Innholdsfortegnelse for 2022-12-21 i Star

STEINHOFF International Holdings’s share price staged a mild comeback, rising 15.7% to 59c yesterday afternoon even as shareholders face further value erosion through its latest plan to repay €10 billion (R184.3bn) debt that is due next year. In the past few days the share price had sunk up to 75% to only 43 cents, after Steinhoff admitted on Friday it would likely not be able to repay its debt on the due date, and that a scheme to extend the debt could likely see it delisted. The Stellenbosch-based holding company, with a primary listing in Frankfurt and secondary listing on the JSE, owns 40 furniture and home product retail brands in businesses across 30 countries. The group has struggled after former executives perpetrated what has become known as South…

VERSATILE rapper Cassper Nyovest is aiming to succeed where Zulu King Misuzulu failed. The ambitious rapper cum celebrity boxer is hoping to bring popular boxer Floyd Mayweather jr to South Africa. Zulu King Misuzulu was left with egg on his face after attempting to bring The Money Team boss to South Africa for his hyped boxing event. Floyd Mayweather jr cancelled his attendance at the King Misuzulu International Boxing Tournament, which was slated for Moses Mabhida stadium on December 11, after the event organiser failed to pay his appearance fee. As a result of Mayweather jr’s decision to pull out, the event was postponed to a later date which will be announced in due course. With that in mind, Nyovest aims to succeed where King Misuzulu failed. In a series…

Joburg mayor Mpho Phalatse said the city has managed to make progress in repairing electrical faults and City Power infrastructure damaged by the recent floods and storms. The city had experienced massive floods that saw more than 300 houses and structures damaged. There was other damage to roads and bridges, and to power lines. This led to Phalatse asking Eskom for a three-day exemption from load shedding to repair the damage. Phalatse said the reprieve enabled her and the multiparty government to solve half of the faults reported to City Power. There were about 4 000 calls logged concerning power outages and other problems. Phalatse estimated that normalising the city’s electricity supply would cost about R31 million. The total cost of infrastructure damage among all entities was estimated at R300m.…

A NUMBER of ANC members who made it to the party’s Top 7 leadership positions, including re-elected President Cyril Ramaphosa, have a dark cloud hanging over their heads from alleged corruption and serious crime. The Top 7 was announced on Monday on the fourth day of the 55th ANC national elective conference. Ramaphosa was re-elected as president, Paul Mashatile deputy president, Fikile Mbalula secretary-general (SG), Nomvula Mokonyane 1st deputy SG, Maropene Ramokgopa 2nd deputy SG, Gwede Mantashe re-elected as chairperson and Gwen Ramokgopa elected as treasurer-general. Ramaphosa, a leader who should be a good example and a fighter against corruption, is at the centre of a scandal involving the theft of $4 million from his game farm, Phala Phala, in Limpopo. In June this year, former spy boss Arthur Fraser…

The Durban Jazz Festival is returning to the KZN entertainment calendar after a two-year hiatus caused by the Covid-19 pandemic. Among the stars set to entertain are Judith Sephuma, Thandiswa Mazwai, Mandisi Dyantyis, Selaelo Selota, Simphiwe Dana, Zahara, Shekhinah, and Ernie Smith, while at the DJ stage, music lovers will be dancing to selections by Oskido with Khaya Dladla, Oros, Zola Zeelovin, and Tha Simelane. Mdu Ngcobo, the festival organiser, has promised a day of music and fun at Hazelmere Dam on December 26. “With all the Covid-19 restrictions and hard lockdowns, you are free to celebrate life again, and what a better way to celebrate it where the weather and atmosphere always permit,” he said. This year marks the festival’s 20th anniversary, with 20 hours of live music…

India will look to steam-roll a plucky but inconsistent Bangladesh in the second Test starting tomorrow in Dhaka to cement their standing in the ICC Test Championship. But the visitors will again be without injured captain Rohit Sharma after he missed the first Test with an injured thumb, the Indian cricket board said yesterday. India are currently second in the Test Championship league table behind Australia, who are currently 1-0 up against the Proteas in a three-match series at home. The current cycle runs to June 2023, with the nine teams each playing six series. The top two sides will meet in the final at The Oval in London. India beat Bangladesh in the first Test in Chittagong by 188 runs, but the visitors, led by KL Rahul in the…

Is Wandisile Simelane an outside centre, fullback or wing? The man himself obviously dished out the “I will play wherever the team need me” line ahead of the Bulls’ United Rugby Championship (URC) clash against the Stormers on Friday, but the jury is still out on where he is best utilised. Coach Jake White has said several times this season that he wants to broaden Simelane’s versatility in order to aid his bid for higher honours. The 24-year-old was part of the wider Springbok training group last year, but hasn’t been called up to the national squad since. Having made the move from the Lions to Loftus Versfeld, Simelane may have expected to be the Bulls’ first-choice No 13, but it hasn’t worked out that way. Lionel Mapoe, Cornal Hendricks…

