Innholdsfortegnelse for 2024-08-07 i Star

Nedbank lifted its interim dividend 11.5% to 971 cents per share in a challenging trading environment and a stronger economy in the second half. A good pipeline of renewable energy projects and further strides in executing strategy should see the lender meet its medium-term targets, its executives said yesterday. The bank has fallen under the media spotlight recently as it gears up for a legal battle with the Special Investigating Unit and Transnet over alleged R2.7 billion in interest rate swops transactions dating back to the state capture-era in 2015/16. The bank has said it was confident that it “did no wrong” in the transactions, and no provisions were set aside for the legal case in the interim results. Diluted headline earnings a share (Heps) increased by 12%, benefiting from…

In the conclusion of the protracted strike at the SA Bureau of Standards (SABS), the National Education, Health, and Allied Workers Union (Nehawu) yesterday revealed faultlines in entities under the Department of Trade, Industry, and Competition (dtic). Nehawu also alleged serious governance breaches at the SABS, which were leading to corruption. Its deputy secretary-general, December Mavuso, speaking in the aftermath of the two-week strike that has finally been resolved with the intervention of Trade, Industry, and Competition Minister Parks Tau. Mavuso said there was a need for harmonisation of remuneration and benefits, as well as centralised bargaining at the dtic. The polarised structures in the dtic were resulting in “department hopping”, he claimed. “There are a lot of issues at the SABS and the other entities at the department, which…

With the National Nuclear Regulator of South Africa’s announcement that the Koeberg power station’s Unit 1 can operate for another 20 years, there has been a predictable response from “the green activists” claiming that the South African regulator is being negligent by not considering “the necessary safety upgrades”. Given that Koeberg has been operating successfully for 40 years without a major incident, on what basis should we believe that the next 20 years would be any different? The latest refrain about “nuclear safety” is that Koeberg needs a “core catcher” to be installed on the generation 2 power station, because it is “international best practice”. This position is the official talking from the “independent experts” that are all associated with the foundations such as Heinrich Böll and Rosa Luxemburg Stiftungs,…

Sasfin mulls legal action for R164.64m Prudential fine Sasfin Bank has received R164.64 million of administrative sanctions from the Prudential Authority of the SA Reserve Bank on foreign exchange-related non-compliance issues, the bank said yesterday. The R160.64m comprises R209.69m of which R49.05m was suspended. The sanctions principally relate to allegations of historic non-compliance within Sasfin Bank’s discontinued foreign exchange business. “Sasfin has to work proactively and transparently with the relevant authorities and regulators. Sasfin has taken legal advice and is considering further representations that could result in a review or appeal of the sanctions,” the bank said. Meanwhile, it also said yesterday that the conclusion of the R3.26 billion sale of Sasfin Bank’s Capital Equipment Finance and Commercial Property Finance businesses to African Bank marked an important step in Sasfin’s…

Petra Diamonds has taken off the market diamonds produced in South Africa, and originally scheduled for sale this month, as a way of building up demand and in line with other major producers that are restricting supply in light of current depressed prices of these precious stones. With two operational mines in South Africa and another in Tanzania, Petra Diamonds now expects prices to rebound due to the constricted supply on global diamond markets. The expected pick-up in demand for diamonds ahead of the traditionally lucrative festive season is also projected to boost prices and prospects for the industry. “We have taken the proactive decision to defer the upcoming August/September tender from our South African operations to support steps taken by major producers to restrict supply in this weaker demand…

The new revamped Muvhango made its debut on SABC 2 on Monday and as requested by viewers, the new season will be “fancier, younger and bold”. The popular South African drama returned for its 27th season with fresh faces such as legendary actress Leleti Khumalo, who will portray Dr Nonhlanhla Ximba, a former medical doctor turned successful businesswoman. Dr Ximba is set to make a dynamic entrance as the wife of Avhatakali Ramabulana, played by Lloyd Nedohe, and the mother of Sakhile, played by Tyson Mathonsi. The trio are set to be central figures in the show’s gripping narrative. In addition, other characters such as Liteboho Molise, Lebo Tisane and Wiseman Zitha will also be returning, but in an upgraded way. Meanwhile, production company Word of Mouth, which produces Muvhango,…

