Innholdsfortegnelse for 2022-09-16 i Star

AIRPORTS Company South Africa (Acsa) has reported a R1 billion loss for the year ended March 31, 2022, down from a loss of R2.6bn the previous year, signifying narrowing losses with traffic volumes remaining below pre-pandemic levels. Acsa yesterday said the 2021/22 financial results largely reflected a difficult operating environment following the Covid-19 pandemic and last year’s July civil unrest. Acsa chief executive Mpumi Mpofu said that even though this year’s performance had been much better than the previous year, the persistently tough operating environment has somewhat slowed down recovery. Revenue was R3.9bn for the 12-month period, up by 81 percent from the R2.2bn reported in the previous financial year. Mpofu said that the recovery that occurred during the reporting period was supported by a gradual and intermittent…

THE DEVASTATING impact of the pandemic and the Ukraine war on South Africa’s export trade were laid bare at the annual Eastern Cape Export Symposium that was held in East London this week. The Citrus Growers Association’s Justin Chadwick said the biggest problem facing citrus growers at present was high freight costs. While export volumes were still healthy, many exporters would not be making any money this year because of the high freight costs. Freight rates had increased sharply during the Covid-19 pandemic and during the ensuing global supply chain disruptions thereafter, and these rates had increased by four times since the start of the pandemic. Freight costs amount to some 40 percent of the export cost chain, said Chadwick. He said it was not as though the major…

RAND MERCHANT Bank (RMB), the corporate and investment banking arm of FirstRand, delivered a solid set of annual results with pretax profit up 17 percent, however, its African operations took a knock in Nigeria. For the year to the end of June 2022 RMB posted pre-tax profit or R11.6 billion from R9bn the prior year. Profits before tax in Rand Merchant Bank’s Africa operations declined 17 percent during the full year to the end of June 2022 with the Nigerian market, battling foreign currency shortages and a plunge in the value of the Naira unit of exchange, proving proved problematic for the financial services concern. Despite this, the “Africa portfolio remains key to RMB’s growth” especially as a 5 percent quickening in pre-provision operating profit…

ADVOCATE Thomas Thobane, for four of the five men accused of murdering Senzo Meyiwa, yesterday told the North Gauteng High Court, Pretoria, that no intruders went into the house and shot the footballer. Thobane said it was Longwe Twala, son of music legend Sello “Chicco” Tshwane, who arrived with two men, leading to the shooting of Meyiwa. According to Thobane, Twala arrived at the house already upset, after which an argument ensued between him, Meyiwa and sisters Zandi and Kelly Khumalo. He said the fight was due to the fact that sister Zandi had started a sexual relationship with Meyiwa after she moved into the couple’s Mulbarton residence. Thobane said Khumalo had requested Zandi to keep an eye on Meyiwa in her absence as she wanted to focus on her…

Power utility Eskom said as a result of a court order issued in July, the National Energy Regulator of South Africa (Nersa) is in the process of consulting on the utility’s multi-year price determination (MYPD) revenue application for financial year 2024 and 2025. Eskom was yesterday updating key assumptions in the revenue requirement for financial year 2024 and 2025. In accordance with Nersa MYPD methodology, Eskom is required to provide any updates on changes in conditions and environments that impact various cost elements of the revenue requirements. “The total revenue as applied for in June 2021, is R335 billion for financial year 2024 and R365bn for financial year 2025 remains the same,” said Eskom spokesperson Sikonathi Mantshantsha. He said changes were made within the cost items as required with an…

RAPPER Priddy Ugly says his journey to the much-anticipated boxing match with Cassper Nyovest has been far from smooth sailing. The pair are set to lock horns in Celeb City on October 1 when one of them will take home the coveted title. Speaking to The Star, Priddy Ugly revealed that he had always been fond of boxing and wanted to be involved in this fight to highlight its importance. “People who know me from the East Rand know I’ve been fighting for a long time. I was just training for fitness before Cassper reached out to me. But later I started taking the sport seriously. I enrolled in a local boxing academy and have been training like a professional boxer for the last couple of weeks,” Ugly said. “It’s…

