Inhoudsopgave van 2023-03-14 - Star

JSE-LISTED financial services group Absa, which raised dividends for the full year to December by more than 60%, warned yesterday that worse was still to come for the economy, which it projected would grow by less than 1% this year. The bank sees load shedding worse- ning and impairments intensifying in the year ahead. Impairments have worsened for South African banks such as Standard Bank and Absa in the past year, given tougher macro-economic conditions in the home market and in the region, where countries such as Ghana struggle with sovereign credit risks. Despite anticipating revenue growth in 2023, building on the R98.9 billion revenue for 2022, which was 15% stronger on the prior year, Absa is expecting “credit losses at the top end of its target range given…

SHARES of The Foschini Group (TFG) dropped by almost 9% yesterday after the clothing retailer said it estimated that load shedding had reduced its TFG Africa’s retail turnover by approximately R1 billion in the 2023 financial year. The share price tumbled 8.88% to an intraday low of R85.62, but recovered to close 4.10% down to close at R90.12. In its trading update for the year ended March 31, 2023, the group said TFG Africa had lost about 120 000 trading hours during the two-month period due to continued load shedding across all provinces in South Africa, which represented 9.4 times the lost trading hours over the same period in the previous financial year. This equated to 345 000 lost trading hours for the 11 months ended…

THE MIXED fortunes among various subsectors of South Africa’s agriculture meant that growth, at least in the first quarter of the year could be subdued with a potential recovery later in the year, Agricultural Business Chamber (Agbiz) chief economist Wandile Sih- lobo said yesterday. “The available soft insights suggest that near-term growth prospects of the agricultural economy are weak after subdued growth of 0.3% year-on-year (y/y) in 2022. “For example, the livestock and poultry industries, which account for roughly half of the agricultural sector’s value are under pressure amid relatively muted cattle and beef prices, while farmers also continue to face higher input costs for maize and soybeans,” Sihlobo said. Ongoing load shedding was particularly challenging for the poultry industry, with the unreliable electricity supply causing significant production interruptions. “As…

Everything Everywhere All At Once was the big winner at the Oscars on Sunday, taking home seven awards. The surrealist comedy-drama became the most-awarded Best Picture winner since Slumdog Millionaire – which won eight prizes in 2009 – with a string of successes at Los Angeles’ Dolby Theatre, including Best Director and Best Original Screenplay for filmmaking duo The Daniels, and acting honours for Michelle Yeoh, Jamie Lee Curtis and Ke Huy Quan, who took home the Leading Actress and Supporting Actress and Actor awards, respectively. In addition, the film also won for Best Film Editing. In her acceptance speech, Yeoh hailed her win as a “beacon of hope and possibilities” for Asian people and urged those watching at home to “dream big”. She said: “For all the little…

BRITISH Telecom SA (BTSA) managing director, Bertrandt Delport, yesterday afternoon admitted that he had no first-hand knowledge of board level discussions at the company in the period prior to his joining the board in mid-2018. Delport was testifying for the second day in the case in which JSE-listed AYO Technology Solutions is defending itself against claims by the Public Investment Corporation (PIC) that a R4.3 billion shares subscription agreement between both parties in 2017 was illegal. Delport was in charge of the legal aspects of the deal with AYO at the time. The admission came after AYO senior counsel Karrisha Pillay, who was leading the cross-examination, had asked Delport, who began working as BTSA’s internal legal counsel in April 2017, about the extent of his involvement in discussions at…

HER way with words and love for writing is what inspired Durban psychologist, and Purple Brain founder, Shameema Siddique, to publish her book of fiction, The Stylist Psychologist. The book was launched at the Mind Game Escape in Umhlanga Rocks at the weekend. Siddique described her book as a tribute to successful women who are working hard in the corporate environment and do not receive validation and recognition for the massive efforts that they put into their positions. “Having previously worked in corporate myself, I can deeply identify the workings of the environment and also just an observation of other women as well,” said Siddique. She said the book aimed to encourage hard-working women to keep aiming higher for themselves. “It is a book about a beautiful woman, who is…

