Índex per 2023-03-09 a Star

THE MARKETS yesterday cold-shouldered the phase 2 guidance note of helium producer Renergen as it signalled it was considering a potential international public offering (IPO) as well as taking on billions of rand in debt to finance construction. By the close of the JSE yesterday the shares in Renergen, which owns one of the richest and largest helium reserves, the Virginia Gas Project (VGP), had tumbled 4.07% to R19.18 after it had put out a phase 2 guidance note. The guidance comes hot on the heels of an announcement on Tuesday that the Public Investment Corporation (PIC) had purchased a 5.118% stake in the firm. Renergen said yesterday that it had successfully produced both liquefied natural gas and liquid helium from the phase 1 pilot plant in the VGP. The…

AMID concerns over increased delistings from Africa’s biggest stock exchange, JSE – which reported rich cash pickings for the year to the end of December – is on a solid financial footing, with earnings picking up in an environment that is worrying investors over political risks and currency devaluation. As many as 25 companies delisted from the JSE in 2021 while a further 22 firms left Africa’s largest bourse in 2022. This has raised concerns among the South African investor community, with others making a stronger case for offshore investments. “Let’s settle the offshore/onshore debate once and for all. R1 000 invested each into S&P500 and JSE Alsi (All Share Index) on January 1, 1980, I would today have R143 000 in the JSE and R740 000 in…

Film director Mandla Ndimande, better known as Mandla N, has penned a social media post to celebrate and reflect on the journey of the drama series DiepCity. Mzansi Magic announced the show’s cancellation in August last year after a 240-episode run. It was produced by Ndimande’s production company, Black Brain, which is behind productions such as The Black Door and Lenyalo Ha se Papadi. In his post, Ndimande said it was not easy to wrap up a show “as powerful as DiepCity”. “I’ll forever be humbled and grateful for the passion, hard work and love every single cast and crew member put into this story. “We literally built every piece of this world from the ground up, and it has been a pleasure seeing how much talent South Africa still…

A 50-year-old mother of two, who is a breast cancer patient, is pleading with authorities at Helen Joseph Hospital to perform an operation following her chemotherapy last year. Theresa Schultz said she was due to start her surgical procedure in November, but whenever she was scheduled to be booked in, she was informed of a shortage of bed linen. She said she had been turned away three times after having secured dates for her surgery, with the latest booking being in January. “I only have two chances to live. I have two last chemotherapy sessions at Charlotte Maxeke Academic Hospital, which has gone out of its way to help me get my life back. However, I am being failed by Helen Joseph Hospital, which is telling me about the shortage…

Even without a Cabinet post, former minister Lindiwe Sisulu has promised to remain grounded in the fight against corruption and maladministration, and for radical economic transformation. So said Sisulu’s adviser, Mphumzi Mdekazi, who spoke of Sisulu’s feelings following her axing on Monday after a delayed Cabinet reshuffle by President Cyril Ramaphosa. In the reshuffle, Patricia de Lille was moved from the Public Works and Infrastructure portfolio to Tourism, replacing Sisulu, who held the position since 2021. The reshuffle was a long time coming for Sisulu, who had been earmarked for the axe long before the reshuffle was on the cards. Over the past few months, Sisulu had, on numerous occasions, broken ranks with Ramaphosa, and there had been calls for him to get rid of her following her controversial opinion…

The Durban High Court has heard how allegations of tender irregularities came to the attention of the City Integrity and Investigations Unit (CIIU) of eThekwini Municipality, in the case of former mayor Zandile Gumede and others. The head of the CIIU in the city, Mbuso Ngcobo, who is a witness, told the court yesterday that an anonymous individual came into their offices and left a stack of documents and how the complainant indicated that the documents would be used for investigation as they showed irregularities with the tender. Ngcobo said whoever that individual was, had also left a letter with allegations, but did not name any individuals. Ngcobo told the court that when the information was found left on the reception desk anonymously, they perused it. “We check if the…

Lindo Mnisi, 31, from Dundonald, a village in Mpumalanga, is the visionary founder and CEO of ANDURA Hardware, a hardware chain established during the height of the Covid-19 pandemic in October 2020. Andura Hardware is a township-based, focused retailer of hardware items like DIY tools and building essentials. The company has three stores in Kaalfontein, Ebony Park and Diepsloot. The hardware company also sells products through the e-commerce website www.andura.co.za, which has seen massive growth in the number of customers ordering from all nine provinces of the country over the past few years. “Our mission is to bring hardware stores closer to the people in townships and remote areas. Townships are currently under construction. A number of people are looking at the look and feel of our townships, and as…

