Innholdsfortegnelse for 2023-12-06 i Star

THE RAND retreated to its lowest in two weeks yesterday and stocks on the JSE extended losses, in spite of improving metals prices, after economic growth in South Africa surprised on the downside in the third quarter of 2023. Statistics South Africa (StatsSA) said yesterday that gross domestic product (GDP) for the three months ended September fell into contraction, dipping by 0.2% in the third quarter compared to the downwardly revised 0.5% growth in the second quarter. StatsSA said economic growth was being hobbled by the deepening energy crisis and the logistics bottlenecks as agriculture, manufacturing and construction were the most impacted sectors. PPS Investments portfolio manager Reza Hendrickse said although growth continued to be unimpressive, it had managed to exceed expectations in most quarters during recent years. “Going forward,…

DOVES Group has concluded an underwriting partnership with African Unity Life, a collaboration that aims to signal the start of revitalisation following the challenges posed by the curatorship of 3Sixty Life. Doves Group runs a national network with more than 160 branches in all nine provinces, providing insurance, funeral services, and related products. African Unity Life is a life insurer and financial services provider insuring more than three million lives. “This partnership with African Unity Life is not just a business strategy; it is a leap into a future where we see our company not only recovering from the loss of 3Sixty Life, but also thriving,” Doves Group executive director Minki Rasenyalo said in a statement yesterday. The focus going forward would be on selling both short and long-term…

THE AGRICULTURAL sector gross value added for third quarter surprised on the negative as it declined nearly 10%. After an encouraging recovery of 2.8% quarter-on-quarter in the second quarter, South Africa’s agricultural gross value added contracted by 9.6% in the third quarter. Paul Makube, senior agricultural economist, FNB Commercial, said South Africa’s overall GDP growth fell short of expectations and contracted 0.2% in the third quarter, from a 0.5% rise in the second quarter. Makube said despite some of the earlier indicators pointing to a potential upswing in Q3 agriculture GDP, the sector surprised on the downside with a biggest and sharp contraction of 9.6%. “This was underpinned by a slowdown in economic activity for field crops, animal products, and horticulture products,” Makube said. He said however, the bulk of…

THE UN SECRETARY-General Antonio Guterres, when meeting President Cyril Ramaphosa, was quick to point out that the UN was so pleased that out of all the countries in the world, SA was the only country that had submitted a plan to the UN Inter- governmental Panel on Climate Change to end the use of coal and fossils fuels. The plans entail closing down half the coal-based power stations initially, starting with 12 000 megawatts and, eventually, all the coal power stations in SA, and repurposing the land for various alternative renewable energy projects. What the UN doesn’t know is that SA is great at making plans and promises, but bad in implementing them. The government is under heavy pressure from all sectors of society who are up in…

SABVEST Capital’s board said yesterday it was sad to advise shareholders that Eric Ellerine (90), who had also founded the Ellerine Holdings furniture retail group that listed in 1969, passed away on Monday.When Sabvest Limited (Sabvest) was listed on the JSE in 1988, Ellerine was the first new material shareholder in Sabvest and the first Family Office investor. Ellerine opened his first store at the age of 16 in Johannesburg’s Cyrildene. The business grew and eventually included other retail brands such as Beares, Dial-a-Bed and Furniture City. In 2007, African Bank Investments bought Ellerines for R10.6 billion. Sabvest said Ellerine had been very supportive of the Sabcap Group over 35 years, including being a co-investor in a number of Sabvest/Sabcap investees. His family entities are together currently one…

South Africa’s socio-economic imbalances, political instability, and constrained economic growth, not to mention the logististical nightmare posed by load shedding, could significantly impair both the pace and scope of innovation. This was according to the latest BCX Digital Innovation Index Report 2023. The report aims to guide businesses by evaluating their innovation strategies and shed light on the dynamic landscape of digital transformation in South Africa. Regulatory hurdles and a lagging alignment between compliance and technological advancement could also severely constrict experimental forays into innovative solutions, the authors of the index said yesterday. Drawing upon data from questions and interviews with senior leaders from 42 institutions, the report delineated the multifaceted challenges and prospects tied to the pursuit of digital innovation. The study classified South African organisations into four…

