Innholdsfortegnelse for 2024-07-16 i Star

JSE-listed REIT, Redefine Properties, which has experienced water shortages of up to 10 days at time at some of its assets, believes further water challenges loom due to ailing infrastructure and lack of capacity at municipalities. This comes as Rand Water yesterday began maintenance on its Palmiet and Mapleton systems – scheduled to completed on July 29 – which was expected to result in water interruptions in Tshwane, Ekurhuleni, Govan Mbeki, Johannesburg, Lesedi, Madibeng, Mogale City, Merafong City, Rand West City, Rustenburg, Thembisile Hani, and Victor Khanye municipalities. Redefine, which owns about R70 billion of commercial, industrial and retail properties, mostly in South Africa, said yesterday that while its previous focus on water was to reduce consumption, it was now developing further storage capacity to provide a five-day buffer at…

The rand plunged more than 1.6% to R18.26 against the dollar yesterday, its lowest in 11 days as investors continued to bet on news that US presidential candidate Donald Trump would be the next president after the November elections following a botched assassination attempt, sending the greenback to briefly become a safe haven. The attempt on Trump being shot at by a registered Republican, allegedly 20-year-old Thomas Matthew Crooks who was immediately gunned down by the US Secret Service, dented investor appetite for risk assets and led to a slight dollar gain, with the rand strengthening since the end of April. However, Old Mutual Group chief economist Johann Els said any dollar strength would have been a “blip”. Els said that, with inflation in the US coming down and the…

The King Codes, the Companies Act and common law all set high standards for directors because of the huge influence directors have over the oversight and performance of an organisation – be it a private, public or non-profit entity. As the Zondo Commission’s report and a number of high-profile cases have shown, directors who do not do their jobs with due care and skill or who are wilfully dishonest or grossly negligent can severely damage a company, causing huge negative impacts on all its stakeholders not to mention the negative impact the maladministration of state-owned companies has had on the South African economy. South African Airways (SAA); Eskom; Steinhoff; and Tongaat Hulett are just some of the big names scarred by directorial misconduct. As King IV puts it, directors have…

There’s an AI race under way between technology companies. It started with AI software, however, now it’s about hardware. A major part of it is about which company will integrate artificial intelligence (AI) into its hardware products. It is for this reason that you’ve seen some launch AI smartphones, laptops and other hardware products. There’s even new companies developing special products for the AI-era, think AI Pin and Rabbit R1s. In 2024, Apple and Samsung entered the AI hardware race. So far, it seems Samsung is leading the race. Earlier this year, Samsung launched their AI phone, now the South Korean tech-giant has launched a suite of AI-powered products. Last week, Samsung launched its first AI-powered foldable phones, the Fold 6 and Flip 6. The AI functionality which stands out…

AS THE Financial Services Conduct Authority (FSCA) continues to chase billions from the estate of Steinhoff International fraud kingpin, the now deceased Markus Jooste, the legal system is making slow progress in prosecuting former Steinhoff director and legal head Stephanus Grobler. Grobler, out on bail of R150 000, is set to make his second appearance in the Pretoria Specialised Commercial Crimes Court on October 4, Hawks spokesperson Thandi Mbambo said. In March, Grobler was arrested and faced the court on charges of fraud, a pattern of racketeering activities and contravention of the Financial Markets Act against Steinhoff International Holdings. His bail conditions included reporting to the Brooklyn police station on Mondays and Fridays, handing over his two passports, and giving up his firearms. His co-accused and alleged king pin of…

MULTI-award-winning rapper Akon shared some interesting facts when he recently sat down with Podcast and Chill co-hosts MacG and Sol Phenduka in Los Angeles. Among other things, he spoke about working with the legendary Michael Jackson and growing up between Africa and America. MacG and Phenduka were in LA for the 2024 BET Awards ceremony and did a few international artist interviews for their podcast. The first to be released was their chat with the Smack That hitmaker. Speaking about the awards, Akon said: “I was very impressed with the production. I feel this is the best production I’ve seen BET have so far.” During a round of rapid-fire questions, Chillers learnt that Akon sees himself as “selfish” and “tunnel- visioned”. He also shared that the most famous person he…