A tasty treat awaits Durban this week when the Sharks host the Lions in a United Rugby Championship (URC) encounter that could offer a titanic battle between the loose forwards. It would not be unfair to state that on paper, the two units have a similar look and feel about them. Both have pace, experience, a mix of youthful exuberance, powerful ball-carriers and can be defensively near impenetrable on their best days. The names that could possibly be jotted down on the Sharks’ match-23 spreadsheet are impressive: Springbok captain Siya Kolisi, Vincent Tshituka, Phepsi Buthelezi and Sikhumbuzo Notshe have all run out for the team in recent weeks. They could possibly face a Lions loose trio consisting of union legend and Springbok Jaco Kriel, Ruan Venter and Vincent’s younger brother,…

SOUTH African markets fell to a near one-month low yesterday, following their emerging counterparts after the World Bank slashed its growth outlook for China, the world’s second largest economy. The World Bank yesterday said the growth outlook in China, South Africa’s largest trading partner, was subject to significant risks emerging from nearly three years of “zero-Covid” curbs and a real estate slump. In its latest forecast yesterday, the World Bank cut China’s expected growth for 2022 to 2.7%, down from 4.3% previously forecast in June. World Bank country director for China, Mongolia and Korea, Mara Warwick, said China’s growth outlook was subject to significant risks stemming from the uncertain trajectory of the pandemic, of how policies evolve in response to the Covid-19 situation, and the behavioural responses of households and…

THE MINING sector was confronted with an extremely volatile 2022, with three core challenges: Russia invading Ukraine, Eskom’s load shedding and Transnet woes, both port and rail. Business Report spoke to economists and mining industry players to find out how they fared this year, and what 2023 might hold. According to Anchor Capital investment analyst Seleho Tsatsi, when Russia invaded Ukraine, commodity prices soared as the market feared supply shortages, given Russia’s importance as a supplier for many of these metals. He said those fears subsequently eased, and some prices started to revert to pre-invasion levels. “The anticipated easing of zero-Covid policy in China in the fourth quarter has since led to another run in commodity prices,” Tsatsi said. In the first half of 2022, commodities, such as gold and…

It’s a full circle moment for childhood friends Theodore Jantjies, Maurice Paige and Christo Davids as they celebrate their brotherhood, heritage and success in a comedy production, Platform 9: Coming Home, now being staged at the Baxter Theatre. The two-man show had its first run at the Baxter Theatre nine years ago. Written and directed by Davids, the comedy showcase is performed in Afrikaans and English by Jantjies and Paige. “The Baxter has always been where my heart resides,” said Davids. “We are honoured to bring the last instalment of the trilogy to the Baxter. Even more so, we are humbled to be back on stage entertaining Cape Town.” The production is a symbol of the love shared among the trio, and a celebration of how far they have come…

SINCE the start of the festive season on December 1, more than 2 200 motorists have been arrested across the country for various driving offences. According to statistics collected by the Road Traffic Management Corporation (RTMC), 2 241 motorists have been arrested for, among other things, drunken driving, exceeding speed limits, driving without a licence and the violation of permits. This comes as the country prepares for the second peak in traffic volumes on national roads this week as more travellers make their way to various destinations for the festive period. “Evidence shows that some motorists continue to operate unroadworthy vehicles on public roads, placing the lives of other motorists at risk. “More than 4 200 vehicles have since been discontinued from operating,” the RTMC said. “A total of 324…

EFF LEADER Julius Malema has promised to make life in Parliament a living hell for President Cyril Ramaphosa. Malema was speaking to members of the EFF during a keynote address at the 3rd Limpopo’s People Assembly held at the Ngoako Ramatlhodi Sports Complex on Monday. Malema said Ramaphosa must know that the fight to get him out of Parliament has begun; winning the ANC conference did not mean he had won the fight against him. He also called Ramaphosa a delinquent president. Ramaphosa’s triumph, which has been hailed by many as a victory for the ANC’s renewal, will be short-lived, he said, adding that the EFF will make sure that it does not last long. “Whether he likes it or not, Ramaphosa will not finish his term. We will fight…

