Inhoudsopgave van 2024-07-26 - Star

African trade ministers have urged the US government to do away with the annual reviews of the African Growth and Opportunity Act (Agoa) and expressed concerns over the unilateral removal of eligible members from the trade agreement by the US. The ministers also expressed the importance of an expeditious renewal of Agoa by the end of 2024, with non-controversial enhancements and amendments for a minimum of 16 years to provide the required predictability and certainty to the trade and investments relationships between the two sides and to address graduation side by side with the extension of Agoa to preserve existing regional value chains. This was expressed in a read-out statement of African ministers under the African Union yesterday at the 21st Agoa Forum in Washington D.C. where they are seeking…

The backlog of air service licence applications and foreign operators permits (FOPs) is stacking up again after the Department of Transport (DoT) stopped paying preparation allowances for members of both the domestic and international Air Services Licensing Council (ASLC), citing a review of the allowances and prudence in the management of public funds. The ASLC is a statutory body responsible for awarding or revoking traffic rights to airlines based in SA subject to operational, safety, and liability requirements. The members – professionals of varying disciplines in the legal and aviation sector – were appointed to the councils by the Minister of Transport at the height of backlogs in March 2022 after the sector had a close to two-year period with no regulatory functions in the aviation space. The timing of…

THE inaugural South African State of Climate Action Report, developed by the Presidential Climate Commission (PCC), was officially handed over to Department of Forestry, Fisheries, and the Environment Minister (DFFE), Dr Dion George. The report found that, even with South Africa’s commitments to addressing climate change, it must “accelerate implementation efforts, particularly in areas of governance, financing, and market reform”. Among the issues the PCC found to be hindering a move towards Net Zero – the UN’s 2050 target for a climate-free world – were incoherent policies, weak governance structures, insufficient finance, and inconsistent actions by the government and other stakeholders. “Our country continues to face significant climatic risks and impacts. Floods and droughts have ravaged different parts of our country in recent months, with the impacts affecting the poorest…

South Africa has abundant resources and strategic geographic position, yet faces numerous economic, political, and social challenges that make local investment a high-risk endeavour. Given the current landscape, it is prudent for South African investors to consider diversifying their portfolios by investing internationally. What are some of the critical reasons for this strategy and its potential benefits for South Africans who remain in the country? South Africa’s economic growth has been erratic, marked by a sluggish recovery post-Covid-19 and further exacerbated by structural issues such as power shortages and logistical bottlenecks. The inflation rate has been volatile, reaching 6.9% in 2022 due to spikes in food and fuel prices, while the South African rand has depreciated significantly, undermining the value of local investments. In contrast, many international markets, particularly in…

Anglo American is pushing ahead with the streamlining and restructuring processes to refocus the company on copper, iron ore and crop nutrients although it is suffering impairment hits along the way, with revenues, dividends and earnings for the June 2024 interim period taking big knocks. Anglo American CEO Duncan Wanbald said yesterday that the company, which is demerging Anglo American Platinum and De Beers as well as divesting out of nickel and steelmaking coal, was “moving at pace to create a much more agile and structurally profitable” mining company. Its “steelmaking coal divestment process (is) under way, with strong interest reiterated post the Grosvenor (explosion) incident”. The nickel divestment process was also in progress. At a media briefing yesterday, Wanbald said operations would probably resume at Grosvenor under a new…

After surviving a near-death shooting, renowned local actor Vuyo Dabula will make his return to acting in The Butcher’s Soul. The African Movie Academy Award nominee joins a star-studded cast for the Showmax Original film. They include the Saftas-winning Melusi Mbele in the lead, who returns to the screen after leaving Scandal! in June. The rest of the cast includes fellow Saftas winner and Gomora star Katlego Danke, Zinhle Mabena, who featured in Shaka iLembe, and Bokang Phelane from Blood Psalms. The action movie is directed by Kagiso Samuel Leburu, who won the Made for TV Film Golden Horn for his debut feature, Okae Molao. His latest movie, Month End recently made its debut at the Durban International Film Festival. In addition, four-time Saftas winner Adze Ugah, who also worked…