South African born pop star Tyla recently joined Apple Music’s Zane Lowe to chat about her life-changing song, Water. During the interview, the global sensation also spoke about her new single and album. She took the opportunity to give her South African musician brothers a shout out. Tyla still has everyone vibing to her current Top 10 hit, and just four days ago, she released her new single, Truth or Dare. She told how Water changed her life: “It’s crazy how a song can change your life like this. It’s beautiful. It’s so exciting. I'm so happy that people are loving the sound, coming from home. I’m excited to see where it goes.” Tyla, who has already collaborated with Summer Walker, Travis Scott and Marshmellows, said working with…

CHIEF Justice Raymond Zondo has called on the judiciary to put their heads together to shape the future of the judiciary. He said this should be done by reflecting on some of the mistakes the country as a whole made in the past and to ensure that as we enter the fourth decade of our democracy, we don’t repeat our mistakes. Justice Zondo was speaking at the opening of the judges’ conference, held at Sun City. This is said to be a historical conference, as the last conference was held in 2012. Justice Zondo said what makes this conference different, is that it only consists of members of the judiciary, whereas in the past other stakeholders also attended the conference. He asked that the judiciary during this conference put their…

THE United Association of South Africa (Uasa) turned to the Labour Court in a bid to address health and safety challenges in the mining industry. It asked for a declaratory order to rule against Anglo American Platinum mines (AAP) from removing regulations applicable to its operations from the Mine Health and Safety Act (MHSA) to the Occupational Health and Safety Act (OHSA). Following the recent tragic incident at Impala Platinum mine’s 11 Shaft in Rustenburg, where 12 employees lost their lives in a hoist accident, Uasa, in pursuit of zero harm in the mining industry, believes that the Mine Health and Safety Act (MHSA) is the appropriate legislation to stop injuries in the industry. Anglo American Platinum Mines began restructuring its business between 2016 and 2018 and sold the Rustenburg…

Men’s mental difficulties are sometimes thrown under the rug or overlooked for fear of being perceived as a sign of weakness, especially considering stereotypes that “boys or men don’t cry“. So says Dr Charles Mbekeni, Anglo-American’s South African Health Lead, who emphasises the importance of overcoming outdated beliefs influencing men’s mental health. He adds that males must take the time to reflect, getting to know themselves. as well as take care of themselves. It has also been discovered that failing to address mental health concerns can make men more aggressive, exhibiting indicators of violent behaviour, and abusing substances, perpetuating the cycle as the following generation is exposed to similar activity. “Not only are you more able to take care of your loved ones when you are feeling mentally and emotionally…

APARTHEID Israel continued its genocidal onslaught on Gaza within seconds of the “pause” expiring. It is so disgusting that Western and some Middle Eastern leaders negotiated a genocide to “pause” in Gaza for a few days. A “pause” in the massacring of babies and entire families, in the bombing of hospitals, educational and religious institutions and the ethnic cleansing of over 2.5 million people. A genocide cannot be “paused” like a movie. A genocide has to be stopped. Together with US Secretary of State Anthony Blinken, the Netanyahu regime blamed the resistance movement Hamas for ending the genocidal “pause”. This latest in a long list of lies. As apartheid Israel pursues its bombardment of Gaza, it is exploiting unsupported claims of atrocities to justify its crusade of mass destruction and…

This week, the recently established Border Management Authority (BMA) reported a series of successes in its management of our borders for the current year. The interventions include having intercepted nearly 44 000 people trying to illegally enter South Africa, arrested more than 2 000 for various crimes, and seizing hundreds of stolen vehicles and drugs. The biggest of them all is the reported thwarting of human trafficking of more than 443 Zimbabwean children who had been travelling in 42 buses, allegedly without parents or guardians. This is a shocker of note and a clear sign that for the longest time, our borders have been used to commit crimes willy-nilly due to a lackadaisical approach to border management. One wonders what has been happening before April, before BMA was given the…

