Inhoudsopgave van 2024-07-01 - Star

Tawanda Karombo THE INTERNATIONAL Monetary Fund (IMF) on Friday forecast that Zim- babwe’s economy could ramp up growth to 6% next year, banking on relative stability after introduction of the new gold-backed currency. However, the IMF cautioned that President Emmerson Mnangagwa’s administration should intensify the fight against corruption. Buffeted by headwinds such as high consumer inflation and foreign currency woes, the IMF said Zim- babwe’s economy “continues showing resilience”, with growth “expected to decelerate to about 2% in 2024” from 5.3% last year. This as the country faces the devastating effects of the El Niño-induced drought amid higher import bills that are worsening the country’s balance-of-payments outlook. Against this backdrop, the Reserve Bank of Zimbabwe (RBZ) in April introduced a new currency, the Zimbabwe Gold (ZiG) as the Zimbabwe dollar…

Poultry meat prices in South Africa experienced an exceptional increase in the three months to end March this year, due to steady import demand from leading importing countries, the National Agricultural Marketing Council (NAMC) said on Friday. According to the NAMC’s Poultry Products Price Monitor, domestic producer prices for whole fresh chicken, frozen chicken and IQF chicken pieces increased by 9.40%, 7.54%, and 2.54% respectively during the first quarter of this year, compared to the final quarter of last year. The report tracks the cost of different chicken meat products in South Africa, compares them to current global poultry market trends and makes appropriate recommendations. The NAMC said the recent trend in producer prices could be attributed to several factors. “Notably, the recent drought incidents disrupted feed production in numerous…

LAST FRIDAY the import duties on solar panels rose from zero to 10%. Here is what happened and why I think this decision is a poor one: On April 17, 2017, ARTSolar, a local solar panel manufacturer, filed an application with the International Trade Administration Commission (Itac) to increase the duties on solar panels. Yes, you read right. 2017. Seven years ago. In their application ARTSolar points out that it (ARTSolar) was pivotal in ARTSolar and Sun Edison winning a 65MW Round 2 Renewable Energy Independent Power Producer’s Programme (Reipp) project, because of ARTSolar’s local credentials. When government buys solar panels as part of Reipp, they are meant to have at least 25% local content. Sun Edison imported all the panels from China, putting them in breach of these local…

WHEN we dig our heads in the sand away from the facts, the song Lie to me by Brook Benton calms our nerves, albeit falsely and only momentarily. Say It is more explicit in terms of the desire for good news. The lyrics read, “Say that you love me, even if you lie baby, that gives me some consolation.” Social media is awash with what is strategic and important amid the choosing of South Africa’s Cabinet. The political stakes are high and portfolios are being allocated and the bickering is loud. Which political party gets what and how much, and the monetary value and political clout of that port- folio, is the name of this new mono- poly game. Who controls what. An interesting guide is the size of money…

NAMPAK’S share price shot up 8.14% on Friday after it reported a massive turnaround in operating profit to R992 million compared to the R558m operating loss in the first half of the year before. The company has been positioning itself for a turnaround in the past two years, with new management, restructuring and disposals, after Africa’s biggest packaging manufacturer ran into financial difficulties following losses from expansion into other African countries. “The group has made positive strides over the past twelve months in respect of its ambitious transformation agenda,” chief executive Phil Roux said in the results. JSE investors have been keenly anticipating the turnaround, as evidenced by the fact that the share price traded at R285.50 on Friday, and a year before it was only 86 cents.…

POPULAR sportscaster Robert Marawa, has teamed up with local comedian Skhumba Hlophe, to host a football show that seeks to inform and entertain viewers. Marawa, who is the inspiration behind of many of Mzansi’s long-lasting sports shows, including SoccerZone and Extra Time, is co-hosting a new Showmax sports magazine show, The Quantum Football Show. It sees Hlophe behind the wheel of the Quantum, driving through the streets of Johannesburg with Marawa in the passenger seat. Along the way, they stop to pick up guests with whom they engage in discussions about Mzansi’s most loved sport: football. “I am always up for something different ‒ from anchoring in the studio, which is very structured, very formal, this is something where you get to be the ‘fan’, you get to do what…

