Innholdsfortegnelse for 2024-11-25 i Star

CEO Henry Laas says group remains solvent, with high-quality assets in underground mining Murray & Roberts Holdings, which first listed on the JSE in 1948, said on Friday that while it was solvent, a subsidiary and its local trading companies had gone into business rescue, and the listed shares have been temporarily suspended. The share price was suspended at R1.10 on Friday, a sharp decline in value from trading at R14.35 per share three years ago, mirroring a steady decline in the financial position of the international, specialised contracting and engineering group over the period. Headwinds for the group include liquidity constraints, especially in South Africa; the loss of contracts, with the descoping of the Venetia diamond mine a big problem as it accounts for more than 50% of the…

Stocks on the JSE ended the week marginally higher on Friday, with the All Share Index just 0.1% higher to 85 608 index points after a choppy session, achieving its seventh consecutive day of gains and a weekly rise of 2.1%. Gains on Friday were driven by the resource-linked sector, boosted by rising gold prices, which helped offset weakness in financials, industrials, technology, and retail stocks. The JSE’s advance had been supported by strong performance in the retail and financial sector just a day before, with Mr Price posting a 9% surge following robust earnings. Montauk Renewables led the rally on the JSE on Friday, rising 8.0% to R79.00 per share followed by Anglo American at 5.5% to R470.02 per share, and PowerFleet, which rose 4.9% to R123 per share.…

Negotiators from nearly 200 countries agreed early yesterday in a non-binding commitment that wealthy nations would aim to provide at least $300 billion annually by 2035 to help poorer nations suffering the most from climate change. But many delegates from developing countries blasted the agreement minutes after it was adopted, capping an acrimonious UN Climate Change Conference, known this year as COP29. The deal requires no specific pledges from any countries and falls short of the $1.3 trillion poor nations say that they will need every year a decade from now. While it triples rich nations’ current commitment to help vulnerable ones cope with mounting climate disasters, the new vow comes after more than a decade in which they struggled to meet that $100bn pledge. After spending two weeks inside…

I have no words to appreciate the whirlwind of moments over the past 14 days. It was a personal experience akin to a tsunami. The Basotho have a saying that perfectly captures such a culmination of events and the choices to be made when you can only be present in one place at a time. It involves what the Bantu refer to as a mythical, visible-invisible, dwarf-like, omnipresent, short male being called thokolosi, tokoloshe, tokoroloshe, or intokoloshi in different linguistic orthographies. In Basotho mythology, there was once a thokolosi who was found darting in different directions, talking to itself. Finally, when one individual gained the courage to ask why it was moving in opposing directions, the thokolosi replied, “The villages around have celebrations happening all at the same time, and…

Smash Afrika (real name Afrika Mdutyulwa) has been announced as the host of Big Brother Mzansi season five. The TV and radio personality takes over from Lawrence Maleka, who hosted the popular Mzansi Magic reality show for two seasons. “With his vibrant personality and undeniable charisma, Smash is set to breathe new life into the show and take Big Brother fans on a thrilling ride,” a statement read. The 36-year-old has earned widespread acclaim over the years for his stints on TV and radio, among them hosting shows on 5FM and YFM. He also presented Massive Music, which aired on Mzansi Magic and Channel O, and has been the MC of some of Mzansi’s biggest events such as Rocking the Daisies, Black Coffee’s Block Party and the DStv Delicious…

SPITCH Nzawumbi has stepped into the role of host for Unfollowed season two, promising an in-depth exploration of cancel culture’s impact on South Afri can celebrities. The radio and TV personality takes over the reins from newscaster Thembekile Mrototo on the Showmax Original series’ latest offering, which will premiere on Wednesday. The 35-year-old promises that viewers are in for a wild ride on the new season as each episode explores a different public figure, unpacking the controversies that have shaped their lives and careers. It will also feature insights from journalists, activists and legal experts. Those who will be featured include The Real Housewives of Pretoria star Mel Viljoen, controversial pastor Prophet Mboro and radio presenter Ngizwe Mchunu, who has made headlines for his contentious cultural promotion. “There are…

Power Utility Eskom has extended the deadline for prepaid electricity meters upgrade, as over a million customers, largely zero buyers, are reported to have not upgraded their meters. In a statement on Friday, the power utility explained current zero buyers with active meters have been granted an extension to update their meters to be KRN2 (Key Revision Number 2) compliant beyond the November as 24 deadline. This announcement follows hundreds of South Africans who have lined up at Eskom offices nationwide to recode their prepaid meters, driven by the looming deadlines and fears of losing power. Residents braved the early hours to reach these crucial centres, eager to ensure their electricity supply remained uninterrupted, yet many found themselves facing frustration as chronic delays beset the process. Despite announcing that the…

