Índex per 2024-06-12 a Star

THE SOUTH African Chamber of Commerce and Industry (Sacci) has warned that confidence among the business community could take a further knock after sentiment dipped for a second month in a row prior to the May 29 elections. The Sacci Business Confidence Index (BCI), released yesterday, dipped by 5.8 points in April to 108.9 points, and further to 107.8 points in May – a decline of 6.9 points over the two months. The latest BCI reading indicated a second consecutive month of declining business sentiment, negatively impacted by the domestic elections. Political developments are of special concern to business, given their potential effect on economic policy and the business climate, and the formation of the Government of National Unity (GNU) is currently uncertain. Sacci said the…

THE RAPIDLY expanding Brazil, Russia, India, China, South Africa (BRICS) bloc is starting its quest for a common currency with a strategy to make 80% of all trade among members in local currencies. The BRICS bloc will also be looking to create a settlement payment system that would be independent of foreign currency and foreign banking systems, as moves are made away from the dominant US dollar. The BRICS Experts Forum met this past weekend to discuss “The Role of BRICS in the Search for a New World Order” on the sidelines of the St Petersburg International Economic Forum, where Russia announced that it was already spearheading the initiative. Russia’s first deputy chairperson for the State Duma, Alexander Zhukov, said there was a “major trend” for the alliance nations to…

THE WEAK ECONOMIC growth during the first quarter of this year was evident in the construction sector, with eight of the 10 constituent indicators of the Afrimat Construction Index (ACI) recording year-on-year declines with the index growth rate slipping to just below zero. Afrimat, the JSE-listed mid-tier mining and materials company, released the findings of its ACI for the first quarter of 2024 yesterday. The ACI, a composite index of the activity level within the building and construction sectors, is compiled by economist Dr Roelof Botha on behalf of Afrimat. The ACI recorded a level of 103.7 points in the first quarter, compared to 117.3 points in the previous quarter, and 105 points in the first quarter of 2023. Botha said the 1.3% year-on-year decline in the…

Thirty years into its democracy, South Africa faces an urgent need to address climate change, with increasing detrimental impacts predicted as we move into the next decade. The Presidential Climate Commission’s State of Climate Action Report highlights that South Africa is entering a more challenging phase, focusing not only on setting targets, but also on achieving them. Youth Day on June 16 offers an opportune moment to reflect on how young people can contribute to this crucial effort. South Africa’s youth can play a pivotal role in driving a just and equitable transition to a low-emissions economy, ensuring that no one is left behind. Empowering youth for a just transition A just transition for young people means being at the forefront of change, using their energy, creativity, and technological savvy…

African Infrastructure Investment Man- agers (AIIM), a division of Old Mutual Alternative Investments, has reached financial close on the 140MW Khangela and 140MW Umsinde Emoyeni wind farms to supply renewable energy to the operations of Rio Tinto’s Richards Bay Minerals (RBM) and Sibanye-Stillwater via wheeling agreements. AIIM said in a statement yesterday that the projects had been led and developed by AIIM’s renewable energy project development platform Aced. Reatile Renewables had co-invested in the projects alongside the AIIM-managed Ideas Fund, one of SA’s largest domestic infrastructure equity funds. Rand Merchant Bank, a division of FirstRand Bank, is the sole mandated lead arranger for both projects, and operations and maintenance services for the projects once built will be provided by AIIM’s in-house operator, EIMS. James Cumming, the general manager of Aced,…

THE SHARE price in Renergen, the operator of South Africa’s only onshore producer of LNG and helium at a site in Virginia in the Free State, yesterday leapt 4.08% after it reported that it had resumed the production of helium this week. The share closed 4.90% up at R10.28 on the JSE. Renergen said it had completed the relevant shutdown, checks, calibrations, and corrective actions and has restarted the facility and resumed liquid helium production as of June 4, 2024. In May the company told its shareholders that since April 2, the Original Equipment Manufacturer (OEM) had brought the helium cold box to the appropriate temperature to liquify helium in batches from its wells. This process involved the purification of the helium to a level of 99.999% purity, which…