Thullo Mgcina, a 24-year-old actor, choreographer and director from Polokong, Sebokeng, is an award- winning poet – and he is best known for performing poetry at funerals, aiming to give healing to mourners who can’t express their emotions. The poet said he used poetry to help mourners grieve, because poetry is healing, and without healing we are dying. “The poems I recite set you free, and the uniqueness of my poems stands on the rawness of the message. I recite more on social issues, the life that we live, and the pain within it. “It is never easy to stand in front of the coffin, but before performing, I meditate and pray in order to connect with my ancestors and God to actually help me get into the shoes of…

While South Africans are grappling with load shedding, the recent declaration by the president of a national state of disaster has evoked mixed feelings. Furthermore, the announcement of the new minister of electricity during the Cabinet reshuffle was a glaring display that government’s orchestra is in sync towards creating a load-shedding-free anthem. First, the president acknowledged that without reliable supply of electricity, businesses cannot grow, assembly lines cannot run, and crops cannot be irrigated. He further mentioned that the impact of the crisis on farmers must be lessened because this affects food security. Second, during the Budget speech, the minister of finance rehashed the president’s remarks by alluding to the fact that record levels of load shedding experienced in 2022 saw the country being load shed for 207 days. This…

Hatchbacks, once highly sought after in many corners of the globe including South Africa, seem to be dying a slow death as buyers swarm to SUVs and crossovers. This year alone, the world has had to say goodbye to the Ford Fiesta, while the Kia Rio is also set to be axed in most markets including South Africa. It’s also rumoured that the Volkswagen Polo is set to be culled in Europe, although the current model is at least poised to remain with us beyond 2025, probably as a Vivo. However, the Hyundai brand has no plans of giving up on the hatchback market, as revealed in a recent interview with Autocar. Michael Cole, who heads Hyundai Europe, told the British publication that the company was strategising about what comes…

More than four months of consecutive load shedding have taken their toll on almost every area of our lives, and even driving has become a more perilous task as major intersections are left without robots for many hours. At many intersections untrained pointsmen such as street vendors and car guards have stepped in to help, but the AA warns that this could bring certain dangers and legal ramifications. “While the intention is noble, and in many cases traffic does flow, it only takes one serious crash to realise the folly of this endeavour. And, because the ‘pointsmen’ are not legally authorised to perform this duty, there is no legal recourse should something go wrong,” the association said. It said motorists had no choice but to comply with the directions given…

ORLANDO Pirates are not getting carried away by the expectations of challenging for the remaining honours, including finishing runners-up in the Premiership and winning the Nedbank Cup. Pirates started the season on a high, as they became the team to beat after winning the MTN8. But that form flattened in the league as they failed to regularly record wins, resulting in falling way behind runaway log leaders Mamelodi Sundowns in the title race. Pirates have since improved on their performances, resulting in them being one of two teams that could win a domestic double – alongside Sundowns – as they are still in the running for the Nedbank Cup. They’ll face Venda Football Academy in the last 16 on Saturday. However, that is not their only goal as they could…

Second Test, Day 1 South Africa 311/7 (Markram 96, De Zorzi 85; Motie 3/75) PRIOR to this series against the West Indies, the Proteas had not passed 300 in 16 Test innings. They have now achieved it twice in successive first innings, yet there still remains an itchy feeling that they have let the opposition off the hook. These are the standards this new Proteas Test side want to judge themselves on after closing Day 1 of this second Test at the Wanderers on 311/7. “On both occasions we got over 300, we’ve started well, and that’s thanks to Dean (Elgar) and Aiden (Markram), who have negotiated the new ball. That makes a big difference to the rest of the batting line-up,” said Tony de Zorzi, who struck his maiden…

ROYAL Bafokeng Platinum (RBPlat) CEO Steve Phiri said, as he released the firm’s financial results or the year ended December 31, 2022, that the risk of doing business in South Africa had increased significantly. “In 2022, the unreliability of electricity supply impacted our production and consequently increased our unit costs, which were also affected by an increase in our overall mining inflation of 10.3%. “Our costs will be further impacted by the recently approved 18.65% increase in the electricity tariff,” he said. Production of 4E – platinum, palladium, rhodium and gold – decreased by 3.9% to 449 000 ounces. And as metal prices weakened and operational challenges prevailed, BPlat reported a 46.3% drop in annual headline earnings in 2022 to R3.48 billion, down from R6.48bn the prior year.…

