Innholdsfortegnelse for 2024-12-04 i Star

South African real estate investment trusts (REITs) are on a strong growth trajectory heading into 2025 due to rising demand and increased market activity, alongside declining interest rates. The favourable prospects have also been acknowledged by investors on the JSE, as REIT prices made a strong recovery in October and have outpaced other asset classes, delivering a 34% return year-to-date. By comparison, the broader equity market has returned 15.9%, while South African bonds have gained 16.7%. SA REIT Association chairperson and Growthpoint Properties South Africa CEO Estienne de Klerk said key factors contributing to this included the formation of the Government of National Unity (GNU) and a stable power supply, both of which had positively impacted the sector and had driven improvements in property fundamentals. “In 2024, we saw notable…

International Container Terminal Services (ICTSI) will today appeal the Durban High Court interdict that prevents Transnet from implementing the public-private partnership agreement with ICTSI, to run Durban Container Terminal Pier 2. In July 2023, Transnet awarded ICTSI, a global Top-10 firm that runs 32 port terminals in 19 countries, the contract to run the container terminal, in a competitive bidding process. Global shipping and freight group Maersk, through subsidiary APM Terminals, is one of the failed bidders and approached the courts this year to overturn the contract. While the interdict against the partnership was granted against Transnet, and not ICTSI, the global firm has asked for leave to appeal as findings by the court were damaging to its reputation and had no basis in fact, ICTSI contended yesterday. In October,…

The maize prices continued to surge, with white maize trading at just over R6 300 per ton while yellow maize traded at over R5 000 per ton. Last month, the Pretoria office of the US Department of Agriculture (USDA) published a report on South Africa's maize market highlighting the difficulty caused by the recent mid-summer drought, which led to a 23% decline in maize production to 12.72 million ton South Africa was not alone in this experience; Zimbabwe lost roughly 60% of its maize harvest, while Zambia lost half of its crop. Malawi, Mozambique, and others also experienced significant crop losses. This means the Southern Africa region will require maize imports to meet its annual needs. The USDA report said South Africa could import approximately 800 000 metric tons of…

The draft IRP23 was once again in the spotlight last week as the government engaged in a consultative process with stakeholders who submitted their comments on the document. However, the focus has shifted from relying on the IRP as a tool to govern and transform South Africa's power, energy and electricity sector. Instead, attention has turned to key inputs submitted during the process, many of which question the relevance of the draft IRP23 in its current form. The document appears heavily skewed towards renewable energy, raising concerns about its potential cost implications. Yet, the process of adopting the IRP seems to persist in its stillborn state. We are all waiting with bated breath for the final outcome of the IRP23 document. What will the Electricity Minister decide after all the…

FinTech group Capital Appreciation’s two divisions attracted new clients, renewed long-term contracts, diversified revenue sources, and grew market share in the six months to September 30, its directors said yesterday. Earnings per share and headline earnings per share declined by 8.3% to 5.94 and 5.96 cents per share, respectively. The interim dividend increased by 5.9% to 4.50 cents a share. Director’s are optimistic about second-half prospects. Alan Salomon, a founder of the company and chief financial officer who retires at the end of this month, said in an interview yesterday that second-quarter trading, following the national election, had markedly improved. This came after the first quarter was affected by low business confidence, with businesses postponing major capital expenditures. “We had a small decline in earnings, but you have to look…

The National Economic Development and Labour Council (Nedlac) said the agreement reached by Minister of Basic Education and the Solidarity union on the Basic Education Laws Amendment Act (BELA) is only binding on those parties who were part of the settlement. IOL reported on Monday that President Cyril Ramaphosa has noted the settlement agreement between the minister and Solidarity regarding the the law, which has been a major bone of contention. While the Act was passed by Parliament in October 26, 2023, and assented to in September, the implementation of sections 4 and 5 have been delayed by three months to allow for multi-party discussions and proposals on resolving the disputes. Lisa Seftel, Nedlac executive director, yesterday said the agreement reached by Solidarity and the department is binding, but only…

THE City of Tshwane is set to attract private investors to transform two iconic stadiums, Odi in Mabopane and HM Pitje in Mamelodi, into multipurpose facilities. This follows a year-long public participation process that sought to gather public views on the proposed project. The redevelopment plan aims to create multi-use sporting precincts, incorporating retail and office parks, making the stadiums financially viable. A proposed 80-year lease, comprising an initial 50-year lease and a 30-year renewal option, is on the table. Mayor Nasiphi Moya assured communities that they will have access to the facilities once the redevelopment is complete. She said that partnering with private companies does not mean the City is privatising the facilities. Private partners are expected to start work within three years after a process to bring them…

