Table of contents for 2024-08-15 in Cape Times

The government has postponed the signing of the Second Presidential Health Compact by a week as it irons out issues with the private sector players following serious push-back by big business against the National Health Insurance (NHI) scheme. The National Health Insurance Bill was signed into law on May 15, marking a milestone on the journey by the country to realise Universal Health Coverage without anyone incurring financial hardships, as enshrined in the Constitution. Business Unity South Africa (Busa) yesterday said it would not be signing the President’s Health Compact as it cannot support a policy that explicitly endorses the NHI Act in its current form. The signing ceremony of the Health Compact was scheduled for today at the Union Buildings but the Presidency yesterday said it has been postponed…

The government and business have agreed, at their first meeting since the elections, to accelerate the implementation of their joint initiative to tackle challenges such as electricity outages, poor logistics, and high crime over the next 12 to 18 months. Addressing the media yesterday following a meeting between President Cyril Ramaphosa, ministers, and business leaders, Trade, Industry, and Competition Minister Parks Tau said the government had set itself the target of economic growth of between 3% and 5% by 2030 on the back of an ample power supply. Gross domestic product (GDP) is expected to reach 1.6% from the end of this year through to 2026, according to the National Treasury’s February estimates. Although there is still much work to be done in terms of stabilising the energy supply, James…

Sentiment inn the business sector in South Africa ramped up to a four-month high in July following the formation of the Government of National Unity (GNU), and mainly driven by increased new vehicle sales and a stronger rand exchange rate. The SA Chamber of Commerce and Industry (Sacci) business confidence index (BCI) released yesterday came in at 109.1 in July, up marginally from 109 in June and the highest since 114.7 in March, after dipping by 5.8 index points in April and a further 1.1 index points in May. This reflected a modest improvement in business sentiment, which had significantly dropped before May’s elections but has started to recover with the formation of the coalition government comprising several parties. “The broader representation and accountability in government have created an opportunity…

Women make up just under 60% of the continent’s total ratio of self-employment and contribute around 13% towards Africa’s total GDP, according to The World Economic Forum. Woman entrepreneurs play a central role in growing the economy and the sustainability of households, as well as the well-being of communities. With calls for gender equality intensifying, there has never been a better time for women to pursue their entrepreneurial ambitions and build viable, successful enterprises. Four practical ways to do that: Explore your funding options There are many ways to fund a small business – taking out a business loan, crowdfunding and government grants. However, research shows most women opt to self-fund or bootstrap their ventures. A survey conducted by the Department of Trade Industry, the International Finance Corporation…

Renergen, owner of South Africa’s only helium and liquid natural gas production facility, in Virginia, Free State, said regulatory authorities had “unequivocally” cleared the company and its directors of any alleged wrongdoing, leaving no further grounds for enquiry or action. The share price increased 2.2% to R11.50 on the JSE yesterday morning, post the release of the statement by the company. The company had faced allegations regarding potential irregularities in its business practices and South African corporate governance over the past several months, despite it “consistently demonstrating its unwavering commitment to sound corporate governance”, Renergen’s directors said. The claims had raised concerns about the company’s adherence to regulations and industry standards. Stemming from its acquisition of Tetra4 in 2015, key areas of scrutiny were allegations relating to company directorships not…

Transnet has begun an investigation into the recent doubts cast on the integrity of the award of five security contracts that resulted in the Fidelity Group, which is already being investigated by Eskom for alleged tender fraud, becoming one of the service providers. The transport utility said in a statement yesterday that it had followed “an open and competitive bidding process and subsequently underwent a comprehensive bid evaluation procedure” in Transnet Freight Rail’s (TFR) award of security service contracts to five security service providers. Transnet said it had noted “with concern” recent media reports about the outcomes-based security (OBS) solution to combat theft and vandalism on the TFR rail network. The contracts for the security service providers (SSPs) to service its rail transport corridors were to support TFR’s ability to…

WHILE herbs and spices are known for their flavour and health-giving properties, another aspect recognised for centuries is that many have aphrodisiac qualities, too. For the greatest pleasure of all epicureans, chef Cândida Batista suggests you discover natural aphrodisiacs to give your love life that perfect lift. With her unique expertise and passion for flavours, Batista is taking the exploration of culinary aphrodisiacs to new heights. “Culinary aphrodisiacs are a fascinating area of culinary arts that can elevate a meal into a truly memorable experience. By understanding the sensual qualities of various spices and how they interact with our senses, we can create dishes that taste incredible and stimulate our desires. “Within the realm of culinary mastery, spices serve as the silent architects, bestowing depth and complexity upon each dish…

