Índex per 2024-07-29 a Star

Stronger demand for rubies and emeralds helped Gemfields accumulate $121 million (R2.2 billion) in revenue for the first-half period to the end of June against the backdrop of depressed diamond prices. Gemfields is a market leader in coloured gemstones specialising in emeralds mined from Zambia and rubies from Mozambique. De Beers, which is being demerged from Anglo American, has had to “intentionally lower production” in response to “weaker rough diamond demand” across global markets. Another diamond producer, Petra Diamonds is expecting diamond prices to improve. Gemfields has, however, been benefiting from the stronger emerald and ruby prices for the half-year period to June 2024. “Total auction revenues comprised $121 million (R2.2bn) with continued demand for rough emeralds and rubies,” said the company on Friday. Revenue was generated from Gemfields 75%-owned…

The potential failure of Tongaat Hulett Limited’s business rescue process threatens to unleash a cascade of economic and social consequences that could derail South Africa’s sugar industry, trigger an influx of sugar imports, and result in the devastating loss of an estimated 700 000 jobs. This dire situation highlights the critical importance of Tongaat Hulett to the sugar industry and the broader South African economy. Notably, the sugar industry is responsible for half of all income generated by field crop farming in KZN and Mpumalanga, producing more than R20 billion in annual revenue. It acts as a significant employment driver in rural regions and supports approximately 1 million people through its various farming and milling activities. Tongaat Hulett currently represents around 25% of this industry. It sources as much as…

Amilcar Cabral, who was the secretary-general of the African Party for the Independence of Guinea and the Cape Verde Island, once said: “Always bear in mind that the people are not fighting for ideas, for the things in anyone’s head. They are fighting to win material benefits, to live better and in peace, to see their lives go forward, to guarantee the future of their children.” To a person who has not internalised the words of Cabral, a consistently above 90% victory in an election is evidence of lack of democracy. The recent sweeping victory by President Paul Kagame of Rwanda at 99.18% has created a new term – poll dictatorship – although one wonders how you dictate a voter turn-out of 98.02% if not explained by the will of…

PPC, THE biggest cementitious product company in the southern African region, has identified opportunities to optimise its product months, enhance its logistics footprint and expand its customer base, newly-appointed chief executive Matias Cardarelli said. Writing in the group’s integrated annual report released on Friday, he said they had weathered a challenging operating environment in the year to March 31, 2024, marked by increasing input costs, constrained consumer spending, unreliable power, poor service delivery from Transnet Freight Rail and high interest rates. Despite these challenges, PPC delivered a satisfactory performance, lifting revenue 20.6% to R10.06 billion, driven primarily by a strong performance by PPC’s Zimbabwean operation. Group earnings per share increased to 19 cents, from a 20 cents loss in the prior year. A dividend was declared for the first time…

Brazil’s state-run oil firm Petroleo Brasileiro (Petrobras) has made a non-binding offer to buy a major stake in Galp Energia’s, huge offshore oil discovery in Namibia, Petrobras exploration and production director Sylvia dos Anjos said on Friday. If accepted, the bid would make Petrobras the operator of the Mopane oil and gas field, which has an estimated 10 billion barrels of oil equivalent, Anjos said in her first interview since taking her new role last month. “We are the best deepwater operators,” said Anjos on the sidelines of an oil and gas conference in Sergipe. “If (Galp) don’t choose us, it’s their loss.” Petrobras is seeking opportunities abroad due to “unacceptable” difficulty in getting environmental licences to explore new areas in Brazil, Anjos said. The firm has hit stiff resistance…

Zakhele Mabasa-Mokone has made a name for himself in the industry over the years. The actor has earned widespread acclaim for his portrayal of the beloved and comical taxi driver Skhaleni Mnomezulu on Isibaya. He has starred in the Mzansi Magic telenovela since its inception, while also featuring in productions like Durban Gen, Gangster’s Paradise: Jerusalema, Heartlines and Wild at Heart. The 48-year-old is now relishing his leading role on the new Showmax Original series, One Weeks. Asked about how he felt about reaching this point in his career, he told Independent Media Lifestyle: “I am very happy, especially about this role”. “Working on this show has been different from other projects I’ve done in my career because I was driving the whole storyline, meaning, I had to be more…

