Innholdsfortegnelse for 2024-11-22 i Star

JSE-listed private education group ADvTECH Group has concluded agreements for the acquisition of established Ethiopian school group, Flipper International School, based in Addis Ababa, for $7.5 million (about R135m), in a bid to expand its footprint across the African continent. The Ethiopian acquisition adds five schools and 3 000 more students to ADvTECH Group’s international portfolio. Funding for the acquisition of Flipper International School was raised internally by the company. “We are delighted to welcome Flipper International School to the ADvTECH Group as we expand our presence across Africa and further cement our status as the leaders in teaching and learning on the continent,” said ADvTECH CEO Geoff Whyte. Well-known for its academic excellence, Flipper International School was founded in 1998 by Menna Selamu Bekele and Serkaddis Seifu Yeteshawork. In…

The South African Reserve Bank (SARB) has pointed to a more challenging external environment, particularly to the medium-term inflation outlook as it delivered a hawkish 25 basis points interest rate cut. This comes as annual headline consumer inflation fell below the lower end of the SARB’s 3%-6% target range in October, dipping to 2.8% largely driven by declining fuel and food prices. But what was not explicitly stated in the SARB’s statement was how the global macroeconomic environment has grown increasingly challenging following the election of Donald Trump back to the White House, which has strengthened the US dollar, raised concerns of rising inflation and created limited room for central banks to pause or ease rates. SARB Governor Lesetja Kganyago yesterday said the Monetary Policy Committee (MPC) unanimously decided to…

Local primary producers in the red meat sector are facing significant headwinds with the persistent drought brought on by El Niño, rising costs and ongoing animal health issues such as foot-and-mouth disease (FMD) contributing to the sector’s lacklustre performance this year. Roelie van Reenen, the supply CEO at Beefmaster Group, said constrained economic conditions and weak consumer demand have resulted in farmers struggling to get the prices needed to sustain their businesses. “Our food remains among the most affordable in the world. However, low economic growth, high unemployment, the rising cost of electricity, fuel expenses and inflation are placing immense financial strain on consumers,” Van Reenen said. This comes as data reveals that South Africa’s population growth has outpaced economic expansion over the past decade, compounding pressure on resources and…

Sean “Diddy” Combs is being accused of contacting witnesses from prison. The embattled rapper was arrested in September on charges of sex trafficking, racketeering and transportation to engage in prostitution. He has pleaded not guilty and has attempted to be released on bail several times, pending trial, even proposing a $50 million (R902m) bail package. Three federal judges have denied the music star bail. As the 55-year-old’s legal woes intensifies, E! News has reported that federal prosecutors say the rapper has made “relentless efforts to contact potential witnesses”. In a motion filed a week ago, the US authorities said they believed that Diddy was contacting witnesses. The prosecutors said the musician’s alleged actions violated the Bureau of Prisons’s regulations and “corruptly influenced witness testimony”. They said he used the third-party…

Samuel L. Jackson helms a star-studded cast in The Piano Lesson which marks Denzel Washington’s son Malcolm Washington’s directorial debut. The Netflix musical drama will premiere on the streaming service today, as well as in selected cinemas worldwide. It will also feature Denzel’s other son, John David Washington, as well as Grammy Award-winning singer and songwriter Erykah Badu, who makes a musical cameo. The rest of the illustrious cast includes Ray Fisher who featured on Justice League, Straight Outta Compton star Corey Hawkins, Danielle Deadwyler from The Harder They Fall and Michael Potts who starred in Rustin. The movie is based on the Pulitzer Prize-winning play by August Wilson and much of the cast, including Jackson and John, also starred in the recent Broadway adaptation. Denzel has a deep connection…

Although yesterday’s interest rate cut by the South African Reserve Bank (SARB) bodes well for homeowners and could encourage first-time buyers, it fell short of expectations and did not decrease monthly repayments substantially, leaving more to be done to kick-start the economy. Taking a conservative stance, the SARB’s monetary policy committee unanimously decided to cut interest rates by 25 basis points (bps) from 8.0% to 7.75%, taking the prime lending rate from 11.50% to 11.25%, a level last seen in April. This is the second cut in a row, although below economists’ hopes that it would be trimmed by 50bps. SARB Governor Lesetja Kganyago said the risks to the inflation outlook appeared to be balanced as it was contained in the near-term. “However, the medium-term outlook is highly uncertain,…

