Star2025-01-27的目錄

Lesetja Kganyago, South African Reserve Bank (SARB) governor, was unanimously elected to the office of Chancellor of Stellenbosch University (SU) on Friday. This follows the end of Justice Edwin Cameron’s term in December 2024. The Chancellor is the titular head of the University. An electoral college consisting of all members of the SU Council and the executive committee of the Senate met to elect the SU’s 16th Chancellor. Kganyago received an honorary doctorate from SU in 2018 and the SU viewed him as one of the finest public-policy minds in the country. In December 2020, Nelson Mandela University also conferred upon him an honorary Doctorate of Commerce. He holds a Master of Science degree in development economics from London University (School of Oriental and African Studies) and a Bachelor of…

The rand remained stable over the weekend at a range of R18.38 - R18.41 against the US dollar, maintaining its rebound that started on 10 January, as the South African Reserve Bank (SARB) is poised to lower the costs of borrowing this month. The SARB is expected to announce a 25 basis points rate cut on Thursday on the back of slower pace of inflation after the headline consumer price index increased to 3% in December from 2.9% in November, mainly driven by slower deflation in transport and increasing food inflation. Consumer prices, one of the main factors for monetary policy decisions, remain at the lower end of the SARB’s 3-6% target range and still below the 4.5% midpoint for five consecutive months now. Inflation is forecast to drift upwards…

The government has said that the proposed changes to the Broad-Based Black Economic Empowerment (B-BBEE) Act to shift the contribution of the private sector into a R100 billion Transformation Fund would not impose new obligations and commitments from business the required funding by 2029. In a statement to contextualise the objectives of the Transformation Fund and the process underway to generate discussion and arrive at consensus for its eventual implementation, Minister of Trade, Industry, and Competition, Parks Tau, said the Fund was a catalyst for change and not merely a funding mechanism. “The Transformation Fund is not about imposing new obligations but about ensuring that existing commitments under the B-BBEE legislation are strategically utilized to create meaningful economic transformation,” Tau said. “It embodies our constitutional mandate to achieve equality and…

In 1998, a team of African demographers, under the leadership of Professor Tukufu Zuberi and I, convened at Statistics South Africa (StatsSA) and subsequently established the African Census Analysis Project (ACAP). Zuberi is the Lasry Family Professor of Race Relations and a Professor of Sociology and Africana Studies at the University of Pennsylvania, US. He made his mark in mobilising African scholars to study demography at the University of Pennsylvania. Zuberi undertook to lead the revival of African census data, which was stored on rolls of paper and tapes that were no longer machine-readable. Together with African scholars, he painstakingly compiled these and handed them back to African authorities. South Africa was a beneficiary of this effort, particularly regarding some of the pre-1996 census data. In 2001, StatsSA searched for…

Foschini Group (TFG) grew sales 8.4% in the third quarter of its 2025 financial year, significantly ahead of the 2% contraction in the first half, after improved trading over Black Friday and the Christmas period in the TFG Africa division. The South Africa-based retailer with stores in the UK and Australia said in a trading update on Friday that for the nine months to December 28 (YTD), sales increased by 1.6% compared with the prior nine-month period, with gross profit up by 5.7%. With a modest economic recovery predicted for South Africa, TFG Africa’s sales however grew stronger by 14.6% in the three weeks to January 18, 2025. TFG Africa also plans to expand its store footprint by opening more than 100 new stores in the 2026 financial year, whilst…

The Department of Statistics at the University of Pretoria (UP) is partnering with United Nations Volunteers (UNV) to develop the first-ever Global Volunteer Index. UP will lead the development of a framework for a global volunteering index. This project is said to anchor the university’s standing as an international leader in translating cutting-edge statistical sciences research excellence into volunteering settings and practice. "The project will provide a valuable tool for measuring volunteer work and its impact on individuals, their personal development, communities, and national economies worldwide," said Project Director, Prof Samuel Manda from UP’s Department of Statistics. The initial phase of this project focuses on developing a framework and methodology for calculating the Global Volunteering Index (GVI). This index will be featured in the upcoming edition of the State of…

