Inhoudsopgave van 2023-12-13 - Star

SWISS commodity trading and mining company Glencore has been served with court papers by Richard Spoor Incorporated (RSI) for allegedly breaching their duties to mineworkers in South Africa. RSI yesterday launched its fourth and final application for certification of a class action against coal mining companies for their alleged breach of duties to mineworkers. The human rights law firm said in a statement it had filed the class action yesterday against Glencore Holdings in South Africa at the Gauteng Division of the High Court. This follows previous similar applications this year by RSI against South32 Group, the Anglo American Group and the Exxaro Group. RSI said it sought justice and compensation for mine workers who contracted lung diseases while working in the mines. The thousands of miners represented in each…

Electricity Minister announces a Section 34 ministerial procurement determination THE GOVERNMENT’S decision to procure an additional 2 500MW of nuclear energy in the next 10 years has been met with mixed reactions by electricity industry experts as the Department of Mineral Resources and Energy (DMRE) is yet to release the updated Integrated Resource Plan 2023 (IRP 2023). This comes after Electricity Minister Kgosientsho Ramokgopa yesterday announced a Section 34 ministerial determination for the procurement of 2 500MW of new generation capacity from nuclear, following the approval of the National Energy Regulator of SA (Nersa). Ramokgopa said the DMRE had to satisfy a number of rigorous suspensive conditions required by Nersa, which take into account various factors before the go-ahead could be issued. After meeting all the suspensive conditions,…

THE COMPETITION Commission said yesterday that it has referred a matter of price discrimination to the Competition Tribunal for prosecution. The commission said that Saint-Gobain Construction Pro- ducts South Africa (Saint-Gobain) allegedly contravened section 9(1)(b)(ii) of the Com- petition Act, 89 of 1998 (as amended), by engaging in price discrimination against PE African Brick Centre, a small and medium enterprise (SME) hardware store located in Gqeberha, Eastern Cape. In a statement, the commission said that Saint-Gobain was believed to have sold Cretestone to the complainant at prices which are 20% higher than those of other larger hardware stores located in the same region. Saint-Gobain is a supplier of various construction products, including a natural gypsum-based plaster called Cretestone which is used for plastering to give walls a smooth finish.…

GOOGLE lost an antitrust lawsuit filed by video game maker Epic Games, with a jury finding the tech giant’s mobile phone app store is an illegal monopoly. The decision is a major blow to the tech giant, which has mostly been able to avoid losing lawsuits and being forced to make changes to its products despite years of investigations into allegations that its practices break competition laws. The jury’s decision could open up other Big Tech companies to challenges on how they control pricing and payments on their massive internet platforms. On Monday, a jury (in California) answered yes to each of the 11 questions put to Google, including whether Google has a monopoly in how apps are distributed on Android phones, whether Google broke competition laws in how it…

SOUTH Africa sacrifices its economy and energy sovereignty on the altar of ambitious climate change goals. Countries are sacrificing their growth in the ongoing global climate change battle and clash of the titans as to who will eventually control the climate debate leading up to 2050. The 2023 COP28 Summit was a difficult one. About 200 countries attended it, but have emerged completely opposed to either side of the climate debates. The world is now more deeply divided after the summit on which cause to back regarding the climate question. The industrialists of oil-rich producing nations are not in agreement with the current ambitious economic and sovereignty-threatening climate change goals pushed by the UN Framework Convention on Climate Change. One side is against the end of fossil fuel use, while…

A KEY FEATURE of the recently released gross domestic product (GDP) figures is the mounting cost of an inefficient economy and its impact on growth prospects for the country. The economy contracted by 0.2% with load shedding and bottlenecks at port and rail operations playing a key role. 1. Urgency is required: it’s a South African story While the rand typically takes its direction from global markets, the number of South African specific factors are beginning to take their toll. This is weighing on our growth prospects and reflecting in the performance of the currency. Current estimates are that the issues at Transnet alone are costing the country more than R1 billion per day, or 5% of GDP growth annually. The South African economy is closely tied to…

