Innholdsfortegnelse for 2024-02-22 i Star

THE FINANCIAL position of state-owned entities has deteriorated further in 2022/23 due to the weak economy and historically poor performance, and more of these companies are failing to submit financial statements on time because of this, the National Treasury said in the Budget yesterday. Subsequently, the Eskom debt relief programme was introduced in the year and the South African Post Office was placed in business rescue, while a guarantee framework agreement was concluded for Transnet. The net asset value of state-owned companies declined by 2.8% to R407.4 billion in 2022/23, mainly due to increased losses reported by most of the state-owned companies. Average profitability measured by return on equity deteriorated from -2.6% in 2021/22 to -7.7% in 2022/23. The National Treasury said the negative return on equity was mainly…

Country’s gross loan debt has grown from R1.58 trillion in 2013/14 to R5.21 trillion in 2023/24 SOUTH Africa’s credit ratings status will come under serious scrutiny in the weeks ahead on the back of fiscal slippage as the government borrowing continues to exceed tax revenue collected by the end of the 2023/24 financial year. According to the 2024 Budget Review tabled in Parliament yesterday, gross loan debt has grown from R1.58 trillion in 2013/14 to R5.21trln in 2023/24. As a percentage of gross domestic product (GDP), the government gross loan debt is currently at its highest point since 1947, and the debt-to-GDP trajectory is about 16 percentage points higher than the median emerging market level. Finance Minister Enoch Godon- gwana yesterday said the 2023/24 main Budget deficit – government…

ACCORDING to the tax proposals in Finance Minister Enoch Godon- gwana’s Budget speech yesterday, the only things that will change for individuals in the 2024/25 tax year will be above-inflation increases in the so-called “sin taxes” on tobacco and alcohol and an increase in the levy on plastic bags. In a surprise move, the Minister did not announce an increase in the fuel levy. All personal income tax brackets, rebates, thresholds, tax credits and exemptions remain the same as the 2023/24 tax year. This does not mean, however, that individuals will be paying the same amount of tax. The income tax brackets have purposefully not been adjusted for inflation, with the result that if one’s income increases by the inflation rate (or more), a slightly larger portion of that income…

IN DISCUSSIONS with Treasury officials during the lock-up in Pretoria, the Treasury said it did not anticipate issuing either rand-denominated or US dollar-denominated Islamic bonds in the near future. In discussions at the time of the Medium-Term Budget Policy Statement on November 1, 2023, the Trea- sury said it would issue a term sheet for a rand-denominated Islamic bond that afternoon, which was done. In November 2021, the intention was still to launch it in the 2021/22 fiscal year as a way of diversifying the debt portfolio and introducing a new set of savers into its funding universe. On November 29, 2023, the Trea- sury announced the successful launch of the first sovereign rand-denominated Al-Ijarah Sukuk on the African continent. This landmark transaction raised R20.386 billion and comprised four…

FINANCE Minister Enoch Godon-gwana was in a jolly mood when he addressed the media ahead of his third Budget speech. He noted that his speech was late in being distributed to the media “due to cost containment measures that meant that some printers were not available”. In response to some questions by the media he quipped that he could not answer them because “those are above my pay grade”. The reason for this ebullience was the R150 billion “gift” provided by tapping the South African Reserve Bank’s Gold and Foreign Exchange Contingency Reserve Account (GFECRA) that will be used to reduce the government’s borrowing requirements and ease the debt service burden. This “gift” means that the medium-term gross borrowing requirement will be reduced by R196 billion over the…

THE RAND ROSE by 0.5% to a two-week high of R18.80 to the US dollar yesterday after Finance Minister Enoch Godongwana delivered a fiscally responsible election Budget, which will see the government lessening its borrowing requirements this year through a R150 billion draw-down from the contingency reserves, for the first time in 20 years. Tapping into the Gold and Foreign Exchange Contingency Reserve Account (GFECRA) had been a domi- nant theme ahead of the Budget speech, and yesterday it came to pass that the National Treasury and the South African Reserve Bank (SARB) were on the same page on the issue. According to the Treasury, the last settlement of this kind was done in 2003. Tabling the 2024 Budget yesterday, Godongwana announced that the National Treasury would dip into…

