Innholdsfortegnelse for 2024-11-05 i Star

Old Mutual Private Equity (OMPE) and black-owned investment firm Sphere Investments (Sphere) have acquired Much Asphalt, with its management, from JSE-listed AECI in a R1.1 billion transaction that will be financed through a combination of debt and equity. Much Asphalt is South Africa’s largest commercial manufacturer of asphalt and bituminous binders and emulsions, with its products principally being used in road surfacing. The company is the only player in the sector with a nationwide presence. AECI Group CEO Holger Riemensperger said in a statement that together, OMPE and Sphere provided a platform for financial strength, market access and long-term success for Much Asphalt. “This transaction is another significant step in our strategic journey and we are pleased with the outcome. The sale of Much Asphalt is a key component in…

The blaze that has put one unit at Kriel Power Station in Mpumalanga out of commission for the foreseeable future has reignited the fierce debate about the age of Eskom’s coal-fired fleet and its adequacy to deliver uninterrupted power supply. Eskom yesterday confirmed that a preliminary investigation showed that a fire had been triggered by a broken oil pipe on Sunday afternoon, causing an oil spill on the hot surfaces of the turbine at Unit 6 at Kriel Power Station. The power utility said the unit correctly tripped following the loss of hydraulic oil to the turbine valves, and that this had no impact on power supply. Kriel Power Station Unit 6 contributes 475MW to the power grid. With this unit temporarily offline, total unplanned outages stand at 8 483MW—still…

Collins Property Group, in its first half year as a listed industrial REIT, reported R177 million of distributable income for the six months to August 31 and it raised the interim dividend to 50 cents a share from 40 cents as it continued to prepare for expansion into Europe. This was on revenue of R629m as against R604m in 2023. Collins managing director yesterday Kevin Searle said their continued ability to navigate through the uncertain conditions in the six month period was largely due to the composition of its portfolio of some 120 properties. The share price increased by up to 14.1% to R11.50 in thin trade on the JSE yesterday afternoon. “We have 66% of the portfolio invested in industrial properties and distribution centres, mostly covered by long dated…

The closing quarter of 2024 has so far delivered some telling indicators of Africa's evolving investment landscape. While Nigerian fintech Moniepoint reached a unicorn valuation with its $110 million (R1.9 billion) Series C and Fatoumata Bâ and Co’s Janngo Capital achieved an oversubscribed $78m final close, Techstars' sudden withdrawal from Lagos—after reportedly deploying roughly $2.4m across 24 startups in just two years—has triggered sobering conversations about ecosystem sustainability. Contrarian sensibilities This juxtaposition of fortunes took me back to a stimulating social media exchange I had in early 2018. Two former Bain & Company consultants, Rushil Vallabh and Brendan Mullen, who had departed the firm in 2016 to establish Secha Capital in South Africa alongside Nombuso Nkambule, reached out on Twitter to share perspectives on early-stage venture investment themes we'd…

Redefine Properties is optimistic about the performance of its portfolio in South Africa and Poland and has forecast distributable income per share to range between 50-53 cents in financial 2025, CEO Andrew König said yesterday. “We are aware of the geopolitical risks that could disrupt inflation trends and monetary easing. Therefore, we are committed to improving our business performance by enhancing efficiency, restructuring debt, and further simplifying our asset base,” König said. He said at the release of annual results to August 31 that they were transitioning from merely identifying opportunities, to actively capitalising on them, building on the progress made over the previous year and focusing on the opportunities that were identified in the 2024 financial year. Redefine’s share price nudged up 0.4% to R4.95 on the JSE yesterday…

Britain’s Prince William landed in Cape Town on Monday for a four-day trip to South Africa centred on his annual Earthshot Prize for environmental innovators. The heir to the British throne will attend a global wildlife summit and meet with South African President Cyril Ramaphosa during the trip, which is his first to South Africa since 2010. On Wednesday he will participate in the awards ceremony for the Earthshot Prize, which gives five winners 1 million pounds ($1.3 million) each to pursue projects addressing climate change and other environmental issues. William launched the prize in 2020, inspired by a visit to Namibia. Its name is a nod to former U.S. President John F. Kennedy's ambitious "moonshot" project which led to the 1969 lunar landing. “By the end of the week,…

