Innholdsfortegnelse for 2024-05-08 i Star

ATTACQ, the JSE-listed real estate investment trust (Reit) and strategic development partner in Waterfall City, said yesterday that its 70% held subsidiary, Attacq Waterfall Investment Company (Awic) had acquired the remaining 20% stake in Mall of Africa for R1.07 billion from the Atterbury Group. Awic currently holds an 80% stake in the asset. The Mall of Africa is one of South Africa’s leading super regional malls and anchors Waterfall City, a growing, large scale mixed-use precinct encompassing residential, logistics and collaboration hubs as well as two strongly performing hotels, all of which provide high volumes of quality foot traffic to the mall. As at December 31, 2023, the mall’s compounded annual trading density growth over the past three years was 16.1%, whilst its rent to turnover ratio was healthy…

THE WAIVING of visa requirements from some African countries has helped South Africa’s tourism sector to continue on a positive trajectory as the latest international arrival figures pointed to robust growth in the three months to March. According to Statistics South Africa, international tourist arrivals from January to March 2024 totalled 2.4 million, representing a remarkable 15.4% increase when compared with the same period in 2023. Data pointed out that South Africa welcomed 1.8 million tourist arrivals from the rest of the African continent during the period, marking a significant 74.5% of all arrivals. Zimbabwe and Ghana stood out for their remarkable growth, with Zimbabwe experiencing a 21.8% increase in tourist arrivals to South Africa when compared with the first three months of 2023, totalling 613 675…

IVORY Coast’s agricultural commo- dities exchange is in its pilot phase to provide farmers and processors with a platform so that they can boost economic growth in the West African country. Ivory Coast’s Minister of Agriculture, Rural Development and Food Crop Production, Kobenan Kouassi Adjoumani, yesterday said that there were 125 agricultural commodity exchanges worldwide of which 15 were in Africa. Speaking at the BRVM Investor Roadshow at the JSE yesterday, Adjoumani said Ivory Coast’s agricultural commodities exchange, the BMPA-CI, would initially trade only three crops, namely cashew nuts, maize and kola nuts. Ivory Coast is the world’s leading producer and exporter of cashew nuts, cocoa and kola nuts. Agriculture is responsible for two thirds of jobs, over 40% of export earnings and 25% of gross domestic product. The aim…

IN THE LATE 20th century, Denmark experienced a surge in anti-nuclear sentiment that ultimately led to the 1985 Moratorium, with more than 60% of the Danish voters opposing the construction of new nuclear facilities. Against this historical backdrop, it’s rather surprising that Denmark has unexpectedly become a focal point for introducing advanced nuclear technologies such as thorium molten salt reactors (TMSR) to the world market. In February 2024, I visited the facilities of Copenhagen Atomics, at the invitation of one of the DeepTech company’s four co-founders, Thomas Jam Pedersen, where I spent two days on their factory floor to see what the start-up was about. The facility is full of stainless steel components and there are dozens of engineers tinkering with the metals and instrumentation, trying out various configurations…

The majority of people who rent housing do so for financial reasons, with nearly half admitting they can’t afford to buy a property, while nearly 10% say a poor credit record prevents them from becoming homeowners, according to the latest National Tenant Survey by the credit bureau TPN. The annual report provides the property sector with insights into tenants’ needs, wants, aspirations, and challenges, allowing them to enhance property offerings and better understand future trends based on consumer inputs. More than 19 000 completed responses were received from tenants for the survey. High interest rates, inflation and restricted employment opportunities had a big impact on the ability of many people to own homes. Just short of 10% of the respondents said a poor credit record prevented them from becoming…

In 2016, Roxette performed in what was believed to be their last-ever concerts. Now, the Swedish pop rock group are ready to hit the road again and they will be making a stop in South Africa early next year. Roxette have announced that they will perform at the Grand Arena, GrandWest in Cape Town on February 26, 2025 and the SunBet Arena in Time Square in Pretoria on February 28. Roxette’s frontman, songwriter and founder Per Gessle, explained in a statement that their South African concerts as well as the rest of their international tour will include some of their classic hits, such as It Must Have Been Love and Listen to Your Heart. “This is all about my Roxette songs, this huge bundle of music and lyrics I’ve been…