Finance Minister Enoch Godongwana’s Budget Speech has been met with deep concern, as activists argue fiercely that more needs to be done to combat crime in South Africa. Crime activist Yusuf Abramjee believes the Budget falls short in the fight against crime and highlights the need for further action. Godongwana allocated R765 billion to the peace and security cluster, with 10 000 new police recruits to be trained, but Abramjee said the “slight increase … is still not enough”. “We know that police are battling to fight crime. We know that there is a shortage of vehicles. We know that cops are underpaid, so in as much as there is a few million rand addition to the police budget, I am of the view that it is not enough. “There…

For singer, songwriter and cultural activist, Nomsa Mazwai also known as Nomisupasta, freedom means the ability to live without fear which is why her new single, Be Free, comes at the right time as South Africans, especially the youth, grapple with their own version of freedom. With the release of her recent single, the youngest of three gifted sisters from the Mazwai household has unleashed her spirited take on the concept of freedom and what it means to be free in a world that aspires but seldom realises, the true meaning of this idealistic concept. Her latest single poignantly and poetically dissects societal norms and consumerist culture, shedding light on the paradox of modern-day freedom. “Freedom means the ability to live without fear. It means being able to become…

A couple of weeks ago we drove the updated Mercedes-Benz GLC Coupe and came away quite impressed with the overall package. Trouble is it was in and around Cape Town and all the traffic issues associated with a city that’s bursting at the seams as those lucky enough to be able to move there, away from the rest of the country’s failing and dysfunctional municipalities, clog the streets. We hardly had an opportunity to stretch the legs of the GLC as we threaded our way around the peninsula, mostly between third and fourth gear. This was in stark contrast to our experience in George where we climbed in behind the wheel of its bigger sibling, the Mercedes-Benz GLE and GLE Coupe. The GLE started the SUV craze in 1997 with…

Mahindra, known for producing simple but sturdy 4x4s, is set to enter the electric car market with a little help from Volkswagen. A recently signed agreement will see Volkswagen supply the German carmaker with electric components and unified cells from its MEB modular electric vehicle platform. These will integrate into Mahindra’s INGLO battery car architecture, which is expected to spawn five all-electric SUVs. The first is set to launch on the Indian market in December 4. The collaboration will be the first fruit of a partnership agreement that was entered into during 2022, and the companies will look at expanding the collaboration in years to come. Through the agreement, Mahindra will become the first external partner to use Volkswagen’s unified cell concept. With this prismatic cell design, the German carmaker…

The confirmation yesterday of the Springboks’ season-opening match against Wales at Twickenham on June 22 is good news for the world champions on two counts. It was against Wales in Cardiff last August when the Bok machine first announced their World Cup-winning credentials, and a week later at Twickenham, they sent a warning to the world when they smashed the All Blacks. The 52-16 win at the Principality Stadium was the Boks’ biggest win over Wales on Welsh soil, while the 35-7 defeat of the All Blacks was the heaviest in their history. The return to London to play Wales in the Qatar Airways Cup will be the Boks’ first action since last year’s World Cup final and it will serve as the ideal preparation for the home series against…

There is just no pleasing Gavin Hunt, is there? Even in victory, the SuperSport United coach maintains his grumpy demeanour, always finding something wrong with his team or whatever else he can. He was at it again on Tuesday night following Matsatsantsa a Pitori’s progression to the last 16 of the Nedbank Cup, courtesy of a 3-1 victory via a penalty shoot-out. The sides were deadlocked at 1-1 after 120 minutes, with Shandré Campbell the scorer for SuperSport and Khanyisa Mayo netting for City. Home goalkeeper Ricardo Goss was the hero with three saves in the shoot-out. “Obviously we would have been disappointed if we had lost,” Hunt said after the match at the Lucas Moripe Stadium in Atteridgeville. “We had lots of chances tonight. I don’t think we were…

