Innholdsfortegnelse for 2025-02-26 i Star

South African fund managers expect the delayed budget statement to meet expectations regarding policy reforms as they look forward to at least one repo cut this year while they forecast the rand to hit R17.60 to the dollar. Fund managers surveyed for the Bank of America South Africa Fund Manager Survey for February, 69% said they “expect the economy to get a little stronger” while 62% said they “expect inflation (to be) slightly higher” for this year. Fewer managers see the next rate cut by the South African Reserve Bank in the second quarter of the current year. However, the surveyed managers' repo forecast over the next 12 months rose in February to 7.19% compared to 7.18% previously. They have also forecast SA’s R2035 bond yields to ease to 10.08%.…

The Takeover Regulation Panel (TRP) has ruled that the DK Trust acted in concert with JSE-listed printing and packaging company Novus Holdings in its mandatory offer for computer and technology distribution company Mustek, also JSE-Listed, which was announced on November 15, 2024. The decision, detailed in a 34-page ruling by TRP’s deputy executive director, Zano Nduli, mandates immediate compliance with takeover regulations. The TRP concluded that the DK Trust’s irrevocable undertaking, signed on November 13, 2024, not to accept the mandatory offer or sell its Mustek shares until the offer closed, was “a critical enabler” of Novus’s R13-per-share bid. “The DK Trust’s waiver undertaking… reduced Novus’s financial exposure under Regulation 111 by approximately R123 million,” Nduli wrote, lowering the required bank guarantee from R458.9 million to R335m. This, the panel…

Over the past year, only two of the 16 key currencies monitored by Currencies Direct have proven to be more resilient against a resurgent US dollar than the South African rand. Between February 29, 2024 and February 24, 2025, the rand has strengthened by 4.6% against the world’s dominant currency, with only the Malaysian ringgit managing a better performance. In the process, South Africa’s currency has left the Euro, the British pound and all the currencies of the other BRICS nations floundering. The US dollar’s bull run towards the end of 2024 was caused mainly by expectations of higher economic growth, following the Republican Party’s victory in the presidential election. US President Donald Trump has promised to follow a growth-enhancing macroeconomic policy approach, which is likely to include tax reductions…

Atlantis Foundries, a leading African foundry, unveiled a massive embedded solar generation plant today in partnership with Energy Partners, as load shedding once again disrupts South African industries. The launch aims to bolster energy security for the export-heavy manufacturer. The 13.5 MWp facility, equipped with over 20 000 solar panels, will generate more than 20 000 MWh annually, covering 20% of the foundry’s power needs. At current Eskom tariffs, this translates to savings of over R35 million per year. The project also cuts CO₂ emissions by 21 000 tons annually, critical for a company responsible for 2% of AGOA exports and 4% of South Africa’s EU trade, facing growing international carbon regulations. “This project is a blueprint for manufacturers hit by the energy crisis,” said Energy Partners CEO Manie de…

Curro Holdings, the JSE-listed private schools group, saw a credible operating performance with strong cash flows during the 2024 financial year, but student number growth is weak, a trading statement showed Tuesday. Curro’s share price traded 2.38% lower to R12.30 on Tuesday midday at a time when the JSE All Share Index was 0.43% higher, but the price is still 16.5% above the price a year ago. Directors said consumer spend remains constrained, and the group's enrolment has not benefited from moderating inflation and the gradual easing of interest rates over the last few months. Nevertheless, Curro is in a healthy financial position, and recurring headline earnings per share are expected to increase between 9.3% and 17.5% for the year to between 80 cents and 86 cents a share, from…

March ushers in an exciting array of stage productions with Molly Street at the Theatre on the Square, among the offerings. This production is set during the socio-political limitations of pre- colonial Zimbabwe. Written and directed by Peter Churu, Molly Street is based on a folk tale of a young woman caught in the brutal realities of her time, circa the ’60s. Starring Chidochangu Jo Anne Tenga with Patrick Tembo, this powerful play unpacks how Molly, after being murdered in a crime of passion, haunts the town in search of justice. As such, local authorities named a street in her honour, an act that defied social norms. In a recent chat with Churu, he shed light on the genesis of the production, especially the relatable gender-based violence theme. “Crimes of…

THE Passenger Rail Agency of SA will have to pay up for a damages claim in which a woman suffered serious injuries after jumping from a moving train in an alleged desperate move to evade knife-wielding thugs.  The woman, a 27-year-old female, was a passenger on a train during February 2020 travelling between Cape Town and Elsies Rivier and, according to court records sustained a skull fracture, cerebral contusion and blunt trauma to her right shoulder, back, and neck when she jumped off the train between the Vasco and Goodwood train stations. The woman submitted that her injuries were caused by the negligence of Prasa and/or its employees and argued this negligence on three grounds: namely that Prasa failed to ensure the safety of the passengers on the train by…

