Innholdsfortegnelse for 2024-01-17 i Star

BLACK-OWNED digital TymeBank reached its first month of profitability in December, the first digital bank in South Africa and on the continent, to break even, CEO Coenraad Jonker said yesterday. Locally the bank managed to continue to grow in terms of the number of customers since its launch in February 2019, and now with 8.5 million customers, has set itself a “cheeky” target of being among the top three retail banks in South Africa within three years, Jonker said in an interview with Business Report yesterday. “In good months we can get up to 500 000 new customers, 200 000 in South Africa and 300 000 in the Philippines,” he said. He said they also planned to expand further into South-East Asia in the second quarter…

Last year it had seven countries that took part in a pilot of trading under the rules of AfCFTA THE AFRICAN Continental Free Trade Area (AfCFTA) Secretariat has vowed to extend the recently promulgated free-trade regime to 31 countries this year after a successful pilot project in seven countries last year. The AfCFTA is the world’s largest free trade area bringing together the 55 countries of the African Union and eight Regional Economic Communities to create a single continental market with a population of about 1.3 billion people and a combined gross domestic product of approximately $3.4 trillion (R63.5trln). AfCFTA secretary general Wamkele Mene yesterday said that they had seen the start of trading in earnest, with goods moving across borders, even though it was not to the…

IN A SPECIAL address to the World Economic Forum’s 54th Annual Meeting, China’s Premier Li Qiang offered a positive prognosis for China’s overall economic health, and laid out China’s vision for open, collaborative, pro-business policies for both domestic and multinational enterprises. In opening remarks delivered before introducing the premier, Klaus Schwab, the founder and executive cairperson of the World Economic Forum, sounded the meeting’s theme of rebuilding global trust, saying that “trust is a fundamental pillar of our social, economic and political life. It is vital for co-operation, social cohesion and effective functioning of institutions.” Addressing that theme directly, Li offered five proposals to address the trust deficit in the global macroeconomy: better international co-ordination of macroeconomic policy; more industrial specialisation among countries in order to stabilise supply chains; more…

HIGHER diamond production from Petra Diamonds’ South African mines and a weaker rand helped lift its output and provided financial support for operations in the half-year period to the end of December, although revenues declined to $188 million (R3.5 billion). Production for the period was 2% stronger at 1.43 million carats, mainly as a result of stronger contribution from the Cullinan and Finsch mines in South Africa, the company said yesterday. However, lower grades at Cullinan “partially offset” the contribution to overall productivity. “We continue to make good progress on the CC1E development project at Cullinan Mine and the 78-Level Phase II development project at Finsch, and the resumption of the deferred capital programmes remains on target for July 2024. “The re-planning and value- engineering work associated with…

It’s been a tough start to 2024 for Grammy award-winning DJ and producer Black Coffee (real name: Nkosinathi Maphumulo). Last week his team released a statement explaining he was in a “severe travel accident” while en route to a gig in Mar Del Plata, Argentina. The Daily Mail reported that he was recovering from surgery after sustaining injuries on his private plane which was forced to make an emergency landing at Montevideo Airport due to severe turbulence. Although his camp didn’t elaborate on the extent of the 47-year-old’s injuries, they did add, “We can confirm that he is receiving the best possible medical attention and is surrounded by a supportive family and team”. “Grootman”, as he’s often known, has taken to X to let his 5.3 million followers know…

The Electoral Commission of South Africa will hold its final voter registration weekend on February 3 to 4 ahead of the national general elections. The IEC’s chief electoral officer Sy Mamabolo said the registration weekend held in November was successful with tens of thousands of new registrations. “We think there are a lot more people out there who have yet to be registered and this is an additional opportunity for them to enlist on the voters roll. “On 3 and 4 February more than 22 000 voting stations will open on both days between 8am and 5pm.” Mamabolo said the opening of the voting stations offers the greatest opportunity for a registration outcome. Last year, 2.9 million South Africans interacted with the commission during the weekend of November 18-19, with…

