Sommaire pour 2024-05-31 de Cape Times

■ In this week's Personal Finance Saturday Page, we look at how SA is on the precipice of being declared cybercrime capital of Africa. ■ We also look at the Pension Funds Adjudicator’s recent determination, where Muvhango Lukhaimane, ruled that the fund must re-allocate death benefit. ■ On Word on Wealth, Martin Hesse looks at the investment lessons from guru Warren Buffett. ■ Have you added alternatives to your retirement journey? is the question we explore in this issue. ■ For all your money matters, scan the QR code.…

ZEDA LIMITED, the integrated mobility solutions provider, yesterday declared a 50 cents half-year dividend despite a 12.5% decline in headline earnings per share (Heps) for the year ended March 31 to 165.5c. Thobeka Ntshiza, Zeda’s chief financial officer, said the JSE-listed operator of the globally recognised Avis and Budget brand had created as much as R1.1 billion in equity since unbundling from Barloworld, helping the company to an interim dividend for the period to end March 2024. Shares in the company were, however, marginally lower by 0.34% at R11.90. “Since unbundling from Barloworld on December 13, 2022, the company has created R1.1bn in equity. It is this strength that propelled the board to approve the interim dividend,” said Ntshiza. Return on equity in the company currently stands at…

DELTA Property Fund, a black-owned real estate investment trust (Reit), in its results for the financial year ended February 29, 2024, gained traction in reducing its debt burden and retuning to profit from opera- tions. Profit from operations increased significantly from a loss of R226.1 million in the prior financial year to R399.2m for the year under review. Delta’s SA Reit Funds from operations per share increased by 68.5% to 18.7 cents from 11.1c in the prior financial year. The board said it had resolved not to declare a dividend for the year under review. CEO Bongi Masinga said: “Notwithstanding stagnant economic growth and a higher-for-longer interest rate environment, our consistent focus on cost optimisation, debt reduction, lease renewals and asset recycling continued to gain traction, with a…

AFRICANBANK Group turned around last year’s small interim taxed loss into a profit in the six months to March 31 and it is on track for a full-year profit, CFO Anbann Chetti said yesterday. Net taxed profit came to R2.3 million compared with the R43m net loss reported at the same time last year. Diversification and scaling initiatives saw 5.7 million customers serviced across all its platforms, a 38% increase. Impairments fell 40%. Interviewed at the release of the results, Chetti said the bank might list over the medium term, but currently initiatives involving the bank’s shares were aimed at “giving the bank back to its people, in line with the aims of its founders”. Included in these initiatives was the ceding of 10% of the shares to…

VOTE COUNTING in Nelson Mandela Bay had to be moved at three sites due to a shooting incident, the Electoral Commission of South Africa (IEC) said. Reflecting on two days of special voting and the voting on Wednesday, provincial electoral officer Kayakazi Magudumana said a number of protests and incidents of taxi violence resulted in hundreds of voting stations not opening on time. During the special vote on Monday and Tuesday, 302 stations did not open, and in Port St John only 81 out of 134 voting stations opened. “That’s a big number, we’ve never had a situation where in one municipality the majority of voting stations do not open. So, I can safely say this was the worst, looking at what has happened in the few elections that we’ve…

My name is Zara-lee Petersen. I’m an 18-year-old South African, born and raised in Cape Town. I’m originally from Mitchells Plain, but currently reside in Athlone. I felt a mixture of responsibility, optimism and eagerness as I walked up to the polling station for the first time. This was a momentous occasion, a concrete step towards adulthood and a vital chance to shape South Africa’s destiny. We had been overwhelmed with political campaigns from all directions in the weeks leading up to this day; there was a continuous buzz from community rallies, social media marketing and billboards. The pledges to bring about change and solve the nation’s pervasive corruption and economic difficulties were what most stood out to me. The status of the South African economy is awful. According to…

