Table of contents for 2024-03-05 in Star

BIDVEST is pursuing a number of acquisition opportunities, this after spending R3.2 billion on bringing nine new businesses into the group in the six months to December 31, CEO Mpumi Madisa said yesterday at the release of results for the six months to December 31. The market welcomed the results, with the shares surging 7.83% to close at R253.14 on the JSE yesterday. “We have successfully executed on our growth pipeline, with numerous acquisitions concluded in South Africa, Australia, the UK and Singapore. “This has added to our geographic footprint in hygiene services, enhanced geographic scale in facilities management and augmented our product and service offering. We have kept focus on making our businesses sustainable and have also grown the number of staff by 5 100,” she said…

DEPARTMENT of Mineral Resources and Energy (DMRE) Minister Gwede Mantashe is expected to pronounce the government’s stance on the looming “gas cliff” in his keynote address at the Africa Energy Indaba kicking off in Cape Town today. South Africa faces a shortage of gas from June next year as Sasol has indicated it will no longer supply the domestic market. This comes as the government has set up a round-table discussion for later on this month for all liquefied petroleum gas (LPG) stakeholders to address the issue. Industrial Gas Users Association of Southern Africa (Igua-SA) CEO Jaco Human confirmed yesterday that the Department of Trade Industry and Competition (Dtic) had issued the call for gas stakeholders including the DMRE, Industrial Development Corporation (IDC), Transnet and TotalEnergies, among others. The round-table…

THE MEDIA and Digital Platforms Market Inquiry (MDPMI) has set a precedent of accountability over the digital platforms in the global South and global majority countries, the South African National Editors Forum (Sanef) said yesterday. It also paved a way in establishing such investigations in South Africa and Africa, the organisation said. Speaking on the first day of the hearings of the inquiry convened by the Competition Commission, Sanef’s legal representative, Michael Power, said as such, Sanef and its partners welcomed the opportunity to continue to participate in this process. The MDPMI is chaired by chief economist and Acting Deputy Commissioner James Hodge of the Competition Commission, with other panel members. The inquiry was initiated to examine the distribution of media content on search and social media digital platforms,…

ELON MUSK, the South African-born entrepreneur and founder of SpaceX and Tesla, has been receiving serious backlash lately for all the right reasons. This comes after he has been off the mark a couple of times. In the past Musk has been vocal about issues that should have been left to people with time to waste. Recently, however, he has raised something that should receive everyone’s attention. Last week, he matched his criticism of Sam Altman, the co-founder of OpenAI, with legal action. Why is one of the richest man in the world suing an innovator with a mission to advance technology? One has to look to the past for answers. A few years ago before ChatGPT was a reality, Musk, Altman and others set out a vision to develop…

Born in Eldorado Park, culinary artist Chef Katlego Mlambo received his training at Cape Town’s esteemed Silwood School of Cookery. This journey comes to a climax as he steps into the role of the third judge for the fifth season of MasterChef South Africa on SABC 3. Mlambo’s culinary journey began in his childhood when he was surrounded by a profound love for food. He credits his early mentors – his grandmother, mother and two aunts – for sparking his passion for cooking. “My grandmother would whip up amazing dishes on Sundays, and I was absolutely enthralled by how basic ingredients could turn into the tastiest banana bread and scones. So, I became this little sous chef in our home kitchen,” Mlambo recalled. Mlambo is over the moon to be…

THE DA and the EFF want the ethics committee in Parliament to investigate National Assembly Speaker Nosiviwe Mapisa-Nqakula after corruption allegations against her surfaced at the weekend. The Red Berets also want Mapisa-Nqakula to be removed from office while the probe is under way and Cosatu said it was in support of the ANC resolution that those charged by relevant law enforcement organs should step aside from their leadership positions. According to reports, Mapisa-Nqakula was being investigated by the Independent Directorate in connection with allegations that she was paid R2.3 million in cash bribes by defence industry businesswoman Nombasa Ntsondwa-Ndhlovu while she was the defence minister. Similar allegations were made in 2021 but the joint standing committee on defence did not proceed with the investigation after a whistle-blower did…

