Table of contents for 2021-09-20 in Star

Edward West edward.west@inl.co.za The MAJOR banks experienced a sharp earnings recovery in the first half of 2021 from the depressed Covid-19 related trading conditions of the previous year, but recovery at the banks is still under way. Headline earnings of the major banks, combined, increased a whopping 177 percent to R40.6 billion in the first six months of 2021, PricewaterhouseCoopers’ (PwC’s) Major Banks Analysis 2021, released on Friday, showed. The report highlights key themes from the results of Absa, FirstRand, Nedbank and Standard Bank. The combined earnings figure however, was still 4.5 percent behind 2019 levels, as PwC’s analysis for 2019 showed the combined banks’ headline earnings at R42.49bn in that year. The key driver of earnings growth in 2021 was sharply lower credit impairment charges across…

Philippa Larkin philippa.larkin@inl.co.za THE SA RESERVE Bank (SARB) is continuing to crack down on life insurers with weaknesses in money laundering control measures and announced on Friday that it had imposed administrative sanctions on Sanlam Life and Fedgroup Life. In April the SARB also imposed administrative sanctions on Discovery Life after it found weaknesses in the life insurer’s money laundering control measures and directed the life insurer to take remedial actions. It is a total financial penalty of R1.5 million (excluding an amount of R500 000 which is suspended for three years). Sanlam Life faced a penalty of R1 m, excluding an amount of R500,000, which was suspended for three years from July 28, while Fedgroup Life was fined R140 000. The SARB said the penalties followed…

THE Western Cape was the top high school maths team at the South African Mathematics Foundation and Actuarial Society of South Africa maths competition on Saturday. TSixty-seven senior teams took part, of which the Western Province’s A-team took the lead. Gauteng North cam second. The Wim Els Memorial Prize was awarded to the Junior B-team from the Wits Siyanqoba region and Gauteng North’s Senior D-team, for exceptional teamwork. . |…

IF the past year has taught investors anything, it is the cost of ignoring risk assets when market circumstances change dramatically. With a period of rapid global economic growth expected this year, risk assets such as equities remain set to benefit. But inflation-plus returns do not come through in a straight line. As such, investors in or near retirement, specifically those who have de-risked their portfolios in recent years, need to ensure that their retirement savings are positioned to capture the returns on offer. Here’s what you need to know. The stage has been set for a rapid global economic growth The IMF expects global growth of 6% this year (up from the previous forecast of 5.2%), with growth in the US leading the way. Albeit off a low base,…

Zodidi Dano zodidi.dano@africannewsagency.com Being in matric means a lot of pressure and responsibility. The burden is increased when adding tertiary applications to the list of things to do. Much like school applications, tertiary institutions applications require a lot of paperwork, and there is no guarantee that you will be accepted at the university of your choice. Hence, you need to make multiple applications for at least two courses at several universities. Added to all that is finding ways to fund your tuition. This 10 step guide, first published on Funda Connect, can help you prepare your application. Closing dates: Make sure you are aware of the application opening and deadline dates for the institution you are planning to apply to. Online application versus courier: Due to the pandemic, most universities…

Debashine Thangevelo After raising the bar in season one, expectations were predictably high for the second season of Netflix’s youth drama series, Blood & Water. Gambit Films, who have proven their Midas touch with Indemnity, Nommer 37, Ellen: The Ellen Pakkies Story, Suidooster, Noem My Skollie and Walk a Mile in My Shoes, don’t disappoint once again. I got a sneak peek at five of the seven episodes ahead of its release on Heritage Day and I was truly blown away. Of course, the suspense is killing me as I wait for a few more days to catch the final two episodes, which is a testament to the skilful storytelling of the creatives. They leave you addicted and on tenterhooks. The second season picks up several weeks from where the…

Lutho Pasiya lutho.pasiya@inl.co.za Vegan diets are rising, and more consumers are becoming aware of the health benefits of not eating animal products, as well as the ethical and environmental impact of animal agriculture. More consumers are cutting out preservatives and animal products as a healthier option for their families. As the buzz about plant-based meat continues to grow, you may have found yourself wondering whether you should try out a plant-based diet. Vegetarianism and veganism have been practised for thousands of years for a variety of reasons, and in recent years it has become easier to give up meat and animal products, thanks to the excess of plant-based alternatives that are so close to the real thing. With Heritage Day upon us, this can be a stressful time for people…