The Familiar Leigh Bardugo Loot.co.za (R255) Viking Leigh Bardugo’s latest novel, The Familiar, is a blend of magic, history and political intrigue that takes readers back to 16th century Spain. The story revolves around Luzia, a young maid with magical abilities who competes to serve the king. Under the guidance of the enigmatic and immortal Guillén, Luzia must navigate the treacherous world of the royal court, uncovering dark secrets and hidden agendas along the way. From the moment she steps into the palace, Luzia’s life becomes a whirlwind of power struggles and deceit. From the beginning her journey is fraught with challenges that test her resolve and magical skills. Her relationship with Guillén, who serves as mentor and protector, adds complexity to the narrative. Guillén's mysterious past and immortal nature…

Although published in 2017, The Park by Gail Schimmel still holds its authenticity, and the issues portrayed in the book are still relevant today. Drawing on her legal background, Schimmel adeptly addresses complex themes and well-researched legal and child-protection issues, adding credibility to her story. Those familiar with her writing will know her novels are set in the leafy suburbs of Johannesburg. The Park is no different. The novel is about loyalty, acceptance, identity, and friendship. Schimmel introduces each new chapter with quotes about being a good mother – such as “Good mothers don’t give up…” – and we later see how these pieces fit together to solve the mystery. The main protagonist is Rebecca, who soon befriends Rose and Lillith in the park where their daughters become inseparable. Play…

The Proteas and ICC Cricket World Cups are not good bedfellows. The ‘curse’ at World Cups began right at the start in 1992, when South Africa surprised the cricket fraternity by going all the way to the semi-finals. But then rain intervened at the Sydney Cricket Ground, and a ridiculous target of 22 runs off one ball flashed up on the screen against England – reduced from 22 off 13 – and Kepler Wessels’ team were knocked out. The 1999 edition in the UK resulted in more drama, as the Proteas tied their semi-final against Australia after Allan Donald was run out as he dropped his bat in trying to clinch the winning single alongside batting partner Lance Klusener – with the Aussies advancing to the final. Another disaster followed…

Tehran: Iran has ruled out the possibility of a sabotage explosion leading to the helicopter crash that resulted in the deaths of Iranian President Ebrahim Raisi and his entourage, an army report said. No sign of an act of electronic warfare was detected on the crashed helicopter, it said, and weather conditions on the way back to Tabriz, the capital of East Azerbaijan province, would need further investigation. During the flight and until 69 seconds before the crash, contact had been maintained with the flight crew, it said. Yesterday, Iran began the registration of presidential candidates ahead of a snap vote next month to replace Raisi. | Reuters and IANS…

Mexico’s campaign season came to a bloody end as a gunman shot dead an aspiring mayor at a rally on Wednesday, days before the country is expected to elect its first woman president on Sunday. His murder brings the number of candidates who have been killed to 23 during what has been a particularly violent electoral process in the country, according to an official count. Alfredo Cabrera, a mayoral candidate for an opposition coalition, was gunned down in the southern state of Guerrero, causing chaos and panic. Cabrera’s murder was captured on camera, with the footage showing him smiling and flanked by fans before he was shot several times. The state prosecutor’s office said “the alleged assailant was killed at the scene”. Three people were also injured and two others…

Four people have been arrested and more than 100 internet servers taken down or disrupted in an internationally co-ordinated operation targeting the cyber infrastructure used for malware, the EU’s Europol law-enforcement agency said yesterday. Carried out between May 27 and 29, Europol called it “the largest operation against botnets, which play a role in the deployment of ransomware”. The sting was initiated and led by France, Germany and the Netherlands. It also involved Britain, the US and Ukraine, Europol said. The arrests were made in Armenia and Ukraine, and more than 2 000 domains were now under the control of law enforcement. Malware allows cybercriminals to secretly connect to peoples’ computers. One of the main suspects earned at least e69 million (R1.3 billion) in cryptocurrency by renting out criminal infrastructure…

