Innholdsfortegnelse for 2024-01-15 i Star

INVESTORS have warned of a weak fiscal outlook in South Africa due to expenditure containment pressures, the ongoing financial support for Eskom and large transfers expected to keep Transnet afloat. This comes as Finance Minister Enoch Godongwana prepares to table his February 2024 Budget Review in Parliament amid a projected deficit of around R347 billion for the 2023/24 financial year, a substantial increase from the R247bn deficit in 2022/23. South Africa’s gross loan debt is projected at 74.7% of gross domestic product (GDP) for 2023/24, significantly up from 70.9% in 2022/23. Bank of America (BofA) on Friday said Budget 2024 was unlikely to offer much good news, but the fiscal outlook could finally turn the corner in 2026. The bank noted that the budget framework has R15bn in additional…

AFRICA’S biggest diesel and aviation fuel refinery built by the continent’s richest man has started production, the company said on Saturday, calling it a “big day for Nigeria”. The 650 000 barrel-per-day Dangote refinery could be a game changer when fully operational by helping end Nigeria’s reliance on fuel imports. The delayed megaproject built by Nigerian billionaire Aliko Dangote said it hoped the products would be on the market this month, but it was not clear when the refinery will reach full capacity production or start refining petrol. The facility sits on 2 635 hectares of land at the Lekki Free Zone on the edge of Lagos and cost an estimated $19 billion (R253.65bn), according to local media. “Dangote Petroleum Refinery has commenced production of diesel and…

RAND MERCHANT Bank (RMB) announced on Friday a strategic partnership with climate technology leader Koko, where it has acted as the lead mandated arranger and financier for a pioneering carbon financing solution, to further propel Koko’s climate objectives. It said in a statement, “In Africa, more than 900 million people cooked with polluting fuels like charcoal, directly driving millions of hectares of deforestation and over 600 000 deaths from household air pollution each year, and emitting greenhouse gases that are similar in scale to the global aviation industry. To solve this problem, a continent-wide energy transition to clean and modern fuels is required.” Koko was replacing demand for charcoal through supplying over 1.1 million homes with bioethanol cooking fuel distributed through a dense network of hi-tech Koko Fuel ATMs…

SA INC IS doing it for itself this year to the beat of American singer Aretha Franklin’s lyrics. This as it lightens the load of the government’s challenges to rebuild the economy. Yes, it is the same song that played on the company report JSE channel last year. The country faces the Herculean task in 2024 to generate growth amid a myriad international and local headwinds. In 2023, business in South Africa realised that the government was not coming to the party. They got emotional. CEOs spoke out in annual reports. So they decided to not only get to do it for themselves, but to engage the government and get a better outcome. The gory details of the millions and billions of rand lost due to load shedding and how…

The 2022 Fifa World Cup final was arguably one of the best football matches ever played since the inception of the globe’s most popular sport. The footballing gods overseeing the match between Argentina – who are always under immense pressure to win the tournament – and France – the then current World Cup holders – managed to include almost every criterion for this match to be recorded in the sporting history books. There’s Lionel Messi, arguably the best footballer to ever walk this planet, and who, at 35, is possibly playing his last ever World Cup match. The Argentinian legend has won it all during his breathtaking career, but it was the World Cup – the most prestigious of all trophies – that has always evaded him over the decades.…

Black First Land First (BLF) leader, Andile Mngxitama, has accused the ANC and President Cyril Ramaphosa of using his support for Palestine as an election tool. The BLF leader said Ramaphosa has still not apologised for the Marikana massacre and has never condemned the killing of black South Africans in Phoenix in 2021. This comes after Ramaphosa, who delivered his January 8 Statement on Saturday, said he is proud of the way the South African legal team presented its case against Israel at the International Court of Justice (ICJ) in The Hague. South Africa is challenging Israel for alleged genocide and human violations in Gaza where more than 22 000 people, mostly children and women, have died since the start of the war in October. In its 84-page submission to…

The EFF in Tshwane described the DA’s proposal for a deputy mayoral position as an unnecessary addition to the council which would serve no purpose other than squandering taxpayers’ money. The party’s regional secretary, Tshegofatso Mashabela, said the appointment lacked substantive value, saying it would only contribute to wasteful expenditure. “We firmly believe that this proposal is nothing more than a political manoeuvre aimed at appeasing their coalition partner, ActionSA. “We firmly reject this notion and emphasise our commitment to responsible governance. The EFF will not condescend to the frivolous idea of appointing a superfluous deputy mayor,” Mashabela said. This follows ActionSA’s announcement that it was set to name its nominee for the deputy mayor’s position. The announcement is expected to be made by the party’s national chairperson Michael Beaumont.…