BHUBANESWAR: Cyclone Michaung hit the southern India coast yester-day, after torrential rains sent tall waves crashing into coastal towns, submerging roads and killing at least nine people, including a child. The cyclone made landfall on the southern Indian state of Andhra Pradesh near the town of Bapatla, the weather office said, barrelling in with winds of up to 110km/h. Parts of the state are expected to be hit with 200mm of rain over the next 48 hours, the weather office said, and at least 8 000 people have been evacuated. The rains and winds also snapped power lines and uprooted trees, and more than 140 trains and 40 flights were cancelled in Andhra Pradesh. | Reuters…

MANILA: People evacuated buildings in Manila yesterday after an earthquake of magnitude 5.9 struck off the main Luzon island, according to the state seismology agency. There were no reports of casualties and the agency said it did not expect damage, but warned of aftershocks. It recorded the offshore earthquake at magnitude 5.9, with a depth of 79km. Its epicentre was around 130km from the capital. Three people died from a magnitude 7.4 earthquake in the southern Philippines on Saturday. It was followed by more than 2 000 aftershocks that prompted thousands to stay in evacuation centres. A magnitude 6.8 earthquake hit Mindanao on Monday. | Reuters…

SOUTH African private sector business activity flatlined in November, with a cooling of price pressures counteracted by supply chain disruptions due to a port crisis, a survey showed yesterday. The S&P Global South Africa Purchasing Managers’ Index (PMI) rose to 50 points in November from 48.9 points in October. A reading above 50 points shows growth, below 50 points reflects a contraction and 50 points is considered neutral. Both input costs and output charges rose at their softest rates since December 2020 and the cooling of price pressures supported weaker falls in output and new orders, S&P said. However, supply chain disruptions continued in November due to a port crisis and many firms faced longer waits for their inputs, the survey showed. “Downside risk…

SIX OF THE world’s largest dairy companies will soon begin disclosing their methane emission levels as part of a new global alliance launched at the UN climate summit in Dubai yesterday. Livestock is responsible for about 30% of global anthropogenic methane emissions, from sources like manure and cow burps, according to the UN’s Food and Agriculture Organisation. Advocacy groups have said that tackling livestock methane should be a priority at this year’s COP28 summit. The five members of the Dairy Methane Action Alliance – Danone, Bel Group, General Mills, Lactalis USA, Kraft Heinz and Nestlé – will begin reporting their methane emissions by mid-2024 and write methane action plans by the end of that year. Methane is nearly 30 times more potent than carbon dioxide, according to the US Environmental…

AS BUSINESSES plan for 2024, no doubt one of their priorities will be to fill critical roles in their organisations. With the usual spike in resignations towards the end of the year, many, especially those seeking to fill critical IT job vacancies, will be interested in recruitment trends and whether they can use any insights or knowledge to boost their recruitment efforts. They can. But it requires the bravery of shifting their mindset. We are loking down the barrel of an interesting, but dangerous, dilemma. Companies need skilled people and they can’t find them. Skilled people need jobs and they can’t get them. The dilemma needs careful consideration, because there needs to be a viable connection between the two sides. A notable trend in 2023 that will be extrapolated into…

Jacaranda FM and The Radio Awards paid homage to Andrew Pike as he was inducted into the Hall of Fame. Pike joined Jacaranda FM in 1988, helping to build the first studio since SABC independence, and he learned how to manage Outside Broadcasts through trial and error. Remember that King Koil mattress on the billboard where the breakfast team was broadcasting from? That was due to Andrew’s technical genius. Pike also pioneered the first fully digital studio for Jacaranda FM (remote control was very funky in the late ’90s), and the first split advertising broadcast for regional areas in 2001, and was built entirely from scratch. “In every sense, Andrew is part of the DNA and every broadcast element at Jacaranda FM. For 36 years, he has dedicated his career…

ABOUT 200 Mamelodi flood victims, who have been accommodated at Nellmapius community hall for two years, are worried that their hopes of being relocated to the government’s promised land before Christmas Day might not materialise. Their shacks in Mountain View, Mavuso and Willow Farm informal settlements were built close to the riverbanks and washed away by heavy rains in February 2022. They feared having to spend another bleak festive season as homeless people. They were worried even though, last week, the City of Tshwane rolled out a relocation process which is expected to last until the end of December. The victims said they were disappointed the relocation had not started with them, despite a previous government promise that they would be first in line to be moved to the new…

