a difficult outlier to contend with. Statisticians are not ones who believe in one swallow making a summer. However, lawyers can always prove, either on…

Investec will report a solid financial performance for the year to March 31, based on diversified revenue streams and the success of its client acquisition strategies. The international bank and wealth manager in the UK and South Africa said in a trading statement on Friday that the average rand/pound exchange rate depreciated by about 15% for the 11 months to February 2024, resulting in a big difference between reported and neutral currency performance. In addition, the comparability of the results with a year before was affected by corporate actions. These included the merger of Investec Wealth & Investment (UK) (IW&I) with Rathbone Group, R6.7 billion share buy-backs to optimise capital in South Africa, disposal of property management companies to Investec Property Fund (IPF), the restructure of Bud Group Holdings to…

AECI on Wednesday celebrated its centenary as it plots a clear growth and expansion trajectory ahead. AECI has a market capitalisation of R9.69 billion. Posting its annuals last month, the group lowered its final dividend 79% to 119 cents in the year to December 31, but its core mining division saw record results, and group debt reduction targets were met. Group CEO Holger Riemensperger reiterated the firm’s strategy to become a global top three player in its industry by 2030. “Through operational excellence and a disciplined approach to capital allocation, we aim to double the Ebitda of our core mining and chemicals business by 2026,” he said. He said these capabilities were central to the sustainable and profitable growth of AECI, coupled with strategic disinvestments from non-core businesses. AECI Mining…

With Easter around the corner, many home cooks are already working on their menus for the weekend. For many, Good Friday is all about seafood treats and top of the list is pickled fish. If you’re going to make pickled fish this year why not try something a little bit different? Chefs Craig Cormack and Beau du Toit from Salt restaurant at the Waterford Estate in Stellenbosch, have given a twist to a classic Easter dish with their Pomegranate Pickled Fish recipe. This unusual dish, which serves six people, will have you begging for more. Pomegranate Pickled Fish Ingredients 1 kg yellowtail, skinned 200 ml vegetable oil 500g sliced onions 15 ml quality masala 5 ml fennel seeds 5 ml coriander seeds 5 ml black peppercorns 4 whole cloves…

The service delivery-challenged community of Sharpeville was once again the centre of attention from political parties yesterday as the country commemorated the 64th anniversary of the Sharpeville Massacre on March 21, 1960, in which 69 people were killed. Among the parties that vied for the hearts and minds of the community of Sharpeville were Build One SA (Bosa), the EFF, ANC, Rise Mzansi, Ace Magashule’s African Congress for Transformation (ACT), the ACDP, the MK Party and the PAC. These attention-grabbing acts of electioneering took place right in the middle of a potholed and unfinished Seeiso Street. In a community of unpaved roads, pothole-riddled streets and other serv ice-delivery challenges, scores of residents decried the lack of political will to deal with the socio-economic challenges affecting them. “There is no service…

Three Cape Town Opera (CTO) House Soloists triumphed at the 59th Fleur du Cap Theatre Awards ceremony held at the Baxter Theatre. Soprano Nobulumko Mngxekeza won Best Performance in an Opera (Female) for her outstanding portrayal in the title role of Puccini’s Tosca while her co-star in the same production, Lukhanyo Moyake, took the prize in the Best Performance in an Opera (Male) category for his role as Cavadarossi. Tosca was directed by Magdalene Minnaar and presented at both Artscape and the Joburg Theatre in 2023. And Cape Town Opera founder Angelo Gobbato, who will be directing CTO’s Lucia di Lammermoor in June, was awarded the Lifetime Achievement Award for his incredible contribution to the art form over the decades. Brittany Smith won Best Performance by a Lead Actress in…

The Cape of Good Hope SPCA is fighting for justice for a heroic dog, Angel, who died after she was stabbed in a violent home attack. Angel intervened to protect her owner who was stabbed by a man who forced his way into the family’s Grassy Park home on March 8. The SPCA said the suspect was evading the authorities and faced charges under the Animals Protection Act No.71 of 1962, alongside additional charges for other violent crimes. According to the animal welfare organisation, Angel leapt to the defence of the already wounded woman in their home in Perth Road in Grassy Park, in a bid to protect her from further harm. Angel was then attacked by the intruder, which only came to a stop when a male family member…

