Indice dei contenuti per 2024-03-18 in Star

Business community welcomes president’s decision to extend his term for another five years MARKETS and the wider business community in South Africa have welcomed President Cyril Ramaphosa’s decision to extend South African Reserve Bank (SARB) governor Lesetja Kganyago’s term for another five years. Economists and business lobby groups alike said that this announcement would sustain confidence in the country, as South Africa deals with challenging economic conditions and the political uncertainty that is likely to grow ahead of the general elections. On Friday, Ramaphosa reappointed Kganyago as governor of the SARB, along with Nomfundo (Fundi) Tshazibana and Dr Rashad Cassim as deputy governors of the SARB, each for another five-year term. Ramaphosa also appointed Dr Mampho Modise as deputy governor, following the resignation of Kuben Naidoo in November 2023. Modise’s…

Daybreak Farms, one of the largest integrated poultry producers in South Africa, wholly owned by the Public Investment Corporation (PIC), yesterday announced a new C-Suite team as it cleans up its reputation in the wake of a corruption scandal. In 2022, the PIC overhauled the company’s board in light of reports of multimillion-rand irregularities at the chicken producer. It also appointed new auditors and established a whistle-blowing hotline service provider as part of operationalising an ethics and investigations committee. In a statement issued by Daybreak Farms, it said its corporate image had been marred by negative media in the past few years, but recently it had started to convey the fixtures and work done to reposition itself, strongly signalling to the market its governance renewal journey and the operational overhaul.…

Lesetja Kganyago is to be congratulated on his reappointment to the post of South African Reserve Bank (SARB) governor – a vital role in protecting the rand and macroeconomy. International markets and economists alike trust his independent mandate and guidance of monetary policy, which is to his credit, and it is good news for SA Inc to have a respected central bank leader at the helm who is not afraid to make unpopular interest rate decisions. Furthermore, he is passionate about monetary policy, cares greatly about the SARB and monetary policy, and it is easy to see. It is hard to be the bearer of bad news, and Kganyago, despite popularist pressure, has plotted a prudent trajectory as regards repo rate decisions in the face of high inflation – a…

If you cannot measure it, you cannot manage it. This is the challenge that South Africa faces in as far as addressing many of its challenges. This is especially true where poverty is concerned. However, to its credit South Africa has sophisticated measurement tools and measurement outcomes across the spectrum. It certainly is not a case of not being able to measure it because measurement is not a national problem. It exists in abundance in South Africa. But why is it that we can measure it, yet we cannot manage it? This points to a different deficit, one of the capacity to understand, to address and respond appropriately. Measurement is at the heart of policy design and understanding. This is a sine qua non. Without a science policy, such matters…

Libstar Holdings’ new strategic direction boosted trading performance and cash generation in the second half of the 2023 financial year, the group said Friday. The new strategy for the manufacturer, distributor and marketer of branded and private label consumer packaged goods and foods was implemented in challenging markets during the 2023 period. Libstar’s annual results, released Friday, resulted in the share price closing 5.42% higher at R3.50 on Friday, although the price was well down from R5.20 a year ago. The dividend fell to 15 cents a share from 22 cents in 2022. Normalised headline earnings per share fell 11% to 58 cents in the year to December 31. Customer demand had been muted, manufacturing input cost inflation was high, and economy was also impacted by load-shedding and port congestion,…

The Love is Blind season six reunion episode has been released and streamers finally got some answers to their burning questions. From Trevor Sova’s secret girlfriend to the aftermath of Clay Gravesande saying no to Amber Desiree “AD” Smith at the altar as well as Jeramey Lutinski, Sarah-Ann Bick and Laura Dadisman’s toxic love triangle, there was a lot to address this season. The reunion episode has been trending online, with hosts Nick and Vanessa Lachey applauded for how they grilled the group. The popular US series is a dating experiment which tests if people can fall in love and commit to marriage, without physically meeting first. They only see each other after they propose and they then jet off to a tropical location to test their connection. They are…

