Cape Times 2021-09-13

EDWARD WEST edward.west@inl.co.za Dubai-based DP World has made an opportunistic, R12.7 billion offer for Imperial Logistics considering the good prospects of the Pan-Africa integrated market access and logistics solutions provider, but analysts disagree whether the valuation is fair. According to PSG Asset Management fund manager Justin Floor, the bid is too low. Floor said in a phone interview on Friday that they owned some 7.5 percent of Imperial’s shares on behalf of investors and planned to vote on the DP offer in the imminent shareholders meeting this Friday, with a longer-term perspective of the company. Another stock exchange analyst, who chose to remain anonymous, however, did not agree with Floor and said the DP World offer was fair considering the downside risks and length of time that was likely…

BETTER-than-expected economic growth data for South Africa during the second quarter and the appetite for the rand by foreigners saw the currency moving stronger for the second consecutive week. Foreign demand for the rand increased last week as the inflation rates for a lot of other emerging countries is increasing strongly. For instance, in Brazil the inflation rate had increased to 9 percent. In Turkey, the inflation rate had risen sharply to 19.25 percent, and in Russia, to 6.5 percent, well above the target of 4 percent. In South Africa, inflation remains within the targets and the rand now becomes attractive for foreign investors. The stronger economic growth of 1.2 percent during the second quarter, on the back of the 1 percent growth in…

Banele Ginindza banele.ginindza@inl.co.za THE GOVERNMENT’S insistence of the centralising of procurement for the Covid-19 pandemic’s vaccines and PPEs threw a spanner in the works of the Competition Commission’s efforts to regulate as the bureaucracy added multi-pronged dimensions of un- qualified suppliers, doubtful quality supplies and corruption, the commission said on Friday. At a Competitition Commission webinar outlining its work over the past 18 months of the pandemic, commissioners said a progress survey conducted after the first wave revealed how the centralising was not of benefit to the concerted efforts. “Procurement of vaccines could have been done by individual companies or hospitals, but government decided to centralise the processes to keep tabs on how much vaccine stock there was. “There were instances where there were complaints about the quality of PPEs…

Banele Ginindza banele.ginindza@inl.co.za ONLINE shopping in South Africa is on target for becoming the R63 billion- a-year industry by 2025 after taking broadsides from the July looting that saw volumes patter down and suppliers suffer stock losses and logistic bottlenecks. According to Euro Monitor, which did a survey among major retailers offering e-commerce trade, an 18 percent growth trajectory was being achieved a week before the looting, but numbers dwindled sharply thereafter, putting the industry into a tailspin that it is only now recovering from. Stock-keeping-units (SKU) figures for Pick n Pay (PNP), Game Stores, Woolworths, Clicks and Macro depict that the retailers held on by the skin of their teeth, and were now back on the growth path. Pick n Pay tracked 3…

Marchelle Abrahams marchelle.abrahams@inl.co.za DJ Zinhle and boyfriend Murdah Bongz have welcomed the birth of their baby girl. Sunday World reported that Zinhle gave birth via C-section, and according to a source “she has been blessed by another girl and she could not be happier”. The 37-year-old’s daughter, Kairo Forbes, hinted that her mom may have given birth with an adorable photo shoot of the two, captioning the IG post “Reporting for BIG SISTER duty!” In what seems like a baby room, Kairo shared a mother and daughter image. Kairo couldn’t hide her excitement since DJ Zinhle made a public announcement about her pregnancy in a video clip on Instagram. The big sister commented on her mother’s post from her Kairo Forbes account, which is run by her grandmother, Lynn Forbes,…

Gerry Cupido geraldine.cupido@inl.co.za Mother and daughter-in-law wars are such a cliché that even movies have been made about it. These movies will usually portray the mother-in-law as an evil, conniving, over-protective mother, desperately trying to prevent her precious son from marrying a woman she doesn’t think is good enough for him. Then there’s the poor defenceless bride-to-be who’s always doing her best to plan the perfect wedding and keep her husband-to-be happy without portraying his mother to be a wicked witch. These are not fabricated scenarios, but situations many real-life brides find themselves in. Weddings, even with the happiest union, can be stressful. Anything can go wrong and often many things do! Unruly guests, family scandals or an ill-fitting wedding gown are just a few things that can upset even…