Índex per 2022-02-25 a Star

Edward West edward.west@inl.co.za SPUR Corporation dished up a whopping 119.4 percent increase in headline earnings to R59 million in the six months to December, 2021 as trading conditions improved with the easing of Covid-19 lockdown restrictions. There had been a strong increase in restaurant foot traffic in the last few months of 2021, chief executive Val Nichas said yesterday. Group revenue grew by 40.3 percent to R441m due to improved franchised restaurant turnovers, higher sales in the five company-owned restaurants and increased sales from the manufacturing and distribution division. Comparable profit before income tax, excluding once-off and unusual items, increased by 96.3 percent. An interim dividend of 49 cents per share was declared and the group was ungeared at the end of December, with R259m cash on…

Banele Ginindza banele.ginindza@inl.co.za CABINET and the Takatso Consortium have given the strongest indication yet that national airline South African Airways is still up for a 51 percent takeover by the consortium, eight months after the deal was first put in the public domain. In a statement yesterday, the Takatso Consortium said it could “confirm the recent Cabinet announcement that the sale and purchase process has been concluded”, whereby the Consortium would buy a 51 percent stake in SAA subject to various regulatory approvals and conditions precedent. This was confirmed by an earlier statement issued by the Presidency “that further progress had been made in the disposal of 51 percent of shares in SAA to Takatso. This comes shortly after Finance Minister Enoch Godongwana in his inaugural…

Debashine Thangevelo debashine.thangevelo@inl.co.za Big breaks don’t fall on one’s lap. But hard work, passion and hunger certainly help pave the way for such opportunities, especially when you make an unforgettable impression and, in doing so, have your praises sung to the right ear. That is exactly what happened with SA actress Jenna Saras, who viewers might remember from Fried Barry. I chatted with her ahead of the big-screen release of Singleholic. She said: “Oh yay, it’s finally coming out. We started shooting in 2018. I know there were some issues with the edits and we did some ADR (automated dialogue replacement) in 2019. Then I was told there were some issues with the producer and director and it got put on hold.” When the pandemic struck in 2020, the release…

Lehlohonolo Mashigo lehlohonolo.mashigo@inl.co.za CIVIL society organisations Assembly of the Unemployed and Cry of the Xcluded say the Budget tabled by Finance Minister Enoch Godongwana is a pro-big business reform agenda of President Cyril Ramaphosa. Both organisations say they are surprised that during a period in which 2.1 million workers have been made unemployed, left with a measly R350 month grant (that did not rise despite the 4.5% inflation rate), the super-wealthy and corporate investors are prioritised. “There are no pronouncements on a basic income grant, on the burden of care women face, or on repaying the public sector wages that were illegally cut, again and again, violating the three-year wage agreement that should have gone through by 2021. “Workers remain under attack, and in spite of a few hundred…

STAFF REPORTER BUSINESS and property owners can still find value for the property rates charged by the City of Joburg, as the ratio and tariffs remain relatively low amid a sluggish economy. Johannesburg is striving to return to basics and one of its strategic priorities is “a business-friendly city”. In the last financial year, the city gave back its customers more than R2.2 billion in rebates for categories of properties for those who qualified. This month, the city embarked on another round of rates policy, credit control policy and debt collection policy review meetings to get property owners’ inputs. Sihle More, the city’s property branch group head, said the municipality sought to use its rates policy to assist the under-privileged and ensure businesses retain facilities in the city. She…

AS THE City of Joburg’s mayor Mpho Phalatse resuscitates the “Pothole Patrol” initiative following torrential rains, the partnership with two insurance firms headquartered in Johannesburg has so far repaired over 75 000 potholes on municipal roads. Ratified in May last year, Pothole Patrol is a three-pronged partnership between the Joburg Roads Agency (JRA) and commercial insurers, Discovery Insure and Dial Direct Insurance. The partnership aims to manage the repair of potholes throughout Johannesburg in a unique data-driven initiative designed to make roads safer and more conducive for driving. Phalatse said the partnership was bearing fruit and had thrown the city’s weight behind it once again to deal with the pothole problem in the metro. “The Pothole Patrol initiative has proven to fix potholes across Johannesburg at a greater pace, to…