Vivari Spa by Mantis founder and president of the South African Association of Cosmetic Doctors (SAACD), Dr Anushka Reddy, continues to blaze the trail when it comes to cosmetic surgery. Her latest business venture, Vivari Hotel and Spa, is a facility where you can undergo a range of cosmetic surgeries while enjoying a luxurious escape. Set in the cushy suburb of Feather- brooke, Krugersdorp, Vivari Hotel is the only hotel that comes with a complete medical clinic and hospital facility offering a range of surgical procedures, including liposuction, while enjoying luxury living, Reddy said. Speaking to The Star, she said her vision had always been to ensure that Vivari Aesthetics becomes a centre of excellence for a specialised minimally invasive cosmetic and anti-ageing clinic, while ensuring visitors a tranquil space…

Newly appointed Minister of Sport, Arts and Culture, Zizi Kodwa, says all expressions of dissatisfaction within the creative industry have been received and he will ensure full support is provided. Kodwa attended the 6th Royalty Soapie Awards, where a slew of local thespians who are major contributors to the South African daily TV drama and entertainment industry were formally recognised. He took to Twitter to express his appreciation for the founder and CEO of the awards, Winnie Ntshaba, further revealing that they will work together to ensure initiatives like these celebrating the creative arts are supported. “Sending my appreciation, Winnie Ntshaba, for a well-delivered and artfully done instalment of the Royalty Soapie Awards. Working together with all stakeholders in the sector, we will continue to ensure initiatives like these ……

We live by the grace of our Lord, Jesus Christ. Many of us, including health-care workers who risked their lives saving their fellows without looted personal protective equipment, tragically departed this planet. Climatic floods drowned others in KwaZulu-Natal. The unrest of July 15, 2021 claimed more than 36 lives in Phoenix. Mass killings in taverns and other places followed. Now we walk in fear of being mauled by wildlife. Casualties of all the fatalities, risks and threats were and are the landless and vulnerable blacks surviving in an unequal society. In Walkerville, William Mokoena survived the claws of a female tiger. In Limpopo, a subsistence donkey owner lost his stock to a roaming lion. Another Limpopo man escaped a tiger attack. Presently, a lion in the Hartbeespoort Dam area and…

MTN GROUP’S shares plunged more than 12% at some stage yesterday as its management team downgraded its margin guidance on its South African business. Its chief executive, Ralph Mupita, warned that if South Africa did not act to solve its problems it would become a failed nation. MTN shares closed the day 10.68% lower at R126.24, despite the diversified telcoms group reporting strong annuals for the year ended December 31, 2022, and saying it planned to spend R9 billion on its South African network. MTN revised its targeted core profit margin guidance for South Africa down to 37% from 39%, from 39% to 42% previously, due to higher-than-expected power costs, increased hubs and switches costs as a result of load shedding, higher network security and resilience costs, as well…

Joburg-based band Easy Freak released a new single, All I Want, on Friday. They also dropped the music video for the song. The song, which features music sensation Langa Mavuso, has been described as a groovy love ballad with a nostalgic R&B sound. The video, directed by Avi Mack and filmed by Jared Hinde, shows Mavuso playing the piano during an eclipse. Easy Freak is made up of Dom Hurd and Jude Kenrick and the duo have been making waves and getting crowds moving to a “fresh sound”. In a press statement shared with IOL Entertainment, the duo said they were thrilled to work with Mavuso. “When we made this song, we wanted to take it back to the late ’90s and early 2000s and incorporate an R&B sound along…

Health Minister Dr Joe Phaahla would not be drawn into confirming allegations that as many as eight children could have died due to the ongoing strike by healthcare workers affiliated with the National Education, Health, and Allied Workers Union (Nehawu). Phaahla did an oversight visit yesterday at Thelle Mogoerane Hospital in Vosloorus, Ekurhuleni, where members of the South African National Defence Force (SANDF) had been deployed to assist since the hospital is one of the hardest hit by the strike. There was also high police visibility, including SAPS and the Ekurhuleni Metro Police Department (EMPD). According to unconfirmed reports, about eight children have died since the inception of the wage strike, which enters its eighth day today. A source who spoke to The Star over the weekend, on condition…

It has been more than a year since Sthembinkosi “Bujy” Bikwa and Boity Thulo were in a physical brawl, but their spat continues to grab attention. Bikwa, known for his flamboyance and outgoing character, took to social media to speak up about the aftermath after allegedly assaulting Boity in 2021. In his posts, Bujy clarified that he would never intentionally harm anyone, and said he had suffered as a result of the altercation. He has also met criticism and been accused of playing the victim on social media, as many continue to weigh in. “At what point do you think I would effortlessly go out of my way to attack any human being? What do I gain? I chose not to defend myself publicly because I respect the law and…

