Innholdsfortegnelse for 2024-12-03 i Star

Naspers reported a fivefold improvement in earnings before interest and tax (EBIT) for the six months to September 30 after their multinational internet companies became profitable. Amsterdam-based e-commerce subsidiary, Prosus, plans more listings after last month’s initial public offering (IPO) of Swiggy in India. More than $2 billion (R36.4bn) of assets were sold during the period, including exiting its Trip.com position in China. The results indicate a significant improvement in operations - a key factor behind the appointment of the Group CEO Fabio Bloisi on July 1, 2024, was that the e-commerce investments needed to become profitable because, at the time, Naspers and Prosus’ share price valuations were based purely on the stake in China software and gaming group Tencent. Prosus hopes to list PayU next year, and other Indian…

Martin Hesse Personal Finance is proud to introduce its new data partners for the upcoming 2025 Raging Bull Awards at the end of January. The awards showcase outstanding performance in the collective investment schemes industry, recognising funds and managers that consistently outperform their peers, and thus giving consumers a reliable reference for choosing investments with confidence. Two respected and innovative global financial services firms, Iress and Apex Group, have partnered with Personal Finance to provide the market data and calculations to determine the Raging Bull Award certificate and trophy winners, ensuring the awards continue to enjoy their long-standing credibility and prestige in the South African investment industry. Iress Iress South Africa is part of an international group based in Melbourne, Australia, that provides market data and wealth management software…

Listed infrastructure company, Aveng, has sold the remaining stake it held in Dimopoint, a special purpose vehicle of 35 properties made up of light and heavy industrial portfolio located throughout South Africa, in line with its strategy of selling non-core assets. In a statement to shareholders yesterday, Aveng said it had sold the 30% stake it had been holding on to since 2015 to Collins Property Group for R96 million, effective December 2. This follows the deal, almost a decade ago, which saw it sell 70% of the entity to Collins via its Imbali Props 21 unit. The value of the deal is below that of the fair value attributable to the Dimopoint investment as at June 30, which was R142m. The fair value of the provisions and lease liabilities,…

Alexander Forbes Group Holdings lifted operating income a robust 12% to R2.14 billion in the six months to September 30, driven by higher assets under management (AUM), consolidation of acquisitions, inflationary increases on products, and higher than expected two-pot pension claims volumes. The financial services company said yesterday the “robust results” were due to higher average AUM following positive market performance, inflationary increases within the retirement and healthcare consultancy client base, and high client retention. An interim cash dividend of 22 cents a share was declared, up 10% from the dividend in 2023 of 20 cents per share. The share price traded 1.76% higher to R7.53 by yesterday afternoon, a level where it had gained 48.5% over 12 months. The directors sad that to date, the company had paid over…

KykNet’s fliekNET pop-up channel is making a grand return this festive season. Known for its selection of Afrikaans feature films, short films and documentaries, fliekNET has become a staple for movie lovers during the holidays. Since launching in 2014, the channel has been a celebration of Afrikaans storytelling, offering everything from nostalgic classics to award-winning contemporary gems. Over the years, fliekNET has treated viewers to films that have become firm favourites among families. Think of As Jy Sing, a feel-good musical comedy that lifts the spirits, or Pad Na Jou Hart, a romantic road movie that tugs at the heart while delivering a good laugh. Then there’s Vir Altyd, a touching drama about rekindling lost love, and Liefling, Die Movie, South Africa’s first Afrikaans musical, which had audiences singing along…

Juice WRLD’s legacy lives on through the release of his highly anticipated final album, The Party Never Ends. The American rapper and singer and songwriter, real name Jarad Higgins, died from oxycodone and codeine toxicity on December 8, 2019, just days after his 21st birthday. Scores of fans across the globe are thrilled about his new 20-track offering, which was released posthumously on Friday. It features top collaborations by Eminem, Nicki Minaj, Offset, Fall Out Boy and The Kid LAROI. It also includes the standout track, Misfit, which is accompanied by a music video directed by longtime collaborator Steve Cannon. The track encapsulates Juice WRLD’s outsider status, celebrating individuality with infectious acoustic guitars and powerful beats. The album also includes All Girls Are The Same 2 (Insecure), which features Minaj.…