The King of Broken Things has not only received rave reviews since it started its run but it has also bagged several accolades along the way – a Gold Standard Bank Ovation Award at last year’s National Arts Festival, a Toyota Woordfees Award in the Family Theatre category and three international awards at the Golden Dolphin International Puppet Festival. It was also nominated for a Fleur Du Cap Award for Best Production for Children and Young Audiences. If that isn’t a testament to its success, I don’t know what is. Written and directed by Michael Taylor-Broderick, much praise goes to Cara Roberts who takes the audience on an adventure as the lead. The story is told through the perspective of a teenage boy, who in restoring broken objects, does the…

PhD holder, Dr Simamkele Dlakavu, this weekend purportedly took to social media platform “X” and demanded the death and assassination of uMkhonto weSizwe Party president Jacob Zuma. Dlakavu, in a series of tweets, purportedly coming from her account, immediately gained traction with more than 900 comments and 395K views. The tweet read: “The best thing you can do for me as a country is kill Jacob Zuma. He must die. Take him out now.” Another said, “Imagine, I wrote a whole PhD about how much I wanted Jacob Zuma to die. Now, it’s just time to make it a reality. I have already manifested his death,” Dlakavu warned. However in a statement, Dlakavu claimed her account was hacked and asked for privacy from “X” users. “My social media accounts…

Renowned musician, Sandile “Young Stunna” Msimango, has been hailed for his outstanding performance at the Red Bull Symphonic Kabza De Small with Ofentse Pitse and the Symphonic Orchestra, held at the weekend. The event has been hailed as a watershed moment in the entertainment industry, as music giants joined hands to showcase the unique blend of modern Amapiano rhythms and classical orchestration. The two-day concert, which took place on Saturday and Sunday at the renowned Lyric Theatre in Johannesburg’s Gold Reef City, is among the most talked about topics on social media with snippets continuing to be shared. One of the most notable moments was Young Stunna’s performance, praised by hundreds of admirers, and other industry stars. Njelic, Daliwonga, DJ Maphorisa, MaWhoo, Nokwazi, and Mthunzi were among those who delivered…

South Africans are waiting with bated breath for Friday’s parliamentary sitting after Chief Justice Raymond Zondo confirmed that the next president of South Africa and Speaker of the National Assembly would be elected in Cape Town on June 14. The National Assembly is expected to swear in 400 MPs. The National Council of Provinces members are set to be sworn in on June 15. This was announced because in terms of the Constitution, a president must be elected no more than 14 days after the election results had been declared. The day is expected to be a significant event, shaping the country’s political trajectory and impacting millions of its citizens. The matter has prompted differing political viewpoints, with many people sharing their thoughts on social media sites following the contentious…

The stands are usually every supporter’s dream to watch a football match from, but in the same breath they could be every coach’s nightmare. SuperSport United coach Gavin Hunt had his nightmarish outings in the stands last season during his team’s run in the CAF Confederation Cup. Hunt was unable to sit on the bench for SuperSport’s games on the continent due to CAF regulations which require coaches to have either a CAF A or Pro coaching licence. However, Hunt has made sure that he avoids having to cut a lone figure in the stands in the near future, ensuring that he enrols for the CAF A coaching diploma via Safa. And after six months of intense training, Hunt and his 25 classmates from all over the country graduated from…

FORMER De Beers CEO Bruce Cleaver is the new board chairperson for JSE-listed emeralds and rubies British mining firm, Gemfields Group. With operations in Zambia and Mozambique, Gemfields has made new changes to its board of directors. It announced yesterday that Cleaver will be taking over as board chairperson and also announced the appointment of two other new non-executive directors. Cleaver will take over from Martin Tolcher effective next month. The former co-chairperson and CEO of De Beers will also chair the Gemfields board’s nomination committee, the company said. “Bruce’s reputation as a pre-eminent leader is well documented and he brings considerable experience of mining gemstones in Africa and marketing them internationally,” said Gemfields. Cleaver described Gemfields as a “unique and extraordinary business” that had “taken a fragmented and…

Manufacturing activity is expected to contribute positively to economic growth in the second quarter after pro- duction rebounded the strongest in nearly a year in April on the back of suspended load shedding. However, there are concerns that the current heightened political uncertainty, as political parties work towards establishing a Government of National Unity (GNU), might hamper demand and place orders on hold at least until there is certainty. Data from Statistics South Africa (StatsSA) yesterday showed that manufacturing production rose sharply by 5.3% year-on-year in April following an upwardly revised 6.5% slump in March. This comes on the back of the manufacturing industry being one of the three sectors that drove much of the downward momentum on the production side of the economy as real gross domestic product (GDP)…