The SA Health Products Regulatory Authority (Sahpra) has approved an antiretroviral drug called cabotegravir for preventing the human immunodeficiency virus (HIV). Sahpra said cabotegravir, referred to as CAB-LA/CAB, is a long-acting HIV pre-exposure prophylactic – which means the drug remains active in the body for a long period. The approval comes at a time when KZN Health MEC Nomagugu Simelane is urging the public to be careful this festive season and practice safe sex by using condoms. “Don’t let the happiness overtake you until you do things you will regret like getting pregnant, impregnating and contracting sexually transmitted diseases,” said Simelane. Sahpra said randomised controlled trials had shown that CAB-LA, which could be administered once every two months, was safe and highly effective among cisgender women, cisgender men who have…

To say that it was a nail-biting contest would be an understatement. Tension was palpable the moment the ANC delegates descended on Nasrec for the quintennial pilgrimage of the ANC. The stomach-churning tension was to be expected since it had replayed itself at several provincial leadership contests. Blood pressures were high on both sides of the factional divide. Delegates turned to songs as a way of masking their worst fears. Those supporting Dr Zweli Mkhize could not bear the thought of another five-year term for Cyril Ramaphosa. If truth be told, it is doubtful Ramaphosa will finish the term, not with the Phala Phala scandal hanging over his head. Globally, Ramaphosa is finished goods. He is in no position to lecture anyone about political morality. Under his leadership, it will…

SuperSport United coach Gavin Hunt has vowed to challenge the mentality of his players ahead of the unusual resumption of the Premiership. For the first time, domestic football will continue on through the festive period as local action returns next Friday, following the conclusion of the World Cup. Matsatsantsa, although with experienced campaigners in their squad, have handed ample opportunities to young players over the years, and this season has been no different as potential future stars will be grilled by hardships of this unique season. Hunt has admitted that he and his team will have to go through unfamiliar waters during this time, but has reaffirmed the importance of his group having the right mental state. “It’s all about the mentality at this point because this is a different…

Supporters packed a square in central Paris on Monday to give a rousing welcome to the French football squad despite their loss to Argentina in a nail-biting World Cup final. Fans filled the Place de la Concorde in central Paris to welcome the team, who were driven straight to the square from the airport after touching down from Qatar. They appeared on the balcony of the Crillon Hotel overlooking the square to a rousing welcome. Despite their disappointment, all 24 French players – including striker Kylian Mbappe whose hat trick failed to bring France glory – appeared on the balcony in regal style to acknowledge the applause. “Frankly, it’s magnificent, it warms the heart. It’s a great pleasure to see that we were able to make so many French people…

England’s 3-0 Test series whitewash over Pakistan will take a while to sink in, captain Ben Stokes said yesterday, calling the result “pretty special”. The tourists wrapped up the third Test and the series in Karachi by effortlessly knocking off the 55 runs needed for victory, taking the match by eight wickets to go with wins by 74 runs and 26 runs in Rawalpindi and Multan. “It won’t really sink in until we get home or in the new year,” Stokes said after securing what was only England’s second series whitewash in the sub-continent, following a similar result in Sri Lanka in 2018. “I know it’s a cliched thing, but being out in the sub-continent is one of the hardest places to do it. I understand, and we understand, what…

INVESTORS have remained bullish about the potential returns on their investments in the South African economy over the next five years, even amid a climate of global economic uncertainty. However, government bonds and cash have shrunk to become less attractive to investors over the past six months, due to their vulnerability to increasing interest rates. The Schroders Global Investor Study (GIS) 2022 released yesterday, showed that South African investors expect to realise higher returns over the next five years compared to what was achieved in the preceding years. The study, conducted online between February and April, this year surveyed a total of 23 950 investors from 33 locations globally, spanning countries across Europe, Asia, the Americas and more. Schroders research defines people as those who will be investing at least…

FOOD prices are likely to remain volatile in South Africa at least during the first quarter of next year, says Thabile Nkunjana, an agricultural economist for Agro-Food Chains in the Markets and Economic Research Division of the National Agricultural Marketing Council. South African consumers, this year, have been faced with high food prices and the escalating cost of living, leaving them squeezed at the shopping tills and looking for bargains. He said in an interview that in November, consumer inflation in South Africa decreased to 7.4% but remained extremely high at 12.8% for food, 8.3% for electricity, and 25.3% for fuel. “Fortunately, if it materialises, the cost of petrol should decrease noticeably at the start of 2023, which will assist to reduce the pressure caused by rising living expenses for…

The drama-filled reality series Big Brother Titans returns to DStv’s screens on January 15, 2023. While the season will bring the action and intense moments the series is known for, viewers will not be able to see “Shower Hour” this season. The channel has cut that portion of the show and won’t be airing nude scenes. BB Mzanzi and BB Naija will team up as hosts. This special edition of the Big Brother franchise will feature selected housemates from South Africa and Nigeria in one house, playing the game for the prize of R2 million. Executive head of programming for M-Net Channels, Nomsa Philiso, said the Big Brother Titans edition will run until April and the winner will take home a cash prize and title. Philiso said: “We are bringing…