EFF Member of Parliament, Carl Niehaus says he takes the death threats by founder of the right-wing Delta Force, Leon Johan Koekemoer seriously. On Thursday, Niehaus opened a case of intimidation against Koekemoer following the death threats allegedly made on Koekemoer’s Facebook page this past week. Niehaus says he was informed by one of Koekemoer’s followers on Facebook about the threats made by Koekemoer through the social media account. Niehaus said Koekemoer’s threat on his life warranted an investigation by the police as Koekemoer was a trained former member of the Boeremag. “Koekemoer, a former member of the Boeremag, is a leader of a far right-wing group called Delta Force. This is the same person who threatened to kill Nelson Mandela. He is well-trained special force member of…

Purpose is far more than an abstract idea, it is the raw energy that shapes our lives and directs our shared future. Long before I donned the white coat, I was deeply involved in the struggle against apartheid – a battle for justice that ignited my lifelong commitment to uplift the oppressed. That early fight taught me that purpose is born long before formal education, emerging instead from the crucible of lived experience. In my early years as a doctor, I dedicated myself to healing individuals with genuine compassion. Yet, as I witnessed systemic inequalities that left entire communities unheard, I came to understand that real transformation demands a broader vision. I recall the moment I chose to step away from personal healing in medicine for a mission capable of…

Considering the kind of exciting rugby that the Lions have played this season, it is somewhat surprising to see them languishing in 12th position on the United Rugby Championship log. They have won and lost five matches each, and are on 23 points – just four off the last playoff spot in eighth, which is currently occupied by the Scarlets. So, there is still real hope that the Johannesburg side can reach the URC quarter-finals, but they need to start winning more regularly – starting with Saturday’s clash against the Sharks at Ellis Park (2.30pm kick-off). Scrum coach Julian Redelinghuys noted on Tuesday that the Lions have only emerged victorious in one SA derby this season: the 30-23 win over the Stormers in Joburg on February 15. They lost 35-22…

Mohamed Salah’s statistics this season are off the charts but his hopes of winning the next Ballon d’Or could hinge on how much silverware Liverpool scoop up this season, manager Arne Slot said on Tuesday. The 32-year-old Egyptian is enjoying arguably the best season of his career with 25 Premier league goals already as Liverpool close in on the title. Liverpool are also in the League Cup final and are amongst the favourites to win the Uefa Champions League having finished top of the expanded group phase. No African player has won the Ballon d’Or since George Weah in 1995 and no Liverpool player has won soccer’s top individual award since Michael Owen in 2001, since when only twice has it gone to a player from an English club. Salah’s…

AS MAMELODI SUNDOWNS look to stretch their lead atop the Betway Premiership table even further — so much so that chasing teams like Orlando Pirates lose hope of catching up — the team standing in their way tonight has motivation beyond just bagging three points. Sekhukhune United are having a strong season, with Ba Bina Noko positioned high in third place on the league table, albeit a massive 17 points behind the defending champions, with both having played 18 matches. Victory at the Old Peter Mokaba Stadium tonight will allow Lehlohonolo Seema’s team to reduce that gap slightly and, more importantly, hang on to the CAF Confederation Cup spot. As if that wasn’t motivation enough, there’s also the small matter of the fact that the other two Limpopo teams have…

The Airports Company of South Africa (Acsa) has filed for leave to appeal a significant judgement delivered by the Gauteng High Court in November 2024, which has currently halted its efforts to procure essential baggage screening equipment through an open tender process. This legal manoeuvre signals Acsa’s determination to assert its constitutional mandate amid rising tensions within the aviation sector. At the centre of this judicial battle is Aviation Co-ordination Services (ACS), a consortium created by prominent airline associations, including the Airlines Association of Southern Africa (AASA) and the Board of Airline Representatives of South Africa (BARSA). The court has ruled in favour of ACS, permitting it to replace its back-up screening equipment while simultaneously interdicting ACSA from advancing with its plans to self-provide baggage screening equipment. This judgement will…

As South Africa takes on the G20 presidency for 2025, it has a unique opportunity to address two of the most pressing issues of our time: countering corruption and tackling illicit financial flows (IFFs) - the movement of money that is illegally acquired, transferred, or spent across borders. Deemed an opportunity missed by Brazil during its leadership tenure in 2024, corruption and IFFs undermine the continent’s progress towards the African Union’s Agenda 2063 and its ability to meet the UN’s Sustainable Development Goals (SDG) targets. South Africa’s G20 presidency offers an ideal platform to address corruption’s devastating impact on Africa and place it firmly on the global agenda. Corruption facilitated by professional enablers in the global financial system divert resources away from critical areas like healthcare, education, and infrastructure, leaving…