Two stars will reportedly play James Bond in the next 007 instalment. A pair of A-listers are said to be in the frame to play younger and older versions of the spy in the upcoming Bond flick – with insiders adding Paul Mescal is top of the list for producers to play the more youthful Bond. The Sun reported the film “will star two 007s – one younger and one older”, and added: “Bosses have begun lining up actors to play both roles and among their top targets is Oscar-nominated Paul Mescal”. Mescal, 27, is understood to be in talks to play the younger MI6 spy in the next flick, 26th in the franchise. He shot to fame in 2020 in BBC Three’s sex drama Normal People, and is playing…

A “pure light, and an even purer heart” is how musician Zahara was described by her family yesterday as they announced her passing. Taking to her official Instagram account, they confirmed Bulelwa “Zahara” Mkutukana had passed away on Monday “surrounded by family and loved ones”. Minister of Sport, Arts and Culture Zizi Kodwa was one of the first to announce the award-winning singer’s passing on social media. “I am very saddened by the passing of @ZaharaSA. My deepest condolences to the Mkutukana family and the South African music industry. The government has been with the family for some time now,” tweeted Kodwa. “Zahara and her guitar made an incredible and lasting impact on South African music,” he said. Paying tribute to her, her family wrote: “It is with heavy hearts…

The VP Justice Foundation has penned a letter via its lawyers, Gosai and Company Incorporated, to relook the corruption charges against suspended re- gional court president Eric Nzimande. He is accused of taking bribes to facilitate acting magistrate appointments. The foundation argues that Nzimande is being singled out for prosecution while the other parties – who are magistrates – are being protected and given preferential treatment. Last month, Independent Media reported that Nzimande was charged with five counts of contravening the Prevention and Combating of Corrupt Activities (Precca) Act by allegedly receiving unauthorised gratification to the value of about R230 000. “Nzimande, as the regional court president for KwaZulu-Natal (KZN) was responsible for making recommendations to the Minister of Justice for the appointment of acting regional court magistrates,” said NPA…

When it comes to collectibles among the world’s wealthiest, there’s no saying what might pique their interest, but million-dollar number plates? As a South African living in KwaZulu-Natal, it was appalling to know that we had to pay extra bucks because the province changed its licence plates. So imagine what it felt like to know that one Dubai resident splurged £12m (about R288m) for the title of owner of the “World’s Most Expensive Number Plate”. The top 10 most expensive number plates all come from the United Arab Emirates, mainly Dubai and Abu Dhabi, according to Regtransfers.co.uk. They all have a single-digit number, their values ranked in pounds sterling. In 10th place, Abu Dhabi 50–7 is valued at £2 958 000. And the remaining shameless big spenders are: Ninth –…

It’s interesting that Chief Justice Raymond Zondo attributed certain mistakes of the judiciary to a test by some in society. That’s a small-picture assessment of the situation. The reality is that people are still suffering from lingering effects of political manoeuvring and selective justice characterised by fraud within the system. From 2017, history is replete with a sheer drop in moral and ethical standards – worsened by unintelligible judgments cloaked as judicial discretion. Yet, Zondo equates the illusionary test to his infamous contempt of court dispute with former president Jacob Zuma. Besides, he has time to sling mud at Zuma when families were robbed of their loved ones and future prospects of a better life as a consequence of his vindictive indignation. Zondo is known for spectacular misjudgement fraught with…

After losing four games in a row on tour, the Stormers need to show patience to turn things around. That was the advice from veteran flank Deon Fourie, who will be itching to get back on to the pitch in Saturday’s massive Champions Cup showdown with La Rochelle at Cape Town Stadium (3pm kick-off). John Dobson’s team started the season well enough, beating the Lions 35-33 in Johannesburg before thrashing the Scarlets 52-7 in Stellenbosch. But despite being in contention in all four United Rugby Championship tour matches, they lost 20-9 to Glasgow, 20-17 to Benetton, 10-3 to Munster and 31-24 to Cardiff. It wasn’t so much the results, but rather the mistakes they were making that cost the Stormers victories. They stopped the bleeding somewhat in an unconvincing 31-7…

