Star 2024-09-05의 목차

SPAR GROUP’S turnaround plans gathered pace with the conclusion of a sale agreement for the disposal of Spar Poland to local Polish retailer Specjal for about R3 billion. The sale of Spar Poland was for PLN40 million (Polish zloty or R185m), while Spar would be required to recapitalise the business, which is estimated to cost PLN586 446 288 (R2.7 billion), the majority of which would be achieved by Spar settling the business’s funding debt, a statement said yesterday. Specjal is a Polish retailer and wholesaler established in 1990 with a reputation for growth and innovation, a statement from Spar said yesterday. The widely anticipated deal provides certainty for Spar investors, removes loss-making business from the balance sheet and allows Spar to focus resources into its…

THE INTERNATIONAL Monetary Fund (IMF) said yesterday that South Africa had an opportunity to take advantage of its new dispensation to “implement bold reforms to address long-standing challenges and achieve the economy’s full potential”. The IMF, which was in South Africa between July 1 and 8, made this statement following the conclusion of its Post Financing Assessment discussions with the National Treasury. Its position is broadly in line with that of most market commentators, who see the recently formed Government of National Unity (GNU) as an opportunity to restore confidence in South Africa through the introduction of policies that will remove bottlenecks and fast-track growth. Noting that South Africa continues to face persistent structural challenges, the IMF said that the government had the chance to “turn the economy around from…

DR IQBAL Survé, the Executive Chairperson of Independent Media and the Sekunjalo Group, has emerged as a pivotal figure in the Belt and Road Initiative (BRI), playing a critical role in bridging Africa with the vast opportunities presented by this global development strategy. His involvement in the BRI spans several years, during which he has consistently advocated for the initiative’s potential to transform not just economies but the global narrative around co-operation, inclusivity, and shared prosperity. The Belt and Road Initiative, proposed by Chinese President Xi Jinping, is widely regarded as one of the most ambitious global projects of the 21st century. By revitalising the ancient Silk Road, the BRI seeks to create a network of trade and infrastructure projects that span Asia, Africa, and Europe. It is more than…

CELEBRATING South Africa’s heritage and spotting a gap in the market is what led a creative graphic designer from Gauteng to launch her clothing label. Darshana Makan told Business Report that while looking for comfortable Indian clothes for her twins to wear, she realised that the materials used were not comfortable and that was how her journey into entrepreneurship began. Makan, who started her company in July 2018, said: “ ‘Jodiya’ means ‘twins’ in Gujerati, which is half my heritage, as I am also South African. Jodiya was inspired by my twin girls, so I could not have thought of a better fit. “It started more as a side hustle while still doing full-time freelancing as a graphic designer, but about two years ago, Jodiya became a lot more demanding,…

WOOLWORTHS Holdings’ management said yesterday they were confident they could deliver against their strategies and the group was well placed to benefit from any cyclical consumer recovery. The group yesterday reported a 15.2% decline in the dividend for the 53 weeks to June 30, to 265.5 cents per share, but the balance sheet remained robust, the group was highly cash generative, and its management said they were leveraging “our strengthened foundations to optimise our existing businesses and invest in new sources and avenues of growth”. In the period under review, turnover and concession sales increased 4.3% to R76.4 billion. Woolworths Food delivered the standout performance with highest like-for-like sales growth in sector and double-digit profit growth. Woolworths South Africa delivered a solid result, with turnover growth of 6.7%…

Following a viral cheating scandal with cheesecake at the centre of it, Sonia Booth has described herself as a “Phoenix rising from the ashes”. The businesswoman and former TV star explained during a recent interview with Radio 2000 that, after an almost two-year divorce battle, she is finally free from her ex-husband, Matthew Booth. While she is ready for a new chapter in her life, she said the divorce process took an immense emotional toll on her. “The divorce was granted only just less than two months ago,” Sonia said. “It was a year and five months of a legal battle, heavily contested and (it was) nasty. “It drained me emotionally, physically and financially but I think all that was necessary because I was not about to settle under terms…

