Índex per 2024-06-21 a Star

NAMPAK’S share price closed a whopping 23.4% higher at R228 on the JSE yesterday after the packaging group, which is undergoing massive restructuring due to financial difficulties, said it would likely report a turnaround to a profit on a per share basis for the six months to March 31. “The most salient first-half performance drivers include a step change in performance of the continuing operations, an effective cost reduction programme, lower foreign exchange losses, improved working capital, progress on asset disposals and lower impairments,” the group said in a trading statement yesterday. As an indication of how favour-ably investors have viewed Nampak’s restructuring so far, the share price was closing at R22.80 yesterday, while a year ago it was trading at only 76 cents. During the first half, various…

PETROCHEMICAL giant Sasol closed 2.1% higher on the JSE after it won a R3.8 billion claim against transport utility Transnet, plus about R2.3bn in interest, after litigation that started in 2013. Sasol and TotalEnergies had accused Transnet’s pipelines subsidiary of overcharging on the transportation of crude oil from Durban to the Natref crude oil refinery in Sasolburg by not correctly using an agreed formula to determine the tariff. Transnet said yesterday it would appeal the High Court judgment. Transnet said the dispute flowed from the transportation of crude oil on their pipeline from a historic agreement that was cancelled in 1991, allowing for neutrality tariffs, maintaining that Total and Sasol had a transportation benefit from a finite public resource, which other oil companies like BP, Shell and Caltex did…

The INTERNATIONAL Energy Institute has warned that the increasingly severe impacts of climate change were felt across all continents as 2023 was the warmest year since records began, with global temperature increases averaging close to 1.5ºC. According to the Statistical Re- view of World Energy report by the institute, in collaboration with KPMG and Kearney, the last year broke records in the climate barometer as the 2023 global energy-related greenhouse gas emissions exceeded 40 giga- tons for the first time ever. This was also the second consecutive record year for global primary energy consumption as it grew by 2%, reaching 620 EJ (exajoule), a growth rate 0.6% above its 10-year average and over 5% above its 2019 pre-Covid level. “Whilst a new record in the consumption of fossil…

ESTABLISHED, new and emerging artists and a network of producers, writers, creators and fans are headed to Makhanda for the 50th National Arts Festival (NAF), which opened yesterday. Running until June 30, the festival features about 300 works over the 10 days, ranging from live theatre productions to talks, workshops, visual art exhibitions, masterclasses and music concerts. To mark the milestone celebration, this year will see legendary muso Sipho “Hotstix” Mabuse, 72, return to the stage, while iconic actor Sello Maake KaNcube will reprise his role in The Suit, 30 years after he was in the same play on the NAF stage. Monica Newton, CEO of the festival, said: “It’s an honour to be staging this festival 50 years after its first curtain was raised. Despite an always changeable,…

EFF leader Julius Malema has accused the State of pursuing him unnecessarily and wasting its resourcing over a weak case inspired by AfriForum’s “racist agenda” which wants him found guilty at all costs. Malema, who has appeared alongside his bodyguard, Adriaan Snyman, at the East London Magistrate’s Court over the discharge of a firearm during the party’s fifth anniversary celebrations in Mdantsane in 2018, told members of the media following his cross-examination by the State prosecutor that he was innocent as he had not fired a real gun, but a toy gun. “We hope that the court, now that it has heard my version, will arrive at a proper conclusion. AfriForum is threatened by a black man. Once you advocate for Africans to be equal to the white man, you…

Outgoing Minister of International Relations and Cooperation Dr Naledi Pandor has poured her heart out to South Africans as she waves her goodbyes following the end of her term and her decision to resign from Cabinet. Earlier this year, Pandor announced that she would “in any case not hold public office” when the new government was formed. In a video message to South Africans, Pandor said she thought it important to formally wave her goodbyes to South Africans following the end of her term and her personal decision to excuse herself from Cabinet activities which she had announced ahead of the elections and the resumption of the seventh administration set to be unveiled sometime next week. “I thought it important that I should deliver a message to all our officials…

IFP President Velenkosini Hlabisa said political parties, committed to advancing the interests of the people, should be allowed to join the new Government of National Unity (GNU) led by the ANC. Hlabisa’s views are in sharp contrast to those of the DA’s federal chairperson, Helen Zille, that any party that wants to join the GNU can only do so with the approval of the pact partners. Speaking to The Star’s sister paper, The Mercury, yesterday, Hlabisa called on parties that were part of the GNU to refrain from giving individual interpretations of the agreement that forms the basis of the pact. He said the parties should instead meet in private, find the common meaning of the agreements, and interpretations and then speak in public with one voice. The DA and…

