Star2023-01-12的目錄

Mergers and acquisition (M&A) activity in Africa fell markedly in the second half of last year and was likely to remain subdued this year as the global economy remains in a perma-crisis state, a new report has found. International law firm Herbert Smith Freehills (HSF) released its Global M&A 2022 Insights and 2023 Outlook yesterday, which studied whether the M&A market can fully absorb the current perma-crisis state, with once-in-a- generation events now erupting with disturbing frequency. HSF said the ongoing worldwide uncertainty and its economic effects would continue to have an impact on M&A transactions in Africa, though the upward trend of M&A transactions was expected to continue, especially from private capital investors. This comes after a marked deterioration in M&A conditions in the second half of 2022, with…

The BankservAfrica Economic Transactions Index (BETI) ended the year positively, despite the ongoing dismal economic context, and it signals an improvement in the economy. “After six consecutive months of declines, the BETI rose to an index level of 132.1 in December, almost on par with the January 2022 level of 132.8,” BankservAfrica head of stakeholder engagement Shergeran Naidoo said in a statement yesterday. Naidoo said, however, that “there are indications that we could expect ‘more of the same’ in 2023,” as the main challenges of load shedding and households under pressure from elevated inflation and interest rates are likely to remain. The BETI increased by 1.7% on an annual basis versus a 0.9% decline in November. “The monthly, quarterly and annual improvements all signal some improvement in the broader economy,”…

Wololo hitmaker Babes Wodumo recently bid farewell to her musician husband, Mampintsha, who died after suffering a stroke the day before Christmas. A few days later the gqom queen was videoed dancing at his funeral at the eThekwini Community Church (ECC) to Ngeke, a song by Big Nuz, the group her late husband was a part of. The moment went viral on social platforms and Wodumo has since been harshly judged for her actions as users criticised her “grieving” process. Catching on to the conversation, actress Simphiwe “Simz” Ngema came to Wodumo’s defence. According to Times Live Ngema went live on Instagram to say that people “should not expect Wodumo to look distraught but rather let her grieve in her own way”. The article quoted Ngema, who said that “people…

A now former employee for a car hire company at OR Tambo International Airport, who was dismissed as he refused to get a Covid-19 vaccination on religious grounds, won his case against his employer in arbitration, when the commissioner declared his dismissal to be substantially unfair. It was ruled that Zenith Car Rental, trading as Avis Rent a Car and Budget Rent a Car, had to pay Owen Cook six months’ salary. The company had adopted a mandatory vaccination policy, but Cook had applied for an exemption from the policy, which was declined. He was dismissed in March last year for gross insubordination by refusing to carry out what the company said was a reasonable instruction, in that he failed to present a Covid-19 vaccination certificate as…

The average South African citizen who does not pay careful attention to our politics but enjoys watching the shenanigans of our politicians on television or social media may never have heard of the Presidential Protection Unit (PPU). This is a band of police officers assigned to protect the cream of the crop of politicians in South Africa – at our expense. For example, in 2016/17, the PPU protected, among others, then sitting president Jacob Zuma along with his four wives, his deputy president and now sitting president, Cyril Ramaphosa, together with his wife, and former presidents, the late FW de Klerk, Thabo Mbeki and Kgalema Motlanthe. In 2017/18, 81 police officers were assigned for every one of the 17 politicians who were protected full-time. As recently as December 10, 2022,…

Cubans frantic to escape an economic crisis at home weighed up options this week on how to move to the US after the Biden administration rolled out a new set of rules at the US-Mexico border that dramatically change the landscape for the island’s would-be migrants. The new regulations block Cubans at the border, putting the brakes on a route to the US favoured by many: a flight to Nicaragua, which lifted its visa requirement in 2021 on Cubans, and then an overland journey north through Central America and Mexico to the border. But the new regulations also open a new avenue to enter the US legally, aimed at bringing order to a record-breaking exodus last year of upwards of 220 000 Cuban migrants encountered at the US-Mexico border.…

HARARE: Zimbabwe has signed a bill into law that outlaws organised protests by health-care workers who could now face a fine or imprisonment of up to six months. The signing by President Emmerson Mnangagwa comes after health workers were locked in a protracted fight with the government over poor salaries last year. Thousands of nurses and doctors at state-run hospitals went on strike last year demanding a hefty raise and wages in US dollars due to a slide in the local currency and steep inflation that eroded the value of their earnings. Many nurses earn less than $100 (about R1 698) a month. |…

