Innholdsfortegnelse for 2024-01-23 i Cape Argus

LAST year was certainly been a year of unexpected trends shaping the global economic and investment landscape. It turned out to be a far better year for investors than most analysts had predicted, with the so-called Magnificent 7 mega-cap tech stocks dominating global equity market returns. South African markets fared less well, lagging their global counterparts significantly. After the surprises of last year, what’s the investment outlook for 2024? What can we expect from financial markets? With a myriad factors impacting reliable predictions, the unfolding of macro events and global trends often tends to surprise analysts. 2023 was no exception, again highlighting that no one can forecast consistently and accurately. Despite this, however, we should and do endeavour to understand the macro environment. While we should “expect the unexpected”, and…

One of the most exclusive clubs in show business is the Egot – the group of celebrities who have an Emmy, Grammy, Oscar and Tony award. Of all the stars to have graced screens in Hollywood history, only 19 have achieved Egot status. Elton John became the latest to do so last week when he won an Emmy for Outstanding Variety Special for his televised live farewell performance at Dodger Stadium in Los Angeles in November 2022. So, what does Egot really mean? And who else has won? The facts The acronym Egot stands for Emmy, Grammy, Oscar and Tony, and is used to refer to people who have won at least one of each of the main American entertainment awards in competitive categories. The term was first coined by…

RESIDENTS of Site B, Khayelitsha yesterday marched to their local police station to protest the release of a man suspected of raping and killing a 32 year-old mother. Yanga Dolly Mlanjeni’s lifeless body was discovered in her shack in Site B on Saturday morning, she had been undressed and is believed to have been raped, allegedly by her neighbour (the suspect). A witness, who asked not to be named, said he arrived at his home at around 2am and found the suspect sleeping in his bed. “When I asked him why he was there he told me he was waiting for Dolly. I chased him out and went to sleep. In the morning I woke up and found out Dolly had been murdered. “The suspect waited for my sister to…

Minister of Public Enterprises Pravin Gordhan believes the State Enterprises Bill will strengthen the functioning of state-owned entities (SOEs) and improve their efficiencies. The Cabinet approved the bill last December and it has been sent to Parliament for processing. The bill calls for the establishment of a state-owned holding company for some of the SOEs. Gordhan said they were taking a number of measures to fix some of the ailing SOEs. Transnet, Denel and Eskom have in the past few years been mired in serious financial and operational challenges, which had had an impact on the economy. Unions have been warning about job cuts in the mining sector because of challenges in the rail network. The volumes of cargo transported by rail has declined in the last five years because…

The ANC says the entire DA leadership in the City of Cape Town should be in the dock. This after the City held a special council meeting in which it tabled a report that implicated a senior City official in the collapse of waste collection in Cape Town townships. The report, leaked to the Cape Argus, stated that the formation of a new “in-house” waste collection model was undertaken with no delegated authority by the official and his principal. It is alleged that this model led to waste not being collected in some townships. The model also resulted in high court action against the municipality. ANC caucus leader Banele Majingo called a press briefing after the Special Council Meeting, which was closed to the public, to address some of the…

With the aim of combating household hunger, Mitchells Plain community activist Joanie Fredericks, along with Seed To Harvest Visionary Shaun Cairns, hopes to instil hope back into the community through their household farming initiative. The pair along with Angel Network will launch their household gardening initiative on Wednesday, with 40 families across the impoverished community. The duo who met during the peak of the Covid-19 pandemic again found themselves putting their heads and hands together after realising that feeding scheme lines were growing at an alarming rate. Cairns, who is a farmer, said the community garden was a trial to their pilot to be launched. “We decided to take the organic farming models to a household level. The families have committed to be part of the initiative. We will be…

As promised, this week I continue my mission to write columns where I make suggestions as to how we can best manage and turn the tide on the homelessness crisis in Cape Town. This week sees me addressing the importance of us not only dealing with the challenges faced by those living on the street, but as importantly, the need to start emphasising the benefits of policy approaches that move to the prevention of homelessness. We need to lobby for policies that address the structural causes of homelessness. This may be the most important factor in eradicating homelessness. We as a society need to make an urgent call for the creative use of data and better co-ordination with institutions and systems that may be able to identify the antecedents to…