THE disciplinary proceedings against the ANC MPs who broke rank with the party and voted for adoption of the Section 89 panel on Phala Phala will not be withdrawn. That’s according to newly elected secretary-general Fikile Mbalula when he addressed the media in his first press briefing in the position on Monday night. Mbalula said the defiance by the MPs in Parliament a week ago had been referred to the party’s disciplinary committee. “It is a straightforward disciplinary issue. The national executive committee (NEC) was briefed about that matter, and that is where it stands and it will not be withdrawn. The disciplinary committee of the ANC will be seized with the matter and it will be finalised as soon as possible,” he said. Co-operative Governance and Traditional Affairs (Cogta)…

For the past five winters, South Africans have been busy making babies, according to a Statistics SA survey. Stats SA said the majority of babies born in South Africa during the five years between 2017 and 2021 were born in March and that this means they were conceived in the deep mid-winter months of June and July. The survey, which was updated on July 31, showed that last year, the second most common month for births was May and January, a departure from the previous trend, where September was the second-highest month. The proportion of births in March and May was also much higher than the pattern seen in previous years, while September showed an uncharacteristic decline in births. At the same time, Stats SA data is clear that if…

NOW he has been elected for the second term to lead the ANC, Cyril Ramaphosa must act. In the first term, one can understand he was exercising his well-known approach to politics of trying to reach consensus. But his party detractors have shown by deed, hook and crook that they are not interested in such politics: they have their knives out to oust him, no matter what. They do not give a hoot about much-vaunted party unity because at every turn, they have sought to undermine his polices. By acting decisively, Ramaphosa cannot be worried and fear that he will accused of dealing with his enemies: these individuals in his bosom are going to destroy him. He must start with the ministers in his Cabinet, who made it clear that…

THE ANC national elective conference has come and gone, and the mighty KwaZulu-Natal (KZN) province which had the biggest number of branch delegates at 877 at the conference failed to make it to the top seven. Dr Zwelini Mkhize and Mdumiseni Ntuli were the two KZN provincial candidates tipped to emerge as the ANC president and the secretary-general, respectively – but when the results were announced on Monday, the country was shocked they failed to win the hearts of the delegates. This is the second time in a row now that the province has come out of the ANC’s national conference empty-handed. During the 2017 conference, KZN was the focal point of the campaign of Nkosazana Dlamini Zuma, but she lost to Cyril Ramaphosa by 179 votes. This time, KZN’s…

Brisbane’s Gabba cricket ground has received one demerit point after the International Cricket Council (ICC) yesterday rated the pitch for the first Test between Australia and South Africa, which ended inside two days, as “below average”. Australia got the six-wicket win in Brisbane in double-quick time, batting marginally better than the Proteas on a perilous, grassy pitch. The visitors were bowled out for 152 in the first innings, and then followed it up with an even worse 99 in the second, with only wicket-keeper Kyle Verreynne notching up a half-century (64). The hosts ended on 218 in their first knock, with again only one batter in Travis Head (92) getting past the 50-run milestone, and the second innings saw a nervy finish as they reached 35/4. South Africa captain Dean…

Thousands of Argentines began massing in the capital from dawn yesterday, preparing to shower their World Cup heroes, led by Lionel Messi, with adulation. The new world champions were due to head to the iconic Obelisk monument in central Buenos Aires in an open-top bus parade at midday local time yesterday, the Argentine Football Association (AFA) said on Twitter. And they were given a taste of what was to come when they returned home from Qatar in the early hours of yesterday morning when tens of thousands of people lined the route from the Ezeiza international airport, where they landed at 2.40am, to the AFA training complex a short distance away. “Good morning,” wrote Messi on his social media accounts, alongside a picture of him lying in bed hugging the…

Willie Engelbrecht likes to get “personal” with every carry, tackle and clean-out he makes on a rugby field. You can see it in the Stormers loose forward’s play every weekend, but Friday’s United Rugby Championship URC) clash against the Bulls at Cape Town Stadium (7.30pm kick-off) is even more personal for him. Engelbrecht hails from Pretoria, attending Hoërskool Die Wilgers, which is about 11km away from Loftus Versfeld. He was also at the University of Pretoria, but never played provincial rugby for the Bulls at any level. He represented the Valke and Limpopo Blue Bulls in his youth, and then Limpopo as a senior before making his name at the Pumas, whom he led to the last Currie Cup title. Now he has joined the Stormers on a full-time basis…