Chulumanco Mahamba BUSINESSMAN Max Lichaba is suing his stepson Lwandle “Ocean L” Ndaba, the son of actress Sophie Ndaba, for R500 000 after the 21-year-old released a song accusing Lichaba of cheating and abusing Sophie, according to reports. Last month, Lwandle sent shock waves across social media after the budding rapper released a diss track, titled My Step Dad A Devil, in which he accused his stepdad of cheating and abusing his mother. “You the reason mama fell in depression. You used her for her fame and her money. You got it all and you left us with nothing, Bipolar n***a, you left your wife alone bruised up on the body. I won’t forget the day you hit her cause you cheated,” Lwandle raps on the song. After the song…

Brenda Masilela and Shifaan Ryklief Legislative elections were held in Russia at the weekend. The last elections were held in 2016 and resulted in United Russia, the ruling party, winning the elections with 54.2% securing 334 seats out of 450 in the State Duma, the elected lower house of parliament. CNN reported that United Russia’s popularity declined in the past years as its image has been marred by un- popular reforms and corruption scandals However, there’s no expectation that United Russia, the party devoted to President Vladimir Putin, will lose its dominance, Al Jazeera said in its report. It’s still unclear when results will be released, but because the win has already been predicted, the news focus will be on whether the ruling party’s number of seats has increased or…

MATSHELANE MAMABOLO THE general reaction of outrage to Benni McCarthy’s touchline verbal jostle with Kaitano Tembo last week was typically South African, wasn’t it? Getting our knickers in a twist over what is nothing more than an overflow of emotions in a highly competitive sport renowned for not being too kind on coaches, has become some form of pastime for us local football fans. It is as if we ourselves don’t ever throw expletives towards the opposition team, the officials and even our own clubs when things go pear-shaped during a match. Damn, I can bet you that many of those who called McCarthy out have had to be restrained from totally losing it when watching a football match! Such is the nature of this beautiful game that we love…

Herman Gibbs Mamelodi Sundowns (0) 3 Lebusa 57, Shalulile 58, Kutumela 84 TS Galaxy 0 After a lacklustre first-half performance, Mamelodi Sundowns fired a two-goal second-half blitz en route to a resounding 3-0 win over TS Galaxy at Loftus yesterday to reclaim top spot on the Premiership standings The outcome allowed the defending league champions to move from fourth place to the summit of the log as they continue their quest for a fifth consecutive title. After four matches, TS Galaxy remain winless and are languishing near the foot of the table in 15th place. From the outset, Sundowns imposed themselves on the match although TS Galaxy kept them at bay when they tried to find a way into the final third. Midfielder Themba Zwane tried for an early…

Siphelele Dludla siphelele.dludla@inl.co.za Pension Fund legislation is expected to take the centre stage in the Medium-Term Budget Policy Statement (MTBPS) which will be tabled on November 4, three days after the country’s local government election. The National Treasury has rejected a number of proposals in the Pension Fund Amendment Bill 2020, which proposed to allow workers to access a portion of their retirement savings immediately. Treasury has so far preferred an arrangement that would allow people to withdraw from pension funds with a limit of a third, or up to 20 percent, under certain conditions, in three to five years. Finance Minister Enoch Godo- ngwane is set to announce the pension reforms after the Treasury proposed a “two pot” system that would allow small withdrawals while having preservations. Alexander…

Edward West edward.west@inl.co.za THE DEVELOPMENT Bank of Southern Africa (DBSA), which helped deliver infrastructure of R26.6 billion in the year to March 31 with R8.2bn of catalysing funding, has remained strongly capitalised and able to deliver on its developmental mandate. The bank said in its annual report Friday its liquidity and capital positions were strong even though Moody’s had downgraded its credit rating to a notch below the government, and the bank’s long-term national scale issuer rating to Aa3.za, from Aa1.za. “Notwithstanding the disruption of the local fixed income market, DBSA has been successful in raising funding from international development finance institutions as well as international and local commercial banks.” The bank said from its point of view, the major impact of the Covid-19 pandemic was disruption of the…

