Innholdsfortegnelse for 2024-11-29 i Star

The Government Employees Pension Fund (GEPF) has identified pan-African real estate company Grit’s development subsidiary, Gateway Real Estate Africa (GREA), as a strategic platform for its rest-of-Africa real estate investments. In addition, the GEPF, represented by the Public Investment Corporation of South Africa (PIC), has injected $48.5 million (R879.9m) of cash equity as part of a $100m recapitalisation of GREA, and has appointed Zwethu Msindo as a representative to GREA’s board, a statement said yesterday. Msindo also serves as an employee-nominated trustee on the GEPF board and as chairperson of the advisory board, in addition to being a member of the investment committee and valuations subcommittee. “GREA’s consistent performance since inception in 2018 has been recognised by the GEPF as a strategic platform for its rest-of-Africa real estate investments,” said…

Discount retailer’s successful listing on the JSE helps cements Pick n Pay’s turnaround Boxer Superstores made waves with its R8.5 billion initial public offering (IPO) on the JSE yesterday, marking a significant milestone that also underscored Pick n Pay’s return to health. Pick n Pay retains a controlling stake of over 60% in Boxer. The South African grocery retail market is valued at R1.1 trillion. Boxer has approximately 68% of the discount grocery retail market and has earned its market-leading position by leading the “soft discounter” proposition in the South African market. This is aimed at delivering low prices for customers while adding additional value in the form of a slightly wider product offering than a hard discounter model, which typically offers customers only one product option. Boxer’s high sales…

South Africa’s producer prices recorded a year-on-year decline of 0.7% in October, marking the country's lowest producer price index (PPI) reading to date. This downturn follows a 1% increase in September, providing an unexpected relief for economists who had projected a PPI static at 0.0% and 0.5%. According to Statistics South Africa (Stats SA) yesterday, the decline was predominantly influenced by lower fuel prices, which created significant downward pressure particularly in the coal and petroleum sectors. As global crude oil prices softened, the local market also benefited from a stronger rand, which collectively drove the costs of petrol and diesel down sharply. In fact, Brent crude oil prices fell by 24.6% from September, leading to petrol prices decreasing by 22.2% and diesel by 26.9% in October. Despite the overall dip,…

Tax structuring and planning – words that can turn a room full of people into a symphony of blank stares and polite nods. But make no mistake, this is no amateur sport; it’s a high-stakes game where the winners stay out of jail, and the losers make donations to their local tax authorities. Think of tax structuring like brain surgery – theoretically doable, but only by professionals qualified to do so. Let’s dive into what makes this field so “special,” why dabble in it, and placing reliance on people without at least 20,000 hours of experience and required degrees (yes plural) will most likely be detrimental to your health and your wallet. Imagine a novel where every plot twist contradicts the last one. Now multiply that by ten thousand…

For Nampak, still South Africa’s biggest packaging group despite being in the throes of restructuring, it has been the best of weeks and the worst of weeks if the gyrations of its share price were anything to go by. Yesterday afternoon, the share price had increased sharply by 9.4% to R438.50 after it released supplementary information to a trading statement that it released to the market on Wednesday,. Shareholders had phoned the company and asked for additional information following the release of the trading statement. In the wake of the share price decline a day earlier, Nampak’s directors assured the market yesterday that “the underlying performance of the continuing operations remains sound and the outlook remains consistent with previous guidance provided.” On Wednesday, when the initial trading statement came out…

Take a trip down memory lane as Kool & the Gang bring their nostalgic sounds to Gauteng tomorrow. The American R&B, soul and funk band, which was formed in Jersey City in 1964, comprises brothers Robert “Kool” Bell and Ronald Bell, as well as Dennis “Dee Tee” Thomas, Robert “Spike” Mickens, Charles Smith, George Brown, Sir Earl Toon, Woodrow “Woody” Sparrow and Ricky Westfield. With two Grammy Awards, seven American Music Awards and a collection of 31 gold and platinum albums under their belt, they are renowned for hits like Funky Stuff, Hollywood Swinging and Jungle Boogie, which defined the sound of the 1970s. The 1980s brought their chart-toppers like Celebration and Get Down On It. Their musical influence transcends generations, with their songs sampled by artists spanning various genres,…

