Indice dei contenuti per 2023-03-23 in Star

SARB now set to add more pain and increase interest rates by 25 basis points THE COST OF living in South Africa will remain elevated for a prolonged period after inflation in February rose for the first time in four months due to costs incurred by retailers to mitigate load shedding. As a result, the South African Reserve Bank (SARB) is now set to add more pain and increase interest rates by 25 basis points to 7.5% next week to contain rising consumer prices. Data from Statistics South Africa (StatsSA) yesterday showed that the annual headline consumer price inflation (CPI) edged to 7% in February from 6.9% in January, mainly driven by food and non-alcoholic beverages, and transport. This was the first time that inflation had risen since October last…

AFTER three consecutive days of no power cuts, Eskom yesterday resumed its rotational load shedding as the resumption of economic activity after the national shutdown and the public holiday put a strain on the grid. The struggling power utility had given South Africa a reprieve from intensified power cuts for the first time this year on Sunday, suspending load shedding for 3 days in a row. This coincided with the EFF’s planned national shutdown to protest against load shedding on Monday, which saw a majority of businesses closing for trade and reducing demand for electricity. However, Investec chief economist Annabel Bishop yesterday said that protesting against load shedding by seeking to drive a national shutdown, made the situation worse, not better, as the electricity supply constraints could not be quickly…

SHARES in RFG Holdings, which owns brands such as Rhodes, Bull Brand, Magpie, Squish, Bisto, Hinds, and Pakco, leapt yesterday after it released a trading update for the 21 weeks ended February 26, saying revenue increased by 7.4%, driven by price inflation of 14.7%. The shares closed 1.05% higher at R8.70 on the JSE yesterday. In its trading statement the food group said: “The deteriorating domestic consumer environment and competitor activity created volume pressure in some categories, and overall group volumes declined by 11%, which was partially compensated for by 2.5% growth from the Today acquisition," the group said. Volumes in the regional segment declined by 9.4% – largely in line with the market in comparable categories, it said. The pie category delivered a strong all-around performance after recovering from…

Grammy award-winning Afro-beats star Burna Boy recently said during an interview that he felt it was important for African-Americans to come to Africa and embrace their culture in order for them to escape the unique challenges they experience in America and understand where they come from. African-Americans on social media didn’t take too kindly to his comment and there’s been a lot of debate online. The Nigerian artist responded to the controversy with a statement through his Instagram Stories over the weekend: “It’s sad to see that in 2023 there are still such black people who would prefer we stay divided and conquered. “Maybe it’s my accent or something, but I never said you are African and not Americans. I also did not say Africa is part of heaven. You…

The EFF in Gauteng has condemned what it called the “callous behaviour” of the SAPS and Correctional Services in refusing to release the arrested protesters from Monday’s demonstrations. The EFF said that following extensive police deployment for the protests, it was clear they were sent to provoke and arrest innocent protesters in order to excuse the wasteful expenditure of R166 million in deploying the army and reserve police. “The state has now descended into an abyss of deceit and lawlessness as it infringes on citizens’ rights to demonstrate as guaranteed by Section 17 of the Constitution,” said Nkululeko Dunga, EFF provincial chairperson. He said the continued arrest of peaceful demonstrators and their denial of the right to apply for police bail exposed the state’s willingness to infringe and tramp on…

Renowned South African-born comedian Trevor Noah has been awarded the prestigious Dutch Erasmus Prize 2023, becoming the first humorist awarded the honour since Charlie Chaplin in 1965. The international talent received the award for his inspired contribution to the theme “In Praise of Folly”, named after Erasmus’s most famous book, which is filled with humour, social criticism and political satire. As a humorist, television presenter, political commentator, philanthropist, and author, Noah has staked his claim in the world of contemporary political satire. The Praemium Erasmianum Foundation said in a statement that Noah, 39, was receiving the prize “for his inspired contribution to the theme ‘In Praise of Folly’ … With his sharp-minded, mocking, yet inclusive political comedy, Noah, in the eyes of the jury, upholds the ‘Erasmian Spirit’.” Noah made…