The murder trial of Bafana Bafana captain Senzo Meyiwa, has been hit by another snag after one of the accused fired their lawyer, forcing a further delay to proceedings at the Gauteng High Court, Pretoria, yesterday. Accused No 2 Muzikawukhulelwa Sibiya has decided to dump his legal counsel, Sipho Ramasepele, and also brought an application to have the trial-within-a-trial reopened. Ramasepele will continue to represent accused No 1, Bongani Sandiso Ntanzi. Sibiya will be represented by advocate Thulani Mngomezulu. Yesterday, the court was set to hear final arguments after over three months of a trial-within-a-trial to determine the admissibility of confession statements made by Sibiya and Ntanzi. Ntanzi and Sibiya claim they were severely assaulted by police and forced to sign confession statements implicating themselves and others in the murder…

Ingredients Butternut soup base: 1½kg butternut, cubed 2 tbs olive oil Salt and milled pepper 1 onion, chopped 2 stalks celery, sliced ½ bs ground cumin ½ tbs ground cinnamon 2½ cups vegetable stock 1½ cups water 1-2 tbs lemon juice ½ tub cream ¼ cup butter (optional) Glug olive oil 2 cans chickpeas, drained and rinsed 3-4 tbs rogan josh or korma curry paste For serving: Crispy chickpeas Dollop of yoghurt Handful chopped parsley Method Preheat oven to 200°C. Place the butternut on 2 or 3 baking trays; take care not to overcrowd the trays. Drizzle with 2 tablespoons olive oil and season. Roast for about 30 minutes or until well browned. Heat the remaining oil in a large 6 to 8 litre pot and sauté the onion and…

Sapien Labs’ fourth annual Mental State of the World Report reveals that South Africa has some of the worst mental well-being outcomes of any of the 71 countries surveyed. It is revealed that with a mental health quotient of 50, the country ranks 69 out of 71 countries and has the greatest percentage of distressed or struggling respondents (35%). The report’s findings show that there has been no improvement in mental well-being after the pandemic, with levels remaining below pre-pandemic levels. Those over 65 saw stable mental wellness during the Covid-19 epidemic, whereas younger generations, especially those under 35, had the sharpest declines. Many Latin American and African countries lead the rankings, while much of the core Anglosphere is in the lowest quartile. Some of the probable consequences include the…

EDWARD “Slender” Mothibi is preparing for his fifth Comrades Marathon with the defending champion of the Up Run intent on defying superstition at the world-famous ultra-marathon. “I pray to God that I don’t get fifth position,” the Nedbank Running Club athlete said, during an address to the members of the Midrand Striders at the weekend. “I have run Comrades four times and I have never been out of the gold positions (top 10). And in those four years, I got all the top four positions.” Mothibi made his Comrades debut in the 2018 Down Run – from Pietermaritzburg to Durban – and finished in fourth place having looked likely to finish second for most of the race. “Then those who watched would remember what happened in my first Comrades when…

PHARMACEUTICALS group Aspen Pharmacare is on the lookout for acquisition opportunities in both emerging markets and China, where some investors could be looking for exit possibilities. Aspen raised revenues for the half-year period to the end of December by 10% to R21.1 billion, with normalised earnings before interest, tax, depreciation and amortisation (Ebitda) firming up by by 2% to R5.2bn. Nonetheless, headline earnings per share (Heps) for the period decreased by 6% to R6.27 per share, although normalised headline earnings per share were up marginally by 1% to R6.88 per share. Aspen group chief finance officer Sean Capazorio told Business Report in an interview yesterday that the discrepancy in the company’s interim Heps and normalised Heps was a result of intensified acquisition activity during the period under review which…

JUST A WEEK ago, the headlines screamed about Nigeria’s central bank governor, Olayemi Cardoso, pointing fingers at Binance, the world’s largest crypto exchange, alleging that it had facilitated the transfer of a whopping $26 billion (R502bn) in “illicit funds”. To put that into perspective, it’s more than what Nigeria usually receives in remittances from its dia- spora each year. And get this: leading up to June 2023, cryptocurrency transactions in Nigeria made up around 12% of the nation’s gross domestic product (GDP), according to Reuters. The allegations have reportedly led to the arrest of two Binance executives and the Nigerian government demanding that the company forks out more than nearly $10bn in compensation. In a scramble to avoid regulatory heat, other crypto platforms in Nigeria are scaling back their…

