Innholdsfortegnelse for 2023-02-22 i Pretoria News

The SA Reserve Bank’s announcement that the repo rate would rise by 25 basis points is not the best news for consumers. But Nedbank’s head of Retail Investments, Sisandile Cikido, says a change like this is an opportunity for smart investors to diversify their investment portfolios. “An interest rate hike means that the loans you have (for example hire purchase agreements or mortgages) will be more expensive. But it also means that the interest banks pay on certain investments will be more. “And a higher interest rate cycle is the ideal opportunity to take out an investment that would lock in that rise over the medium to longer term, because in due course, interest rates will go down again,” says Cikido. She further explains that certain notice and term-investment accounts…

SUPER Group’s financial performance was significantly exceeding pre-Covid levels buoyed by new business and improving volumes in key sectors, CEO Peter Mountford said yesterday. The logistics group said revenue increased 34.6% to R29.12 billion in the six months to December 31. Earnings before interest, tax, depreciation and amortisation rose by 24.2% to R4.11bn, with earnings per share up 31.6% to 250.3 cents. Headline earnings per share increased 30.1% to 248.3c. In comparison with December 2019, revenue had increased by 54.4%, pre-tax profit by 76.7% and earnings per share by 76.3%. “The ‘focused execution of a robust growth strategy’ and ‘rigorous cost management and operational innovations’ had also helped mitigate rising inflation rates, diesel price increases and rand volatility,” said Mountford. Chief financial officer Colin Brown said in…

POLITICAL parties and civil society organisations are hoping that Finance Minister Enoch Gondogwana will shed light on the scrapping of e-tolls when he delivers his Budget in Parliament, sitting in the Cape Town City Hall, today. The parties expressed doubt after Gauteng Premier Panyaza Lesufi’s comments that the e-tolls had been scrapped and that a final announcement would be made in due course. Lesufi reiterated his statement on Monday when he delivered his maiden State of the Province Address in the Gauteng Legislature. In his remarks, Lesufi said he was “pleased to report that e-tolls have been scrapped”, saying he and the Ministries of Finance and Transport would make a joint announcement on the matter. “Together with the national government, we are on the verge of agreeing on all matters…

Gauteng Premier Panyaza Lesufi conceded that more has to be done when it comes to combating crime, which has taken a lot of innocent lives in the province. Lesufi was speaking during his maiden State of the Province Address (Sopa) in Johannesburg last night. "If I had a choice, I would not deliver this Sopa, as our people have lost confidence in what we say. They think we talk too much and do less. My preference would have been to take you to different sites of Gauteng to showcase the work we have done. Let me assure, we will talk less and do more. We are getting Gauteng back to work,“ Lesufi said. He further said: "Today, let’s openly admit, our province is a home of heartless and merciless criminals.…

COMMEMORATING this year’s Armed Forces Day in Richards Bay yesterday, President Cyril Ramaphosa gave the country's army a pat on the back for its sacrifices and peacekeeping efforts across the continent. Ramaphosa said the country was inspired by its bravery as we stand here in the face of grave challenges confronting our society. The day is commemorated to remember the sinking of the SS Mendi in the English channel during World War I, where 106 South African soldiers died. The day also remembers other members of the army who perished in defence of the country and undertaking other missions. The day started with Ramaphosa laying a wreath at eMpangeni World War Monument across the N2. He then moved to central Richards Bay for a parade and display of army hardware…

Kaizer Chiefs veteran goalkeeper Itumeleng Khune has pleaded for patience from the club’s supporters as his side scramble to get their ducks in a row ahead of the Soweto derby. Amakhosi will meet arch-rivals Orlando Pirates in what is expected to be a capacity crowd at the FNB Stadium on Saturday (3.30pm kick-off). Khune, who has been in the firing line along with head coach Arthur Zwane for his inconsistent performances, spoke to members of the media as the pressure on all divisions of the club rises. The Amakhosi have been known to be a radical bunch in recent years, with tensions increasing due to the number of years the club has gone without lifting a trophy, which has gone up to eight this season. The 35-year-old shot-stopper has deputised…