Marinade 5ml Rajah All-In-One Curry Powder 10ml Rajah Hot Curry Powder 5ml dhana powder 2,5ml freshly cracked black pepper 5ml salt Curry 1 whole chicken cut into pieces 30ml tomato paste 125ml fried onions 125ml plain yoghurt 60ml ghee 5ml jeera seeds 1 chilli slit 4 tomatoes chopped 2,5 ml sugar 6ml freshly made ginger 5ml crushed garlic 2,5ml bunch dhanya sliced ginger for garnish Marinate your chicken in all your spices, 2.5ml (½) of the dhania powder, tomato paste, onions and yogurt. Allow to marinate for a few hours. Place a flat pot on medium high heat, add in your ghee, once your ghee is melted add in your jeera seeds and chilli, cook for a few seconds before adding your marinated chicken. Allow to cook…

A former Sanlam employee was debarred as a broker after the Financial Services Tribunal (FST) found that he acted dishonestly by providing misleading information when insuring his brother’s house. The man was employed by Sanlam Life Insurance Limited as a broker on contract through Sanlam’s Short-term partners, Santam and MiWay. His brother had a policy with Sanlam. On October 18, 2022, at 8am, a sheriff of the court arrived at a house in Springs to execute an eviction letter on behalf of a Sanlam policyholder, the brother to the broker. Immediately after the sheriff had spoken to the tenant, the tenant went back into the house and set it alight. The fire department was called at 8.12am and the owner of the house was informed about the incident and arrived…

IT was not that long ago when then-Springbok head coach Jacques Nienaber raised a few eyebrows when he made 18 changes to his match 23 ahead of a Test against Wales in Bloemfontein in July 2022. At the time many questioned the wisdom of such rotation after the Boks narrowly won the first clash 32-29 a week earlier at Loftus Versfeld. The justification for the selection by Nienaber and Co was the need to build depth in the squad for the Rugby World Cup a year later. What followed on the sprawling field of the Free State Stadium was a disjointed performance, and the first victory for the Red Dragons in South Africa – a narrow 13-12 win. In making 10 changes to the match 23 that dismantled the Wallabies…

An Information Regulator investigation into a complaint against the Ombudsman for Short-term Insurance’s failure to release information to a complainant has raised questions about the independence of the scheme that is supposed to be an impartial arbiter for consumers. Forensic expert Stan Bezuidenhout, who assists clients facing insurance repudiations, said he had sought data from the ombud scheme, but his request was met with “hostility and accusations”. He wanted additional data because “as more of my clients have engaged with the Ombudsman, a worrying sentiment has emerged. Increasingly, they express dissatisfaction with the Ombudsman’s efforts, feeling the office may be more aligned with the interests of insurers than with those of consumers.” Clients had described interactions where they felt the Ombudsman “acted as a guardian for the insurance industry”. Areas…

Before initiating a project, it’s critical to ensure that construction adheres to the South African National Standards (SANS) 10400. The regulations ensure the safety, health, and sustainability of buildings. Compliance begins with a clear understanding of regulatory obligations, ensuring that the construction entity and individuals involved are competent and qualified. SANS 10400 mandates that buildings must be structurally sound and capable of withstanding various forces, including wind. The regulations also emphasise space requirements, accessibility and ceiling heights to ensure the building’s intended purpose is achieved efficiently and comfortably. Public safety, particularly fire safety measures, is key here, along with proper demolition procedures to prevent accidents and minimise environmental impact. Safe construction site practices, including security, waste disposal and erosion control, are also considered essential. By diligently applying these regulations to…

SHOPPING activity has given a significant boost to the second quarter’s economic growth in South Africa as retail trade sales surged to a near 2-year high in June, mainly driven by textiles and clothing. Data from Statistics SA (Stats SA) yesterday showed that retail sales increased by 4.1% year-on-year in June following an upwardly revised 1.1% rise in May. This marked the fourth consecutive month of increases in retail activity, with the growth rate at its strongest since July 2022. This also means that the economy stands to avoid entering a technical recession in the second quarter as real gross domestic product (GDP) growth experienced a 0.1% contraction in the first quarter. Stats SA’s deputy director for distributive trade statistics, Raquel Floris, said the general dealers retail group, which includes…

South Africa has distinguished itself as a leader in supporting women-owned businesses and providing formal backing for women entrepreneurs. According to the latest Mastercard Index of Women Entrepreneurs, South Africa achieved a score of 54.9, ranking just behind Botswana, which leads with a score of 56.3. This places South Africa as the second highest in Africa for both the proportion of women-owned businesses and the level of formal support available to female entrepreneurs. This is attributed to factors such as increased access to education, government support programmes, and a growing awareness of women’s economic empowerment. However, gender gaps in entrepreneurship still persist as South African women’s total early-stage entrepreneurial activity is sitting on an average of 16% compared to 19% for men. Women like Phuti Mahanyele, the CEO of Naspers…