In the face of a declining nation, it is disheartening to witness those who once fought for our freedom now indifferent to the state of our beloved South Africa. Many claim fatigue with politics, expressing confusion about who to vote for or simply opting not to vote. Amid this apathy, two powerful sayings resonate: “We do not inherit the Earth from our ancestors; we borrow it from our children” and the words of Hank Stewart, reminding us that it’s our time, our turn, and if we do nothing, it’s our fault. Consider the courageous figures like Nelson Mandela, Oliver Tambo, Ruth First, who faced adversity to shape our nation. It was in moments like these that true leaders emerged, unyielding in commitment to a better South Africa. Acemoglu and Robinson,…

It’s no secret that South Africans are chewing stones in the tough economic conditions. At 6.9%, South Africa’s inflation rate in 2022 was the highest in 13 years. Food price increases are comparable to the peak in 2009, at the height of the international recession. Pensioners are at the mercy of Government Employees Pension Fund (GEPF) officials who look after themselves first with pensioners’ hard-earned money, without worrying about 75% of the inflation rate. Earlier in 2023, an annual pension increase of 5.55% was granted to pensioners and beneficiaries with effect April 1. How was the increase calculated? Inflation (consumer price index) over one year to November 30, 2022 was 7.4%. The pension increase granted is 5.55%, which is 75% of the CPI. It is the minimum legal increase that…

JAKARTA: The death toll from Indonesia’s Marapi volcano eruption jumped to 22 yesterday as rescuers found more climbers who had died near the crater, the head of the West Sumatra rescue agency said yesterday, up from 13 earlier in the day. About 200 rescuers will resume search operations today for one further missing climber. The 2 891m high volcano in West Sumatra erupted on Sunday, spewing gray clouds of ash 3km into the sky. Rescue teams were are evacuating the dead bodies from the peak of the volcano. There were 75 climbers on the volcano when it erupted, rescuers said. | Reuters…

PARIS: France raised the risk level of bird flu to “high” from “moderate” yesterday after the detection of new cases of the disease, forcing poultry farms to keep birds indoors to stem the spread of the highly contagious virus. Avian influenza has led to the culling of hundreds of millions birds worldwide. It has been spreading in Europe, including Germany, the Netherlands and Belgium. Bird flu is harmless in food, but its spread is a concern due to the devastation it can cause to flocks, possible trade restrictions and the risk of human transmission. | Reuters…

Mamelodi Sundowns midfielder Sphelele Mkhulise says they are wary of the threat posed by the wounded AmaZulu, but should have a trick up their sleeves for them. Sundowns have been the team to beat in Africa in the past few months, given their domestic and continental dominance, as they are top of the DStv Premiership log and are the African Football League champions. Their continental run took a knock last weekend, though, as they lost to TP Mazembe in their second game of the CAF Champions League group stage having won their opener. However, with their next group stage match in two weeks’ time, they’ll have to turn their focus to the Premiership as they look to become the first team to win their first 10 games in the league.…

The country’s overall contraction was dragged down by the performances of agriculture, manufacturing and construction SOUTH Africa’s economy is at the risk of slipping into a technical recession in the last three months of this year if the energy and logistics crises are not dealt with as gross domestic product (GDP) contracted in the third quarter of 2023, dragged by agriculture, manufacturing and construction. A technical recession is when a country faces a back-to-back decline for two consecutive quarters in the GDP output, a situation it narrowly avoided in the first quarter of this year. This comes as GDP fell more than expected by 0.2% in the three months to September, after two consecutive quarters of growth, following a downwardly revised 0.5% growth in the second quarter. Statistics South Africa…