SOUTH African music artists recently gathered at Tsakane Stadium to entertain their fans on the soccer field, but things went south when popular local rapper Big Zulu and music boss DJ Tira got into a heated argument with gospel singer, Dumi Mkokstad, on live TV. The 4th instalment of Zulu’s celebrity soccer match saw fans come out in numbers to support Mzansi celebs. The 2024 edition kicked off on a high note. Unlike other times, this match had media sponsors and, for the first time, was televised on the SABC platform with sportscaster Andile Ncube as presenter. However, viewers were left shocked when an argument ensued over Tira including professional players in his team instead of having amateur players. The argument brought the game to a halt. Ncube quickly switched…

WITH South Africa’s major cities, including Pretoria (81.8) at number two, Durban (80.9) at number three, Johannesburg ( 80.7) at number four, Port Elizabeth at number eight, and Cape Town (73.5) at 16, ranked as the most crime-ridden cities on the continent, Interpol’s Dr Jurgen Stock says more needs to be done to ensure stability of communities. Crime Index by City 2024 (Numbeo’s crime index) has also revealed that Pretoria is the second most dangerous city in the world while Joburg is ranked fourth. Stock, during his meeting with National Police Commissioner General Fannie Masemola in Pretoria on Wednesday, said organised crime is a threat to the stability of communities. “Organised crime constitute a threat to national security. Organised crime syndicates are becoming stronger, day by day. “They are becoming…

It was probably the proverbial kick under the behind that the Blitzboks needed to make them realise their potential, but Team South Africa made it out of the pool stages for a place in the quarter-finals of the Rugby Sevens at the Paris Olympics yesterday. They put up a brilliant offensive display to seal a magnificent 49-5 win over Japan for a first win at the Stade de France and safe passage as the final qualifying team to the knockout stages. The South Africans delivered arguably one of their best performances this season, scoring seven tries in the romp to get over the line as the second-best third-placed side to qualify for the medal play-offs. The quarter-final was the hurdle the Blitzboks struggled over at the previous Olympics, but they…

Paris Olympics organisers were yesterday investigating the crowd trouble during a chaotic football match between Argentina and Morocco that marred the opening day of sport at the Games. Argentina’s football association called, meanwhile, for action after the defeat for its men’s side on Wednesday. The Moroccans beat two-time gold medallists Argentina 2-1 in Saint-Etienne at the end of a game mired in confusion and crowd trouble. Argentina thought they had salvaged a 2-2 draw when Cristian Medina scored in the 16th minute of injury time as the game went on even beyond the 15 extra minutes indicated by officials. But crowd trouble ensued, with projectiles launched onto the pitch and spectators invading the playing area. A firecracker was thrown at the Argentina bench. The players were taken off, before reappearing…

THE topic of franchise T20 competitions having a negative impact on the longer format of the game has been discussed at length. And the chickens have finally come home to roost for South Africa, as only half of the squad will land in the Caribbean today for the two-match Test series, with the other half scattered all around the world. Kagiso Rabada, Nandré Burger, Aiden Markram, Matthew Breetzke, Ryan Rickelton, David Bedingham, Lungi Ngidi and Dane Piedt were not a part of the Proteas’ preparations for the Windies tour, as some were on T20 duty in the US and the UK. Not having the full squad preparing for a series has its repercussions, but in South Africa’s case, the repercussions are amplified by the very little cricket that they have…

MC Mining Limited has secured a A$1 million or US$700 000 (R1.3 billion) loan facility from Eagle Canyon International, which is linked to the company’s current CEO and MD Christine He, in a further show of support by the company’s directors and shareholders. He controls Eagle Canyon International, with the new unsecured loan facility having a final maturity date of June 30 next year. Interest for the facility will have to be paid monthly at the prevailing Australian Reserve Bank Rate for medium business that currently stands at 6.25% plus a margin of 3%. “The facility will be utilised for general working capital and is a further positive step in stabilising the company’s liquidity position,” said Mathews Senosi, MC Mining interim chairperson. Senosi added that the facility “reflects the…

