Inhoudsopgave van 2024-04-10 - Star

SOUTH Africa’s government and the European Union (EU) delegation to the country emphasised the strength of their relationship and said they were working on holding a bilateral summit. Plans to hold the gathering last year were thwarted because South Africa had reportedly not committed to a date. An EU spokesperson in Europe said in a reply to queries that it “unfortunately” hadn’t been possible to hold the summit last year. “South Africa and the European Union have maintained a regular exchange throughout 2023 in order to prepare their bilateral summit,” the government and EU delegation said yesterday, rejecting the claim that Pretoria hadn’t suggested or set a date. People familiar with the situation, who asked not to be identified because they weren’t authorised to discuss the topic publicly, said the…

SOUTH Africa’s fossil fuel subsidies tripled between 2018 and 2023, to hit R118 billion, up from R39bn five years earlier, according to the Blackouts and Backsliding: Energy Subsidies in South Africa 2023 report. The report was released by the International Institute for Sustainable Development (IISD), an independent think tank working to accelerate solutions for a stable climate, sustainable resource management, and fair economies. The increase was said to be largely driven by the global energy crisis, with consumer subsidies rising to reflect higher prices for oil, gas, and coal following Russia’s invasion of Ukraine. “The increases came as global fossil fuel subsidies hit a record high of $1.5 trillion (R28trln) in 2022, with governments around the world scrambling to respond to the energy crisis. The largest share of…

STANDARD Bank is weighing up opportunities in North Africa and has revealed that it has applied for a banking licence in Egypt in a bid to seize up possibilities of growing its market share from rising intra-African trade. South African banks have been entrenching their presence across Sub-Saharan Africa, but have largely not significantly forayed into North Africa. For Standard Bank, operations in the rest of Africa, excluding SA, raised earnings by 49% in the year to December, helping to drive overall group headline earnings for the period by 27% to R43 billion. Africa’s largest lender by assets told Business Report by email yesterday that expansion into North Africa was now a top priority. This comes as the South African market is struggling against infrastructure inefficiencies and growing credit…

Parliament’s Portfolio Committee on Public Enterprises has insisted in its report to the Speaker that there was sleight of hand in the department’s handling of the 51% takeover of SAA by the Takatso Consortium as the transaction was fraught with red flags. In a report released yesterday, the committee said it was concerned by the overall lack of transparency, inadequate documentary evidence, an unknown and ambiguous new evaluation of SAA, and no formal report on the terms and conditions of the termination of the defunct deal. Last month, the Department of Public Enterprises (DPE) terminated the sale of SAA to Takatso after new valuations from reputable professional firms following three years of negotiations. The business valuation came out at R1 billion and the property valuation at R5.5bn, meaning there was…

RESCUERS from the Tshwane Emergency Services Department evacuated a woman from a vehicle stuck in flood water at the corner of Rabie and End streets in Centurion in heavy rain. Emergency Services spokesperson Charles Mabaso said while the woman escaped unharmed, the vehicle remained trapped in the floodwater. He called on people to keep away from the area and not drive through the flood water route. Authorities were forced to close Soutpan road in Soshanguve due to flooding and urged motorists to use alternative roads. And people were reported to be stuck in flooded shacks in the township, while Embankment and John Vorster roads in Centurion were closed for traffic. Mabaso said the emergency services attended to an incident in Refilwe township where a house was reported to be…

Bryanston is at the top of South Africa’s list of the top 5 suburbs in terms of both sales and total purchase price, despite Gauteng’s poor performance in terms of property growth inflation, which is currently less than 1%. Lightstone data reveals that Bryanston was the top-selling suburb in the country last year in terms of sales volume and total purchase price achieved, with Sea Point in the Western Cape in second and Midstream Estate in Gauteng in third place. The CEO of Johannesburg and Randburg’s Lew Geffen Sotheby’s International Realty, Cobus Odendaal, explains the progression of the sales since January. “Our year-to-date sales in Bryanston recorded in February were up by an average of 5%, notably higher than the year-on-year national property inflation of 2.41% in January and way…

