Innholdsfortegnelse for 2024-06-03 i Star

DIS-CHEM Pharmacies raised its final dividend 22% to 22.49 cents a share in the year to March 1, 2024, after headline earnings a share fell slightly, mainly due to an imbalance in six month performances in previous years. Shares had dipped 4.63% to close at R31.28 on the JSE on Friday, but the price is nonetheless a massive 44% higher than a year before. The company said on Friday that it would invest in OneSpark, a life insurance business that Dis-Chem said possesses “the experience, capability and proprietary technology to offer transformative insurance products that align to the better health mandate of the Dis-Chem brand”. Dis-Chem’s R156 million share subscription investment would result in it holding a 50% stake in OneSpark. OneSpark was established by a team of actuaries…

IN SPITE OF fuel prices in South Africa forecast to experience a significant decline in June, motorists could soon find themselves digging deeper into their pockets as oil-producing countries are set to ramp up the international price of Brent Crude oil. This comes on the back of the Organisation of the Petroleum Exporting Countries and its allies (Opec+) meeting where members agreed to extend oil supply cuts into 2025, and review voluntary cuts of 2.2 million barrels per day which are set to expire at the end of June. Opec+ Ministers met in Riyadh yesterday where Saudi Arabia and its partners were widely expected to prolong supply cuts into the second half of 2024 and implement deep cuts in 2025. Oil-producing countries such as Saudi Arabia, Kuwait, United Arab…

NEDBANK Group said consumer strain and slowing credit and transactional revenue growth across both wholesale and retail portfolios was the result of a weak economy in the first four months of 2024. Headline earnings grew by around mid-single digits in the four months to April 30, compared with the same time last year, supported by strong growth in Retail and Business Banking, albeit off a low base, and solid growth in Corporate and Investment Banking, partially offset by a decline in headline earnings in Nedbank Wealth and Nedbank African Regions. The lender said in a trading update on Friday the economy had been weak, despite lower levels of load shedding and the easing of some transport bottlenecks. Economic activity had been impacted by geopolitical uncertainty, high interest rates and high…

ICT INVESTMENT group Ayo Technology Solutions (AYO) managed to cut its losses by a significant 62%, to R98 million, in the six months to February 29, setting it up with the prospect of a solid second half. The improved performance, which saw its share price increase as the market closed for the weekend, was largely due to the embedding of restructuring and ongoing cost containment measures under a leadership team who took over the reins a year ago. The results were positively received by shareholders, as the share price increased 4.26% to 49 cents at the close of the market on Friday, outstripping the All Share Index’s overall decline of 0.59%, The improved results were also despite only a slight increase in revenue to R1.02 billion, from…

AT LEAST six people have died following heavy downpours which resulted in high water levels and severe flooding in parts of Gqeberha and Kariega, Eastern Cape, at the weekend. Among those killed was an 18-year-old woman from Kabah, Kariega, whose body was found in Kamesh, and that of a man, 62, also in Kariega. In KwaNobuhle, four people died including a 3-year-old girl, and three men aged 47, 62 and 41. The storm, which hit the Nelson Mandela Bay municipal areas on Saturday night into yesterday, saw widespread devastation including infrastructure damage, loss of life, a number of people reported missing and injured, a fire station submerged, vehicles washed away, with major risk to low-lying houses. More than 1 100 residents were evacuated to places of safety. A mother of…

AS THE country comes off a high-level campaign and voting season, when all attention was turned to the elections, medical stakeholders have urged the government to urgently turn its attention to the health of the country. This as a second case of the highly contagious and often deadly Mpox virus reared its ugly head once again, and as many people complain of a cold and flu strain they are struggling to fight. With winter being typically cold and the flu season, it was expected that cases might be on the increase. However, according to both the Department of Health and doctors, the current recorded incidence has been above normal. Said the department last week: “A number of flu strains are circulating, causing severe health complications in some patients.” They acknowledged…

AS THE excitement builds for one of Africa’s finest horse racing events, the Hollywoodbets Durban July, six designers have secured a spot to participate in the Hollywoodbets Durban July Invited Designer Showcase, presented by Durban Fashion Fair. The designers, including two from Joburg, will present their interpretations of the theme “Ride the Wave”. Last year guests embraced the theme “Out of This World”, which brought attendees from various walks of life together in eye-catching garments. This year’s line-up includes four Durban designers, well-known rockstars Karen Monk-Klijnstra and Kathrin Kidger, and two newbies, Kwenzi Khomo and Makhosi Ntshangase. The Joburg designers are Vanya and Thando Mangaliso, a husband-and-wife pair, and Thula Sindi. Hollywoodbets Durban July fashion programme director Tiffany Prior said people should brace themselves for something creative. “I think between…