GERMAN national carrier Lufthansa Group has launched a new long-haul, non-stop flight from Johannesburg to Munich after a 19-year hiatus in a bid to boost the economies of South Africa and Germany. The inaugural flight landed at OR Tambo International Airport on Tuesday morning, with the touchdown of a Lufthansa Airbus A350. It marks a significant addition to Lufthansa’s network as 34% more seats are offered from Johannesburg. The Munich route, one of Lufthansa’s two major hubs, opens up around 130 global destinations for South African travellers, including Europe, America, Asia and the Middle East. The route had been part of Lufthansa’s schedule until 2005 and is poised to reconnect South Africa to one of Germany’s most important economic centres. Lufthansa CEO Jens Ritter said Munich was a convenient hub…

The City of Johannesburg unveiled a revamped 65-year-old power substation at Eldorado Park, south of Johannesburg, on Tuesday. The metro’s power utility, City Power, renewed the old substation following mounting calls from community members about habitual electricity cuts. According to a community member, Geraldine, the renovation of the substation has been awaited since the days of Herman Mashaba’s mayorship. “The substation has been standing for a long time since Herman Mashaba (was mayor). “We have had no electricity for close to 21 days as a community. We promise to pay for municipal services to get revenue for the city,” said Geraldine. In attendance at the launch were newly elected mayor Dada Morero, the MMC for Finance, Margaret Arnolds, and the MMC for Environment and Infrastructure Services, Jack…

THE University of Joburg’s Faculty of Humanities in conjunction with the consul-general of China recently celebrated the role played by women in different societies. The event marked the end of Women’s Month. August is set aside as Women’s Month in South Africa, marking the 68th anniversary of the historic march of thousands of South African women from all walks of life to the Union Buildings in 1956 in protest against the introduction of apartheid pass laws for black women in 1952. The month-long commemoration in South Africa takes stock of the achievements and challenges that remain, while mobilising support for the further development of women. For his part, President Cyril Ramaphosa led the annual Women’s Day celebrations in Pofadder, Northern Cape, on August 9. At the UJ Women’s Month event,…

Suzuki Auto South Africa have ripped the covers off the all-new Swift. The new-generation hatchback is set to go on sale locally around November, with Suzuki confirming that five variants will be available at launch. All will be powered by a brand new 1.2-litre three-cylinder normally aspirated petrol engine, which offers up 60kW and 112Nm. Suzuki says the torque is available over a wider range thanks to a new multi-point injection system. For the record, the current 1.2 four-cylinder unit that it replaces produces 61kW and 113Nm. The new Suzuki Swift will be available in three specification grades: GL, GL+ and GLX, with the latter two optionally available with a new CVT gearbox as an alternative to the standard five-speed manual. The list of comfort and safety features has been…

Despite consistent pressure and market challenges in the automotive industry, sales of Chinese cars are defying the trend. According to Standard Bank’s sales data, cars financed by the bank have increased year-on-year since 2022, increasing from 6% in 2022 to 7.4% in the first half of 2024. The head of automotive retail at Standard Bank Vehicle and Asset Finance, Derick de Vries, said it was an intriguing trend considering the broader decline in new vehicle sales locally. “Even though Chinese brands currently represent less than 10% of our retail sales, their upward trajectory is remarkable given the challenging market conditions,” he said. GWM Haval, is the most popular Chinese brand financed by Standard Bank since 2022 followed by Chery and BAIC. The Automotive Business Council’s quarterly reviews confirm that year-on-year…

IN an international season that was unique for South Africa Women’s most experienced active player Marizanne Kapp, one where the all-rounder hardly had the ball in hand in the green and gold, the 34-year-old still proved her worth with the bat. It must be a shock to her system to go from often taking the new ball and batting at the top of the order across all formats, to hardly bowling at all during the multi-format tour of India. However, Kapp’s batting performances led to her nomination for tonight’s Cricket South Africa (CSA) Awards. She is nominated for the Women’s ODI Player of the Year and overall Player of the Year awards. Laura Wolvaardt is also nominated in both categories. Kapp has slowly returned to bowling through The Hundred tournament…