Tonight’s KZN derby between AmaZulu and Royal AM will be a high-stakes clash, with both seeking redemption after recent Premiership lapses. The Nedbank Cup round-of-32 encounter takes place at King Zwelithini Stadium in uMlazi (7pm kick-off). Royal AM played out a goalless draw at home to Kaizer Chiefs on Sunday at the Harry Gwala Stadium in Pietermaritzburg. Disappointingly, they had only one shot on target throughout the match. AmaZulu are still licking their wounds after a 3-1 defeat against struggling Cape Town Spurs on Saturday. AmaZulu enjoyed the lion’s share of possession at the Athlone Stadium, but were unable to capitalise on it. Their Spanish coach, Pablo Franco Martin, has called on his players to improve their performances against their KZN rivals today. “We are not at our best at…

THE NATIONAL Treasury is betting on a projected decline in consumer inflation and ramped-up investments in renewable energy projects to lift South Africa’s dwindling economic growth out of more than a decade-long downward spiral. The Treasury yesterday revised South Africa’s 2023 gross domestic product (GDP) growth estimate down to 0.6%, from 0.8% projected in November, due to widespread power cuts, operational and maintenance failures in freight rail and at ports, and high cost of living. According to the 2024 Budget Review, headline inflation is projected to moderate from 6% in 2023 to 4.9% in 2024, and towards a touch of the midpoint target range at 4.6% in 2025 as food and fuel inflation continue to decline. However, the annual consumer inflation crept up in January, rising to 5.3% from 5.1%…

THE COST OF servicing debt continues to choke the economy and the public finances and in yesterday’s Budget, one in five rand in revenue and taxes received by the government is spent on this. This government is spending more to repay debt than on basic education, social protection or health. The Budget tried to strike a balance between the need for national development and the sustainability of public finances, despite the low economic growth, which has crimped revenue. The Budget allocated one in ten rand to the social wage, or spending on education, health, social protection, community development and employment programmes. Over the medium term, total government expenditure is expected to grow from R2.37 trillion in 2024/5 to R2.47trln in 2025/26 and to R2.6trln in 2026/27. Additional allocations of…

THE TREASURY yesterday announced a tax incentive to help local vehicle manufacturers to adapt their factories and technologies to produce electric- powered cars, in line with the global introduction of these vehicles, and to preserve South Africa’s seat as a global exporter of automobiles. The tax inventive was among a mixed bag of announcements that affected motorists yesterday in the Budget and followed recent calls by the motor industry that the government needs to urgently firm up its electric vehicle industry policies, so that South Africa’s vehicle manufacturing sector, the biggest manufacturing sector in the country, is not left behind as the rest of the world converts to electric vehicle production. Finance Minister Enoch Godon-gwana proposed that producers of electric vehicles in South Africa would be able to claim 150%…

THE R1.4 BILLION allocated to the National Health Insurance (NHI) scheme was a sign that the government remained committed to the NHI even though medical professionals and the business sector believe that the proposed NHI Bill is unworkable. “The allocation for the NHI is a demonstration of the government’s commitment to this policy. “There remain a range of system-strengthening activities, that are key enablers of an improved public health care system, that must be undertaken,” Godongwana said. He said these activities include building a national health information system and digital patient records, upgrading health facilities and improving quality of care to ensure that they meet the minimum criteria to be certified and accredited for contracting under the NHI, strengthening facility and district management in preparation for contracting, granting semi-autonomous…

THE 2024 BUDGET saw better fiscal ratio projections to 2023’s Medium-Term Budget Policy Statement (MTBPS ) as R150 billion of the profits of the Gold and Foreign Exchange Contingency Reserves Account (GFECRA) was used – a methodology followed by many other countries in the world. The drawdown on the GFECRA account, over the 2024/25 and 2026/27 period, will be used to both reduce borrowings, and so reduce borrowing costs by R30.2bn, which is a larger share of the expenditure budgeted for than basic education, social protection or health. In November 2023’s MTBPS, gross debt was projected to peak at 77.7% of gross domestic product (GDP) in 2025/26, but it has now dropped to 75.3%/GDP, although still higher than the 73.6%/GDP projected for 2025/26 in 2023’s Budget. Positively, gross debt is…

