Mercuryの 2023-01-13 の目次

THE number of exchange-traded products (ETPs) listed on the JSE is growing, particularly now that actively-managed portfolios are also accommodated, and industry players are predicting further expansion in the number and variety of products available in South Africa. The number of ETPs listed on the JSE rose from 168 at the end of 2021 to 183 at the end of 2022, according to etfsa.co.za statistics. Part of the growth was the introduction by the JSE of two new categories in October last year. These include actively-managed exchange traded funds (AMETFs) and actively-managed certificates (AMCs). The former allowed issuers and portfolio managers to use actively-managed strategies to provide a return for the investor, instead of passively tracking an index, or other type of asset. The latter are non-interest-paying debt instruments –…

THE COUNTRY will have to wait four more days before it knows if President Cyril Ramaphosa will be summoned to appear before the Gauteng High Court, South Division, on January 19, after judgment in his application seeking to stop the private prosecution was reserved yesterday. Former president Jacob Zuma instituted a private prosecution case against his successor accusing him of being an “accessory after the fact” after advocate Billy Downer and journalist Karyn Maughan allegedly leaked Zuma’s confidential medical information during his arms deal trial. Downer and Maughan are being privately prosecuted by Zuma for allegedly violating the National Prosecuting Authority Act. Yesterday, the president’s legal team appeared in court, seeking an interdict to prevent Zuma’s matter from proceeding against him. Ramaphosa was served last year with summons to…

I am often overwhelmed with reader responses to certain themes, but the most mail is usually in response to insights about my sons. Parenting is a universal theme. We have all had parenting of some form or another – often less than ideal – and we are constantly subjected to ideas about parenting. It is a lucrative market. I know this is a controversial idea, but I think the power of parenting is overrated. Of course it is important and parents ought to do it as well as possible, but it is very clear to me that my sons are far more than I could have ever parented. I think nature trumps nurture on this one. What do you think? Here’s a note from a reader I really enjoyed: “I…

One reads that a female SAPS captain and two of her colleagues were arrested for demanding R10 000 from foreign nationals for their release after their arrest. This SAPS trio should be fired immediately. If not, then suspended without pay and an emergency court session be held and the three dismissed and jailed for corruption. This is the only course of action to substantiate the president’s recent statement that corruption will not be tolerated. These acts by the police seem to indicate just how deeply ingrained corruption is in the SAPS. By all accounts, this is only the tip of the iceberg within SAPS. One just wonders whether the government indeed has the willingness to rid its institutions of the inbred culture of corruption. By all accounts it…

Three organisations that claim that the Covid-19 vaccine is harmful to people, have turned to the Gauteng High Court, Pretoria, in an urgent bid to stop the government from administering further jabs. The three non-profit organisations – Covid Care Alliance, Transformative Health Justice, and Free the Children – Save the Nation – are asking, among others, for an order interdicting the government from urging South Africans to be vaccinated against Covid-19 and from distributing vaccines to vaccination centres. They are asking that this order remain in place, pending a further application in which they are asking that health officials be ordered to test the medical and scientific efficacy and safety of the vaccines. The applicants also want the government to look into the medical conditions of those who have displayed…

The SAPS yesterday welcomed new Special Task Force members to the elite unit with a parade at the Tshwane police academy in Pretoria West. National police commissioner General Fannie Masemola gave the 11 officers their wings, including the first female officer, 31, who underwent the 36th two-year Special Task Force selection training programme. The cohort stood on parade next to 10 Special Task Force members who were receiving their Operators Badge after undergoing a two-year probation period during which they were already serving as members of the unit. Family, friends and colleagues watched as the new members were reminded that the Special Task Force was a highly specialised unit responsible for responding to high-risk incidents which include hostage incidents, search and rescue missions, as well as specialised operations support. Masemola…

