Innholdsfortegnelse for 2022-07-28 i Pretoria News

ESKOM has expressed hope that the newly-announced energy plan will help it recover sufficient generation capacity while it gears up for a multibillion-rand transition to renewable energy. Eskom’s general manager for strategy and planning, Matthew Mflathelwa, yesterday revealed for the first time that the energy transition could cost as much as R1.2 trillion. Mflathelwa said about R990 billion of that sum would be for generation in the energy transition plan, while R330bn would be for meeting compliance regarding air-quality requirements. However, Mflathelwa said Eskom would not be able to foot this energy transition bill as it was still saddled with at least R400bn debt. “We are by no means saying that the R990bn will come from Eskom,” he said. “We are creating an environment where other investors can…

AECI LIFTED its interim dividend by 8 percent to 194 cents per share in the six months to June 30 after reporting record headline earnings per share as customer demand reached pre-pandemic levels. Chief executive Mark Dytor said in a telephone interview that in spite of the inflationary environment, they were cautiously optimistic about further earnings growth for the second half, with commodity prices still relatively robust in the sectors that the diversified chemicals group operates in. Revenue was up 31 percent to R15.51 billion boosted by rising commodity prices. Headline earnings per share increased 8 percent to 573c. Gearing rose to 44 percent from 27 percent. Dytor said they had largely been able to offset higher input costs with disciplined pricing. Working…

BRITISH American Tobacco (BAT) yesterday reported a lower pre-tax interim profit as its operating costs rose in a tough macro-economic environment and as it was hit by a £1 billion (R20.25bn) impairment charge as the company exited Russia. In its half-year report to June 30, 2022, the producer of Dunhill, Camel and Lucky Strike said its pretax profit fell 30 percent to £3.06bn from £4.38bn from the corresponding period last year owing to higher expenses. Operating costs jumped 49 percent to £5.09bn. Basic earnings per share were down 42.9 percent at 81.2p. However, the firm saw growth largely driven by strong growth in New Categories, which led revenue 3.7 percent higher, excluding the impact of exchange rates, to £12.9bn. The traditional combustibles were broadly flat. New…

The EFF in Tshwane will work with the South African National Council for Alcoholism and Drug Dependence (Sanca) to assist young people to kick the substance abuse habit. The party’s regional chairperson, Obakeng Ramabodu, led members of his party to the Sanca facilities in Akasia, where they viewed the infrastructure and engaged the leadership on collaborative efforts to mitigate against substance abuse and addiction. The party last month registered 500 young people in Pretoria CBD, who asked to be assisted to beat their addiction by means of rehabilitation. This was part of the EFF’s Youth Month programme to assist young people struggling with addiction and get them back on their feet to the point that they could be active members of society who play a positive role in the economy.…

THE Labour Court has overturned an ex-parte court interdict obtained by the City of Tshwane on March 24 against workers who engaged in a violent protest over a salary increment. The order was granted pending the hearing of the matter brought by the municipality against the regional SA Municipal Workers Union (Samwu) and its affiliated employees for allegedly being behind the protest. At the time, the City expressed concern about acts of vandalism of municipal infrastructure and the fact that service delivery was impacted negatively. The protest broke out on the back of an application by the metro on March 8 at the SA Local Government Bargaining Council, where it sought to be exempted from the implementation of the salary increase collective agreement with the unions. The court heard the…

Eating the sweet chocolate spread Nutella on bread is a favourite of most children. However, trying to scoop it with your finger in a bid to break the Guinness World record for eating the most Nutella in 60 seconds does not always provide for sweet victory – especially if the elements are against you. Pretoria East financial adviser Billy Cowley is no stranger to attempting the world record in eating ordinary household products. He previously held the world record for eating the most Marmite in the world in 60 seconds. He was, however, overtaken in this when someone bettered his record. Although favouring salt over sweet, Cowley on Thursday night at Hennie’s Pub in Moreletapark decided to attempt the world record for eating the most Nutella. But things didn’t go…

SPRINTER Luxolo Adams has been officially withdrawn from the Team South Africa athletics squad for the Commonwealth Games, but fellow speedster Henricho Bruintjies must avail himself for the competition next week. Adams, who will celebrate his 26th birthday on Monday, produced an outstanding performance at the World Athletics Championships in Eugene, Oregon last week. In what was his first world championship, Adams advanced to the 200m final after clocking 20.10 seconds in his heat and 20.09 in the semi-final. But his coach, Gerrie Posthumus, told Independent Media yesterday that Adams sustained a groin injury in the final, where he battled on the home straight to finish eighth in 20.47 – well short of his personal best of 19.82, which he produced in late June at the Paris Diamond League.…