A towering figure, a pioneer of black business and an embodiment of African development, Dr Sam Mokgethi Motsuenyane was yesterday celebrated by colleagues and peers at his memorial service at Gallagher Estate, Midrand. Speaker after speaker reflected on Dr Motsuenyane’s profound impact and the humility he embodied as a human being. Mokgethi Motsuenyane, speaking on behalf of the icon’s grandchildren, described him as a morally upright person. He stressed that his grandfather ensured they pursued and achieved everything they aspired to. “He loved when we had plans or initiatives that would advance the community. He once said he didn’t choose to be a leader; people chose him to be a leader.” Mokgethi said, as his grandchildren, they wanted to inherit their grandfather’s spirit of gratitude. Motsuenyane is known for founding…

The SA Federation of Trade Unions (Saftu) has urged the government to build houses for downtrodden people urgently to avoid another Usindiso tragedy. The union’s secretary-general Zwelinzima Vavi said that would resolve the question of illegal occupation of abandoned buildings, which were often in inhabitable conditions with no access to water, electricity or refuse collection. Vavi said every tenant living in dilapidated buildings would opt out and leave them simply because conditions in those buildings are not fit for humans. “It has been and it is still our contention that the government is the main culprit to be blamed for the tragedy at Usindiso Building because of negligence, failure to implement the (Joburg) city’s by-laws, and the ultimate crisis of housing that has gripped the city and the country at…

Fans of comedian Leon Schuster have showered the actor with well wishes after his second surgery. Schuster said he was “not in a good place” following a second operation after he fell at his house while recovering from the first surgery. Schuster, known for his pranks, underwent his first surgery in August last year after falling from a van and injuring himself while filming Mr Bones 3. Now he has fallen again. Adoring fans have come out to show support for the 72-year-old film-maker. Annabel Bailey commented on Facebook: “Strongs Leon Schuster so many people stand behind you praying for complete recovery and healing … God will heal you.” Wendy Barker Price wrote: “This is such sad news. We will keep you in our prayers.” In an interview with YOU,…

As far back as 2010, foreign nationals from various countries had decided to make South Africa their second home. They knew which inner-city buildings had been abandoned and each nationality took occupation of the many buildings. I got to know about this when my helper, a Zimbabwean, asked for a day off as she had been told about a Home Affairs official who had everything that was needed to produce SA IDs for foreigners. He was working from an office in Krugersdorp. My helper would be travelling with a friend from Zimbabwe who had just arrived and found accommodation in an abandoned building that housed Zimbabweans exclusively. The arrangement would take place before the individual travelled to SA. It has been 14 years since and you can imagine how much…

Another match day, another ‘muddied’ sequel that Orlando Pirates must win if they are going to keep their chances of finishing second in the DStv Premiership alive. Pirates will host Chippa United in a league match in Orlando tonight, four days after the two teams met in the Nedbank Cup semi-final in Gqeberha. The Sea Robbers sailed into their second final of the season – where they’ll meet Mamelodi Sundowns in Mbombela on June 1 – having won 3-1. But while Pirates claimed the win, their coach Jose Riveiro didn’t show sportsmanship, according to his counterpart Kwanele Kopo, as he allegedly used ‘abusive league’. Kopo was seething during his post-match media conference, claiming that the Spaniard used the F-word during heated exchanges. It’s not the first time that Riveiro…

WHILE the Glasgow Warriors are top of the URC standings, it is the Bulls who have scored the most tries in the tournament this season. Mind you, while Jake White’s team are on 68 touchdowns, Franco Smith’s Glasgow outfit are not far behind on 64. The glaring difference between the two teams, apart from the seven log points, is the fact that the Scottish side have conceded only 23 five-pointers, the lowest in the URC, compared to the Pretoria outfit’s 43, which is the highest among the top five teams. So, while the visitors may have their hands full trying to stop the Bulls attack at Loftus Versfeld on Saturday (2pm kick-off), the hosts need to find a way to keep the Glaswegians at bay as well if they hope…

SAPPI has reached a power purchase agreement with Nersa-licensed private electricity trading company Enpower Trading – the first agreement of its kind in South Africa – for 175GW/h per year of renewable power. The renewable power will enable the forestry, paper and pulp group to reduce its Scope 1 and Scope 2 emissions by 4% and 5% respectively, in South Africa. The companies believe also this first-of-its-kind agreement in South Africa will become a template for other similar agreements, which will also help to resolve the load shedding challenges faced by big companies in South Africa. The power supplied to Sappi would be sourced from SolarAfrica Energy’s Sun Central Photovoltaic (PV) project. SolarAfrica Energy, an integrated energy solutions provider, is establishing one of the largest solar farms in South Africa…

