Inhoudsopgave van 2021-05-26 - Star

Siphelele Dludla siphelele.dludla@inl.co.za PUBLIC Enterprises Minister Pravin Gordhan yesterday said Eskom has managed to reduce its debt by R83 billion in the 2020/21 financial year. The reduction of Eskom’s debt could bode well for the economy and mitigate South Africa’s credit ratings status, as the troubled utility has been the single-biggest threat to the fiscus. Eskom’s debt has been weighing heavily on the country’s finances for many years. Tabling his department’s budget, Gordhan said Eskom’s debt had been reduced from R484bn to R401bn, mainly because of the repayment of the maturing debt and changes in the exchange rate. Gordhan said the government was trying to address operational efficiencies and the financial stability of state-owned enterprises, particularly in the context of a constrained fiscus. On top of reducing its debt,…

EDWARD WEST edward.west@inl.co.za INFORMATION and communications technology group AYO Technology Solutions (AYO), which posted moderate results for the six-months to February 2021 amid the subdued Covid-19 restricted economy, expected a “far improved” second half, chief executive Howard Plaatjes said yesterday. Not beating around the bush, he said: “One can’t really expect great results from any business in this environment. The pandemic has contracted revenues across all industries, which leads to a reduction in customers’ spend on IT infrastructure and services, and has a knock-on effect on our group performance.” He said low interest rates had also put pressure on investment income. While the group had “taken a knock in some divisions,” there had been good demand in other divisions, as well as strong potential for the second half of the…

Debashine Thangevelo debashine.thangevelo@inl.co.za Ilse Klink is one of SA’s finest actresses. And it doesn’t matter if she’s working her magic in front of the camera or on stage, she is a tour de force. Since her breakthrough role as Vanessa Booysens in SABC3’s groundbreaking soapie Isidingo in the late ’90s, she took on characters, irrespective of the scale of importance, with commendable gravitas. Throughout her career, she’s covered a wide gamut of roles, delivering notable performances in movies Ellen: The Ellen Pakkies Story and Dis Ek, Anna, stage productions Fiddler on the Roof, Chicago and Rent and, last but not least, Arendsvlei, Fynskrif, iNkaba, Lockdown and Snitch. She also bagged a small part in Donovan Marsh’s hard-hitting Netflix movie, I Am All Girls. And Klink is one of the…

ITUMELENG MAFISA CURRENT and former employees of global retail and household goods giant Steinhoff say their dreams of luxury holidays and building beautiful homes have been shattered by controversial Steinhoff Sikhulasonke Investments (SSI). The scheme was supposed to see most of the employees of Unitrans, a company formerly associated with Steinhoff, getting shares in the form of units. It was not clear how many shares were in a unit, but the workers were told that when the shares paid out, they would be able to go on holidays in Europe. Financial advisers were even brought to advise employees on how to spend their money. But when 2017 came and the shares were paid out, some employees were left shocked. Seagirl Sibanda, one of the leaders of the former Steinhoff…

CIVIL society organisations advocating for the extension of the Covid-19 Social Relief of Distress (SRD) grant and Basic Income Grant (BIG) say there was no justification for terminating the grants. This as the amandla.mobi campaign recently received a response from the Presidency after handing over a petition with more than 58 000 signatures calling for the R350 Covid-19 SRD grant to be extended and increased. The campaign said after accepting signatures and promising a discussion on the extension, the Presidency had referred them back to the Department of Social Development. “On May 4, after we sent an email asking the Presidency to tell us of the status of the R350 SRD grant, we were told that the issue of extending and increasing the R350 grant was under discussion. After accepting…

Sihle Mavuso sihle.mavuso@inl.co.za Former finance minister Malusi Gigaba has publicly spoken out about the February 2018 interview he conducted with America’s CNN (Cable News Network) where he famously said he hoped former President Jacob Zuma would “do the right thing”. Speaking exclusively to Independent Media in Durban yesterday, Gigaba said the full context of why he said this was explained to Zuma when they met in Nkandla shortly after the eyebrow-raising interview. Some Zuma supporters viewed the interview as a fatal and unexpected stab in Zuma’s back since the former president had defied the markets and power brokers, and alleged threats of collapsing the economy to get Gigaba to the helm. Gigaba’s detractors used that famous CNN screenshot of the interview when he was put under pressure to resign as…