Three of the country’s top legal eagles will this year join the Competition Tribunal. The tribunal this week announced the appointment of advocates Geoff Budlender SC, Jerome Wilson SC and Tembeka Ngcukaitobi SC. All three are recognised as leading experts and will join the tribunal from this month, next month and March respectively. The tribunal is a specialist independent adjudicative body with cross-disciplinary expertise in law and economics, whose function is to hear and decide cases involving mergers and prohibited practices (including cartel and abuse of dominance cases). Tribunal members adjudicate matters and write judgments. Each tribunal panel comprises three members who are either economists or lawyers with varied industry, academic and professional experience. Each panel must have at least one lawyer. Commenting on the appointments, tribunal chairperson Mondo Mazwai…

All depends on whether a chastised president can regain a semblance of authority AS SOUTH Africans face the stark reality of yet another year of hardship, endless load shedding, rising prices and a cost-of-living crisis under the stewardship of the only government they have known since the onset of democracy in 1994, their political master, the ANC government, is hedging its fortunes and whatever goodwill it has left on the seamless aspiration of hope. Judging by the Christmas message of Deputy President David Mabuza and the New Year message of President Cyril Ramaphosa, there were bucket loads of the stuff. “As a country, we should not lose hope because we have the skills and potential to deal with the social and economic challenges we face. What we need more than…

THE Canadian Armed Forces have delivered armoured vehicles to Haiti to combat gang violence against Haitian citizens, the country’s foreign ministry said in a statement yesterday. “Today, the Minister of Foreign Affairs, Melanie Joly and the Minister of National Defence, Anita Anand announced that the Canadian Armed Forces have airlifted vital Haitian-purchased armoured vehicles to Haiti,” the statement said. It noted that the Canadian authorities were responding to Haiti’s request for help against the backdrop of an escalation of violence in the country. Armoured vehicles were handed over to the Haitian National Police for use in the fight against criminal gangs. “Canada continues to support the restoration of peace and security for the Haitian people. Delivery of these Haitian-purchased armoured vehicles will assist the efforts of the Haitian National Police…

RWANDA: Rwanda’s government has backtracked on President Paul Kagame’s position that the country will no longer offer refuge to those fleeing conflict in the Democratic Republic of Congo (DRC). Kagame had said refugees fleeing across the border into Rwanda were “not Rwanda’s problem”. “I am refusing that Rwanda should carry this burden,” the president said. But in a statement on Tuesday night, government spokesperson Yolande Makolo said Rwanda had no intention to expel or ban refugees. She accused the media of misrepresenting Kagame’s remarks. “What the president addressed was the blatant hypocrisy in criticising Rwanda, which simultaneously gets the blame for state failure in the DRC and is then expected to accommodate those who seek refuge from the consequences of that failure,” she tweeted.…

Steinhoff International’s European discount retailer Pepco Group said yesterday that first-quarter revenue had increased after a successful Christmas trading period, and that the opening of new stores would be accelerated. In its first-quarter trading announcement, Pepco Group, owner of the Pepco and Dealz brands in Europe and Poundland in the UK, said group revenue for the first quarter increased by 27% to €1.65 billion (R30.1 billion) on a constant currency basis, up 24% on an actual basis. Pepco said group like-for-like sales climbed by 13% on a constant currency basis, with all brands delivering strong growth. This included like-for-like increases of 4.4% and 19.7% respectively for Poundland and Pepco. According to the group, of which Steinhoff owns 79%, it opened 105 new stores in the quarter and remains on track…

THE number of tourists who visited Durban during the past festive season dropped by almost 200 000 compared with the same period in 2019 as tourists shied away from the city amid concerns about poor water quality at its beaches. According to statistics released by the city yesterday, during this past festive season 702 735 people visited the city, which is a drop compared with 2019, when 900 000 people visited the city. The 2019 figures were referenced as this was the last “normal year” before the spread of the Covid-19 pandemic which led to lockdowns and restrictions that disrupted tourism. Speaking during yesterday’s briefing, mayor Mxolisi Kaunda admitted that the odds were stacked against the city amid sewage pollution that led to the closure of some…

