Índex per 2023-05-30 a Star

THE EMBATTLED retail company Steinhoff International Holdings announced yesterday that creditors had approved a proposed debt restructuring plan. While shareholders voted against the crucial restructuring plan, the retailer can now approach a Dutch court to give the scheme the go-ahead. “As a next step, Steinhoff will consider if it intends to request the Dutch court to confirm the Wet Homologatie Onderhands Akkoord (WHOA) Restructuring Plan,” the company said in a statement. “10.38% of the class of Steinhoff International Holdings NV (SIHNV) share- holders voted in favour of the WHOA Restructuring Plan. This is less than two- thirds of the nominal value of SIHNV shares of the relevant members of the class of SIHNV shareholders that voted in respect of the WHOA Restructuring Plan. “The class of SIHNV shareholders has therefore…

But increasingly detrimental is the insufficient and unreliable electricity supply SOUTH Africa, which is greylisted, faced the risk of financial instability if it courted Russia, which would lead to capital outflows and sanctions, the SA Reserve Bank (SARB) flagged yesterday. However, the SARB said in its Financial Stability Review, released yesterday that the most notable country-specific vulnerability was the increasingly detri- mental and widespread ramifications of an insufficient and unreliable electricity supply, while concerns over the deteriorating South African rail and port infrastructure networks also continued to grow. The Financial Action Task Force (FATF) greylisting had materialised, with a relatively muted immediate reaction as expectations had largely been priced into financial markets. The SARB said, however, the longer-term impact remained a vulnerability and would depend on the speed…

GOOGLE’S Bard is an AI tool of the same stripe as the now household name ChatGPT, with the major addition of being able to search the internet. It was released in response to Microsoft’s Bing Chat, which made the news as the first AI chat system integrated directly with a major web search platform. The deployment of Bard and Bing Chat signals a major shake up in web search. Signs point to a near future where users have their queries answered by an interactive AI research assistant, rather than being directed to other websites. These websites that the AI assistant is using as sources will be referenced and linked to, but it is obvious that most users will have little reason to actually go to those sites. Web search providers…

TELKOM’S shares once again rode the rollercoaster of speculation, yesterday rising 10% after Bloomberg News broke a story at the weekend saying the former CEO Sipho Maseko, was spearheading a bid to buy 35% of the partially State-owned telecommunications group. The shares closed the day 10.51% higher at R27.96 on the JSE yesterday. Bloomberg News reported that the Public Investment Corporation (PIC), Africa’s largest asset manager, was backing a possible bid by Maseko’s investment vehicle, Afrifund, and Mauritius-based Axian Telecom for the potential offer for a 35% stake. The government owns a 42% stake. The shares rose to an intraday high of R27.88 on the speculation. This after the troubled counter’s shares have sagged 43.75% in a year as the partially State-owned entity struggles to compete with its main rivals,…

CHAOS was the order of the day in the community of Soshanguve, Tshwane, yesterday as pupils from various schools and residents demanded the speedy arrest of the suspect behind the rape and murder of a 17-year-old matric pupil from Ntsako Secondary School. Scores of pupils from at least three schools from around Soshanguve, north of Pretoria, under the leadership of the Congress of South African Students (Cosas), converged at Ntsako Secondary School, where Palesa Malatji was a pupil, to demand intervention after her sexually assaulted body was found in a veld near another school. Palesa allegedly left school on Thursday afternoon after attending extra classes and walked home. However, she did not arrive there. Her uncle, Thabiso Malatji, said that just after 8pm, he became worried about his niece, as…

Magistrate Mohlolo Khabisi has released Nastassja Jansen on R10 000 bail following weeks of bail application hearings involving five former G4S employees who allegedly assisted Thabo Bester to escape from the Mangaung Correctional Centre in May 2022. The four other applicants were denied bail, with Khabisi saying they had, in their statements, failed to convince the court of their innocence. Leading up to her release, the investigating officer had acknowledged that one of the former G4S employees accused of assisting in Bester’s escape was not paid a cent. “We are happy the judgment was fair and right; it was our version from the start that no evidence linked my client to the matter. I would advise my client not to be in contact with any of the accused or…