Global superstar Jennifer Lopez has been one of the busiest people in Hollywood over the decades. From music, movies and television to beauty and fashion, the media mogul has cemented her status as one of the biggest stars on the planet. But her latest project, the Prime Video movie musical This Is Me … Now: A Love Story has left scores of critics perplexed about the nature of this self-financed multimedia offering. The 65-minute “cinematic narrative”, released in tandem with her new album, This Is Me … Now, was released on Prime Video last week. The three-part project cost JLo around $20 million (R380m) of her own money after funding for the project allegedly fell through. In the semi-autobiographical movie, where she also served as a co-writer and executive producer,…

THE National Treasury has allocated billions to the SAPS and the SANDF to fight crime and protect the country’s borders. Delivering his Budget 2024 Speech yesterday, Finance Minister Enoch Godongwana said R765 billion has been allocated to the peace and security cluster over the next three years. “Government is prioritising fighting crime and corruption with a focus on enhancing law enforcement agencies. A total of R765 billion is allocated to the peace and security cluster. “In the coming financial year, 10 000 new police recruits will be trained. As part of the country’s responsibility to promote regional peace and stability, this Budget will also allocate funding for the deployment of soldiers in Mozambique and the DRC.” The police and defence force were also allocated an additional R350 million for…

WITH myriad issues plaguing the education sector, Finance Minister Enoch Godongwana’s Budget allocation of an additional R25.7 billion to the sector has been labelled as a disappointing state of affairs. Godongwana announced in his Budget Speech that the additional allocation would enable the government to protect the budgets of critical programmes such as the school nutrition programme, which assisted more than 20 000 schools. In addition, the early childhood development grant would also move from R1.6 to R2 billion over the medium term. However, student leaders within the higher education space said they were dismayed by the minister’s insistence on leaving out the many key issues plaguing the sector – most importantly a lack of direction as to how the funds were to be disbursed. Keamogetswe Masike, the…

Families of some of the five men accused of killing former Bafana Bafana goalkeeper, Senzo Meyiwa, have accused a distant relative of one of the accused of using the televised murder trial to get money from the public in a guise of donations for the accused. Sinqobile Maphisa and Nompumelelo Ntanzi, siblings of the two accused, Bongani Ntanzi and Mthokoziseni Maphisa, recently went on the SA Infotainment podcast and revealed how a distant relative allegedly swindled members of the public while pretending to help the accused. Sinqobile, who has been vocal on the innocence of the five accused, especially his brother, said she opened a WhatsApp group to raise funds to assist in paying legal fees and for other things they might need. She said a distant relative, Makhosazane Radebe-Zwane,…

A SPAZA shop was shut down in Pretoria north. Many expired products were confiscated from other business outlets during a raid by the metro police in Tshwane this week. Led by chief of police, Commissioner Yolanda Faro the operation inspected spaza shops as part of an ongoing food safety operation to check if they complied with the law. MMC for Community Safety, Grandi Theunissen and the MMC for Health, Rina Marx were part of the campaign and they monitored if spaza shops were not selling goods that had passed their sell-by dates. The metro police confiscated many expired products and issued fines to shop operators for non-compliance with the by-laws. Expired beef and sausages, including counterfeit cigarettes, were confiscated. A shop was closed during the operation for non-compliance with the…

Thabo Bester reportedly refused to eat breakfast ahead of his appearance at the Free State High Court yesterday because the meal was not conducive for a patient on chronic medication. Bester, along with eight people accused of allegedly helping him escape prison, fake his death and flee South Africa, were due to sit for a pre-trial conference this week. However, the State postponed it to June 5. The accused, three of whom – including Bester and his lover Dr Nandipha Magudumana who remain in custody – face charges of fraud, corruption, aiding and abetting a convict, violation of a corpse, defeating the ends of justice and arson. This comes after Bester allegedly escaped custody from the Mangaung Correctional Centre in Bloemfontein in May 3, 2022. His new legal representative, advocate…