THE GENDER pay gap in the South African technology sector continues to widen as it increased to 13.2%, up from 6.4% last year among entry-level developers and widened from 16.3% to 25.7% at senior level, according to the 2023 State of the South Africa Software Developer Nation report released this week. This data report on developer career trends in South Africa, and the fourth annual report of its kind was released by OfferZen. It is based on a survey of motre than 4 500 developers. OfferZen’s CEO and co-founder, Phil Joubert, encouraged HR and People team leads to consider the nuance behind the data. “It’s easy to reduce the data to a headline, but there are multiple factors at play here. This includes the fact that male developers…

THE BOARD of insurer Momentum Metropolitan Holdings – which lifted earnings in the interim period to December 31 – has approved a further R500 million share buy-back scheme, which is due to commence shortly. The new share buy-back is in addition to another scheme that saw the company mop up R750m, or 3%, worth of its own shares during the half year period to December, the company said yesterday. “In consideration of the strong capital and liquidity position, the board has approved a further R500m for the repurchase of the group’s ordinary shares. These repurchases will commence following the release of the interim financial results,” Momentum Metropolitan said yesterday. While the 2022 share repurchases were undertaken at a consideration price of R16.74 a share, the company’s stock closed 1.18%…

University of Witwatersrand student leaders have agreed on a 24-hour suspension of the protest that has seen some of them suspended for failing to appear for a disciplinary hearing on Monday. One of those suspended was Student Representative Council (SRC) president Aphiwe Mnyamana, whose suspension drew the ire of the South African Students Congress (Sasco) as well as the University of Zimbabwe SRC. During a media briefing yesterday, the Wits University SRC said it was willing to pause a protest over fees and accommodation for 24 hours, on condition that the institution removed private security guards and police officers from the campus and lifted the suspension of six students, including its president. SRC deputy president Kamogelo Mabe told journalists that the council would only meet the university’s management to negotiate…

The committee inquiring into suspended Public Protector Busisiwe Mkhwebane’s fitness to hold office has adjourned for a week after refusing a request to postpone her testimony, which is set for March 15. Mkhwebane’s legal team had made a written request for a further extension of the date when she is required to provide her statement following committee chairperson Qubudile Dyantyi’s previous agreement to extend the original deadline for this from March 7 to March 9 and 14. On Tuesday, Mkhwebane’s legal team, led by senior counsel Dali Mpofu, had asked for the date for the deadline to provide the statement to be pushed to March 20. Mkhwebane also asked that the date of her testimony be moved to March 27 instead of March 15. Dyantyi said the committee had already…

The KwaZulu-Natal High Court has ruled against a late husband’s family after they sought to declare his marriage invalid even though his uncle was part of the delegation that paid lobola on his behalf. The late husband was estranged from his family and, when he got married in customary tradition, only his uncle and aunt were present during his lobola negotiations. Before the deceased paid lobola, he introduced the girlfriend to his four children who were living with him. The next day, she was taken to the deceased’s home by her family and she was handed over to the deceased in the presence of the deceased’s emissaries, his uncle, his aunt and colleagues. They then started living together as husband and wife until he died in February 2021, but they…

Aston Martin is just getting started on a big adventure and for double world champion Fernando Alonso, back on the Formula One podium at 41 years old and in his 20th season, it seems too good to be true. The evergreen Spaniard was even talking about future wins after finishing third in Sunday’s Bahrain season- opener behind the Red Bull pairing of Max Verstappen, also a double champion, and Sergio Perez. Aston Martin, seventh in the championship last year, were suddenly second in the standings and beating both Ferrari and Mercedes. “When you are P3 in race one, there are 22 (more) opportunities this season,” Alonso said of a possible 33rd career victory. “You know, anything can happen in 22 races with different conditions. And I will try my best…

China’s JAC Group, which markets the T6, T8 and X200 bakkies in South Africa, has unveiled the world’s first electric car powered by a sodium-ion battery. But what’s the big deal here? According to the carmaker, this technology could be a game-changer for the electric vehicle (EV) industry as sodium-ion batteries are cheaper than the commonly used lithium-ion units, and potentially more sustainable as they rely on a more abundant resource. While the scarcity and cost of lithium have been a challenge to the industry, sodium-ion batteries use cheaper raw materials and have been touted as a potential alternative that could help reduce EV production costs by 10%. There are disadvantages, however, the biggest hurdle being that they have a lower energy density than lithium-ion batteries, meaning the equivalent size…

