Innholdsfortegnelse for 2024-06-05 i Star

STANDARD Bank CEO Sim Tshabalala yesterday said that business will have to get on with life and adapt to the new post-election environment, no matter which coalition government emerges. This comes as political parties are engaged in crucial discussions about forming a coalition government before Sunday next week’s deadline after the ANC lost its parliamentary majority for the first time since 1994. Tshabalala yesterday said it was not up to business to figure out the permutations of the future, but what business can do was to imagine what the possibilities were and make sure that it was able to respond. “If you’re a democrat and you respect the Constitution of the Republic of South Africa, you have to accept what the electorate says and you have to run your business…

A SIT-IN PROTEST by more than 200 mineworkers has erupted at Sibanye-Stillwater’s Kwezi Shaft in Kroondal, Rustenburg, although the National Union of Mineworkers (NUM) claimed that its members were being forced to remain underground by other employees. As many as 211 employees re- mained underground, starting the morning of June 3. At another shaft, K6, there was further disruption to the night shift, with about 250 employees “gathering in a central waiting place” on the surface, according to Sibanye-Stillwater, which confirmed the protest actions. “This unfortunate turn of events transpired following the annual payments made to beneficiaries of the Rustenburg and Marikana employee share option schemes (Esops) on Friday, June 1, 2024,” Sibanye-Stillwater said in an emailed statement. “The striking Kroondal employees are reportedly aggrieved to not have received Esop…

A RESPITE in the fuel price today comes just in time for families looking forward to the upcoming school holidays. This is according to Lebo Ramolahloane, the vice chairperson of the SA Petroleum Retailers Association, representing the interest of numerous petroleum retailers in South Africa and a proud association of the Retail Motor Industry Organisation. He said motorists could look forward to a significant fuel decrease thanks to a strengthening rand against the US dollar and lower prices for Brent Crude oil. The decreases are as follows: ■ ULP 95: R1.24 decrease. ■ ULP 93: R1.24 decrease. ■ 500ppm Diesel: R1.19 decrease. ■ 50ppm Diesel: R1.09 decrease. ■ Illuminating Paraffin: R1.07 decrease. ■ LP Gas: R1.35 per kilogram decrease. “The reduction will also positively…

TODAY marks 51 years since the decla- ration of World Environment Day by the UN at the Stockholm Conference on the Human Environment from June 5 to 16, 1972, that had resulted from discussions on the integration of human interactions and the environment. This year’s World Environment Day focuses on land restoration, desertification and drought resilience, under the slogan “Our land. Our future. We are #GenerationRestoration”. The first World Environment Day in 1973 was held under the theme “Only One Earth” and has since been marked on June 5. The day has, post-apartheid, coincided with South Africa’s Youth Month and a broad-based campaign pegged as Environment Month in South Africa. Today’s slogan resonates well with the 1973 alert of “Only One Earth”, as we can, without doubt, witness the state…

PAN AFRICAN Resources has struck a five-year wage deal with the National Union of Mineworkers (NUM) for its Barberton mines operation, covering the period June 2024 to June 2029. JSE-listed Pan African is a mid-tier, African-focused gold producer, also with a primary listing on the AIM of the London Stock Exchange. Under the latest agreement an- nounced yesterday, Pan African and NUM agreed to an average annual increase of approximately 5.3% per annum over the specified five-year period. “We are pleased to have entered into multi-year wage agreements at Barberton Mines, which will ensure stability in labour relations at this operation over the coming years,” said Cobus Loots, Pan African Resources CEO said. The gold miner also has a standing five-year wage agreement that lapses in June 2026 with labour…

SHORT-TERM insurer Santam said yesterday that it had received hundreds of claims relating to damage caused by severe weather conditions in the Eastern Cape over the past few days. At least nine people died and more than 2 000 households were displaced after heavy rains battered Nelson Mandela Bay, and flash floods wreaked havoc in Buffalo City over the weekend. Residents of Old Lapland in Kariega in the Nelson Mandela Bay Metro were evacuated from their homes as a precautionary measure. Santam’s head of non-motor claims, Rowland Ramalingam, said they had activated Catastrophe Claims Management protocols, which require the insurer to deploy personnel to affected areas to service policyholders, and expedite the filing of claims. Ramalingam said Santam had received more than 254 claims for damage to property…