Mamelodi Sundowns will travel to Egypt for a difficult CAF Champions League clash against Al Ahly on Saturday (9pm SA time kick-off). The Brazilians have enjoyed a decent spell against Al Ahly of late, having lost just one of the last five against the Red Devils, drawing two and winning the last two in the process, with several players living up to the occasion. Soccer writer Smiso Msomi takes a look at five players who have lit up Sundowns versus Al Ahly matches over the years … Themba Zwane (Mamelodi Sundowns) Zwane’s performances in Sundowns’ historic double over Al Ahly were one of the most impressive from any player in a Champions League fixture. Although he wasn’t able to influence the match with an assist or a goal, his relentless…

The parastatal’s shoddy performance has led the company to lose R10 billion in achievable sales KUMBA Iron Ore yesterday, releasing its results for the year December 31, 2022, lowered its production outlook for the next three years due to State-owned Transnet’s shoddy performance, which led it to lose R10 billion in lost sales. Kumba said Transnet had a lack of freight trains to carry minerals to the port. Approximately R6.5bn of those sales were lost in the fourth quarter alone. And due to Transnet bottlenecks, Kumba said iron ore stockpiles increased to 7.8 million tons by December 31 from 6.1 million tons a year ago. Transnet’s poor logistics performance, including a worker strike during 2022, repressed the volume of ore railed to port by 9% to…

MOTUS Holdings’ solid financial position and strong cash flow generation would see it reduce debt, support investment in strategic initiatives and enable continued dividend flow, CEO Osman Arbee said yesterday. Two acquisitions were concluded in the six months to December 31 to extend international growth in aftermarket parts and to enhance the South African retail portfolio. He said in a telephone interview that the group has diversified to the extent that some 43% of its income is no longer related only to new and used vehicle sales. Also, by June 2023, some 25% of income will be derived from across South Africa’ borders. Group revenue increased by 14% to R51.22 billion in the interim period, while operating profit increased by 22% to R2.62bn. Headline earnings per share grew by…

KAP INDUSTRIAL Holdings had several growth projects that would come to fruition over the next two years, with its energy strategy, which gave it promising long-term prospects, CEO Gary Chaplin said yesterday. Some expansion projects included the expansion of medium-density fibreboard capacity in Mkhondo and there were several projects being considered for self-generation of electri- city, mostly through renewable energy, at attractive returns, he said. There were some export opportunities in particle board and polymer businesses in the next six months, and on possible acquisitions, he said there were some opportunities being assessed, but he could not speak about these as yet. “A great deal of time, resources and cost are being spent on energy security at the moment,” he said in a telephone interview. “One of these projects is…

Boris Becker has been branded a “devil” by his estranged wife. The shamed three-time Wimbledon champion, 55, was released from jail in Britain and deported to Germany in December after serving seven-and-a-half months behind bars for hiding his assets after declaring bankruptcy, and has now been accused by his ex-spouse Sharlely Kerssenberg, who is known as Lilly, of not giving her a current address so they can finalise divorce proceedings more than four years after they split. Kerssenberg told German newspaper Bild: “Boris can be charming and loving when he wants to, but also extremely hurtful with words. A devil. “Prison didn’t make Boris a better person. Boris lives in his world in which everything revolves around Boris Becker. “It is not my fault he went to prison. He ruined…

GAUTENG Premier Panyaza Lesufi has singled out one of the City of Tshwane’s Rooiwal Power Station as one of two facilities that will generate more electricity and thus reduce load shedding. Lesufi made the commitment when he delivered his maiden State of the Province Address on Monday, allocating more than R1.2 billion to deal with the energy crisis in Gauteng. He delivered his speech at the Gauteng Legislature which sat at the Joburg City Hall, where he also bade farewell to outgoing Tshwane mayor Randall Williams. He promised to give attention to the state of the municipality’s finances, which recently came under sharp focus following a damning report by Auditor- General Tsakani Maluleke. Lesufi said the energy crisis remained one of the biggest challenges to the province’s accelerated economic recovery.…