The subject of girlfriend allowance has always raised temperatures, whether one believes in the gesture or not. When popular YouTuber Penuel The Black Pen spoke about his stance, there was no doubt his sentiments would raise controversy. While this widespread terminology is given many explanations, the most common is the sum of money a man pays his girlfriend to take care of her expenses. Many say it is like a salary, but a salary freely given. Penuel believes that when a man gives a woman money, she is nothing more than a contracted sex worker. Is girlfriend allowance synonymous with sex work? What is an appropriate amount of money that matches this rank by modern standards? These are just two questions raised on social media. Punuel said money could be…

THE CITY of Tshwane has received news from community members alleging that there are roaming water tankers selling water to residents in Hammanskraal. Residents are cautioned not to buy or drink water from these tankers because it is untested and has not been declared safe for drinking. The City provides drinkable water to its communities in formal and informal areas of Hammanskraal free of charge. The water provided by the City’s authorised tankers has been declared safe for drinking after a series of tests conducted confirmed that it does not contain cholera. Officials from the Tshwane Metro Police Department will conduct stop-and-search operations on any trucks transporting water without a valid permit. Residents are urged to write down the registration numbers of the tankers selling water and to report these…

MINISTER in the Presidency Khumbudzo Ntshavheni has said that the changing world is worsening the development trajectory of developing countries, particularly in Africa and South Africa. Ntshavheni said this in Russia at the 11th International Meeting of High-Ranking Officials Responsible for Security Matters. “The world we live in is changing at a very fast pace, bringing with it both challenges and opportunities for humanity as individuals, countries, regions, and the global society in general,” said Ntshavheni. She said that climate change, unprecedented levels of migration as a result of conflicts and wars, the pursuit of economic opportunities, and the adoption of information and communications technology were creating both new opportunities for development and threats against nation states. “These changes are worsening the development trajectory of developing countries, particularly in Africa…

Jurgen Klopp insists he does not need a break from management as he looks to put Liverpool back on track after their troubled season. Klopp’s team missed out on Champions League qualification after finishing outside the top four for the first time in a full season under his leadership. A 4-4 draw at Southampton on the last day of the season stretched Liverpool’s unbeaten top-flight run to 11 games, but they had to settle for a fifth-place finish in the Premier League. Klopp is the league’s longest-serving manager and there had been claims the intense German might be willing to walk away from Liverpool due to burn-out. But, asked if he needs time off from football, Klopp said: “No, no, no, not at all. Honestly, I’m completely fine. “If you’d…

Alpine took their first podium finish of the Formula One season in Monaco on Sunday and chief executive Laurent Rossi, who warned of the consequences of failure after poor opening results, said he was proud of the performance. Esteban Ocon’s third place in the most glamorous street race of the season, and what is effectively a home round for the Renault-owned team, relieved some of the pressure that was building up. “I am happy. I am happy for the team,” the Frenchman said as he walked to the pitlane for a celebratory group photograph. “I’m not going to say I want them to finish P3 every race, that would be unrealistic - I would love that, but we still have a lot of work to do to get there,” he…

Novak Djokovic started his bid for a men’s record 23rd grand slam singles title with a straight-sets victory over Aleksandar Kovacevic in the French Open first round yesterday. Two-time Roland Garros champion Djokovic held off a late rally from his American opponent on Court Philippe Chatrier to clinch a 6-3 6-2 7-6(1) victory. He has still not lost in his opening match of amajor since the 2006 Australian Open. “I'm very motivated to stay in this tournament for a long time, it’s just the start now,” said Djokovic after kicking off his 19th consecutive French Open campaign. “I’m happy. I’ve started well and hope I can improve further for the next match.” The 36-year-old will face Hungarian Marton Fucsovics, who he has beaten four times in as many meetings, in…