AMAZULU FC midfielder Pule Ekstein, who recently returned to the first-team set-up, is relishing the chance to come up against his former club Kaizer Chiefs when the two sides meet tomorrow (7.30pm kick-off). Ekstein, now 32, was ordered to train with the club’s development team alongside Thabo Qalinge during coach Brandon Truter’s tenure at the club. The appointment of Romain Folz offered an opportunity for the pair to return to the first team squad. Ekstein has grabbed his chance with both hands, impressing massively while his team continues to struggle for results. Folz spoke highly of Ekstein when his side went down to Royal AM last Sunday, claiming the dynamic midfielder was one of his best players in an otherwise poor showing on the day. Usuthu have switched focus to…

Tharisa Minerals, the platinum group metals (PGMs) and chrome co- producer, said yesterday that its mining volumes were affected by unprecedented rainfall not seen in the history of the mine. In its production report for the first quarter of the 2023 financial year, released yesterday, the group said rainfall in the first quarter was 27% higher than in previous years. Tharisa Minerals CEO Phoevos Pouroulis said output in the quarter was hampered by unprecedented rainfall in the open pit where it mines in the North West. “While the changes we have made to the pit layout provided significantly better drainage, access to the pit was nevertheless hampered due to the high water level, directly resulting in pit flexibility being compromised. Our stockpile management strategy was implemented over the past 24…

The Fabelmans and The Banshees of Inisherin won the night’s biggest prizes at the Golden Globe Awards on Tuesday. Steven Spielberg’s semi-autobiographical movie about his childhood, for which he had won Best Director earlier in the evening, took home the Best Motion Picture – Drama award ahead of Avatar: The Way of Water, Elvis, Tár, and Top Gun: Maverick, while Martin McDonagh’s dark look at the end of a friendship scooped Best Motion Picture – Musical or Comedy ahead of Babylon, Everything Everywhere All at Once, Glass Onion: A Knives Out Mystery and Triangle of Sadness. The movie also saw Colin Farrell take home Best Actor in a Musical or Comedy, and another win for Martin for Best Screenplay – Motion Picture. Elvis actor Austin Butler won Best Actor in…

Parents given the run-around as they try to find places for their children Scores of angry parents in Cosmo City and other parts of Gauteng were left to ponder the future of their children after they were turned away by admissions officials on the first day of the Gauteng school term yesterday. Some of the parents who protested outside Cosmo City One Secondary School were told to go to Tirisano- Mmogo Primary School, where Education Department officials were stationed as they worked overtime to try to solve the issue of late applications and placement of Grades 1 to 8 learners. When parents arrived at Tirisano- Mmogo Primary School, they were told to either apply online to get a reference number or go to Sharonlea Primary School to complete their applications.…

WITH the countdown started to the release of the final matric results next week, the South African Depression and Anxiety Group (Sadag) will host a live question-and-answer session for anxious parents and pupils. The “Ask the Expert” chat will take place tomorrow at 1pm. Aim of the conversation is to support pupils and equip parents and teachers with practical ways to navigate increasing nerves, what to do when the results are released, and look at the way forward, regardless of the outcome of the results. “If you are a parent or loved one of a student who is anxious and concerned about the upcoming results, don’t miss this discussion,” Sadag said. “Experts educational psychologist Dr Elzette Fritz and clinical psychologist Ryan Cooper will be answering questions on how learners, parents,…

from page 1 “All along we’ve been using this certificate, but today we are told this certificate is not a legal document,” Musonda said. In the midst of an ongoing online registration crisis that has left thousands of Grades 1 to 8 pupils without schools, Motshekga said that her department would resolve the backlog in the placement of Gauteng learners in schools within 10 days. Provincial authorities said more than 1 300 primary and high school pupils were still awaiting admission to schools. Motshekga said while this was not an ideal situation for parents and learners, she was happy that at least 99.5% of learners had secured placement. She appealed for calm on the part of angry parents who have run out of time to get their children enrolled in…

