Índex per 2024-05-02 a Cape Times

South African investors are awakening to Environmental, Social, and Governance (ESG) investing as a new way of measuring the value of their investments. It is a new view – one that seeks to balance earning money and taking care of the environment. Investors have started to think much more about ESG when they decide where to put their money by looking closer at how a business makes money, and in the process gaining an understanding that how a business makes money, how it affects people, and how it takes care of the environment are all interconnected. This change towards ESG investing in South Africa is part of a bigger change currently occurring all over the world. As more people become aware of issues like climate change, how people are treated,…

from Page 1 the elections the setback in this country will be sentimental. We should make no mistake. We are going all out to vote for the ANC as allies. These coming elections are so crucial for us. It is crucial that we come out in our numbers, all our family members, to participate in this important vote,” Mapaila said. Steenhuisen said the unholy alliance between the ANC, the SACP and Cosatu had deliberately built a system of economic exclusion since 1994. “A small group of ANC and Cosatu cadres have benefited enormously from exclusionary practices like cadre deployment and B-BBEE while trapping over 30 million people in grinding poverty. “And now they want to deepen that exclusion even more through new race quotas that could effectively ban the employment…

The DA has lost its legal bid to challenge the Department of Co-operative Governance and Traditional Affairs (Cogta) minister’s powers concerning the Disaster Management Act (DMA) in relation to the Covid-19 alert level restrictions. The Supreme Court of Appeal (SCA) dismissed the party’s appeal over the constitutional validity of section 27 of the Disaster Management Act 57 of 2002. Among others, the DA argued that given the breadth of the powers conferred on the minister, it was constitutionally required that the DMA ensures that the National Assembly has the power, by resolution, to disapprove and undo the regulations enacted by the minister. The respondents, including the president, the minister, and the Speaker of the National Assembly argued that the very purpose of a state of emergency was to permit a…

MONTHS after the conviction of two gang leaders and extortionists, and a scathing court judgment highlighting possible links between Khayelitsha cops and gangsters, police management were expected to meet with top brass at the station this week. The engagement follows a judgment by Western Cape High Court Judge Daniel Thulare involving Gupta gang leaders Gcinithemba Beja and Fundile Maseti, as the trial pointed to a breakdown of community confidence in the SAPS. The duo were convicted in November last year and sentenced last month to serve seven life terms each. During Beja and Maseti’s trial, a State witness testified of a shooting that happened at a tavern, in Site B in Khayelitsha on March 7, 2020. “Mr X saw some of the police members, who he knew as those…

Russia’s defence minister yesterday ordered a hike in weapons production and said deliveries needed to be faster for the war in Ukraine, a week after US President Joe Biden signed off on tens of billions of dollars of new military aid for Kyiv. President Vladimir Putin’s 2022 invasion of Ukraine touched off the worst breakdown in relations between Russia and the West since the 1962 Cuban Missile Crisis, Russian and US diplomats say. On April 24, Biden signed a bill into law that provides $61 billion (R1.1 trillion) in additional aid to Ukraine, including an array of artillery, rocket systems, anti-tank munitions and ammunition. Russia is gradually advancing at key points along the 1 000km front line and stated that US arms will not prevent victory by Moscow, but some…

British authorities have started to detain migrants in preparation for them to be sent to Rwanda in the next nine to 11 weeks, the government said yesterday, laying the groundwork for Prime Minister Rishi Sunak’s flagship immigration policy. A law to pave the way for sending asylum seekers to Rwanda if they arrived in Britain without permission was approved by parliament in April, and Sunak wants the first flights to take off in July. More than 7 500 migrants have arrived in England on small boats from France so far this year, and the government says the policy will deter people from making the dangerous journey across the Channel. Five people died trying to make the crossing last week. Human rights charities are expected to launch fresh legal challenges to…

Jakarta: Authorities yesterday began evacuating about 12 000 residents after Indonesia’s Mount Ruang volcano erupted, spewing ash and rocks. Mount Ruang, in the Sangihe Islands arc in North Sulawesi province, has been active in recent weeks. Authorities warned of deadly ash surges and the possibility of a tsunami. The eruption also caused a power outage on Tagulandang island and forced the closure of Sam Ratulangi International Airport in Manado. Residents of Tagulandang were plunged into darkness, while the airports in Manado and Gorontalo remained closed. | AFP…