As the festive season approaches, many of us are eager to tuck into the holiday treats. Yet, amid the celebrations, it’s essential not to let nutrition take a back seat. Below, Virgin Active’s dietitian consultant Ashleigh Solomon offers a treasure trove of tips to ensure that as we deck the halls and gather around the table, we also keep our wellness journeys merry and bright. “This season, let’s not treat nutrition like the Grinch. We all know chocolate won’t kill you – but your third helping of Aunt Edna’s fruitcake might if you don’t fish the coins out first,” said Solomon. In that spirit, she has curated a list of festive food hacks, healthy indulgences, and creative food swaps that ensure you can enjoy the holiday without regret. Festive nutrition…

A woman from Ekurhuleni is devastated after being swindled of R200 000 by a foreign national who pretended to be in a romantic relationship with her. Though some may consider this a small amount, had banks granted her more loans, she could have lost about R1 million. The 39-year-old mother, who asked not to be named due to shame and fear of judgment, wishes to expose the man named “Khalid”. The imposter claimed to be 41 years old. They met on Tinder in November last year, and their relationship lasted for a year. “Please help by exposing the man who scammed me, Khalid. When we first met, he used to do everything for me. I never knew I would fall victim, and I am sharing this to caution other independent…

This year’s Nobel Prize in Literature 2024 was awarded to Korean national Han Kang for her “intense poetic prose that confronts historical traumas and exposes the fragility of human life”. Born in Gwangju in 1970, Han Kang studied Korean literature at Yonsei University and made her literary debut as a poet by publishing five poems. This included one of her hallmarks, Winter in Seoul, in the winter issue of Munhak-gwa-sahoe (Literature and Society) in 1993. The talented Korean writer launched her career as a novelist the following year by scooping the 1994 Seoul Shinmun Spring Literary Contest with Red Anchor. She published her first short story collection entitled Yeosu (with the Munji Publishing Company) in 1995. One of her most prestigious awards among many others is that her publication The…

Unisa proudly kicked off its much-anticipated Innovation Festival 2024 this week, a dynamic platform where innovation meets purpose. Annually, the event brings together a diverse community of researchers, academics, and entrepreneurs from across the globe, as well as Unisa staff and students, all united with a commitment to advancing societal innovation. A celebration of creativity The opening session featured remarks by Professor Thenjiwe Meyiwa, the Vice-Principal of Research, Postgraduate Studies, Innovation and Commercialisation at Unisa. Meyiwa described the festival as a celebration of creativity, leadership, and collaboration. Highlighting this year’s theme, Leadership, Creativity, and Commercialisation, Meyiwa emphasised the importance of translating bold ideas into impactful solutions, asserting that without commercialisation, innovation will not have an impact. She challenged participants to take their ideas further, transforming them into…

A woman, who took care of her late aunt’s husband, took the Pension Fund Adjudicator (PFA) to the Financial Services Tribunal (FST) after she was allocated 30% of his provident fund. The late Govinda Naidoo was a member of the Textile Industry Provident Fund and he passed away in July 2022. By virtue of his membership, a death benefit in the amount of around R312 000 became available. Naidoo lived with Phyllisha Reddy, who is related to his late wife. Reddy took care of Naidoo while he was sick, until he ultimately passed on. After his death, Reddy approached the Textile Industry Provident Fund and claimed 100% from Naidoo’s provident fund. She claimed that Naidoo had nominated her as the sole beneficiary, saying she was financially dependent on him, and…