Thabo Makwakwa thabo.makwakwa@inl.co.za House music legend Frederick Ganyani Tshabalala, better known as DJ Ganyani, has expressed shock at the passing of hip-hop rapper Rikhado Muziwendlovu Makhado, known as Riky Rick, and said the creative arts sector had been severely affected by the deaths of several artists recently. In an interview with The Star’s sister paper, the Daily News, Ganyani said he was saddened by the news of the death of the rapper, who took his life. The family of the hip-hop star announced his passing on Wednesday. Ganyani said: “Depression is real, and the African community needs to take this seriously because it is a very serious mental illness. We focus more on physical illness and overlook other illnesses. Worse in the creative industry, people perish and when they…

VISVIN REDDY | Morningside THE finance minister has heeded the call by African Democratic Change not to increase VAT and fuel levies. This is welcome. However, we are disappointed that no reduction in fuel taxes was considered. South Africans pay exorbitant fuel taxes and levies and the price of fuel is unaffordable. Fuel bought from South Africa for sale in neighbouring countries is cheaper because we pay higher taxes than they do. The announcement that vulnerable groups like the elderly, those with disabilities and others receiving care dependency grants will receive only R90 more from April is an insult. Can a person living off the grants survive under the current cost of living? Municipal tariffs and the cost of food and transport have all gone through the roof,…

JULIAN KIEWIETZ julian.kiewietz@inl.co.za SOUTH Africa’s Sindile Manengela has a chance to elevate his career this weekend when he steps into the UAE Warriors cage. The Extreme Fighting Championship bantamweight king swooped in at short notice and will take on Cameroon’s Jaures Dea (7-4) in the co-main event of UAE Warriors 25: Africa tonight. The first of its kind for the brand, UAE Warriors: Africa will be a series of events dedicated to showcasing some of the best signed and unsigned African athletes, helping to provide more platforms to advance their careers and will also be an opportunity of a lifetime considering the promotions’ close ties with the world’s biggest mixed martial arts promotion, the Ultimate Fighting Championship. Following his win over Faeez Jacobs (7-4) for the vacant EFC bantamweight belt…

Siphelele Dludla siphelele.dludla@inl.co.za INVESTORS have remained confident that the fiscal path contained in the Budget did enough to starve off a credit ratings downgrade, and provided a firmer footing for an outlook review from negative to stable. Fitch Ratings, one of three major ratings agencies, however, warned yesterday that continuing breaches of expenditure ceilings pointed to difficulties in containing spending. Fitch said there was a risk that recent strong revenue growth might prove temporary. Finance Minister Enoch Godongwana on Wednesday tabled his maiden Budget, showing stronger fiscal revenue. Godongwana said consolidated spending was expected to grow at an annual rate of 3.2 percent over the next three years, from R2.08 trillion in 2021/22 to R2.28 trillion in 2024/25. The finance minister said the improvement in public finances had been enabled…

Edward West edward.west@inl.co.za DISCOVERY lifted normalised headline earnings per share by 26 percent to 437.7 cents for the six months to December 31 after it grew through the pandemic, with a strong performance from Discovery Bank and the establishment of Amplify Health. Despite the good performance though, no interim dividend was declared, which saw its share price slide in intraday trade, down 4.35 percent to R153.61. Management said that over the period, their strategy remained three-pronged: navigating the pandemic; building on the business model, with good traction in Discovery Bank; and the conclusion of the Amplify Health transaction with AIA Group on February 15, 2022 and focusing on cash and capital management. Discovery is injecting its Vitality and Health capabilities into a new health InsurTech joint venture with the AIA…