YOU’RE about to call a cab. As you open the app, you get a pop-up message from your bank warning you that three of its other clients experienced poor service from this provider. So, you choose a different ride. This could be the client-service journey of the future. A hyper-personalised approach where your bank acts as your financial friend, assisting you at every touchpoint of the value chain, including your interactions with other service providers. In this world, clients know the value they hold. And brands must offer world-class service as a benchmark, not a bragging point. Clients don’t always know what they want, but they’ll know when they see it. Creativity and innovation are about expanding on the boundaries of rationality, rather than fixating solely on what clients want.…

Why full dams don’t mean water security in South Africa After good summer rains, the dams that supply water to Joburg and much of South Africa’s economic heartland are full. This, then, is the time to start worrying about water supplies. It may sound odd but it’s a lesson learnt from cities across the world over the past two decades. Whether it’s Sydney and Melbourne in Australia, Chennai in India, Barcelona in Spain or São Paulo in Brazil, we have seen that, too often, water crises occur because societies don’t take action until it’s already too late. South Africa had that experience with its Day Zero crisis in Cape Town between 2015 and 2019. Nelson Mandela Bay, in the Eastern Cape, is currently providing more evidence. Despite being advised for…

AMSTERDAM: Human rights lawyer Amal Clooney yesterdayy argued that prosecutors should consider additional charges of sexual violence for a man accused of atrocities including rape, torture and murder during the 2003-2004 conflict in Darfur. The International Criminal Court (ICC) is holding hearings on whether to confirm 31 charges against Ali Muhammad Ali Abd-Al-Rahman, who prosecutors say was responsible for atrocities as senior leader of thousands of pro-government “Janjaweed” fighters in Sudan. On Monday, Prosecutor Fatou Bensouda said evidence showed Abd-Al-Rahman was a commander known as Ali Kushayb who led attacks on villages and was implicated in more than 300 murders and raids that forced 40 000 civilians from their homes. Defence lawyers argue Abd-Al-Rahman, who surrendered in June 2020, is not Ali Kushayb. “I hope that this hearing will…

MIHALI BALEKA @Mihlalibaleka Mamelodi Sundowns co-coach Manqoba Mngqithi has downplayed any aspirations of treating their clash against arch-rivals SuperSport United as a potential title decider, saying their focus is to reach their target of 12 points after five matches. There are four matches remaining before the Brazilians’ league campaign comes to an end. At the moment, they are sitting at the summit of the Premiership standings with 57 points, seven ahead of second-placed AmaZulu who have played a game more. Sundowns will cross paths with SuperSport today at Lucas “Masterpieces” Moripe Stadium where a win will guarantee them their fourth championship in a row. But Mngqithi is not getting carried away, saying they just want to improve their record. “According to our process this is the second match of our…

MIHLALI BALEKA @Mihlalibaleka COACH Josef Zinnbauer understands the frustration from some Orlando Pirates supporters who have lamented the team’s inconsistent outing in the last few months, but he says they’ll fight until the end to qualify for continental football next season. After a bright start to their campaign, which included winning the MTN8 cup title, Pirates have found the going tough in the last few months. They are out of the Premiership title race as they trail leaders Mamelodi Sundowns by 14 points after 26 games apiece. Last weekend, they saw their Confederation Cup journey come to an abrupt end as they were hammered 5-1 on aggregate by Moroccan giants Raja Casablanca in the quarter-final. That defeat leaves them with only a top three finish to play for this season.…

THE RAND yesterday rose to a near two-year high as economic data showed that early signs of turning points in business cycles in South Africa continued ticking up in March. The South African Reserve Bank (SARB) said yesterday that the composite leading business cycle indicator increased further by 1.7 percent in March following an upwardly revised 2.8 percent increase in February. This was the strongest leading indicator print since October last year. In response to this data, the rand strengthened to R13.82 against the dollar, its highest level since mid-July 2019, as the dollar continued to weaken in May despite favourable seasonality. The greenback also lost ground after dovish comments from the US Federal Reserve officials tempered fears about inflation-driven rate hikes. TreasuryONE’s currency strategist, Andre Cilliers, said…