A journey starts with the destination, and then we plan how to get there. The route we choose, using the means available, particularly in city traffic or South African health care, determines when we can expect to arrive at our intended destination. As South Africans, we have set our destination as a future of healthcare equality, but the route mapped out for us in the National Health Insurance Act is potholed, long, and winding. As the health minister points out, structural imbalances between private and public health care must be addressed. However, the fork in the road ahead could put us on the highway to equalising health care, to the detriment of scarce healthcare resources, which may result in more rationalisation of services for those who need them most. The…

British American Tobacco (BAT) is on track to meet earnings guidance for 2024 even though global industry volumes are expected to be 2% lower, with weakness in the US, France and Sudan offset by an improving outlook in Türkiye and Mexico. The group said at the release of interim results yesterday that it anticipated low-single figure organic constant currency revenue growth for the year. It also forecast low-single figure organic adjusted profit from operations growth, including a .2% transactional foreign exchange headwind. Capital expenditure in 2024 was expected to be about £600 million (R14.1 billion). “We have made progress in enhancing financial flexibility, enabling the initiation of a sustainable share buy-back programme. “Guided by our refined strategy, I am confident we will progressively improve our performance to deliver 3–5% revenue,…

WORKING South Africans are more positive about their finances than they have been since the onset of the Covid-19 pandemic in early 2020. This is the good-news message to come out of the 2024 Old Mutual Savings and Investment Monitor Report released this week. While economic challenges remain, we appear to have turned the corner in managing our money and improving our prospects. Voyukazi Mabude, head of knowledge and insights at Old Mutual, says the latest report reveals how working South Africans, from young adults starting their careers to those planning for retirement, are determined to secure their financial futures despite ongoing economic hurdles. “The report highlights how South Africans are not only resilient but also innovative, taking proactive steps to improve their finances by reducing their reliance on debt,…

Hammerson, the UK-based owner of city centre destinations with a secondary listing on the JSE, yesterday declared a 5% higher interim dividend of 0.756 pence a share on a payout ratio of 76%, following a strong year operationally and further moves on the third year of a turnaround trajectory. Further good news for shareholders was the announcement that the board intended to increase the policy payout ratio from its current policy of 60–70%, to 80–85%, after the sale of the Value Retail assets. Plans were afoot to also simplify the share capital through a 1 for 10 share consolidation, and to increase distributable reserves by reducing the company’s share premium account. “I am pleased to report we’ve had a strong first half. We are realising the benefits of our investments…

Food enthusiasts and those seeking a healthier lifestyle are in for a treat at The Good Life Show. This year’s event will feature four shows under one roof: The Plant Powered Show, The Natural & Organic Show, The Free-From Show and Sustainex. The Good Life Show is open to all those seeking a healthier, more sustainable and eco-conscious lifestyle as well as food enthusiasts eager to explore new, innovative, exciting ingredients,” Heidi Warricker from Live Events, who is hosting the event, explained. Attendees will also be able to watch live cooking demonstrations in the Woolworths Good Life Kitchen and participate in interactive masterclasses hosted by professional chefs. “All our chefs will be creating wonderful and inspiring food that not only showcases their skills but also shows the best in plant-based…

Deputy Chief Justice Maya raises Bar for SA, women President Ramaphosa yesterday announced Justice Mandisa Maya as the Chief Justice of the Republic. She replaces the politically conflicted Chief Justice Raymond Zondo, whose term ends on August 31. Zondo is considered Ramaphosa’s last line of defence. The EFF had previously questioned the manner in which Zondo was parachuted into the Chief Justice’s office. The EFF said since “Comrade” Zondo’s ascendancy in the chief justice office, majority of South Africans had lost confidence and certainty that the judiciary was led by a person who was beyond the reach of the “greasy and dirty hands of politicians”. “First, the manner of his appointment left much to be desired. The Judicial Service Commission (JSC) sat and interviewed four candidates, and after intense deliberations,…

The financially-strained City of Joburg has finally approved the Agence Française de Développement (AFD) R2.5 billion loan to alleviate service delivery struggles. The loan will be repaid over a period of 15 months. It was passed during a council meeting yesterday after being the centre of controversy for several weeks. ActionSA voted with the EFF, ANC, DA, African Independent Congress (AIC), African Transformation Movement (ATM), and PA in favour of the motion, while the GOOD party and Freedom Front Plus voted against it. About 246 voted in favour of the proposal and five against it, while zero abstained. ActionSA was among the parties that previously rejected the loan earlier this month. It was rejected due to Finance MMC Dada Morero not providing adequate information on the purpose and terms…

