Innholdsfortegnelse for 2023-11-14 i Star

ALTRON’S share price increased by 6.06% to close at R8.75 on the JSE yesterday, even though group headline earnings fell by more than 100% to a headline loss per share of 63 cents, following significant restructuring write-downs. The interim dividend, however, was up 56% to 25c per share, supported by an increase in the dividend payout ratio from at least 40% to at least 50% of headline earnings from continuing operations. “We are in the early phases of our journey, however, the successful profit improvement strategies in Altron Systems Integration and Netstar, with focused execution on our growth levers, delivered pleasing results,” said the CE Werner Kapp. He said their aim was to be the leading platform and IT Services business in their markets. The operating loss before capital…

CONSUMERS in South Africa are under immense pressure with the cascade of bad news resulting in increased prices at the till. Producer Price Inflation continues to rise. The latest figures show an increase from August’s 4.3% to 5.1% in September. Things are going to keep becoming more expensive, following higher fuel prices, a high lending rate to try to keep inflation in check and a weak, volatile rand. Despite this, retailers have to sell goods and consumers need to buy goods. If the prevailing conditions weren’t enough to threaten consumer loyalty, it is all playing out in an era of more competition than ever before and a consumer that demands a superb shopping experience. While this would appear to spell bad news, the flip side of the coin is that…

SOUTH African companies are in distress as corporate delistings from the JSE and business liquidations continue to rise after the pandemic, and a recession looms for 2024. There is hope for companies, even in dire circumstances, if they can answer two fundamental questions. Question One: Is the company really worth saving and if so, can you build an investment case? It starts with asking if the company is worth rescuing. In South Africa, it seems that the default stance in the business rescue community is to look at how distressed companies can be dismantled and liquidated for the benefit of creditors. But if the company is too important to fail, you have to take a different approach, one that is focused on genuine business turnaround, and then the whole approach…

The first episode of Trevor Noah’s much anticipated podcast, What Now? With Trevor Noah has dropped. And he is clearly off to a good start with Dwayne “The Rock” Johnson as his first guest. In the series’ first episode, Noah and The Rock discuss everything from The Rock’s troubled youth and lifelong struggles with depression, to him listening, understanding and responding to public feedback surrounding the launch of his fund following the Maui fires in Hawaii, where he lived as a child, and if he’d ever consider running for president of the US. “It’s fascinating to speak to the person who was trying to raise money for the Maui wildfires and then experienced the backlash he did in a way that some people completely understood and others didn’t,” Noah said.…

POWER has been fully restored to Joburg Inner City residents after a fire ripped through the Van Beek substation, causing blackouts on Sunday. The fire broke out at the Van Beek substation on Sunday afternoon, causing blackouts for residents in Doornfontein, Jeppestown, the inner city, and the suburbs surrounding the city. City Power spokesperson Isaac Mangena said they were still investigating the cause of the fire. Staff restored the power; a team of experienced technicians and engineers worked quickly through the rain showers to restore most of the power by midnight on Sunday. The rest of the power was restored yesterday after the officials managed to source – and pass after testing – two new transformers and to also replace badly burnt cables at the substation. Mangena said mop-up operations…

IT IS a proven fact that Israel came very close to dropping two nuclear bombs on Gaza, only to be stopped by threats of global intervention. The massive unprecedented naval build-up by the USA near Israel is proof that Armageddon was thwarted at the last minute in October. William Perry, secretary of defence under President Bill Clinton, recently issued a stark warning that a nuclear war could erupt and erase humanity if politicians continue with their fiery rhetoric. The volatile and escalating situation between Russia, the USA, China, India, Pakistan, Iran and Israel cannot be resolved by military force,or political subjugation. Any act of brinkmanship could result in a deadly chain of events that their arrogant leaders will not be able to control and contain. The major powers are…

THE imminent renaming of the City of Tshwane’s Region 7 offices Muniforum to iKosi Mkhambi I, has been praised as a way of strengthening the community’s heritage and promoting the character of the area. This is detailed in a recently approved council report seeking support in the public participation process to rename the Muniforum Building located in Bronkhorstspruit. Among the areas serviced by the office are Ekangala, Ekandustria, Zithobeni and Sokhulumi. The report was presented to council after the local community rejected the name of a political fighter, Ephraim Mogale, initially proposed for renaming the municipal building. The council report from the Economic Development and Spatial Planning Department indicated that the origin of the name Muniforum could not be established in spite of extensive research. “However, there is a…