Grammy Award-winning singer Lauren Daigle is set to bring her Kaleidoscope tour to South Africa next year. The Christian pop artist will perform in Cape Town at the Grand Arena, GrandWest, on March 18 and at Johannesburg’s SunBet Arena on March 25. Daigle is known for her many hit singles, among them You Say and Rescue. Her albums include Look Up Child, Sessions and Behold. Her latest self-titled album has also earned her a Grammy Award nomination. The album’s lead single, Thank God I Do, climbed up to No 1 on the Billboard Charts, pushing Daigle to more than a billion streams. Daigle has scored two Grammy’s, seven Billboard Music Awards, four American Music Awards and 12 GMA Dove awards. The artist made history in 2018 when her album, Look…

As the investigation into the death of 11-year-old Alexandra resident Lesedi Mulaudi continues, Gauteng Finance MEC Lebogang Maile has proposed that a state of emergency may be necessary to address the rising number of fatalities linked to spaza shops. Additionally, there have been calls for President Cyril Ramaphosa to intervene and take action against establishments selling contaminated food products. Lesedi died on Saturday after apparently eating chips from a local spaza business and suffering from chest-related symptoms. Maile defined the situation as a crisis and a crime against humanity. He said that Ramaphosa should declare this a state of emergency. “We need drastic measures and not just words or reactions after incidents like this,” he said. Maile made the remarks outside the Mulaudi home in Alexandra yesterday. Several youngsters in…

Hybristophilia occurs when a person is sexually aroused or attracted to those who have committed something societally frowned upon, such as cheating or lying, or committing a crime, such as rape, murder, or armed robbery. Those who have hybristophilia are typically drawn to those who represent the ideal of the “bad boy” or “bad girl”. These individuals may have a criminal past, be aggressive, or have performed activities deemed morally repulsive by society. Renowned South African forensic or investigative psychologist and author, Dr Micki Pistorius, said the embodiment of this condition is the strange relationship between convicted serial rapist and murderer, Thabo Bester and Dr Nandipha Magudumana. “This con-artist and convicted rapist and murderer got his girlfriend, a successful medical doctor, Nandipha Magudumana, to smuggle a dead body into a…

It doesn’t have to be pretty when it’s so effective. Clinton Larsen and Magesi FC could be on the cusp of history as they booked their place in the semi-finals of the Carling Knockout Cup with a 1-0 win against TS Galaxy on Sunday. Their qualification for the next round is already history on its own, and their well-scripted story continues to have positive twists. The next chapter, against last year’s semi-finalists Richards Bay FC, carries significant weight, as one of these two teams will secure a spot as a first-time finalist in this year’s edition, looking to face either Mamelodi Sundowns or Marumo Gallants in the final, set to unfold at the Toyota Stadium in Bloemfontein. Dikwena tsa Meetse secured the Motsepe Foundation Championship with two matches to spare,…

Anglo American has announced the disposal of its 33.3% minority stake in the Jellinbah Group for $1.1 billion (around R19.3bn) as it repositions its portfolio. This transaction involves two major steelmaking coal mines in Australia – the Jellinbah East and Lake Vermont – reflecting the diversified resources firm’s strategy to focus on more lucrative commodities such as copper and premium iron ore. The sale is set to take place with Zashvin, which currently holds an equal stake in the joint venture, alongside Marubeni Corporation. Anglo American was not involved in the production and marketing of the steelmaking coal produced from the Jellinbah-controlled mines. This strategic divestment follows Anglo American’s plan to streamline operations, which now include systematic exits from its platinum group metals, diamonds, and steelmaking coal sectors. Duncan Wanblad,…

Abu Dhabi’s main oil company and AIQ agreed on a deal to use artificial intelligence to make the energy industry more efficient. Abu Dhabi National Oil will for the first time use agentic AI - developed by AIQ in collaboration with Microsoft and G42 - to analyse massive amounts of data to identify operational improvements in the energy industry, CEO Sultan Al Jaber said at the opening of the Adipec conference on Monday. “It will speed up seismic surveys from months to days,” Al Jaber said, adding that it will also make the industry more sustainable by reducing emissions. “It will increase the accuracy of production forecasts by up to 90%.” In September, Microsoft and G42 announced the establishment of two artificial intelligence centres in Abu Dhabi, months after they…

South Africa’s business owners face serious consequences for not complying with the Companies and Intellectual Property Commission (CIPC) requirements. Over 650 000 companies were deregistered last year mostly due to missed annual returns, according to the CIPC’s annual report. Deregistered companies could find themselves unable to trade and invoice their clients. In a worst-case scenario, the state can legally absorb assets of non-compliant businesses, according to a local startup InfoDocs, which has developed simple, cost-effective systems to avoid deregistration and ensure CIPC compliance. Imagine your business being unable to operate or own assets; your business bank account is at risk of suspension with deregistration. It’s a nightmare, but one that can be avoided. We started InfoDocs seven years ago to solve the complexity and have helped over 90 000 companies…