GONE are the days when hybrids were looked down upon as overly complicated eco-warriors driven by tree-hugging hippies. In the last year alone hybrid sales have surged by over 500% in South Africa. Now Haval is getting in on the action, first with the larger H6 HEV and now with the Jolion hybrid model that you see here. Priced between R549 950 and R579 950 (in March 2023) depending on the spec level, the Jolion HEV is positioned more upmarket than the Toyota Corolla Cross – which ranges from R442 000 to R495 200. The Chinese alternative offers significantly more powerful drivetrain and additional luxury features. The Jolion’s self-charging hybrid system pairs a 1.5-litre turbopetrol engine to an electric motor for rather beefy system outputs of 140kW and 375Nm. It…

EVEN before the MotoGP season opens in Portugal on Sunday, defending world champion Francesco Bagnaia appears to hold pole position. Six-time champion Marc Marquez might be back to full fitness, as his Honda team insist, but pre-season testing suggested Bagnaia is again the fastest rider on the fastest bike and is poised to continue the domination he established late last season. Bagnaia was fastest in the last pre-season tests in Portimao in March on the track where the season starts. “I’m very happy,” Bagnaia said after smashing the track record. “We are ready at 100% for first race.” The Italian failed to finish five races last season and at the halfway point, after crashing on lap three in Germany, trailed the 2021 champion Fabio Quartararo by 91 points. Bagnaia accelerated…

A rule proposal by golf’s governing bodies that would limit the distance balls can travel in professional tournaments would only serve to hurt the players who hit it shorter off the tee, world No 2 Jon Rahm said on Tuesday. The proposal made last week by the Royal and Ancient and US Golf Association would give competition organisers the option to require players to use only balls that meet maximum-distance criteria. But Rahm, speaking to reporters ahead of the World Golf Championships Match Play tournament in Austin, Texas, questioned why the sport’s ruling bodies would even want to propose a rule that would reduce driving distance. “My biggest question for them would be we’re in a golden era of golf where it’s exploded since Covid, a lot of people are…

The One-Day International series against the West Indies has painted a vivid picture of where the Proteas stand and where improvements need to be made going into their clashes with the Netherlands. The abandoned first ODI did not aid South Africa’s quest for excellence and had it been played, there’d be a clearer understanding of where the team is ahead of the Netherlands series. The two matches, in East London and Potchefstroom, have however answered two big questions South Africa had been posed as an ODI unit. Quinton de Kock, as wicket-keeper and with the bat at the top of the order, is a proven success. A reminder to the fans, and perhaps to himself as well, is what is needed from him to further clarify the height of this…

OUTSURANCE Group, which almost doubled its interim dividend to 56.8 cents per share from 23.5c, has identified Ireland’s motor and home insurance market as a new expansion opportunity. Ireland is “a strong strategic fit”, the group said in its results for the six months to December 31, released yesterday. Ireland had a growing insurance market, favourable distribution dynamics, historic market profitability and a familiar regulatory environment. The market entry is subject to obtaining a non-life insurance licence from the Central Bank of Ireland. The group already sells insurance products in Australia, New Zealand and Namibia. “While the general economic outlook is tough, we remain optimistic about growth prospects given our low market share and growth potential in newly identified markets and channels,” Outsurance Holdings CEO Marthinus Visser said in…

CA SALES Holdings (CA&S) lifted its dividend 30.4% to 15.35 cents a share in its maiden year as a listed group and it is well placed to continue to deliver good results in the year ahead, CEO Duncan Lewis said yesterday. The retail group has a strong balance sheet and a diverse portfolio and geographic presence, he said at the end of the financial year to December 31 where headline earnings per share increased well by 31.2% to 78.2c per share. CA&S’s dual listing on the JSE and Botswana Stock Exchange in June 2022 had raised its profile among South African retail and institutional investors, and had increased the liquidity of the share, he said. The share priceclosed 2.71% higher at R7.20 on the JSE yesterday, close…

A SPAT BETWEEN RCL Foods and a minority shareholder, Albie Cilliers, sole director of Breede Coalitions, continued with yesterday’s call by Cilliers for the JSE to investigate RCL’s alleged “defamatory” and “false” claims on the JSE News Service (Sens). On Monday, RCL Foods claimed Cilliers had abused and profiteered from the share appraisal rights process. In a letter to the JSE yesterday, Cilliers requested it to investigate a trend where “issuers are using the Sens platform to defame shareholders exercising their rights and to discourage dissent and shareholder engagement.” RCL published an announcement on Sens alleging that Breede Coalitions abused and was involved in “profiteering” from shareholder appraisal rights, which saw the repurchase of R2.2 million worth of shares held by the minority shareholder, although RCL also said…