The ANC has remained mum over former president Jacob Zuma, who used his address at the weekend to attack President Cyril Ramaphosa. Addressing members of the uMkhonto weSizwe (MK) party at Pietermaritzburg’s YMCA hall at the weekend, Zuma said South Africans have allowed themselves to be led by a criminal, a spy and a sell-out. He questioned why South Africans have remained silent while Ramaphosa escapes being held accountable for his Phala Phala farm scandal. Zuma accused those gathered at the YMCA of being cowards, saying he wishes Shaka Zulu could wake up for six months so he could deal with the cowards who are not speaking out while the country burns. “Why have you kept quiet after hearing that your president was found with huge sums of stolen money…

THE KwaZulu-Natal Department of Co-operative Governance and Traditional Affairs (Cogta) has conceded that their interventions in countering the recent floods that have battered the province were not enough, and more funding was needed to implement the mitigation plans. Disastrous floods have hit the province in recent years resulting in deaths damage to the infrastructure. Responding to the Sunday Independent (The Star’s sister paper) on Thursday on how the provincial government was responding to the disaster and whether there were long-term plans to relocate people, KZN Cogta MEC Bongiwe Sithole-Moloi said that preliminary assessment indicated that the need for more funding to implement their mitigation plans. “The disaster that has been experienced by KZN over the years differs from one incident to another. Relocating people may not be the best solution,…

AXED National Student Financial Aid Scheme (NSFAS) CEO, Andile Nongogo, failed in his urgent bid to the Johannesburg Labour Court to be reinstated. His contract was terminated in October last year following an investigation conducted by Werksmans Attorneys and advocate Tembeka Ngcukaitobi. Nongogo alleges that he was fired without having undergone a disciplinary process which is why he challenged his unilateral dismissal. The NSFAS board fired Nongogo with immediate effect on the grounds of a breach of policies and trust. Since his axing, there have been accusations and counter-accusations between Nongogo and board chairperson Ernest Khosa, following a damning forensic report which recently implicated Nongogo in alleged corruption, fraud and illegal tender dealing He entered into a fixed-term contract with NSFAS in November 2020 and the contract was supposed…

MISS Teen Universal South Africa 2023, Boitshepo Lamola, has her eyes set on conquering the global stage. The 18-year-old will represent South Africa during the Miss Teen Universal 2024 pageant in Lima, Peru, on April 23. Lamola was born in Gauteng, lived with her grandmother in Limpopo for her nursery school days, before settling back in the golden province. She did her foundation education at Oost Eind Laerskool and proceeded to Curro Academy, where she remained until matric. “My upbringing was a bliss; I have one sibling who is more than a decade older than me. I call her my deputy parent,” she said. “My mother made sure that my sister and I had the best she could give. I have a good support system at home from my mom,…

Preserved lemons are an affordable and flavourful recipe. They are also easy to make. Prep time 15minutes Yield – 500ml jar Ingredients 5 large lemons or clementines ¼ cup of salt Instructions Ensure you have a clean 500ml glass jar. Add 1 tbs of salt to the bottom of the jar. Juice 2 of the lemons Slice 3 of the lemons into quarters, but do not slice all the way through. Gently open these 3 lemons and sprinkle them liberally with salt, then carefully push them back together. Place 1 of the salted lemons in the bottom of the jar, then add 1 tbs of salt. Then add the next lemon or clementine, followed by 1 tbs of salt and then finally the 3rd lemon followed by the 1 tbs…

Two officials at a driving licence testing centre (DLTC) in Mkhuhlu, Mpumalanga, have been arrested by the Directorate for Priority Crime Investigation’s (Hawks) Nelspruit-based serious corruption investigation unit during an entrapment operation. The two officials, aged 45 and 47, were arrested on Monday, Hawks Mpumalanga spokesperson, Captain Dineo Lucy Sekgotodi, said. “The arrest followed a tip-off to the Hawks about officials soliciting for gratification,” she said. “It is alleged that on January 8, the complainant went to Mkhuhlu DLTC to write a learners’s licence test. After writing she found she had failed,” Sekgotodi said. “Then, the female examiner who was invigilating when they wrote approached her and told her she could be assisted in passing a learner’s licence but only if she paid her a gratification of R1 000.” An…