THE FOSCHINI Group (TFG) said yesterday its group gross margin increased by more than 100 basis points for the 21 weeks ended August 24 when compared with the same period in 2023, despite 3.5% lower sales as margins improved across all territories. Gross margin for TFG Africa increased by 200 basis points against a decline in sales of 1% (like-for-like decline of 2.6%), mainly due to high clearance activity during the prior period and the late start to winter in South Africa, a trading statement said. The result of the higher margin, despite the normalised sales activity, meant TFG Africa achieved a gross profit record of R5.9 billion, up 4% on the prior period. Group online sales grew 7.8% and contributed 10.8% to total sales; the growth largely attributable…

SOUTH Africa’s liquefied petroleum gas (LPG) day zero, predicted for June 2026 after Sasol announced it would stop supplying gas from Mozambique, has been averted by an innovative partnership between Transnet Freight Rail (TFR) and Singaporean company, Petredec, in which the LPG logistics firm will introduce South Africa’s first scheduled LPG train system, with each 75-wagon trainset capable of transporting more than 2 500 tons of LPG. Initially operating up to three times per week, the arrangement is expected to plug the void anticipated to gape open on the back of Sasol’s announcement last year that it will be halting supply to downstream consumers from 2026, partly because it had failed to find sufficient reserves to replace an anticipated tapering of supply from southern Mozambique and partly because Sasol…

STANDARD Bank yesterday said the proportion of Chinese cars being sold in South Africa is on the increase, highlighting popularity of vehicle brands from the Asian country against the backdrop of data from the Automotive Business Council (Naamsa), which showed SA car sales volumes declining in the second quarter. The South African auto industry is banking on interest cuts expected for later this month to boost vehicle sales volumes. This after the country’s auto sales for the month of August slumped by 4.9% compared to the same month a year ago. According to Naamsa, aggregate domestic new vehicle sales in August fell by 2 266 units to 43 588 units, down from the 45 854 vehicles sold in August 2023. In spite of this, Chinese car brands…

ALTHOUGH the improvements in energy supply by Eskom have provided much respite for mining companies that are energy-intensive, mining houses remain concerned by the higher winter electricity tariffs that run from July to August and which have resulted in elevated input costs. South African miners had over the past few years been affected by load shedding. However, Eskom has managed sustainable power supply over the past five months, bringing much relief to the miners. The miners are now having to do with the higher cost of electricity supply, especially under the winter tariff dispensation. The Minerals Council South Africa said yesterday that the electricity “cost trajectory remains a concern” for the industry as it was driving up costs. “Electricity costs have emerged as the primary driver of input cost inflation,…

WITHOUT giving away too much, the act of forgetting serves as a major plot pivot in Blink Twice. Ironically, that’s what Zoë Kravitz’s debut as a writer-director requires of an audience. Just don’t remember that you’ve seen Get Out, Midsommar, Don’t Worry Darling, Promising Young Woman and/or Glass Onion: A Knives Out Mystery, and you should be fine. True, there seem to be few original ideas left and none whatsoever in Hollywood, and true, worn-out plots can be made to seem brand new with enough style and smarts. And Blink Twice certainly has style. What it doesn’t have is a lick of sense. As is often the case with movies directed by actors (Kravitz has been in everything from TV’s Big Little Lies to 2022’s The Batman), the casting is…

THE SOURING relationship between the ANC and its alliance partners seems to be a reality after the SACP’s youth wing, the Young Communist League, threatened to contest elections on its own. And if that were not enough evidence of a deterioration of the pact, ANC Youth League (ANCYL) president Collen Malatji took a swipe at SACP general-secretary Solly Mapaila, saying he should focus on forming his own structures and stop hiding behind the ANC before calling the party “sell-outs”. Malatji believed that a statement by Mapaila was populist, saying that if he had a problem with the structure of the Government of National Unity (GNU), he should immediately withdraw their deployees and prepare to win the next elections on their own, so they could implement their own policies without the…

ACTIONSA confirmed on Tuesday that it had lodged a legal complaint against the Electoral Commission of South Africa (IEC) as well as the ANC for the commission’s failure to investigate the more than R100 million the ANC allegedly paid to KZN printing company Ezulweni Investments. Last year, the ANC reached an out-of-court settlement with the company following years of a back-and-forth legal spats. The company was owed millions of rand for work it did for the ANC during its 2019 election campaign. In a statement by ActionSA national chairperson Michael Beaumont, the party accused the commission of flip-flopping on its initial commitment to investigate the over R150m Ezulweni debt settlement agreement. The party also announced new complaints to the IEC against the EFF and the MK Party (MKP) over their…

