Innholdsfortegnelse for 2022-03-29 i Star

Edward West edward.west@inl.co.za THE GOVERNMENT-owned Central Energy Fund (CEF) plans to invest R1 billion into the Virginia Gas Project, South Africa’s only onshore petroleum production right, via the acquisition of a 10 percent stake in Renergen subsidiary Tetra4, which owns 100 percent of the project. Renergen’s share price closed 9.71 per- cent up at R43.15 on the JSE yesterday. The transaction follows hard on the heels of a strategic shareholder agreement signed between Renergen and Canada-based Ivanhoe Mines two weeks ago, and the share price has surged 36 percent over three weeks. Proceeds from the CEF subscription will be used to further the development of Phase II of the Virginia Gas Project by Renergen, with Phase I expected to start this month, a statement said…

THE NATIONAL Treasury has increased the allowance for retirement funds to invest offshore from 30 percent to 45 percent and simultaneously collapsed the 10 percent African allowance. This is a big change for the asset management industry, which, excluding Africa, had moved its offshore allowance from 15 percent to just 30 percent in the first 25 years of democracy. What, if anything, does the change in foreign exchange regulations mean for your investment strategy? Surprisingly, in the short term, perhaps not much. Post the regulatory change, we engaged 14 asset management companies in the multi-asset mandates we make use of, and none intended to increase their foreign exposure in the short term, given their view that valuations still favoured South African assets. We suspect, though,…

Dieketseng Maleke dieketseng.maleke@inl.co.za CAPITAL Appreciation, whose investments include the GovChat platform, saw a “pleasing“ performance from each of its business units in the past year, boosted by an acceleration in commercial activity. The group said in a pre-close update for the year ended March 31, that earn- ings per share (Eps) and headline earnings per share (Heps) were expected to increase by between 25 percent and 35 percent when compared to the prior year. “Eps are expected to increase to between 12.85 and 13.88 cents per share and Heps are expected to increase to between 12.93 and 13.96c per share for the 2022 financial year,” the group said in a JSE regulatory notice. The company’s management said the results were achieved through strong top-line growth and good…

James Mahlokwane james.mahlokwane@inl.co.za PARENTS love to hear children talk about what they dream of becoming as adults. However, most children change their career aspirations as they grow older and discover their true potential and identity. Kelebohile Mothoa, 21, defies this norm. Her career counsellors planted in her the permanent seed of a desire to fly airplanes when she was just 8. The counsellors had visited her Sediba-Sa-Tsebo Primary School in Soshanguve. All her life she watched her friends, peers and people around her change their minds about what they wanted to become when they grew up, but her obsession with flying and her dream to fly passengers across the world was not negotiable. Her parents looked at her and heard her speak about her dream and just knew the child…

MOHAMED SAEED | Pietermaritzburg THE RUSSIAN invasion of Ukraine is leading conversations at our dinner tables, screens and other social spaces. Children are constantly being exposed to crime-related information, war images, devastation, suffering and harm. War destroys families and communities, disrupts the development of the social and economic structure of countries and causes physical and psychological harm to children and adults. Such constant exposure to frightening reports, violence, bloodshed and suffering affects the well-being of young people, especially children. Living in constant fear is an uncomfortable experience and can lead to anxiety, stress and cause children to experience depression, helplessness and desperation. The emotional impact the painful events have on learners will affect their learning and careers as they cannot learn if they do not feel safe…

Lehlohonolo Mashigo lehlohonolo.mashigo@inl.co.za TOURISM Minister Lindiwe Sisulu was in the Northern Cape at the weekend to engage with key stakeholders in the tourism sector in the province. Sisulu was in Kuruman, where she met industry leaders and key players in the sector, including the widow of historian Credo Mutwa, Virginia Mutwa, who is one of the important role- players for tourism in the province. Spokesperson for the department, Steve Motale, told The Star that Credo Mutwa was a national treasure whose work needed to be celebrated and his work preserved. “In the Northern Cape where he lived and worked, his house is visited by many from around and outside the Northern Cape. “As said, if our own heroes are celebrated, it will lead to many tourists visiting his grave…

Cypriot authorities are investigating complaints that carcases of kangaroos and other animals from a zoo were unceremoniously dumped at a landfill site in bin liners. The Animal Party Cyprus said yesterday that police and local authorities have launched a probe into the allegation of protected animals being disposed of in municipal plastic bags. It said the owls, kangaroos and a wallaby were from a zoo in the southern port city of Limassol. Police promised an in-depth investigation into the matter. | AFP…

Edward West edward.west@inl.co.za ADvTECH, the private education group, is likely to continue its robust growth trend and good cash generation after reinstating its dividend payment ratio in the year to December 31 to the same level as before the disruption caused by Covid-19, chief executive Roy Douglas said yesterday. A final dividend of 31 cents was declared, bringing the full year dividend to 50c (2020: 20c) a share. The group lifted normalised earnings per share by 35 percent to 121.5c after good enrolment growth, a signifi- cant improvement in collections and better efficiencies. Douglas said ADvTECH had delivered strong results, reinforcing a consistent performance and highlighting its robust business model. “We continue to benefit by revising structures, improving systems, enhancing our technological capability and strong financial management,” he…