Solar power is one of the fastest-growing renewable energy technologies globally. With rising energy demands, decarbonisation goals, and concerns over energy security, this technology is set to account for a considerable portion of the energy market. Silicon-based solar technologies dominate; however, there is rising interest in an emerging technology known as perovskite. Perovskites have the potential to enhance existing silicon solar supplies, but which applications can perovskite solar be used for, and how will it compete in a market dominated by an already well-established technology? In a new report from IDTechEx, Perovskite Photovoltaic Markets 2025-2035: Technologies, Players and Trends, the emerging perovskite photovoltaic (PV) technologies, the major players, and the key application areas driving their adoption are comprehensively covered. Data-driven benchmarking of solar technologies, including single-junction perovskite, perovskite/silicon tandem and…

The SolarButterfly, a Tesla Model X towing a solar-powered mobile home, visited South Africa’s first off-grid electric vehicle (EV) charging station in Wolmaransstad, in the North West province of South Africa, earlier this week. The stop came on Monday as Eskom reinstated stage 6 load shedding, underscoring ongoing power challenges in the country. The SolarButterfly, which began its global journey in May 2022, aims to cover six continents and 90 countries by December 2025 to promote renewable energy and combat climate change. Its 40 square metres of solar “wings” generate up to 7 kilowatts (kW) of power, with additional panels boosting output to 14 kW, enough for a 220-kilometre range, Zero Carbon Charge (CHARGE) announced in a statement earlier this week. For longer trips or cloudy days, it relies on…

Grindrod, the JSE-listed logistics services group, has identified a growth pipeline that includes several logistics infrastructure-led investment opportunities in South Africa valued at R8 billion. “Grindrod is uniquely poised to take advantage of the opportunities in the logistics space as South Africa progresses on its logistics network reform agenda,” the group said in a trading statement on Tuesday. The group is participating in the open access slots process across the rail network in South Africa. “The business will be discerning in the corridors it tenders for, evaluating the opportunities against a set of criteria including efficiencies, customer commitments, understanding of the corridor and the impact on the overall returns across the logistics value chain,” the directors said. The acquisition of the remaining 35% shareholding in Matola terminal in Mozambique for…

Gauteng Premier Panyaza Lesufi’s State of the Province Address (Sopa) has been met with scepticism and criticism from opposition parties, who claim that his speech lacked substance and concrete plans to address the province’s pressing challenges. Lesufi laid bare his plans for the province for the next 12 months and announced 13 key priority challenges and plans for addressing them and getting Gauteng working again at the Sopa on Monday night. However, the Economic Freedom Fighters (EFF) provincial chairperson, Nkululeko Dunga, expressed disappointment with Lesufi’s failure to provide a comprehensive plan of action to tackle the province’s problems. “What we are extremely aggrieved by is that inasmuch as he speaks about the challenges, he does not speak about an in-depth programme of action,” Dunga said. He stressed the speech lacked…

Gauteng premier Panyaza Lesufi hailed Tshwane mayor, Dr Nasiphi Moya, for leading a progressive administration following the collapse of the DA-led coalition government last year. Lesufi commended Moya’s leadership, as he listed the province’s 13 problems during the State of the Province Address (SOPA) on Monday at the Tshwane Automotive Economic Zone (TASEZ). Lesufi said cable theft and vandalism, unemployment, and gender-based violence are among the major challenges that plague Gauteng. “Under your leadership, Dr Nasiphi Moya, and deputy mayor Eugene Modise, Tshwane is back, Tshwane is better, Tshwane is bolder. “Together with other parties in our administration, you have demonstrated that a city can be clean, a city can serve all its residents, and a city can work,” said Lesufi. Detailing the province’s strides, Lesufi said the TASEZ was…

To commemorate the 115th anniversary of the first game at Old Trafford, HONOR today announced that its new AI photo upscaling feature on the HONOR Magic7 Pro, powered by the Snapdragon® 8 Elite Mobile Platform6, has revitalized iconic historical photographs of Manchester United's legendary stadium, nicknamed “Theatre of Dreams” in connection with Qualcomm Technologies, Inc.’s sponsorship of the club. Since 1910, Old Trafford has been the stage for countless unforgettable moments in world football. Now, HONOR's AI technology powered by Snapdragon 8 Elite brings these treasured images into the 21st century, enhancing their clarity and detail. The new HONOR Magic7 Pro, powered by Snapdragon® 8 Elite Mobile Platform offers a wide range of powerful AI photography features, from AI Super Zoom and AI Enhanced Portrait to AI Motion Sensing Capture.…

