Índex per 2022-11-02 a Star

RESERVE Bank (SARB) Governor Lesetja Kganyago warned again yesterday that the central bank stood against taking on a mandate of employment creation through monetary policy. The SARB has drawn the ire of some political commentators and analysts who maintain that the bank needs to expand its mandate considering the reality of high unemployment, other than just focusing on inflation targeting to stabilise the economy. Kganyago, delivering a public lecture titled “Keeping it simple: monetary policy, growth and jobs in South Africa” at the Wits School of Governance, said South Africa’s policymakers must find more practical solutions to deal with the country’s stubbornly high unemployment. He said monetary policy alone was not the saving grace for the country’s socio-economic dilemma. The country instead needed to be careful not to add to…

Mines close to the end of the reserves, not economical to mine, says group IT WILL BE a bleak festive period ahead for Sibanye-Stillwater workers after the diversified metals group said yesterday it planned to retrench about 2 000 workers as it restructured its South Africa gold operations. Load shedding, cost pressures and the age of its mines were some of the reasons behind its announcement, Sibanye said. Sibanye envisaged that the proposed restructuring (of both Beatrix 4 shaft and Kloof 1 plant) might potentially result in the retrenchment of up to 1 959 employees and affect 465 contractors. “The proposed restructuring could potentially affect employees at Beatrix 4 shaft, those employees who provide support services to the shaft, and Kloof 1 and 2 plants. “In addition, employees may…

OCTODEC Investments raised its divi- dend by 160% in the year to August 31 after vacancies in its city residential and industrial sectors fell substantially, with the residential portfolio in particular performing ahead of expectations. The improving performance of the group following dark days during the pandemic also sent the share price soaring 9.28% to close at R9.89 on the JSE yesterday. In addition, “although there has been a continued downward resetting of rentals across most sectors, from our perspective, several renewals are being concluded at increased rentals, and demand for space in both Johannesburg and Tshwane CBDs remains strong,” chief executive Jeffery Wapnick said in an online interview yesterday. Distributable taxed income increased 30% to R466.1 million. A final dividend of 80 cents per share was declared,…

Suspended Public Protector Busisiwe Mkhwebane has accused “hostile” committee members, the media and Parliament’s legal adviser of being wrong about her legal representatives withdrawing from the inquiry into her fitness to hold office. Addressing the committee, Mkhwebane, pictured, said the narrative of what happened last Thursday was a deliberate misinterpretation of the facts and had resulted in confusion and misunderstanding. She said this state of affairs forced her to ask the committee for a week to ascertain what had actually happened. On Friday, the committee rejected her request for a week and instead granted her three days to resolve her legal representation issues. The request followed her entire legal team, led by senior counsel Dali Mpofu, leaving the meeting on Thursday after committee chairperson Qubudile Dyantyi (ANC) made a ruling…

KwaZulu-Natal transport MEC Sipho Hlomuka says the department will continue to engage truck owners and drivers over road safety concerns after three people died in a horrific crash yesterday. At least six cars and four trucks were involved in the crash on the N3 highway before the Mariannhill toll plaza. Traffic was disrupted for several hours with motorists urged to use alternative routes. By yesterday afternoon, only one eastbound lane was open to traffic as recovery operations continued. The crash came after two people died on Monday afternoon after the truck they were travelling in rolled down an embankment on Stockville Road, near Pinetown. ​In another truck accident, also on Monday on the N3 at the Cliffdale Bridge in Peacevale, a truck driver was killed when the cab of…

A retired policewoman, who hired a hit man to kill her boyfriend’s wife, has been sentenced to life imprisonment. Nomvula Zondwa, 57, traditional healer Thamsanqa Hlamandana, 32, and three hit men – Lwando Lengesi, 32, Ayabulela Mahokoto, 27, and Nkosinathi Junior George, 24 – were sentenced in the Eastern Cape High Court on two counts of murder, this week. The National Prosecuting Authority (NPA) said Zondwa had been in a long-term relationship with Mandla Toba. However, Toba had married Cingiswa Mila while he was in a relationship with Zondwa. “She (Zondwa) conspired with the sangoma to organise hit men to kill the newly wedded wife, and they all discussed the murder over a period and agreed to participate in it,” said NPA spokesperson Luxolo Tyali. On the day of the…

The Springbok team for Saturday’s Test against Ireland comprises the tried and tested in all but one position – and what an exciting selection it is as the international stage sees Cheslin Kolbe at fullback for the first time. I don’t know why it has taken so long for Rassie Erasmus and Jacques Nienaber to unleash Kolbe’s magic in a position where he will get the ball 10 times more than he would at his customary wing. Kolbe is one of the best attacking players in the world, and with time and space on his hands at the back of the field, he could be the weapon the Boks have been waiting for – but have been sitting on – to take their back play to the next level. Strangely,…

