Índex per 2022-09-14 a Star

ARC INVESTMENTS (ARC), majority owned by the Ubuntu-Botho Investments Group, lifted net asset value 14.7 percent to R10.06 per share in the year to June 30 after good financial performances by many of its businesses. The net asset value growth was due to good performances by some of the businesses it has invested in, such as Rain, TymeBank in South Africa, Tyme Global in Singapore, Alexforbes, Fledge Capital and Capital Legacy, ARC said in a statement. Looking ahead, co-chief executive Johan van Zyl said they were likely to consider fewer major acquisitions, following a “good run” since listing five years ago. “We’ll enter a phase of reviewing our portfolio and consider some pruning over the short to medium term. We have received some unsolicited offers for our shareholdings in…

Hopes that country’s economy will rebound next year have been dashed SOUTH Africa’s ongoing energy crisis has dimmed hopes that the economy will rebound significantly next year as growth has already started shrinking. Eskom yesterday ramped up its rotational load shedding to Stage 4 until tomorrow morning after promising it would ease it to Stage 2 for the test of the week. Last month, Eskom warned that South Africa could face up to 27 days of load shedding in September, lasting all the way into September 2023, if unplanned breakdowns soar to 16 000MW. It currently has 5 446MW on planned maintenance, while another 16 985MW of capacity is unavailable due to breakdowns. The South African Reserve Bank last month forecast that the economy will expand by…

MINING activity in South Africa will probably be depressed for the remainder of the year, and drag economic growth even lower as the lingering impact of intensified power cuts and industrial action saw output falling more than expected in July. Data from Statistics South Africa (StatsSA) yesterday showed that mining output plunged by 8.4 percent in July year-on-year following a downwardly revised 7.1 percent decline in June. This was the sixth consecutive month of decline in mining production since February, with January being the only exception that saw a slight 0.1 percent increase in output. The July mining print, which was slightly ahead of consensus expectations of a 5 percent year-on-year decline, was also the second-largest single decline this year after April’s 15 percent fall.…

DEPUTY State Security Minister Zizi Kodwa said he “expected the outcome” by the Joint Standing Committee on Intelligence (JSCI) which has cleared him of wrongdoing related to the Phala Phala scandal. Kodwa was accused of being aware of the crime, which was not reported to police, and of participating in “secret” cross-border investigations allegedly costing millions of rand to finance. On August 5, National Assembly Speaker Nosiviwe Mapisa-Nqakula requested the JSCI to investigate these allegations. Ramaphosa has been accused of trying to conceal the break-in at his farm in Limpopo two years ago, where millions of dollars were stolen. The five suspects, mostly Namibian nationals, were allegedly traced using a bogus drug case and located in Milnerton, before they were kidnapped, tortured and apparently bribed for their silence, according to…

THE African Transformation Movement (ATM) has decided to join Public Protector advocate Busisiwe Mkhwebane in her application to have the Western Cape High Court’s ruling to set aside her suspension put into immediate effect. ATM national spokesperson Sibusiso Mncwabe said the party took the decision after learning that President Cyril Ramaphosa and Deputy Public Protector Advocate Kholeka Gcaleka had joined the DA’s court bid to keep her suspension in effect. “There is a collective effort on the part of the DA, Ramaphosa and the deputy public protector to do anything to shield Ramaphosa from accountability over the Phala Phala scandal. The ATM is therefore instructing its lawyers to file court papers to fight this unholy alliance. “The evident incompetence of the deputy public protector is further borne out by the…

AFTER almost two weeks of disruptions, Putco buses will run smoothly with all drivers expected to report for duty today. This comes after the Public Utility Transport Corporation and workers signed a wage agreement that ended days of protests outside Putco depots in Soweto and other parts of Gauteng. The strike affected at least 200 000 commuters. Workers accepted the offer of a 6% wage hike from the management. The bonuses of workers were expected to be reinstated as well after a two-year battle at the Commission for Conciliation, Mediation and Arbitration. The National Union of Metal Workers of SA (Numsa) said it was pleased the workers could come to an agreement with management of Putco. Numsa general secretary Irvin Jim said the unity of workers was pivotal in achieving…