Concedes EFF got donation but denies there was any wrongdoing in this transaction FORMER EFF chairperson, advocate Dali Mpofu, has conceded on national TV that his party had received a “donation” from the now collapsed VBS bank that left scores of poor people defrauded in 2018. This despite the party initially denying receiving any funds from the VBS bank in the scandal that has implicated EFF leader Julius Malema and his deputy Floyd Shivambu. Last week, the bank’s former chairperson Tshifhiwa Matodzi was handed a 15-year jail term by the Gauteng High Court, Pretoria, after he penned an explosive affidavit implicating politicians, political parties and business people – as a plea bargain. Matodzi pleaded guilty to 33 counts which include corruption, theft, fraud, money laundering, and a pattern of…

PHILLIP Truter, the first person to be sentenced for his role in the grand looting of VBS Mutual Bank, was released on parole in April, the Department of Correctional Services has revealed. Truter, who was the doomed bank’s chief financial officer, admitted that he was part of the group of people who were involved in the massive theft of VBS Mutual Bank funds. In 2020, Truter was sentenced to 10 years in prison, with three years suspended. Speaking to a broadcaster yesterday, Department of Correctional Services’ national spokesperson Singabakho Nxumalo said Truter was released in April. “Mr Truter was admitted after that conviction and he then started serving the sentence. “He was given a 10-year sentence with three years suspended for a period of five years, meaning that he…

Police in Ekurhuleni arrested a 46-year-old man, who is the owner of the house where a reported stolen vehicle, a Toyota Starlet, was parked. The small hatchback was recovered in the Tembisa area, according to Lieutenant Colonel Kelebogile Thepa, spokesperson for the Ekurhuleni Metro Police Department (EMPD). “Acting on a tip-off from a reliable source about a suspected stolen motor vehicle parked inside a yard on Brian Mazibuko Street, law enforcers responded. On arrival, the EMPD crime-fighting unit found a parked black Toyota Starlet, fitted with false number/registration plates and it was tested,” said Thepa. “Results came back and the officers learnt that the Starlet was recently reported stolen in the Meyerton area. “The house occupant, in possession of the suspicious vehicle’s car keys, was interviewed. Since he failed the…

POLITICAL violence in any democracy is reprehensible as the very system presupposes that people have an avenue to resolve their differences peacefully, But what is the responsibility of political leaders and society in general in fuelling this kind of atmosphere that finally leads to violence? This is exactly how the attack on former president Donald Trump should be considered. Although he does not explicitly call for violence, Trump’s rhetoric is a prime breeding ground for violence. Uniquely, in American history – when Trump was president for that matter and contesting his loss of the elections to Joe Biden in 2021 – he incited a mob of hooligans who violently stormed the Capitol in Washington DC, the very heart of American democracy. His campaign rhetoric is also shot through by hate…

Luxolo Adams’ Olympic dream could be shattered, unless Sports Minister Gayton McKenzie comes to his rescue. McKenzie has weighed in on TeamSA’s cruel decision to drop Adams from the Olympic team competing in Paris next month. Adams was initially named to represent the country. A devastated Adams took to social media to make public the decision to drop him. His statement read in part: “I want to address the recent development about my removal from the South African Olympic team. “This decision has been incredibly disheartening, especially considering the journey I have undertaken and the mental and physical challenges I have faced. I qualified for the Olympics on August 23 (last year).” There has been a huge outcry on social media and McKenzie has asked Athletics South Africa (ASA) for…

President Cyril Ramaphosa has called on South Africa’s global partners to accelerate honouring their commitments made towards helping the country’s drive toward the Just Energy Transition (JET), saying the mitigation and adaptation challenges faced were an uphill battle. Treading a thin line between exercising the country’s sovereignty to not abruptly stop the use of fossil fuels, Ramaphosa yesterday reiterated that South Africa would decarbonise at a pace and scale affordable to it or risk damaging a huge part of the economy without proper alternatives in energy and industrial capacity. Speaking at the 2024 National Treasury Climate Resilience Symposium, Ramaphosa said though there had been progress with the establishment of the Green Climate Fund, the Loss and Damage Fund, and other global mechanisms, there was need for a quicker indication of…

