Tabla de contenidos para 2024-05-02 en Mercury

South African investors are awakening to Environmental, Social, and Governance (ESG) investing as a new way of measuring the value of their investments. It is a new view – one that seeks to balance earning money and taking care of the environment. Investors have started to think much more about ESG when they decide where to put their money by looking closer at how a business makes money, and in the process gaining an understanding that how a business makes money, how it affects people, and how it takes care of the environment are all interconnected. This change towards ESG investing in South Africa is part of a bigger change currently occurring all over the world. As more people become aware of issues like climate change, how people are treated,…

Impala Platinum (Implats) is jostling for the retrenchment of 3 900 employees from its South African operations, citing compressed operating margins despite strong orders for platinum group metals (PGMs), higher refined production and elevated sales for the quarter to the end of March 2024. Implats last week announced plans to retrench from the Marula, Rustenburg, and the recently-acquired Bafokeng operations. This worsened a wave of retrenchments in the industry, with Sibanye- Stillwater also recently announcing the shut down of some shafts. Implats CEO Nico Muller on Tues- day said the group was still under pressure from low commodity prices. “Margins remain compressed and we are pursuing a set of actions to ensure that each of our operations is set up to more robustly deliver sustainable free cash flow…

AS the 4 889 SA Post Office (Sapo) employees facing the axe amid retrenchments, were dealt a major blow this week after the Joint Business Rescue Practitioners (BRPs) announced that the application for relief funding was unsuccessful. Labour union Cosatu said yesterday that it planned to engage the ministers for Communications and Labour and the Unemployment Insurance Fund (UIF) to review the decision to not grant Sapo workers funding from the UIF’s Temporary Employer-Employee Relief Scheme (TERS). According to the BRPs, the funding refusal means that the retrenchments would have to immediately take place. Cosatu acting spokesperson Matthew Parks said that the trade union federation was deeply disappointed that the Commission for Conciliation, Mediation and Arbitration (CCMA) had turned down the proposed UIF TERS relief for the Sapo. “We…

ANC secretary-general Fikile Mbalula yesterday lashed out at former president Jacob Zuma, saying he was asked to resign as the party could not keep a president who was facing corruption charges. Cosatu, the ANC, SACP and other alliance partners commemorated Workers’ Day at Curries Fountain Stadium in Durban in front of thousands of supporters yesterday. Mbalula said that while there were many political parties in the country, the only one they had an issue with was uMkhonto weSizwe Party (MKP). “We have done so much for that man. We helped him in many ways. Now he is not speaking the whole truth because he is saying he does not know why he was recalled,” Mbalula said. Zuma resigned in 2019 after intense pressure from the ANC but said he disagreed…

Impending outcomes in all four countries: US, UK, India and even our local terrain, South Africa, are all unusually, and probably for the very first time in history, depending a lot on factors that are occurring outside these countries. The Ukraine and war against Gaza have unhinged the average American mind. Billions of tax money down the U-tubes. In a country that does not offer any free public health service. In a country that has the biggest variety of shacks that serve as shelters for millions of the homeless. Especially in the State of Hollywood. These are not facades used as cowboy towns but are for real. The situation in the UK is not very much better. Sunak, after ruthlessly beginning to boot out refugees who were innocent victims of…

Judge Ratha Mokgoatlheng, who is presiding over the Senzo Meyiwa trial, is undoubtedly a competent judge and well respected. He is handling the case well. With all due respect, this is not a patronising observation but a mere entry point to this letter. However, the judge has a negative habit of making throwaway statements from the Bench. His loaded statements possibly rile many people, especially those from black communities. Some weeks ago, he unfairly excoriated black lawyers. To his credit, he subsequently backtracked and openly apologised in court after there was an outcry over his comments. But he did it again on Friday, April 26, when he commented on the behaviour of one of the lawyers, advocate Thulani Mngomezulu. It is not even prudent to go into the essence of…

Describing it as a nest for corruption, several legal groups have appealed to the Department of Justice and Constitutional Development to move with speed in acting against those found guilty of crippling the Master’s offices across the country. This follows the suspension of 13 senior managers and other officials in Master’s offices in light of an investigation into allegations of maladministration and financial irregularities. The department said several officials were suspended from their positions in offices across the country. They include the Masters of the Gauteng High Court, Pretoria, and the Gauteng High Court, Johannesburg, along with their respective deputies and assistants. An accounting clerk and estate controller of the Gauteng High Court, Johannesburg, the Master of the High Court Free State, Deputy Master of the High Court Free State,…