JSE EXECUTIVES said yesterday that they were doing all they could to slow the shrinkage of the bourse and encourage more listings. Their proactive initiatives included regular meetings with policymakers and measures to make it easier and less costly to list smaller companies. JSE executives faced tough questions from its shareholders at the annual meeting. There were sentiments if the JSE had lost the confidence of policy makers or had simply failed to let policy makers know that there was a problem with the stock market, the shrinkage of which could have a very real effect on the overall economy. For instance, a shareholder, Chris Logan, chief investment officer of Opportune Investments, questioned why the JSE board had not been able to get stock market supportive policies in place, as…

SOUTH Africa was one of the key destinations for investment, Mike Whitfield, the CEO of Stellantis South Africa, said yesterday. “If you want to capitalise on the future of Africa, you need to be in Africa, and you have to be in South Africa,” Whitfield told a media round table. Stellantis South Africa is part of Stellantis, a multinational automotive company formed in 2021 by the merger of Fiat Chrysler and PSA Group and is the world’s third largest car manufacturer by sales. Stellantis has well known brands such as Alfa Romeo, Chrysler, Citroën, Fiat, Jeep, Maserati, Opel, Peugeot, among others, and operates in 54 countries. He said a lot of people had asked why their firm planned to build a plant in South Africa. This as Stellantis’ R3…

IN 1997, SOUTH Africa joined the ma- jority of countries in the international community in ratifying the UN Framework Convention on Climate Change. This commitment to a multilateral solution to the global climate crisis brought with it responsibility to set our carbon dioxide emission targets through legislation, policy instruments and informed by the best available science. It has been a busy week for climate action as the National Council of Provinces (NCOP) approved the Climate Change Bill, paving its way for assenting by the President, a few days before the 6th Administration concludes its business ahead of the 2024 elections. With the Climate Change Bill now a done deal, it provides for the development of a long-term national greenhouse gas emissions trajectory and its review from time to time and establishes…

Cigarette maker British American Tobacco (BAT) has bought back 658 975 of its own shares at an average price of 2 370.66 pence (R550) from Merrill Lynch, as part of its buyback programme announced on March 18, 2024. The company, listed both in South Africa and the UK, was trading at 2 374p, up 0.81%, during morning trade yesterday. In South Africa, it was closing at R552.03, 0.84% up on the JSE yesterday. It will cancel the shares it bought. BAT has recently been waging a war on illicit cigarette makers. In the past year, BAT posted resilient financial performance and delivery as the group revenue on a reported basis was up 3.1% on an organic basis at constant rates. New Categories business turned profitable…

A war of words has erupted between the City of Joburg and Eskom as the municipality has blasted the state-owned power utility for taking it to court over a more than R1 billion debt. In a statement yesterday, the city said it was “taken aback by Eskom’s decision to drag the courts into forcing it to pay an amount of R1bn, while the national power utility owes R3.4bn in overcharges over the years”. This comes after Eskom on Monday announced that it had no choice but to take the City of Joburg-owned electricity utility, City Power, to the Gauteng High Court, Johannesburg, over its R1bn in debt. According to SA News, a government news agency, Eskom is owed R4.7bn by Gauteng municipalities. However, Eskom said City Power started defaulting on…

An alleged illicit mining kingpin wanted in connection with 29 murders has been killed in a shoot-out with police. The suspect died in the gun battle in Jabulani, Soweto, at the weekend. National police spokesperson, Brigadier Athlenda Mathe, said a team in Gauteng, led by the National Intervention Unit (NIU), traced the suspect to Soweto. “The deceased suspect, a Lesotho national, has been linked to at least 29 illegal mining-related murders in Florida and Nomzamo in Soweto where 16 people were killed at a local tavern. “During the tracing operation, the Lesotho national was shot and killed by police after pointing a firearm at police and resisting arrest at his hideout in Soweto.” The investigations form part of Operation Vala Umgodi, the government’s response aimed at preventing, combating, and putting…

