Inhoudsopgave van 2024-03-11 - Star

FIRSTRAND has thrown Pick n Pay a lifeline, with the South Africa debt laden grocer renegotiating terms for loans it carries on its books ahead of a stated Boxer spin-off and separate initial public offering (IPO). Boxer has been Pick n Pay’s star performer as South African consumers opt for value propositions and analysts say the Boxer IPO is likely to be oversubscribed. However, it is Pick n Pay’s debts that have heightened the company’s challenges at a time rival operator, Shoprite is accumulating more market share. “It’s a much-needed reprieve and a lifeline that means the retailer is able to sort out its mess in due course and also frees up some breathing space for the IPO,” said a manager with a retail…

DR SIBONGILE Vilakazi, the suspended president of the Black Management Forum (BMF), last week filed a Notice of Motion in the High Court Gauteng Division to declare ten of the organi- sation’s investment arm “delinquent directors” as contemplated in the Companies Act. The legal action comes only two months after the board of the BMF in January suspended Vilakazi, amid Wits Business School (WBS) moonlighting allegations that rose in 2023. The BMF said at the time the suspension was in place until her name was cleared to protect the organisation’s integrity and reputation. Vilakazi alleged that there was corporate jostling for control of the BMF’s Investment arm (BMFi), which offers lucrative board sitting allowances and a front seat to steering fresh deals. The BMF, which is a non-profit organisation, owns…

Dr Simphiwe Ngqangweni and Matsobane Mpyana THE AGRICULTURE and Agro-processing Master Plan (AAMP) stands as a pivotal framework for driving inclusive growth, investments and sustainable jobs in South Africa’s agricultural sector. Since it was signed on May 12, 2022, progress made in its implementation is generally under-appreciated. In reality, some of its agreed measures were put in place already at the onset of the sixth democratic administration in 2019, and began bearing fruit soon after. For example, the review and reform of the value chain round tables was undertaken to sharpen the focus and prioritisation of market access issues for the fruits and meat industries. A special focus on sugar and poultry started in 2019, intending to stabilise and safeguard them against the surge of cheap imports and other local…

SOUTH Africans have correctly become exasperated by the challenges affecting the country’s State-owned enterprises (SOEs), frustrated by the impact on their lives and inability to be turned around. Yet we should not in the midst of our daily irritations, forget the strategic role that SOEs once played in growing the economy, creating jobs, developing cutting-edge technology and spurring their respective sectors. The backbone of South Africa’s industrialisation and transformation into the continent’s economic giant was not only built upon the mining industry, but also the critical enabling roles played by Eskom and Transnet, bringing electricity to various economic sectors and communities and rolling out a massive railway network connecting rural farms to our cities and ports. Needless to say that South Africa’s economic development ignored (to put it mildly)…

THE TRAGEDY unfolding at Arcelor- Mittal South Africa (Amsa) is an outcome of too much policy and not enough market in the steel value chain. Last week in Business Report, Kobus Verster, the CEO of Amsa, in his opinion “SA steel industry needs level playing field,” noted four areas presenting the biggest risks to primary steel production: Steel dumping Amsa recently had anti-dumping duties implemented on galvanised steel coils from China. I have no doubt that more anti-dumping applications will follow. However, there are two rather serious problems not being considered. The first is the 2006 Record of Understanding (ROU) between South Africa and China, which notes that “China will be treated as a market economy for purposes of these (anti- dumping) investigations”. This has implications for how anti-dumping duties…

Popular game show, Deal or No Deal SA, is about to make things interesting. It is adding a spin-off celebrity edition that will see fans tuning in for an extra dose of money-winning action. Hosted by the multi-award-winning TV personality Katlego Maboe, pictured, the show airs on SABC2 on weekdays at 6.30pm. The spin-off, Deal or No Deal Celebrity, is now airing on Saturdays on SABC1. South African A-listers go up against the banker for cash that will go to charity. In a statement from the channel, celebrities making their way onto the show include famous actors, television and radio presenters, socialites, comedians, sports stars, social media influencers and other movers and shakers. The premise of the game remains the same, with players being able to win anything between R1…

THE ANC has slammed the DA for its letter to the US Secretary of State and other foreign affairs ministers in Europe to ask for help in ensuring no foreign interference in South Africa’s election. In their letter to Antony Blinken through US Ambassador to SA, Reuben Brigerty, dated March 7, 2024, DA MP Emma Powell indicates that the party is uncomfortable with the ANC elite as it is likely to grow more desperate and attempt to rig the May 29 elections. Last year, Brigerty came under fire in South Africa when he claimed that the country had supplied weapons to Russia in spite of its professed neutrality in the war with Ukraine. The DA indicated it wanted the US to help monitor the country’s upcoming elections to prevent the…