Boland’s Grant Roelofsen and Gavin Kaplan dominated proceedings at the home of the North West Dragons to finish on top in their Four-Day Series clash at the JB Marks Oval in Potchefstroom yesterday. North West were jubilant early in the innings after Ruan de Swardt saw off dangerous opening batter Pieter Malan for a duck after they lost the toss and had to field first. None of them would have been ready for what was to follow as the Western Cape side, with Roelofsen and Kaplan scoring a mammoth 390 runs in their third-wicket partnership. De Swardt (2/58) toiled hard all day, and got just rewards as the new ball was approaching to finally break the partnership, dismissing Kaplan caught and bowled for a well-played 166 (off 238 balls, 23x4).…

Growthpoint Properties will dispose of South African assets worth R2.8 billion by June next year as it seeks to improve the quality of its local portfolio while it is also eyeing some significant investments. Although it is disposing of assets, Growthpoint said yesterday it believed that there has been an improvement in sentiment towards the real estate sector in South Africa. This was in line with firming up business sentiment under the Government of National Unity (GNU). The company has now targeted non-core retail, office and old industrial assets for disposal. “Our strategy to optimise our South African portfolio focuses on improving its quality through targeted investments and disposals,” said Growthpoint yesterday. “In line with this strategic intent, we are targeting R2.8bn of asset disposals for the year ending 30…

The South African Department of Energy had a final session of public participation today to explain the latest revision of the draft Integrated Resources Plan (IRP). I have some reservations that I will explain below, but I still want to congratulate the modellers for listening to those of us who sent our criticism. They did take some of it to heart. I put a small thread together on twitter regarding what we can anticipate: https://x.com/hkrugertjie/status/1861466983637606783 The government finally published realistic cost comparisons for various scenarios and it admits that offshore wind and concentrated solar is more expensive than nuclear. By implication, if the cost to firm the electricity (i.e. make it reliable) is taken into account then renewable regress to the mean of large thermal generation. That detail aside, the…

Dying without a valid will can have significant estate planning consequences, leading to outcomes that the deceased may not have intended or anticipated. In the absence of a will, your estate will be distributed according to a fixed order, which could result in unintended beneficiaries. Beyond these unexpected consequences, intestacy can affect nearly every aspect of estate planning. If you haven’t yet taken the time to draft a valid will, it’s crucial to consider the following points to ensure your wishes are respected and your estate is managed efficiently. Guardianship: When a parent passes away, the surviving parent becomes the legal guardian of any minor children. However, if a person dies intestate with no surviving parent, the State will appoint a guardian, which may not align with the deceased’s wishes.…

Tharisa Plc is expecting platinum group metals (PGM) prices to firm up over the next two years after raising revenues for the full year period to the end of September by 11% to $721.4 million (R13 billion). The company mines PGM and chrome in South Africa, and is also developing the Karo platinum mine in Zimbabwe. With prices of PGM suppressed over the past few years, Tharisa is taking a positive outlook for the next two years where it expects prices for the precious commodity to improve. “Tharisa remains firmly of the opinion that the PGM prices over the next 12 to 24 months will be higher, fuelled by the continued evidence that the internal combustion engine will remain relevant for a much longer time to come, and our firm…

South African multi-award-winning musician Tyla is riding a wave of extraordinary success, having made history yet again with her hit song, Water. According to Chart Beat by Billboard, Water has become the first solo song in history to spend 52 weeks at No 1 on the Billboard US Afrobeats Songs chart. The song, which was released on July 28 last year, peaked at No 11 on the TikTok Billboard Top 50. The song entered the Billboard US Afrobeats Songs chart at No 37 on September 9 last year, before debuting at No 67 on the US Billboard Hot 100 on October 14, 2023. In total, Water has been on the Billboard US Afrobeats Songs chart for 65 weeks. Tyla’s Tygers took to the comments to congratulate the “pretty girl from…

It will cost as much as R2 million for those who want to sit next to uMkhonto weSizwe Party (MK Party) president Jacob Zuma, at the party’s upcoming gala dinner. MK Party will celebrate their first anniversary with the main event being at the Moses Mabhida Stadium on December 15, followed by the gala dinner at the Olive Convention Centre the following evening. According to the party, the festivities are intended to raise money for the party’s future in addition as honouring their accomplishments. Stakeholders, organisations, and individuals are invited. “This celebration is more than an event; it is a moment to honour our shared legacy and pave the way for future success.” MK Party was launched officially in December 2023 in Soweto. Ticket pricing for the Convention Centre on…