Andrew Buckland’s critically acclaimed one-man show The Ugly Noo Noo will be staged at The Market Theatre from August 15. For 36 years, this production has reshaped the landscape of South African theatre, leaving an indelible mark on artists and audiences alike since its initial presentation at the venue. The story centres on a man’s encounter with the Parktown Prawn, an insect notorious for residing in the Joburg suburbs, especially in the ’80s and ’90s. According to the press release, using sharp satirical commentary, an explosive performance style and Buckland’s unique stage presence, this play takes the audience on an unforgettable journey through the big city’s compost heaps and dark underbelly of suburban life. It examines in comic detail the relationship between fear and power in our everyday lives. Directed…

Controversial pastor Paseka “Mboro” Motsoeneng and four suspects are expected to appear in the Palm Ridge Magistrate’s Court today for alleged acts of violence and intimidation that played out at the Matsediso Primary School in Katlehong, Ekurhuleni. The five are facing a variety of charges, including assault, handling a firearm recklessly that could endanger lives and property, rendering security services while not registered, malicious damage to property, assault and intimidation. The incident was allegedly linked to a family dispute involving the custody of Mboro’s grandchildren. The mother of the children apparently died in April, leading to a dispute between the paternal and maternal sides of the family. Mboro entered the school premises on Monday accompanied by two men wielding a panga and a rifle. Teaching staff attempted to keep the…

Special representative of the Chinese government on Eurasia Affairs, Li Hui, is embarking on global peace talks in an effort to end the crisis in Ukraine. Speaking exclusively to The Star in Pretoria on the weekend, ambassador Li highlighted China’s four rounds of shuttle diplomacy, engaging with various parties, including Brazil, South Africa, Indonesia, and others to exchange views on the Ukraine crisis and promote peace talks. “We believe if more people join the call, there will be greater hope for de-escalating the situation, and we will be closer to resuming peace talks and restoring peace,” he said. He emphasised the importance of the Global South in promoting world peace and development. “Brazil, SA, Indonesia, and China are important members of the Global South and important forces in promoting world…

FEMALE officers from the Tshwane Metro Police Department (TMPD) have vowed to take the lead in enforcing by-laws in the municipality during Women’s Month under the crime-busting operation, Basadi (women). TMPD spokesperson, Isaac Mahamba, said the Basadi operation was launched last week to kick-start the month of August known as Women’s Month. He said a series of women-dominated operations would be carried out as part of law enforcement throughout this month to highlight the role of women in the country. Yesterday, female officers were at the forefront of enforcing by-laws in the eastern part of the city, where they cleared up building waste, plastics and boxes from the roadsides. Led by chief of police, Commissioner Yolanda Faro, the operation also saw officers conducting stop-and-search drills and stopping people from illegally…

LOCATED inconspicuously near the rail track that connects Mamelodi and Pretoria Central lies a treasure trove of artistic brilliance – Martin Lekotoko’s That’s It Art Gallery in Mamelodi East’s BufferZone. This space, part gallery and part cultural hub, pulses with the vibrancy of local art, music, and heritage, all nurtured by a man whose lifelong passion for art has become a beacon for his community. At 64, Lekotoko’s journey in art spans decades, beginning at the tender age of 7 when he first picked up a paintbrush. His early start laid the foundation for what would eventually become a flourishing career, marked by his transformation of part of his home into a gallery in 2010. However, it is more than just walls adorned with more than 680 original pieces; it’s…