Max Verstappen is enjoying the most dominant of seasons, but Red Bull team boss Christian Horner reckons the double world champion still deserves more recognition. The 25-year-old took a record 14th win of the season in Mexico City on Sunday, and has now scored more points in a single campaign (416) than anyone ever, breaking Lewis Hamilton’s 2019 record of 413. Even if seasons now have more races, with changed scoring systems, fastest laps and sprints adding to the points available, Verstappen and Red Bull have undeniably raised the bar this year. The team have won the last nine races and 16 of 20, their greatest haul yet in one championship, and secured both titles for the first time since 2013. There are still two more races remaining to push…

NASPERS and Europe-based subsidiary Prosus shares surged more than 7% yesterday after the share price of their China investment Tencent Holdings shot up more than 10% in Hong Kong on unconfirmed reports that the country was forming a committee to “reopen” the economy after the Covid pandemic. Naspers and Prosus’s about 29% stake in internet and entertainment giant Tencent makes up the majority of the value of their market capitalisations, while Naspers and Prosus’s large weighting in JSE indices resulted in them helping to lift the JSE All Share Index by 2% and the JSE Top 40 Index by 2.2% by midday yesterday. Naspers and Prosus yesterday denied rumours they were selling their stake in Tencent. Naspers shares closed 8.22% higher at R2 056.35 on the JSE yesterday, while…

EMBATTLES sugar producer Tongaat Hulett (THL) and business rescue practitioners (BRP) missed the October 31 deadline to pay about R400 million for sugar cane deliveries made in September, after the company failed to secure the funding. A further R345m payment is due for the end of November. The missed payment could sound the death knell for the more than 4 000 farmers and 14 000 full-time and seasonal workers in the industry. On Tuesday, South African Sugar Cane Growers Association chairperson Andrew Russell said that while the situation was dire, the sugar industry could recover. For that to happen, it was essential that THL secure the funding necessary to maintain its operations. “SA Canegrowers is committed to working with THL, the business rescue practitioners, banks, the government and…

DESPITE the manufacturing picture improving last month, purchasing managers’ outlook deteriorated to the lowest in two years as load shedding dented sentiment. “This is the most pessimistic purchasing managers have been about the outlook since May 2020,” said Absa as it yesterday released the Absa Purchasing Managers’ Index (PMI), which rose from 48.2 index points in September to 50 points in October. Lara Hodes, an economist at Investec, noted that the PMI had picked up slightly in October “just creeping back into expansionary territory with a reading of 50 points and this was ahead of consensus expectations of Bloom-berg. Absa said the Transnet strike and faltering global demand likely hurt exports, while persistent load-shedding capped the recovery in activity and demand, and that the index level was slightly…

A trade union and the Road Freight Association agree that the rising petrol and diesel prices could strain consumers closer to the festive season. This follows the announcement by the Department of Mineral Resources and Energy that 93 and 95 unleaded petrol and LRP will increase by 51 cents a litre, diesel by R1.42 and illuminating paraffin by 77c from early this morning. The Central Energy Fund (CEF) stated that the prices were pushed up by a weaker rand, which was impacted by rising international fuel prices. According to Automotive Association records, in 2020 the petrol price increased to R13.88 for 93, R14.59 for 95 and R12.29 for a litre of diesel. Diesel has doubled since December last year. The United Association of SA (Uasa), which is a…

ANC NEC member and Tourism Minister Lindiwe Sisulu yesterday slammed the poor state of the country’s State Security Agency (SSA), which has suffered multiple lapses in recent years. The SSA was moved into the President’s Office after last year’s July unrest. Sisulu said this move did not make sense. It was confusing to have this crucial department led by people without expertise in the field. She said the unrest was not handled well by the country’s intelligence. During her exile from 1977 to 1979, she joined the military wing of the ANC, uMkhonto weSizwe, specialising in intelligence. Sisulu said the first thing she would do as the country’s president, should she get into office, would be to improve the country’s intelligence, which had suffered immensely in…

1. Add salt to your milk once opened: Depending on the type of milk you use, once opened it can last anywhere from four to 10 days in the fridge. However you can stretch that by adding a pinch of salt to the carton immediately after opening, as salt is a preservative and so deters bacteria from growing. But make sure to give the carton a good shake and place it into the fridge as soon as possible. 2. Store your milk in the coolest part of the fridge: Avoid storing milk in the fridge door, the warmest part of the fridge as it is furthest away from the cooling system. Keep milk at the back of the middle or higher shelves. 3. Rewrap hard cheese: Ditch the plastic packaging…