As the countdown to Saturday's clash at Lucas Moripe Stadium begins, Kaizer Chiefs find themselves in an all-too-familiar position — facing the indomitable Mamelodi Sundowns after a series of painful encounters. Once again, the question looms: Can Chiefs shore up their defensive frailties to avoid a repeat of earlier humiliations? In recent seasons, Chiefs' meetings with Sundowns have largely ended in disaster, with the most crushing blow being a 4-0 drubbing in the Carling Knockout earlier this season. But that loss was far from isolated. Last season, the champions annihilated Amakhosi 5-1 in a match that left fans reeling. As they prepare for yet another encounter, Chiefs' defensive vulnerabilities have emerged as a key concern. With 23 goals conceded in just 18 league games, Chiefs currently hold the second-worst defensive…

One of the toughest things for Steven Kitshoff, after he decided to retire, was telling his coaches that he was hanging his boots up for good. Kitshoff (33) yesterday officially called time on an illustrious career with the Springboks, Stormers and Western Province. Although he still wanted to continue playing, a serious neck injury cut those ambitions short a year after he won a second Rugby World Cup with the Boks. He rejoined the Cape outfit at the start of the season after spending a ‘gap year’ at Ulster, and he was set to finish his career in the Mother City where it all began in 2010. The injury during a match for WP in the Currie Cup and subsequent advice from medical professionals following a successful fusion surgery made…

Mercedes Formula One driver George Russell won’t carry last season’s beef with Red Bull’s Max Verstappen into the new campaign, the Brit has insisted. The rivals fell out at last season’s Qatar Grand Prix on December 1. The 27-year-old Russell claimed the championship winner had threatened to put his f***ing head in the wall by deliberately crashing into him. Speaking at the F175 event in London ahead of the 2025 season, however, Russell sounded determined to move past his run-in with the Dutchman. “We haven’t spoken, (I have) no concerns about him or his driving or anything,” he said.“That happened last year and I want to focus on myself. “Obviously, things I felt got out of line at the end of last year, and I made it pretty clear that…

VAT is seen as a regressive tax that disproportionally negatively affects the poor. South African Reserve Bank (SARB) Governor, Lesetja Kganyago, has cautioned that the proposed 2 percentage points increase in the value-added tax (VAT) would be treated as an “economic shock”. Last week, finance minister Enoch Godongwana was forced to postpone tabling the 2025 Budget Review in Parliament by three weeks as parties within the Government of National Unity (GNU) disagreed over the increase of VAT from 15% to 17% in a bid to raise an additional R58 billion in revenue. Speaking to the SABC on the sidelines of the G20 meeting of Deputy Ministers of Finance and Deputy Central Bank Governors in Cape Town on Tuesday, Kganyago hinted that the SARB would react when the VAT increase leads…

Minister of Tourism, Patricia de Lille, has reassured the local Meetings, Incentives, Conferences and Exhibitions (MICE) industry that the government wanted to position Africa as a global powerhouse in the MICE sector and grow it from more than R120 billion it was worth in 2023. Speaking at the opening of the Meetings Africa 2025 on Tuesday, Tourism Minister Patricia de Lille said the gathering was a powerful platform where ideas meet opportunity, where connections spark innovation, and where Africa stood together to showcase its limitless potential. According to Allied Market Research, the global MICE industry was valued at approximately $523.3bn (R9.6 trillion) in 2023 and the South African MICE industry was valued at $6.6bn in 2023. De Lille said the industry and the government can drive lucrative investments, create jobs,…

There is new momentum around country platforms (CPs) as a change in course in the financial mobilisation for climate and development outcomes. The idea of a "country platform" has been used in international development cooperation to describe country-level coordination that links international goals to domestic priorities, thereby both securing and directing international support, primarily finance. In their simplest definition, these platforms are government-led coordination that establish a hub of gravitas for governments and partners to navigate complex political, social, and economic realities, agree on shared priorities. The Just Energy Transition Partnership in South Africa is an example of an emerging country platform for climate action. Although not relatively new and in trial over the last two decades, these have not been clinically examined, refined, or incorporated into successive development interventions.…