SIN tax increases as tabled by Finance Minister Enoch Godongwana have been described as “ridiculous and unfair” to ordinary South Africans. Godongwana announced sharp increases, especially for alcohol and cigaretes, in his Budget Speech in Parliament yesterday. He said excise duties on alcohol products would be increased above the inflation rate for 2024/25. As a result, beers, ciders and alcoholic fruit beverages will increase by 14c, a bottle of wine by an extra 28c, a bottle of fortified wine by 47c, and sparkling wine by an additional 89c. Perhaps the most scathing rise was the R5.53 increase to be levied on spirits such as whisky, gin and vodka. Tobacco excise duties rose by 4.7% for cigarettes and cigarette tobacco, and by 8.2% for pipe tobacco and cigars. Some consumers slammed…

As violent crime continues to cast a dark shadow over our basic sense of safety and security, South Africans are looking for more ways to protect themselves, both at home and on the road. Murders have increased by 77% since 2012, according to the Institute for Security Studies (ISS) and car hijackings have more than doubled during that same period from around 9 540 to 22 742 in 2023. The Global Initiative Against Transnational Organised Crime (GI-TOC) has also noted an increase in targeted assassinations in the country, amounting to more than two per week in 2022. Assassinations have become such regular news headlines, that South Africans hardly bat a desensitised eyelid at them anymore. All considered, it’s not surprising that the armoured vehicle industry is booming in Mzansi. Pretoria-based…

Over the past few weeks, it has been reported in the media that Zulu King Misuzulu’s demand that the government places the Ingonyama Trust under his full control is “against the principles of democracy in South Africa”. However, notwithstanding, it would appear as if the king’s demand is consistent with the KwaZulu-Natal Ingonyama Trust Act No. 3KZ of 1994, as read with Section 13 of the KwaZulu Amakhosi and Iziphakanyiswa Act, 1990. It is the Zulu king’s right to manage the affairs of his people and the Zulu king’s sovereign hereditary right to manage the land of the Zulus. The Zulu king, not the Trust Board, is accountable to the Zulu people for the way that the land of the Zulu people is managed. Section 13 of the KwaZulu amakhosi…

Having showcased their strength in depth in hammering first- division outfit La Masia 6-1 in the Nedbank Cup, Mamelodi Sundowns now have to prove they are able to live without their key players on the continent. The Brazilians travelled to Mauritania yesterday for their CAF Champions League group clash against FC Nouadhibou on Saturday (6pm kick-off, SA time) sans two crucial figures in right back Khuliso Mudau and centre back Mthobi Mvala. Coach Rulani Mokwena was also crossing fingers that the talismanic skipper and goalkeeper Ronwen Williams would have fully recovered from a shoulder injury sustained while on Bafana Bafana duty at the Africa Cup of Nations. Also slightly doubtful is the influential veteran midfielder Themba Zwane who, according to Mokwena, has an injury concern too. Speaking during the post-match…

The Blitzboks will be hoping Zain Davids’s golden touch does not desert him in Vancouver this weekend in what will be his seventh HSBC SVNS Canada tournament. The 26-year-old forward has won three gold medals in his previous six visits to Canada. “I’ve had a good run here, and that is why this tournament ranks amongst my favourites. But this trip is not about me – it is about us as a squad playing to our potential,” said Davids. When he runs out at BC Place this weekend, it will be in his 45th World Series tournament, which underlines Davids’s importance in the Blitzbok machine. His well-timed runs have resulted in 38 tries, but more significant is his 45 tackles made in the first three tournaments of the current…

THE GOLD and Foreign Exchange Contingency Reserve Account (GFECRA) held at the South African Reserve Bank (SARB) will be tapped to reduce government’s borrowing requirements and ease the debt service burden. The GFECRA captures valuation gains on South Africa’s foreign ex- change reserves as the rand has moved from R10/$1 in 2014 to R19/$1 currently. This has meant that the GFECRA balance has grown from R1.8 billion in March 2006 to R507.3bn in January 2024. Previously, these gains or losses were not settled, but were reflected as assets or liabilities on the financial statements of the National Treasury and the SARB. The GFECRA was created to insulate the SARB’s profit-and-loss statement from currency swings, as the valuation losses were charged to the National Treasury. The Treasury has now decided…