IN WHAT is shaping up to be one of the best line-ups in a history of outstanding programmes, the Cape Town International Jazz Festival (CTIJF) is pulling out all the stops to ensure that its comeback on May 3 and 4 is one to be enjoyed and remembered. True to its roots of providing the performance space for a mix of established and bright new talent, this year’s festival will showcase African music royalty alongside their international counterparts. Appearing on the bill for the 2024 CTIJF and joining the already announced artists, are the vocal tones of Tunde Baiyewu of Lighthouse Family (UK); alternative R&B group Moonchild (USA); Grammy-winning bassist virtuoso and experimental musician, singer, and songwriter MonoNeon (USA); and Francesca Biancoli’s (Italy/SA) contemporary melding of jazz and neo-soul. Award-winning…

As the Bulls got ready for a nightmare journey to Northampton yesterday, there was at least one positive ahead of Saturday’s Champions Cup quarter-final at Franklin’s Gardens (9pm kick-off, SA time). The Bulls were able to train in wet weather yesterday morning as the rain fell in Pretoria. That may be a portent of things to come, because while there is no rain currently forecast for Northampton on Saturday, it is sure to be wet and windy. That could change the whole dynamic of the Bulls’ approach to the game, and possibly selection. They scored some terrific touchdowns in their nine-try 59-19 demolition of Lyon at a dry Loftus last weekend, where the conditions were ideal for them to throw the ball around and chance their arm against an outclassed…

Episode 3 of the Chasing The Sun 2 – which looks back at the Springboks’ 2023 Rugby World Cup triumph – will be remembered by many for the big reality check that Rassie Erasmus gave some of his star players. Last Sunday’s episode on M-Net and SuperSportfocused on the Bok boss laying down the law to the players after the 13-8 defeat to Ireland in the pool stages. The F-bombs flowed as Erasmus showed his players where they had gone wrong against Ireland, and then he mentioned only a handful of players who should get ready for the quarter-finals. That didn’t include captain Siya Kolisi and Eben Etzebeth, who both expressed their shock as they realised they needed to prove themselves against Tonga. There was also the brewing friction between…

GOLD AND PLATINUM mining share prices saw another day of strong gains on the JSE yesterday, bolstered by their perceived safe haven status in an uncertain geopolitical global environment, and US and Chinese economies that continue to surprise on the upside. Yesterday at midday Impala Platinum Holdings shares were 4.9% higher on the JSE, precious metals miner Sibanye-Stillwater shares were up 4.9%, Anglo American Platinum’s shares were up 3.7%, Northam Platinum Holdings shares were up 3.9% while African Rainbow Minerals shares were up 4.6%. The increases followed substantial increases in the prices of their underlying commodities since the start of the year. For instance, the price of gold rose 16.1% to $2 339.24 (R43 846) per ounce yesterday from $2 013.43 per ounce on December 2, 2023.…

OFFICE landlords, battered by a global crash, have been clinging to the hope that new buildings with strong green credentials will still demand top rents and prices. Dublin is emerging as a cautionary tale that such optimism may not hold up. In the city’s North Docks district, new buildings are falling into bankruptcy protection after US tech firms scaled back the amount of new space they leased and borrowing costs rose. Values are already down 40% to 50% from their peak, according to investors and brokers, who expect price declines and strains in financing to continue in coming months. The slump is playing out in an area best known a decade ago for the unfinished shell of a new headquarters block for Anglo Irish Bank after its demise helped tank…

WITH ALL ITS technological limitations solar home solutions can play a pivotal role in reducing the level of carbon emissions in the environment. But picture a scenario where South Africa by 2050 had achieved total transition away from fossil emissions towards green renewable energy. It sounds like a dream come true or is it? Because a reduction in emissions means that all industries, especially heavy electricity industries will cease to exist and primarily due to their reliance on the use of fossil fuels to power their industrialisation. Ending the use of fossil fuels to achieve net zero by 2060 would signal a major catastrophic economic collapse. Stopping industrialisation on the account of preserving the environment would cripple the economy and most livelihoods related to the industrial age of carbon emissions.…

