Innholdsfortegnelse for 2023-12-04 i Star

PBT GROUP’S normalised headline earnings per share fell by 14.3% to 28.3 cents in the six months to September 30, but the overall business was sound and the dividend was lifted by 4%. However, PBT’s management had resolved to dispose of PBT Australia to its local management, effective September 30, this year, PBT management said in the results released on Friday. The group would continue to focus on growing its profitable international operations in Europe and the UK markets. During the past 18 months, PBT Group (Australia), a wholly-owned subsidiary, underperformed. As at March 31, 2023, it had contributed 5% to group revenue and reported an earnings before interest, tax, depreciation and amortisation (Ebitda) loss of R3.5 million. Despite the PBT Australia team focusing on aligning…

SIBANYE-Stillwater has reached an agreement with labour unions to limit job losses at its Kloof 4 Shaft operation, the company said on Friday, bringing relief to some of the 3 000 employees who were facing a bleak festive season. In September, Sibanye announced a restructuring, which at the time could lead to the laying off of as many as 3 000 mineworkers at the shaft, which was saddled with safety and viability challenges. On Friday, the company said it had concluded Section 189 consultations regarding the proposed restructuring of its SA gold operations. This restructuring was in light of losses being experienced at the Kloof 4 shaft. “Constructive consultations were held between the company and affected stakeholders over 78 days, during which various avoidance measures to mitigate possible…

WORKPLACES are social spaces regu- lated by company rules, but are a microcosm of a particular society. South Africa is a violent society against women and children. The latest crime statistics indicate that more than 3 children and 12 women were murdered daily in South Africa over a 90-day period between October and December 2022. Unfortunately this violence gets reflected at the workplace as well. Since the violence is entrenched it’s often difficult to know when one is being violated and act accordingly to protect oneself. A study by the International Labour Organisation found that more than one in five people in employment have experienced some form of violence and harassment at the workplace, whether physical, psychological or sexual. This is a high number, but what is more concerning is…

COP28 PRESIDENT Dr Sultan Al Jaber gaveled the first major milestone of COP28 late last week, delivering an agreement to operationalise a fund that will assist developing countries that are particularly vulnerable to the adverse effects of climate change, known in the negotiations as “loss and damage”. “The hard work of many people over many years has been delivered in Dubai. The speed at which the world came together to get this fund operationalised within one year since Parties agreed to it in Sharm El Sheikh is unprecedented,” Dr Jaber said in a statement. The fund was agreed upon during COP27, held in Sharm El Sheikh, Egypt, and became operational Friday following the agreement reached by parties during 5 transitional committee meetings. The 5th transitional meeting hosted earlier this month…

Reality TV personality Faith Nketsi recently announced on Instagram that she and her husband, Nzuzo Njilo, are in the process of getting a divorce. Despite being a prominent public figure, admired for showcasing her fashion and lifestyle in various ventures, Nketsi’s revelation shows that even the most celebrated stars encounter personal challenges. Having been married for nearly two years, the duo have decided to bring their union to an end. Nketsi took to Instagram to release an official statement, providing insight into their journey and the decision to part ways. In doing so, she opened a window into the struggles that celebrities, no matter how glamorous their public personas, often grapple with in their personal lives. “It is with great sadness that I have to announce that Nzuzo Njilo and…

Excited travellers have expressed their joy at the recent resumption of Passenger Rail Agency of SA (Prasa) long-stance train services. On Friday, Prasa announced that it has resumed its mainline services under its rail division after more than three years in the wilderness. The services were cut after widespread incidents of theft and vandalism of the train infrastructure, exacerbated by the Covid-19 pandemic, as well as reported operational problems. Travellers in Gauteng and Durban will now be able to enjoy a one-way trip at R170, while those travelling to Cape Town will be paying just over R430 for the 30-plus-hour trip. In a statement, Prasa said it was excited to bring the good tidings to South Africans, who have been struggling due to high transport costs associated with air…

The City of Tshwane has finally submitted its financial statements and other relevant documents to the Auditor-General (AG) after it failed to meet an August 31 deadline to do so. The City had asked for an extension to submit financial statements to the AG in a bid to avoid a repeat of the 2021/22 financial year when it incurred an adverse audit opinion. The AG report at the time found that the City had not correctly valued assets relating to electricity, roads, and stormwater infrastructure assets, as well as community, in accordance with the standards of generally recognised accounting practice, among other financial transgressions. Former chief financial officer, Umar Banda, was blamed for misrepresenting the City’s 2021/22 financial statements to the AG. He was subsequently fired and his court bid…