RGS GROUP Holdings, one of two short-listed bidders that aim to bring Tongaat Hulett out of business rescue, had lodged an urgent High Court application to force Tongaat’s business rescue practitioners (BRPs) to hold a creditors’ meeting tomorrow, and to ensure that RGS’s bid be put first on the agenda. RGS’s application had sought to be consolidated for a joint hearing with the applications filed by RCL Foods Sugar & Milling and the South African Sugar Association, who were attempting to stall Tongaat’s creditors’ meeting until certain industry levies and payments were made. The RGS application sought that the BRPs be ordered to convene the creditors’ meeting tomorrow (December 14), that the BRPs be prohibited from conducting a “Pre-Meeting Proxy Vote” to determine the sequence in which the two proposed…

As things stand now and if nothing changes, South Africa will see another petrol price decrease of more than R1 per litre as well as a drop of more than R2 per litre on diesel in January, the Fuel Retailers Association (FRA) forecasts. Reggie Sibiya, the CEO of FRA, said in an interview with Business Report that it was pleasing that fuel prices had come down over a long-term comparison. “In July 2022 the Litre of ULP95 inland was R26.74 and was this month sitting at R23.25, a decrease of 13%. How- ever, taking into account consumer hard- ships due to the economic pressures, one is mindful that more relief is required,” Sibiya said. Petrol is 22% more expensive than two years ago, and diesel 41%. South African have…

IN RESPONSE to evolving market dynamics, Fitch Ratings has revised certain price assumptions in the global metals and mining sector. According to Fitch Ratings, the adjustments are reflective of changes in production, demand-supply balances, and market conditions across key commodities. Fitch Ratings has increased its thermal coal price assumptions, citing falling production levels due to reduced investments. The adjustment considers the gradual contraction of the global seaborne market in comparison to the Chinese domestic market. Lower investments in thermal coal mining are expected to curtail production, acting as a mitigating factor against shrinking demand and moderating the pace of price decline. The rise in coal production costs, particularly in Australia, is foreseen to provide additional support to prices. The rating agency has raised iron ore prices for the period 2023…

Jubilee’s new copper project in Zambia, announced yesterday, sent its share price soaring 19.05% to close at R1.50 on the JSE yesterday. The diversified and metals recovery business in South Africa and Zambia said yesterday that it had secured one of the largest copper waste rock assets in Zambia, and had formed a strategic partnership with Abu Dhabi-based International Resources Holding RSC (IRH), for a R975-million project. By using Jubilee’s newly developed modular copper processing unit, the aim was for the historical waste dump to produce in more than 20 000 tons per year of copper at a cost of below $4 000 (R75 445) per ton of copper. “The transaction marks a signifi- cant milestone on our journey in Zambia, catapulting our copper expansion in the…

ECONOMIC growth in South Africa could rebound slightly by the end of the year if load shedding and the logistics crisis do not disrupt the momentum in industrial activity after mining and manufacturing output began the fourth quarter of 2023 on a positive note. Mining and manufacturing industries are two major contributors to the South African gross domestic pro- duct (GDP), and their 1.1% and 1.3%, respective, declines in the third quarter weighed on GDP output as it contracted by 0.2% after two consecutive quarters of growth. Data from Statistics South Africa (StatsSA) yesterday showed that mining production rebounded by 3.9% in October compared to the same month a year ago, buoyed by platinum group metals (PGMs), following a 1.9% decline in September. This mining print surpassed market forecasts of…

If you didn’t get to see The Queen Show by Mzansi Ballet when it was first staged in Fourways Mall during Covid-19, you have another chance to do so at Pieter Toerien’s Montecasino Theatre. Directed by Dirk Badenhorst, a ballet advocate, this production is a timeless tribute to the rock band, in a show the entire family can enjoy. Choreographed by internationally-acclaimed Angela Revie and Michael Revie, this vibrant production cleverly fuses artistic brilliance and the timeless tunes of Queen. Joshua Williams, recipient of a scholarship at the 2016 South African International Ballet Competition in Cape Town, spent four years training at the prestigious Tanz Akademie Zurich in Switzerland. He returns to perform one of the lead roles. Williams is joined by other dancers from Mzansi Ballet, including the star…