TSHWANE residents have expressed mixed reactions to the e-panic button app that was introduced by Gauteng Community Safety MEC, Faith Mazibuko, at a crime imbizo. Soshanguve resident Thabang Moloi said their concern with the e-panic button was that when police have to respond to the crime in the area, they may not respond. “As a resident, I am not sure if the app will help in the fight against crime because we have police officers in our area who are working with the criminals,” he said. Another resident, Mamiki Malebe, said she believes the app will help in her area, where lots of crime is committed, including robbery. “The government should also give us mobile panic buttons that do not need the internet to operate, because of…

Nestled amid the majestic northern Drakensberg mountains, midway between Durban and Johannesburg, is the aha Alpine Heath Resort & Conference Centre – one of the country’s premier getaway destinations. This award-winning, four-star, self-catering mountain village promises guests an unforgettable time away. Families and nature lovers can explore their surroundings with this luxury Drakensberg accommodation as a home base. Superbly equipped deluxe chalets promise guests breathtaking views of southern Africa’s highest mountain range. Enjoy a range of sports and leisure activities for all ages, offered on-site, or spoil yourself with a treatment at the stunning Be Spoilt Beauty Salon & Spa. Whether it’s for a day, a weekend or even longer, booking your stay at Alpine Heath promises an unforgettable time away! aha Alpine Heath Resort and Conference Centre offers guests…

South Africa welcomed 1.8 million tourist arrivals from the rest of the African continent between January and March 2024, marking a significant 74.5% of all arrivals. This is according to the monthly statistical release from Statistics South Africa (Stats SA), which provided information on South African residents and foreign travellers who entered or left South Africa in March 2024. Details of travellers’ mode of travel; purpose of visit; age and gender distribution are also provided in the StatsSA report. Highlights of the results released by Statistician-General Risenga Maluleke show that in March, 2 710 991 travellers (arrivals, departures and transits) entered and exited South Africa. The travellers were made up of 776 848 South African residents and 1 934 143 foreign travellers. For South African residents there were 366 237…

BE in their faces, produce better set-piece ball for the backs and control the tempo of the game. Those are the three key areas Barend Pieterse feels the Lions must get right to knock over Cardiff at Ellis Park on Saturday (6.15pm kick-off). The Johannesburg side’s URC play-off hopes are up in the air following their 33-13 defeat to Munster a few weeks ago, and they are now in must-win mode to have any chance of making the top eight and qualifying for next season’s Champions Cup. Coach Ivan van Rooyen’s team are 11th on the URC log with 39 points, while eighth-placed Benetton, who take on the Sharks in Durban on Saturday, are on 44. So, while forwards coach Pieterse said yesterday that “the top-eight dream is still alive…

ONLINE retail giant Amazon.com, which started as a bookseller in 1995 out of founder Jeff Bezos’s garage, launched a South African shopping portal with a .co.za domain yesterday as it seeks to capture some of the more than a third of South African adults who shop online. Amazon.co.za is promising shoppers a reliable online shopping experience featuring great value, including same-day delivery, more than 3 000 pick-up points, easy returns, 24/7 customer support and free delivery on first orders either via its app or in a browser. Amazon managing director of Sub-Saharan Africa, Robert Koen, said they were excited to launch Amazon.co.za, along with thousands of independent sellers in South Africa. nlightencx marketing specialist Mathabo Sekhonyana added that Amazon was viewed as having strong brand credibility and a reputation…

SOUTH African consumers’ disposable income was being eroded by persistently high interest rates and inflation (especially food inflation) while a lack of any meaningful economic growth was constraining their salaries. This was revealed in the DebtBusters First Quarter 2024 Debt Index released yesterday. The quarterly analysis of data from debt-counselling applicants also found that demand for debt management increased, with debt-counselling enquiries rising by 22%, and the use of online debt management services up by 30% compared with the same period last year. DebtBusters executive head Benay Sager said the impact of increased interest rates on asset-linked debt was particularly evident in the above 40 years category. “What also continues to be apparent is how higher-income earners are using credit to offset the dual impact of inflation and interest rates…

