Inhoudsopgave van 2024-11-11 - Star

As the South African marketplace becomes increasingly cutthroat amid economic challenges, a concerning trend is emerging: companies are increasingly adopting unethical marketing practices to gain a competitive edge. Recent findings by the Advertising Regulatory Board (ARB), alongside court decisions, reveal a disconcerting rise in the imitation of established brands, along with a slew of misleading advertising tactics. ARB CEO Gail Schimmel told Business Report last week that the body was seeing a slight increase in complaints about imitation and exploitation of goodwill. This, she said, was partially due to more confidence in the board, but also a growing move towards unethical advertising in the marketplace. “There does seem to be an increase of this behaviour in the marketplace. The increase in the marketplace is partly due to an increase in…

Previous Trump administration was perceived as antagonistic to free trade agreements As the dust of political uncertainty settles around Donald Trump reclaiming the White House after the US election, investors and foreign policy and international trade analysts have said that South Africa stands at a unique crossroads with opportunities and challenges under the forthcoming US administration. Trump ran his entire campaign on implementing aggressive tariffs on imports, deregulation, and promised corporate tax cuts as well as a transactional approach to international relations. Rashaad Tayob, macro strategist and portfolio manager at Foord, said on Friday that there were serious trade implications for South Africa under the Trump presidency. “With 10% of South African exports going to the US, new tariffs could affect trade under the African Growth and Opportunity Act (Agoa),”…

Operating losses in Eastern Platinum (Eastplats) widened to $5.7 million (R105m) in the third quarter period to the end of September despite a decrease in finance costs and foreign exchange rate gains, although the company had a working capital deficit of $26.6m. The company, which has a secondary listing on the JSE, saw its operating loss widen for the period from $3.6m recorded in the 2023 comparative same period. Over the year to September 2024, Eastplats’ operating loss however lowered from $15.8m to $4.1m. This translated to Eastplats’ net loss attributable to equity shareholders of $3.4m for the period compared to a net income attributable to equity shareholders of $3.1m for the same period in 2023. “The decrease in Q3 2024 net income was largely attributable to lower chrome…

The National Energy Regulator of South Africa (Nersa) has initiated a public consultation process for Eskom’s proposed Retail Tariff Plan, introducing significant changes aimed at ensuring customers pay only for the electricity costs they incur. This move responds to the evolving landscape of the electricity supply industry and prioritises affordability, fairness, and transparency for all consumers. In a statement on Friday, Eskom Group executive for distribution Monde Bala emphasised the importance of broad stakeholder engagement. “The electricity supply industry is undergoing fundamental changes that will set the course for economic growth and prosperity in the years ahead,” Bala said. “It is therefore vital that as many stakeholders as possible engage with Nersa on the proposed changes to support the determination of tariffs that are as fair as possible for all…

Rico Immelman, a rising star in South African television, has been cast as the lead in the groundbreaking Afrikaans series Spooksoeker, where his character Warno battles ghosts in his small town. The Showmax Original, which will premiere next month, is based on the best-selling young adult novel of the same name by multi-award-winning author François Bloemhof. The 17-year-old Grade 11 pupil from Noordheuwel High School in Krugersdorp in Gauteng has featured in productions such as 2022’s The First Last Tour as well as the kykNET show, Die fantastiese verdwyning van Charlie Prins. He also attended the 60th ATKV Tienertoneel in Cape Town in September, a renowned Afrikaans high school theatre competition. As one of the finalists in the ATKV-DigiToneel competition, in which high school students get the opportunity to develop…

Foreign competition fuels deadly fears in Bophelong Well-known spaza shop owner and an advocate for local entrepreneurs, Thabiso Maphike, 54, has been shot and killed in what his family and community members suspect to be a targeted assassination related to his business activities, in Bophelong township, near Sharpeville, on Friday. His death comes just months after he survived an assassination attempt in January, where he was shot at 14 times but miraculously survived after sustaining a gunshot wound to his leg. Maphike is not the first business owner in the province to be killed in similar circumstances this year. In February, Happy Nyawuza was killed inside his shop in Ratanda. His death came shortly after the deaths of Nkosinathi Phillip Etienne Ngondo, Mandla Ncoco, Moeketsi Mollo, as well as Patrick…