Can the South African teams mount a concerted challenge to claim the Champions Cup this season? Well, the Sharks are certainly loaded enough to do so, but in terms of cohesion, the Bulls are arguably the best-placed local franchise to do so – having won five out of six United Rugby Championship games already. But Jake White’s team will be properly tested by English giants Saracens at the StoneX Stadium in London on Saturday (7.30pm kick-off), where 15 000 spectators will be crammed in to roar on Maro Itoje’s team to victory. Apart from the technical battles that the visitors need to get right, they will have to handle the intense atmosphere that only top-level European rugby can conjure up – having gone down 59-22 to the Northampton Saints in…

The Lions are boxing clever as they turn their attention to Europe’s Challenge Cup and have sent 12 players home to prepare for their second-round match against Pau while the rest of the squad will play the Ospreys on Sunday. The Lions have had to think carefully about their broader strategy after narrowly losing to Munster at the weekend in the United Rugby Championship as they have two Challenge Cup matches before a URC derby against the Stormers on December 21 in Cape Town. On a more immediate note, they will have a new flyhalf against the Ospreys in Swansea on Sunday. Flyhalf Kade Wolhuter, who was replaced early in the second half of the 10-17 loss to Munster in Limerick last weekend, has returned home because of a concussion.…

Agriculture wobbles, country risks missing IMF’s latest projection of 1.1% for the full year A shock 0.3% contraction in South Africa’s gross domestic product (GDP) for the third quarter of the year has stymied economists, who had expected marginal growth. This puts at risk the possibility of the country meeting the International Monetary Fund’s latest projection of 1.1% for the full year. The sharp GDP slump, mostly driven by a decline in the agricultural sector, didn’t unsettle the rand, which was trading at R18.12 to the dollar at 6pm. GDP grew 0.6% last year, based on Statistics South Africa figures released in March. Wichard Cilliers, the head of market risk at TreasuryONE, said the unexpected contraction marked a reversal from the revised 0.3% growth in the previous quarter, surprising economists…

During the shopping event of the year, the leisure and entertainment industry grew its share of online sales over the four-day Black Friday weekend by 113% from last year. This was according to Peach Payments who tracked the spend of transactions in the country during Black Friday. The company said there was growth in rand value of 38% overall processed via the payment service provider’s platform in the month of November compared to November 2023, and a 37% increase over just the Black Friday/Cyber Monday weekend compared to 2023. Rahul Jain, the CEO and co-founder, said, “This is in line with the trend over the last few years of the whole of November being treated as Black Friday Month, with deals offered by merchants across the board. Despite the economic…

The experience of extreme weather events in South Africa has demonstrated that we are not adequately prepared to respond to the increasing number of climate-related disasters. As a direct response to and in recognition of the increasing vulnerability to climate risks, President Cyril Ramaphosa, in the February 2024 State of the Nation Address announced the establishment of Climate Change Response Fund. South Africa has identified the need for the deliberate allocation of finance to strategic climate adaptation and mitigation interventions to limit exposure to climate impacts and improve the country’s overall resilience. The establishment of the Fund complements the Just Transition Funding Mechanism (JTFM), the Just Energy Transition Investment Plan (JET-IP), and together with the Loss and Damage mechanism and new Disaster Risk Financing arrangements form part of the evolving…

Against the backdrop of a second Trump presidency, political turbulence in Europe, and the ever-fluctuating Rand, one issue currently dominating conversations within the hedge fund space is the release of the long-awaited discussion document on the tax treatment of collective investment schemes (CIS). Hedge funds may constitute a small segment of the broader CIS industry in terms of size, but their contribution to the financial sector underscores their importance within the broader financial ecosystem. Despite this, hedge funds still remain widely misunderstood and under-represented in investor portfolios, largely due to misconceptions about their operations and the perceived risks they entail. In reality, hedge funds offer investors access to risk-efficient investing through unique strategies and tools that are otherwise inaccessible to the average investor. They provide valuable diversification of investment options…

