Table of contents for 2023-03-17 in Star

TRANSACTION Capital’s share price continued to sell-off yesterday, falling 39.86% to close at R8.78on the JSE yesterday, with the market capitalisation now down by R11.7 billion since Monday. On that day the share price opened at R28.13, but the price fell sharply after the group, which controls the WeBuyCars used vehicle operation, the SA Taxi vehicle financing operation and international business outsourcing solutions group Nutum, released a trading statement warning core earnings per share for the six months to March 31 were expected to fall by more than 20%, but no more than 50%, compared to 2022’s first half. The share price may also have been affected by the group on the same day refuting speculation in the press and among some shareholders about CEO David Hurwitz’s sale of…

TRANSPORT sector labour unions have called for an end to South Africa’s austerity Budget and called for more robust improvements in transport infrastructure. Labour also wants subsidies for the sector that transports workers to production sites, warning that current policies would only end up with the overthrow of the government. At least 500 delegates from 90 countries and 185 national trade unions at an ongoing six-day conference of the International Transport Workers Federation (ITF) held in Kempton Park debated strategies to deal with the challenges facing the railway, road and urban transport industries, including chronic underinvestment, cuts to services, privatisation and decarboni- sation. The underlying factor for most African labour unions was that the austerity measures adopted by countries, including South Africa, to contain costs worked contrary to the interest…

After months of preparation, over 40 groups representing various communities from across Cape Town, will march, dance and sing their way down Green Point’s Somerset Road tomorrow. Prepare to be amazed by large floats and an array of colourful entertainers conjuring up the unique spirit of “Afr’energy”– this year’s theme. Tracey Carter, Cape Town Carnival’s performance director, said: “I’m so excited to see these young people take to the streets because they’ve been working so hard. “It’s been a busy few months but I know it’s going to pay off. “It’s going to be amazing to see the city come to life in such a vibrant way and to share some hope and joy. “We want the audience to enjoy themselves and to be inspired about what our city and…

While the EFF will stage a nationwide strike on Monday, former president Jacob Zuma’s son, will hold a protest of his own in Nkandla. Like the EFF, Edward Zuma, clad in full ANC regalia, will be demanding that President Cyril Ramaphosa resign and for an end to load shedding. He has been a fierce critic of Ramaphosa since his father’s brief jailing for defying the Constitutional Court’s order to appear before the Zondo Commission. Zuma jr hogged the news in 2021 when he said that the police would have to kill him before he would let them arrest his father. However, his father handed himself over to law enforcement and was jailed. Edward was also vocal about Ramaphosa’s Phala Phala farm scandal, saying that the president should fully account…

THE newly appointed Minister of Sport, Arts and Culture, Zizi Kodwa, has brought a semblance of hope to the creative industry after a sit-down with veteran actress Connie Chiume. Kodwa attended the 6th Royal Soapie Awards, where he met Chiume, who expressed interest in engaging with him on issues in the creative sector. He admitted there has been “no consideration demonstrated” for the economy of the creative industry, something the department aims to change. On Wednesday, Kodwa sat down with Chiume, who related how her career started during apartheid and advanced under the democratic dispensation. While the Gomora actress believes a lot has changed, she highlighted that more needs to be done by the department on the rights of the creative sector. Addressing the media, Kodwa said: “I must admit…

Imagine waking up every day with the thought: “Today I choose to be happy.” This might seem impossible to achieve but the science of psychology proves that everything in life is possible. My hope is that all my readers will seek and find happiness at some stage of their lives. For now, think back to a time you were happy. After reading the article, revisit the memory, with new insight, using the advice given on how to shape your brain towards greater happiness. Well, what gave you this feeling of happiness during this time? Modern science indicates that the concept of happiness refers to a sense of deep contentment and satisfaction. Happiness is the state of an individual’s well-being that is not long-lasting. It changes in accordance with our state…

ARSENAL’S defeat by Manchester City in the FA Cup fourth round in January may turn out to be a blessing in disguise as on Sunday they have the chance to open an eight-point lead over City in the Premier League title race. City have gone on to reach the quarter-finals and will face Championship leaders Burnley tomorrow, then will be keeping their fingers crossed that Crystal Palace can do them a favour and halt Arsenal’s charge 24 hours later. Arsenal will host a Palace side without a win in any competition in 2023 and will see it as a gilt-edged chance to really turn up the heat on Pep Guardiola’s champions. Eight points ahead, albeit from one game more, would be a sizeable cushion for the Gunners to take into…