The International Criminal Court’s (ICC’s) decision to issue arrest warrants against the Israeli Prime Minister Benjamin Netanyahu, his former defence minister Yoav Gallant and a Hamas military leader Ibrahim al Masri has been described as a symbolic decision without practical implications. The ICC’s chief prosecutor, Karim Khan last week issued arrest warrants against the trio on charges of war crimes and crimes against humanity. Netanyahu’s office has responded to the issuing of the arrest warrants, saying: “Israel rejects with disgust the absurd and false actions levelled against it by the ICC.” Khan announced that the ICC judges had accepted his request to issue the arrest warrants against the three men for their complicity in the current war that began on October 7, 2023 when Hamas attacked southern Israel, killing more…

ANC MPs broke the law when they voted against holding President Cyril Ramaphosa accountable for failing to report the theft of millions of rand in undeclared foreign currency in his Phala Phala farm. This is among the arguments made by the EFF at the Constitutional Court in the party’s bid to force the National Assembly (NA) to take action on the recommendations of the section 89 (of the Constitution) independent panel chaired by retired Chief Justice Sandile Ngcobo. In November 2022, the panel told Parliament that Ramaphosa had a prima facie case to answer for failing to report the theft of the undeclared US$580 000 (nearly R8.8 million at the time the money was stolen in February 2020) at his Limpopo farm. However, in December 2022, the panel’s report…

Ingredients For the cornflake milk jelly 150 g Kellogg’s Corn Flakes 700 ml full cream milk 2 Forage and Feast rooibos teabags 30 ml Forage and Feast Wildflower Honey 4 g (2 sheets) gelatine leaves 15ml water 100 g Kellogg’s Corn Fakes For the lemon cream 2 egg whites 60 g castor sugar 5 ml lemon zest 50 ml lemon curd 300 ml double cream plain yoghurt Method In a medium saucepot bring the milk to a gentle simmer, remove from the heat and add the 150 Kellogg’s Corn Flakes and teabags and allow to infuse for 5 minutes. Put the water in a bowl and sprinkle the gelatine over it, allow it to sit for 5 minutes. Remove the teabags and strain the milk into a clean pot and…

A bitter dispute between Liberty Coal and Kego Mining has spilled into the Mpumalanga High Court over the control of some mining rights at Optimum Coal Mine that re-opened earlier this year. The re-opening of Optimum Coal Mine under the control of Liberty Coal in April, with potential to produce 13.5 million tons of the energy commodity, was expected to boost Eskom’s generation capacity. The Optimum Coal Mine was previously controlled by the controversial Gupta family and former resident Jacob Zuma’s relative. However, the National Prosecuting Authority (NPA) obtained a court application for two forfeiture orders on the grounds that the Guptas bought the mine from Glencore with proceeds from corruption. Now, Liberty Coal has approached the Mpamalanga High Court to institute proceedings against Kego Mining “in relation to the…

The past five years have seen various funds and managers come to the fore in the annual Raging Bull Awards, which recognise outstanding performance by asset managers offering unit trust funds to retail investors. While large established firms such as Ninety One (previously Investec Asset Management) and PSG featured strongly, smaller, so-called “boutique” managers stole the limelight in many instances. 2020 The 2020 ceremony, for performance to the end of 2019, saw Cape-Town-based boutique manager Mi-Plan clinch the South African Manager of the Year title ahead of Investec Asset Management. Mi-Plan director Anton Turpin said the awards gave smaller firms a platform to show off their investment skills: “It’s an opportunity for smaller managers to reach investors and tell them about the rewards they can get through good stock selection,…

South African financial markets ended the week on a positive note as investors welcomed the Monetary Policy Committee's (MPC) decision to cut the repo rate by 25 basis points to 7.75%. This conservative approach by the monetary authorities was mostly expected and discounted by the financial markets from the beginning of the week. The annual inflation rate, measured by the Consumer Price Index (CPI), dropped significantly from 3.8% in September 2024 to 2.8% in October, following a 0.1% month-on-month decline in the index. The primary driver of this sharp decrease was the transport category, which recorded a 5.3% year-on-year decline, largely due to fuel prices being 20% lower than a year ago. This reduction in transport costs contributed -0.8 percentage points to the CPI basket and was the main factor…