Former National Assembly speaker Nosiviwe Mapisa-Nqakula will for now remain the only accused to face 12 counts of corruption and money laundering, emanating from the time when she was defence minister, after the prosecution decided not to charge a second person alongside her. Mapisa-Nqakula made her second appearance yesterday in the Pretoria Magistrate’s Court, where her case was postponed to July 9. Lead prosecutor Bheki Manyathi told the court that the case will be transferred to the Gauteng High Court, Pretoria. Mapisa-Nqakula and her legal team will on this occasion be served with a formal indictment, setting out the exact nature of the charges against her, including a small summary of the State’s case. The indictment will also contain the names of the witnesses who are due to testify in…

King Misuzulu KaZwelithini has applauded the Electoral Commission of South Africa (IEC) for running free, fair and credible elections. The king also commended all political parties for conducting themselves in a peaceful manner during campaigning, and on election day. He called on law enforcement to deal firmly with those who sought to incite political instability and mayhem post the release of election results. The king further instructed all izinduna in hostels around Gauteng and Durban to report any violent behaviour. The call comes amid complaints of vote-rigging by the Umkhonto weSizwe Party (MKP) and other parties. MK Party leader Jacob Zuma on Saturday evening led a group of more than 20 small parties, which had lodged more than 500 objections to the commission, at the IEC’s results centre, in demanding…

SAA has agreed to pay the $300 000 (about R5.4 million) civil penalty imposed by the US Department of Transportation (US-DOT) to avoid protracted litigation over delayed refunds to passengers for cancelled flights during the Covid-19 pandemic. This is as the US-DOT on Monday announced enforcement actions against SAA, Germany’s national carrier Lufthansa, and the Netherlands’ carrier KLM Royal Dutch Airlines, f or extreme delays in providing more than $900m in refunds owed to passengers due to flights cancelled or significantly changed in response to the pandemic. SAA was sanctioned to pay $15.2m in required refunds and $300 000 in civil penalties. Lufthansa was sanctioned $775m in required refunds paid and a $1.1m penalty, while KLM was fined $113.3m in required refunds paid and a $1.1m penalty. In a statement…

University of Pretoria (UP) scientists have contributed to discovering how the naked mole rat is able to withstand heart attacks and fend off bowel cancer, two of the most fatal human ailments in the developed world. Their findings were published recently in two Nature Communications papers. Professor Nigel Bennett and Dr Daniel Hart, co-authors on both papers and experts in mole rat evolution at UP’s Department of Zoology and Entomology, say the findings add to a long list of mole rat “superpowers” that have already been discovered, including slower ageing, natural contraception and the ability to bypass pain responses. “The main reason we believe mole rats have these ‘superpowers’ is because they live in such harsh environments underground,” Hart says, adding that there is very little oxygen underground and that…

With Rosebank known to be the epicentre for sophisticated pubs and dining establishments, Obscura Cocktail Bar is already carving itself a name as one of the must-visit classy joints in the trendy suburb. The setting overlooks a busy street, presenting a vibrant and visually appealing experience. Behind the excellent bar is mixologist and operational owner/director George Hunter, who began as a barman and has progressed to become an owner with many belts. The Star sat down with the amiable and animated Hunter, to chat. “I started bartending in 2014. I started at Hardrock Café. My right man here today was a bartender with me from those days. So a lot of the staff are guys that I have worked with for years. They are like family to me. It…

Real Madrid wrestled the Spanish title back from Barcelona at a canter this season and, after claiming a record 15th Champions League, their signing of world football’s biggest star Kylian Mbappe rubs yet more salt in their rivals’ wounds. Los Blancos’ addition of Mbappe to an already star-studded squad is a striking statement of intent and could tilt the domestic balance of power even further in Madrid’s favour. Barcelona, grappling with self-inflicted debilitating financial challenges, cannot keep up in the arms race with Madrid. Mbappe arrives for free at the end of his Paris Saint-Germain contract, but Barcelona would not be able to afford the 25-year-old’s lavish salary or signing-on fee. Over the past decade Barca squandered hundreds of millions of euros on failed signings, including Philippe Coutinho, Ousmane Dembele…