Redefine Properties, the South African and Eastern European commercial property REIT listed on the JSE, said its earnings outlook has stabilised even though the cycle of global interest rate cuts may be shallower than it had previously expected. This was according to Redefine CEO Andrew König, who said in a pre-close update for the six months to February 28 their South African portfolio had a net operating profit margin of 77.8%, while EPP, the Polish retail property platform, improved its margin to 71.7% from 66.4%. This group net operating profit margin was 75.9%. “To sustain growth in valuations, we cannot rely solely on interest rate movements. Our strategic focus remains on organic income growth, as this will drive value creation in the current market,” König said. He said the…

The convener of the reconfigured ANC provincial executive committee (PEC) in KwaZulu-Natal, Jeff Radebe, has vowed to return the party to its former glory. The previous committee had been disbanded following the party’s poor performance at the May 2024 general polls, where it managed to get 17% of the votes. Radebe and his team of 67 expanded PEC members were formally introduced by the party’s Secretary-General, Fikile Mbalula yesterday afternoon. Radebe was unveiled to the public together with five other officials who will make up the top six structure. His deputy is former Social Development MEC Weziwe Thusi, whose role is the first deputy convener, while Siboniso Duma, the former provincial chairperson, will take up the second deputy convener’s position. Mike Mabuyakhulu made a strong political comeback, taking the coordinator…

Just before Gauteng Premier Panyaza Lesufi was about to deliver his State of the Province Address (Sopa) on Monday night, Gauteng police revealed that one suspect had been arrested and that six others had been gravely wounded in a shootout with the police. According to Gauteng Police spokesperson, Lieutenant Colonel Mavela Masondo, the suspects were allegedly on their way to rob a cash van in Atteridgeville, Pretoria, when they were intercepted. The incident coincided with Lesufi’s address in which he commended the provincial police for their work in stemming the tide against organised crime. Lesufi revealed a bold plan of using technology and private partnerships to help fight crime, adding that the province cannot use old technology to fight crime anymore. “Together with the private sector, we have identified and…

The R’n’B and soul superstar – who was behind the hits The First Time Ever I Saw Your Face and Killing Me Softly With His Song – died “peacefully surrounded by her family” on Monday morning. A representative for the singer/pianist said: “We are heartbroken that the glorious Roberta Flack passed away. “She died peacefully surrounded by her family. Roberta broke boundaries and records. She was also a proud educator.” A cause of death is not known. However, in November 2022, it was revealed that Flack had been left unable to sing after being diagnosed with ALS (amyotrophic lateral sclerosis) – a neurodegenerative condition also known as motor neuron disease, which affects the brain and nerves. Her manager Suzanne Koga said ALS made it “impossible” for her to sing and…

The much-anticipated Proteas and Australia clash at the ICC Champions Trophy was abandoned due to consistent drizzle throughout the day in Rawalpindi on Tuesday. Each side received one point with both teams moving up to three points, although the Proteas remain on top of the Pool B due to their superior net run-rate. There are three matches remaining in Pool B with England and Afghanistan set to lock horns on Wednesday before Australia meet Afghanistan on Friday. England and the Proteas close out the Pool B action on Saturday. Here’s qualification scenarios for each of the four teams in the group: Proteas Temba Bavuma’s team are currently top of the log due to their comprehensive 107-run victory over Afghanistan that raised their NRR to +2.140. Victory over England on Saturday…

It was a real eyesore watching Mamelodi Sundowns face Orlando Pirates a few weeks ago at Loftus Versfeld. No, I’m not a Pirates supporter, so it’s not because of the 4-1 victory to Sundowns. although Buccaneers coach Jose Riveiro mentioned the state of the surface afterwards. It was rather due to the poor state of the pitch at the home of Blue Bulls rugby, who often rent out their stadium to the Brazilians – no doubt also influenced by the fact that Sundowns owner Patrice Motsepe is also one of the Bulls owners. But Loftus still resembles a cabbage patch at the moment due to the heavy rains that have lashed Gauteng in recent weeks, and it was again in a bad state for the last two Bulls matches held…

Betway Premiership side Royal AM has been disqualified from the Nedbank Cup due to their failure to fulfil a key fixture against Milford United. The club's inability to honour its commitments stems from ongoing financial difficulties, leaving fans and stakeholders in disbelief. The PSL announced on Tuesday that the KwaZulu Natal based outfit would be removed from the competition due to time constraints. “The NSL Executive Committee convened on Monday to consider further representations from the Curator and management of Royal AM Football Club,” the statement read. “Having reviewed these representations, the Executive Committee, in concurrence with Royal AM and the Curator, resolved that Royal AM Football Club will take no further part in the Nedbank Cup competition this season, in the interest of time.” “The Nedbank Cup fixture (number…