MORE than 20 years ago a unique vision was born for landowners in Dinokeng, north of Pretoria, to drop their fences and create one game reserve sporting the Big Five. Today, it’s an “Africa-in-one-day” success story. Not only had Dinokeng Game Reserve created thousands of jobs for especially the community of Hammanskraal, where the reserve is located, but it has also placed South Africa on the international map and has been at the forefront of nature conservation. Since the opening of the reserve in 2011, it has made strides in offering guests Big Five game sightings. While the Dinokeng Game Reserve has been well established since its inception, there are many more to come, Hartogh Streicher, Dinokeng management association chairperson promised. Last week saw this year’s Meetings Dinokeng Showcase event,…

Ingredients 1½ cups all-purpose flour 2 teaspoons baking powder ½ teaspoon baking soda ½ teaspoon salt 1 cup whole milk 1 cup shredded Cheddar cheese 6 tablespoons butter, melted and cooled slightly ½ cup spinach chopped 1 egg Method Preheat the oven to 180ºC. Lightly grease a 12-cup muffin tin or line with paper liners. Whisk flour, baking powder, baking soda, and salt together in a bowl. Stir milk, Cheddar, melted butter, spinach, and egg together in a large mixing bowl until evenly blended. Slowly stir in flour mixture to form a batter. Spoon about 2 tablespoons into each prepared muffin cup. Bake in the preheated oven until a toothpick inserted into the centre of a muffin comes out clean, about 35 minutes.…

Outside a hospital in rural Zimbabwe, scores of people wait patiently under trees or inside small tents for news of their loved ones. Vendors sell snacks, fruits and drinks to drivers queuing at the gates of what has become an unlikely sought-after health-care destination in the impoverished country. Zimbabwe’s public health system has all but collapsed under years of mismanagement, amid shortages of funds, staff, medicine and equipment. When in need, those who can afford it, including government ministers, fly overseas to seek treatment. Some check into private, but relatively expensive clinics in Harare. Many others make the trip to Mount Darwin, a small village in the parched countryside about 200km north of the capital and home to the Karanda Mission Hospital. “I lost all hope of having my aunt…

Many of us have dreamed about the amazing prospect of flying cars, especially when sitting in traffic jams on the way home from work. As cities evolve and the world’s population becomes increasingly urbanised, transport systems are unable to cope with increasing numbers of vehicles on our roads. Despite the upgrading of highways there’s been a negligible reduction in traffic-jams on our highways. Moving passengers safely and efficiently is critical for economic growth and tourism. And although trains have alleviated the problem in the developed world, most developing economies have not employed train technology with success and impact. Although South Africa built the Gautrain, it is expensive and has limited destinations. Hence taxis remain South Africa’s largest mover of people. And with the failure of Transnet, the largest mover of…

Amad Diallo scored deep in extra-time after Marcus Rashford made amends for a bad miss to lift Manchester United to a breathless 4-3 victory over north-west rivals Liverpool and into the FA Cup semi-finals yesterday. United’s victory at Old Trafford kept alive their only hope of silverware this season and spoiled Liverpool’s dreams of hoisting four trophies in manager Juergen Klopp’s final season with the team. Scott McTominay gave United a 10th-minute lead but Liverpool turned the game on its head with goals from Alexis Mac Allister and Mohamed Salah before half-time. Antony’s 87th-minute effort for United, however, sent the game into extra-time when Harvey Elliott netted to cheers from Liverpool’s 9 000 travelling fans. But 12-times FA Cup winners United – who are four places below Liverpool in the…

The government’s focus on beneficiation needs to shift. It’s not working, and nor will it work until we focus obsessively on competitiveness. In 2007, with the publication of the first industrial policy action plan (Ipap), beneficiation made a generous appearance, covering everything from minerals to rooibos tea. In 2011, the Department of Mineral Resources published “A Beneficiation Strategy for the Minerals Industry of South Africa”, which reminded us of the 2010 “New Growth Path” (NGP). This was the first “master plan” published by the Department of Economic Development, of which beneficiation is an important part. The NGP aimed to reduce unemployment from 25% to 15% by focusing government’s attention on industries with high growth and high labour absorption potential, of which beneficiation was believed to be a part. The beneficiation…