SATBVC, an association of pensioners from Transkei, Bophuthatswana, Venda, and Ciskei, known as TBVC States have given President Cyril Ramaphosa seven days to effect his instruction to Finance Minister Enoch Godongwana, to investigate the issues regarding the pensions of civil servants or face legal action. Every cent counts for pensioners, who like the rest of South Africans are facing an unprecedented cost of living crises. Spearheading the drive is UDM leader Bantu Holomisa. The bone of contention is that employees – who joined the government as civil servants in 1970, 1980, and early 1990s were told that their pension funds were calculated from 1996 – despite their pension fund contributions being deducted earlier than that date. Holomisa said their pension funds were contributed to asset management companies such as Sanlam,…

THE WEEK BEFORE last was a difficult week for South Africans and also businesses in the country. Last Thursday, SA Reserve Bank Governor Lesetja Kgan- yago announced that the Monetary Policy Committee decided to increase the repurchase rate by 50 basis points, to 8.25% per year from May 26. At the same time, so-called SA Inc shares listed on the JSE have experienced a major sell-off with 48 stocks from all sectors of the economy hitting new 52-week lows during the previous week. Interestingly, some of the stocks came from the JSE Top 40 and include many long-time market favourites. The selling off of market favourites is raising concern. Usually, when market favourites are sold off, it is a sign of capitulation. It seems as if the market has decided…

WHILE the South African rand reached record lows in recent weeks, global oil prices have heightened the chances of some much-needed fuel decreases for the month of June. Consumers battling the cost-of- living crisis in South Africa are desperate for relief on their monthly budgets, and early data indicates this reprieve could come in the form of slightly lower fuel prices. Fuel prices in South Africa are largely determined by oil prices globally and the strength of the local currency, the rand. The fuel outlook for June remains positive, with significant reductions in all fuels likely in June. Commenting on unaudited mid-month data from the Central Energy Fund, the Automobile Association (AA) said lower international product prices were the reason behind the predicted decreases. “The weaker rand/US dollar ex- change…

ZEDA GROUP, which operates Avis and Budget car hire, delivering its first set of results after being unbundled from Barloworld, said yesterday that for the six months that ended March 2023, its revenue grew due to tourism and corporate travel after Covid-19 restrictions were lifted. The car rental, fleet management and leasing business said revenue grew by 26% to R3.3 billion, boosted by strong demand from corporate, inbound and domestic travel. Its performance helped it to lift basic earnings per share by 27% to 197 cents, while operating profit increased by 25% to R803 million. Zeda said the business experienced an exponential increase in inbound travel and corporate business travel, with revenue in both segments surging by 138.7% and 69.5%, respectively, compared to the prior period. No…

Dumisani Dlamini is one of the country’s most recognisable actors having played iconic roles like Chester in the classic series Yizo Yizo and Crocodile in Sarafina! The actor has had a successful career spanning over 30 years and has earned a South African Film and Television Award nomination. “I was so interested in it from the word go,” he says about his role as Chief Siviko ka Vaka in Mkhonto, a new film on Showmax. Chief Siviko ka Vaka is the ruler of the fictional, mystical kingdom of Eziqwaqweni. “The story is so deep and spiritual.” “This movie takes us back to where we come from. It shows us our way of living in the past and who we are, in case we have forgotten. In this movie, people must…

THE South African Medical Association (Sama) has slammed the government for failing to keep its promise to exempt hospitals from rolling blackouts. Sama chairperson Dr Mvuyisi Mzukwa said load shedding continued to put lives at risk. Earlier this month, the Gauteng High Court, Pretoria, ordered the government to ensure uninterrupted electricity supply to all government hospitals, clinics, schools and police stations. This followed an application brought by the UDM and other political and civic organisations, which argued that the government and Eskom violated basic human rights by implementing load shedding that has knocked out critical areas of the economy, such as hospitals. President Cyril Ramaphosa warned in March that the grid would collapse if the government fully implemented the court’s decision that schools, hospitals and police stations be exempted from…