EDWARD WEST edward.west@inl.co.za CORONATION Fund Managers’ headline earnings a share increased by 43.5 percent to 255.8 cents after it benefited from fast-rising markets since March last year and a strong outperformance of its client mandates, chief executive Anton Pillay said yesterday. Pillay said the unprecedented stimulus that was pumped into economies by central banks globally had buoyed capital markets, resulting in record-breaking short-term returns. As at March 31, 2021 most major indices were up well over 50 percent from their March 2020 lows. “Market reaction to Covid-19 presented rarely-seen opportunities for active investors like us, which, in turn, we converted into strong returns for our client portfolios, which positively impacted our revenue,” he said. However, Coronation’s management viewed this as a cyclical high for investment returns and…

Liam Karabo Joyce liam.joyce@inl.co.za PRINCESS Charlene of Monaco has remained in South Africa after she contracted an infection. This is according to the Royal Palace of Monaco. Charlene, born in Zimbabwe and raised in South Africa, has been in the country raising awareness around rhino poaching. And while she was meant to fly back to Monaco, she has been unable to. The statement comes after the princess was meant to be a guest of honour at last weekend’s Monaco F1 Grand Prix in Monte Carlo. The palace said: “During a trip to the African continent as part of a wildlife conservation mission, Princess Charlene contracted an ENT (ear, nose and throat) infection that does not allow her to travel. “Unfortunately, she will not be able to attend the Monaco Formula…

Loyiso Sidimba loyiso.sidimba@inl.co.za A GROUP of ex-VBS Mutual Bank employees want global professional services firm KPMG to pay their salaries until they reach retirement age for its role in cooking the doomed financial institution’s books. The 60 former employees, ranging from a team leader, marketing specialist, credit manager, tellers, cleaners to drivers, lost their jobs after VBS’s collapse. They are now demanding over R230 million from KPMG, which was appointed to audit the now-defunct bank in 2007 and accused the company of being responsible for VBS’s collapse. The ex-VBS employees were retrenched in October 2018 after the bank was placed under liquidation. They insisted KPMG and its former director VBS audit engagement partner Sipho Malaba, a chartered accountant, are to blame. Malaba, the former VBS staff argued, was acting in…

Zintle Mahlati zintle.mahlati@inl.co.za Former ANC spokesperson Zizi Kodwa enjoyed luxury stays at Cape Town’s top hotels worth R656 000 – funded and facilitated by former EOH Holdings executive Jehan Mackay. Evidence on this was presented at the Commission of Inquiry into State Capture yesterday. Kodwa currently serves as deputy minister of State Security. In total, Kodwa allegedly received payments and luxury hotel accommodation worth over R2 million. The managing director of ENS Forensics, Steven Powell said these payments were made between March 2015 and February 2016. Powell had conducted a forensic investigation into EOH Holdings and in the process found payments made to the ANC and individuals linked to the party. When these payments were made EOH Holdings was bidding for two government contracts. The Eastern Cape had issued a…

Sibusiso Mboto sibusiso.mboto@inl.co.za CANNABIS farming could provide a good opportunity for entrepreneurs, especially those from previously disadvantaged groups, to enter the economic space. This is according to farming organisations, commenting following Economic Development and Tourism MEC Ravi Pillay’s announcement that the department was fast tracking the granting of licences and permits to interested parties. Delivering the department’s R3.3billion budget at the KwaZulu-Natal Legislature on Friday, Pillay said there had been a lot of excitement from interested parties keen to explore the cannabis market. “We have to date received 238 applications for Hemp Cultivation Permits. The Minister of the Department of Agriculture and Rural Development has just announced that permits are expected to be issued from October 2021 onwards. We have also received numerous applications for licences for cannabis for medicinal…

THIS past weekend, DA leader John Steenhuisen stood behind a podium and launched his party’s local government elections campaign. Surrounded by the DA faithful, Steenhuisen made his sales pitch to South African voters, telling them that, once in power, his party could turn the country’s fortunes around. But truth be told, the DA and other opposition parties have a mountain to climb to overcome the ANC’s baked-in support. In 2006, the DA wrested control from the ANC in Cape Town. In 2009, it took over the Western Cape. But 15 years later in Cape Town, the DA giveth and taketh away – the party has defended white privilege in its allocation of resources and squeezed ratepayers, in favour of property developers. Then DA leader Helen Zille would often boast that…

