Table of contents for 2023-01-13 in Cape Times

THE number of exchange-traded products (ETPs) listed on the JSE is growing, particularly now that actively-managed portfolios are also accommodated, and industry players are predicting further expansion in the number and variety of products available in South Africa. The number of ETPs listed on the JSE rose from 168 at the end of 2021 to 183 at the end of 2022, according to etfsa.co.za statistics. Part of the growth was the introduction by the JSE of two new categories in October last year. These include actively-managed exchange traded funds (AMETFs) and actively-managed certificates (AMCs). The former allowed issuers and portfolio managers to use actively-managed strategies to provide a return for the investor, instead of passively tracking an index, or other type of asset. The latter are non-interest-paying debt instruments –…

A FAMILY man, a person with integrity, intelligent and loyal to the vision of transforming the University of Fort Hare (UFH) until the end. This is how the UFH community remembered slain Mboneli Vesele. The university held a live-stream memorial service for Vesele yesterday, who was the executive protection officer for UFH vice-chancellor Professor Sakhele Buhlungu, at the Alice campus in the Eastern Cape. A sombre mood filled the auditorium, with one Vesele’s five grieving children having to be escorted out of the venue due to high emotions. The day also proved to be hard for his security colleagues, with some deciding to stay outside. His widow, family, the UFH executive committee, staff, Student Representative Council and other dignitaries were also present. Vesele was a former defence force soldier,…

RESIDENTS have been urged to play an active role during load shedding by turning off their appliances to minimise chances of extended outages. MMC for utilities and regional operations in Pretoria, Daryl Johnston, made this plea to residents following this week’s announcement to ramp-up load shedding to Stage 6 by Eskom, which meant that residents would experience rotational power outages for at least two or three times a day. According to Johnston, appliances that are switched on cause the power to trip minutes after it has been restored, causing extended outages in some areas. He said residents should make sure they don’t have energy-intensive appliances on during peak times, particularly in the evening from 6pm to 9pm. “Please turn off your appliances during load shedding, leaving only a light on…

A CHILDREN’S rights and anti-GBV organisation says it is deeply concerned about teachers violating the rights and dignity of pupils by means of sexual violations. This comes as a former teacher, David Price, 76, who had taught at the Western Province Preparatory School in Cape Town, is accused of sexual assault, and will have to answer to charges in a South African court for sexually abusing a pupil nearly 40 years ago. Price has been hauled before a South African court after he reportedly challenged his extradition to the UK on similar charges. Ilitha Labantu spokesperson, Siyabulela Monakale, said: “We are deeply concerned by cases of this nature, where educators violate the dignity of students. Cases of this nature occur far too often, and the perpetrators who commit these heinous…

THIS month, Exclusive Books is celebrating Reading as a Superpower and books as a supercharged device to help people handle anything that comes their way. “In years gone by, we would begin the new year with a sparkle in our eyes and a certain gung-ho spring in the step. This year, 2023, marks a return to that, with a healthy dose of ‘cautious optimism’ – assessing and auditing what we have, galvanising energies and building on strengths to make us strong and battle-ready for whatever comes our way, curved balls and all,” says Exclusive Books Marketing, Loyalty and Procurement general manager Batya Bricker. “Getting yourself ‘fit for purpose’ – healthy, well-tuned, focused and motivated – has never been more important. The best and most assured investment remains the investment in…

All depends on whether a chastised president can regain a semblance of authority AS SOUTH Africans face the stark reality of yet another year of hardship, endless load shedding, rising prices and a cost-of-living crisis under the stewardship of the only government they have known since the onset of democracy in 1994, their political master, the ANC government, is hedging its fortunes and whatever goodwill it has left on the seamless aspiration of hope. Judging by the Christmas message of Deputy President David Mabuza and the New Year message of President Cyril Ramaphosa, there were bucket loads of the stuff. “As a country, we should not lose hope because we have the skills and potential to deal with the social and economic challenges we face. What we need more than…

Senegal: Fourteen Malian soldiers were killed in a clash with jihadists this week, the army said yesterday, giving a new toll. Fighting erupted when an army unit was hit by roadside bombs between the towns of Mopti and Segou in central Mali. In a statement yesterday, the army said 14 soldiers died and 11 were wounded, while 31 “terrorists” were killed. On Wednesday, army and police officers, speaking on condition of anonymity, said at least 12 soldiers had died. Mali is in the throes of a nearly 11-year-old security crisis triggered by a regional revolt in the north that developed into a full-blown jihadist insurgency. The insurgency spread to Niger and Burkina Faso in 2015 and has been followed by sporadic attacks on countries to the south, along the Gulf…

