Índice para 2023-11-28 em Star

THE SOUTH African mining jobs bloodbath continues as Wesizwe Platinum yesterday issued a section 189A at Bakubung Minerals, which could effect 571 employees out of 761, as it embarks on the possible restructuring of its operations amid a downturn in metal prices. The shares in the miner dived as much as 15% on the news to a low of 51 cents. In fact Wesizwe’s shares yesterday closed 16.67% lower at 50 cents on the JSE. Wesizwe said the contemplated retrenchment consultation process had further been compounded by the downturn in the mining industry as well as the two community strikes in the years 2022 and 2023 and the recent five-week unprotected strike in July, which affected the mine development progress adversely. The mine only reopened on August 21 after…

Explores feasibility of using permission to occupy tenure as collateral for home loans THE NATIONAL Treasury yesterday published the Financial Inclusion Policy Framework for South Africa, which seeks to deepen financial inclusion for individuals and households, extend access to financial services for SMMEs, and leverage a more diversified provider and distribution base for financial services. It explores the feasibility of using other types of security such as permission to occupy tenure as acceptable collateral for financial institutions seeking to provide home loans or mortgages, in a bid to support wealth creation among the currently un- or under-served while also increasing the level of home ownership in South Africa. This is one of the 16 priority areas seeking to promote appropriate credit for assets and investment over consumption which has been…

The KERFUFFLE around the manipulation of the rand and the subsequent admission of collusion by some local and foreign banks has, understandably, excited considerable attention. South Africa deserves a clear explanation on the matter. The matter has spawned two main debates: the first revolves around the fairness or unfairness of the imposed fine for the admission of guilt and potential penalties for those who may be found guilty in this and subsequent cases. The second is about the damage such malpractices inflict on society and the economy generally. While these two issues are weighty, the more profound ones related to policy are relegated, or ignored. As one can guess, the shocking silence of the Treasury and the SA Reserve Bank (SARB) begs a question. A fundamental question is about how…

IT IS BECOMING difficult to distinguish between fake and real identities. Recently, I’ve been exposed to a series of artificial intelligence generated videos and audio material. Most of them are designed to deceive and they are catching people unawares. One of them claims to be an investment scheme by a global businessperson as reported by a fake video of a newsreader. It’s surprising that even intelligent beings have been caught off guard by such a scheme. It seems to me there’s little being done to safeguard consumers of video and audio content from the deluge of fake content. What should be done? To determine what should be done, it’s im- portant to consider what could go wrong. Imagine something that appears to be a news report spreading falsehoods about a…

Standard Bank Group’s shareholders will no doubt be satisfied that guidance for its financial year to December 31 is expected to remain intact. The biggest bank in Africa by assets said in a trading update for the 10 months to October 31, 2023, yesterday that banking revenue growth was expected to be “robust”, underpinned by strong momentum across the franchise. The share price closed 0.93% lower at R197.59 on the JSE yesterday, a price marginally higher than on the same day a year previously and about 63% higher than three years ago. Banking cost growth was expected to remain elevated, but strong positive jaws (income growth versus cost growth) was expected, the bank said. Credit impairment charge growth was expected to moderate in the six months to December 31, and…

Three of the Senzo Meyiwa accused were involved in a scuffle with an armed prison warder during the tea break of the murder trial. The scuffle was due to the way in which the accused were sitting in the Gauteng High Court, Pretoria, benches during tea break yesterday. Muzikawukhulelwa Sibiya, Bongani Ntanzi, Mthobisi Prince Mncube, Mthokoziseni Ziphozonke Maphisa, and Fisokuhle Nkani Ntuli, are standing trial for the October 2014 Vosloorus murder of the soccer ace, who was killed at his girlfriend Kelly Khumalo’s family home in a suspected hit. Mncube, Maphisa and Ntuli were involved in the scuffle. Footage from journalists who were in the court during the tea break saw the accused and the warder involved in a heated altercation, with punches and closed hands thrown but not connecting.…

Minister of Justice and Correctional Services Ronald Lamola has warned against officials who are helping inmates to smuggle cellphones and other contraband into correctional centres after almost 21 000 cellphones were confiscated between April and October this year. Lamola said four officials were hauled over the coals for being involved in smuggling cellphones to prisoners. Out of the four prison officials, one was fired in KwaZulu-Natal, one in Gauteng resigned before they started with the disciplinary hearing and two in the Western Cape are facing disciplinary action. Lamola said during operations by officials in prisons, they recovered 20 933 cellphones in their centres. In Gauteng, they recovered 5 381 cellphones, in KwaZulu-Natal prison authorities confiscated 4 433 cellphones from inmates and in the Eastern Cape they confiscated 3 288 cellphones.…