If the influence of technology leaders was ever in doubt, it is now clearly visible. When Elon Musk made a decision to buy Twitter, now X, it was not clear how the billionaire would use the social media platform. People who understood technology knew that he would turn it around and build something more than just a social media platform. We now know that it has been used as a powerful tool leading up to the US elections. Post-elections, it will become a tool that will be used in favour of former president Donald Trump, whether he wins or not. If Trump became US president, Musk would probably become one of the most influential people in history. His companies, which include SpaceX, Tesla, Boring Company and Neuralink, would probably have…

South Africa’s steel industry is currently grappling with significant challenges, primarily due to lax government policies alleged to have facilitated illicit trade practices and an influx of unsustainable imports. The nation’s largest steel producer, ArcelorMittal South Africa (Amsa), has issued warnings about ongoing uncertainties affecting its local operations, threatening the stability of the sector. With demand for steel dropping sharply, Amsa’s situation is compounded by soaring energy and logistics costs. In terms of production, South African crude steel production amounted to 460 000 tons in July and August, against the backdrop of an increase of 5% in primary steel imports. “The greatest issue is that local steel demand has fallen by about a third in the past 20 years and the blame lies squarely with the government’s anti-growth policies,” Bruce…

Multi-Grammy award-winning musician James Bay has performed in several countries but South Africa has not been one of them. That is about to change as he will be in Mzansi next year. The UK artist will perform at Cape Town’s Kirstenbosch Botanical Gardens on March 27 and at Marks Park Sports Club in Johannesburg on March 29. “Coming to South Africa is long overdue,” the Let It Go hitmaker said. “I’m not really sure why it has taken this long but I don’t want to be too upset about that because I am officially coming, but it’s simply because I haven’t been yet and I was made aware that I have got a lot of wonderful fans in South Africa, so it’s time to come and say ‘hi’.” The…

Schalk Bezuidenhout, the beloved South African comedian known for his quirky wit and bright sweaters, has dropped a bombshell. He confirmed that he and his wife, Mica McKechnie, are parting ways after less than two years of marriage. His announcement comes on the back of Siya and Rachel Kolisi’s split, leaving Mzansi heartbroken over another celebrity couple calling it quits. He took to Instagram over the weekend to ask fans to keep things kind, sharing that his mom loves to read the comments. On his Instagram Stories, he wrote: “The internet can be harsh sometimes. I want her to be spared from any hurtful words.” The outpouring of support has moved him, with fans and strangers alike stepping in to show love and offer encouraging words. Bezuidenhout captioned one…

Former director-general of the National Treasury, Dondo Mogajane, has left the door open to joining active politics in the future as he takes a sabbatical to write a book about his life in public service after stepping down from all professional roles and the boards that he serves on yesterday. Mogajane announced that he was stepping down as CEO of the Moti Group and chairperson of the Government Employees Pension Fund (GEPF), effective immediately, following months of public pressure over allegations linking him to the looting of VBS Mutual Bank. He has also been the CEO of the Moti Group since 2022 when he stepped out of the public service after 23 years in government. Mogajane announced yesterday in a video statement that he was stepping down from his roles.…

As the season of exams sweeps across South Africa, the South African Depression and Anxiety Group (SADAG) is stepping in to offer vital support to ensure learners maintain their mental well-being during this challenging time. Roshni Parbhoo-Seetha, SADAG’s projects manager for Education, highlights the importance of balance beyond academics. “Exam season can be tough, with many learners facing high expectations that lead to stress and anxiety. Our focus goes beyond academics – it’s about helping learners build resilience and stay mentally well-balanced under pressure. When learners feel supported in mind and body, they are more likely to thrive.” In light of this, SADAG has compiled five practical tips to help learners navigate the turbulent waters of exam season with poise and control: Create a Study Schedule: Organising study material into…

The inaugural Albertina Sisulu Memorial Lecture delivered a powerful message of unity and social justice, as speakers reflected on the lasting impact of one of the ANC)s foremost female leaders – Albertina Sisulu. Former president Jacob Zuma, who delivered the keynote address which touched on the criticism of the negotiations, revealed that the West forced the white people of this country to negotiate with the ANC as they feared that losing power through the barrel of the gun would strongly reduce their rule in the new dispensation. “Therefore, the Western countries said we are instructing you to negotiate because you have no alternative, if you compare two things fighting and you are defeated, you will have no role to play in this country than negotiating for your future, so that…