South Africa’s Caster Semenya has slammed the International Olympic Committee (IOC) for its handling of athletes under gender scrutiny at the Paris Olympics. Two women’s boxers at the Olympics have hit the headlines – Algeria’s Imane Khelif and Taiwan’s Lin Yu-ting. Both are in the semi-finals of their respective weight divisions. Khelif and Yu-ting, like Semenya, according to reports, are athletes classified as having differences in sex development (DSD). World Athletics (WA) has mandated that DSD athletes should take testosterone-lowering medication to be eligible for competition since 2018. It meant that Semenya, who refuses to take the medication, has not competed at the Olympics since 2016 when she claimed her second successive title at the quadrennial showpiece event. The International Boxing Association (IBA) reportedly found that Khelif and Yu-ting have…

STOCK markets across the globe started to recover yesterday after Monday’s shock that caused a worldwide bloodbath across bourses. Locally, the JSE’s All-Share Index ended the day slightly down 0.19% at 79 430.05 points after Monday’s negative 1.19% close. The rand see-sawed between its opening at R18.48 to the dollar and a low of R18.58, before its R18.46 in late afternoon trade. Analysts have marked Monday’s rout as a knee-jerk reaction to less than favourable data coming out of the US as growth in the labour market slowed, resulting in the Goldman Sachs Group pegging the chance of a US recession at 25% – up from a previous 15%. Japan’s Nikkei 225, which on Monday experienced its worst rout since 1987 on news that the lending rate was going up…

Towards the end of the sixth administration, several international export markets were opened as stated by Agriculture Minister John Steenhuisen in Parliament recently. Considering that South Africa’s agriculture sector is focused on exports, this is significant. Opening markets is even more important given the need to reform the sector due to the rise in emerging farmers who are ready for the market, improved farming practices, and the adoption of new technology that have enhanced yields and productivity across multiple industries. The following markets, which South Africa sealed in the latter months of the previous administration, must be maintained and will be key in keeping South Africa’s agricultural export earnings on a positive trajectory. This is crucial for retaining thousands of jobs in the agricultural sector, contributing to the country’s gross…

AngloGold Ashanti bumped up its interim dividend 450% to $0.22 (R4.07) per share after it contained costs, benefited from stronger bullion prices and upped production, factors that boosted cash flows and earnings for the period. In the previous contrasting half-year to June 2023 AngloGold Ashanti paid a half-year dividend of $0.04. Shares rose 3.26% in afternoon trade on the JSE to R505.98, reversing its 1.57% loss over the past seven days. AngloGold Ashanti’s gold production for the 2024 half-year rose 2% over the prior year’s same period 1.25 million ounces. Total cash costs for the period per ounce decreased by 1% to $1 158 per ounce. This compared to the gold miner’s realised inflation rate for the period of about 6%, representing the sum of price-related increases in cost of…

South Africa has experienced extreme climatic events such as droughts, floods and heat waves, which have impacted habitats, human health and economic productivity. Vulnerable communities and particularly women have been the most affected. The effects of these impacts range from food insecurity, declining agricultural productivity for subsistence farmers, water scarcity and heightened health risks from environmental degradation. As South Africa embarks on a journey towards a low-carbon future, the role of women has become increasingly important. Unfortunately, as we commemorate the 30th anniversary of post-apartheid Women’s Day this week, it is increasingly evident that women are not at the centre of the just transition discourse, nor prioritised in the required action. Climate change affects women and girls to a greater extent than men – based on economic, social and cultural…

Aluminium semi-fabricator Hulamin expects its headline earnings per share to fall by between 21% and 13%, when it announces its interim results on or about August 19. A trading update and trading statement for the six months ended June 30, 2024, said: “Shareholders are advised that, as per our last update to the market on March 4, the challenges in relation to softer global markets, primarily impacting our export market segments, continued into the first quarter of 2024. “Demand from export customers started to recover during the latter part of the six months ended June, 2024 and by the close of the interim period, demand from export customers had recovered to historic-levels,” Hulamin said yesterday. It added that in contrast, the local market had remained resilient. Overall group performance for…