Shingai Darangwa shingai.darangwa@inl.co.za There was a moment right after Chris Rock made an ill-advised joke about Jada Pinkett-Smith’s hair loss, claiming that he was looking forward to seeing her on GI Jane 2, where Will Smith seemed to get lost in the moment. With his wife, who was seated next to him, clearly unimpressed with Rock’s joke, Smith laughed heartily along with the rest of the audience gathered at this year’s 94th annual Academy Awards. Then he seemed to suddenly come to the realisation that Rock was poking fun at his wife’s battle with alopecia, a disease that results in hair loss. Rock’s joke makes reference to the ’90s blockbuster GI Jane in which Demi Moore rocked a heavy buzzcut in the title role. Casually, Smith rose to his feet,…

Sifiso Mahlangu sifiso.mahlangu@inl.co.za AFTER battling for a month to get answers out of the Department of Forestry, Fisheries and Environment about the mysterious South African-registered trawler Elke M, the department capitulated and provided concerning information about the vessel. The Star investigations started after a whistle-blower disclosed that unlawful BBEEE fronting was rife in the fishing industry and the department was turning a blind eye. It was further disclosed that Spanish fishing giant Iberconsa was behind the fronting. Despite claiming on their website that they fish extensively in South African waters, the department assured our investigating journalists that Iberconsa had no fishing rights in South African waters. We found that Iberconsa was claiming on their international website that the Elke M was part of their fleet trawling our waters for fish.…

Betty Moleya betty.moleya@inl.co.za DO NOT give up, and make use of your talent, says Charles Mokoena, famously known as CharleDikwasa012. The Atteridgeville resident used to be a dancer for the legendary Mujava and Winnie Khumalo, among others. His journey in the music industry started back in school as a dancer and his potential was recognised later on. Determined to make it in the entertainment industry, he decided to become a musician and collaborated with DJ Active Khoisan of Linga’s Entertainment and Sonsei on his track titled Ramaphosa, released late last year. The dancer turned musician is now signed to record label Afromogul and has released a single titled KeMokakathi. The music video of the single is available on YouTube. He makes commercial house music and amapiano and is working on…

THERE ought to be consequences for unacceptable behaviour by public figures paid out of the public purse. When that includes breaking an oath or solemn affirmation, the guilty person should pay a price. The KZN premier, Sihle Zikalala, does not loom large in our country. But he is well known and influential in the province where he occupies such a high position. He recently criticised the courts for “overreach”, saying: “It is time we should debate whether the country does not need parliamentary democracy where laws enacted by Parliament should be above all and not reviewed by another organ.” It sounds like the Nirvana Jacob Zuma would have dreamt of having. Zikalala wants to trash our Constitution and fatally undermine the courts while reverting to the position we endured under…

Mwangi Githahu mwangi.githahu@inl.co.za TECHNOLOGY met history when the digital version of the original 1961 warrant of arrest for Nelson Mandela scored a winning bid of R1.9 million in aid of Liliesleaf Farm and Museum, at a historic NFT auction held in Cape Town over the weekend. The Mandela arrest warrant had a reserve price of R1.5m and was sold for R1.9m. The auction was the brainchild of Momint (online marketplace) chief executive Ahren Posthumus, who said the money raised was a remarkable outcome. He said Liliesleaf, which, despite its national importance has experienced significant financial constraints in recent years, has embarked on a fund-raising mission, leveraging its historical assets as NFTs to open a gateway to global markets for South Africa’s arts and culture industries. Last year, the same firm…

In the last two articles on African leaders who’ve paved the way for us, we discussed the 17 leaders covered by Barrister Dudley Thompson in his book, They Are Africans. In this article, we will go beyond those leaders, as that list is not exhaustive – Africa has produced numerous leaders whose profiles could never be contained in one book. First things first, in South Africa, with our history going back to 1488, when the first Portuguese voyager touched our shores, near Gqeberha. We have to start where it all began, more so because those in the front line bore the full wrath of colonialism when it was most intolerant of any resistance from indigenous people, whom it regarded as non-humans. In the days of slavery, all over the world,…

Ukraine warned yesterday the humanitarian crisis in the pulverized city of Mariupol was now “catastrophic”, as fighting surged around Kyiv ahead of new face-to-face peace talks with Russia in Turkey. Russian attacks near Kyiv cut power to more than 80 000 homes, officials said, underscoring the peril facing the capital despite an apparent retreat in Moscow’s war aims to focus on eastern Ukraine. “The enemy is trying to break through the corridor around Kyiv and block transport routes,” Ukraine’s deputy defence minister Ganna Malyar said. “The defence of Kyiv continues. It is very serious today,” she said. “It is extremely difficult for the enemy, but we must be honest about the fact that the enemy is trying to capture Kyiv, because to capture Kyiv is essentially a captured Ukraine,…