A woman and a child have been killed in Zwelisha, north of Durban, after the home they lived in collapsed while they were both asleep on Saturday as the torrential downpours continued throughout KwaZulu-Natal. Police in KZN confirmed an inquest docket was opened after a 55-year-old woman and her 4-year-old grandson were found dead in the Zwelisha. “Police responded to reports of a structural collapse and upon arrival, it was discovered the wall had collapsed and fell on the two. “Heavy rains are suspected to have been the cause behind the collapsing of the wall,” KZN police spokesperson Colonel Robert Netshiunda said. KZN-based private security and emergency response company Reaction Unit SA (Rusa) were called to the scene of the collapsed wooden and iron home next to a river. It…

Around 20 short films made by ambitious, first-time filmmakers from within the marginalised Khoi and San communities in the Kalahari Desert will feature in the broader programme of this year’s third annual Kalahari Arts and Heritage Festival (KAHF). Taking place from January 24-27, for the first time, the event will be hosted in Philandersbron in the Northern Cape, one of the Khoi and San communities located on the margins of South Africa’s international borders with sisterly neighbouring countries Namibia and Botswana. Festival director, Helena Steenkamp said in the last two editions, the much-anticipated festival has conveyed untold stories of culture, customs of the Khoi and San people through song, dance, art exhibitions, film screenings and workshops. “We are thrilled that this festival is becoming a cultural benchmark for the Khoi…

While more than 70 000 beneficiaries are waiting to receive their January social grants from the South African Social Security Agency (Sassa), the agency has blamed the failure on yet another glitch – the alleged misinterpretation or failure to verify beneficiary banking details. In September last year, a glitch left hundreds of thousands of beneficiaries without payment for weeks, and the fears for many of the unpaid child support grant recipients are that they will receive their funds only in February, if at all. For many, the child support grant is their only income and Sassa’s payment failure places additional strain on them at the start of the school year, when they have to purchase school uniforms, shoes and other supplies, never mind ensuring that their children do not become…

Jake White was delighted with how the Bulls didn’t stop attacking after a frustrating first half, but was careful not to get carried away by Saturday’s 31-17 Champions Cup bonus-point victory over the Bristol Bears in England. The Pretoria side take on Bordeaux this Saturday at Loftus Versfeld (3pm kick-off) and are still not guaranteed of making the round of 16. They were third on the Pool 1 log on 10 points ahead of last night’s game between Bordeaux and Saracens in France, with the top four advancing to the next round. But considering their emphatic performance at Ashton Gate at the weekend, White will be confident that they will do enough in their last pool encounter to reach the play-offs. The South African outfit dominated in the scrums from…

An error-strewn Novak Djokovic kick-started his bid for an 11th Australian Open and unprecedented 25th Grand Slam crown in unconvincing fashion yesterday, dropping a set to “incredible” teenage qualifier Dino Prizmic. The Serbian superstar struggled to impose himself against the confident Croat on Rod Laver Arena before finally taming the 18-year-old 6-2 6-7 (5/7) 6-3 6-4 after a four-hour marathon. While far from his best, the world No 1 showed no sign of the right wrist problem that hampered his build-up. “Well, I started off very well for a 36-year-old guy. But, geez, when you think about it, I’m double his age,” Djokovic said. “Reality hit hard tonight,” he added, smiling. “But credit to him, he had an incredible game plan, he had an answer to everything. “I had some…

TONGAAT Hulett’s (THL) rescue from liquidation by the Vision Consortium was broadly welcomed by the sugar industry on Friday, but representative bodies still await the payment of industry levies owing to the South African Sugar Association (Sasa). The association, a regulatory body for the sugar industry, on Friday welcomed the creditors’ vote the day before in favour of the adoption of Vision’s business rescue plan for the region’s biggest sugar producer, thereby averting the liquidation of THL and paving the way for implementation of the plan. “We are pleased the process produced a positive result. All industry stakeholders, including the government, have been fully committed to saving THL since the start of the business rescue process. The sustainability of the industry remains one of our core priorities,” said Sasa independent…

MERAFE Resources’ attributable ferro- chrome production from the Glencore Merafe Chrome Venture was 75 000 tons in the fourth quarter to December 31, 2023, from 97 000 tons in the same period in 2022, Merafe said on Friday. This resulted in a decrease of about 22% in production for the year to that date, compared to the prior comparative period. The reduction in production was due to planned pull back resulting from market conditions. Only the Lion smelter operated over the three-month high electricity demand winter season, a period of elevated power prices, Merafe said in a quarterly report on Friday. For the year ended December 31, 2023, attributable ferrochrome production fell to 300 000 tons from 384 000 tons the year before.…