Public Enterprises Minister Pravin Gordhan has accused Build One South Africa (Bosa) leader Mmusi Maimane of attempting to “capitalise on the suffering of citizens for political mileage”. This after Maimane lodged a criminal complaint against Gordhan at the Cape Town police station yesterday, following the death of a 3-year-old, allegedly linked to load shedding, as her nebuliser stopped running due to power cuts. Police spokesperson Wesley Twigg confirmed that the matter was reported. The 3-year-old had asthma and used oxygen gas. “Because of load shedding, the hospital did not have enough electricity to keep the oxygen running, which resulted in the tragedy,” according to Bosa spokesperson Sbu Zondi. Maimane added: “I’m laying culpable homicide charges against this ANC government. Every life lost due to electricity outages is on their hands.…

With Saturday fast approaching before the Birchwood Jazz evening experience set for Ekurhuleni’s leading Birchwood Hotel and Conference Centre, comedian Noko Moswete has promised her fans an avalanche of new jokes. Moswete, who is a self-taught comedian, will be sharing the stage with icons such as Ringo Madlingozi, Brenda Mtambo, Beyond Vocal and Hector Motivator as a host for the evening. The event, which began more than 20 years ago, returns after a brief Covid-19-induced hiatus. “I will be bringing fresh and new comedy material that has never been seen before, which will be infused with music. What excites me the most about being part of this line-up is that I have been placed with giants. This gives me assurance that I belong up there with the stars,” Moswete said.…

THE Life Esidimeni tragedy will remain a blot on our health-care system forever. We can’t sweep it under the carpet because people want to know what happened. The saddest part is that it was avoidable, as several warnings were given against the move, but as they say, money is the root of all evil. The motive behind the tragedy was cost containment which led to the regrettable loss of 144 lives of the most vulnerable people, the mentally ill. One would have hoped that valuable lessons would have been learnt from it, after the outcry over it, that no amount of money would be spared where patient care is concerned. The trend continues unabated as we have seen time and again how all health-care facilities in this country have, over…

The Gauteng Health Department has build six field hospitals in Kanana, Hammanskraal, to test those who continue to show symptoms of diarrhoea and dehydration. The makeshift tents were set up at the weekend and have already been used to attend to scores of people showing cholera symptoms. Last week, a cholera outbreak caused deaths in Tshwane. Deaths were also reported in the Free State, with rumours that cases had been reported in Limpopo. More than 90% of the cholera cases in Tshwane were reported in Kanana, making the area the epicentre of the disease outbreak. Health facilities in and around the area were overwhelmed, with more than 200 people admitted to hospitals around Tshwane. To date 23 deaths have been reported in the capital city. According to Health and Wellness…

ANOTHER day, another delay in the murder trial of Mamelodi businessman Vusi “Khekhe” Mathibela and his three co-accused. Despite their witness not pitching at court, the lawyer representing two of the accused – as well as Shepherd Bushiri – opted to drop this trial to represent the fugitive preacher in Malawi this week. These circumstances did not sit well with Gauteng High Court, Pretoria, Judge Papi Mosopa, who issued a warrant of arrest for the social worker who had to go to court yesterday to testify in mitigation of sentence regarding the four accused. He ordered that the warrant be held over to when the court again convened on July 19 for the matter. The social worker has compiled pre-sentencing reports on all four accused with the aim of outlining…

