Innholdsfortegnelse for 2022-11-15 i Star

INVESTMENT group Brait yesterday finally announced the listing via private placement of its Southern Africa food, home and personal care goods subsidiary Premier, on December 8. The listing will be by way of an offer of shares held by Brait Mauritius, a subsidiary of Brait, which is expected to raise up to R3.7 billion. Brait first mooted plans to list Premier in July last year, but held off the listing due to poor market conditions. The share pricing range of R53.82 to R67.04 per offer share was proposed, which is expected to result in an equity valuation of R6.9bn to R8.6bn or a six to seven times earnings’ multiple, based on earnings for 12 months to September 30, Brait said in a statement yesterday. This represents a 10% to 28%…

Aviation analyst Phuthego Mojapele says it is clear the deal was a mess INDUSTRY experts said the “jumping of the sinking ship” yesterday of Syranix’s nominated director, Gidon Novick, from the Takatso Consortium deal for South African Airways (SAA) was a sign the transaction was in trouble. Despite Novick’s resignation yesterday, Takatso said in a statement it and Global Airways were still committed to the deal. “Takatso, (as funded and led by Harith General Partners Pty Ltd) continues to work closely with the team from the Department of Public Enterprises to conclude the acquisition of a controlling interest in SAA. Additionally, Takatso has developed a business plan for a sustainable and competitive SAA endorsed by international aviation experts,” it said yesterday. Takatso said Novick, as a director of airline Lift…

VODACOM’S share price dropped almost 6% yesterday after it said its net profit decreased due to financial market volatility and weaker prospects for the global economy. The shares’ price traded at an intraday low of R120.60 and has decreased by 11.6% in the past six months. In its interim results for the six months ended September 30, 2022, the mobile operator said its net profit dropped by 9% compared with last year to R8.1 billion. Vodacom also flagged operating profits were down 5.6% from R14.1bn to R13.3bn. Headline earnings per share declined 9.5%, impacted by start-up losses in Ethiopia and higher finance costs as interest rates normalised to pre-Covid levels. The group declared a gross interim dividend of R3.40 per ordinary share. Revenue was up 7.7% year-on-year to R53.7bn,…

The new Black Panther: Wakanda Forever soundtrack opens with its most powerful statement: a return to music by billionaire cosmetics entrepreneur and Grammy award winner, Rihanna. The 34-year-old has not released any music since her critically acclaimed 2016 album, Anti (Deluxe). Titled Lift Me Up, it’s a mellow and uplifting single that allows the songstress to showcase her breathtaking vocal range on the project’s intro. But the album truly jolts to life with the very next song, Love & Loyalty (Believe). South African artists Sino Msolo, Kamo Mphela, Young Stunna and Busiswa shine on the smooth bop produced by DBN Gogo and EltonK. Young Stunna in particular shines here as he brings his typical vibe and energy on the contagious hook. Later in the album, the same artists return for…

The Johannesburg Stock Exchange-listed IT company EOH is in hot water again as it has been ordered to repay over R178 million, plus interest, that it received irregularly from its dealings with the Department of Water and Sanitation (DWS) between 2012 and 2017. A joint statement by the SIU, the department and EOH stated that EOH has agreed to pay back R191 883 000, inclusive of interest, over a period of 36 months. According to the payment schedule, an upfront payment of R65 792 258.85 should be paid by no later than the 30th of this month by EOH, while the first instalment of R3.4m is to be paid on January 1, 2023 and thereafter on the first business day of each succeeding calendar month until the debt is fully…

Ingredients 8 sheets phyllo pastry Melted butter, for brushing 1 packet (200g) ricotta 80ml cream or milk Salt and milled pepper 1 cup (250ml) frozen peas 1 cup (250ml) frozen beans ½ cup (125ml) frozen broccoli florets 6 eggs Fresh basil and micro herbs, for serving Method Preheat the oven to 180°C. Layer one phyllo pastry sheet on a lined baking tray and brush with the melted butter. Repeat with the remaining phyllo sheets. Fold up the pastry edges to create a border. Combine the ricotta and cream or milk and spread over the base of the tart. Season. Defrost the frozen veggies in cold water and pat dry with kitchen paper. Scatter the veggies over the ricotta base. Bake for 10 minutes. Break the eggs on top of the…