HIGHLY anticipated South African short film B(l)ind The Sacrifice, directed by Nakhane, premiered at the Locarno Film Festival in Switzerland last week. The film brings together three award-winning filmmakers: Nakhane, Cait Pansegrouw and Elias Ribeiro of Urucu Media. South African Nakhane is a celebrated musician, actor and novelist, globally renowned for their captivating performance in “Inxeba” (The Wound), which was South Africa's submission for the Oscars in 2018. Nakhane now takes on a new role as both writer and director; Pansegrouw and Ribeiro are seasoned producers internationally known for their many award-winning films such as Inxeba, Train of Salt and Sugar, This Is Not A Burial, It's A Resurrection, Necktie Youth, and many others. The creative partnership has produced B(l)ind The Sacrifice, a timely exploration of masculinity, patriarchy, and power,…

Party has undergone a lamentable erosion of its socialist ideological underpinnings A PROFOUND rift has emerged within the South African Communist Party (SACP), as recently its KwaZulu-Natal wing has boldly demanded that the ANC sever ties with the DA in the Government of National Unity (GNU). Themba Mthembu, provincial secretary, has denounced the alliance as “unholy” and threatened to abandon the ANC if it persists in the partnership, potentially contesting future elections independently. This stance diverges from SACP Secretary General Solly Mapaila’s earlier pronouncements, which, while scathing in their criticism of the ANC-DA union, stopped short of advocating for a divorce from the alliance. This apparent dichotomy within the SACP reveals a party in introspection, grappling with its role in a shifting political landscape. The SACP’s predicament with the ANC…

IN a previous life, Springbok coach Rassie Erasmus had a favourite catchphrase whereby his team had to “earn the right to go wide”. In a literal sense, it meant that the forwards had to do the hard yards before the ball could be spun out to the backs in a bid to score tries. Oh, how the Erasmus of 2024 must now cringe listening to his younger self’s conservative and insecure ways. But be that as it may, that was virtually the same description Proteas Test captain Temba Bavuma used to describe his team’s approach to the second and final Test against the West Indies starting in Guyana today (4pm SA time). After playing to a draw last week in Trinidad and Tobago – the first occurrence in 28 Test…

Stellenbosch FC coach Steve Barker has painted a picture of what their CAF Confederation Cup campaign means for the club this season. Stellies will make their debut in African football when they visit Nsingizini Hotspurs in the first preliminary round at Moses Mabhida Stadium on Saturday (3pm start). The Cape Winelands-based side qualified for the continental showpiece after an impressive campaign last season when they finished third on the log. And while some deemed that as a run of good fortune, thanks to the individual brilliance of players such as Iqraam Rayners, Stellies started this season’s MTN8 campaign on a high as they came from behind to beat TS Galaxy 3-1 in the quarter-final to book a date with Mamelodi Sundowns in the two-legged semi-final. Barker, though, is not thinking…

INVESTING in shares can be daunting, especially for those who are new to it. With an array of companies, industries and market conditions to consider, how does one make sense of it all? The answer lies in mastering the art of equities analysis, and a crucial aspect of this skill is understanding key ratios and metrics. Financial ratios are like the vital signs of a business. They tell how healthy or unhealthy a company is. Imagine you are considering investing in two companies, A and B. Both seem promising, but digging deeper reveals a stark contrast. Company A boasts impressive revenue growth year over year; Company B struggles to maintain profitability despite high sales. What’s the difference? It boils down to analysing the right ratios. Although the ratios alone are…

“The essence of success is to continuously evolve and adapt in a rapidly changing world” – Dr Iqbal Survé Young South African entrepreneurs face unprecedented opportunities and formidable challenges. To navigate the complex landscape and drive their ventures towards success, the innovators should seriously consider forming strategic partnerships with Chinese corporations. Such collaborations offer a path to accelerated growth, technological advancement and expanded market reach. China’s emergence as an economic powerhouse has been fuelled by its formidable infrastructure, technological prowess and extensive market reach. For South African entrepreneurs, aligning with Chinese firms can provide access to the critical resources. Chinese companies are at the forefront of numerous industries, from technology and manufacturing to e-commerce and green energy. By partnering with them, South African start-ups can integrate cutting-edge technology and operational…