Johannesburg has become a shadow of its former self and is now riddled with crime, illegal immigrants and abandoned buildings, which are a death trap for the homeless. Most of the abandoned building are occupied by low-income, unemployed, and disadvantaged people. They live in life-threatening, crowded conditions with their families, mostly without water and sanitation facilities, or electricity. Inside these buildings, privacy and safety are not guaranteed as many of the units are divided by boards, curtains, and wooden walls. Residents blame the government for its inability and failure to provide adequate housing for the people who are struggling to survive. Last year in August, a fire ripped through the Usindiso Ministries for Women and Children, a five-storey building in the Johannesburg CBD, killing at least 77 people. In June…

South Africa’s newest Chinese brand, GAC Motor, has announced its second product for the country and it’s certainly a head-turner. Revealed at a glitzy event staged by the brand’s local importer, Salvador Caetano Group, at Melrose Arch in Johannesburg, the GAC Emkoo joins the smaller Emzoom that was announced to local media earlier in August. Slotting above the latter, the Emkoo boasts an even bolder exterior design, with striking V-shaped grille elements, triple-element headlights and a coupe-inspired silhouette. The 4.68-metre-long crossover is not too dissimilar in concept to Haval’s H6 GT. Set to go on sale this month, the Emkoo is available in two variants, with the Executive model priced at R599 900 and the Executive Plus stickered at R659 900. As per the smaller Emzoom, the Emkoo is powered…

With the all-new, seventh-generation Patrol, revealed in Abu Dhabi this week, Nissan is gearing up for a monumental brawl with Toyota’s Land Cruiser 300. However that fight might play out over the deserts of the Middle East and various landscapes across the globe, Patrol drivers will certainly experience it in the lap of luxury, thanks to a feature-packed, hi-tech cabin. The Nissan Patrol also debuts a new 3.5-litre twin-turbo V6 engine, offering up 317kW and 700Nm, which Nissan says is more efficient than the V8 it replaces. The new six pot pairs with a nine-speed automatic gearbox and four-wheel drive system. The company will also offer a 3.8-litre normally aspirated V6 with 236kW, but sadly there’s no mention of a diesel engine becoming available. Air suspension is standard in the…

I have wondered about the connection between energy and our emotional responses. Just as there’s often more to something than meets the eye, we can walk into a room and feel an eerie atmosphere that’s difficult to explain. Just as energy can be hidden within matter waiting to be tapped into, have we also been sensing the energy of those around us? The unseen force could be shaping our emotions, influencing our moods and altering the atmosphere of the spaces we inhabit. In this article, we explore sensing the energies of those around us and its effect on our overall well-being. Why do we instantly click with someone or feel uneasy around them, without knowing why? Maybe our gut feeling or instinctive sense is telling us something? It’s as if…

SENTIMENT in the business sector remained in the contractionary territory in the third quarter of 2024 in spite of gradually improving as a result of structural reforms embarked on by the Government of National Unity (GNU). The RMB/BER Business Confidence Index (BCI), released yesterday, rose by another three points to reach 38 points in the third quarter, still below the 50-points mark that separates contraction from expansion, following a five-point increase in the second quarter. This is the first business sentiment survey in South Africa following the formation of the GNU and reflects cautious optimism about improving business conditions. RMB said that although respondents still noted constraints, especially weak demand, they were less negative about current conditions and, encouragingly, were more upbeat about business conditions going forward. For the…

SOUTH Africa faces a clear choice. Does it want a thriving and competitive domestic world-class steel industry, or to become dependent on the vagaries of dominant international producers and imports? Given the strategic importance and high multiplier effects of the primary steel industry, as well as the huge cost of establishing, renewing and replacing a domestic steel industry, there can be no ambiguity. The costs of losing steel manufacturing capacity are enormous and extend way beyond purely financial considerations. For some local importers, the competitive price advantage they claim to gain from cheap subsidised imports should be seen for what it is, self-interested short-term commercial benefit. That the South African primary steel industry (which consists of 15 primary steel producers and two rerollers) is facing severe challenges is indisput- able.…

