Innholdsfortegnelse for 2025-01-31 i Star

Eskom made a R17.83 billion profit in the six months to September 30, a very strong turnaround over the R55.02bn loss at the last year-end, due to better cash flows, higher tariffs and state debt relief, but liquidity remains a longer-term risk. Profit before finance costs nearly doubled to R40.7bn, from R21.87bn at the end of the interim period last year, the utility, which this week celebrated more than 300 days without having to implement loadshedding, said in its interim results. Further indication of a restoration of balance sheet health was the R33.01bn cash balance, double the R16.36bn held in cash at the same time last year, which the utility’s board said was mainly due to the debt relief support received, as well as the improvement in the cash…

The South African Reserve Bank (SARB) has adopted a circumspect stance regarding the potential for further interest rate cuts this year amidst a backdrop of uncertain global economic conditions. The SARB on Thursday cut its key interest rate by another 25 basis points to 7.50% per annum as anticipated, marking the third successive reduction since September 2024. SARB Governor Lesetja Kganyago said four members of the Monetary Policy Committee (MPC) preferred this action, while two supported an unchanged stance. The SARB's announcement follows after the US Federal Reserve (Fed) announced on Wednesday that its interest rate will be kept unchanged following a 25 basis points cut in December, the third consecutive interest rate cut for a cumulative 100 basis points last year. Riaan Grobler, head of advisory services at Everest…

Sandton is still a vibrant property node, Estienne de Klerk, the South African CEO of Growthpoint Properties, said this week. Growthpoint is a JSE-listed real estate investment trust. “There’s also an urban legend that Sandton has been written off as an office node, which I can promise you is not the case,” he said. De Klerk says what makes Sandton, which has the status as Africa’s leading financial district, more complex is that knowledge-based businesses occupy this node. This includes banks, lawyers, audit firms, asset managers, and financial advisers, among others, he explained. The office letting market is very competitive, with some corporates sub-letting their space in an effort to reduce costs. Compared to its investors, Growthpoint has the biggest office portfolio in Sandton at roughly 360 000 square metres,…

Could exchange traded funds be South Africa’s next big retirement trend? As people plan for retirement, exchange traded funds (ETFs) can be a smart choice. They are liquid, cost-effective, and an easy way to diversify your investment portfolio. ETFs can be a great addition to your long-term savings or retirement plans, working alongside your regular retirement fund. While traditional retirement products give you a steady income, standalone ETF investments can provide extra cash when you need it. What is an ETF? An ETF is a collection of securities that follows the performance of an underlying index, like the FTSE/JSE Top 40 Index, or an asset class such as property. After identifying your risk profile and selecting a suitable ETF or combination of ETFs to match your profile, you can make…

Glencore’s coal production from South Africa fell by 7% in 2024 due to constrained export rail capacity under Transnet, although the company on Thursday said it would ramp up output once capacity was restored. Logistics constraints in South Africa have been forcing some bulk commodity miners to lower down production as stock piles up at the mines due to inefficient export rail and port capacity. For Glencore, energy coal production from South Africa in 2024 was lower by 1.2 million tons compared to the previous year. “Production of 16.6 million tons was 1.2 million tons (7%) lower than 2023, mainly reflecting measures implemented in 2023-24 to reduce coal production due to export rail capacity constraints,” said Glencore on Thursday. It added: “Should additional rail capacity be restored, production rates could…

The Jonas Brothers are set to star in a new Christmas comedy film. Brothers Joe, Nick and Kevin Jonas are returning to their Disney roots as they are set to produce and star in a Christmas movie for Disney+, scheduled for the 2025 holiday season. According to Variety, the film has the working title Jonas Brothers Christmas Movie and as per the tagline, will see the pop stars “face a series of escalating obstacles as they struggle to make it from London to New York in time to spend Christmas with their families”. The Waffle House hitmakers announced the news in a joint Instagram post with Disney, sharing a comedic video of them re-enacting an iconic Love Actually scene and holding large cue cards announcing the project. “Too early for…

It’s dinner time and you find yourself at a crossroads, tormented by the endless dilemma of what to eat. The quick-fix might be scrolling through a food delivery app, wrestling with enticing images of burgers, pizzas and other fast-food temptations. But what if you already have a wholesome chicken defrosting in your fridge? This internal back-and-forth, often filled with anxiety and guilt, encapsulates a phenomenon known as “food noise”. As the meals we prepare or gravitate towards become sources of stress rather than nourishment, it raises the question: what is the impact of food noise and how can we silence it? Let’s delve into what food noise is, its impact on our lives and the strategies to silence it without resorting to weight-loss medications like Ozempic. What is food noise?…