The 29th SA Music Awards (SAMA29) has revealed its Lifetime Achievement honorees, recognising musicians who have contributed significantly to the growth, improvement and progress of the South African music scene for at least 20 years. This year, the Samas proudly celebrate the lifetime achievements of four remarkable artists, each of whom has left an indelible mark on the South African music landscape. The 2023 Lifetime Achievement Award recipients include Mandoza (posthumous), Pops Mohamed, Gloria Bosman (posthumous), and Ihhashi Elimhlophe. The prestigious awards will be presented on November 18 at the SunBet Arena in Time Square, Menlyn Maine, in partnership with Africa Fest. Mandoza Born Mduduzi Thembinkosi Edmund Tshabalala in 1978, was a charismatic kwaito star who enthralled audiences with much-loved albums like Nkalakatha, Godoba, Tornado, Champion and Phunyuka Bamphethe. In…

Israeli forces reached the gates of Gaza City’s main hospital yesterday, the primary target in their battle to seize control of the northern half of the Gaza Strip, where medics said patients including newborn babies were dying for lack of fuel. Gaza health ministry spokesperson Ashraf Al-Qidra, who was inside Al Shifa hospital, said 32 patients had died in the past three days, including three newborn babies, as a result of the siege of the hospital and the cut-off of its power. At least 650 patients were still inside, desperate to be evacuated to another medical facility by the Red Cross or some other neutral agency. Israel says the hospital sits atop tunnels housing a headquarters for Hamas fighters, who are to blame for its plight for using patients as…

NEW DELHI: Two Indian cities joined New Delhi to become among the world’s top 10 most polluted cities yesterday, with smoke heavy in the air a day after revellers let loose with firecrackers for Diwali, the annual Hindu festival of light. The capital New Delhi had an air quality index (AQI) figure of 407, putting it the “hazardous” category, Swiss group IQAir said. Financial capital Mumbai came in sixth with an AQI of 157, while Kolkata was seventh with an AQI of 154. A thick layer of smog had started to circulate in New Delhi from Sunday night, sending its AQI to an alarming 680. | Reuters…

AECI AIMS TO double the profitability of its core mining and chemicals business by 2026 and become a global top three integrated mining explosives and chemicals solutions provider by 2030. The ambitions were laid out at a recent capital market day, where AECI CE Holger Riemensperger announced a revised strategy, which aims to extract value from its underlying operations. Businesses deemed non-core in the new strategy – Much Asphalt, Animal Health, Schrim, Sans Fibers and Bever- age – would be exited over a period. AECI is a diversified chemicals solutions company employing 7 168 people at more than 100 sites, with a presence in 22 countries. “AECI is more than a business. It is a South African institution. At our core, we enable safe mining operations. “While some synergies…

A STRONGER performance in South Africa and the newly acquired Egyptian operation failed to unshackle Vodacom from the impacts of regional volatility and higher costs of starting up in Ethiopia, and the JSE-listed mobile operator’s headline earnings per share fell 4.2% for the six-month period to September 30. South African companies with operations across Africa such as MTN and MultiChoice among others have been battling regional currency and exchange rate woes. Vodacom, which has operations in countries such as Kenya, Egypt and the Democratic Republic of Congo, yesterday reported that headline earnings per share for the September 2023 interim period had slowed down by 4.2% to 438 cents. Investors in the company on the JSE responded negatively, with the share price shedding 4.04% to close at R103.25 on the…

IN A WORLD grappling with the perils of disinformation, the recent arrest of two members of the Indian wrestling team in New Delhi shed light on the concerning potential of AI-generated images. The two women were arrested after protesting against alleged sexual harassment by the president of India’s national wrestling federation. Afterwards, two photographs of the wrestlers in a police van appeared online – one where they were sombre and the other where they were grinning happily. The manipulated photo of the women smiling (probably created with any of the easily available AI-powered photo editing apps such as FaceApp) was widely circulated on social media by supporters of the wrestling federation president. The incident serves as an omen of a disconcerting future where discerning reality from fiction becomes an increasingly…

THE AFRICAN Continental Free Trade Area (AfCFTA) can break Africa’s colonial legacy of exporting raw materials and importing finished goods, Jean-Louis Ekra, deputy chairperson of the Intra-African Trade Fair (IATF2023) Advisory Council and former President of the African Export-Import Bank (Afreximbank), said as the Trade and Investment Conference of IATF2023 began in Cairo. Ekra said in a statement yesterday that African economies that relied on natural resources and commodities were unsustainable, and this dependence made them vulnerable to adverse trade shocks, liquidity constraints and macroeconomic management challenges. Arguing that the situation needed to be addressed urgently, especially as it had worsened the effects of the Covid-19 pandemic, geopolitical tensions and climate change, he said that “AfCFTA cannot fail, especially given that intra-African trade is estimated at 16%” which was a…