Safa and CAF continue to do their part in aiding the professionalism of the PSL and Hollywoodbets Super League clubs after bringing the Club Licensing Online Platform (CLOP) to South Africa. The implementation of the club licensing regulations helps to professionalise clubs and leagues, says CAF head of professional football Muhammad Sidat. Sidat and his team are on a three-day seminar in SA in partnership with Safa, in which they are conducting the CLOP workshop. This workshop will be used to offer in-depth training sessions on the CLOP to clubs from the PSL and the Hollywoodbets Super League. Representatives from some of the PSL clubs – which includes the top flight and second-tier division – and Super League attended the first training session yesterday at the Hilton Hotel in Sandton.…

AN UNEXPECTEDLY moribund economy was reflected in the 0.1% decline in first quarter gross domestic product (GDP), and it was likely to remain stagnant for the rest of the year, barring a boost from the global economy, economists said yesterday. “Surprising slightly on the downside, SA’s GDP print contracted 0.1% quarter-on-quarter. Weaker manufacturing, mining and construction drove much of the downward momentum on the production (supply) side, while the expenditure (demand) side witnessed a decline across all components,” said Anchor Capital’s fixed Income investment analyst, Casey Sprake. Analysts polled by Reuters had projected a slight 0.1% increase in first quarter GDP, while the SA Reserve Bank (SARB) had projected 0.2% growth. Last year GDP grew 0.6%, with the SARB estimating load shedding had shaved 1.5% off that. This year the…

THE INTERNATIONAL Energy Agency (IEA) has included South Africa, along with its global counterparts, among the countries whose current ambitions are not aligned with the COP28 pledge to triple global renewable power capa- city by 2030, which is one of the key elements to achieving net zero emissions by mid-century and limiting warming to 1.5ºC. In its latest report yesterday on tracking countries’ ambitions and identifying policies to bridge the gap, the IEA said even if all countries were to fully implement their current ambitions, the world would fall 30% short of tripling global renewable capacity to more than 11 000GW by 2030. The IEA said if all ambitions were to be achieved, global installed renewable capacity would be 2.2 times the 2022 level by 2030. The report noted…

BUSINESS in KwaZulu-Natal welcomed the outcomes of the recent national and provincial elections, saying the ballots were “peaceful and most of all reflected the wishes of the people” to have a government from different political parties that would put South Africa first and the political parties’ agendas second. Since KZN is prone to violent looting and truck attacks, there was fear that civil unrest might erupt in the province, since there were widespread unconfirmed reports of vote rigging on social media, with the leading political party in the province, the uMkhonto weSizwe Party (MK Party), not accepting the results. However, the KwaZulu-Natal Growth Coalition (KZNGC), a public-private partnership, yesterday said it was critical that the country create the right atmosphere of camaraderie and co-operation as was the case in 1994.…

THE ELECTION outcome was akin to an electric shock. Who would have thought that in the 2024 end of elections things would have changed so drastically politically? I pin down the whole election’s outcome and results on a “No to load shedding” vote. The elections clearly sent a shocking message. Not only did the voters reduce their support for the ANC to a minuscule 40%, but the Democratic Alliance’s voting outcome remained stagnant. This sent a clear message to the two leading parties in votes that South Africans in the majority did not agree with their parties manifestos and policies, particularly on energy. Furthermore, punishing the ANC for its lacklustre performance in the previous administration and the DA for its continuous energy policy interference. Were we right when we pointed…

RCL FOODS will list iconic South African chicken company, Rainbow Chickens, next month as part of an unbundling to its shareholders, in spite of really tough markets, both on the bourse and in the poultry industry. The poultry group had said in March, in its results for the six months to December 31, that it wished to separate from its poultry operation housed in the legal entity Rainbow Chicken Limited, via a listing of Rainbow on the Main Board of the JSE. Yesterday, RCL’s directors said Rainbow shares would start trading on July 1. The unbundling will be implemented by way of a distribution of 890 296 405 Rainbow ordinary shares, in the ratio of 1 Rainbow share for every 1 RCL share held. RCL shares closed 5.01%…