President Cyril Ramaphosa and DA leader and Agriculture Minister John Steenhuisen met privately on Wednesday, with no officials from either side present. The meeting, which was described as “collegial” and “engaging,” was aimed at addressing recent tensions within the Government of National Unity (GNU) over the signing of the Expropriation Bill into law. The two leaders of the GNU arrangement are currently at the forefront of the second Cabinet Lekgotla, where the GNU cabinet is aiming to address pressing national issues at the Sefako Makgatho Presidential Guest House in Pretoria. According to Presidency spokesperson Vincent Magwenya, the meeting was a success, with both leaders finding common ground on key issues. “The meeting took place, and by the president’s account to me, which I am sure Minister Steenhuisen will share,…

THE Parliamentary Committee on Communications and Digital Technologies said on Thursday it will be prioritising the processing of the SABC Bill for recommendation to the National Assembly no later than June this year. The Bill was withdrawn from Parliament by Minister Solly Malatsi in November following extensive stakeholder consultation and the review of public submissions. Malatsi had stated that the proposed law did not address the sustainable funding model of the public broadcaster. Although he notified National Assembly Speaker Thoko Didiza of the withdrawal, the Bill has not been formally withdrawn via a notice in the parliamentary communiqué. Instead, Minister in the Presidency Khumbudzo Ntshavheni previously said the Bill is an executive one and he must make submission to Cabinet for the withdrawal. Deputy President Paul Mashatile, who is the…

PARLIAMENT is considering setting aside a date for a snap debate on the war in the Democratic Republic of Congo (DRC) following a request by two parties. National Assembly Speaker Thoko Didiza yesterday said two parties have requested a snap debate on the situation at DRC where 13 SANDF members were killed last week while on a peace-keeping mission in the DRC. “I have responded to them. I want to say at this meeting that we are considering that matter and also a possible date the debate must take place,” she said during the meeting of the programme committee. EFF MP Hlengiwe Mkhaliphi said she was happy as her party was one of those that made the request as the DRC was important and involved the lives of the soldiers.…

As Tumi Lebaka’s Thrive makes waves across the literary scene, women aspiring to ascend the corporate ladder now have an invaluable resource in their corner, shedding light on the path to leadership with resilience and confidence. Tumi Lebaka, the dynamic chief executive officer of the Gauteng Film Commission, is set to ignite change for women navigating the corporate landscape with her newly published book, Thrive. This empowering guide tackles the pressing challenges women face in the workplace, particularly focusing on gender-based violence (GBV) and bullying. Lebaka offers practical strategies aimed at fostering resilience and confidence in aspiring female leaders. With an impressive background as an international speaker and life coach, Lebaka combines her expertise with lived experiences to craft a narrative that resonates deeply. The book unfolds her personal…

Pretoria’s inner city is set to undergo a major revitalisation effort with the establishment of a new mayoral subcommittee in the City of Tshwane tasked with tackling the issue of dilapidated, hijacked, and abandoned buildings. Led by MMC for Corporate and Shared Services, Kholofelo Morodi, the subcommittee is expected to conduct a thorough investigation into the state of dilapidated buildings and subsequently compile a comprehensive database to be submitted to the mayoral committee. The initiative follows on the heels of the city’s recently launched “Reclaim Our City” campaign, which shed light on the numerous neglected structures blighting the urban landscape. Morodi stated: “This initiative responds to the urgent need to tackle the issue of deteriorating buildings in the Pretoria CBD and explore their potential for economic and housing solutions.” According…

Zohar Ndlazi, a South African teacher who found herself homeless on the streets of Thailand has received numerous offers of help from fellow citizens who have assisted with temporary shelter, food and even possibly a job. In a previous story published by IOL on Monday, Ndlazi detailed that she had gone to Thailand and arrived on June 23, 2023, to work as an English as a Second Language (ESL) teacher. However, after leaving her initial employer in June 2024, following promising job offers in China and from a recruiting agent in Thailand, which later vanished amid a lack of communication and changing circumstances, she ended up unemployed. She ended up homeless and living on the streets and relying on temples and churches for food. Ndlazi was in such dire…

