Índex per 2024-06-25 a Star

JSE-listed RCL Foods, which is set to spin Rainbow Chickens out of its stable and list it on the bourse on July 26 is expecting headline earnings per share (Heps) to be 75% higher for the year to June. RCL Foods yesterday said this expected earnings surge would be mostly driven by Rainbow Chickens and its groceries units. In a trading statement, RCL said earnings per share across all its operations should be at least 125% higher year-on-year when compared with the 69.3 cents per share reported in 2023. The difference between the two measurements, it said, was that Heps stripped out the profit on the sale of the Vector segment and insurance proceeds in respect of the fire damage at its Komatipoort raw sugar warehouse, which occurred during…

THE ELATION seen in the markets and reflected in the local currency after the news that the country would have a Government of National Unity (GNU) has worn off as the ANC and DA – South Africa’s two largest parties – seemingly hit an impasse over key Cabinet positions. This comes as disagreements continue to delay the constitution of the GNU as the DA demanded the Deputy President position along with 11 Ministers, Deputy Ministers and the right to appoint their directors-general, while President Cyril Ramaphosa said the GNU cannot be preoccupied with jockeying for positions, tussles over appointments or squabbles within and between parties. As a result, market gains have been eroded as investors become rattled over the uncertainty in determining key leaders for the new administration. The rand,…

CONFIDENCE within the agricultural sector plunged to its lowest level in 15 years in the second quarter of this year after the industry was the main positive contributor to the gross domestic product (GDP) in the first quarter. The Agbiz/IDC Agribusiness Confidence Index (ACI) released yesterday, remained depressed and reached 38 points in the three months to June from 40 points in the previous quarter. This was the lowest level in the ACI since the third quarter of 2009, which was in the global financial crisis. Agricultural Business Chamber (Agbiz) chief economist and author of the index, Wandile Sihlobo, said this ACI print implied that agribusinesses remained downbeat about business conditions in the country. Sihlobo said there remained some pessimism in the sector, although some subsectors had an…

PPC declared its first dividend since 2015, but “meaningful organisational reset and tough decisions” were necessary for its sustainable future, the CEO for seven months, Matias Cardarelli said at the release of annual results yesterday. The group did well for the past year to March 31, considering that it re- ported a headline earnings a share of 19 cents versus a 20c loss per share at the end of the 2023 year, and a final dividend of 13.7c per share was declared. Cardarelli said in a telephone interview, that the performance since year-end was in line with subdued trading conditions of the last quarter of the last financial year, and the group’s management did not believe there would be a respite from this in the short term. This…

IN JULY 2023, Umhlobo Wenene FM – 123 Pholaz Show (hosted by Amaza Ntshanga and Lusanda Mbane) featured one of the first technology features on Umhlobo Wenene. This was a pilot for something far more bigger than a five-minute update on technology developments. For the first time, well-researched technology commentary was heard in an African language – isiXhosa. This was rare, as most technology analysis and updates are mainly in English. The motivation and thinking behind this feature is even more important to understand as this feature is about to evolve. It’s also important to note that this technology commentary was sourced from a platform (Lunttu), which is currently under development in Kaya- mandi, a township in Stellenbosch. The objective of this platform is to create an online presence for…

SOUTH African musician and businesswoman Lady Du was recently named as the top female artist on Amapiano Grooves by Spotify. Apart from making music, Lady Du is also making moves in the beauty world. Last year, she launched her beauty salon in Kwa-Thema, Springs, called Wawa La Beauty, and is now set to expand her empire with the introduction of a second outlet. On her birthday, May 17, the musician, real name Duduzile Ngwenya, released her EP, Underrated. The musical offering is a tribute to her journey, resilience and heritage. Inspired by her grandfather and the obstacles she’s overcome, each track reflects her personal wins and celebrates her roots. Meanwhile, as she was awarded the accolade by the streaming giant, the amapiano star took to Instagram to share this achievement…