A LEGAL team led by Lawyers for Human Rights and an Eastern Cape law firm has been established to assist the families and survivors of the Enyobeni Tavern tragedy in which 21 teenagers died in June. The legal team would, in conjunction with the families and other stakeholders, decide whether to initiate litigation to ensure that justice was done, said Professor Lulama Ntshingwa of the South African Council of Churches in the Eastern Cape. The legal team is working with the South African Human Rights Commission and the Southern African Alcohol Policy Alliance in SA on preparations for leading evidence on behalf of the families. According to the toxicology report, the results of which were delivered to the families in September, the victims died of suffocation due to overcrowding. The…

Parliament is considering whether Public Protector Busisiwe Mkhwebane is fit to hold office. It can find either way. However, there is a sense that she did not do herself any favours by the way in which she discharged her role. This is notwithstanding the many cases that she has been able to resolve but which, when compared with the major ones she has pursued and lost, pale into insignificance. For one thing, Mkhwebane terribly misconstrued her role as public protector. One could discern in her approach that she was out to prove that she was not her predecessor, Thuli Madonsela. She displayed an enthusiasm to move the Office of the Public Protector from being critical of the powers that be to an accommodating view of wayward politicians – for example,…

VICTOR Mpitsang has described Reeza Hendricks’ omission from the starting team for every game of the T20 World Cup as “unfortunate.” Hendricks, South Africa’s fourth highest run-scorer in T20 internationals this year, didn’t face a single ball in the recent World Cup tournament, with SA eliminated in the group stages following an embarrassing defeat to the Netherlands. “At the end of the day we had the captain that was there and we had to give him the best possible chance,” said convener of selectors Mpitsang. “It was unfortunate that Reeza didn’t play.” Hendricks had scored 323 runs in seven innings this year at an average of 46.14 and a strike rate of 139.82, picking up the man-of-the-series award in the Proteas’ series victory against the newly-crowned world champions England in…

SOUTH African stocks opened the week on a stronger footing over optimism about this week’s credit rating reviews, but the rand weakened on the back of a firmer US dollar. Investors are hopeful about the review of South Africa’s sovereign credit ratings by S&P Global and Moody’s agencies on Friday, after last month’s improved fiscal outlook. The JSE All Share Index surged to 73 258 points yesterday, its highest in seven months buoyed by retail and commodities-linked stocks, before declining below the 73 000 mark later in the afternoon. The market is expecting retail sales to grow on annual terms for the third month in September, as consumers return to shopping. Telecommunications groups Tel- kom and Vodacom led the losses with 6.3% and 6%, respectively. Vodacom had posted…

HUGE GROUP’S shares plummeted 18.5% after it announced the approval of the business combination of two of its directly and indirectly wholly owned investment companies, Huge Networks and Huge Telecom, yesterday. At 2pm on the announcement the shares fell to a day low of R2.20 from Friday’s R2.70 close, but the share later recovered and closed at R2.60 on the JSE. “The Business Combination is a part of Huge’s organic growth strategy, which will underpin significant growth over the medium and longer term, whilst immediately unlocking significant operational benefits and synergies. “The combined new entity will leverage the inherent strengths of both companies for growth,” it said. The newly enlarged entity would seek to aggressively grow its already substantial combined customer base of more than 19 000 businesses, and…

Thapelo Molomo, 29, from Pretoria is the winner of Idols SA, season 18. The SAPS psychologist won the hearts of Mzansi with the most votes this week after 22 million viewers cast their votes. Nozi Sibiya, 27, from Durban was the runner-up. Molomo dropped to his knees to pray when his name was announced by show host Proverb. The evening of the grand finale was filled with suspense and tension. The Heartfelt Arena in Tshwane was an electrifying array of colour and entertainment as the Idols judges also took to the stage to perform. This season’s top 10 contenders also took to the stage to do a special opening performance and the crowd went crazy as the award-winning rapper AKA performed. Also on the Idols finale stage was Costa Titch,…

African Transformation Movement (ATM) president Vuyolwethu Zungula has warned judges in the panel that is probing President Cyril Ramaphosa on the Phala Phala affair that they will be impeached if they try to protect the president because he appointed them to their positions. Zungula, who has earned accolades from the public for pushing the president to account on the matter, fired the warning shot during a public conversation that was hosted by Daily News editor Ayanda Mdluli at the Press Club South Africa yesterday. The panel, chaired by former Chief Justice Sandile Ngcobo, includes Judge Thokozile Masipa and advocate Mahlape Sello. It was given 30 days to investigate whether the president has a case to answer on the farm saga. While the panel wraps up its probe, Zungula cast doubt…

