Star2024-12-06的目錄

South African energy trading company, Etana Energy, aims to unlock R9 billion of new renewable energy investment through a groundbreaking deal with GuarantCo, part of the Private Infrastructure Development Group (PIDG), and British International Investment (BII), the UK’s development finance institution and impact investor. GuarantCo and BII will provide $100 million ($50m each) of default guarantee finance for Etana in South Africa’s largest “energy wheeling framework” transaction. It is expected that the $100m in guarantee financing will unlock an estimated R9bn of new renewable energy projects, providing a major boost to South Africa’s green energy transition and underlining the UK’s support for the country’s Just Energy Transition Partnership (JETP). This innovative type of deal is designed to unlock new renewable energy capacity by providing independent power producers (IPPs) with the…

The South African government has been stopped in its tracks from procuring an additional 1 500MW of coal-fired power to the national grid. The North Gauteng High Court in Pretoria on Wednesday reviewed and set aside the decision of the Minister of Minerals and Petroleum Resources, as well as the National Energy Regulator of South Africa (Nersa), to include an additional 1 500MW of coal-fired power in the 2019 Integrated Resource Plan (IRP2019). Judge Cornelius van der Westhuizen upheld the constitutional challenge to the inclusion of these megawatts to the IRP2019, also declaring the Ministerial Determination, which in 2020 made provisions for the inclusion of 1 500MW as well as the concurrence by Nersa, to be inconsistent with the Constitution, unlawful and invalid. The case was brought by three youth-based…

South Africa's economic outlook is increasingly promising, according to Goolam Ballim, the chief economist and head of research at the Standard Bank Group. Speaking at the Trade and Investment Seminar, part of the Atlanta Phambili initiative, Ballim highlighted key sectoral reforms and macroeconomic efforts that signal a turning point for the country. “South Africa stands at the cusp of a transformative economic resurgence, supported by significant reforms across key sectors,” Ballim noted. The energy sector, a long-standing obstacle to growth, is showing signs of recovery. Load-shedding, which has hampered productivity and investor confidence, is beginning to ease. “By the close of 2024 and into 2025, we anticipate entering an era where electricity shortages are largely behind us,” Ballim said. This improvement could inject approximately two percentage points into South Africa's…

In a groundbreaking move aimed at empowering South Africans financially, the Johannesburg Stock Exchange (JSE) has announced a nationwide initiative to help individuals claim unclaimed dividends. This campaign, spearheaded by the JSE, will address a significant issue in the country’s financial sector, where a billion rand remain unclaimed due to people losing track of their assets or simply not knowing they are owed money. In 2022, the Financial Sector Conduct Authority (FSCA) released research revealing that South Africa has approximately R88.56 billion in unclaimed assets. A large portion of this amount is linked to unclaimed retirement benefits, but a significant share is tied up in unclaimed dividends on the JSE. According to Ursula Du Plooy, head of issuer services at the JSE, this situation stems from a range of factors.…

The Broad-Based Black Economic Empowerment (B-BBEE) ownership scorecard for life insurance companies has exceeded the 25% net value target for the first time in 2023. The Association for Savings and Investment South Africa (ASISA) yesterday said this reflected progress made by black South African shareholders, who owned 27% of life offices that are ASISA members. The net value target pertains specifically to black shareholders’ unencumbered (debt-free) shareholding, making it an indicator of ownership within the B-BBEE scorecard. In 2018, unencumbered Black ownership of life offices was only 14%, showcasing a turnaround in the industry’s commitment to transformation. Kaizer Moyane, CEO of ASISA, yesterday lauded this progress as not insignificant, particularly against the backdrop of a struggling economy. He noted that while the 2023 figures indicate an upward trend across various…

South Africa’s Lebo M and Kagiso Lediga feature prominently on the Mufasa: The Lion King soundtrack, Music of Mufasa. The seven-track offering will be released worldwide on December 13, a week before the live animated film hits the big screen on December 20. The movie, which serves as a prequel and sequel to the 2019 remake of the 1994 film The Lion King, is voiced by a star-studded cast. They include South Africa’s John Kani and Donald Glover, Seth Rogen, Billy Eichner and Beyoncé Knowles-Carter, who reprise their roles from the remake. New cast members include Aaron Pierre, Kelvin Harrison Jr, Mads Mikkelsen, Thandiwe Newton, Tiffany Boone, Lennie James and Blue Ivy Carter, who makes her feature film debut. Directed by Barry Jenkins, the movie will pick up in the…