BUILDING a brand takes effort and time but destroying it can take 140 characters or an image that took mere seconds to snap and share on social media. This could be a career-ending move, and people, especially younger generations, ought to be careful about these “exciting” moments. This article is prompted by the interview that soccer sensation Andile Jali had at 947 with Robert Marawa on “Marawa Sports Worldwide”. He conceded that the talks of joining Kaizer Chiefs collapsed because Amakhosi wanted to regulate or control what he posts on his social media pages. I would like to believe that this was not the deal-breaker, as Jali claims. However, this has opened the debate about whether the employer should have the powers to determine what an individual posts on their…

A cancer survivor and nurse who was diagnosed with epilepsy in adulthood said knowledge is power when it comes to this relatively common neurological condition. ER Consulting Inc, which manages the emergency department at Netcare Olivedale Hospital, recently shone the spotlight on epilepsy awareness to coincide with the recent Epilepsy Week. Registered nurse Tamara Moyo shared her personal story of learning to live with epilepsy after being diagnosed in 2022. This was to encourage and inform others about this neurological condition, which affects one in every 100 people in South Africa, representing approximately half a million South Africans. “I survived cancer in 2021, and in August 2022, I moved to Johannesburg to start my new job at Netcare Olivedale Hospital. On November 19, I had my first seizure,” Moyo recalled.…

Easter is a season of fun, togetherness, and giving. In true Cadbury style, Mzansi’s most generous chocolate is once again encouraging you to embrace the magical tradition of hiding your favourite Easter treats with love. The Cadbury Easter range is chocful of fun for the whole family (and all the choc-enthusiasts too)! Spoil loved ones with Cadbury’s wide range of delicious treats to make your Easter celebrations eggstra special. Featured is the new Cadbury Dairy Milk Hot Cross Bun slab, with chunks of crunchy cinnamon and raisins and the popular favourite Cadbury Dairy Milk Top Deck Bunnies slab and the decadent new Cadbury Caramel Eggs. Immerse yourself in an egg-citing Easter adventure when you join the Cadbury Hide Them With Love Mzansi virtual experience. Celebrate the spirit of generosity by…

THABO Bester and Dr Nandipha Magudumana are pulling out all the stops to stop the documentary Tracking Thabo Bester from airing on live streaming platform Showmax. The larger-than-life story of South Africa’s most famous prison break is scheduled to air on March 15 and 22. The pair have instructed their legal team to institute urgent actions to halt the broadcast. Legal letters have been issued to the relevant parties. Showmax released the trailer for the four-part series last week. It depicts how celebrity doctor Dr Magudumana, fell for a convicted criminal and left her children behind to go on the run with him to Tanzania. Showmax claims to have taken all necessary measures to ensure that the documentary complies with the standards of ethical reporting and journalistic integrity, despite…

As Europeans annually commemorate the anniversary of D-Day on June 6, 1944, a moment etched in history when Allied troops stormed the beaches of Normandy to liberate Europe from Nazi control, parallels emerge between the epic military operation and our upcoming elections on May 29. D-Day was a monumental turning point that reshaped the trajectory of world events, its significance reverberating through the annals of time. It comes as no surprise that film-makers have endeavoured to capture the valour and drama of that moment on screen. Similarly, the looming date of May 29 this year holds profound significance for South Africa as we stand on the brink of our own D-Day – a decisive juncture where we must emancipate our nation from the grip of corrupt and incompetent leadership. Much…

Following a breathtaking Soweto derby that lived up to all the pre-match billing with drama, quality and an avalanche of goals, next comes arguably the more intriguing rivalry in recent history. SuperSport United and Mamelodi Sundowns will renew their distaste for each other in yet another instalment of the Tshwane derby on Tuesday night in the DStv Premiership and although lacking deserved hype, meetings between these two teams have been memorable. The two clubs will head into this fixture in contrasting form, however, as SuperSport dropped two points against AmaZulu, denying them their first win in the six matches they’ve played this year. Matsatsantsa a Pitori coach Gavin Hunt just has not been able to inspire his players in the new year, following a fairly decent opening stanza in 2023.…