Land Expropriation, a hot-button topic since the dawn of democracy, with the New Expropriation Bill just signed into law, the Bill replaces the outdated Expropriation Act of 1975, aligning expropriation laws with the Constitution. However, its allowance for expropriation without compensation in specific cases demands scrutiny of its potential impact. The apartheid-era Expropriation Act of 1975 clashed with the democratic principles enshrined in the 1996 Constitution. Its reliance on a willing-buyer, willing-seller model failed to deliver meaningful land reform. The new Expropriation Bill seeks to establish a uniform framework compliant with Section 25 of the Constitution, which governs property rights and land reform. The Bill permits expropriation in two cases: for public purposes, such as infrastructure projects, and in the public interest, to address historical inequalities. It introduces provisions for…

Kaizer Chiefs coach Nasreddine Nabi has vowed they’ll be at their absolute best in the Soweto Derby tomorrow afternoon, and won’t hide behind rebuilding the team. Chiefs will visit arch-rivals Orlando Pirates at the iconic FNB Stadium for the first Premiership Soweto Derby of the season (3.30pm kick-off). Sure, form counts for nothing in the derby, but such has been Chiefs’ inconsistent run this season that they’ll be regarded as the underdogs against the well-oiled Pirates. Nabi has admitted that they haven’t been at their best because they’ve been “rebuilding the team” more importantly instead of chasing for the results. That has drawn a negative reaction from some of their supporters, as they had initially regarded Nabi as the messiah who’d rejuvenate the side while winning games. Nabi is looking…

After ending fourth in the Perth SVNS tournament, the Blitzboks won’t have an easy task recovering next month in Vancouver after being drawn in the tournament’s so-called ‘Pool of Death’. The Springbok Sevens, after losing out to Spain in the third-place playoff Down Under, have been grouped with the All Black Sevens, Ireland and the USA for the third-last tournament of the regular season. Although head coach Philip Snyman was not entirely satisfied with how his side ended on the final day of play in Perth, they’ll take plenty of confidence from the first tournament of the year into the next one. His troops are currently fourth on the overall rankings of the SVNS Series, with three regular tournaments to go and the Championship decider in Los Angeles. The Blitzboks…

Both Arsenal and Manchester City will be confident going into Sunday’s blockbuster Premier League showdown at the Emirates following victories in the Champions League. Arsenal coach Mikel Arteta said his side could handle any opposition after progressing directly to the Champions League last 16 with a 2-1 win at Girona on Wednesday. A much-rotated Gunners side defeated the Catalan outfit, with goals from Jorginho and Ethan Nwaneri after falling behind to Arnaut Danjuma’s first-half strike. Arsenal, avoiding the play-off phase added this season, will play Juventus, AC Milan, Feyenoord or PSV Eindhoven in the last 16. “Winning in this competition is very demanding, but overall, the team has been very consistent, regardless of all the issues they have had to face,” Arteta told reporters after a fourth consecutive European victory.…

After they were out-muscled and out-matched in Kingston in front of a zealously supported and physical Jamaican team earlier this month, the Proteas believe they are ready for their next challenge. The Vitality Netball Nations Cup – between South Africa, England, Uganda and Malawi – will start on Saturday at the Motorpoint Arena in Nottingham. The second half of the tournament will be played at the Copper Box Arena in London next weekend. The Proteas have already landed in Nottingham and got their training under way ahead of their opening match on Saturday against Uganda (5pm SA time). SA will then face England on Sunday (6pm). Speaking to the media during a press conference on Thursday, assistant coach Zanele Mdodana reflected on the “tough” series in front of a “hostile”…

Projections from National Treasury reveal that SA’s government debt will exceed R6.05 trln The International Monetary Fund (IMF) is weighing proposals for South Africa’s government to adopt a "debt-ceiling" strategy akin to that of the US government, aiming to address the nation’s rapidly escalating and unsustainable debt burden. This suggestion unfolds as the IMF emphasises the need for the South African government to embrace more ambitious fiscal consolidation efforts in a bid to mitigate the country’s rising debt levels and fortify its fiscal buffers. Projections from the National Treasury reveal that South Africa's government debt, currently standing at R5.2 trillion, is expected to exceed R6.05 trln, constituting 75.5% of gross domestic product (GDP) by the 2025/26 financial year. Alarmingly, debt-service costs are fast becoming the predominant component of government expenditure,…