EFFORTS are under way to recover gains lost in HIV/Aids treatment due to the Covid-19 pandemic, when resources were instead prioritised on the coronavirus. During a debate in the National Assembly on Friday, World AIDS Day: Community response to overcome the spread of HIV and the impact of Aids interventions, Speaker Nosiviwe Mapisa-Nqakula, said South Africa witnessed first-hand the impact of HIV/Aids. She said improved relationships with grassroots organisations were needed to improve testing. “In South Africa, we have been faced with several challenges, including improvements in policy implementation, the capacity of our healthcare system, and ensuring universal access to care and treatment. “The Covid-19 global pandemic strained our healthcare systems and diverted attention and resources away from the fight against HIV/Aids, she said. “It is essential that we learn…

The land question continues to be a hot topic in the country. In the echelons of power, it is discussed whether to amend the Constitution. Giving constitutional expression to the matter would allow land expropriation without compensation. This essay will attempt to raise philosophical issues that must be taken into consideration when dealing with the land question of South Africa, as it is complex. Many scholars, past and present, have offered their intellectual prowess in trying to understand the issue. This short submission will seek to analyse the nuances involved in the discussion and proceed to make an argument that instead of the different perspectives used in understanding the land question, a more nuanced understanding should be applied. Though the different perspectives will not be explored in depth, it is…

Israeli forces bombed wide areas of the Gaza Strip yesterday, killing and wounding dozens of Palestinians, as civilians in the besieged territory sought shelter in an ever-shrinking area of the south. The Jabalia refugee camp in the north of the Hamas-ruled enclave was among the sites hit. A Gazan health ministry spokesperson said several people were killed by an Israeli air strike there. Footage obtained by Reuters of the aftermath of the strike showed a boy covered in grey dust, sitting weeping amid crumbled cement and rubble from collapsed buildings. “My father was martyred (killed),” he cried in a hoarse voice. A girl in a pink sweatshirt, also coated with dust, stood between piles of rubble saying: “No, no, no.” Bombardments from war planes and artillery also concentrated on the…

JAKARTA: Indonesia’s Marapi volcano in West Sumatra province erupted yesterday, spewing volcanic ash as high as 3 000m into the air, according to the country’s disaster management agency, BNPB. The 2 891m-high volcano erupted at 2.54pm and volcanic ash was dispersed at high intensity to nearby districts, authorities said. Pictures from BNPB showed cars and roads covered with ash. Authorities have barred people from carrying out any activities within 3km of the crater, and set the second-highest alert level for Marapi Mountain. Indonesia sits on the Pacific’s “Ring of Fire”. | Reuters…

THE AUTOMOTIVE Business Council (Naamsa) has warned of a serious economic downturn in the months ahead after new vehicle sales fell for the fourth month in a row due to logistical challenges and intensified power cuts. Naamsa on Friday said the challenges at the ports and across the entire freight rail network was impacting negatively on the vehicle production landscape and on new vehicle sales in South Africa. This comes as the vehicles market declined by 9.8% in November and recorded 45 075 registrations, compared to the 49 986 vehicle registrations recorded in the same month last year. This was the sixth month of declining sales this year, and the fourth consecutive month of negative growth. the new vehicle sales market, which is used as a measure to…

“Transport operators face a 2024 of uncertainty due to the global geopolitical upheaval, economic instability, the elections, rising fuel costs, a heightened risk of fatal incidents, and violent social unrest that usually first targets transporters,” Justin Manson, sales director of Bridgestone’s global fleet management solution, Webfleet, said at the weekend. He said South Africa’s elections were likely to be held in the dark in many places, as load shedding persists. “The intense conflicts in Eastern Europe and the Middle East provide a tense backdrop to the global struggle to control energy resources,” he said. According to Mordor Intelligence’s South Africa Freight and Logistics Market Analysis, the South Africa freight and logistics market size was estimated at $21.53 billion (R400.87bn) this year and was expected to reach $30.56bn by 2029…