R124.8 bn deal will create one of the world’s largest makers of packaging IN ONE OF the biggest multinational corporate deals this year, packaging and paper group Mondi said on Friday that it plans a mega-merger with UK-listed DS Smith for £5.1 billion (R124.8bn), in a deal to create one of the world’s largest makers of packaging. The proposed all-share deal, the full terms of which still have to be finalised, aims to create “a pan-European industry leader … with complementary geographic footprints … a strong balance sheet and cash flow, and the potential to deliver substantial benefits to shareholders, customers, employees and stakeholders,” Mondi’s board said in a JSE regulatory notice. DS Smith’s share price soared 5.2% in London on Friday to 341.99 pence. For its shareholders,…

IN THE AGRICULTURAL heartlands of South Africa, the symbiosis between land and livelihood is profound. Farmers, the custodians of the soil, are tasked not only with cultivation, but also with the economic and financial responsibility of ensuring that their investments reflect the land’s productive value. An appropriate evaluation of a farm’s productive value against its price is not just important; it is imperative for the sustainability of agricultural enterprises. Farmers must perform due diligence to ensure that the land’s value is congruent with its ability to yield returns. A disconnect between land prices and productivity can contribute to financial strain, underutilisation of resources, and in extreme cases, forfeiture of the land itself. A tool like Geographical Information Systems (GIS) that enables the user to visualise, question, analyse, and interpret data…

COUNTRY Bird Holdings (CBH) on Friday made more share purchases in Quantum Foods after buying out Astral Foods’ 9.77% stake in the JSE-listed stockfeeds and poul- try company. Shares in Quantum Foods on the JSE soared 72.93% on Thursday after Astral Foods disposed of its stake to CBH, in a move seen as shaking up the poultry industry. The move also sparked a battle for the control of Quantum Foods, analysts said, saying there was only about 5% to 6% free float left in the company’s stock. On Friday, Quantum Foods said it had “received a notification from CBH” in terms of the Companies Act, which indicated that “CBH has made further acquisitions of shares” in the company in addition to last week’s transaction. Furthermore, since the disposal of Astral…

ANGLOGOLD Ashanti chairperson Maria Ramos plans to retire from the board, the mining group announced on Friday. “She has exemplified the highest levels of ethics, governance and strategic guidance, while being a great support to me in my role. We wish her the very best and every success in her new endeavours,” AngloGold Ashanti CEO Alberto Calderon said in a statement. Ramos, independent non-executive director, chairperson, well-known South African businesswoman, banker and corporate executive, elected not to stand for re-election at the annual general meeting on May 28. Ramos has been a director of AngloGold Ashanti since June 1, 2019, and chairperson since December 5, 2020. Jochen Tilk was appointed by the board as the new chairperson, with effect from May 28, subject to his re-election at the annual…

OLD Mutual South Africa has come under fire on social media for allegedly short-changing the payments of customers’ policies and forcing employees to pay for missing client instalments. As of last week, social media has been abuzz with numerous posts from dissatisfied customers and former employees who spoke of the poor treatment they had received from the insurance company. X user @ceekaylab, who claimed to have been a former employee of the company, alleged she was left with a bill of R160 000 from the company she has been paying for the past four years. “All @OldMutualSA financial advisors get fined all the commission they made when they leave the company. I am sitting with a bill of R160 000 that I have been paying for the past four years.…

Several people have been rushed to hospital following a three-bus pile-up in KwaZulu-Natal yesterday morning. It is believed the buses were travelling in convoy to the Moses Mabhida Stadium where the Inkatha Freedom Party (IFP) was hosting its election manifesto. Samantha Meyrick of IPSS Medical Rescue said they were alerted to the scene on the N2 near Bridge 14, near Gingindlovu before 9am. “When emergency teams arrived, it was established that three buses had collided. “Firefighters worked to extricate the injured while paramedics administered treatment,” she said. Meyrick said eight people suffered serious injuries, and one person was critically injured. “All the injured were stabilised at the scene before they were rushed to nearby medical facilities. “There are multiple emergency teams at the scene. The Emergency Medical Rescue Service (EMRS)…

In her quest for “fair skin”, an Ivorian YouTuber recently visited a market stall in Abidjan to receive several injections promoted as containing whitening agents. The influencer, who asked to remain anonymous, waited 10 days in vain to see any results. “Clearly, I’ve been ripped off,” she told AFP. The young woman is one of a growing number across West Africa who seek to reduce the melanin in their skin because being fair is associated with higher status, privilege and beauty. The global market value for bleaching treatments is projected to jump from an estimated $10 billion (R1.87 trillion) in 2021 to $16bn in 2030. Dozens of Facebook pages in Cameroon, Ivory Coast, Niger and Senegal promise “uniform whitening” through various creams or injections. It is a gateway to a…