Don’t panic – AI isn’t coming for your job. What it is doing is delivering new opportunities, creating new jobs and making work simpler for millions of people. Like the quote from Joanna Maciejewska, about wanting AI to do the laundry and dishes so she could work on art, rather than having it create art and writing so she could do the housework, and which has been interpreted in many ways, the opportunity can work both ways. Taking the Gap You could work hard to understand how AI operates and get to the front of the Prompt Engineer queue, capitalising on an opportunity to be the person who is able to prompt AI to deliver a specific result, for example, an image, music, video or research, that a client needs.…

Southern Africa’s regional airline, Airlink is adding more frequencies to its direct Durban-Harare service to provide a daily return flight from August 7, 2024. Airlink yesterday said the additional flights will operate on Wednesdays, departing from Durban’s King Shaka International Airport at 10.30am and arriving at Harare’s Robert Mugabe International Airport at 12.40pm. The return service leaves Harare at 1.20pm and lands in Durban at 3.35pm. “We are going daily on the route in response to our customers’ positive reaction to the convenience and great value of our direct service on this route,” said Airlink CEO and managing director, Rodger Foster. “It is an appealing combination that promotes business, trade, tourism, and travel between the two key cities and enhances the economic competitiveness of the regions they support.” Airlink operates…

SASFIN, a bank and financial services group for entrepreneurs and high-net-worth individuals, has offered to buy out its minority shareholders at R30 per share – a 65% premium to the 30-day average price – as part of a proposed delisting of the group. The price of Sasfin’s thinly traded shares shot up 45.03% to R26.88 by yesterday afternoon, although the price was still some 16% shy of its R32 12-month high. The share price closed at R26.87. The offer for the group that has been listed since 1987 would be funded by major shareholders Wiphold, a women-owned investment company, and Unitas subscribing for shares in Sasfin Wealth. The Sasfin Wealth management team will also be buying into Sasfin Wealth as part of the envisaged transactions. Unitas Enterprises is owned by…

Hollywood is mourning the death of Shannen Doherty, the raven-haired actress best known for portraying an impulsive teenager on the TV drama Beverly Hills, 90210 and a flirty witch in the popular fantasy series Charmed. She died on Saturday in Malibu, California at 53, from cancer. Doherty announced in 2015 that she was being treated for breast cancer, which went into remission before returning around 2019 when she began to work on a six-episode 90210 reunion. She said in June 2023 that the cancer had spread to her brain and announced in November that it had spread to her bones. “I’m not done with living,” she told People magazine that month, as she prepared to launch a new podcast discussing her life and career. I’m not done with loving. I’m…

After being fraught with controversy a few days ahead of its eagerly-awaited premiere with attempts to halt its airing, the series Queen Modjadji took off on an impressive note on Sunday evening, leaving many wanting more. A legal spat raged, with an attempt to halt the airing of the series, the Balobedu royal nation claiming that this series had not been approved by them nor consented to by Her Majesty, Rain Queen Masalanabo Modjadji VI. Following an urgent application asking the Gauteng High Court, Pretoria, to halt Queen Modjadji’s broadcast, MultiChoice emerged successful, setting off an explosive Sunday night premiere. Makoma Mohale leads this historically inspired drama series, portraying Maselekwani (Queen Modjadji). Mohale, known for her role as Tlhogi in e.tv’s Scandal, is a professional model and a familiar face…

Gareth Southgate has transformed England’s fortunes at major tournaments but once again fell just short as a painful 2-1 defeat in the final of Euro 2024 extended a 58-year wait for glory. Prior to Southgate’s appointment eight years ago, the Three Lions had reached just three major tournament semi-finals and one final in their history, when they won the 1966 World Cup. In the past four tournaments, England have reached three semi-finals and two finals but were undone by familiar failings as Spain rounded off their sublime tournament with a fitting victory. Southgate had hailed a new “modern England” after they dominated possession to beat the Netherlands in the semi-finals. But they were reduced to chasing shadows by Spain’s metronomic midfield and cut open by wing wizards Lamine Yamal and…

There was a moment of euphoria after Carlos Alcaraz finished off Novak Djokovic to retain his Wimbledon title on Sunday, the usual pumped fists and group hugs with his entourage in the players’ box. But an hour or so later the Spaniard was already back down on planet earth, insisting his journey is only just beginning. “I’ve seen and I’ve heard all the statistics that I am the youngest to win at Roland Garros and Wimbledon the same year,” the 21-year-old told reporters after his 6-2 6-2 7-6 (7/4) demolition of 24-time Grand Slam champion Djokovic. “I honestly try not to think about it too much. Obviously, it’s a really great start of my career but I have to keep going. I have to keep building my path. “At the…