FROM SEPTEMBER 1, contributions to retirement funds will be split, with one-third going into a “savings component” pot and two-thirds going into a “retirement component” pot. The two-pot retirement reform allows pre-retirement access to a portion of one’s retirement assets in times of personal stress, such as medical bills or unemployment and arose out of trade union pressure to access retirement funds during the national lockdown in 2020 when many people could not go to their place of employment due to fears that they would spread the Covid-19 virus. The need to access savings funds is also evident in the penalties incurred by members of the public when they redeem their RSA Savings Bonds before maturity. These penalties have surged from R136 million in February 2022 to R715m in…

SOUTH Africa’s total capital investment of 14.2% of gross domestic product (GDP) in 2022 was well below the National Development Plan target of 30% and public sector investment would need to grow by 10% of GDP by 2030, the National Treasury said yesterday. In an update at yesterday’s Budget, the government admitted that between 2012 and 2022, public sector capital investment had only averaged 5.4% of GDP, while private sector investment averaged 10.9%. To try and kick-start this greater spending, the government had initiated some structural reforms in infrastructure, Treasury said. The government plans to spend R943.8 billion on infrastructure over the next three years at national, provincial and local government level. State-owned companies are currently the biggest contributors to capital investment. Public housing is expected to amount to…

Business Report erroneously re- ported on Tuesday, February 20, 2024, “Negotiations on a project to repurpose the Saldanha Steel plant are under way”. The article says that Networth Investments, a ferrous metals development company, was in negotiations with ArcelorMittal South Africa (Amsa) about a project to repurpose the Saldanha Steel plant. ArcelorMittal SA has subsequently reiterated that it has held no such negotiations, and that there are no plans to sell the plant. We apologise for the error.…

IN THE FACE of a daunting combination of economic and fiscal imperatives Finance Minister Enoch Godongwana in his Budget Speech yesterday gave a realistic assessment of the socio-economic and fiscal challenges confronting South Africa, including a “high sovereign credit risk“. The Budget had to walk a complex tightrope of tough economic and political decisions within a limited fiscal space. The fiscal “mix” in the Budget sought to find the difficult balance of reconciling what is needed to underpin the economy with continued commitment to fiscal consolidation and containing debt. The 2024 Budget recognised the overall need to slow the growth of national debt and lower its cost with a number of measures intended to bridge the fiscal gap. As broadly expected, the Budget embodied several financial buffers for the medium-term…

FINANCE Minister Enoch Godongwana has revealed that despite the many challenges, the government is serious and committed to implementing the National Health Insurance (NHI) plan policy currently awaiting approval from President Cyril Ramaphosa. Ramaphosa is yet to sign the policy into law following its recent adoption by the National Assembly. Many civil society organisations and trade unions within the sector have been urging the president to sign the NHI into law and bring a new health framework into the sector. During his Budget Speech, the minister resolved to make the NHI a reality after he tabled his Budget allocation for the country’s ailing health sector plagued by the unemployment of young doctors, nurses and other health professionals. Ahead of his speech, the Democratic Nursing Organisation of South Africa (Denosa) and…

IT IS scary that Curro Hazeldean's prodigious hurdler Matodzi Ndou is still finding his form. Despite having only returned to the track recently, he was responsible for the standout performance during the Curro Podium Grand Finale on Saturday at Pilditch Stadium in Pretoria. He performed very well in the 110m hurdles for boys and not only did he break the meeting record but also the South African Youth record with his impressive time of 13.21 seconds. "I only started training last week. I don't feel that my fitness level is where it should be, so I wasn't expecting to break the record," said Ndou. The previous record holder for the meeting as well as the SA Youth record was Naheem Jack (Paarl Boys' High). Jack's meeting record stood at 13.37…

High cost of living is a nightmare for families struggling to make ends mee The Molapo family is one of millions in South Africa grappling with poverty. The family matriarch expressed gratitude for the recent increase in social grants announced by Minister of Finance Enoch Godongwana. The Molapos only receive child support and old-age pension grant and has to deal with the difficult challenge of stretching their limited income to satisfy basic needs in the face of growing costs and inflation. According to the grandmother, Mary Molapo, the money they get is barely enough to cover their needs as they use R1 500 for food, R500 for toiletries, R300 for utilities and R1 000 for clothes, uniforms and stationery. “As a family, we are determined to make the most of…