The calls for the removal of Joburg Mayor Kabelo Gwamanda have intensified as the Joburg Crisis Alliance (JCA) gears up to hold a picket at the Metro Centre tomorrow. The JCA – an alliance of the Organisation Undoing Tax Abuse (Outa), the Ahmed Kathrada Foundation, the Rivonia Circle, Action for Accountability and Defend our Democracy – held a media briefing at Constitution Hill in Johannesburg yesterday, urging people to join the picket against tariff increases and in support of the call for Gwamanda’s departure. Outa CEO Wayne Duvenage said although the mayor had inherited a broken metro, the need for ethical leadership was dire as the local government was facing corruption, mismanagement of funds and delayed infrastructure development. In a city racked with litter, poor infrastructure and water outages, Duvenage…

SPEAKER of Tshwane council Mncedi Ndzwanana was forced to adjourn council meeting yesterday after it descended into chaos over mayor Cilliers Brink’s comment likening the ANC in power to “a hard-drinking person in charge of a bottle store”. The ANC demanded that Brink withdraw his public utterance made during a television interview this week, but he refused to succumb to pressure to do so. The ANC councillors vowed to prevent the mayor from speaking in council after he didn’t accede to their demands to withdraw or apologise. Party councillors, joined by the EFF, stood up during the session, repeatedly shouting that Brink was not going to address “drunkards”. The controversial remark was made by Brink during the television interview when he reacted to the motive behind a motion of no…

Leading technology company HONOR held an exclusive event for media guests, stakeholders, and brand allies to celebrate the launch of the HONOUR 200 Series, which comprises the HONOR 200 Lite, HONOUR 200, and HONOR 200 Pro, on Wednesday. Tbo Touch and LootLove hosted an evening featuring live performances by artists like DJ Zinhle. Guests had the opportunity to experience the devices’ impressive studio-level capabilities first-hand. This is an accessible mid-range line-up that delivers flagship-level performance and an unrivalled studio-level portrait photography experience. During the launch event, the brand made landmark announcements of partnerships and collaborations it has pursued for the HONOR 200 Series campaign with much loved brands in South Africa. These included a one-of-a-kind collaboration with local streetwear fashion brand GALXBOY, GQ magazine South Africa and SuperSport United FC.…

Hosts France will sweep the world off their feet with a flamboyant Olympic Games opening ceremony on the River Seine tonight (8pm start). For the first time in Olympic Games history, the opening ceremony will be outside a stadium on Paris’ River Seine. More than 10 000 athletes will be on board 100 boats that will pass some of Paris’ most iconic places, including Notre Dame, Pont des Arts and Pont Neuf. The floating parade will begin from the Austerlitz Bridge and will end at the Trocadéro, where the remainder of the opening ceremony will take place. Team South Africa are set to come out fourth, in alphabetical order, as they will be referred to as Afrique du Sud, and their flag bearers will be athletics speedster Akani Simbine and…

THE Proteas Test team flew to the Caribbean last night for the two-match series scheduled to get under way on August 7, and coach Shukri Conrad found himself having to scramble for a replacement fast bowler at the last minute. Cricket South Africa’s medical team announced that 24-year-old quick Gerald Coetzee is not fit for the trip to the Caribbean due to a side strain that he suffered during the Major League Cricket tournament in the US earlier this month. Conrad opted for uncapped bowling all-rounder Migael Pretorius as Coetzee’s replacement. This is Pretorius’ second Test experience, having received his maiden call-up in December 2020 when South Africa hosted Sri Lanka. Despite being uncapped in the Test arena, Pretorius is 64 first-class games deep into his red-ball career, and is…