Banele Ginindza banele.ginindza@inl.co.za PARLIAMENT is likely to only receive a warbled response on its demand from the Department of Public Enterprises (DPE) on the South African Airways (SAA) equity partnership deal with Global Airways that saw the Takatso Consortium taking a major stake in the national airways. The deal has been mired in controversy since it was announced in July last year. Parliament’s Standing Committee on Public Accounts (Scopa) last week instructed the DPE to provide details on the processes or lack thereof, leading to the uplifting of the Takatso Consortium as the preferred majority partner for SAA. Industry insiders said over the weekend that the deal was unlikely to be consummated as expected, because Global Airways, the majority partner in Takatso, had been doing “free shopping”, expecting the State…

Rapula Moatshe rapula.moatshe@inl.co.za A GROUP of Checkers hyper supermarket workers in Pretoria North face suspension after they accused their branch manager of calling them “baboons and stupid blacks”. Racial tension reached boiling point yesterday when the company called in private security to prevent workers from entering the store. Workers said the protest against racism started on Saturday when the EFF was asked to intervene. They claimed they sought help from the SA Commercial, Catering and Allied Workers Union (Saccawu). Some accused the union of siding with management, saying their shop steward was among their colleagues who continued to work. On Saturday, the EFF stormed the store, threatening to close it following a heated exchange of words with the management. When the Pretoria News yesterday visited the store, there were armed…

Chulumanco Mahamba NORTH West education officials have been ordered to investigate allegations of the rape of two minors by a school caretaker. Non-profit organisation Section 27 welcomed a recent court order from the North West division of the High Court that declared that North West Education Department officials were in breach of their constitutional, statutory and common law duties regarding cases of sexual assault at a primary school in the province. The officials were ordered to investigate allegations of the sexual assault of two minors by a school caretaker, and undertake appropriate disciplinary action against the perpetrator, if found to be guilty. One learner was allegedly raped by the school caretaker in 2015, and two years later the same caretaker allegedly sexually assaulted that learner’s younger sibling. According to Section27,…

IT IS notable that the Cabinet has strategically extended the National State of Disaster until Good Friday this year. This smeans faith-based organisations who host large mass gathering events will not be in a position to do so this year. Although the National State of Disaster extension is paved with good intentions, the distress of the pilgrims cannot be ignored. The Israelites had the similar experience when they could not attend their pilgrimage, thanks to their exilic days in Babylon. David succinctly captures their frustration in Psalm 137: “By the rivers of Babylon, there we set down, yea, we wept, when we remembered Zion.” The memories of Jerusalem – the setting of their temple, worship, feats, celebrations, and more had become their greatest source of joy. It is for this…

Thabile Mange | Mogale City WHEN Russia first attacked Ukraine, the SACP expressed its unwavering support for Russia. The SACP supports Russia because it shares the same ideology, communism, with Russia. That’s lame. The pertinent question is: is communism still relevant in this day and age? Maybe, maybe not. But if it is, the SACP would be one of the biggest political parties in South Africa. The opposite is true. That said, the SACP is yet to contest elections. In other words, it is yet to test whether voters support its ideology. And its behaviour suggests that it will not contest elections anytime soon. In fact, it does not look like it ever will. Dr Blade Nzimande’s party says breaking away from the tripartite alliance, which includes Cosatu,…

Staff Reporter A British national who was reported as missing on Sunday evening by Reaction Unit South Africa (Rusa) is said to have returned to his B&B after he got stuck in a sugar cane field. “Rusa has been contacted by a friend of Micheal John McCullagh who informs that he has been located by a Zimbabwean couple stuck in a sugar cane field,” Rusa spokesperson Prem Balram said in an update on Sunday evening. Balram however added the report had not been confirmed and further details were not yet available. Earlier, Balram had issued a statement asking the public to assist in locating McCullagh, 75, who had been missing since 1am on Sunday. Balram said McCullagh had arrived in South Africa from the Isle of Man and spent a…

Zainul Dawood zainul.dawood@inl.co.za VIDEOVISION Entertainment director and film producer Anant Singh is expected to make an investment of R7.5 billion for the development of film and television studios and related sectors in Durban. Singh announced this development at the fourth South African Investment Conference hosted by President Cyril Ramaphosa in Johannesburg last Thursday. The film and creative industries featured prominently at the conference, which saw the introduction of the South Africa Investment Conference Business Awards. Ramaphosa presented Singh and Videovision Entertainment with an award for developing the Cape Town Film Studios, which have been the catalyst over the past 12 years for the Western Cape to benefit from a significant multiplier effect created by the film industry. These studios have enabled the generation of an estimated R7bn a year in…

A Kenyan court yesterday acquitted 16 motorcycle taxi riders arrested over an attack on a female diplomat after the state failed to provide any evidence against them. The riders were rounded up early this month after a viral video showed men grabbing at the young woman’s clothing and groping her as she screamed for help from inside the car, whose door had been forced open. The prosecution said they did not have enough evidence to link the riders to the crime. The attack sparked a protest in the Nairobi. | AFP…