The Western Cape High Court has ordered a settlement in a 13-year dispute over shares in a Cape Town company between an estranged brother and sister, Deborah Heinrich and Charles de Cerff. The shares were in a company known as Expertool Manufacturing Pty Limited of which De Cerff and his deceased brother-in-law Kevin Heinrich, who died in January 2009, were joint shareholders and directors. In December 2003 Kevin Heinrich and De Cerff entered into a written buy-and-sell agreement for shareholders which provided for the sale of the shares in the company in the event of the death or disability of a shareholder. The company’s cumulative shareholding was 120 shares, of which Kevin Heinrich held 57 shares. In the terms of the agreement, the shareholders effected certain life assurance policies in…

Tel Aviv: Following a deadly shootout, Israel has closed two checkpoints in the West Bank and warned it might impose more restrictions. The Al-Jalama (Gilboa) and Salam checkpoints, the two main crossings between the West Bank and Israel, will be closed “until further notice”, officials said. The measures were taken by Defence Minister Benny Gantz following “an evaluation of the security situation” and in the wake of an incident in which two Palestinian gunmen opened fire at Israeli troops near the Al-Jalama checkpoint, killing an army officer. The two Palestinians were killed by the Israeli forces. | IANS…

GRAHAM Potter got an early indication of the reasons Thomas Tuchel was sacked as Chelsea were held 1-1 by Red Bull Salzburg in the English coach’s debut in the Champions League. The Blues have just one point from their opening two games in Group E and Potter has little time to settle in ahead of a crucial double-header against AC Milan next month. However, Potter does have 16 days before Chelsea play again to get his ideas across after their match with Liverpool this weekend was postponed due to policing arrangements around Queen Elizabeth II’s funeral in London. AFP Sport looks at the issues at Stamford Bridge that Potter must find answers to. Score more goals Even in the heyday of the Tuchel era when Chelsea won the Champions League…

FOR a defence guru like Jacques Nienaber, it is worrying when he feels that the Springboks are not up to scratch in that department – just a year out from the World Cup. The one obvious statistic to consider on defence is the tries against column, and in that regard, South Africa have leaked nine touchdowns in four Rugby Championship matches this year. That doesn’t sound too bad, but looking back at the 2021 competition – where they gave away 10 tries in six matches, it puts it in context ahead of two games against Argentina, in Buenos Aires tomorrow (9.10pm kickoff) and Durban next Saturday. The Pumas will certainly be stretching the Bok defence in front of what is expected to be a boisterous, 42 000-capacity crowd at Estadio…

The landscape has since changed because of the Covid-19 pandemic and the past difficult two-and-a-half years SOUTH Africa’s tourism industry has revised downwards its annual target for 21 million international tourist arrivals and 2 million jobs in the country by 2030 after the Covid-19 pandemic shaved off at more than two years of activity. Tourism Business Council South Africa chief executive Tshifhiwa Tshivhengwa yesterday said this. In 2018, the tourism industry presented a 20-page growth strategy setting ambitious milestones to attract at least 21 million visitors and create two million additional jobs by 2030. However, Tshivhengwa said that the landscape had since changed because of the Covid-19 pandemic and the difficult two-and-a-half years that the industry has gone through. “So we do acknowledge that we are not going to…

Non-performing Loans (NPLs) across FirstRand’s portfolio are improving and, backed by strong collections and origination strategies, helped lower the impairment charge for the South African financial services group – which also has operations in African and UK markets – by 48 percent to R7 billion, with full year normalised earnings springing up 23 percent to R32.7bn. The group, which encompasses FNB, Wesbank and RMB, yesterday declared a 342 cents dividend for the full year to end June against 263c a year earlier. Additionally, FirstRand has written a pay cheque of 125c per share in special dividends for the same period. NPLs across FirstRand’s retail, commercial, corporate and other portfolios decreased 16 percent on a year on year basis, with the non-productive loans ratio as a…