POLITICAL parties and civil society organisations made a failed bid to force Eskom and the government to “immediately” exempt key state institutions from load shedding in the North Gauteng High Court in Pretoria yesterday. The parties amended their court application after Eskom, on Monday, conceded that their demands for the exemption of hospitals, schools, police stations and small businesses from load shedding were warranted. The application was made minutes before the government of President Cyril Ramaphosa was due to present its version of the application to force the state to exempt key institutions from load shedding. Earlier, Build One South Africa (Bosa) leader Mmusi Maimane, whose party is one of the applicants, confirmed that they consulted widely and asked their legal counsel to make an amended application to force the…

Gauteng Premier Panyaza Lesufi is on a quest to tackle crime in the province and is currently in Europe studying hi-tech street lights with CCTVs, drone docking station and loudspeakers for emergency evacuation, among other features. Lesufi posted a video on Twitter where he was being shown a 5G street light pole with various features and the functions. He said other features included e-panic button and electric car charging station. “The future is here, touch it,” Lesufi said. One of the Twitter users asked the premier whether he was selling dreams. “Turning a pie in the sky to be humble pie. I am studying future crime-stopping gadgets and devices,’’ replied Lesufi. IOL reached out to Lesufi’s spokesperson, Vuyo Mhaga, to get more information on the new project and which…

“Our government must wake up. We can’t have a government that is unable to measure the flooding of people into the country. There are right-wing terrorists being trained in South Africa,” former SA Human Rights Commission chairperson Professor Barney Pityana said during a recent SAHRC lecture. The National Lotteries Commission board chairperson and former Unisa principal and vice-chancellor delivered the keynote address at the SAHRC lecture held at Constitution Hill on Thursday, March 16. The theme of the lecture was “28 years of democracy in South Africa: Prospects for the future”. Pityana said the country had descended into chaos because the police were being attacked by criminals while trying to fight crime. He said it had become unsafe to drive with the windows down in many parts of the country’s…

A female black mamba “evicted” a security guard from his guard house before it was removed by snake catcher Jason Arnold, who also, with the aid of a volunteer, helped the snake shed before he released it. Arnold, “The Snake Man”, said he had been called out recently to Mount Moreland, an area near the King Shaka International Airport, for a snake. The snake was apparently inside a guard house. Arnold said the person who called him had a look and said it was a black mamba. He knows what mambas look like because he had called Arnold out for one before. Although Arnold was directed to where the snake was, he said sometimes you go into a place thinking it is in one place while it is looking over…

Bidding wars over iconic and rare cars was the order of the day at an auction staged by Creative Rides in Cape Town. Going into the auction, all eyes were on the white 1987 BMW 333i with 98 000km on the clock, and this rare South African creation fetched R1.255 million. But the star of the show, in monetary terms, turned out to be a 1957 Alfa Giulietta Sprint Veloce Lightweight 750E Conrero Race Edition. While bids kicked off at R1m, a bidding war soon ensued and in the end the hammer finally fell at R2.7m. It is believed that fewer than 200 of these were ever built, making it one of the rarest Alfa Romeos in the world. The Giulietta was snapped up by a collector from Switzerland, and…

THE race to buy Manchester United entered a crucial stage yesterday as bidders faced a deadline to submit improved offers for the Premier League giants. Qatari banker Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe have rival bids on the table. There are reported to be several other groups whose interest in United has remained private throughout a bidding war which has intensified this week. Elliott Investment Management reportedly made it through to the second stage of the process, although the firm is believed to be offering funding to United owners, the Glazer family, rather than a takeover. Those who wanted to buy United had to declare their offer to Raine, the merchant bank brought in to assist the club, by last night. At least six bids,…