BANYANA Banyana star Jermaine Seoposenwe has insisted that the penalty which her side were awarded in their 1-0 Wafcon semi-final win over Zambia was a fair decision. In second half stoppage time of that game, Banyana were awarded a penalty controversially after Martha Tembo was judged to have fouled Seoposenwe in the box. “Unfortunately the goal came the way it came. It was controversial. I think that was a penalty. “You cannot obstruct a player going into the box. “A lot of people have their opinions on what happened but for me, it was a penalty. “We won the game fair and square. “We might have not been the best team on the day. “They gave us a run for our money but we showed a lot of resilience to…

There is a welcome relief in sight for motorists – under immense cost of living pressures – as fuel prices are expected to come down by roughly 7 percent as Brent crude prices dropped lower. Annabel Bishop, the chief economist at Investec, said with only a few days of July left, lower energy prices this month were indicating a 7.4 percent drop in South Africa’s petrol price in August and a 6.2 percent decline in the diesel price, which would provide some welcome relief to high living costs, if government passed them through. “Energy prices have fallen as global growth expectations for this year and next year drop lower again,” she said, adding that the International Monetary Fund had published a gloomy update late on Tuesday to…

The July 2021 unrest in KwaZulu-Natal and Gauteng was an orchestrated and well-planned action to shield those who were responsible for state capture. This view is expressed in the ANC national executive committee (NEC) document on corruption and state capture to be presented to the party’s national policy conference this weekend. The ANC wants its branches to discuss the document and find measures to fight against any state capture in the future. Yesterday ANC task team head on state capture Jeff Radebe agreed with the Zondo Commission’s findings that some of the senior party leaders had colluded with the Guptas to weaken the state and their organisation. The report states that: “The orchestrated acts of public violence and destruction in July 2021 need to be viewed in this context. It…

KWAZULU-NATAL Premier Sihle Zikalala’s defeat at last week’s ANC KZN elective conference has reduced him to a lame duck leader of government who will have to get used to taking instructions from the new leadership. Political analyst Professor Sipho Seepe said Zikalala’s situation had been made difficult by his failure to make it as a member of the provincial executive committee (PEC). Seepe believes Zikalala should resign to spare himself the humiliation of a possible recall by the governing party’s new leadership. Zikalala was defeated by new chairperson Siboniso Duma, and all members of his slate lost to the grouping known as the Taliban. While another contender for the position of chairperson, Nomusa Dube-Ncube, got the second highest number of votes from the floor at 1 112, with Peggy Nkonyeni…

Following the 2021 drop-out rate released in Stats SA’s General Household Survey, experts believed that the pandemic has worsened the challenges pupils had already been dealing with. Data in the survey revealed that close to 3% of 15-year-olds and nearly 9% of 17-year-olds dropped out of school. Most 18 and 19-year-olds were still attending secondary school. Almost three out of 10 pupils aged 18 years (29,3%) and four out of the nine pupils aged (46,3%) of 19-year-olds had dropped out of school. Independent education analyst Hendrick Makaneta said that the data released by Stats SA only laid bare the issue of dropout rates. “It should be clear at this point that most of the 18-years-olds that drop out do so at Grade 10 level … These are mostly learners who…

A FEW years ago, I drove down to Durban in a VW Caddy “panel van” to second my brother and a friend who were doing their umpteenth Dusi Canoe Marathon. It was hard work being a second in high temperatures and energy-sapping humidity, having to speed ahead to meet them at specific points to check whether things were okay, hand out a quick bite to eat and then drive to the overnight spot to pitch tents and sort dinner for the evening. That meant a lot of gear had to be carted around over three days. The Caddy coped admirably and was a comfortable frugal drive throughout the time we were racing around. I was reminded of this after driving the recently upgraded VW Caddy offering but, this time, I…

KAIZER Chiefs and Nike have celebrated the kit manufacturer’s 50th birthday with an iconic Amakhosi jersey for the 2022/23 season, taking inspiration from the South African flag. The new season’s home kit keeps to the tradition of it being predominantly gold in colour and features a modern design with the iconic shirt complemented by the black pattern on high vibration frequency that measures energy, connectivity, and balance. Finding inspiration in the design of the South African flag, Chiefs will wear a shirt that blends heritage with a look to the future. Motifs of peace and victory combine in the new home kit, which contains a striking V-shaped geometric design. “We continue to work hard to ensure that we produce world class jerseys for both home and away games for the…