In a stark reminder of the shifting tides in the global commodities market, Exxaro Resources said average coal and iron ore prices have declined, while there had been a drop in production volumes as of October 31, 2024. This revelation came in a pre-close investor update for the financial year ending December 2024, casting a shadow over the previously robust performance of this South African mining major. The company, 14.9% owned by the Industrial Development Corporation, said the benchmark API4 Richards Bay Coal Terminal (RBCT) export price for the 2024 financial year is projected to average $105 (R1 907) a ton, reflecting a 12.5% decline from the 2023 financial year average of $120. Similarly, the iron ore fines price is also expected to take a hit, with projections indicating…

Australia has taken a bold step to protect young minds with new legislation that bans children under 16 from accessing social media platforms like Instagram and TikTok. This move, supported by the Australian government and the Coalition, aims to combat the mental health challenges, bullying and exposure to harmful content that often accompanies early use of these platforms. Prime Minister Anthony Albanese addressed the significance of the new law during a recent interview on Insiders. “I’ve met parents who’ve had to bury their children as a result of the impact that social media has had, as a result of bullying, and we need to do something about it,” he said, emphasising the urgency of the matter. He also called the legislation “world-leading”, adding: “I assure you, the whole world is…

In a bold stand against rising electricity costs, the National Union of Metalworkers of South Africa (Numsa), ActionSA, the South African Communist Party (SACP), and concerned residents of Soweto have rallied their voices against Eskom’s alarming proposal of significant tariff increases. During a public hearing at Uncle Tom’s Hall in Orlando West, Soweto, yesterday, representatives from these groups delivered compelling arguments to the National Energy Regulator of South Africa (NERSA), expressing deep concerns about the potential fallout on South African businesses and communities. The public hearing was the first of several taking place in Soweto before the series shifts to KwaZulu-Natal and other provinces. These hearings are centred on Eskom’s Sixth Multi-Year Price Determination (MYPD 6) revenue application, which outlines substantial increases for the financial years 2025/26, 2026/27, and 2027/28.…

In a bid to quell rising tensions within the African National Congress (ANC), Secretary-General Fikile Mbalula has emphasised that the recent meeting between the ANC National Working Committee (NWC) and the KwaZulu-Natal Provincial Executive Committee (KZN PEC) was not aimed at disbanding the provincial structure. Instead, the focus was on understanding the underlying factors contributing to the ANC’s dismal electoral performance, which saw the party secure just 17% of the vote in the May general elections. Addressing concerns from the KZN ANC members, Mbalula urged them to refrain from making public remarks about the future of the provincial leadership. The meeting, held at the Birchwood Hotel on Monday, sparked speculation regarding possible disbandment discussions for KZN and Gauteng PEC structures, which Mbalula swiftly dismissed. “This meeting was not called…

THE fraud-accused siblings facing fraud and money laundering charges following the murder of actor David “Gums” Manuel have been released on bail as the court found the State didn’t present enough evidence to keep them behind bars. Magistrate Keith le Keur said this as he granted R800 bail to Wanda Mbele and sister, Sindiswa, in the Athlone Magistrate’s Court, Cape Town. The pair was arrested on November 12, and initially linked to the murder of the Noem My Skollie actor and his best friend, Alfonso Fisher, on October 8. However, the State only charged them with fraud and money laundering, as they both took out a funeral policy for Manuel, before altering it a week before his death. During their bail application, the State said the siblings received a R110…

DISCOVERY Bank’s SpendTrend 2024 research found that e-commerce sites were more popular than in-store retailers on Black Friday. The report looked at the spending behaviour of its clients during one of the busiest days for retailers and found that most of its customers were not interested in dealing with the huge lines and the pandemonium that ensues on Black Friday. It further showed that Discovery Bank customers used Takealot as its most preferred e-commerce store during Black Friday. The SpendTrend data noted the average online card transaction value during Black Friday this year was R935. South Africans only spent on average R513 on purchases in-store, according to the data. The largest single transaction was R400 200 by a Discovery Bank customer. The research indicated that South Africans between the age…

In a revealing session during the 16 Days of Activism against Gender-Based Violence Campaign, Captain Johan van Dyk of the South African Police Service (SAPS) in Tshwane shed light on the often-overlooked issue of men as victims of gender-based violence. The webinar, organised by the Motor Industry Staff Association (MISA), brought attention to the stigma surrounding male victimhood, highlighting the urgent need for societal change in perceptions of gender-based violence. “It is crucial for men to understand that they, too, can be victims,” Captain van Dyk stated, noting that many men fear coming forward to report abuse due to societal stigma. “Shockingly, he noted that in many instances, men must endure significant violence before seeking medical help or reporting the abuse. “The injuries often encountered by men are so severe…