Helen Zille knows a lot of things. Asked about the possibility of a coalition between and among the ANC, MKP and EFF, she did not hesitate to state that she will not allow such coalition to form. She did not share how she seeks to execute such an onerous plan nor did she expose her strategy on how she will prevent it from happening. As the elections were drawing closer to the appointed date, Zille’s party wrote to the White House in the US, pleading for their intervention by sending monitors during elections, a request not consistent with the established electoral rules of the Republic. It is equally uncertain what role those specific monitors would have played differently from the role of the officially invited lot. Ostensibly, bringing their power…

Real Madrids record-extending 15th Champions League triumph will leave incoming French superstar Kylian Mbappe licking his lips at what lies ahead for him. The 25-year-old forward has been unable to win the competition with Paris Saint-Germain in seven years at the French club. Set to join the Spanish giants in the coming days, Mbappe saw the sheer winning mentality of Madrid harnessed in the 2-0 win over Borussia Dortmund at Wembley on Saturday. The German side defeated Mbappe’s PSG in the semi-finals but despite being outplayed, Madrid managed to escape from London with yet another Champions League trophy. Signing for the new Spanish and European champions will give Mbappe the greatest chance of winning silverware and the game’s top individual awards in the years to follow. Mbappe has seemed destined…

SOUTH Africa recorded an improved pre- liminary trade balance surplus of R10.5 bil- lion in April, the SA Revenue Service (Sars) said on Friday. This surplus was attributable to exports of R169.5bn and imports of R159.1bn, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia. The result was ahead of consensus (Bloomberg) of an R8.1bn surplus. The year-to-date preliminary trade balance surplus of R26.6bn was an improvement from the R6.7bn trade balance surplus for the comparable period in 2023, Sars said. On a year-on-year basis, export flows for April at R169.5bn were 4.2% higher from the prior year, while import flows were 0.8% higher at R159.1bn. Sars said export flows increased in April, driven by platinum group metals, gold and passenger vehicles. Imports flows increased on the back…

SOUTH Korea will aim to secure critical mineral imports and boost trade ties with Africa as President Yoon Suk Yeol hosts dozens of Heads of State from the continent at a major summit tomorrow. Africa’s abundant mineral resources are considered important globally for sectors ranging from electric vehicle manufacturing to defence industries. South Korea is one of the world’s largest producers of high-tech semiconductors, and home to top memory chip makers Samsung Electronics and SK hynix. The East Asian country “is a high-tech manufacturing powerhouse, but it relies heavily on imports for more than 95% of its raw mineral needs”, Yoon told AFP in written comments provided by the president’s office. From cobalt to platinum, countries across Africa have deep reserves of the critical minerals needed to power the semiconductor…

ONE HUNDRED and twenty-one billion rand – that’s the amount of money KwaZulu-Natal has been allocated in this year’s budget. It rises to R126bn next year and to R132bn the following year. That money will be handed to former president Jacob Zuma’s MK Party and whoever they coalesce with in KZN if a sensible national coalition is not formed. A very deep trough for some very large snouts. In 2023, R312bn was exported through Durban port and another R213bn was exported through Richards Bay. Both of these numbers are far, far lower than they should be because, well, the ports are broken. The more interesting statistic are the exports of R143bn through Komatipoort, the road border post into Mozambique, up 160% from 2019. By comparison, the exports through Durban rose…

HIGH-LEVEL, cutting-edge science in South Africa is finding its place in nuclear medicine. Probably had this technology been available in 1964, my mother’s life together with many others whose lives we lost could have been saved. This science is poised to open pathways that can change the course of the country and the continent of Africa. States that have advanced rapidly and are developmental did so successfully by being brutally and unapologetically determined to march and hold hands in pursuit of resolving the science-policy interface. While institutions that boasted this advancement have become a sorry shadow of their erstwhile selves in most cases, however, here at home there are those who have had the luck of responsible leadership. They fought hard to stay the course against dwindling budgets and poverty…

BORN Into Fame is a new reality show about six South African kids who have grown up in the spotlight, thanks to their celebrity parents. The show features the offspring of award-winning musicians Arthur Mafokate, Robbie Malinga and Ringo Madlingozi, TV personality Azania Mosaka and music producer DJ Tira. Born Into Fame is produced by GOAT Productions, the same company that gave viewers shows such as Unfollowed, which was one of the 10 most-streamed South African shows on Showmax in 2023, the award-winning Life With Kelly Khumalo, and The Real Housewives: Ultimate Girls Trip. According to a statement from the streaming platform, Born Into Fame follows the youngsters as they try to live up to their family legacies while discovering their own paths to success. Here’s who you can…