THE National Treasury weighed in on claims that budget cuts were at the centre of the Electoral Commission of South Africa’s (IEC) woes on voting day, saying “measures were taken to specifically ensure that requirements for the elections were adequately resourced”. “The 2024 Budget review outlined these measures, including reversing spending reductions to the IEC, thus making an additional R250 million available compared to the 2023 MTBPS estimates, allowing the IEC to retain its accumulated surpluses of R1.5 billion; and new additional allocations of R350 million for the security of the election process. “As part of the 2024 Budget process, the National Treasury continuously engaged with the IEC on its funding requirements for the 2024 national and provincial elections. The national Treasury’s engagements with the IEC confirmed that the…

EMBATTLED Knysna municipal manager Ombali Sebola has failed in his court bid to remain in the senior position. Sebola appealed against the court ruling which declared his appointment as municipal manager null and void after he was selected out of three applicants who had applied for the position. Judge Mas-Udah Pangarker said in her latest ruling that in a supporting affidavit by Sebola’s long-standing attorney in this matter, it was pointed out that in the main application, Sebola had “accepted that he was unlawfully appointed by the Knysna Municipal Council (and) had thus accepted that his appointment was unlawful”. “I must agree that the impression gained is that Sebola wishes to buy more time by occupying the position of municipal manager and to hinder the advertisement process and hence, the…

Civil society organisation SA Harvest says that the newly elected government needs to address the hunger affecting millions of South Africans. This comes after research done by SA Harvest indicated that 27% of children under the age of five face malnutrition diseases due to chronic nutritional deprivation, and 20 million South Africans face severe food insecurity. Other civil society groups agree that ensuring South Africans do not go hungry must be prioritised. Alan Browde, CEO and founder of SA Harvest, said statistics show that more than 15 000 children are diagnosed with severe acute malnutrition annually, with approximately 1 000 succumbing directly to its effects. “The elections present an opportunity for every South African to demand accountability and action on hunger. It is devastating to witness the silent…

In a Thousand Different Ways Cecelia Ahern Loot.co.za (R328) Jonathan Ball WITH more than 30 million book sales to her credit, it’s safe to say that Cecelia Ahern hits the spot when it comes to subject matter. Her 19th book, In a Thousand Different Ways, is already adding to that number and her appearances at the Franschhoek Literary Festival were packed to capacity. At the age of 21 her first book, PS I Love You (2004), went on to become a major movie with Hilary Swank and more recently a series, and the sequel, Postscript, has had huge success. She is a woman who lives to write, with an imagination and passion that touches millions of hearts. Add to her talents that of scriptwriter, and you’ve got the picture.…

Manufactured or imaginary threats persist as if to create fertile ground for destabilisation WITH the provisional election results popping up on our television screens and the announcement of the final results expected on Sunday after a resolution of disputes and complaints by candidates, I am brave to reflect on my excitement and disappointment about the elections. The Constitution provides that one of the values on which the sovereign and democratic state of the Republic of South Africa is founded is “universal adult suffrage” and “a national common voters roll”. It guarantees that “every adult citizen has the right to vote in elections, and to do so in secret”. South Africans have always taken as a given that “the universality of the franchise is important not only for nationhood and democracy.…

Niamey: A Nigerian “bandit” leader wanted for the kidnapping and murder of civilians has been arrested along with 65 of his men in southern Niger, local authorities said. The border between Nigeria and Niger has for more than a decade been a hideout for armed groups known locally as bandits who abduct civilians for ransom and rustle cattle. “After several days of tailing him, the men of our anti-terrorist operation finally caught the infamous (Kachalla) Baleri and some of his men,” regional governor Issoufou Mamane said yesterday. The men had been arrested during a meeting to plan attacks against the positions of the defence and security forces, officials said. | AFP…

Srinagar: At least 21 people were killed and more than 50 injured when the bus they were travelling in rolled down a deep gorge in Indian-administered Kashmir yesterday, police said. The driver of the vehicle ferrying Hindu pilgrims from Haryana state to a shrine in Akhnoor, 300km south of Srinagar, lost control along a serpentine mountain road and the vehicle tumbled into the ravine below. It was not clear whether the driver was among the fatalities. The dead included three children, the youngest of them 9 years old. Rescue teams rushed to the spot and took 54 injured people to a hospital in the city of Jammu for emergency treatment. | AFP…