Shares in pay TV channel operator MultiChoice surged nearly 5% on the JSE yesterday after the Takeover Regulation Panel extended French entertainment group Canal+’s time frame to make a mandatory offer for the JSE-listed operator of DStv and GOTV by over a month. Shares in MultiChoice closed 4.21% higher at R109, but are 27.6% lower in the one-year comparative. Canal+ is seeking to acquire MultiChoice, although the South African entertainment company’s board has rejected the French company’s R105 per share offer. This has prompted Canal+ to raise its shareholding in MultiChoice to about 35%, unlocking provisions for a mandatory offer. Canal+ is required to and will publish a firm intention announcement by no later than April 8. Meanwhile, “MultiChoice has been instructed to implement measures to reduce offshore shareholding (Canal+)…

With the cost of borrowing in South Africa remaining elevated, consumers will be forced yet again to adjust their monthly budgets as the fuel price adjustments were announced yesterday. The Department of Mineral Resources and Energy has added to the cost-of-living crisis for consumers, with fuel price increases set to take place tomorrow. Motorists filling up with petrol will face a hike of R1.21 a litre for both grades of fuel, 95 and 93 ULP and LRP. Diesel (0.05% sulphur) will rise R1.06 a litre and diesel (0.005% sulphur) will go up R1.19 a litre. This means that a litre of 95 unleaded petrol will cost R23.73 at the coast and R24.45 inland, and 93 unleaded will increase to R24.13. The wholesale price of 50ppm diesel will increase to R21.91…

ActionSA has confirmed that it has initiated legal proceedings to probe the ANC’s settlement of the R102 million debt owed to KZN printing company Ezulweni Investments. This comes after the party reached an out-of court settlement over the R102m owed to the company for the 2019 elections campaign. In 2018, the govering party contracted the company to print their banners and other election material but failed to pay the company, resulting in a writ execution order, which almost saw the ANC part with some of its assets last year. Yesterday, ActionSA’s national chairperson, Michael Beaumont, indicated that the party has initiated legal proceedings to obtain the R102m debt settlement agreement between the ANC and Ezulweni Investments. This comes after a written request to the IEC Political Party Funding Unit to…

A section of the South African music and publishing industry has voiced its dissatisfaction with some sections of the Copyright Amendment Bill and Performers Protection Amendment Bill and wants President Cyril Ramaphosa to intervene. In an open letter to the president, South Africa’s music icon Yvonne Chaka Chaka laments the issue of fair use and other key aspects of the bills. Despite strong opposition from the arts and creative industries, the National Assembly passed the controversial Copyright Amendment Bill on Friday, March 1. The singer and activist says the bill will reverse the gains made by the industry and other art practitioners, which is why she has decided to write to Parliament. “I was right. On Thursday, the MPs, particularly, members of your party, the party of Nelson Mandela, Albert…

THE ANC faces an uphill battle of dealing with a mass exodus of members and now its alliance in the Free State has left the party high and dry. This comes as the SA National Civic Organisation (Sanco) Provincial General Council (PGC) resolved at the weekend that it would not be endorsing and campaigning for the ANC. The movement’s provincial chairperson Gift Poli said delegates agreed that as a civic organisation, members were allowed to campaign and vote for whatever political party they wished. “We agreed we are not going to dictate who our members are going to vote for. This decision doesn’t mean the end of the alliance. In our last national executive meeting, we said we must check political conditions, province by province, and support those who…

THE Gauteng Department of Education said it was aware that pupils at Theresapark High School were attending classes on a rotational basis. Spokesperson Steve Mabona said they had been supervising the construction team at the site and monitoring the progress of the school. Mabona was at the school yesterday, where parents were staging a protest, unhappy with the incomplete construction of the school. The parents expressed concerns about the delay in the completion of construction. They said they had not been informed why the construction had not been completed by now. According to members of a task team formed by the parents to look into the matter, the department forced the school to admit 1 200 learners, who were accommodated in nine mobile classrooms. According to the parents, this was…

Zinhle “DJ Zinhle” Jiyane, a woman who wears many hats, commemorates this significant milestone in her career with numerous accolades to her credit. The Umlilo hitmaker shared information about her next concert. She took to Instagram and said: “The countdown to the #20YearsOfDJZinhle has officially begun. Will you be there? Save the date: August 9, Nasrec JHB. #20yearsanIcon.” One of the biggest music festivals, Ultra South Africa, featured DJ Zinhle as one of its headliners. She recalls playing the main stage as a highlight. “My gratitude is at an all-time high. The 20 years of DJ Zinhle have come with many blessings; playing on the main stage at Ultra is a big one for me,” she shared. This year marks over a decade of her ‘ERA by DJ Zinhle’ as…