TSHWANE Mayor Nasiphi Moya has declared that spaza shops in the metro will be reserved for local owners, as part of a new registration initiative aimed at enhancing community safety and compliance. This decision comes as the city begins registering spaza shops this week – a process led by MMC for Economic Development and Spatial Planning, Sarah Mabotsa. Moya this week posted on X: “Tshwane, we will be announcing the registration process for spaza shops in the next few days. Here in Tshwane, spazas are strictly for locals.” Mabotsa, on the other hand, said foreign nationals running spaza shops will need to furnish the municipality with a proof of a R5 million investment as part of the outlined criteria for doing businesses in the country. Mabotsa made a call for…

The Consulate General of India in Johannesburg, in collaboration with WITS Business School, is hosting a Matla-Urja Energy Conference in Johannesburg on November 28, in which several Indian and South African energy-related companies will be participating. This presents a good opportunity to review India’s progress in various sectors related to energy in the last 10 years. There has been huge progress in India’s energy scenario in this period, with all three pillars of energy security, ie affordability, accessibility, and availability, being addressed in a very effective manner. As a result, India’s GDP has grown rapidly, making it the fifth-largest economy in the world and the fastest-growing large economy. The power sector has been at the forefront of this energy transformation. The total installed capacity of power was 2 48 554MW…

Elvis Chipezeze has been here before. As such, he’s showing great control over his expectations that he knows that they must enjoy the moment and do their best. Magesi will face Mamelodi Sundowns in the Carling Knockout Cup final at the Free State Stadium in Bloemfontein tomorrow (6pm kick-off). Chipezeze is set to be in goal for the top-flight newbies, having played a key role en route to their first cup final at their first attempt, after winning three Player-of-the-Match awards in a row. But while these are uncharted grounds for Dikwena, they are not for Chipezeze. He played in the final of the same competition against Orlando Pirates in 2018. In that competition – when it was still known as the Telkom Knockout – the Zimbabwean international played a…

Mr Price Group’s share led a rally in many retail sector stocks on the JSE yesterday, surging 7.1% to R292.30 per share just a week before Black Friday and on the day of another interest rate cut, after the value clothing and homeware group said there were signs that South Africa was finally entering an upward economic cycle. “The increasing sales momentum in the second quarter and the strong start in the second half, with sales up 12.4% in the first seven weeks, is encouraging,” CEO Mark Blair said in a statement. Consumer spending behaviour has been crimped in recent times by high interest rates, inflation, unemployment and low household income. The first two weeks of November started strongly with sales increasing 14.7%. All trading segments delivered double-digit growth in…

South Africa’s automotive sector stakeholders were abuzz following President Cyril Ramaphosa’s recent announcement of some major upcoming changes to government’s industrial policies. A series of incentives appear to be on the cards to support new energy vehicle (NEV) technologies – such as battery electric vehicles (BEV) and hybrid electric vehicles (HEV). Speaking at Naamsa SA Auto Week 2024 conference in Cape Town, the president introduced the idea of a series of tax rebates or subsidies for consumers to accelerate the adoption of such vehicles in SA, stating this could help ensure the country’s relevance in the global automotive supply chain – especially if local manufacturers take up the opportunity to invest in this major industrialisation opportunity for the region. The momentum for NEVs is building, driven by the lower fuel…

SAA said it posted a net profit of R252 million. The interim board of the airline presented the results for the 2022/23 financial year at the annual general Meeting (AGM) held at Airways Park at the OR Tambo International Airport Precinct, attended by the shareholder representative, Transport Minister Barbara Creecy yesterday. The state-owned airline said its total revenue increased by 185%, from R2 billion the prior year, to R5.7bn. The 2022/23 financial year is the first fiscal period of commercial operations since SAA exited business rescue and restarted operations in September 2021. SAA said operations turned the prior year’s negative earnings before interest, taxes, depreciation, and amortisation of R1bn into a positive R277m. “This positive 2022/23 performance is particularly notable given the challenging global aviation environment at the time and…