A DISPUTE between AVI Limited and its former empowerment partner, Main Street 198, led by entrepreneur and former anti-apartheid activist Mkhuseli “Khusta” Jack and comprising beneficiaries that include orphans and widows, has landed at the B-BBEE Commission. The dispute revolves around an empowerment shareholding in one of the country’s leading fishing companies, Irvin & Johnson (I&J), a subsidiary of AVI. At issue is the manner in which AVI disposed of a R1.2 billion equity partnership between I&J and Main Street. Jack, who is chairperson of Main Street, claimed to the commission that AVI had undermined the broad spirit of goodwill that underpins the government’s BEE policy. “We have escalated our case to the commission, because we believe there are many cases of companies who think BEE is merely a…

The JSE All Share index rose about 0.2% to close at 75 487 points yesterday, its highest since early January and extending gains for the second session. Resource-linked stocks and financials were among the top performers, while tech companies, retailers and industrial posted the biggest losses, Trading Economics said. Meanwhile, the rand at 6.37pm strengthened against the dollar to R18.48, about 0.82% stronger than its previous close. Bianca Botes, a director at Citadel Global, said the market dynamic remained largely unchanged, with hesitation persisting ahead of key US inflation data and the FOMC minutes, both of which would be released tomorrow. Botes said oil prices also remained elevated as Middle East ceasefire hopes waned. “Elevated oil prices are underscoring inflation concerns,” she said. “Meanwhile, slightly better Chinese data, as seen…

Former KPMG bursary specialist, Fidelis Moema, will remain in police custody after the court postponed his matter to next week for a formal bail application. Moema made his second appearance in the Palm Ridge Commercial Crime Court yesterday. He is accused of swindling his former employer to the tune of R16.5 million. He is facing charges of theft, fraud and money laundering. Spokesperson for the Directorate for Priority Crime Investigation, also known as the Hawks, Warrant Officer Thatohatsi Mavimbela, confirmed to IOL News that Moema’s case has been postponed to next week Thursday for a formal bail application. The 32-year-old former bursary specialist at KPMG, was arrested after he handed himself over to the Hawks’ Serious Commercial Crimes Investigation team in Johannesburg. KPMG said last week it had fired Moema…

The official opening of the ward committee operations centre in the City of Tshwane yesterday heralded a new chapter for the municipality to reintroduce ward committees that have been inactive for 10 years. In 2014 the Gauteng High Court, Pretoria nullified Tshwane ward committee elections that took place in 2012 after a court challenge by the DA questioning the constitutionality of the elections on the grounds that they excluded the participation of public members. The City’s process for correcting the unconstitutionality of the by-law was delayed on several occasions. Yesterday, the speaker of council, Mncedi Ndzwanana, and Section 79 chairperson for the electoral committee Dana Wannenburg officially launched the commencement of the nomination phase of ward committees at Tshwane House. The event coincided with the opening of the ward committee…

Given that influenza season is coming up, this year’s flu vaccine is now available in South Africa. There are several types of flu caused by distinct viral strains, and the influenza virus mutates every year. Each year, a new vaccination is produced and released in order to keep people safe. This is according to the family physician and medical director of Netcare’s Primary Care division, Dr Cathelijn Zeijlemaker. Every year, between three and four million people worldwide become very ill with influenza, resulting in hundreds of thousands of deaths. The World Health Organization (WHO) and the Department of Health’s National Institute of Communicable Diseases (NICD) agree that vaccination is the most effective strategy to prevent influenza. Those with chronic illnesses, the elderly, pregnant women, and young children are most vulnerable.…

Nthabeleng Modiko’s coaching career might still be in its infancy, but she knows that keeping herself and her troops grounded is what will aid success. Modiko’s University of Johannesburg ladies’ team have had a fantastic start to the Hollywoodbets Super League. After three wins, one draw and one loss in six games, UJ are second on the log with 12 points, behind record four-time champions Mamelodi Sundowns only on goal difference. So, for a team that could only labour to a ninth-place finish last season – in what was Modiko’s first campaign in charge – they deserve praise. But the 38-year-old coach is not getting carried away by her team’s bright start, instead sharing a special recipe that will help them to prevail. “That’s what we have been saying in…

