Star 2024-12-18의 목차

The capital will accelerate expansion, enhance its technology Brazilian digital banking group, Nubank, a publicly-traded company on the New York Stock Exchange, has invested $150 million (R2.69 billion) in South African-born fintech, Tyme Group. Tyme Group, a global digital banking group head-quartered in Singapore and backed by South Africa Africa Rainbow Capital (ARC), operates two high-growth digital banks: TymeBank in South Africa and GoTyme Bank in the Philippines. The deal with Nubank was part of a successful $250m capital raise. The capital will accelerate Tyme Group’s expansion, enhance its technology platform and strengthen its position in key markets. Its ambition is to be a top three retail bank in South Africa within the next three years, and list on the stock exchange by 2028, said the lead shareholder in Tyme…

The sale of one of the largest owners, operators and developers of masts and towers infrastructure in the South African market to a consortium in which Royal Bafokeng Holdings (RBH) has a stake in a R6.75 billion deal gives Telkom even more room to expand its mobile and fibre business. The State-owned telecoms company yesterday said it had received the go-ahead from the Independent Communications Authority of South Africa (Icsasa) to sell its masts and towers business, Swiftnet, to Actis and RBH. Telkom’s shares were flat on the news, but closed 1.7% lower to R34.87 per share yesterday. Actis is a global investor in sustainable infrastructure focused on the energy, infrastructure, and real estate sectors. RBH will have a minimum 30% stake. This was the last regulatory requirement after the…

In a world where fast fashion, which is responsible for 10% of all the world’s carbon emissions, floods landfills and sharpens social divides, creativity can elevate fashion to become a force for good. By integrating circular economy principles with grassroots action we can tackle two of the world’s most pressing challenges: environmental degradation and social inequality. Fast fashion, fuelled by rapid consumption and disposable trends, is responsible for a tenth of global carbon emissions, according to the United Nations. It produces more carbon emissions than air travel. How much is this? According to the Carbon Literacy Project that equates to 1.2 billion tons of carbon emissions a year. It also contributes to overflowing landfills around the world, with millions of barely worn garments discarded every year. In the UK alone,…

Metair, the JSE-listed automotive component and energy storage group, has made good progress in its strategy to diversify geographically and in its products, CEO Paul O’ Flaherty said yesterday. The group yesterday announced the finalisation of the AutoZone acquisition and it also provided updates on the disposal of the battery manufacturer in Turkey, Mutlu Akü, as well as its debt restructuring. All necessary approvals, including those from South African competition authorities and lenders, had been obtained for the acquisition of AutoZone. “This acquisition is pivotal for Metair. It not only enhances our strategic position within the automotive sector, but also aligns perfectly with the growing opportunities within the South African used vehicle market and the expanding aftermarket landscape,” O’Flaherty said. “Through this acquisition, we are well-equipped to elevate our automotive…

The rand plunged to its weakest in two weeks by 1.6% to R18.14 against the US dollar yesterday ahead of the last US Federal Reserve (Fed) decision for the year on interest rates as the greenback strengthened. This was the rand’s weakest since December 4 when it was R18.17 to the US dollar. The Fed is expected to announce another 25 basis points reduction in the fed funds rate tomorrow and provide new economic and policy forecasts. Markets are currently pricing in three more rate cuts next year, with some expecting a pause in rate cuts in January. However, deVere Group CEO, Nigel Green, yesterday said the Fed will not cut interest rates in the first half of 2025 even if it does so today, thus, investors must act with…

Kristen Bell is to host the SAG Awards 2025. The 44-year-old actress last hosted the annual Screen Actors Guild ceremony in 2018 and is “thrilled” that she will be fronting them once again when the showbiz night streams on Netflix on February 23 next year. She said in a statement: “Thrilled to be hosting the SAG Awards again this year. I’m honoured to be asked back and can’t wait to share the evening with my fellow actors, doing what we do best ... celebrating ourselves.” Last year, Idris Elba was at the helm of the ceremony, and executive producer Jon Brockett is pleased that the Frozen star has agreed to come back on board. He said: “Kristen Bell’s wit, warmth and charm make her the perfect fit for our show…

