Inhoudsopgave van 2025-02-28 - Star

Meeting takes place against a backdrop of foreign aid cuts from both the UK and US The meeting of G20 Finance Ministers and Reserve Bank Governors failed to reach consensus on a joint communiqué, and a chairman’s statement was released instead. This statement resolved to maintain and broaden discussions on concrete policy measures among the member countries and foster cooperation.South Africa's Finance Minister Enoch Godongwana, in a briefing on Thursday, expressed disappointment that consensus for a communiqué could not be reached. He said that similar chairman’s statements were released after the Indonesia meeting in 2022 and in India the following year, when consensus could also not be achieved, although “several new differences emerged on a number of topics” that the ministers could not agree on this year. When questioned about…

Automotive and mobility company, Motus Holdings, has raised its interim dividend by 2% to 240 cents per share for the six months ended 31 December 2024 compared to the previous year, with returns on invested capital decreasing to 10.7%. Over the same period, Motus’ weighted average cost of capital also decelerated to 9.9% while its equity to net debt structure stood at 56%:44% compared to 52%:48% previously. During the half year period under review, headline earnings per share in Motus grew 3% to 681 cents while attributable profit for the period went up marginally by 1% to R1.127 billion. This came despite revenues over the half year period slumping R56.1bn, with earnings before interest, depreciation and amortisation falling by 4% R4bn. Cash flows from operating activities of R186 million for…

To quote Barry Schwartz from his book: “The Paradox of Choice: Why More Is Less”, “On the other hand, the fact that some choice is good doesn’t necessarily mean that more choice is better”. Paradoxically as financial markets and investment products evolve, it has never been easier to invest, yet more complicated to decide on an investment. This “Paradox of Choice” scenario means there are too many investment options that could result in uncertainty or hesitancy in making an investment decision. This sometimes leads to investors not investing at all or being dissatisfied with their investment decisions. However, research has also shown that the more informed or experienced an individual is, the more confident they are in making a decision and prefer having more options. As a result, experienced investors…

When we eat healthy food, we feel healthy. But why is this? How does the food we put in our body have such a huge effect on how we function from day-to-day? According to the Heart and Stroke Foundation South Africa, 80% of cardiovascular disease can be prevented by leading a healthy lifestyle through a balanced diet and exercise routine. Registered dietitian Yuri Bhaga says that the key drivers in reducing risk lie in the choices we make in daily life, namely nutrition, exercise, tobacco and alcohol use and managing comorbidities such as diabetes, elevated cholesterol, obesity and family history. Bhaga says nutrition plays a major role in improving our overall health, dietary habits, food choices and the nutritional quality of what we eat has a profound impact. However, with…

President Cyril Ramaphosa has acknowledged a critical 30-year delay in implementing Early Childhood Development (ECD) programmes. The president's remarks come amid discussions on strengthening foundational learning and improving educational outcomes for 13.5 million South African learners. “The minister is absolutely right when she says we should have started 30 years ago with Early Childhood Development, and if there is any mistake that we have made as a nation and as a government, it is this one...Thirty years ago, we were blindsided. We should have realised that to get this country to be important, on a much higher plane of development, we should have started ECD then,” he said. Ramaphosa was speaking during his opening address of the Basic Education Lekgotla at the Birchwood Hotel, Ekurhuleni, on Thursday, where professionals within…

The turbulent co-parenting plan between Elon Musk and Grimes has recently been making headlines all over the world. Many have been wondering where the couple - who share three children - really stand with one another behind the scenes - and how much child support the richest man in the world pays his ex partner. Canadian musician Grimes, 36, was first linked to Musk in 2018 and in the years that followed, they had three children together - the eldest being four-year-old son X Æ A-12, often nicknamed X. However, the former couple - who also share a daughter, Exa Dark Sideræl, three, and a son, Techno Mechanicus, two - became embroiled in a custody dispute in Texas in 2023 following their split, which has since been settled. In August,…

It’s a massive coup by head coach Rassie Erasmus to bring the experienced Irishman Felix Jones back to the Springboks ahead of the next Rugby World Cup in Australia. The double Rugby World Cup-winning assistant coach is set to reunite with Erasmus and his fellow coaches following a brief tenure in England’s set-up. While Erasmus made a trio of appointments to his Bok staff, Jones’ return garnered the most attention. And rightly so, because the knowledge he’s gained while under England coach Steve Borthwick will become invaluable information for the Springboks going forward. So too the analysis he’s done on the other Six Nations teams, including France, Ireland, and Italy which the Boks will face this year, starting with home Tests against the Azzurri in July in Pretoria and Gqeberha…