While families are battling to put food on the table, more than R500 000 was allegedly spent on catering for guests aboard President Cyril Ramaphosa’s Inkwazi presidential jet following the funeral of UK Queen Elizabeth II last year. Public Protector Kholeka Gcaleka is now expected to receive a formal request to probe claims of wasteful expenditure over the catering costs. A Sunday newspaper reported that the return flight from London to South Africa cost taxpayers R569 000 or at least R23 708 per person for the maximum 18 passengers allowed on the jet. The 15-seater Boeing 737 aircraft is used to transport the president and is operated by six crew from 21 Squadron of the South African Air Force. Last year, the Presidency was criticised after it emerged that…

From p1 IFP president Velenkosini Hlabisa said the details on the “exorbitant costs” emerges at a time when the country was facing a financial crisis. “It was a trip meant to pay condolences to the family of the queen, but this is not a compelling enough reason to incur such expenses. “We are human beings and this dealt with death and paying tribute, but we have to think about how we are spending taxpayer money, especially when the country is in crisis.” Hlabisa said cautious spending should always be applied. “It is lavish spending like this that makes us wonder why there is not enough money in the Budget to strengthen communities and better people’s lives.” The presidential jet can transport delegations from Waterkloof, in Pretoria, with its altitude and…

The effort and talk by some quarters suggesting an independence referendum for the Western Cape should be held, must not be simply dismissed but vigorously confronted and opposed, because it is very dangerous. If this succeeds – and God forbid the referendum produces a positive result – we are all in trouble. This is because it is no secret that there are proto-nationalists who are underground and are just waiting for a chance to dismember this country on an ethnic/racial basis. Just imagine what will happen if these forces surface on the back of the success of this referendum and start demanding “independence” for themselves all over the country? Chaos would be the result. Indeed, South Africans should not be naive. This issue goes beyond the country, as there are…

The Supreme Court of Appeal will hear arguments today in a case which raises important questions around how courts respond to matters of intimate partner violence, which includes whether a kiss can be construed as consent to sex. The Initiative for Strategic Litigation in Africa is represented by the Centre for Applied Legal Studies in the appeal. In October 2021, the Eastern Cape High Court handed down judgment in an appeal by Loyiso Coko, who had been found guilty of raping his then-partner. Although the complainant had said “no” to sexual intercourse and had cried and tried to push the accused off her, the court found that the accused had not intended to rape her, and instead had mistakenly believed that she had consented. In making this determination, the court…

Recently, the National Bureau of Statistics of China released economic data for the first three quarters, showing that the country’s GDP grew 5.2% year-on-year, making it a leader among the world’s major economies. A number of foreign financial institutions, including Deutsche Bank and JPMorgan Chase, have raised their expectations for China’s economic growth for the whole year, projecting it will exceed 5%. The International Finance Forum released a report which predicts that China will contribute as much as 32% to global economic growth this year. In spite the sluggish world economic recovery and high global inflation, China’s economy has demonstrated strong resilience, great potential and enormous vitality, and remains a leader and main engine of global economic growth. Its macroeconomic policies are prudent and efficient. From the start of the…

LUCKNOW: Indian officials said yesterday they hoped to free all 40 workers who have been trapped for 35 hours in a collapsed tunnel in the Himalayan state of Uttarakhand after rescuers managed to establish contact with those inside. Excavators and other heavy machinery bore through the debris to carve out a path to reach the workers and prepare an escape passage, local media channels showed. The tunnel, which was being built on a national highway that is part of a Hindu pilgrimage route, caved on Sunday, officials said. Rescuers managed to make contact with them and delivered oxygen through a compression pipe and supplied food. Cause of the accident was not yet known. | Reuters…

Beirut: At least eight pro-Iran fighters were killed in US strikes on eastern Syria, the Syrian Observatory for Human Rights said war monitor said yesterday, a day after Washington carried out raids in response to attacks on US forces late on Sunday near the Iraqi border. It was the third time in less than three weeks that the US military has targeted locations in Syria it said were tied to Iran, which supports various armed groups that the US blames for a spike in attacks on its forces in the Middle East. The US says the strikes are aimed at deterring attacks on US forces in Iraq and Syria. | AFP…