The relentless conflicts in Ukraine, Israel-Palestine and Sudan starkly expose the international community’s struggle to respond to global crises effectively. These enduring confrontations challenge global governance structures and bring the imperative of understanding their profound human costs to the forefront. It is crucial to recognise the impact of these wars on those most affected – the people enduring these hardships first-hand – and to assess how their voices are represented and addressed within international diplomacy. Wars transcend the boundaries of mere geopolitical events; they are disasters that dismantle lives and futures. The destruction of infrastructure, often in the poorest regions, is starkly visible in satellite imagery of decimated cities in Syria or Yemen, showcasing the extent of physical ruin from above. However, the emotional and psychological trauma that survivors endure…

The Financial Sector Conduct Authority (FSCA) has warned the public to exercise caution when participating in MMM Krypto’s mutual aid fund (MMM Krypto). In a statement, the FCSA said it had come to its attention that MMM Krypto might be rendering financial services to members of the public in South Africa. According to the FCSA, MMM Krypto uses social media platforms and places videos on YouTube, TikTok and Facebook, and referrals to encourage members of the public to participate in MMM Krypto’s scheme. “MMM Krypto promises its participants returns of between 24% and 36% per month. The FSCA is concerned about the unrealistic monthly returns offered to members of the public in South Africa. “Without commenting on the business of MMM Krypto, the FSCA points out that offering financial products…

The lead investigator in the Senzo Meyiwa murder trial yesterday read out his affidavit in court and revealed that the soccer star was not killed during a botched robbery, but his death was a contract killing. “Investigations which resulted in evidence under oath revealed that the victim was murdered as a contractual assassination, or hit, rather than a robbery gone wrong. “Evidence under oath revealed that five suspects actively participated in the planning and execution of contractual murder of Senzo Meyiwa,” said Brigadier Bongani Gininda. Gininda who is also the head of the SAPS’ National Cold Case Unit, became the lead investigating officer in the case of murdered footballer Meyiwa in November 2018. He was under cross-examination in the North Gauteng High Court in Pretoria on Monday. He also revealed…

The auction of late former president Nelson Mandela’s belongings has reportedly sparked discord among the Mandela family, bringing the family’s name into the spotlight in recent days. Mandela’s 1993 original ID book, aviator sunglasses and reading glasses, famed “Madiba” clothing, walking sticks, briefcases, a silver goose tea set, a Robben Island tennis racquet, and hearing aids are among the 70 items scheduled for auction. They have already been advertised on the Guernsey Auction House website and are planned to be auctioned next month. It is also reported that Madiba’s daughter, Makaziwe Mandela, wants to use the money to fund a memorial garden in the Eastern Cape. While many South Africans are denouncing the decision taken to auction items, speculations are still rife. His grandchildren, Mbuso and Ndaba Mandela, expressed…

Since the start of the year, drowning incidents around the False Bay coastline have been in the spotlight. Several fatal drownings have been reported in January with the latest at Fish Hoek Beach on Saturday. Lifeguards rescued a 15-year-old boy from the water after he dived off rocks into the surf but in spite of intensive CPR efforts, he was pronounced dead. This was just one of five fatalities during the month as the National Sea Rescue Institute (NSRI) and emergency services had their hands full responding to drowning at Muizenberg Beach. Tragedy struck at a popular swimming destination on New Year’s Day after two men drowned while another was still being sought after he was swept out to sea. It’s understood the three aged 18, 24 and 28…

The cost of a “survival basket” of food in South Africa at the beginning of 2024 is R1 503, which is 6.07% more than last year, and will see minimum wage earners spend 34.5% of their earnings to buy food. This is according to the Picodi.com study which looked at minimum wages in different countries; how prices of basic groceries increased; and how the cost of a “survival basket” compares to the minimum wage. For the study, a basic grocery “survival” basket consisting of eight groups of products including bread, milk, eggs, rice, cheese, meat, fruits and vegetables was drawn up for one person for a one month period and the costs of it was added up. For South Africa, the minimum net wage was R4 353 and the country…