LIONEL Messi and his Argentina teammates will make a triumphant return in their homeland today when they play their first match since winning the World Cup in Qatar. More than 1.5 million fans applied for 63 000 available tickets for the match against Central American minnows Panama at the Monumental stadium in Buenos Aires. Football-mad Argentines were out in even larger numbers following the Albiceleste’s dramatic penalty shoot-out victory over France in December. An estimated five million people thronged the streets of Buenos Aires a few days later for the trophy parade. Such was the multitude that the parade had to be abandoned long before it reached central Buenos Aires as it was already hours behind schedule. Messi had been widely expected to retire from international football after the final…

world number two Aryna Sabalenka of Belarus says she has faced “hate” in the women’s tour locker room, but hopes tensions with Ukrainian players will eventually ease. Australian Open champion Sabalenka lost to Kazakhstan’s Elena Rybakina in Sunday’s Indian Wells final and at the media day for this week’s ATP-WTA Miami Open was asked about her recent comments on “tensions” in the locker room between Ukrainian, and Russian and Belarus players. “It was really, really tough for me because I’ve never faced that much hate in the locker room,” said Sabalenka. “Of course, there are a lot of haters on Instagram when you’re losing the matches, but like in the locker room, I’ve never faced that. “It was really tough for me to understand that there’s so many people who…

The Blue Bulls may be playing in Bloemfontein, but won’t be expecting “Cheetah rugby” from their opponents in tomorrow’s Currie Cup clash at Free State Stadium. The Pretoria side’s coach, Edgar Marutlulle, said his beleaguered team are embracing the pressure that is currently sweeping through Loftus, and they are confident of turning things around. While the United Rugby Championship squad only arrived in Belfast yesterday for Saturday’s game against Ulster, Marutlulle had to go back to a true Currie Cup line-up, although he was able to call on some grizzled figures for the short trip to Bloemfontein. While Springbok wing Sbu Nkosi has been rested, prop Lizo Gqoboka will captain the team and Jacques du Plessis will provide considerable bulk and experience as the No 4 lock. Muller Uys has…

THE INTERNATIONAL Monetary Fund (IMF) has slashed South Africa’s growth forecast for 2023 significantly due to heightened power cuts, weak commodity prices and weakening global economy. The IMF yesterday lowered South Africa’s real gross domestic pro- duct (GDP) growth forecast for 2023 drastically to 0.1% from 1.2% previously projected in January. This forecast is contained in the concluding statement describing the preliminary findings of IMF staff at the end of an official staff visit in South Africa for consultations under Article IV of the IMF’s Articles of Agreement. IMF’s head of research in the African Department, Papa N’Diaye, said South Africa’s near-term growth outlook had deteriorated. N’Diaye led an IMF team on March 1 to 17 to hold meetings with the economic authorities and other counterparts from the public and…

JSE AND 2X-listed Life Healthcare Group, announced yesterday that it was set to acquire TheraMed Nu- clear’s non-clinical imaging operations in Gauteng, in a bid to continue with its South African diversification strategy. The group declined to disclose how much the acquisition would cost, but said the transaction would be finalised mid-year. TheraMed Nuclear is a nuclear medicine and molecular imaging business offering advanced-techno- logy medical scanning services for the detection and treatment of diseases, such as organ dysfunction and cancer. Southern Africa Life Healthcare CEO Adam Pyle said: “The acquisition further entrenches our commitment to investing in medical imaging in South Africa, with our capability now extending into nuclear and molecular imaging. “As part of this journey, we plan to drive improved accessibility for clinicians and their patients in…

The radio industry is undergoing a shake-up with the annual revamp usually taking place around this time of year. Among them is Metro FM that is gearing up for the big move on April 3. The country’s largest commercial radio station recently announced its line up change and here are the details of who goes where. Siya Mhlongo will head up the station’s new pre-breakfast show called Command Your Day, which will broadcast from Mondays to Fridays at 5am - 6am. Sabelo Mtshali, known as DJ Sabby, is the new host of Metro FM Breakfast, and he will be joined by Kandice Coulsen. The show will broadcast on weekdays at 6am - 9am, and promises to be high energy, fast-paced and engaging. Khutso Theledi takes over The Bridge from Mondays…

Non-profit organisation Justice for Forensics has offered a R1 million reward to anyone who can help track down the mastermind behind the murder of insolvency practitioner Cloete Murray and his son, Thomas. The two came under fire at the weekend while travelling along the N1 highway near Midrand, in Gauteng. Murray died in hospital; his son died at the scene. Justice for Forensics has appealed to the public for assistance. “The callous murder of father and son has left the crime-fighting community devastated. This type of anarchy, if left unchecked, will bring South Africa to its knees. Forensics for Justice will therefore pay a reward of R1 million to any person that provides information which leads to the arrest and conviction of the person or persons that arranged this cowardly…