Opposition parties said yesterday that the 18.65% Eskom tariff increase approved by the National Energy Regulator of SA (Nersa) would place a tremendous financial burden on South Africans. Eskom had initially asked for a 32% increase, despite the fact that South Africans have been faced with above-inflation tariff increases for the past five years. Nersa said yesterday that it had approved an 18.65% electricity tariff increase for 2023/2024. “Nersa has approved a total revenue of R300 billion for the 2023/24 financial year, which translates to a tariff of 173.80c/kWh. The percentage increase is 18.65% based on Nersa’s approved tariff of 146.48c/kWh in the 2022/23 financial year.” The DA’s Ghaleb Cachalia described the increase granted to Eskom as absurd, especially as the country grappled with Stage 6 load shedding. “We are…

Even when a painful event is inevitable, sorrow still follows when the guillotine finally drops. Cinemas at most malls are closing down. They have been struggling for some time, and Covid-19 was the final nail that sealed a lot of coffins. If one follows the trajectory that must have begun a long time ago, one can foresee that watching any form of entertainment in a closed hall will eventually be a concept only for the history books. Live drama may have existed even during the Stone Age. Amphitheatres enclosed by mountains and forests could have provided natural halls for entertainment. Surely man needed to amuse himself even in those days after hunting, gathering and warring? Shakespeare did not invent his classics as pieces of literature, but as lowly, basic forms…

The return of the new far-right Israeli government means that South Africa must reassess its policy towards Israel. Incredibly, most Western governments and the media prefer to tiptoe around the issue for various unacceptable reasons bordering on hypocrisy and inconsistency with international norms. However, we can no longer look the other way. The world has rightly ostracised the Taliban government of Afghanistan, but has said nothing or has taken no action vis-a-vis Israel. It is time for South Africa to rescind the visa waiver for Israeli citizens and officials for a start, as well as to register its concerns through official diplomatic channels. We can recall our ambassador and declare the Israeli ambassador a persona non grata as a signal of our concern that Benjamin Netanyahu has declared that his…

A German man who crashed into Lion’s Head in Cape Town with his paraglider on Tuesday afternoon has died from his injuries in hospital. Paramedics had rushed to his aid after the accident, providing advanced life support on site, before he was airlifted to Groote Schuur Hospital. Emergency services, including City Emergency Medical Service (EMS), SAPS Rescue, Mountain Club of South Africa (MSAR), SARZA Western Cape, Wilderness Search and Rescue Resources (WSAR) and ER24, also assisted in the rescue effort. ER24 communications officer Russel Meiring said: “Medics found the man wedged between two large rocks, being tended to by bystanders. He had sustained severe injuries to his head and was in a critical condition. “He was treated and provided with advanced life support interventions before he was airlifted to Groote…

Motorists who use the oThongathi and uMvoti toll plazas on the N2 in KwaZulu-Natal will have to fork out a little extra for travel, with toll fee payments expected to resume next month. The South African National Roads Agency SOC Limited (Sanral) announced that the payment would come into effect from February 1. Sanral eastern region manager Dumisani Nkabinde said this came after the completion of repairs to flood-damaged infrastructure on the R102 and M4 near the two plazas. While toll collection would resume on the N2 oThongathi Mainline and North Ramps and N2 uMvoti Mainline, toll fees on the N2 oThongathi South Ramps would remain suspended until access along the M4 oThongathi River Bridge had been restored, Nkabinde said. Sanral said that last April, it had suspended toll fees…

The family of a teenager who was critically injured in an incident at Durban’s Gateway mall last month, has sought legal advice. In a short statement posted on social media, Kruger Attorneys & Conveyancers Incorporated confirmed that they are assisting the Govender family. Kristin Govender, 15, suffered serious injuries, including spinal damage, and was partially scalped when her hair got caught in the axel of a go-kart while she was go-karting at the popular shopping mall. “Our offices have been appointed by the Govender family to act on behalf of Ms Kristin Govender who sustained serious injuries in a go-karting incident at the Gateway Mall on 28 December 2022. No decision has been made on the course of any litigation proceedings. “At present, our client’s sole priority is for their…