There were fewer bids for Gemfields’ latest high-quality emerald auction as the luxury and gemstone market continues to face turbulent demand dynamics, said Adrian Banks, Gemfields’ managing director for product and sales, on Friday. Gemfields stocks fell 4.8% to R2.00 per share on Friday, and has plunged by 26% and 36% in the last 30 days and year-to-date, respectively. Gemfields’ latest auction for stones mined from the company’s Kagem operation in Zambia, was conducted between November 4 and November 21, raking in a total of $16.1 million (approximately R290 million) in revenue. It offered 43 lots for sale under the November auction, with 30 of these or 70% sold. Under the latest sales lots, and of the 141 084 carats offered, about 200 460 offered were sold off at an…

Coca-Cola has clarified that Valpre, a well-known bottled water brand, is “proudly bottled from source” in Lagerspoort, Heidelberg, South Africa, following concerns raised by consumers about the country of origin and the authenticity of Valpre water sold in South Africa. This comes after the National Consumer Commission (NCC) proactively engaged the Coca-Cola company to seek clarity on the matter as a result of the confusion on barcodes on the bottles. The product, in question, carries a barcode: 5449000107664, which aligns with the Global Standards 1 (GS1) system — an internationally recognised standard for product tracking and identification. In a statement on Friday, Coca-Cola further explained that the company used internationally acquired GS1 barcodes and those acquired in South Africa for their products produced in South Africa. Therefore, according to Coca-Cola,…

THE Last Ranger, a South African short film that shines a spotlight on rhino poaching, has garnered multiple awards on the international film festival circuit. The production by Kindred Films, which is supported by Anele Mdoda’s Rose and Oaks Media, is the second instalment in the anthology series When The World Stopped. Since its release in January, it has received multiple accolades, among them Best Narrative Short Film at the Pan African Film Festival, the San Diego International Film Festival and the Cordillera Film Festival, among others The film also qualified for Oscar contention for Best Live Action Short Film at the 2025 Academy Awards, while also winning Best Screenplay and Best Actress for Liyabona Mroqoza and Avumile Qongqo. The Last Ranger has also garnered several other awards at noted…

As South Africa embarks on the annual 16 Days of Activism for No Violence Against Women and Children, the nation stands confronted by a stark reality: gender-based violence (GBV) remains an overwhelming and devastating issue. This annual United Nations initiative runs from November 25 to December 10, aiming to raise awareness and combat violence against women and children. Deputy President Paul Mashatile was expected to officially launch the government’s 16 Days of Activism in Rustenburg, North West, today. His spokesperson, Linah Ledwaba, said: “This year’s activation will be held under the theme ‘30 Years of Advancing Collective Action to End Violence Against Women and Children’, with the sub-theme for the campaign being ‘Harnessing Technology and Innovation to Combat Gender-Based Violence and Accelerate a gender-inclusive digital economy’.” This year’s 16 Days…

THE Steve Biko Academic Hospital has made a significant investment in healthcare with the acquisition of advanced medical equipment worth over R26 million, aimed at enhancing patient care and operational efficiency. The newly-procured cutting-edge health equipment and medical technology, which was unveiled by Gauteng MEC for Health and Wellness, Nomantu Nkomo-Ralehoko, is expected to significantly enhance patient care, reduce complications, and shorten hospital stays. The multimillion rand equipment includes two Catheterisation laboratories (Cath Lab), two Magnetic Resonance Imaging machines, a Positron Emission Tomography-Computed Tomography, three Bucky X-ray units, a Chest X-ray unit, three Mobile C-Arm machines and six Mobile X-rays. According to Nkomo-Ralehoko, the procurement aligns with the department's priorities to modernise and improve health infrastructure, patient care, and operational efficiency. The equipment is designed to be less invasive, more…

Once again we are left dumbfounded by the lack of accountability and oversight at our ports in Durban. Multiple expired food items plus antibiotics have been found in a warehouse on the Bluff. SAPS provincial police commissioner Lieutenant-General Nhlanhla Mkhwanazi said in an interview with SABC News that they are looking into the matter. He spoke with real authority and reminded me of an old school gentleman who respects and deserves his position. We need more tough-talking, no-nonsense leaders like him in our weakened SAPS, since Bheki Cele failed so dismally at keeping us all safe. The fact that so many of these expired, life-threatening food items could make their way into our country and into shops, albeit spaza shops, so easily and so undetected, leaves one wondering how secure…