The annual Spotify Wrapped list has unveiled a vibrant tapestry of South African musical talent, proving that the local scene is thriving. With local music consumption skyrocketing by a remarkable 93% this year, South African music lovers are wholeheartedly embracing the sound of their nation. This year’s Wrapped list serves as a comprehensive reflection of the most adored artists, creators and songs among Spotify subscribers. Leading the charge are magnetic dance tracks that captivate the nation throughout the year, with amapiano solidifying its reign as the defining genre of 2024. Artists such as Kabza De Small, TitoM, Uncle Waffles and Mthandeni SK have emerged as the heartbeat of this flourishing scene, energising dance floors and playlists alike. Once again, SA music producer, De Small has claimed the title of the…

Practice demands public apology insisting that all transactions have been above board The CEO of the Road Accident Fund (RAF), Collins Letsoalo, has publicly accused multiple law firms of benefiting irregularly from medico-legal claims. Letsoalo claims these firms have received large sums from the RAF over the past five years, suggesting that significant fortunes have been amassed through alleged irregularities. In a recent report by IOL, it was revealed that the RAF has blocked R65 million worth of claims over the last three financial years as part of a crackdown on fraudulent and corrupt activities. A total of 2 031 fraudulent claims were rejected, with 870 in 2023/2024, 713 in 2022/23, and 448 in 2021/22. These claims were not processed or finalised due to their fraudulent nature. Letsoalo claims that…

Cybercrime expert, Dr Craig Pederson, is warning South Africans to be on the look for online scams this festive season as cybercrime continues to surge. He highlighted that swindlers have infiltrated the cybercrime market, and gather sensitive information due to a weakness in personal security. “It would probably take me between five and 10 minutes to gain access to a significant amount of your personal information, more than you would be comfortable with,” said Pederson. Cyber criminals have moved on to use sophisticated methods to defraud people, such as social engineering scams, deep-fake audio and video manipulations, among others. Pederson revealed that South Africa is too close to be considered the cybercrime capital of the world. “In the last seven years, we have seen a dramatic increase in both the…

AS PART of their community engagement programme, the Mzansi National Philharmonic Orchestra performed and engaged with over 300 young students at the Athlone School for the Blind in Cape Town. After performances in Johannesburg’s Linder Auditorium and the Sand du Plessis Theatre in Bloemfontein, the orchestra’s national 2024 tour, titled Rhythms of Hope, reached a crescendo on Wednesday with a highly anticipated concert at the Cape Town City Hall that featured top orchestral musicians as they brought a stunning repertoire to life. This tour celebrates hope across the country as South Africa marks 30 years of democracy. “The national tour comes hot on the heels of the Mzansi Philharmonic’s most recent triumph, which saw the formation of the Africa United Youth Orchestra, made-up of the continent’s most promising young…

There is a bit of a revenge plot developing between the Bulls and English club Saracens, as they eyeball each other ahead of their Champions Cup encounter this weekend. Last year, at this very stage of the tournament, Sarries travelled to Loftus Versveld, losing that encounter 27-16. They did so with a fair chunk of their first-choice players, led by England international Maro Itoje, in tow. Former Bulls player Ivan van Zyl was in that team, too, and now as Saracens welcome the visitors to StoneX Stadium in London tomorrow (kick-off 7.30pm), the scrumhalf is looking for a bit of retribution, or perhaps it is more equilibrium. “I was a true Bull growing up and I used to go to support the team,” he admitted, on the Saracens website yesterday.…

Citi South Africa yesterday said it believed that the country was showing early signs of economic recovery and could exit the Financial Action Task Force’s (FATF) greylist by the middle of next year, in spite of stubborn economic and structural issues. The FATF increased monitoring on South Africa and placed it in a greylist after finding several areas of concern, including inadequate anti-money laundering controls. Gina Schoeman, Citi South Africa economist, said during a virtual briefing yesterday that South Africa had emerged from the elections as “quite a mature democracy”. Schoeman said South Africa was unlikely to reach 3% gross domestic product (GDP) growth over the next two years. “A 2% to 2.5% range seems more likely,” she said. Schoeman’s prediction comes on the heels of a shocking GDP print…