Joburg residents, with the Joburg Crises Alliance (JCA), flocked to the Metro Centre in Braamfontein on Saturday and picketed for the removal of City of Joburg mayor Kabelo Gwamanda, and against the electricity surcharge. The JCA is a broad coalition of civic organisations including the Organisation Undoing Tax Abuse (Outa), the Ahmed Kathrada Foundation, the Rivonia Circle, Action for Accountability and Defend our Democracy. Outa CEO Wayne Duvenage told Newzroom Afrika that the city has been in shambles since Gwamanda was elected mayor, with service delivery woes and constant power and water outages. He further called for the mayoral committee and the city manager, Floyd Brink, to be ousted. “He, Gwamanda, must be replaced with someone who has leadership skills and the competence to get the vision of the city…

THE so-called Government of National Unity (GNU) is the enemy of the people, EFF leader Julius Malema has said. Malema said this at the weekend while addressing scores of EFF party members who attended the party’s 11th anniversary in Kimberley, Northern Cape. The EFF leader condemned the ANC for forming a government with the former “oppressor”, saying the EFF will never work with “white supremacists who murdered black people and anti-apartheid activist Chris Hani”. “Comrades, we are going to fight the GNU. The GNU is the enemy of our people. Ramaphosa is the enemy of our people. The ANC sold out the people of South Africa, that is why this GNU must fall. We must fight it everywhere we go. We must tell them we reject the GNU, the ANC…

South Africa’s newly appointed Minister of Defence and Military Veterans, Angie Motshekga, joined the new ambassador of China to South Africa, Wu Peng at an auspicious reception on Friday celebrating the 97th anniversary of the founding of the Chinese People’s Liberation Army. Delegates including the Deputy Minister of Defence and Military Veterans, Bantu Holomisa, the Deputy Minister of Sport, Arts and Culture, Peace Mabe, ANC treasurer-general Dr Gwen Ramokgopa, and former Cabinet minister Lindiwe Sisulu attended the event at the Pretoria-based Embassy of China in South Africa. The ceremony was also addressed by the Defence Attaché of China in South Africa, Major-General Shang Hong. Chief of the SANDF, General Rudzani Maphwanya; chair of the Numolux Group, retired Colonel Hilton Klein; and retired Lieutenant General Barney Hlatshwayo representing South Africa’s military…

Collen Malatji, the ANC Youth League (ANCYL) leader, has proved to be a divisive figure. Instead of representing the views and interests of young people, he has become a rented gun – used to attack political enemies of those who feed him. He and his national executive committee are not a true reflection of the views of young people but rather a product of a flawed process. Since his election, this Malatji, a wannabe mini-Julius Malema, has failed to implement any meaningful policies or initiatives that benefit young people. His leadership has been marked by insults, directed at duly elected ANC leaders, in an attempt to gain popularity among his peers. Malatji’s latest gimmicks are nothing short of an attempt to push his ambition of being the provincial secretary of…

South Africa has again requested the establishment of two panels at a meeting of the Dispute Settlement Body (DSB) of the World Trade Organization (WTO) to examine what, in its view, were unscientific and discriminatory measures placed on citrus imported from the country by the EU. This followed over 20 years of engagements with the EU to find an amicable solution. In a joint statement issued by the the Department of Agriculture, the Department of Trade, Industry and Competition (the dtic) and the Citrus Growers’ Association of Southern Africa (CGA), the government on Friday said the initial requests for the establishment of the panels were made towards the end of last month. “These requests were not accepted by the EU. In line with the WTO Dispute Settlement Understanding, today (July…

There is still a lot of confusion around the taxes on imports from Chinese e-retailers like Shein and Temu. A long-established common law principle is ‘de minimis non curat lex’ commonly known as ‘de minimis’. It translates to ‘the law does not concern itself with trifles’, meaning the law should not get involved in circumstances where what has occurred is extremely trivial. When importing, the de minimis rule applies when you import a product below a certain value (the de minimis value), and consequently don’t need to pay any import tax on the product. De minimis values vary by country.South Africa’s de minimis value is set at zero, meaning you’ll have to pay import duties and VAT on all products imported no matter the value of the product. As with…

The Department of Agriculture has vaccinated 84 655 animals as a preventative measure and strongly recommends all livestock farmers in the entire country to limit animal movement as far as possible. THE Department of Agriculture has raised the alarm on foot-and-mouth Disease (FMD) outbreaks in the Kouga and Kou-kamma Municipalities of the Eastern Cape as cattle on 26 farms have tested positive for the disease. The department has declared a Disease Management Area (DMA) in a further effort to prevent spreading of the foot-and-mouth disease (FMD). Cattle on these positive farms had been vaccinated to decrease the viral load and to control the severity of the clinical signs in especially dairy cattle. Positive farms were placed under quarantine with strict movement control. The boundaries of the DMA would be…