When six-time Grammy Award-winning artist Kacey Musgraves released her fourth studio album, Star Crossed, last week, it was met with much fanfare. But one song – Breadwinner – especially resonated with a specific audience. The song describes a partner’s initial acceptance of Musgraves’s success, and then the downfall and pain that occurs when he doesn’t realise what a relationship with a “breadwinning” woman entails. “He wants a breadwinner / He wants your dinner / Until he ain’t hungry anymore,” she sings. “He wants your shimmer / To make him feel bigger / Until he starts feeling insecure.” For Musgraves fans, the lyrics in Breadwinner were relatable. When Trista Spurgeon, 55, heard the song, she was transported back to when she first heard the term, she said: “I lived in a…

THE 2021 National Senior Certificate exams, which were initially set to start on November 1, will instead start on October 27 and end on December 7. This is due to municipal elections scheduled for November 1. The Department of Basic Education said there were 207 exam question papers to be written over 25 days, five weeks, and there were no vacant sessions in the 25 day time table which was also why the exams were moved up. | Zodidi Dano…

MaryAnne Isaac maryanne.isaac@inl.co.za SOUTH African graduates who may be employed, lack basic and critical skills to sustain business requirements in the workplace. This is according to several studies that also reveal that higher education is no longer a guarantor of a job. The country is experiencing a shortage of skills in the engineering, ICT and artisan fields. In 2019, it was reported that South Africa had a skills mismatch of more than 50% and the lowest productivity in the labour workforce, compared to 30 other countries. Various studies have also revealed an educational mismatch to be similarly high in South Africa, with a quarter of the respondents being over-educated and 27% under-educated for their jobs. The mismatches of educational qualifications and job-related requirements lead to under-employment, where a graduate is…

LEGACY S2 M-NET, DSTV CHANNEL 101, 7PM The riveting South African telenovela follows the super-wealthy Price household, a family at war with itself. With patriarch Sebastian Price about to retire, who will take over the reins? And, at what cost? THE DUKES, DUCHESSES AND THE PRESS M-NET, DSTV CHANNEL 101, 8.30PM A engrossing two-part documentary that looks at the royals and their relationships with the media. THE RIVER RUN NETFLIX The story of Scott Lindgren’s 20-year quest to be the first person to paddle the four great rivers that originate from Tibet’s sacred Mount Kailash is more than a gripping whitewater flick. It is also an intimate chronicle of an emotionally stunted athlete who’s having a breakthrough after a crisis.…

Lutho Pasiya lutho.pasiya@inl.co.za Sometimes many of us enjoy food that would not be typically served in our households. For instance, you may desire Italian takeaway during the weekends or may visit your local restaurant for a buffet during the week. What most of us do not realise is that the food we eat has a lot to say about their cultures. The connection between food and culture is a lot stronger than most of us think. We eat many types of food, not thinking much of it. But when we do, we usually have warm, fond memories of, perhaps, our grandparents or parents cooking our favourite dish after we had a bad day at school. Whenever I devour umngqusho (samp and beans) or umvubo (dry pap mixed with maas), I…

Mashudu Sadike THE ANC chairperson of the Electoral Committee (EC) and former president Kgalema Motlanthe has come out guns blazing against a Limpopo factional meeting to convince the committee to work in the CR17’s favour, calling it shocking and disappointing. This was revealed in leaked audio messages of the Zoom meeting, heard by The Star’s sister paper, the Pretoria News. Present in the secret meeting that appeared to be chaired by ANC Veterans League (ANCVL) president Snuki Zikalala was Motlanthe and EC national list co-ordinator Chief Livhuwani Matsila, who were invited by the league. Also present were Vhembe regional secretary, advocate Anderson Mudunungu, the region’s deputy chairperson Dowelani Nenguda, Capricorn District Municipality executive Rakgadi Machaba and provincial ANCVL chairperson and former agriculture MEC Jacob Marule. In the audio,…

| African News Agency (ANA) WHILE Egyptian Mohamed Salah continues to bang in the goals for English Premier League side Liverpool, it’s interesting to note that he is not among the top-five highest African goal-scorers on the international stage. The 29-year-old Salah comes in at seventh on the list of most goals scored on the international stage by an African player. Salah has scored 45 goals in 71 matches for Egypt. The late Godfrey Chitalu of Zambia holds the record of most international goals by an African player with his 79 strikes. Chitalu was a prolific striker, beginning his senior career in 1964 at the age of 17 and hanging up his boots in 1982. In total, he won 111 caps for Zambia between 1968 and 1980. His…