DUBLIN: Police started dismantling about 200 tents housing asylum seekers in Dublin yesterday, tackling what has become a focal point for heated debate around migration. The government said police and other officials were removing migrants from tents that first appeared about a year ago on Mount Street in the centre of the capital and moving them into accommodation. Men who live in tents are largely left alone in Dublin but there have been protests in smaller communities opposed to the number of migrants living in hotels and hostels. Prime Minister Simon Harris said people would not be allowed to return to the camp once it had been cleared. | Reuters…

DR SAMUEL Mokgethi Motsuenyane was a towering, larger-than-life figure in the black business community due to his illustrious career and highly coveted accomplishments. Yet, he remained a humble soul who touched countless lives and empowered many business people as he continued to work long past his retirement age. Motsuenyane will now be remembered as a titan in the realms of business as he died peacefully on Monday “after a valiant and prolonged battle with illness”. He was 97. The news of his passing was confirmed by the Dr Sam Motsuenyane Foundation on Tuesday morning. The foundation’s chairperson, Professor George Lenyai, said Motsuenyane’s legacy extended far beyond his numerous professional achievements. “Dr Motsuenyane belongs to the ages; it will be an honour to him if we have learnt from him…

Glencore’s ferrochrome production dipped in the first quarter ended March 2024 as the Swiss multinational commodity trading group continued to idle its South African smelter, while its thermal coal production also remained largely flat. The diversified resources firm produces ferrochrome from South Africa as well as the Democratic Republic of Congo (DRC), but has been adjusting its production profile in the DRC. In the quarter to March, Glencore’s attributable ferrochrome production amounted to 297 000 tons, dipping by 26% or some 103 000 tons below output for the same period a year ago. This as the Glencore Rustenburg smelter “remains idled, pending an improved price/cost” environment. Glencore CEO Gary Nagle explained how the quarterly production had been impacted by idling Rustenburg operations and adjustments in DRC. “Lower year-on-year…

With days to go to the 21st staging of the Cape Town International Jazz Festival (CTIJF), organisers have shared some top tips for Festinos and residents alike to enjoy the best of the jazz fest experience over the weekend. Over the past few weeks, the festival has announced some big hitters that are due to light up the four stages. The calibre of the line-up, and the fact that Africa’s Grandest Gathering is back after a few years, has seen Festinos (fans) come out in their droves, consequently, the Mother City is expected to be busier than usual this coming weekend. FREE concert, Greenmarket Square, May 2, 4pm – 10pm: This is a family event – no alcohol, no smoking. Hydration points will be on the square – bring your…

from Page 1 was conditional on the success of the Ters application and if not successful, as is the case now, the bargaining unit category of employees would revert to the current position and so be retrenched. This retrenchment impacts 4 889 employees of the bargaining unit staff members.” The BRPs said they had tried their very best and acted in good faith, together with the unions, to make a final attempt to apply for Ters relief funding to limit the impact on possible retrenchments. If the Ters relief had been successful, the bargaining unit employees would have had 75% of their salaries paid by the Ters relief and 25% of their salaries paid by Sapo for the length of time that Ters agreed, but no longer than 12 months.…

Two members have resigned from the Freedom Front Plus (FF+), accusing the party of having a constitution that prioritised the interests of Afrikaners to the exclusion of other race groups. Lennit Max and Anco Barker called it quits on Tuesday and handed in their resignation letters, which have since been accepted by the party. Max, a former Independent Democrats (ID), DA and ANC member, joined the FF+ in 2021. His resignation letter cited section 3 of the FF+ constitution. The party’s constitution states: “The Freedom Front Plus is irrevocably committed to the realisation of communities’, in particular the Afrikaners’, internationally recognised right to self-determination, territorial or otherwise; the maintenance, protection and promotion of their rights and interests, as well as the promotion of the right of self-determination of any other…