AS HEADWINDS persist in South Africa’s economy, foodstuffs manufacturer Tiger Brands is reshaping its portfolio as it explores opportunities in categories with higher margin potential, dropping problematic product ranges and expanding its presence in the informal sector. Tiger Brands chief executive officer Tjaart Kruger on Friday said the JSE-listed company, which also has regional associates, was “reshaping to a desired portfolio” geared for the future. Shares in the company closed 1.32% weaker at R180.45 on Friday on the JSE. “We are looking to deliver some changes to our current portfolio, by exploring identified opportunities for entry in adjacent categories – where we see valuable synergies, a growing market, and/or higher margin potential – as well as exiting certain categories and product ranges that are no longer deemed future-fit,” he said.…

Let us remove the oft-quoted facade of South Africa being food secure. It is a lived-experience lie, albeit a statistical reality. Peeling off the cover of food security and piercing the reality of stunting among children takes us to the truth and the heart of the matter. South Africa is food secure, according to successive agriculture censuses carried out by Statistics SA, the 2017 census of commercial agriculture being the most recent. Yet despite this admirable food security record, South Africa’s children are stunted. The 2016 SA Demographic and Health Survey (SADHS) shows that 27% of South Africans under five-year-olds are stunted. This is a consequence of malnutrition. Wasting and underweight rates for children under five are substantially lower, at 2.5% and 5.9% respectively. As regards the question of a…

IS ESKOM giving us the full picture? Something seems off, and it’s time to delve into the details. On November 18, Eskom informed us about the resynchronisation of Koeberg Unit 1, promising a reduction in load shedding. Fair enough, but on November 29 at 1.53am, Stage 5 load shedding hit us, despite the recent return of Kusile Unit 2. Why the discrepancy? Eskom’s communication has taken a turn. Usually, they keep us posted on outages, but this time, it’s radio silence. Why the change, and what’s happening behind the scenes? Let’s revisit the Energy Recovery Action plan. Eskom and the government had plans to slash unplanned losses and cut load shedding by two stages. How’s that going? And with rooftop solar installations reportedly contributing around 3GW, why are we…

RAPPER Nadia Nakai has announced that she has been hard at work preparing a soul-stirring tribute album dedicated to her late rapper boyfriend, Kiernan “AKA” Forbes. She revealed at a recent luncheon at La Parada in Parkmore that she started recording from her home about a month after the Lemons (Lemonade) hitmaker died, but wanted to restart the process. “I am scratching all those songs and starting again because my emotions have evolved ... I know it’s probably important to keep a few of those songs, because of where I was and where I am now. I started a month after, I literally took the manta of what he would do to heal, and the first thing he did was go back, so I said that’s exactly what I’m going…

Charmaine Bila, 38, is set to appear in court on two murder charges and attempted murder stemming from allegations of hiring hitmen to kill for insurance claims. The accused was arrested on November 17, and appeared in the Stilfontein Magistrate’s Court on November 20 and has been in custody since. Police in North West said Bila’s arrest came after an incident on September 24, in which 26-year-old Sandy Maleshane and her 31-year-old partner were allegedly fired at while in a house at Khuma Location outside Stilfontein. It has been alleged that Maleshane’s boyfriend was shot and confronted while answering a knock at the door. Despite his successful escape and eventual hasty hospital admission for medical attention, his girlfriend was pronounced dead at the scene after being shot by two…

EFF LEADER Julius Malema has called for the establishment of a state-owned bank to compete with privately owned banks, especially after the rand manipulation scandal. He was addressing the party’s ground forces forum, aimed at volunteers and party members in preparation for next year’s elections, in Pietermaritzburg. Malema addressed the claims of manipulation of the rand as pressure mounts on the South African Reserve Bank (SARB) and the Treasury to communicate a clear message on the damage caused and repercussions for banks that were involved in the dollar-rand exchange scandal. Almost 30 commercial banks are under fire for alleged price-fixing involving the South African local currency. British multinational bank, Standard Chartered, was recently fined almost R42 million by the Competition Commission after it admitted to engaging in currency manipulation between…

THE Judicial Conduct Tribunal hearing into the conduct of suspended Gauteng High Court, Pretoria, Judge Nomonde Mngqibisa-Thusi was on Friday postponed to January to give her team a chance to obtain reports from two medical experts to be used in her defence. Judge Mngqibisa-Thusi is facing the tribunal after not delivering judgments on time. In her earlier representations before the Judicial Service Commission, she said she was battling with health and personal issues. Her legal team, Judge Gcina Malindi and former national director of public prosecutions Shaun Abrahams, said they needed a postponement as they still had to obtain reports from two medical practitioners whose evidence they wanted to present to the tribunal. The reports would then to be shared with evidence leader Adrian Mopp, who said he, too,…