KZN collapse sparks allegations of internal betrayal, alignment with the rival party The African National Congress (ANC) has read a riot act to some of its members who are said to be working with the uMkhonto weSizwe Party (MKP). This comes as the party grapples with mounting tensions and allegations that some members are secretly aligning with the MK Party. The news follows the ANC’s dismal electoral performance in KwaZulu-Natal (KZN), where support has dropped sharply from 54% in 2019 to a mere 17% in the latest elections. During a National Working Committee (NWC) meeting held in Boksburg yesterday, ANC spokesperson Mahlengi Bhengu-Motsiri addressed the concerning allegations, asserting that members who no longer wish to remain in the party are welcome to leave. “We have been made to believe that…

As South African schools prepare for closure, families across Johannesburg are on the lookout for exciting activities to keep the whole crew entertained. From thrilling amusement parks to tranquil nature reserves, the options are vast and varied, ensuring memorable experiences for everyone. Here’s a comprehensive list of family-friendly activities that promise to bring joy and excitement to your school break. Victoria Yards: Enjoy a creative space that incorporates art, food, and culture in a vibrant community atmosphere. Gold Reef City: Dive into this exhilarating amusement park, featuring thrilling rides and a glimpse into Johannesburg’s gold-mining history. Johannesburg Zoo: A classic family outing; observe an array of wildlife and learn about animal conservation. The Wilds Nature Reserve: Take a leisurely stroll in this hidden gem, exploring its beautiful gardens and tranquil…

THE pressing need for student accommodation in Tshwane’s inner-city remains a top priority, according to MMC for Housing and Human Settlements, Aaron Maluleka. He said an urgent need for student accommodation was because of several institutions of higher education in the City and some with multiple campuses. Recently, Maluleka joined the Gauteng MEC for Human Settlements, Tasneem Motara, at the launch of the Ha Bo Rena student accommodation at 459 Hanny Street, Pretoria Gardens. He expressed gratitude with the expansion of the affordable student accommodation project, which is part of the work conducted by the National Empowerment Fund (NEF) and the Gauteng Partnership Fund (GPF). “The launch of the student accommodation marks a significant step forward in addressing the growing need for quality, affordable student housing in Tshwane,” he said.…

AT LEAST 48 newly-appointed officers at the Tshwane Emergency Services Department have been praised for bringing with them specialised skills to boost the department’s capacity and enhance the delivery of quality emergency services to communities. The new officers were welcomed and congratulated during a prestigious event at the Central Fire Station in Pretoria, where they were awarded ranks. The recruits will fill critical positions such as district commanders, company commanders, fire safety officers, emergency planning officers, and disaster management officers. Department spokesperson Lindsay Mnguni said the new officers possess a range of skills, including negotiating, leadership, project management, communication and advanced linguistic proficiency. They have also demonstrated a willingness to accept responsibility and attention to detail, even under extreme pressure. Mnguni said: “Emergency planning officers perform skilled technical tasks associated…

An Ekurhuleni woman, who was deceived in a love scam, expressed her shock when the alleged scammer, Khalid Mundari, reached out to her, asking her to withdraw her case before repaying her. Living in fear, she revealed that he threatened to release her photos and claimed he could use witchcraft against her. Despite the threats, she vowed not to drop her fraud case with the South African Police Service (SAPS), saying she would never let herself be scammed again. The Star recently reported on how the imposter swindled her out of R200 000. Over the weekend, she received a call from Khalid, which left her feeling scared and conflicted. “I was shocked to receive his call, but I got scared too because there is a threat saying I should…

S&P Global Ratings has placed state-owned logistics giant Transnet on credit watch, citing concerns over the company’s financial stability and operational performance. The credit watch placement reflects S&P’s concern that Transnet’s turnaround may not yield timely improvements in cash flow and leverage, potentially triggering a downgrade. This comes amid ongoing efforts by Transnet to implement a recovery plan aimed at addressing its mounting challenges. The global ratings agency maintained its ‘BB-’ issuer credit rating on Transnet’s senior unsecured debt and affirmed its ‘BB’ rating on the R3.5 billion government-guaranteed debt. However, S&P’s action underscores the pressing need for Transnet to tackle high leverage levels and restructuring of its capital framework. Transnet’s Group CEO, Michelle Phillips, on Monday acknowledged the challenges, but expressed confidence in the recovery plan approved by the…

