Table of contents for 2024-12-10 in Star

Italtile, the home improvement and building materials retailer, distributor, and manufacturer, yesterday said it continued to trade in an environment of deflationary pricing and margin pressure in the five months to November 30, and sales growth was slim. There was increased retail competition, and many retailers, wholesalers, and manufacturers remained over-stocked, the group said in a sales update yesterday. Many commentators believe the formation of the Government of National Unity, fuel price cuts, lower inflation, lower interest rates, and the two-pot pension payouts have improved the financial lot of many consumers. However, the group said: “Although there are early signs of green shoots, the sustainability of this trend has yet to be proved.” “The economic stimulus afforded by these developments will take time to filter through and significantly improve demand…

South Africa will use its Group of Twenty (G20) presidency to secure urgent progress on shared goals through several priority actions such as strengthening disaster resilience and response, ensuring debt sustainability for low-income countries, mobilising finance for a just energy transition, and harnessing critical minerals for inclusive growth and development. This was said by Minister of International Relations and Co-operation, Ronald Lamola, at the first G20 Sherpas Meeting in Johannesburg. The Sherpa Track is led by the personal representatives of G20 leaders, and oversees negotiations and discusses the points that form the summit’s agenda, and co-ordinates most of the work. This comes as South Africa commenced with the first engagement of the more than 130 meetings that will precede the G20 Summit in November 2025 after assuming the G20 presidency…

South Africa’s trade outlook has remained modest so far this year and could have seen economic growth leaping higher than expected had it not been for logistical constraints experienced by Transnet holding back performance. This comes as South Africa has recorded a substantial trade balance of R116.1 billion this year to date versus last year to October’s cumulative R30.2bn comparison as commodities prices have risen versus last year, with a stronger rand and a stronger term of trade. Investec chief economist Annabel Bishop yesterday said some improvements on Transnet’s port congestion and rail freight capacity played a modest role as payload volumes increased slightly, but capacity constraints at Transnet overall remain dire. S&P Global Ratings recently placed Transnet on a credit watch. A credit watch is a precursor to a…

An array of popular apps are offering AI companions to millions of predominantly female users who are spinning up AI girlfriends, AI husbands, AI therapists — even AI parents - despite long-standing warnings from researchers about the potential emotional toll of interacting with humanlike chatbots. While artificial intelligence companies struggle to convince the public that chatbots are essential business tools, a growing audience is spending hours building personal relationships with AI. In September, the average user on the companion app Character.ai spent 93 minutes a day talking to one of its user-generated chatbots, often based on popular characters from anime and gaming, according to global data on iOS and Android devices from market intelligence firm Sensor Tower. That’s 18 minutes longer than the average user spent on TikTok. And it’s…

Transaction Capital, which had earlier warned it would report sharply lower earnings, losses even, for the 2024 financial year, said its results announcement, which had been due to be published yesterday, had been delayed. The share price fell sharply by 5.36% to R2.65 by early yesterday afternoon. It said in an announcement that its results for the year to September 30, 2024 were ready, but the preparation of certain notes to the statements had been delayed largely as a result of changes relating to its taxi financing subsidiary SA Taxi. SA Taxi was included under discontinued operations for the financial year 2024. In an earlier trading statement, the group forecasted headline earnings per share to be between -18.4 cents to 1.1 cents, representing a decline of -109% to -99% from…

Following a string of chart-topping hits and an international tour in 2024, Frigid Armadillo feels “hungrier” than ever before as the year draws to a close. The musical duo, which comprises Lebo Lechela and Siyabulela Buhlungu, added that they are thrilled to see what 2025 has in store for them. “We’re at a point in our lives where we feel like we’ve laid the groundwork for easy access,” they said in a recent interview. “We don’t want to be complacent with the opportunities we’ve been given so while we are cautious, we are hungrier than ever for new challenges.” The Afro-house duo, who met while studying in Johannesburg, have earned widespread acclaim since they released their debut album, Roam in a Day in 2020. This offering received praise from the…

Tensions rise within the GNU over Bela Act THE ongoing tensions within South Africa’s Government of National Unity (GNU) have reached boiling point, with Basic Education Minister and DA member Siviwe Gwarube at the centre of the storm over the controversial Basic Education Laws Amendment (Bela) Act. The two leading parties, the ANC and the DA, are again engaged in a public spat, with speculation from experts that the GNU would not last to next year. Tensions simmered on Sunday after newspaper reports suggested that President Cyril Ramaphosa was under intense pressure from within his ANC to fire Gwarube who – in accordance with her party position – is openly opposed to the implementation of the Bela Act. Reacting to the media reports, DA leader John Steenhuisen insisted that firing…