Group risk cover is an employee benefit provided by employers, typically including life and disability cover. Due to risk pooling, economies of scale, and group underwriting, these policies are generally more affordable and advantageous, particularly for employees with pre-existing conditions that might limit individual coverage. Confusion often arises around the terms “approved” and “unapproved” cover. Despite misconceptions, “unapproved” cover is not negative; the distinction lies in how premiums and benefits are taxed and paid out. Understanding these differences is important for employees to fully appreciate the benefits of group risk cover within their employment package. Approved group life cover is offered through a tax-approved pension or provident fund, meaning the employer’s retirement fund is registered with the Financial Sector Conduct Authority and approved by the Sars Commissioner. In this case,…

The International Finance Corporation (IFC) has been signed on as lead arranger for the Kalumbila-Kolwezi 700MW interconnector being developed by Enterprise Power DRC (Enpower) and powering the Democratic Republic of Congo from the Southern African Power Pool via Zambia. Enpower yesterday announced the signing of a lead arranger mandate with the IFC yesterday. Being developed as a 330kV interconnector, the new line will have a thermal capacity of 700MW. It will “help alleviate the significant power shortfall” in southern DRC. The Zambia/DRC interconnector comes at a time when other regional countries such as Zimbabwe and Zambia are also facing crippling electricity supply constraints, although South Africa has boosted its power generating capacity and ended load shedding. Enpower and the IFC signed a collaboration agreement in June 2022 to assess the…

TYLA is set to appear on American singer Sabrina Carpenter’s upcoming star-studded Christmas special, which will premiere on Netflix on December 6. A Nonsense Christmas promises to enchant viewers with music, comedy and lively cameos. The streamer recently said it would showcase the pop icon’s top hits from her holiday EP, Fruitcake, as well as other chart-topping holiday covers. The special will also feature duets with musicians such as Kali Uchis, Chappell Roan and Shania Twain. And with Tyla set to make a cameo, it’s safe to say that the feature, along with her latest single, Tears, in collaboration with Coke Studio and her upcoming December tour in South Africa, marks the perfect ending to the incredible year she has been having. The 22-year-old Grammy Award- winning superstar has been…

ELLEN DeGeneres and her wife, Portia de Rossi, have decided to leave the US and settle in England. The couple were reportedly “very disillusioned” with President-elect Donald Trump’s victory and have decided “to get the hell out” of the US. The couple, who were married in 2008, plan to sell their house in Montecito, California and settle in a new home in the Cotswolds region in South West England, about two hours from London. DeGeneres was among the high-profile donors for Vice-President Kamala Harris, endorsing her on social media after she was nominated to replace President Joe Biden in July. She had interviewed Harris in April, before she was nominated, where she faced backlash from followers, including comments such as “the most unqualified candidate in the history of elections”, “her…

NGOs demand NGOs, led by the Integrity Network and Abahlali Basemjondolo, forcefully entered the offices of the Department of Public Works in Pretoria yesterday to demand the suspension of all tenders and contracts linked to SKG Africa and its owner, Jean du Plessis, pending an investigation. The protest follows serious complaints from various individuals, including MK Party’s Andile Mngxitama, who accused Du Plessis of corrupting the department through questionable contracts that have disproportionately benefited his company. Mngxitama alleged that Du Plessis has been using smaller black companies as fronts in his multimillion-rand empire. A startling revelation came from private investigator Chris Stalts, who disclosed that evidence exists of Du Plessis’ clandestine connections to departmental officials, suggesting that these officials are actively covering up for him. Du Plessis is accused of…

In the pulsating world of South African hip-hop, Maglera Doe Boy, real name Tokelo Moyakhe, is steadily forging his path as a celebrated figure, synonymous with talent and ambition. As he navigates the terrain of the music industry, he is not only making an impact with his music but also securing his place as a key player in the realm of brand recognition. Currently riding a wave of success, Maglera Doe Boy speaks about his journey after being announced as a friend of the house for Hennessy, the world’s premier cognac brand. The beloved hip-hop star was beside himself with excitement during a recent behind-the-scenes shoot at Zoo Lake, where he animatedly shared details about it. Speaking about the major highlights in his career journey which has been on an…