INDIAN stocks suffered their worst intra-day fall since March 2020 yesterday, as vote counting trends in the general election suggested Prime Minister Narendra Modi’s alliance was unlikely to win the overwhelming majority predicted by exit polls. With more than half the votes counted, Modi’s Bharatiya Janata Party (BJP) looked unlikely to secure a majority on its own in the 543-member lower house of parliament, and would need allies in the National Democratic Alliance (NDA) to form a government. That could lead to some uncertainty over economic policies, such as the push for investment-led growth, which has been the cornerstone of the Modi government’s rule. The Indian econo- my grew 8.2% in the financial year ended March 2024. “The key question is whether BJP can retain single-party majority. If not, then…

While June is marked as Youth Month in South Africa, it is also Pride Month worldwide. As Pride celebrations kicked off in many parts of the world, some people revealed themselves as homophobic. At Adele’s, pictured, concert in LA on Saturday, someone from the crowd shouted, “Pride sucks”, and the Rolling In The Deep hitmaker dragged them for their homophobic comment. She said: “Did you come to my f**ken show to say ‘Pride Sucks’, are you f**ken stupid? Don’t be so f**ken ridiculous. If you have nothing nice to say shut up, alright.” The crowd cheered on the singer for standing up for queer people by calling out the homophobe. On social media, her fans praised her for standing up for the community. “I love that one minute Adele…

The leader of Build One South Africa (Bosa), Mmusi Maimane, has confirmed that he and two other leaders of the party, Nobuntu Hlazo-Webster and Ayanda Allie, are headed to the National Assembly and the Gauteng Legislature, respectively. This comes after the party managed to get two seats in the National Assembly and one seat in the Gauteng Provincial Legislature with more than 194 000 votes, including 65 912 in the national ballot, making it the 12th most supported party in the elections. Announcing the decision, Maimane thanked the two women leaders for their contribution to the party’s success at the polls, following months of campaigning and strategising. “Today, Bosa can confirm that the party received over 194 000 votes from diverse communities across the country,” Maimane said.…

This year’s national and provincial elections were full of irregularities, from scanners not working to some voters not being allowed to vote in both regional and provincial ballots. Many political parties came forward with their dissatisfaction over the outcome and conduct of the Electoral Commission of South Africa (IEC). They complained about the inconsistency that arose from the manual counting versus votes that were captured in the results slips, which prompted demands for a recount. Despite the IEC announcing the results on Sunday, it said the commission would deal with every concern or objection raised and if need be there would be a recount. Election analyst Michael Atkins said these concerns should be properly ventilated, and that the IEC must make improvements where needed. “Many people had poor experiences of…

Olympic organisers are planning for the return of sex in the 2024 Paris Olympic Games after the 2020 Games in Tokyo were forced to implement an intimacy ban due to Covid-19, even with the cardboard beds that were first introduced in Tokyo, which the organisers dubbed “anti-sex beds”. Laurent Michaud, director of the Olympic and Paralympic Village, said 300 000 condoms would be available to athletes in Paris. “We are aiming to have 300 000 condoms here at disposal for the 14 250 residents – athletes, personnel, and officials in the village. It’s a quantity that makes sure that everybody will have what they’re expecting and what they need,” he told the UK’s Sky News. “We wanted to create some places where the athletes would feel very enthusiastic and comfortable,…

Many political observers have reacted with both “shock and awe” to the astounding performance of the Umkhonto weSizwe Party (MKP) in one of South Africa’s most contested elections. Indeed, to borrow from US military jargon, the MK Party’s performance is nothing short of operation “desert storm” or “decapitation”. Never has a ruling party suffered such a humiliating and crushing defeat. Since taking over as President of the country, Ramaphosa, ANC has experienced a cataclysmic decline from 62% to 40% of electoral support. However, this feigned bewilderment by the media fraternity at the MK Party’s performance is a self-created crisis. The bewilderment arises from the fact that many political observers and political players bought into their political misconceptions, blatant lies, and deliberately crafted false narratives they created for themselves. They have…

Mauricio Pochettino said Chelsea had shown a “big improvement” during his single season as manager in his first public comments since his Stamford Bridge exit. The Argentine left the club by mutual consent last month despite a strong end to a turbulent season in which they spent much of the campaign languishing in mid-table in the Premier League. The Blues won their final five games to finish sixth and earn a place in the Uefa Conference League, also reaching the final of the League Cup and the semi-finals of the FA Cup. On Monday, Chelsea appointed Leicester boss Enzo Maresca as Pochettino’s successor on a five-year deal. Addressing the club’s ownership and supporters via social media, Pochettino, 52, he said he had worked hard to “give you a Chelsea you…