On March 21, the EFF organised a national shutdown. One of the issues the party raised is that President Cyril Ramaphosa should resign. I can say without a doubt that the shutdown was a great success. And more importantly it was peaceful. Something important also happened as a result of the shutdown. There was no load shedding for the entire long weekend. It is clear that Eskom was instructed by the government not to implement load shedding. Many people have attributed the temporary suspension of load shedding to the new minister of electricity Dr Kgosientsho Ramokgopa. What has he done to deserve that? Nothing, really. Credit should be given to the EFF’s shutdown. The shutdown has really shaken the nation, including the government. The government employed its security machinery to…

A three-legged endangered parrot-beaked (padloper) tortoise will soon be fitted with a Lego wheel prosthetic leg, to be facilitated by the Animal Welfare Society (AWS) in Philippi. The animal welfare organisation said its newest exotic animal patient came through its doors with a missing left hind leg. “She is an incredibly special tortoise as her species is sadly under huge pressure for its survival. “We had to come up with a creative solution to save this wonderful little tortoise which is endemic to South Africa and, after consulting with the experts, decided to fit her with a Lego wheel leg prosthetic to help her maintain balance and get about,” AWS said. “The prosthetic will be professionally fitted by an experienced veterinarian who is confident that she will regain her mobility…

IT WASN’T that long ago that if you mentioned Toyota Corolla the first comment would be words to the tune of boring but reliable. The reliable bit is still very much part of its DNA, but the boring bit has been dumped in the design department’s bin and they now attract glances from people who normally wouldn’t give it a second glance. That was certainly the case when we tested the Corolla 1.8 Xr hybrid hatch. Even a friend who has three variations of Hiluxes in his garage said it was a car he would now easily consider, with the bonus of a hybrid powertrain. Recent upgrades have made it even more eye-catching with a wider front air dam, C-shaped fog lamps at the outer edges and on the Xr…

SAFA president Danny Jordaan yesterday warned all clubs that are vying to compete in CAF competitions to launch women’s teams. In 2021, CAF sent a directive to their 54 regions that their domestic clubs should launch women’s teams as one of the pre-requisites to qualify for the Champions League and Confederation Cup. However, it appears that rule has been pushed to a further deadline, with teams in most parts of the continent, including South Africa, yet to adhere to the directive. From the Premiership, only Mamelodi Sundowns, TS Galaxy and Royal AM have teams competing in the national Super League. With Orlando Pirates and Kaizer Chiefs expected to compete in African competitions, they are racing against time to launch women’s teams. Pirates and Chiefs are gunning for second spot in…

PARIS Saint-Germain’s billion-euro investment may have paid dividends on the political stage for owners Qatar but the team is disappointing and bland, despite superstars Lionel Messi and Kylian Mbappe, former Germany captain Philipp Lahm said yesterday. Lahm, a 2014 World Cup winner who is now Euro 2024’s tournament director, was vitriolic in his criticism following PSG’s 3-0 aggregate loss to Bayern Munich in the Champions League last 16 earlier this month. “You feel for the many PSG fans who came to Munich (for the return leg on March 8). Their hopes that something could come together dies every year anew,” Lahm said in a column for German newspaper Die Zeit. PSG have never won Europe’s premier club competition and have made it to the final only once, in 2020, despite…

RICHARD Ofori says he’s been encouraging Sipho Chaine to continue doing well after losing the Orlando Pirates No 1 jersey to him in recent months. Chaine has been the Sea Robbers’ first choice goalkeeper since the restart, ahead of the injured Ofori and struggling Siyabonga Mpontshane. Despite conceding 12 goals and keeping four clean sheets in 13 games, Chaine has impressed, thanks to his ability to start play from the back. Those impressive displays have seen him get special praise from opposition coaches such as Rhulani Mokwena, who said he’s made a huge difference to the team since his debut. So Chaine looks all set but to continue donning the No 1 jersey even when the experienced Ofori returns to full fitness in the next few weeks. Not that Ofori…