At least 114 young people in Tshwane have been roped into a three-year artisan programme to equip them with skills to be employable upon completion of the course. The programme will be run under the tutelage of the Tshwane Leadership and Management Academy and it will impart learners with skills in plumbing, welding, electrical, mechanical, fitting and turning and boiler-making apprenticeships. Tshwane mayor Cilliers Brink expressed the hope that the programme would change the lives of these young people for the better during an event to welcome them that was hosted at Tshwane House yesterday. Brink said the artisan programme was the largest in the country and would afford learners the opportunity to gain theory and practicals in their courses at the academy. Part of the training, he said, involved…

This must be a difficult time for the president – he is faced with the task of forming a new Cabinet, with all the parties in the Government of National Unity (GNU) expecting to be considered for meaningful positions in the government. What complicates the situation is the fact that there are some in the ANC who expect the GNU to be a temporary solution, with the hope that by the time the next national elections take place, the country, under the ANC-led GNU, would have performed so well that the voters might be happy to return the country to the ANC. But that might not be the case; the voters cannot be fooled, and they might want South Africa to continue under the GNU, so the transition is a…

Heinrich Klaasen is hoping the Proteas can “play our big moments better than them” when they face England in an all-important ICC Men’s T20 World Cup Super Eight clash in St Lucia today (4.30pm SA time start). The teams enter this heavyweight bout in contrasting fashion. The Proteas are unbeaten in their five matches, but have yet to put together a complete performance. England, meanwhile, were on the brink of exiting the tournament due to weather disruptions and a defeat to arch-rivals Australia, before squeaking through on net run-rate. However, the defending world champions rediscovered their mojo in their opening Super Eight clash, when they produced a clinical performance to down co-hosts West Indies by eight wickets on Wednesday night. The stage is therefore all set for an absolute humdinger…

France boast fearsome strength in depth, but remain hugely reliant on Kylian Mbappe for inspiration – and are now facing the prospect of being without their injured superstar for at least their next Euro 2024 game against the Netherlands today (9pm SA time start). Captain Mbappe is recovering from a broken nose suffered in Monday’s 1-0 win over Austria in Dusseldorf in their opening match at the tournament. The new Real Madrid signing – who forced the own goal by Maximilian Woeber which decided the game – was hurt in a collision with Austrian defender Kevin Danso, and was replaced by Olivier Giroud. The French Football Federation later said Mbappe would not need an operation, but admitted he would need to be fitted with a mask before he could return…

Sanele Nohamba will not admit defeat, not when there is so much work to do and goals to achieve – not for himself, per se, but rather for his team. The Lions scrumhalf had a week of dichotomy over the last several days. On the one side, he had to grapple with the disappointment of missing out on Springbok selection ahead of a once-off Test against Wales tomorrow, while on the other, he was named the URC Player of the Season for his spellbinding performances for the Joburg-based outfit. “The dream is still alive,” Nohamba said in a telephonic interview with Independent Newspapers from the Eastern Cape, regarding playing for the Boks. “I know the guys there will get the job done this weekend, but my job is not done…

Preparations for the 2024/2025 season have begun for clubs around the country, with major movements expected to happen at some of the nation’s biggest outfits. Having finished in an abysmal 10th place on the DStv Premiership standings last season, wholesale alterations were expected to happen at Kaizer Chiefs. The Soweto giants are in desperate need of a coach and arguably a group of players to usher them back to their glory days, in order to perhaps notch up their first trophy in nine seasons. If reports are anything to go by, the Amakhosi have already got their man with the arrival of Tunisian tactician Nasreddine Nabi imminent in the next few weeks. While the club is yet to announce the 58-year-old mentor, various reliable sources and publications have confirmed there…

TRANSNET National Ports Authority (TNPA) has appointed Grindrod South Africa as the preferred bidder to develop and operate a container-handling facility at the Port of Richards Bay, as part of plans to drive im- proved port efficiency and service levels. This comes as Transnet embarks on a strat- egy to attract more private sector players into the development and maintenance of port infrastructure as part of structural reforms on the back of financial constraints. TNPA said yesterday that this development will enable an increase in the port’s container handling capacity from 50 000 twenty-foot equivalent units (TEUs) to 200 000 TEUs per annum, in alignment with the provincial ports master plan. Grindrod SA is ideally positioned to spearhead the development and operation of this facility, which is scheduled…