In2assets will be auctioning a rural retail centre with national tenants and a distribution hub in Hammanskraal on March 23 at 11am. The auction will be livestreamed and bidders will be able to submit their bids digitally. The property, on the corner of Old Warmbaths and Kudube Douglas Rens roads, which serves as a shopping centre for the surrounding rural areas, is at a hub linking North West, Limpopo, Mpumulanga and Gauteng, and is about 30 minutes from Pretoria. The property comprises three erven, totalling 24 335m², and has a diverse tenant mix with anchor tenants Big Save Wholesale and Build-It. l Erf 4449 has eight tenants – Big Save Wholesale, Big Save Liquors, Build-It, Revoninga trading as Safina Cash and Carry, SW Jenfa, Strick & Straight Burial trading as…

Irate 6 000 will be applying to intervene in the proceedings instituted by Sekunjalo chairman Dr Iqbal Survé and 42 others Mwangi Githahu mwangi.githahu@inl.co.za MORE THAN 6 000 clients who claim to have been racially or otherwise discriminated against by South African banks have come together in a class-action suit against the institutions. The clients, who are being represented by Joburg law firm Gardee Godrich Attorneys, will be applying to intervene in the proceedings instituted by Sekunjalo Group executive chairman Dr Iqbal Survé and 42 others at the Western Cape Equality Court. Attorney Godrich Gardee, who has been involved in a number of public litigations, said his clients would have eventually brought their own case independently against the banks, but the Sekunjalo matter had acted as a trigger. He…

Anita Nkonki anita.nkonki@inl.co.za AFTER a decade in the entertainment industry, local DJ and producer Ezra Mlotshwa continues to be on an upward trajectory in his career endeavours. The star, who hails from Witbank, took The Star through his music journey and touched base on one of the biggest accolades he prides himself with. He believes his dedication and never-giving-up approach has brought him success. The DJ just released his music offering Umuntu Womuntu featuring Leehleza & Abuti Lolo following the big success of Solala which did well on the charts. Mlotshwa knuckled down and built a name for himself, from sharing desks and stages with some renowned musicians to his debut on the house show, Hit Refresh on Vuzu TV. In less than six months of mastering the decks,…

SMISO MSOMI smiso.msomi@inl.co.za MAMELODI Sundowns and Al Ahly, probably the favourites to qualify from Group A, go head-to-head in the Champions League at Cairo International Stadium tomorrow. The Brazilians know that a draw in Cairo will mean a lot, but they will also be quietly believing they could possibly get one over Al Ahly, as they are the only team to have registered a win in the group so far. Al Ahly’s Red Devils, usually a force to be reckoned with, have not quite been in red-hot form since the turn of the year. They have had to endure a tough schedule, competing in four different competitions, including a gruelling trip to the United Arab Emirates to take part in the Club World Cup. Pitso Mosimane’s men have managed to…

Morgan Bolton morgan.bolton@inl.co.za CHANGE was the name of the game yesterday as coach Ivan van Rooyen made several of them to his Emirates Lions team in the hope that his side can refashion their fortunes and alter the direction of their downward spiral. Some changes were enforced, while others will offer a test of character, while others still were a necessity; and the Lions mentor will hope that the recasting of some of his protagonists will help the team put in a decent shift when they face a powerful Leinster-outfit today (kick-off 9.30pm). The clash is one of those United Rugby Championship (URC) encounters that has an air of inevitability about it – it has already been decided that the Lions will be handsomely defeated at RDS Arena – but…

Petrol price in SA set to come under more pressure leading to higher inflation Siphelele Dludla siphelele.dludla@inl.co.za RUSSIA’S final push into Ukraine caused a seismic risk-off sentiment that reverberated across the globe yesterday, escalating oil prices to an eight-year high while plunging financial markets into turmoil and weakening all major currencies. Global oil prices rose rapidly, the highest in eight years, after Russia launched a full-scale military operation in Ukrainian cities. The escalating Ukraine/Russian conflict spooked investors on fears of supply constraints, driving the price of Brent crude to jump 8 percent to reach $105.29 (R1 610.91) per barrel by 2pm. This was the first time that the price of Brent crude has crossed the $100-mark since September, 2014, as Russian forces fired missiles at several cities in Ukraine, including…