“Ole, Ole, Ole, we are domestic cup champions once again!” That’s the general feeling of every Orlando Pirates supporter – the Ghost – after their team won the Nedbank Cup crown, beating rivals Mamelodi Sundowns 2-1 at a sold-out Mbombela Stadium on Saturday afternoon. The victory was sweeter for the Sea Robbers that it came by beating the best team in the land, having Mamelodi Sundowns who have been crowned the DStv Premiership champions for a record-extending seventh time in a row two weeks ago. That’s not all. This was not only Pirates’ second trophy of the season, having beaten Sundowns, albeit via penalties, in the MTN8 final in October, but the fourth in two years. Pirates had also won the two competitions last season – the Wafa Wafa and…

Johannesburg Water says one of its systems, the Commando System, has not recovered after the power supply at Rand Water’s Eikenhof pump station and Vereeniging Treatment Plant was affected last week. The water entity said the issue has left areas such as Hursthill, Crosby and Brixton without water. “Bulk supplier, Rand Water, has agreed to pump an additional 100 megalitres overnight to boost capacity in this system,” Joburg Water said in a statement. “Johannesburg Water will also continue with closing the Hursthill 2 reservoir outlet overnight, to boost capacity for Sunday (yesterday).” The entity said two meters in Sandton were closed last night as part of its water demand management strategy, and to provide relief to the overall system. The systems were closed from 7pm last night until today.…

While traditional marketing initiatives, such as above-the-line advertising, play an important role in creating brand awareness for a new business, public relations (PR) can play an important role in shaping and sustaining brand identity, fostering credibility and building trusted consumer relationships, says Bonnke Shipalana, founder and group CEO of Johannesburg reputation management company, The Allure Group (TAG). Shipalana is a seasoned marketer and PR practitioner who recently partnered with Independent Media to launch the first-of-its-kind event dubbed Building a Brand Through PR Masterclass. The pioneering initiative seeks to give fledgling small and medium-sized businesses the tools to effectively use PR to craft their brand narrative, ignite excitement about their brand, create a brand following, and hopefully, drive sales. The day-long masterclass, which will be hosted at the DP…

UMKHONTO weSizwe Party member Bongani Mkhwanazi has been described as a loving person who cared about everyone’s well-being. Speaker after speaker at Mkhwanazi’s funeral yesterday described him as a man with a big heart and a dedicated member who was prepared to die for the party. Didimalo Bodibe, an MKP youth league member, said they were saddened by his death. “Mkhwanazi was like a brother to us, he was protective. He had lots of love. We have lost a soldier. Our comrades died while wearing regalia… They died like Struggle icons such as Chris Hani, Solomon Mahlangu and others,” she said. Mkhwanazi, 32, and a friend, Xolani Nzimande, were gunned down last Sunday while wearing their party regalia in Katlehong, Ekurhuleni. According to Gauteng police, the two were killed in…

Ingredients For the Marinade: 80ml Worcestershire sauce 80ml tomato sauce 15ml brown sugar 15ml curry powder 2kg Oxtail Salt and black pepper, to taste For the Stew: 1 onion, roughly chopped 2 large carrots, peeled and chopped 4-6 garlic cloves, finely chopped 3cm ginger, peeled and finely chopped 15ml smoked paprika 3 bay leaves Fresh thyme, to taste 1 fresh red chilli, to taste 250ml beef stock 250ml water 180ml dried apricots 1 can cannellini beans, drained and rinsed To Serve: Cooked wild rice, to serve Fresh parsley, to taste Dried apricots. | Food Lover’s Market…

IT GROUP EOH Holdings, which was under pressure from its shareholders to change its board, on Friday announced a board shake-up and the resignation of its interim CEO and chairperson, Andrew Mthembu. Marius de la Rey has been appointed as interim CEO. Mthembu was appointed interim CEO following EOH CEO Stephen van Coller’s resignation on March 31. Van Coller was appointed in 2018 to clean up corruption at the firm after an ENSafrica investigation into EOH’s dealings revealed many instances of governance failings and wrongdoing. Fatima Newman has stepped down as an executive director, but will remain in her capacity as the CEO of EasyHQ, and Bharti Harie has resigned as independent non-executive director. Veronica Motloutsi has been appointed as independent non-executive director, Dennis Venter has been appointed as non-independent…

AGRISA says it hopes government’s “vigorous” development of water- related legislation and policy will be carried over into the country’s seventh administration, regardless of the outcome of this year’s national and provincial elections. South Africa’s biggest agricultural organisation said on Friday that the sixth administration would be remembered as a particularly energetic one when it came to water governance, but noted that most of the proposed legislative and policy changes of the past five years remain unfinalised. According to AgriSA, the developments left hanging include the conver- sion of irrigation boards to water user associations; hydraulic fracturing regulations; the pricing strategy on raw water charges; regulations regarding the procedural requirements for water use licence applications; and, the Na- tional Water Amendment Bill. It said another major concern was…