Irrelevant – and to an extent, suicidal – bonus-point rules in the 4-Day Series are partly responsible for the struggling new crop of Test match batters, says former Proteas performance analyst Prasanna Agoram in reflection of his third season working in domestic cricket. South African Test batters have scored only four centuries in the ongoing World Test Championship courtesy of Sarel Erwee, Kyle Verreynne, Aiden Markram and Temba Bavuma. As another domestic season comes to an end, Lions cricket performance analyst aired his frustration over the narrative that there’s no quality cricketers on show in domestic cricket. Agoram was involved with the Proteas for over a decade before joining the Lions. It was only a matter of time before Agoram decoded the root cause of the problem. “It’s the rules…

THE Currie Cup might be battling for relevance at the moment in a congested rugby schedule, but it remains a special tournament that is engrained in the very fabric of South African rugby. The second round of the 2023 domestic seasons commences today when the defending champion Pumas host the Lions at Mbombela Stadium in Nelspruit (kick-off 5pm) followed by the Blue Bulls v Western Province at 7pm. The weekend’s action completes on Sunday with the Griffons v Free State Cheetahs and Griquas v Sharks. So, while the tournament is currently playing second fiddle to the Six Nations this week, and slots in around fixtures that prioritise the United Rugby Championship (URC) and EPCR tournaments, it remains an important breeding ground to blood young players. That was certainly the view…

NAMPAK’S shares closed 7.53% up on the JSE yesterday after the packaging firm appointed three directors to its board to help navigate the debt-laden firm out of troubled financial waters. Shareholders were advised that the board of Nampak had appointed three new directors with effect from March 15: Tjaart Kruger, Phildon Roux and André van der Veen. The appointments were also hailed yesterday as a victory for shareholder activism. Shareholders representing roughly 40% of the shareholding in the group have pushed for a board shake-up over the past few months amid unhappiness at the company’s direction. The Three Musketeers are perceived as right for the job of turning the firm’s fortunes around. As a result the shares closed on R1, basically getting a high five from happy market investors. The…

THE COST OF living in South Africa is expected to firmly stay elevated with headline inflation above the 6% upper limit for the remainder of the year before slowing next year. This is according to the Inflation Expectations Survey for the first quarter of 2023 conducted by the Bureau for Economic Research (BER) at the Stellenbosch University. The 2023 first quarter survey of financial analysts, business executives and representatives of the trade union movement was conducted between February 20 and March 9. The BER yesterday said the average inflation expectations for 2023 and 2024 increased by 0.2 percentage points, relative to the fourth quarter of 2022. BER economist Nicolaas van der Wath said these groups were forecasting inflation to average 6.3% in 2023 and 5.8% in 2024, before it subsides…

PPC SAID YESTERDAY that lower disposable incomes and no major increase in infrastructure spending had impacted its operations in the 12 months to March 31. The share price fell sharply by 8.93% to R2.65 at the close of the JSE yesterday. The cementitious product producer said in an operational update yesterday that demand, however, continued to grow in its two other major markets, Zimbabwe and Rwanda, supported by infrastructure spending and retail demand in both countries. The common factor across these markets was a significant increase in input costs due to rising energy costs. Deleveraging remained a priority in South Africa and Botswana and net debt in the region was expected to fall to between R725 million and R775m at year-end, from R1.08 billion at March 31,…

Suspended Public Protector Busisiwe Mkhwebane yesterday addressed the parliamentary committee investigating her fitness for office on what her lawyer, Senior Counsel Dali Mpofu, described as the “meatier issues” of her evidence. Mpofu, who set the scene for her evidence on Wednesday, got into the issue of the CR17 report on President Cyril Ramaphosa’s 2017 campaign bank statements involving state prisons contractor, Bosasa. Mkhwebane gave the background of how the complaint got to her desk. She said she received two complaints on the issue, one from then-DA leader Mmusi Maimane and another from EFF MP Floyd Shivambu. The complainants claimed that the president had misled Parliament and had breached the Ethics Code when he told it that Bosasa (later Africa Global Operations, AGO) made a payment of R500 000 not to…