When was the last time you heard Coldplay? Fans will be excited to know the British band, known for hits like Yellow and Viva La Vida, have released a new single, feelslikeimfallinginlove. Coldplay, formed in 1996, are made up of Chris Martin, Jonny Buckland, Guy Berryman and Will Champion. The band have achieved worldwide fame for their sound of alternative rock and pop music. Their last album, Everyday Life, was released in 2019 and received critical acclaim for its diverse sound. It’s been almost five years since the band released new music, but fans now get a taste with their latest single. If you’re a regular Coldplay listener, you’ll recognise their knack for evoking nostalgia, making it easy to imagine yourself living out the song. On Friday, Coldplay released feelslikeimfallinginlove,…

Leader of the African Transformation Movement (ATM) Vuyo Zungula says his party will not join the ANC and DA-led Government of National Unity (GNU), but will remain part of the MK Party-led progressive caucus. This comes after two parties: Al Jama-ah and the UDM, which were initially part of the caucus, signed up with the GNU at the weekend. Zungula said joining the DA and ANC would be endorsing corruption and secret deals being made on holding President Cyril Ramaphosa accountable for his Phala Phala farm debacle. “No, the ATM will not join the GNU. We do not have a problem with other parties that have joined the GNU as these parties have made their choice on what is best for them. “They are welcome to do that as we…

The national counterfeit goods unit seized counterfeit goods worth R15.5 million at a mall at the corner of Rahima Moosa and Von Wielligh streets in the Johannesburg central business district (CBD) on Friday. Gauteng police spokesperson, Lieutenant-Colonel Amanda van Wyk said the operation resulted in the seizure of over 18 000 counterfeit items. The items included shoes, sports apparel, handbags, caps and perfumes. Last Friday, IOL reported that the national counterfeit goods unit pounced on a factory sewing fake branded clothes worth R6.6m at Rahima Moosa Street in Johannesburg CBD. The operation resulted in the seizure of over 7 000 counterfeit items. “These items imitating well-known brands included shoes, clothing, handbags, caps, perfumes, cosmetics and backpacks.” Van Wyk said police also seized sewing machines, an overlocker machine, embossing machine, a…

Popular media personality Minnie Dlamini has refuted social media claims about her relationship status after yet another accusation was recently thrown at her, adding to an endless list of allegations made online. Her rebuke was sparked by accusations by gossip blogger Musa Khawula, that Dlamini was romantically involved with the late MultiChoice boss, Nkateko Mabaso. Dlamini denounced the claim, stating that it was an insult to Mabaso’s family and his memory. “I thought you said I cheated with Edwin Sodi? Now its Nkateko Mabaso? Which one is it? Who is next? Let it go, bro, damn. This is incredibly disrespectful to my friend’s family and his memory. People are mourning; you have no shame.” This is not the first time Dlamini has been in the spotlight for the wrong reason;…

The Proteas’ Achilles heel at major ICC tournaments has long been their inflexibility. Their inability to adapt to different situations, conditions and a multitude of teams has regularly proved to be their undoing. But here, at this ICC T20 Men’s T20 World Cup in the US and Caribbean, under the leadership of captain Aiden Markram and coach Rob Walter, this group are laying that all to rest. Markram, who has the experience of leading the Sunrisers Eastern Cape to back-to-back SA20 titles, produced a tactical masterclass against the co-hosts West Indies in the final Super Eight clash that ensured the Proteas’ progression to the T20 World Cup semi-finals for the first time since 2014. Markram’s rotation of his bowling line-up and identification of match-ups were integral to the Proteas restricting…

The Eastern Cape has new champions of the Engen Knockout Challenge after eBhayi FC and Nav Galaxy FC were crowned the 2024 Engen Knockout Challenge Eastern Cape champions over the weekend at the Nelson Mandela Metropolitan University (NMMU). The return of the tournament to the talent-rich Eastern Cape province lived up to high expectations, with all 24 participating teams producing quality youth football at the two-day tournament in Gqeberha. The crowning of eBhayi FC in the boys and Nav Galaxy FC in the girls’ divisions means the province will be represented by new teams at this year’s Engen Champ of Champs, with eBhayi dethroning Chippa United in the boys’ section, while Nav Galaxy take the crown from City Lads FC. eBhayi FC finished top of the group following a 3-1…