The Department of Correctional Services (DCS) has denied allegations that some of its officials have been involved in the victimisation of four inmates linked to the Kutama Sinthumule Maximum Correctional Centre fire in Limpopo. This follows allegations by some activists that some of the prisoners accused of starting the 2023 fire at the maximum prison facility have been on the receiving end of physical assault and harassment by officials. This is as The Star has been learning of various alleged incidents of abuse against errant inmates at prison facilities across the country. However, the latest incident allegedly involving inmates accused of starting a fire at the Kutama Sinthumule Correctional Centre (KSCC) last year has raised some eyebrows. According to founder of Justice by Exclusive Mediators, Glynis Marriday, inmates were allegedly…

Continents apart a medical miracle and history was made after a young man from South Africa received a stem cell from a donor living in Texas, in the US, who joined the US National Bone Marrow Registry over 30 years ago. Like scenes out of a movie, 28-year-old Ramabele Tsolo, who had been battling leukaemia since 2018, met this donor, Pete Johnson, 62, for the first time on Thursday at the International Donor Registry Conference held at Century City Conference Centre. The SABMR (NPO) was established in 1991, motivated by the concern that although bone marrow transplants were a life-saving treatment option, they were only available to patients with a matching donor in their family but these days, the SABMR search both locally and internationally for donors. The International Donor…

THE first episode of the six-part reality-TV series Crown Chasers, announced this year’s Top 16 Miss South Africa contestants, with Gauteng leading the pack. Every week, Crown Chasers airs on S3, providing an up-close look at the competitors vying for the title. The contestants represent six provinces: Gauteng has nine (four from Soweto), Mpumalanga three, and the Eastern Cape, KwaZulu-Natal, North West and Western Cape one each. The Top 16 include Chidimma Adetshina, Kebalepile Ramafoko, Kirsten Khan, Layla Zoubair, Lebohang Khoza, Lethaukuthula Maseko, Mia Le Roux, Naledi Matlakala, Nobuhle Langa, Nolene Spinks, Nompumelelo Maduna, Onalenna Constantin, Ontshiametse Tlhopane, Palesa Lombard, Reinette Potgieter and Taahira Katz. Adetshina , 23, from Pimville in Soweto, is a model, netball player, and law student at Varsity College. Ramafoko, 25, from Emalahleni, Mpumalanga,…

South Africa has experienced a 30-year democracy since 1994. On May 29 this year many South Africans took to the streets to vote for change after widespread dissatisfaction with the previous government. With the ANC receiving less than 50% of the country’s votes, its efforts to form alliances have bolstered its proposal for a Government of National Unity (GNU). Negotiations are ongoing among 10 out of the 18 parties involved in the GNU while the nation awaits President Cyril Ramaphosa’s final decision on his Cabinet. Meanwhile, opposition parties have criticised the ANC for including parties such as the DA and Freedom Front Plus in its GNU, labelling them sell-outs. However, each of the four major parties could be viewed as having compromised their principles and becoming sell-outs. ANC…

THE AFRICAN Export-Import Bank (Afreximbank) signed a Memorandum of Understanding (MoU) with the World Trade Organisation (WTO) to amplify the impact of their strategically aligned joint efforts of promoting global trade leveraging Africa’s unique resource endowment. The MoU is expected to allow the two organisations to pursue a colla- borative framework for harmonising and co-ordinating their efforts towards deepening key trade development activities on the continent. Afreximbank and the WTO are part of an inter-agency partnership that is championing transformative change in the cotton industry in Africa’s Cotton-4 plus (C4+) countries, which include Benin, Burkina Faso, Chad and Mali, as well as Ivory Coast as an observer. The MoU will allow Afreximbank and the WTO secretariat the opportunity to expand and deepen their collaboration to support the cotton sector beyond…