WASHINGTON/CHICAGO: US airlines said they were expecting operations to return to normal yesterday, as the Federal Aviation Administration (FAA) scrambles to pinpoint the cause of a computer outage that grounded flights nationally and to prevent it from happening again. However, 577 US flights were delayed and 76 were cancelled as of early yesterday morning, according to FlightAware. More than 11 300 flights were delayed or cancelled on Wednesday in the first national grounding of domestic traffic in about two decades. Delta, United, American Airlines and Southwest said that they expected normal operations yesterday. The FAA computer failure prevented airports from filing updated safety notices that warn pilots of potential hazards such as runway closures, equipment outages and construction.…

Steinhoff International’s European discount retailer Pepco Group said yesterday that first-quarter revenue had increased after a successful Christmas trading period, and that the opening of new stores would be accelerated. In its first-quarter trading announcement, Pepco Group, owner of the Pepco and Dealz brands in Europe and Poundland in the UK, said group revenue for the first quarter increased by 27% to €1.65 billion (R30.1 billion) on a constant currency basis, up 24% on an actual basis. Pepco said group like-for-like sales climbed by 13% on a constant currency basis, with all brands delivering strong growth. This included like-for-like increases of 4.4% and 19.7% respectively for Poundland and Pepco. According to the group, of which Steinhoff owns 79%, it opened 105 new stores in the quarter and remains on track…

So I had to start with the R350 I had. I bought the meat and I made half a pot of akhni, it was a 30 litre pot.” Abbas had learnt cooking from his father. After selling out within an hour, he was back the following week to sell again. “The following week I sold out again. I was worried because Ramadaan was approaching and I thought business would be quiet, by then I was on a 120l pot of food. “To my surprise, Ramadaan turned out to be busier and I sold out again. I learnt during this time, you actually sell triple the amount of food because people come from outlying areas to Gatesville on a Saturday to buy their groceries.” Today, his business has helped him buy…

While the Department of Higher Education and Training has assured that the late release of matric results will not affect the state of readiness for the 2023 academic year, at least one KwaZulu-Natal university said registration for first-years would have to be processed in a two-week period. Quality assurance council Umalusi said the late release of matric results was due to the Covid-19 pandemic, which had affected the school calendar. Noxolo Memela, a communications manager at the Durban University of Technology (DUT), said the delay in releasing the class of 2022 matric results had impacted on the time frame for registration. “It will only allow us to have two weeks to complete the 2023 first year registration, which will be between Monday, January 23 and February 3.” Memela added that…

HOW will we cope? That is how founder of the group Electricity Tariffs Must Fall Natasha Selbourne reacted to the National Energy Regulator’s (Nersa) decision to allow Eskom to increase tariffs by 18.6% for the 2023/2024 year, which will come into effect from April. “Nersa has approved a total revenue of R300bn for the 2023/24 financial year, which translates to a tariff of 173.80c/kWh. The percentage increase is 18.65% based on Nersa’s approved tariff of 146.48c/kWh in the 2022/23 financial year,” the regulator said. For 2024/25, the Nersa-approved revenue is R334bn, which translates to a tariff of 195.95c/kWh, resulting in a 12.74% increase. “Eskom's application for the 2023/24 financial year’s revenue is R351bn, including Regulatory Clearing Accounts (RCAs) and court orders. Nersa's approved allowable revenue is R318bn after considering adjustments…

IN JUST less than a month, Garlandale Primary School in Athlone was targeted by vandals who stole tools used to upgrade the library, leaving wiring damaged. This has prompted the Western Cape Education Department (WCED) to appeal to communities to be the ears and eyes of their schools by reporting unusual activity. The latest break-in comes just days before the school reopens for the 2023 academic year. Western Cape Education Department (WCED), spokesperson Unathi Booi said yesterday that these incidents were a setback to the school’s efforts to refurbish the library for the benefit of the learners. “I can confirm a burglary at Garlandale Primary School. The break-in at the school’s library was discovered on Tuesday morning, January 3. Lights were stolen. “A previous burglary took place during the…

Wilderness Search and Rescue (WSAR) teams assisted police to recover the body of a 58-year-old tourist from Table Mountain this week. Dedicated teams of professionals and volunteers from WSAR along with SAPS recovered the body of a fallen hiker on Wednesday. “A WSAR team numbering more than 20 personnel were transported to the top of Table Mountain with the assistance of the Table Mountain Aerial Cableway. “The team hiked across the top to an area near the Ledges route on Table Mountain’s eastern table,” WSAR said. Once on scene, members abseiled down to the fallen hiker and packaged him into a stretcher. Once secured, the team carefully raised the man’s body to the top of a cliff. The Western Cape Department of Health EMS/Air Mercy Service (AMS) rescue helicopter was…