FORMER ActionSA MMCs in the City of Tshwane have been accused of meddling in a land acquisition deal involving five properties in Kameeldrift 298-JR, which the municipality wanted to purchase for R2.5 million. The implicated former MMCs, Andre le Roux (Economic Development and Spatial Planning) and Kgosietsile Kgosiemang (Human Settlements), are alleged to have had a secret meeting with land sellers and escalated the property price from R2.5 million to R3 million behind the backs of municipal officials. The pair are implicated in a letter written to municipal group head of human settlements, Nonto Memela, by property department group head Verusha Morgan. Yesterday, the EFF pressed charges of fraud against the two at the Brooklyn police station, furnishing the police with a copy of the letter. EFF regional leader Obakeng…

Local celebrities honoured budding comedians at the Savanna Newcomer Showcase, a prelude to the Savanna Comics’ Choice Comedy Awards, where local up-and-coming comedians are rewarded for their work. The showcase is an integral part of the festivities in the lead-up to the main event that will be held in Joburg on April 15. This affair was hosted by the award-winning comedian Schalk Bezuidenhout, who bagged the Savanna Newcomer Award in 2013, as well as the Intermediate Award in 2015. Some of South Africa’s celebrities and comedians such as Yaseen Barnes, Nina Hastie, Cassidy Nicholson, Kate Pinchuck, Siv Ngesi, Arno Greeff, Tsitsi Chiumya, Kagiso Mokgadi, and Tumi Morake graced the event at The Homecoming Centre in the heart of Cape Town. They were joined by ad agencies, casting agents, and talent…

Johannesburg gets an extra day added for Peppa Pig’s Perfect Day showcase. Little fans of the famous Peppa Pig, will get to play in muddy puddles at the Emperor’s Palace on March 31 at 7pm . Due to popular demand, the extra show was added after multiple shows were sold out. After the Johannesburg season from March 24 to April 10, the show visits the Cape Town International Convention Centre from April 14 to 16, before heading to the Suncoast in Durban from April 21 to 23. Tickets in all three cities are in high demand. Fans get to spend an adventure with Peppa and her brother George Pig and other friends including Candy Cat and Rebecca Rabbit as they embark on their fun and magical time together. This…

World Cup-bound Banyana Banyana were given a wake-up call after they had to settle for a 1-1 draw against Slovenia in their final Turkish Women’s Cup match in Alanya yesterday. Slovenia are ranked a few places higher than Banyana, but did not qualify for the 2023 World Cup that will take place in Australia and New Zealand in July and August. However, at this stage of their World Cup preparations, Banyana should have the edge over teams like Slovenia. The Balkan state, who had never qualified for a World Cup before, had the benefit of playing one more tournament match than Banyana. In the past seven days, Slovenia defeated Uzbekistan and Zambia. In order to ensure that all the players in the South African squad had a chance to play,…

BUSINESS, workers unions and econo-mists have spoken in one voice that Finance Minister Enoch Godongwana needs to provide a pro-poor Budget to alleviate the hardships that consumers have faced due to the rising cost of living in South Africa. This year, the Budget Speech will be delivered at a time when South Africans are already suffering from a skyrocketing cost of living and a persistent energy crisis that is essentially crippling economic growth potential. Standard Bank’s head of cards and payments, Ethel Nyembe, yesterday said many consumers were facing significant financial pressure and would be hoping for some sources of support and relief after enduring price increases across the board, as well as load shedding. “South Africans have been particularly hard hit by a challenging economic climate and higher cost-of-living,…