Ingredients ½ a box chocolate cake premix ½ cup Amarula ¼ cup simple sugar syrup (equal parts sugar and water, dissolved over medium heat) 1 can caramel dairy dessert 1 packet Chocolate chip cookies, crushed 1x 150g dark chocolate, chopped ⅓ cup cream 1 packet (5s) mini chocolate lamington Swiss rolls, sliced into quarters + extra for decorating Chocolate Swiss meringue buttercream: 3 egg whites 1 cup castor sugar 1 cup butter, cubed ¼–⅓ cup cocoa powder, sifted For decorating: 1 packet (9s) Crafted Collection Sparkling Caramels 1 packet (16s) Crafted Collection indulgent milk, dark and white chocolate balls Edible gold or bronze dust, optional Method Bake chocolate cake according to package instructions. Leave to cool completely. Crumble cake and press into the base of a 5L trifle bowl.…

President Cyril Ramaphosa launched South Africa's G20 presidency in Cape Town yesterday with the theme of solidarity, equality and sustainability and with a roadmap that focuses on climate resilience, debt sustainability, and inclusive growth." Ramaphosa vowed to bring development priorities of Africa and the Global South more firmly onto the agenda of the G20. He said, “South Africa’s Presidency will be the first time an African country has presided over the G20. We will use this moment to bring the development priorities of the African Continent and the Global South more firmly onto the agenda of the G20.” On solidarity, he said, “We can create an inclusive future that advances the interests of people at the greatest risk of being left behind. This is important in an interconnected world,…

The World Bank’s latest International Debt Report showed that developing countries spent a record $1.4 trillion (R25trl) to service their foreign debt as their interest costs climbed to a 20-year high in 2023. Higher interest rates meant that servicing that debt surged by nearly a third to $406 billion, squeezing the budgets of many countries in critical areas such as health, education, and the environment. In South Africa, the Medium-Term Budget Policy Statement (MTBPS) tabled on October 30 showed that debt service will consume a fifth of revenue this fiscal year. Over the past 15 years, public debt has accumulated, driven by a wide gap between spending and revenue. This led to increasing debt service costs consuming resources that could have been used for priorities such as education, healthcare and…

The global solar energy sector continues to dominate the renewable energy landscape, with 2023 marking another record year, according to the Global Market Outlook for Solar 2024-p2028. According to the report, the world added 447GW of new solar capacity, accounting for 78% of the 576GW of renewable capacity installed globally. This is a notable increase from 66% in 2022 and 56% in 2021, reflecting a growing reliance on solar energy to meet escalating electricity demands. The International Energy Agency predicts significant growth in global electricity demand in 2024 and 2025, with solar photovoltaic (PV) expected to meet half of this increase. “This is a positive prediction for the future for members of our industry here at home as well,” said Dr Rethabile Melamu, the CEO of the Solar PV Industry…

In a challenging economic climate, South African companies are stepping up to make a difference, collectively contributing R12.7 billion to social initiatives in 2024. According to the latest findings from corporate responsibility advisory firm Trialogue, Vodacom has emerged as the leader in corporate social impact for the eighth consecutive year. The telecommunications giant was ranked first by corporate peers for its developmental impact, with Anglo American, Nedbank, FirstRand, MTN, Sasol, Shoprite, Woolworths, Standard Bank, and Old Mutual rounding out the top ten. Trialogue’s 2024 Business in Society Handbook, released on Tuesday shows that corporate social investment (CSI) spending has grown at its fastest pace since the Covid-19 pandemic, increasing by 7.5% in nominal terms from R11.8 billion in 2023 to R12.7bn on in 2024. The report said this real growth…

At the moment, pantomimes are ruling the theatre roost with Janice Honeyman’s Beauty and the Beast running at Joburg Theatre and Disney’s Aladdin Jr. at People’s Theatre. Meanwhile, another production is having its full circle moment. At the start of this year, I had a tête-à-tête with Garth Field, who was helming The Michael Jackson HIStor show at Joburg Theatre. Several months later, the show is back from successful international runs in New Zealand, Australia and Canada to tour Mzansi. Born in Elsie’s River, Cape Town, he said: “I’m a professional dancer, singer, actor and choreographer. I’ve been performing since the tender age of 5. I’ve been doing shows in Florence as well. “I love Michael Jackson. I’ve been listening to him since I was a kid. I’ve been influenced…