When financing a new car, beware of the balloon payment. This was a lesson learned the hard way by a man who lost his legal bid to get his car back after it was repossessed by the bank. This was, according to him, all because he never realised that after paying off his monthly instalments, there was still a balloon payment due. When he eventually realised this, he could not afford the additional payment. Sthembiso Bokleni turned to the Eastern Cape High Court sitting in Grahamstown after Westbank obtained a default judgment against him for not paying the outstanding balloon payment on his car. He claimed he knew nothing about this extra payment, as this was never explained to him when he got financing for his new car. Bokleni was…

THE Federated Hospitality Association of South Africa (Fedhasa) said that they welcome the World Tourism Barometer from the UN Tourism report, indicating that global tourism was reaching pre-Covid-19 numbers. However, they have raised concerns about tourism numbers locally, having not reached pre-Covid-19 numbers. Business Report reported recently, according to the latest World Tourism Barometer from the UN Tourism, an estimated 1.4 billion tourists travelled internationally in 2023, indicating a virtual recovery (99%) of pre-pandemic levels. The UN Tourism said that this represents an increase of 11% over 2022, or 140 million more international tourist arrivals, with results driven by strong post-pandemic demand, robust performance from large source markets, and the ongoing recovery of destinations in Asia and the Pacific. UN Tourism reported that the Middle East, Europe, and Africa saw…

Richards Bay (0) 1 Mbuthuma 47’ Orlando Pirates (2) 3 Maswanganyi 22, 26; Mabasa 90+3 A first half brace by Patrick Maswanganyi guided Orlando Pirates to victory over Richards Bay and a place in the round of 16 of the Nedbank Cup at the King Zwelithini Stadium yesterday. The Buccaneers kicked off their defence with a professional display that saw them weather a tough second period, before a third by Tshegofatso Mabas in stoppage time confirmed the result. Maswanganyi found the breakthrough with a stunner from outside the box after reasonable pressure from Pirates early on. He was teed up by Relebohile Mofokeng, who unselfishly laid the ball in his path after getting on the end of a cutback from Mohau Nkota. Four minutes later, it was Maswanganyi at the…

Do the Lions want to be also-rans, or genuinely compete for the United Rugby Championship title? Well, that question will be answered over their next four matches, when they will face the Stormers, Bulls and then the Sharks twice in a crucial month of SA derbies. The Lions had their moments in the past weekend’s 35-22 defeat to the Bulls at Ellis Park, but ultimately couldn’t stop the visitors’ bench from taking the game away from them in the second half. They were 17-13 ahead after 53 minutes when flyhalf Sam Francis slotted a penalty, but then conceded a try almost immediately when Bulls lock Cobus Wiese stormed over after some delightful touches from replacement pivot Willie le Roux. The veteran Springbok got the Bulls buzzing on attack, and his…

Newly-inaugurated United States President, Donald Trump’s decision to remove that country from the Paris Agreement on climate change will adversely affect global momentum and South Africa’s ability to source funding from the US. Yet, it also presents an opportunity for South Africa to innovate and become a leader, as the most industrialised country in Africa – setting the tone and pace for Just Energy Transition (JET). The Minister of Forestry, Fisheries and the Environment, Dr Dion George, has expressed disappointment over Trump’s withdrawal from the Paris Agreement a week ago, soon after he was inaugurated as the 47th President of the world’s largest economy. “Americans have a pressing moral obligation, not only to lead in reducing emissions, but to support developing economies in contributing to the global effort, and to…

