Índex per 2022-04-25 a Star

OLD MUTUAL chairperson Trevor Manuel received a 9.7 percent increase in his annual fees in the financial year to April 1, 2021, much higher than inflation but also, a year during which the group, which has more than R1.3 trillion under management, managed to perform strongly against the Covid-19 impacted 2020 financial year. The group also released a substantial 58 page remuneration report with its annual report on Friday – the group has in the past come under fire from its shareholders at annual meetings regarding its remuneration policies. The reported showed that executive’s remuneration, including the short- and long-term incentives, increased by around 20 percent for some directors and prescribed officers and declined marginally for three out of ten of them. Old Mutual Investments managing…

SIBANYE-STILLWATER, battling to contain a fallout with employees after making a revised offer to striking gold miners, is anticipating a difficult “socio-political” environment in South Africa as it focuses on “managing relationships with labour and labour unions” this year. Sibanye has been rocked by a nearly two-month strike by mineworkers at its South African gold operations. On Friday, Sibanye offered its gold miners a revised and final settlement offer reflecting an R850 a month annual increase for the period 2022 to 2024. In its annual report for 2021, which was released Friday, Sibanye said its “philosophy on wage increases is therefore to retain salary cost escalation at levels close to inflation” through “collective wage agreement” with the unions. Two labour unions, Association of Mineworkers and Construction Union (Amcu) and National…

A DISASTER upon disaster within a perfect storm. The recent flooding in KwaZulu-Natal (KZN) has highlighted the inherent shortcomings in the housing sector, which can no longer be ignored. On April 18, President Cyril Ramaphosa announced that the Cabinet had declared a National State of Disaster in response to the floods that devastated KZN, leaving at least 448 people dead, with several hundred still missing. From early estimates, at least 14 000 homes have been damaged or destroyed. Infrastructure damage to water, electricity and sewage systems will amount to billions of rand. An estimated 45 000 people are currently “displaced” and in need of food, water and shelter. (“Displaced” being an understatement for one of the most catastrophic experiences that a human being should ever endure.) After the…

Askari has released on the big screen just in time for Freedom Day commemorations. Many black people took to the polls to cast their votes for the first time on Wednesday, April 27, 1994, marking the end to apartheid. In light of this historical moment, the SA State Theatre, in conjunction with Ster-Kinekor, presents the riveting production Askari, that promises to keep audiences on the edge of their seats. Directed by award-winning filmmaker and theatre practitioner Sello Maseko, Askari follows the story of freedom fighters who became double agents and deadly assassins for the infamous Vlakplaas. This stage-to-screen film comes on the back of two Naledi Theatre Awards nominations, Best Script & Choreography, from its debut at the South African State Theatre (SAST), where it was filmed last year. It…

A JOBURG businesswoman, who is the owner of a student accommodation property and lodge, is in despair, and feels betrayed and angered by college students who have defaulted on their rent and disappeared without a trace. Dipuo Modingwane said that she was owed almost R110 000 by tertiary students who signed rental leases for her units. The dispirited Modingwane said that over the 2020 and 2021 academic years, students from the Central Johannesburg TVET College (CJC) approached her for accommodation. “They are all students from the Central Johannesburg College (CJC). It was the college that referred them to me. It is an agreement made between me and the college, because they said the students were on the NSFAS bursary,” Modingwane explained. The National Student Financial Aid Scheme (NSFAS) pays…

Liverpool closed the gap on Premier League leaders Manchester City to one point as the quadruple chasers pushed Everton deeper into relegation trouble with a 2-0 win, while Chelsea beat West Ham United 1-0 to ease their top-four anxiety yesterday. Jurgen Klopp’s side had to work hard to break Everton’s stubborn resistance in a fractious Merseyside derby at Anfield. They couldn’t muster a shot on target until Scotland defender Andrew Robertson scored with a second-half header. Divock Origi’s late strike ensured Liverpool kept the pressure on champions City, who had crushed Watford 5-1 on Saturday to move four points clear at the top. With five games left for both Liverpool and City, the title race looks destined to go down to the wire. Liverpool, trying to become the first English…

World champion Max Verstappen rekindled his title defence and acclaimed his resurgent Red Bull team yesterday after he led Sergio Perez home in a dominant one-two triumph in Ferrari’s backyard at the Emilia Romagna Grand Prix. In a rain-affected race, the 24-year-old Dutchman came home 16.5 seconds ahead of his Red Bull teammate as Charles Leclerc and Ferrari endured a disappointing day in front of passionate home support at the Autodromo Enzo e Dino Ferrari. Leclerc, who started second on the grid, finished sixth after making a poor start and spinning in the closing laps while running third, allowing Lando Norris to take third for McLaren. After Saudi Arabia, it was Verstappen’s second win this season which has also included two retirements, and the 22nd win of his career. He…