Social activist and political analyst Xolani Dube has lamented the “arrogance” with which President Cyril Ramaphosa has handled the Marikana issue. Dube’s Marikana Commemoration speech has resurfaced in a YouTube video uploaded this week and has started doing the rounds on WhatsApp platforms shared by politicians and intellectuals, who are concerned about the future of South Africa’s black generations. In his speech, the analyst took the Marikana widows and orphans through the history of black life in South Africa. He explained that he had recently visited Phoenix, where 36 black people were killed between July 12 and 15, 2021, during what has been termed the July Unrest. He said from the days of apartheid to date, black lives have never mattered. “Look at this hall. Only the black South African…

Next year, the country will hold general elections. We are going to see politicians becoming friendly and closer to the people. They will also kiss babies and attend church services. Additionally, political parties will also make bold promises such as creating jobs, improving the economy and solving the energy crisis. Neither will talk about climate change, which is wreaking havoc in our country, especially in KZN. The ANC has had enough opportunity to develop this country, but it has failed to do so. In next year’s elections, it is expected to garner less than 50% of the votes. Interestingly, the governing party is singing the renewal song. However, their song has a discord: its Cabinet has people who were there during the Nelson Mandela era. And its MPs are…

So-called South African exceptionalism has reached the height of incredulity and stupidity. This is in reference to the mooted move by the government to allow the National Prosecuting Authority (NPA) to receive private donations because it is “cash strapped”. In a country already a cesspit of crime, where bribery is the order of the day and criminals are buying themselves out to escape prosecution and justice, we come with up with this? And it is only the super-rich who are going to be donating money to the NPA because ordinary members of the public are also “cash strapped”. And we are very naïve if we think that the rich are going to donate millions to the NPA because they are altruistic – they need value for their money and in…

I am happy to be back in South Africa. This is the first stop of my regional visit. African nations, despite the historical injustices and unacceptable external interferences, have shown a monumental resilience. They have grown outstanding leaders among whom Nelson Mandela has a unique place. The African continent, with its young and dynamic population, vast opportunities, rich and deep-rooted culture and history, has a great potential to shape the new century. For us in Türkiye, Africa means hope and we are partners with Africa in this crucial journey. Türkiye’s approach to Africa is built on an inclusive and equal partnership on the basis of mutual respect and win-win strategy. Our 44 embassies on the continent bear testimony to our growing partnership. President Tayyip Erdogan ranks first in terms of…

With the new school year upon us, discrimination remains the elephant in the classroom, which democracy cannot tackle until adults in South Africa move past their pre-1994 mindsets. Three decades after the end of apartheid, one wonders what hope there is for children when words and deeds mean nothing if the nation continues to spew out racists. South Africa boasts the best Constitution in the world. But togetherness is best reserved in beer advertisements, while the rest of the time, the nation is locked in its laager. Whether on the school ground, the public swimming pool, or the heart and minds of citizens, racism remains a ticking time bomb. Our leadership (politicians, religious civil society, etc.) seems incapable of decisively addressing this illness while South Africans continue to run amok.…

Mubende: Uganda has declared an end to an Ebola virus outbreak that emerged almost four months ago and claimed the lives of 55 people. “We have successfully controlled the Ebola outbreak in Uganda,” Health Minister Jane Ruth Aceng said yesterday at a ceremony in the central district of Mubende, where the disease was first detected in September. The move was confirmed in a statement issued by the World Health Organization (WHO), whose chief Tedros Adhanom Ghebreyesus hailed the East African country’s “robust and comprehensive response” to the widely-feared haemorrhagic fever. |…

Defeated former Brazilian president Jair Bolsonaro’s stay in Florida as his supporters rioted at home presents awkward optics for the US, which under President Joe Biden has vowed to champion democracy. Florida has for decades served as a home in exile to Latin America’s former strongmen and right-wing leaders and is the adopted state of Donald Trump, Bolsonaro’s political soulmate who has pushed a narrative of rigged elections. In scenes reminiscent of the January 6, 2021, attack on the US Capitol, Bolsonaro supporters in Brasilia swarmed the presidential palace, Congress and Supreme Court for four hours on Sunday. They unsuccessfully pleaded for the military to intervene against President Luiz Inácio Lula da Silva, whose January 1 inauguration Bolsonaro refused to attend. Biden offered “unwavering support” for Brazilian democracy in a…

