Sommaire pour 2024-07-18 de Cape Times

Zimbabwe’s government will stick to what it promised when it launched a new currency in April by ensuring it remains fully backed by reserves, the central bank governor said yesterday, adding that it was the only way to build trust. The new Zimbabwe Gold currency (ZiG) is the country’s sixth attempt at a local currency in 15 years after a bout of hyperinflation under its former leader Robert Mugabe. The last currency, the Zimdollar, fell 80% in the three months before it was scrapped, and the authorities face a battle to convince a sceptical population to stop transacting in foreign currencies. “Confidence can only come with us walking the talk,” governor John Mushayavanhu said, referring to the central bank’s commitment not to print money to finance government spending, which drove…

The fact that almost 60% of retailers in South Africa sampled in the Ipsos research released last week were selling cigarettes below the tax-compliant price point of R25.05 for a pack of 20 was devastating news for the legal South African tobacco industry. This is according to the South Africa Tobacco Transformation Alliance (Satta) which has disputed the recent Ipsos market research on cigarette pricing, and its implications for the legal producers of cigarettes. This comes after Ipsos last week released a report indicating that close to 60% of sampled South African stores were selling illicit tobacco products, with prices as low as R5 for a pack of 20 cigarettes – intensifying the ongoing price war among illicit cigarette manufacturers. Satta spokesperson Francois van der Merwe said the research provided…

Getting a business off the ground, especially as a young entrepreneur, often requires you to wear many hats. With many small businesses being run by solopreneurs in the first few months, SME owners often fulfil multiple roles from accounting and office admin to operations management and stock control. During this formative time, when budgets are more than likely to be lean, business support services can be a real game-changer. “Using outsourced business support services is one of the most effective ways of getting your needs met as a business owner, while keeping costs as low as possible and optimising your valuable time. Leaning on extra support doesn’t mean you’re not capable of performing everyday tasks, it simply allows you to buy the time and headspace you need to concentrate on…

THE Zeitz Museum of Contemporary Art Africa (Zeitz MOCAA) Centre for Art Education is launching its first children’s book series, The Stories that Ran Away, this weekend. The series of four wonderfully written and beautifully illustrated children’s books marks another first for the Zeitz MOCAA Centre for Art Education in its mission to create a museum that is also a place for children. The four stories in the series – The Tale of Mouse and the Stories that Ran Away, First Light, Nya Nya Bulembu, and Khvum and the Crocodile Woman – are written by Meridian Berndt and illustrated by artists Jax Lamb, Meridian Berndt, Jill Joubert and designer Mandy Wamono. The Zeitz MOCAA series of children’s picture books are Berndt’s first published works. “The Tale of Mouse and the…

NOT giving up the fight, former judge Nkola Motata, impeached earlier, has turned to the Constitutional Court for direct access to have the National Assembly resolution to axe him set aside. “For as long as Judge Nkola Motata is entitled to be called ‘Judge Motata’, the judiciary continues to be stained in the eyes of the public,” three judges of the Supreme Court of Appeal said last year in finding that his conduct more than 16 years ago – when he ploughed his gold Jaguar through the wall of a house in Johannesburg North – was of such gravity as to warrant his removal from office. But Motata, 77, now retired, is taking his plight to the apex court, where he also wants the decision by President Cyril Ramaphosa to…

THOUGH Pitso Mosimane believes Mamelodi Sundowns remain the team to beat in the coming Premiership season, the former Brazilians coach expects Orlando Pirates to run the record champions much closer this time around. And he foresees Kaizer Chiefs giving a better account of themselves than in recent campaigns. “It’s obvious that the Sundowns gap is yet to be closed,” Mosimane said yesterday during his visit to Curro Academy Pretoria in East Lynne for his Pitso Mosimane Soccer Schools (PMSS) programme. “But when Orlando Pirates manages to win knockout trophies like they did, and beating Sundowns in the finals for that matter, it tells you that there’s a chance they can challenge.” The fact that Sundowns are yet to announce who will take over the reins after the departure of…