The South African Banking Risk Information Centre (Sabric) is raising the alarm about a disquieting rise in financial crime that may put a dampener on the festive season for many South Africans. It is revealed that the recently published 2023 Annual Crime Statistics Report outlines a staggering economic loss of almost R3.3 billion due to these crimes. The most alarming increase has been recorded in cybercrime, as Sabric reports that criminals are now leveraging advanced technologies, including generative artificial intelligence (AI), to concoct increasingly sophisticated fraud schemes. These include deceptive emails and deep fake content, which have the potential to mislead even the most vigilant individuals. Another distressing trend highlighted in the report is the rise in fraudulent financial product applications. Turn to page 2 It is explained that scammers…

Dr Mbuyiseni Ndlozi, the EFF’s former spokesperson, has broken his silence on social media amid the turmoil brought about by his leader Julius Malema, who referred to him as a person driven by his ego rather than being fit to be an EFF leader. Ndlozi put a statement on X (formerly Twitter), expressing gratitude and wishing the elected leadership well. “Congratulations to the newly elected leadership. We wish them strength and wisdom. Remember the duty to always conduct ourselves honestly and honourably in dealing with the EFF and the broader public. May you lead us all with dignity,” he posted. People on the micro-blogging platform have remarked that the politician acted graciously despite being snubbed by Malema. “Mbuyiseni is the epitome of emotional intelligence. Wow,” posted one X user. Another…

South Africa’s best emerging filmmakers were honoured by the 12th Emerging Filmmakers Awards (AEFA) this weekend. Durban was ablaze with creativity and inspiration, as South Africa’s best emerging filmmakers gathered to celebrate their craft. Hosted on Saturday, the prestigious ceremony drew a crowd of some of the nation’s most celebrated actors and actresses, with the charming Nonkanyiso Laconco Conco taking centre stage as the host. Andile Buwa, the founder of the AEFA, delivered an impassioned toast, reflecting on the importance of recognising new talent in South Africa’s film industry. “We are thrilled to announce this year’s winners, who represent the best of emerging talent in South African filmmaking. We congratulate all the winners and nominees on their outstanding achievements,” Buwa stated. This year’s theme, “We are kings and queens –…

Tim Southee said he would never forget his "incredible journey" after the New Zealand great confirmed yesterday he had retired fully from international cricket. Southee said he would "fade out" a happy man after taking two wickets in his 107th and final Test, a 423-run drubbing of England in Hamilton. The 36-year-old swing bowler then revealed he would also play no more limited-overs matches for his country, ending a record-breaking 17 years across all three formats. "It's time for these young guys," Southee said. "We've seen a number of them come through in the last couple of years and I'm excited to sit back and watch them continue to take this team forward. I've lived it for so long. So yeah, I'll be done." Southee's 391 wickets is second only…

Chelsea forward Mykhailo Mudryk has failed a doping test, the Premier League club said yesterday, as reports stated the Ukraine international has been provisionally suspended. The Blues said they were notified by the FA of an "adverse finding" in a urine sample provided by the 23-year-old winger. “Chelsea Football Club can confirm that the Fa recently contacted our player, Mykhailo Mudryk, concerning an adverse finding in a routine urine test," a club statement said.…

Sharks coach John Plumtree's comments that players should not be treated as “robots” has gained little sympathy in the northern hemisphere but his counterpart on Saturday Jake White would agree that too much is being asked of players in terms of travel. The Sharks and the Bulls play a big United Rugby Championship derby in Durban on Saturday a week after both suffered losses in England in the Challenge Cup. Plumtree, speaking after a mostly second-string team was pumped 56-17 by Leicester, said the relentless playing schedule was taking a physical and mental toll on players. He added that it would be much better if the South African teams travelled to the north for mini-tours rather than go backward and forward for one match. When the Sharks announced their team…

The crypto market continues to evolve as institutional adoption and innovative financing mechanisms reshape its trajectory. Convertible bonds are emerging as a key tool for crypto companies to raise capital, offering growth opportunities without immediate equity dilution. Over $4 billion has been raised recently for Bitcoin mining and infrastructure expansion, signalling confidence in the sector’s long-term potential. Bitcoin itself is solidifying its role as a financial asset, often viewed more as a reserve asset than a transactional currency. Events like the launch of Bitcoin spot ETF options have heightened market dynamics, with implied volatility surging before stabilising. Companies like MicroStrategy and others with leveraged Bitcoin positions highlight the growing intersection between crypto and traditional finance, where the use of convertible bonds and other instruments enhances yield and attracts capital from…