ALTHOUGH there is still no evidence of the direct effect of the outcome of the national elections on South African financial markets, it seems negative global sentiment contributed to the large contraction on the JSE and the sharp depreciation of the rand exchange rate last week. Global equity prices as well as emerging markets’ foreign exchange rates suffered the same fate. Most global bourses in general and US equity experienced large outflows for the first time in four weeks over the past seven market days. Stock markets were hit by rising bond yields and uncertainty over the timing and extent of US Federal Reserve interest rate cuts. Net outflows from US equity funds amounted to $7.6 billion (R140.5bn) last week. At the same time, the yield on the 10-year…

Lenny Kravitz has been celibate for nearly a decade. The American Woman rocker, 60, renowned for his womanising and whose exes include his former wife Lisa Bonet, 56, says his choice is “spiritual” as he waits for the right woman – and admitted he has become so set in his ways he may struggle to have a relationship today. He told The Guardian about not having been in a “serious relationship” for nine years: “It’s a spiritual thing. I have become very set in my ways, in the way I live.” Kravitz also spoke about a passage in his autobiography where he revealed he was disgusted by overhearing his father on the phone talking to a woman he realised was his mistress. When he told his NBC TV producer…

ANC secretary-general Fikile Mbalula told scores of reporters at the Results Operations Centre in Midrand yesterday that President Cyril Ramaphosa was going nowhere. Mbalula said anyone who wanted to negotiate with the ANC on condition that Ramaphosa should leave would not be negotiating in good faith. “If you come to us with the demand that Ramaphosa must step down as president, that is not going to happen. We are not going to engage with political parties based on who they want, who they don’t want. We have many reservations about the MK Party (MKP) but we will talk to them,” Mbalula said. The ANC would not allow another party to dictate terms to it, Mbalula said. He said the ANC had come out of the elections with a clear mandate…

In a heartwarming departure from the adage “curiosity killed the cat”, Lynnwood Ridge Primary School demonstrated how curiosity can build a nation. The school’s foundation phase learners held their thrilling election, sparking excitement and learning among the youngsters. The spark for this event was ignited by the learners themselves. Curious about the May 29 election, they inspired the foundation head of department, Beverly Forrest, to faciliate a child-friendly voting process. This initiative allowed them to elect a Foundation Phase Mascot, a symbol that will be proudly displayed at school assemblies and essential gatherings. The enthusiasm was infectious, leading the Senior Phase head Celest Marks to organise a similar election for the Grade 7 learners to choose their final primary year activity. In a practical civics lesson, Forrest and Marks…

Kotex, a menstrual hygiene product manufacturer, has launched the inaugural “P-Word” Survey on World Menstrual Hygiene Day 2024, aiming to understand women’s interactions with menstrual cycles and societal attitudes. According to the survey, while women’s feelings and experiences with their menstrual cycles appear to be evolving from negative to neutral and even positive, stigma persists in communities. In addition, South Africa continues to struggle with access to menstrual products and information. Stigmatisation still exists It is revealed that in spite of initial changes in women’s perception of menstruation, 43% still experience stigmatisation and shame, particularly among those aged 18 and younger. Thirty-eight percent of women believe religious and cultural beliefs influence their menstrual perceptions and practices, while 12% have negative perceptions. Cultural taboos, such as restrictions on cooking and touching…

The ANC is not getting used to its tendency to produce results it does not like. It is getting surprised by the same thing every five years. The decline in the ANC share of the national vote has been happening since 2009. In each case, among the key reasons for this trend has been something to do with the ANC itself. Internal ructions within the ANC following its Polokwane conference in 2008, where then-president Thabo Mbeki failed to win a third term in the party due to a challenge by his deputy, Jacob Zuma, caused the party to bleed support and loose cohesion ahead of the 2009 elections. The Congress of the People Party that splintered from the ANC after Polokwane won an unprecedented 1 million votes off the…

While the Bulls will be sweating on a few injury concerns for Saturday’s United Rugby Championship quarter-final, coach Jake White said he was proud his team have given themselves “a really good chance to win this competition”. The Pretoria side just missed out on topping the URC log, having seen off the Sharks 26-14 in a hard-fought bonus-point triumph at Kings Park last Saturday to end the league phase on 66 points. That means the Bulls will now host Benetton in the quarter-finals at Loftus Versfeld on Saturday (3.30pm), and will also play in Pretoria if they reach the semi-finals. White was particularly delighted with the grit shown in defence, and how the front row of Gerhard Steenekamp, Johan Grobbelaar and Wilco Louw got the edge over the much-vaunted Sharks…