HE has been a bystander so far in this international season, but Lukhanyo Am is licking his lips at what he has seen of the attacking nuances that Tony Brown is introducing to the Springboks. The outside centre last played for the Boks against Argentina in August last year, and makes his comeback from a series of injuries in Saturday’s encounter with Portugal in Bloemfontein. Am will partner his old Sharks teammate André Esterhuizen in the midfield, and he is pumped up to show that he still has what it takes on the international stage, and that he is ideal for the approach of attack coach Brown. “The Boks are going in the right direction. We have always been aware of the need to evolve because the game keeps changing,”…

The list of potential winners of this week’s British Open at Royal Troon is a long one as Rory McIlroy begins his latest bid to end a decade-long Major title drought. McIlroy’s misery continued in last month’s US Open, where he agonisingly finished second – one shot behind American Bryson DeChambeau – after bogeying three of his last four holes. The pain of that loss took McIlroy a few days to process, but – as he prepares for today’s opening round – he is feeling no added pressure in his quest to claim a fifth career Major. “I know that I’m in a good spot,” the Northern Irish world No 2 told reporters on Tuesday after playing his first practice round of the week. “If I think about 2015 through…

Ascendis Health, the health products and medical devices company being delisted amid strong criticism from some shareholders, said yesterday that the high court had set aside a Takeover Regulation Panel (TRP) ruling about alleged contraventions of takeover provisions. Last month the TRP, following complaints from some shareholders, issued a ruling in terms of which the takeover consortium headed by Ascendis CEO Carl Neethling had been found to have contravened certain provisions of the Takeover Provisions Regulations. At the time, Ascendis and the consortium, which is delisting Ascendis through an offer to minority shareholders, disagreed with the TRP’s findings and said they were assessing their legal options. Ascendis directors said yesterday that it and the consortium subsequently made an application to the high court on an urgent basis to review and…

The National Health Insurance (NHI) Act could not garner the full support of members of the National Council of Provinces (NCOP) yesterday, as it was largely criticised as not being the silver bullet to solving corruption, poor management, access to hospitals and the basics of the health care system. This came as Health Minister Dr Aaron Motsoaledi argued that societal imbalances favoured the rich. Motsoaledi recently said the private health sector was subsidised for up to R70 billion a year through government spending on medical schemes for its workforce, which shored up the sector. Arguing for the phased implementation of the NHI Bill, which was signed into law in May, Motsoaledi yesterday told the NCOP hybrid debate that the R62.2bn budget tabled by his department would go into levelling the…

SHOPPING activity has remained the hope for economic growth in the second quarter of 2024 as retail sales continued to accelerate in May after mining and manufacturing production failed to grow in the same month. Data from Statistics South Africa (Stats SA) yesterday showed that retail trade sales rose by 0.8% year-on-year in May, up from a 0.7% increase in April, mainly driven by general dealers. Stats SA’s deputy director for distributive trade statistics, Raquel Floris, said six of the seven retail groups registered a rise in sales, and general data, which includes supermarkets, drove much of the upward momentum, rising by 1.7% year-on-year. Floris said sales rebounded for food, beverages and tobacco, and hardware, paint and glass. In contrast, retail sales slowed for pharmaceuticals and medical goods, household furniture,…

Yugrow, a South African female-led business, is taking advantage of artificial intelligence (AI) to expand its network globally, helping organisations close the female leadership gap. Co-founded by Kele Boakgomo and Yolanda Nobanda, Yugrow is a behaviour tech platform tailored for women, promoting growth through personalised micro-actions, a robust support network, and intelligent coaching featuring seasoned female executives. The company boasts clients such as Accenture, Vodacom and Rand Mutual Assurance. This home-grown tech start-up already supports women across Brazil, Egypt, Kazakhstan, Turkey, the UK and South Africa. Boakgomo said Yugrow is seeking to expand its reach into Asia to address the region’s unique societal and cultural challenges. “With many countries in Asia being considered emerging markets, including China, India, Indonesia, Korea, Malaysia, the Philippines, Taiwan and Thailand, we feel that we…