Hosia Sithole The annual commemoration of Africa Day on May 25, which has been invariably described as a fuss about nothing, must be materially changed to rid itself of this negative perception by shifting attention to creating an enabling environment for fundamental social and economic change. The day should not merely be for pontificating and empty sloganeering, but should rather provide a platform to engender a desire for the development of insightful strategies for the continent to be better prepared to deal with challenges of the present time. In the light of the fallout from Covid-19, it is even more pressing that solidarity and the unity of the continent take precedence over everything else. The continent faces profound challenges that are widening the divide between rural and urban communities.…

MOSCOW: Jailed Russian opposition figure Alexey Navalny said yesterday that he was a subject of three criminal probes, including over embezzlement, management of a harmful non-profit and, most recently, insult of a judge. Navalny said he learned about the number of legal proceedings against him from a Russian federal investigator who visited him in jail. The opposition figure is currently serving a two-and-a-half-year sentence for financial misdemeanour in a penal facility in Russia’s Vladimir Region. According to Navalny, he is being accused of embezzling the donations to his Anti-Corruption Foundation (FBK, designated foreign agent in Russia) in one probe and creating a non-profit organization that infringes on citizens’ rights in another probe, as well as insulting judge Vera Akimova, who handled the libel case against him, in the most recent…

THESE pages have always been reserved for sports. Often politics does worm its way in for we know very well that sport cannot operate in isolation. So pardon the last pun for this column does indeed relate to our national government’s handling of Covid-19 and sport – and specifically related to school sport. Last week the Department of Education suspended all contact sport in schools nationally with immediate effect due to a cluster outbreak in Johannesburg. There have also been cases in the Eastern Cape, where the traditional derby between Grey High School and Queens College had to be suspended due to Grey’s strength and conditioning coach testing positive for Covid-19. Now, I am not one of those arrogant individuals who asks why I can’t watch my son/daughter play sport…

Edward West edward.west@inl.co.za US PRIVATE and equity investment firm Sassoon Group has approved $50 billion (R692.5bn) for possible investment in South Africa over five years, chairperson David Sassoon told Business Report yesterday. J Sassoon Group, which is more than 500 years old and is the world’s oldest independent family-owned investment firm, planned to launch a Joburg office before the end of the year, said Sassoon. Sassoon said the group’s first investment in the country was $20 million in finance to a South African 100 percent black-owned energy start-up, Bluedrop Energy, for the construction of a state-of-the-art LPG cylinder manufacturing plant. The $20m was the first investment that formed part of $100m private equity funding that was available to invest in emerging, entrepreneurial and innovative businesses in South Africa.…

GRINDROD Shipping Holdings, the JSE listed logistics group said yesterday that it had completed sales of the 2013-built medium-range tankers Leopard Moon and Leopard Sun. In conjunction with the sales, appro-ximately $24.7 million (R344.4m) debt remaining on the credit facility with NIBC Bank NV was repaid in full. The sales generated $17.9m in net proceeds after debt repayment with a further $2.7m release of restricted cash associated with the loan. Last month’s sale of the 2009-built small tanker Breede, which constituted part of the security package for the group’s $100m senior secured credit facility and was released from the security package in connection with the closing of the transaction. The group said that some $3.8m debt was repaid on the facility and the sale generated net proceeds to the company…

QUEEN OF THE SOUTH 2 TELEMUNDO, DSTV CHANNEL 118, 10PM Teresa meets with Lupo at a restaurant. Meanwhile, Sofia starts a fire on the dock, which draws the attention of the police, who arrive at the house. LAW & ORDER: SVU S22 UNIVERSAL TV, DSTV CHANNEL 117, 8PM This season has already seen appearances from Law & Order alumni Rafael Barba (Raul Esparza), Lt Carolyn Barek (Annabella Sciorra) and Sgt Phoebe Baker (Jennifer Esposito), with more familiar faces to come. EXTINCTION: GOING, GOING, GONE CURIOSITY CHANNEL, DSTV CHANNEL 185, 8PM Learn a thing or two about the countless animals across the globe that are facing extinction in this week’s Wildlife Wednesday programming. As the globe faces a crisis of monumental proportions, humans must dig deep to understand…