LESOTHO and South Africa are important neighbours. Fleeing refugees from apartheid knew Lesotho as home. It is part of the DNA of these two neighbours, despite ill-informed contemporary flaring of hostilities from time to time. I had the benefit of long-term accompaniment of the Titi family, who fled from apartheid South Africa and became my neighbours in 1981. This, ironically, before I had to flee Lesotho into South Africa in 1982 myself. One day, walking with Selemela towards a car parking lot, he made a very strange exclamation that is screwed into my DNA and has informed both my work and private life. Acting on instinct, he alerted me that we might have to flee, by asking: “What are these South African Special Branch policemen doing here?” I replied: “Tanqi…

Promises to root out corruption within the government will continue to ring hollow if President Cyril Ramaphosa refuses to take action on blatant criminal activity from the top down. These were the sentiments expressed by organisations left dismayed that no action was taken and no mention of the fate of Higher Education Minister Blade Nzimande following the ANC’s National Executive Committee (NEC) last week and Ramaphosa’s January 8 statement. Various organisations have called for the removal of Nzimande from the helm of higher education after damning evidence that Nzimande, alongside his party, the SACP, and National Student Financial Aid Scheme (NSFAS) board chairperson Ernest Khosa, had allegedly received kickbacks for tenders from NSFAS service providers. Ramaphosa distanced the party from those who were corrupt or committed serious crimes. “Corruption in…

FORMER ANC secretary-general Ace Magashule comments that there will be no “vote rigging” now that he will be contesting the upcoming elections under his own party, the African Congress for Transformation (ACT). The party has raised questions over the credibility of the Electoral Commission of South Africa (IEC). Magashule made the comments recently while on the election campaign trail in Pietermaritzburg, KwaZulu-Natal, where he urged supporters not to waste their votes on the ANC. While speaking to reporters, Magashule seemingly alluded to there having been a history of vote rigging. He said: “We are going to win elections, we’re very confident. There is not going to be any rigging of elections. Our eyes are open because we know, I’ve been part of the ANC, we know what’s going to happen.…

“There is nothing cool about hubbly bubbly. This devil’s product took away my only son last year.” These are the words of a Soweto mother who said her 24-year-old son died an early death due to the dangers associated with hubbly bubbly, also known as hookah pipe. “I just can’t stand seeing young children engaged in this devilish behaviour. I just break down and cry whenever I see our children smoking hubbly bubbly. If it was not for the pipe, my son would not have died such an early death,” she said. “He was vomiting and complained of chest pains and being unable to breathe. We took him to hospital, only for him to die three days later.” Cancer, lung damage, heart disease, TB, herpes and early death are…

IPSS Search and Rescue team members, who risk their lives to help find missing people after storm- and disaster- related events, say they are driven by the urge to provide closure to distraught families. The team, with other organisations, were instrumental in the recovery of more than 30 missing people after heavy rains led to flooding in parts of KwaZulu-Natal during the festive season. In another operation, two people were rescued when their vehicle was washed away in the uMngeni River in the KwaDabeka area. The Star’s sister paper, The Mercury reported earlier last week that the death toll in KwaZulu-Natal had risen to at least 40 following storms in December and early January, while about five people were still missing. IPSS search-and-rescue specialist Tereza van den Berg, 43, who…

The Stormers are almost certain of a place in the play-offs of the European Champions Cup after their bonus-point win over Sale Sharks on Saturday, but now they have to go finish the job in Paris this weekend. In their final competitive match until the middle of February, they must beat Stade Francais to be able to finish in the top two of the ‘group of death’ in the tournament. Despite not being at their best, the Stormers still produced a good display of their trademark running rugby to score four tries in the 31-24 victory over Sale. Winger Leolin Zas scored a brace, the second one in the second half, after some brilliant interplay between him and No 8 Hacjivah Dayimani that saw them run from their half,…

SO MUCH for Nigeria having arguably the most potent attack at this year’s Africa Cup of Nations finals taking place in the Ivory Coast! The Super Eagles began what most experts had predicted would be a successful campaign that would deliver a fourth title in disappointing fashion as they were held 1-1 by Equatorial Guinea yesterday. The discerning Afcon fan would not have been particularly surprised, though, given the Nzelang Nacional’s recent showing at the biennial continental showpiece where they are making a fourth successive appearance. Equatorial Guinea have pulled off some surprise results in recent years and the fact that their starting line-up showed just one change from the team that played at the previous tournament spoke volumes for their continuity. They even scored first via Iban Salvador during…