Moral principles or a single set of behaviors are not always sufficient to constitute ethical behavior. What is morally right and wrong, as well as good and bad, are the subjects of ethics. Unlike other fields of study, such as the sciences, ethics is not a topic of factual knowledge. The focus is on identifying the characteristics of normative theories and using these sets of rules to solve real-world moral issues. For example, it is commonly accepted that it is wrong to kill someone else, that it is good to return a lost wallet, that it is bad to litter, and so on. During this year’s book launch in Sandton, I attended the second instalment of Prof. Wiseman Nkuhlu’s book, “A Life of Purpose”. This book chronicles more than 60…

STANDARD BANK, Africa’s biggest bank by assets, both benefited and lost out because of the rand’s strength, especially in the four months to October, it said in a voluntary trading update covering the 10 months to October it issued yesterday. The bank, which expects to publish full-year results in March 2025, yesterday said that currency “devaluations in various countries in which the group operates on the African continent, together with, more recently, the stronger rand, continued to dilute the group’s performance in rand”. Previously, Standard Bank’s view was that this trend would moderate in the second half of the year. So far, with two months left to include in its reporting for the year, this has not been the case. It reiterated its previous guidance for the full year to…

Shares in Mantengu Mining soared 8.75% to R0.87 yesterday on the JSE after it said the Competition Commission of South Africa has approved its acquisition of Sublime Technologies. Shareholders were advised that the last remaining suspensive condition to the acquisition is Sintex ensuring that Sublime's bank account is in credit in an amount of at least the Rand equivalent of $1 million (R18.2m). “This suspensive condition is expected to be addressed imminently,” it said. Mantengu said the deal was in line with its strategy of unlocking new value in the mining services sector. Sublime is the only Silicon producer in Africa and currently accounts for approximately 2% of the global market share. Sublime manufactures and distributes SIC. SIC is a hard chemical compound containing silicon and carbon and is…

Bass guitarist for alternative rock band Fokofpolisiekar, Wynand Myburgh, is thrilled that after 21 years, the group is stronger than ever. Also known as Polisiekar or FPK due to the obscenity in the name, the Cape Town band comprises lead vocalist Francois van Coke, rhythm guitarist Hunter Kennedy, lead guitarist Johnny De Ridder and acoustic drummer Justin Kruger. They have been together since the band formed in 2003, with drummer Jaco Venter joining them in recent years. Myburgh, who is also known as Valkie Van Coke, has described their 21-year journey as “a blast, a blessing and a privilege”. “This is exactly what we all wanted to do and we are doing it,” he added in a recent interview. The band was formed in April 2003, initially as…

THE Border Management Authority (BMA) has intercepted more than 300 “high-value” vehicles, which were being illegally taken out of South Africa through different ports. Addressing the media yesterday over the readiness of the law enforcement agency ahead of the busy festive season, BMA commissioner, Michael Masiapato, said authorities have adopted a zero-tolerance approach to clamping down on all forms of criminality at ports. “In addressing the scourge of illegal migration, the BMA has managed to intercept and stop about 410 000 individuals attempting to enter the country illegally since the deployment of the first cohorts of the Border Guards on July 15, 2022. In this regard, the majority got arrested, fingerprinted, declared undesirable for period of five years, and deported,” said Masiapato. “Further, we have been able to detect about…

The uMkhonto weSizwe Party (MKP) says it is confident the party can win its case against the Electoral Commission of South Africa (IEC) after obtaining new information. The Jacob Zuma-led party also said its plans to oust the KwaZulu-Natal coalition government are at an advanced stage as it is involved with discussions with “friendlies” in the left-aligned ANC in the province. Zuma, speaking to party supporters in Vosloorus, east of Johannesburg, at the weekend as part of the party’s 1st anniversary celebrations, claimed the May 29 elections were rigged and he accused IEC officials of stealing MKP votes and “donating” them to other parties. “The people in charge of counting votes, took our votes and gave them to other parties. They deprived us of a two-thirds majority. We wanted to…