WITH millions of South African learners back at school, one of the biggest lessons they need to learn in life to help them succeed is financial literacy, which needs to be first taught from home. A Cambridge University study suggests that by age 7, children can develop a basic understanding of financial behaviours they might need in their adult life. Building a strong financial foundation from a young age is critical. Even legendary investor Warren Buffett credits the early money lessons his parents taught him with helping set him up for success. That’s why it’s so important that we help our kids build a healthy relationship with money from an early age. Below are a few simple ways to instil financial habits in your child from an early age. It’s…

The most wanted hitman from Manenberg has been sent to jail thanks to the hard work of top cop Daryl van Noie. Manenberg station commander, Sanele Zama, said after months of searching they nabbed Azharuddin Pretorius who has been on the most wanted list since June last year. He said the 31-year-old member of the Fancy Boys gang allegedly killed a 48-year-old dad in cold blood, shooting him in full view of his minor son. “On August 7 at 11.50am the suspect shot and killed Anthony Harrison, 48 in Ascension Road Heideveld. According to witnesses, the victim was standing with his seven-year-old son when the perpetrator walked up to him and shot him at point blank range, hitting him in the face and upper body, killing him instantly.” Zama said…

The government will soon force municipalities to provide clean drinking water to their residents if the amendment to the National Water Bill and the Water Services Bill are signed into law. The Department of Water and Sanitation (DWS) said that the amendments to the two pieces of legislation would strengthen the role of the department as a regulator of the water and sanitation sectors and thus decisively address socio-economic challenges facing the country. The amendments will empower the department to issue directives to non-compliant municipalities, and if these are not followed it allows the minister to appoint a suitable water services institution to take over the duties pertaining to water provision. The first public consultations on the bill will be held on Tuesday, January 30, in the Northern Cape, followed…

Concerned parents picketed outside a high school in Goodwood yesterday over a number of issues which include demoting learners. Yesterday morning, about 40 people stood outside JG Meiring High School with placards that read: “Kids’ demotions announced over school intercom”, “We want a safe school”, “Bailey must be removed”, “WCED throws a blind eye” and “Pass: 12 Dec 23. Fail: 17 Jan 24 – parents not informed.” Parent Frankie Ricardo Nero said they are not happy about many issues at the school. “On December 12 learners received a pass and last week they were told over the intercom that they didn’t pass. They were told that there was an error in their report cards. “We are not happy about that because this has left children traumatised, with some who have…

It WILL be a repeat of their first home Champions Cup clash of the season when the Stormers face La Rochelle in the round of 16 in Cape Town in April. After securing a home play-off in the so-called group of death of the tournament, the Stormers did not get an easy draw, but instead, they got the defending champions who they already beat in an entertaining clash last month in front of their home fans. The game ended 21-20 after flyhalf Manie Libbok slotted a conversion from the touchline, but this time around the home team will want to make sure that they put their foot on the throats of La Rochelle to avoid another nail-biter. La Rochelle will be desperate to avenge the earlier loss that eventually cost…

Dewald Brevis is the hottest young property in the MI Cape Town stable. Entire marketing campaigns are dedicated to the 20-year-old, and it is all based on his incredible talent and immense potential. But at some juncture all this needs to be translated into the currency of runs. Nobody knows this more than Brevis and not many are more disappointed than the top-order batter himself with his limited return thus far in the second season of the SA20. Brevis has managed double figures just once in five innings with his latest disappointment being a first-ball duck in the Cape derby against the Paarl Royals at Boland Park on Sunday. It has raised the question of whether Brevis should be rested for a couple of matches in the hope that he…

Carlos Alcaraz demolished unseeded Serbian Miomir Kecmanovic to storm into the Australian Open quarter-finals yesterday, as Daniil Medvedev stayed on track for a third final in four years. The Spanish second seed, who will next face sixth seed Alexander Zverev, is locked in a fierce battle with Novak Djokovic for the world No 1 spot and is also after his Melbourne crown. The two-time Grand Slam winner produced some scintillating baseline hitting at Rod Laver Arena to sweep Kecmanovic aside 6-4, 6-4, 6-0 in one hour and 49 minutes. The 20-year-old, who missed last year’s Australian Open with an injury, has dropped just one set so far in Melbourne, where he had previously never been past the third round. “I pushed him to the limit in every ball, every point,”…