Police have seized counterfeit items and arrested 24 Pakistani nationals in a raid at a shopping centre in Fordsburg, Johannesburg. South African Police Service (SAPS) spokesperson, Lieutenant Colonel Amanda van Wyk, said 23 of the accused face charges of contravening the Immigration Act while another Pakistani national was arrested for dealing in counterfeit goods. Over 8 000 counterfeit items, including cellphones, cellphone accessories, and electronics, were confiscated on Friday. “The take-down was led by the National Counterfeit Goods Unit joined by the Gauteng Provincial Counterfeit Goods Unit, SAPS’ Operational Response Services (ORS), Department of Home Affairs, South African Revenue Services (Sars), Customs, Independent Communications Authority of South Africa (Icasa), brand protectors and crime prevention wardens,” she said. In July, police seized counterfeit goods valued at over R8m and arrested 18…

Expelled uMkhonto weSizwe (MK) Party founder Jabulani Khumalo has bluntly called advocate Dali Mpofu a “liar” and a “party hijacker” who is trying to rewrite the origins of the MK Party. In an interview with BizNews, Khumalo refuted Mpofu’s claims that he was involved in forming the MK Party. This comes after Mpofu revealed on Thursday that he and former president and now leader of MKP Jacob Zuma had planned the MK Party from 2022. “Maybe he is talking about the formation of uMkhonto weSizwe veterans, maybe he was a part of that but not this one. The MK Party was formed by myself and other six comrades who I was consulting with when we wanted to start the registration of the party,” he said. Khumalo said Mpofu only came…

Freddie Nyathela of the South African Roadies Association, who has been accused of unrelentingly attacking and publicly slandering the National Arts Council of South Africa and management on social media platforms, will not go to jail at this stage. The Gauteng High Court, Johannesburg, earlier ordered Nyathela’s incarceration for 60 days, as it was said that he had contravened an order which interdicted him from slandering the arts council on social media and other platforms. The arts council, in an urgent application, asked for his imprisonment, as it said he continued with his social media campaign. However, Nyathela has now filed an application for leave to appeal the order that committed him to prison for contempt of the previous court order. This placed the order committing him to jail on…

As the festive season approaches, music lovers are gearing up for an unforgettable experience at the seventh instalment of the Mahika Mahikeng music festival, slated to electrify the Mmabatho Stadium from December 5 to 8. With a stunning line-up featuring South African icons such as Lira, Thandiswa Mazwai, Zonke, Mandisi Dyantyi, Mi Casa, and Bongo Maffin, this year’s festival promises to be bigger and better than its predecessors, captivating over 41 000 music lovers. The annual festival of music, art, and food attracts crowds with its diverse blend of genres, from jazz to hip hop, while also serving as a vibrant celebration of Bokone Bophirima’s rich heritage and culture. Shuping Sebolecwe, spokesperson for the North West provincial Department of Arts, Culture, Sports and Recreation, emphasised that Mahika Mahikeng transcends mere…

Scotland (9) 15 Penalties: Russell (5) South Africa (19) 32 Tries: Mapimpi (2), T du Toit, Jasper Wiese; Conversions: Pollard (3); Penalty: Pollard It was clumsy and uneasy on the eye for long periods, but the Springboks had too much class over the full 80 minutes to close out their game against Scotland last night, winning 32-15. The last 10 minutes saw a complete momentum shift as the slow poison of 15 forwards out of the match 23 bit into the tiring Scots. The match-defining moment came eight minutes from time when yet another Springbok scrum penalty allowed Handre Pollard to kick his team into a ten-point lead. Scotland have been a team on the up for some time under the inspirational Gregor Townsend, yet they have remained “nearly men”…

The Foschini Group (TFG) saw markedly strengthened gross profits in the face of tough trading conditions in all territories in the six months to September 30 on the back of weak top-line growth. Things started to look up post the interim period. However, in the five weeks thereafter, TFG Africa sales growth was up 8.3% compared to 0.1% decline for the interim period, while both London and Australia businesses posted stronger growth. The share price gave up 2.53% to R143.15 on Friday after the release of the results – the price is nevertheless up 40.3% over a year. Echoing the weak top-line growth of peers such as Truworths, mainly due to lower consumer disposable incomes, TFG’s revenue increased by only 0.6% in TFG Africa in the six months, and was…

With the market having rallied strongly coming out of the South African elections, a lot of good news has now been discounted in share prices and valuations. Fresh in investors’ minds would be the experience from Ramaphoria where optimism faded as earnings and cash flows disappointed, with the market realising that an expected improvement in fundamentals did not materialise. With a focus on the industrial sector, we outline our thinking on which stocks are likely to start realising the benefits of the new dispensation earliest - as opposed to those whose upside is more long dated. We also look at which businesses are most geared to a stronger local economy, thus benefiting the most - though that upside may be long dated, requiring more patience. The early birds: Much like…