THE National Transmission Company of South Africa (NTCSA) gets off to a quiet start today as a principal dealer in electricity as questions linger over the utility’s balance sheet, debt burden, power in lead land acquisitions, and whether it will convince investors to buy into investment needed to unlock more renewables, including 1 400km a year of new power lines for the next decade. The division, led in an acting capacity by Eskom’s head of transmission Segomoco Scheepers, is expected to operate according to the market code, ensuring fair access to the grid for all those qualified to generate electricity in an open-access market. The new market system is envisaged as an improvement over the Renewable Energy Independent Power Producer Procurement Programme, in which investors must wait for specific…

PARLIAMENT is an equal partner to the national executive, yet all too often it has been content to simply await the Budget and government programme from Cabinet. Parliament is entitled under law to not only pass or reject the Budget, but also to amend it. Both Houses of Parliament hold extensive public hearings for the Budget in February, as well as the Medium-Term Budget Policy Statement in October. During these hearings it receives substantive proposals on matters that should be included in the Budget; yet rarely, if ever, has Parliament exercised its constitutional authority to amend the Budget. While one would want to avoid the chaos, brinkmanship and pork barrel politics that have come to characterise budgetary processes in the US, there is value in Parliament asserting its leader- ship…

RENERGEN has started its new financial year off on a high note after the recent first commercial liquid helium production, and the road ahead looks promising as the company seeks to bring in equity capital from the US, says chief executive Stefano Marani. “While it wasn’t a smooth year, mired in volatility and setbacks, we are in a very strong position with domestic energy markets in drastic need of new sources of energy; global helium markets in need of supply chain diversification to stabilise the recurring helium crises; and formid- able supporters backing our world class project,” he wrote in the company’s annual report, released on Friday. Marani said he had moved to the US in early August 2023 to lay the foundations for a Nasdaq initial public offering (IPO),…

It felt like Beef was destined to be a one-off miniseries and after snagging accolades at the 75th Annual Emmy Awards for its actors, Steven Yeun and Ali Wong, as well as a Best Limited Series award, it seemed like the perfect curtain call. In all, it cleaned up with eight awards at the ceremony earlier this year. The series delves into what happens when we unleash our inner demons and embrace our darkest desires, showing that misery really does love company, regardless of your tax bracket. Additionally, the dramedy series highlights the chaotic aftermath of a road rage incident between two strangers, Danny Cho and Amy Lau. Danny, played by Yeun, is a failing contractor with a chip on his shoulder, while Wong's…

Following the success of the Throwback Cinema titles screened in May and June, Ster-Kinekor is continuing the popular promotion next month. The team at Ster-Kinekor have selected four all-time favourites to screen for a week each in July. The movies will take viewers from a rebel Scottish clan to mummies returning, a strong band of sisters and one pretty woman. Lynne Wylie, the chief marketing officer of Ster-Kinekor, said: “Throwback Cinema allows us to bring back some timeless films for our customers to relive and enjoy once again, at a very affordable ticket price. “We’ve had a wonderful time going through the catalogues to select the films, and we are sure everyone who books a ticket to watch one of them will have a similar big screen experience.” The first…

The author of the book South African dream, Tracey Reign, has criticised the leaders of this country – including the government, for not doing enough to empower the youth – arguing that not much was said in Youth Month in support of young people. June last year marked the 47th anniversary of Soweto June 16, which ended tragically with hundreds of young people killed. After the dawn of a democracy in 1994, June became known as the Youth Month. The government said earlier this year that Youth Month would be celebrated under the theme, “Accelerating youth economic emancipation for a sustainable future”, however, Reign said not enough was being done to emancipate the youth in the country. She said in the past, youth would be prioritised, but in recent…

