Índex per 2022-09-20 a Star

ZIMBABWEAN Finance Minister Mthuli Ncube says there is internal resistance to measures aimed at rooting out corruption around government contracts and exorbitant pricing practices for public sector tenders, which have seen some suppliers’ price laptops at more than US $9 000 (R158 242) each and 2kg chicken packs at US$30. Yearly inflation in Zimbabwe has surged to 285% for the month of August, precipitating the central bank to hike interest rates to 200%. The spike in inflation has been blamed on a marked decline in the exchange rate for the Zimbabwe dollar to more than 800 Zimbabwe dollars for 1 US dollar in the past few weeks. Secretary for Treasury, George Guvamatanga, last month directed that government departments, parastatals and ministries stop all payments to contractors to factor…

DAIRY group Clover has sold its Johannesburg City Deep cold storage and distribution centre for R52.5 million as part of its strategy to centralise operations to main plants having faced service delivery issues in many of its outlying assets. The sale of the warehouse, reportedly to a private Durban investor, who will lease the premises out to a cold storage operator follows the sale in 2021 of Clover’s R50m Bellville, Western Cape facility, also concluded by private treaty by Cushman & Wakefield/Broll to a private buyer. Steven Velthuysen, Clover’s group manager: Legal & Secretarial, confirmed that the sale was part of centralising operations. “It is well documented that we are con- solidating our operations to bigger plants like Queensborough. We have had some struggles with municipalities in…

THE AGBIZ/IDC Agribusiness Confidence Index (ACI) for the third quarter of this year presents a picture of a sector that remained on a sound footing, but also confronted with a range of challenges, according to Agricultural Business Chamber chief economist Wandile Sihlobo. The ACI released yesterday deteriorated further by seven points to 53 points in the third quarter, following a two-point decline in the second quarter of this year. Still, a level of the ACI above the neutral 50-point mark implied that agribusinesses remained cautiously optimistic about operating conditions in South Africa. Higher input costs, friction in some export markets, persistent animal disease challenges, rising interest rates, intensified geopolitical risks which disrupted supply chains, and ongoing weaknesses in municipal service delivery and network industries remained the key factors that…

When celebrities say they are inviting the masses to watch their wedding either on telly or via streaming platforms, you can bet it’s going to be nothing but an extravagant affair. Actress and TV host Phumeza Mdabe and her music producer husband Mnqobi are set to join a long list of South African celebrities who televised their wedding day. The Mdabes’ four-part series, PS: I Love You, Phumeza and Shota’s Wedding Special, will be screened on Saturday at 6pm on Mzansi Magic (DStv channel 161). After being together for nearly a decade, the couple will take viewers on their journey as they undergo the formalities of solidifying their union. In a story that spans provinces and has a young family at its centre, the series will follow the pair as…

PRESIDENT Cyril Ramaphosa has cut short his working visits to the US and the UK to deal with South Africa’s Stage 6 load shedding crisis. Ramaphosa met his American counterpart Joe Biden in Washington for bilateral talks last week, before flying to London to attend the state funeral of Queen Elizabeth II yesterday. After calls from the public and opposition parties to address the crisis at Eskom, Presidency spokesperson Vincent Magwenya said yesterday: “The president will no longer be travelling to New York from London. Instead, he will head home to deal with Stage 6 load shedding.” Political analysts and politicians are in agreement that his decision to cut short his international commitments is a good thing. Political economist Daniel Silke said he thought it was “critically important” that Ramaphosa…

WHILE Malesela Teffo has remained tight-lipped about being struck off the roll of advocates on Friday, the Legal Practice Council (LPC) said it never takes pleasure in a legal practitioner being struck off or suspended, as many have worked hard to qualify and be admitted. However, it was important to protect the public from individuals that do not act in line with the rules and regulations of the profession, the legal watchdog said. It is not clear what Teffo’s next move will be, but a former chairperson of the Pretoria Society of Advocates, Francois Botes SC, said the only avenue left to Teffo was to try to appeal the judgment by two judges of the North Gauteng High Court, Pretoria. Botes, however, warned it would be an uphill…

Sixteen years ago I was at OR Tambo International Airport, waiting for a gentleman named Ali Katircioglu. I had heard about him before, yet never had a chance to meet him. He was about to arrive in South Africa to build a marvellous structure to showcase Turkish culture here in South Africa and to promote intercultural exchange and dialogue. Although he meant to make this dream of his come true in the US, because of all kinds of official challenges and obstacles there, his spiritual leader and good friend Mr Fethullah Gulen advised him to build this amazing complex in Nelson Mandela’s land, which motivated Uncle Ali to come to South Africa without even thinking. The day Uncle Ali landed at the airport is the day I would never forget.…