When the South African senior men’s hockey team gathers in Paris for the upcoming Olympics, it is clear who will be assuming the role of tour guide in the City of Lights. Team captain Keenan Horne will not only lead the team out on the park, but also off the field with the skipper being a resident of Paris. The 32-year-old plays for the Jean Bouin Hockey Club and also works as a paralegal at Mayer Brown’s office in the French capital. He can already feel the “massive buzz” that is building as the Games draw near. “Being here in Paris, the city where the Olympic Games is coming up, is a massive opportunity. It’s a massive privilege. Not a lot of people get the opportunity to play in the…

A buyout offer by founders in Bell Equipment at a 71% market premium elevated the heavy equipment company’s stock to a 45% surge on the JSE yesterday, cementing its stronger performance in the past year, although this will come with the de-listing of the company. The buyout offer, which comes at a value of about R5 billion for the company, will result in the Bell founding family expanding their interests in the group. The greater control of the company will enable them to pursue a de-listing of Bell Equipment from the JSE as a strategic repositioning. “Pursuant to the approval of a special resolution by eligible shareholders to approve the scheme and the waiver, application will be made by the company for the delisting of all of the shares from…

China’s economy grew much slower than expected in the second quarter as a protracted property downturn and job insecurity knocked the wind out of a fragile recovery, keeping alive expectations that Beijing would need to unleash even more stimulus. The world’s second-largest economy grew 4.7% in April to June, official data showed, its slowest since the first quarter of 2023 and missing a 5.1% forecast in a Reuters poll. It also slowed from the previous quarter’s 5.3% expansion. Of particular concern was the consumer sector, with retail sales growth grinding to an 18-month low as deflationary pressures forced businesses to slash prices on everything from cars to food to clothes. “Overall, the disappointing GDP data shows that the road to hitting the 5% growth target remains challenging,” said Lynn Song,…

Confidence in Durban’s business climate surged to a record high as it increased by 17.07 index points to 55.49 points in the second quarter of this year – up from 38.42 points in the first quarter. According to the BCI report compiled by the Macroeconomics Research Unit at the University of KwaZulu-Natal, this was the first time since its inception in the third quarter of 2022 that the index breached the 50-point mark, which signified a strong rebound in confidence in Durban’s business environment. The unit said while Durban’s BCI typically moved in the same direction as the national BCI, it was currently far above the national index compiled by the Bureau of Economic Research (BER). Overall, it said all sectors recorded improvements in business confidence, leading to a substantial…

Meet Claire Sibthorpe In a recent chat with Claire Sibthorpe, head of digital inclusion in the Mobile for Development (M4D) team at Groupe Speciale Mobile Association (GSMA), I gleaned insight into bridging what GSMA dubs “the mobile gender gap” in Sub-Saharan Africa. GSMA is a global organisation that represents the interests of mobile operators and the broader mobile industry worldwide. At GSMA, Sibthorpe leads programmes focused on accelerating digital inclusion for underserved societies in low and middle-income countries, not least women. Notably, she leads the Women in the Digital Economy Fund co-managed by GSMA, Cooperative for Assistance and Relief Everywhere, and the US Department of Defence’s General Defence Intelligence Programme. This fund seeks to identify, support, and scale evidence-based solutions to close the gender digital divide. A 25-year retrospective Reflecting…

Troubled retailer, Pick n Pay, is resetting its stores and renegotiating its leases to come up with fewer but better outlets that are expected to deliver value and profits post the retailer’s R4 billion rights offer. Pick n Pay is undertaking the rights offer, in addition to the unbundling and separate listing of Boxer, to raise capital to pay off its debts and invest further into its operations. The rights offer, underwritten by South African lenders Standard Bank, RMB and Absa, opens next week and closes at the beginning of next month. Apart from the capital raise, Pick n Pay is resetting its stores. The company yesterday said it was “engaging landlords on opportunities to redress store layout deficiencies, address critical repairs, and undertake maintenance work” which had been deferred.…