The Gauteng Provincial Legislature’s Portfolio Committee on Community Safety applauded the police and other law enforcement for achieving a decline in crime in the province. Provincial police commissioner Lieutenant General Tommy Mthombeni presented the province’s crime statistics on Friday for the second quarter of 2024/25 financial year. Chairperson of the Committee Bandile Masuku said this marked the second consecutive quarter in the current financial year for the province, where crime statistics showed a decline in overall crime incidents. “This significant progress highlights the commitment of SAPS and its partners to ensuring the safety and security of all Gauteng residents,” said Masuku. The province saw a 7.6% decline in contact crimes, which include offences such as murder, attempted murder assault with intent to cause grievous bodily harm (GBH), and aggravated robbery.…

The City of Joburg is stepping up its efforts to engage with residents by taking its revenue services directly to the heart of communities. Recently, the city’s revenue team visited over 28 shopping centres across Joburg, offering much-needed assistance to thousands of customers with their municipal accounts. This initiative is integral to a broader outreach and educational campaign aimed at providing convenient solutions to municipal account challenges, all while residents shop for their daily needs. On November 30, the city showcased its commitment to customer service with a successful Open Day in Region F Revenue, extending operational hours to accommodate even more residents. During the event, more than 1 500 customers received support on a range of queries, from how to navigate municipal accounts to applying for pensioner rebates. It…

Blu Blood is excited to announce the debut of CoComelon LIVE: Sing-A-Long, a new live show from Round Room Live and Moonbug Entertainment. This never-before-seen performance will bring JJ, Cody, Nina, and the rest of the beloved characters to life, offering families of all ages an unforgettable experience filled with music, movement, and fun. CoComelon LIVE: Sing-A-Long will tour internationally with a special stop in South Africa this December. CoComelon LIVE: Sing-A-Long premiered at the CTICC in Cape Town from November 29 to December 1, will be held at the Theatre of Marcellus at Emperors Palace in Johannesburg from December 6 to 8, and will conclude at the Durban ICC from December 13 to 15. Tickets are available for purchase through Ticketpro or at your nearest SPAR Payzone kiosks.…

While many will be cruising on the seven seas for the festive season, director at First Loyalty, Samantha Pillay, highlighted people can instead strengthen their relationships instead of exchanging expensive gifts for the holidays. Pillay cited research by Cornell University that people derive satisfaction from experiential purchases – outings and activities – than materials ones. The study indicated that experiences strengthen relationships as people create memories that they will cherish for a very long time. “Similarly, the Journal of Happiness Studies found that family bonding through shared activities increases overall well-being and life satisfaction,” said Pillay. She suggested five ideas that families can utilise to share intimate moments, without stretching their budget. 1. Dads can create eternal memories with their children by spending quality time on outdoor adventures, such as…

The harrowing reality of life for poor, black South Africans paints a grim picture of a struggle that seems relentless, as systemic issues continue to unfold with little to no appetite for practical solutions. Rarely a day passes without reminders of the humiliation and shame that countless South Africans, mostly black, suffer under a government that appears to have lost sight of its duty to its citizens. The heart-wrenching statistics are alarming; reports confirm the deaths of at least 26 young children due to contaminated food from spaza shops, businesses often at the mercy of lax compliance with health regulations. The outrage this has generated is compounded by calls for better regulation in an environment where many feel the government is merely offering a symbolic gesture, failing to address the…

They say there’s no place like home, and that especially rung true for the Blitzboks yesterday as they arrived at their hotel ahead of the Cape Town Sevens tournament this weekend. It was a disappointing finish to the Dubai Sevens last weekend, where the South Africans lost 24-17 to New Zealand in the quarter-finals to end their remarkable run of five consecutive tournament wins in the UAE. They then went down 17-15 to France in the fifth-place play-off as well, so coach Philip Snyman and his team have a lot to play for at the Cape Town Stadium on Saturday and Sunday. But Leyds – the younger brother of Springbok utility back Dillyn – believes that the Blitzboks have the ability to turn things around this weekend in a tournament…