Gauteng police commissioner Lieutenant-General Elias Mawela has called on South Africans to stop renting out their back rooms to undocumented illegal foreigners in South African townships. Mawela briefed the community safety committee on crime on some interventions made to curb crime in Diepsloot. He also gave a brief update on the festive season safety campaign during a briefing at the Gauteng Legislature yesterday. This comes a week after seven young men were set alight by members of the community in Diepsloot. There have been reports that crime has increased in the area with most parts of the overcrowded township said to be crime hot spots. Mawela said South Africans need to take responsibility when it comes to leasing their properties to undocumented foreigners as this made their stay in the…

It WAS a celebratory atmosphere at the Chinese embassy in Pretoria yesterday as South Africa and China celebrated their 25-year anniversary of a pact in what both countries described as “common goals”. The two countries in January 1998 established a pact of cordial diplomatic relations that has developed into a “momentous landmark” in the People’s Republic of China-South Africa relations. Yesterday, a wave of activities, including performances by the students of the SA National School of the Arts, were prepared for the invited dignitaries, who included former South Africa president Kgalema Motlanthe, International Relations and Co-operation Minister Dr Naledi Pandor, and ANC secretary-general Fikile Mbalula. Also in attendance were a handful of President Cyril Ramaphosa’s Cabinet ministers. Outstanding during the event activities was when the South African national anthem, Nkosi…

South Africans have faced a grim year, enduring a record-breaking 332 days of load shedding in 2023, signalling a severe escalation in the country’s power supply crisis. The figures, compiled by EskomSePush and The Outlier, show an alarming increase from the 205 days in 2022 and reflect deep-rooted issues within Eskom, the state-owned power utility. Put differently, South Africans had only 13 days this year where there was no load shedding, one day in March, 11 days in October and one day so far in December. This year has also seen a record number of days of Stage 6 load shedding, with 74 days, highlighting an urgent need for effective crisis management and long-term sustainable solutions. The situation worsened significantly as Eskom’s power generation units struggled with frequent breakdowns and…

THE management of the University of South Africa (Unisa) and the two recognised trade unions at the university have signed an unprecedented multi-term collective agreement that settles the matter of all salaries and salary-related increases for the duration of the multi-term agreement. The agreement, the first of its kind at Unisa, was signed during a formal ceremony held at the Unisa Muckleneuk campus in Pretoria, attended by a delegation of Unisa extended management, led by principal and vice-chancellor Professor Puleng LenkaBula and representatives from the two recognised trade unions, the National Education, Health and Allied Workers Union and the Academic and Professional Staff Association. It is a three-year agreement applicable to all permanent and fixed-term contract employees that fall within the bargaining unit, from post grade P5 to post grade…

With South Africa set to continue battling a prolonged energy crisis in the foreseeable future, a solar energy expert has said power outages can render traditional security measures like cameras and alarms ineffective, making homes more susceptible to break-ins, especially when occupants are away this holiday season. Alumo Energy CEO, Rein Snoeck- Henkemans, said South African suburbs are on average reporting a 33.33% rise in residential burglaries, a 100% increase in theft from motor vehicles, and a 40% uptick in various other theft categories, due to load shedding. These numbers are consistent with national averages and projected to increase significantly during the festive holidays, he said. Homeowners should plan their security measures well this holiday season to avoid being part of the crime statistics, he said, and should take advantage…

The Sharks travel to Bloemfontein on Sunday to play the Cheetahs in a European Challenge Cup match and a sub-plot is the home team’s never-ending desire to prove a point to governing body SA Rugby. The Cheetahs and the Southern Kings were infamously kicked out of the PRO 14 competition that became the United Rugby Championship to make way for teams like the Sharks, Stormers, Bulls and Lions because they are not as financially flush as those teams. The harsh boardroom decision initially left the Free Staters with the Currie Cup as the only competition in which to state their case but the oomph was taken out of that because the aforementioned teams fielded B teams. The Cheetahs could only do their best and earlier this year they won the…