In the aftermath of the 31-19 victory over the Lions, Bulls coach Jake White wasn’t entirely happy with the performance, despite his team securing a try bonus point as well. That was an understandable reaction, considering the fact that they were 17-0 ahead in 14 minutes, but then allowed the Lions back into the game to make it 17-14 at halftime. The Bulls confidence would’ve been shaky at that point, as they had lost 29-19 to the Sharks at Loftus Versfeld a week earlier, and had been fortunate to hold off the Stormers 33-32 in Cape Town before that. The Pretoria side, though, pulled off a valuable win against a spirited Lions outfit, and did it with a number of new faces that White had introduced last week. Top of…

It was so nice twice that he decided he wanted to do it thrice. If you have watched Avengers: Endgame, then you will know that, towards the climax of the flick, Captain America stands up wearily. Beaten, bloodied, bruised, and exhausted, he looks over the scarred battlefield at the antagonist, Thanos, breathing heavily. Defeat flashes over his face as he tightens his shattered shield to his arm, ready for his last stand. In that moment of utter despair, his radio crackles to life, bringing the affirmation that help is on its way. What follows is a scene 10 years in the making, as every Marvel superhero at that time rallies to his side. After some heart-stirring cameos and a pulse-pumping score, Cap finally mutters the immortal words: “Avengers, assemble.” Now,…

MTN Group, the telecoms giant grappling with recent woes in Nigeria, expects a steep decline in headline earnings per share (Heps) for the full year ended December 31, 2024, it said in a trading update released on Thursday. The group forecasts Heps to fall between 59% and 79%, in a range of 66c to 129c, down from 315c in 2023. Earnings per share are set to plunge more than 100%, swinging to a loss of 509c to 554c from a 227c profit in 2023. The results are impacted by several external factors including the negative impact of local currency devaluation in 2024, particularly the naira, against the dollar. This included both translation effects and f orex losses in its financials. An additional factor knocking the results is operational challenges…

The market on Thursday welcomed the interim results of KAP, the South African industrial, chemical, and logistics group, even as a R2.5 billion capital expenditure push to drive future growth exerted pressure on its performance for the six months ended December 31, 2024. The shares soared 9.6% to R2.74 by midday on the JSE on Thursday. CEO Gary Chaplin, presenting the results, framed the period as a pivotal moment for the group. “Looking at the results in context, we've completed a major capex cycle, R2.5 billion over and above our normal capex. There were no material delays or overspends in this, and all those projects are fully operational within the six months,” he said “The balance sheet is intact. We are ramping up the sales, and there's an obvious impact…

While global warming is accelerating at a record-breaking speed, resulting in extreme weather events like floods and drought, few South African retirement funds have climate policies in place. The World Meteorological Organisation declared 2024 the hottest year on record, following 10 consecutive years of exceptional land and sea surface temperatures driven by human-generated greenhouse gas emissions. A Financial Sector Conduct Authority (FSCA) survey found that in 2020, only 7% of South African retirement funds had climate change policies, and only 2% were committed to green, climate, social, or sustainability-focused investments. A recent actuarial study also found that South African retirement funds only score 11% in terms of climate-related disclosure and reporting versus an ideal score of 80%. Concerned that South African retirement fund trustees are not factoring the risks…

There is going to be no further extension for late submission of applications for small businesses beyond today’s deadline, said Minister of Co-operative Governance and Traditional Affairs Velenkosini Hlabisa. Hlabisa conveyed the message while interacting with informal traders who were submitting their applications at the City of Tshwane’s registration centre in the inner-city yesterday. He warned that failure to submit applications by today’s deadline will result in illegal operation status as of March 1. “There will be no extension tomorrow (Friday). We are not going to make any recommendation to the president. There was enough time for people to register from the extension made in December up to tomorrow,” Hlabisa said. He, however, said that applicants with outstanding documents can still submit them after the deadline. “There is no need…

ActionSA in Merafong has expressed alarm at ongoing mismanagement, corruption, and lack of accountability highlighted by the Special Investigating Unit (SIU) findings on the R600m AngloGold Ashanti Hospital scandal and the neglect of Khutsong South Clinic. The party slammed the misuse of about R600m on AngloGold Ashanti Hospital, which was intended for urgent Covid-19 care but served only 147 patients. It further alleged that NJR Projects, linked to state capture-accused Edwin Sodi, and several other companies unlawfully profited from the scheme while healthcare services deteriorated. “The AngloGold Ashanti Hospital was meant to provide urgent Covid-19 care, yet only 147 patients were treated despite the astronomical expenditure of R600m. Amongst companies that allegedly unlawfully benefited from this scheme is NJR Projects, linked to state capture-accused Edwin Sodi, alongside several others that…