The death knell of the ANC, as we know it, is already in the works. Consider the following: Mbeki wants to re-infuse Malema into the ANC ... question is, where does Malema stand with regards to Zuma, and the Zulu faction, now being led by Nkosazana Dlamini Zuma. The ANC Woman’s League is pro Zulu and pro RET ... who will they side with? Why was the Russian diplomat Igor Sechin in the country, while Ramaphosa was supposedly out of the country? Why was American Secretary of State, Blinken, in the country at the same time? Something is being hatched ... something big is brewing. To crown it all, Ramaphosa has been summoned by Biden’s administration to the White House. Coincidences ... I do not think so ... South Africa…

Managers of health facilities should know it is their responsibility to help the finance minister and Treasury know their hospital or clinics’ annual financial requirements. We have academic, tertiary and regional hospitals with various levels of responsibility, demands and workloads. These will not be known to the Treasury unless it receives the necessary input. Every item and equipment determines whether a patient will receive the best treatment. A few years ago, I was admitted to a public hospital, with a fractured femur. The ward was short of drip stands. The blood transfusion I was receiving was running slowly, as it was hanging from a curtain rail. I was put on skin traction on admission but there was no pulley-traction system, so the weights were attached to the traction kit which…

ACCLAIMED jazz musician Nduduzo Makhathini makes a return with a profound and thought-provoking album titled In the spirit of Ntu, which explores and summarises his journey and creative output. As he presents his studio release with Blue Note Records and Universal Music Africa, Makhathini says he is eager to share this album with his supporters in South Africa and further to relay his experiences while touring internationally. The Senze’ Nina hitmaker says In the Spirit of Ntu is living in the paradigm of listening to the things that emerge from the ground. Ntu is an ancient philosophy where the idea of Ubuntu stems from the notion of Ntu. In conversation with The Star, the artist spoke about his latest offering and what it meant to him. “My practice over many…

It has come to this time of the year when the third quarter performance report of the various departments in government are produced. Like the other departments, Employment and Labour reports back to the portfolio committee in Parliament on its performance. It should be known that these departments all set the targets themselves, and they judge themselves. This does sound rather peculiar, and I have pointed out that it’s a little bit like living in Alice Through the Looking Glass. If only we could all set our own exams, mark ourselves and pass ourselves, we would be living in a topsy-turvy land. In spite of setting their own targets the department has still failed in certain instances. What is quite clear is we don’t have enough inspectors and…

Despite not achieving her dream to be an actress overseas, Zanele Khomo has done exceptionally well for herself – and this is all thanks to her father, who denied her an opportunity to go there. From being a mother to a teenage girl, a wife and a sister, Khomo has soared, becoming chief growth officer and an executive director board member at the Durban Chamber of Commerce and Industry NPC. She landed in her career by accident – and is thriving at it. “My first career choices were to be an actress, studying and living overseas, or be a journalist. My father, a committed pastor of our church, declined the overseas actress career choice, and when I went to the Durban University of Technology to apply for journalism, the course…

THIS Heritage Month, South African jazz pianist and scholar Nduduzo Makhathini is preparing to perform a series of “celebratory and thanksgiving” concerts, as part of cultural work to reveal hidden stories and histories of the African continent. Makhathini will be performing at the Fismer Hall, Konservatorium at Stellenbosch University (SU), for A Thanksgiving Ritual: Umgidi, on Friday, with the concert in partial fulfilment of his integrated PhD in music. Nduduzo Makhathini – In the Spirit of Ntu references Makhathini’s new album, of the same name, released this year and will be presented at two venues, the Blue Room on September 17, Cape Town CBD, and Olympia Café, Kalk Bay, on September 18. “The Spirit of Ntu is based on the concept, an ancient philosophy in Africa called Ntu, that gave…

Once it became clear – which it did, early on in this conflict – that Ukraine’s defenders would not wilt before the onslaught of Vladimir Putin’s war machine, analysts predicted a long and drawn-out war of attrition, particularly in the east of the country where Russia already controlled a fair bit of territory. And so it has proved. More than six months in, Russia controls only a fraction of the country and, close observers excepted, if you were to look at the war maps we have been publishing in these updates over the weeks, it was hard to discern terribly much movement in the lines of occupation. But now reports coming out of Ukraine are of rapid advances by the Ukrainian army in the Kharkiv region in the north-east, where…