SOUTH Africa’s key industrial exporters have little leg room to wriggle out of the looming Carbon Border Adjustment Mechanism (CBAM) levy. Industries such as iron and steel sector, aluminium, cement, fertiliser, hydrogen and electricity sectors will be affected among others. Industry sees the levy as part of green protectionism, through trade- related climate change response measures, such as border carbon adjustment, or other non-tariff barriers, that are becoming more prevalent internationally in exports markets of the European Union, US, United Kingdom, Australia, Canada and Japan, among others. Analysts caution that the global transition to sustainable development is under way and strengthening. While green protectionist measures, like CBAM, from a Global South perspective are seen as unjust as they place additional burden on struggling economies or companies as they are part…

HEADLINE earnings per share in South African fast-moving consumer goods (FMCG) manufacturer Premier have risen 17.4% to 744 cents for the full-year period to end March, uplifted by a 26.4% firming in operating profits to R1.6 billion. Revenues for the period strengthened by 3.6% to R18.6bn on the back of a 54.8% rise in cash generated from operations to R2.4bn. This comes as Premier benefited from robust stabilisation in the aftermath of soft commodity impacted inflation in the prior period. Earnings before interest, tax, depreciation and amortisation (Ebitda) in the company for the full year soared 18.6% to R2.1bn, “driven by strong performances in both the Millbake, groceries and international” divisions, the company said. Wayne McCurrie, wealth and investments analyst with FNB, said: “Premier good results all round.…

SABC2’s new show, Big Day For 25K, will give 13 couples R25 000 each to create their dream weddings. With the cost of modern weddings often getting many couples into debt, this series seeks to offer a helping hand by giving couples the opportunity to start their married lives without the financial stress and burden of having to pay for an elaborate do. According to a statement: “The couples rely on their friends, families and skills rather than placing reliance on money. There will be tears and laughter, frustrations and wisdom as we journey with them to their big day for 25k.” The 13-episode series will feature couples across South Africa. In the first episode, Pretoria-based couple Monique Warren-Du Plessis and Manie Plessis plan a fairytale wedding after years of…

Céline Dion did not “take the time” to understand the early symptoms of her Stiff Person Syndrome. The 56-year-old My Heart Will Go On singer was forced to stop performing following her 2022 diagnosis of the condition and she has now opened up about how she was distracted from the signs of the condition by caring for her ailing husband and her family. She told broadcaster Hoda Kotb, 59, in an interview this week with the morning show Today: “I did not take the time. I should have stopped, take the time to figure it out.” Referring to how she was caring for her throat cancer-stricken husband René Angélil – who died from the disease aged 73 in 2016 after they were married for 22 years – she added:…

A 39-YEAR-old police constable, Sizwe Cedric Khoza, attached to Masoyi police station in Mpumalanga, returned to court yesterday to be sentenced for the murder of his wife, her sister and her brother. Khoza shot the siblings in cold blood during a family meeting seeking to resolve his marital issues with his wife Nomthandazo Mnisi. Last week, the National Prosecuting Authority (NPA) in Mpumalanga said Khoza had pleaded guilty in the High Court in Mbombela to three counts of murder, after he shot the two sisters who were working as nurses, and their brother Dennis Collen Mkhatshwa. Nomthandazo’s sister was identified as Xolisile Mnisi. “The accused (Khoza) pleaded guilty on three counts of murder and the matter was postponed to June 10 for sentencing proceedings,” Mpumalanga NPA regional spokesperson Monica Nyuswa…

THE City of Tshwane is set to overcome long-standing water challenges through a new agreement with the Department of Water and Sanitation. During the signing of a memorandum of understanding between the two parties at Tshwane House, municipal manager. Johann Metter, was hopeful that the City’s water and sanitation challenges would come to an end. Mettler said: “Addressing our major water challenges requires a collaborative effort between the City and key water stakeholders and the department is one of those key players. “We have been facing significant water challenges which have negatively affected some of our residents for a longer period.” Some of the challenges, he said, can be linked to ageing infrastructure and maintenance challenges at some of the City’s water treatment plants. Rooiwal wastewater treatment plant has constantly…