Mediclinic, the international private hospital group owned by Remgro and Mediterranean Shipping Company (MSC), said on Friday that there had been a marginal improvement in its performance in the second half of the financial year to March 31, 2024. Remgro released Mediclinic’s results for the six months to September 30, 2023, on Friday, as well as an outlook for the second half, because Mediclinic is a big contributor to Remgro’s results, which are likely to be released soon. Mediclinic delisted in June last year. “Mediclinic continues to navigate the post-pandemic environment, which has introduced both macro-economic and sector-specific challenges. With its diversified portfolio and expanding footprint across the continuum of care, Mediclinic remains highly focused on revenue growth and delivering operational and cost-efficiencies,” Mediclinic’s board said in the results. Investment…

Former president Jacob Zuma has assured Afrikaners that the uMkhonto weSizwe (MK) Party will not kill them if the party comes into power. Zuma said even after the unbanning of the ANC in 1990, when they returned from exile, their mission was to unite South Africans. He said that has not changed and they still believe in unity between white people and black people in the country. Zuma was on Saturday addressing Afrikaners in Pretoria where he has been on a campaign trail. “There is a history that we went through. Everybody. Not just between blacks and whites, but blacks and blacks. The man I was talking about here, Shaka, created a nation out of tough (conditions). In South Africa as well, it is not just blacks and whites, but…

OVER 5 000 assistant agricultural practitioners (AAP) left hanging after the Department of Agriculture and Land reform terminated graduates’ contracts, are hoping that the president will come to their aid and reinstate them to their jobs. The Department of Agriculture, Land Reform and Rural Development developed a programme for three months to appoint 10 000 unemployed agricultural graduates as AAPs to assist the government to reach the target of one extension officer to 250 farmers. The 5 000 graduates were to be recruited in the first cycle of 2022/23 financial year, with them placed at the different provinces and deployed with various agricultural institutions in the sector including Agricultural Research Council (ARC), the Association of Veterinary and Crop Associations of South Africa (AVCASA), Grain SA, and the South African Sugar…

AFTER having lived in the streets of Joburg for more than 13 years, now 31-year-old Melusi Sibusiso Magubane is excited about having finally kicked his drug addiction, with an imminent return to university. Magubane, who dropped out of his 3rd year of accounting studies at UJ in 2013 after the death of his mother, found himself homeless and destitute after his father sold the family home, resulting in his life being turned upside down by crack, cocaine and nyaope addiction. Last week, Magubane addressed the media about his road to recovery after his return from rehabilitation. Now that he is finally clean, Magubane wants to continue where he left off with his studies, and plans are already in place for that to happen. “Today, I stand before you proud…

MEMBERS of Food & Trees for Africa and P&G staffers brought some tree-planting excitement to scores of Thobeka Primary School learners ahead of the International Day of Forests and Human Rights Day on Friday, which are both celebrated on March 21. The day, which began with a bit of song and dance to get the learners in the mood, culminated in the planting of more than 20 trees during the launch of the first phase of the 1 000 trees campaign which will be rolled out across 20 Soweto schools. Participating learners dug up the soil and planted their own trees, with the first trees named after some of the youngsters. “I love trees, and today was able to learn more about the importance of trees and how…

I switched my TV on at 6.10am on Thursday, tuned into eNCA, and could hardly be surprised to hear that the reason for some people being without water for weeks was because a valve was deliberately closed. The sudden shortage of water supply countrywide was always suspicious. First we learnt about the many acts of sabotage at Eskom causing load shedding, which has not yet been resolved. Now there is interference with water flow leading to a catastrophic crisis affecting households, schools, hospitals and businesses. There is no shortage of tricks used to discredit the government and probably a ploy to prove that deployment of unskilled people to important government positions is a recipe for disaster. Properly trained people in water and sanitation would probably know what to look…

