Innholdsfortegnelse for 2023-03-22 i Pretoria News

TRANSACTION Capital’s share price continued to dive on Monday, falling to an intraday low of 12%, after it said core earnings per share (eps) from continuing operations might drop by up to 46% for the half year ending March 31, this year. On Monday, the shares traded at a low of R10.10 closing the day 7.39% lower at R10.65. and have decreased by 69.04% in the past six months, with the market capitalisation now down to R8.7 billion. Transaction Capital’s share price started dropping last week, wiping billions off its value, following the company releasing a trading statement highlighting problems in the taxi-lending business, SA Taxi. At the time, it warned core earnings per share for the six months to March 31 were expected to fall by more than 20%,…

THE HIGH COURT Gauteng Division on Monday began the case brought in by the United Democratic Movement (UDM) and other political and civic organisations, which argues the government and power utility Eskom, has violated basic human rights by implementing load shedding that has knocked critical areas of the economy such as hospitals. The matter, set to be heard from Monday to Thursday this week, was adjourned to Wednesday. Advocate Bruce Dyke, representing ActionSA, said the plea from ActionSA and other organisations hinged around the provision of electricity for 85 police stations, 93 hospitals and 23 000 schools badly affected by loadshedding when the lights were switched off. “The Ministry of Health has actually acknowledged that load shedding has impacted public hospitals,” Dyke told the court presided over by Justice…

THIS WEEKEND’S Black Sea grain deal will benefit all wheat and vegetable importing countries and users, as it would result in downward pressure on prices, says Agricultural Business Chamber (Agbiz) chief economist Wandile Sihlobo. He said South Africa was one of the wheat importers that stood to benefit from softer global wheat prices. “Moreover, the animal feed industry will also benefit from general downward pressure on grain prices, which have been elevated in the past year, and added price pressures to businesses. “Ultimately, the events of this past weekend are positive for global food prices, notwithstanding the ongoing uncertainty about what happens after the end of the current extension. “We think it will be in Russia’s interest to extend the deal further when the current term expires, given that the…

News is that Durban-born Wesli Jacobs has joined The Palace at Sun City as the new executive chef. Dedication and passion for the hospitality industry has seen Jacobs climbing the cheffing ladder, and now proudly claiming the position of executive chef at Sun International’s flagship property. The 33-year-old, who cooked alongside his mother and grandmother from the age of seven, holds a three-year diploma in cookery and kitchen management from the International Hotel School in Durban and is studying for a bachelor’s degree in business administration in hospitality management. Jacobs was previously executive chef at Sun International’s The Table Bay Hotel in Cape Town. “At The Table Bay, I learned how to deal with five-star guests and VIPs from around the world. I would meet them to discuss menus for…

Courts across the country have over the years done a lot to reshape the laws of the land in a bid to make life easier for children, but a law is just a concept, which only takes on practical meaning when it is carried out – very often by social workers. So says Henda van der Merwe, director of the CMR non-profit social work organisation in Gauteng East. According to her, the role of social workers has broadened significantly over the years, and their task is becoming increasingly important, particularly where children (the most vulnerable members of society) are involved. Speaking to the Pretoria News, Van der Merwe said the social worker stands in the midst of society, the law, and those they are meant to help. “In today’s reality,…

Coach Hugo Broos has warned the Bafana Bafana squad that they will be facing a highly-motivated Liberia, who has been promised huge cash incentives to win their upcoming Afcon qualifiers. News reports coming out of the West African country are that the Liberia Football Association (LFA) want to see their national team qualify for the Africa Cup of Nations in Ivory Coast in January and February next year. They have drawn up a comprehensive plan over the past few months to support the team, including offering cash incentives. When the news of the LFA’s incentives reached Broos, he felt lowly Liberia could be motivated to try punching above their weight in the two upcoming fixtures. Liberia are ranked 150th in the world, and Bafana Bafana slot in at 67. The…

Kylian Mbappe will take over as captain of France after Hugo Lloris stepped down following the World Cup final defeat to Argentina, a source close to the team said. Paris Saint-Germain forward Mbappe (24) accepted the role after discussions with coach Didier Deschamps. His first game as captain will be Friday’s Euro 2024 qualifier against the Netherlands at the Stade de France, Les Bleus’ first match since their World Cup final disappointment in Doha on December 18. Tottenham goalkeeper Lloris (36) brought an end to his international career in January, in the weeks after Lionel Messi’s Argentina side beat the French in a penalty shoot-out following a thrilling match that ended 3-3 in extra-time. Lloris had been skipper for more than a decade. Atletico Madrid attacker Antoine Griezmann was named…

Ending last season with a memorable victory over Kirani James has inspired Wayde van Niekerk to push even harder for his ultimate goal: breaking the 43-second barrier in the 400m. The Rio Olympic champion has had a difficult few years, but appeared to be getting back to his best in 2022. He reached the 400m final at the world championships in Eugene, Oregon – having missed out on the decider at the Tokyo Olympics – and despite not clinching a medal, the South African star finished fifth in a time of 44.97 seconds. But the best moment of 2022 came in September at the Gala dei Castelli event in Switzerland, where Van Niekerk posted a season’s best time of 44.33 and beat Grenada’s James in the process as well. Since…