ESKOM breaks the historical mile of its plant performing consistently at more than 60% benchmark in energy availability factor. The remarkable achievement comes after Eskom performed dismally for many years. The recent over-performance is due to power plant maintenance, repairs and refurbishment and should duly be credited to the most able team at Eskom, starting with the board of directors led by Dr Nathi Mthetwa, who is championing the generation recovery strategy at Eskom, and the executive team led by Group CEO Dan Marokane, together with Bheki Nxumalo, the group executive for generation. The team seems to be delivering way beyond expectations, given that Eskom is in its 42nd day of not implementing load shedding. This is an indication of true management and the Eskom employees and power plant staff…

KORE POTASH, the JSE- and AIM-listed developer of the commodity mainly used in agriculture and industrial chemicals, will list on South Africa’s A2X Exchange this month. With potash development projects that include Kola and DX Potash in the Sintoukola basin of the Congo Brazzaville, shares in Kore Potash will start trading on the A2X Exchange next week. “Potash is pleased to advise shareholders that the company’s ordinary shares have been approved for inclusion in the list of qualifying equity securities to be traded on the A2X Exchange,” the company said yesterday. The A2X Exchange provides a secondary listing avenue for companies and is regulated by the Financial Sector Conduct Authority and the Prudential Authority of the South African Reserve Bank.Kore Potash said its listing on the A2X Exchange “will provide…

The SA Democratic Teachers Union (Sadtu) demands teachers and learners be treated with equal fairness when held to account for school violence. South Africans were left shell-shocked when a video on social media platforms showed a teacher and a learner embroiled in a scuffle. The Gauteng Education Department has launched an investigation following the fight between a teacher and a Grade 9 pupil at Glenvista High School, south of Joburg. In the video, the learner and teacher are trading blows in a classroom, in front of other learners. The pair also throw desks at each other, damaging school property. The incident has been widely condemned. On Monday, Sadtu, which represents more than 250 000 teachers and workers in the education sector, said the department must exercise fairness to ensure the…

The National Council of Society for the Prevention of Cruelty to Animals (NSPCA) has requested the Fairy Glen Nature Reserve to provide its nature conservation permit and licence in terms of the Performing Animals Protection Act 24 of 1935. This, after the NSPCA became aware of an approximately 43-year-old elephant bull that has been in solitary confinement and has been confined since 2008. The reserve also made headlines earlier this year after three lions were left suffering after sustaining serious burns when raging fires hit the Western Cape in February. The NSPCA said almost four months later and CapeNature has yet to respond on the reserve’s compliance with nature conservation and animal exhibition laws, citing: “CapeNature confirms that every effort is being made to facilitate compliance and, while the entity…

Arguably the biggest surprise before this year’s election is that former president Jacob Zuma, made an unexpected political comeback and announced he would be endorsing and campaigning for a new political party, the uMkhonto we Sizwe Party (MKP). Cunningly named after the ANC’s armed paramilitary wing which operated during the Struggle against apartheid, the nascent party appears to be growing, with support from the many followers and sympathisers of Zuma. The question before this year’s pivotal national and provincial elections is what impact, if any, the development will have on the future fortunes of our country. After much reflection, I conclude that it poses a great threat for reasons other than the man who is the face and driving force of the party. While much attention has predictably been given…

Erik ten Hag insists he is the man to revive embattled Manchester United after they hit a new low against Crystal Palace. But will he even be there for the FA Cup final? Monday’s embarrassing 4-0 defeat at Selhurst Park left the team languishing in eighth place in the Premier League and increasingly unlikely to qualify for Europe next season. The bare statistics make grim reading for United fans and show how far the 20-time English champions have fallen since they dominated under Alex Ferguson more than a decade ago. They have now lost 13 games for the first time in the Premier League era and have conceded 81 goals in all competitions – the highest number in a single campaign since 1976/77. United have only failed once to qualify…

Kaizer Chiefs legend Siphiwe Tshabalala has urged the club to protect rising star Mfundo Vilakazi and their other youngsters in order to return the club to its former glory. The Soweto giants are nearing the end of yet another disappointing season, having failed to win silverware in nearly nine years, a travesty for a club renowned for being ‘cup kings’ in the country. With four games of the 2023/2024 campaign remaining, Amakhosi sit in eighth spot in the DStv Premiership standings and are at risk of missing out on the MTN8 tournament next season for the second time in the past seven years. The club have always been lauded for their ability to unearth raw talent and polish them into continental stars but that trend seems to have hit a…