The EFF has filed court papers in the Constitutional Court opposing president Cyril Ramaphosa’s bid to review Parliament’s section 89 panel report, which found there was prima facie evidence that he may have committed “serious misconduct and gross violation of the Constitution” with regard to his alleged involvement after the robbery of millions in undeclared foreign currency at his Phala Phala farm in Limpopo. The panel – consisting of former chief justice Sandile Ngcobo, Thokozile Masipa and Mahlape Sello – was appointed by the National Assembly. However the panel was later overruled by MPs when the ANC used its majority in Parliament to avoid adopting its report, which could have paved the way for an impeachment inquiry against Ramaphosa. In early December last year, Ramaphosa applied to the Constitutional Court…

COVID-19 is bad enough, but it’s not the only virus overpowering our nation. It’s not life-threatening, and although we don’t suffer physical afflictions except some acute diarrhoea, the moral fibre of the community-at-large is being slowly but surely eroded. The main symptom is deep depression. Unlike Covid-19, scientists can’t come up with a vaccine for what I call Crime A1. I toyed with the word Barbaric A1, but I fear being called racist. When do the symptoms kick in? Each time you read of or view a crime report in which perpetrators have committed acts of violence with the sole intent of destroying property earmarked for enriching lives in struggling communities like schools. In the latest one, vandals – not finding luxury items normally associated with richer institutions (this was…

THE United Arab Emirates said yesterday the head of state oil giant Abu Dhabi National Oil Company would lead this year’s COP28 climate summit, fuelling activists’ worries that big industry is hijacking the global response to the environmental crisis. Sultan al-Jaber, also UAE’s minister of industry and technology and its climate envoy, will help shape the conference’s agenda and intergovernmental negotiations to build consensus, his office said in a statement. The UAE, a major Opec oil exporter, will be the second Arab state to host the climate conference after Egypt in 2022. Campaigners and some delegates criticised COP27, saying fossil fuel producers had watered down emission reduction ambitions and benefited from sympathetic treatment from Egypt, a natural gas exporter and frequent recipient of Gulf funds. The Egyptian presidency denied that.…

WASHINGTON/CHICAGO: US airlines said they were expecting operations to return to normal yesterday, as the Federal Aviation Administration (FAA) scrambles to pinpoint the cause of a computer outage that grounded flights nationally and to prevent it from happening again. However, 577 US flights were delayed and 76 were cancelled as of early yesterday morning, according to FlightAware. More than 11 300 flights were delayed or cancelled on Wednesday in the first national grounding of domestic traffic in about two decades. Delta, United, American Airlines and Southwest said that they expected normal operations yesterday. The FAA computer failure prevented airports from filing updated safety notices that warn pilots of potential hazards such as runway closures, equipment outages and construction.…

SOUTH African consumers will be paying a cumulative 33.8% more for electricity consumption over the next 2 years, after the energy regulator granted Eskom its tariff hike application, in spite of the floundering energy supply. The National Energy Regulator of South Africa (Nersa) yesterday granted Eskom a 18.65% electricity tariff increase for the 2023/24 financial year, starting on April 1, and 12.74% for the 2024/25 financial year. Nersa announced its decision on Eskom’s Fifth Multi-Year Price Determination (MYPD5) allowable revenue application for the 2023/24 and 2024/25 financial years. Eskom’s application for the 2023/24 financial year’s revenue was R351 billion, including Regulatory Clearing Accounts (RCAs) and court orders. However, the regulator approved allowable revenue of R318bn after considering adjustments for inefficiencies and prudency reviews. For the 2023/24 financial year, Nersa approved…