What should be on South Africa’s to do list for 2025? My list for South Africa range from dealmaking to getting Transnet on track to improving the plight of youth. And no doubt most South Africans have been pondering what the year ahead will hold. This comes after the volatility we have faced in the past few years—from Covid-19 to the cost-of-living crisis, feeling poorer in the pocket, and the changes that the Government of National Unity (GNU) has ushered in. And, indeed, this year started with a bang for South Africa, with President Cyril Ramaphosa attending the World Economic Forum as the country’s prospects improved. At the beginning of last year, the government remained silent on why the president failed to attend, but we all know it was…

The Expropriation Act is a long overdue common-sense intervention by the government led by the ANC to accelerate efforts to address the desperate need for land whilst providing a rational framework that protects the rights of ordinary citizens. Cosatu has been intimately involved in the development of the Expropriation Act over the past decade at Nedlac and Parliament. We support it as it empowers government to accelerate land reform, to address the legacies of apartheid and colonialism and our continuing inequalities. If one listens to hysterical right wing commentariat, one would assume the Act is an irrational, unconstitutional license for anarchy that will collapse the economy. A simple read of it shows it is a remarkably well crafted, surgical and detailed law in line with the Constitution and international…

South Africa’s economic growth will this year be supported by opportunities from the Two-Pot pension withdrawals, improved electricity supply and expected monetary policy easing by the central bank, however, there are uncertainties to the country’s status in the African Growth and Opportunity Act (AGOA). This was said Standard Chartered in its latest report for South Africa and Africa outlook. Economists and investors have warned though of some volatility ahead for South Africa as a result of US President Donald Trump’s “policy risk”, which may result in higher consumer inflation and a ramping up of monetary policy. “Growth in 2025 is expected to be supported by improved electricity supply, two-pot pension withdrawals, and the South African Reserve Bank's (SARB) planned policy easing due to improved inflation,” said economists at Standard Chartered…

The situation between Blake Lively and Justin Boldini has been spiralling out of control since the beginning of the harassment saga. Lively and Baldoni are engaged in a complex legal dispute involving allegations of sexual harassment, defamation and retaliation. The saga began in December when Lively filed a formal complaint with the California Department of Civil Rights. In the complaint, she accused Baldoni, who directed and co-starred with her in It Ends With Us, of creating a hostile work environment through inappropriate comments and boundary violations during production. Lively also alleged that Baldoni and his team retaliated against her by launching a smear campaign. Baldoni quickly denied the allegations, responding with a $250 million defamation lawsuit against The New York Times, claiming that the publication misrepresented the situation. On January…

The Economic Freedom Fighters (EFF) and the African Transformation Movement (ATM) have strongly condemned the South African government’s response following the tragic deaths of nine soldiers from the South African National Defence Force (SANDF) during a fierce skirmish with M23 rebels in the Democratic Republic of Congo (DRC). This call for accountability comes amid unsettling reports that the soldiers were not only unsupported but also faced serious logistical challenges, including running out of provisions. In a heartfelt statement yesterday, EFF Member of Parliament Carl Niehaus expressed the party’s deep shock and sorrow over the loss of these “heroic” soldiers deployed as part of the Southern African Development Community Mission in the DRC (SAMDRC) and the United Nations Organisation Stabilisation Mission (MONUSCO) in the North Kivu Province. The conflict, notorious for…

The Cooperative Governance and Traditional Affairs in KwaZulu-Natal has removed Prince Simphiwe Zulu from its payroll following his dismissal as a spokesperson by the king. The department confirmed yesterday that it has actioned the king’s request to relieve the prince of all his duties. The department’s spokesperson, Senzo Mzila, said the department has followed the king’s instructions. As the king’s representative both in Cogta and in the house of traditional leaders, the prince was drawing a salary from the government. “The department has actioned the request received from His Majesty's office,” said Mzila. The department’s confirmation means that the letter that was leaked to social media platforms, which the king’s office could not confirm because he was in cultural seclusion, was indeed authentic. In the letter, the king accused the…