November 25 marks the start of 16 Days of Activism against gender-based violence (GBV), and this year, a new personal protection initiative for high school girls and young women at universities will be launched. Mobile power bank provider Adoozy Power has joined forces with Women INPowered and the Bear Foundation to equip young South African women with the tools to stay safe, whether walking to school, out with friends or even in their own homes. The partners said it involves free workshops that teach young women that they have choices if they find themselves in a threatening situation, and the workshops help the participants identify layers of safety to raise their awareness of potential threats. The campaign will start tomorrow with the first two-hour personal protection workshop at Itirele Zenzele…

BAFANA Bafana coach Hugo Broos continues to come up against a brick wall. Yesterday afternoon, Broos faced the media with mixed feelings at a press conference in White River, Mpumalanga. “I am here with mixed feelings because on the one side there is happiness and on the other side disappointment,” said Broos, who was speaking at the team’s base at the posh Ingwenyama Conference and Sports Resort. “The happiness is because, first of all, we are in a fantastic location here where we have our training sessions. Also, everything is very good here and everything is just one step away.” Moments later, however, Broos shared the news that many players selected for the camp are not available because of a painfully long injury list. “There is a disappointment because we…

MOBILE operator Telkom’s shares plunged nearly 10% after informed its shareholders yesterday that it expects that its profits might drop massively due to its mobile postpaid versus prepaid mix changing. In its trading statement for the six months ended September 30, 2022, Telkom said its headline earning per share and basic earnings per shares were expected to decrease by between 45% and 55% compared to the prior interim period ended September 30, 2021. The shares slid to an intraday low of R32.47 after the update, later ending 6.04% lower at R33.73 on the JSE yesterday. This was mainly due to Telkom’s mobile postpaid versus prepaid mix changing which had the impact of deferring revenue over 24 to 36 months, as well as the cost base increasing, it said. According…

SOUTH Africa is the most food-secure country in Africa, according to the latest Economist’s Global Food Security Index. While there were admirable results for food security at a national level in South Africa, there was still a need for massive improvement at the household level, agricultural Business Chamber chief economist Wandile Sihlobo said yesterday. This as the latest Economist’s Global Food Security Index, a measure of the food security conditions of surveyed countries relative to the world, ranked South Africa at 59 out of 113 countries, an improvement from the 70th position last year. This placed South Africa as the most food-secure country in the African continent, followed by Tunisia at 62nd. However, he said the agriculture sector could not solely shoulder the responsibility of household food insecurity since…

RETAILER Shoprite, in an operational update for the quarter ended September 2022, said yesterday its market share gains measured 1.4%, extending the period of uninterrupted market share gains in its core South African supermarket business to 43 months. Shoprite’s core Supermarkets RSA segment, including the Shoprite, Usave, Checkers, Checkers Hyper and LiquorShop brands, grew in sales by 19.9% for the first quarter – boosted by increased customer volume growth and higher average basket spend. SA’s largest grocer said selling prices rose by 8.2% compared to the previous year. Its furniture segment’s sales in- creased by 5.2% during the first quarter and remained mostly cash sales based, with credit sales participation measuring 14.9% of sales for the first quarter. Shoprite’s other operating segments, made up of OK Franchise, Transpharm and Medirite…

Nobuhle’s new offering is an experimental project where she played around with amapiano to tap into African soul music to create what can be described as spiritual amapiano. Indlela, a 10-track offering, features some of the country’s musical heavyweights such as Kabza De Small, Josiah De Disciple, Mpumi Mzobe and De Mthuda. The album is a beautiful blend of Zulu love peppered with gratitude to higher deities. “We are seeing spiritual people, beautiful song writers entering into the space of amapiano as well,” she said. Nobuhle is an Afropop house musician with a spiritual undertone. The singer uses her music as a form of healing. “I heal up within my craft, I create songs for the purpose of healing and self-empowerment,” she told IOL Entertainment. When it comes to her…