THE MILESTONES that the Barokolo- gadi Communal Property Association (CPA) achieved after having the 26 000 hectares adjacent to the world famous Madikwe Game Reserve in the North West province returned to them, bucking the widespread narrative of failed land reform programmes. Amos Setou, the general manager of the Barokologadi CPA, credits a clear growth plan for the success of this land reform project. “Having a clear plan for the community provided a foun- dation for the co-ordinated strategic development efforts that needed to take place on the farm to ensure that the restored land benefited our people – the Barokologadi ba ga Maotoe community, Setou said. When the CPA held its first annual general meeting back in 2007, it took the decision to formulate measured plans…

Stacy Rouchos ONE MIGHT recall last year, in an effort to avoid being grey listed by the Financial Action Task Force (FATF), South Africa made significant legislative changes. One major legislative change was the amendment of the Trust Property Control Act, aimed at combating, inter alia, terrorism financing and money laundering. It seemed almost overnight that South Africans were expected to comply with these new regulations relating to beneficial ownership, and the sudden demand for compliance has posed significant challenges for trustees and fiduciary service providers. Let’s rewind … Since the 1980s, the leading legislation surrounding the governing and management of trusts in South Africa has been the Trust Property Control Act. However, its framework had become increasingly outdated and as a result failed to align with today’s Fica requirements…

JSE-LISTED Kibo Energy has rescinded its previously announced board changes and has made an about-turn on a proposed share placement amounting to £500 000 (R11.44 million). Kibo Energy is a multi-asset sustainable en- ergy developing projects in sustainable energy, reserve power and long-duration storage that address acute power deficits in sub-Saharan Africa and the UK. Earlier this month, Kibo, which has significant interests in UK power- generating assets owner and operator, Mast Energy said it was restructuring its board. Mohammed Ashraf had been proposed to join the Kibo board as executive director and CEO. James Parsons has also been provisioned to join the company in a non-executive director capacity with specific focus on overseeing and implementing the restructuring of the company. Stefania Barbaglio has been enlisted as non-executive…

Two Madonna fans have dropped their lawsuit against the singer for being late on stage. In January, Michael Fellows and Jason Alvarez filed a class action case against the Hung Up singer and promoters Live Nation, after the singer was two hours late starting her Celebration show at the Barclays Center in Brooklyn, New York on December 13 – arguing they would not have bought tickets if they had known the event would not start until 10.30pm. But now they have voluntarily dismissed their suit with prejudice. While such an action often indicates a settlement has been reached by the parties, sources told TMZ that no agreement had been reached between Madonna and the plaintiffs: the men dismissed the lawsuit of their own accord. The update comes a few…

One type of food that reflects the rich diversity and robust flavours of many world cuisines is chutney. Each country has its special chutneys and relishes made using local ingredients and spices. Recently, a South African chutney received global recognition when it was featured among the “50 Best Dips in the World”. The list was released by popular food and travel guide, Taste Atlas. It is based on its rankings as of June 2024. This local chutney occupied the 48th position. The list was topped by Toum from Lebanon. Guacamole, the popular Mexican delight, was ranked 4th, and the famous hummus was placed 10th. What is blatjang? It is a South African chutney. There are many different varieties of this chutney, from slightly spicy to very spicy. It is made…

FOUR suspects arrested in connection with the murder of uMkhonto we- Sizwe Party (MKP) members, Bongani Mkhwanazi and Xolani Nzimande, in May will know their fate next month. The suspects – Jackson Mphahlele, Sithembile Magasela, Mduduzi Ranyao and Sipho Xaba – appeared in the Palm Ridge Magistrate’s Court on Tuesday and Wednesday facing two counts of murder and charges of common assault, assault with grievous bodily harm (GBH) and the discharging of a firearm. Magistrate Shakera Timol postponed the bail application to July 4 for further investigation. Family members of the deceased said they would only be relieved once justice had been served. Mkhwanazi’s aunt, Buyisiwe Mkhwanazi, said the family and Mkhwanazi’s 2-year-old son, Nkosana, were not coping after the tragedy. “The son always asks when will his father come…

It was a well-attended and celebratory unofficial class reunion at UWC at the book launch of the late Dr Enrico G Pedro’s now-completed memoir of the pivotal 1976 uprising. Hosted by the UWC Afrikaans Department, the book Act and Advance! An Unfinished Memoir of the 1976 Student Protests at the University of the Western Cape, brought together alumni from around the province. Some hadn’t seen one another in over 45 years. The book launch was an opportunity to inspire and reflect on a period of youth activism which ignited memories of youth mobilisation and, in some cases, distrust among students. “Who was your impimpi?” was a common question when students started suspecting one another during tense moments. Informants inevitably led to many student activists being incarcerated. The memoirs were edited…