HIGH school pupils are set to receive life-changing practical and critical skills aimed at making them real problem-solvers and skilled youth in the era of the 4th Industrial Revolution. This after Gauteng Education MEC Matome Chiloane launched the multi- certification skills programme held at the Katlehong Engineering School of Specialisation on Wednesday. Among the skills that form part of the programme are sign language, coding, bricklaying, robotics, driving, drone technology and artificial intelligence. Chiloane said the Multi-Certification Skills Programme is a learner- focused skills programme designed to ensure every pupil in the province acquires a minimum of one accredited skill per academic year from Grades R to 12, accumulating 13 skills certifications when they exit the schooling system. The MEC added that for technical schools, the skills programme would provide…

In Cape Town, M&C Saatchi Abel opened the first Street Store in January 2014 – a rent- and space-free pop-up store that provided homeless people with a respectable, cost-free shopping experience. Since then, the “Force for Good” programme from M&C Saatchi Group South Africa has expanded and has opened in more than 210 locations worldwide. The not-for-profit project, which is totally open-source and adaptable anywhere in the world, is thought to have benefited over a million people worldwide. The Street Store will have its 1 000th event this year on December 10 at the Haven Night Shelter in Cape Town and the Salvation Army in Johannesburg. “Homelessness is a universal issue, and the Street Store concept was made with this in mind. We understood that there was a significant problem…

Thato Molamu is known for multiple robust screen roles, and with his immense experience in the creative industry, he has learnt to lower the ladder for others to climb their way up and thrive as well. The renowned actor unpacks his career journey, how he pioneered an academy, and his aim to assist rising creatives in their career aspirations. Molamu launched his career in the entertainment industry and became memorable for his remarkable portrayal of Nicholas on Generations, dominating screens beyond the South African shores. The actor speaks about his skills academy, Leaders In Motion Academy (lima), which was initiated in 2018 with Gateway, and the end goal of equipping creatives with film and digital skills. “I think it was important for us as Gateway to say, how do…

The suspended national strike by the public sector – especially the health sector where the medical health providers, such as the nurses and other health employees are striking over the issue of salary increment – has caused so much outcry and devastation among communities, that the government needs to intervene. The unions representing the workers are demanding the government must give them a 10% salary increase, as well as housing allowances to satisfy the needs of all its members. Instead of doing any good, the national protest by the public workers has caused much damage and also destroyed many lives. In many government hospitals and clinics there have been reports of patients having been turned back from accessing help at these medical institutions. The suspended strike has even caused loss…

HUGO Broos says it’s not good for South African football to only have one team from the traditional big three clubs producing players for Bafana Bafana. These sentiments came after the Bafana coach yesterday named his final 23-man squad to face Liberia in back-to-back African Cup of Nations (Afcon) qualifiers this month. Mamelodi Sundowns have eight players in the squad compared to arch-rivals Orlando Pirates (four) and Kaizer Chiefs (zero). “When you have players from one team, that’s not working against me. But like I said, when you have players from the same team that means you don’t find the quality somewhere else,” Broos said. “And that’s not good for South African football. It’s not good that teams such as Pirates and Chiefs, who are big teams in this country,…

MAX Verstappen may start as favourite, but Fernando Alonso will have widespread popular support this weekend when the Formula One season resumes at the Saudi Arabian Grand Prix. After his dashing and surprising podium finish behind the two Red Bulls at the season-opening Bahrain GP two weeks ago, the 41-year-old Spaniard has played down high expectations of a repeat in his sleek new Aston Martin. But he knows that the high-speed Jeddah Street Circuit – a thin hair-clip of asphalt squeezed above a lagoon on the a 12 kilometres north of the city – offers a very different challenge to man and machine. “I think that we found, in Bahrain, that we were strong in things that maybe we won’t have in Jeddah, or in Melbourne,” he explained. “So, if…

The JSE All Share index fell below 72 600 points, in an 8-day losing streak THE SOUTH African stock market plunged to a four-month low yesterday amid recent turbulence in the global financial system and the looming national shutdown in the country. The JSE All Share index in intraday trade fell below 72 600 points, pushing its losing streak to eight days, led by resource-linked stocks. Later it managed to regain ground ending at 72 905.50 points. Wall Street’s main indexes fell yesterday after the European Central Bank raised its key policy rate despite fears of a global banking crisis, fuelling concerns that the Federal Reserve could also tighten monetary policy for longer, Reuters reported. Meanwhile, the rand moderated around R18.38 to the US dollar as risk appetite…