South Africa lost the One Day International series 3-0 and along with it missed out on crucial ICC Women’s Championship points. However, there were positives to take away from the series. Throughout the series, opening bowlers Ayabonga Khaka, Masabata Klaas and Tumi Sekhukhune (in the third ODI) dominated and put pressure on India women’s top-order batters. The quicks consistently took wickets with the new ball up front and set a solid foundation for spinners Nonkululeko Mlaba and Nondumiso Shangase to take the game away from the hosts. On the batting front, despite being bowled out for 122 in the first match, the side brought up one 300-plus total and fell five runs short from completing a world record chase of 326 in the second match. Proteas women’s captain Laura Wolvaardt…

AS PART OF its mandate to transform the sector, the Property Practitioners Regulatory Authority (PPRA) recently announced a proposal that all real state agents should meet a level 8 Black Economic Empowerment (BEE) requirement to be eligible to receive a Fidelity Fund Certificate certificate. While level 8 is the lowest level of BEE compliance possible, with level 1 being the highest, many small and medium-sized entities have expressed concerns about the new proposal, stating that failure to comply could lead to business closures. It’s no secret that the fiercely competitive nature of the real estate market presents significant hurdles for black real estate brokers seeking entry into profitable sectors, hindering their growth potential and undermining principles of inclusivity and fairness. If BEE is not the answer, what can be done?…

WEWORK Global has successfully completed the restructuring of its wholly-owned portfolio and emerged from Chapter 11 in the US. WeWork South Africa, a 100% independently owned entity, operates separately from WeWork in the US and Canada and was not affected by the Chapter 11 process that has been under way in the US for the past nine months. Stefano Migliore, CEO of WeWork South Africa, said while WeWork South Africa operated independently from WeWork Global, its strengthened capi- tal structure and optimised real estate portfolio would benefit the entire ecosystem. “Through this process, WeWork Global has achieved extraordinary outcomes by completing a historically large and complex restructuring,” Migliore said. With its restructuring complete, WeWork Global has also appointed a new CEO to lead the company in its next chapter. John…

Orion Minerals managing director Errol Smart yesterday said that there was an intensification of copper mining exploration activity. This comes after the Industrial Development Corporation (IDC) in May approved an additional R43.7 million financing facility for Orion Minerals’s acquisition of a controlling stake in the Okiep Copper project in the Northern Cape. Orion reported yesterday that new “drilling results further amplify the potential for the Flat Mines ore bodies to replicate the typical nature of Okiep copper intrusive mineralisation, where zones of very high-grade mineralisation are commonly contained within large bodies” of moderate grade. The fresh assay results received for a further three diamond drill holes at Flat Mine East built up on assays reported in April. The Flat Mine East project described as a “virgin discovery that is…

The transformative power of Artificial Intelligence (AI) is no longer simply a hypothetical concept as the significant benefits of this technology are being realised across every facet of business, industry, and our daily lives. It is no surprise then, that AI has just as many significant implications for the cryptocurrency market in that widespread adoption could lead to greater efficiencies, enhance trading strategies, reduce fraud and minimise risk, and ultimately drive greater innovation in the space. In South Africa, in particular, a more innovative AI-powered crypto- currency market holds immense potential to further drive financial inclusion by democratising access to crypto assets and offering secure and efficient financial services and investment opportunities to a more diverse population. This is especially the case since there is a growing appetite for cryptocurrency…

MZANSI a cappella group, The Joy, have finally dropped their much- anticipated debut album. Titled The Joy, the 11-track album was recorded during one live take in London last year and has no instruments or overdubs. It is produced by Transgressive Records and was released on Friday. The 5-piece vocal group is made up of Pastor (Ntokozo Bright Magcaba), Duzie (Melokuhle Mkhungo), Guduza (Sphelele Hlophe), Sthombe (Phelelani Sithole) and Marcus (Sanele Ngcobo). Their album opens with a prayer song, Uhlenge. In this track, the artists ask God for protection from anyone who may try to attack them spiritually. The album also includes Amaqatha Amancane, which is inspired by South African culture as it gives a vivid picture of a Sunday at the shisanyama, a communal space where people from diverse…