The Electoral Commission of South Africa (IEC) says it had done nothing wrong by meeting with US Ambassador Reuben Brigety just weeks before the May 29 elections. The IEC’s top officials met with Brigety in Pretoria this week, drawing criticism from some circles that the US was apparently influencing the outcome of the polls. The IEC said it has also met with EU and Latin American ambassadors on the same basis to assure them they were holding credible elections. Brigety is of course no stranger to controversy in Pretoria after he made damning allegations against South Africa when he accused the country of secretly sponsoring arms to Russia on the Lady R vessel amid the war in Ukraine. The allegations were found to be false after President Cyril Ramaphosa instituted…

THE relevance of Workers’ Day in South Africa becomes lost when lowly paid farmworkers are still transported on the back of an open truck. The importance of this day becomes meaningless when some employers refuse to pay their workers the minimum wage. The day has no value to the millions of workers who see no improvement in their working conditions, especially with laws addressing such that are not enforced. Many workers, in particular those on the farms, will tell you of how much May 1 would mean to them if only their employers were held responsible for some of the atrocities we have often reported on in our news pages. This editorial deliberately highlights the issues in the agricultural sector because some employers continue violating the basic human rights of…

DR SAMUEL Mokgethi Motsuenyane was a towering, larger-than-life figure in the black business community due to his illustrious career and highly coveted accomplishments. Yet, he remained a humble soul who touched countless lives and empowered many business people as he continued to work long past his retirement age. Motsuenyane will now be remembered as a titan in the realms of business as he died peacefully on Monday “after a valiant and prolonged battle with illness”. He was 97. The news of his passing was confirmed by the Dr Sam Motsuenyane Foundation on Tuesday morning. The foundation’s chairperson, Professor George Lenyai, said Motsuenyane’s legacy extended far beyond his numerous professional achievements. “Dr Motsuenyane belongs to the ages; it will be an honour to him if we have learnt from him…

Glencore’s ferrochrome production dipped in the first quarter ended March 2024 as the Swiss multinational commodity trading group continued to idle its South African smelter, while its thermal coal production also remained largely flat. The diversified resources firm produces ferrochrome from South Africa as well as the Democratic Republic of Congo (DRC), but has been adjusting its production profile in the DRC. In the quarter to March, Glencore’s attributable ferrochrome production amounted to 297 000 tons, dipping by 26% or some 103 000 tons below output for the same period a year ago. This as the Glencore Rustenburg smelter “remains idled, pending an improved price/cost” environment. Glencore CEO Gary Nagle explained how the quarterly production had been impacted by idling Rustenburg operations and adjustments in DRC. “Lower year-on-year…

THE Electoral Commission of South Africa (IEC) is taking two members of the uMkhonto weSizwe Party (MKP) to task over their public utterances that the body believes threaten the upcoming elections and violate the Electoral Code of Conduct. The IEC this week said it is taking Bonginkosi Khanyile and Visvin Reddy to court. Deputy CEO of the IEC, Mawethu Mosery, said papers had been filed with the Electoral Court. However, the MKP has accused the IEC of singling out the party, saying politicians from other parties have been making inflammatory statements without being sanctioned. In March, the two MKP members threatened there would be no elections and that there would be anarchy if former president Jacob Zuma, now MKP leader, was not allowed to contest the elections on behalf of…

I JUST felt compelled to tell you a good story that shows how kind people can be. I have two sons. Years ago, the older boy, who was studying at the University of Cape Town, ended the year with a trip with a friend to Namibia. After spending some time there they split up and my son returned alone to South Africa. On his way to Durban he stopped in an Upington caravan park for the night. A nearby family saw this boy on his own and invited him to come and share their dinner with them in their caravan. After supper they suggested that instead of spending the night on his own next to his car, that he bring his sleeping bag and come and sleep in the tent…