As THE shopping frenzy continued into Cyber Monday from Black Friday, marking the start of the shopping and festive season for South Africans, one of the country’s largest retailers has said one product was top of mind for many consumers. Pick n Pay said yesterday that air fryers continued to reign supreme as the most coveted items among Black Friday deal-seekers, marking an impressive seven-year streak. “This has been the best year to date for air fryer purchases and we’ve doubled our sales already when compared to last Black Friday month,” said Andrew Mills, chief marketing officer at Pick n Pay. In response to the unabating demand for this popular kitchen appliance, Pick n Pay said it had proactively secured an increase in stock for this year’s Black Friday event.…

In just a few days, the coastlines of KwaZulu-Natal and Plettenberg Bay will be flooded with excited matriculants, who are ready to let loose and celebrate the end of their academic journeys. One of the largest of these celebrations is the matric Rage Festival, which takes place over nine days in Ballito, uMhlanga and Durban, and is attended by over 13 000 youngsters. The festival, from December 1 to 10, has become a popular destination for local teenagers to party and unwind. However, amid the excitement, concerns have been raised about potential dangers lurking at these events. The Department of Basic Education has issued a warning to learners, urging them to refrain from attending and hosting pens-down celebration parties. “#Pensdown celebrations can involve the use of drugs and alcohol, which…

RUBBER stamping the NHI Bill would have damaging consequences for South Africa for generations and present a material risk to the economy, the business sector said yesterday as 25 000 doctors also voiced their concern. Business Unity South Africa (Busa) and B4SA called on the National Council of Provinces (NCOP) and Deputy President to defer the Bill for NCOP to properly consider concerns raised by the provinces and many stakeholders. Busa and B4SA said: “No consideration was given by the select committee to the many constitutional issues, both procedural and substantive, in the Bill, which were raised by four provinces and a wide range of stakeholders. “This amounts to a serious and significant procedural lapse and a violation and disregard of Parliament’s own public participation model, fundamentally undermining the…

IN THE CORRIDORS of power, where decisions shape the destiny of nations, one man has emerged as front runner for the dubious honour of being the architect of South Africa’s economic chaos – Minister of Public Enterprises Pravin Gordhan, at whose hands the country’s State-owned enterprises (SOEs) have all but collapsed. In a young and emerging demo- cracy, SOEs should play vital roles, such as contributing significantly to gross domestic product providing jobs, and supplying essential services to ensure the economic participation and inclusion of the people and businesses at all stages of the value creation chain. Instead, there has been a systematic breakdown of almost every SOE in this country, to the point where privatisation becomes the only solution – but then, perhaps that is the end game after…

IN A SEMINAR organised by the European Data Protection Supervisor in October, more than 20 speakers voiced their opposition to a proposed EU legislative measure that would require messaging services to scan user communications for child sexual abuse material (CSAM). The proposal aims to employ automatic, non-targeted surveillance to detect CSAM and grooming in real-time. Critics argue that this approach threatens democratic values and fundamental freedoms. Wojciech Wiewiórowski, the European Data Protection Supervisor, said the proposal went beyond child protection concerns, questioning the foundations of privacy in a democratic society. He warned that without amendments, the legislation could change the internet and digital communication, drawing on his personal experience of living under surveillance during the Communist regime in Poland. The proposal, presented by the European Commission in May 2022,…

SHAFTESBURY Capital saw a strong start to the Christmas trading season at its retail and entertainment focused precincts in London’s West End following a solid second half financial performance, management said yesterday. London’s West End is a vibrant global destination with a concentration of entertainment and cultural attractions. Shaftesbury, JSE-listed and part of the FTSE-250 Index, held a property portfolio valued at £4.9 billion (R115.7bn) as at June 30, 2023, and its year end is at December 31. CEO Ian Hawksworth said yesterday that customer sales were tracking 12% ahead of last year. Two hundred and twenty leasing transactions were signed so far in the second half, at rents 6% ahead of June, and there remained a strong leasing pipeline. “There has been consistently high footfall across our…

ZEDA LIMITED’S maiden results as a listed company reflected double-digit growth across all its key financial indicators, vindicating the integrated mobility strategy that is driving the company. Chairperson Lwazi Bam said other thresholds reached in the year – it was listed last December – included securing their first broad-based black economic empowerment (BBBEE) credentials as a separately listed entity, and an employee survey score of platinum. Subsidiaries Zeda Car Leasing and Zenith Car Rental, both obtained BBBEE Level 1 status, Bam said in the results released yesterday. Zeda also obtained its first credit rating from Moody’s, an investment grade of A1 on a national scale and Ba3 on a global scale. The unbundling debt of R1.55 billion was also settled two months ahead of schedule. Net debt at…