Animals collapsed, people jumped on water tankers with buckets amid shortages and government employees changed their work hours as blistering summer heat kept its grip on north India yesterday. Although Thursday’s readings were marginally lower in Delhi than the previous day when one area recorded an all-time high of 52.9°C, the region still saw temperatures touching 47°C. Delhi, which has a population of 20 million, recorded its first heat-related death on Wednesday, with a 40-year old labourer dying of heatstroke, local media reported. Authorities said they are investigating if the 52.9°C reading in the Mungeshpur neighbourhood on Wednesday was caused by a sensor error at the local weather station. Television images showed people chasing water tankers or climbing on top of them in parts of the city to fill containers…

Rafah residents reported intense artillery shelling and gunfire yesterday in Gaza’s far-southern city after Israel said it had seized a strategic corridor on the Palestinian territory’s border with Egypt. The Israeli military launched its incursion into Rafah in early May despite international objections over the fate of Palestinian civilians shelter- ing there. A strike over the weekend that started a fire and killed dozens in a displacement camp drew a wave of fresh condemnation, including a social media campaign with the slogan “All eyes on Rafah”, that has been shared by tens of millions of users. Israel, which has vowed to destroy Hamas after the Palestinian militant group attacked southern Israel on October 7, said its forces had taken over the 14km Philadelphi corridor on the Gaza-Egypt border, which it…

EMIRA Property Fund paid out a 55.28 cents per share final dividend for the six months to March 31, compared with 30.35c for the three months to March 31, 2023, following operational results that included successful value unlock from investments, a strong balance sheet and strengthened liquidity from capital recycling. Distributable earnings for the year came to R622.1 million compared with R55.8m for the nine months to March 31. The total dividend was 117.1c, compared with 96.78c for the nine months which, while strictly not comparable, represents a 20.9% increase. “Both our SA and US portfolios delivered pleasing operational performances, notwithstanding local and global challenges. “Our leasing success and low SA commercial vacancies – down from 4.7% to 4.1% over the year – and high and stable residential…

AS THE counting of votes neared the 50% mark last night, a great deal of jostling for coalition possibilities had already begun among political parties contesting the governing of South Africa. About 26 million South Africans were registered to vote in Wednesday’s elections, with 52 parties contesting, while scores of others came out to make their mark during special votes on Monday and Tuesday. As the results started trickling in at the National Results Operations Centre (Roc) in Midrand, there was a push for the uMkhonto weSizwe Party (MKP) to play open cards on who they would be getting into bed with after the results announcement. The ANC breakaway party, led by former president Jacob Zuma, seemed to be leaning towards kingmaker after the Electoral Commission of South Africa (IEC)…

South African ultramarathon runner Nontu Mgabhi has defied the odds to become one of only two finishers in the gruelling 520km The Track Namibia race across scorching desert and unforgiving terrain. Through her latest expedition, Mgabhi has raised enough money to provide schoolchildren from Somotha, Sekusile, Khiphinkunzi and KwaMboma primary schools in KwaZulu-Natal with 600 pairs of school shoes. Spanning nine stages over 10 days, The Track Namibia pushes participants to their physical and mental limits. Despite these extreme conditions, Mgabhi remained motivated by a greater purpose. “Running for a good cause has given my adventures greater meaning,” she explained. “My initiative, Go Beyond for a Child, drives me to turn pain into a creative offering … I remind myself that I am privileged to do this. Running is not…

The South African Guide to Gluten-Free Baking Zorah Booley Samaai Loot.co.za (R270) Penguin Allergies and food intolerances are becoming more and more common, “The South African Guide to Gluten-Free Baking” will make your time in the kitchen a little sweeter. This cookbook will teach you how to seamlessly pivot from “normal” baking to gluten-free baking, so you can enjoy your favourite baked goods and sweet treats without the guilt – or any unpleasant side effects. As a go-to guide for baking all things gluten-free, the book includes a section on how to stock your pantry for gluten-free baking (including a breakdown of the best gluten-free flours to use, and which combinations work best for different recipes), what ingredients are safe to use for a gluten-free diet, as well as the…