Seasoned South African actor Themba Ndaba will be making his debut on e.tv’s gripping daily drama, Isiphetho – Destiny. The veteran actor and producer is popular for his roles in award-winning shows like The Queen, Generations and Redemption, among other TV shows and movies. Ndaba’s arrival tomorrow is set to stir the pot with a polygamy storyline. According to a statement from the channel, he will play Gwinyitshe, a Zulu man with a lot of love to give – but will his playboy ways get him into trouble? “He arrives in Mzimhlophe to surprise Connie (Gugu Gumede). But we soon realise that the two have a relationship that stems from since Connie was a teen, almost 40 years ago,” said the statement. Besides this connection, Gwinyitshe was also romantically involved…

The ANC’s Joburg regional secretary, Sasabona Manganye, has said a new mayor will come from their ranks, replacing Kabelo Gwamanda. In recent weeks, civic organisations have been plotting to remove Gwamanda from office, to the extent of holding a picket, claiming poor service delivery, delayed infrastructure development and extreme tariff increases, particularly, the R200 energy surcharge. Manganye said the new mayor will be elected after the ANC’s senior executive concludes internal talks, giving the green light to engage with its coalition partners, suggesting ActionSA among other parties. “We are just finalising a few consultative meetings with our national executive council. As soon as we are given the go-ahead, we will engage with our coalition partners. We will get the mayor to resign, and an extraordinary council will be convened to…

Mpumalanga police are investigating the murder of former police union executive member, Nkosinathi Theledi. His bruised body was found in his car in Mbombela, Mpumalanga, five days ago. He is a former executive member of the Police and Prisons Civil Rights Union. Police said Theledi left his house in Gauteng on July 31. “He was on his way to Standerton. Concerned family members attempted to contact him but were unsuccessful. Subsequently, he was reported missing. “The family sought assistance from a car tracker service provider, which led to the location of the victim’s vehicle in Sundra,” police said. Theledi’s two cellphones, watch and shoes were stolen. Of particular interest to police investigators is the apparent cleaning of the vehicle, the motive for which remains unknown at this time. “No suspects…

THABANG Ntuli, the Miss International South Africa creative director from Pretoria, is making waves in the pageant industry with his innovative approach and vision. As a member of the LGBTQIA+ community, he is a driving force behind the empowerment of women and the celebration of individuality in the pageant industry. He said his passion for the beauty pageant industry was ignited by the transformative power it provides in terms of empowerment and self-expression for women. “Growing up, I was fascinated by the confidence, charisma and grace of beauty queens and I wanted to be part of a platform that celebrates and nurtures these qualities,” he said. His journey with Miss International South Africa began when he recognised the organisation’s commitment to empowering women beyond beauty, focusing on leadership, community service…

Maggie Mojapelo has shared an inspiring tale of how she started from virtually nothing and worked her way up to become a consultant, successful entrepreneur, and co-founder of a business that has been reshaping the HR sector. Mojapelo, who has since amassed numerous accolades, said her parents’ unwavering commitment to their careers had always motivated her. “It started with my father. I was raised by people who were hungry for something. So, I know nothing – I just know hunger, and I know follow-through. That has always made me look at what I can do.” Mojapelo is a highly sought-after executive, board member, committee chairperson, consultant, and co-founder of a company that has significantly impacted the HR industry since 2011. In 2011, Mojapelo launched The HR Touch, an HR consultancy…

SINCE 2022, the Proteas Test team has had very little success away home, with the series-levelling victory in New Zealand at the beginning of 2022 and the one at Lord’s in the winter of the same year being their only success away from home in the two-year period. This is an alarming fall from grace for a team that was known for being good travellers in Test cricket before 2022. However, with head coach Shukri Conrad and captain Temba Bavuma at the helm, the Proteas have set their sights on reclaiming that status away from home as they already proved that they are a formidable team at home when they beat the No 1 Test team in the world, India, by an innings in the Boxing Day Test. The…