VAUGHEN Isaacs remains an enigmatic figure for most Lions supporters, but as he looks towards the Currie Cup, the flyhalf believes he can make a statement when the competition starts this weekend. The former Baby Bok has a healthy chance of being heavily involved in head coach Mzwakhe Nkosi’s plans for this year’s competition as the Lions juggle fixtures in the United Rugby Championship (URC), the EPCR Challenge Cup and Currie Cup. With Jordan Hendrikse recovering from injury and Gianni Lombard’s commitments to the URC taking precedence, the responsibility of controlling play at pivot in the elite domestic competition could fall squarely onto Isaacs’ shoulders. Former Bulls player Isaacs played a limited number of Currie Cup games in a disastrous campaign last season for the Lions, his final outing the…

THERE are now six months to go to the World Cup in France and for many players, the sense of expectation and readiness for the showcase event will certainly tickle the back of their minds. Springbok wing Cheslin Kolbe, on a short hiatus in South Africa away from his Top 14 commitments for Toulon this week, is arguably not immune to such thoughts either. The 29-year-old had a difficult time of it last year with injuries – a broken jaw and hamstring tweak arguably the most serious – interrupting his form and confidence, so it should come as no surprise that he is overjoyed to be back on the field and in contention for a World Cup berth later this year if he stays healthy. “I am just happy to…

THE PUBLIC Investment Corporation (PIC) this week began legal proceedings against AYO Technology Solutions to set aside its subscription agreement and recover the R4.3 billion it invested for a 29% stake in AYO when the company listed in 2017. The investment occurred through the PIC’s participating in the initial public offering by AYO through a private placement in December. AYO’s senior counsel, Nazeer Cassim, began his cross-examination of witness, Victor Seanie, a former PIC analyst and assistant portfolio manager, yesterday afternoon, showing documentation to Seanie, and saying that it could not be disputed that British Telecom South Africa (BTSA) and major client, Sasol, were supportive of AYO’s black empowerment credentials, given AYO was more than 51% black owned and 31% owned by black women, and that in fact…

AROUND the world, progress on women’s rights is vanishing before our eyes. The latest forecasts estimate that on our current track, it will take another 300 years to reach full gender equality. Today’s cascading crises, from the war in Ukraine to the climate emergency, affect women and girls first and worst. And as part of the global push back against democracy, women’s rights over their bodies and autonomy over their lives are being questioned and denied. Two statistics make our failure very clear: ■ Every ten minutes, one woman or girl is murdered by a family member or intimate partner. ■ And one woman dies every two minutes during pregnancy or childbirth. Most of those deaths are entirely preventable. On International Women’s Day, we must commit to doing better.…

The SABC and Mpumalanga province have announced a new date for the 2023 Metro FM Music Awards. The new date for the awards show has been set for Saturday, May 6. The parties announced through a press release this change was necessitated by circumstances beyond their control. “The SABC apologises to the public that they will have to wait an extra week to witness the return of this highly anticipated event,” said SABC group executive for radio, Nada Wotshela. “We are aware that there is a lot of interest in the awards and we promise the public that they won’t be disappointed with the world-class broadcasting production.” Head of Department for Culture, Sport and Recreation Godfrey Ntombela added: “We are excited as a province to once again partner with Metro…

SOUTH Africa’s favourite dysfunctional family, The Kandasamys, are returning for a fourth instalment, which is currently in production. Netflix confirmed the news in a press statement on Monday. This time, the journey is a bumpy one, literally and figuratively. If you haven’t watched this film franchise, which debuted on the big screen as Keeping up with the Kandasamys in 2017, let me fill you in. It centres on two Indian families, who happen to live next to each other. Jennifer (played by Imbewu’s Jailoshini Naidoo) and Shanti (Maeshni Naicker) used to be best friends. But after a falling out over a guy, their relationship soured. This put huge pressure on their kids, Jennifer’s daughter Jodi (Mishqah Parthiephal) and Shanti’s son Prishen (Madhushan Singh), who fall in love and decide…