ANC is the only bull in the ring, says defiant President Ramaphosa ANC president Cyril Ramaphosa maintained his party’s bullish outlook when addressing a Workers’ Day celebration at Athlone Stadium where he told the gathering that his party was the only “bull in this country”. He appeared to be taking a swipe at the DA, saying the ANC would teach a lesson to those who thought the Western Cape belonged to them. A stone’s throw away in Lentegeur, DA leader John Steenhuisen said because of the ANC’s legacy of destroying jobs, May 1 should be called “Workless Day.” Ramaphosa accused opposition parties of running around like little dogs, saying the ANC would obtain less than 50% of the vote. “They don’t know us. They hear about us in the newspapers.…

CHILD rights activists have called for the removal of Western Cape Commissioner for Children Christina Nomdo and Department of Social Development (DSD) MEC Sharna Fernandez as children continued to become innocent targets in crossfire shootings and murders across the province. They made the call as Child Protection Month got under way, placing the spotlight on children’s rights during May. Child protection and anti-GBV activist Lucinda Evans said after Nomdo started her five-year tenure in office in 2020, they have no confidence in the office. “The general safety of children has not been an issue which the commissioner has addressed since the inception of her position. At the end of the day, she has been mum on commenting regarding these type of issues. Is her silence due to her following a…

Umkhonto we Sizwe (MK) operatives and youth activists Coline Williams and Robert Waterwitch of the Ashley Kriel Detachment were among those posthumously honoured with National Orders bestowed on them by President Cyril Ramaphosa this week. Ramaphosa bestowed National Orders on 32 recipients during a ceremony held at the Sefako Makgatho Presidential Guest House in Tshwane on Tuesday. “The men and women we honour here have played an invaluable role in giving birth to the free South Africa that we all enjoy today. Our nation owes each of them a great debt. By bestowing these National Orders, we want to ensure that their contributions are recognised and spoken of by generations to come,” Ramaphosa said. Williams and Waterwitch were young activists who paid with their lives in the quest for South…

THE relevance of Workers’ Day in South Africa becomes lost when lowly paid farmworkers are still transported on the back of an open truck. The importance of this day becomes meaningless when some employers refuse to pay their workers the minimum wage. The day has no value to the millions of workers who see no improvement in their working conditions, especially with laws addressing such that are not enforced. Many workers, in particular those on the farms, will tell you of how much May 1 would mean to them if only their employers were held responsible for some of the atrocities we have often reported on in our news pages. This editorial deliberately highlights the issues in the agricultural sector because some employers continue violating the basic human rights of…

Zimbabwe’s new ZiG notes and coins began circulating yesterday, marking a significant step in the country’s monetary reform to curb inflation just three weeks after the electronic form of the currency started trading. The Reserve Bank of Zimbabwe (RBZ), the country’s central bank, introduced the new gold-backed currency, known as Zimbabwe Gold or ZiG, on April 5, replacing the inflation-ravaged Zimbabwean dollar. ZiG joins a basket of currencies accepted as legal tender in Zimbabwe, with the US dollar currently dominating over 80% of all domestic transactions. In the capital, Harare, residents queued at banks to withdraw the new currency, with many expressing optimism about the change. Mutsa Muteve, a local resident, hailed the introduction of ZiG, noting its backing by gold as a unique feature that could positively impact the…

NAIROBI: Floods and landslides across Kenya have killed 179 people since March, with hundreds of thousands forced to leave their homes, the government said yesterday, as dozens more were killed in Tanzania and Burundi. Torrential rain and floods have destroyed homes, roads, bridges and other infrastructure across the region. The death toll in Kenya exceeds that from flooding triggered by the El Niño weather phenomenon late last year. In Kitengela, 33km from Nairobi, Kenya Red Cross workers were helping to rescue residents whose homes were marooned by flood waters. They were also trying to rescue tourists trapped at camps in Narok, 215km from Nairobi. | Reuters…