Zero Carbon Charge yesterday launched its new subsidiary Zero Carbon Logistics, which will roll out 120 solar PV electric truck charging sites on national highways across South Africa – the first off-grid, 100% green electric truck charging network in the country. Joubert Roux, the co-founder of Zero Carbon Charge, said the shift to electric trucks offered a major opportunity for South Africa to meet its Green Transport Strategy goal of reducing transport-related CO2 emissions by 5% by 2050. “Every day, 8 756 trucks travel on the N3 between Durban and Johannesburg, using over 658 million litres of fuel at an import cost of R8 billion, emitting 1 781 256 762kg of CO2 emissions per year. Replacing these fuel-powered trucks with electric models will save…

THE 2024 GENEVA watch fair opened yesterday amid slower demand in China for fancy Swiss timepieces and more timid consumer spending across the board on luxury items. The Watches and Wonders salon, which runs until April 15, will see 54 watch brands show off their latest creations, including Rolex, Patek Philippe, Cartier, Chopard, Hermes and Chanel. Formerly reserved for industry players, Swiss watchmaking’s landmark event is trying to seduce a new generation of buyers by opening to the public for three days. During previous open days, visitors were aged 35 on average, “which is extremely encouraging”, said Matthieu Humair, the CEO of the foundation that runs the salon. Last year, Swiss watch exports broke records for the third consecutive year, hitting 26.7 billion Swiss francs (R552bn). The 2020 downturn…

AS WE MARK our 30 years of freedom as a nation, we need to reclaim our inalienable right to a clean and safe environment. We need to demand the reci- procal obligation by states and non-state actors to prevent the foreseeable adverse effects of climate change and ensure that those affected by it, particularly those in vulnerable situations, have access to effective remedies and means of adaptation and economic prosperity. The climate, economic and development nexus of freedom and justice in the transition is based on the notion of the freedoms we want: “freedom from want, freedom from fear, freedom of expression and participation, freedom to realise one’s human potential.” With extreme weather conditions and climate induced disaster more prevalent these days, the race to find solutions to mitigate climate…

WEBUYCARS (WBC) will list on the JSE tomorrow (April 11), and it and parent Transaction Capital had successfully raised R902.7 million through the listing process so far, at a price of R18.75 per WBC share. This was through the issue of 40 million WBC shares for R750m immediately prior to the listing, and the disposal by Transaction Capital of 8.15 million WBC shares for about R152.7m, the companies announced yesterday. As a result, the final number of ordinary shares in issue as at the listing date of WBC would be 417.18 million shares, at a price of about R18.75 per WBC share. This implied a market capitalisation of R7.82 billion for WBC on listing on April 11, subject to demand and market conditions on the…

South Africa’s retail sector may be facing headwinds that have seen some grocers struggle and others stoop into value propositions to attract consumers on the back of subdued economic activity. However, the country’s supermarket chains have remained among the strongest brands, banding together with the likes of MTN, Standard Bank and Nando’s among the top 10 most valuable brands. The 2024 Top 100 South African Brands List released yesterday by Brand Finance, a global valuation consultancy, features six retailers in the top 10-ranked South African brands. “South African retailers remain amongst South Africa’s strongest brands, despite mixed brand value fortunes. There were six retailers in the top 10 strongest brands in South Africa, indicating the sectors’ overall strength,” said Brand Finance yesterday. Woolworths remained the strongest retail brand for the…

SOUTH African icons in the sport, fashion, music, business and art industries have come together in a campaign to celebrate our country’s three decades of freedom. Put together by Apple Music, the “30 Years of Freedom” campaign sees legends such as PJ Powers, Nomzamo Mbatha, Benni McCarthy, Connie Chiume, Laduma Ngxokolo, Rich Mnisi, Melanie Bala, Arno Carstens, Sylvester Chauke, Brenda Mthambo, Musa Keys and Gregory Maqoma create music playlists that they think have defined these last 30 years of freedom. In true Mbatha style, the actress chose to curate songs that are “deeply nostalgic” to her. Her playlist includes 38 songs from TKZee’s Dlala Mapantsula to Fairytale by Liquideep, as well as songs from the late AKA and Zahara, Mafikizolo, Malaika and Thandiswa Mazwai. She also has Grammy-award-winning artists Tyla…