SASOL’S share price slid 6% as the market digested a mixed set of half-year results to December 3, 2022, as its CEO Fleetwood Grobler detailed several challenges facing the firm, including a disrupted supply chain and higher feedstock and energy cost By 5pm the share price was 4.41% lower at R282. Earlier it fell to an intraday low of R276.20. Despite this, Sasol declared an interim cash dividend of R7 per share, compared to nil cents in 2021 and reported a 100% increase in its headline earning per share to R30.90, compared to R15.21 in the previous period. Grobler said: “We navigated several challenges during the period, including safety and operational stoppages at our mining operations, power supply interruptions which also impacted our suppliers and customers, weaker global economic growth,…

SHARES in construction and engineering group Aveng inched up by 6% on the JSE yesterday after the company announced yet another profitable half-year period marked by a reduction in its South African legacy debt and a strong recovery in its Australian unit. The share price in Aveng on the JSE yesterday traded 6.6% higher at R13.55 in intraday trade compared to the previous day, but was among about six counters – including Anglo Platinum, Steinhoff and Renergen – that touched 12-month lows. Aveng shares closed 13.39% higher at R14.40. In the half-year to end December, Aveng posted its fifth consecutive profit, said CEO Sean Flanagan. This marked significant progress in its transition from a “loss-making, over-geared business” that was previously “under-invested in equipment” to a “cash supportive, profit-making company with…

THE appointment of new legal counsel by accused 3 in the murder trial of former Orlando Pirates captain Senzo Meyiwa will not delay the resumption of the trial in the Gauteng High Court, Pretoria, in May. This is according to the National Prosecuting Authority (NPA) following the appearance of Mthobisi Mncube in the high court on Monday, where his new legal counsel came on record. Mncube informed the court that he would no longer be represented by advocate Thomas Thobane, and had instead appointed advocates identified as Mnisi and Mafafu to represent him in the trial. The trial was postponed late last year to May after two of the five accused, Bongani Sandiso Ntanzi and Muzikawukhulelwa Sibiya, also announced the termination of their legal representation by Thobane. The duo had…

THE embattled City of Tshwane is in limbo after an external legal opinion sought by the metro indicated that the first immediate resignation letter by mayor Randall Williams was valid. Williams unexpectedly resigned last week, notifying council speaker Dr Murunwa Makwarela that he had called it quits with effect from midnight on February 13. There was, however, a change of heart on his part when he amended his resignation date to February 28, causing confusion as to which letter would be accepted as being valid. As a result, the EFF stormed the mayor’s office on Thursday, physically removing some members of the mayoral committee and political support staff, claiming their term had ended when the mayor resigned. Yesterday at Tshwane House, Makwarela announced that a new executive mayor would have…

Like many other fellow musicians, Murdah Bongz, aka Mörda, took to Insta- gram to pay his respects to fallen music icon Kiernan Jarryd “AKA” Forbes. AKA was shot and killed in Durban outside Wish restaurant on February 10. His friend and former manager, Tebello “Tibz” Motsoane, was also killed in the crossfire. Aside from Mörda and AKA being great musicians in their own right, they shared a personal relationship. In the past, AKA dated Mörda’s current wife, DJ Zinhle, real name Ntombezihle Jiyane. AKA and DJ Zinhle share 7-year-old daughter Kairo Forbes, who will now, DJ Zinhle said, be taken care of by Mörda and herself. It seems the three got along well. With the tribute, Mörda posted pictures of AKA with Kairo in the studio. Mörda thanked AKA…

It’s time to ditch our ineffective Sports, Arts and Culture minister SPORT, Arts and Culture Minister Nathi Mthethwa has reached his sell-by-date, and President Cyril Ramaphosa must just save us and get rid of him. Why, you may ask? Well, besides the fact that Mthethwa has proven himself to be a monumental failure, any leader who uses public platforms to make false commitments must go. “It is going to be a law in this country that Banyana Banyana and Bafana Bafana will be paid equally. We are making that decision as the government. It’s not only Banyana Banyana, but all the women’s teams (to be paid equally); we are supporting them as a government.” These are Mthethwa’s words in response to the raging national conversation on income inequality in sport.…