Bitcoin breached the key $100 000 mark on a confluence of political events yesterday, including the toppling of the French government, civil unrest in South Korea, and US President-elect Donald Trump’s nomination of Bitcoin advocate Paul Atkins to lead the Securities and Exchange Commission, which regulates cryptocurrency. Yet this run is not over, said Nigel Green, the CEO of the deVere Group, one of the world’s largest independent financial advisory and asset management organisations. Green pointed to the digital currency moving beyond $100 000 as investors seek a safe haven. Bitcoin reached $102 444 yesterday at 1.30pm South African time. “When governments falter or act unpredictably, people inevitably seek alternatives that don’t rely on institutional trust. That’s where decentralised currencies come in,” Green said. Unlike fiat currencies, which are…

Retirement should be a time of financial freedom, enjoyment, and spending more time with family and close relatives, however, without proper financial planning, it can come with serious risks and consequences. Here are five critical risks retirees face and why working with a Certified Financial Planner (CFP®) can increase your retirement income longevity by up to 12 years. 1. Liquidity risk One of the biggest challenges in retirement is maintaining a stable income, especially when markets fluctuate. Liquidity risk arises when retirees need cash for daily expenses but find themselves forced to sell investments at a loss during market downturns. To avoid this, it’s important to maintain a portfolio with a Money Market or Income Fund that can weather temporary market dips without affecting long-term investments. 2. Inflation risk Inflation…

Construction activity remained lethargic in the third quarter of 2024 when compared with the same period last year, an index of construction-related activity showed yesterday. The Afrimat Construction Index (ACI) declined by 1.3% in the third quarter, but on a more positive note, seven of the 10 constituent indicators comprising the index were in positive territory, much the same as the previous quarter. Economist Dr Roelof Botha said a significant improvement in three indicators was feature of the third quarter. These were the “Buildings Completed” data, particularly in the metros and larger municipalities, which was up 23.3%, “Employment in construction” up 14.6%, and “Sales Values of Building Material,” which was up by 5.9%. Other indicators that recorded meaningful improvements on a quarter-on-quarter basis were the value of “Building Plans Passed,”…

It has been a tough year for South Africa’s largest manufacturing sector, as automakers struggle to compete against less expensive Chinese and India-sourced vehicles in a shrinking market. The latest figures from the National Automobile Association of South Africa (Naamsa) are not positive. Total domestic vehicle production year-to-date to the end of October was 18.8% lower at 422 668 compared with the same time last year. November may have represented the second consecutive increase in monthly new vehicle sales this year and might signal the start of a long-awaited upward trend in the market, but total domestic sales, year-to-date to the end of November, was down 3.47% to 474 469 units, versus the same period last year. Exports, which provide economies of scale to the local manufacturers so that their…

lutho.pasiya@inl.co.za Whether steaming, grilling, or frying, your chosen method plays a big role in deciding how many nutrients stay or get lost. Cooking is not merely an act of sustenance; it plays a crucial role in determining the nutritional value of our food. From steaming to frying, every cooking method affects the bioavailability of nutrients, ultimately influencing our overall health. As consumers become more discerning about their dietary choices, understanding these impacts can empower better cooking practices for improved nutrition. At its core, cooking alters food’s chemical and physical properties, which can both enhance and diminish its nutritional quality. Different methods produce varying results regarding taste, texture, and crucially, nutrient retention. The science of cooking highlights several factors linked directly to nutrition: temperature, time and moisture. It is within these…

The SAA Pilots Association (SAAPA) and the National Transport Movement Pilots Forum (NTM-PF) have warned of a secondary strike notice that could bring the airline to a complete halt. The notice, which was expected later yesterday, aims to include ground crew and other staff if SAA does not improve its 8.46% wage increase offer to meet the 15.7% demanded by pilots. The ongoing strike, which began yesterday, has already disrupted operations, forcing SAA to suspend its Perth, Australia, and São Paulo, Brazil, routes and leaving hundreds of passengers stranded at its service desks. Pilots picketed outside SAA’s office at OR Tambo International Airport, calling on the airline to return to the negotiating table. NTM-PF general secretary Ephraim Mphahlele said that as of yesterday, 60% of pilots had joined the…