ORGANISED business has come out swinging against the proposed carbon tax increments which will see gradual increases in the carbon tax rate for the 2023 to 2025 tax periods. The increases are by a minimum of $1/tCO2e, increasing gradually to $20 in 2026 and at least to $30/tCO2e (per ton of carbon emissions equivalent) in 2030. The Energy Council of South Africa, Minerals Council South Africa, Business Leadership South Africa, Business Unity South Africa, South African Petroleum Industry Association and Energy Intensive Users Group jointly proposed that the annual carbon tax increases continue to be based on the Consumer Price Index (+2 percent) structure until at least 2030, to allow for the review and alignment of policies. “Business and the South African economy cannot accommodate the steepness of the…

ATTACQ, the JSE-listed real estate investment trust (Reit) developing Waterfall City, did well in its year to June 30 by lifting distributable income per share from 34.2 percent to 62.8 cents and resuming dividend payments with the 50c per share, representing an 80 percent payout ratio. The group’s performance was in the context of South Africa’s record unemployment levels and low-growth economic environment and reflected the underlying quality of the portfolio, which has been characterised by continued growth in the burgeoning mixed-use Waterfall City precinct – the precinct has continued to attract local and global blue chip clients. “We emerged from Covid-19 with an improved company culture and capital structure. Our focus is now on new opportunities, mainly through the implementation of our environmental plan and delivery…

BUILDING and construction group Wilson Bayly Holmes-Ovcon’s (WBHO) headline earnings per share decreased by 19 percent during the year to the end of June after revenues slid 11 percent due to a slump in civil construction and roadworks. Revenue for the year was 11 percent lower at R17 billion, while the headline earnings per share score sagged to almost R13 per share. The WBHO share price closed 0.45 percent down at R76.65 on the JSE yesterday. “Activity within both the building and civil engineering and roads and earthworks divisions slowed during the current reporting period,” the company said. Its international market also reported a “subdued procurement environment” especially in the UK, where the number of available bidding projects “reduced substantially”. The Manchester construction market was…

Audio recording captures nurse’s R5 000 ‘under-the-table’ overture after ‘bungled’ jab EVIDENCE Msibi, of Siyanqoba township in Witbank has accused an assistant and junior nurse of Klarinet community clinic of attempting to bribe her with R5 000 after an alleged case of medical negligence. On July 22, Msibi, 47, went to the clinic for a routine check-up. After the check-up, she enquired on the availability of a prevention injection or pill and was subsequently given the injection. However, the next day at work, Msibi said she began feeling dizzy and requested to go home. She was given the rest of the week off from work. For days she could not sit or walk due to the swelling of her backside, and requested more time off. A few days later,…

BLOOD sample collection and delivery at some of Gauteng’s leading clinics, hospitals and laboratories has been affected by the appointment of a new contractor, Zamlangeni Holdings, which has insisted on bringing its own delivery staff and specimen handlers at the expense of more than 30 experienced handlers from Hartman Emergency Care (HEC). “There has been no consistent collection of blood samples and other specimens since the new company took over. We are really battling with collection and delivery of specimens,” said a laboratory worker who wanted to remain anonymous. The National Health Laboratory Services (NHLS) has refused to comment on the plight of 30 former employees of HEC who have been laid off due to new contractor Zamlangeni Holdings’ alleged refusal to absorb them as part of their staff. Zamlangeni…

A MAN who was sentenced to life imprisonment for raping an 11-year-old child and even impregnating her claimed that he had consensual sex with her as she was his “child bride”. The man, who cannot be named to protect the child’s identity, appealed against his conviction and life imprisonment before the Western Cape High Court. The court, however, confirmed both conviction and sentence. The excuse of the man, which was rejected by the court, was that he thought “his bride” was 15 at the time when her father “gave her to him”. The father, however, denied that she was given to his neighbour as a bride. He claimed that he simply asked the accused, who lived next door, whether his daughter could move in with him as he did not…

THE recent death of the British queen has led to an outpouring in the media, of feelings of bitterness against Britain’s colonisation of some countries in Africa more than a century or so ago. As a South African of Irish descent and taking into account past British subjugation of and atrocities against people in Ireland over many hundreds of years. I understand the feelings. Still, the Irish people do not hold sway over their whole country. However, what I cannot understand is the outcry against the British only. What about the record of particularly the Belgian King Leopold II whose actions in the Congo region far outweigh any atrocities the British might have committed, or other nations such as the Germans, the Portuguese, the French, the Italians, and others? Looking…