PRESIDENT Cyril Ramaphosa said yesterday that South Africa was planning to move from being a large importer of manufactured products to being a major exporter. Speaking at the South Africa-China Business Forum meeting that took place on the margins of a State visit and the Forum on China-Africa Co-operation Summit yesterday, he said that they had seen this happen in South Africa’s automotive industry. “Chinese companies will find there are innumerable business opportunities to manufacture products in South Africa using our excellent industrial experience and capabilities,” he said. Ramaphosa said South Africa had ambitious plans to modernise its infrastructure by investing in the expansion of ports, rail and road networks. He also said they were on a path to revo- lutionise the local energy sector in pursuit of low-carbon, climate-resilient…

SPRING is a time of renewal, and as the season approaches, it’s an excellent opportunity to breathe new life into your business. Just as we tidy up our homes, businesses can also benefit from a thorough “spring clean”. This annual ritual isn’t just about physically decluttering; it’s also about refreshing your strategy, processes and mindset to ensure your business is in tip-top shape for the challenges and op- portunities ahead. Here are five practical steps to spring clean your business: Review your business goals We typically set our business goals at the beginning of the year, but as the months go by, it’s easy to lose sight of them amidst the daily grind. Spring is the perfect time to revisit those goals. Are they still relevant? Have market conditions changed?…

CASHBUILD, one of southern Africa’s largest building materials and associated product retailers, said trading volumes ticked up in the fourth quarter of its year to June 30 and the trend had continued into the first six weeks of the new financial year. Cashbuild operations director Shane Thoresson said they were cautiously optimistic about prospects following the past two years where revenue growth was slow due to the constrained consumer environment and tough competition in the market, particularly from independently owned stores. He said introduction of the Two-Pot pension fund system, the establishment of the Government of National Unity, and much-needed infrastructure programmes had the potential to boost trading in 2025. In addition, the possibility of interest rates cuts towards the end of the year could lift consumer spending. The 53-week…

The highly anticipated amapiano hit single, Amalanga Awafani, has officially been released but Mas Musiq and Lawd Weezy didn’t get the response they expected. Fans dragged them for crediting everyone featured on the song, including DJ Maphorisa and TO Starquality, except Samthing Soweto. What annoyed many people was that they used Soweto’s vocals but failed to credit him. After the song was recorded a few months back, it couldn’t be released because Soweto wanted his share of the master and ownership rights. “People need to learn how to share masters. We don’t work for each other, we work with each other,” said the Nodoli hitmaker in July when his fans asked him about the release date of the song. When they released the song without crediting him this week, the…

THE EFF is bleeding comrades after one of its estranged members, Floyd Shivambu’s ally Mpho Morolane left the party’s headquarters, Winnie Madikizela House, to allegedly follow his mentor. Speculation is rife that he is set to join the MK Party which recently recruited former EFF deputy president Shivambu, and Mzwanele Manyi, among many others. Morolane, the former leader of the EFF Student Command (EFFSC), has become the latest EFF member to quit the party. Yesterday afternoon, Morolane ended all speculation when he posted a picture of himself in MK Party regalia, saying: “A conscious decision taken to pursue the liberation of African people, Mkhonto weSizwe is my new political home.” Yesterday, Morolane in his resignation letter, addressed to the party’s secretary-general, Marshall Dlamini, and circulated on social media, revealed that…

The Deputy Minister of Human Settlements, Tandi Mahambehlala, is leading a South African delegation to the inaugural Africa Urban Forum in Ethiopia this week. The forum is a continental platform that seeks to promote sustainable development in human settlements on the continent. This year’s forum will be convened under the theme of “Sustainable Urbanisation for Africa’s Transformation: Agenda 2063”. The forum concludes tomorrow. According to the Human Settlements Department, the forum was established by the AU Commission in 2022. The department’s spokesperson, Nozuko Zulu, said: “The objectives of the forum include raising the profile of urbanisation as an imperative for sustainable and resilient development in Africa. “It also aims to support inclusive and participatory human settlement development in Africa’s structural transformation and attainment of Agenda 2063, and facilitating dialogues and…