NPA Gauteng, Pretoria Division head, Advocate Sibongile Mzinyathi, has outlined some of the unit’s successes in the courts for the year 2023/24. Mzinyathi, who briefed the media yesterday, said even though the Gauteng region has recorded impressive conviction rates across its courts, it was still taking too long to finalise corruption cases. Despite celebrating high conviction rates across various courts, he acknowledged a pressing concern: the protracted timelines in finalising corruption cases. Mzinyathi added that lack of resources and skilled personnel were the key factors in some of the challenges faced by the unit, especially with high-profile crimes. “We continue to experience challenges in the finalisation rate of corruption matters. “These cases require prosecutors with specialised skills and are often hotly contested by the accused in court,” he added. “These…

Emerging out of the 2024 Vroedvrou film documentary by Professor Siona O’Connell, a groundbreaking children’s book was launched in Kuboes in the Northern Cape. Titled My Third Ouma | My Derde Ouma | Ti !Nona||î Aumas, this is the first children’s book in Nama to be published in South Africa. The book delves into the heart of a Nama midwife’s legacy. Ten-year-old Sonnetjie, entrusted to the care of Ouma Toesie, witnesses first-hand the wisdom and healing hands of a traditional midwife. As Sonnetjie’s mother prepares to give birth, the narrative unfolds against the backdrop of a community deeply rooted in tradition. As emphasised by the documentary, Vroedvrou, giving birth is the epitome of challenge for a woman. Oftentimes, modern medical care lets new mothers down when they need the support…

RESIDENTS in Pretoria South have expressed their frustration due to extensive power outages following a disastrous fire at the Claudius substation on Sunday. The affected residents from Laudium, Christoburg and Itireleng took to social media to express their dissatisfaction after they were informed that power supply will be restored on weekend. Their reactions were despite yesterday’s assurance by a local councillor Naeem Patel that authorities were doing everything possible to restore power as quickly as possible. Patel said: “A total of 52 council workers, divided into 12 teams, are working tirelessly to get power restored as soon as possible. I understand the frustration this outage has caused, but I want to assure you that no one could have foreseen the fire breaking out at the substation.” He said further materials…

Ingredients 4 limes 1 cup tequila 1/4 cup olive oil 2 teaspoons salt 5 cloves garlic 1 jalapeno, sliced 1/2 bunch chopped fresh coriander 12 boneless, skinless chicken breasts 2 cups grated matured cheddar Options for servings: Corn tortillas Flour tortillas Grated mature cheddar Pico de gallo Jalapeno slices Lime wedges Avocado slices Sour cream Method Slice open the limes and squeeze the juice into a food processor or blender. Add the tequila, olive oil, salt, garlic, jalapenos and coriander. Blend the mixture until totally combined. Add the chicken to a large plastic bag and pour in the lime-tequila mixture. Seal the bag and marinate in the fridge for several hours or overnight. Remove the chicken from the bag and grill it over medium-high heat. Rotate the chicken 45-degrees on…

As the festive season draws near, families across South Africa are gearing up for joyous reunions and celebrations. However, the occasion also presents a challenge: managing alcohol consumption during these gatherings. Meandrie Bridges, a psychological counsellor at the Journey Recovery and Wellness Centre, emphasises that alcohol abuse can disrupt even the most meticulously planned gatherings, leading to impaired judgement, emotional instability, and heightened conflict. Such circumstances can result in risky behaviours, including driving under the influence (DUI). If these situations spiral out of control, they can inflict lasting emotional scars, such as trauma and post-traumatic stress disorder (PTSD). Before and during the gathering Bridges offers practical strategies for families to create a safe and enjoyable environment during the festive season: Set Clear Expectations: Prior to the event, discuss boundaries and…