South African equity prices continue to weaken for the second consecutive week. Global share markets were uncertain and mostly negative at the beginning of last week as they awaited the results of the US presidential election and the interest rate decision by the Federal Open Market Committee of the US Federal Reserve last Thursday. Investors discounted the effect on the South African economy and risky assets with the possibility that Donald Trump might win. Concerns for South Africa’s economy and its trade and political relations with the US became more pronounced as Trump's win seemed increasingly likely. South Africa’s position under the African Growth and Opportunity Act (Agoa) became a point of concern, alongside broader political relations between Washington and Pretoria, given South Africa’s recent alignment with Russia and…

Delta Corporation, Zimbabwe’s leading brewer and soft drinks manufacturer, has reported mixed results for its interim period ending September, reflecting the significant challenges posed by exchange rate volatility, electricity shortages, and fluctuating commodity prices such as platinum and copper. The effects of these issues have been particularly pronounced in both Zimbabwe and Zambia, where the firm has operations and where economic conditions remain precarious. Zimbabwe and Zambia are big producers of platinum and copper, respectively. Prices of the two metals have been volatile over the six month period to end September, impacting the earnings potential of the company. Moreover, the two markets are undergoing severe electricity supply deficits while their respective domestic currencies have been volatile. In Zimbabwe, Delta Corp said while the exchange rate for the Zimbabwe Gold unit…

Mzansi Magic has pulled the plug on two beloved local telenovelas. The channel has announced that Umkhokha: The Curse and My Brother’s Keeper will be ending next year as part of its “strategic evolution”. “Mzansi Magic is embracing an exciting new chapter as it opens its doors to new producers and production houses, with the aim of delivering more compelling and innovative local content,” Shirley Adonisi, the director of local channels at M-Net, said. Umkhokha: The Curse, which revolves around the fight to take over the leadership position of one of the biggest churches in KwaZulu-Natal, is expected to come to an end in February. Starring Deli Malinga, Sibonile Ngubane and Gcinile Nkosi, among others, it began as a 13-part series and quickly captivated audiences, prompting its transformation into a…

Some of South Africa’s top acting talents feature in the new dark comedy, The Mabaso's Family Reunion. The Netflix series, which will premiere on November 23, stars acting veteran Jerry Mofokeng and Bonko Khoza, who earned rave reviews for his roles on Heart of the Hunter and Red Ink. They are joined by Blood & Water star Natasha Thahane as well as Lerato Mvelase and Thulani Mtsweni. The new show centres on four siblings who are reunited in their hometown to bury their deceased mother. Chaos then ensues as they receive a life-altering surprise in a mysterious box on the day of the funeral. Netflix South Africa also recently took to social media to announce the release of the series as well as its illustrious cast. The show is produced…

Fresh from being appointed as the new secretary-general of uMkhonto weSizwe (MK) Party, former EFF deputy president Floyd Shivambu has outlined his ambitious vision for propelling the party to the forefront. Speaking yesterday, Shivambu stated that his goal is to convince South Africans that the MK Party is their preferred choice, with the ultimate aim of securing a two-thirds majority to shape parliamentary decisions. “We are not in the process of recruiting leaders of other political parties, but if they come, we are going to welcome them. The people that we are recruiting are the people of South Africa, who are the voters out there. “These are the people who are going to give the MK Party the two-thirds majority in the 2029 general elections. Those are the people that…

In a powerful testament to the enduring bond between mother and child, the Department of Social Development (DSD) facilitated the reunion of Dineo Monaheng* and her daughter Thandi*, 22 years after they were separated by adoption. This heartwarming moment took place on October 5 at the department’s Pretoria offices. Twenty-two years ago, Monaheng made the heart-wrenching decision to place her infant daughter up for adoption, feeling she could not provide the life she wished for her child. Monaheng spent two decades praying that one day she would be reunited with her daughter. That prayer was answered when she received a call from social worker Ndivhuwo Randela earlier this year informing her that her daughter, who had been adopted by a loving family in the Netherlands, had been searching for her.…

THE government’s failure to plan for the future and fulfil its plans of increasing the capacity of its water resources has placed the supply of water in Gauteng under strain. A report the Institute of Race Relations (IRR) compiled has warned that more than 15 million residents who call the province home could see their taps run dry. It said that would spell disaster for the province and the country’s economy. The province, amid a growing population and economy, which is also driving up demand, is facing water security challenges. Gauteng’s primary source of water is the Vaal Dam. The lack of rainfall has left South African dams parched and water supply inconsistent, with the Vaal Dam suffering the most in the region. According to the Weekly State of Dams,…