THE South African government has been challenged to stop dragging its feet and up the pace on the legalisation of cannabis, to unlock the industry and change lives. The call was made by hundreds of people from across all demographics, who gathered at the Union Buildings on Saturday morning led by Cannabis Mass Action. This was as gatherings were also taking place in Cape Town outside Parliament and in municipalities across the country. The gathering attracted supporters from various professions and traditions, as well as individuals who shared the belief that cannabis was a herb that assists many with varying health conditions and could not be compared to legal substances like alcohol, which is mentioned in connection with many road accidents, violence and gender-based abuse. The crowd called on President…

Thousands lined the streets of Edinburgh and London to view the funeral procession of Queen Elizabeth II. And many thousands more waited for many hours in long, never-ending queues to pay their respects. Proudly displayed on top of the coffin was the imperial state crown. But not everyone idolised her and mourned her death. There were some in the crowds who protested that the royalty had passed its sell-by date. The police were quick to stamp out the protests. Not very democratic, you’d say. While the rest of Europe has relegated its royalty to the back seat, the British cling to their royalty. It’s a tourist attraction and a money-spinner. An estimated two million tourists crowded London for the funeral. The queen’s death has reignited the debate about the crown…

Despite a flyhalf crisis in a week where the Rugby Championship title is at stake, no SOS has been sent to Elton Jantjies in a clear message that the Springbok management is tightening up on discipline. The Boks have been rocked by the loss of red-hot Damian Willemse to concussion – and a few weeks back, Handre Pollard seriously injured his knee – and flyhalf is the one position where the South Africans do not have quality depth. Coach Jacques Nienaber had planned to bring Johan Goosen into the fold this year, but that plan never got out of the blocks because he was badly injured early in the Bulls’ United Rugby Championship (URC) campaign last season. The lack of depth at No 10 is why Jantjies was crucial to…

The power utility plunged SA into stage 6 load shedding indefinitely a second time this year SOUTH African business called for greater transparency with Eskom as the energy crisis worsened after the struggling utility ramped up severe power cuts on Sunday. Eskom plunged the country into stage 6 load shedding indefinitely for the second time this year on Sunday morning, after a generation unit tripped at the Kusile and Kriel power stations. Stage 6 rotational load shedding means that 6 000MW needs to be shed from the already deteriorating national grid, leading to at least six hours of power cuts in two-hour or four-hour cycles in a 24-hour period. The South African Chamber of Commerce and Industry (Sacci) said yesterday that it was seeking answers from President…

LUXE HOLDING, which had trading in its shares suspended last month, said yesterday it was in advanced negotiations to sell a group of assets via its subsidiary Luxe Jewellery and Watch Division, to its chief execitive. The group said in a JSE regulatory notice yesterday the assets include Arthur Kaplan and World’s Finest Watches, and the talks about a possible cash disposal were with Go Dutch Proprietary. If the proposed transaction goes ahead, Luxe will be left with one last major operating subsidiary NWJ Jewellery. The possible sale represents a related party transaction as Go Dutch is a company of which Althea Gewar, Luxe’s chief executive, is the sole director and shareholder. Luxe said in a statement the proposed deal would provide it with a cash injection to support the…

GOODYEAR, the tyre manufacturer, yesterday denied taking part in price collusion that allegedly happened between 1999-2007 at hearings held before the Competition Tribunal. This follows the Competition Commission allegations that from around 1999 to 2007, the respondents discussed and agreed to fix the prices of passenger, light truck, bus, off-the-road, agricultural, and earthmover tyres. This was allegedly done through the the South African Tyre Manufacturers Conference (Satmc), an association for tyre manufacturers in South Africa. The respondents were Satmc members. The matter emanates from a price-fixing complaint lodged by Parsons Transport with the Commission. “Following an investigation, the Commission concluded that the tyre manufacturers’ conduct contravened the price fixing act,” the tribunal said. Under the commission’s investigation, Bridgestone applied for and was granted conditional immunity from prosecution in terms of…