Parliament’s Portfolio Committee on Communications and Digital Technologies has proposed the removal of business rescue practitioners (BRPs) of the South African Post Office (SAPO), Anoosh Rooplal and Juanito Damons, in a decisive move reflecting growing frustration over its precarious state. The committee’s dissatisfaction stems from the duo’s failure to formulate a viable plan to restore the entity’s liquidity and solvency, leading to a substantial burden on taxpayers, as highlighted by committee chairperson Khusela Diko during a media briefing on integrated portfolio clusters on Thursday. Diko said the committee had, after three meetings with the rescue practitioners, remained unconvinced by their ability to future-proof the State-Owned Entity and propose its sustainability. She said the committee had resolved to approach Minister of Communications and Digital Technologies, Solly Malatsi, in a bid…

As personal and financial circumstances evolve, a will—one of the most crucial documents you’ll ever sign—often goes overlooked. While it may have perfectly captured your wishes when first drafted, changing relationships, family dynamics, and objectives can make a review essential. Regularly revisiting your will ensures it remains aligned with your intentions. Here are seven compelling reasons to review this vital document to safeguard your estate and ensure it reflects your current wishes and circumstances accurately. Your circumstances Changes in personal circumstances, such as a change in marital status or additions to your family through the birth or adoption of a child or grandchild, often require a review of your will. Divorce, in particular, necessitates immediate action. Section 2B of the wills Act allows a three-month period post-divorce to update your…

The year started on a setback note for the energy transition: one of the world’s largest lithium-ion batteries, central to the storage of intermittent solar and wind power, was gutted by fire. Located in the Monterey County coast in California, the 750 megawatts storage facility was still new, with the construction of the latest phase having been completed in 2023. On the face of it the blaze that has potentially turned green dreams into smoke ignited internally. However, investigators are yet to establish the cause. The tragedy at what was supposed to be the lodestar of the energy transition has puzzled owner Vistra Energy and US authorities. But, as Politico, a US-based news site reported, the accident was not unprecedented. The battery complex had suffered damage from a malfunctioning heat…

South African households would have gained R200 billion more to spend since 2022 of the SA Reserve Bank had adopted a less restrictive monetary stance which would have kept the household debt cost and disposable income ratio stable, economist Dr Roelof Botha said Thursday. To provide an indication of what a big impact this would have been, consider that the Two Pot Pension payouts towards the end of last year injected R50 billion of additional spending on the economy, and economic data already shows that this lifted retail spending. Interviewed at the release of the Altron FinTech Household Resilience Index (AFHRI) on Thursday, he said: “The extent of the loss of purchasing power among households is alarming. It is obvious the restrictive monetary policy stance of the Reserve Bank’s Monetary…

Disney+ has officially confirmed the highly anticipated release of its original series Good American Family, starring renowned actors Imogen Faith Reid, Ellen Pompeo and Mark Duplass. The series, which is based on a true story, is set to premiere on March 19, with two episodes launching simultaneously, followed by one episode a week thereafter. Created and executive produced by Katie Robbins, with Sarah Sutherland serving as executive producer, the series promises to captivate audiences with its compelling narrative that explores themes of perspective, bias and trauma through the eyes of a Midwestern family, who adopt Natalia, a seven-year-old Ukrainian girl with a rare form of dwarfism. As they navigate the challenges of integrating their new daughter with their three biological children, suspicions arise concerning her true age and background. The…

THT uMkhonto weSizwe Party’s secretary-general, Floyd Shivambu said Duduzile Zuma- Sambudla’s arrest and charges were an act of intimidation aimed indirectly at her father, Jacob Zuma. Shivambu was speaking outside the Durban Magistrates Court yesterday, where Zuma-Sambudla appeared on charges of incitement to commit terrorism and two counts of incitement to commit public violence in relation to the July 2021 riots. The State is basing its charges on social media posts – one of which reads: “We see you”. Shivambu claimed the case against Zuma-Sambudla was not going to go anywhere. “There is no way you can prosecute a person with only ‘We see you’. Fifteen prosecutors, people with legal qualifications, are going to be investigating a sentence that says ‘We see you’,” he said. “They are trying to oppress…

ACTING Johannesburg Metro Police Department (JMPD) chief Patrick Jaca has been permanently appointed to the position five years after it became vacant. At a sitting yesterday, the City’s Council unanimously approved Jaca’s appointment despite reservations by the DA. Jaca, who turns 62 in November, beat 74 other applicants to the position. His appointment comes almost five years without a JMPD head since the resignation of David Tembe in March 2020. Tembe left the position and later became an ActionSA councillor in the city and member of the mayoral committee (MMC) for public safety. DA councillor Solomon Maila told the sitting that the party supported Jaca’s appointment with reservations. ”The process that led to this proposed appointment of the chief of police for the JMPD is problematic on multiple fronts,” he…