Kaizer Chiefs have their work cut out for them in their bid to finish the DStv Premiership campaign on a high after falling on hard times in recent months. Chiefs are enduring a three-game winless start to the year. They have drawn all three matches, two in the league and one in the Nedbank Cup. That slump has been propelled by their inability to score goals, as they’ve gone 309 minutes without finding the back of the net, albeit keeping three clean sheets. However, Chiefs can still save their season by finishing in the top three on the log and qualifying for either the CAF Champions League or Confederation Cup. But interim coach Cavin Johnson knows that’s easier said than done. And that’s why he’s made a plea to his…

Bulls co-captains Marcell Coetzee and Ruan Nortjé both missed their team’s December defeat to the Stormers, and it was no coincidence that they were two of the best players on show in Saturday’s victory at Loftus Versfeld. It has been a long and winding road for the Pretoria side before they could finally put one over their arch-rivals – seven matches, to be exact – and it was a case of lucky number eight for Jake White’s team in the 40-22 triumph. The bonus-point victory in front of over 50 000-plus spectators saw the Bulls move to second position on the URC log, so their 12 players who arrived in Cape Town on Sunday for the Springbok alignment camp would have been wearing broad smiles on their faces. No 5…

The board approved unbundling and separate listing of its poultry business RCL FOOD’s board has approved the unbundling and separate listing of its poultry business, Rainbow Chicken, “sooner rather than later”, RCL CEO Craig Cruickshank said yesterday. RCL Foods share price rose 4.5% to close at R10.45 on the JSE yesterday. “On March 1, 2024, the board gave its preliminary approval to pursue the formal separation of Rainbow via an unbundling to shareholders, and a concurrent listing on the JSE,” RCL said in its interim results for the six months to end-December. Rainbow is one South Africa’s largest poultry producers. “The board is of the view that the unbundling of Rainbow will enable both businesses to pursue their respective growth ambitions and investment theses in a focused manner and with…

BRANDED products group AVI lifted its interim dividend 17.4% to 202 cents in the six months to December after navigating the weak consumer environment, production sites impacted by wonky municipal infrastructure, port inefficiencies and load-shedding costs. Group revenue increased 7.1%. Gross margins remained protected despite material input cost increases, I&J being impacted by poor catch rates and loss of export sales due to port inefficiencies. With group sales volumes mixed due to the constrained environment, a combination of selling price increases, cost controls and an effective hedging programme protected margins, the board said yesterday. As a result, group operating profit increased by 17.1%. Headline earnings a share was up 17.4% to 374.3c. Capital expenditure of R242 million was to upgrade facilities and improve efficiencies. Direct load-shedding costs came…

AS PEOPLE continue to navigate the world of cloud computing and the new offerings AI can present, 2024 is on the brink of launching new opportunities for those willing to chart this opportunistic territory. Generative AI into the cloud 2024 is the year that people are going to stop questioning the use of Generative (Gen) AI, and rather re-evaluate where the value lies and where it fits into a broader strategy. That is where the cloud is going to play a huge role this year as businesses look for ways to implement Gen AI and how to use it in the cloud to make it more effective. Businesses need to focus on how they can bring Gen AI and the cloud to operate together as opposed to operating as separate,…

FERROCHROME producer Merafe Resources expects to report robust earnings for the full year to the end of December 2023 on the back of a weaker rand/dollar exchange rate, an increase in prices for chrome ore and an increase in sales volumes. In October, Merafe reported a 21% fall in ferrochrome output for the nine-month period ended September 30, 2023. It cited a pullback in production due to market conditions during the quarter to end-September, which had elevated power prices. Nonetheless, Merafe said yesterday that headline earnings per share (Heps) for the full year to December were expected to improve by between 4% and 24% to between 58.7 cents and 69.9c. The company expects to lift basic earnings per share (Eps) for the period to amount to between 64.5c and…