The appointment of Zanozuko Tyelovuyo Sigcau as the king of amaMpondo aseQaukeni has been reviewed and set aside by the Supreme Court of Appeal (SCA). “It is declared that the queen or king of amaMpondo aseQaukeni is to be identified in terms of the process set out in Section 8 of the Traditional and Khoi-San Leadership Act 3 of 2019, or, if that provision is not in force when the queen or king is required to be identified, then in accordance with the applicable law in force at the time,” acting Judge Mandela Makaula ruled. The kingship of amaMpondo dates from the time of Faku, who led the amaMpondo from 1824 to 1867. At some stage, amaMpondo separated into amaMpondo aseNyandeni (Western Pondoland), and amaMpondo aseQaukeni (Eastern Pondoland). Faku was…

THE City of Johannesburg’s Library and Information Services Region C and Unisa staged two-day International Literacy Day celebrations at the Weltevreden Park and Florida libraries last week. Community Development MMC Ronald Harris said he has a great love for books and literature. “Since 1967, International Literacy Day celebrations have taken place yearly across the world to remind us of the significance of literacy. Being literate not only gives one dignity but it is also a human right and advances the literacy agenda toward a more literate and sustainable society,” he said. “Our programmes were presented to highlight the value of literacy and literature in society. We targeted all ages, from preschool children to adults and pensioners.” The tea and inspiration event started the two-day celebrations at Weltevreden Park Library. Elaine…

Cape Town residents are being cautioned to keep an eye out for snakes. Snake Rescue co-ordinator volunteers say snakes are coming out of their hiding spots and shelters in search of food and water as the weather becomes warmer. Snake Rescue co-ordinator Shaun MacLeod said: “Snakes must come out and look for food and water to continue to live and reproduce. If you encounter a snake on your property, you should contact a seasoned professional to assist. They are usually available 24/7 to advise or for emergencies on snake encounters.” MacLeod said snakes are shy in nature and would not attack anyone unless provoked. “In this case, they will defend themselves. I work with one of the largest and most experienced snake rescuers across the Cape. We have more than…

If the purpose of a parliamentary inquiry was to find out whether the public protector is incompetent or not, then that is no longer possible because according to media reports she is just guilty, as insinuated. All certainty is gone, as the waters have become seriously muddied, and it is no longer possible to say the inquiry is about the protection of the public from the tentacles of a suspended public protector, or the protection of that office from the public. Headlines on most news platforms solely focused on the fact Mkhwebane has been “blocked” from returning to her job, instead of the fact this time around, the court ruled in her favour. For we have been told from the onset courts always go against her because of her poor…

Wellington: Sea levels around New Zealand have increased at a faster rate in recent decades compared with the first half of last century, the country’s statistics department Stats NZ said yesterday. According to Stats NZ’s environmental indicator Coastal Sea-level Rise, sea levels rose faster over the last 60 years, 1961 to 2020, compared with the previous 60 years, 1901 to 1960, at four main sites with records dating back to the 1890s and 1900s: Auckland, Wellington, Lyttleton and Dunedin. Climate change is one of the main causes of sea-level rise. The coastal sea-level rise indicator was last updated in 2019.…

KAIZER Chiefs captain Itumeleng Khune says there are players that seem to be starstruck at the club and that’s why they haven’t come out of their shells. Chiefs have endured a seven-year trophy drought, having last won a silverware - the league title - back in 2015 under Stuart Baxter. But they’ve since decided to take the route less travelled this campaign, appointing novice Arthur Zwane as the new coach to rebuild the team. Zwane knows the club like the back of his hand and coached in the development ranks, but the senior team coaching role was all new to him and his rebuilding phase hasn’t gone according to the script as his team is languishing 14th on the standings, with eight points after seven games. This isn't…

