Inhoudsopgave van 2023-03-22 - Cape Times

TRANSACTION Capital’s share price continued to dive on Monday, falling to an intraday low of 12%, after it said core earnings per share (eps) from continuing operations might drop by up to 46% for the half year ending March 31, this year. On Monday, the shares traded at a low of R10.10 closing the day 7.39% lower at R10.65. and have decreased by 69.04% in the past six months, with the market capitalisation now down to R8.7 billion. Transaction Capital’s share price started dropping last week, wiping billions off its value, following the company releasing a trading statement highlighting problems in the taxi-lending business, SA Taxi. At the time, it warned core earnings per share for the six months to March 31 were expected to fall by more than 20%,…

THE HIGH COURT Gauteng Division on Monday began the case brought in by the United Democratic Movement (UDM) and other political and civic organisations, which argues the government and power utility Eskom, has violated basic human rights by implementing load shedding that has knocked critical areas of the economy such as hospitals. The matter, set to be heard from Monday to Thursday this week, was adjourned to Wednesday. Advocate Bruce Dyke, representing ActionSA, said the plea from ActionSA and other organisations hinged around the provision of electricity for 85 police stations, 93 hospitals and 23 000 schools badly affected by loadshedding when the lights were switched off. “The Ministry of Health has actually acknowledged that load shedding has impacted public hospitals,” Dyke told the court presided over by Justice…

THIS WEEKEND’S Black Sea grain deal will benefit all wheat and vegetable importing countries and users, as it would result in downward pressure on prices, says Agricultural Business Chamber (Agbiz) chief economist Wandile Sihlobo. He said South Africa was one of the wheat importers that stood to benefit from softer global wheat prices. “Moreover, the animal feed industry will also benefit from general downward pressure on grain prices, which have been elevated in the past year, and added price pressures to businesses. “Ultimately, the events of this past weekend are positive for global food prices, notwithstanding the ongoing uncertainty about what happens after the end of the current extension. “We think it will be in Russia’s interest to extend the deal further when the current term expires, given that the…

Ingredients 2kg leg of lamb (on the bone) Salt and milled pepper 2–3 oranges, cut into wedges 4 cups vegetable stock 4 sprigs rosemary Marinade: ¼ cup olive oil 2 Tbsp za’atar 2 Tbsp honey or brown sugar 3cm knob fresh ginger, grated 5 cloves garlic, grated Juice and grated peel of 2 lemons Juice and grated peel of 3 oranges Gremolata: Handful fresh parsley, chopped 2 packets dried apricots, chopped ½ cup olive oil 2 cloves garlic, chopped Juice and grated peel of 2 lemons For serving: Labneh or plain yoghurt Toasted flatbreads Method Score lamb on both sides, taking care not to cut deeper than 2cm into the lamb. Season and place in a large bowl or dish (big enough to fit lamb). Mix…

The much-talked-about positive brand of cricket under new coach Rob Walter was on full display as centurion Heinrich Klaasen spearheaded the Proteas to a four-wicket victory over the West Indies in Potchefstroom yesterday. South Africa quite easily chased down the target, after the visitors finished on 260 off 48.2 overs, at the JB Marks Oval as they ended on 264/6 off 29.3 overs to level the series at 1-1. Klaasen got off the mark with a single after Kyle Mayers found the edge of Aiden Markram’s bat in the 11th over of South Africa’s run chase. His next ball was a beautiful cover drive for four off the bowling of Odean Smith, and from that shot onwards his intention was clear – he was not going to hold back from…

Ending last season with a memorable victory over Kirani James has inspired Wayde van Niekerk to push even harder for his ultimate goal: breaking the 43-second barrier in the 400m. The Rio Olympic champion has had a difficult few years, but appeared to be getting back to his best in 2022. He reached the 400m final at the world championships in Eugene, Oregon – having missed out on the decider at the Tokyo Olympics – and despite not clinching a medal, the South African star finished fifth in a time of 44.97 seconds. But the best moment of 2022 came in September at the Gala dei Castelli event in Switzerland, where Van Niekerk posted a season’s best time of 44.33 and beat Grenada’s James in the process as well. Since…