Given the current festive season, I'm in a suitably reflective mood that's partially inspired by a brilliant piece of print reporting for Rest of World by Issie Lapowsky entitled “How WhatsApp ate the world”. WhatsApp’s global grip The Rest of World article details the impressive and even unsettling ways Meta is leveraging a platform I can barely imagine life without to deliver on complete and utter world domination in numerous domains. As the publication’s editor-in-chief, Anup Kaphle, has pointed out on LinkedIn, WhatsApp is effectively “the internet” for many living in the developing world – a reality supported by the staggering numbers: 2 billion daily users sending over 100 billion messages across 60 languages and 180 countries. Incidentally, Lapowsky’s piece was published shortly before Meta’s platforms went on the blink…

The Competition Tribunal heard yesterday that Sekunjalo Investment Holdings and its group of companies would face irreparable harm, including significant job losses and potential closures, if Nedbank did not reopen their bank accounts. The hearing followed Sekunjalo’s application for an interim interdict compelling Nedbank to reinstate the accounts. This development comes amid a long-standing dispute where South Africa’s five largest banks, dominating the banking sector, have either closed or threatened to close Sekunjalo’s accounts, citing alleged reputational harm. In November, the Competition Commission found that Nedbank and other banks colluded to exclude Sekunjalo from the banking market through prohibited practices. Advocate Katlego Monareng, representing Sekunjalo, argued that the Tribunal was not being asked to rule on whether prohibited conduct had occurred but rather to determine if a prima facie case…

DJ Fresh’s new EP RE:Fresh pays tribute to his late ex-wife, Thabiso Sikwane, featuring collaborations with renowned artists and heartfelt tracks celebrating motherhood and love. Released on Friday, the five-track musical offering showcases the multi-award-winning DJ and music producer’s versatility as it fuses Afrohouse rhythms with uplifting beats and powerful storytelling. The EP comprises star-studded collaborations with Shota, Kyle Deutsch, Shona SA and LindAlive. This includes Mama (Thabiso), a deeply personal lead track that features the powerful bilingual vocals of Deutsch, who sings in English, and LindAlive, who adds isiZulu to the song. This soulful Afro house anthem is a heartfelt tribute to Thabiso, Fresh’s ex-wife and the mother of his children, Wandi, Reneilwe, Thato and Lefika. She died at the age of 50 in August. They were married…

Kelvin Momo’s fans are never left wanting because he’s always in the studio making new music. The Amapiano sensation dropped his sixth studio album on Friday, December 13. Titled Ntsako, this 24-track album features industry heavyweights including Kabza De Small, Yahoo and Babalwa M. “Ntsako out at midnight! This journey wouldn’t be possible without all of you, thank you to everyone who contributed and made this possible,” he said last week. As expected, fans were over the moon, especially because the album has come at a time when everyone is in a festive mood. “It still breaks my heart that Nelson Mandela died without listening to Kelvin Momo’s music,” said @Erickmabunda. Another fan, @Givarr_, said: “I think we all have to accept now that Kelvin Momo is Messi of Piano…

THE Independent Development Trust (IDT) board has written to the minister of Public Works and Infrastructure, Dean Macpherson to point out his inaccuracies in his response to the R800 million PSA Oxygen Plant tender. The board believes that MacPherson’s statements in the media are misinforming the public and misrepresenting the organisation and previous discussions with him. It is also believed that the minister is hostile to the IDT board and executive. Analysts have described McPherson’s actions as “politically driven”. In a letter dated December 10 sent through the board’s chairperson, Kwazikwenkosi Mshengu, the board says it is concerned about what appears to be a misunderstanding of the initiative to review the internal control processes and contract management systems on the back of the recent investigation launched by the minister over…