The Emirates Lions return to Europe this week in what could arguably be a season-defining fortnight. The next block of four matches – two of them on the other side of the world – could possibly have a major impact on the Joburgers’ ambitions. Several areas within the Lions’ systems – squad depth the foremost – will be stress tested. Logistics and player management will also come under intense scrutiny as coach Ivan van Rooyen and Co consider their options in games against Munster, the Ospreys, Pau and the Stormers. The first two are in Limerick and Swansea, respectively, the former a United Rugby Championship (URC encounter), the latter an EPCR Challenge Cup clash. Thereafter, the Lions will have to rush home for French outfit Pau, also in the Challenge…

Following the end of several high-level summits on climate change and Just Energy Transition, there is still no single standard against which companies can report their environmental, social, and governance (ESG) progress, even as governments call for more to be done to tackle climate issues. At the conclusion of the United Nations’ COP29 held recently in Azerbaijan, UN Secretary-General António Guterres urged all attendees work together to deliver an ambitious and balanced package on all pending issues, including a new ambitious climate finance goal. “The need is urgent. The rewards are great. The time is short,” he said. This was preceded by the 19th G20 Summit in Brazil that culminated in a Leaders’ Declaration, which sets out aims that include action towards sustainable development, energy transitions and tackling climate issues,…

The South African banking sector is experiencing a wave of M&A activity, driven by a combination of competitive pressures and a more favourable economic outlook, renewed optimism in South Africa following the formation of the Government of National Unity (GNU). Challenger banks are seeking to expand their market share, while established incumbents aim to diversify and defend their positions. Capitec: Shooting the lights out Capitec’s business model is evolving beyond traditional banking. This reporting season, Capitec posted strong results, far-exceeding the big-four banks, printing stellar revenue growth, both from lending and non-lending activities. Net Interest Income (NII) continued to benefit from higher interest rates, while Capitec’s Non-Interest Revenue (NIR), particularly net commission fee income, was up 29% as customers continue to adopt value-added services, reflecting the benefit of Capitec’s 23…

The Political Party Funding Act, adopted by the 6th Parliament and signed into law by President Cyril Ramaphosa in 2021, is one of the most important interventions by the ANC-led government to remove the cancer of corruption endemic in our body politic. This is not just a threat to the ANC as the leading political party, but to all parties, more so in the era of coalitions where even a 1% party can enter the Cabinet, a Provincial Executive Council, or a Mayoral Committee. It is a threat to working-class communities who depend upon their taxes funding a well-oiled developmental state geared to serve the needs of the poor and not the elite, let alone to be siphoned off by parasitic tenderpreneurs. The damage done by the decade of state…

Novus Holdings, the printing, packaging, and educational resources company that last week announced a bid for listed IT distribution company Mustek, reported on Friday that interim diluted headline earnings per share more than doubled to 55.56 cents from 25.01 cents last year. Revenue increased by 3.3% to R2.09 billion in the six months to September 30, while operating profit rose to R196.4 million from R168.6m, as shown in the results released on Friday. Headline earnings per share increased to 59.36 cents from 28.77 cents. No interim dividend was declared. Novus directors said that the Mustek acquisition reflected a planned transition to a more diversified investment holding company, which has its benefits and disadvantages. “The most significant disadvantage is the underlying investments often trade at a discount, but as active shareholders,…

The African Development Bank (AfDB) has committed itself to prioritise integrated regional projects and climate resilience in the Southern Africa region as it embarks on its new 10-Year Strategy. Speaking at the celebration of the bank’s Diamond Jubilee on Friday, AfDB director-general Leila Farah Mokaddem said the bank has to date approved 970 operations valued at approximately $23 billion (R418bn) for the Southern African region alone. Mokaddem said the 60th-anniversary celebrations were a testament to the bank’s resilience and the enduring support of its partners, saying it remained steadfast in its mission to transform lives and catalyse growth across the continent. She said projects like the Lobito Rail Integrated Corridor, connecting Angola, DRC, and Zambia, promised to drive economic growth, agriculture value chains and renewable energy investments. “Our current active…

MKP leader out to ‘save former party from destruction’ THE uMkhonto weSizwe Party (MKP) leader Jacob Zuma and his former party, the ANC, are potentially heading for a legal battle after the former president’s bid to overturn his expulsion from the once-ruling party was unsuccessful. This came after the ANC’s National Disciplinary Committee of Appeal (NDCA) upheld the verdict of the National Disciplinary Committee, cementing Zuma’s permanent exit from the party he joined at the age of 16 and led as president from 2007 to 2017. Zuma was expelled from the ANC in July. Zuma’s brother, Khanya Zuma, said: “My brother is fighting for the party he worked so hard for not to be destroyed. I don’t know whether he is going to take the party to court because we…