In the past two years, over 1 000 children in South Africa have tragically lost their lives due to severe acute malnutrition. This heartbreaking reality is not just a statistic – it represents the lives of young children who never got the chance to grow up, play, or dream. For many South Africans, this crisis hits close to home, whether in our communities or through stories shared by loved ones. Malnutrition doesn’t always look like a bloated belly or frail body – it can be hidden in a lack of access to nutritious food, healthcare and the support children need to thrive. Severe Acute Malnutrition (SAM) is a silent crisis affecting millions of children worldwide. In South Africa alone, alarming data from the Department of Health reveals that more than…

The Department of Home Affairs has taken a step toward digital transformation with the launch of its new eRecruitment platform. Minister of Home Affairs, Dr Leon Schreiber, hailed this development as a milestone in the department’s drive to modernise its operations. “Online recruitment has long been a standard practice in the private sector, and it is high time that the government catches up,” said Schreiber. “Since day one, I have said that digital transformation is the apex priority for Home Affairs. The launch of our very own eRecruitment platform takes us closer towards achieving that goal.” The portal allows prospective job applicants to view and apply for departmental vacancies online, eliminating the need for cumbersome paperwork and enhancing efficiency for both applicants and the department. The eRecruitment platform is part…

American rapper and businessman Jay-Z, born Shawn Carter, has publicly denounced a lawsuit that accuses him and fellow music mogul Sean “Diddy” Combs of drugging and raping a 13-year-old girl at a party in 2000. The explosive allegations have emerged against the backdrop of ongoing controversies surrounding both artists, with Combs currently imprisoned and awaiting trial on sex-trafficking charges. It is also reported that the anonymous accuser alleges that the assault took place at an MTV Video Music Awards after-party in New York City, during which an unnamed female celebrity was purportedly present. Faced with these harrowing claims, Carter has maintained his innocence, claiming that the serious nature of the allegations constitutes a blackmail attempt instigated by a lawyer identified as Tony Buzbee. In a detailed statement made public through…

The disposal of Sibanye-Stillwater’s Beatrix 4 Shaft for R500 million to Neo Energy Metals will help it prioritise capital allocation from its balance sheet towards projects that are currently under development. Sibanye-Stillwater operates platinum group metals and gold mining operations in South Africa. Beatrix, including the Beatrix 4 Shaft located in the Free State goldfields, was one of the three assets acquired from Gold Fields International in February 2013 and also holds uranium deposits. The Beatrix 4 operation was placed under care and maintenance in September last year due to depleting gold reserves and depressed uranium prices. As at the end of last year, the entire Beatrix operation had total surface and underground gold mineral reserves of 700 000 ounces and mineral resources of 7.6 million ounces. The Beatrix 4…

Web browser pioneer Marc Andreessen recently made waves with claims that Washington regulators are “de-banking” people - that is, directing banks to cut off accounts belonging to cryptocurrency executives, tech leaders and political enemies of the Biden administration. The claims also popped up throughout the election cycle, including from Donald Trump. Do banks really de-bank their customers? Sometimes - if customers are engaged in questionable or unusual behavior that’s not consistent with “safety and soundness.” That’s always been the case. But is there a concerted top-down initiative by the Biden administration to de-bank purely according to politics as Andreessen describes it? Experts say there’s no evidence for that. Here’s what to know about “de-banking.” What’s the accusation? Andreessen appeared on Joe Rogan’s podcast and made lots of claims over a…

AI is predicted to fully integrate into daily life in 2025, becoming a standard tool rather than a novel technology. With prominent operating systems like iOS and Android rolling out AI-enhanced features, people will increasingly rely on AI for communication, workflows, and creative tasks. However, this normalisation also brings challenges, particularly as personalised deepfakes become increasingly sophisticated in the absence of reliable detection tools. Privacy regulations will expand user data ownership The growing emphasis on privacy is expected to lead to new regulations that strengthen user control over personal data. By 2025, individuals may gain the right to monetise their data, transfer it easily across platforms, and benefit from simplified consent processes. Global frameworks, such as the EU’s GDPR, California’s CPRA and South Africa’s POPIA, continue to inspire reforms worldwide,…