GOLD ONE HAS had to cancel another shift at its labour-relations troubled South African mine, with the National Union of Mineworkers (NUM) labelling management as “stubborn” and “useless” in the light of the company’s insistence on dismissing more than 400 workers for staging underground sit-in and hostage-taking protests. Ziyaad Hassam, the head of legal at Gold One, has told Business Report that the gold miner has suffered R12 million to R15m in lost production. In October and December, mineworkers at Gold One refused to return to the surface after their underground shifts ended as they protested against the miner’s refusal to acknowledge the Association of Mineworkers and Construction Union (Amcu) as a labour union at the mine. In the past few days, Gold One has issued more than 300…

CHINESE Premier Li Qiang said yesterday that the country’s economy was expected to have grown by around 5.2% in 2023, as he addressed an annual meeting of global elites in Davos. The figure would represent an improvement on the 3% recorded in 2022, when tight zero-Covid curbs hammered business activity. But it would still mean the lowest growth since 1990, excluding the years of the pandemic. “The Chinese economy generally rebounded and improved last year,” Li said in a speech at the World Econo- mic Forum (WEF). Our gross domestic product growth is expected to be around 5.2%, higher than the target of around 5%that we set at the beginning of last year,” Li said. Despite lifting health restrictions, the world’s number two economy is still weighed down by…

GLOBAL trade costs have risen this month, while South Africa awaited a decision on African Growth and Opportunity Act (Agoa), Investec chief economist Annabel Bishop said in a trade note. This was after after 2023’s slowing, and supply chain capacity had already seen a high level of underutilisation, although some container freight rates recently rose substantiality as geo- political tensions escalate. “A slowdown in global trade growth in 2024 would contribute to the weaker outcome for global growth this year, with the escalation in the red sea conflict (particularly Iranian backed groups and the US) a downside risks to an already weaker outlook,” she said. The latest data in the JP Morgan Global Manufacturing PMI survey saw a further fall in production in December, the seventh month in…

TRUSTCO Group Holdings plans to issue new shares to US fund Riskowitz Value Fund LP (RVF) for an equity in- vestment of up to Namibian $950 million (R948m), via an option granted to RVF. Trustco said in a JSE notice yesterday that RVF would make a cash investment of up to N$950m into Trustco, entrenching itself as a key anchor investor. The investment would also enable the “acceleration of value creation activities already underway at Trustco, including share buybacks and the payment of dividends.” Trustco would also increase its equity stake in Legal Shield Holdings (LSH), to 91.35% by acquiring a 11.35% stake from RVF. Additionally, Next Capital and entities affiliated with Trustco’s founder, Dr Quinton van Rooyen, made an offer to convert debt in the amount of N$1.48…

Vis Reddy, Andrew van Zyl and Philippa Burmeister IT HAS BEEN two years since 28 of the world’s largest miners made a collective commitment to net zero emissions by 2050, and expectations from stakeholders are only growing. With the mining sector now firmly in the implementation stage of this mission, where are the advances going to come from? As an intensive energy user, it is important that the industry has grasped this nettle. On November 17, 2023, the planet crossed a climatic threshold. For the first time since humans industrialised, the average air temperature near the Earth’s surface was 2 degrees Celsius higher than the baseline. This occurred again the following day. These findings by the Copernicus Climate Change Service were preliminary, but experts consider the model reliable. Pressure rising…