The Gauteng Roads and Transport Department is facing mounting pressure to clear the backlog of operating permits, which has been affecting e-hailing drivers. The drivers took to the streets on Thursday, protesting against the Tshwane Metro Police Department's (TMPD) decision to impound their vehicles for operating without the necessary permits. The Gauteng Provincial Regulatory Entity (GPRE), responsible for issuing permits under the department's authority, has faced criticism for causing delays in the permit issuance process. EFF in Gauteng called on the City of Tshwane and TMPD to immediately halt impounding vehicles. “We demand that they work collaboratively with the GPRE to expedite the issuance of operating licences. Such collaboration is vital to prevent further economic harm to e-hailing drivers, who are critical contributors to the local economy,” the party said.…

The return of US President Donald Trump represents a continuation of dangerous trends in international politics. These are the views of the South African Federation of Trade Unions (Saftu), which added that his second coming represents a renewed threat to global solidarity, equality, and sustainability – the very themes South Africa will promote while hosting Trump as part of the G20 this year. The federation said Trump’s brand of narrow nationalism, climate denial, and disdain for multi-lateral endangers the progress made by international movements committed to justice and solidarity. Trump, who took the presidential office following his inauguration on January 20, was re-elected after he defeated Democrat Kamala Harris in November. He was also elected as the President in 2016 and lost the election to Vice President Joe Biden in…

Willie le Roux’s master-class at flyhalf against the Lions would seemingly make him the obvious choice to call the shots for the Bulls going forward – but Jake White doesn’t see it that way necessarily. Johan Goosen’s absence for up to three months due to a knee injury had the alarm bells ringing at Loftus Versfeld this week, but Boeta Chamberlain stepped up in solid fashion as the No 10 in the 35-22 United Rugby Championship victory at Ellis Park at the weekend. Chamberlain has grown pleasingly as a flyhalf with the greater game-time he has been receiving this season, but Le Roux’s reading of the game and ability to find space out wide sets him apart. The veteran Springbok fullback of course started his provincial career as a No…

Sunrisers Eastern Cape: 118 all out David Bedingham 48; Hardus Viljoen 4/24 Joburg Super Kings: 119/1 Devon Conway 76*; Beyers Swanepoel 1/24 Joburg Super Kings won by nine wickets The Joburg Super Kings returned to winning ways with a stunning bonus-point nine-wicket victory over the Sunrisers Eastern Cape at the Bullring yesterday evening. Opening batter Devon Conway guided the Super Kings to victory with an unbeaten half-century, his first of the season. Conway's knock enabled the Super Kings to reverse their fortunes after a challenging week on the road, during which they lost three consecutive matches. The left-handed Joburg-born batter smashed 11 fours and three sixes on his way to the match-winning 76-not-out. Wihan Lubbe proved to be the perfect partner to Conway, rotating the strike with ease…

Jannik Sinner retained his Australian Open title with an emphatic 6-3, 7-6(4), 6-3 win over Alexander Zverev yesterday, breaking new ground for Italian tennis and leaving his German rival smarting after a third Grand Slam final defeat. World No 1 Sinner became Italy's first player to win three Grand Slam crowns, moving past Nicola Pietrangeli who won back-to-back men's titles at Roland Garros in 1959-60. "We worked a lot to be in this position again," said Sinner, at the trophy presentation, paying tribute to his team. "It's amazing to share this feeling with all of you, it's amazing to achieve things and share it with you guys. "Keep believing in yourself," Sinner said to the runner-up. "We know how strong you are as a player and person and you can…

Leicester pushed Tottenham boss Ange Postecoglou closer to the sack with a 2-1 win that extended the north London side's dismal run and lifted the Foxes out of the Premier League relegation zone yesterday. Postecoglou's troubled team blew the lead on home turf as they crumbled to a sixth defeat in their last seven league games. With only one win in their last 11 top-flight matches, Tottenham are languishing in 15th place, just eight points above the bottom three. It was another woeful result for the beleaguered Postecoglou, who has faced mounting calls for his dismissal throughout a turbulent second season in charge. Tottenham are dangerously close to being sucked into the relegation battle and trips to Brentford and Aston Villa in their next two league games -- either side…