Chinese President Xi Jinping and other top leaders said yesterday they would adopt a more “relaxed” approach to monetary policy as they hashed out plans to boost the economy next year. The world's second-largest economy is battling sluggish domestic consumption, a persistent crisis in the property sector and soaring government debt - all of which threaten Beijing’s official growth target for this year. Leaders are also eyeing the second term of Donald Trump in the White House, with the president-elect indicating he will reignite his hardball trade policies, fuelling fears of another standoff between the superpowers. The Politburo, the country's top decision-making body, yesterday “held a meeting to analyse and study the economic work of 2025”, state news agency Xinhua said. “We must vigorously boost consumption, improve investment efficiency, and…

Nictus Holdings’ share price shot up 7.7% to R1.40 on the JSE yesterday after it announced that its profit for the six months to September 30 increased markedly to R13.8 million from R3.7m at the same time a year before. Basic earnings per share similarly increased sharply to 25.79 cents from 6.93 cents. Headline earnings per share was 26.51 cents versus 6.94 cents in 2023. The share price of R1.40 yesterday represented a 47% increase over the same time a year prior. Nictus is the holding company of a group of companies that retail motor vehicles, tyres, automotive glass, and furniture, and provide financial and insurance services in Namibia. The group operates in three segments: retail, property, insurance and finance. No interim dividend was declared. In June, a final cash…

Born, bred and buttered in 2013, the Economic Freedom Fighters (EFF) founded by Julius Malema which took a leftist, radical stance, promoting economic emancipation, will be heading to its elective conference with Malema still the president and without its founding deputy president, Floyd Shivambu. The EFF was formed first as a movement and later a political party, after the ANC expelled Malema. He was the president of the ANC Youth League (ANCYL) when he was given the boot. Malema, Shivambu and others formed the EFF and they took on the ANC head on in the 2014 national elections, acquiring 6.35% of the vote. The EFF is currently the National Assembly's fourth-largest party behind the ANC, DA and MK Party. We look at the basics and history of red berets. 2013…

“We must, therefore, appreciate our role. We must appreciate our responsibility. The African people have entrusted their whole future to us. And we have sworn that we are leading them, not to death, but to life abundant.” – Robert Mangaliso Sobukwe MANY magnificent human beings who achieved so much in the past are now almost forgotten. In retrospect, almost every era may be viewed as an age of giants, and, in the glorious history of the struggle for liberation in South Africa, Robert Mangaliso Sobukwe stands out as such a formidable giant. Of course, there is always an element of danger involved in seeing the past through the present. The glass through which we review the past may show us new aspects, but it may also discolour or distort. If…

The Lions started promisingly against the Ospreys at the weekend but ultimately the 30-14 defeat to the Ospreys in a deserted Swansea Stadium was a failure for a second-string Lions team that had so much to prove, Coach Ivan van Rooyen expected more from rising stars who had been given their opportunities and the mountain of errors would have depressed him. The Lions had been good against Munster in the United Rugby Championship in Limerick the week before, and faced with hosting French side Pau at home they sent a host of top players home to prepare for the game, while challenging the next tier of players to show what they could do, but the result was disappointing. “That’s a big part of the disappointment of this performance. A lot…

Chairperson Sangqu says state-owned logistics company could be profitable in 2025/26 Transnet chairperson Andile Sangqu revealed that the state-owned logistics company has incurred an alarming R4 billion loss in potential revenue this financial year, primarily attributed to rampant cable theft and widespread vandalism. Speaking in a Radio 702 interview yesterday, Sangqu said these factors, along with a daunting maintenance backlog, posed significant hurdles to the entity’s broader recovery efforts. However, Sangqu said Transnet’s recovery plan had its positive indicators in the clearing of backlogs at ports, building closer collaborations with the private sector, and stabilising of the executive floor but was bogged down by a balance sheet tilting on heavy interest costs, antiquated equipment, cable theft and a dysfunctional rail network. He said the entity was also up to its…

Infrastructure plays a critical role in driving growth and economic development in South Africa, particularly through projects involving the country’s Energy, Logistics and Water sectors. The country is currently experiencing a significant infrastructure backlog in its electricity supply landscape and requires investment to expand infrastructure across all elements of generation, transmission and distribution. Infrastructure projects of this nature rely on specialised equipment, such as towers, transformers, high voltage equipment, switchgear, electric motors, alternators, turbines, and associated products, some of which are imported. Additionally, South Africa is currently experiencing a logistics crisis as it is unable to transport the required volumes of commodities to our ports for export. Therefore, as a country, we are missing out on economic opportunities due to the lack of infrastructure, both in the energy and logistics…