The Fifa break is set to be a double-edged sword for Kaizer Chiefs and Orlando Pirates, after the Soweto derby. At a sold-out FNB Stadium on Saturday, Pirates beat Chiefs 1-0 – courtesy of Evidence Makgopa’s goal – to end their five-game losing streak in league matches in the derby. It was a performance that laid bare the differences between Chiefs and Pirates players’ attitude before and during the match. Chiefs were at their worst. They walked onto the pitch with swagger and full of jokes, before fighting with each other during the match and reacting negatively to situations. It was a poor sight to behold and highlighted some of the club’s struggles in the past eight years that have seen players and coaches come and go without winning silverware.…

Clarification about AgriBEE requirements for agricultural exports issued THE DEPARTMENT of Agriculture, Land Reform and Rural Development (Dalrrd) would continue to ensure all farmers enjoy access to EU and UK markets, according to the department’s Minister, Thoko Didiza. Yesterday, the government issued a statement in which it said it was clarifying incorrect views about the AgriBEE requirements for agricultural exports to the EU and UK. It said the department had recently published two gazettes outlining the procedure for exports from the Southern African Customs Union and Mozambique to the EU and the UK, respectively, to take advantage of preferential tariff rate quotas for certain agricultural and agro-processed products. “The weekend newspapers misrepresented the government’s message about the procedure and annual application for export permits to the EU and UK markets,”…

IN THE BEGINNING, it was a machine that could fit in a room. It was followed by a machine that required a desk to operate and thereafter, only a hand was required. Now, you might just need something to wear to have the same computing power that required a room many years ago. This is the thought that crossed my mind as I was thinking about the significance of the product, Ai Pin, that was launched last week by a couple who formerly worked at Apple, Bethany Bongiorno and Imran Chaudhri. If the founders of Humane, the company behind the AI device, succeed in getting consumers to buy into their product, they would have pioneered a significant shift in the history of computing industry. Before we get into the significance…

Gauteng police have clarified that there was no bomb threat at the Loftus Stadium in Pretoria during the African Football League final between Mamelodi Sundowns and Wydad Casablanca, after a viral video saw a man being escorted out of the stadium by police. A video of a person who claimed to be a foreign national went viral moments after the Pretoria club lifted the inaugural AFL Cup, bagging a whopping $4 million (R74 million). In the video, the man was seen being whisked away by uniformed police officers, and circulating voice notes expressed anti-foreigner sentiment, saying “take him away” and “these people want to kill us; we are not safe; they want to bomb us”. The AFL Cup final was attended by a sold-out crowd, including CAF president Patrice Motsepe…

Salutation to his Divine Grace Dr Engenas Joseph Lekganyane. I thought it prudent to put etiquette to the side and put pen to paper. I would like record the debt I owe the Unisa council who took the decision to confer the honorary degree on you in recognition of your “outstanding achievements and globally impactful societal contributions to peace, social cohesion, social capital, as well as successful and resilient African- imitated institutions in the 21st century”. The Unisa council has laid upon you a heavy burden of responsibility, which you accepted with gratitude and humility, which humility is a virtue to be imitated. To borrow language from Professor Sizwe Mabizela, you have graduated “at the time when our country is at a crossroad … when our nation is engulfed with…

LAST Wednesday, Deputy President Paul Mashatile appeared before Parliament to answer questions about the criminal justice system. He was evasive, as usual. Asked if he’s happy with Bheki Cele’s performance as Minister of Police, he said he’s satisfied. In other words, he is saying Cele is doing well in terms of combating crime. I’m sure Mashatile lives under a rock. In South Africa, crime has spiralled out of control. Criminals are doing as they please. Even the police are afraid of them. The truth is: Cele’s performance is lukewarm. Recently, Transport Minister Sindisiwe Chukunga was robbed and her bodyguards’ guns stolen. That’s how bold criminals have become. Last week, I heard about four robberies, one in Kagiso. The number of robberies could be more. This shows our country has become…

A GOOD friend was coincidentally at the Randburg Magistrate’s Court during the recent shooting on the steps of the court when two State witnesses were shot dead in an obvious hit. They were to have given evidence for the State in the trial of four policemen charged with murder. It is unconscionable that gangsters can be found – and presumably be paid – to take out witnesses vital to the prosecution of police officers. The questions must arise: Were the assassins merely paid gangsters? Were they friends of the accused? Or were they policemen? Whatever the case, this murder marks a shocking failure of the Rule of Law. My friend was at the court to apply for a protection order against an American visitor, working in SA and previously…

South Africa is under siege by illicit drug traffickers, with the high rate of substance abuse impacting on the well-being of the population, the economy, and the general outlook of the country. Organisations fighting to keep the streets clean have criticised a perceived less-than-effective legal system. According to the law, anyone found in possession of dependence-producing drugs is subject to a fine set by the court, or imprisonment, or both. Lawyers Simon Dippenaar and Associates say that anyone found in possession of dangerous dependence-producing drugs such as cocaine can be jailed for up to 15 years. “You may think possession means having the drugs on your person. However, that is not how the law sees it.” The Drugs and Drug Trafficking Act of 1992 says, in part: “If in the…