Opposition political parties including the GOOD Party, the DA, and civil society movements have objected to the 12.74% tariff increase, announced by the National Energy Regulator of South Africa (NERSA). The increase, approved during a media briefing yesterday, is set to be a significant blow to consumers already grappling with economic hardships. The GOOD Party has been particularly vocal in its condemnation, stating that the increase comes at a time when South Africans are already burdened by some of the highest electricity prices in the world, relative to income. “It is GOOD’s view that end users are the ones who are paying for Eskom’s years of mismanagement,” the party declared. “This 12.74% increase for the financial year 2025/26, along with subsequent hikes of 5.36% for 2026/27 and 6.19% for 2027/28,…

The presiding officers of Parliament have paid tribute to the brave 13 members of the SANDF who lost their lives while on a peacekeeping mission in the eastern Democratic Republic of Congo (DRC). “The loss of these courageous soldiers is both distressing and deeply painful, as they dedicated themselves to the noble cause of upholding peace and stability in the Southern African Development Community (SADC) region and beyond. “These gallant men and women selflessly served in the pursuit of peace, and their sacrifice will forever be honoured and remembered,” said National Assembly Speaker Thoko Didiza and National Council of provinces chairperson Refilwe Mtshweni-Tsipane. Didiza and Mtshweni-Tsipane also commended President Cyril Ramaphosa for his leadership in initiating dialogue with his Rwandan and DRC counterparts, President Paul Kagame and President Félix Tshisekedi,…

For Zanele Nkabinde, one of the 98 newly minted firefighters who completed a rigorous year-long training programme with the City of Tshwane Emergency Services Department, saving lives is more than just a job - it is a profound calling that resonates deeply with her. She said she was proud to be a recipient of a certificate recently during a passing-out parade at Lucas van den Berg Sport Field in Pretoria West, where City of Tshwane Mayor Nasiphi Moya addressed them. Moya told graduates that “firefighting is not a profession but a calling”. “Firefighters play a critical role in our society, although many people may not fully understand the breadth of your responsibilities. As firefighters, you are often the first line of defence in times of crisis,” she said Having spent…

A man who was wrongly sentenced and convicted to three years’ imprisonment for a traffic violation has been acquitted by the Western Cape High Court after the “gross irregularity” was rectified. Ashlon Jacobs pleaded guilty to a traffic contravention where he was charged for intentionally and unlawfully operating a vehicle without the consent of the owner or the person in lawful possession of the car. This was after he was arrested near Bali Trading, close to the N2, in the district of Riversdale. In his plea, Jacobs never admitted to “driving” or “riding” in the vehicle. Instead, he admitted that he alone pushed the car to the airfield. The appellant had, therefore, not admitted facts sufficient to sustain the elements of either “driving” or “riding” in the car. The accused…

A e-hailing driver in Eldorado Park, Johannesburg, allegedly found himself in a life-or-death situation on Wednesday night when he was targeted by a group of teenagers in an attempted hijacking. The harrowing encounter ended with one teenager being shot dead and another critically injured, with the matter being investigated by Gauteng police. The third teen is said to have fled the scene along with the driver, who is yet to avail himself to the police. According to Gauteng police spokesperson Dimakatso Nevhuhulwi, the driver was approached by three teenagers aged between 16 and 19, who requested a ride. Upon entering the vehicle, the teenagers attempted to rob the driver at gunpoint. In an alleged moment of self-defence, the driver quickly produced his own firearm and fired shots, hitting two of…

Bafana Bafana coach Hugo Broos has urged Relebohile Mofokeng to make the “right decisions” amid the rumoured interest for his services from European clubs. Mofokeng has been on an upward trajectory since making his senior debut for Pirates two-and-a-half seasons ago under coach Jose Riveiro. His growth in leaps and bounds saw him break into the national team last year as he made his debut in the World Cup qualifiers against Zimbabwe on home soil. Since that clash – in which Bafana won 3-1 – Mofokeng has become a national treasure, cherished even by the supporters of Pirates’ arch-rivals. Mofokeng hasn’t allowed the hype to get into his head, though. He has remained grounded, continuing to chip in with impressive performances for club and country. And his exploits haven’t gone…