The slow move to pursue those implicated in criminal activities and state capture has exposed institutional weaknesses and challenges in the criminal justice system. This is according to Corruption Watch, which added that the lack of progress to date is disheartening. About 1 438 people have been implicated in the rampant looting and capture of South Africa’s state-owned enterprises, termed state capture. However, only a few were prosecuted, mainly those close to former president Jacob Zuma. Other implicated ANC leaders such as Gwede Mantashe, Thabang Makwetla, David Mahlobo, Malusi Gigaba, Faith Muthambi and Mildred Oliphant have not been prosecuted. Corruption Watch executive director Karam Singh said besides the initial set of cases, there were numerous people implicated in state capture who the National Prosecuting Authority (NPA) must pursue. “The wheels…

THE City of Tshwane has the potential to become the economic hub of the continent if it succeeds in forging public-private partnerships to drive its efforts to secure energy independence. This was the sentiment expressed by chief executive of the Tshwane economic development agency (Teda), Dr Lardo Stander, during the recent inaugural Tshwane Energy Summit in Menlyn. He said the event presented a platform to align public and private partnerships by “ensuring the private sector understands what the City’s goals are and what the future, the economic and energy landscape for Tshwane looks like”. “If we get this right, this will make us the economic hub of the continent. It’s with this priority and focus that we have pulled in our stakeholders, both in the government and the private sector…

In JABU Nxumalo’s vivid recollection, there was nothing amiss when she hooked up with a Joseph Ssekasi on dating site Tinder last year. The Joburg mother was hoping to find an honest, loving boyfriend when she joined the dating app, and soon Ssekasi was courting her. “At the time, he called himself Deron Mundari, and claimed to be from South Sudan,” Nxumalo told IOL as part of a series on romance scams in South Africa. “He seemed like a down to earth, respectful person. Little did I know that he was in this relationship for a pay cheque in the name of love.” Hardworking women, particularly those with steady jobs including public servants, have been scammed of millions by unscrupulous men, who target vulnerable women in the name of dating.…

THE failure to speak out against the objectification of MP Duduzile Zuma-Sambudla reverses the gains achieved in the fight against patriarchy and women’s rights in South Africa. Since the news of Zuma-Sambudla going to Parliament, pictures of her wearing bikini and swimwear outfits have been posted at an alarming rate on social media. Flooding the social media with these pictures is meant to derail society from viewing Zuma-Sambudla as a leader of society who was fairly elected in that position and reduces her into a pretty face with no capacity to be in Parliament. The fact that these pictures were already posted on social media does not excuse the timing and insinuation charged by those reposting them now. Standing up against an unjust act should not be influenced by political…

Conduct authority suspends licences of 1 061 financial services providers THE FINANCIAL Sector Conduct Authority (FSCA) imposed penalties of almost R1 billion against more than 30 people last year for flouting market conduct rules among other issues, up 843% in rand terms from last year, when it penalised 44 people. Speaking during the media roundtable on Friday afternoon at the launch of its 2023/24 annual report, Gerhard van Deventer, divisional executive of the FSCA’s enforcement division, said it was now so much more relevant to demonstrate that the authority was ensuring compliance within the context of greylisting. “We do want to emphasise that, when we take decisive and visible actions, we send a clear message to the financial sector, financial institutions and to individuals in the financial sector that…

THE GLOBAL cannabis market has experienced exponential growth over the past decade, driven by a combination of evolving societal attitudes, legislative changes and an increasing recognition of the plant’s medicinal benefits. Countries such as Canada and several States in the US have led the charge, legalising both medical and recreational cannabis use. This shift has spurred an explosive industry valued at billions of dollars, with projections suggesting continued expansion in the coming years. South Africa, with its favourable climate for cannabis cultivation and a history of traditional use, is well- positioned to tap into this growing market. The potential impact on the South African economy could be substantial, especially if the country can effectively navigate the complexities of regulation and market development. Medical and recreational applications Cannabis holds significant promise…