Bidders Choice is hosting its year-end online auction of heavy equipment, machinery and tools on behalf of The Land and Agricultural Development Bank of South Africa, Knockout Trading and Projects CC and two others. Bids will close next week Wednesday from 11am. The lots include: John Deere 6195M series Tractor Freightliner Argosy 2004 Freightliner Argosy 2009 Cummins 500 ISX Auto shift with hydraulics for side tipper 2018 Tri-Axle Stepdeck low- bed trailer Agrico Tractor Viewing is at the Bidders Choice Bapsfontein Yard on Monday and Tuesday, from 9am to 3pm. For more information, please contact Jan at 082 308 6537 or visit www.bidderschoice.co.za |…

Distinguished poet, painter and man of letters Breyten Breytenbach has left the world a poorer place with his passing. Breytenbach, who was born in 1939, died on Sunday in Paris, the city where he had first been exiled in the 1960s. The multi-talented man, a great thinker in the true sense of the word, examined the themes of identity, exile and justice with his work. His brilliant career had extended to almost six decades; his paintings were exhibited in some of the world’s top galleries; and the literary and creative genius was awarded numerous and prestigious literary prizes. The City of Cape Town along with the rest of South Africa, has mourned his passing and the loss of a great son of the province and the country. Cape Town…

The City of Tshwane has invested in significant upgrades at the Tshwane Market, including emergency generators and an extended perimeter wall, to enhance food safety and security. MMC for Economic Development and Spatial Planning, Sarah Mabotsa, said the new emergency generators, which cost R4 332 900, will ensure that refrigeration systems remain operational during power outages, maintaining the quality and safety of produce. “The continuous refrigeration of fresh food means that suppliers, traders and residents can rest assured that the highest food safety standards can be adhered to. Fresh produce, being perishable, requires refrigeration from the point of arrival to the point of sale. A power failure can result in immediate spoilage, wastage and loss of value for the goods,” she said. The installation of emergency power generators, she said,…

A 5-month-old, 125kg orphaned white rhino calf from The Rhino Orphanage in Limpopo has successfully undergone life-saving surgery at the University of Pretoria’s (UP) Faculty of Veterinary Science. The calf had been exhibiting signs of severe abdominal pain (colic) for two days and was urgently referred for treatment after refusing to drink from her milk bottle, signalling a potentially life-threatening condition. Upon arrival at the faculty’s Onderstepoort Veterinary Academic Hospital, a team of veterinary experts immediately began working to diagnose and treat the calf. After sedation, ultrasound imaging revealed swollen and thickened loops of small intestine, indicating a serious gastrointestinal blockage. The veterinary team quickly determined that immediate surgery was necessary to explore the calf’s abdomen and identify the cause of her distress. The surgery, an exploratory laparotomy, was performed…

As Shaun Duwe raises a glass to mark the 21st anniversary of his agency, Anything Goes, he reflects on a remarkable journey through South Africa’s vibrant entertainment and music festival landscape. Since its inception in 2003, Duwe’s agency has not only thrived but has also become synonymous with world-class events, showcasing the dynamic evolution of the country’s cultural scene. Duwe’s journey began at the tender age of 15, when he discovered his passion for DJing and club culture. With a background rooted in marketing, he says he recognised the potential to merge his love for music with a savvy understanding of entertainment. It was this intersection that led to the birth of his agency, which has since emerged as a leading event management agency. “I immediately threw myself into promoting…