THE CONTAGION over the US banks collapse continued affecting global markets on Monday, with the South African banks index falling 1.6% to 9 215 index points as investors tried to assess the health of the global banking sector. European bank shares have come under huge selling pressure, notably Credit Suisse, following the collapse of the Silicon Valley Bank and Signature Bank. The market has been sniffing out weaknesses elsewhere after US authorities stepped in to prevent contagion and financial market turbulence, as the sale of the troubled Credit Suisse to rival UBS was not enough to calm markets. Shares for local banks followed their global peers and plunged after the UBS takeover of Credit Suisse wiped out $17.3 billion (R319.3bn) in Credit Suisse AT1 bonds, spurring concerns about…

MERAFE Resources, the junior em- powerment partner in a chrome joint venture with Glencore, said on Monday that attributable ferrochrome production increased marginally by 1%, plagued by electricity supply challenges in the second half of the year. In its results for the year ended December 31, 2022, the group said it produced an attributable 384 000 tons of ferrochrome, from 379 000 tons in the previous year. Merafe reported headline earnings of 56.4 cents a share which compares to 66.8c for 2021, and a 2% decrease in revenue to R7.94 billion. The board declared a final cash dividend of R325 million, nearly 41% lower compared to 2021’s R550m payout. “This amounts to 13c per share before dividend tax and brings the total dividend for the…

Court hears it’s not only a financial disaster, but also loss of life, security and well-being of many LOAD SHEDDING has cost South Africa more than R1.2 trillion, and the losses for 2023 are yet to be added to the total figure of loss endured by the country. The R1.2 trillion is equivalent to one quarter of South Africa’s entire Gross Domestic Product (GDP); and that amount far exceeds the budget allocated to police services, courts and prisons, and science and innovation. These were the figures submitted before the full bench of the Gauteng High Court, Pretoria this week, following an application by political parties and civil society organisations to the court to force the government to end load shedding. These details were submitted by advocate Tembeka Ngcukaitobi, SC, who…

THE Electoral Commission of South Africa (IEC) has declared vacancies for City of Tshwane council after some were recently implicated in vote-buying claims. City manager Johann Mettler on Monday said he had officially declared four vacancies by writing to the IEC Gauteng provincial office, informing them of the declaration of four vacancies for proportional representative (PR) councillors. Two ActionSA councillors were at the centre of the collapse of last week’s special council sitting to elect a new mayor. In a statement, City spokesperson Selby Bokaba said the declaration was made after Mettler had “considered all the developments which occurred during last week’s council”. “The three vacancies are two for ActionSA and one for the Congress of the People (Cope),” Bokaba said. Mettler announced the vacancies ahead of another special council…

It’s been a dreadful period for the Bulls over the last few months, but they will have two opportunities to get back on track this weekend and will hope that their fortunes change for the better. Edgar Marutlulle’s Blue Bulls Currie Cup team will lock horns with the Free State Cheetahs on Friday in Bloemfontein, while Jake White’s United Rugby Championship outfit set sail for Belfast yesterday to face Ulster on Saturday. The Pretoria franchise have lost nine out of their last 11 matches across all competitions, including last week’s 41-33 defeat to Western Province and the previous week’s 63-15 annihilation at the hands of the Pumas – both at Loftus. Blue Bulls Rugby Union president Willem Strauss said in a weekend broadcast message on his social media accounts that…

The much-talked-about positive brand of cricket under new coach Rob Walter was on full display as centurion Heinrich Klaasen spearheaded the Proteas to a four-wicket victory over the West Indies in Potchefstroom yesterday. South Africa quite easily chased down the target, after the visitors finished on 260 off 48.2 overs, at the JB Marks Oval as they ended on 264/6 off 29.3 overs to level the series at 1-1. Klaasen got off the mark with a single after Kyle Mayers found the edge of Aiden Markram’s bat in the 11th over of South Africa’s run chase. His next ball was a beautiful cover drive for four off the bowling of Odean Smith, and from that shot onwards his intention was clear – he was not going to hold back from…

Prospective Manchester United owner Jim Ratcliffe says he will not pay a “stupid” price for the Premier League giants, with more bidders expected to enter the race to take over at Old Trafford. The British billionaire is one of two interested parties to have publicly announced their bids to Raine, the merchant bank brought in to assist the club in assessing offers. Qatari banker Sheikh Jassim Bin Hamad Al Thani is the other. United’s unpopular owners, the Glazer family, announced in November they were conducting a strategic review, with the sale of the club one option being considered. The Americans’ asking price is believed to be $6billion. Ratcliffe, chairperson of chemicals giant INEOS, and his team held talks with the club on Friday during a visit to Old Trafford and…