Anna Cox Orange Farm and surrounds have been allocated a medium-term capital allocation of R625 million which will include stormwater drains, tarring of gravel roads, the construction of a public transport facility, social housing and shelters for gender-based violence and femicide victims. In Kliptown there will be new bulk infrastructure in the area’s housing project and Walter Sisulu Square. Ivory Park and surrounds will get funding for housing, a swimming pool and a development catalytic node infrastructure project. The Environment and Infrastructure Services Department’s budget of R154.9m will be dedicated to waste-sorting facilities, increasing the city’s waste treatment and disposal capacity and to fast-track the waste to energy programme. Pikitup will contract at least 40 co-operatives, which in turn will employ, on a short-term basis, 10 to 15 people…

Baldwin Ndaba baldwin.ndaba@inl.co.za THE final decision on former ANC treasurer-general and lawyer Mathews Phosa’s intentions to withdraw criminal charges against former Constitutional Court Justice Zak Yacoob rests with the National Prosecuting Authority or a prosecutor. This is according to criminal law expert Rudi Krause of BDK attorneys after Phosa and Justice Yacoob smoked the peace pipe following their ugly spat over Phosa’s legal advice to suspended ANC secretary-general Ace Magashule on the ANC step-aside rule in October last year. The dispute between Phosa and Justice Yacoob arose on Friday last week, after the Justice contacted Phosa on his phone and questioned his decision to provide legal opinion to the Magashule on the ANC’s step-aside policy in October last year. The discussion ended on a sour note, which prompted Phosa to…

Peter Bachtis | Benoni Had this government acted in good faith, in protecting its citizens, the need for weapons for self-protection would not be necessary. Protecting oneself from rampant and out-of-control criminality in this country is not negotiable. The process of disarming law-abiding citizens is part of a broader philosophy to exercise absolute control ... without fear of any retaliation. To those in government who are pushing this agenda, think carefully of the consequences of your actions. The ANC have proven that they are incapable of protecting and serving the citizens of this country. In fact, they are a dismal failure! Therefore, the message to Minister Cele is straight forward: the people of this country will defend themselves by any means, considering the failure of this government…

Gary Austin | Joburg I refer to the front page article in The Star on Monday, “Health’s R105bn lawsuit headache”. It is preposterous of the government to expect victims of medical negligence, occasioned by the incompetence of its own hospitals, to return to those hospitals for further treatment. A prime example is the Charlotte Maxeke, which has been shut since April 16 due to it being unsafe. The state should concentrate on settling claims in an expeditious, cost-effective manner, rather than wasting billions or rand on defending indefensible claims and trying to avoid its common law and constitutional obligations to the public. Those costs could be used to upgrade the health-care system.…

THE South African football league has to rank as one of the lowest-scoring leagues around. It simply lacks goals, and teams see no reason to score more goals since there are no incentives to recognise their efforts. As things stand, Mamelodi Sundowns will win the season with a total not exceeding 45 goals. None of their players has 20 goals. In fact, the league’s top scorer has had a paltry 14 goals for a while now. Swallows have 18 draws out of 27 games. Other teams have moderate scoring averages per game. Goalless draws and low-scoring games, even when teams win, are endemic in South African football. The problem isn’t new but no one cares to rectify it. Although the league is said to be rich, the majority of teams…

Bamako: Mali was in turmoil yesterday after disgruntled army officers detained the president and the prime minister, sparking fears of a coup less than a year after the last military takeover in the impoverished west African nation. The newest crisis to hit the vast country where jihadists control large swathes of territory sparked widespread international condemnation. Army officers upset with a government reshuffle detained President Bah Ndaw and Prime Minister Moctar Ouane and took them to the Kati military camp on the outskirts of the capital Bamako, two senior officials who declined to be named told AFP. The pair lead an interim government that was installed under the threat of regional sanctions following a putsch in August, and the detentions on Monday raised fears of a second coup. They were…

HERMAN GIBBS The indefinite postponement of the African Athletics Championships has dealt a hammer blow to athletes who have been deprived of a last-ditch attempt to qualify for the Tokyo Olympicss. The fate of the continental championships remains unclear after the Algerian government postponed the event without offering new dates. This disconcerting news comes at a time when the June 29 Olympics qualifying deadline looms large. Many African athletes saw this event as a final chance to qualify. The Confederation of African Athletics is also in the dark. They will be waiting on the Algerian Ministry of Youth and Sports, who will decide on a new date as soon as they feel the health situation has improved in the host country. The saga has proved a nightmare for Athletics…