South Africans have voiced their dismay over the exorbitant cost of living, resulting in many families surviving hand-to-mouth while others continue to struggle to make ends meet. The Star met 45-year-old mother of three, Amanda Njikelana, who spoke openly about her state of living, stressing that it was getting harder by the day. “My work income barely sustains us because I am a single mother of three. Two children are in school, while the other one works. At work, the money I earn is not enough. “So the R6 500 that I earn pays rent of R1500. And then I need to buy groceries for almost R2 500. “I need to take care of school expenses. I sometimes need to spend on what is needed at school. For example, on…

The country is in a sorry state. The fact that we now have more than 621 political parties registered with the IEC is proof that most people don’t understand the enormous demands that governments around the world have to grapple with. Hence every Tom, Dick and Harry wants to start their own party, promising voters to expect nothing else but an abundance of milk and honey if they are voted into government. Many countries must be wondering what is wrong with South Africans. Our biggest problem is that we don’t learn from the past or from countries who gained independence from colonialism ages ago. The fundamental objective for all liberation movements was to achieve socio-economic transformation, reversing injustices of the past. The one late president who tried to implement this…

After announcing his departure from Jaguar Land Rover last month, Massimo Frascella has been appointed as Audi’s new design head. Commencing his position in Ingolstadt on June 1, the Italian national will take the place of Marc Lichte, who is moving to a new role within the Volkswagen Group. The 52-year-old is a graduate of the Istituto d`Arte Applicata & Design in Turin, and started his career at Bertone. He also held positions at Ford and Kia – where he designed that beautiful third-generation Sportage – before joining JLR as design head in 2011. And don’t the British firm’s designs of the past decade speak for themselves? Frascella joins in the wake of Audi restructuring its design department, which will now report directly to the chairperson of the Board of…

On the surface, defining the concept of “letting go” may seem effortless. Upon closer scrutiny, it becomes evident that the two words have a powerful and transformative ability that can alter our entire emotional landscape. The act of letting go of what no longer serves us should be seen as a daily practice in life, not a one-time event. By digesting this idea, we can overcome the emotions associated with a traumatic experience. The purpose of these insights is to guide us in releasing past hurts and focus on seeing beyond the fog of the present moment. For the most part, humans are at odds with the mechanics of life which often leaves us questioning our long-held beliefs. Even with our best efforts, living with emotional debt daily remains a…

BANYANA Banyana’s journey to booking a place at the 2024 Summer Olympics in Paris later this year will gather momentum in Dar es Salaam, Tanzania, tomorrow. The South African national women’s team reached the third round of CAF’s Olympic qualifiers and will play Tanzania over two legs. Tomorrow’s first-leg clash at the Azam Complex Stadium (3pm kick-off, SA time) will be followed by a second-leg encounter at the Mbombela Stadium in Mpumalanga next Tuesday (7.30pm). The squad arrived in Tanzania on Monday, but a few overseas-based players such as Jermaine Seoposenwe, Linda Motlhalo and Noko Matlou joined up with the team on Tuesday, while Hildah Magaia was scheduled to arrive yesterday. Stalwart Seoposenwe, who plays for Monterrey FC in Mexico, said that since the national squad had undergone several changes,…

The darling of KwaZulu-Natal boxing, Thabiso “The Rock” Mchunu, will lock horns with Argentinian Yamil Alberto Peralta for the vacant World Boxing Council (WBC) Silver cruiserweight title at the Olive Convention Centre (OCC) on March 22. The fight was confirmed by Mvelo Boxing Promotion, the company promoting the event in partnership with the KZN Department of Sports and Recreation, Durban Tourism and SABC Sport. Mchunu (29-23-6, with 13 knockouts) will be looking to reclaim the vacant WBC Silver cruiserweight belt he had won in 2019 against Denis Lebedev from Russia. The southpaw lost the belt in 2022 in a title defence against bitter rival Ilunga “Junior” Makabu from the Democratic Republic of Congo. What makes Mchunu’s fight against Peralta interesting is that the 35-year-old South African is ranked third by…