Mad Max: Fury Road actress Charlize Theron claims she “didn’t feel safe” after a huge row with co-star Tom Hardy during filming for the 2015 blockbuster. The 46-year-old actress has apologised “profusely” for their infamous on-set rows while shooting the 2015 post-apocalyptic blockbuster – which they have both opened up about in the past – and she admitted their behaviour was “not a conducive working environment”. In Kyle Buchanan’s new book, Blood, Sweat Chrome: The Wild and True Story of Mad Max: Fury Road – as quoted by USA Today – she said: “It was like two parents in the front of the car. “We were either fighting or we were icing each other – I don’t know which one is worse – and (our co-stars) had to deal…

Chad Williams AFTER a series of threats by President Vladimir Putin, Russia invaded Ukraine yesterday. Interfax Ukraine reported rocket attacks on military facilities throughout Ukraine yesterday, and that Russian troops had landed in the southern port cities of Odessa and Mariupol. It also reported staff and passengers evacuating Kyiv’s Boryspil International Airport. Russia had launched a full-scale invasion of Ukraine and was targeting cities with weapons strikes, Foreign Minister Dmytro Kuleba said in a tweet yesterday. World leaders have condemned in the strongest terms the violent attack on the Eastern European country, with many countries placing sanctions on Russia in retaliation for the invasion. Yesterday, the South African government called for a peaceful resolution to the escalating conflict between the Russian Federation and Ukraine. South Africa said it was dismayed…

Anita Nkonki anita.nkonki@inl.co.za COMEDIAN Lebogang Tlokana, known as The Funny Chef, is set to be joining current host Nomsa Buthelezi for season 12 of Our Perfect Wedding and will make her debut next month. Tlokana, from Pretoria, has acted alongside David Kau in the film Leeto la Taxi, had a role in the Mzansi Magic telenovela The River, hosted the DStv Mzansi Viewers’ Choice Awards red carpet, and been on numerous magazine covers. Tlokana may be new to the Sunday night prime time favourite but is no stranger to the limelight. She boasts over 1.8 million followers of her Facebook account and half a million on other accounts such as Instagram and Twitter. While weddings are about love, union, and families, they are also about the dress, the décor, and…

Sonri Naidoo sonri.naidoo@inl.co.za SOUTH Africa’s first all-black African crew made history at this year’s 2021 Intercontinental GT Kyalami 9-hour race. After finishing in ninth place, Tschops Sipuka and his partners, Xolile Letlaka and Philip Kekana, who are from rural villages in the Eastern Cape, continue to receive overwhelming response from the public for their representation. The public have seen the trio as pillars which people of their colour can look up to, saying that mattered more than the ninth-place finish. Sipuka reflected on what the achievement meant and said the team did their best with the resources they had. “We did the best with what we had but the whole thing was about giving hope to an African child; to say they can also do it with the right resources,…

MIHLALI BALEKA mihlali.baleka@inl.co.za BRANDON Peterson has credited tenacity and hard work as the fuel that drove him to the top. That’s why after playing second fiddle to some of the most decorated goalkeepers in South Africa, he is pleased that his hard work is finally paying off. Kaizer Chiefs and Ajax Cape Town have produced some of the best keepers that SA has ever had. Their proteges Moeneeb Joseph and Itumeleng Khune were No 2 and No 1 for Bafana Bafana at the 2010 World Cup. Peterson, though, has been privileged to get a feel of the two clubs. He cut his teeth at Ajax before being promoted to the seniors. And last season, he joined Chiefs after spending a year on the sidelines due to the Soweto club’s transfer…

ZAAHIER ADAMS zaahier.adams@inl.co.za TABRAIZ Shamsi is banking on the Titans’ experience to get them through their CSA T20 Challenge semi-final against the Dolphins at St George’s Park today. The Proteas wrist-spinner has been involved in plenty of high-pressure international matches, but he also believes the fact that the Titans have been the most successful franchise in the country for a number of years will give the Sky Blues the edge. “The guys in our dressing room have played a lot of play-off matches and that is an advantage,” Shamsi said. “It’s knowing that you have been here before that often keeps you calm in these matches.” Shamsi is, of course, the No 1 T20 bowler in the world due to his star-studded performances for the Proteas in the shortest format…