Richard Bay Coal Terminal is working with industry players and Transnet to find solutions Richards Bay Coal Terminal (RBCT) has set its sights on ramping up capacity and improving export volumes, but faces significant hurdles stemming from logistical challenges and operational inefficiencies. While the terminal offloaded an impressive 6 342 trains and exported 52 million tons of coal in 2024—an increase from 47.2 million tons the previous year—it is constrained by issues including spare parts availability, cable theft, and broader viability concerns. This was described as “really positive” by executives at the company on Friday during a media tour. “We are navigating complex logistics challenges (and) our key to success is to collaborate with Transnet. We are on an operational efficiency drive and we are intensifying our efforts to…

The trade policies and rhetoric under Donald Trump’s administration have significantly influenced global markets, including South African equities. In November, Trump announced aggressive tariffs targeting China, Mexico, Canada, and other nations. A US weighted average tariff of up to 18% spurred fear-driven markets, with US Treasury yields increasing aggressively as investors priced in heightened economic uncertainty. This raised concerns about a potential global trade war, a scenario that could halt global trade and significantly impact economies. While Trump’s rhetoric has been aggressive, it is unlikely that he will implement such extreme tariffs. His advisory committee includes sound economic advisers, and his first term demonstrated strategic targeting with focus more towards intermediate goods, protecting consumers. Trump is likely to adopt a more measured approach, as evidenced by his comments during an…

Most global and South African financial markets continued to recover for the second consecutive week after the lower-than-expected US core inflation rate (3.2%) was released the previous Wednesday. The Dow Jones industrial average increased by 3.0% last week and is 4.4% higher since the beginning of the year (year-to-date). The Standard & Poor’s 500 (S&P 500) index gained 2.9% last week, reaching a new record high, and recorded a year-to-date increase of 3.5% at the close on Friday. In a video speech to the World Economic Forum in Davos, Switzerland, last Thursday, US President Donald Trump emphasised that he would "demand that interest rates drop immediately". The president also indicated that he would put pressure on Saudi Arabia and the Organisation of the Petroleum Exporting Countries (OPEC) to reduce oil…

Ayo Technology Solutions (AYO) on Friday said it is considering taking legal action for defamation against a minority shareholder, holding just 0.13% of the company’s shares, who has lodged a winding-up application. “Shareholders are advised that AYO has received a notice of motion which has been lodged in the High Court of South Africa, Western Cape Division, Cape Town, from a minority shareholder with a shareholding of 0.13%, seeking to wind up AYO,” it said on the Stock Exchange News Service (SENS). In a statement, AYO, which is a black-owned ICT investment holding group, said, "AYO is considering legal action against the applicant for defamation and damages arising from this unwarranted attack on the company’s reputation.“ The notice of motion states that the applicant in question is Howard Lowenthal, who…

The South African Reserve Bank (SARB) said in a statement on Friday that the Prudential Authority (PA) had imposed a R13 million administrative sanctions penalty on the Standard Bank of South Africa Limited (SBSA) due to non-compliance with certain provisions of the FIC Act. SARB said that the Prudential Authority (PA) is mandated to supervise and enforce compliance by accountable institutions with the provisions of the Financial Intelligence Centre Act 38 of 2001 (FIC Act) or any order, determination or directive made in terms thereof. “The PA has imposed administrative sanctions on The Standard Bank of South Africa Limited (SBSA) as a result of its non-compliance with certain provisions of the FIC Act, following an inspection conducted on SBSA in terms of section 45B of the FIC Act in 2022.”…