MINISTER of Justice and Constitutional Development Mmamoloko Kubayi announced last month that the sex offenders register would be published by the end of February. The minister stated there was an urgent need to release the names of sex offenders to help curb violence against society’s most vulnerable groups — women and children. Following a two-year call to make the register available to the public, Bosa acting spokesperson Roger Solomons, sternly said Kubayi has exactly 24 hours to deliver on her promise. “We are now putting the minister on notice, she has exactly 24 hours to make good on her promise and release the list to the public. “Failure to do so, will leave Bosa with no choice but to embark on mass public action to demand accountability and justice,” said…

The City of Tshwane Emergency Services Department (ESD) swiftly responded to the pressing situation after a building at the corner of Marais and Hay Streets in Brooklyn caught fire on Wednesday afternoon. The fire, which was reported to the Emergency Communication Centre (ECC) at about 12:45pm, saw the immediate dispatch of firefighting equipment from several local fire stations to the scene. The ECC sourced equipment at the Hatfield Fire Station, Central Fire Station, Hazelwood Fire Station and Silverton Fire Station. As firefighters arrived on the scene they were met with a fast-spreading fire in one of the apartments on the top floor of the three-storey building. The apartment was fully ablaze, as the fire was quickly spreading through the ceiling to four other neighbouring apartments. Firefighters extinguished the blaze after…

‘GAMES in hand do not translate into points!’ It is a phrase that Orlando Pirates know way too well. However, the same phrase has also been used against Sundowns many times before. After all, they have actually done it – this system of converting games in hand into league-winning points. Come to think of it, they do it so well. Another thing that only Sundowns get right over any other club domestically, when it comes to league games anyways, is securing winning momentum and sustaining it. That is perhaps why hopes of an “interesting season with a tough title race” were raised at the beginning of the campaign. Now, those hopes have since been replaced by that famous phrase about games in hand. Fine, that is fair, because indeed the…

The Proteas find themselves in the unusual position of having not played for almost a week, but yet are on the brink of qualification for the ICC Champions Trophy semi-finals. Temba Bavuma’s team have watched from afar as all the drama has unfolded around them, with most notably Afghanistan knocking out England in a thrilling contest in Lahore. And further in favour of the Proteas is that they will know their exact fate, due to Australia facing Afghanistan on Friday, which could indeed render Saturday’s clash against the already eliminated England in Karachi (11am SA time start) a dead rubber. From what was a potential do-or-die “quarter-final”, it has morphed into quite a let-down for the neutral observer. But after all the drama the Proteas have experienced over the years…

It was at the turn of the millennium when a strongly built left-handed opener took guard for Western Province at Newlands. It was the start of a journey that would see the teenager bloom into one of the Proteas’ greatest batters. For many who sat under The Oaks watching Graeme Smith flick numerous balls off his legs and power pull shots to the boundary, there was a great sense of pride in being able to say they were there from the very start. There was a similar feeling for those present on a balmy Wednesday afternoon at Newlands that they may possibly be witnessing history repeat itself. At 18 years old, Lhuan-dre Pretorius is even younger than Smith was when the former Proteas skipper swapped Gauteng’s hustle and bustle for…

Lions centre Marius Louw was once a proud Shark, and is in a good position to judge the challenge the Sharks will pose at Ellis Park on Saturday (2.30pm kick-off). “The Sharks are a very dynamic team, so we must make sure we control the tempo, whether it is making the game quicker or slower when it suits us. If we can do that, we will be in the pound seats,” the 29-year-old said on Thursday. “It is been a while since I was in Durban (he moved to Johannesburg at the end of the 2022 season) and they have had a lot of changes in personnel, but I still know a few of the guys. “There is always some good banter on the field, but it is amazing to…

Foreign investors have not returned in large numbers to the Johannesburg Stock Exchange (JSE) even though the higher volumes and values of trading that started after the formation of the Government of National Unity (GNU) last year have persisted into 2025. Speaking at the SA Trade Connect Conference that was held in Cape Town on Thursday, JSE chief executive Leila Fourie said the formation of the GNU had been a pivotal moment for the JSE and year-to-date since then there had been a 40% uptick in the value of shares traded. This uptick, which had slowed marginally since the start of the year, had also been boosted by consumer confidence improving following the lowering of interest rates and inflation, and improving GDP forecasts. She said this has also translated into…

A study by The Williams Group, which tracked 3 200 families over two decades, has found that 70% of wealthy families lose their fortunes by the second generation, and 90% by the third. Interestingly, this trend transcends geography and culture, as reflected in the Chinese proverb: “Wealth does not last beyond three generations”, which echoes the American saying “Shirtsleeves to shirtsleeves in three generations”. This is particularly relevant considering that the biggest global transfer of wealth is currently underway. In the coming years, baby boomers are set to pass down more than $68 trillion – that’s more than double the size of the whole US economy. This, however, is not only an American – or developed market – phenomenon, but a global one, affecting wealthy families around the world, including…