As Christmas nears and families prepare their gifts for children, after months of sourcing, testing and predicting trends, Toys R Us has curated an assortment that showcases top toy trends. “Social consciousness, post-pandemic living, nostalgia and consumers looking for value have all impacted this year's toy trends,” said Toys R Us marketing manager Catherine Jacoby. “Consumers are driven more than ever by experiences and parents are looking for toys that give their children memories outside of the digital world.” Jacoby said this year parents could expect screen-free toys to top the list of trends, and toys that encourage hands-on play and skill building. “We’re so excited to kick off the most magical time of the year with the coolest and most sought-after toys of the season. From active and sensory…

Veteran actor Vusi Thanda has received a cheque from Kicks Sportswear after taking to social media to make a plea for donations and opening up about his financial woes. Thanda, overwhelmed by emotions of joy, accepted the cheque at the Kicks offices in Kempton Park. “I am officially saying goodbye to poverty. I don’t want to touch a cent of this money. Instead, I want to invest it because that was one mistake I made in the past. I have learnt my lesson and never want to misuse money again. Thank you to the Kicks team for standing by me through this very difficult time. May God bless all of you,” he said. The sportswear brand pledged to support the actor when it celebrated its two-year milestone a month ago.…

Orlando Pirates coach Jose Riveiro has shot down his side’s favourites tag in the MTN8 final, saying opponents AmaZulu want to win the crown just as much. Pirates and AmaZulu are two of the oldest clubs in local football, celebrating their 85th and 90th anniversaries, respectively, this year. But the two clubs have gone through different spells as far as silverware is considered, with Pirates being dominant compared to Usuthu. However, history will count for nothing when the two outfits face off in the MTN8 final at the Moses Mabhida Stadium in Durban on Saturday night. And that’s according to Riveiro, who denied suggestions that they are favourites – having also won the ‘Wafa Wafa’ cup at the same venue in 2020. “I can’t imagine one team going into the…

It’s been seven years since George Maluleka, in the colours of Kaizer Chiefs, produced a moment of brilliance by delivering a delightful cross onto the head of Tefu Mashamaite to nod past the late Senzo Meyiwa and hand Amakhosi their last MTN8 crown at Moses Mabhida Stadium. Fast forward to 2022 and Maluleka hopes to hand his new club AmaZulu FC their first MTN8 trophy at the same venue on Saturday – again at the expense of the Buccaneers. The 33-year-old delivered a performance for the ages in the semi-final as Usuthu dumped out his former club Chiefs, and he earned himself a Man of the Match award in the process. The Tembisa-born veteran revealed his side’s plans to expose any weaknesses shown by Pirates as the opportunity to make…

KUBEN Naidoo, the deputy governor of the SA Reserve Bank (SARB), said yesterday he believed South Africa would be greylisted next year with up to a 52% likelihood, despite the Treasury’s intense efforts to avoid this. South Africa has a noose around its neck waiting for the Financial Action Task Force (FATF) to decide whether to greylist the country, following the completion of a year-long observation period, with D-Day in February. This followed the FATF identifying serious weaknesses in South Africa’s anti-money laundering and combating the financing of terrorism framework, in which the country scored a very poor ratings assessment on technical compliance. If greylisting comes to pass, financial firms around the world, including banks, would be required to apply enhanced due diligence to any South African client, a process…

CAPITAL & Counties Properties (Capco), which is in merger plans with Shaftesbury Capital, said trading activity at London’s Covent Garden remained resilient in the four months to October 31, with strong leasing demand and positive footfall and sales metrics. “The volatile macro-economic environment is having an impact on asset valuations, but we are encouraged to continue to see rental growth in our portfolio,” chief executive Ian Hawksworth said in a statement yesterday. “Preparations continue on bringing together two exceptional West End property portfolios, to create a leading central London mixed-use real estate investment trust (Reit), Shaftesbury Capital plc,” he said. Although the economic outlook was uncertain, “we are well-positioned with a strong balance sheet and are confident in the long-term resilience and prospects for the West End,” he said. Since…

The Playhouse Company in Durban is ready to host another exciting arts festival that will see a number of community arts groups take centre stage. In its fourth year, the annual Community Arts Festival is set to take place over two weekends this month. There will be stage performances and dances as well as workshops on script writing, directing and arts administration. Linda Bukhosini, the Playhouse Company’s chief executive and artistic director, said the aim of the festival was to focus on skill sharing while shaping the skills of participating community arts groups. “As an agency of the Department of Sport, Arts and Culture, a vital part of The Playhouse Company’s programming focuses on skills sharing. This includes mentoring and offering a platform for community arts groups to work with…

