Innholdsfortegnelse for 2023-03-22 i Star

TRANSACTION Capital’s share price continued to dive on Monday, falling to an intraday low of 12%, after it said core earnings per share (eps) from continuing operations might drop by up to 46% for the half year ending March 31, this year. On Monday, the shares traded at a low of R10.10 closing the day 7.39% lower at R10.65. and have decreased by 69.04% in the past six months, with the market capitalisation now down to R8.7 billion. Transaction Capital’s share price started dropping last week, wiping billions off its value, following the company releasing a trading statement highlighting problems in the taxi-lending business, SA Taxi. At the time, it warned core earnings per share for the six months to March 31 were expected to fall by more than 20%,…

THE HIGH COURT Gauteng Division on Monday began the case brought in by the United Democratic Movement (UDM) and other political and civic organisations, which argues the government and power utility Eskom, has violated basic human rights by implementing load shedding that has knocked critical areas of the economy such as hospitals. The matter, set to be heard from Monday to Thursday this week, was adjourned to Wednesday. Advocate Bruce Dyke, representing ActionSA, said the plea from ActionSA and other organisations hinged around the provision of electricity for 85 police stations, 93 hospitals and 23 000 schools badly affected by loadshedding when the lights were switched off. “The Ministry of Health has actually acknowledged that load shedding has impacted public hospitals,” Dyke told the court presided over by Justice…

THIS WEEKEND’S Black Sea grain deal will benefit all wheat and vegetable importing countries and users, as it would result in downward pressure on prices, says Agricultural Business Chamber (Agbiz) chief economist Wandile Sihlobo. He said South Africa was one of the wheat importers that stood to benefit from softer global wheat prices. “Moreover, the animal feed industry will also benefit from general downward pressure on grain prices, which have been elevated in the past year, and added price pressures to businesses. “Ultimately, the events of this past weekend are positive for global food prices, notwithstanding the ongoing uncertainty about what happens after the end of the current extension. “We think it will be in Russia’s interest to extend the deal further when the current term expires, given that the…

Against the backdrop of Human Rights Day, previously known as Sharpeville Day, a commemoration of the Sharpeville massacre, the South African State Theatre (SAST) is celebrating the life of Oliver Reginald Tambo in a thought-provoking new theatre production titled Sikhahlel’u OR. On March 21, 1960, police officers opened fire on a group of people peacefully protesting against oppressive pass laws, leaving 69 dead and 180 injured. The praise poem Sikhahlel’u OR, by renowned poet and writer Mongane Wally Serote, is being adapted into a stage play which will debut at the SAST this week. Directed by Ntshieng Mokgoro and featuring Ntsika Ngxanga as the music director, the production stars Harriet Manamela, Thokozani Mthiyane and Thabo Ramaine. Sikhahlel’u OR chronicles the life and times of OR Tambo, a human rights activist…

Obesity has become the number one health hazard in South Africa. These are the words of Dr Anushka Reddy, founder of Medi-Sculpt and president of the SA Association of Cosmetic Doctors (SAACD). Speaking to The Star in a recent interview, Reddy commended the US for its bold move in highlighting obesity as a pandemic after this year’s World Obesity Day, which was observed on March 4. South Africa has become one of the countries on the African continent worst affected by obesity. According to the latest figures, obesity is a global public health challenge and a significant health hazard in South Africa, with half of all South Africans considered to be either overweight or obese, with effects that lead them to an increased risk of heart disease, Type 2 diabetes,…

Cyclone Freddy is one of the most powerful tropical cyclones documented, as well as one of the deadliest in Africa in years. It has created unimaginable devastation in Mozambique, Malawi and Madagascar, killing more than 500 people, according to Reuters, including women and children, and displacing over 20 000 households. Malawi has suffered the brunt of the storm, with 438 killed, according to international reports. The UN World Food Programme (WFP) said it was providing immediate lifesaving food assistance by distributing corn-soya blend, a partially pre-cooked fortified food consumed as porridge, to displaced people in Malawi. Following Cyclone Freddy, the longest and strongest tropical cyclone on record in the southern hemisphere, that damaged thousands of homes, roads, and telecoms infrastructures, millions more people desperately require clean water, shelter and food.…

The founder of Mzansi Craft Wine was inspired to start a winery by her love of bubbles and her desire to make a significant difference in people’s lives. Kwanele Nyawo, 36, has been a wine enthusiast since she was a child. Driven by passion, Nyawo founded Khulu Fine Wine in 2021. She said it would not have been possible without the help of her partner. “At first, I didn’t know how my dream was ever going to come to life, but my partner also played a major role in the development of our business. “Over the years, I have visited a number of wine estates, and that spiked the desire in me to want to have my own wine label. “Ever since I ventured into this business, my love for…