THE Duchess of Sussex thinks the reaction to her relationship with Prince Harry was “archetyped”. The 41-year-old duchess was told that she was “lucky” to be dating Harry back in 2016 – but the 37-year-old prince pushed back against the “gendered” and “stereotyped” narrative. In her Archetypes podcast, the duchess told her pal Mindy Kaling: “When I started dating my husband, when we became engaged, everyone was like, ‘Oh my God, you’re just so lucky he chose you.’ And at a certain point, after you hear it a million times over, you’re like, ‘Well, I chose him too’. “But thankfully, I have a partner who was countering that narrative for me and going, ‘They’ve got it all wrong. I’m the lucky one because you chose me.’ But it is gendered…

SOUTH Africa’s biggest commercial youth radio station YFM has launched a 6-episode medium format content concept called On Road, tapping into the culture of art, film, music and fashion. Popular host Owen Miller is set to deliver On Road, a visual content experience of Jozi street culture. The episodes in the On Road series can be viewed on the Y App as well as eVOD (local on-demand platform). The show covers everything from the growth of sustainable fashion, the difference between story-telling and self-expression through commercials and other forms of visual content, street art in the city and its translation to galleries as well as the people behind the music industry. Miller says growing up in Ekurhuleni, with a lot of diversity but not much exposure, made him want to…

EXTREME weather and climate change are undermining human health and safety, food and water security, and socio-economic development on the African continent. Rising water demand combined with limited and unpredictable supplies additionally threatens to aggravate conflict and displacement, according to a new report from the World Meteorological Organization (WMO). The State of the Climate in Africa 2021 report provides authoritative scientific information on temperature trends and other climate indicators. The report noted that water stress was estimated to affect about 250 million people in Africa, and was expected to displace up to 700 million people by 2030. Four out of five African countries were unlikely to have sustainably manage water resources by 2030. “The worsening crisis and looming famine in the drought-stricken Horn of Africa shows how climate change can…

WHO would want to be in Elton Jantjies’ boots right now? The Springbok flyhalf has been kicked out of the touring squad and – along with the team’s dietician – was booked on the first flight home from Buenos Aires after their alleged affair was exposed in a Sunday newspaper. The reports told of wild nights at luxury guest houses where the two kept fellow patrons up with their bedroom antics, and ran up more than R20 000 in unpaid bills. Lewd behaviour for an elite SA sportsman, role model and married father of three. Jantjies, who only recently escaped the sin bin after misbehaving on an international flight, now faces even more public shame and scrutiny, which could very well bring a premature end to his rugby career.…

Cape Town has long been South Africa’s destination of choice for major sporting events. Everyone knows the Western Cape public are sports-crazy. There’s an old saying that locals have always turned towards the back pages before looking at the front-page headlines. For years, the Stormers were the best supported Super Rugby franchise despite not winning a title. And the switch to the United Rugby Championship has only reinvigorated this support, which was helped by the Stormers’ run to their maiden championship title last season. Cricket at picturesque Newlands is synonymous with good crowds, the New Year’s Test being a special occasion, while the Paarl Rocks have also quickly developed their own loyal fan base. Although football clubs Cape Town City and Stellenbosch FC would love more people coming to the…

THE BENCH Marks Foundation said yesterday it had been calling on the government to put exclusion zones around tailings of about 500 to 1 500 metres and not to allow any development near them as this is dangerous. This follows the collapse of a mine tailings dam in Jagersfontein on Sunday, in the Kopanong Local Muni- cipality in the Free State, which led to the death of one person, and the displacement of many others. The cause of the collapse has yet to be determined. The dam collapsed at about 6am on Sunday. The flow of water had stopped by Sunday afternoon. In an interview, Bench Marks Foundation spokesperson David van Wyk said the mining companies should also have known that it was wrong to have its tailings in…

LIBSTAR, a food producer whose brands include Denny mushrooms and Lancewood cheeses, said yesterday it had delivered a resilient interim performance despite supply chain disruptions, particularly in import and export shipment delays. Its results for the six months to June 30 showed that its largest category, Perishables, delivered revenue growth of 14.6 percent and an increase in normalised earnings before interest, taxes, depreciation and amortisation (Ebitda) of 27.8 percent, supported by strong volume sales of pre-packed hard cheese by Lancewood and efficiencies in the value-added meat processing division, Finlar. The second-largest category, groceries, grew revenue by 2.2 percent and normalised Ebitda fell 17.7 percent due to supply chain disruptions and increased logistics costs in the Cape Herb & Spice export division. Libstar group revenue increased…

