Star içinde 2022-03-02 için içindekiler tablosu

Dieketseng Maleke dieketseng.maleke@inl.co.za MINERAL Resources and Energy Minister Gwede Mantashe yesterday said that the fight to kill downstream exploration was going to slow down development. Mantashe delivered a keynote address at the 2022 Africa Energy In- daba, at the Cape Town International Convention Centre. The annual Africa Energy Indaba brings experts from around the continent to discuss and formulate energy policy. Mantashe said that the recent oil discoveries in Namibia by petroleum giant Shell were a huge push for development in that country and the rest of the region. Mantashe criticised the treatment that Shell received in South Africa when the company tried to conduct seismic survey. “The companies that have been making the finds of oil and gas in Namibia have been harassed out of South Africa because we…

Banele Ginindza banele.ginindza@inl.co.za STRUGGLING state armaments manu- facturer Denel recently lost out on a R6 billion missiles deal with Egypt after local banks turned them down for funding, despite the government providing bank guarantees to facilitate the deal, acting chief executive William Hlakoane told Business Report. The deal could have gone a long way in helping the government-owned entity gain financial stability as it struggles with a plethora of court judgments from workers owed salary arrears and provided it with capital to undertake further projects. Hlakoane said Denel had lost out on the deal as it could not secure funds locally and by the time an Egyptian bank offered assistance, the order had been cancelled. “We lost the contract to a French company. If you snooze you lose. Denel…

Siphelele Dludla siphelele.dludla@inl.co.za THE BUREAU for Economic Research (BER) has warned that a possible further increase in input costs has the potential to sour the robust sentiment in the manufacturing industry. This comes at a time when global oil prices have skyrocketed due to fears of global supply constraints amid the ongoing war between Ukraine and Russia, one of the world’s largest oil suppliers. The BER yesterday said the manufacturing industry could be impacted as the war spills over in an environment where demand was still recovering. It said this could also mean that not all cost increases can be pushed on to consumers through price increases. “Looking ahead, a surge in the Brent crude oil price means that the fuel price will again increase sharply this week, with inputs…

Wesley Diphoko wesley.diphoko@inl.co.za No better show of force could have been shown by the banking establishment than removing Russia from the SWIFT system. In the absence of this global system, Russian banks will be unable to process global payments. SWIFT is a messaging system (like email) used by 11 000 banks in 200 plus countries. To be removed from this system can be considered the ultimate punishment by the global banking authority, yet even this action will not stop Russia from accessing the financial system. According to some media reports, Russian entities are preparing to blunt some of the worst effects by making deals with anyone around the world willing to work with them. And, they say, those entities can then use digital currencies to bypass the control points…

Staff Reporter ADVENTUROUS theatre lovers are set to experience an explosive re- interpretation of some familiar Cape colonial history in an outrageous, new comic play, Contested Bodies or Doctor James Barry, Lord Charles Somerset and I, which will have its world premiere at the Artscape Arena. Contested Bodies concludes the Abrahamse and Meyer Summer Season, which kicked off in November with the acclaimed staging of Yukio Mishima’s The Lady Aoi, and continued through February with a sold-out repertory of A Streetcar Named Desire and One Arm by Tennessee Williams. Almost seven years to the day after political activist Chumani Maxwele flung human excrement at the statue of British imperialist Cecil John Rhodes, Abrahamse and Meyer will do some faeces-flinging of their own in their latest “outrage for the stage”…

Thobeka Ngema thobeka.ngema@inl.co.za The Department of Health has spent about R6 billion on vaccines to date. This was revealed by Health Minister Dr Joe Phaahla in a parliamentary written question session by the EFF’s Floyd Shivambu. Shivambu had asked Phaahla the total amount the department had spent on the procurement of Covid-19 vaccines to date. He had also asked the total number of Covid-19 vaccines approved for use in the country, and the names of those vaccines and what total number of vaccines the government had procured to date from each approved supplier and at what price. Phaahla also had to explain the legal provisions the department relied on to enjoy the exclusive rights to procure vaccines from approved suppliers. Phaahla said: “The department has spent approximately R6 billion on…

MOHAMED SAEED | Pietermaritzburg As someone who has witnessed first-hand the effects of war in Syria and the brutal occupation of Palestine by the Israeli colonialist, we must come together as human beings and demand a diplomatic solution to the crisis in Ukraine. Despite the double standards, lies and hypocrisy of the US, EU, UK, United Nations Security Council and Nato axis, Russia’s military invasion of Ukraine must be denounced and condemned. The US and its allies have been violating international law and charters for many decades with no objections from the international community. As for what the Russians are currently perpetrating in Ukraine – the US had for many decades been committing far worse crimes against humanity with its military adventures around the globe. In the…