Marco van Staden is a man of few words, but big actions. He lets his play do the talking on the field, and it will be no different for the Bulls in tomorrow’s United Rugby Championship final against the Glasgow Warriors at Loftus Versfeld (6pm start). Probed on a number of issues, especially his main area of concern – the breakdown – Van Staden played with a straight bat yesterday, careful to not give the Scottish club any additional ammunition before the title decider. But what was clear from the Springbok World Cup winner was the Bulls’ purpose tomorrow. “It’s a big occasion, and we suspect it’s going to be a full Loftus. We must stay calm and do the things that we do well. It’s about not making the…

Germany captain Ilkay Gundogan lauded forward Jamal Musiala after Wednesday’s 2-0 win over Hungary, calling him “incredible” and “a joy to play with”. Musiala turned in an assist from Gundogan to open the scoring in the first half, and then played a key role in creating a match-sealing goal for his captain in the second. The 21-year-old also scored a goal and was named Player of the Match in Germany’s 5-1 tournament-opening win against Scotland last Friday. Speaking on Wednesday, Gundogan lavished praise on Musiala, who was playing in his city of birth in German colours for just the second time. “For me, he’s incredible. It’s such a joy to play with him. He’s someone who can do the unexpected in every single situation, and is such a difference-maker for…

DStv Premiership side Richards Bay have begun plotting to secure Vusumuzi Vilakazi as their permanent coach after retaining their top flight status. The Natal Rich Boyz closed their promotion-relegation play-off campaign in style as they ran riot against Motsepe Foundation Championship side Baroka FC and scored four unanswered goals in uMlazi on Wednesday. Somila Ntsundwana grabbed a brace, with the other goals coming from Sanele Barns and Lwandile Mabuya. The KwaZulu-Natal outfit ensured that they finished top of their mini-group above the University of Pretoria and Bakgakga Ba Mphahlele to ensure at least another season among the elite. Vilakazi was roped in by the club in December on a six-month contract, initially as a senior coach, before taking over from Kaitano Tembo as the head coach. Languishing in the relegation…

THE KERFUFFLE around coalitions should have been seen for what it was: political gimmickry. With the ANC failing to achieve a governing majority in the May 2024 elections, the question should not have been with whom to rule, but rather, what are to be the most likely social, economic and political implications of an ANC-led government that has a DA in it. Tell tales of some pact could be discerned long ago. During the 2021 local government elections, the ANC’s Paul Mashatile had let it slip that they “want to keep the ANC position below 50% even in the national elections”. Such puerile, crime against logic talk, did not excite much attention, or censure from the ANC. Elsewhere, the DA had been rightly gloating that the ANC was implementing its…

SOUTH Africa’s long-term insurance sector is experiencing significant transformations driven by various trends. The trends are shaping the future of long-term insurance in the country, influencing product offerings, consumer behaviour, regulatory frameworks and industry dynamics. Understanding and adapting to the trends is crucial for insurers to remain competitive and effectively meet the evolving needs of policyholders. A prominent trend shaping the future of long-term insurance is the demographic shift driven by an ageing population and changing lifestyle preferences. With an increasing number of South Africans reaching retirement age, there is a growing demand for long-term insurance products that cater to retirement planning, health-care needs and legacy planning. Insurers are responding by developing innovative retirement solutions, such as annuities and pension plans, designed to provide financial security and peace of mind…

CREDIT growth across the banking sector is tepid due to the tough economy, and unless the new Government of National Unity continues the momentum to sustain structural reforms, this anaemic growth will likely continue indefinitely, says Mergence Investment Managers senior investment analyst Radebe Sipamla. In a note yesterday, he said that in 2023, domestic banks had to contend with higher and more frequent load shedding, which placed additional strain on the economy across both the retail and business banking segments, with corporates less impacted given their stronger balance sheets that had allowed capital spending on self-generation of electricity. The banks, in response to the challenging environment, had in 2024 markedly reduced their appetite for extending credit, especially to their retail client bases, and they had also tightened credit-granting criteria aggressively.…

Veteran radio presenter Nick Hamman, pictured, is celebrating his new position at 5FM. Hamman, known for hosting 5 Drive, will soon be hosting 5FM’s breakfast show, 5 Breakfast, with Thabo Baloyi on news, Xoli Zondo on sport and Marli van Eeden on traffic duty. The show airs on weekdays from 6am to 9am. Taking to Instagram, Hamman shared: “Hey guys. I’ve accepted an offer from 5FM to host the breakfast show from next month. I’ll tell you more later, but for now, I just want to celebrate a moment that’s been 10 years in the making. See you 6am on July 1.” Hamman is not the only one embracing change. The station recently announced several changes that will be effective from Monday, July 1. Its statement read: “The station has…