A Soweto father of six children insists the woman who appeared before the Palm Ridge Magistrate’s Court for allegedly scamming different women, who lost R2 million in total, also defrauded him. Ishmael Masango (not his real name) was emotional as he sat in the public gallery of the packed court when the Limpopo businesswoman, who resides in Gauteng, Mmakgomo Doris Ngcobo, 42, walked into the dock. Ngcobo, known to victims of scams only as Lebo or Linky, was flanked by her co-accused, two Ugandan nationals, Derrick Nsubuga, 34, and Nassazi Joan, 31. All victims who have opened cases against Ngcobo remember her as this swanky woman driving German sedans and adorned in Louis Vuitton apparel and accessories. “In the two days, I closely interacted with her, I could see the…

rAge 2024, taking place from November 29 to December 1 at the Johannesburg Expo Centre, Nasrec, celebrates local creativity and innovation with its much-loved Home_Coded initiative and Afro Geek’s Afro-Futuristic showcase. Among the stand-out titles is Sigma Studios’ Omen, a third-person horror game with a twist: players take on the role of a monster hunted by others. Set on an accursed island, the game plunges players into a gripping narrative of betrayal, loss, and supernatural forces. Brandon Banks, lead developer at Sigma Studios, says: “Omen offers a unique third-person horror experience where you play as the monster, hunted by others. “With dynamic AI, each encounter is unpredictable, making it a thrilling, replayable experience.” Visitors to rAge can enjoy a preview of Omen, purchase limited-edition prequel comics, and get an exclusive…

THE Council on Higher Education (CHE) has urged the country’s public and private universities to be cautious when awarding honorary doctorates and professorships and avoid honouring persons holding public or political office. The CHE has issued a good practice guide on honorary degrees and professorships following concerns about misuse of honorary degrees and professorships by recipients and the potential abuse of the practice despite higher education institutions’ good intentions for the awards. “Honorary degrees are not normally awarded to serving politicians or government officials or anyone currently holding public or political office,” the council stated in the guide. According to the CHE, exemptions from this practice might be allowed if an institution has clear justification and institutional policy allows for it under clearly expressed conditions. The CHE is an independent…

A remarkable conservation project at the University of Pretoria (UP) is providing not only the restoration of a significant artwork but also valuable insights into the institution’s academic offerings and collaborative spirit. The peeling and cracked oil painting, Harlequins Homage to Guernica, by acclaimed South African artist Christo Coetzee, has necessitated an in-depth assessment that has engaged both students and experts from around the globe. The painting, completed in 1987, has an illustrious backstory of its own. Donated to UP by Coetzee, who also bequeathed his entire home and art collection to the university, the work pays homage to Picasso’s iconic Guernica, with its five clown-like figures and a spectral black dog – an evocative representation of the trauma and chaos of human conflict. As part of the restoration efforts,…

The diversion of nearly R19 million from South Africa’s Taxi Recapitalisation Programme (TRP) to fund President Cyril Ramaphosa’s inauguration has reignited discussions about the government’s inability to utilise funds designated for critical public safety initiatives effectively. This revelation raises pressing concerns about systemic inefficiencies within the Department of Transport, resulting in the continued endangerment of drivers and commuters who depend on minibus taxis daily. The TRP, launched in 2006, was conceived as a transformative initiative aimed at modernising South Africa’s minibus taxi fleet by phasing out old, unsafe vehicles. The programme’s overarching goal was to foster a safer and more reliable public transport system. However, nearly two decades later, the programme’s implementation has been marred by inefficiencies, inconsistent execution, and a lack of measurable progress. This failure not only undermines…

Max Verstappen’s rivals were quick to congratulate the Red Bull driver on winning his fourth consecutive Formula One championship yesterday but said they did not believe the Dutchman was invincible. Verstappen secured the championship in Las Vegas by finishing in sixth, one place ahead of title threat Lando Norris of McLaren along the neon-lit Las Vegas Strip. “Nobody is unbeatable,” race winner George Russell of Mercedes told reporters. “You go through these phases where teams and drivers together are dominating and people think if I went up alongside them, I wouldn't be able to compete with them. “But you have to have belief in yourself.” Verstappen rewrote the F1 record books in 2023 and started this season strongly with a dominant car before hitting a tough patch midway through the…