Goitsemang Tlhabye goitsemang.tlhabye@inl.co.za DESPITE the postponement of the unveiling of the Robert Sobukwe Exhibition at Pretoria’s Kgosi Mampuru II Correctional Centre, Minister of Sports, Arts and Culture Nathi Mthethwa has given his assurances that it will still go ahead. He said the unveiling of the exhibition, which was due to take place yesterday, had to be postponed as they were still having discussions with the leadership of the Pan Africanist Congress (PAC). Sobukwe, a Struggle stalwart, founded the PAC. “In terms of the plans and programmes, everything is ready, but we also want the PAC to be part and parcel of the processes. “It will be postponed by a few days, not even weeks, but perhaps by next week we will be coming back here on a very important aspect…

Eshlin Vedan eshlin.vedan@inl.co.za THIS season has been an underwhelming one so far for Cape Town City as the Citizens would have been hoping for a solid top-eight finish, as well as to embark on deep runs in the cup competitions. While they did narrowly lose the MTN8 final on penalties to Mamelodi Sundowns, they go into this evening’s game against Orlando Pirates in ninth position on the Premiership standings, and were eliminated from the Nedbank Cup two weeks ago by Royal AM. Should City win their game against Pirates at Orlando Stadium (5.30pm kick-off), they will break into the top eight. “Everybody is motivated to play against Orlando Pirates and try to collect some valuable points at this stage of the season,” said City coach Eric Tinkler. “We are going…

Morgan Bolton morgan.bolton@inl.co.za THE Lions switch their attention to the Currie Cup this weekend, but whether it is the more senior United Rugby Championship (URC) team or the younger Currie Cup alternative in the domestic tournament, both sides just can’t buy a win at the moment. It isn’t from a lack of trying – there is no doubt about that – but rather a general lack of experience in both squads that has been their undoing this year. The Lions’ senior team’s results in 2022 make for grim reading: nine losses in all competitions – six in the URC and three in the Currie Cup – seven of which have seen their opponents score 30 points or more. In all three of their Currie Cup games, the opposition have breached…

Edward West edward.west@inl.co.za THE PSG GROUP, unable to shrug off a 30 percent discount that it trades at on the JSE, plans to delist and extract “enormous value” for shareholders through unbundling, chief executive Piet Mouton said yesterday. The group was started in 1995 by its chairperson, Capitec Bank co-founder and well known South African entrepreneur, who has in the past been dubbed by investors as “boere Buffet”, Jannie Mouton. PSG’s share price shot up 21.28 percent to R99.24 after the announcement, which immediately narrowed the premium between the share price and the delisting proposal. The group has a market capitalisation of R18.38 billion. PSG plans an offer to shareholders at R23 a share, cash, and the unbundling of its stakes in PSG Konsult, Curro, Kaap Agri,…

MUCH LIKE South Africa’s judicial system when it comes to sentencing, where discretion still comes into play, although there are mandatory mini- mum sentences for specific severe offences (which would account for discrepancies in sentencing in certain cases), the Johannesburg Stock Exchange (JSE) appears to exercise a similar power of preference as to how it metes out its “punishment” on offenders. A curious case in point is that of the bourse’s decision to impose a severe five-year ban on two former directors of embattled tech company AYO Technology Solutions. These censures were issued in Mbuso Khoza and Telang Ntsasa’s personal capacity, AYO having already been fined and censured back in 2020 for what the company called a “misinterpretation of the IFRS rules” on submitting its first set of financials after…

Siphelele Dludla siphelele.dludla@inl.co.za SOUTH Africa’s automotive industry has expressed concern about the escalating geopolitical tensions due to the Russian invasion of Ukraine. The National Association of Automobile Manufacturers of SA (Naamsa) yesterday said that the current hostilities posed another potential global supply-chain challenge for the car industry because of Europe’s strategic significance to the global automotive ecosystem. Naamsa said the confrontation between Russia and Ukraine comes at the time when the global car industry is still reeling from global supply constraints. The industry is still trying to recover from the devastating impact of Covid-19 disruptions and global shortages of semi-conductors, and many other supply chain-related challenges experienced by the industry since the beginning of 2020. Naamsa CEO Mikel Mabasa said they don’t need another global economic disruption. “We urgently urge…