The tussle between two shareholders for control of poultry group Quantum Foods heated up yesterday after one of the protagonists demanded a meeting to oust the chairperson, in what one analyst described as an “ongoing battle between legends for a company that makes no money”. Quantum Foods Holdings said yesterday its 18% shareholder Country Bird Holdings (CBH) had demanded a shareholder meeting to discuss the proposed removal of chairperson Wouter Hanekom. CBH also called for the removal of Quantum’s lead independent director, Geoffrey Fortuin, from the animal feeds and poultry product group. The latest call for a shareholder meeting follows that of another shareholder, Braemar Trading, which in March also demanded a shareholder meeting to remove Hanekom from his position. Braemar is a company owned by the controversial Zimbabwean business…

MPACT Group said yesterday that the Competition Commission does not aim to impose a penalty against it following the settling of the price fixing complaints by competitor packaging group New Era Packaging. The commission, which acts as the investigating and recommending body for the Competition Tribunal, said this week that New Era had reached a settlement and agreed to pay R21.3 million amid claims that it and Mpact co-operated to establish prices of key products. The commission would forward the consent agreement to the Tribunal, which aims to settle two complaints against New Era without admission of liability. Mpact, on the other hand, had successfully sought immunity from prosecution in both complaints, in the process agreeing to co-operate with the commission. The commission initiated the first complaint for an investigation…

PLATINUM group metals (PGM) and chrome miner Tharisa Minerals have signed a wind and solar electricity wheeling agreement with renewable energy firm Etana Energy which will provide about 44% of the South African miner’s power requirements. The long-term power purchase agreement signed with Etana covers the procurement of renewable energy for the company’s Tharisa Mine on the western limb of the Bushveld Complex. “The 15-year agreement with Etana Energy Proprietary Limited will see Etana provide up to 44% of the Tharisa Mine’s electricity energy demand via wheeled energy from wind and solar farms in the Western Cape and Northern Cape, using the existing electricity transmission grid,” said Tharisa in a statement yesterday. Tharisa planned for the wheeled energy from Etana to come on stream in 2026, a development that would…

SIBANYE-Stillwater yesterday said it would delay by two weeks the release of its half-year financial results after a cyberattack on its IT system earlier this month caused disruption to its operations. The company said the publication of its operating and financial results for the period ended June 30, 2024, had been rescheduled to September 12. On July 11, Sibanye became a victim of cybercriminals after its IT systems were affected globally and it was yet to determine what sort of breach had occurred. It had brought in external experts to assist. Sibanye said although the cyberattack had a limited impact on its core operations, it had caused temporary system outages which resulted in the implementation of back-up manual processes on certain systems at the operations. Sibanye said since the attack…

A NEWLY-filed lawsuit shows Chris Brown and his entourage are being sued for $50 million (about R900m) for the alleged “brutal” and “violent” assault of four concertgoers. The R&B singer, 35, and several members of his team were allegedly involved in the incident last Friday, following the performer’s show at the Dickies Arena in Fort Worth, Texas. A lawsuit obtained by People says Brown and members of his entourage named Conway, Hood Boss (aka Omololu Omari Akinlolu) as well as Sinko Ceej, “brutally and severely beat” four men – Larry Parker, Joseph Lewis, Charles Bush and Damarcus Powell. They allege it was an unprovoked attack backstage at the show and that Live Nation – the promoter of Brown’s 11:11 tour – is also being sued over the alleged fight. The…

THE change of season often inspires a menu that aligns with it. As such, the Sandton Sun recently invited a group of media and influencers to sample its new winter offerings at its San Deck Restaurant, which is celebrated for its panoramic views of Africa’s Richest Square Mile. With the sun offering a reprieve from the cold, we were treated to a sumptuous feast of everything, which was paired with a selection of wines, starting with Stained Glass Rose by Ken Forrester on arrival. While I’m no wine connoisseur, it was interesting to learn that the bubbly wine was made through the méthode ancestrale, or ancestral method. In layman’s terms, it means that no sugar or yeast is added in the fermentation process. It’s completely organic. Now for the food,…