Transnet Pipelines (TPL), a division of Transnet, has issued an expression of interest to repurpose the Lilly gas pipeline from transporting methane rich gas (MRG) to regasified liquefied natural gas (LNG). “The expression of interest process will help TPL assess market interest and demand, which will inform the pre-feasibility study and future request for proposal (RFP) processes,” it said in a statement yesterday. TPL, a unit of the state parastal Transnet, said: “With the demand for natural gas expected to rise significantly, Transnet is proactively developing the LNG value chain to safeguard SA’s strategic interests. This initiative positions Transnet’s Natural Gas Networks business as a vital contributor to the country’s long-term economic growth and transformation.” While welcoming the move, the Industrial Gas Users Association said: “The initiative may come too…

It’s an old cliché but the phenomenon known as Turnaround Tuesday – when markets rebound from a sell-off at the start of the week – is an opportunity that shows up time and again in the data. The bad news is such recoveries don’ guarantee the bottom has been reached. Investor psychology during a rout tends to begin with jitters on Thursday, hedging on Friday, and all-out selling on Monday, according to Brent Donnelly, veteran trader and president of trading analysis firm Spectra Markets. By Tuesday, the downdraft is primed for a reversal, he wrote in a note published on Monday. The numbers support the thesis. Prior to this week, the S&P 500 had fallen on a consecutive Thursday, Friday, and Monday a total of 582 times; and the subsequent…

IN EARLY June, 2024 an exchange took place between a member of an environmental organisation (Gabriel Claasen from Project 90 by 2030) and Eskom’s nuclear support manager (Keith Featherstone) that should concern anyone interested in the long-term safety of Koeberg Nuclear Power Station. The exchange took place in Athlone, Cape Town, during a public hearing organised by the National Nuclear Regulator (NNR) on Eskom’s application to extend the life of Koeberg nuclear power station for another 20 years – known as Long-Term Operation (LTO). After a presentation by Featherstone on the LTO, Klaasen asked for clarity as to why the question of whether Eskom would be installing a core catcher at Koeberg for the LTO was not addressed in the presentation. A core catcher, which is made from thermally-resistant concrete…

Afrimat’s sales volumes increased in the second quarter of its 2025 financial year, but were unlikely to make up for the decline in the first quarter, the bulk commodities, building materials, and industrial minerals, the mid-tier miner said yesterday in a trading update. The share price fell more than 2% to R65.11 yesterday afternoon after the release of the trading statement. The price is above the R59.60 it traded at a year ago, and nearly double the R33.89 it traded at three years ago. During the first quarter to the end of May, the bulk commodity market was lacklustre. Also, volumes were impacted by the underperforming iron ore export corridor, and ArcelorMittal South Africa’s issues, specifically the force majeure at the Vanderbijlpark facilities due to the freeze of two furnaces.…

The Mozambique-based RGS Consortium says it has a new offer for Tongaat Hulett (THL), but Vision Investments (VI), appointed by the business rescue partners, says a yes vote by shareholders at tomorrow’s meeting will bring the beleaguered sugar group a step closer to a “substantially better future”. But this view is not shared by all, with agricultural economist Dr Kobus Laubscher saying yesterday that contrary to claims that shareholders will be left with nothing if they vote against Vision’s debt-for-equity swop at the meeting, “the reality is far more complex”. Laubscher claims VI had so far failed to come up with the required funds for the deal. “Similarly, assertions that the Vision business rescue plan must be implemented because creditors voted to adopt it, and that Vision already owns THL’s…

Money lost under stewardship of disgraced More as Mangaung city manager The disgraced city manager of Mangaung Municipality, Sello More, is embroiled in another scandal, this time involving a R6 billion loss for the municipality. The funds were mismanaged during More’s tenure as city manager. Reports indicate that the Free State Hawks are investigating the case. Sources within the municipality have disclosed that the initial misuse of funds is connected to a long-standing jobs-for-pals scheme. The Star exposed the scandal earlier this year, revealing how both More and mayor Gregory Nthatisi engaged in irregular appointments, hiring friends and inflating staff numbers as favours for political allies. The publication’s exposé led to an investigation into ghost workers and the jobs-for-pals network, which in turn triggered the Hawks to focus specifically…