THE CONTAGION over the US banks collapse continued affecting global markets on Monday, with the South African banks index falling 1.6% to 9 215 index points as investors tried to assess the health of the global banking sector. European bank shares have come under huge selling pressure, notably Credit Suisse, following the collapse of the Silicon Valley Bank and Signature Bank. The market has been sniffing out weaknesses elsewhere after US authorities stepped in to prevent contagion and financial market turbulence, as the sale of the troubled Credit Suisse to rival UBS was not enough to calm markets. Shares for local banks followed their global peers and plunged after the UBS takeover of Credit Suisse wiped out $17.3 billion (R319.3bn) in Credit Suisse AT1 bonds, spurring concerns about…

MERAFE Resources, the junior em- powerment partner in a chrome joint venture with Glencore, said on Monday that attributable ferrochrome production increased marginally by 1%, plagued by electricity supply challenges in the second half of the year. In its results for the year ended December 31, 2022, the group said it produced an attributable 384 000 tons of ferrochrome, from 379 000 tons in the previous year. Merafe reported headline earnings of 56.4 cents a share which compares to 66.8c for 2021, and a 2% decrease in revenue to R7.94 billion. The board declared a final cash dividend of R325 million, nearly 41% lower compared to 2021’s R550m payout. “This amounts to 13c per share before dividend tax and brings the total dividend for the…

Professor John Terblanche, internationally recognized as one of the world’s leading researchers in the treatment of liver diseases, has died in Cape Town on 6 March 2023, aged 87. Terblanche, a previous Head of the Department of Surgery at the University of Cape Town and Groote Schuur Hospital from 1981 to 2000, graduated from the University of Cape Town in 1958 and qualified as a surgeon in 1964 when he was awarded the Douglas gold medal as the best graduate of the year. He started his surgical career doing ground-breaking pioneering research with Professor Chris Barnard using the heart-lung machine to cool patients during cardiac surgery for which he was awarded a Masters degree in 1964. He subsequently became co-founder of the MRC Liver Research Centre in 1973 with Professor…

The Stormers are keeping their Springbok trump cards close to their chests ahead of a monster United Rugby Championship (URC) clash with Leinster in Dublin on Friday (9.35pm kick-off). Although one can deduce that Boks like captain Steven Kitshoff and Frans Malherbe (props), utility back Damian Willemse and lock Marvin Orie have travelled with the defending URC champions to Ireland, the Cape franchise are trying to keep their involvement in this specific game at the RDS Arena a secret. No squad was announced before their departure on Sunday, and they also did not make the names available this week. Even forwards coach Rito Hlungwani could not divulge whether the Springboks are indeed in camp, although he alluded to the fact that it’s very difficult to lie, with a big smile…

An avid surfer, Scott Robertson knows a thing or two about riding waves, but coaching the All Blacks may end up the most daunting of his career, with a big wipe-out almost guaranteed without sustained success. The job comes saddled with the expectations of a nation that lives and breathes the sport, and a public quick to demand heads roll when results fall short on the field – as current boss Ian Foster knows all too well. Five months shy of the World Cup, Foster has already been deemed unfit to continue in the role after the global showpiece – even if the All Blacks win it. Despite guiding New Zealand to both Rugby Championship titles since taking over in 2019, Foster lost public support after their first home series…

It’s been a dreadful period for the Bulls over the last few months, but they will have two opportunities to get back on track this weekend and will hope that their fortunes change for the better. Edgar Marutlulle’s Blue Bulls Currie Cup team will lock horns with the Free State Cheetahs on Friday in Bloemfontein, while Jake White’s United Rugby Championship outfit set sail for Belfast yesterday to face Ulster on Saturday. The Pretoria franchise have lost nine out of their last 11 matches across all competitions, including last week’s 41-33 defeat to Western Province and the previous week’s 63-15 annihilation at the hands of the Pumas – both at Loftus. Blue Bulls Rugby Union president Willem Strauss said in a weekend broadcast message on his social media accounts that…

Police have arrested at least 87 people for public violence-related offences ECONOMIC activity ground to a halt in South Africa on Monday as businesses in major centres closed their doors and the logistics industry was disrupted in response to the national shutdown. The shutdown, which was called for by the EFF, saw thousands of people taking to the streets to protest against crippling power cuts, the rising cost of living, the high unemployment rate, and crime, among other socio-economic concerns. At least 87 people were arrested for public violence-related offences in the nationwide anti-government protests that began before midnight on Sunday. In his weekly newsletter on Monday, President Cyril Ramaphosa reiterated the right of any person or organisation to protest, but said no one should be forced, threatened or intimidated…