Those without money are often unable to access justice. These are the views of Brian Molefe, a former CEO of Transnet and current Member of Parliament for the MK Party. Since being implicated as a major architect of state capture at Transnet, a narrative he has strongly disputed, Molefe questioned the existence of justice in South Africa. In a stark revelation during a recent interview with Sizwe Mpofu Walsh on his podcast, Molefe voiced a poignant critique of South Africa’s judicial landscape, particularly for its underprivileged citizens. Molefe lamented the disparity faced by those with limited financial resources in their pursuit of justice, stating: “In South Africa, we don’t have courts of justice. We have courts of law. People don’t go to court to get justice. They go to court…

As the world embraces the spirit of Singles Day, holistic wellness coach and Eco Diva Natural founder Nicole Sherwin invites individuals across the spectrum of relationship statuses to embrace this day as a celebration of self. Sherwin asserts that Singles Day marked on November 11, is an ideal opportunity for individuals to engage in self-exploration, regardless of whether they’re single, in a relationship, or somewhere in between. “This is the perfect excuse to dive deeper into self-love,” says Sherwin. “Take this chance to uncover your passions, uncover your dreams, and reconnect with those unique qualities that make you, you.” If you are single, make self-love a priority For singles, this day signifies a chance to revel in your own company. Sherwin advocates for taking this time to reflect on what…

Compagnie Financière Richemont was one of the biggest downward movers on the JSE on Friday following the release of financial results that showed its interim profit had fallen a fifth. The share, a favourite among institutional investors, closed 5% lower at R2 417.94, making it one of the top five major declines on the JSE on Friday. The share is little changed from the R2 200.00 that it traded at on the JSE a year previously. Interim results for the Switzerland-based group, which is chaired by South African billionaire businessman Johann Rupert, showed that profit from continuing operations fell 20% to €1.73 billion (R32.6bn) from €2.16bn. Also, in a reflection of the tough markets worldwide where consumers have seen disposable incomes pared by high interest rates and inflation, low growth…

As the global community grapples with the escalating climate crisis, the International Renewable Energy Agency (IRENA) has issued a stark warning at the opening of the UN Climate Conference COP29 in Baku, Azerbaijan. IRENA’s latest report released on Friday, the World Energy Transitions Outlook 2024, outlines a significant CO2 emission gap that remains despite existing political commitments towards achieving net-zero emissions by mid-century. The report’s 1.5°C Scenario emphasises that even if all pledges made to date were fully implemented, substantial challenges necessitate drastic changes in energy transition strategies. Francesco La Camera, IRENA’s director-general, articulated the urgent stakes. “We have reached crunch time. A robust global finance deal and the next Nationally Determined Contributions (NDCs) in 2025 are ‘make or break’ moments to keep 1.5°C alive,” La Camera said. “NDCs 3.0…

The recent deaths of 12 children from poisoned food in Gauteng, the 2022 Enyobeni Tavern tragedy that claimed 21 young lives, and the 2022 Pongola crash that killed 19 students were all preventable catastrophes. They are symptoms of a broader, systemic issue—an indictment of the policies of SA Inc. A 2020 report by Statistician-General Risenga Maluleke, titled Child Poverty in South Africa: A Multiple Overlapping Deprivation Analysis, points directly to the root of these tragedies: growing poverty across South Africa. Though based on data from the 2015 Living Conditions Survey (LCS), conditions have only worsened. Between 2011 and 2016, multidimensional poverty rose in 82 of the country’s 252 municipalities, leaving more and more young people in conditions of acute deprivation. For youth aged 15-34, multidimensional poverty is especially stark, driven…

Huge Group grew net asset value per share 2.6% to 983.73 cents in the six months to August 31 on the back of generally solid performances from its portfolio investments in the branded mobile and telecoms sectors. Operating profit increased 17.8% to R33.45 million from R28.39m. Headline earnings were up 17.3% to R19.3m. No dividend was declared by the company that owns portfolio investment companies (PICs) in the connectivity, voice, SD-WAN management, connectivity aggregation, cyber security, PBX, cloud, and hosting services and products segments. “We are proud we have built a defensive portfolio that has shown resilience in a very challenging environment, and we are pleased with the progress made by our PICs in the evolution of our investment ecosystem, as we position it for sustainable near-term and longer-term growth,”…