ANHEUSER-BUSCH InBev has introduced Chernigivske, Ukraine’s most popular beer brand, to countries such as the UK, Germany, Belgium, France, Netherlands, Denmark, Austria, Po- land, Italy, Colombia and Brazil, as part of its humanitarian relief efforts to Ukraine. Additional markets are planned and all profits from the sale of the beer will go to support humanitarian relief efforts, with AB InBev guaranteeing at least $5 million (R77.8m) of support from this initiative, the global brewer said on Friday. The move comes as Russia’s war on Ukraine continues and as a growing number of companies have stopping sales of products and services in Russia as well as discontinuing operations, all of which impact a firm’s financials. The world’s largest brewer, which makes Budweiser, Corona and Stella Artois, said its employees,…

THE CITRUS Growers’ Association of Southern Africa (CGA) on Friday welcomed the progress made to return Durban port to full functionality ahead of the 2022 citrus export season after catastrophic KwaZulu-Natal floods. Justin Chadwick, the chief executive of CGA, said that it had been engaging closely with the government and stakeholders across the citrus value chain on efforts to return the Durban port back to full functionality, following the catastrophic rains and flooding in KwaZulu-Natal. “We are pleased that there has been significant progress achieved over the past week with the Department of Public Enterprises (DPE), Transnet and eThekwini Municipality working speedily to repair the extensive damage caused by the flooding,” Chadwick said. Government entities had managed to reopen Bayhead Road, which is the main feeder road to the container…

NON-RESIDENTIAL building statistics hinted at a slowing down in commercial building activity in 2022, revealing that the levels had never fully recovered from the 2020 lockdown times, FNB Commercial Property finance property sector strategist John Loos said on Friday. The Statistics South Africa (StatsSA) February 2022 release of non-residential building plans data pointed to a mildly weakening picture for the commercial property building sector early in 2022, he said. The square meterage of total industrial, retail and office space building plans passed fell by -66.25 percent year-on-year in February 2022, after a +103.85 percent growth spike in January. The February 2022 level of plans passed was still -41.1 percent down on the February 2020 pre-lockdown level. The broader trend on a 12-month moving total basis indicated…

Oversight toothless, in the gutter – Godi STANDING committee on public accounts (Scopa) chairperson Mkhuleko Hlengwa has come under fire for the manner in which he dealt with Eskom board member Busisiwe Mavuso during a parliamentary inquiry into Eskom. Mavuso was asked to leave a Scopa meeting on Friday after a heated exchange with Hlengwa. Hlengwa accused Mavuso of “displaying theatrics” when she was asked about the problems at Eskom. She had blamed the ANC for the rolling black outs and problems at Eskom, but Hlengwa described her behaviour as “politics of the gutter”. Scopa had visited several Eskom power stations as part of oversight duties. Mavuso had made it clear that the utility’s board would not take the fall for problems caused by the ANC, with Mavuso then held…

“WHEN we learned that our baby girl had a hole in her heart, I think I had a nervous breakdown. “The heart is not something you can live without, like an arm or a leg. The heart is so vulnerable and central to life.” These are the words of Tintswalo Baloyi, whose baby Atang celebrated her first birthday this month, just two weeks after undergoing a specialised procedure to correct the life-threatening heart defect with which she was born. “Since the heart operation, Atang is recovering very well. She’s enjoying lots of attention from us and her grandmother, and we were so happy to celebrate her first birthday. Atang is the most recent beneficiary of the Heart to Heart Campaign, a corporate social investment match funding initiative of Medipost Holdings…

Thespian Kate Normington tells an incredible tale of love and redemption in her inspiring new musical revue Storm in a B Cup, currently showcasing at the Theatre On The Square, Sandton until April 30. Conceptulised by Rowan and Drew Bakker, Storm in a B Cup is co-written and directed by Russ Savadier. Accompanied on the piano by musical director Rowan Bakker, she takes the audience back to where it all began – from her West End debut in Sunset Boulevard to the multitude of fabulous characters she’s played over the last three decades. The multi-award-winning performer invites audiences to a humorous evening on the ups and downs of a life, “treading the boards in the magical world of musical theatre”. Normington said: “Storm in a B Cup is a funny…