After captivating audiences and becoming one of the top 10 most streamed titles on Showmax in 2024, The Real Housewives of Durban is set to return for a much-anticipated fifth season. Fans were given a sneak peek of what’s to come in the reality show’s trailer, featuring a heartfelt moment from OG cast mate, Nonku Williams. In it, Williams opens up by praying for guidance. She reveals that she is not single, but “married” to her lord and saviour, Jesus Christ. “Watch over my mouth, God. Father I repent all my sins,” says Williams. Later, she is seen cussing at the ladies. Alongside Williams, fellow original cast member Sorisha Naidoo will also be returning, maintaining their status as Africa’s longest-serving Housewives. Jojo Robinson, who joined in season 2 and Angel…

Pepfar-funded HIV organisations receiving grants from the United States Agency for International Development, USAID, received letters yesterday alerting them that their grants have been terminated permanently. Pepfar, the US President’s Emergency Plan for Aids Relief, saves lives, prevents millions of HIV infections, and supports several countries to achieve HIV epidemic control. Since Pepfar’s inception in 2003, the US government has invested over $100 billion in the global HIV/AIDS response, saving over 25 million lives, preventing millions of HIV infections, and supporting several countries to achieve HIV epidemic control. Pepfar partners with and strengthens the capacity of civil society and communities, including faith-based communities and organisations, recognising that successful and sustainable HIV/AIDS interventions must involve, be informed by, and be tailored to those whom it serves. USAID funded 44 health projects…

The leaders of lobby groups AfriForum and Solidarity have come under intense scrutiny following their recent meeting with members of the Donald Trump administration in the US. On Tuesday, they urged officials to impose punitive actions against leaders of the African National Congress (ANC) while advocating for the rights and interests of Afrikaners in South Africa. Kallie Kriel, the chief executive of AfriForum, revealed that their audience at the White House stemmed from frustrations with the South African government's refusal to address their concerns. He asserted that White House personnel were 'well-versed in South African affairs' and suggested that they are challenging the government's narrative surrounding farm killings — an issue that has inflamed tensions in the country. AfriForum believes the Expropriation Act undermines private property rights. The backlash…

The City of Tshwane's multiparty government has successfully passed an adjustment budget for the 2024/2025 financial year amid criticisms by the DA that the budget favours water tankering contractors and security company owners doing business with the metro. This took place during an ordinary council sitting at Tshwane House on Thursday. The criticism comes after the DA raised concerns this week about Deputy Mayor Eugene Modise's past ties to a security company that currently has contracts with the municipality. Modise, who doubles as Finance MMC, has since resigned from a company called Triotic Protection Services. The company was awarded the security tender in the 2016/2017 financial year and it is under the ownership of Modise’s mother, Nelly Modise, and its director is Neo Mafodi, who “is allegedly the mother of…

Kaizer Chiefs defender Edmilson Dove is feeling a sense of gratitude after coming out of the medical room to be ready for his team’s crunch game on Saturday. Chiefs will visit log leaders and champions Mamelodi Sundowns in the Premiership at Lucas Moripe Stadium in Atteridgeville (3.30pm kick-off). And given that Sundowns have been pulling away in the title race, with their only blemish being two losses in 19 games, Chiefs need to be at their best for this showdown. However, coach Nasreddine Nabi received a bit of good news this week as Dove returned to full training since being sidelined with an injury during pre-season. The Mozambican international couldn’t hide his excitement to be back at training following the daunting spell in the medical room. “It hasn’t been an…

Miguel Cardoso has kept it real since his arrival at Mamelodi Sundowns. As such, he didn’t hold back yesterday afternoon, lauding his counterpart Nasreddine Nabi. Cardoso arrived at Sundowns late last year under heavy scrutiny, thanks to his underwhelming CV and inability to last at his previous gigs. But the Portuguese has been quick to make his naysayers eat humble pie, having his blemish been three losses and one draw across all competitions. That run, which has seen them climb to the top of the Premiership log and reach the CAF Champions League and Nedbank Cup quarter-finals, has shown a fighting side of Cardoso. He has spoken out on issues such as players resting on their laurels, the poor pitch conditions of the stadiums and the congested schedule, among other…

Benni McCarthy has always been a national treasure, and that’s why his imminent appointment as the coach of the Kenyan national team puts the country on the map. McCarthy landed in Nairobi on Thursday morning alongside his old friend Moeneeb Josephs, who’s set to be his goalkeeper coach. The 47-year-old is set to be unveiled by the Football Kenya Federation on Friday as the new coach of the Harambee Stars, while his full backroom staff will be announced soon. McCarthy will become the latest SA-born coach to head up a national team on foreign soil, having seen most of his peers moving to other countries for club football. That shouldn’t be surprising. The discerning observer and astute football person will tell you that McCarthy has always been a pioneer of…