If Julian Redelinghuys was to crunch the numbers – and trust that the former Springbok prop, who is a registered accountant, would crush those figures as he once crushed opposition scrums – he would find that the Lions have indeed faced their Welsh opponents an inordinate amount over the last three seasons. Indeed, one can argue it is becoming a bit of a rivalry. Whether it be in the United Rugby Championship (URC) or in the EPCR Challenge Cup – which is the case once again this weekend when the Joburgers face the Ospreys in Swansea – the Lions cannot seem to escape travelling to and fro from the Valleys. “It feels like we have played these Welsh sides in the URC and EPCR a lot,” Redelinghuys noted, with his…

Proteas all-rounder Wiaan Mulder says the Proteas batting depth and the return of captain Temba Bavuma will continue to be important for South Africa as they chase a spot in the World Test Championship (WTC) final. South Africa beat Sri Lanka by a massive 233 runs at the Kingsmead Cricket Ground in Durban last week, and they took a huge step in their quest to qualify for the first WTC final set to be held at the iconic Lords Cricket Ground in the United Kingdom next year. The second and final Test match is currently underway at St Georges Park in Gqeberha, and the Proteas need to win that clash and the upcoming two-match series against Pakistan to ensure their path to that final is uninterrupted. Mulder has been one…

Director of the Infrastructure Finance Advisory Institute expresses cautious optimism The African Development Bank (AfDB) has revealed that it is in talks with South Africa’s state-owned freight and logistics firm, Transnet, to revive plans to establish a rolling-stock company that would supply the southern African region and the rest of the continent from as early as next year. This comes as the AfDB today released the first tranche in a series of four payments of the $1 billion (R18.85bn) loan, which was granted to Transnet earlier this year to support the company’s turnaround plan, which includes allowing private sector participation in its operations. Solomon Quaynor, vice-president for private sector, infrastructure and industrialisation at the AfDB, yesterday said they were looking at the structural reforms implemented by the South African government…

Yesterday, I attended the Trade and Investment Seminar, part of the Atlanta Phambili initiative, alongside US Ambassador to South Africa, Reuben Brigety. The event showcased the growing collaboration between South Africa and the city of Atlanta, a relationship that holds much promise for trade and investment. The positive sentiment in the room was palpable, highlighting the strengthening investment case for South Africa. We all know the importance of deepening trade ties with America, especially with the wild card that is Donald Trump soon to be back at the helm. Trump's tariffs are a worry, as is his potential treatment of Africa. South Africa must tread carefully, balancing its North-South and South-South relationships while keeping an eye on economic benefits. As Africa's population continues to grow, contrasting with the West's decline,…

Not everyone is naturally inclined to save or skilled with numbers, but like many habits, saving can be cultivated over time with effort, discipline, and commitment. Building the habit of saving to grow wealth begins with adopting a healthy financial mindset. In this article, we explore practical strategies to develop a strong savings mentality. Remind yourself why saving is important to you: Saving for the sake of saving is not likely to keep you motivated. Be intentional and specific about what you intend to save for. If necessary, develop a vision board on which you can place visual reminders of exactly what it is you are working towards. Set SMART money goals: Ensure your financial goals are Specific, Measurable, Attainable, Realistic, and Timely (SMART). Unrealistic or distant goals can lead…

A business delegation from the US led by Mayor of Atlanta, Andre Dickens, has pledged to strengthen the trade and investment bonds between Atlanta in Georgia and South Africa. Speaking at the Trade and Investment Seminar as part of the Atlanta Phambili initiative yesterday, Dickens referenced global human rights icons Martin Luther King and Nelson Mandela as part of the historical legacy that bound Atlanta to South Africa, saying what the delegation was aimed at was to “move forward together”. “We have numerous economic synergies. In the same way that South Africa is the gateway to the rest of Africa, so Atlanta is the gateway to the rest of America. 80% of the US is within a 2-hour flight of Atlanta. We have a shared cultural DNA and that is…

On the eve of its scheduled theatrical release in Kuwait, Wicked was removed from cinema listings. The ban, reportedly implemented by the Kuwaiti Information Ministry, has yet to be officially explained but speculation suggests the inclusion of an LGBTQIA+ character may have been a contributing factor. This follows a trend in Kuwait, where Hollywood films like Barbie were previously banned to uphold “public ethics”. This ban occurred alongside similar actions in Lebanon, where authorities argued the film promoted homosexuality and gender transformation. Culture Minister Mohammad Mortada said it contradicts “moral and religious values as well as the principles of Lebanon” and “promotes homosexuality and sexual transformation”. The movie also “promotes sexual deviance and transsexuality,” the minister said. Wicked, the movie adaptation of the hit Broadway show directed by Jon M.…