The Fraud Zadie Smith Loot.co.za (R309) Penguin Random House ZADIE Smith is clever enough to make anything sound plausible, but the most outrageous elements of her new novel The Fraud are actually true. In the 1860s, a butcher with a shadowy past claimed that he was Sir Roger Tichborne, the presumed-dead son of Lady Tichborne and the heir to a vast fortune. The evidence against the butcher seemed overwhelming: He could not remember his supposed classmates, could not recall basic facts of a gentleman’s education and could not even speak French, Tichborne’s first language. More damning, details about his “missing years” at sea were shown to be false. And yet for many thousands of devoted fans, the very audaciousness of his claim argued in its favour. Two bizarre court cases…

WHEN we grew up, it was said that our behaviour was a true reflection of our background or our home. In politics, our behaviour, especially taken to the extreme, is a true reflection of what kind of government we are going to be. The DA is a master race, a supremacist party in a smart form. With the DA, “SA” stands for “Supreme Aryans”, or “Smart Aryans”, striving towards Smart Apartheid. It has been trying hard to hide its true self. Now it is out in the open (“umqol’uphandle”). It says it is diverse and the best ruling party, yet it cannot properly address the challenge of housing because some areas in Cape Town are reserved for rich, white people. If not so, why does it avoid spatial development for…

LONDON: A 9-year-old girl is fighting for her life in hospital after being shot during a drive-by shooting on a London restaurant where she was eating with her family, police said yesterday. The girl was hit after a gunman on a motorbike opened fire on three men sitting outside the restaurant in the Hackney area of north London on Wednesday evening. She had been sitting inside with her family. The three men, aged 26, 37, and 42, who police said were not believed to know the critically injured girl, also suffered gunshot wounds but are stable in hospital. Police said the stolen motorbike used in the incident was recovered nearby. | Reuters…

Paris: More than 300 politicians, health experts and celebrities yesterday called for US pharma-ceutical giant Gilead to allow cheap, generic versions of a promising new HIV drug to be produced so it can reach people in developing countries most affected by the deadly disease. The drug Lenacapavir could be a “real game-changer” in the fight against HIV, according to an open letter to Gilead CEO Daniel O’Day signed by a range of former world leaders, Aids groups, activists, actors and others. Gilead said it was in talks with government about how to expand access to the drug. Lenacapavir, approved for use in the US and EU in 2022, only needs to be injected twice a year. | AFP…

A Hong Kong court found 14 people guilty of subversion yesterday in the biggest case against pro-democracy campaigners since China imposed a national security law to crush dissent. The verdicts cap a long-running trial in which 47 people were charged for organising an unofficial election in 2020, activities the court ruled were a threat to the government. Fourteen people were found guilty yesterday. They, along with 31 others who pleaded guilty, could face life in jail. Two were found not guilty. “In our view... that would create a constitutional crisis for Hong Kong,” the court said, summarising the reasons for the verdict by three judges. Britain, Australia and the EU condemned the verdicts with language that echoed the frequent criticism from Western governments in recent years over China’s crackdown on…

ISLAMABAD: Pakistan’s jailed former prime minister Imran Khan said yesterday that February’s national election was stolen from his party, describing it as the “biggest robbery of a public mandate”. Khan, speaking in the Supreme Court via video link from Adiala Jail in the garrison city of Rawalpindi, said he was being held in solitary confinement. His remarks were the first to be heard in open court since he was jailed in August. The Election Commission has denied the election was rigged. Khan, 71, was jailed on corruption charges. He is also fighting dozens of other cases. He and his Pakistan Tehreek-e-Insaf Party say the charges were aimed at thwarting his return to power. | Reuters…