TRANSACTION Capital’s minibus taxi financing subsidiary SA Taxi’s woes worsened after it reported a R3.7 billion headline loss for the year to September 30, this after a R2.1bn loss was reported in the first half. Notwithstanding this, SA Taxi’s operational restructure, focused on stabilising the business through cost reductions and repositioning the business in the pre-owned minibus tax market, was on track for completion in March 2024, the group’s directors said in the annual results yesterday. They said the headline loss was driven mainly by a R1.1bn increase in repossessed vehicle stock write-downs as further material changes were made to SA Taxi in the second half. Subsequent to these once-off provisions, the net asset value of SA Taxi was R1.6bn, including a R2.2bn non-interest bearing shareholder loan to be…

SHAFTESBURY Capital PLC has signed a £300 million (R7.11 billion) unsecured loan agreement, with an initial maturity of three years, with the option to extend the tenor by a further two periods of one year each, subject to lender approval. Shaftesbury, the London West End commercial property group that is listed in London and on the JSE, said yesterday the proceeds of the facility, combined with existing cash, would be used to repay the remaining £376m of the unsecured loan that was arranged at the time of the merger with Capital & Countries that completed in March, and which was drawn in April to fund the repayment of the Shaftesbury secured bonds. The unsecured loan is due to mature in 2024. Cash balances at September 30, 2023, adjusted…

LESAKA Technologies, the fintech with a secondary JSE listing and a primary listing on Nasdaq, has appointed Ali Mazanderani as chairperson, Kuben Pillay as lead independent director, while Chris Meyer will conclude his tenure as group CEO in February 2024. Lesaka said in a statement yesterday that during Meyer’s nearly three years as CEO, he had led a successful turnaround and building of the Lesaka fintech platform. Meyer will remain a director of Lesaka. “I have dedicated all my energy over nearly three years to the turnaround and rebuilding of the Lesaka platform, spending the majority of that time apart from my family in the UK. The vibrant and energised Lesaka of today looks very different to the business we took on almost three years ago … the Consumer division…

It’s proving to be a great year for Uncle Waffles. Not only did the internationally acclaimed amapiano DJ headline her first international “curated” show at New York’s Great Hall, Avant Gardner, but she also bagged her second major deal with international fast food brand KFC back in August and appeared on several magazine covers globally. Now, as the year comes to a close, the Asylum album-maker has been honoured with a Woman of the Year award at the GQ Men of the Year 2023 awards. The event, that recognises and celebrates South Africa’s trailblazers who are shaping our cultural landscape and pushing boundaries, took place on Saturday at Langhams, Fourways, in Johannesburg. The list of winners also included podcaster MacG, the South African national rugby team and pop-duo, Mafikizolo, among…

Provincial Health Departments are beefing up security at health facilities as attacks on hospital and clinic staff are increasing in parts of the country. Replying to parliamentary questions from DA MP Michele Clarke, Health Minister Joe Phaahla said there were more than 100 attacks on scores of hospital and clinic staff since January 2022, but this excluded the Western Cape. Phaahla said there were 14 incidents in the Eastern Cape. His reply showed that staff were prone to being threatened with guns and being robbed at gunpoint. In one incident at the Nomangesi clinic at Kariega, a security guard was attacked by four thugs. “He ran into the clinic and locked himself in. The thugs took the exterior security gate with them,” Phaahla said. Affected staff were counselled at wellness…

WITH the country already waiting in anticipation and preparing to go on holiday next week, holidaymakers are being advised to remember that festive travelling is synonymous with crashes and death. According to statistics from last year, 1 451 people died on the roads, with most of them having been recorded during the weeks of December 15-21 and 22-28. The main causes of the road fatalities were jaywalking, speeding on wet and slippery roads, overtaking across barrier lines and poor visibility, the police and road safety agents said, as they called again for enhanced care this year. “There were, in addition to road fatalities, high accident numbers, hijackings, drunkenness … and these are just the reported ones. “This is in addition to motorists falling victim to road crimes like spikes,…

THE City of Tshwane, in partnership with Enterprises University of Pretoria, has embarked on a three-year skills assessment drive with a view to equip municipal employees with new skills sets to improve service delivery. More than 20 000 municipal employees were expected to undergo the assessment to review the skills and capacity of the City’s workforce. MMC for Corporate and Shared Services, Kingsley Wakelin, said the comprehensive skills assessment will also assist the City with the long-term goal of knowing what skills it has and which skills are needed to deliver quality services to all residents. The exercise, Wakelin said, envisaged that employees performing various tasks at different levels would be capacitated with the necessary skills to excel in their respective roles. “This is not only a legal requirement but…