Under the theme “Common Ground” which explores the necessary conditions for social coherence in times of economic, ecological and political turmoil, the inaugural HEAT Winter Arts Festival connects galleries, artists, performers, venues, collectors and theatre practitioners during Cape Town’s cold month of July. The festival in the city centre presents 14 art exhibitions alongside a lineup of jazz, opera and theatre performances, and Kizomba-dance programming. Spier Arts Trust and House Union Block have curated two compelling exhibitions for the festival, highlighting current and former members of the Creative Block programme - Homecoming at HUB Gallery and Unfiltered at Sisonke Gallery. The Creative Block programme, which invites select artists to create individual works on a small blank block to be exhibited together in a rich and striking expression of contemporary South…

400g chicken breast fillets 375g easy-to-cook bright & crunchy stir-fry mix 375g crisp and crunchy stir-fry mix 250g spinach & cauliflower noodles 250g fresh egg noodles 100g sweet and sour stir-fry sauce 15ml + 10ml olive oil 5ml ginger, crushed 2 garlic cloves, crushed salt and pepper In a wok or large-based saucepan, heat 15ml olive oil on a medium-high heat. Add the chicken breasts and brown for two minutes, then remove from the wok or saucepan. Add the remaining olive oil and fry the garlic, ginger and vegetables for 5-10 minutes. Add the noodles and the browned chicken to the pan, along with the stir-fry sauce, and cook for an extra 3-5 minutes or until the noodles are cooked. Season to taste, garnish with fresh coriander leaves and serve.…

Nama Xaba has had to walk a tough road in senior rugby. Having moved from KwaZulu-Natal, where he matriculated from Glenwood High as the head boy and first-team rugby captain, Xaba made his name in the Varsity Cup for UCT, and was soon chosen by Western Province and the Stormers. But injuries have limited his playing time in the Cape over the past few years, and he decided to make a fresh start at the Bulls in Pretoria. It’s not only a change of scenery that the talented openside flank hopes will reignite his career, but also a difference in his approach to the game. “I’m putting my best foot forward in the new environment. The reason why I came here is to see if I can go further with…

ENGLAND captain Ben Stokes believes “phenomenal” Chris Woakes can lead his team’s bowling attack as they start life without James Anderson as the new-ball spearhead. Anderson retired from international duty following an innings and 114-run rout of the West Indies in the first Test at Lord’s last week. The 41-year-old took 704 Test wickets – the most by any fast bowler in the format’s history – during an England record 188 matches. With Stuart Broad having retired after last year’s Ashes series against Australia, it means England are now without the pair’s combined 1 308 Test wickets as they head into the second Test at Trent Bridge today. The match will also be the first time since 2012 that England have played a home Test without either Anderson or…

Finance Minister Enoch Godongwana yesterday said National Treasury wanted to trim the Budget deficit to 3.4% of gross domestic product (GDP), down from the current 4.9%, by the end of the 2026/27 fiscal year. However, last year’s National Budget indicated that Treasury had set itself the target of narrowing this ratio to 3.3% by the end of the 2024 Medium-Term Expenditure Framework – or 2026/27 – in a bid to address the unsustainably high national debt burden above R5 trillion. Although the target for trimming the Budget deficit seems to have shifted somewhat, during National Treasury’s Budget vote in Parliament yesterday, Godongwana said the outcomes of the most recent financial year – the 2023/24 financial year – suggested that Treasury was “on-track to meet these objectives”. “Fiscal deficits rose persistently…

In recent years, inflation has surged across many economies, significantly impacting the food and consumer sector. The effects are particularly pronounced in the coffee industry, where climate change, supply chain disruptions, and inflationary pressures are driving prices to unprecedented levels. Coffee has been significantly affected by adverse climate conditions. Heavy rainfall in Brazil and drought in Vietnam have disrupted production, leading to sharp increases in coffee prices. The International Coffee Organisation reported that the composite indicator price reached a 13-year high in April, up 16.4% from March, averaging 216.89 US cents per pound. Brazil, the world’s largest coffee producer, is facing price increases due to heavy rainfall, which will likely affect the country’s 2024/25 supply. Vietnam, the second-largest coffee producer, is also experiencing supply difficulties due to poor harvests in…