Rubin Hermann and Migael Pretorius powered the North West Dragons to their second win of the Cricket SA T20 Challenge in fine style yesterday. The Dragons continued their newfound form as they clawed their way back from a bad start in the competition to make it two wins in three matches with a seven-wicket victory over the struggling Boland Rocks at the JB Marks Oval in Potchefstroom. Set a target of 146 runs to win, the Dragons got off to a good start, with Hermann and Meeka-Eel Prince combining for a solid opening partnership of 49, before Prince fell to Imraan Manack for 13. Run machine Herman continued from where he left off against the KZN Tuskers last Friday. He followed up his century in that match with a blistering…

The Proteas Women will look to build on the positives from their tour of Australia as they go up against Sri Lanka next week, in a series that will comprise three T20 matches and three one-day internationals. Proteas coach Hilton Moreeng said the series against Sri Lanka is an opportunity to rectify past mistakes, especially by starting the tour on a good note. Moreeng believes the T20 series will help prepare for the World Cup in Bangladesh in September, while the ODI fixtures will play a major role in automatic qualification for the 50-over World Cup in India next year. South Africa hosted the ICC T20 Women’s World Cup last year, and lost to Australia by 19 runs in the Newlands final. They have since had series at home against…

South Africa’s Banyana Banyana face the daunting prospect of playing in a group of three top-10 countries if they qualify for this year’s Paris Olympics women’s football competition in France from July 24 to August 10. Banyana Banyana’s qualification fate hangs in the balance since they must still play the final round of qualifying against arch-rivals Nigeria’s Super Falcons. The Sasol-sponsored Banyana Banyana play the first leg in Nigeria on Friday, April 5, in Abuja. The reverse tie will be on Tuesday, April 9, at Loftus Versfeld Stadium in Pretoria. The draw for football at the 2024 Paris Olympics was announced at the Le Pulse Building in Saint-Denis, Paris, on Wednesday. The two qualifying African teams have been placed in tough groups. Zambia and Morocco will lock horns for the…

More than 70 businesses at the Black Industrialists and Exporters Conference make pledges More than 70 businesses at the 2024 Black Industrialists and Exporters Conference on Wednesday pledged to spend R261 billion on procurement from black industrialists over the next five years. The spending will range across a wide range of sectors, including agro-processing, agriculture and forestry; rail; electro-technical; metal fabrication and industrial equipment; glass, plastics, household goods and marine; retail, clothing and footwear; pharmaceuticals and medical devices; information technology; and, financial services. The government’s black industrialists programme aims to provide support and funding to industrialists, who wish to start, maintain or expand their businesses. Speaking at the event, Trade, Industry and Competition Minister Ebrahim Patel noted that the direct turnover of companies supported by the black industrialists programme was…

TELECOMMUNICATIONS giant Vodacom South Africa has come under fire once again after reports surfaced that the company is planning to cut 80 jobs. Vodacom has a staff complement of about 5 400 people. In a statement, a spokesperson for the largest wireless operator in Africa told Business Report that: “As Vodacom South Africa, we routinely ensure that our business operations are fit for purpose as we transition from a Telco to a leading Technology company. “To ensure the continued efficiency of key functions and maintain our competitive edge, we anticipate that our latest operational review will impact less than 80 employees. “This decision aligns with our commitment to adapt and optimise our business to meet evolving industry and customer demands. Additionally, Vodacom South Africa continues to proactively implement various cost…

South African average salaries improved by 2.5% in February with the monthly, annual and quarterly increases suggesting a better year for take-home pay. The monthly BankservAfrica Take-home Pay Index (BTPI) experienced another positive month in February amid the better-performing environment, resulting in companies increasing their employees’ average salaries over the past three months. Shergeran Naidoo, BankservAfrica’s head of stakeholder engagements, said the average nominal take-home pay reached R16 085, which was 4.6% growth on a year ago and also 2.5% up on January’s R15 692. “In real terms, the monthly take-home pay tracked higher at R14 354 in February 2024, slightly below year-on-year levels.” This year’s business environment was expected to improve, unlike the previous two years where persisting economic challenges significantly impacted companies and their ability…

There are three pension funds in the country, including South Africa’s largest fund, that are not governed by the Pension Funds Act, and National Treasury needs to deal with these separately in implementing its famous two-pot retirement system. I refer to three government pension funds, in particular the Government Employees Pension Fund (GEPF), which holds more than R2.3 trillion in assets and has almost 1.3 million active members and another 475 000 pensioners and beneficiaries. This fund is constituted under its own law, the Government Employees Pension Law (Proclamation 21 of 1996). The other two funds are the Post Office Retirement Fund (PORF), governed by the Post and Telecommunications-related Matters Act (previously the Post Office Act) of 1958 and the Transnet Retirement Fund (TRF), governed by the Transnet Pension Fund…