Euro 2024, beginning in Germany on June 14, is a mouth-watering prospect, as France and England lead the heavyweight contenders for a tournament that will be played out in some of the continent’s finest stadiums across a football-mad nation. The setting for the month-long competition is important, given the underwhelming nature of the last Euros three years ago, held all over the continent rather than in one country, and played before limited crowds during the Covid pandemic. This time all fans will descend on 10 stadiums in Germany, many with memories of the unforgettable summer of 2006 when the country last staged a major tournament. The hope is this competition will be just as memorable, and for the right reasons, despite security concerns in a tense global climate and complaints…

FITCH Ratings has warned that the ANC’s pursuit of coalition partners to retain its governance mandate, after plunging below the required 50% majority threshold, could significantly affect South Africa’s credit profile. President Cyril Ramaphosa’s ANC polled 40% of the May 29 ballot, leaving it in need of forming a coalition with rival parties. At the same time, SA’s economy is unstable amid sluggish economic growth and a precarious credit profile. Although markets and the rand have been holding steady amid growing sentiment that the politically unlikely coalition with the DA was business- and investor-friendly, the permutations have been ushering in a certain degree of uncertainty. “The various permutations of government could have very different implications for policy, with potentially significant effects for South Africa’s credit profile,” Fitch Ratings said yesterday.…

“CHINA’S manufacturers are pumping out so many solar panels that the resulting global glut has caused prices to tank. Solar panels – 80% of which are made in China – are so cheap that they’re now being used to line garden fences in Germany and the Netherlands.” In early April, a Financial Times article garnered some traction across various media platforms when it highlighted that the world was awash with low-cost solar panels – with supply now comfortably outstripping demand. As a highly respected name in business media, this gave pause for thought when it comes to the role of waste in the renewable energy ecosystem. As the clean energy transition gathers momentum, there are in essence two “dirty” areas where business opportunities are emerging. The first is the management…

MOMENTUM Metropolitan Holdings’ run rate was lower in the third quarter, but most business units delivered robust earnings in the nine months to March 31, the group said in a trading statement yesterday. Recurring premium was down 15% to R2.96 billion compared with the same quarter in 2023, while single premium business was up 32% to R47bn. New business was up 20% to R60.3bn. Total direct expenses were up 8% to R9.35bn. New business at Momentum Retail increased 13% to R6.28bn. New business at Momentum Investments increased 21% to R35.12bn. Assets under administration on the Momentum Wealth investment platform increased 14% to R265bn. Health members under administration were up 2%. Directors said the performance was supported by favourable mortality experience and good investment income from the assets in the…

While breakups are painful, Ter Hollmann channels the funnier side of them in 2Lovers. A writer and actor, he wrote the script for the SCrIBE Scriptwriting Competition held by the Imbewu Trust back in 2017. Although he didn’t win, he made it through as a finalist. “And then I went away and rewrote the script and did a short run in 2018 at POPArt with another actress, Michelle Levine,” he said. “We were about to bring it to the world in 2020 and then Covid happened. “In 2022, we brought it back, but Michelle had moved on and so we approached Tessa (Jubber).” 2Lovers is directed by Craig Morris and stars Hollmann alongside Jubber. It explores the intricacies of love and long- term relationships but in a humorous and…

With the recent conclusion of the elections, the country is yet again to be governed by a Government of National Unity (GNU). This is because no political party that contested the national and provincial elections garnered enough votes to constitute a government on its own. The last time the country had a government of national unity was in 1994 after the first democratic elections. At the time, the three political parties that formed part of the coalition government were the National Party (NP) and the IFP, led by the ANC. This GNU aimed to promote national unity, rebuild the country, and address the social and economic inequalities created by apartheid. Thirty years later, there are talks of going into coalition with the same organisations apart from the DA, which…