ON DECEMBER 5, 2023, the Department of Trade, Industry and Competition (dtic) published the Electric Vehicles White Paper (White Paper), which is South Africa’s first true policy pronouncement on the manufacture, sale and use of electric vehicles (EVs). Although South Africa is late to the party in the creation of such a policy document, the White Paper is a decisive step in the transformation of the South African automotive industry, and it is intended to lay the foundation for the development and implementation of a South African EV market. When we think about EVs, we typically imagine futuristic and sustainable transport that will play a large role in combating climate change. We do not, however, immediately consider the industrial challenges and opportunities that EVs may bring. The South African automotive…

JAKKIE Olivier, the CEO of the Retail Motor Industry Organisation (RMI), is stepping down this month after serving the industry for 30 years and holding the position of CEO for the past decade. Jeanne Esterhuizen, the president of the RMI, said the RMI board would implement an innovative co-CEO leadership structure for a fixed period starting in 2024. “We believe this structure holds the key to ensuring the success and stability of the Retail Motor Industry Organisation,” she said. Effective January 1, Ipeleng Mabusela will take up the role of CEO: Strategy and Corporate Support, and Jan Schoeman will take up the role of CEO: Operations and Regulatory Compliance. The two newly established executive positions will hold equal stature and accountability. The move comes as RMI, representing more than…

NEXT YEAR THE Association for Re- newable Energy Practitioners of South Africa (Arep) plans to redouble its efforts to educate various industry stakeholders on Solar Photovoltaic (PV) good practices. The behind-the-meter non-profit quality assurance organisation aims to promote the adoption of renewable energy throughout Africa by reducing stakeholder and end-user risk and unlocking finance into the sector. Maretia Wiggett, the Operations Director of Arep, said yesterday necessity bred innovation and had seen many innovative businesspersons capi- talising on the opportunity created by the increased levels and regularity of load-shedding. “Unfortunately, the rapid rate of growth also has a darker side in that it has outpaced the development and implementation of standards, has created ample opportunity for fraud, and has given rise to extensive quality control challenges ranging from installation practices…

THE ENX GROUP plans to sell its subsidiary, Eqstra Investment Holdings Proprietary, holding company of enX’s fleet management business, to Nedbank for at least R379 million. The industrial group said yesterday that it and Nedbank had reached an agreement on the divestment of enX’s entire shareholding in Eqstra. enX blends and distributes lubricants, distributes chemicals and provides diesel and renewable power solutions. The deal would be implemented by way of a subscription for shares by Nedbank in Eqstra, which would result in Nedbank holding 50.2% of Eqstra. Eqstra would then repurchase all its shares held by enX for a price equal to the subscription price, so enX would cease to be an Eqstra shareholder, and Nedbank would hold 100% of Eqstra’s share capital. After the transaction, Nedbank would advance…

South Africans woke up to sad news this week of the death of musician Bulelwa Mkutukana, better known by her stage name Zahara. According to reports, Zahara died at a Johannesburg hospital on Monday. She was 35. The Minister of Sport, Arts and Culture, Zizi Kodwa, confirmed the news. “I am very saddened by the passing of @ZaharaSA. My deepest condolences to the Mkutukana family and the South African music industry. “Zahara and her guitar made an incredible and lasting impact in South African music,” he wrote on X. A statement released by her family read: “It is with a heavy heart and the deepest sorrow that we announce the passing of our beloved daughter, sister and friend, Zahara. “Surrounded by family and loved ones, Zahara departed this world on…

One of the five men accused of killing Senzo Meyiwa, Muzikawukhulelwa Sibiya, has been found guilty of possession of drugs and illegal ammunition. Sibiya appeared in the Tembisa Magistrate’s Court yesterday. The drug charge dates back to 2019, when he was found in possession of 10 sachets of drugs in the Vusumuzi section of Tembisa. He was arrested again on May 30, 2020, when police found live ammunition in a plastic bag in his shack in Tembisa. At the time, he told police that the gun was with his friend at Vusumuzi Hostel. Police went with him to the hostel to look for the gun but didn’t find it. An officer testified in the Gauteng High Court, Pretoria, that after an unsuccessful search for the gun, she took the opportunity…