This follows significant fair value adjustments in the company’s investment property TRANSNET has swung into a R5 billion profit for the year ended March 31, 2022, up from a loss of R8.7bn reported a year ago, following significant fair value adjustments in the company’s investment property valuation. The logistics company bucked the trend of poor performing State-Owned Enterprises in spite of weak economic growth and persistent operational challenges. Transnet also received an unquali- fied audit report for the first time since 2018 as irregular and wasteful expenditure declined materially. The unqualified audit opinion was critical because it has had a number of implications for Transnet with regards to fundraising and just being active in the capital markets. Transnet chief executive Portia Derby yesterday said that the company was gradually…

THE OMBUDSMAN for Banking Services (OBS) yesterday issued a warning to South African bank customers that it was still receiving, investigating and resolving clients’ complaints relating to collections on prescribed debts. In some cases, banks have been found guilty of engaging in this illegal practice, it said. Reana Steyn, the Ombudsman for Banking Services, confirmed that, between January last year and July this year, the OBS received and investigated a total of 193 complaints relating to allegations of collections on prescribed debts by banks. An amount in excess of R1 million was written off or repaid to complainants. A total of 118 complaints were received last year. In about 33 percent of these cases the banks in question were found to have been unlawfully collecting or attempting to…

Commission’s recommendation that he be suspended taken to task and it is asked to submit written reasons THE JUDICIAL Service Commission (JSC) has been asked to submit written reasons to Western Cape High Court Judge President (JP) John Hlophe’s legal team for its suspension recommendation made to the Presidency. Through his legal team, Hlophe also said he was contemplating applying to court to have the process followed by the JSC and the resultant decision to be set aside on review. Representing Hlophe, Barnabas Xulu SC, wrote to the JSC adding that his client had been prejudiced by the JSC. “As stated by yourself, Judge President Hlophe had made comprehensive written representations to the JSC prior to the JSC taking its decision. Those representations were contained in a letter written by…

PRESIDENT Cyril Ramaphosa has joined the growing calls for men and women in sporting codes across the board to be paid equally without further delay. Ramaphosa, in welcoming the CAF Africa Women's Cup of Nations-winning Banyana Banyana squad to the Union Buildings yesterday, thanked the team for delivering on the promise to bring the trophy home. He said the team had reached the pinnacle of women's football on the continent, and for persevering despite the difficulty faced by many of the players. "The good news of your win was like rain falling on dry and parched ground. You have through your victory lifted the hearts of our nation in the midst of the many challenges our country faces," Ramaphosa said. "You have given us reason to put aside our differences,…

They say good things come in threes, and that could certainly be the case for 4x4 enthusiasts with the release of Mahindra’s new special edition Pik Up range: Dusk, Dawn and Storm. Unique to South Africa and packed with extras designed for life off the beaten track, the three new models are based on the upgraded Karoo specification, and each retail for R614 999. Features include a nudge bar, sports bar, leather upholstery and upgraded infotainment, with the regular 7.0-inch screen replaced by a 9.0-inch system with Android Auto, Apple CarPlay and built-in maps. But the real attraction for 4x4 fundis will be the off-road tyres, hardened rims and heavy-duty off-road suspension. Front and rear steel bumpers that offer improved clearance are also fitted to all three, along with recovery…

Not that it’s much consolation to motorists who are overburdened with record fuel prices, but the sums are pointing towards price decreases for petrol and diesel next month. The rand-to-oil-price interactions in the coming days will have a bearing on the final prices, but current data is pointing towards price cuts of more than R1 a litre for both grades of petrol. According to unaudited data released by the Central Energy Fund on Wednesday, the over-recovery, for the month, points to a decrease of around R1.97 for 95 Unleaded. Unfortunately, what’s left of the “fuel tax holiday” is set to fall away next month, theoretically reducing the decrease to R1.22. On the upside, lower oil prices have been pushing the average over-recovery up by more than 10 cents a day,…

BANYANA Banyana striker Hildah Magaia, whose MacGyver-like skills in front of goal sounded the death knell for Morocco’s Atlas Lionesses in the 2022 Wafcon final, has been snubbed by CAF’s Technical Study Group (TSG) who decided on the composition of the tournament’s Best XI. Yesterday morning, when the Best XI was announced, the South Korea-based striker was a shocking omission from the selection which reflected the best players at the month-long continental showpiece. She picked up the Player of the Final award and that should have influenced the selection panel. Based on her performance in the final, she should have been an automatic selection along with the South African quartet that cracked the nod. The four are - Goalkeeper of the Tournament and co-captain Andile Dlamini, defender Bambanani Mbane, co-captain…