South African shareholders underpinned Orion Minerals’ R44 million share purchase plan, which closed last week, the company said on Friday. The company’s share purchase plan closed on July 23, helping it to raise a total of A$3.6m, which is equivalent to R44m. The shares subscribed to under the scheme will be issued tomorrow. Eligible shareholders were entitled “to apply for parcels of new fully paid ordinary shares from a minimum parcel of A$165 or R2 000 up to a maximum of A$30 000 or R365 000” without incurring brokerage or transaction costs. The shares under Orion’s share purchase plan were issued at an issue price of A$1.5 cents per share that is equivalent to R18. This was the same price that investors in the company paid for the company’s recent…

Local animé fans are in for a treat as a dedicated animé film festival is coming to Mzansi next month. Organised by Gravel Road Distribution Group, the Animé Festival 2024 will see three award-winning animations screened at various locations across the country. Here’s what you can watch: • My Neighbour Totoro will screen on August 8. The film captivates audiences with the tale of Satsuki and her sister Mei, who relocate to a new rural residence alongside their father. They soon discover that the house and nearby woods are full of strange and delightful creatures, including a gigantic but gentle forest spirit called Totoro, who can only be seen by children. The girls are taken on many excursions by Totoro and his companions, one of which involves a trip on…

EMILY in Paris has been a hit with viewers worldwide since it premiered on Netflix in October 2020. It centres around Emily Cooper, played by the ever-in-vogue Lily Collins. As she arrives in the French capital, streamers follow her journey in the “City of Love”, which is full of fashion, food and friendship. Emily’s European adventure also takes her on a whirlwind journey both in her career and love life. The rest of the cast includes Philippine Leroy-Beaulieu, Ashley Park, Lucas Bravo, Camille Razat and Samuel Arnold. They are joined by Bruno Gouery, William Abadie and Lucien Laviscount. Season 4 of Emily in Paris is split into two five-episode parts. Part 1 will premiere on August 15 followed by Part 2 on September 12. The latest offering sees Emily reeling…

The discovery of a secret military base for training illegal Libyan nationals in White River, Mpumalanga, on Friday, raises a red flag on the country’s security intelligence, security expert from the Institute for Security Studies (ISS) Willem Els said. Els said the police only managed to gather intelligence after the suspects had been in the country for four months. “Police have to determine if this was a de facto security training camp, who these people are … where these people are from, who paid them, what are they doing here and who sent them. “The allegations of rape and abuse must also be investigated and we anticipate that they will take samples and build a prima facie case against these guys and charge them,” the expert said. He revealed that…

Mmusi Maimane and his deputy Nobuntu Hlazo-Webster’s poor leadership had robbed Build One South Africa (Bosa), the party they co-founded in 2022, of a chance to participate in the Government of National Unity (GNU). This is the view of Ntokozo Biyela, a former Bosa KwaZulu-Natal leader who has resigned from the party. Biyela was the party’s premier candidate ahead of the general elections. He resigned from all party structures earlier this month, saying that the party had a slim chance of surviving until the next local government elections in 2026. In his resignation letter, which he sent to Maimane and Hlazo-Webster on July 5, Biyela said he had gained invaluable experience and knowledge of the political space since joining the party in May 2022. “I however personally feel that my…

The South African wine industry has long been an area that is dominated by men of a certain age and colour. But not for long, there is a new crop of young, black and ambitious viticulturists on the rise. First-year protégés Lulo Bulo and Nompumelelo Mosaka are two examples of this change hitting Stellenbosch’s wine industry. The pair started their winemaking journey in 2019 when they participated in the Cape Winemakers Guild Development Trust’s inaugural Learner Programme. Bulo and Mosaka took part in the four-day educational trip to the Winelands during the June school holidays. The programme offers black female Grade 11 learners an introduction to viticulture and oenology as a potential university degree and, ultimately, winemaking as a potential career path. According to the Cape Winemakers Guild, the criteria…