FORMER president and uMkhonto weSizwe Party (MKP) leader Jacob Zuma’s daughter, Duduzile Zuma-Sambudla, is unlikely to be one of the party’s MPs to be sworn in today. This despite her being number 18 on the original list before some members were replaced by 21 others. The party bagged 58 seats in the National Assembly overtaking the EFF to become South Africa’s third-largest party after last month’s general elections. The 58 party members were due to be sworn in last week during the first sitting of Parliament. However, the party boycotted the first sitting claiming the election was rigged. Zuma-Sambudla had initially shown no interest to occupy a seat despite her father having been barred by the Constitutional Court that he was not eligible. She has been holding her father’s…

Economists are predicting a big drop in petrol and diesel prices next month, saying it will bring much-needed relief to under-pressure consumers. Experts have attributed the drop to relatively low international oil prices and a strong rand. Eleanor Mavimbela, Automobile Association (AA) spokesperson, said unaudited mid-month fuel data from the Central Energy Fund (CEF) indicates a decrease in all fuel prices in July. “Based on the current data, ULP95 is showing a decrease of around R1.10c/litre, while ULP93 is indicating a decrease of around R1.15c/l. “Diesel is again edging towards a decrease of 55c/l and illuminating paraffin is showing a decrease of around 45c/l.” But Mavimbela added that the decreases would not move the price of fuel to the relatively low levels seen at the beginning of the year. “At…

Sun City is going to great heights in its bid to take the resort completely off the grid. With all available space on the roof of Sun Central now covered by solar panels, the resort lifted its sights to the roof at The Palace and the Sun City hotel. Brett Hoppé, general manager of Sun City, said conventional installation methods such as cranes would have inconvenienced their guests. “So, given the scale of the project, we decided that airlifting the equipment was the best and quickest solution. At its highest point the Palace is 70m high, so lifting 1 193 solar panels and the supporting steel structures on to the roof is no mean feat. The hefty panels were packed into crates, with each one weighing just under a…

People will frequently ask, “Why don’t you leave?” or say, “I would have left a long time ago,” after learning that someone they know is in an abusive or toxic relationship. However, leaving is never an obvious answer for everyone. IOL spoke to two individuals who are in relationships that some might consider unconventional and devoid of love and respect. *Lerato Kenosi (not her real name) is a 43-year-old mother of three children. Two are from her previous relationships, and one is from her current marriage. Kenosi said her husband had an affair with her younger sister, *Kelebogile, 24, and impregnated her twice. Despite this, Kenosi remains in the marriage, and they all live together under one roof. Although this appears to be an unusual set-up, for Kenosi, it was…

FIVE months after his death, lyricist and playwright Dr Mbongeni Ngema is still receiving global recognition and his legacy is being kept alive. The thespian was honoured at the 77th annual Tony Awards at New York’s Lincoln Centre in the US last week. He also recently bagged a nomination for the Simon Mabhunu Sabela KZN Film and TV Awards where he was recommended for the Best Supporting Actor category for his role in A Queen’s Lobola. Ngema died in a car crash in December, while coming back from a funeral of a colleague in the Eastern Cape. Speaking to The Star yesterday, his brother Nhlanhla Ngema described the feeling as thrilling and a validation of his talent. “The family is thrilled and incredibly proud of Dr Mbongeni Ngema’s global recognition.…

WHEN will the ANC realise that it is its errant behaviour that is chasing away voters and supporters from the party? It is reported that Zizi Kodwa will be sworn in as an MP this week. This is outrageous because Kodwa has been charged and has appeared in court over bribery allegations stemming from the state capture commission. Accordingly, following its rules, Kodwa should have stepped aside while he deals with the matter, but here he is, going about his duties, with no worry from Parliament. If the ANC is unable to respect its own internal processes, why should the public have any confidence that it would respect the laws of the country? What about all those who have been expelled from the party because they were criminally charged? What…

Max Verstappen may have claimed his seventh win from 10 races this season, but the Spanish Grand Prix was far from a walk in the park for the three-time world champion. Lando Norris blamed a poor start for failing to convert pole into victory as the in-form McLaren driver crossed the line just seconds behind Verstappen’s Red Bull to suggest the 2024 title race is far from a done deal. We look at three things we learnt from an incident-packed weekend in Catalonia. McLaren rue imperfect getaway “Our dominance is completely gone,” Max Verstappen said after Lando Norris pipped him to pole by two hundredths of a second in qualifying. Although the Belgium-born Dutch driver took his by now customary place on the top rung of the podium at the…