As the festive season approaches, many find themselves caught in the whirlwind of holiday shopping, searching for the perfect gifts to delight family and friends. For those with a penchant for transforming a house into a home, the home décor aisle offers an array of thoughtful options that are sure to impress. To ease the pressure of finding that perfect gift, RE/MAX of Southern Africa has compiled a selection of ideas sure to brighten any space. RE/MAX of Southern Africa has curated a list of thoughtful holiday gift ideas that are sure to delight and impress. Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa, emphasises the dual opportunity this festive period brings: “The holiday season is a busy time for many, but it’s also an excellent opportunity…

As of the end of April 2024, the United Nations High Commissioner for Refugees (UNHCR) reported that more than 120 million people worldwide had been forcibly displaced due to human rights violations, conflict, persecution, violence, and major disruptions to public order. In its Global Appeal for 2025, the UNHCR highlighted that of this number, over 60 million people are women and girls, placing them at heightened risk of gender-based violence (GBV). Globally, nearly one in three women experience sexual or physical violence in their lifetime, and forcibly displaced women are 20% more likely to experience intimate partner violence (IPV) compared to non-displaced women. In 2023 alone, conflict-related sexual violence increased by 50%. Displacement can lead to new risks for women and girls, and increase the possibility of violence. These risks…

Orlando Pirates head coach Jose Riveiro has defended his side’s performance in their recent defeat where they relinquished their unbeaten tag in the league to Stellenbosch at home. The Buccaneers suffered their first loss in the Betway Premiership, with a Devin Titus first half strike deciding the game, ending a run of seven successive wins. Speaking after the game at the Orlando Stadium, the Spanish-born mentor felt his side lost undeservedly but applauded Stellies for a combative showing. “It was the game we expected. We had a good start to the match, a good 15, 10 minutes, with opportunities through (Thabiso) Monyane and (Deon) Hotto in the box,” he said. “They threatened early in the match, as we planned to do. We didn’t capitalise. “It was difficult to play advantage…

The Proteas Women’s team are hoping the return of the experienced stalwarts Marizanne Kapp and Ayabonga Khaka for the ODI series will result in a change of fortunes. Kapp (34) and Kapp (32) both sat out the recent T20I series against England, which the visitors dominated with a 3-0 clean sweep. Convenor of selectors Clinton du Preez had opted to provide a couple of younger players such as Annerie Dercksen, along with a few others greater responsibility in the starting line-up. Proteas all-rounder Nadine de Klerk believes the exposure to high-pressure situations against a quality team such as England will be of great value longer down the line, but right now Kapp and Khaka’s return will be well received within the dressingroom. “I think it's massive, especially with Kappy missing…

South Africa’s economy is expected to ramp up significantly in the final quarter of the year after November saw a surge to become the “best sales month of the year” for new vehicle sales. According to statistics from the Automotive Business Council (Naamsa), aggregate domestic new vehicle sales in November rose by 8.1% to 48 585 units, reflecting an increase of 3 658 units, from the 44 927 vehicles sold in November 2023. The strong performance, which saw volumes for the month replacing October as the best sales month of the year, was driven by fleet deals from the rental companies, driving passenger car sales up 20% to 35 101 units, as consumer demand softened year-on-year. Not only was November the year’s best sales month, but also the largest market…

The rand started the week on the back foot yesterday, trading 0.5% lower to R18.18 against the US dollar, its weakest in two weeks, weakened by uncertainty brought about by threats of severe tariffs on the BRICS bloc of countries. US President-elect Donald Trump posted on social media platforms over the weekend that he would impose 100% tariffs on imports from BRICS member states if these countries pursued establishing their own currency, which would undermine the US dollar as a reserve currency. Analysts and economists have been very sceptical about the possibility of BRICS nations establishing a common currency due to the variance in the monetary policies of these countries. They also pointed out that the dominance of the US dollar will not be threatened any time soon as the…

Nampak’s earnings before interest, tax, depreciation and amortisation (Ebitda) increased to R1.5 billion for the year ended September 30, which is an increase of R1.1bn from R343 million a year before, after benefiting from the turnaround plan. The profit from continuing operations for the year came to R626m, up from a loss of R2.22bn the previous year. “The success of the turnaround strategy to date is evidenced by the strong financial recovery, including effective revenue growth management, cost and inefficiency extraction, profitability and positive cash flow,” its directors said yesterday. Opportune Investments chief investment officer, Chris Logan, said the market appeared happy with the operating results, the executive team, and the turnaround process so far. “But they want the Nigeria deal to be finalised and the funds to be seen…