Fans of musicals will be delighted to learn that the critically acclaimed coming-of-age production, Spring Awakening, will be staged at Pieter Toerien’s Theatre at Montecasino from Friday. The rock musical by LAMTA (the Luitingh Alexander Musical Theatre Academy) is directed by the award-winning Sylvaine Strike. The show, which delves into the lives of a group of adolescent students discovering their sexual identities and desires as they rebel against the prevailing burdensome and restrictive societal norms, marks her musical debut. In a recent chat with Strike, she said: “It’s been a lifetime of developing work that is highly physical, highly visual. I use music in a lot of my work. “And it’s a very poetic style, I have, but I’ve never ventured into musical theatre territory because I’ve always found it…

The uMkhonto weSizwe Party (MK Party) said it felt vindicated by the decision of the Electoral Court following its appeal against the objection of the Electoral Commission of SA (IEC) to bar its leader, Jacob Zuma, from contesting the coming elections. Yesterday, the Electoral Court granted the party and Zuma the right to appeal against the IEC’s objection against Zuma’s candidacy as the face of the party. “We are extremely happy and vindicated. This is a historic and landmark ruling which asserts the rule of law. The time has come that the country returns to its rightful hands. “We have seen what the IEC has done and this judgment confirms what we have been saying and we feel vindicated by the judgment,” MK Party spokesperson Nhlamulo Ndhlela told The…

The war between two Soweto taxi associations, Nancefield-Dube West Taxi Association (Nanduwe) and Witwatersrand Taxi Association (Wata), has forced commuters to seek alternative means of transport since Monday. This comes as the two associations have been at loggerheads, resulting in taxi violence that has placed the lives of passengers in danger. Lesiba Mpya, the spokesperson for Gauteng MEC for Transport and Logistics Kedibone Diale-Tlabela, said the taxi war between Nanduwe and Wata had been ongoing since 2013 and sanctions were continuously being imposed to end the conflict. “The conflict since 2013 has prompted different authorities imposing sanctions, from closing ranks and routes, dissolution of executive committees and appointment of administrators to administer the association’s daily admin affairs,” he said. Seventy-four fatalities have been confirmed by Wata since the start…

FOR the second year in a row, the University of Pretoria (UP) has claimed a 100% pass rate and the first-placed student in the South African Institute of Chartered Accountants (SAICA) Initial Test of Competence (ITC). More notably, four of the top five positions are all held by UP alumni. They are Gareth Griffiths, Udo Böhmer, Matthew Pollock and Thalene Hanekom. The ITC is the first of two SAICA qualifying examinations. It assesses how well a candidate can apply their technical competence acquired via university programmes, through the analysis and evaluation of specific scenarios. Nationally, there were 24 candidates who achieved 75% or more in this year’s ITC. Nine UP students were part of this group that included the students who placed in the top five as well as Kayla…

THE GROUNDBREAKING compilation of short films In Bloom has sparked a global dialogue among women about the reasons why sanitary pads have to be provided at no cost to anyone. This anthology highlights important gender issues and was produced by the MTV Staying Alive Foundation with funding support from the Bill & Melinda Gates Foundation and Paramount. According to research by I Menstruate (2022), 83% of South African girls enrolled in school do not regularly have access to menstrual hygiene products at home or at school. Period poverty is a serious social issue on the continent. By making sanitary pads free for everyone, the stigma relating to menstruation can be addressed with the urgent problems of period poverty, education, and health. To build a society that is more accepting and…

Between 2011 and 2015, the 41-year-old blonde polo player, who lives at the exclusive Val de Vie Estate outside Paarl in the Cape Winelands, was gifted a staggering R80 million from her lover, Markus Jooste. In Berdine Odendaal’s latest court documents, filed with the Supreme Court on Appeal (SCA) in February, she wants the South African Reserve Bank (Sarb) to give her R150 000 a month to cover her monthly expenses, that include R70 000 stabling of her polo ponies, R10 000 a month for her beauty treatments, vitamins and make-up, R5 000 clothing and R4 000 wages for her domestic worker. Any normal person would raise the question as to whether this woman has any moral compass? Why would she not simply try to stay under the radar and…