The union of newly appointed Deputy President Paul Mashatile has sparked chatter on social media after it was revealed that he reportedly married his close friend’s widow, Humile Mjongile. Mashatile is reported to have tied the knot in a traditional ceremony at the weekend with the widow of former ANC Western Cape secretary, Songezo Mjongile. Mjongile died in September 2020 after a battle with colon cancer, while Mashatile’s wife, Manzi Ellen Mashatile, died in July 2020. In 2021, Humile launched a foundation that seeks to raise awareness about colon cancer. It is reported that Mjongile and Mashatile’s wife died only three years ago, raising the question of when the pair started seeing each other. According to City Press, Mashatile’s spokesperson, Keith Khoza, confirmed that the deputy president got married in…

Kaizer Chiefs enjoyed their third win in a row in all competitions after defeating National First Division outfit Casric Stars 2-1 in the Nedbank Cup last-16 on Sunday night, but their performance lacked intensity and rhythm. Coach Arthur Zwane did not mince his words after the match and said: “It should have been an easy game if we applied ourselves correctly. “We started off very well, we put them under early pressure and we forced a penalty. “I thought we would keep the momentum but then we conceded a goal out of complacency. It’s one of those things.” Although Zwane enjoyed the distinction of being the first coach to guide Kaizer Chiefs to the Nedbank Cup quarter-finals in four seasons, he wants to forget Sunday’s triumphant clash at the FNB…

The Proteas completed a 2-0 cleansweep over the West Indies to hand captain Temba Bavuma and coach Shukri Conrad their first Test series victory. Here, starting from the top-order down, Zaahier Adams rates the players’ individual performances in the two-match Test Series, completed with a comprehensive victory on Saturday at the Wanderers. Aiden Markram 9 out of 10 Runs: 275, Ave: 69, HS: 115, 100x1, 50x1 The undoubted Player of the Series with the recalled Markram enjoying a bountiful return to the top of the order. Unlucky to miss out a consecutive centuries, Markram has fully repaid Conrad’s faith in him. Dean Elgar 6.5 Runs: 119, Ave: 29.75, HS: 71, 50x1 The former skipper provided the Proteas with two solid first innings starts that set…

The road to the Cricket World Cup under the leadership of coach Rob Walter starts now as the Proteas take on the West Indies in a three-match one-day international series in East London (twice) and Potchefstroom. Here, Ongama Gcwabe takes a look at five objectives Walter and his charges must tick off during the up-coming limited over series. CULTURE AND PLAYING STYLE Prior to the ODI England series in January, which the Proteas won, the ODI side essentially had no identity or playing style. The main objective for Walter and captain Temba Bavuma is to establish a team culture, as well as a distinct style. Clarity in both those aspects will make it easy for players to understand their roles within the team, which is what the Proteas need going…

Cape Town City are currently the only Premiership team with three league wins on the trot and they hope to continue that run when they host Marumo Gallants in Green Point tonight. Not even the mighty Mamelodi Sundowns can presently claim three consecutive victories after they were held to a 1-1 stalemate by a spirited Stellenbosch FC side two weeks ago. This rich vein of form has sent City’s hopes of a continental slot next season soaring sky-high and all that the side must do today is to defeat the weakest Premiership team to edge closer to that prize. Gallants are rock-bottom and are heading for relegation, unless they can produce a dramatic turn-around in fortunes. Overall, City have won six of their last 10 league games since the World…

SHARES in Sun International leapt more than 7% yesterday after it reported that while load shedding had impacted its costs, it had seen a strong recovery in its resorts and hotels business last year after Covid-19 restrictions were eased. Its shares closed 3.96% up at R34.40 on the JSE yesterday.. For the year ended December 31, 2022, the casino, gaming and hotel group said due to consumers going out and gambling, adjusted headline earnings grew from R110 million to R1.1 billion, with adjusted headline earnings growing from 44 cents per share in the prior year to adjusted headline earnings of 439c per share. The group reported earnings before interest, taxes, depreciation and amortisation (Ebidta) grew by 96% to R3.3 billion. The board declared a final gross…

THE AGBIZ/IDC Agribusiness Confidence Index (ACI) deteriorated further by 5 points in the first quarter of this year to 44 points – the lowest reading since the second quarter of 2020 when Covid-19 lockdown restrictions were first implemented. This recent decline followed a 4 point decline in the last quarter of last year. The persistent and intense episodes of load shedding, higher input costs, rising protection in some export markets, rising interest rates, intensified geopolitical tensions, which disrupted supply chains, and ongoing weaknesses in municipal service delivery, and network industries were again the key factors survey respondents cited as their primary concerns, said the index authors. This survey was conducted in the final two weeks of February, covering businesses operating in all agricultural sub sectors across South Africa.…