The ANC in the City of Johannesburg has warned Joburg mayor, Mpho Phalatse, to desist from trying to withhold the mayoral seat through the courts. Phalatse, through her lawyers, had informed the speaker of the municipal council, Colleen Makhubele, of her intention to interdict tomorrow’s council meeting because of the motion of no confidence which had been placed on the agenda for that meeting. She also wanted the decisions taken at last week’s programming committee meeting reviewed. The Star can confirm that the motion has since been dropped and will not be presented at tomorrow’s council meeting. ANC regional secretary Sasa Manganye said while the ANC respected court processes and the legal framework of the legislature, it was becoming apparent that the DA was trying to rule the City of…

A YOUNG man who has been left in legal limbo after his parents never registered his birth appealed to the North Gauteng High Court, Pretoria, for help. The Department of Home Affairs had simply ignored his plight over the past nine years to be registered as a South African citizen. Tebogo Khoza said since he turned 16 in 2013, he had tried in vain to be registered as a South African. He said he was born here and he has never left the country since birth. While the department said it would assist him, nothing came of it. Lawyers for Human Rights organisation assisted him in his legal bid not to be rendered stateless. Khoza was orphaned at the age of 9 and lived at a youth centre in Limpopo.…

A Free State mother who was abused by her husband has been sentenced in the Harrismith High Court after murdering him and her two children, aged 10 and 14. Mamphepi Alina Mokoena, 31, pleaded guilty to three counts of murder and a count of attempted murder. Her husband Sofra Frans Pamplin, 49, and children Mamsy Portia Mokoena, 14, and Meikie Mokoena, 10, were poisoned on June 22. The family were from Farm Tokka in the Bethlehem district. The other surviving victim is 11-year-old Lerato Aletta Mokoena. In her plea agreement before Judge Pitso Molitsoane, read by Mokoena’s defence lawyer, she said her marriage was volatile and she was abused by her husband. The court heard that on June 17, Mokoena went to town and bought poison. She said she told…

The proposed no-confidence vote against Mpho Phalatse angers me. The only no-confidence vote that should take place is against the ANC’s so-called government which makes more noise about a white police officer in America “accidentally” killing a black man than it does about a black man in South Africa accused of the rape of a nine-year-old child and the rape and murder of a four-year-old. The same ANC that treats South Africa’s fiscus with reckless criminal abandon. The same ANC that would rather get into bed with communists and is neutral on the Russian invasion of Ukraine where Russia has killed thousands of innocent civilians. The same ANC that suspends people on full pay when those on suspension should have been locked away. Phalatse has been in office for just…

South Africa’s parts are all seemingly in sync as they move towards the business end of the T20 World Cup – bar one obvious glaring chink in the armour. Captain Temba Bavuma’s dire form has not had an impact on the overall team performance as yet, with the Proteas top of the log heading into their crunch clash against Pakistan at the SCG tomorrow (10am SA time start). But with the stakes rising, the question remains: For how long can the rest of the batting unit carry the under-performing skipper? The challenge doesn’t get any easier, with Bavuma set to face arguably the world’s most potent new-ball bowler in Shaheen Shah Afridi. The towering left-armer has, equally, not had the best of tournaments thus far after only recovering from a…

The World Cup gets underway in Qatar on November 20, with France hoping to become the first team to successfully defend the title since Brazil 60 years ago. Here, we look at six of the world’s best players who will be competing in the tournament. Lionel Messi (Argentina) Arguably the greatest player of all time, Messi has yet to emulate past legends Pele and Diego Maradona by winning football’s biggest prize. He did finally win a major international tournament with Argentina when he was the driving force behind their Copa America triumph last year. The 35-year-old has said this will “very likely” be his last World Cup and will be desperate to go one better than 2014, when Argentina lost the final to Germany in extra-time. Lionel Scaloni’s side have…

The North West Dragons ensured the final round-robin match of the Cricket South Africa T20 Challenge would decide the four semi-finalists, after hanging on to claim a 22-run victory over the Knights as dark clouds gathered over Potchefstroom yesterday. If the Lions managed to beat Paarl Rocks in the final round-robin game last night, they would qualify for the final four ahead of the Free State team. However, that match was in jeopardy because of the weather, which looked ominous, with lightning flashing around the university town as the final overs of the Dragons-Knights match played out. If no Lions-Rocks result was possible, the Knights would qualify for the semi-finals, which will be played today. The Dragons lifted themselves off the bottom of the standings with their second win in…