LONDON: Bitcoin slid by almost 6% yesterday, having posted its worst monthly performance in April since late 2022, as investors pulled money out of cryptocurrencies ahead of an interest rate decision by the Federal Reserve later. The value of the world’s most traded cryptocurrency fell by nearly 16% in April, as investors booked profits on a sizzling rally that has taken the price to record highs above $70 000 (R1.3 million). Bitcoin fell by as much as 5.6% to its lowest since late February. The price of bitcoin is now a full 22% below March’s record of $73 803, but it is still up 35% so far this year and double where it was this time last year. | Reuters…

FEW would have called it a few months ago but the Sharks have risen from the canvas to be South Africa’s only hope of landing a knockout blow in the European competitions. It was not that long ago that the Durban team were stone last in the United Rugby Championship after 10 losses in 11 games but now they are two games away from serious silverware. Yes, the Challenge Cup is a poor relation to the Champions Cup but if the Sharks can win it, it will be the first time a South African team has won a cup tournament in Europe. Given the growing chorus of dissent in Europe regarding including South Africa in European tournaments, this would be of massive consequence. This was highlighted by the dissent displayed…

As the negative impacts of climate change increase and livelihoods and local economies erode, and as jobs continue to shrink and dwindle leading to upheavals in societies, governments need options to addressing the crisis of unemployment as well as create new patterns of economic inclusion. In light of the potential job losses and or regional shifts in job markets, one needs to argue that small medium and micro enterprises (SMMEs) will remain the net job creators in the green economy as the subsequent mitigation and adaptation policies on labour markets is being unbundled in search of alternative models of growth in the midst of the net-zero growth and development paradigm. The challenges of achieving a net -zero ambition and creating decent work for all are closely linked and an integrated…

Impala Platinum (Implats) is jostling for the retrenchment of 3 900 employees from its South African operations, citing compressed operating margins despite strong orders for platinum group metals (PGMs), higher refined production and elevated sales for the quarter to the end of March 2024. Implats last week announced plans to retrench from the Marula, Rustenburg, and the recently-acquired Bafokeng operations. This worsened a wave of retrenchments in the industry, with Sibanye- Stillwater also recently announcing the shut down of some shafts. Implats CEO Nico Muller on Tues- day said the group was still under pressure from low commodity prices. “Margins remain compressed and we are pursuing a set of actions to ensure that each of our operations is set up to more robustly deliver sustainable free cash flow…

TO ENSURE that the logistics are as smooth as the jazz festival, the City has reminded residents and motorists that temporary road closures will be in place to accommodate the free concert on Greenmarket Square and the main event at the Cape Town International Convention Centre (CTICC). A precursor to the Cape Town International Jazz Festival (CTIJF), the free concert returns for the first time since 2019 with a line-up featuring Judith Sephuma, the UK’s Matt Blanco, Kujenga, Micaela Kleinsmith, Jerome Rex, DJ Autto along with DJ Eazy and Sophia. Mayco member for safety and security JP Smith said: “The return of the Cape Town International Jazz Festival is something that we have been waiting in anticipation for a number of years. The festival’s absence over the last four years…

THE Electoral Commission of South Africa (IEC) is taking two leaders of the MK Party to task over their public utterances that the elections body believe threatened elections and violated the Electoral Code of Conduct. The IEC this week said it is taking Bonginkosi Khanyile and Visvin Reddy to court over their public utterances that threatened the upcoming national and provincial elections. Deputy CEO of the IEC, Mawethu Mosery, said their papers had been filed with the Electoral Court. However, the MK Party has accused the IEC of singling out the party, saying that politicians from other parties have been making inflammatory statements without being sanctioned. In March, the two MKP members threatened there would be no elections and that there would be anarchy if former president Jacob Zuma,…

TAXPAYERS have coughed up nearly R300 billion in bailouts to four struggling state-owned enterprises falling within the Public Enterprises Department over the past five years. Eskom received the lion’s share of the government’s bailouts, which amounted to a whopping R234bn during the same period. The government has received only R1 million in dividends from just one of the SOEs since May 2019. This was revealed by Public Enterprises Minister Pravin Gordhan when he responded to parliamentary questions from DA MP Farhat Essack. Gordhan’s responses showed that the SOEs received the following amounts in bailouts: • SAA received R33.1bn. • Eskom R234.6bn. • Transnet R11.7bn. • Safcol received nothing. • Alexkor received nothing. • Denel obtained R9bn. Gordhan said Eskom has received government support of R158.6bn through the Special Appropriation…