The South African government will be commissioning a nuclear build in the next 10 years in a bid to secure additional energy capacity to the grid on the back of the ongoing electricity deficit and rising demand. This comes as the National Energy Regulator of South Africa (Nersa) has given the government the green light to procure an additional 2 500 megawatts of new generation capacity from nuclear sources to counter the rolling blackouts that have plagued the country. Electricity Minister Kgosientsho Ramokgopa said yesterday that the Department of Mineral Resources and Energy (DMRE) had to satisfy a raft of rigorous Nersa suspensive conditions, which take into account various factors before the go-ahead could be issued. Ramokgopa said the DMRE submitted a report to Nersa addressing suspensive conditions in…

The festive season is here, and people might feel the pressure to splurge on expensive goodies and once-in-a-lifetime deals, according to Wikus Olivier, managing director at CreditSmart Financial Services. Olivier said that it is time people embrace a money-mindful approach by saying no to festive overspending and yes to invaluable experiences so that they can enjoy a worry-free January. Here are five frugal Christmas tips to help ensure yourself a Janu-NO-Worry: Christmas budget Having a budget will give you an idea of your current financial position and help you allocate an amount that you can spend during the festive period. Make sure that the money that you allocate includes money that you can spend on gifts, celebrations, travel expenses, etc. “Keep track of your spending and make use of an…

In THE traditional whisky-drinking world, Monkey Shoulder stands out. Voted the “No 1 trending, and best-selling whisky” by The World’s 50 Best Bars in 2019, it’s clear that this is not your average whisky. Monkey Shoulder is an attitude, an experience, a dare to go against the norm. Monkey Shoulder is about doing things differently and not being afraid to colour outside the lines. What’s to the name? The name “Monkey Shoulder” dates back to whisky-making forefathers, a respectful nod to the men-of-malt who tirelessly turned the barley by hand. They worked with such dedication that they often developed a temporary condition known as “monkey shoulder”. What’s in every drop? What makes Monkey Shoulder a go-to whisky for the modern connoisseur? It’s a blend of three single malts, combined for…

India 180/7 Singh 68*, Yadav 56; Coetzee 3/32, Shamsi 1/18 South Africa 154/5 Hendricks 49, Markram 30; Kumar 2/34 South Africa win by five wickets chasing 152 on DLS Method BEFORE the series started, South Africa had just six T20 Internationals left before the start of the T20 World Cup next year, thus making every remaining game a crucial build-up to the showpiece event. With the first T20I rained-out in Durban last week, coach Rob Walter and his team desperately needed time on the park in the second T20I in Gqeberha. Due to rain, only 34.3 overs were bowled at St George’s Park and for the most part of those overs, South Africa were behind the eight ball as the Indian team managed to stay ahead of…

The last time the Bulls visited Stade Gerland to take on Lyon, it turned into a nightmare outing in early January this year. They didn’t have director of rugby Jake White with them as he had undergone surgery, they had finished 2022 with three consecutive defeats, and they were facing a Lyon side looking for revenge after losing at Loftus Versfeld a few weeks earlier. The Bulls had hoped they had turned the corner at the start of this year with wins over the Dragons in Wales and Exeter Chiefs in Pretoria, but they came unstuck, losing 31-7 against Lyon in eastern France. Despite fielding their strongest possible team that included the likes of Kurt-Lee Arendse, Canan Moodie, Johan Goosen, Marco van Staden and veteran Bismarck du Plessis, their handling…

Australia will look to cap a brilliant year with a golden home summer by beating Pakistan in a three-match Test series starting in Perth tomorrow as David Warner looks to bow out of the longest format on a triumphant note. Having won the World Test Championship, retained the Ashes and earned a record-extending sixth World Cup title, Pat Cummins’ side have the chance to celebrate with home fans against a team they have whitewashed in their last five home series. Australia head coach Andrew McDonald said the hosts would field their strongest side, which means a welcome return for spinner Nathan Lyon, who will chase his 500th Test wicket after injury ruled him out of the last three matches of the Ashes. Warner, however, may be the biggest headline of…