The US Department of the Treasury has announced sanctions against three individuals on the African continent for their alleged association with the expanded activities of the Islamic State of Iraq and Syria (ISIS). Two of the three people are based in South Africa and the third person is based in the Democratic Republic of Congo (DRC). “The individuals sanctioned today are being designated pursuant to executive order (EO) 13224, as amended, which targets terrorist groups and their supporters,“ the US Treasury said. According to the US Treasury, Abubakar Swalleh is a South African and Zambia-based ISIS operative who is allegedly involved in the physical transfer of funds from South Africa to the DRC. Swalleh facilitates the movement of ISIS-affiliated individuals from Uganda to South Africa and vice versa. The US…

Seventeen prison commissioners are due to face disciplinary action over dereliction of duty for allowing illegal contraband into their respective prisons. It is reported that about 589 prison warders would also face disciplinary actions for opening spaza shops in prisons and about 1 245 prison warders would face disciplinary charges for running sex for cash in prisons. There are further reports that 7 689 prison warders would also face disciplinary actions for smuggling banned items in prisons. On Wednesday evening, the Department of Correctional Services (DCS) conducted a multidisciplinary operation together with police at Johannesburg Prison (Sun City), where inmates at the Medium A Section were searched for weapons, drugs and cellphones. During the operation, cellphones, money, drugs and muti were among items recovered. However, speaking to…

TOO much work, too few judges. This is the situation at the Gauteng high courts – especially in the Pretoria division – with the result that litigants who are launching civil trials will have to wait until January 2029 before they will be heard by a judge. The Pretoria Attorneys Association has raised its concerns in this regard and in written submissions in a bid to find a solution to the crisis. It is contained in comments made to a committee that’s investigating and making recommendations to the justice ministry regarding, among others, the streamlining and workings of the divisions of the high courts. Under phase two, the committee is required to evaluate the judicial establishment of each division of the high court to ensure an equitable distribution of judicial…

The University of Pretoria (UP) has successfully rallied staff, alumni, donors and friends of the university behind its mission to raise R100 million to make education accessible for students in the “missing middle”. These are students who do not qualify for National Student Financial Aid Scheme (NSFAS) funding. UP’s Giving Matters campaign was launched in 2022, with the goal of raising R100m over three years to positively impact the lives of its community members. This initiative aligns with UP’s mission to cultivate a culture where individuals are inspired by the motto “Make today matter” and strive to make a meaningful difference in the lives of others every day. “While we will always need this kind of funding due to the ongoing socio-economic challenges in our country, we are proud to…

Tony Howard’s suspense file was legendary. A box file with internal memos, reports and latterly printed out emails, which he would go through at least once a day. It was the terror of tardy managers and errant editors in Cape Town, Durban, Kimberley, Johannesburg and Pretoria who would break out in a cold sweat on receiving an ostensibly innocent call from the CEO wanting an update on something they had long forgotten. Howard, who died in a Johannesburg hospital on Thursday, July 18 after a long illness, bravely borne, was renowned for his encyclopaedic memory and his unsurpassed work ethic. His car would perpetually be in its usual parking bay in B1 of The Star building at 47 Sauer Street (today Pixley ka Isaka Seme Street) by the time…

Wian Roux finished 63rd in the men’s individual archery event at the Paris Olympics yesterday. Roux, in his first senior Olympics, could only manage a score of 601 – avoiding last place by one point. The former youth Olympian took part in a ranking round, where 64 archers had two halves where they had to shoot 72 arrows to determine their rankings for the single elimination bracket. The result means that Roux will be up against it as he will next face second-placed Kim Je-deok on July 31 in the elimination round as the race for the final kicks off. A first half, first-round score of 48, including 2x10, kick-started the 21-year-old’s Olympic run, and saw off early jitters as all archers shot their best shot with only one target…

Max Verstappen returns to his favourite track seeking to end a run of three races without a win by extending a sequence of three successive Belgian Grand Prix victories at Spa-Francorchamps. Red Bull’s Belgian-born triple world champion cut an unhappy and petulant tone in Budapest last weekend, finishing fifth and peppering the airwaves with swearing and complaints about car and team. The team and their runaway championship leader, now 76 points clear of McLaren’s Lando Norris after 13 of 24 races, will be looking to go into the August break with momentum restored rather than pressure increased. “Hungary was a tricky race and a weekend to forget and move forward from,” said Verstappen, who won 19 of 22 races last year and has not had a run of four races…