TWO more children have fallen victim to gun violence, this time siblings who were shot and killed in the crossfire in Gugulethu. Loyola Mfundisi, 8, and her one-year-old brother Khanide were shot on Monday afternoon while playing outside their home in the Lotus informal settlement. The young girl was struck by a bullet while trying to take her brother inside their house after shots were fired. Police spokesperson Wesley Twigg said police were investigating two counts of murder following the shooting incident in NY3A. “According to reports, the victims were playing outside when unknown men started shooting at each other. The children were caught in the crossfire and were transported to a local hospital where they were declared deceased,” said Twigg. The alleged shooters fled the scene and have yet…

The rigour of India’s election practices hold out as an example for others The world today is turbulent and unpredictable. Many countries have still to recover from the socio-economic damage of Covid. A conflict now in its third year in Ukraine has had a serious impact on energy, food and fertiliser security. Fighting in West Asia triggered by the October 2023 terror attack on Israel could escalate into something wider. Drone and missile attacks in the Red Sea are disrupting global shipping, even as piracy in the Gulf of Aden becomes more threatening. In Asia, territorial claims and disregard for law and agreements have created new tensions. The long standing challenge of terrorism remains, waxing and waning, but still, always there. For India, these larger uncertainties are compounded by the…

Supporters of Israel attacked a pro-Palestinian protest camp at the University of California in Los Angeles yesterday, while New York’s mayor said a pro-Palestinian protest at Columbia University broken up by police had been led by outsiders. Witness footage from UCLA, verified by Reuters, showed people wielding sticks or poles to hammer on wooden boards being used as makeshift barricades to protect the pro- Palestinian protesters before police were deployed to the campus. On the other side of the country, New York police arrested pro-Palestinian demonstrators holed up in a building at Columbia University and removed a protest encampment on Tuesday night. New York City mayor Eric Adams said about 300 people had been arrested and he blamed the protests on outside agitators, but without offering concrete evidence. The October…

MORE than 20 people died after part of a highway collapsed because of heavy rains in southern China’s Guangdong province yesterday, state media said. Guangdong, a densely populated industrial powerhouse, has been lashed by rainstorms in recent weeks, causing severe flooding and landslides in some areas. The downpours have been much heavier than would normally be expected for the time of year. A stretch of road between Meizhou city and Dabu county in Guangdong province caved in yesterday, trapping 20 vehicles. At least 24 people died and 30 were hospitalised. A photograph published by state broadcaster CCTV showed wrecked vehicles lying in a deep muddy pit where the highway once ran. Recovery work was continuing. Dozens of emergency vehicles and cranes congregated along the intact section of the road, which…

Istanbul: Turkish police yesterday fired tear gas and rubber bullets and detained more than 200 protesters after authorities banned May 1 rallies at Istanbul’s historic Taksim Square. More than 40 000 police were deployed across Istanbul, blocking even small side streets with metal barriers in an attempt to prevent protesters gathering. Police clashed with demonstrators near the City Hall in the Sarachane district, firing tear gas and rubber bullets to stop protesters breaching barricades, reports said. Tall metal barriers were put up around the square, where authorities have banned rallies since 2013, when it was the focus of demonstrations against President Recep Tayyip Erdogan’s government. | AFP…

Kyiv: Ukraine yesterday presented an AI-generated spokesperson called Victoria, who will make official statements on behalf of its foreign ministry. The ministry said it would “for the first time in history” use a digital spokesperson to read its statements, which will still be written by humans. Dressed in a dark suit, the spokesperson introduced herself as Victoria Shi, a “digital person”, in a presentation posted on social media. The foreign ministry said the statements given by Shi would not generated by AI but “written and verified by real people”. Ukrainian Foreign Minister Dmytro Kuleba said the main reason for creating her was “saving time and resources” for diplomats. Shi’s creators are a team called The Game Changers who have also made virtual reality content related to the war in Ukraine.…