Actor Nhlanhla Kunene has spoken about his breakout role on the Showmax original series Adulting, which broke the record for most first-day views of any drama series in Season 1. Kunene is among other well-known stars it features, including Hunk of the Year and Feather Award winner Thembinkosi Mthembu (Outlaws, Shaka iLembe, The River) as Bonga, Thabiso Rammusi (The Suit) as Mpho, and Luthando BU Mthembu (Big Brother Mzansi) as Vuyani, who was named GQ’s Best Dressed On Screen Personality earlier this year. Having received love for his role, he explained his initial reaction, adding he never anticipated people gravitating towards Eric, the character he portrays. “I was shocked. I initially thought the attention would be on Bonga because Thembinkosi is an amazing actor, and the typical preference in South…

It is unthinkable and unspeakable, the current situation in Zimbabwe, where kids are now being smuggled into South Africa for a better living. President Emmerson Mnangagwa failed to resuscitate the Zimbabwean economy and end rampant corruption. He should let another person take over and govern Zimbabwe. A total of 443 Zimbabwean children have been held by the South African authorities after families in South Africa couldn’t afford to return to Zimbabwe because of the situation. It’s really disturbing that the president of Zimbabwe is busy battling with the election and pumping out thousands to fund the election to be held on December 9 while innocent children are being smuggled into South Africa. The level that Zimbabweans have suffered is unexplainable. Smuggled kids may be victims of trafficking in South Africa.…

Israeli forces launched their long-awaited storm of the main city in the southern Gaza Strip yesterday, where hospitals were overrun with scores of Palestinian dead and wounded. In what appeared to be the biggest ground assault since a truce collapsed last week, residents said Israeli tanks had entered the eastern parts of Khan Younis for the first time, crossing from the Israeli border fence and advancing west. Some took up positions inside the town of Bani Suhaila on Khan Younis’ eastern outskirts, while others continued further and were stationed on the edge of a Qatari-funded housing development called Hamad City, residents said. After days of ordering residents to flee the area, Israeli forces dropped new leaflets yesterday with instructions to stay inside shelters during the assault. “In the coming hours,…

Dublin: Ireland says it can no longer provide accommodation to all asylum seekers due to a severe shortage of emergency housing, and will hand out tents and sleeping bags where needed. This comes after Minister for Integration Roderic O’Gorman this week said asylum seekers could be turned away from shelters “in the coming days”. Priority would be given to families arriving into the country. Over 100 000 refugees and asylum seekers are being accommodated in Ireland, including around 74 000 Ukrainians who have fled the war there. | AFP…

Squad depth will be the buzz word bandied about by all the South African franchises, and their European counterparts, this week as they start their campaigns in either the EPCR Champions Cup, or the second tier Challenge Cup. The reality of the travel over the next fortnight will present its own challenges, especially for the Lions and Sharks, who will both participate in the Challenge Cup. The Free State Cheetahs, invited to play in the Challenge Cup once more, will be based in Amsterdam for their ‘home’ games but that brings with it a different financial burden. While the Sharks, due to their poor form and the fact that they face Pau at home on Saturday, could foreseeable select their strongest match day 23 for that game in the hopes…

Proteas Women’s assistant coach Thandi Tshabalala wants his team to “go back to basics”, especially in terms of bowling and playing spin in the second T20 against Bangladesh in Kimberley today. Tshabalala, who played T20s for the Proteas Men’s team, believes this will allow the home side to regain the advantage after their 13-run loss in the opening match in Benoni. “We didn’t hit our straps. We had a great powerplay but after that didn’t keep the momentum on our side and we let them back into the game, and once they were back in the game, I felt they wanted it more than us,” Tshabalala said. “I feel we need to go back to basics. We’ve had chats in the changeroom and are looking to improve and implement everything…