Aston Villa’s Premier League title challenge hit a roadblock as Alex Moreno’s strike was controversially disallowed by VAR in yesterday’s 0-0 draw against Everton. Unai Emery’s side would have moved level on points with leaders Liverpool if they had won at freezing Goodison Park. But the decision to rule out Moreno’s effort for offside forced Villa to settle for a point that leaves them in third place. The offside call means Villa have only one win from their last four league games as their unexpected title bid falters. They are two points behind Liverpool, having played a game more, and sit below second-placed Manchester City on goal difference. Emery was named Premier League manager of the month for December, but the Spaniard will hope Moreno’s disallowed goal isn’t a sign…

It could upset the country’s trade relations with Israel’s biggest ally, the US SOUTH Africa’s legal action against Israel for its military campaign in Gaza could upset the country’s trade relations with Israel’s biggest ally, the US, and further threaten the renewal of the African Growth Opportunity Act (Agoa). This was the warning by US foreign policy expert Professor Michael Walsh, a senior fellow in the Africa Program at the Foreign Policy Research Institute and a visiting scholar at the University of California, Berkeley, who spoke exclusively to Business Report on Friday. It comes as South Africa went to the International Court of Justice (ICJ) and brought a case against Israel of contravening the Genocide Convention by allegedly committing acts of genocide against Palestinians through its military action in Gaza.…

THE 54TH WORLD Economic Forum (WEF) gets under way at Davos, Switzerland, this coming week. In attendance will be more than 100 governments, major international organisations and enterprises, 1 000 of the Forum’s partners together with civil society leaders, experts, youth representatives, social entrepreneurs and the media. Also in attendance will be Sekunjalo’s and Independent Media’s chairperson Dr Iqbal Survé, a veteran of the annual big league think tank. Business Report sat with Dr Survé before his travels, to get his take on how he sees the 2024 gathering: “The theme for this year’s gathering, ‘Rebuilding Trust’, is a sad indictment of where the world finds itself, says Survé. The call for 2024 is for more transparency, consistency and accountability – noble intentions and quite necessary, but extremely…

IT WAS MAYA Angelou, an American memoirist, poet and civil rights activist, who said “the most important of all the virtues is courage because without courage, you cannot practice any other virtue consistently”. She said: “Having courage does not mean that we are unafraid. Having courage and showing courage mean we face our fears. We are able to say, ‘I have fallen, but I will get up’.” South Africa showed this courage on December 29 last year, when it took a stand against the State of Israel and instituted what is formally known as the South Africa versus Israel case at the International Court of Justice. The case alleges that Israel has committed and continues to commit geno- cide against Palestinians in the Gaza Strip, in violation of the Genocide…

SAPPI’S share price ended higher on Friday after it said it had concluded a consultation process at its Sappi Lanaken Mill in Europe and ceased paper production. Sappi Lanaken Mill is an integrated pulp and paper mill located in Belgium, which employed 581 workers. The move comes as the firm continues to execute its strategy to reduce its exposure to graphic paper. The share price rose 1.91% on Friday to end the day at R43.28. The paper firm had announced on October 10, 2023, the start of a consultation process on the possible closure of Sappi Lanaken Mill. “The persistent global economic downturn is proving to be much tougher than anticipated, with depressed markets, geopolitical instability and weak economic growth combining to put significant pressure on Sappi, particularly in…

International Emmy-nominated and four time South African television award-winning series Reyka is back for season two with a host of new characters and powerhouse performances. Detective Reyka Gama (Kim Engelbrecht of Dominion, The Flash) returns and has been seconded to the Durban Harbour police station where she’s building the profile of a killer who targets couples at a coastal lookout spot called Lover’s Lane. The assailant is a sinister enigma who finishes off his male victims in a cold and clinical fashion yet shows remorse – even protectiveness – towards female victims. Season two introduces a host of new faces, including Samkelo Ndlovu (Adulting) playing Detective Ayanda Jali, who becomes Reyka’s friend and confidant. This season also features Pallance Dladla (DAM) as Zee, a social justice vlogger and internet personality.…