April 27 commemorates the day in 1994 when the first democratic elections were held in South Africa. oN THIS DAY, South Africa celebrates Freedom Day to mark the liberation of our country and its people from a long period of colonialism and white minority domination (apartheid). We are 28 years into our new democracy and many issues are still rife in our country. We are still a long way from solving many of the legacies of apartheid and now we face new challenges, Like growing inequality among South Africans and political and economic instability caused by a new elite who are interested in pursuing their own interests. Freedom Day therefore serves as a reminder to us that the guarantee of our freedom requires us to remain permanently vigilant against…

comments by Arthur Zwane in the wake of Kaizer Chiefs’ 1-0 defeat to the enterprising Stellenbosch FC in the Winelands on Saturday suggest the players were overcome by the fear of failure. Zwane and Dillon Sheppard have been roped in as interim co-coaches after head coach Stuart Baxter was sacked a few days ago. After the match, Zwane said the players were tentative in their approach, and it appeared “the boys are afraid of playing” their natural games. This might have been a hang-over of the Baxter era when the players may have been over-coached. The team would have been forced to stay with the pre-decided game plan rather than play what was in front of them. Zwane and Sheppard decided on an untried combination after Happy Mashiane was offered…

RECURRING power outages plaguing South Africa, India and other emerging market economies have been described as a threat that could significantly hamper global economic growth. This comes as South Africa’s power utility Eskom warns of a worst-case scenario that could see the country experiencing more than 100 days of power cuts during the winter season if the national grid faces additional pressure. Eskom last week ramped up its rotational power cuts to Stage 4 as the grid suffered numerous unplanned breakdowns at a number of power stations, but by the weekend the grid had stabilised, with the lights back on. Citadel global director Bianca Botes on Friday said the challenges of Eskom had been apparent for a number of years, with little light at the end of the tunnel…

IDOLS SA judge Somizi Mhlongo has taken to social media to ask his fellow friends, fans and followers to keep his dear friend and industry colleague, Lira, in their prayers. Lira, born Lerato Molapo, suffered a stroke recently while in Germany for work purposes. After being brought back to South Africa to receive medical care, her family issued a statement stating that the stoke has affected her ability to communicate and impacted her speech. Shocked fans and peers offered prayers and messages of hope to the Feel Good singer. Posting a TikTok video of Lira singing on his Instagram page, Somizi wrote: “Our thoughts and prayers can make a huge difference… i ask of u to keep her in our prayers… i know she’s gonna come out triumphant… we…

THE ANC has dismissed rumours that the party’s deputy secretary general Jessie Duarte has died, calling it fake news. The party warned that if the “misleading rumours” persist, the ANC will be left with no choice but to approach the relevant authorities to investigate the origins, and act against those responsible. “The ANC has learnt with great shock of fake news messages doing the rounds that Duarte has passed on. These fake news messages are very inhumane, barbaric, inconsiderate and hurtful to the person of the ANC’s deputy secretary-general, her family, friends, comrades and the broader mass democratic movement,” said ANC national spokesperson Pule Mabe. Mabe added: “The ANC dismisses these claims peddled by fake news messages across social and mainstream media platforms.” Duarte who was handling the work at…

IT WAS all things fun and entertaining this past weekend at the much-anticipated Cotton Fest in Newtown, Johannesburg. Family, friends and fans graced the event in numbers to celebrate the phenomenal ideas that were brought to life by the late music icon and fashion trendsetter, Rikhado “Riky Rick” Makhado. Cotton Eaters, as they are called because of their affinity for fashion, pulled out all the stops to look the part. The Star was also part of the experience in which everyone went all out to celebrate Riky’s life. Various artists graced the stages, and gave stellar performances. Cassper Nyovest, Nasty C, Nadia Nakai and many more had the crowd singing along to their hits. The event was filled with memorable moments, with an emotionally charged tribute to Ricky, and artists…

There can be a bevy of complaints directed towards the officiating and apparent time-wasting shenanigans in the Emirates Lions-Connacht encounter on Saturday, but the truth of it is that the Joburgers didn’t execute with accuracy when in control of the game. The Irish franchise seemingly employed a heavy dose of gamesmanship in their 33-30 United Rugby Championship (URC) triumph at Emirates Airline Park – slowing down play during the encounter after they took a healthy 14-0 lead in the first 15 minutes – which frustrated the Lions no end. Whether it was a clever strategy, or the nature of a clash on the Highveld, it played into the hands of Connacht. “Yeah, we had injuries,” Connacht coach Andy Friend disputed post-match. “We had two (head injury assessments) and one returned…

ORLANDO PIRATES (0) 1 Peprah 60 SIMBA SC 0 1-1 on aggregate Pirates win 4-3 on penalties Goalkeeper Richard Ofori was the hero as he saved a penalty and scored the winning spot-kick to see Pirates progressed to the semi-finals of the Confederation Cup yesterday after they beat Simba in a penalty shoot-out. Before penalties, the Buccaneers had won the game 1-0 in regulation time to level the quarter-final tie 1-1. Having failed to progress past the quarter-finals of the competition last season, Pirates needed to change the script; not only to keep their own chances of winning silverware this season alive, but also for the greater national cause. After Mamelodi Sundowns’ 3-2 loss on aggregate to Petro de Luanda in the CAF Champions League quarter-finals on Saturday night, Pirates…