DEMOCRATIC South Africa has only known one political party as the governing party at the national level of government. That party is the African National Congress. The ANC has had this long, uninterrupted run in government because it was able to win elections and by doing so gain the right to govern the country, as stipulated in the South African Constitution, that the political party that wins elections shall govern. In 1994, the ANC won 62% of the national vote, in 1999 66%, 2004 69.7%, 2009 65.9%, 2014 62.1% and in 2019 57.5%. It has been an incredible electoral performance by the former liberation movement. But it is worth observing that in the last national and provincial elections (2019) the ANC went below 60% for the first time since the…

IT WAS business as usual on Saturday when Safa hosted its ordinary national executive committee (NEC) meeting in Sandton this past weekend, despite a looming legal battle hanging heavy over the association. In light of the search by the Directorate for Priority Crime Investigation (Hawks) at Safa House in Nasrec, Johannesburg, at the beginning of the month, some had labelled Saturday’s meeting as a “special” ordinary NEC meeting. An insider told Independent Newspapers that the meeting was “a normal quarterly meeting” and the only deviation was the attendance of the two national team coaches, Hugo Broos and Desiree Ellis. They awarded Safa vice-presidents Irvin Khoza and Natasha Tsichlas with Africa Cup of Nations bronze medals. Furthermore, the meeting heard reports from various committees, such as finance, school football and other…

D’General 0 TS Galaxy (2) 3 Nurkovic 33, Mahlangu 42, Zwane 50 THE Rockets qualified for the quarter-finals of the Nedbank Cup after they eased past an energetic but ultimately overwhelmed ABC Motsepe Foundation side D’General at an electric Free State Stadium in Bloemfontein yesterday afternoon. TS Galaxy previously made the last eight of the tournament when they won the trophy back in 2019. Yesterday, they were given a warm welcome with a decent number of fans in attendance. However, it was not the black-and-white stripes of D’General that cheered them on but rather the green-and-white hoops of former Bloemfontein Celtic fans singing and dancing in support of their adopted Free State club. Galaxy’s Samir Nurkovic made his intentions clear from the first minute as he fired the first…

BAYER Leverkusen beat hosts Freiburg 3-2 yesterday to stay 10 points clear at the top of the league standings and edge ever closer to a first ever Bundesliga title. Florian Wirtz put the visitors, who are unbeaten across all competitions this season, in front after two minutes before Ritsu Doan’s clever shot in the 10th minute drew Freiburg level. The Company’s Eleven, however, went back into a deserved lead in the 40th when Adam Hlozek tapped in from close range after superb early work from Wirtz. Patrik Schick’s stunning flick, with the ball going in off the post in the 53rd minute, gave them a two-goal cushion and, despite a Yannik Keitel goal in the 79th minute and late pressure from the hosts, they hung on for a club-record 22nd…

THE RAND firmed on Friday, after slumping the day before on a stronger US dollar and mixed local data. At 5pm local time the rand traded at R18.70 against the dollar, about 0.2% stronger than its previous close. The local currency slipped more than 1% on Thursday at one point, after the dollar firmed on the back of US inflation data. The greenback had trimmed its gains to trade up about 0.03% against a basket of global currencies on Friday. The rand’s weakness was also fuelled by domestic data, which showed a total mining output drop of 3.3% year-on-year in January, while gold production was down 12.7% in the same period. Investors will now turn their focus towards South Africa’s inflation figures, due next week. On the stock market, the…

Last week once again proved that if the world economy sneezes the South African economy and financial markets catch a cold. The news on Wednesday that the US inflation rate data were higher than expected and still battling to come down, was not good for the rand exchange rate. US core inflation during February decreased by only 0.1% to 3.8% –higher than the expected 3.7%. The US Federal Reserve (Fed) uses core inflation, together with the Personal Consumption Expenditure (PCE) index as targets to control inflation. The Fed set a target for each to come down to 2% The latest PCE index in January increased to 120.81 points from 120.31 points in December 2023 – the highest level of the index since 1959. Following the news the previous week that…