Fifteen months of the RSF militia’s war against the Sudanese people, and the associated unprecedented atrocities have so far met inadequate response from the international community. True, the UN Security Council’s Resolution 2736, of June 13, 2024, which demands the RSF end its siege of El-Fasher, is significant. However, it falls short of unequivocally condemning the militia for its brutal crimes. Between April and December 2023, the RSF and its affiliated militias were responsible for the deaths of 10 000 to 15 000 civilians in West Darfur, according to a Panel of Independent Experts assigned by the Security Council. The US State Department determined in December 2023 that the RSF committed war crimes, crimes against humanity, and acts of ethnic cleansing reminiscent of genocide. A bipartisan draft resolution in the…

Nasreddine Nabi has urged the Kaizer Chiefs faithful not to read too much into their defeat to Young Africans yesterday, saying that it was a learning curve. Chiefs were hammered 4-0 by Yanga in the inaugural pre-season Toyota Cup at a sold-out Toyota Stadium in Bloemfontein. And while this was a friendly, some Chiefs supporters were already bemoaning the early decision to bet on Nabi to end the club’s 9-year run without a trophy. But, speaking deep in the bowels of the 2010 World Cup stadium, the Tunisian reminded the Chiefs faithful that they are in a pre-season and rebuilding phase. “It’s a friendly game, please guys!” the Chiefs coach said. “For the people that know football, a friendly game is not important (in terms of results). “Okay, I don’t…

Nedbank is bracing for protracted legal battle with Transnet SOC and the Special Investigations Unit (SIU) over their intention to sue the banking group in a bid to recover R2.7 billion in interest rate swops dating back to the State Capture era in 2015/16. This comes as the bank on Friday stated that the return on equity of 15.5% earned from the swops was market related and amounted to less than R43 million. The SIU and Transnet announced on Friday that they were suing Nedbank for recovery of R2.7bn they claimed were proceeds of transactions from Transnet’s multibillion-rand locomotives procurement project where the bank was allegedly involved in restructuring the interest on the debt used to fund its freight rail and port operations, while the bank would receive fees for…

There are three types of people in this world: those who make things happen, those who watch things happen, and those who wonder what happened.” – Mary Kay Ash used this quote IN THE article below, Nedbank has vowed to defend itself vigorously – the only problem being it was on the scene of the crime. Things are starting to happen: The Banking Ombudsman put R25 735 594.17 back into consumers’ pockets after resolving 8 008 complaints against banks last year about current accounts, personal loans, savings accounts, credit cards and home loans. National director of Public Prosecutions Shamila Bathohi said: “The rule of law in South Africa is on life support at the moment, and it has to be addressed now.” This was said during…

President Cyril Ramaphosa signed into law this week two critical bills amending the Companies Act, seeking to shine a bright light onto often hidden corporate corruption and much less hidden obscene wage gaps. Tragically few media houses bothered to cover this important development for workers, shareholders and the economy. The Companies Amendment Acts were a critical and long-overdue intervention by former Trade, Industry and Competition Minister Ebrahim Patel, on behalf of the ANC-led government, to modernise the Companies Act, to introduce a culture of ownership transparency and wage accountability. Extensive engagements were held on the bills by government, business and labour at the National Economic Development and Labour Council (Nedlac) which, after robust engagements and sober compromises, produced considerable consensus on key issues. Further robust discussions were held during Parliament’s…

Kumba Iron Ore’s Sishen Iron Ore Company Community Development Trust (SIOC) Employee Share Ownership Trust has snapped up shares worth R131.6 million in the company. The company’s SOIC, ESOP and Semela employee share ownership schemes all benefit from dividends paid by Kumba Iron Ore. Last week, Kumba Iron Ore confirmed that the SIOC employee share ownership trust had purchased shares in the company on behalf of employee members. “In compliance with the JSE Limited listings requirements, shareholders are advised that the SIOC Employee Share Ownership Plan Trust has, in accordance with the rules of the scheme, purchased Kumba shares in the open market on behalf of the beneficiaries of the Trust,” the company said on Friday. On July 24, the SIOC trust purchased 174 651 shares in Kumba at a…

Nigeria’s major Dangote oil refinery is reselling cargoes of US and Nigerian crude, four trade sources familiar with the matter said on Friday. Three of the sources said the re-offer was linked to technical problems at the refinery. A Dangote executive, asked about the offers and talk in the market that the refinery is having operational issues affecting the crude distillation unit, said the CDU is in operation. A spokesperson for the refinery denied that Dangote was offering to sell Nigerian crude. The refinery started production in January and will be the largest in Africa and Europe when it reaches full capacity. It could upend what has been a highly lucrative Europe-to-Africa fuel trade and transform Nigeria into an exporter of fuels. Cargoes of Nigerian Escravos and Forcados crude were…