Will the whiny socialist kids please stop throwing tantrums about a global system that’s functioning just fine, thank you? That’s the gist of Kevin Bloom’s article in the Daily Maverick, where he dismisses the critiques of the upcoming World Movement for Democracy conference as nothing more than a fit of “incandescent rage”. His piece, “Global Democracy Conference in SA Dodges Trump Bullet Fired by an Irate Zwelinzima Vavi”, seems to imply that criticism of the US-state-sponsored event – which is, let’s remember, designed to further the national interests of the US and its corporate backers – should be swept aside. After all, who needs pesky questions about the role of NGOs in a system built on corporate exploitation and genocide? Bloom’s evidence for his argument is embarrassingly weak and doesn’t…

SLOW left-arm orthodox Tsepo Ndwandwa spun the Titans to a 118-run victory over the Knights in their Four-Day Series clash in Centurion yesterday. Playing in only his third first-class match for the Titans, Ndwandwa delivered an impressive five-wicket haul in the first innings, his seventh of his career and his second successive five-for, having returned 5/124 against the Dolphins at Kingsmead last week. The 29-year-old returned sparkling figures of 5/33 in 15 overs in the first innings in Centurion and followed it up with 3/36 in 14 overs in the second innings to help register a second consecutive victory for the Titans inside three days. Having crossed the Jukskei River from the Lions at the Wanderers to SuperSport Park this season in search of game-time, Ndwandwa has gotten precisely what…

The National Agricultural Marketing Council (Namc) yesterday said that foodborne diseases were a serious public health threat, impacting the economy, society, and health, both locally and globally. This comes after the National Disaster Management Centre yesterday classified the recent uptick in foodborne illnesses across the country as a national disaster, in terms of Section 23 of the Disaster Management Act 57 of 2002. Dr Moses Lubinga, Namc manager for agro-processing, said that every year foodborne illnesses, such as food poisoning, cause illness in a large percentage of the global population. “In South Africa, concerns over foodborne diseases have led to significant actions, with the National Disaster Management Centre recently classifying the rise in foodborne illnesses as a national disaster under Section 23 of the Disaster Management Act 57 of 2002,”…

Transnet National Ports Authority (TNPA) has achieved a major milestone in its journey with the on-time and seamless berthing of the Höegh Aurora at the Port of Durban. This event marks the maiden voyage of the world’s largest car carrier and signals a pivotal moment for both Transnet and the maritime industry. The seamless berthing of the Höegh Aurora demonstrates Durban’s capacity to handle the world’s largest and most advanced vessels, reaffirming its status as a premier gateway for maritime trade. This operational highlight was made possible by the port’s newly injected marine fleet of state-of-the-art tugs, showcasing TNPA’s commitment in enabling volume recovery and operational efficiency. The Höegh Aurora, a next-generation vessel known for its advanced green energy solutions, signifies a new era in sustainable shipping. The vessel is…

Southern Sun bumped up its overall occupancy for September to 68.2% as demand from the local and international corporate and leisure travel sector increased, propped up by softening inflation and falling interest rates, as well as South Africa’s simplification of requirements for visitors from China and India. The JSE-listed hotels, gaming and leisure group views the improving hotel occupancy as encouraging and a reflection of “increasing demand by both international and domestic corporate group and transient as well as leisure” travellers. “The softening of inflation as well as further interest rate cuts along with the suspension of load shedding are tailwinds that signal stronger economic growth in South Africa in the medium term,” said the company. This came as Southern Sun yesterday reported a jump in income and earnings for…

Lewis Group furniture businesses generated a very strong 49.1% rise in headline earnings a share for the six months to September 30 after demand for credit, exclusive merchandise offerings, and improving consumer confidence drove sales. The board’s confidence in the group’s prospects, despite the current generally weak consumer environment, was reflected by the 50% increase in the interim dividend to 300 cents a share. Its share price slipped to R79.46 yesterday afternoon on the JSE, but shareholder optimism about group prospects is also reflected in the fact that the share price has more than doubled from R39 per share 12 months ago. The group has returned R1.3 billion to shareholders since the start of its buy-back programme in 2017, repurchasing 36.7 million shares at an average price of R35.96 per…