Last week demonstrated how fragile and uncertain the first “coalition” government of South Africa will be as the Government of National Unity (GNU) struggled to cross the first main hurdle towards successful co-operation consolidation and fought to reach consensus on a new Cabinet. Foreign investors did not like this uncertainty and sold South African bonds and some shares on the JSE. In reaction, the rand depreciated last week by 30c against the US dollar to R18.25 at the close on Friday, from R17.95 on the previous Friday, after the president was sworn in. The currency, however, is still 70c stronger than at the beginning of the month (R18.95/$), after the results of the national election was pointing towards the minority of the ANC and the fanatical support for the MK.…

MC Mining on Friday announced it had secured a R20 million loan facility from Dendocept Proprietary Limited, which holds about 6.8% in the company. Funds under the loan will be used to fund the mining group’s working capital. MC Mining, formerly Coal of Africa, develops and mines for high quality thermal and coking coal in South Africa. The R20m being advanced by Dendocept will be taken up under MC Mining's wholly-owned subsidiary and group administration company, GVM Metals Administration. “The facility is available for a period of 12 months from first drawdown and must be repaid on or before the end of this period,” the company said. “Interest will be paid monthly, calculated using the prevailing Investec South Africa prime interest rate (currently 11.75%) plus a margin of…

MR PRICE Group, in its 2025 financial year, will focus on growth from existing operations, a departure from the strategy in the past three years where growth was supported by acquisitions. CEO Mark Behr said in the value clothing and homeware retail group’s annual report released on Friday they would also invest appropriately on existing operations, especially considering the threats of global commerce players. “We’re in the pursuit of consistency – that our activities result in an ever-improving position, and that we are rated above our peer group,” he said. Organic concepts Mr Price Cellular and Mr Price Kids were already showing great promise, he said. “The year ahead will be tough – in the absence of growth in gross domestic product and employment, consumers will continue to be hard-pressed…

An African Congress for Transformation (ACT) senior official has rubbished claims that party member David Mkhabela was Ace Magashule’s son-in-law. The senior member, whose name is known to The Star but declined to be named, said yesterday that those pushing this narrative had a nefarious motive against Magashule. “All these things are being said because they are afraid of Magashule. They failed to destroy him while he was their ‘comrade’ now they are trying to paint him as some kind of a dictator. “All those alleging that Mkhabela is Magashule’s son-in-law must produce scientific evidence, otherwise they must shut up,” the ACT senior member said. Mkhabela’s family member, who also did not want to be named, confirmed that David Mkhabela was not Magashule’s son-in-law. “This allegation is laughable, my brother…

Ingredients Salt and milled pepper 2kg beef short ribs Olive oil blend, for roasting 8 cups water (enough to cover meat) 4 red peppers, roasted and seeds removed 2 onions, chopped 4 cloves garlic, grated 2 Tbsp chipotle powder ½ tsp ground cloves 4 tsp each ground coriander and ground cumin 2 Tbsp smoked paprika 2 fresh bay leaves 1 cinnamon stick 1 bottle passata sauce For serving: Julienne-sliced red onion Handful fresh coriander Sliced jalapeños 1 tub (250ml) sour cream, optional Lime halves Method Season beef well and heat oil in a large pot. Brown meat in 2–3 batches until dark and caramelised on all sides. Return all the meat to the pot. Cover with water, making sure meat is fully submerged. Simmer for about 1 hour to create…

As the BRICS ministers of foreign affairs/international relations met in Nizhny Novgorod, Russian Federation, on June 10, 2024, the triple challenges of unprecedented wars threatening to implode into global conflict, climate change and the structural systemic economic challenges emanating from historical marginalisation and hegemonic domination of the Global South weighed heavily on their thinking. Although analysts have tended to view the potential influence of BRICS+ in purely economic terms, the discussions at the meeting suggest that BRICS+ is focussed on wider crucial matters of concern to emerging economies which require the collective attention, co-operation and energy of all its members and interested parties. Crucially, such issues as commitments to fighting climate change, democratising multilateralism and calls for a fairer global economic system would be more realistically achievable when confronted collectively.…