As someone who grew up idolising and mimicking the “King of Pop” since he was a kid, Garth Field was a no-brainer to anchor the “Michael Jackson HIStory” tribute concert at Joburg Theatre. I caught up with Field to chat about the show during rehearsals last Thursday. Field who was born in Elsie’s River, Cape Town says: “I’m a professional dancer, singer, actor and choreographer. I’ve been performing all my life since the age of 5. I’ve been doing shows in Florence as well. “I love Michael Jackson (MJ). I’ve been listening to him since I was a kid. I’ve been influenced by my family. My dad was a Michael Jackson fan when he was a teenager, too.” Field channels MJ with his look, dance moves, wardrobe and singing. Johnny…

It’s official, former president Jacob Zuma cannot be the president of the country after this year’s general elections because of his criminal record. This was clarified by the Independent Electoral Commission in its formal response to The Star’s sister paper, the Daily News, yesterday. The electoral body cited Section 47(e) of the country’s constitution, which bars anyone who was convicted and sentenced to more than 12 months imprisonment with an option of a fine from holding public office. Section 47 of the Constitution provides that: (1) Every citizen who is qualified to vote for the National Assembly is eligible to be a member of the Assembly, except anyone who, after this section took effect, is convicted of an offence and sentenced to more than 12 months imprisonment without the option…

The Department of Water and Sanitation (DWS) led by Minister Senzo Mchunu will this week host another water service delivery summit to “talk” about the issues and challenges affecting municipalities. But civil society is tired of words with no action. The water services summit will take place tomorrow and Friday at Emperors Palace in Kempton Park, according to DWS. This is the minister’s second summit within two months – with the last one held in the eThekwini Municipality in KwaZulu-Natal in December – staged to “talk” about water issues affecting the decaying metro. The summit will focus on the blue, green and no drop reports, compiled by DWS, that measure performance statistics of municipalities with regard to water service delivery. Municipalities are judged on numerous factors, ranging from the…

MRS SOUTH Africa 2022 Palesa Matjekane has arrived in the US ahead of the prestigious Mrs World beauty pageant in Las Vegas this weekend. The businesswoman and mother of two, who arrived in America over the weekend, is set to spend the week fulfilling pageantry duties ahead of the official crowning ceremony on Sunday. She joined 38 other contestants from across the globe at the Westgate Las Vegas Resort and Casino on Saturday. The group have since conducted several photo shoots, and Matjekane attended an orientation dinner where she donned an African-inspired gown by famed designer Gerrit Pienaar. She is thrilled to be part of the Mrs World proceedings and festivities, and is looking forward to representing her nation at this weekend’s main event. Matjekane added that these were all…

Messages of congratulations continue to pour in for internationally recognised comedian and broadcaster Trevor Noah, whose show The Daily Show With Trevor Noah won an Emmy for outstanding talk series. Accepting the award, Noah thanked his colleagues and those who follow his craft. Among those congratulating Noah were Minister of Sport, Arts, and Culture Zizi Kodwa. “You continue to inspire and scale great heights with your talent, @Trevornoah. Well done on your history-making @TheEmmys win. You and @davidkibuuka showed the best of Mzansi’s creative talent in the @TheDailyShow,” said Kodwa. The South African government also shared a message recognising Noah. “Singu Mzansi, we congratulate one of our own. @TrevorNoah for winning the Emmy Award for Outstanding Talk Series for The Daily Show with Trevor Noah. Uliqhawe, emaqhaweni.” Noah left The…

Abahlali baseMjondolo commends the outstanding work of the South African legal team at the International Court of Justice (ICJ) in the Hague. Many of us watched with pride as our brilliant legal team stood in front of the world to protect humanity and end the devastating attacks against the people of Gaza that have led to the loss of more than 23 000 lives, including more than 8 000 children. The Western media continue to condone the attacks on civilians in Gaza with their obvious and crude biases towards the oppressors and against the oppressed. They continue to refer to the attacks as a war between Israel and Hamas. This is not a war, it is a cowardly and genocidal attack on civilians by a country that has one of…