The Human Sciences Research Council (HSRC) has found that more than two-thirds of South African agribusinesses implemented innovative activities during 2019 to 2021 despite the disruptions caused by the Covid-19 pandemic and other challenges. The council’s Agricultural Business Innovation Survey (2019–2021), released yesterday, showed that 63.6% of agribusinesses had process innovations, while 38.5% had product innovations. The survey, which covered animal and crop farming, forestry, and fisheries, aimed to measure the extent to which commercial agribusinesses introduced new or improved products and business processes. According to the HSRC’s Dr Yasser Buchana, who led the survey, these results demonstrated that agricultural businesses had shown remarkable resilience, adapting and innovating their way out of the crisis. “While there is still room for improvement compared to other countries in the Global North, with…

It was on March 28, 1995 that President Nelson Mandela made his opening address at the Small Business Conference and decried the lack of co-ordination and the fragmentation in the small business sector. His exact words were: “There are moments poised between the dissolution of the old order and the establishment of the new at which change coursing through our society becomes sharply visible. Gathered at this impressive small business conference are representatives of a sector which, until now, has been fragmented and therefore unable to tap into our society’s potential for enterprise.” In 2014, 19 years after Mandela’s speech, the Small Business Department was established to support the development of micro, small and medium sized businesses, including co-operatives. Ten years on, through its agencies of Small Enterprise Development Agency…

Local theatregoers are in for a treat when Sue and Caroline’s Pick of the Fringe comes to Cape Town hot off the National Arts Festival (NAF) in Makhanda. The Drama Factory and Observatory-based Theatre Arts are presenting two shows that were performed at this year’s festival. “When like-minded independent theatre producers come together, good things happen,” said Sue Diepeveen, founder of The Drama Factory. “Thanks to conversations with Caroline Calburn of Theatre Arts, we are delighted to bring you the comedy-drama Monika, it's me and the mischievous The Agents, under the banner of Sue and Caroline’s Pick of the Fringe. Monika, it’s me was an absolute highlight of the festival for me,” said Diepeveen. “I saw The Agents last year at NAF and I laughed so much I nearly fell…

“YOU’VE robbed not only a boy from the street, like you. You robbed him of his dream, you robbed us of so much that he wanted to do, wanted to give, still wanted to be.” These were the words of the mother of promising Kaizer Chiefs Football Club soccer star Luke Fleurs, killed in a car hijacking earlier this year, to the men who allegedly took her son’s life. Fleurs, 24, was shot and killed at a garage in Honeydew, Johannesburg on April 3, before the suspects drove off with his red VW Golf 8 GTI. The incident made headlines around the world, as players and soccer legends, including Benni McCarthy and Lionel Messi, extended their condolences to the family. A specialist team was appointed to investigate the case, which…

ECUADOR’S Richard Carapaz won stage 17 of the Tour de France after the remnants of a breakaway finished ahead of the main pretenders in the High Alps yesterday. Education First rider Carapaz dropped Simon Yates and soloed the final 10km to win his first Tour de France stage after finishing third overall in 2021. The former Giro d’Italia champion, who won the Tokyo Olympics road race, also wore the overall leader’s yellow jersey after his efforts on the second stage to Bologna. “That was a big day for me,” Carapaz said. “I suffered, but I put a cross on an objective. “How special it feels, I owe so much to my team,” he said of the American Education First team who will be delighted with their €2 million-a-year new signing.…

RWANDA-born goalkeeper Fiacre Ntwari has bid farewell to his club TS Galaxy, heightening reports of his imminent signing with Soweto giants Kaizer Chiefs. The 24-year-old shot-stopper is said to be on the verge of joining Amakhosi after spending just one season with The Rockets. Ntwari featured 24 times for Galaxy last season in all competitions, maintaining nine clean sheets and helping the side finish sixth on the DStv Premiership standings. He has since written a gratitude-filled letter to Galaxy and their staff members. “As I say goodbye, I want to thank the chairman Tim Sukazi for the opportunity he gave me to play for this beautiful club and the coaching staff, headed by Sead Ramovic and goalkeeper coach Greg Etafia, for giving me my first professional debut and to my…