There are about 7.8 million people living with HIV in South Africa which is a decrease from 14% in 2017 to 12,7% in 2022, according to the sixth South African National HIV Prevalence, Incidence and Behaviour survey (SABSSM VI) which was released yesterday. However, while the number of people living with HIV has decreased, concerns have been raised around the increase in HIV positive youths aged between 15 and 24 and the unfortunate trend of very low condom use in the same age group. In addition, KwaZulu-Natal, Mpumalanga, Eastern Cape and the Free State were ranked highest in HIV prevalence among adults 15 years and older. The Human Sciences Research Council (HSRC), in collaboration with its partners, announced the findings from the 2022 survey which was conducted across all nine…

ANC secretary-general Fikile Mbalula has, for the first time, spoken out in defence of former ANC president Jacob Zuma, saying his arrest should not have happened. On the other hand, Mbalula blasted former president Thabo Mbeki for his alleged failure to distance himself from the formation of the Congress of the People (Cope) after the Polokwane Conference when he was recalled as ANC president in 2007. Mbalula, who addressed SA National Civic Organisation members at their national conference in Durban at the weekend, said that as a former youth league leader, he was among the first to defend Zuma against a trial by the media. “There are people who, for their own political agendas, have never liked Msholozi. There were politics in the process. Some won’t like hearing this but…

Ingredients For the cake 500ml all-purpose flour 5ml baking powder ½ tsp bicarbonate of soda ½ tsp salt ½ cups sugar 2 tsp ground cardamom ¼ cup chopped pistachio nuts 1 tbsp ground flaxseed 1 cup courgettes, grated ¾ cup plant milk 4 tbsp freshly squeezed lemon juice, plus extra for drizzling 1 tbsp lemon zest cup + 1 tbsp sunflower oil 1 tsp vanilla extract Method Preheat the oven to 180°C. Grease a small bread tin or line it with baking paper. To make the cake: In a large bowl, sift together the flour, baking powder, bicarbonate of soda, salt, sugar and cardamom. Add the chopped pistachios and set aside. Prepare the flax egg by mixing the flaxseed with 45ml water, and set aside. Wrap the grated courgette tightly…

Hennops River Revival, a non-profit organisation (NPO) with its primary aim to fight against any form of pollution of the Hennops River, last week marked four years since its inception. Its founder, Tarryn Johnston, said for the past four years the organisation has done more than 700 clean-ups, created more than 8 000 job opportunities, and been a platform for 24 000 plus volunteer hours, with more than 162 500 bags of waste removed from the river. “Along with enormous amounts of waste and debris that can’t be bagged, our estimated total waste removed is well over 4 585 280kg. Our work has an average impact on 207 640 000 kilolitres of water per year,” she said. The Pretoria News previously reported that the banks of the Hennops River in…

A husband has taken his estranged wife and her friend to court, seeking access to bank statements he believes will reveal the use of his R3.8 million and proceeds from his valuable jewellery collection. Five years ago, the wife filed criminal charges against him, leading to his arrest and subsequent release on bail with a condition barring him from entering their marital home. Despite the charges being withdrawn months later, the wife continued to deny him access to the home. As a result, the husband alleges he was unable to retrieve his belongings, including expensive wristwatches, inherited jewellery, collectable coins, R3.8m in cash, and ‘Mandela Coins’ belonging to a discrete company. Efforts by his attorneys to collect the items from the marital home were unsuccessful, the wife only allowing his…

“Umuthi ugotshwa usemanzi” To bend the stick, you need to do it when it is wet: How we talk to boys is key to curbing the gender-based violence scourge in South Africa. Children learn by imitating the behaviours of those around them, especially adults in their immediate environment. What they see and hear, they do. While this is perfectly acceptable when it applies to the respectable traits and good habits that form the foundation of being a responsible citizen, it is not so for behaviour that is inappropriate, toxic and harmful. Our children emulate all our behaviours because they do not know the difference. It is up to us to show them. For the past 25 years, South Africa has initiated its annual 16 Days of Activism for no Violence…

THE MARKETS in South Africa opened the week on a weak footing yesterday, despite the gold rally, as unfavourable domestic factors such as intensified load shedding and logistics challenges dragged sentiment. The gold price strengthened above $2 000 (R37 493) an ounce yesterday, hitting its highest levels in more than six months and benefiting immensely from the dollar’s weakness, as traders piled on bets that US interest rates have already peaked. Last week, economic data con- tinued to paint a mixed scenario in the US, although weak consumer spending figures suggested the Federal Reserve’s rate hikes are finally starting to weigh on the broader economy. This comes as inflation is expected to continue falling next year, but at a much more gradual pace than in 2023, driven by…