The South African legal team who presented its case against Israel for the genocide in Gaza at the International Court of Justice (ICJ) returned to a heroes’ welcome at the OR Tambo International Airport in Johannesburg. The stellar legal team consisting of John Dugard, Max du Plessis, Adila Hassim and Tembeka Ngcukaitobi, among others, was led by Justice Minister Ronald Lamola in The Hague. South Africa went up against Israel at the World Court in The Netherlands, accusing that country of committing genocide and harbouring genocidal intent in Gaza. Israel rejected South Africa’s stance and argued that Hamas was the one committing genocide against it when it infiltrated the country and killed more than 1 200 people on October 7. They charged that genocide complaints against Israel were baseless. Yesterday,…

Black First Land First (BLF) leader Andile Mngxitama has confirmed that he might soon join forces with former ANC president Jacob Zuma as part of the uMkhonto weSizwe (MK) party. Yesterday, Mngxitama said his meet- ing with Zuma, moved to some time this week, will aim to finalise matters. His meeting with Zuma will see Mngxitama becoming yet another left-leaning ally joining the MK party following reports that Ace Magashule of the African Congress for Transformation (ACT) will also be collaborating with Zuma ahead of the elections. Posting a picture of himself alongside Zuma and other members of his party, Mngxitama said it is important for RET (Radical Economic Transformation) forces to join hands to take on the ANC. “The PAC leadership met with our father (Zuma). This is a…

IN THE heart of Orlando, Florida, in the US, from January 7 to 11, the vibrant spirit of Rotary took centre stage as the dynamic duo from Pretoria District 9400 represented their region at the prestigious Rotary International Assembly. District governor-elect George Senosha and assistant governor-elect Thabang Chiloane stood proudly as ambassadors, bringing the rich tapestry of Rotary in their corner of the world to the global forefront. District 9400 encompasses a vast territory spanning Botswana, eSwatini and the southern part of Mozambique. With a collective force of 63 clubs and 1 044 members, this district is a powerhouse of Rotary impact in a region with diverse challenges and opportunities. The International Assembly served as a melting pot for Rotary leaders, providing a platform for interaction among district governors-elect, their…

In a world where health-conscious choices are increasingly prioritised, the food industry has adeptly altered and continues to alter, its marketing strategies to capitalise on consumer trends. However, not all that glitters is gold, and a closer look at certain food products reveals a disturbing trend of misleading labels and deceptive advertising. One such example is the crispy cone chips labelled as “The Original Protein Chips”, its packaging adorned with images of honey and mustard seeds creating the illusion of a nutritious snack. But is it really what it claims to be? At first glance, it’s easy to think that you’ve stumbled upon a wholesome and protein-packed snack. However, scrutiny of the ingredient list at the back of the package paints a different picture. Contrary to the “protein chip”…

Despite a determined shift, the Lions were unable to stem a vigorous and constant assault from Montpellier on Saturday night in their EPCR Challenge Cup. Having travelled to the south of France with a squad full of fringe players, the Joburgers nevertheless accounted for themselves in the 13-3 loss. Indeed, despite the Rockroses controlling all aspects of possession and territory during the match, the Lions still managed to lead 3-0 at the half-time break, with the help of some desperate defending and timely interventions at the set pieces, mauls and breakdowns. Unfortunately, the visitors lacked the necessary cutting edge to take advantage of their limited chances, especially during a 15-minute period in the latter half of the first stanza, when they had won important psychological battles, creating frustration among Montpellier,…

African legend Samuel Eto’o is puzzled by the generally dismal performances of South Africa at the Africa Cup of Nations (Afcon) ahead of their 2024 debut against Mali tomorrow. “I am baffled as to why Bafana Bafana have constantly underperformed at the Cup of Nations,” he said during a visit to South Africa. “The South African league is well-organised and one of the best in Africa, so I do not understand why the national team is not that good. “Football officials need to sit down and plan how to take Bafana to another level and make it the best national team in Africa. “Given the strength of the national league, that is possible,” said Eto’o, a two-time Cup of Nations winner with Cameroon and the leading all-time scorer in the…

Tiny Gambia were one of the stories of the last Africa Cup of Nations as they reached the quarter-finals, but coach Tom Saintfiet admits repeating that feat this time could be beyond them. “Have we progressed? No, we have lost a lot of players,” the Belgian said as he prepared his side for an intriguing opening game at this year’s tournament today against Senegal, their neighbours and the defending champions. “Some of my starting players have abandoned football, while others have been without a club for a long time,” said Saintfiet, who has spent 18 of his 50 years coaching in Africa. He worked at club level in Ivory Coast and notably with Namibia and Zimbabwe before taking over the Scorpions in 2018. “Expectations are higher now, but the quality…