Midfielder Wandile Duba, who has emerged as a key player in Kaizer Chiefs’ rebuilding process, has been laid low by injury. His absence comes as a major blow for Chiefs, who would have featured him as their lethal weapon in tomorrow’s Soweto Derby against Orlando Pirates at the FNB Stadium (3.30pm kick-off). Chiefs’ Tunisian coach Nasreddine Nabi made a gallant effort to play his cards close to his chest yesterday, but confirmed Duba’s absence After that, he declared he was not saying anything further about player availability for Saturday’s match, which was sold out two weeks ago already, with 90 000 spectators expected. “About Duba, he will definitely be out,” Nabi told the media at yesterday’s Soweto Derby press conference at the Soweto Theatre. “According to our medical team, he…

MI Cape Town may have qualified for the SA20 playoffs for the first time after their 10-wicket thrashing of defending champions Sunrisers Eastern Cape at Newlands, but they have no intention of letting up now. All-rounder Corbin Bosch claims the team have firmly set their sights on finishing top of the table and hauling in neighbours Paarl Royals, who are currently ahead by just a single point. The two Western Cape sides will face off in next Tuesday’s Qualifier 1 at St George’s Park in Gqeberha, with the winner automatically progressing to the grand final. There were some whispers that coach Robin Peterson may run with some fringe players – such as rookie seamer Tristan Luus, with qualification assured – but Bosch believes taking momentum into the playoffs remains as…

I won’t lie: I enjoyed watching Jannik Sinner beat Alexander Zverev last Sunday in the Australian Open men’s final. Bear with me while I dip into a bit of Trekkie culture, but he reminds me of the USS Defiant, which first appeared in Star Trek Deep Space Nine – the best Trek by far, and you can take that absolute truth to the bank. It is a hill I will die on. But I digress, for you see the Defiant was overpowered and over-gunned for a ship of its size, so much so that it nearly shook itself apart when the engines were tested at full power. Sinner is also fully stocked, his arsenal barely contained in his racquet. He has a short game, too, and a subtle touch of…

FOLLOWING the Pretoria Capitals’ six-wicket victory at home over Joburg Super Kings this week – one in which they made five changes to their playing XI – they head into today’s must-win encounter against MI Cape Town (5.30pm start) with positive momentum on their side. One of the newer editions to the playing XI, debutant and fast bowler Gideon Peters, had a dream start to his SA20 career. The 25-year-old was picked up by the Capitals for his raw pace, and boy did the youngster put his talents on display at SuperSport Park in his debut, claiming sparkling figures of 2/15, helping the Capitals bowl out the Super Kings for 99 runs. “I can’t say the words that were going through my mind... I just couldn’t go back to bed…

Fintech group Lesaka Technologies' deal to acquire 100% of the issued and outstanding ordinary shares of Recharger for R507 million has got the green light from the Competition Commission, but with conditions.“The Commission has approved the proposed transaction whereby Lesaka SA intends to acquire Recharger, with conditions,” it said in a statement on Thursday. Lesaka, formerly called Net1 UPS, is listed on the JSE as well as the Nasdaq. The Lesaka Group is active in financial technology and uses its proprietary banking and payment technologies to deliver financial services solutions and software to merchants in Southern Africa. Recharger is a South African prepaid electricity submetering and payments business with a base of over 460000 registered prepaid electricity meters. Recharger enables landlords to collect payment for utilities usage from tenants in…

The Beefmaster Group has expressed cautious optimism for the future of South Africa’s beef industry despite challenges faced in 2024. Gert Blignaut, CEO of Beefmaster Group, on Thursday said that last year was tough for the business and the industry. “Slaughter prices continued to fall, input prices such as feed prices continued to rise, and farmers' calf prices couldn’t get off the ground,” he said. “The consumer faced significant financial strain, resulting in low spending. Despite these challenges, production volumes showed remarkable resilience.” Blignaut said that it was likely that the industry reached the highest slaughter figures of the last six years, with about 2.8 million cattle going to slaughter in South Africa. However, he said this increased supply and lower demand due to constrained consumer spending put additional pressure…

In South Africa, about 20 million people, or half the working population, have active debt. Many may not realise that this debt will not disappear when they pass on but will be transferred to their next of kin. I always tell our clients who think their debt will be gone when they pass away, ‘If you love your next of kin, settle your debts for their sake or be proactive with your estate planning’. This means setting up a plan that clearly outlines who will receive or inherit your assets after you pass away and it ensures that your dependents are provided for when you are no longer around. If you don’t do this, the Executor or person administering your estate may be forced to sell assets in your estate…