Celebrated dance teacher Nomsa Manaka has come full circle, in almost all areas of her life, thanks to her craft. She is back at Funda Centre in Diepkloof, Soweto, where it all started in 1984. Her “second coming” was spurred by the vandalisation and stripping bare of her studio at the Walter Sisulu Square of Dedication. This loss is best captured in the words of her granddaughter, who was 12 when the studio was laid to ruin in the July 2021 unrest: “Our happy place is gone.” Manaka herself says: “It has disrupted my life, basically.” When she tells the story of how she got to be at the Walter Sisulu Square, you’d be convinced it was fate, just the stars aligning. Two people she approached virtually said the same…

Russia took the rotating presidency of BRICS this year. The following is an interview with Yury Ushakov, Russian presidential foreign policy aide, in which he previewed Moscow’s priorities, prospects for BRICS development and expansion, and commented on the West’s attempts to impede the group’s activities. While speaking about the priorities of Russia’s BRICS presidency, Vladimir Putin mentioned the development of economic partnership, co-operation in science and innovation, security and counter-terrorism, culture and sports. How do you prioritise these guidelines? Which aspect of BRICS activities is of particular value to us: political, economic or civilisational? First of all, I would like to say that co-operation within BRICS is undoubtedly one of the key features of Russia’s long-term foreign policy. Interaction with the association’s members meets the fundamental national interests of our…

The Lions will have another week to contemplate their squad ahead of a testing European tour. The Joburgers are planning to depart for United Rugby Championship clashes against Connacht and Cardiff next week Tuesday, with an EPCR Challenge Cup round of 16 clash against Benetton following that. Depending on the result of the latter, they could also find themselves in a quarter-final clash thereafter, before returning to South Africa for clashes against Leinster and Munster. It is an intimidating block that requires precise planning in player management. Last week, coach Ivan van Rooyen and his assistants watched a Lions team of fringe players put the Baby Boks to the sword in a training match, and will have another opportunity in training and a practice match this week. The result, although…

AN ECOSYSTEM approach to industry is a game changer for women-led businesses, according to Namhla Mniki- Mangaliso, co-chairperson of the Women Economic Assembly, Private Office of the President. She was speaking at the 8th Gender Equality, Wellness, and Leadership Sum- mit, in recognition of International Women’s Day, held on Friday. The sum- mit was held alongside the annual Open- ing Bell for Gender Equality at the JSE with a panel discussion on “Building Inclusive and Sustainable Economies”. Dr Precious Moloi-Motsepe, the co-founder and CEO of the Motsepe Foundation, said: “Today, although we are celebrating International Women’s Day, we are pointing to the crisis of a lack of women, particularly in stock exchanges.” She emphasised the im- portance of actively transforming eco- nomies, saying: “While women have made strides in education,…

POULTRY products, that is meat and eggs, are an essential source of afford-able and nutritious animal protein for the majority of South Africans, in particular the low- and middle-income households. South Africa is currently a net importer of poultry meat, implying the country does not produce sufficient volumes to satisfy local consumption. Imports account for roughly 20% of domestic consumption, and imports have been gradually declining in recent years, underpinned by effective safeguards measures. These measures include anti-dumping duties imposed against certain countries that distort the domestic market. The decline in imports can also be attributed to local investment fuelled by the implementation of the Poultry Master Plan. While protecting domestic producers against trade distortion practices is crucial for the sustainability of the poultry industry, safeguarding the competitiveness and efficiencies…

WHILE others say control is good, but trust is better, some argue that trust is good, but control is better. Such statements arise in the life of nations when challenges of tragic proportions confront them. The statement that trust is good, but control is better is attributed to Russia’s Vladimir Lenin. His refrain in 1920/21 was about the deteriorating status of the Bolsheviks, and to this he attributed three chief enemies, and these were central to the political education challenge. These were firstly, Communist Conceit, secondly, illiteracy and, thirdly bribery. Of relevance in this contribution is the last challenge of bribery, to which Lenin said: “If such a thing as bribery is possible; it is no use talking about politics. “Here we have not even an approach to politics; here…

FORTRESS Real Estate Investments saw a robust performance in its directly owned portfolio in South Africa and an “outstanding” performance of associate Nepi Rockcastle, in the six months to December 31. A first-half dividend of 81.44 cents per share was declared. Distributable earnings increased 19% to R952.87 million. In South Africa, the group owns some 235 buildings that focus on the logistics and convenience and commuter-based retail sectors, in a portfolio valued at R32.6 billion. During the first half, shareholders approved the simplification of the capital structure through the repurchase of all the Fortress B (FFB) shares, which left a single class of share in issue. The share price traded 0.6% lower at R16.39 on Friday, a price well up on the R4.51 it traded at on…