AUSTRALIAN comedian Jim Jefferies is set to tickle the funny bone in Pretoria tomorrow during his Give ‘Em What They Want Tour. “This Sydney native is one of the most popular and respected comedians of his generation, entertaining audiences across the globe with his provocative, belief-challenging and thought-provoking comedy,” a statement read. He performed at the Mother City’s Grand Arena in GrandWest on Thursday, before heading to Gauteng. “This tour started at the end of 2022, with dates all around Asia, Europe and North America and, now, South Africans have an opportunity to see him bring the house down, live in their backyard,” it added. The Australian comedian and TV personality, who is acclaimed for his sharp political satire commentary, his free-wheeling use of profanity and his provocative comedy,…

Yellow butter, with its rich, creamy texture and golden hue, has long been a staple in many kitchens. The allure of yellow butter lies not just in its taste but also in its versatility. From spreading it on warm, freshly baked bread to using it as a base for sautéing vegetables or creating silky sauces, butter brings a richness that is hard to replicate. However, with increasing awareness about health and wellness, many people are seeking alternatives that keep the taste while cutting back on salt, calories and saturated fats. If you’re looking to make a switch without sacrificing flavour, here are some nutritious substitutes that can enhance your meals and support a healthier lifestyle. Olive oil Olive oil is a healthy substitute for salty yellow butter, offering a rich,…

Ikapa Express Auctioneers will be hosting a Sars Customs Online Auction starting on December 9 at 8am and ending on December 10, from 11.30am. The auction will feature vehicles and more from Pretoria, Johannesburg, the Groblersbridge Border, the Lebombo Border, Mafikeng and Beitbridge. Items going under the hammer will include: Cars Bakkies Trucks and trailers Copper Scrap Viewing is on Wednesday and Thursday next week, as well as December 2, 4 and 5, from 9am to 3pm. For more information, please contact Johan Kotze at 082 854 4685 or visit https://www.ikapaonlineauctions.co.za/ |…

After a man died while waiting in line to upgrade his prepaid meter, and amid rising frustration among residents, Electricity and Energy Minister Kgosientsho Ramokgopa visited the Orlando East Communal Hall, Sports and Recreation Centre in Orlando East, Soweto, to monitor the upgrade process and engage with locals. Residents told IOL the man died outside the centre yesterday morning, while waiting to be assisted along with over 500 others who were queuing. Queueing residents said they witnessed the man collapse to his death and said his body had been removed by authorities yesterday. Orlando residents reported that they had been queuing at the centre since 4am, with some claiming to have slept outside to get service. As Ramokgopa entered the centre, concerned residents complained to him about the slow pace…

rAge 2024 is set to captivate visitors with an exciting mix of activities – from robot battles to professional gaming discussions, even a robotic dog. The expo takes place from November 29 to December 1 at the Johannesburg Expo Centre, Nasrec. For the first time, visitors to rAge can experience the adrenaline-pumping action of a live robot combat tournament, hosted by the South African Robotics League (SARL). Danica Peacock, co-founder of SARL, shares: “Top contenders will face off in battles on November 30 to crown the champion of non-destructive combat robots. Matches run from 10am to 4pm, and visitors can also catch hourly demos showcasing the robots in action on Friday and Sunday.” Adding to the robotics spectacle, visitors will have the rare chance to meet SPOT, a cutting-edge, sophisticated,…

World Sugar Awareness Week commenced on Monday, and health experts in South Africa have raised the alarm over soaring sugar consumption levels that far exceed the World Health Organization’s recommended limits. With South Africans reported to be consuming between 12 and 24 teaspoons of sugar daily, the risks to public health are alarming, particularly as the nation grapples with a rising tide of non-communicable diseases. Nicole Jennings, spokesperson for Pharma Dynamics and an advocate for healthy living, joined Prof Pamela Naidoo, CEO of the Heart and Stroke Foundation South Africa (HSFSA), in calling for heightened awareness of the negative health impacts of excessive sugar intake. “The country faces an epidemic of non-communicable diseases such as cardiovascular issues, Type 2 diabetes, and obesity, with increased sugar consumption playing a significant role…