Global fishing and food products group Oceana said that earnings and headline earnings a share were expected to be at least 60% higher for the half-year to March 31, 2024, after high stocks and good prices for fishmeal and fish oil boosted the results of US subsidiary Daybrook. This had contributed to a 13.2% increase in group revenue for the five months to February 28, 2024, the group said in a trading statement on Friday. Sales of Lucky Star canned fish were down from the record highs of the prior year, when consumers stocked up ahead of a January 2023 price increase. This resulted in an 8.7% decline in canned fish revenue. Fishmeal and fish oil revenue in South Africa dropped 36.3%. Lower opening inventory and factory upgrades, which affected…

ONE of South Africa’s greatest jazz icons, Abdullah Ibrahim, will be turning 90 this year, but that has not slowed him down as he prepares for a world tour. The Germany-based musician will celebrate his big 90th birthday in October. Ibrahim’s world tour kicks off on March 24 in Bergamo, Italy, where the renowned pianist is expected to perform across the world at various venues, including in South Africa. Ibrahim will be visiting cities and cultures that in their time were pivotal in his exiled life. The legendary jazz maestro is scheduled to perform a series of landmark concerts in Gauteng and Western Cape, in April. Ibrahim is set to evoke nostalgia as he performs at the Cape Town City Hall, where he first professionally performed at 16. He will…

When it comes to animation, Africa is making wonderful strides in the genre. To date, we have popular shows like Kizazi Moto: Generation Fire, Supa Strikas, Supa Team 4 and Kiya & the Kimoja Heroes, resonating with little ones. And now Disney+ has added Iwájú to its stable. The six-part coming-of-age series is set in a futuristic Lagos, Nigeria. It follows Tola (Simisola Gbadamosi), a young girl from the wealthy island, and her best friend, Kole (Siji Soetan), a self-taught tech expert, as they discover the secrets and dangers hidden in their different worlds. Director Olufikayo Ziki Adeola, production designer Hamid Abrahim and cultural consultant Toluwalakin “Tolu” Olowofoey, unpacked how the project came about in an interview. Ziki Adeola explained: “The origins of this project date back to 2019 when…

WITH the elections just over two months away, the timing by FNB to close former president Jacob Zuma’s bank account has been brought into question by some political leaders. Zuma has been leading the uMkhonto weSizwe (MK) Party for the past four months, and is number one on its candidate list. It was reported yesterday that the bank was closing his account – the same account where the now defunct VBS Mutual Bank deposited a loan of R7.8 million to Zuma. FNB said it was complying with an order of the High Court in KwaZulu-Natal. “FNB is complying with a specific order by the High Court (KZN division). However, given client confidentiality, FNB cannot comment further on any client’s specific bank accounts and treats all customers objectively and consistently,” said…

HOME Affairs Minister Aaron Motsoaledi has vowed that the days of “crocodiles” lingering in the country with fraudulent documents are numbered as his department pledges to work hand-in-hand with specialist investigative authorities. The minister made the comments at a briefing in Pretoria yesterday, while clarifying reports of the negative impact on tourism following the leak of an internal communication circular released by his department last year. He also addressed reports of a looming court challenge by suspended North West Development Corporation CFO Kuda Mpofu, as reported by a Sunday publication last weekend, in what he described as “a national embarrassment”. Motsoaledi said despite his best efforts to explain the circular on December 21 last year, on two separate occasions in Parliament, there remained some backlash from the tourism industry about…