CITY of Joburg Speaker Colleen Makhubele has survived the first attempt of a motion of no confidence against her planned by ActionSA. The party was gunning for Makhubele after the South Gauteng High Court decision to restore Mpho Phalatse as Joburg mayor and finding her ousting illegal. ActionSA blamed Makhubele for placing the municipality in jeopardy and causing confusion among residents. However, its Gauteng leader Bongani Baloyi told the media that the rules committee had met yesterday and decided that the motion of no confidence was inadmissible. “The motion against the speaker has been rendered inadmissible (in terms) of rule 92(3),” Baloyi said. ActionSA chairperson Michael Beaumont, at the same press conference, announced the party would be pulling out of the Ekurhuleni coalition. “ActionSA has resolved we will not take…

NANCEFIELD Hostel dwellers are living in fear of more torrential rains and possible flooding after the weekend’s devastation which left at least 300 families destitute. One of the victims, Xolani Thusi, said his house was flooded after Friday’s heavy downpour which left his TV set and fridge badly damaged. He added that he does not know what will happen should the rains come back. City of Joburg Housing MMC Mlungisi Mabaso said residents were yet to be evacuated to the Nancefield Hall as they wanted to clean their homes before being relocated. He said should there be a need, the residents would be accommodated at the Dlamini multipurpose centre as the refurbishement of the Nancefield Hall was ongoing. Thusi said it was not the first time the hostel had been…

An 8-year-old boy was mauled to death by a pit bull at his home in Bloemfontein at the weekend. The dog belonged to the boy’s neighbour, police said. The boy had been playing in his yard in Vista Park when the dog allegedly jumped over the fence and attacked him. Police spokesperson Lieutenant-Colonel Thabo Covane said the dog escaped from its enclosure and got into the yard where the boy was. Covane said the child had been playing alone outside. He said the dog bit the boy on the neck and chest. “Police and paramedics were summoned to the scene, and the boy was declared dead at the scene,” Covane said. Police opened an inquest docket and the dog was put down. The Bloemfontein SPCA said the neighbour’s two…

Mzwethemba Dlutu, fondly known as Shakes, is determined to make a mark as a motivational speaker and facilitator with his youth development programmes that have assisted in creating change in the lives of many young people. With bullying incidents recently ending in suicides, Shakes has been at the forefront of challenging the scourge with his anti-bullying campaigns. The motivational speaker has held numerous morale-boosting programmes with several companies and has been a driving force behind touching on subjects that affect youth. Speaking to The Star, Shakes told of his mission to help with bullying and mental health issues and encourage people to tap into their best versions. “I’ve got the youth development solutions that include schools, universities and colleges, and basically what happens there is leadership camps for high schools…

ORLANDO Pirates’ chronically anaemic attack has been giving Spaniard Jose Riveiro sleepless nights and over the weekend, his misery was compounded after his team failed to score in two matches. It has been the story of his life since Riveiro was appointed coach of Pirates four months ago. The team’s lack of goals is appropriately reflected on the Premiership standings, which show Pirates is the only top-10 placed team that has scored less than 10 goals after 13 matches. Pirates’ fans would have been heartened by a recent report on the Cameroon football website kick442.com that the crack World Cup-bound Cameroon striker Marou Souaibou had signed a three-year deal with the Mayfair-based club. However, a few hours later, Souaibou’s Cameroon club Coton Sport Football Club shot down the report with…

SOUTH African cricket entered a new era yesterday with the launch of the SA20 League at the Wanderers. SA20 League Commissioner Graeme Smith promised that the new tournament will bring a “distinct flavour” to the stadium experience. “The momentum is building. We have worked closely with the franchise teams to develop competitive ticket pricing where the public can attend more than one match,” Smith said. “We invite lovers of cricket, those looking for a social day out with friends and families to all join us in January and February for a taste of SA20. “It is going to be memorable.” The SA20 will get underway on Tuesday, 10 January at Newlands Cricket Ground for a Western Cape derby, which sees MI Cape Town hosting Paarl Royals. The inaugural season of…

IT was on November 19, 2016 that Springbok rugby sank to its lowest point – a first-ever defeat to Italy – and numerologists will be having a field day with the fact that this Saturday the Boks play Italy on … November 19! So are the Boks doomed or does this co-incidence give them the perfect opportunity to avenge that day of shame? The reality is that the Boks are a far better team than they were six years ago but Italy are also vastly improved and are enjoying a renaissance under Kiwi coach Kieran Crowley. Just last week the Azzurri stunned Australia to confirm that their victory over Wales in Cardiff earlier this year was no fluke. The Italians had been going nowhere under former coach Franco Smith and…