PRESIDENT Cyril Ramaphosa has committed to a “National Dialogue” next year to address the country’s ongoing challenges of racism, poverty, poor governance, slow land reform and corruption, among others. This was announced part of his keynote address during the National Day of Reconciliation, held in Vredendal, Matzikama Local Municipality, under the theme “Healing Historical Wounds and Forging New Futures”. The president noted that much of South Africa’s history, the December 16, stood as “a symbol of the wounds of our history”. “For some it was a celebration of victory. For others, it was a painful reminder of conquest and dispossession.” The president acknowledged the historical relevance of Vredendal, a symbolically location known as the Valley of Peace, and highlighted the plight of many of its inhabitants, particularly farmworkers. “Under…

As the festive season approaches, residents of Tshwane are being reminded of the importance of safety when planning to celebrate with fireworks. With Christmas and New Year’s Eve just around the corner, the city’s emergency services department has issued a clear warning: anyone intending to discharge firecrackers must first obtain the necessary permissions from the Tshwane Emergency Services Department. Lindsay Mnguni, spokesperson for the emergency services department, emphasised that discharging fireworks without prior approval is contrary to the law and could lead to serious consequences. “The City of Tshwane Emergency Services Department would like to wish the public a happy and safe festive season, including Christmas and New Year’s Eve celebrations. However, it is vital for all participants to understand that private firework displays require approval,” Mnguni stated. To ensure…

In a collective effort to address pressing global challenges, stakeholders from various sectors convened in South Africa for the annual Open SDGs Club Symposium 2024, a platform established in 2019 to accelerate the implementation of the Sustainable Development Goals (SDGs). The two-day event highlighted critical needs and co-ordinated strategies towards achieving the overarching goals set forth by the United Nations in 2015. Speaking at the symposium, Namhla Mniki, convener of The Open SDGs Club, emphasised the importance of unity among multiple stakeholders, stating: “Every single year we meet with different parties – government, civil society, academia, and businesses – to discuss who is doing what and the challenges we are facing.” With a firm commitment to collaborative action, Mniki underscored the central aim of the symposium: to reflect on progress…

Brad Binder is cognisant of the fact that things won’t be a “100% normal” for Red Bull KTM next year, but the South African MotoGP rider is confident that the team will pull through a financial crisis that has hit the team’s corporate overlord hard and which is threatening to derail the future of the entire organisation. The Austrian motorcycle manufacturer, earlier this year, placed themselves in self-administration to avoid bankruptcy, putting a halt on all production, laying off their workforce and cutting their board, as they grapple with liabilities reported to be as high as €3 billion (about R56.86bn). Motorsport is notoriously difficult to generate profit from, with the margins between surplus and loss tiny. It could even be argued that the primary function of the entire endeavour is…

There are persistent risks to South Africa’s mining sector profitability from elevated electricity costs and possibly higher transport costs, as coal and chrome exporters switch to longer and more expensive routes due to the unrest in Mozambique that resulted in the closure of the border between the two countries for days. The Lebombo border post linking South Africa and Mozambique was closed this year due to civil unrest following disputed elections in the neighbouring country. The Minerals Council said yesterday that the closure of the border could lead to a spike in transport costs for South African miners, especially chrome and coal exporters. “Persistent electricity price pressures and rising transport costs may continue to strain mining profitability,” said the Minerals Council economist, Andre Lourens. “The recent closure of border posts…

South Africa has been hit hard by climate change. The projected tipping points, as modelled by scientists, are coming closer to reality – rapidly. The Wits Global Change Institute pegs three alarming tipping points – conditional on our business-as-usual responses to date. The first is a water crisis – the real possibility of a Gauteng Day Zero. This is a combination of many factors. Climate Change – both through altering the local weather patterns with higher temperatures and extreme weather events. This compounds already low maintenance levels of infrastructure, leaving us with a leaking bucket. If this is not bad enough, the administration is not billing and successfully collecting revenue, with this unaccounted-for-water reaching close to 50% in Johannesburg, with Tshwane and Ekurhuleni not far behind, leaving behind a budget…

The Presidential Climate Commission (PCC) has appointed Dorah Modise as its executive director, effective from 24 February 2025. The vacancy of executive director resulted from the retirement of Dr. Crispian Olver and his subsequent appointment by President Cyril Ramaphosa as deputy chairperson of the Commission from 1 January 2025. Modise is a sustainability enthusiast with more than 26 years of experience in areas such as environmental sustainability, international diplomacy, government (local, regional, and national), industry associations, and academia. She served in several senior management roles at the Department of Forestry, Fisheries, and the Environment. She was also instrumental in drafting the adaptation component of the White Paper on Climate Change and establishing the National Green Fund. During this time, Modise was intensely involved with the United Nations Commission on…