NASPERS’s full-year earnings more than doubled as its e-commerce businesses became profitable six months ahead of schedule and from a higher contribution from China’s Tencent, which accounts for the bulk of earnings and revenues. The technology investor that also controls the Netherlands-based technology group Prosus said its core headline earnings per share, a key indicator of operating performance from continuing operations rose to 1 148 US cents for the year to March 31, from 546 US cents a year ago. Anchor portfolio manager Mike Gresty said while it had been evident at the interim stage that the e-commerce businesses would reach profit- ability earlier than envisaged in the original guidance, it was nevertheless a milestone to have achieved this. So long as the e-commerce portfolio was largely unchanged, the…

Hyprop Investments is seeing renewed optimism within South Africa’s economy post the May 29 elections and the subsequent consummation of a government of national unity (GNU), with retail vacancies at its properties narrowing, and rental collections going up. Earlier this year, analysts warned that SA Real Estate Investment Trusts (Reits) were in for a bumpy ride from retailers facing headwinds. However, with the elections passing without much negative incidences, prospects for the SA retailers, especially value grocers and clothing and apparel retailers have brightened. For Hyprop, the post-election period is ushering in renewed optimism, despite logistical constraints that industry players nonetheless are hopeful will be resolved under expected policy reforms. “In South Africa, despite the power and water-supply concerns, and the challenges of the tough economic conditions, there is renewed…

IN 2020, CYBERSECURITY Ventures projected that worldwide spending on cybersecurity would range between $160 billion (R2.93 trillion) and $170bn in 2023. Cybersecurity risk surge The forecast by the digital economy and cybersecurity industry-focused research and media organisation was driven by the escalating threat of cybercrime, anticipated to cost the global economy $10.5trln annually by 2025. It turns out that in 2023, global spending on cybersecurity surpassed expectations, reaching approximately $188bn. According to Gartner’s 2023 cybersecurity sector forecast, the research and advisory firm expects global end-user spending on security and risk management to hit $215bn this year. Africa’s unsettling underinvestment Despite the global uptick, it's concerning that in Africa, cybersecurity spending remains disproportionately low. The International Data Corporation’s Worldwide Security Spending Guide projects that security spending in the…

Music artist Brenden Praise recently sat down with Kaya 959 radio presenter Thabo “T-Bose” Mokwele to chat about everything from starting off in a back room to getting married at 23 and making a name for himself in the industry. Praise, who recently featured on The Color Purple soundtrack with his frequent collaborator, Mörda, told T-Bose how much work went into his marriage. “When I think back and, if I knew what I know now, I probably wouldn’t have done it (marriage), just because we personally were not ready as people. There was a lot of work that I had to do in building my character,” he said. In the same breath, he added that having someone who he could reflect with, was very helpful. The father of two shared…

Power utility Eskom has shortlisted five contractors to supply the first batch of 26 transformers to be awarded by the end of next month as it embarks on a massive project to install more than 14 000km of new transmission lines by 2032. This comes as the National Transmission Company of South Africa (NTCSA), to be launched next Monday, sets out the “largest infrastructure roll-out programme since the inception of its predecessor, Eskom’s Transmission Division with the commitment to deliver 170 transformers to bring on board 105 865MVA transformer capacity and 14 218km of new transmission lines by 2032”. The suppliers, mostly local with an international footprint, will compete for various tenders in coming years. Eskom said yesterday that the contracts were expected to be worth about R7 billion…

Brand public relations (PR) has evolved into a crucial tool for business success, with community building at its core. Young and expanding businesses are increasingly focusing on establishing genuine connections with their audiences, making community-driven PR strategies essential. This dynamic interaction between brands and communities fosters trust, loyalty and long-term success. Brand public relations (PR) is a strategic communication process that focuses on building and maintaining a positive image and relationship between a brand and its target audience. Unlike traditional advertising, which is typically direct and transactional, brand PR is about creating meaningful, long-lasting connections through storytelling, community engagement and media relations. The goal is to shape public perception, foster trust and cultivate a loyal customer base by highlighting the brand’s values, mission and achievements. Effective brand PR strategies not…