Orion Minerals is now poised to progress with its South African copper projects after the Takeover Regulation Panel approved the company’s Black Economic Empowerment (BEE) Entrepreneur Share Acquisition Agreement. The Takeover Regulation Panel approved conditions for the New Okiep Exploration Company (NOE) and New Okiep Mining Company (NOM) Historically Disadvantaged South African (HDSA) transactions, rendering the deal fulfilled. According to Orion, the approval allows New Okiep Mining Company to move “into the project financing phase, following the completion and approval of the feasibility study” by partners to the project. These include the Industrial Development Corporation (IDC) and Landmark Capital. “This will allow us to easily move into the financing phase of the project once the DFS has been completed and approved,” said Errol Smart, CEO of Orion Minerals. “While both…

Internationally renowned rock group, Mike & The Mechanics are set to deliver an electrifying performance as they take to the stage in Gauteng on Saturday. The British group comprises Mike Rutherford, Andrew Roachford and Tim Howard. Their South African shows are part of their Looking Back - Living The Years 2025 tour. They already set the stage alight when they performed in Cape Town’s Grand Arena in GrandWest on Thursday. Fans can expect to hear them perform some of their most renowned hits live, such as Over My Shoulder, The Living Years and All I Need Is A Miracle. Mike & The Mechanics were originally formed in 1985 by Rutherford as a side project to the rock band, Genesis. The group originally featured Paul Young and Paul Carrack as frontmen,…

Kate Hudson is set to make a highly anticipated return to the screen in Mindy Kaling’s upcoming Netflix series, Running Point. Renowned for her role in the classic film Almost Famous, Hudson takes on a fresh challenge as Isla Gordon, the unconventional president of the Los Angeles Waves basketball team. This 10-episode basketball comedy, which also stars Max Greenfield, marks a significant moment in Hudson’s career, especially after her recent success in the music industry with her debut single, Talk About Love. Running Point, which will premiere on February 27, introduces viewers to Hudson’s character, who is the only sister in a family of brothers and who is highly ambitious yet frequently overlooked. However, the dynamics shift dramatically when her brother is compelled to resign from the presidency of the…

The property industry received a boost from the decision by the South African Reserve Bank (SARB) to cut the interest rate by 25 basis points during its Monetary Policy Committee (MPC) meeting on Thursday. This marks the third consecutive reduction in interest rates, bringing the total relief in the current cycle to a significant 75 basis points since September 2024. With the prime lending rate now at 11%, many in the sector expressed optimism about potential homebuyers and those maintaining existing mortgages. Dr Andrew Golding, CEO of the Pam Golding Property Group, heralded the MPC’s decision as “very encouraging news”, particularly in light of shifting expectations around future rate cuts. “The outlook for interest rates for the remainder of the year is far less clear. The timing of any further…

A prison sentence is the only appropriate punishment for a remorseless wife-beater who taunted his victim and then tried to convince the court that he was, in fact, the victim. This was the argument Advocate Gerrie Nel, head of AfriForum’s Private Prosecutions Unit, presented this week in the Johannesburg Magistrate’s Court in the case against Alexis Bizos, son of the late Struggle stalwart George Bizos. The court earlier convicted Bizos junior of assault with the intent to cause grievous bodily harm for the 2015 attack that left his then-wife, Monique van Oosterhout, with six broken ribs. In 2018, Nel announced that the unit would privately prosecute the case after the National Prosecuting Authority (NPA) declined to prosecute Bizos. The trial eventually started in January 2020. The conviction was described by…

MEMBERS of Parliament have raised concerns about alcohol that forms part of a donation made to Parliament when President Cyril Ramaphosa delivers his State of the Nation Address (Sona) next week. This emerged during the meeting of the National Assembly’s programme committee to consider the draft programme for the quarter. An unnamed company has made a donation of food and alcohol to the Office of the National Assembly Speaker Thoko Didiza, for the opening of Sona, which will be held in the Cape Town City Hall at 7pm. EFF MP Hlengiwe Mkhaliphi was the first to raise the matter when she noted that they were informed during the meeting of the chief whips forum on Wednesday. “We made it clear we don’t want that. MPs could feed themselves. It is…