Shares in Renergen closed 1.56% lower on the JSE at R10.72 on Wednesday despite it announcing an investment boost from Italian firm Airsol, a wholly-owned subsidiary of SOL. The SOL group has a significant presence in the industrial gases market, including helium, across the world. Renergen said conditions precedent to the subscription by Airsol of unsecured convertible debentures – which are convertible into Renergen shares upon the completion of an initial public offering by Renergen on the Nasdaq – had now been fulfilled. SOL had now subscribed for the remaining tranche of convertible debentures, bringing SOL’s total investment in Renergen to $7 million (R131m). SOL had originally subscribed for convertible debentures in Renergen for an amount of $3m. The remaining tranche of convertible debentures in Renergen subscribed for by SOL…

As a mom, I need to have someone I trust implicitly when it comes to taking care of my child when I’m not around. When my little one was a toddler I had to find a nanny for her and it wasn’t an easy process. Unless you’re fortunate enough to have a family member available to look after your child, you have to go through the painstaking process of interviewing people for the position. Even if it’s just for a babysitter who will watch your child for a few hours. Finding the best caregiver for your child is a crucial decision that can have a significant impact on their well-being and development. So whether you are looking for a babysitter, nanny, or daycare provider, it is important to take…

An object made with skill, craftsmanship and deep intent forever reflects a moment in history. This is what mixed media artist Tamlin Blake showcases in her latest exhibition, After the Fire, at the Sisonke Gallery at The Cape Heritage Hotel, on until April 28. A devastating fire decimated a large portion of a private home in the winelands in 2020 and extensively damaged a well-loved art collection housed there. This affected Blake deeply because many of the artworks were by artist friends or artists she deeply admired. In some cases, all that was left of paintings on the walls were the metal hanging fixtures and stains where the oil paint had melted to the floor. After the fire, dozens of old fine China remnants were found among the debris which…

Ahead of the Easter holiday period, the City’s Traffic Services launched Operation Exodus yesterday, offering free vehicle checks to long distance public transport operators. Mayco member for safety and security JP Smith said roads were generally busier over the Easter holiday with not only more vehicles, but also more long distance public transport vehicles on our major routes. “Unfortunately, this time of year is also notorious for the number of accidents and loss of life and we want to do everything possible to ensure the safety of all our road users. “Operation Exodus offers free vehicle checks and I want to encourage all our long- distance operators to make use of the service. Ensuring your vehicle is in tip-top shape saves lives,” said Smith. Last year, 423 vehicles were presented…

Fast bowlers are almost guaranteed to have injuries at some point in their careers, and Proteas quick Anrich Nortjé is no exception to the rule. Nortjé suffered a back injury in September, an injury that saw him miss the entire ODI World Cup in India last year. However, it was not the first ODI World Cup that the 30-year-old had missed out on due to injury, as the fast bowler picked up a finger issue in 2019, weeks before the World Cup, and subsequently missed out on that event as well. This time around, the Proteas fast bowler spent five months sitting on the sidelines and doing rehab work because of the back injury. However, Nortjé has recently returned to action in the ongoing Cricket SA T20 Challenge, and has…

Manchester United midfielder Kobbie Mainoo said he is hoping to make the squad for the European Championship in Germany after receiving his first England senior call-up ahead of international friendlies. Initially part of the Under-21 squad, the 18-year-old was drafted into manager Gareth Southgate’s team on Tuesday before England host Brazil tomorrow and Belgium on March 26. Mainoo has made 20 appearances for United across all competitions this season, scoring two goals, and was again in fine form in the Red Devils’ 4-3 FA Cup quarter-final victory over Liverpool at Old Trafford last Sunday. The academy graduate has shown calmness and dependability on the pitch, dribbling swiftly through heated midfield battles. “I was shocked and happy (to get the call-up). It’s been a whirlwind of emotions, a pretty mad couple…

Chennai Super Kings will launch their Indian Premier League title defence against Royal Challengers Bengaluru in what could be Mahendra Singh Dhoni’s final year in the lucrative T20 competition after he stepped down as captain yesterday. Dhoni played his last international in 2019, but remains one of the country’s most popular players. And while the 42-year-old showed some signs of slowing down last season, he still helped Chennai win a fifth title to match the Mumbai Indians’ haul. Media reports have said 2024 could be the former India skipper’s swansong, and the wicketkeeper-batsman, who had knee surgery last year, handed over the captaincy to batsman Ruturaj Gaikwad ahead of today’s opener against RCB. Dhoni has captained Chennai since the inception of the league in 2008, and the team did not…