Cross-examination of the Public Investment Corporation’s (PIC) first witness, Victor Seanie, got under way yesterday afternoon, in the case being heard in the Western Cape High Court, where the PIC is looking to dissolve and recoup its R4.3 billion subscription agreement in Ayo Technology Solutions (AYO). Senior Counsel for AYO, Nazeer Cassim, began by questioning the witness about the issue of the PIC’s guilty finding in disciplinary proceedings brought against Seanie, which included allegations of dishonesty, a lack of integrity and breaching of his employment contract. When Seanie said he did not accept the disciplinary’s findings, Cassim asked him whether he had taken them to the CCMA on review. Seanie said he had, but then had not pursued it. “So, then you abandoned it?” asked Cassim. To which Seanie replied,…

Grammy Award-winning 90s R&B boy band Boyz II Men are headed for SA shores. The news of the band’s return was confirmed by event organisers, G21 Entertainment and Vertex Events, who on Tuesday announced South African show dates for the legendary supergroup set for later this year. This highly anticipated tour comes after they were forced to cancel planned performances in the country in 2020 and 2021 due to the Covid-19 pandemic. The tour will kick off at Grandwest Arena in Cape Town on October 31. This will be followed by another show-stopping performance in Pretoria at the SunBet Arena, Times Square, on November 2, and at North West’s Superbowl in Sun City on November 4. G21 Entertainment’s Glen Netshipise said his team was excited to be bringing the celebrated…

I was getting ready to pen a self-righteous-sounding piece about how those who criticise the Toyota GR86 for being too slow don’t understand what it’s really about. I was about to launch into a long tangent about how its performance deficit is far outweighed by its perfectly balanced rear-wheel drive chassis, which delivers sublime roadholding and the ability to oversteer. Did I mention it can drift like a boss? The gist was going to be that you don’t need to go fast to have a really good time behind the wheel, when you’re driving a car that was designed from the ground up for pure steering pleasure. Sinking behind the wheel and driving it for a few kilometres, rowing my way through its slick-shifting, close-ratio six-speed manual gearbox, only cemented…

Kia is getting ready to pull the covers off the production version of its EV9 and, from what we can see in newly released teaser images, it remains faithful to the identically named concept of 2021. The Kia EV9 will become the brand’s new flagship SUV when it makes its global debut at the end of March, and we’ll have to wait until then to hear all the specifics. We do know that the vehicle will be built around the Hyundai Group’s E-GMP modular platform for battery vehicles, and this will be the second Kia vehicle to utilise this architecture, after the SA-bound EV6 sports crossover. It’s not yet known whether the EV9 will be offered locally. Kia is promising a “bold” and somewhat “sculptural” exterior design, complete with striking…

The long-awaited and anticipated cabinet reshuffle by President Cyril Ramaphosa which took place on Monday left many South Africans disappointed, disillusioned, and many even pessimistic. Crime has taken hold of people’s lives, leaving the citizens vulnerable and feeling helpless. Many had hoped that the president was going to do more about the law enforcement sector, to give the citizens hope that the government is doing all in its power to fight the scourge. Food prices are sky high, while the cost of living is becoming unaffordable for the millions. Instead of fixing the Eskom blackout crisis which threatens to bring the country’s economy to its knees, the president appointed Dr Kgosientsho Ramokgopa as Minister of Electricity with a mandate to “turn things around”. This appointment has come as a…

Athletics South Africa president James Moloi remains hopeful that the SA National Marathon Championships taking place in Durban this weekend will be a thrilling affair despite a fairly poor representation. By yesterday there were only 68 athletes registered by 11 of the 17 provinces. The six that had not yet registered any athletes were Limpopo, North West, Border, North Western Cape, Transkei and South Western Districts. “I think we have good support from the provinces because they are aware that we are going to use the event as qualifiers for the Budapest World Championships as well as the Olympics, so they are aware of the importance of sending their athletes to the event,” Moloi said, adding that they have urged the provinces to provide their athletes with the opportunity to…

IS it better to have a mid-season break before the Rugby World Cup, or a breather just before the tournament starts? That is the conundrum facing the Springboks and the other countries who form part of the United Rugby Championship (URC), compared to the French and English national sides ahead of the 2023 edition in France in September. The defending champions from Japan 2019 didn’t have much choice but to give their top SA-based players an extended break between February and March, which will see the 14 currently in the Springbok camp return to action on the weekend of March 24/25 in the URC. On that Friday night, the Stormers will be in Dublin to take on mighty Leinster, while on the Saturday, the Lions face Benetton in Treviso, the…