The Johannesburg Metropolitan Police Department (JMPD) says it will investigate an incident where officers were caught on a video asking a motorist to drive recklessly on a public road. In a video posted on Twitter and TikTok, two unidentified JMPD officers, who had stopped an Audi RS3, are heard asking the motorist to drive at high speed. “I love this vehicle,” said one of the officers. “Thanks, my brother,” replied a man in the passenger’s seat. One of officers asked the man if the car was on sport. “Yes, it’s on sport, don’t worry,” responded the man. As the driver was preparing to depart, one of the officers got excited and said, “Nazo, nazo, nazo,” which loosely translates as “There it is, there it is.” The driver then takes off,…

Teboho Mokoena was crowned the best player among his peers at the PSL Awards on Sunday – thanks to the stellar season he had with Mamelodi Sundowns. Sundowns became Premiership champions for a record sixth season in a row, as all the players who contributed to their success received praise. Mokoena was part and parcel of that lot, making 24 appearances in the league, while he registered one goal and one assist. Mokoena was key, as he made some crucial passes and tackles in midfield – proving to be a fitting replacement for former club captain Andile Jali. But was he a more deserving winner for the footballer of the season instead of Monnapule Saleng and teammate Ronwen Williams? Well, that can be argued. Saleng proved the doubters wrong this…

IT’S NO SECRET that governments struggle with tech solutions that get adopted by the public. Often, the public finds it hard to use a technology solution developed by a government. This was not the case with GovChat, a government technology solution that was developed with a private entity that was led by Professor Eldrid Jordaan. Last week, I had an opportunity to listen to Jordaan speak about his experience of building a technology solution for a government. Three things stood out for me in a lecture delivered as part of Africa Month celebrations and hosted by African Innovation Solutions. The first key point that stood out for me was the fact that in building successful technology solutions, it’s not always necessary to build your own app or standalone tech. Sometimes…

WORKFORCE solutions provider Adcorp’s shares jumped nearly 22% after the market welcomed a windfall annual dividend as the company’s strategic repositioning bears fruit, despite the challenging economic conditions in South Africa. The shares jumped to an intraday high of R5.99 but closed 11.56% up at R5.50 on the JSE yesterday. In its annual financial results yesterday for the year ended February 28 this year, Adcorp declared a final ordinary dividend of 16.5 cents per share, taking the total ordinary dividend to 28.7c for the year. It also declared a special dividend of 91.3c per ordinary share, bringing the total ordinary plus special dividends declared to 120c per share. “This development came as a result of the execution of the group’s robust capital allocation framework. Although there were considerable contract…

The African People’s Convention (APC) has slammed AfriForum leader Ernst Roets, saying he lacked insight into the suffering of black people under apartheid. This comes after Roets’ tweet at the weekend, venting his frustration regarding freedom of speech in South Africa, the expropriation of land and the alleged victimisation of white locals. “It is now clear the ANC’s critique of race laws before 1994 was only a power move and not a genuine condemnation of race discrimination. The ANC called apartheid a crime against humanity due to race laws, expropriation of property, and double standards with regard to freedom of belief and freedom of speech. Now they’re violating all these things they once claimed to champion,” Roets said. The tweet rubbed the APC’s leader, Themba Godi, the wrong way. Godi…

Gopolang Moilwa, 25, has been sentenced to 25 years’ imprisonment by the Atamelang Regional Court for the rape and murder of his 45-year-old aunt, Keshwalegile Jane Molehe, on October 10 in 2021. Provincial police spokesperson Lieutenant-Colonel Amanda Funani said Moilwa was drinking with his aunt and her boyfriend at a local shebeen at Kgothu Section in Setlagole. “On their way home, an argument ensued between Moilwa and his aunt’s boyfriend. That was after Moilwa attempted to rape his aunt, and the boyfriend ran away after (Moilwa) threatened to stab him with a knife. “Molehe was raped and strangled, and her body was found in the bushes the following day after being spotted by passers-by, who alerted the police. “Following investigation, Moilwa was arrested and charged with rape and murder,…