THE University of Pretoria (UP) has been recognised with the Most Improved – Sub-Saharan Africa Award at the QS EduData Summit 202 4, held on June 4, 2024 in Washington for its remarkable achievements in th e QS World University Rankings. This award is conferred to institutions that have demonstrated the most significant improvement in their ranking over a five-year period, underscoring UP’s commitment to academic excellence and continuous progress. According to the QS rankings, UP ranks globally at position 353 out of the 1 500 universities that qualified for the ranking. Out of the nine metrics, the university ranked within the top 200 universities globally in four metrics: Employer Reputation at position 185, Sustainability at 156, Employment Outcomes at position 122 and International Research Networks at a remarkable position…

Almost 400 players were on show in the United Rugby Championship over 18 rounds. To rise to the top of that crop takes some doing and a dream team will be hugely contentious. Instead, Mike Greenaway picks five players who he felt were outstanding. Kurt-Lee Arendse Jake White described the loss of Arendse ahead of this week’s semi-final as “massive”, and you can understand the Bulls coach’s disappointment. Arendse has been superb this season and the race is on for the Bok medical staff to get him ready for the international season. Arendse is a fearless player despite his small dimensions. He flies into contact and often you wonder how he is going to get up. It may have been a matter of time before he picked up the injury…

The composition of Rassie Erasmus’s 35-man squad for next week’s Test against Wales confirms he has an eye on the future but the reality is that come the visit of Ireland, the Bok coach will revert to the tried and tested. A grudge series against an Ireland team bent on proving a point is no place to experiment and Erasmus will save his blooding of newcomers for later, except where injury forces his hand. Next Saturday at Twickenham, Erasmus will field as strong a team as he can – minus the Bulls players and some overseas-based players yet to be released as the game falls outside of the international window that opens next month. The team for Twickenham will probably feature World Cup finalists Ox Nche, Bongi Mbonambi, Eben Etzebeth,…

THE WORLD Bank raised its global growth outlook yesterday on the back of resilient consumer spending in the US, but warned that growth remains weak by historical standards. In updated forecasts, the Washington-based development lender said it now expects the world economy to grow by 2.6% this year in real terms, up 0.2 percentage points from its last update in January. Its global growth forecast for 2025 remains unchanged at 2.7% – below the average rate of 3.1% seen in the decade before the Covid-19 pandemic. “Growth is at lower levels than before 2020,” World Bank group chief economist Indermit Gill said in a statement, adding that the prospects for the world’s poorest economies “are even more worrisome”. “They face punishing levels of debt service, constricting trade possibilities, and costly…

The MALICIOUS alliance between phony political allies and, in some cases, vicious business scavengers pursuing rent-seeking at the expense of the people’s will must be prevented from undermining democratic patterns. South Africa’s tragic history of apartheid requires that the oppressed majority be prioritised to preserve moral authority and eliminate black poverty. Therefore, in a just society, political bargaining or social interests are irrelevant to the liberties of equal citizenship. South Africa lost its ability to unite as a nation, despite Nelson Man- dela’s efforts to promote reconciliation after apartheid. Instead, the State was bestowed with more power by a demo- cratic constitution that lacked core values. The ANC failed to articulate the South African ethos as a synthesis of the scientific and tolerant values of the Enlightenment with the pragmatic…

ESKOM is the best MBA case study to learn from. The energy utility has, over the years, defied all odds in the classical, general management plus executive leadership best practices case study. When studying the history of Eskom as a company, it is fascinating to see the levels of achievement the organisation has undertaken. Eskom is a 101-year-old company that has had massive successes and challenges over the years. The company was born on March 1, 1923, as the Electricity Supply Commission. It was then when the Transvaal government realised the strategic significance of electricity in growing the economy that the government decided to pass the Power Act. The legislation defined electricity as a public service and gave the government the power to expropriate all private electricity companies in South…

COPPER 360 will ramp up to 20 000 tons of copper metal for its 2026 full year, CEO Jan Nelson said yesterday. In the near term, Copper 360 is working on raising its production profile to the targeted 12 000 tons. “In terms of our outlook, it is to produce our target between five-and-a- half and 12 000 tons of copper metal,” Nelson said during an investor presentation yesterday. “And we’ll grow that in the following year, in the 2026 year, to 20 000 tons and then to 50 000 tons as we ramp up all the different ore bodies that we have on site.” This follows the establishment of robust processing capacity by the company, with the Rietberg mine also coming online.…