Irish singing sensation Darren Kiely is set to perform in South Africa for the first time next year. The Ocean hitmaker is bringing his The Never Been Here Before Tour to Johannesburg and Cape Town. He will perform at The Troyeville in the City of Gold on April 17. Kiely will then travel to the Brass Bell in Kalk Bay on April 20. Supporting acts for both shows are expected to be announced soon. The musician is also set to take to the stage at the Splashy Fen Festival in Underberg, KwaZulu-Natal. Dubbed South Africa’s friendliest music festival, the music extravaganza will take place during the Easter weekend from April 17 to 21. On Friday, the organisers announced that Kiely will be joined by GoodLuck and the Ard Matthews trio,…

Scores of Expanded Public Works Programme (EPWP) participants in Gauteng are expressing their frustration after going unpaid for three months. A female worker, who wished to remain anonymous, shared her distress with The Star, stating: “For the past three months (September, October, and November), we have not been paid. Now it is November, and there is no transparency regarding this. Some of us have heard that an official has used the money. This is affecting all of us who are under the Panyaza project.” The situation escalated when it was reported that a female EPWP participant was allegedly assaulted by her partner after he accused her of lying about the non-payment. A colleague confirmed: “Yes, I can confirm that a woman from Pretoria was badly assaulted by her partner for…

With South African children increasingly tethered to the digital world, unsupervised access to smartphones and tablets presents a growing array of risks that demand urgent attention. Experts emphasise the importance of delaying smartphone access and strategies for fostering safer digital habits in families. Anna Collard, senior vice president of Content Strategy and evangelist at KnowBe4 Africa, alongside Kate Farina, founder of BeInTouch, stresses that delaying the smartphone means delaying the risks. A recent BeInTouch survey reveals 62% of learners in Grades 4 to 11 own a phone or tablet by age 10, and 83% have a social media account by age 12. Alarmingly, 65% are active at night, and 77% lack parental controls or filters. It is also reported that 67% of respondents reported instances of cyberbullying or interactions…

After the in-form Orlando Pirates suffered a shock loss to Stellenbosch on Sunday, their coach, José Riveiro, remarked that 60 points at the end of the season was not enough to lift the inaugural Betway Premiership trophy. In the past four Premiership seasons, the mighty Mamelodi Sundowns were unstoppable, and their final points tallies were 73 points, 70, 65, and 67. These point hauls by Sundowns were all runaway winning margins, ranging between 23 and 13 points. What has become clear is that the form and results of the Premiership this season suggest the championship will be keenly contested. Perennial favourites Sundowns, who have won every Premiership title since the 2017/18 season, have not had things their way this season. Presently, their form does not suggest they will be anything…

Max Verstappen added gloss to his status and reputation but left a trail of argument, chaos, and tension behind him in the wake of his commanding triumph at the Lusail International Circuit. As the Formula One circus decamps 600km for this week's season-ending Abu Dhabi Grand Prix, after an exhausting run-in to an unprecedented 24-race season, it was clear that Verstappen's fall-out with George Russell was just one of many issues that surfaced. Here, we look at three things we learned from Sunday's Qatar GP. Verstappen motivated by sense of injustice The newly-crowned, four-time world champion is a supreme competitor who needs no provocation but revealed in his driving and post-race revelations that when riled by a sense of injustice, he is a formidable force. His ninth win of the…

The United Rugby Championship (URC) resumed at the weekend and the Bulls were the pick of the SA Challenge when they subdued Connacht in Galway, a venue the SA teams have found relentlessly inhospitable. But the Bulls were comfortable 28-14 winners as they consolidated their position of third on the table with a game in hand on leaders Leinster and second-placed Glasgow. The Lions were also in action in Ireland and they will be disappointed that they could not put away a Munster team that has lost its way. Munster won 17-10 and the Lions at least salvaged a bonus point but this was a missed opportunity. There was an almighty scrap in Durban where the Sharks were outplayed by the forwards of the Stormers yet somehow scraped over the…