Coach Hugo Broos has a good feeling about Bafana Bafana as they prepare for back-to-back 2023 Africa Cup of Nations qualifiers against Liberia. The 70-year-old Belgian was appointed Bafana coach in May 2021, and almost two years later has seen the squad grow. The national team suffered one major setback early during his tenure after they failed to qualify for the 2022 World Cup. However, along the way, and against great odds, Bafana had a few excellent wins, including one at home over Ghana, the four-time African champions. In the return fixture (November 2021), the side went down to Ghana in the most controversial circumstances, and that cost the team a berth in the final qualifying round. With it the team’s Qatar World Cup hopes evaporated in the Accra air.…

It’s been a dreadful period for the Bulls over the last few months, but they will have two opportunities to get back on track this weekend and will hope that their fortunes change for the better. Edgar Marutlulle’s Blue Bulls Currie Cup team will lock horns with the Free State Cheetahs on Friday in Bloemfontein, while Jake White’s United Rugby Championship outfit set sail for Belfast yesterday to face Ulster on Saturday. The Pretoria franchise have lost nine out of their last 11 matches across all competitions, including last week’s 41-33 defeat to Western Province and the previous week’s 63-15 annihilation at the hands of the Pumas – both at Loftus. Blue Bulls Rugby Union president Willem Strauss said in a weekend broadcast message on his social media accounts that…

THE CONTAGION over the US banks collapse continued affecting global markets on Monday, with the South African banks index falling 1.6% to 9 215 index points as investors tried to assess the health of the global banking sector. European bank shares have come under huge selling pressure, notably Credit Suisse, following the collapse of the Silicon Valley Bank and Signature Bank. The market has been sniffing out weaknesses elsewhere after US authorities stepped in to prevent contagion and financial market turbulence, as the sale of the troubled Credit Suisse to rival UBS was not enough to calm markets. Shares for local banks followed their global peers and plunged after the UBS takeover of Credit Suisse wiped out $17.3 billion (R319.3bn) in Credit Suisse AT1 bonds, spurring concerns about…

MERAFE Resources, the junior em- powerment partner in a chrome joint venture with Glencore, said on Monday that attributable ferrochrome production increased marginally by 1%, plagued by electricity supply challenges in the second half of the year. In its results for the year ended December 31, 2022, the group said it produced an attributable 384 000 tons of ferrochrome, from 379 000 tons in the previous year. Merafe reported headline earnings of 56.4 cents a share which compares to 66.8c for 2021, and a 2% decrease in revenue to R7.94 billion. The board declared a final cash dividend of R325 million, nearly 41% lower compared to 2021’s R550m payout. “This amounts to 13c per share before dividend tax and brings the total dividend for the…

While neighbours were able to confirm having heard an explosion in the early hours of Monday following an alleged petrol bomb threat at Nhlanhla “Lux” Dlamini’s, Soweto home, many South Africans have poured cold water on the incident. On Monday, while members of the EFF and other political formations were protesting against load shedding and the high unemployment rate, the leader of the Soweto Parliament, Dlamini, blamed the Red Berets for having targeted his home and those of his neighbours due to his stance against the national shutdown. On social media, Dlamini alleged that two bombs exploded at his home and his neighbour’s windows were damaged in the aftermath. “This was a well-invested operation. It’s not one of those small operations. It also speaks to the quality of leadership in…

A WOMAN who asked the Western Cape High Court to develop the common law to permit unmarried couples in life partnerships to claim maintenance from one another in the event of separation, has lost this leg of her application. The applicant argued the lack of legal recourse for life partners to claim maintenance from one another following the termination of their partnership was constitutionally unacceptable since it discriminated on the basis of marital status and gender, and this constituted unequal protection before the law. Judges Judith Cloete and Hayley Slingers last week said there was no need to develop the common law at this stage. They said they were not persuaded, given the approach adopted by the applicant, that they were in a position to make a properly informed…

PEOPLE across the globe can attest to the power of music to cross all barriers, but new research has revealed that the gift of music can be appreciated and beneficial for other species too. That species is none other than the humble dairy cow. According to a recent study by the University of Pretoria (UP), playing soothing classical music to dairy cows has been proven to not only lower their stress levels but also increase their milk production. The findings, published in the journal Domestic Animal Endocrinology, were the result of research by Lize-Mari Erasmus, a former member of UP’s Camerata choir, who has a Master of Science degree in Agriculture specialising in Animal Science. Erasmus’s studies allowed her to combine her two passions, music and animals. Her research is…