The death of multi-award winning artist Costa Titch, real name Constantinos Tsobanoglou, has sent shock waves through Mzansi. The rapper died on Saturday after collapsing on stage during a performance at music festival Ultra SA, at the Expo Centre in Nasrec, Johannesburg. He was performing in the new Smirnoff Storm Room, a platform for amapiano and Afrotech music lovers. He fell twice on stage before being helped off to receive medical attention. His family confirmed the death on Sunday morning in a statement, released on his social media platforms. They have confirmed he was 28. “It is with deep pain that we find ourselves having to acknowledge his passing at this time. “We are thankful for the emergency responders and all those present in his last hours on this Earth.…

DA LEADER John Steenhuisen has accused President Cyril Ramaphosa’s ministers and deputy ministers of having insulated themselves against load shedding while millions of South Africans live under constant blackout. Steenhuisen was addressing scores of his party supporters outside the Bryntirion Ministerial Estate – the biggest in South Africa – in Pretoria, which houses ministers and deputies. The DA was picketing outside the estate in Stanza Bopape, accusing the leaders of living in luxury while many people went to bed without a meal. “These Cabinet cadres have even insulated themselves against the load shedding crisis they caused – all using taxpayer money,” Steenhuisen said. “Ministers who have run this country into the ground are living in 97 mansions in Cape Town and Pretoria, worth nearly R1 billion. The 624 support staff…

Ingredients 4 chicken breasts on the bone 2 tbs olive oil Salt and milled pepper 4 chicken breasts on the bone 1 tbs garlic and ginger paste 1 tbs ground cumin 1 tbs ground coriander 2 sticks cinnamon 3 cups chicken stock 1-2 tbs smooth apricot jam Juice of 1-2 lemons ½ packet risoni or couscous ¼ cup raisins ¼ cup Turkish apricots, sliced Handful basil, for serving Method Heat oil in an ovenproof dish. Season chicken and brown for 5 minutes. Remove and set aside. Add garlic and ginger paste, cumin, coriander and cinnamon. Fry for a minute and remove from heat. Combine stock, jam and some lemon juice. Return chicken to pan and scatter with risoni or couscous. Add stock mixture. Bake at 190°C for 15 minutes.…

WITH another big cat on the loose in Centurion, lion whisperer Charmaine Joubert has called on authorities to display caution in tracking it down and “not to simply shoot it”. An extensive search is under way to track and capture the lion which has been spotted around the R511 road, near the Hennops Hiking Trail, and areas bordering Gauteng and North West. Joubert, an old hand at working with predators at Mystic Monkeys wildlife park in Bela Bela, said people searching for the lion should follow the correct procedure when they were confronted by the king of the jungle. “I urgently appeal to the authorities or anyone else not to simply shoot it. The correct people – preferably experts – should be involved in the search operation. “The correct thing…

What inhumaneness! What lack of respect for the Constitution and Bill of Rights! What lack of respect for human beings seeking medical attention we have seen in the past few days! Is this the values, morals and ethics that we learnt at home from our parents? Is this what we want our children to witness and absorb? Where is the spirit of Ubuntu, humanity to others? I am sure most South Africans are as traumatised as I am to see video clips on social media and news channels of vulnerable patients being barred from entering hospitals and health-care workers from carrying out their essential services. The Nehawu strike, which has disrupted health-care services at many hospitals, risking the lives of helpless sick people, many of whom rely on the public…

Brad Binder and his Red Bull KTM team will have to overcome “unexpected issues” over the next two weeks if they are to make an immediate impact in the 2023 MotoGP season, which starts in a fortnight. Ducati will go into the opening Portuguese Grand Prix at the Algarve International Circuit on March 26 as the early favourites, with Binder & Co hoping they will be able to unlock the beast within their RB16 by then. Pre-season testing for the elite category concluded this past weekend at the same circuit, with the South African finishing ninth on the timesheet – 0.512 seconds behind early pacesetter and defending world champion Francesco Bagnaia of Italy on his Ducati. Indeed, the Italian motorcycle manufacturer enjoyed a terrific second day of testing, with seven…