SWALLOWS FC 0 SUPERSPORT UNITED (0) 3 Webber (p) 62, Mokoena 63, Gabuza (p) 71 Three-time league champions SuperSport United registered their second win of the season to bag eight points after four matches after thumping Swallows FC 3-0 in a DStv Premiership encounter at the Dobsonville Stadium yesterday. Swallows have had a roller-coaster start to their campaign. They are in the MTN8 semi-finals after beating Orlando Pirates in the quarter-finals, while they had won a game, drew one and lost one in their last league outing against the Bucs. Brandon Truter kept a bulk of the team that lost to Pirates away from home, with last season’s impact player Kagiso Malinga the notable inclusion. But perhaps the early credit should go to returning goalkeeper Virgil Vries. Before…

Chelsea extended their flying start to the season with a 3-0 win at London rivals Tottenham as both clubs paid an emotional tribute to their former striker Jimmy Greaves yesterday. Thiago Silva put Chelsea ahead early in the second half before N'Golo Kante bagged his first club goal since December 2019. Antonio Rudiger rounded off Chelsea's dominant display with a stoppage-time strike as Thomas Tuchel's latest tactical masterclass paid rich dividends. Tuchel's unbeaten side sit top of the Premier League after winning four of their first five games. Chelsea have only conceded one league goal so far this season despite a tricky fixture list that featured trips to Liverpool, Tottenham and Arsenal. They face another test of their title credentials next weekend when champions Manchester City visit Stamford Bridge. It…

Company partly owned by MTN files papers with the US Securities and Exchange Commission Dineo Faku dineo.faku@inl.co.za NIGERIA-based tower operator IHS Towers, which is partially owned by MTN, is planning Africa’s biggest initial public offering (IPO) on the New York Stock Exchange (NYSE) after calling it off in 2018. MTN said on Friday IHS Towers had filed papers on Thursday with the US Securities and Exchange Commission relating to a potential IPO on the NYSE. “The timing, number of shares to be offered and price range of the proposed offering have not yet been determined. The launch of the offering is subject to the necessary regulatory approvals, governance approvals and conducive market conditions,” said MTN. MTN, Africa’s mobile giant, holds a 29 percent interest in IHS Towers, which has…

Dineo Faku dineo.faku@inl.co.za SPUR CORPORATION, the owner of Spur and RocoMamas eateries, managed to grow franchised restaurant sales by 1 percent for the financial year ended June 2021, the group said in a trading statement released on Friday. Spur said the 1 percent restaurant sales growth represented a 67.6 percent increase in the second half of the financial year, over the same period in 2020, which was severely affected by the total prohibition on sit-down trade in the fourth quarter. Spur profits have been under pressure since the outbreak of Covid-19 and the company is rapidly becoming a serious fast food market competitor with the launch of Spur Steak Ranches’ first drive-through in Pretoria, with plans to introduce drive-through formats for its RocoMamas and Bento brands.…

Viwe Ndongeni-Ntlebi viwe.ndongeni@inl.co.za The IUD is a popular choice of contraception for many women around the world, but many are opting to remove it without medical advice or medical assistance. Doctors have slammed this new “hack” popular on TikTok which sees women posting their ‘IUD removal’ – with some boasting it took them ‘just two minutes’. The trend may have been popularised by a TIkTok creator, Mikkiegallagher, who is from the US but now lives in Ireland, who showed a close-up of her face while pulling the device out, warning her viewers that she wasn’t giving medical advice on her video. Others followed with similar videos. A New York-based gynaecologist Dr Anar Yukhayev told NBC that it is better to get a medic to perform the procedure as they have the…