Given Majola given.majola@inl.co.za THE AVERAGE cost of the household food basket in February at R4 355.70 has decreased by R45.33 (-1 percent), from R4 401.02 in January 2022, reports the Pietermaritzburg Economic Justice and Dignity Group (PMBEJD). The group’s programme co-ordinator, Mervyn Abrahams, said food prices dropped marginally in all areas tracked. “Most foods in the basket came down in February, 2022 and across most staples, meats and vegetables with the exception of oils and fats: cooking oil, margarine and Cremora,” Abrahams said. The February, 2022 Household Affordability Index tracks food price data from 44 supermarkets and 30 butcheries across the country. The average cost of the household food basket increased by R354.52 (8.9 percent) from R4 001.17 in February, 2021 to R4 355.70 in February, 2022. Statistics South Africa’s…

Rapula Moatshe rapula.moatshe@inl.co.za THE way South African banks go about cutting ties with businesses or individuals using reputational risk as a determining factor, has come under scrutiny from three senior academics in the economic and financial sector. Academics have expressed disappointment in the banks’ approach of being subjective and in some cases, discriminatory. Economist Mzwanele Ntshwanti, who is a lecturer at Unisa’s College of Economics and Management Sciences, said many factors such as market risk and individual risk underpinned the application of the reputational risk rule. He pointed out that in applying “reputational risk”, the banks appear to use sentiment and subjectivity to guide their decisions, which he said, bordered on racial discrimination, especially against black people. As an example, Ntshwanti cited how banks can prejudge people based on where…

Kailene Pillay kailene.pillay@inl.co.za The Presidency released the third instalment of the State Capture report yesterday, which included four hefty parts of the volume, and deals exclusively with corruption allegations against Bosasa. The four parts span more than 1 000 pages. Presidency Director-General Phindile Baleni received the third volume of the report of the Judicial Commission of Inquiry into Allegations of State Capture, Corruption and Fraud in the Public Sector on behalf of the president. It was presented to her earlier by the Secretary of the Commission, Professor Itumeleng Mosala, at the Union Buildings. In its report, the Commission deals with the extensive evidence presented regarding the activities and business dealings of the Bosasa Group of Companies, including its tender practices and contractual relations with government departments and SOEs. It…

Stuart Hess stuart.hess@inl.co.za CHARACTER, resilience and growth were the most popular words among South Africa’s players following their 198-run win against New Zealand in Christchurch yesterday. In the wake of the outcome, Proteas captain Dean Elgar said he would have taken a 1-1 result if offered it before the series. “We didn’t start very well. We didn’t pitch up in the first game. To bounce back the way we did showed a lot of growth, character and maturity. To get the win the way we did was brilliant,” Elgar said. The Proteas’ win represented one of the biggest turnarounds in a series: from losing the first Test by an innings and 276 runs in seven sessions – SA’s second-heaviest innings defeat ever – to a thumping win over the current…

Herman Gibbs herman.gibbs@gmail.com THERE was a time back in 2016 when the acclaimed ‘CBD’ trio was firing on all cylinders, wreaking havoc among Mamelodi Sundowns’ opponents. The attacking triumvirate of Leonardo Castro, Khama Billiat and Keagan Dolly was peerless, scoring prolifically and producing many assists. None of Sundowns’ opponents had an answer for the dominant threesome. The news that Kaizer Chiefs will be without striker Samir Nurkovic for Saturday’s Premiership Soweto Derby against Orlando Pirates (3.30pm kick-off) has raised hopes that Colombian marksman Castro will be the replacement. Nurkovic picked up a fourth booking at the weekend against Baroka FC and will sit out this week. This has created an opportunity for Castro to play in the run-on XI and join his former Sundowns teammates Billiat and Dolly in Chiefs’…

Eshlin Vedan eshlin.vedan@inl.co.za WITH the Nedbank Cup and Caf Champions League now their main priority, Mamelodi Sundowns will need to rotate their players well for their Premiership clash against TS Galaxy at Mbombela Stadium in Nelspruit tonight. Sundowns head into the clash 15 points clear at the top of the standings, and it will take arguably the biggest upset in South African football to prevent them from winning a fifth consecutive league title. At this stage of the campaign, preventing injuries to key players in league games may be more important than winning them for the Brazilians as they look to try and secure a first Champions League title since 2016. Meanwhile, key Galaxy player Ethan Brooks is hoping his team can have a great late-season run of form in…