ERLING Haaland’s stunning acrobatic finish to beat his old club Borussia Dortmund 2-1 on Wednesday sparked comparisons from Manchester City manager Pep Guardiola with his mentor Johan Cruyff. The Norwegian had been kept remarkably quiet, but only needed the slightest glimpse of goal to extend his scoring streak to six games as his telescopic left leg prodded home the winner six minutes from time. Haaland has now scored 13 goals in nine games for City since they met his bargain £52 million (about R1.047 billion) buyout clause from the German giants. “Everyone knows how important a person Johan Cruyff was in my life. As a person, educator, mentor, everything,” said Guardiola. “He scored in Camp Nou an incredible goal against Atletico Madrid (in 1973) that was quite similar. The moment…

​A​NALYSTS yesterday reiterated the call for a thorough review of legislation after Eskom yesterday issued a statement updating key assumptions in the revenue requirements for its application for an MultiYear Price Determination (MYPD) 5. Eskom has proposed a 32.02 percent electricity price hike from April 1, 2023. In accordance with National Energy Regulator of South Africa (Nersa) MYPD methodology, Eskom is required to provide any updates on changes in conditions and environments that impact various cost elements of the revenue requirements. Analysts said yesterday that the on-going application by Eskom and review by Nersa of the tariff structure should indicate if regulatory changes need be made as Nersa has become the underdog in applications by Eskom that eventually are overturned by the courts. Energy analyst Chris Yelland said yesterday:…

METAIR Investments, a manufacturer, distributor and retailer of automotive components and energy storage solutions, yesterday reported interims that were battered and bruised amid a perfect storm of headwinds, amid expansion, which led it to breach its debt covenants. For the six months ended June 30, 2022, its headline earnings per share dropping from 170 cents to 45c, were down 73 percent Net debt ballooned by 84 percent to R2.4 billion from R1.3bn, while its net debt to equity ratio increased to 49 percent. However, Sjoerd Douwenga, Metair’s chief financial officer, said Metair should see the debt and net working capital levels normalise in the second half. “Our funders recognise the short-term nature of this position and have been supportive in discussions around the waiver of…

FORMER standing committee on public accounts (Scopa) chairperson Themba Godi has called on government leaders to remove all hurdles that have deliberately been put in place to prevent the South African Post Office from ever obtaining a banking licence. Godi, president of the African People’s Convention (APC), was reacting to Nedbank’s persistence in appealing an interim interdict forbidding it from closing accounts belonging to Sekunjalo Investment Holdings and associated companies. The group’s accounts remained open only because this week the Western Cape High Court’s Judge Mokgoatji Dolamo reserved judgment of Nedbank’s application for leave to appeal the June ruling. In his ruling three months ago, Judge Dolamo ordered Nedbank to reopen Sekunjalo’s accounts that had already been closed in April 2021, more than a year before the interdict was granted.…

Gauteng is among the top four provinces with the highest number of reports of alleged corruption. This is according to the sixth edition of the Corruption Watch Analysis of Corruption Trends report released on Wednesday which unpacks the ways in which corruption undermines and erodes fundamental human rights. The report is based on cases brought to the organisation by brave whistle-blowers, who risk their lives and livelihoods to reveal the dodgy dealings of politicians, administrators, and businesspersons. Between January and June, the organisation received 1 037 whistle-blower reports. The most prevalent types of corruption are fraud, amounting to 35% of the reports, abuse of authority and victimisation of whistle-blowers and maladministration, both at 17%, bribery and extortion (including sextortion) at 16%, and procurement irregularities at 15%. The four provinces with…

THE City of Joburg has been urged to co-ordinate its efforts at addressing service delivery challenges in Region F. Addressing a Ward Councillor Forum meeting to provide feedback to the councillors on projects, programmes and service delivery issues at the Brixton Multipurpose Centre last week, Group Corporate and Shared Services MMC Leah Knott, who serves as the political head responsible for Citizen Relations and Urban Management (CRUM), urged for a co-ordinated approach to service delivery. The meeting was also attended by officials from various city departments and entities who delivered presentations on their capital projects and repairs and maintenance schedules within the region. Some major capital projects currently under way in the region include the resurfacing of the M2 motorway westbound carriageway from New Goch road to Maritzburg off-ramp, Booysens…