Extreme rainfall and flooding in parts of Eastern Cape over the weekend called for an immediate dispatch of Gift of the Givers in affected areas such as Kariega, East London and Gqeberha. South Weather Service issued a statement warning of flooding and rains, snowfall and thunderstorms in Eastern Cape, including parts of Gauteng, Free State, KwaZulu-Natal and Northern Cape. The founder of Gift of the Givers, Dr Imtiaz Sooliman, told Newzroom Afrika of extensive damage to infrastructure. “It is very extensive, we have expanded the number of people in my team to areas affected. In this city alone, Nelson Mandela Bay, and Kariega, you are looking at 3 000 people in 10 shelters over the last two days. “It is much worse in East London, we helped 1…

Statistics from the beginning of the year to the end of May show that KwaZulu-Natal has joined Gauteng as the highest-risk provinces for cash-in-transit (CIT) heists. This is according to Alice Maree, who is the incident and analytics manager of the Cash-in-transit Association of South Africa’s (Citasa). Maree was speaking after a security guard was shot during an attempted CIT heist in the Durban CBD on Monday. She said that from January 2024 to end-May 2024, the highest-risk provinces were Gauteng and KwaZulu Natal, each accounting for 26% of CIT robberies committed in the country. Provincial police spokesperson Colonel Robert Netshiunda said police are investigating cases of attempted murder and attempted robbery following an incident in which armed suspects attempted to rob a cash delivery truck on the corner of…

The City of Tshwane’s finance MMC, Jacqui Uys, has hailed the metro’s rates and levies as the most affordable when compared with those charged by its counterparts in the country. Uys was speaking yesterday during a special council meeting at Tshwane House council chamber, where she tabled the City’s R50.6 billion budget for the 2024/25 financial year. The budget comprises an operating budget of R48.3bn and a capital infrastructure investment budget of R2.3bn. On the back of the current difficult economic climate and pressures faced by residents to make ends meet, Uys said, “Tshwane has the most affordable rates and levies of any metro.” The City, she said, has worked hard to keep rates and tariff increases within control and as low as possible. For example, she said, the City…

BUSINESSWOMEN in Pretoria and surrounding areas are invited to connect, network, celebrate, grow their networks and businesses and support other women in business at the upcoming Confident Women in Business (CWIB) Expo. CWIB is a community of businesswomen passionate about their faith and business, and a forum to inspire, encourage and support others. The founder of CWIB, Cerita Nagy, says the expo brings women together with the intention of connecting, collaborating, and supporting one another in their business and faith. “Christian businesswomen in any stage of their career or in business can showcase their products and services, support each other, minister to each other, and build heartfelt business relationships,” she says. The expo will be hosted this Friday at Loft At Nine in Menlo Park, Pretoria from 9am to 2pm.…

There is something special about men who age well. Grey hair is no longer frowned upon but seen as sexy. Carrying a bald head with confidence and stepping up with wisdom that sets them apart from the rest. Brad Pit (the hair), George Clooney (the grey) and Jason Statham (the bald) come to mind. What sets them apart from the rest where the grey is just grey? Here is the juicy part. They strive to add meaning to their lives to ultimately be happier by these seven behaviours that they live by. Defining the meaning of life Philosophers such as Nietzsche, Tolstoy, Kierkegaard, and Aristotle dedicated their lives to answering the question with different viewpoints, but, in my opinion, His Holiness, the Dalai Lama, gives us a simple answer,…

The hot-headed youngster of a few seasons ago has taken a back seat for a calmer Evan Roos, one comfortable playing all three loose-forward positions when the Stormers need him to – even during a match. The 24-year-old has gone from being the one who would be in the middle of a little bit of argy-bargy to the one who just smiles in the face of those trying to rile him up. It has done wonders for his game – walking away from scuffles – and even though players still target him, trying to ignite his fuse, Roos says he has had a couple of chats with the more senior players and his coaches in an effort to keep himself on the right side of the whistle. More of the…

Proteas captain Aiden Markram’s loss at the toss was probably the only shortfall his team suffered on a day which saw them make huge strides in their quest for a maiden World Cup win. Chasing 78 runs to win in their opening ICC T20 World Cup match against Sri Lanka in new York on Monday, South Africa eased to a six-wicket win with 22 balls to spare under tough batting conditions. The victory might have cleared a bit of uncertainty over what the Nassau County International Cricket Ground surface might have in store, but in the same breath, it also raised a few new questions. Nonetheless, the Proteas walked away with maximum points and a healthy run rate as they now turn focus to their nemesis, the Oranje of the…