Karen Rose Loot.co.za (R207) Headline Book Publishing THE truth of what happened that night lies with a secret witness. “Quarter to Midnight” is the first thrilling novel in a brand new series by Karen Rose, set in New Orleans. Rocky Hebert walks into his death at quarter to midnight one New Orleans night. His son Gabe cannot accept the official verdict of suicide and enlists the help of the Burke Broussard Private Investigation Agency to discover the real cause of death. PI Molly Sutton knows what it’s like to lose a father in tragic circumstances and will go to any lengths to crack the investigation, as she tries to fight off her growing feelings for Gabe. They soon realise Rocky was working on an investigation of his own, one that…

COVID-19 is bad enough, but it’s not the only virus overpowering our nation. It’s not life-threatening, and although we don’t suffer physical afflictions except some acute diarrhoea, the moral fibre of the community-at-large is being slowly but surely eroded. The main symptom is deep depression. Unlike Covid-19, scientists can’t come up with a vaccine for what I call Crime A1. I toyed with the word Barbaric A1, but I fear being called racist. When do the symptoms kick in? Each time you read of or view a crime report in which perpetrators have committed acts of violence with the sole intent of destroying property earmarked for enriching lives in struggling communities like schools. In the latest one, vandals – not finding luxury items normally associated with richer institutions (this was…

THE United Arab Emirates said yesterday the head of state oil giant Abu Dhabi National Oil Company would lead this year’s COP28 climate summit, fuelling activists’ worries that big industry is hijacking the global response to the environmental crisis. Sultan al-Jaber, also UAE’s minister of industry and technology and its climate envoy, will help shape the conference’s agenda and intergovernmental negotiations to build consensus, his office said in a statement. The UAE, a major Opec oil exporter, will be the second Arab state to host the climate conference after Egypt in 2022. Campaigners and some delegates criticised COP27, saying fossil fuel producers had watered down emission reduction ambitions and benefited from sympathetic treatment from Egypt, a natural gas exporter and frequent recipient of Gulf funds. The Egyptian presidency denied that.…

SOUTH African consumers will be paying a cumulative 33.8% more for electricity consumption over the next 2 years, after the energy regulator granted Eskom its tariff hike application, in spite of the floundering energy supply. The National Energy Regulator of South Africa (Nersa) yesterday granted Eskom a 18.65% electricity tariff increase for the 2023/24 financial year, starting on April 1, and 12.74% for the 2024/25 financial year. Nersa announced its decision on Eskom’s Fifth Multi-Year Price Determination (MYPD5) allowable revenue application for the 2023/24 and 2024/25 financial years. Eskom’s application for the 2023/24 financial year’s revenue was R351 billion, including Regulatory Clearing Accounts (RCAs) and court orders. However, the regulator approved allowable revenue of R318bn after considering adjustments for inefficiencies and prudency reviews. For the 2023/24 financial year, Nersa approved…

NEWLY unemployed Goldman Sachs workers are tapping head-hunters after losing their jobs in its biggest restructuring since the 2008/9 financial crisis, with a sluggish global economy set to make finding comparable roles a challenge, sources said. Goldman stepped up laying off staff on Wednesday in a sweeping cost-cutting drive, with around a third of those affected coming from the investment banking and the global markets division, a source familiar with the matter said. The Wall Street titan’s rivals have also started to cut jobs as global banks prepare for recession and broader, deeper cuts are expected across the industry if deal-making activity remains weak. At least 5 000 people are at risk of layoffs from various banks. In addition to around 3 200 from Goldman, Morgan Stanley has cut about…

The EFF has filed court papers in the Constitutional Court opposing President Cyril Ramaphosa’s bid to review Parliament’s section 89 panel report, which found there was prima facie evidence of “serious misconduct and gross violation of the Constitution” in the president’s alleged involvement in the stashing of millions in undeclared foreign currency on his Phala Phala farm in Limpopo. The panel – consisting of retired chief justice Sandile Ngcobo, Judge Thokozile Masipa and Advocate Mahlape Sello SC – was sanctioned by the National Assembly. However, it was later overruled by MPs when the ANC used its majority in Parliament to avoid adopting the report, which could have paved the way for impeachment hearings against Ramaphosa. In early December last year, Ramaphosa applied to the Constitutional Court for the review…