Bafana Bafana’s ongoing Fifa Series pilot project in Algeria is set to aid the team’s preparations for the World Cup qualifiers in June. However, coach Hugo Broos will not want to tweak much of the team that finished third in the Africa Cup of Nations in Ivory Coast two months ago. We looked at five players who weren’t at the Afcon who must impress Broos from the outset in Algeria over these few days ... Bruce Bvuma: Goalkeeper Bvuma has been a light in Chiefs’ darkest moments in recent weeks, keeping seven clean sheets in the last nine matches in all competitions. His exploits for Chiefs have given a glimpse of his maturity, having been in and out the side before due to inconsistent performances. However, his SA call-up should…

Inflation in February ballooned on the back of rising medical and fuel prices to the highest level in four months, dashing South African consumers’ rate cut hopes. Economists said on Wednesday that when the Monetary Policy Committee (MPC) meets next Wednesday, it is likely to keep interest rates on hold. Statistics South Africa (Stats SA) said on Wednesday that the consumer price index (CPI) rose to 5.6% year-on-year (y/y) in February, from 5.3% in January. Core inflation accelerated to 5% y/y from 4.6% y/y over the same period. Trade union the United Association of South Africa said they were concerned the latest inflation rate was a setback to workers’ hopes of interest rate cuts. “Workers have faced rising fuel, food, medical, insurance and transport prices over the past two months,”…

South Africa’s consumer food inflation slowed to 6% in February this year, from 7% in January, underpinned by the deceleration across most food products. Lower food inflation leads to lower food prices, which is good news for consumers. However, sugar, sweets and desserts remained roughly unchanged from the last months. Wandile Sihlobo, the chief econo- mist at the Agricultural Business Chamber, said they expected this broad moderation path to continue for most of the products within the food basket over the near-to-medium term. “However, there are significant upside risks for the bread and cereal products in the food basket because of the potentially poor white maize harvest on the back of the current heatwave and dryness,” Sihlobo said. Nkhensani Mashimbyi, an economist at Absa AgriBusiness, said the prices…

In the ever-evolving landscape of global finance, the South African rand (ZAR) has been a silent participant in a tumultuous dance with destiny. The question on everyone’s mind: Is the South African currency facing a crisis, and how much wealth has it lost in the span from 2003 to 2023 due to its consistent devaluation against major currencies? The ZAR’s downward spiral finds its roots in a complex web of geopolitical tensions and internal economic challenges. The Russian-Ukraine war has ruffled feathers in international financial markets, creating an environment of heightened risk aversion towards South Africa. The looming threat of potential sanctions, including being locked out of SWIFT, casts a shadow over international payments, leaving investors wary of the consequences. South Africa’s dependence on foreign investment to fund its current…

Standard Bank says the governing ANC is likely to notch up sufficient votes in the May 29 election to avoid a coalition that could steer policy towards a more populist stance, although it cautioned investors to brace for a “tumultuous” period ahead of the key poll. There is widespread sentiment that public support for the ANC is dwindling as a result of crime, poor governance and corruption, as well as inefficiencies in key sectors such as rail transport and energy. However, Standard Bank analysts believe the ANC will garner sufficient votes to avoid a coalition in the coming election. “We can expect an election result (that will see) the ANC garnering sufficient votes, negating the need for a coalition arrangement with a sizeable political party that may steer policy in…

Discovery Group’s normalised headline earnings increased 11% to R3.32 billion and new business annual premium income (API) was up 28% to R14.2bn, while the bank reached monthly break-even ahead of schedule. “In an environment of macroeconomic complexities, Discovery delivered a strong operating performance underpinned by our investment in future growth platforms as well as adhering to financial discipline,” chief executive Adrian Gore said in a statement. An interim dividend of 65 cents (110c – 2023 financial year-end) was declared. In South Africa, the Discovery Health, Discovery Bank, Discovery Life, Discovery Invest and Discovery Insure businesses’ normalised operating profit increased 9% to R4.36bn, while new business increased 29% to R11.1bn. In the UK, the Vitality Health and Vitality Life lifted normalised operating profit 2% to £34.7 million, or by 13% to…