IT WAS finally possible for The Star to catch up with African Commission on Energy (Afcone) executive secretary Enobot Agboraw for an exclusive interview following our report last week on Zaheer Laher, the acting director-general at the Department of International Relations and Co-operation (Dirco), who is accused of allegedly violating the governance of Afcone. Agboraw has been the subject of Dirco’s wrath in previous weeks after the department irregularly terminated his diplomatic immunity and privileges and even stopped payment to Afcone and its South African staff. A source inside Dirco has revealed to The Star that this conflict had been kept from Minister Ronald Lamola for several months. In a recent letter to Lamola, seen by The Star, Afcone informed the minister that Zaheer Laher “may be planning, in…

A mother has lauded the educational programme available to children receiving cancer treatment in Pretoria hospitals, acknowledging its vital support for her child’s ongoing education. Sbongile Tshabalala, whose 12-year-old daughter is a patient, praised the program for enabling her daughter to stay current with her schoolwork, thanks to the efforts of educators and the use of technology. “My daughter can now continue her schooling while undergoing treatment, thanks to the dedicated educators and technology,” she said. The programme was introduced by the Dr George Mukhari as well as Steve Biko academic hospitals in Tshwane. It was launched this week by the Gauteng Department of Health, in collaboration with Choc Childhood Cancer Foundation SA, iSchool Africa and Core Group, equips children with iPads loaded with educational material, allowing them to continue…

When a species becomes extinct in the wild, the loss is permanent. For Africa, a serious loss is the extinction of the Tanzanian Kihansi spray toad (Nectophrynoides asperginis) due to habitat change and infectious disease. This should serve as a wake-up call for policy makers to prioritise and implement conservation measures for endangered species. Found only in the Udzungwa Mountains, the species experienced a population decline after the construction of the Lower Kihansi Hydropower project and an outbreak of a fungal disease. This is according to a study co-authored by Professor Ché Weldon of the North-West University’s (NWU’s) subject group Zoology. The hydropower project reduced water flow in the toads’ habitat tenfold, and by March 2001 the population had dropped to fewer than 2 000 toads. Although restoration efforts increased…

The Volkswagen T-Cross, which is the brand’s best-selling SUV in South Africa, has been given a refresh. The upgraded model, which made its local debut at the Festival of Motoring at Kyalami, is now on sale. Prices start at R462 200 for the 1.0 TSI Life, with the Style version coming in at R501 300 and the R-Line topping the pile at R533 100. All are powered by the 85kW and 200Nm version of Volkswagen’s 1.0-litre three-cylinder turbopetrol engine, paired exclusively with DSG dual-clutch transmission across the board. This means the 1.0 TSI 70kW and 1.5 TSI 110kW engine options fall away. Externally we see a fresh front bumper design with new patterns in the upper and lower grille. LED headlights are now standard on the base model, while the…

BAIC South Africa has launched the Beijing X55 Plus in South Africa, which is an upgraded version of X55 that was first introduced in late 2022. It boasts subtle design changes including new “Blade” design alloy wheels and quad exhaust outlets. Prices remain the same as the outgoing version, with the X55 Plus 1.5T Dynamic kicking things off at R429900 and the midrange Elite priced at R469900. Topping the range is the Premium, priced at R509900, or R514900 for the two-tone version. The revised vehicle boasts a full black interior, equipped with an enhanced range of features, including Easy Connection, which allows for phone mirroring on the infotainment screen. All models are powered by a 1.5-litre turbopetrol engine that pushes 130kW and 305Nm. It pairs with a seven-speed dual-clutch gearbox.…

IT was about time the Springboks and the All Blacks decided to bring back three-Test bilateral tours. For the first time in 30 years, the arch rivals are set to tour each other in 2026 and 2030 in an expanded Test series dubbed ‘The Greatest Rivalry’, it was confirmed this week. Although not yet fixed on the international rugby calendar, plans are moving swiftly to realise the tours, which could be a financial saving grace for both countries. The All Blacks will tour South Africa first, with three Tests and midweek matches against the four United Rugby Championship sides, the Stormers, Sharks, Bulls and Lions. The Springboks will then tour New Zealand in 2030 and it will include friendly matches most likely against the Kiwi Super Rugby teams. What that…