Malcolm Marx was the best player on the field in Buenos Aries at the weekend, and the good news for South Africans – and the bad news for the Pumas – is that he is very clear about the Springboks’ objectives in Durban on Saturday. Marx scored a try to clinch the bonus point in his team’s 36-20 defeat of the Pumas to ensure the Boks have a shot of winning the Rugby Championship this weekend. “We have one more game left in the Championship, and we are going to come out with all guns blazing – we want to lift the trophy, and that’s all that matters,” said a forthright Marx, who also scored a try in the first half. The former Lions No 2 was speaking after his…

Bafana Bafana defender Siyanda Xulu says he’s happy he’s found himself a new home at Turan-Tovuz, following a dramatic exit from Hapoel Tel Aviv. After an impressive time with Maritzburg United – having had a spell at Kaizer Chiefs – Xulu returned to Europe, joining Israeli-top-flight outfit Tel Aviv. He again impressed at Tel Aviv, to the extent that he was a fan favourite, with the club’s supporters chanting his name on match-day. But things took a dramatic turn when he was detained at an Israeli airport due to ‘Covid-19 restrictions’ on his way back to the club for pre-season. That incident resulted in the termination of his contract, and he was jobless for sometime before resurfacing in Azerbaijan, joining top-flight outfit Tovuz. Xulu has played three games for his…

The interesting new face in the Sharks’ United Rugby Championship touring squad is veteran flyhalf Fred Zeilinga, who has been brought in as cover after misfortune struck the Sharks in the position during pre-season training. Both Curwin Bosch and Lionel Cronje suffered arm fractures, and that leaves Boeta Chamberlain as the only fit No 10, so there was an obvious need for cover. At this stage of the season, finding a half-decent flyhalf who is not contracted elsewhere is nigh on impossible, but the Sharks have got lucky with Zeilinga, an old boy who has now gone full circle by returning to his roots in Durban. Zeilinga was schooled down the road from Kings Park at Glenwood High, and he played for the Sharks between 2013 and 2015, before joining…

Arsenal manager Mikel Arteta said his decision to bring on 15-year-old Ethan Nwaneri against Brentford on Sunday was based on a “pure gut feeling”, and that it shows the club are committed to developing and rewarding talent. Nwaneri became the youngest player in Premier League history on Sunday when he came on as a substitute for Fabio Vieira in the second minute of stoppage time of Arsenal’s 3-0 win. “It was a pure gut feeling,” Arteta told reporters. “In your career, all the steps are not going to be forward. After that maybe he needs three backwards to go another forward, but I think he deserved it. It sends a really strong message about who we are as a club as well. “All the decisions that we take and that…

Tristan Stubbs is hoping to “put on a spectacle for everyone” after being the most expensive buy for a whopping R9.2-million at the inaugural SA20 auction yesterday. Stubbs (22) was bought by his hometown team, the Sunrisers Eastern Cape, after winning a bidding war with MI Cape Town. The youngster’s base price was R175 000, and it quickly skyrocketed as the two coastal teams went head to head. Both MI Cape Town (Robin Peterson and Simon Katich) and Sunrisers EC (Baakier Abrahams) have coaches that have previously worked with Stubbs. “It is crazy! I am still shaking,” Stubbs said about the price paid for his services. “It is just awesome to be a part of this tournament. I would have loved to play for anyone, so just being a part…

THE JSE WENT into a tailspin yesterday as the rand plunged to yet another more than two-year low over severe power cuts in South Africa while equity markets fell for the fifth consecutive day due to unfavourable global and local factors. The rand yesterday reached R17.77 against the US dollar after plummeting to R17.80 on Friday as investors worry about South Africa’s economic recovery prospects after Eskom ramped up its rotational power cuts to stage 6 on Sunday and forecast even worse stages of loadshedding this week. This was the lowest the rand has been since August of 2020 as the US dollar continued to gain against all other major currencies. By 5pm the rand was at R17.70 to the dollar, 10c weaker than at the same time the…

ONE OF THE stresses of being a journalist at a daily publication is that every day, you must present a diary, where you indicate what stories you intend to work on. Yesterday, however, I did not have that stress because I had a story to cover, which was an exclusive event hosted by Nedbank, themed In conversation with Mark Rose – Executive Head: Strategy and New Business Development at Nedbank Commercial Banking. Originally, my content editor, Philippa Larkin, had been invited, but had declined and asked on Friday that I attend to represent Business Report (BR) in her stead. Both she and I were told that this was no problem and I was welcome. I was granted accreditation, and I was told: “We look forward to seeing you later”. So…