Chaos erupted when the councillors of opposition parties tried to access the Cape Town Civic Centre on Thursday morning as the virtual meeting continued. The Economic Freedom Fighters (EFF) councillors arrived before 10am and had a brief meeting with their members before attending the much anticipated virtual meeting. EFF leaders Ntsikelelo Tyandela and Banzi Dambuza told the metro police they needed to be at the chambers. “You didn’t block JP Smith at these doors; we are council members and need to enter,” Dambuza shouted. Meanwhile, Tyandela had a screaming match with an officer who called him a boy. “I’m not a boy! Don’t ever call me a boy again. I’m a man and I represent people.” The councillors ended up gaining entry into the building. The GOOD Party secretary-general, Brett…

Miss SA 2024, Mia le Roux, the Miss SA organisation and the B4i Academy have partnered to give people who are living with disabilities an educational opportunity by awarding them learnership programmes. The learnership programmes will provide skills development, while prioritising quality and accessibility and ensuring that people with disabilities acquire skills that will be beneficial for them to be successful in today’s economy. “I am honoured to partner with the B4i Academy to make a difference in the lives of those who often face significant barriers. “This initiative is a step towards a more inclusive society where everyone, regardless of their abilities, has access to opportunities to allow them to succeed. “Our purpose is to change lives, to offer pathways to dignity, independence and economic participation for those who…

Jose Riveiro, Orlando Pirates’ Spanish coach, is a smooth operator, judging by how he glowingly spoke of Kaizer Chiefs, who have hardly been impressive this season. Speaking at yesterday’s Soweto Derby pre-match presser, Riveiro said not too much must be read into Chiefs’ fifth place on the latest Premiership standings. Although the Amakhosi have managed only six wins after 14 league outings, Riveiro cautioned that their Soweto neighbours will be a hard nut to crack in tomorrow’s showdown at the FNB Stadium (3.30pm kick-off). “I think Chiefs is playing well this season,” said Riveiro. “I don’t think that the (Premiership) log is a true reflection of Chiefs’ performances in the league so far – and I’m being honest. “They are creating a lot of chances in every game They are…

Sharks coach John Plumtree was like a kid on break-up day after his team had transformed humiliation in Bordeaux into a triumph in Cardiff. That was over a week ago, and among the first words he said after the 42-22 win was “I can’t wait to get some bodies back” – but it won’t be as simple as eliminating the 16-man injury list. It has been confirmed that injured or not, the Sharks will rest all of their contracted Springboks over February. Bok protocols dictate that the Boks must have eight weeks off over the course of the season, and it makes sense for the Sharks to knock off a block of four weeks over a month when they barely play. The Sharks’ sole match over this period is the…

South African MotoGP rider Brad Binder will go into the 2025 season as a senior team member for the first time since entering the elite racing league. Binder said the 2024 race calendar was his most challenging and educational season so far, and he hopes to convert those sometimes painful lessons into wins for his team Red Bull KTM, a month away from race day in Thailand. “I learnt a lot last year. I think sometimes you need to control your expectations. I think that was my first big lesson of the year,” Binder said on Thursday during a Red Bull KTM press conference. “I always wanted that little bit extra, and sometimes it resulted in a lot of crashes, especially at the beginning of the season. That influenced how…

AS if they needed any helping hand, the ever-gallant Mamelodi Sundowns just happened to be the one side to get drawn against the only remaining team from the amateur ranks. At the Nedbank Cup last 16 draw in Randburg on Wednesday night, the Tshwane giants were pitted against Mpheni Home Defenders, who play in the ABC Motsepe League. Even though Sundowns have a history of sending amateur teams to their football ancestors without breaking a sweat – they still hold the PSL record of annihilating Powerlines FC 24-0 in the same competition – there was still humility in their reaction to the draw. Midfield strongman Mothobi Mvala insisted that for their opponents to qualify, it means they are good enough. “I cannot say they are an easy team. Since they…

Cape Town City FC are looking to stabilise their topsy-turvy season when they run out against resurgent TS Galaxy in Sunday’s Premiership clash at Mbombela Stadium (3.30pm kick-off). Despite their precarious position, highlighted by two defeats in their last three outings, City have parted ways with stalwart central defender Keanu Cupido. He was snapped by champions Mamelodi Sundowns hours before the transfer window closed on Tuesday evening. Cupido will fill the void left by defender Rushine de Reuck, who moved to the Israeli Premier League on a loan deal. City coach Muhsin Ertugral is pleased that Cupido’s career has been boosted by the move to Sundowns. “Keanu is a great player that looks to bigger challenges for himself. He deserves that,” said Ertugral. “I think we are good in the…