Unlawful arrest and detention cases were flooding the courts, but an arrest without intention to bring the accused to justice was unlawful and could not be taken lightly, an acting judge has said. This was in relation to a case in the Gauteng High Court, Pretoria, where a woman was arrested and put in a cell with a man. After the woman was slapped around by the police during her arrest and while being transported to a police station, her nightmare ordeal worsened when she was raped in the holding cell by her cellmate. The plaintiff, identified only as MM, successfully turned to court to claim damages from the SAPS for unlawful arrest and detention. She testified that the police came to her home and said they were looking for…

Sutha ke Fete means “make way so I may pass” in Sesotho; an invitation to make way for an imagined passerby, wrapped in a richly decorated heritage blanket. This is the title of the first-ever exhibition of the globally iconic Basotho blankets in the Western Cape, presented by Sanlam in collaboration with the National Museum in Bloemfontein. Showcasing the unique and engaging designs of traditional and contemporary Basotho blankets, the exhibition, on now, will run until June 14 at the Sanlam Art Gallery in Bellville, before moving to Sandton, Johannesburg, for Heritage Month. With exquisite heritage blankets on loan from the National Museum, along with 26 Basotho blankets from the Sanlam Art Collection, including Aranda’s Young Basotho Designer range, the exhibition celebrates the stories of the blankets, which have become…

Local surf champ Paul “Chow” Sampson has set his sights on the world stage after his win at the Cape Town Surf Pro Qualifying Series (QS) held in Kommetjie, despite still recovering from a knee injury. In his first-ever QS victory, the biggest result of his young career, Sampson, 24, claimed top spot in the Cape Town leg of the World Surf League (WSL) event held in contestable 2 to 3 foot surf at Long Beach. Describing his emotions after the win, Sampson said he was still soaking in the moment. “I’m feeling so many emotions but it definitely does feel very good. “Chatting to my coach, Cassiem ‘Cass’ Collier, after the event and securing the victory he reminded me that it is an achievement to be proud of as…

Wandisile Simelane celebrated his 26th birthday yesterday, and is excited by the possibilities his future holds at the Stormers. The former SA Under-20 star had a tough time at the Bulls after leaving his Lions home, and a move to Cape Town finally became reality in January. Simelane has been given time to settle in with the team, and was part of the side that beat Northampton 45-29 in England last week. The fleet-footed outside centre had an encouraging outing and also scored a try, and will hope to build on that performance by getting an opportunity in tomorrow’s United Rugby Championship clash against Edinburgh at the Cape Town Stadium (5.05pm kick-off). “It’s even better from the inside. When you look at it from the outside, you always knew the…

Warriors captain Matthew Breetzke played a true captain’s knock yesterday to guide the Warriors to an eight-wicket victory over Western Province and help the Gqeberha-based team maintain their unbeaten run in the Cricket SA T20 Challenge. Coming into the clash against a strong Province side, Breetzke had been the off-form batter in the Warriors’ top order, as the 25-year-old had scored two consecutive single-digit scores coming into yesterday’s match. However, the opening batter had just the right start this time around, smashing Province spinner Kyle Simmonds for two fours in the first over. Breetzke and his troops were chasing a low but competitive target of 150 set by Province, who ended on 149-7. And in such chases, one batter needs to play the anchor role, while giving the others the…

The ongoing African Games may have been a big win for the mixed martial arts (MMA) community as the sport took one step closer to Olympic recognition, but the 13th edition of the quadrennial multi-sport event left a bitter taste in the mouths of some. The Games got under way in Ghana on March 8 and are currently taking place in three cities – Accra, Kumasi and Cape Coast. They will end tomorrow. After the announcement that the Global Association of Mixed Martial Arts (Gamma) would be the regulatory body for MMA at the Games, members of the International Mixed Martial Arts Federation (Immaf) were left “disappointed” and bewildered about how Gamma managed to secure the rights to showcase MMA at the African Games. Immaf has been the only world…

On the bus back from the Stade de France in Paris after winning the World Cup final, the Springboks were already talking about a three-peat four years later. Jesse Kriel, the Springbok outside centre in the 12-11 defeat of the All Blacks, said as much this week at an early screening of the first episode of the Chasing the Sun 2 documentary that will be aired on Sunday evening at 8pm on M-Net. “The group of players that defended the World Cup do not regard themselves as being at the end of an era – far from it,” Kriel said at the SuperSport studios in Randburg. “On the bus after the final, with the cup amongst us, we were already talking about winning it for a third time. This is…