A FORMER senior technician at struggling power utility, Eskom, Themba Teddy Mpika, appeared in the Middelburg Regional Court in Mpumalanga facing allegations of defrauding the state-owned entity. The 48-year-old was arrested by the Directorate for Priority Crime Investigation (the Hawks) on charges of fraud and theft. “It is alleged that between 2016 and 2019, he was employed by Eskom as a senior technician, stationed at Camden power station,” Hawks spokesperson in Mpumalanga, Warrant Officer Thandi Tshabalala, said. “While working for Eskom, the accused, as a sole director of the company called My Teddy Enterprise, applied for a tender at Eskom, and it was awarded to him. “In the process, the accused (Mpika) failed to declare that he is employed by Eskom. He further provided misleading information on the company’s integrity…

STROKE is the second most common cause of death after HIV/Aids in South Africa, and it is a significant cause of morbidity, with an estimated 150 000 people experiencing a stroke each year. This contributes to more than 560 000 stroke-related disability- adjusted years, said health cover provider Affinity Health. They also said there had been a noticeable rise in strokes in young adults. “When we think of strokes, we often associate them with older adults. However, strokes can happen at any age, and they’re not as rare in young adults as you might think,” said CEO Murray Hewlett. “A staggering 15% of strokes occur in those aged 18-50,” he added, explaining that a stroke was like a traffic jam in the brain, which occurs when something blocks or bursts…

As THE holiday season draws near, Charnel Hattingh, group head of marketing and communications at Fidelity, urges caution when visiting malls and shopping centres. She said while most of the time, consumers were hijacked in their driveways after being followed home from malls, mall security staff would be extremely vigilant during that period to look out for pickpockets and other suspicious activity. “Criminals are aware these shoppers have a car full of newly-purchased items and are generally easy, distracted targets.” She advised shoppers to keep an eye out for any suspicious vehicles when exiting the shopping centre. “If you suspect you are being followed, drive immediately to your nearest police station or security provider’s guard house,” she adds. Hattingh also reminded motorists to bear in mind hijacking safety tips, such…

The recent incident at a private student residence where a suspect who is a student at UWC stabbed his wife, a Cape Peninsula University of Technology student, 11 times serves as a stark reminder of the pervasiveness of gender-based violence in South Africa. This incident, which could have ended tragically if not for the intervention of bystanders, highlights the urgent need to address the root causes of this societal scourge. Intimate partner violence (IPV) is a pandemic in South Africa. According to a 2021 study by the South African Medical Research Council, one in three women experience physical or sexual violence from a partner in their lifetime. This alarming statistic is a testament to the deep-rooted patriarchal norms that permeate our society, norms that normalise male dominance and control over…

BENI: Islamist militants tied up at least 19 villagers and killed them with machetes and other weapons in a raid in eastern Democratic Republic of Congo on Sunday, a civil society leader said. Other villagers fled but may have drowned as they tried to cross the Lamia river into Uganda, Maurice Mabele Musaidi said. “There are still people missing,” he said. Congo’s army said the attack in Beni territory’s Watalinga chiefdom was carried out by the Allied Democratic Forces (ADF), an armed group based in eastern Congo that has pledged allegiance to Islamic State.…

Berlin: Greta Thunberg came under fire over her pro-Palestinian stance yesterday in Germany, where the local chapter of climate body Fridays for Future had distanced itself from her views on the Israel-Hamas war. Thunberg had urged “ceasefire now” at a climate protest on Sunday in Amsterdam, before being interrupted by a man who tried to snatch the microphone from her, saying he’d come for the protest. Luisa Neubauer, who heads the German chapter of Fridays for Future, said they would now have to examine “with whom we still have a basis to work based on common values”. | AFP…

Bafana Bafana must not underestimate the lowly ranked nations if they are going to start the 2026 World Cup qualifiers on a high note, says coach Hugo Broos. Bafana will start their bid to qualify for the global event in Canada, Mexico, and the US with matches at home to Benin on Saturday and away to Rwanda on Tuesday. And considering that they are ranked higher (64th) than both Benin (93rd) and Rwanda (142nd) in the world, they are expected to bag three points from both matches on paper. But Bafana’s performances against lower ranked teams have been unconvincing in recent months. They’ve struggled to put them to the sword, having to settle instead for dull draws. However, they’ve been menacing against some mighty teams in Africa. They beat the…