Khukhuza Esau Mdhluli, 92, of Wattville, Benoni, can’t stop thanking the ophthalmology team at Tambo Memorial Hospital for their help in restoring his gift of eyesight. Having lived for almost nine decades, he conquered numerous challenges in his life, but it is his most recent victory that has reignited hope and restored his freedom. Mdhluli recently made a special trip to Tambo Memorial Hospital to personally acknowledge Dr Agnes Risko-Kenyeres, the highly esteemed head of ophthalmology at the facility, for the significant impact of her work. This was done as a show of gratitude for her compassion and medical brilliance. Mdhluli said he had gone on a journey from darkness to light, overcoming blindness with the skilled treatment of Risko-Kenyeres and her team. He lauded the team for their timely…

In total, 4 412 women are behind bars in South Africa, 60 of whom have given birth – and in the Western Cape, 902 women find themselves imprisoned with nine babies being born. Last week, the Department of Correctional Services (DCS) confirmed that their prison population for women was growing, but so were their rehabilitation programmes. Last week Independent Media focused on why women commit crime. Who could forget the murder of 6-month-old Baby Jordan-Leigh Norton in 2005. Dina Rodrigues was fingered as the mastermind and is serving time at Worcester Female Prison. She would be eligible for a parole in December 2031. Then there is Najwa Dirk Petersen, jailed at Pollsmoor. A new hearing for her will take place this year. Dirk was the mastermind behind the murder of…

Following the devastating impact of Parkinson’s disease on her family, national chess champion Shreeya Mahadeo has volunteered to contribute all her chess winnings towards raising awareness of this condition. World Parkinson’s Disease Day is observed each year on April 11. The Durban youngster, 14, said she was first affected by Parkinson’s in 2013, when her grandfather was diagnosed with the condition. Mahadeo has decided to qualify for and win as many national and KwaZulu-Natal chess tournaments as she can this year to raise funds for Parkinson’s awareness. “I want to dedicate all my tournaments and fund-raising to Parkinson’s ZA and my granddad,” she said. Shreeya’s father, Sebastian Mahadeo, said they discovered this organisation after Shreeya’s grandfather’s diagnosis. He said they aimed to raise at least R10 000 this year. Parkinson’s…

The headline of Pamela Ngubane’s letter, “Israel must be treated like a lunatic state”, is more than a little rich considering the nature of the letter itself. I’ve been defending Jewish people and the Jewish State in the media since the unspeakably savage massacre in Israel on October 7 last year, which launched, a wave of anti-Semitism that recalls Europe in the 1930s and one of the grizzliest but most necessary wars Israel has been forced to fight. Ngubane insists “it is apparent that Americans have slept through the takeover of their government by Zionist Jews,” but despite her assurance that this is neither an “exaggeration” nor a “conspiracy theory”, it’s clearly both. The American Israel Public Affairs Committee is a powerful lobbying group, but it is only one of…

The composition of their loose-trio and back-three will be crucial to the Bulls' away success as they head to Wales in the United Rugby Championship (URC) to take on the Dragons. While the Newport-side lingers in second-last place in the competition, the men from Pretoria are currently in second and only four points behind log-leaders Leinster. The big clash on this mini-tour for Jake White's troops will be next weekend's, against the Irish powerhouse at the RDS Arena, and they can be forgiven if they are thinking about that one already. The Dragons have won only two of their matches so far in the tournament, and this could tempt the Bulls to put out a different-looking team on Saturday (kick-off 9.35pm) to the one of next weekend, but after a…

WEST Ham United had three goals ruled out, including what would have been a dramatic stoppage-time winner, as Aston Villa came from behind to earn a 1-1 draw in a fiery Premier League clash yesterday. Michail Antonio's stooping header, his first goal since August, gave the hosts the lead after 29 minutes. West Ham had the ball in the net twice through Mohammed Kudus and Antonio either side of half-time, but neither goal stood. Villa, who felt they should have had a penalty for handball before West Ham's opener, equalised in the 79th minute when Nicolo Zaniolo poked home fellow substitute Moussa Diaby’s cutback after a period of sustained pressure. The visitors, seeking to regain the advantage in a battle with Tottenham Hotspur for fourth place, could not grab a…