QANTUM Foods, a diversified feeds and poultry business, yesterday informed the markets that a fatal incident had occurred at its Malmesbury feed mill on Monday after an explosion occurred. The explosion resulted in the injury of three individuals, one of whom succumbed to their injuries during the night. The two other individuals sustained serious injuries and were currently receiving treatment, but were in a stable condition. “At this stage, the cause of the explosion is unknown and an independent investigation to ascertain the exact cause of the incident has been launched by the company. “All safety protocols were followed during and after the incident, and automated emergency equipment was successfully activated. Fire services were able to bring the resultant fire under control and stabilised the environment,” the company said.…

South African actress Mandi du Plooy-Baard will reprise her role as Theresa on kykNET’s long-standing telenovela, Diepe Waters. The actress appeared on the telenovela briefly in 2022 in a storyline that saw her and Jacques, played by Werner Coetser, in a relationship. According to a statement from the channel: “Theresa got pregnant but Jacques’s father, Gys, was furious, and they had to hide the pregnancy. It was eventually revealed that Johan, whom Sanet and Rossouw raised as their own child, was the baby they hid away.” Now, Theresa is back to reclaim her life and child. “Viewers will meet a new Theresa, or rather, the real Theresa. That doesn’t mean it will all be plain sailing, but her heart is lighter. She is determined to rediscover herself and reclaim her…

Billie Eilish was “ghosted” by a boy. The Lunch singer, 22, has revealed the individual she was getting to know cut all communication with her, and it turned out he was dating someone else. Appearing on the BBC podcast Miss Me?, she told hosts Lily Allen and Miquita Oliver: “It was unbelievable. To this day, he never texted me again. “I was like, did you die? Did you literally die? “It was somebody that I’d also known for years and had a plan, the day of, on the phone, making a plan, this is my address, be there at 3pm – never heard from him again. Ever. I couldn’t believe it.” It turned out he was lying to her. On finding out he was with someone else, she added: “And…

For public relations enthusiasts who want to sharpen their PR skills, The Allure Group (TAG) in partnership with Independent Media will be hosting a brand awareness masterclass under the theme “Building a Brand Through PR Masterclass” on July 3 at World Wanderers Stadium in Johannesburg. The masterclass will be honoured by 12 marketing and PR giants as guest speakers. They will share their skills on building brand awareness, their personal testimonies and real-life cases. Guests include marketing pundit Sylvester Chauke, Willy Seyama, Dr Thebe Ikalafeng and Sibu Mabena, among others. Bonnke Shipalana, founder and group CEO of Johannesburg-based reputation management company, The Allure Group, said PR can significantly raise brand awareness and drive interest and sales. “Good PR can help a company generate earned media placements that assist in constructing…

Two men, aged 75 and 92, were remanded in custody when they appeared in the Brits Magistrate’s Court facing charges of murder, North West police said. The slain victim was an 80-year-old man, according to North West police spokesperson, Lieutenant Colonel Amanda Funani. “Jeremiah Mmatli, 75, and Daniel Madumo, 92, appeared before the Brits Magistrate’s Court (on Friday) for a bail application after the murder of 80-year-old Godfrey Thema Motsepe,” said Funani. “Their case was postponed until Friday, June 14, for a continuation of the bail application.” The two alleged killers had been arrested in Jericho village outside Brits. “Reports suggest the victim and the suspects stayed at an old-age home. A fight allegedly ensued between the suspects and the victim at about 4am on Thursday, May 30,” Funani had…

The Border Management Authority (BMA) has dismissed reports claiming that a transition to a biometric system at OR Tambo International Airport is causing delays for all international departures and arrivals. Commissioner at BMA, Dr Michael Masiapato said the false reports have caused unnecessary concern among travellers and stakeholders. “The current processing systems at BMA immigration services is fully operational and designed to handle the high volume of traffic efficiently. There are no systems challenges at OR Tambo International Airport or any of our ports contrary to the claims made in the public domain. “Our records indicate that average processing times at OR Tambo International Airport remain within acceptable international standards. We continuously monitor and analyse processing times to identify and address any potential bottlenecks,” Masiapato said. Meanwhile, the Deputy Assistant…