While today is the International Day of Yoga, Joburgers can still celebrate it tomorrow. The event seeks to raise awareness about the numerous benefits of yoga and its potential to contribute to individual well-being and harmony. This year’s event is expected to be bigger and better than last year’s, which attracted more than 7 500 people who enjoyed a range of yoga sessions, workshops and demonstrations. “This year’s event aims to surpass that achievement, fostering a vibrant and inclusive atmosphere for all,” the organisers said. The event will see new partnerships, innovative experiences and expanded networks, they said. It is also set to be the largest free outdoor event of its kind in the country, aimed to promote health, wellness and unity through the practice of yoga. “This year marks…

Asset Auctions has an opportunity for property investors with the liquidation auction of 22 townhouse units in Sunset Lodge and vacant land in Phalaborwa, Limpopo. The auction is next Thursday at 11am at Sunset Lodge, corner of Selati and Essenhout streets. The units comprise: 20 bedsitter units, each with kitchenette, bathroom and separate shower Two two-bedroom units, each with kitchen, bathroom and open-plan lounge/dining room 22 carports The units are in the middle-income group and close to all amenities, including schools, shops, hospitals and recreational facilities. Also going under the hammer is the remaining 616m² of land, which is available for development. The scheme permits an additional four blocks, each consisting of 11 units, as well as 44 carports. There is also a development opportunity with vacant land in Phalaborwa…

As negotiations to create a coalition government or a Government of National Unity (GNU) unfold, the ANC faces a glaring challenge: assembling a team of ethical, capable individuals committed to excellence seems increasingly out of reach. Having secured only 40% of the vote, the once-dominant ANC finds itself in a precarious position. To secure a majority in Parliament, it must find coalition partners willing to support its presidential choice and legislative agenda. The alternative, a minority government, appears untenable. Despite remaining the largest party, the ANC’s loss of support since the 2019 election cannot be ignored. The election results reflect the deep frustration of a populace grappling with crime, rampant corruption, poverty and inequality. The unemployment rate is among the highest globally, with voters holding the ANC accountable for shortages…

Most South Africans live in fear of rampant violent crime, with confidence in policing plunging to an all-time low of 21% in 2021/22. Under successive ministers, and the absence of proper oversight, corruption and nepotism escalated along with continuing political interference. All parties in our new unity government must stand firm in ensuring that the best possible candidate is appointed to this crucial safety portfolio. This position calls for demonstrated probity and competence, and any unconstitutional operational ministerial involvement must be forbidden. Section 58 of the Constitution details the role of executive members, who should initiate relevant legislation and policy, and, through oversight, ensure that they are implemented by departmental heads. Immediate changes relating to policing are called for, as per the National Development Plan and the 2018 Panel of…

LOOKING from the outside, it is easy to view the Proteas Women’s 143-run loss to India in the first ODI – where they were bowled out for 122 chasing 300-plus – and think there are major concerns around the group. However, that would be a shallow diagnosis, given that Wednesday’s ODI series loss to India was only their second in the six series they have played in the last year. A closer look at the side’s returns will reveal they scored two 300-plus totals in the last three innings, and at a quicker rate since batting coach Baakier Abrahams got involved with the side. Laura Wolvaardt alone has scored 11 sixes in her ODI career – seven of those in the last three games. Abrahams revealed that the team’s improved…

England failed to guarantee their place in the knockout stages of Euro 2024 after Morten Hjulmand’s spectacular strike earned Denmark a 1-1 draw last night. A point was the least the Danes deserved as England again flattered to deceive in Frankfurt after an underwhelming 1-0 win over Serbia to open their tournament. Harry Kane had given the Three Lions an early lead as England pounced on a Danish defensive error. Hjulmand’s rocket from outside the box levelled the tie before half-time, and Denmark were left to rue missing late chances to secure a famous victory. England remain on top of Group C, two points clear of Slovenia, who they face in Cologne on Tuesday, and Denmark. Serbia’s late equaliser in a 1-1 draw with Slovenia earlier yesterday also keeps their…

Max Verstappen should be back in a happy place as Formula One kicks off a triple header of familiar European races, starting with the Spanish Grand Prix at the Circuit de Catalunya this weekend. Red Bull’s triple world champion took the first win of his F1 career at the track outside Barcelona in 2016, when he was only 18 years old, and has triumphed on his last two visits. Austria follows on the weekend after and then the British Grand Prix at Silverstone, all tracks Verstappen won at last year as he romped to the most dominant championship on record. This year’s race comes after the Dutch driver won a wet Canadian Grand Prix, after three races with different drivers on top of the podium, and the track will suit…