AFRICAN Rainbow Capital (ARC) Investments, which maintained a steady value to its portfolio in the six months to December, said Rain would soon launch a mobile service, using spectrum gained in the recent government spectrum auction, co-CEO Johan Van Zyl said yesterday. Rain is the key asset in the portfolio of the empowerment investment holding company ARC Investments, and its 20.3% interest in the telecoms group was valued at R3.64bn. Van Zyl said the telecom industry had been affected by load shedding and battery theft, which led to rising costs. However demand and sales remained robust. He said Rain was already well-positioned as a low-cost data provider. Rain’s earnings before interest tax depreciation and amortisation was on track to exceed R2 billion over the year to February 2023, said…

Former CEO of Artscape Michael Maas died on March 14, at the age of 67. Artscape management said: “Artscape mourns the loss of our beloved former CEO Michael Maas who sadly passed away. Born on November 1, 1955, he died peacefully on March 14.” Maas stepped down as the CEO of Artscape in October 2014 after being with the theatre company for 18 years. Current Artscape CEO Marlene le Roux said she was shattered and saddened by the news of Maas’s death, along with the Artscape family. A memorial was hosted at the Artscape in honour of Maas. Le Roux served under Maas’s tenure as the director of audience development and education before appointed CEO in 2015. “What a sad day for all of us,” Le Roux said as Artscape…

Cope’s Gauteng chairperson Tom Mofokeng said the party was annoyed with its former member and ex-Tshwane mayor Murunwa Makwarela for getting involved in the election of a new mayoral candidate in Tshwane. Mofokeng said Cope received information that Makwarela had been forcing the election of a certain Cope member to become mayor. The candidate was believed to be Makwarela’s neighbour and would protect his commercial interests in the City of Tshwane. Makwarela is believed to have a company that is doing business with the municipality. Makwarela was elected Tshwane mayor two weeks ago after the resignation of Randall Williams last month. However, due to financial issues, he only served as mayor for a brief period, after being found to be insolvent and unable to continue serving on the…

It’s a very good point being made by the former Johannesburg mayor and leader of the newly formed political party ActionSA. Herman Mashaba has urged the South African government to relook its approach in dealing with the crisis in Zimbabwe. It is clear if you want to kill a tree, you must dig up the tree by the root, not cut the branches because they keep growing. Clueless, careless and corrupt Zanu-PF is the major problem, because of misleading the country. Thousands of Zimbabwean children cross the South African border each day without passing official check points, according to Save The Children. Many have travelled unaccompanied from all over Zimbabwe and risk exploitation and abuse from taxi drivers and smugglers who steer them into debt and forced labour. Girls are…

AFTER having spent much of her formative and teenage years in hospital seeking treatment and then in remission for cancer until 17, a young woman’s dream of following in the footsteps of her paediatrician has been realised. In Grade 9, Nosiphiwo Mandla, now 33, had shared with her childhood paediatrician, Dr Abe Daniels, 73, her dream to become just like him. At 7 months old, Gqeberha-born Mandla was diagnosed with acute lymphoblastic leukaemia by Daniels. She was sent to Red Cross Children’s War Memorial Hospital on a mercy flight for further evaluation and induction of chemotherapy. Her age had placed her in a high-risk category with the caution that the treatment might not be successful. Doctors advised for her to continue treatment at Livingstone Hospital, where Daniels headed the Paediatric…

FORMER Wales fullback Lee Byrne said his former side face a “huge task” tomorrow as they head to defending champions France in the Six Nations. Les Bleus claimed a record 53-10 victory at Twickenham last weekend and can retain the trophy with a bonus-point win at Stade de France if Ireland fail to claim a point against England in Dublin later in the day. Wales’ only victory of the tournament in coach Warren Gatland’s second spell came last weekend in Italy. “A win’s a win, I bet Gatland’s relieved; the players are happy, no wooden spoon,” Byrne said on Tuesday. “There’s no pressure on us at all. The task ahead is huge and the players will know that.” Wales’ campaign, and Gatland’s return as coach, has been marred by off-field…

THIS year will be the first time in history that the All Blacks enter a World Cup as dark horses, but Springbok enforcer Eben Etzebeth says only a fool will discount the New Zealanders. The Kiwis have been favoured to win every World Cup since they hosted the first tournament in 1987, and while they have won three of the nine World Cups that have been played, they have flattered to deceive in six of them. That has been because the All Blacks are masters of peaking at the wrong time. They tend to blow everyone away between World Cups, only to corpse on the big stage. This year, nobody can accuse them of having peaked too early and they will go to France on the back of their most…