ESKOM has welcomed the decision by S&P Global Ratings to upgrade the power utility’s credit ratings and revise its outlook as the government has come forth to shoulder the majority of the power utility’s debt. S&P on Friday upgraded Eskom’s long-term issuer credit rating to “B” from “CCC+” with a stable outlook on the group’s senior secured and senior unsecured debt. In addition, S&P Global also upgraded Eskom’s South Africa national scale rating to “zaBBB/zaA-2” from “zaB/zaB”. S&P said the credit rating up- grade was due to its expectation that the South African government’s R254 billion financial support package will cover Eskom’s debt servicing and repayment obligations over the current and coming two financial years. S&P credit analyst Omega Collocott said the stable outlook reflected their view that the…

LAST WEEK South Africans were once again alerted to the news that two of the countries largest consumer credit reporting agencies, Transunion and Experian, faced yet another cyber security breach with the last one having occurred in 2017. The hacker group N4ughtySecTU, who claimed responsibility for the previous breach, once again announced that they managed to infiltrate the agencies’ databases and have acquired consumer credit information for millions of South Africans. The hackers have demanded a ransom of $60 million (roughly R1.1 billion) from the two agencies to stop them from releasing this private data to the rest of the cyber underworld where it can be used for identity theft, financial fraud, increased scam attacks on users and much more. While both Transunion and Experian have maintained that…

INVICTA Holdings’ management kept a tight grip on operations, which, with a solid operational performance, resulted in earnings a share increasing by 12% to 304 cents in the six months to September 30, CEO Steven Joffe said yesterday. “We are a replacement parts business, and we expect and aim to report steady growth each year, even through the tough times … our geographic and diversification strategy also aims to ensure this,” Joffe said in an interview yesterday. The board intends to pay a dividend at year-end at a cover ratio of between 2.75 and 3.25 times on sustainable earnings. Interim operating profit increased 8% to R359 million. Cash from operations was up 11% to R322m. Proceeds from the disposal of some non-core properties was used to buy back…

SEAN “Diddy” Combs has reportedly been hit with a shock third sexual assault lawsuit. The 54-year-old rapper – who recently settled out of court with his singer ex-girlfriend Cassie, 37, after she filed a suit accusing him of rape and abuse – is now said to be facing fresh accusations from a woman known only as Jane Doe, that he and singer-songwriter Aaron Hall, 59, took turns sexually assaulting her and her friend in either 1990 or 1991. TMZ has reported she claims in legal documents she met Combs and Hall at a record label event and he brought her and her friend drinks while flirting with them. But a representative for Combs told the Daily Mirror in a statement: “These are fabricated claims falsely alleging misconduct from over 30…

As South Africans get closer to the eagerly awaited elections next year, talks about the issues plaguing the country have gained prominence. The elections will mark 30 years since South Africans of all races voted for the first time in the country. With parties showing visibility through different campaigns, questions have been raised by voters. There has also been a meticulous look at unemployment, the increased crime rate, corruption, and load shedding, which are among the endless list of issues concerning people in the run-up to the elections. President Cyril Ramaphosa’s visit to Jozini’s local government in KwaZulu-Natal recently for the official opening of the Bhekindoda water system is one such event that has sparked thousands of reactions on social media. In a video widely shared on X, Ramaphosa…

THE City of Tshwane’s Social Development and Community Services MMC, Peggy de Bruin, has been accused of having lied to the public by saying last year that a multimillion rand project to refurbish the Caledonian Stadium in Arcadia was on track, while it had in fact ground to a halt. EFF leader in Tshwane, Obakeng Ramabodu, challenged De Bruin to give an account of the project that was allocated a budget of R67 million by former mayor Solly Msimanga in 2017. He called on De Bruin to step down with immediate effect should she fail to account for the project. “The call is made after EFF councillors made several inspections in loco to observe some real evidence after public presentations of unbelievable oral evidence from the unscrupulous DA-ActionSA coalition,” he…

A 21-year-old student is expected to appear in court tomorrow after he was arrested for the rape and murder of Johannesburg schoolteacher, Kirsten Kluyts. Gauteng police spokesperson Brigadier Brenda Muridili said the alleged killer was arrested on Sunday, in Parkmore. “The provincial commissioner of police in Gauteng, Lieutenant-General Elias Mawela, has commended Sandton’s team of detectives that managed to crack the murder case of Ms Kluyts by arresting her alleged murderer on Sunday in Parkmore suburb,” said Muridili. “This follows a thorough investigation by detectives and the co-operation by 24/7 Security Services management.” Muridili said the alleged killer is a student at a “Sandton tertiary institution”. He was arrested at around 4pm on Sunday, at a students’ residence. “Kluyts was brutally murdered on October 29, while jogging at George Lea…