MTN South Africa has come out to set the record straight on the controversial three-year municipal Transversal Contract. The telecommunications giant told The Star that the contract was not a tender or a pilot project. “As per standard Transversal Contracts, MTN Business is not the only supplier or organisation that has been awarded an opportunity to offer smart electricity and water technology services to the municipalities. “MTN Business, just like other service providers who were awarded the RT29 Transversal Contract, followed all due processes. “It is important to note that ‘Transversal Contracts’ are centrally facilitated contracts arranged by National Treasury for goods or services that are required by one or more state institutions,” MTN South Africa said. According to the telecommunications giant, terms outlined by National Treasury dictated that each…

THE Church of God in Pretoria held the Forest of Hope campaign at Magnolia Dell on Sunday in commemoration of World Environment Day (June 5). Church members from Pretoria and Johannesburg attended the campaign. Among them was Kgolofelo Mahuma, who said that the goal of the campaign was to reduce carbon by carrying out climate-change response activities through public-private co-operation within the local community. “The World Mission Society Church of God is taking the lead in creating a global forest ecosystem through the global campaign,” he said. The City of Tshwane provided supplies such as 13 trees of Toad Tree, African Olive Tree, Karee Tree for planting, and garbage bags to support the church’s efforts to create a Forest of Hope. During the campaign, volunteers held a panel exhibition to…

Close to 83% of the global population use their gadgets in bed, a recent survey by NordVPN has revealed. As the world is subject to a digital and technological environment, the survey found that 88% of people used a smart cellphone in bed, followed by 43% who prefer watching TV and 33% who consume content using a laptop. NordVPN is the world’s most advanced virtual private network service provider and a cybersecurity company that protects users’ internet experience from online security threats and malicious websites. Adrinaus Warmenhoven, a cybersecurity adviser at NordVPN, said people tended to use their smartphones in more relaxed environments, which, in hindsight, subjected them to hackers infiltrating their firewall, thereby endangering their cybersecurity. “We already knew that people carry their respective smartphones everywhere, because our previous…

A SOUTH African Nelson Mandela Centenary R5 coin made in 2018 has sold for R6 700 on the Bassani Auction House app. This is according to a TikTok video by a content creator with the username @landonhistory. According to the video, the R5 Mandela coin in good condition can be sold for R100 or R200. However, the coin that sold for R6 700 is much different to a regular R5 coin because it has the letters CW, which stand for Coin World. The letters CW means the coin was struck on the Oom Paul minting press in 2018. The press is one of the oldest working minting presses in the world, and it started pressing coins in 1892. The Oom Paul is still making coins today. The TikToker said there…

It was not the most fluent of Tests, but the Springboks showed signs of continuing their domination in world rugby with a convincing 41-13 win over Wales at Twickenham on Saturday. There were monster scrums that they sometimes were not rewarded for, and then a few good debuts by the newcomers. Overall, it was a satisfying first Test. Ahead of the naming of the squad today to face Ireland next month, Leighton Koopman highlights five talking points from the Boks’ first outing this year. Springbok depth is at an all-time high Considering how many players missed out on selection for the Test that would’ve made just as big an impact as the newly baptised Boks, it’s safe to say that depth in any position will not be a problem for…

Several former Bafana Bafana coaches, including Brazilian Carlos Alberto Parreira, used the Cosafa Cup tournament as a springboard to blood future talents for the national side. Parreira discovered star players, such as Teko Modise and Kagisho Dikgacoi, who became regular internationals from 2008 onwards after playing in the 2007 event. Modise, nicknamed ‘The General’, was brilliant at the 2007 Cosafa Cup after making his international debut against Malawi in the same tournament. He helped Bafana Bafana to reach the final and scored the winning penalty in the shoot-out against Zambia. He was named ‘Player of the Tournament’. He played in the 2010 World Cup and won several major trophies with Mamelodi Sundowns. Eventually, he played over 300 Premiership matches. Dikgacoi’s first national call-up, at the age of 23, was for…