Police Minister Senzo Mchunu’s priorities sound impressive on paper, however, the effectiveness of these will be judged upon implementation as crime statistics remain high. This sentiment was expressed by an expert after Mchunu yesterday outlined the priorities for his ministry. The list includes training, investment in technology, cracking down on corruption, crime intelligence and legislative amendments. “Crime levels in the country are on the increase and are intolerable. We need to act decisively and bring this under control. The levels and type of crime differ from one province to the other. We need to take this into account as we implement the integrated National Crime Prevention Strategy,” Mchunu said. Leading crimes in the country were contact crimes such as murder and rape, as well as hijackings and kidnappings for ransom…

The EFF Students Command (EFFSC) has welcomed the termination of contracts held by four service providers – Coinvest, eZaga Holdings, Noracco Corporation, and Tenet Technology – who were irregularly appointed by the National Student Financial Aid Scheme (NSFAS) to disburse student allowances. This comes after NSFAS announced that for the remainder of the year, the payments would be made directly by universities and institutions of higher learning. In a statement dated July 11, the students financial scheme announced that it had withdrawn direct payments to the service providers and reverted to paying through institutions. “Following a meeting between Universities South Africa and NSFAS administrator Freeman Nomvalo, NSFAS has resolved that for the remainder of the 2024 academic year, university students’ allowances will be distributed through institutions (universities),” it said. “This…

SALDANHA Bay residents came out in their numbers as the suspects implicated in the disappearance of Joshlin Smith appeared in court again yesterday. The missing six-year-old’s mother Racquel “Kelly” Smith, Jacquen Appollis, Steveno van Rhyn and Lourentia Lombaard appeared in the Vredenburg Magistrate’s Court on charges of human trafficking for purposes of exploitation and kidnapping. They were arrested on March 5, weeks after the Grade 1 learner at Middelpos Primary vanished without a trace. Joshlin was left in the care of Appollis when she went missing on February 19. Smith appeared in court yesterday sporting a big baby bump. The case was postponed to September 16 for further investigation. National Prosecuting Authority (NPA) regional spokesperson Eric Ntabazalila said there was still evidence outstanding. “What is outstanding is the forensic report,…

Ingredients 800g lamb cutlets French trim 10g cumin seeds toasted 10g cumin powder 30g thyme 300ml olive oil 10g salt 10g pepper 10g garlic, crushed 60g mint 320g barley 80g fava beans, precooked 40g radish 40g carrots, sliced 40g cherry tomato 20g red onion 40g green peas precooked 20ml lemons 5g lemon zest 120g baby carrots peeled 80g parsnips, peeled batons 120g candy beetroots, peeled 10g micro herbs Method Lamb cutlets Marinate lamb cutlets with cumin seeds, cumin powder, thyme, olive oil, salt, pepper, garlic and mint. Vacuum seal for 20 minutes at 65°C. Allow to rest for 5 to 10 minutes. Remove from vacuum seal bag and pat dry. Season cutlets and grill, skin side down, till crispy, then finish off the sides till the cutlets reach the desired…

AmaZulu’s president has revealed that he aims to take full control of operations at the club ahead of the 2024/25 Dstv Premiership campaign. Sandile Zungu addressed the media under light-hearted conditions yesterday afternoon, outlining Usuthu’s plans for the coming season while also reflecting on the last campaign. AmaZulu have finished outside the top eight for two consecutive seasons and dealt with relegation worries on occasion. Zungu took over the KwaZulu- Natal-based outfit in 2020, and since then, the club has gone on to qualify for the CAF Champions League, as well as compete in a domestic cup final. However, Zungu pulled himself away from the forefront of the club and handed over the reins to his daughter Sinenjabulo Zungu, who led the outfit as chief executive officer. Although a pensive…

It’s time for the Springboks to become masters of the “dark arts” of rugby again. This past series against Ireland showed it, with the tactics the visitors employed, especially at the breakdown, almost completely throwing the Boks off their game in that department. Irish captain Caelan Doris was the chief destroyer of the South Africans in the tackle area and was magnificent in the way he was bordering on offside at almost every ruck. Sometimes he was standing next to the breakdown just waiting for the scrumhalf, whether it was Faf de Klerk or Grant Williams, to get on the ball and then he would try to stick a hand in there to trip them or to catch them off guard. This, in turn, prevented the Springboks from getting…