As Muslims await the sighting of the new moon that will herald the beginning of Ramadaan, it is important to remember the essence of the blessed month. To Muslims no month is more spiritual, pleasing and peaceful than Ramadaan, mostly because Muslims are generally more nonmaterialistic and unworldly during Ramadaan. Ramadaan is not only a month to stay away from food, drink, smoking and sexual relationship from early dawn to sunset; it is also a month to recognise the hunger and thirst felt by the less privileged human beings. True worship during Ramadaan is not satisfied just by breaking fasts on savouries and sumptuous meals but by growing spiritually and becoming closer to Almighty. May this Ramadaan remove the fog and open the path of self-control, promoting good and forbidding…

Heinrich Klassen’s magnificent form is because of the consistent backing he has received in the One-Day International format. Klaasen scored a magnificent century and led South Africa to a four-wicket victory in the third and final ODI against the West Indies in Potchefstroom yesterday, which squared the series 1-1. It took him only 30 balls to get to his 50, but only 24 balls for his second to reach a 54-ball hundred, the second of his career, and he finished on 119 not out off just 61 balls, with 15 fours and five sixes. Asked if he felt any different coming into this game at the JB Marks Oval, Klaasen replied: “Not at all. I just think this is the first time there’s a little more consistency of me playing.…

Imagine waking up to the news that your successor has been appointed before your bosses even told you about it … That was most likely the situation with All Blacks head coach Ian Foster after the New Zealand Rugby Union announced yesterday that Crusaders mentor Scott Robertson would replace him after the Rugby World Cup in France later this year. Foster has had a mixed bag of results so far in his tenure and was apparently on the brink of being fired last year. But there’s no doubt, after his success with the Crusaders in Super Rugby, that Robertson is the right man for the job. To be honest, he probably should have been appointed after the 2019 World Cup, when Steve Hansen left the post. He was the outstanding…

The Stormers are keeping their Springbok trump cards close to their chests ahead of a monster United Rugby Championship (URC) clash against Leinster in Dublin on Friday (9.35pm kick-off). Although one can deduce that Boks like captain Steven Kitshoff and Frans Malherbe (props), utility back Damian Willemse and lock Marvin Orie have travelled with the defending URC champions to Ireland, the Cape franchise are trying to keep their involvement in this specific game at the RDS Arena a secret. No squad was announced before their departure on Sunday, and they also did not make the names available this week. Even forwards coach Rito Hlungwani could not divulge whether the Springboks are indeed in camp, although he alluded to the fact that it’s very difficult to lie, with a big smile…

Police have arrested at least 87 people for public violence-related offences ECONOMIC activity ground to a halt in South Africa on Monday as businesses in major centres closed their doors and the logistics industry was disrupted in response to the national shutdown. The shutdown, which was called for by the EFF, saw thousands of people taking to the streets to protest against crippling power cuts, the rising cost of living, the high unemployment rate, and crime, among other socio-economic concerns. At least 87 people were arrested for public violence-related offences in the nationwide anti-government protests that began before midnight on Sunday. In his weekly newsletter on Monday, President Cyril Ramaphosa reiterated the right of any person or organisation to protest, but said no one should be forced, threatened or intimidated…

SHAREHOLDER sentiment prevails as RCL Foods battles consumer price inflation, strike action and rallies in global agricultural commodity and energy prices. RCL Foods is accusing Breede Coalitions of abusing and profiteering from appraisal rights clauses under the Companies Act stipulations following the company’s repurchase of R2.2 million worth of shares held by the minority shareholder. RCL Foods is a leading local food manufacturer selling products such as chicken, dog food and maize meal. The dispute arose subsequent to the group unwinding its existing black economic transaction and the repurchasing of shares. Earlier this month, RCL Foods chief finance officer, Rob Field, said the company was not declaring a dividend in the interim period for the year ended December 2022 with the goal to to keep preserving capital. The company,…

Amanda Black is one of those rare gems in South African music that commands your attention every time she releases new music. After a brief break, the Afro-pop star is back, with a new single, Nguwe, ahead of her upcoming fourth studio album. The single sees the 29-year-old back at her best as she showcases her signature Afro-pop sound, with a blend of R&B and pop. “So much is going wrong,” she sings with a soothing melody. “But so much is going right. Sometimes that’s clouded, and I know it’s wrong to think like this. Sometimes I’m clouded that I can’t see. “I know I got a lot on my mind. And I hope one day I’m going to get it right. I know you got a lot on your…

DESPITE many describing the national shutdown on Monday as a success, more than 500 people were arrested for various criminal activities. The day, initially organised by the EFF but later joined by political leaders of different formations, including the PAC, APC, Land Party, ATM, Areta and Saftu, was led by the Red Berets. Demonstrations were held in several cities across the country, with thousands who took to the streets calling for President Cyril Ramaphosa to step down and for an end to load shedding. There was minimal violence, but in some parts of the country, especially in the Pretoria CBD, the economy took a knock, with about 90% of businesses closing down, with some fearing that their shops would be looted. In some areas, it was business as usual, with…