A MAMMOTH R7.7 billion expansion and environmental upgrade project at the Sappi Saiccor mill was officially opened by President Cyril Ramaphosa in Umkomaas, KwaZulu-Natal yesterday. The project was first officially announced at the Presidential Investment Conference in 2018. The project would strengthen the country’s role as a global supplier of Lyocell, the fibre of the future for sustainable textiles. Sappi Global board chairperson Sir Nigel Rudd said: “The board believes that the South African forestry industry is globally competitive and can make further substantial contributions to the South African economy. This investment reflects our confidence in our South African operations.” Chief executive Steve Binnie said there was growing global demand for renewable textiles derived from sustainable wood fibre. Sappi supplies more than 50 percent of the…

I’m replying to Douglas Gibson’s response to my letter about the DA entitled “Have your facts straight when you attack me”. First, I am not ashamed of being white. I am not a woke radical leftist. I am frustrated that due to the DA giving up on being an alternative government to the ANC, and giving up on being multi-racial in leadership, has led to a vacuum in our need for an alternative government to replace the ANC. The DA could have had the field if they had kept Maimane and carried on with the programme to extend its base but chose to retreat to the laager to be the party of white identity. South Africa is crying out for a diverse multi-racial opposition that resonates with the majority. As…

The rainbow nation has gone to the dogs. Venal judicial officers are absorbed by the culture of impunity, to the point of colluding with private interests to exchange privileged information. That’s why ethical controversies have escalated to disgraceful proportions, exposing the young to moral decadence which created its inevitable havoc in society. Sadly, a handful of youth have fallen by the wayside at a tender age, to mirror the moral crisis. Some ruined their lives by following trends of the most immoral of human activities. Others are enslaved by the deceptive desire of playing Russian roulette with alcoholic drinks and drugs. For there’s no more a village to nudge them, but bystanders who don’t care a fig for their peril. It’s even taxing to reason with parents, because they point…

GAUTENG motorists have taken to social media to express positive experiences and efficiency at the new driving licence testing centres. The innovative and advanced licensing centres were launched in Gauteng by the Road Traffic Management Corporation (RTMC) and the Department of Public Transport and Roads Infrastructure. Trying to sort out the backlog to renew licences that was caused by the lockdown, the department launched solar-powered smart centres at the Midrand and Centurion Gautrain stations. Popular entrepreneur Mark Sham had his comments section flooded with positive reviews after sharing his story about his impressive experience, praising the staff and chief executive of the RTMC, advocate Makhosini Msibi. Posting a picture of Msibi at the Waterfall Centre, Sham wrote: “I have to share a really positive experience I had while renewing my…

Ingredients 1.2kg sliced lamb knuckles 125ml seasoned flour Sunflower oil for frying 1 chopped onion 1 chopped red pepper 15ml chopped garlic 15ml chopped fresh rosemary (or 5ml dried) 2 x 400g cans Rhodes Quality Chopped and Peeled Tomatoes 250ml prepared chicken stock 2 bay leaves Salt, pepper, sugar and a pinch of chilli powder or chilli flakes 1 x 410 g can Rhodes Cross Cut Green Beans, drained Method Sprinkle the meat with the flour and brown in batches in the oil. Set aside. In the same saucepan, fry the onion and red pepper until soft. Stir in the garlic and rosemary and fry until aromatic, about a minute. Add the Rhodes Quality Chopped and Peeled Tomatoes, stock, bay leaves and seasoning to taste then bring to a boil.…

When formal apartheid ended in South Africa in 1994, several policies were introduced to address the racial and economic segregation of the past. One such policy was Black Economic Empowerment (BEE), designed mainly to facilitate an increase in black ownership across sectors. The media was one of the sectors BEE legislation aimed to transform. Media ownership has notably transformed from no black-owned media companies prior to 1994 to now substantial black ownership of South Africa’s commercial media. Four of the biggest operators are black controlled and smaller operators have substantial black shareholding. But has an increase in black media ownership led to diverse, transformed content? In a context like South Africa’s racist past, has black media ownership in the democratic era led to a less racist framing of news content?…