Minister in the Presidency, Khumbudzo Ntshavheni, has confirmed that the government has conducted inspections of more than 200 000 spaza shops, resulting in the closure of over 1 000 spaza shops, supermarkets, and warehouses that failed to comply with health regulations. During a media briefing yesterday, Ntshavheni outlined the extent of the government’s intervention after a surge in food poisoning incidents, which recently claimed the lives of more than 20 children. “As of November 2024, government interventions have resulted in the closure of more than 1 000 spaza shops. Additionally, we have confiscated large quantities of goods and issued numerous fines for violations of the by-laws,” she said. President Cyril Ramaphosa re- inforced the urgency of the situation in his address to the National Council of Provinces on November 28.…

Joburg Mayor Dada Morero confirmed on Wednesday that the Usindiso Building will serve as his new office following the closure of the Metro Centre due to non-compliance with health regulations. The city council decided to shut down the Metro Centre last September. Morero stated that relocating to Usindiso is crucial for its reconstruction, emphasising its heritage despite the high costs involved. The Usindiso Building, which marked a year since it caught fire, resulted in the death of over 70 illegal occupants. “We have also taken the decision to move the mayor’s office to Usindiso Building – it is a revolutionary act,” Morero remarked. The mayor highlighted that this move would allow local government to better understand the challenges faced by residents in the inner city. The Joburg municipality is currently…

8 Months Left James Patterson & Mike Lupica Loot (R269) Century There are many expletives one can use to describe Jane Smith, but for the purpose of this review, fierce comes to mind. She is a top criminal defence attorney, and she’s also fighting a terminal cancer diagnosis. All of this while being at the height of her career, taking on another huge case for a client she just got acquitted of triple homicide. Jane has Jimmy by her side, her business partner and wingman. Together, Jane and Jimmy set out to uncover the truth: was their client framed for yet another set of murders, or is he more dangerous than they thought? As the pair dig deeper, they find themselves up against dangerous, well-connected criminals willing to kill to…

Ingredients Glug olive oil 1 packet (230g) broccoli Stems 1 packet (125g) sugar Snap Peas ½ packet (200g) frozen Edamame Beans, blanched and shelled ½ punnet (75g) crunchy mixed sprouts 1 packet (100ml) soy, honey & ginger stir fry sauce 1 packet (250g) cauliflower and turnip noodles Salt and milled pepper For serving: Toasted sesame seeds Sliced red chilli Method Heat oil in a pan over high heat until almost smoking. Fry vegetables and sprouts for a minute, or until softened. Add stir-fry sauce and cook for 3–5 minutes Tip in noodles and stir-fry for another 3–5 minutes. Season. Serve sprinkled with sesame seeds and chilli. | Pick n Pay…

Cooking oil, toilet paper, coffee and milk were among the key items that shoppers prioritised during the Black Friday shopping weekend. This shift in consumer behaviour where shoppers spend on essential goods instead of luxury items has been seen in recent years. Investment analyst from Anchor Capital, Casey Sprake, said more consumers seemed to have spent on necessities than compared to previous years which is a sign of the trying economic times. Retailers still reported good sales saying most deals were spread out across the month of November or during the week ahead of Black Friday on November. Massmart said the group had a very successful Black Friday promotion with high foot traffic and online participation at its Game, Makro, and Builders stores throughout the month of November. “Consistent with…

Richards Bay FC has hit the ultimate low in their Betway Premiership season so far, and they need a result against SuperSport United to begin their recovery. Both sides are fresh off losses in their last league encounters, and they will be desperate for points when they go head to head in their league fixture at the King Zwelithini Stadium on tonight (7.30pm kick-off). The Natal Rich Boys have had it tough this season, and they currently find themselves at the bottom of the log with only one win from nine league matches so far. The KZN side is currently without a permanent coach after the club parted ways with the experienced Brandon Truter last week. His appointment earlier this year came with a lot of hope, especially with the…