Proteas Women all-rounder Chloe Tryon says their poor execution with the ball cost them dearly in the second T20 International against England in Benoni. England lead the three-match series 2-0 following their 36-run victory at Willowmoore Park on Wednesday. The third and final encounter will be played at SuperSport Park in Centurion tomorrow (6pm start). The visitors lived up to expectations, and they have once again secured another series win against the South Africans. Both sides had something to prove coming into the series with the aftermath of the T20 World Cup earlier this year. For England, the win will surely put an end to the widespread criticism following their costly six-wicket loss against the West Indies, which saw them exit the tournament for the first time in the group…

The ever-volatile local currency eased 0.4% to R18.26 against the US dollar yesterday before recovering to R18.15/$1 in the afternoon, having been adversely affected by US President-elect Donald Trump’s forthright statements that he was determined to impose tariffs on items entering the US from Mexico, Canada and China, the US’ three largest trading partners. Having come close to breaking the key R17/$1 barrier just two months ago on positive sentiment, which would push investors into more risky assets, as well as confidence in the Government of National Unity, slowing inflation, and lower interest rates, Trump’s election three weeks ago reversed gains. The US Federal Reserve (Fed) has also turned bearish amid Trump’s threats to impose tariffs of up to 20% on imports, and 60% on Chinese goods. This has…

The Spar Group did well to lift taxed profit 20.9% to R1.6 billion off turnover that grew by only 4% in the year to September 30, despite ongoing challenges arising from an SAP system rollout and tough consumer operating environments. Turnover for the South Africa, Ireland, Switzerland, and Poland franchise grocery store group reached R152.3bn. Headline earnings per share increased 11.1% to 917.9 cents. The dividend was passed again. “The group made significant strides in its strategic priorities … Spar’s continuing operations have demonstrated a resilient performance,” directors said in the results yesterday. Spar’s chief operations officer Megan Pydigadu said revenues were generally lower in the second half as inflation had trended lower, but grocery market shares and margins were being maintained. She said in an interview that the pharmaceutical…

South African comedian Schalk Bezuidenhout is taking viewers on a journey to explore the bizarre and fascinating corners of the working world in his latest docuseries, The World’s Strangest Jobs. The show, which premiered on Sunday, sees Bezuidenhout travelling the globe to uncover some unusual professions, from pet detectives in New York to rental boyfriends in Tokyo. Bezuidenhout described it as the “perfect Sunday watch” for those curious about unusual career paths. The comedian hinted that the show reflected some personal changes in his life. Recently, he revealed on social media that he and his wife, Mica McKechnie, have decided to part ways after less than two years of marriage. “You’ll see there are a lot of references to things like my wife – awkward – but it’s a really…

Sean “Diddy” Combs has had his third bail application refused. The rapper, 54, is behind bars at a notoriously brutal New York jail after being arrested on September 16 on charges of sex trafficking, racketeering and transportation to engage in prostitution. So far, he has launched appeals to be released on a $50 million (R909 million) bond and asked to be released to be held on a private island ahead of his trial. Combs’ latest bail bid was denied after a hearing on Wednesday headed by federal judge Arun Subramanian, which was held after a bail bid launched by the performer during a court appearance on November 22. The judge said while refusing Combs’ latest bail application: “The court finds that the government has shown by clear and convincing evidence…

FORMER minister Ngoako Ramathlodi has confirmed that he has accepted the Bapedi royal family’s proposal for him to take charge of the position of the first Bapedi nation prime minister. The Bapedi royal family announced Ramathlodi, who is former Limpopo premier, during a media briefing in Sandton on Wednesday. This despite critics within the royal council expressing their dissatisfaction, stating they were unaware of the announcement and had not been consulted about the selection of a prime minister. However, speaking exclusively to The Star yesterday, Ramathlodi dismissed their assertions, saying that they should consult with the royal family. “I am the prime minister of the Bapedi nation… Those that are saying they were not consulted must be answered by the royal family,” Ramathlodi said. He said he was 100% consulted…