Despite having beaten Bristol comprehensively in England last weekend, the Bulls were already back in training on Monday for Saturday’s Champions Cup clash against Bordeaux at Loftus Versfeld (3pm kick-off). That just showed how seriously Jake White is taking the encounter, as not even a 31-17 bonus-point victory at Ashton Gate could earn those players a breather from practice. And while most of those players will be in contention to feature once more for the Bulls this weekend, White has a number of big selection calls to make later this week. Even though he won’t have Kurt-Lee Arendse, Canan Moodie and Marco van Staden available, the fourth World Cup-winning Springbok in the squad, Willie le Roux, could feature this week. White said before the Bristol match that Le Roux “will…

ROLLING blackouts imposed by the ailing State-owned entity, Eskom, pose the biggest risks to businesses in South Africa for 2024, according to the Allianz Risk Barometer. The barometer released yesterday revealed that critical infrastructure blackouts (load shedding) have emerged as the number one risk for businesses in South Africa for the second consecutive year, highlighting the severe impact of power outages and the failure of essential infrastructure such as ports, railways and roads on the economy and businesses. “The closely interlinked peril of energy crisis has climbed to the fifth position, up from sixth place in 2023. Cyber incidents and business interruption continue to hold the second and third spots, respectively,” the report said. Thusang Mahlangu, the CEO of Allianz Commercial South Africa, said: “South Africa’s business community must remain…

SIX LONGEVITY economy principles were revealed in a World Economic Forum (WEF) white paper to improve outcomes for ageing societies According to a new WEF white paper, Longevity Economy Principles: The Foundation for a Financially Resilient Future, released on Monday, “In 2020, 1 billion people were aged above 60; by 2050, this number is projected to have more than doubled to 2.1 billion. “For individuals to thrive in their longer lives, it is essential for businesses, governments, civil society, and individuals to intentionally address the demographic and financial realities of ageing.” The Longevity Economy initiative is part of the Forum’s Centre for Financial and Monetary Systems. More than 35 organisations had developed the Longevity Principles with a focus on how societies could ensure all individuals were able to…

WITH THE RECENT appointment of the board of the National Transmission Company of South Africa, the government is continuing its journey toward “liberalising” the electricity market, inviting “private” investors to play a role in new electricity generation. A propaganda narrative is circulating in the media, asserting that the traditional public utility model is “outdated”. They advocate for “private” sector involvement as the key to the future. There are claims that South Africa trails at “least two decades” behind the global trend in “restructuring” Eskom, all while assuring the public that “Eskom isn’t being privatised” or that “the coal fleet is too old” and that they “cannot be maintained”. Even though these claims are false, they seem to be persuasive to those who are going to benefit from the situation. Why…

KIBO ENERGY, a renewable energy- focused developer, yesterday updated shareholders on its strategy and said it was also working on a bio-coal energy plant with a major client. The group, dual listed on the AIM market on the London Stock Exchange and the AltX on the JSE, said yesterday progress on its developments has been limited by constraints around funding, and recent advancements as part of its commitment to developing long-term sustainable energy solutions in southern Africa, the UK and Ireland. Kibo’s strategy to develop sustain- able, clean energy solutions was driven by integrating established and cutting-edge technologies in renewable energy generation, waste-to-energy and energy storage. “The primary focus is to deliver enduring, low- or zero-carbon energy- generation solutions across southern Africa, the UK and Ireland,” it said. “A number…

Succession, The Bear and Beef were the big winners at the 75th Primetime Emmy Awards. The three shows dominated Monday’s ceremony, taking home the Outstanding Series prizes in their categories – drama, comedy and limited/anthology respectively – as well as all the writing and directing honours, and numerous acting awards. Succession – which had a total of 27 nominations across the Primetime and Daytime Emmy Awards – scored wins in the Outstanding Lead Actor and Actress in a Drama Series categories for Kieran Culkin and Sarah Snook, while their co-star, Matthew Macfadyen, took home the Outstanding Supporting Actor in a Drama Series accolade. Jeremy Allen White took home Outstanding Lead Actor in a Comedy Series for The Bear, while his co-stars Ebon Moss-Bachrach and Ayo Edebiri took the Outstanding Supporting…