NEWLY unemployed Goldman Sachs workers are tapping head-hunters after losing their jobs in its biggest restructuring since the 2008/9 financial crisis, with a sluggish global economy set to make finding comparable roles a challenge, sources said. Goldman stepped up laying off staff on Wednesday in a sweeping cost-cutting drive, with around a third of those affected coming from the investment banking and the global markets division, a source familiar with the matter said. The Wall Street titan’s rivals have also started to cut jobs as global banks prepare for recession and broader, deeper cuts are expected across the industry if deal-making activity remains weak. At least 5 000 people are at risk of layoffs from various banks. In addition to around 3 200 from Goldman, Morgan Stanley has cut about…

While the Department of Higher Education and Training has given its assurance that the late release of matric results will not affect the state of readiness for the 2023 academic year, at least one KwaZulu-Natal university said registration for first-years would have to be processed in a two-week period, Quality assurance council Umalusi said the late release of matric results was due to the Covid-19 pandemic, which had affected the school calendar. Noxolo Memela, a communications manager at the Durban University of Technology (DUT), said the delay in releasing the results had affected the time frame for registration. “It will only allow us to have two weeks to complete the 2023 first-year registration, which will be between Monday, January 23 and February 3.” Memela added that lectures at DUT were…

IT’S a day of friggatriskaidekaphobia. Alternatively paraskevidekatriaphobia. You never know, a Two-ton Tess might drop on you from the rafters in the Street Shelter for the Over-Forties. Er, I suppose we need to sort out this Latin and Greek nomenclature. Frigga refers to the Norse god for which Friday is named and triskaidekaphobia means fear of the number 13. In the Greek version, paraskevi means Friday, dekatria refers to “thirteen”, and phobia of course is “fear”. Yes folks, it’s Friday the Thirteenth, so be wary in the Street Shelter of damsels dropping from the rafters, whatever their tonnage; be wary of wagers offering unbelievable returns should the Proteas win their next Test encounter by an innings and 800 runs; don’t pat hyenas in the high street. Be cautious, take no…

A few days ago, the eThekwini Municipality issued all kinds of assurances to Durban residents that tap water is not polluted and is safe for human consumption. Well, if this is the case, then why don’t all our leaders and government officials drink it? For example, I watched on TV the speech of President Ramaphosa after he was re-elected as the ANC president at its conference a few weeks ago, where I noticed that there were hundreds of plastic bottles of purified water at the tables of the leaders and members of the party. I wonder: why didn’t they put jars of tap water with glasses on the tables instead. I also see the same practice of drinking purified bottled water at the offices of the top staff inside the…

Now that schools will start next week, the police and schools must take the initiative with a strong message against bullying and the use of illegal substances. Bullying and drug abuse have reached epic proportions among the most vulnerable – our children. Sadly, times have changed radically so that we as parents need to overcome the challenges of a new generation. The travesty of drugs and bullying and its consequences in our schools should rightfully be dealt with at all levels. We, as parents and the community at large, need to be part of the schools and institutions. Abuse of drugs, alco hol and bullying have become a norm in many schools and homes. It is also very disturbing to note that there is a shortage of youth leaders and…

THE local potato industry has assured South Africans that it would be able to meet local demand for French fries after heavy “anti-dumping” duties were imposed by the International Trade Administration Commission (Itac) in July last year on Belgium, German and Dutch suppliers. When the duties were announced there was concern that South Africans could face a severe shortage of French fries as it curbed imports from its usual European frozen chips markets. But Potatoes SA acting marketing manager Jaco Koekemoer said that the country had a sufficient supply of fresh potatoes, with forecasts looking promising over the next 12 months. Koekemoer said: “There is ample produce to meet frozen chip manufacturing demand, and satisfy customer and retail appetites. What’s more, there are 16 potato production regions across South…