THERE is a sense of hopelessness spreading across the Premier Soccer League (PSL), and the time has come to find a way to streamline Mamelodi Sundowns’ spending power in the transfer market. In Europe, the English Premier League and Uefa have restraints to curb clubs from extravagant spending. Both organisations have financial fair play rules to which clubs adhere. The rules also ensure that lower-division clubs do not spend far more on wages than they make in revenue. Judging by recent comments of DStv Premiership head coaches, a plan such as a salary cap is needed in the PSL. That would make sure that Sundowns cannot ‘buy’ the various titles that are at stake in South African professional football. Various coaches feel they are unable to compete with Sundowns in…

THE Lions might be battling to rediscover that winning feeling, but that is not true for tighthead prop Asenathi Ntlabakanye, who is clocking positive outings for his team amid the current slump. The injury to Ruan Dreyer against the Dragons in the opening EPCR Challenge Cup weekend in December last year opened the way for Ntlabakanye to receive more game time. The 23-year-old has taken his opportunity with both hands and has improved with every game that he has played. Against Munster, in a 33-3 losing effort, he was arguably the Lions’ best player, especially on defence, where he made a whopping 18 tackles. His off-the-ball work-rate was impressive as the burly prop shifted himself around the field with intent. Along with the pack, he transferred a mighty amount of…

International banking group says that energy crunch is hurting SA economy BNP Paribas South Africa has warned that the could could experience the worst power cuts on record with at least 200 days of loadshedding this year, as Eskom deteriorates even further. This comes as Eskom on Tuesday night ramped up its rotational power cuts to Stage 6 in the evenings, and Stage 4 during the day until further notice, crippled by unplanned breakdowns. The struggling power utility has implemented loadshedding everyday since the beginning of the year as more than half of its generating capacity remains offline. BNP Paribas senior economist Jeff Schultz yesterday said their long-held expectation of more acute energy supply challenges continued to materialise, and energy supply crunch will hurt even as energy intensity falls. Schultz…

South Africa’s transition to net-zero carbon emissions by 2050 could cost almost R6 trillion, according to a report by the National Business Initiative (NBI), in collaboration with Business Unity South Africa (Busa) and the Boston Consulting Group (BCG). According to the report, titled “Financing South Africa’s Just Transition”, the power sector offers the greatest opportunity for affordable decarbonisation. The report focused on what sources of finance are available to fund the transition, and how climate finance can be unlocked as a critical enabler of South Africa’s transition, especially for high-priority investment areas. The report found that R1 trillion is required by 2030, and R5.9 trillion is needed by 2050 to fund the net-zero transition, but many of these investments, it said, were commercially viable and would reduce existing expenditure on…

Local actress and fashion designer Enhle Mbali Mlotshwa is a hot topic on Twitter after Valentine Bango upped her game and released a recording of a call between her and the actress. It seems Mlotshwa just can’t catch a break from trending on social media as of late. In case you’ve missed the bubbling drama, just a few days into the new year, a woman identified as Bango went public with claims that Mlotshwa was wrecking her marriage. At the time, Bango had posted a lengthy statement and videos of her husband’s Instagram direct messages (DMs) between him and the actress. Bango went on a rant, accusing Mlotshwa of having an affair with her husband, Justice Huni, for years. The woman said that she only found this out after the…

PRESSURE is mounting on Defence Minister Thandi Modise to act against SANDF members who allegedly threw corpses on a pile of burning rubbish in Mozambique. While the SANDF has indicated that it would not be taking action against them, political parties and civil society organisations are threatening legal and political action to force her to act. Cope is the latest party to express disgust at the video circulating on social media. Cope national spokesperson Dennis Bloem said his party was calling on Modise to withdraw the soldiers implicated immediately. “(Modise) must immediately withdraw the soldiers of SANDF who are deployed in Mozambique and can be seen in a video in an incident where soldiers are throwing bodies on a pile of burning rubbish. “This is immoral and must never be…