The strident, anti-Semitic, pro-Hamas terrorism demonstrations on campuses in America reveal the extent to which decades of indoctrination by academics in so-called liberal universities have succeeded in producing totalitarian scenes no different from those the Nazis staged in the 1930s. Sadly, however, the slogan of these so-called students – “Freedom for Palestine means death to America” – is also the product of a long-term subversion strategy. KGB operative Yuri Bezmenov, who defected to the West in 1970, identified four stages in subverting the US: demoralisation, disorientation, crisis and normalisation. Scholars of the social and political ferment in the US have posited that America is currently in the fourth stage. A more recent defector from communism, Xi van Fleet of China, points out that America is already in the grip…

The infamous termination of the sale of equity in SAA should be thoroughly investigated. It can be inferred from the fiasco that the Department of Public Enterprises (DPE) fiddled with the search for a strategic equity partner to hand-pick an unqualified bidder, without a real sense of logic. It’s a typical aberration from within the DPE walls. I believe the oft-recurring interference in the corporate governance affairs contributed to the sudden departure of former SAA CEO Vuyani Jarana. More specifically, Jarana was cut short of achieving the objectives of the airline’s short-term survival with considerations for growth in the long term. Yet, stakeholders were sold his turnaround strategy that undertook a re-appraisal of the organisation. Following Jarana’s exit, SAA was reduced to a shadow of its former self. Then came…

TAVERNS and bottle stores outnumber schools, clinics and doctors’ offices in Inanda. This was noted by Police Minister Bheki Cele during an anti-crime imbizo at the Dr JL Dube Stadium in Inanda on Tuesday. “If you put together the number of schools, clinics and doctors’ offices, they are 121. The shebeens and bottle stores are 136 all together. This is one thing we all need to look at, not really interfere with the economic activities but to understand that the very same economic activities, if they are not properly regulated, can lead to crimes,” said Cele. He emphasised the importance of collaborative efforts between the government, law enforcement, and communities in combating crime effectively, stressing the need for a united front. Premier Nomusa Dube-Ncube emphasised the urgent need for collective…

Two suspected stolen vehicles have been recovered by police in Limpopo with four suspects arrested. The four – foreign nationals aged between 29 and 44 – were charged with possession of presumed stolen motor vehicles and possession of fraudulent documents during an anti-smuggling operation conducted on Sunday into the early hours of Monday in Polokwane. Limpopo police spokesperson, Brigadier Hlulani Mashaba, said the Limpopo SAPS anti-smuggling task team received a tip-off regarding vehicles destined to be smuggled out of South Africa to Malawi and Zimbabwe, through the busy Beitbridge port of entry. “On Sunday, at around 9.30pm, the team arrested a Malawian man driving in a grey Toyota Fortuner 2.8 along the R101 to Polokwane. The (police) tried to stop the vehicle but it sped off. They followed it…

FEW would have called it a few months ago but the Sharks have risen from the canvas to be South Africa’s only hope of landing a knockout blow in the European competitions. It was not that long ago that the Durban team were stone last in the United Rugby Championship after 10 losses in 11 games but now they are two games away from serious silverware. Yes, the Challenge Cup is a poor relation to the Champions Cup but if the Sharks can win it, it will be the first time a South African team has won a cup tournament in Europe. Given the growing chorus of dissent in Europe regarding including South Africa in European tournaments, this would be of massive consequence. This was highlighted by the dissent displayed…

As the negative impacts of climate change increase and livelihoods and local economies erode, and as jobs continue to shrink and dwindle leading to upheavals in societies, governments need options to addressing the crisis of unemployment as well as create new patterns of economic inclusion. In light of the potential job losses and or regional shifts in job markets, one needs to argue that small medium and micro enterprises (SMMEs) will remain the net job creators in the green economy as the subsequent mitigation and adaptation policies on labour markets is being unbundled in search of alternative models of growth in the midst of the net-zero growth and development paradigm. The challenges of achieving a net -zero ambition and creating decent work for all are closely linked and an integrated…

ETHEKWINI mayor Mxolisi Kaunda has painted a glowing picture of the City’s economy, saying it has created and absorbed thousands of people in different jobs. Kaunda detailed the performance of the municipality while delivering his State of the City’s address on Tuesday. The mayor’s address covered a wide range of service delivery matters including work being done to improve water and sanitation, roads, electricity and energy services, inner-city development and addressing homelessness. However, opposition parties criticised the mayor’s speech, saying it was rehashed from last year. They said he made new promises while failing to detail which promises made last year had been kept. Kaunda praised the City’s performance in economic development, detailing the efforts to create job opportunities. He said one project will be launched in July that…