AS INVESTMENT into alternative energy sources in the country continued to grow, TotalEnergies EP South Africa (TEEPSA) announced it was closer to supplying gas from the Southern coast to the domestic market. The announcement has made conservation groups wary, as they raised concern over the impact on the environment. TotalEnergies said together with its partners, they applied for a production licence in September last year. “If the production right is granted and commercial agreements for the sale of the gas onto the domestic market can be achieved. TEEPSA and its partners applied for a production licence in September 2022, following which an environmental and societal impact assessment (ESIA) was initiated, in accordance with the Mineral and Petroleum Resources Development Act 28 of 2002. “The future production facilities would be connected…

A JOBURG resident who asked the court to overturn a judgment against him because he never received summons because it was delivered to the security guard at the gate of the former complex where he lived was turned down. The South Gauteng High Court in Joburg highlighted the fact that there is an obligation on a person who changes address to ensure that the new address is updated in accordance with the requirements of amending the agreement he or she has in place, as in this case, the bank. Simply phoning and stating that one’s address cited on the agreement or contract has changed will not suffice, Judge Alyson Crutchfield said in her judgment. Sipho Sibeko turned to court after he fell in arrears with his car payment with WesBank.…

IN WHAT is believed to be an act of retaliation by taxi operators over a dispute with City officials regarding impounding of vehicles, another MyCiTi bus was set alight in the area. Police are investigating a case of public violence after the bus was torched on Wednesday. According to the City, at about 5.25pm a minibus taxi-related protest saw participants block the traffic circle in Imizamo Yethu. Police spokesperson, FC van Wyk said reports showed that City traffic officials were busy with operations involving taxi drivers operating without route permits in Victoria Road. “Three taxis were impounded. “One person was arrested for failing to comply with a lawful instruction of a law enforcement officer and assault on a law enforcement official. “The other drivers then turned onto a MyCiTi bus,…

Laura Zigman Loot.co.za (R561) Ecco Laura Zigman once tried to write her family story as a memoir, but she didn’t think it had enough drama. “There’s only so much you can say about growing up in the shadows of your parents’ grief,” she says. It’s no surprise, then, that the drama at the heart of “Small World” also happened in real life. Zigman’s oldest sister, born with a rare bone disease, died at the age of 7. In Zigman’s fictional rendition, the middle Mellishman daughter dies of cerebral palsy at age 10, triggering an estrangement between Joyce and Lydia, the surviving two. Decades later, after 30 years on opposite coasts, Lydia moves into Joyce’s Cambridge, Massachusetts, apartment. Both women are newly divorced. Each hopes the other will heal her childhood…

THE Canadian Armed Forces have delivered armoured vehicles to Haiti to combat gang violence against Haitian citizens, the country’s foreign ministry said in a statement yesterday. “Today, the Minister of Foreign Affairs, Melanie Joly and the Minister of National Defence, Anita Anand announced that the Canadian Armed Forces have airlifted vital Haitian-purchased armoured vehicles to Haiti,” the statement said. It noted that the Canadian authorities were responding to Haiti’s request for help against the backdrop of an escalation of violence in the country. Armoured vehicles were handed over to the Haitian National Police for use in the fight against criminal gangs. “Canada continues to support the restoration of peace and security for the Haitian people. Delivery of these Haitian-purchased armoured vehicles will assist the efforts of the Haitian National Police…

RWANDA: Rwanda’s government has backtracked on President Paul Kagame’s position that the country will no longer offer refuge to those fleeing conflict in the Democratic Republic of Congo (DRC). Kagame had said refugees fleeing across the border into Rwanda were “not Rwanda’s problem”. “I am refusing that Rwanda should carry this burden,” the president said. But in a statement on Tuesday night, government spokesperson Yolande Makolo said Rwanda had no intention to expel or ban refugees. She accused the media of misrepresenting Kagame’s remarks. “What the president addressed was the blatant hypocrisy in criticising Rwanda, which simultaneously gets the blame for state failure in the DRC and is then expected to accommodate those who seek refuge from the consequences of that failure,” she tweeted.…

KAIZER Chiefs can kickstart their resurgence with a win against struggling AmaZulu at the Moses Mabhida Stadium tonight. That is, at least, the expectation of their fans that were certain Amakhosi had turned the corner prior to losing their last game 1-0 against Sekhukhune United. Chiefs had beaten their Soweto rivals Orlando Pirates and Golden Arrows before the shock defeat to Sekhukhune. Chiefs coach Arthur Zwane took it on the chin and his comments suggested that he was interested in the bigger picture of rebuilding the Glamour Boys. A win against Usuthu could potentially see Chiefs go equal on points with second-placed SuperSport United. But Zwane will know that AmaZulu are a desperate side with their coach Romain Folz still looking to impress his bosses. The French-Moroccan manager has…