The South African Friends of Israel (SAFI) argued that renaming Sandton Drive after Palestinian Struggle hero, Leila Khaled, would starkly dishonour South Africa’s peace-building and reconciliation core values. The organisation’s stern disapproval comes after it led a protest against the pending proposal on Wednesday outside the City of Johannesburg Council Chambers in Braamfontein. The protest was supported by locals who attended in numbers, including members of the African Christian Democratic Party (ACDP) and former mayor of the metro, Mpho Phalatse. Spokesperson for SAFI, Bafana Modise, said changing the street to Leila Khaled Drive would be a step backward in the country’s efforts towards nation-building. “South Africa is a nation striving to heal its divisions. Renaming a prominent street after someone with such a violent legacy undermines this effort and promotes…

The victim was only 12-years-old. The name of the uncle cannot be disclosed to protect the identity of the victim and prevent secondary trauma. The uncle pleaded guilty and was subsequently convicted for the rape. The court heard in May 2023, the uncle was visiting his sister in Ermelo extension 5 where she resides with her daughter. In the evening, he went out with his friends to drink and came back to the home drunk. He slept in the kitchen where his two nieces were sleeping and started touching one niece and undressing her before raping her. The matter was reported to the police and the victim was taken to Ermelo Thuthuzela Care Centre for medical attention and psychosocial support. The uncle admitted his actions were wrong. In aggravation of…

For the first time since the Tshwane University of Technology (TUT) was established, the Ga-Rankuwa Campus – home to the Faculty of Economics and Finance – will host graduations on campus grounds. This is thanks to the new state-of-the-art multipurpose hall, completed this year and officially launched on 27 November. The Ga-Rankuwa Campus, which used to hold graduation ceremonies at the Soshanguve Campus, will celebrate graduations on campus for the first time when the autumn season kicks off in the first half of 2025. The spanking new hall boasts a seating capacity of 970 with a first-floor gallery that can accommodate about 240. Until now, the biggest hall at the Ga-Rankuwa Campus had room for only 200 students sitting for exams. The new hall can fit up to 485 students.…

Despite having been on a 12-week-long rehabilitation and conditioning break, left-arm fast bowler Marco Jansen led from the front on day two of the first Test at Kingsmead in Durban yesterday as South Africa dismissed Sri Lanka for 42 – the lowest Test total in South Africa since readmission. The lanky quick showed very few signs of rust as he blew the visitors away with figures of 7/13 in 41 balls, the best return of his 14-Test career. Alongside Kagiso Rabada and Gerald Coetzee, the 24-year-old rescued South Africa after they put up 191 runs in the first innings and cleaned up the visitors in only 83 balls, making it the shortest completed innings in 137 years of Test cricket. Most importantly, the fast bowlers had given South Africa the…

Lions coach Ivan van Rooyen selects his match-23 today for tomorrow’s United Rugby Championship clash against an under-pressure Munster at Thomond Park in Limerick. Here, Morgan Bolton looks at five players he hopes will crack the nod for tomorrow’s clash (9.35pm kick-off), and who could have a major impact on the match... Ruben Schoeman Against Leinster, the Lions lock was arguably their best player on the park, and in many respects, outplayed his more illustrious opposition. He made 18 tackles in that game, only missing two, while also effecting a turnover, making six carries and beating one defender. But it was perhaps the fact that he was ever-present and noticeable throughout his 60 minutes that was most pleasing. It was the type of performance that many have waited long to…

The Springbok Sevens are once again set to embrace the vibrant and supportive atmosphere of Dubai as they embark on their campaign in the World Rugby SVNS Series, hoping to replicate their success at their “second home”. Starting tomorrow, the Blitzboks will seek their sixth consecutive title in the season-opening tournament, hungry to establish strong momentum against formidable opponents Australia, Kenya, and France. With their first match against Australia scheduled for 8.50am, followed by a clash with Kenya at 12.58pm and a final pool clash against Olympic champions France at 6.44pm, co- captain Impi Visser expressed the team’s enthusiasm. “The excitement of a new season starting is palpable, and we always seem to jump the gun and be fast starters in Dubai,” he said yesterday. “Hopefully we can do that…