As tens of thousands of children across the country started school yesterday, their parents shared the bittersweet moments on social media. Videos and pictures posted on social platforms tell a tale of how the first day of 2023 looked, with some finding it difficult while others simply enjoyed being taken to school. We took a look at some of the well-known personalities who gave their followers a glimpse of their special moments with their bundles of joy. Renowned actress Zola Nombona and actor Thomas Gumede shared a series of pictures with their son. “He didn’t want to take a picture with me; he only wanted his dad today, and after this, he literally pushed me away,” shared Nombona. EFF member Vuyani Pambo also shared an adorable snap with his son.…

What a brilliant piece of strategy by President Ramaphosa in enthusiastically introducing the two black teens involved in the alleged racist attack at the Maselspoort Resort, to the crowd at the Bloemfontein conference. Without doubt a touch of genius. It definitely lent immense credibility to his condemnation of racism in his speech. Racism is, no doubt, the major priority in SA. It surpasses all the minor issues such as the massive fraud and corruption, the continual looting of state coffers, 50 to 60 murders a day, gender violence and rape, thousands of schoolgirls falling pregnant, high unemployment (the main cause of the high crime rate in SA), failing infrastructure, crumbling healthcare, abject poverty, and our disastrous education system. All these issues pale into insignificance when compared with racism. Even blaming…

Bra Mbaks has taken quick ownership of his new role as secretary general of the ANC ... and he is making as much noise as a rooster in the heat of passion. He has made it clear to all his miscreant and ill-disciplined colleagues, that if they don’t play ball they will be severely chastised and banished to the sidelines – if not into the political wilderness – permanently. But how does one go about disciplining those who do not understand the fundamentals of discipline? For three decades the rag tag liberation movement has been unable to bring their card-carrying members to order, so Bra Mbaks, your bravado may well fizzle. You don’t have a snowball’s hope in fiery hell, of ever sorting out your people ... three decades of…

THE Competition Commission says it continues to monitor excessive pricing on school clothing items, to ensure compliance with its guidelines. In December 2020, the commission and the Department of Basic Education produced uniform guidelines to ensure uniforms were as generic as possible. Among the stipulations are: reduction in the number of unique uniform items to be acquired from pre-selected suppliers; parents being able to exercise their choice as consumers; and schools being required to manage a competitive bidding process before committing to service providers. Commission spokesperson Siyabulela Makunga said: “There is an encouraged awareness and com- pliance with room for improvement, of course. “Last year between August and October, we conducted a national survey working with the Department of Basic Education. 401 schools – 60% of which were public and…

Marine ecosystems have a valuable role to play in mitigating the effects of climate change. That’s because such ecosystems – and, particularly, vegetated tidal ecosystems like mangroves and salt marshes – capture and store a significant amount of atmospheric carbon dioxide (CO2). CO2 has accumulated in the Earth’s atmosphere at unprecedented levels since the industrial revolution. Scientific evidence shows this is the primary driver of climate change. “Blue carbon”, the term used to describe CO2 absorbed by marine ecosystems, was an important topic of discussion at last year’s COP27 talks in Egypt. More countries are bringing blue carbon into their climate change plans and policies. But, partly because of gaps in scientific knowledge, countries may not know how much potential blue carbon they have or where it is located. There…

Kyiv: Fighting in Soledar and Bakhmut in eastern Ukraine is the “bloodiest” of the war so far, Ukrainian presidential adviser Mykhaylo Podolyak said yesterday. “Everything happening now around Bakhmut and Soledar are the bloodiest scenes of this war,” Podolyak said. Russian forces have been trying to seize control of the area in the eastern Donbas region for months. “There’s a lot of blood, a lot of artillery duelling, a lot of close contact fighting, especially today in Soledar,” Podolyak said. Few civilians remain near the embattled towns of Bakhmut and Soledar. |…

ORLANDO Pirates have “trust in the process” and they will not give up on the Premiership title race as they believe they will turn the tide if they learn from their hardships. Pirates are currently enduring a rough patch, with only one win in their last seven league games. That poor streak, which includes losing to both Kaizer Chiefs and Mamelodi Sundowns, has put coach Jose Riveiro and his charges under huge pressure. The Spanish coach is forced to turn the tables on Saturday afternoon at home to Golden Arrows or he will run the risk of losing his job as they trail leaders Sundowns by 21 points. But Riveiro says they are not giving up. “We are all going through different moments in the season, good and bad. That’s…