The Presidency has remained mum about the absence of President Cyril Ramaphosa at the World Economic Forum (WEF) annual meeting in Davos this year for the second time running as the event officially kicked off yesterday. For the second year in a row, Ramaphosa skipped the annual meeting of world leaders, governments, business, and civil society groups after he cancelled his trip to Davos at the height of intensified power cuts in South Africa. TeamSA is comprised of six Cabinet ministers and business executives, led by Finance Minister Enoch Godongwana, carrying a message that “South Africa is open for business”. The delegation is expected to add the country’s voice to discussions about global issues, with the overall aim to position South Africa as a competitive business and investment destination and…

The DA has lost yet another leader. Yesterday, the opposition party lost its member of the provincial legislature, and now former shadow MEC of Education, Khume Ramulifho, for Songezo Zibi’s Rise Mzansi party. Ramulifho, who has been with the DA more than 12 years, said he believed his new party will be an ideal home as it was founded on the ethos of unity in purpose. “This morning, I resigned as a member of the DA and as a member of the provincial legislature, in Gauteng. Yet I forever remain committed to building the South Africa we all deserve. “This decision was not an easy one. I have built relationships with so many patriotic South Africans over the past 25 years. “Thus far, I can proudly say I have…

As schools reopen this morning for the first term, excitement and tears of joy will fill the air for some parents who will celebrate seeing their children wearing school uniforms for the first time. While parents will be brimming with joy, some children will be bursting into tears after school drop-offs. For some parents, capturing such moments is important. And for that reason, taking pictures of children and posting them on social media is common for many people, who don’t think twice about it. In an interview with the Newzroom Afrika, the senior account manager of a cybersecurity company, ESET Cyber Security, Calin Cloete, warned parents against sharing their children’s pictures online. She said one of the lasting negative effects is that any information shared on social media could be…

WITH the war between Israel and Hamas more than 100 days old, former president Thabo Mbeki has reiterated calls for a two-state solution. “We need to get back to negotiations about the future. Everybody agreed that we need a two-state solution,” Mbeki said in a video posted by the Thabo Mbeki Foundation on X (formerly Twitter). Mbeki added that this was “a prescription for conflict” and it was “inevitable that there will be conflict in a situation like that”. This comes shortly after the global community last week heard South Africa and Israel take the stand at the International Court of Justice (ICJ) for the genocidal hearing against Israel. South Africa launched a case in December 2023 at the ICJ against Israel for what it said were “genocidal” acts in…

Morocco have their work cut out for them as most football fans expect them to tap into their historic World Cup run and win the Africa Cup of Nations. The Atlas Lions will get their Afcon campaign under way in Group F against Tanzania at the Stade de San Pedro this evening (7pm kick-off). Not only are they expected to win the group, which also boasts DR Congo and Zambia, but the entire event – which is hosted in Ivory Coast – as well. Those lofty expectations are based on the fact that Morocco, coached by former national team player Walid Regragui, became the first African nation to finish in the World Cup semi-finals in 2022. Like any other team, they’ve had their fair share of success and shortcomings after…

Nottingham Forest boss Nuno Espirito Santo admitted yesterday he is “concerned” about the club’s alleged breaches of financial rules. The English Premier League issued a statement on Monday, which said Forest and Everton admitted they had breached profitability and sustainability rules after incurring losses above the permitted threshold for the period up to the 2022/23 season. The Toffees have already been docked 10 points earlier this season for financial misconduct in the biggest points sanction in Premier League history. Both Forest and Everton have 14 days to respond before a hearing by an independent commission that must conclude within 12 weeks. With Forest just four points above the bottom three, a points penalty would be damaging in their bid to avoid relegation. Nuno acknowledged Forest face an anxious wait to…