Tshwane mayor Cilliers Brink has thankd Old Mutual and the Red Cross for donating 10 000 litres of bottled water and hygiene packs to Hammanskraal residents. “Our coalition government welcomes all forms of assistance during this difficult time, and as such I would also like to thank other civic organisations and companies that have assisted our residents, like the Gift of the Givers, Doctors Without Borders, Spar and Coca Cola,” he said. Brink said the City was looking at long-term solutions to address the Hammanskraal water crisis. “Last week, the City met with the Department of Water and Sanitation, and we agreed to form a partnership to address this matter urgently and handle the Rooiwal situation on a permanent basis. “We take the delivery of quality water to the residents…

THE Health and Allied Workers Indaba Trade Union ((HAITU) has reacted angrily to the interim interdict to stop the student nurses’ protests that the Gauteng High Court, Johannesburg, granted to the Gauteng Department of Health. “We say ‘voetsek’ to the Gauteng MEC (Nomantu Nkomo-Ralehoko) for abusing the courts to run away from her responsibilities towards R171 (curriculum) students,” said union’s provincial chairperson Bafana Tshabalala. “The anger of students is justifiable. The department abruptly informed student nurses that their contracts come to an end on May 31. These students will be the first cohort of the R171 curriculum, and there are no plans in place to support these students until they sit for board exams in November.” Tshabalala said the union had been in talks with Health Department officials and had…

Instead of viewing Africa Day as an opportunity to dress up in beautiful African prints for one day, it should be used as a platform to catapult Africans to join hands and fight for the unity of the continent’s growth and development. These were some of the sentiments expressed by industry and business leaders who came together for the first-ever Africa Day Thought Leaders Dialogue at Deloitte Africa’s headquarters in Midrand. Didier Bayeye, the managing director of Global Travel World Experts, said many of the struggles the continent was facing, particularly its development, was because Africans were not observing the protocols of ancient times. Bayeye said Africa Day and being an African was not about simply dressing in beautiful African-print T-shirts, nor was it about the way we speak, walk…

When Jose Riveiro was appointed Orlando Pirates coach in June 2022, the little-known Spaniard had been active in Finland without achieving success. Initially, Pirates fans were sceptical about Riveiro, and when results didn’t go their way early during his tenure, he was labelled a “plumber”. South African fans used the term to describe little-known foreign coaches who failed to achieve success in the PSL. In November, Riveiro guided Pirates to the MTN8 title and suddenly fans saw him in a different light. As the Premiership campaign wore on, Pirates improved in leaps and bounds to finish the season in second place. This gave the club the highly sought-after ticket to next season’s elite Caf Champions League. By this time the affable Riveiro became the darling of The Ghost, and last…

The table-topping Sharks host the Lions in Durban on Saturday in what promises to be an absorbing Currie Cup clash where there will be more at stake than vital log points. The Sharks are coached in the Currie Cup by Lions old boys Joey Mongalo and Philip Lemmer, and if a comment made by the former is interpreted correctly the Sharks are hungrier than ever to continue their six-game winning streak. Mongalo, speaking after his team had beaten the Griffons 35-5 in Welkom last week, said: “We are men who take pride in what we do. The last time we played the Lions in Johannesburg, the result didn’t go well for us and there were also one or two things that happened off the field that we want to…

Mauricio Pochettino is back in the Premier League with the tough task of putting the pieces back together after Chelsea’s disastrous first season under their new ownership. The Argentine will take charge of a club that finished 12th in the league despite an eye-watering outlay of more than £550million (about R13billion) on new players under Todd Boehly’s consortium. Pochettino made his name in management by making the most of meagre resources at Espanyol, Southampton and particularly during a five-year stint at Tottenham Hotspur. Eighteen months at Paris Saint-Germain delivered the first silverware of the 51-year-old’s career - the Ligue 1 title and French Cup - but he never appeared comfortable managing the egos of a star-studded squad before leaving in July 2022. Pochettino’s man-management skills will face a severe examination…