MTN Rwandacell, a subsidiary of the South Africa-based MTN group, said its total subscribers increased by 7.5% to 7.5 million in the six months to June 30, but profit after tax decreased by -307.1% to -Rwf10.5 billion, impacted by a lower Ebitda, an increase in depreciation on tower leases driven by the roll-out of additional sites and local currency depreciation. Earnings before interest, tax, depreciation and amortisation (Ebitda) fell 29% to Rwf39bn. Active data subscribers increased 0.6% to 2.3 million. Active Mobile Money (MoMo) subscribers increased by 15% to 5.1 million. Service revenue increased by 0.8% to Rwf121.5bn. The macroeconomic environment in Rwanda was expected to remain relatively stable in the second half, CEO Paula Bodibe said in a statement. She said the local currency depreciation against the US dollar…

Northam Platinum expects currently depressed prices of the precious metal to persist, ratcheting up pressures on the platinum group metals (PGM) industry that is already battling rising costs, prompting the South African miner to focus on cost containment in the year ahead. The company said yesterday that it will prioritise cash generation and preservation in its current operating year. In the year to June, in which it has warned that headline earnings per share (HEPS) will likely fall by at least 76.6% to between 324.3 cents and 565 cents per share, Northam generated R3.5 billion in cash from operations. After warning that it expects HEPS for the full year to plunge, shares in the company were trading 3.69% weaker in afternoon trade on the JSE yesterday. Market analyst MarlieChunger (@JSE_Invest),…

To embark on a bodybuilding journey, individuals should start with a clear fitness goal and seek guidance from fitness professionals and trainers. It’s essential to create a structured workout plan that includes specific resistance exercises targeting various muscle groups. Nutrition plays a critical role in bodybuilding, so a balanced diet rich in protein, complex carbohydrates, and healthy fats is crucial for muscle recovery and growth. Adequate rest and recovery are also essential components of bodybuilding to prevent overtraining and promote muscle repair. It’s important to listen to the body and prioritise recovery through quality sleep, hydration and stretching exercises. Exemplifying these traits is Kaique Santos, a former commercial manager, who has taken the bodybuilding world by storm, rising through the ranks with astonishing speed and determination. Asked about his incredible…

Two of the men accused of being part of the looting spree at VBS Mutual Bank are so set on enforcing what they deem to be their constitutional rights that they are prepared to go to the Constitutional Court – an exercise which could delay the trial for years, the Gauteng High Court, Pretoria, was told. The 13 accused were back in court to hear arguments on behalf of former ANCYL leader Kabelo Matsepe and former provincial ANC treasurer Danny Msiza for either a temporary stay of prosecution or a separation of trials. Their advocate, Shaun Abrahams, told Judge Peter Mabuse that his two clients had approached the Supreme Court of Appeal (SCA) to obtain permission to appeal against Judge Mabuse’s earlier refusal to order the State to issue the…

The Inaugural National Ensemble Competition hosted by Rustenburg Girls’ Junior School brought together 43 ensembles, bands, and orchestras from across South Africa, featuring over 600 talented learners from Grades 4 to 12. Sponsored by Trinity College London, the competition was held from August 8 to 10, showcasing the rich musical talent present at the nation’s schools. Winners in the Junior categories included Rustenburg Girls Flute and Cello Trio in the A1 category, Sweet Valley Primary Band in the C1 category, and Cornwall Hill Junior Orchestra in the D1 category. Senior category participants demonstrated exceptional skill and winners and runners-ups included Outeniqua High School Jazz Band, IMAD Kayelitsha, Hugo Lambrechts Symphony Orchestra, and NPO Muzukidz among others. “Music has been an integral part of Rustenburg Girls Junior School for the past…

Manchester United have signed Dutch centre-back Matthijs de Ligt and Morocco fullback Noussair Mazraoui from German side Bayern Munich on a contract until June 2029 and June 2028, respectively, the Premier League club announced on Tuesday night. The financial details were not disclosed by either club, but British media reported that the pair were signed for a combined fee of more than £50 million. The contract includes the option to extend for a further year for both players, United said. The pair started their youth careers at Dutch side Ajax Amsterdam, and went on to play under current United manager Erik ten Hag in the first team. The 25-year-old De Ligt won the Eredivisie in the 2018/19 season with Ajax, the Serie A title in 2019/20 with Juventus and the…

SINCE making his Ultimate Fighting Championship (UFC) debut in Abu Dhabi four years ago, Dricus du Plessis has dominated the middleweights and bulldozed his way to become the undisputed champion of the division. This weekend, the South African is set to defend his title for the first time when he clashes with the best fighter the division has ever seen, Israel Adesanya – who is from Nigeria, but fights out of New Zealand – at UFC 305 at the RAC Arena in Perth on Sunday. Du Plessis will have the Springboks for company in Western Australia, as the world champions face the Wallabies in Saturday’s Rugby Championship clash at Optus Stadium, and some of the players will attend the bout. We picked five advantages Du Plessis has in the match-up…