Smiso Msomi smiso.msomi@inl.co.za IT’S been almost two years since football supporters have been allowed to enjoy watching their respective teams from the stands. The privilege of shouting for your favourite player in delight or dismay is one that has truly been extracted, and has had a negative impact on the bonds between clubs and their supporters. Kaizer Chiefs youngster Nkosingiphile ‘Mshini’ Ngcobo has issued a plea for the reintroduction of fans into the stadiums around the country ahead of the club’s biggest game of the season, against eternal rivals Orlando Pirates on Saturday at Orlando Stadium (3.30pm kick-off). “It’s very hard for us players as well. We really do miss the 12th man in the stands. Playing for Chiefs means we’re always getting support on social media, but it’s not…

Siphelele Dludla siphelele.dludla@inl.co.za STOCKS on the JSE climbed to another all-time record high yesterday supported by financials, tech stocks and commodity-linked stocks as sanctions on Russia continue to bite. Market fears of a possible prolonged Russia-Ukraine war stoked an increase of various commodities while investors continued to assess the Ukraine crisis. The JSE All Share index rose more than 1.2 percent to a fresh record high of 77 303 index points hit during an early trading session before softening just below 77 000 points at 5pm. Investment holding company PSG Group’ stock saw the biggest rise with an 18.6 percent rise to R97.01 per share, followed by Exxaro Resources at 8.8 percent to R215.42 per share. Gold prices approached a 13-month high yesterday, climbing above…

Edward West edward.west@inl.co.za WILSON Bayly Holmes-Ovcon (WBHO) has called it a day in Australia after its operations there face continuing Covid-19-related losses, while the environment of tension with China, one of the group’s major clients in that country, also made further investment too risky. The group, which put its substantial, but loss-making Australian construction operations under administration on February 23, would likely face a challenging period in the next six months, its management admitted yesterday. WBHO had already provided some R2 billion in equity funding and substantial parent company support to its loss-making Australian businesses over the past few years. “The political tension between Australia and China as well as the recent collapse of the Chinese property sector and subsequent financial difficulties being experienced by some Chinese developers, creates…

A DISRUPTIVE fintech firm, Troygold, may score big as investors pile into gold amid market volatility after Russia invaded Ukraine. Troygold is a digital platform that allows users to safely store, buy and sell physical gold bullion. It provides the ability to instantly access cash without selling your gold by providing a gold-backed loan facility at low borrowing rates. Rand are made available on a Mastercard debit card through sponsor bank, Access Bank. Troygold has started to gain traction as it currently aims to have R1 billion of gold uploads onto its platform. Troygold was co-founded by brothers Bastiat and Dane Viljoen. In an interview with Dane Viljoen, he said Troygold’s platform aimed to be the natural place for South Africans, who own gold Krugerrands, to deposit and hold their…

Liam Karabo Joyce liam.joyce@inl.co.za Award-winning gospel star Dumi Mkokstad found himself in hot water after expressing views that rubbed many the wrong way. In a now-deleted tweet, the singer said: “Suicide isn’t the solution. Christ is.” This was after news emerged of rapper Riky Rick’s death. The hip hop star allegedly took his own life after a long battle with depression. Taking to Twitter, Dumi opened up about his own battles and set the record straight about his “misunderstood tweet”. “I have been through depression myself and would never not understand anyone’s reaction to it. “People deal with situations differently and I will never judge anyone who may go through that.” “Because I have been through depression I wrote tweets yesterday with the #RIKYRICK_I_UNDERSTAND because I have been there and…

Thabo Makwakwa thabo.makwakwa@inl.co.za The Department of International Relations and Co-operation (Dirco) has urged South Africans in Ukraine not to panic but to move closer to the borders as Russia continued to advance its military operations in Ukraine. This came after reports of racism reportedly perpetrated by Ukrainians against Africans who were blocked from fleeing the war zone as the second week of the Russian military assault on Ukraine continued. Dirco’s head of diplomacy, Clayson Monyela, said the South African embassy in Ukraine was providing consular support and assistance to stranded South African citizens in the war zone as the Russian army continued to overpower the Eastern European nation. Monyela said the South African embassy in Ukraine had a database of around 200 South African nationals, including students, to provide with…