Police and the National Prosecuting Authority have been sent on a wild goose chase on claims that missing German tourist, Nick Frischke, has been spotted in Plettenberg Bay. This came on the eve of the four men believed to be behind his disappearance and robbery, in February, now facing a consolidation of charges relating to this incident and cases involving other victims. The National Prosecuting Authority’s Eric Ntabazalila said the person who claimed they had seen Frischke alive said he was found speaking German and pleading for help. “Recently, we received a media query about a tourist who claimed to have seen a young man who looked like Nick Frischke in Plettenberg Bay. “Apparently the young man looked confused, according to the tourist, and repeatedly kept on saying in German,…

African countries like those on other continents such as Latin America and Asia have been the victims of brain drain of their highly skilled and educated sections of their populations by Europe, Canada, the US, Australia and New Zealand. The enticement of skilled Africans by Western countries through crafty promotions has been going on for decades, which effectively made African universities and training institutions a supplier of their insidious brain drain schemes and programmes. Many companies, universities and government agencies in Western countries do not seem to care about the massive damage and destruction they have been causing to the human capital reservoirs of mostly poor African countries: their only interest and strategy is snatching the bright, the highly-skilled, the well-educated and the well-qualified demographic sector of African countries. The…

MANILA: Philippine residents were allowed to return to their homes yesterday after a magnitude 7.4 earthquake struck the country’s south, killing at least one person, with disaster officials reporting minor damage to some infrastructure. The Saturday night quake shook parts of Surigao Del Sur and Davao Oriental provinces, triggering coastal evacuations and tsunami alerts in the country and in Japan. A woman was killed when a wall collapsed as she and her family were fleeing their home in search of safety in Tagum city in Davao del Norte province, officials said. | AFP…

MOSCOW: Russian forces hit a fortified commander post of Ukraine’s “East” air defence and alerting centre in the central city of Dnipro, the Russian defence ministry said yesterday. It said that it inflicted combined strikes by operational-tactical and army aviation, unmanned aerial vehicles, missile forces and artillery. Earlier yesterday, Ukraine’s air force said Russia launched 12 drones and a cruise missile at Ukraine overnight, with air defence systems destroying 10 drones before they reached their targets. Russia’s defence ministry also said that it hit fuel depots and manpower and equipment in 107 various districts. | Reuters…

MANUFACTURING activity in South Africa could remain depressed for longer after sentiment plunged to its 10th consecutive month of decline amid deteriorating business conditions. The Absa Purchasing Managers’ Index (PMI) rose to 48.2 points in November, up from 45.3 points in October, but still marking the 10th consecutive month of contraction in factory activity. This was the first increase following two months of a decline in the headline index, although the index failed to return to positive terrain above the 50-point mark which separates contraction from expansion. The PMI is an economic activity index based on a survey conducted by the Bureau for Economic Research (BER) and sponsored by Absa. The monthly surveys are conducted under a representative group of purchasing managers in the South African manufacturing sector.…

QUANTUM Foods spent R52 million more in diesel costs and R35m on generators as it tried to stave off the effects of load shedding, worsening an already dire full year to end-September in which it also had to write off R155m in biological assets. With load shedding persisting, Quantum Foods was weighing further investments into diesel generators and could move its production operations to manual processes. The company’s broiler, egg production and animal feed production is power-intensive. CEO Hendrik Lourens said the com- pany was now planning to institute mitigatory measures to the power supply crisis, including “securing diesel with enough storage capacity” and planning “to continue farming manually and using satellite connectivity” for communication. “Interrupted electricity supply has direct and indirect impacts on Quantum Foods’ operations. We delayed…

FINANCIAL markets locally and globally continued to recover strongly during November, and most had wiped out losses during the first ten months of the year. The sharp increase in interest rates by most central banks, the sharp increase in oil and food prices and the renewed military conflicts in the Ukraine and since last month in the Gaza strip, had led to a reminder of the black swan occurrences, notably the global sub-prime crisis and the effects of the Covid-19 pandemic. It was anticipated by many economists and market analysts that the US and other developed world economies would move into a recession, the second within three years. The downward movement in the oil price, as well as other energy and food prices over the last three months, however…