A CONNOISSEUR sampled 25 wines during the recent London Marathon, raising more than £14 000 (R326 200)for charity, according to the BBC. Tom Gilbey, 52, swopped glucose gels for malbec and merlot as he completed the race, blind tasting a different wine at every mile. Armed with two glasses stashed in his running belt, the wine expert took up a challenge to name each wine’s vintage, grape and producer. He started out strong at mile one, identifying a 2018 Burgundy pinot noir, and went on to name, “mostly correctly” 21 wines, getting four wrong. But as the finish line got closer, the verdicts became hazier. The veteran wine taster managed to avoid feeling tipsy by drinking only small sips or sometimes not swallowing the wine at all. “If they…

It is with great sadness that we mourn the passing of the legendary Dingaan “Rose of Soweto” Thobela. As the DA, we extend our deepest condolences to his family, friends, and the entire sporting community. Dingaan Thobela was more than a boxing champion; he was a beacon of hope and inspiration for countless South Africans. Hailing from Chiawelo, Soweto, he rose to prominence through sheer determination and unparalleled skill, capturing the hearts of the nation along the way. His remarkable career saw him clinch three world titles across two weight divisions, etching his name in the records of boxing history. Dingaan Thobela’s legacy transcends mere accolades; it embodies the spirit of perseverance and excellence. Beyond his prowess in the ring, he was a symbol of unity and pride for South…

HIGHER Education Minister Blade Nzimande says the National Student Financial Aid Scheme (NSFAS) has selected 40 institutions across the nine provinces for its pilot programme for private accommodation in 2024. “The total number of accommodation providers or properties that have been accredited through the NSFAS portal is 3 309,” said Nzimande. He said the accredited properties were linked to Technical, Vocational Education and Training (TVET) colleges and or universities in the pilot as per the minimum norms and standards on student housing. Nzimande was responding to parliamentary questions from EFF and Freedom Front+ MPs. According to Nzimande, NSFAS had proposed that 23 TVET colleges and 17 universities be part of the accommodation pilot programme in the 2024 academic year. Asked about the contractual value of each service provider and…

Taxpayers have coughed up nearly R300 billion in bailouts to four struggling state-owned enterprises falling within the Public Enterprises Department over the past five years. Eskom received the lion’s share of the government’s bailouts that amounted to a whopping R234bn during the period. The government received only R1 million in dividends from just one of the SOEs, since May 2019. This was revealed by Public Enterprises Minister Pravin Gordhan when he was responding to parliamentary questions from DA MP Farhat Essack. Essack wrote to Gordhan enquiring about the amounts SAA, Eskom, Transnet, South African Forestry Company Limited (Safcol), Alexkor and Denel received in bailouts and paid out in dividends over the past five years since May 2019. Gordhan’s responses showed that the SOEs received these amounts in bailouts: SAA received…

The rigour of India’s election practices hold out as an example for others The world today is turbulent and unpredictable. Many countries have still to recover from the socio-economic damage of Covid. A conflict now in its third year in Ukraine has had a serious impact on energy, food and fertiliser security. Fighting in West Asia triggered by the October 2023 terror attack on Israel could escalate into something wider. Drone and missile attacks in the Red Sea are disrupting global shipping, even as piracy in the Gulf of Aden becomes more threatening. In Asia, territorial claims and disregard for law and agreements have created new tensions. The long standing challenge of terrorism remains, waxing and waning, but still, always there. For India, these larger uncertainties are compounded by the…

AT 41 years old, Chris Strover has etched his name into the annals of bowling history with remarkable back-to-back wins in the PNB Open Singles Championship. This feat, only previously accomplished by Bruce Makkink in 1987/88, highlights Strover’s undeniable talent and dedication to the sport. Strover’s journey in the world of bowling began at the age of 12 when he started bowling with his father, Roy. However, it was not until two years ago that Chris decided to take his game to the next level. Frustrated with his district achievements, he enlisted his father, who is a coach and plays at Randburg BC in Gauteng, to become his online coach. Through a rigorous training regimen and regular video analysis, Strover’s performance has seen a remarkable improvement. Last year Strover clinched…