IN a climate where financial confidence is on the rise, the essential nature of credit—be it personal loans, credit cards, or the increasingly popular “buy now, pay later” schemes—remains undisputed. Yet, this surge in demand is not without its pitfalls, as many consumers find themselves ensnared in a web of financial hardship, credit lead ombud at the National Financial Ombud Scheme (NFO), Howard Gabriels warned. As South Africa steps into the New Year, countless citizens are wrestling with the dual demons of financial distress and uncertainty regarding their rights. The complexities of credit agreements, coupled with a rise in over-indebtedness, make navigating this landscape a daunting task. Fortunately for those facing credit-related challenges, the NFO is armed and ready to assist consumers, ensuring fairness, transparency, and justice in these matters.…

IN a dramatic turn of events, the chairperson of the Portfolio Committee on Social Development, Bridget Masango, this week issued a clarion call for the SA Social Security Agency (Sassa) to reinstate its suspended Electronic Know Your Client (eKYC) system. This plea comes amid growing concerns as thousands of eligible beneficiaries are left unable to verify their identities, hindering their access to vital Social Relief of Distress (SRD) grants. Sassa’s decision to suspend the eKYC system was ostensibly aimed at combating fraud. However, as Masango noted, this decision has thwarted the very individuals it was intended to protect. “We appreciate the effort to combat fraud, but we strongly express concern about the suspended eKYC verification system that leaves thousands of eligible people unable to prove their eligibility,” she said. Reports…

Sunnyside was abuzz with activity on Friday night as law enforcement agencies launched a comprehensive anti-crime operation aimed at cracking down on illicit activities perpetrated by individuals and businesses flouting the City of Tshwane's by-laws. Led by City of Tshwane Mayor Nasiphi Moya, a night-time anti-crime operation was conducted from 6pm to midnight, yielding “huge results” as several non-compliant businesses were forced to shut down for violating municipal regulations. Several establishments, including a Chicken Licken outlet, were issued with fines for non-compliance with various regulations, such as inadequate fire protection measures. During the operation, law enforcement officials made a surprise raid on a tavern, ordering patrons to leave immediately due to the establishment's non-compliance with municipal by-laws and lack of a valid operating licence. In a separate incident, an undocumented…

THE firefighters at Mfuleni Fire and Rescue have been doing more than just putting out fires recently. They have also been hot stuff at delivering healthy babies into the world. Mfuleni firefighters set a record number of fire station deliveries with three deliveries since December. And what’s more, firefighter Lungiswa Maqubu delivered the fourth baby on her own yesterday. Kicking off the festive season, two of their staff members helped deliver a baby boy on December 1, 2024, and on December 12, another two firefighters at the station helped deliver a healthy baby girl. This past Friday, 17 January, an expectant mom arrived at Mfuleni Fire Station at 1h35pm. Her baby arrived 20 minutes later, with the assistance of firefighters on duty at the time. The mother and baby were…

Bafana Bafana captain Ronwen Williams says they’ll need to face their Afcon group stage opponents head-on, regardless of their stature on the continent. The 2025 Afcon draw for the finals in Morocco will take place in Rabat this evening ahead of the event later this year. And having climbed into the top 10 on the continental rankings after an impressive Afcon campaign in Ivory Coast in January last year, Bafana will be seeded in Pot 2. As such, they are expected to not only be one of the favourites who’ll exit the group, and reach the knockout stage, but to win the tournament as well. However, such is the improvement of the competitiveness of the biennial continental showpiece, there are no ‘smaller nations’ anymore as they all have upped the…

KAIZER CHIEFS (2) 4 Mmodi 18, 26, Miguel 62, Chivairo 83 FREE AGENTS 0 ‘Janu-worry’ is coming to an end this week, and but Kaizer Chiefs ensured that they ended the month on a high note yesterday by crushing Free Agents. The Amakhosi reached the Nedbank Cup last 16 after beating the ABC Motsepe side at FNB Stadium in Soweto; and while this result ensured they kept their hopes of ending their 10-year trophy drought alive, it will also serve as a morale booster heading into the Soweto derby on Saturday. Chiefs will likely be at full strength against Orlando Pirates, as they will not only have their regulars back but also head coach Nasreddine Nabi, who served his last suspension in this match. Meanwhile, Agents should take positives from…