In a heartfelt plea to the community, the Gauteng Department of Health has urged residents to exercise caution when purchasing food from unregulated spaza shops. This urgent advisory comes in response to alarming reports of food poisoning that have affected children and adults throughout the province. Saturday evening marked a tragic incident in Alexandra when an 11-year-old girl, Lesedi Mulaudi, reportedly died after consuming snacks from a local spaza shop. Her mother, Maria, and younger brother Fentse are currently recovering at Edenvale Hospital with similar symptoms. The tragic events prompted a strong reaction from Alexandra residents, leading to the shutdown of several spaza shops allegedly linked to the sources of the food poisoning. Department spokesperson Motalatale Modiba expressed concerns from MEC Nomantu Nkomo-Ralehoko and the department regarding the rising trend…

The JSE All Share Index exhibited little movement yesterday, while the rand remained static As America braces for the conclusion of its electoral process, the implications of a second Donald Trump presidency ripple far beyond the shores of the US, particularly affecting nations like South Africa. With around two-thirds of voters already participating in early voting, local markets remain on pause as uncertainty looms over the potential outcomes. The JSE All Share Index and the rand exhibited little movement yesterday on the eve of the US election, reflecting a cautious sentiment among investors. The rand remained range-bound between R17.50 and R17.60 to the US dollar, retreating from its recent high against the greenback, while the All Share Index remained virtually unchanged at 86 047 index points by 4pm. “The rand…

In a season marked by environmental hurdles, South Africa has recorded a remarkable wheat harvest of 2.05 million tons for the 2023/24 marketing year, exceeding the five-year average of 1.98 million tons. This achievement underscores the resilience of the nation’s agricultural sector, particularly in light of the severe floods that hit the Western Cape in September last year, which raised concerns about substantial crop losses. Wandile Sihlobo, chief economist at the Agricultural Business Chamber of SA (Agbiz), yesterday emphasised the significance of this year’s harvest, especially since the Western Cape typically contributes nearly two-thirds of the country’s wheat crop. “Despite the initial fears of crop damage due to the floods, the wheat fields displayed remarkable recovery towards the end of the season, resulting in a commendable yield,” Sihlobo stated. However,…

South African Airways (SAA) took a significant step forward in strengthening trade ties within Africa as it launched its inaugural direct flight between Johannesburg and Lubumbashi, Democratic Republic of the Congo (DRC), on Monday and as it expanded its African footprint. The A320 aircraft departed from OR Tambo International Airport at 10.50am on November 4, 2024 and arrived safely at Luano International Airport after a three-hour journey. This marks the beginning of a new era in connectivity and commerce between two of Africa’s most vital mining cities, it said. SAA said many of the DRC’s biggest companies have their headquarters in Lubumbashi. Departure and arrival times between the two cities enable seamless ground transfers to boardrooms and sites that serve trade and industry in both nations, as well as to…

Hosken Consolidated Investment (HCI) announced yesterday the farm-out agreement between its 49%-owned Africa-focused associate, Impact Oil & Gas, and TotalEnergies EP Namibia B.V. had become unconditional and had been implemented. Impact Oil & Gas holds exploration rights in blocks 2912 and 2913B off the coast of Namibia, known as the Venus discovery, which are considered some of the most significant oil finds in recent decades. This comes after Impact Oil & Gas announced earlier this year it had farmed out its interests in Blocks 2912 and 2913B offshore Namibia to TotalEnergies EP Namibia B.V. and received an associated $99 million (R1.74 billion) cash payment, following receipt of relevant regulatory approvals from the government of Namibia and joint venture partner consents. Siraj Ahmed, Impact CEO said they were pleased to have…

The biggest night in music, the South African Music Awards (Samas), took place over the weekend when some of the biggest names in music were celebrated. Presenter Minnie Dlamini hosted the evening and made sure to pay homage to some of South Africa’s biggest names, among them Tyla and even Doja Cat – her father is actor Dumisani Dlamini. Expresso Morning Show and 5FM presenter Zanele Potelwa dazzled as the Samas’ Voice of God. South Africa’s international singing sensation Tyla was unsurprisingly a big winner at the awards ceremony. In absentia, she won Female Artist of the Year, Newcomer of the Year and Best Pop Album for her self-titled debut album. She also received the International Achievement Award. Her acceptance speech was played through video as she couldn’t…