Rapper Cardi B has vowed to release her long-awaited new album this year. The Bodak Yellow hitmaker has vowed not to let “anxiety” or other people’s opinions stop her from finally bringing out her long-awaited second record, the follow-up to her 2018 debut, Invasion of Privacy. After returning with a new single Like What (Freestyle) recently, Cardi took to her Instagram Story to share a short video in which she scrolled through music files on her computer, some dating as far back as January 27, 2023. She said: “Look how long I’ve had this record for. I’m not letting my anxiety, I’m not letting what haters say, I’m not letting what fans say [stop me]. If I do a song, I’m gonna just drop it. "Well I’ve got no…

Minister of Higher Education, Science and Technology Dr Blade Nzimande has decried last week’s taxi-related gun violence that erupted in Braamfontein, resulting in the death of a second-year University of Joburg (UJ) student. The student, David Nkosingiphile Nxumalo, was shot and killed while another student was injured by a stray bullet in the taxi violence-related attack. Reports also indicate that two other people were killed in the shooting while sitting inside a vehicle outside student accommodation opposite the Wits Arts Museum. The SAPS confirmed that three people, including a university student, were declared dead. Yesterday, the minister visited family members of the two student victims, where he said he was concerned about the high levels of violence in the country that had spilled over to affect the lives of innocent…

The SA Federation of Trade Unions (Saftu) has intensified calls for Public Enterprises Minister Pravin Gordhan to resign over the sale of SAA to Takatso Consortium. This comes after Gordhan last week addressed a closed door parliamentary meeting on the SAA deal with Takatso. Gordhan is said to have refused to hand over the non-disclosure agreement (NDA) document from Takatso submitted as part of the acquisition process. Saftu secretary general Zwelinzima Vavi accused Gordhan of hiding corruption. According to media reports, correspondence between Gordhan and Khayalethu Magaxa, the chairperson of the parliamentary committee of public enterprises, through the Speaker of Parliament, indicate that Gordhan tried to force the committee into signing an NDA before accessing the documents. Last week, Independent Media reported that the documents at the centre of the…

MARIKANA, a town notorious for the massacre of mineworkers that took place there over a decade ago, is still struggling, with little in the way of service delivery. Wonderkop in Marikana, near Rustenburg, still suffers from air pollution, and its residents have been battling with water outages for months. According to residents, sections of Wonderkop have not had water since last year. Residents told The Star that they use vehicles to access and transport water every day in 5-litre containers. Those who don’t have cars use wheelbarrows and carry bottles of water. The water is accessible via a JoJo tank. It is supplied by the Sibanye-Stillwater mine. “We haven’t had water since last year. We are living in poverty in terms of water, because we can’t do anything, from cooking…

Delano Potgieter has praised Proteas legend Hashim Amla for his role in helping him play a starring role for the Lions in the Cricket SA Four-Day Series final. Potgieter was the unequivocal player of the match for his superb performances with the bat. Coming in at No 8, the all-rounder played two pivotal innings of 81 and a career-best 155 not out to initially get the Lions out of a deep hole before pushing them into a winning position. It set in motion one of the greatest comebacks in domestic cricket history as the Lions recorded a 99-run victory over their arch-rivals Western Province at the Wanderers. Amla, who holds the record for the highest Test score by a Proteas batter, joined the Lions at the beginning of the season…

The Bulls are flying the South African flag high in the United Rugby Championship after claiming the second spot on the overall points table this past weekend. It’s clear that they are the in-form local side, but the Stormers (ninth) and Lions (11th) are not far off from breaking into the top eight for a place in the play-offs, alongside Jake White’s troops. There are seven rounds of URC action left before the knockouts arrive, and the Bulls are well on their way to representing South Africa. The Lions and Stormers will put everything into the next couple of months to join them. Bulls the cream of the crop They’ve been excellent as an all-round team, and it looks like they’ve finally perfected the rugby White wants them to play.…

Orlando Pirates coach Jose Riveiro says they’ve embraced the “challenge” that will come with being at their best week in and week out in the next few months. The next few months are going to be challenging for Pirates. They’ll have to ensure that they always win to have any chance of repeating last season’s success. Pirates won the MTN8 and Nedbank Cup, while they finished second in the DStv Premiership behind champions Mamelodi Sundowns. So, having already defended the MTN8, expectations are that they’ll defend the Nedbank Cup and second spot. Riveiro, who’s tasked with guiding his troops to that success and more, says they are not deterred by the challenge as it is part and parcel of their job. “It’s a challenge – that’s why we are in…