RAPPER Yung Tyran, born Thamsanqa Silanda, started the month with the release of his fourth solo studio album Look What It’s Come To. In a recent conversation with IOL Entertainment, he unpacked his latest album and offered a glimpse into his career. The independent artist is steadily making a name for himself in the hip-hop streets, building himself a solid fan base. He has 30 376 monthly listeners on Spotify, which, as an independent artist, he calls a “blessing”. He said he wanted to put out his best work and deliver an album that was of top quality and to ensure he told his story sonically and creatively. Look What It’s Come To consists of seven tracks of blustery raps complimented by excellent production, most of it done by Tyran,…

The Sekunjalo Group has made a prima facie case that the banks have embarked on a systematic practice involving a concerted refusal to provide banking services to the business entity, the Competition Tribunal has found. This was highlighted in the tribunal’s interim relief granted to Sekunjalo on Friday, effectively preventing three banks, Standard Bank, Mercantile and Bidvest, from closing their bank accounts. The other five banks, Nedbank Ltd, Absa, Sasfin Bank, Absa, First Rand and Access Bank, were ordered to reinstate bank accounts that have already been closed. The relief, according to the tribunal, would remain in force for a period of six months from the date of its issuing or pending the conclusion of an investigation by the Competition Commission into a complaint regarding restrictive practices filed by Sekunjalo.…

Ingredients 1.5kg leg of lamb cut into thick cubes on bone 500g large onions thinly sliced 10ml garlic cloves crushed 10ml salt 10ml crushed black pepper 8 bay leaves Allspice (to taste) 20ml brown sugar 30ml black tamarind soaked in 50 ml hot water – 120ml water 5ml jeera (cumin) 10ml brown vinegar 250ml warm water Method Combine all marinade ingredients and coat all the meat pieces well. Allow to marinade for 4 hours (for best results overnight). Combine onions and meat in large pot and allow to slow cook for about 45 minutes or until meat is tender. Add water if necessary Serve with mash potatoes, steamed veggies, sweet saffron rice. Consistency must be thick and not watery. This dish requires slow cooking.…

Red Bull team boss Christian Horner said it would be a “massive ask” for them to win all six remaining races on the calendar, despite the team having won five in a row and closing in on the drivers and constructors’ championships. Red Bull have won 11 of the 16 races so far, and Max Verstappen could wrap up the title in Singapore early next month. When asked if Red Bull could run the table over the final weeks of the season, Horner told Autosport, “that’s a massive ask, and (there is) some huge variance of circuits. “Singapore compared to Monza, it’s got the most corners on the calendar. It’s bumpy, it’s a street track, so it’s a much different challenge,” the Briton added in the interview published yesterday. “We’re…

This is going to be one of the most thrilling Rugby Championship finishes in a long time, and the Springboks will know exactly what they need to do to lift the trophy. The All Blacks will take on the Wallabies in Auckland at 9.05am (SA time) on Saturday following the New Zealanders’ controversial 39-37 win in Melbourne last Thursday. The Boks, on the other hand, will face Argentina in the final Rugby Championship Test of the season in Durban at 5.05pm. The 36-20 victory by Jacques Nienaber’s men in Buenos Aires drew them level on 14 log points with the All Blacks, and for the world champions, the ideal situation would be for the Wallabies to cause an upset and beat the Kiwis at Eden Park. That would mean the…

Cape Town City coach Eric Tinkler had high praise for the defensive shift his team put in during their Champions League second leg preliminary round clash against AS Otoho in Brazzaville on Sunday. City held the Congo Premier League champions to a goalless draw at the Stade Alphonse Massemba-Debat to clinch the tie 2-0 on aggregate to advance to the next round. The Citizens had taken the advantage in the home leg the previous week at Athlone Stadium. With goalkeeper Darren Keet in outstanding form – marshalling the City defensive back four that included local Congolese hero Nathan Fasika – the visitors managed to keep a clean sheet. “I thought in the first 15 minutes, they put us under pressure. It took us a while to come into the game,…

AmaZulu FC looked strong in the early stages of the season, with some suggesting that the Durban-based club could be strong contenders for a top-three finish in the Premiership, and potentially even trophy honours this season. However, with the league table now starting to take shape, Usuthu could be facing reality once again. Their most recent 1-0 loss to Mamelodi Sundowns on Sunday means that they have now lost three out of their last four league games, and are also without a league win in four. In the early stages of the season, Brandon Truter’s team relied on an approach which involved frustrating the opposition by allowing them to dominate possession. They would then punish opponents on the counter-attack. They will now need to re-strategise to ensure that they are…