SHAREHOLDER sentiment prevails as RCL Foods battles consumer price inflation, strike action and rallies in global agricultural commodity and energy prices. RCL Foods is accusing Breede Coalitions of abusing and profiteering from appraisal rights clauses under the Companies Act stipulations following the company’s repurchase of R2.2 million worth of shares held by the minority shareholder. RCL Foods is a leading local food manufacturer selling products such as chicken, dog food and maize meal. The dispute arose subsequent to the group unwinding its existing black economic transaction and the repurchasing of shares. Earlier this month, RCL Foods chief finance officer, Rob Field, said the company was not declaring a dividend in the interim period for the year ended December 2022 with the goal to to keep preserving capital. The company,…

IN THE ONGOING battle to get rid of unsafe toilets, Section27 and the Centre for Child Law will on Friday launch an online accountability tool, to monitor progress to eradicate pit toilets in Limpopo schools. The Michael Komape Sanitation Progress Monitor, named after the 5-year-old pupil, Michael Komape, who drowned in a pit toilet at his school in Limpopo in 2014, will be launched at the Human Rights Festival, at Constitution Hill. As part of the festival, Section27 will also host an exhibition to commemorate the life of Michael, which will run until Saturday. The legal battle for safer toilets had been ongoing with the high court in Limpopo, who in September 2021 ordered that the Department of Education provide a list of schools with pit toilets and other inadequate…

LOAD SHEDDING has cost South Africa more than R1.2 trillion, and the losses for 2023 are yet to be added to the total figure of loss endured by the country. The R1.2 trillion is equivalent to one quarter of South Africa’s entire Gross Domestic Product (GDP). These were the figures submitted before the full bench of the Gauteng High Court, Pretoria this week, following an application by political parties and civil society organisations to the court to force the government to end load shedding. These details were submitted by advocate Tembeka Ngcukaitobi, SC, who is representing political parties against Eskom and the national government under President Cyril Ramaphosa. The court application was divided into two parts – one to force the government to exempt key state institutions such as hospitals,…

Reflecting on my three score years and 16 today, I am reminded of some changes within that time, and, with regard to events this week, a few paragraphs are void of maritime matters. I was a schoolboy in March 1960, when the headmaster told us to go home from our Newlands school via the shortest route. Those living in Cape Town or further afield had to await their own parents to take them home. Pedalling back to Mowbray, my friend and I found Durban Road thronging with thousands of people returning to Langa after petitioning authorities in town to end the dreadful dompas system. Overhead was a Sikorsky helicopter, and amid the throng were several police vehicles, moving at the marchers’ pace. Atop an Austin A30 was a young…

Coach Hugo Broos has warned the Bafana Bafana squad that they will be facing a highly-motivated Liberia, who has been promised huge cash incentives to win their upcoming Afcon qualifiers. News reports coming out of the West African country are that the Liberia Football Association (LFA) want to see their national team qualify for the Africa Cup of Nations in Ivory Coast in January and February next year. They have drawn up a comprehensive plan over the past few months to support the team, including offering cash incentives. When the news of the LFA’s incentives reached Broos, he felt lowly Liberia could be motivated to try punching above their weight in the two upcoming fixtures. Liberia are ranked 150th in the world, and Bafana Bafana slot in at 67. The…

Heinrich Klassen’s magnificent form is because of the consistent backing he has received in the One-Day International format. Klaasen scored a magnificent century and led South Africa to a four-wicket victory in the third and final ODI against the West Indies in Potchefstroom yesterday, which squared the series 1-1. It took him only 30 balls to get to his 50, but only 24 balls for his second to reach a 54-ball hundred, the second of his career, and he finished on 119 not out off just 61 balls, with 15 fours and five sixes. Asked if he felt any different coming into this game at the JB Marks Oval, Klaasen replied: “Not at all. I just think this is the first time there’s a little more consistency of me playing.…

It won’t be an Easter weekend affair, as it traditionally has been, but the Totalsports Two Oceans Marathon is sure to be the exciting festival of running. This year’s festival – which incorporates the flagship 56km event, fondly referred to as the ‘World’s Most Beautiful Marathon’, as well as the half-marathon the day after – takes place on the weekend of April 15 and 16, a week after Easter. Running enthusiasts are still in awe of the thrilling races they witnessed last year, with both the men and women’s events producing scintillating finishes that they will hope could be replicated this year. Gerda Steyn’s record-breaking run of 3:29.42, which saw her smash Frith van der Merwe’s long-standing mark of 3:30:36 from back in 1989, remains arguably one of the best…