Sirius Real Estate, the owner of branded business and industrial parks in Germany and the UK with a secondary listing on the JSE, yesterday announced the acquisition of a business park in Munich for €13.3 million (R306.5m). The company, which provides conventional space and flexible workspace, said it has completed the acquisition of a development site in Munich, immediately adjacent to the company’s Munich-Neuaubing business park, for €13.3m. The site was acquired at its land value and represented an important acquisition that allowed the company to secure the final corner of a well-located 130 000 square metre estate in the Bavarian capital, presenting a number of value-add and development options in the future. “Sirius has already been exploring potential alternative development opportunities at the Munich-Neuaubing site, which lies in a…

THE Constitutional Court has handed down an interim order that temporarily amends the Copyright Act of 1978 to include an exception to copyright for persons with visual impairments. This decision comes after Blind SA, represented by Section27, launched an urgent application in October this year, following President Cyril Ramaphosa’s failure to sign the Copyright Amendment Bill (CAB) by the court-ordered deadline of 21 September 2024. The CAB, which was approved by both Houses of Parliament on February 29, this year, aimed to include an exception to copyright that would benefit not only the blind and visually impaired but also all persons with disabilities. However, Ramaphosa’s failure to sign the bill into law led to the declaration of invalidity of the Copyright Act, causing uncertainty and confusion among the blind and…

Do you have what it takes to compete and win the 2025 Fortuner Challenge powered by Quartz Engine Oil and drive away with a new soon-to-be released Toyota Fortuner GR-Sport to the value of R900 000? The Fortuner GR-Sport will be released in 2025 and has been inspired by the Gazoo Racing motorsports team to be more aggressive and more powerful. If you’re good at offroad driving, running, cycling, navigational challenges, watersports and can keep a cool head under pressure while solving problems and building puzzles then this is for you. In short you need to be extremely fit, good at speed, endurance, mental and physical problem solving. Following the same recipe as previous years, four heroes will be teamed up with four contestants from different media houses, including Independent…

SACHA Feinberg-Mngomezulu had the world at his feet after starring for the Springboks against the All Blacks during the Rugby Championship. The 22-year-old playmaker had the world of rugby buzzing with his special running and kicking skills, not to mention his audacious offloads in the tackle. But first a knee injury and then a subsequent concussion has limited his game-time in recent months, which has seen him have to put in the hard yards again off the field. Now that he has been cleared to feature for the battling Stormers in Saturday’s United Rugby Championship showdown with the Lions at Cape Town Stadium (3.45pm start), though, the utility back cannot wait to get going once more. Feinberg-Mngomezulu’s latest absence coincided with the Stormers’ capitulation in the Champions Cup, where they…

The 2024 domestic football calendar year has had thrills and spills, with a handful of teams living up to their lofty billings, while others – incredibly – continued to fall from grace. With only a few days before the year ends, Independent Media’s football writers MIHLALI BALEKA and SMISO MSOMI offer their year-end wrap. THE CHALLENGERS Mamelodi Sundowns: It’s been an interesting year all round for Sundowns. Not only did they achieve the improbable, but a lot has happened at the club. Sundowns won their unprecedented seventh title in a row. However, that was still not enough for coach Rulani Mokwena to be retained as he was sacked. Enter Manqoba Mngqithi. The 53-year-old led the team to the summit in the first eight games of the new season, but he,…

Arne Slot says he is not surprised that Liverpool are flying on all fronts just months after he replaced Jurgen Klopp, as he prepares to rest some stars for their League Cup quarter-final against Southampton. The Reds are top of the Premier League and the Champions League, with 19 wins in 23 games in all competitions so far. Slot said at yesterday's pre-match press conference that it was "normal for Liverpool to be fighting for every trophy and to be for a long time in every cup". "This happened last season when this club won this competition," he said. "So, I am not surprised that with the quality we have we are competing at this moment for these three trophies, and the fourth one (the FA Cup) is starting in…