There is something radically wrong with the state of the ANC, says the party’s head of elections, Mdumiseni Ntuli. Ntuli said the shortcomings included, among others, the quality of leadership and membership of the party. He also pointed out the ANC’s failure to fix the ailing economy due to the lack of strategic leadership required at local, provincial and national government level in order for the economy to serve the majority of the people. “The failure of the economy to absorb as many South Africans as possible, particularly the youth, had an impact on the performance of the ANC. “The state of our governance was also an issue, more especially at local government level. If you look at these elections, the contestation in this election, unlike in the past, was…

THE LIBYAN Government of National Unity (GNU) has broken its silence regarding 95 of its citizens arrested in South Africa at what is suspected to be a secret military camp two weeks ago. The nationals are being charged with contravening the SA Immigration Act after provincial police raided a farm near White River in Mpumalanga last month, uncovering what appeared to be a secret military base for training the Libyan nationals. Police had followed a tip-off from community members near the base. Nearly two weeks later, the Libyan GNU has broken its silence, condemning the individuals for lying in their visa applications. The government pledged to assist the South African authorities in resolving the issue and to support the suspects diplomatically and legally. In a letter addressed to the…

THE Tshwane Fresh Produce Market came under the spotlight during the recent two-day Tshwane agriculture and agro-processing workshop in the city, where participants highlighted the need to improve its operations. The market was previously said to be serving approximately 6 800 producers locally and neighbouring countries at any given trading day. Two years ago, the Gauteng High Court, Pretoria, ordered the City of Tshwane to fulfil its official duties by implementing a precinct plan for the maintenance of its produce market at a cost of R18 million. That was after the Institute of Market Agents of South Africa approached the court, claiming it had for years been liaising with the City to address “the critically dysfunctional state” of the market without success. The order was, however, made despite the…

Ingredients 1 cup bran 6 cups cake flour 2 cups oats 2 tbsp baking powder ¾ cup sugar ½ tsp salt 1 cup soft Stork Baking Margarine 1 cup water 2 eggs, beaten 500ml buttermilk/low-fat maas ½ cup sunflower/other seeds ½ cup raisins/cranberry ½ cup toasted chopped nuts Method Preheat oven to 180°C. Lightly grease and line 2 x 20cm cake tins or a large oven dish. Mix dry ingredients together in a mixing bowl. Rub soft Stork Bake into the dry ingredients with your fingertips until it looks like breadcrumbs. Beat water, eggs and buttermilk. Stir egg mixture into dry ingredients until well blended. Spoon into baking tins. Bake for 45 - 60 minutes or until a skewer comes out clean. Remove from the tins and cool. Slice into…

THE information you find about Peter Hyballa on the net paints a picture of a volatile coach with itchy feet. In person, Sekhukhune United’s new coach from Germany comes across as a jolly fellow with no airs about him and one who just loves football. He endeared himself to the South African media during his club’s MTN8 open day in Bedfordview, Johannesburg yesterday when he told it like it is, as Germans are wont to – Hyballa revealing how hard he found it to pronounce some of his players’ names due to the clicks and describing South African football as giving its exponents ‘no rest’. The 48-year-old was a surprise choice by Sekhukhune, who parted ways with Lehlohonolo Seema late last season and his joining the club appeared to be…

South African kayak duo Hamish Lovemore and Andrew Birkett are “super stoked” after qualifying for the Olympics men’s 500m K2 crew semi-finals. Birkett, 54, is a two-time marathon world champion but is competing in the K2 sprints in Paris with East London teammate Lovemore. The pair qualified for the Olympics by winning the SA Sprint Championships at Germison’s Victoria Lake back in March. The duo initially finished fourth in their heat behind Australians Jean van der Westhuyzen and Tom Green to progress to the quarter-finals. It was in the quarter-finals where they hauled out a superb performance to come home second behind Spaniards Adrian Del Rio and Marcus Cooper that ensured their place in the semis. “It felt like magic in the boat. We all have different goals coming here,…