The fintech narrative is shifting. As I listened to co-founder and CEO Nik Storonsky of Revolut — Europe’s largest digital bank — on Harry Stebbings' 20VC podcast recently, what struck me wasn't just the impressive numbers — $545 million (R5.7 billion) in profit for 2023, driven by a 95% revenue surge to $2.2bn and an influx of over 10 million new customers in 2024 alone to a total of 50 million global customers — but rather the underlying philosophy that's reshaping digital banking globally. Local reality, global ambition This evolution mirrors conversations I've had with fintech founders across Africa, not least my recent African Tech Roundup podcast chat with Nigeria’s Carbon co-founder and CEO Chijioke Dozie, who offered a fascinating distinction between neobanks and digital banks. In his view,…

Barry Keoghan cannot take any more online “hatred” in the wake of his split from Sabrina Carpenter. The 32-year-old actor parted ways from Espresso songstress, 25, after just over a year of dating but amid refuted accusations that he was unfaithful. The actor has deactivated his Instagram account and begged trolls online to stop destroying the reputation he had worked “extremely hard” to build. On the weekend, he wrote on X: “I can only sit and take so much. My name has been dragged across the internet in ways I usually don’t respond to. “I have to respond now because it’s getting to a place where there are too many lines being crossed. I deactivated my account because I can no longer let this stuff distract from my family and…

Scores of students across the country who depend on the National Student Financial Aid Scheme (NSFAS) Payment Schedule to support their academic pursuits are crying foul after their allowance, critical for covering tuition, travel and living expenses have not been paid for months. The recent delays in NSFAS payments have caused stress among the students, especially those from some of the country’s leading Technical Vocational Education and Training (TVET) colleges saying they have not been paid their monthly stipends for months on end. The escalating issues have come to light after The Star uncovered a catalogue of over 200 affected students who have yet to receive their monthly stipends. Students from prominent colleges – including Capricorn College, Umgungundlovu College, Lovedale College, Sedibeng College, Mopani, Vhembe Colleges, and Ekurhuleni College –…

The South African Communist Party (SACP), which recently announced that it would be participating in the upcoming 2026 Local Government Elections independently, maintains that it is not an opposition to the African National Congress (ANC), but ‘an ally.’ The statement was made as the party of Chris Hani heads into its all important elective conference this week which will start on December 11 and end of December 14. Elaborating, SACP general secretary, Solly Mapaila, said that the organisation which has always sided with the ANC, has decided to contest the upcoming local government elections, independently. Mapaila said the organisation will finalise the specifics of its independent campaign plan at the much anticipated conference. Speaking with IOL News, SACP central committee member and national spokesperson Dr. Alex Mashilo emphasised that…

RESIDENTS in Soshanguve Block L, who were forced to go without water in the past few days, have been assured that the City of Tshwane was working hard to resolve the problem. The reservoir supplying the area with water was said to be empty last Friday due to water pressure issues experienced on the side of Rand Water. Mayor Nasiphi Moya said Tshwane is actively working to resolve the issues by collaborating with the water utility to restore water to all affected residents. According to her, work was done to check for leaks around the reservoir, adding that Rand Water was also checking for airlocks. Recently, the water reservoir was replenished, but the water had mysteriously disappeared, forcing the City to conduct thorough checks to determine what went wrong and…

Internationally acclaimed actress and producer Nomzamo Mbatha has become a beacon of inspiration for many, combining her multifaceted career with a commitment to self-care. As summer approaches, she also dives into the essentials of maintaining glowing skin while juggling diverse projects and commitments. With a portfolio that ranges from acting in high-profile films to producing impact full projects, Mbatha has steadily climbed the ladder of success. Reflecting on her flourishing career, she considers her most rewarding moment. “I think the most rewarding part has been the opportunity to influence and inspire others. I have had the privilege of working on projects that resonate with people, and now, as a producer, I can be a part of creating stories that matter. It’s a lot of hard work, but knowing that you’re…

South African rugby supporters are used to living with their arms held aloft thanks to the Springboks but hands are sinking as the local teams get a sobering smack of reality in the Champions Cup. The tournament, formerly known as the Heineken Cup, brings together the top performers in France, England, and the United Rugby Championship and South African teams continue to underestimate the enormity of it. The Champions Cup is substantially more prestigious than Super Rugby or the URC, yet the Sharks, Bulls and Stormers naively continue to see the latter as the more important competition. The Europeans are laughing at them. At the weekend, the Sharks were unimpressive in beating the Exeter Chiefs in Durban, while in Gqebertha, the Stormers were terrible in losing to Toulon, a French…