A national task force that will focus on safety and security at institutions of higher learning will be established. This was announced by Higher Education and Training Minister Blade Nzimande at a media briefing this week, at the University of Fort Hare (UFH) after a meeting with the institution’s council. This comes after vice-chancellor (VC), Professor Sakhela Buhlungu’s executive protection officer, Mboneli Vesele, was shot dead on Friday outside the professor’s house, in an alleged bid to kill Buhlungu. In an interview on Tuesday, Buhlungu questioned where the much-needed national government interventions and visits were last year, after suspects fired shots at his house and the house of another executive. Fleet manager Petrus Roets was also murdered in broad daylight. Minister in the Presidency Mondli Gungubele admitted that the government…

Hot, sunny conditions have been forecast for KwaZulu-Natal this weekend. According to the South African Weather Service (Saws), temperatures are expected to peak at 29ºC to 30ºC. Ayanda Nsele, a forecaster based in KZN, said the high temperatures were due to a high-pressure system. Senior lecturer and agrometeorologist at the University of KwaZulu-Natal, Professor Alistair Clulow, said the hot weather being forecast was normal for this time of year. Clulow advised people to take precautions in the heat as it could lead to dehydration, with the elderly being most at risk. “This heat can cause a person to experience heat stress that could lead to dehydration and possibly death, especially for the elderly. KZN has high humidity, which causes the heat index to be high. This can lead to your…

Umgungundlovu District Municipality, in the KwaZulu-Natal Midlands, has been accused of wasting much-needed funds on a junket shortly after imposing high water tariffs on residents. Officials and some of its councillors were booked at a resort in the Drakensberg for a three-day strategy session. The district is comprised of seven municipalities – uMshwathi; uMngeni; Mpofana; Impendle; Msunduzi; Mkhambathini and Richmond. The Mercury understands that 11 district councillors attended the strategy session, along with the mayor, four heads of department and the municipal manager. The DA’s Hazel Lake slammed the session, saying the council was spending money it didn’t have and could’ve used council chambers to limit the costs. “The DA in uMgungundlovu has refused to participate in a three-day annual strategic planning meeting at a top holiday resort in the…

Senegal: Fourteen Malian soldiers were killed in a clash with jihadists this week, the army said yesterday, giving a new toll. Fighting erupted when an army unit was hit by roadside bombs between the towns of Mopti and Segou in central Mali. In a statement yesterday, the army said 14 soldiers died and 11 were wounded, while 31 “terrorists” were killed. On Wednesday, army and police officers, speaking on condition of anonymity, said at least 12 soldiers had died. Mali is in the throes of a nearly 11-year-old security crisis triggered by a regional revolt in the north that developed into a full-blown jihadist insurgency. The insurgency spread to Niger and Burkina Faso in 2015 and has been followed by sporadic attacks on countries to the south, along the Gulf…

KAIZER Chiefs can kickstart their resurgence with a win against struggling AmaZulu at the Moses Mabhida Stadium tonight. That is, at least, the expectation of their fans that were certain Amakhosi had turned the corner prior to losing their last game 1-0 against Sekhukhune United. Chiefs had beaten their Soweto rivals Orlando Pirates and Golden Arrows before the shock defeat to Sekhukhune. Chiefs coach Arthur Zwane took it on the chin and his comments suggested that he was interested in the bigger picture of rebuilding the Glamour Boys. A win against Usuthu could potentially see Chiefs go equal on points with second-placed SuperSport United. But Zwane will know that AmaZulu are a desperate side with their coach Romain Folz still looking to impress his bosses. The French-Moroccan manager has…

Chaos! This has been the message from most of the rock and surf fishermen that have been fishing in northern KZN. The North Coast has been a hive of fishing activity. The diamonds and sharks have kept the guys busy over the past week with hectic action on most of the days after some north east wind. Mackerel (if you can get) has been the bait of choice with bonito coming a close second but bait has not been too much of an issue as the fish have been greedy. The two main traces have been the stock standard nylon (1mm Maxima or Kingfisher leader) to a single 8/0 Maruto off set circle hook (348). This is perfect if you are only after the diamonds. If you want to target…