Even though it has been close to 30 years since laws perpetuating racial discrimination and racism based on colour were abolished, extensive research continues to point towards the reality that people in South Africa are becoming more racist. Dr Gregory Houston, chief research specialist with the Human Sciences Research Council (HSRC), speaking at a one-day dialogue session on Race and Racism in Post-apartheid South Africa held at the Ditsong Cultural Museum in Pretoria last week, said they wanted to get more people to participate and talk about the issue of racism. Houston said this was because they discovered, through research, that although people were becoming more “race conscious” 30 years into democracy, many people were, in fact, becoming more racist. He said this could be evidenced by the repeated incidents…

Five workers turned to the Labour Court to complain about unfair discrimination after they had a peek at a white colleague’s payslip and saw that she earned more than them. The workers, employed by Makro as merchandise controllers, said they saw the payslip after their colleague, who worked in the same division, left it on the printer by mistake. They were bitterly unhappy when they saw what she earned. They felt that while she performed the same tasks as them, she simply earned more because she was white. They took their complaints of discrimination to management and raised a grievance over salary disparities that were allegedly based on race. Management denied that the disparities were based on race. It held a meeting with the workers to discuss the alleged disparities…

Amid protest action and the commemoration of Human Rights Day, the return of the hit, Marabastad: The Musical, to the State Theatre in Pretoria makes for some timely nostalgia. With a storyline set in the poignant eras of the 1940s and 1970s and hidden in the annals of Tshwane and South Africa’s historiography, this stage production captures the country’s effervescent era of riots and the vibrancy of one of Pretoria’s most famous slums. Written and directed by Marlon Khoza and choreographed by Thokozani Zits Maseko, Marabastad: The Musical, is an enthralling production that highlights and brings to the fore historic events from the slums of Marabastad, near the city centre of Pretoria, in the 1940s. Khoza said the inspiration behind this stage production was ignited by a short-lived clash in…

Djimon Hounsou feels “cheated” by Hollywood. The 58-year-old actor, known for his role as Cinqué in the Steven Spielberg film Amistad, as well as his multiple appearances in the Marvel Cinematic Universe, missed out twice on an Academy Award and claimed that he is still struggling to make money. He told The Guardian: “I felt seriously cheated. Today, we talk so much about the Oscars being so white, but I remember there was a time where I had no support at all. If my movies had come out today, I definitely would have gotten an Oscar.” The star has managed to garner various accolades throughout his career, including two Black Reel Awards and an NAACP Image Award, but insisted there were others better off than him despite having not won…

Ingredients For the Homemade Ricotta: 2l full cream milk 30ml white wine vinegar 5ml salt For the Tartlets: 400g puff pastry 500ml homemade ricotta 1 small clove of garlic, crushed 15ml thyme, finely chopped Salt and pepper, to taste 4-6 fresh figs, cut into quarters 30ml walnuts, roasted and roughly chopped Honey, for drizzling Method For the Homemade Ricotta: In a medium size saucepan, heat the milk over medium heat until simmering. Be careful not to let the milk boil and bubble over. Once gently simmering, add the vinegar and gently stir until the milk starts to curdle. Strain the mixture through a muslin cloth and allow to cool. For non-wastage, keep the leftover whey from the ricotta to add to soups or broths for extra creaminess. It…

The Lions will land in Italy today and travel to Treviso to face Benetton with what can only be described as their full-strength squad. The Joburgers return to United Rugby Championship commitments on Saturday at the Stadio di Monigo, and one suspects that both the coaches and players will be thankful for the time away. The team’s structures have come under heavy scrutiny in recent weeks, with reports alleging a litany of problems and discontent between the various strata of the union. Players are said to have lost faith in the coaches, with unhappiness also directed at upper management, while there are also reports that the coaching staff have also been at odds with their employers. Whether there is any truth to all of it, there is an argument to…

Ending last season with a memorable victory over Kirani James has inspired Wayde van Niekerk to push even harder for his ultimate goal: breaking the 43-second barrier in the 400m. The Olympic gold medalist from the 2016 Rio Games has had a difficult few years, but appeared to be getting back to his best in 2022. He reached the 400m final at the world championships in Eugene, Oregon – having missed out on the decider at the Tokyo Olympics – and despite not clinching a medal, the South African star finished fifth in a time of 44.97 seconds. But the best moment of 2022 came in September at the Gala dei Castelli event in Switzerland, where Van Niekerk posted a season’s best time of 44.33 and beat Grenada’s James in…