THE Inter-Reddford team, a group of Grade 7 Reddford House learners, made it to the top five in the Global Inspired Builds Robotics 2021. The Inter-Reddford team’s Covid K9 robot tests people’s temperatures and responds with a bark of approval if temperatures are normal and with a growl if too high ..Ewan Curry, Bonolo Thaneng Masotsha Mathivha ; Makaziwe Ntsele, Philile Mkhatshwa and Kgatlhiso Moreosele made up the team. | Zodidi Dano…

LUCKILY, there are plenty of ways to ensure prospective students and parents are prepared for this coming-of-age journey, including university open days. They provide an opportunity to get a feel for an institution, lectures and student support services. Especially with the rise of tuition fees and the uncertainties caused by the global pandemic, it helps parents and their children feel secure about the choice they are making. If you’re wondering where to start or what you need to know, here are a few tips to help you: Ensure you explore the career paths you feel drawn to. This will provide a base to prioritise which faculties and qualifications to explore first. Take advantage of career counselling services the institution provides, so that you get a professional take on…

Debashine Thangevelo debashine.thangevelo@inl.co.za CAPE Town’s Cameron Lombard has been signed up for season 19 of BBC Brit’s hit reality dance series, Strictly Come Dancing UK. With dancers Johannes Radebe and Oti Mabuse, as well as judge Motsi Mabuse, leaving an indelible mark on the popular series, the arrival of the 20-year-old reigning South African Latin Champion amplifies the South African presence. In a recent Zoom chat with Lombard, who is settled in the UK and busy with rehearsals, he said he was over the moon to have bagged his life-changing opportunity. While his celebrity dance partner was yet to be revealed at the time, he was happy to shed light on the recent turn of events. Lombard’s name was forwarded to the Strictly Come Dancing UK producers by his…

| African News Agency (ANA) I miss Daddy, a children’s book based on the experiences of 7-year-old Matthew English from Mitchells Plain, tells the story of his grief and the memory of his father Noel who died in January as a result of Covid-19. Noel, a tyre technician, was 45 at the time of his death and had worked at Golden Arrow Bus Services for 20 years. On December 26 last year, he was admitted to hospital. A few days after celebrating his 10th wedding anniversary in a hospital bed, the father of three succumbed to complications linked to the coronavirus. Matthew’s mother Alicia recalled: “One day Matt and I were sitting in the lounge. He was drawing and at the same time talking about his dad, when he…

LEHLOHONOLO MASHIGO TRYING to get his foot in the industry hasn’t been an easy journey for rising star Psnax, with his new album on the way he wants to prove that he has what it takes. The trap-soul artist, whose real name is Perseverance Sithole, recently released his single Ubuhle Bakho and a music video for his song, Dirty Boys Anthem. Born and bred in Vereeniging, the artist says he wants to emulate his idol Micheal Jackon but in his own unique way. “Music has always been my calling since I was a child, it’s in my blood.” Sithole said seeing his music video for Askhuzekie on TV was one of his proudest moments. The 25-year-old is due to release his first album African Trap Soul which features 10 tracks…

THE world will be marking the International Day of Peace tomorrow and it is timely to contemplate how global peace may be achieved. Peace, according to the governing council of the Baháí international community, is more than just an end to war. “Banning nuclear weapons, prohibiting the use of poison gases, or outlawing germ warfare will not remove the root causes of war. There is need for change in individual attitudes and the creation of a universal framework to uphold peace. The solution to complex and interrelated problems cannot be found in a piecemeal approach tailored to the needs of nation-states. It is not possible for nation-states on their own to solve international problems and to provide well-being and social justice to all. In the Baháí view, our global challenges…

ARSENAL legend Ian Wright has revealed his support of South African footballing giants Orlando Pirates. Wright tweeted alongside a picture of himself in a new Orlando Pirates tracksuit top: “Once always a Pirate @orlandopirates”. Wright, 57, is a former Arsenal, Crystal Palace and England striker. His most successful period came at The Gunners as he made 221 appearances and scored 128 goals for the club between 1991 and 1998. He remains Arsenal’s second highest scorer of all time. Wright joined Crystal Palace in 1985 at the age of 21. He would remain at Crystal Palace until the age of 27, before joining Arsenal. At Palace, he made 225 appearances and scored 90 goals. He also played for England from 1991 to 1998, scoring nine goals in 33 matches. Since his…