Showmax has released the trailer for its upcoming Afrikaans romcom, Eksie Perfeksie. The move comes after Afrikaans was voted the second sexiest accent in the world by Enjoy Travel earlier this year (after Kiwi), inspiring the creation of more Afrikaans romcoms. Eksie Perfeksie follows the story of André, who impulsively moves in with his girlfriend, Dalene, only to find out she is friends with all her ex-boyfriends. Intimidated by their constant presence, André tries to befriend them but soon discovers that all of Dalene’s past relationships follow the same pattern. The film stars Pietie Beyers (Binnelanders, Die Onderonsie) and Emma van Heyn, who appeared in the 2024 Silwerskerm selection of Gebokste Liefde and Matilda en Matthys. They are joined by singer and renowned hunk Bobby van Jaarsveld (Liefling, Spoorloos) and…

Aimed at celebrating South Africa’s recent government changes and the various accolades of its citizens, a few renowned artists have teamed up to put a new spin on American rock band Toto’s iconic song, Africa. Toto’s Africa has long been one of those songs that ignites a sense of pride and nostalgia when you listen to it. This legendary song brings back memories of former president Nelson Mandela, the Rugby World Cup and the magnificent Kruger National Park. It’s a beautiful, catchy song that encapsulates the spirit of the continent and South Africa. Now, in celebration of South Africa’s 30 years of democracy and the country’s recent achievements including a fourth Rugby World Cup victory, a new Government of National Unity and successes by the Protea national cricket team, Tyla’s…

THE men and women in the City of Cape Town’s safety and security directorate, who paid the ultimate sacrifice, were honoured in a Remembrance Day service at the weekend. The memorial wall on the concourse level at the Civic Centre holds the names of 68 staff members in the city’s safety and security directorate, who died in the line of duty. Thirty-nine names date back to 1907. The latest name to be inscribed was that of Law Enforcement Advancement Plan (Leap) officer, Zanikhaya Kwinana, who was killed when gunmen opened fire on a patrol vehicle in Nyanga in August last year. In 2022, the names of 29 staff members who succumbed to Covid-19 were added to the wall. Mayor Geordin Hill-Lewis and safety and security mayco member JP Smith led…

Tshwane mayor Cilliers Brink wants to meet with council speaker Mncedi Ndzwanana to deliberate on the importance of enforcing council rules in a bid to avoid a repeat of Thursday’s chaotic meeting. This comes after the meeting collapsed and was called off by Ndzwanana after it descended into chaos over Brink’s comment likening the ANC in power to “a hard-drinking person in charge of a bottle store”. During the meeting, the ANC wanted Brink to withdraw and apologise for the statement he made in a television interview last week. Brink, however, refused to succumb to pressure to do so, saying: “I can only withdraw something that I have said in this meeting. I cannot withdraw or debate things that I said outside of the council meeting. There is no basis…

The cancellation of the star-studded Champions has hit viewers with a wave of disappointment after Mzansi Magic confirmed that it would not be renewed for another season months after its explosive premiere. The show features the talented Jo-anne Reynecke, Sello Maake ka-Ncube, Tumisho Masha, Kwenzo Ngcobo, Kgomotso Christopher, Keitu Sankola, Thato Dithebe, Minki Malatji, Rethabile Mohapi, and Thabo Malema. Mzansi Magic said that the last episode will broadcast on January 31 next year, with production for the season having concluded last month. “First, to our cast, Tshedza Pictures, sponsors, and advertisers, thank you for your ongoing support for Champions and your efforts in entertaining our Mzansi Magic viewers,” said Shirley Adonisi, director of Local Entertainment Channels. “Mzansi Magic plays a pivotal role in entertaining viewers during prime-time, and we continue…

Nizaam Carr has had to rein himself in on the pitch in recent years, particularly at the Blue Bulls, where he often has to do the hard yards as an openside flank. But in Saturday’s 50-34 victory over his old Western Province team, the 33-year-old loose forward rolled back the years for a glorious half an hour in the second half to play his part in an astounding comeback from the Pretoria side, who moved to the top of the Currie Cup log with 18 points. The crowd at Loftus Versfeld were left stunned by an error-filled first half as WP roared into a 27-3 lead in just 31 minutes, and it looked like the Bulls were going to get a hiding from their fierce rivals. Yet it was one…