Lehlohonolo Mashigo lehlohonolo.mashigo@inl.co.za KIDNAPPINGS have become a serious concern as yet another businessman, this time Zaheer Asmal of Vereeniging, was taken by criminals on Friday. SAPS spokesperson Colonel Athlenda Mathe said that just before midnight on Monday, the task team led a multi-disciplinary operation consisting of members of the Special Task Force (STF) and the Johannesburg Metro Police Department assisted by private security. “The team swooped on three identified addresses, one in Lenasia South, where the victim was found unharmed.” At this address, police arrested the owner of the property, a 70-year-old suspect. “At the second address in Ennerdale, police found a dark grey Toyota Hilux and the fake registration number plates which were utilised in the commission of the crime. One suspect was arrested,” said Mathe. “When police arrived…

Liesl Van Der Schyff liesl.vanderschyff@inl.co.za Ingredients 2 tbs (30ml) olive oil Salt and milled pepper 4 (about 700g) chicken breasts on the bone 1 tbs (15ml) garlic and ginger paste 1 tbs (15ml) ground cumin 1 tbs (15ml) ground coriander 2 sticks cinnamon 3 cups (750ml) chicken stock 1-2 tbs (30ml) smooth apricot jam Juice (60-120ml) of 1-2 lemons ½ packet (250g) risoni or couscous ¼ cup (60ml) raisins ¼ cup (60ml) Turkish apricots, sliced Handful basil, for serving Method Heat oil in an ovenproof dish. Season chicken and brown for 5 minutes. Remove and set aside. Add garlic and ginger paste, cumin, coriander and cinnamon. Fry for a minute and remove from heat. Combine stock, jam and some lemon juice. Return chicken to pan and scatter with risoni or…

ANITA NKONKI anita.nkonki@inl.co.za FAMILY and close friends gathered to paid their last respects to the music icon, fashion mogul and “Boss Zonke”, Rikhado “Riky Rick” Makhado, in an emotionally-charged private funeral ceremony in Johannesburg. The multi-award-winning rapper died last Wednesday, February 23, at the age of 34. His death sent shock waves through South Africa, and the outpouring of grief has shown just how much an impact he had in South African culture. But it also brought to the fore the problem of depression in communities. A private send-off for the pioneer and icon was also broadcast online for the public to watch yesterday. Riky had a lasting impact on the music industry and in the world of fashion and won the hearts of many with his upbeat and…

Stuart Hess stuart.hess@inl.co.za The all too brief series between New Zealand and South Africa revealed two teams on differing paths. Going into the series, there were two big questions. For New Zealand: How far, if at all, past their peak were they as a Test side? For South Africa: Can they maintain the progress made against India? As far the Proteas are concerned, the answer is a solid ‘yes’. Apart from Keegan Petersen and Marco Jansen’s brilliance, that series win against India was led by the senior players – Kagiso Rabada, Temba Bavuma and Dean Elgar. This time, the younger players came to the fore. Sarel Erwee, who is not so young but was only playing his second Test, and Kyle Verreynne produced two innings of high quality, Jansen continued…

FORMULA One’s governing body the FIA were due to convene an extraordinary meeting of its World Motor Sport Council (WMSC) yesterday after a number of sporting federations banned Russian athletes from competing internationally following Russia’s invasion of Ukraine. The IOC, which gave recognition to the FIA in 2012, on Monday recommended a ban on Russian and Belarusian athletes and officials. Fifa and Uefa also suspended Russia’s national teams and clubs from international football until further notice. “An extraordinary meeting of the World Motor Sport Council will be convened (on Tuesday) to discuss matters relating to the ongoing crisis in Ukraine,” said an FIA spokesperson. “Further updates will be given following the meeting.” The outcome of yesterday’s meeting could well decide the fortunes of Nikita Mazepin, the only Russian on the…

Matshelane Mamabolo kolobe24@gmail.com WHILE the height of the Soweto Derby was no doubt in the 1980s, when the likes of Jomo Sono and Teenage Dladla were stars, there were some memorable clashes between Orlando Pirates and Kaizer Chiefs in the 1990s. The discerning derby enthusiast will no doubt have vivid memories of some of the individual clashes in the match that lit up the encounter. The duel that involved Jerry Sikhosana against Brian Baloyi in the early years of the PSL was thrilling, as was the tussle between big boys Collins Mbesuma and Tonic Chabalala. I still have clear memories of covering that 1996 Bob Save Super Bowl clash between the two team , during which Sikhosana made the then superstar Baloyi look ordinary by scoring a hat-trick in Pirates’…