Maintaining friendships during adulthood comes with its own challenges. From family commitments to the demands of work and school as well as the struggles of daily life, there is usually very little time and energy left to spend with friends. But the hit Showmax series, Adulting, proves that solid friendships can get you through some of the toughest times of your life. With friends, you can share your deepest fears, secrets and insecurities that not even your family are aware of. In season two of the 13-part drama series, which ends this month, it proves once again that sometimes it is only your friends who know you best. Adulting, produced by Tshedza Pictures, stars the ever-popular Thembinkosi Mthembu as Bonga, Nhlanhla Kunene as Eric, Luthando BU Mthembu as Vuyani and…

FORMER Botswana president Ian Seretse Khama has been accused by Botswana government officials of working with UK lawmakers to enact a UK ban on trophy hunting imports in the UK. Early this year, the UK government announced the Hunting Trophies (Import Prohibition) Bill, a private member’s bill introduced by Henry Smith MP, which seeks to put a ban on the import of hunting trophies from species of conservation concern. During a media briefing held at Cresta Hotel in Gabarone this weekend, recently appointed Botswana Minister of Environment and Tourism Dumezweni Mthimkhulu told journalists that Khama’s anti-hunting campaigns in the UK and Europe were the reason for the proposed ban on trophy hunting as promoted by a lobby group called All Party Parliament Group. “This trophy ban, we have heard that…

Soweto is one of the most active real estate markets in the country. It is a thriving community with about 186 000 homes, which have been more than doubling since 1994, according to statistics provided by Lightstone. Property values in the area have increased faster than the rest of Johannesburg, nearly tripling over the past 10 years. Khosi Sibiya and Phindi Mphahlele, Seeff Soweto licensees, say there is a huge demand for property in Mzansi’s biggest township. Some are buying to occupy, while others are exploring the housing rental market. More than 2 000 property sales totalling more than R1.1 billion have been sold in the past year, said Lightstone, with more than 40% of purchasers made by people under the age of 35, most of them first-time buyers. Soweto…

TUKS swimmer Andrew Ross, 22, has set himself the goal of trying to raise the South African flag higher than other male swimmers before him had been able to do. Ross is 2m tall, an ideal height for a swimmer, and wears a size 14 shoe. “I guess it can be an advantage if you know how to make the most of it," he said. Ross is part of Team South Africa at the ongoing Africa Games in Ghana. “For me, African Games event is like the Olympics, but for only African countries. So, being selected is a huge privilege and honour,” he said. “Representing Team SA is always an honour; it has always been a dream of mine to represent our country at the African Games, and being part…

After revealing a star-studded line-up of celebrity contestants, Tropika Island of Treasure has called on all adventurers to enter the fray to win the R1 million prize and the coveted title for Season 11. From incredible dance moves to hilarious challenges and heart-stopping stunts, everyone is competing for the opportunity to partner up with one of the celebrity contestants. This season, the stakes are even higher; each contestant who makes it to the island will receive R10 000. It is revealed that if one is interested, they need to showcase their talent and upload their video using #Tropika, tagging @MyTropika on TikTok, Facebook, Twitter, or Instagram. Auditions are open and close at midnight on May 5. The list of stars include radio and media personality Zanele Potelwa, who was…

Minister Nosiviwe Mapisa-Nqakula, another cunning fox holding high office, has shamed her oath of office. She had allegedly demanded and accepted sizeable cash payouts in return for “favours”, from her important office. The whistle-blower has not held back, fingering and exposing this shameless pseudo politician. Cash in bags (and who knows what other bribes?) were made to quench the gluttony of the historically disadvantaged individual. She and her ilk have proved that morality does not exist within her political circle. Shameless and devoid of conscience, they continue to plunder the country. |…

Amid the much-awaited State of the Nation Address (Sona), South Africans were presented with what could be described as the ANC Election Manifesto and Defence Mode. Considering that the ANC is facing an imminent collapse, President Cyril Ramaphosa presented the Sona that seeks to save his limping party rather than providing a clear concrete plan to address the country’s triple challenges such as poverty, inequality, and unemployment. Through the story of Tintswalo, the president presented the welfare programmes which have benefited SA through basic services ranging from houses, electricity, water, social grants, feeding schemes, and the National Student Financial Aid Scheme. The foregoing developments are indisputable transformation paths that the post-apartheid government has embarked on to change the lives of many previously disadvantaged black people. However, the realities on the…