AFTER a rocky road of losing assets and having fans and celebrity friends reach out to him, Goodwill Malinga, known as Dr Malinga, revealed that he had just settled what was due to the SA Revenue Service (Sars). “Just paid 100k to Sars. Thank you so much fam. Thanks, Bye,” shared Dr Malinga. Dr Malinga visited the popular Podcast and Chill with MacG and shed tears while explaining the repossession and auctioning off of his belongings. On the podcast, he revealed that he had no issue when popular gossip blogger Musa Khawula broke the news on the internet because he thought he could pay Sars momentarily. This episode commanded everyone’s attention online with many people showing care and support, and as a result fans and popular artists such as Makhadzi…

Serves 4 Ingredients 4 large pork chops 60ml olive oil 5ml chopped garlic 15ml balsamic vinegar 30ml chopped thyme 2-3 potatoes, sliced 2 red onions, cut into wedges 1 bulb of fennel, sliced 1 red pepper, chopped 1 yellow pepper, chopped Salt and pepper 125ml chicken stock Method Put the pork chops in a plastic bag. Combine 45ml of the olive oil, garlic, vinegar and thyme and pour over the chops. Massage well and leave to marinate for an hour. Place the potatoes, onions, fennel, peppers and remaining olive oil in an ovenproof casserole. Season well. Arrange the chops on top of the vegetables and pour over the stock. Bake at 180ºC for about 30 to 40 minutes, turning the chops over halfway through the cooking time. Remove and serve.…

Russian President Vladimir Putin yesterday said he understood that Xi Jinping had questions and concerns about the situation in Ukraine, but praised China’s leader for what he said was a “balanced” position on the conflict. Russia’s war in Ukraine has killed tens of thousands of people and pushed the global economy into uncharted waters, with soaring prices for food and energy amid the biggest confrontation between Moscow and the West since the Cold War. At their first face-to-face meeting since the war started, Xi said he was very happy to meet “my old friend” again after Putin said crude attempts by the US to create a unipolar world would fail. “We highly value the balanced position of our Chinese friends when it comes to the Ukraine crisis,” Putin told Xi.…

London: A campaign has been launched to give the late Queen the title of “Elizabeth the Faithful” because “the Great” is rather common and has been used by despots and conquerors, media reported. Senior UK politicians, including Boris Johnson, the former prime minister, have referred to Elizabeth II as “the Great” since she died last week at 96. But Security Minister Tom Tugendhat referred to her as “the Faithful” and a former Conservative Party Treasurer insisted it was the best moniker to use. The only British monarch called “the Great” was Alfred, an Anglo-Saxon king of Wessex. | IANS…

WHEN Boeboes runs out on to Emirates Airline Park this weekend, many things will have changed, himself included. Springbok Andries Coetzee recently made a surprising return to the union, and tomorrow the Lions fullback will start in the opening round encounter of the United Rugby Championship (URC) against the Bulls at the hallowed ground. The 32-year-old last played for the Lions during the Covid-19 impacted Super Rugby season of 2020, before moving on to Japan and then finding himself in Italy plying his trade with Benetton. Indeed, his last game for that franchise was against the Lions in the URC in April at Ellis Park, playing off the bench in a 37-29 loss. He has since returned to the Big Smoke, and while the surroundings will be familiar, the team…

NEWCASTLE United manager Eddie Howe will face his old club Bournemouth in the Premier League tomorrow, hoping to ignite a season that has so far been a slow burner. Seven points from their opening six games is a modest haul for a club with such grand ambitions following last year's Saudi Arabia-backed takeover but the mood on Tyneside remains buoyant. That is hardly surprising considering last season Newcastle went into December without a league win and on a meagre seven points before finally beating Burnley. Howe, appointed last November, has turned Newcastle into a side that are tough to beat and a thrilling 3-3 draw with champions Manchester City in August proved they have the capability to trouble the big guns. Some eye-catching signings such as the deadline day swoop…