Three people have been charged and arrested in connection with the death of One Direction singer Liam Payne after an investigation discovered “illicit conduct” from those individuals, according to Argentina’s National Criminal and Correctional Prosecutor’s Office. The Strip That Down singer died on October 16 after falling from the third floor of his hotel room at the CasaSur Palermo hotel in Buenos Aires. An investigation was launched immediately after his death. One of the accused individuals, described as someone who accompanied Payne daily while he was visiting Buenos Aires, was charged with crimes of abandonment of a person followed by death, prosecutors said. In addition, a hotel employee was accused and charged with supplying Payne with cocaine twice while at the hotel and the third individual was accused of supplying…

In a provocative address aimed at the Minister of Public Works, Dean Macpherson, Andile Mngxitama, Member of Parliament for the MK Party, has made serious allegations against Jean du Plessis, an executive at SKG Africa. The Department of Public Works and Infrastructure (DPWI) has been accused by Mngxitama of being corrupted by Du Plessis through questionable contracts that have allegedly disproportionately benefited his company. SKG Africa, based in East London, is involved in various sectors including property development, information technology, property investment, and management services. Mngxitama’s assertion is not new; earlier this year, his party, the Black First Land First (BLF) movement petitioned former public works minister, Sihle Zikalala, along with Deputy Director- General Richard Sizani, to investigate the awarding of tenders to SKG Africa – allegations he said…

TWO Freedom Front Plus (FF+) Gauteng provincial legislature members have proudly disclosed their links to the whites-only enclave Orania in the Northern Cape. This was revealed in the 2024/25 register of the members of the provincial legislatures’ (MPLs) interests, in which they declare directorships, gifts, properties and remuneration from employment outside the legislature. FF+ MPL Jaco Mulder, the chairperson of the legislature’s portfolio committee on environment, agriculture and rural development, declared a stand in Orania. His colleague, advocate Anton Alberts, declared 110 ordinary shares, valued at R11 000, in Orania’s Oranjekas Spaar en Kredietkoöperasie (OSC) bank. Alberts, the chairperson of the portfolio committee on economic development, indicated that he was a director of the OSC. Environment MEC and Patriotic Alliance (PA) MPL Sheila Mary Peters declared nine houses, three of…

THE SA Municipal Workers Union (Samwu) in Tshwane has made allegations that there is a plot hatched by some people at the City of Tshwane to collapse the labour union at the Tshwane Bus Service (TBS). The allegations by the union were made public in the wake of the dismissal of 33 TBS bus drivers affiliated with Samwu for taking part in an illegal strike in May. The affected workers embarked on a protest against the decision to fire them on Thursday and Friday, resulting in the interruption of bus operation and commuters left stranded. Regional Samwu chairperson Ngwako Mathabathe said: “We are aware that there are people carrying out a mandate of collapsing Samwu at the TBS.” He said workers implicated in an illegal strike were from both Samwu…

India: 124/6 Hardik Pandya 39*; Aiden Markram 1/4 South Africa: 128/7 Tristan Stubbs 47*; Varun Chakravarthy 5/17 South Africa won by three wickets with six balls to spare In a nail-biting encounter at St George’s Park, the Proteas staged a thrilling comeback yesterday, defeating India in a anxious victory to level the T20I series at 1-1. A heroic, unbeaten 47 runs off 41 balls from Tristan Stubbs and Gerald Coetzee’s unbeaten 19 runs off nine balls saw South Africa chase down the 125 runs set by India with an over to spare. The Proteas’ run chase was flawed throughout as leg-breaks Varun Chakravarthy (5/17) and Ravi Bishnoi (1/21) brought the recent horrors of the Tour of the UAE to South Africa: As the Proteas batters were absolutely dominated by…

Chelsea and Arsenal shared the spoils in a tense and at times bruising 1-1 battle at Stamford Bridge last night, keeping the London sides level in the Premier League, but still nine points adrift of leaders Liverpool. Gabriel Martinelli put the visitors in front in the 60th minute, turning in a neatly lifted ball from captain Martin Odegaard, whose influence on his return from injury proved crucial after the Gunners' failure to score in their last two games. Chelsea equalised 10 minutes later when substitute Enzo Fernandez pushed the ball to the ever-lively Pedro Neto just outside the Arsenal area. The Portuguese stepped to one side and shot low to David Raya's left. The result lifted Chelsea to third and Arsenal to fourth in the table, both on 19 points.…