It’s been an eventful year for local acting sensation Thembinkosi Mthembu. He received rave reviews for his portrayal of King Dingiswayo in Mzansi Magic’s Shaka iLembe. The “Hunk of The Year” Feather Award winner has also had a lead role in Showmax’s Outlaws as well as playing the no-nonsense and conniving Mabutho Dimba in The River. But perhaps the main role in which the KwaZulu-Natal-born actor had viewers glued to their screens this year, was in the hit local production Adulting. In the 13-part drama series, which was the first Showmax Original from the award-winning production house Tshedza Pictures, Mthembu played Bonga. He was joined by another fan- favourite, Nhlanhla Kunene, who played Eric, Luthando BU Mthembu as Vuyani, and Thabo Rammusi as Mpho. Together, the group, who are all…

The appointment of Jason Quinn as the CEO-designate of Nedbank has resulted in the now routine chorus of dismay from the transformation sentinels whenever a black person is not appointed to a top position (Business Report, November 27). Black Management Forum president Sibongile Vilakazi claims that by appointing Quinn, Nedbank has pursued “ineffective succession planning” and that it has “missed an opportunity for victory for the transformation agenda’ (Business Report). As such, she clearly prioritises ideology above objectivity. Siyabonga Hadebe, a regular Mercury columnist, asserts that Quinn’s appointment “has sparked a heated debate” and that Nedbank has overlooked two highly eligible black candidates, Ciko Thomas and Mfundo Nkuhlu. For Hadebe, the appointment of a white man by the predominantly black Nedbank board, somehow “perpetuates inequality”. What neither of these transformation…

I AM notoriously tech-unfriendly and although I possess a “smart” phone (the word “own” strikes me as altogether too personal for such a sterile device), I am baffled and bewildered on the rare occasions that it rings. Indeed, things that a five-year old takes in its stride leave me flummoxed. It thus comes as no surprise that at every turn I am confronted with demands for seemingly vital information without which commerce will grind to a halt, with passwords being in particular demand. I recently purchased a new electric blanket to replace the old one which had gone to that great appliance graveyard in the sky, leaving me shivering during a particularly cold snap. My supplier then asked me to submit a product review, which I tried unsuccessfully to do,…

The Sharks rugby team suffered an embarrassing defeat to the Bulls in Pretoria at the weekend, in a confirmation that there are deep-rooted issues plaguing the coastal franchise. It is something that coach John Plumtree recognised when he returned to the Sharks in September for a second coaching term. The experienced New Zealander immediately told supporters that he doesn’t have a “magic wand”, and he made the appeal that he should not be regarded as a saviour because one person cannot be expected to remedy an ailing organisation. All at Hollywoodbets Kings Park – from the American owners, the CEO, the players, coaches and staff – have to be on the same page. Plumtree pointed out that the famous family culture and brotherhood that had made the Sharks into…

GOMA: Scores of Kenyan troops flew out of eastern Democratic Republic of Congo yesterday, marking the start of the withdrawal of a regional force after Kinshasa did not renew its mandate to help fight M23 rebels. Congolese President Felix Tshisekedi has repeatedly criticised the East African Community force since its deployment in Nov. 2022 for failing to enforce the withdrawal of the M23, a rebel group claiming to represent the interests of ethnic Tutsis. The presidency said it would not be renewing its mandate after an EAC summit in late November. A force from the Southern African Development Community is due to replace the EAC troops, but the date of its arrival has not been announced. | Reuters…

PARIS: About 190 migrants have been rescued off the Calais coast in northern France since Friday night while trying to cross the English Channel on dinghies to reach Britain, local French authorities said on Saturday, without specifying from where those migrants had come. The Channel is one of the world’s busiest shipping lanes and currents are strong. Human traffickers typically overload the dinghies, leaving them barely afloat and at the mercy of waves as they try to reach British shores. | Reuters…

Mexico-based Jermaine Seoposenwe will bolster Banyana Banyana for their match against Burkina Faso in today’s 2024 Women’s Africa Cup of Nations qualifier at the Lucas Moripe Stadium in Atteridgeville. The 94-cap international missed the second round, first leg match in Ivory Coast last week when the teams played to a 1-1 stalemate. The spearhead of the team’s attack would love to add to the 20 goals she has already scored for the national team. “I think we all know what Jermaine brings to the team,” said Banyana Banyana coach Desiree Ellis. “She brings energy, and she brings that (winning) mentality. That lifts everybody and that’s important. “We’ve got to be better (as a team). We’ve made mistakes and we must minimise those mistakes. “I think we are very disappointed with…