Quincy Jones has died, aged 91, on Sunday, surrounded by his family, his publicist Arnold Robinson has announced. The legendary music producer’s family said in a statement: “Tonight, with full but broken hearts, we must share the news of our father and brother Quincy Jones’ passing. And although this is an incredible loss for our family, we celebrate the great life that he lived and know there will never be another like him.” The producer’s career spanned more than 70 years and saw him win 28 Grammy Awards out of 80. In addition to Thriller, he also produced Off the Wall and Bad for Michael Jackson, as well as records for the likes of Aretha Franklin, Donna Summer, George Benson and Dizzy Gillespie. Jones co-wrote and produced the single, We…

Controversial admission reveals the DA prioritised business over the needs of SA DA FEDERAL chairperson Helen Zille has made a startling admission, revealing that her party prioritised business over the people’s interests. Speaking at the SA Chamber of Commerce UK, Zille confessed that the DA was instructed by the business community to protect President Cyril Ramaphosa from the EFF and uMkhonto weSizwe Party (MKP). “We were told to prop up Cyril Ramaphosa and shield him from the EFF and MK,” Zille said, sparking controversy. According to Zille, Julius Malema’s EFF and Jacob Zuma’s MKP were not suitable for South Africa because large investors would leave the country. This revelation has fuelled criticism that the DA is more interested in serving business interests than the needs of South Africans. The party’s…

This past weekend, the African National Congress (ANC) gathered in Ekurhuleni, Gauteng, for a two-day International Relations (IR) Retreat aimed at reaffirming the party’s commitment to its progressive international relations policy. The meeting, attended by key figures including ANC first deputy secretary-general Nomvula Mokonyane and former president Thabo Mbeki, comes at a crucial time following recent political tensions regarding the South African government’s international stance, particularly concerning its relationship with Russia. The retreat was convened by the ANC’s subcommittee on international relations, following President Cyril Ramaphosa’s remarks at the BRICS Summit, where he described South Africa as an ally of Russian President Vladimir Putin. These comments sparked a heated political exchange with the DA, which distanced itself from Ramaphosa’s statements, further muddying the waters within the governing coalition. Adding to…

The festive season is often seen as a time for joy and celebration, but this year, cash-in-transit robberies are on the rise, posing a significant threat to public safety. Criminals are actively planning heists to intercept vehicles transporting money, despite the SAPS declaring war on such crimes. Recent incidents across Gauteng, KwaZulu-Natal, and the North West highlight the alarming trend. On Thursday, two suspects were fatally wounded during a shoot-out with police on the R59 in Kliprivier, Gauteng. One police member sustained a gunshot wound during the confrontation. The police acted on intelligence regarding suspects en route to commit a robbery in Sedibeng. When approached, the suspects opened fire, leading to their deaths, while one managed to flee the scene. A stolen firearm was recovered at the location. Lieutenant-General Tommy…

Ingredients 30ml oil 3kg lamb stew meat (cooked until tender, bones removed) 1 onion chopped 2 cloves garlic crushed 1 can chopped tomatoes 1 tbsp sugar 1 pkt Royco® Tomato Bredie Dry Cook-in-Sauce 2 cups water 8 lasagne sheets 2 pkt Royco® Lasagna Cheese Sauce Pasta Base 1 cup grated mozzarella cheese Method Heat oil in an sauce pan and sauté onion until soft. Add garlic, tomatoes and sugar and cook for two minutes. Add Royco® Tomato Bredie Dry Cook-In Sauce and mix to combine then add water, cooked lamb and stir to combine. Cook for 10 minutes. To assemble Spread some of the meat sauce at the bottom of an oven proof baking dish followed by cheese sauce then lasagna sheets. Repeat the layering until all the meat and…

As Americans make their choice in the presidential elections, Donald Trump and Kamala Harris will not stop the long-standing support for Zionism and the imperialist, capitalist oligarchy. Both candidates are ‘two sides of the same coin’. Critical issues and key topics such as the possibility of the US economy edging towards a recession, an increase of mass job layoffs, the crumbling social services, foreign policy, and international conflicts amongst other important topics that shape and have an impact on the working class, not only in America but around the globe, were intentionally ignored in their campaign speeches. The speeches from Trump and Harris were focused more on pettiness, rabble-rousing inaccuracies, and dirty politics. The entire political establishment in the US is thoroughly crafted to appease the funders, profit-driven corporations, and…