The Lions will land in Italy today and travel to Treviso to face Benetton with what can only be described as their full-strength squad. The Joburgers return to United Rugby Championship commitments on Saturday at the Stadio di Monigo, and one suspects that both the coaches and players will be thankful for the time away. The team’s structures have come under heavy scrutiny in recent weeks, with reports alleging a litany of problems and discontent between the various strata of the union. Players are said to have lost faith in the coaches, with unhappiness also directed at upper management, while there are also reports that the coaching staff have also been at odds with their employers. Whether there is any truth to all of it, there is an argument to…

Police have arrested at least 87 people for public violence-related offences ECONOMIC activity ground to a halt in South Africa on Monday as businesses in major centres closed their doors and the logistics industry was disrupted in response to the national shutdown. The shutdown, which was called for by the EFF, saw thousands of people taking to the streets to protest against crippling power cuts, the rising cost of living, the high unemployment rate, and crime, among other socio-economic concerns. At least 87 people were arrested for public violence-related offences in the nationwide anti-government protests that began before midnight on Sunday. In his weekly newsletter on Monday, President Cyril Ramaphosa reiterated the right of any person or organisation to protest, but said no one should be forced, threatened or intimidated…

SHAREHOLDER sentiment prevails as RCL Foods battles consumer price inflation, strike action and rallies in global agricultural commodity and energy prices. RCL Foods is accusing Breede Coalitions of abusing and profiteering from appraisal rights clauses under the Companies Act stipulations following the company’s repurchase of R2.2 million worth of shares held by the minority shareholder. RCL Foods is a leading local food manufacturer selling products such as chicken, dog food and maize meal. The dispute arose subsequent to the group unwinding its existing black economic transaction and the repurchasing of shares. Earlier this month, RCL Foods chief finance officer, Rob Field, said the company was not declaring a dividend in the interim period for the year ended December 2022 with the goal to to keep preserving capital. The company,…

Skincare has become an essential component of a wellness regimen – not because celebrities are doing it, but because having dull skin seriously tanks your self-esteem. About the time I turned 24, I had the unfortunate experience of a second wave of puberty and ever since, I’ve been interested in learning what, besides using a gazillion products, could help me maintain youthful, supple skin from the inside out. After hearing Gerry Cupido and Marchelle Abrahams sing the praises of collagen power, I decided “why not”? I need to protect my “black from cracking”, anyway. I haven’t looked back since. As a result of the numerous health advantages linked to collagen consumption, the market for these supplements is growing quickly, with demand expected to rise by 6.4% annually globally. The number…

We are seeing growth in the South African shoe industry. The youth are trying to bridge the economic gap by starting sneaker lines. Joining the likes of Theo Baloyi and Lekau Sehoana is Kabelo Selekolo, 32, an entrepreneur from a small village in North West called Molorwe, who started as a multimedia designer and ventured into entrepreneurship. His entrepreneurial journey started when he was 10 years old. His aunt had a mini tuckshop, selling drinks and snacks, and when he was in Grade 9, they gave him a family camera to make money during a school trip, and the rest is history. Many years later, the Tshwane University of Technology graduate goes back to his passion and uses multimedia skills to design his new sneaker brand, Mswenko. “As a…

DESPITE many describing the national shutdown on Monday as a success, more than 500 people were arrested for various criminal activities. The day, organised by the EFF and joined by other formations, including the PAC, APC, Land Party, ATM, Areta and Saftu, was led by the Red Berets. Demonstrations were held in several cities, with thousands calling for President Cyril Ramaphosa to step down and for an end to load shedding. Although there was minimal violence in some parts of the country, especially in the Pretoria CBD, the economy took a knock, with about 90% of businesses closing, some for fear that their shops would be looted. In some areas, it was business as usual, while others were ghost towns. The protesters accused Ramaphosa of failing to govern the country…

THE long-overdue construction of Solomon Mahlangu Drive in Mamelodi is finally taking shape, four years after its inception and numerous interruptions. Gauteng Premier Panyaza Lesufi reiterated that progress was being made to complete the R300 artery, which has experienced delays due to the Covid-19 lockdown and community-motivated interruptions. MEC for Roads and Logistics, Kedibone Diale-Tlabela, recently lambasted the contractor for failing to deliver the road last year. Some workers were seen working on Monday amid the EFF national shutdown. Lesufi said it was now time for less talking and more working when it came to the road, which was under expansion to smooth the traffic flow to and from Pretoria. The road experiences high traffic during peak hours, hence the need to expand, especially towards Nellmapius, where it may have…

IN THE ONGOING battle to get rid of unsafe toilets, Section27 and the Centre for Child Law will on Friday launch an online accountability tool, to monitor progress to eradicate pit toilets in Limpopo schools. The Michael Komape Sanitation Progress Monitor, named after the 5-year-old pupil, Michael Komape, who drowned in a pit toilet at his school in Limpopo in 2014, will be launched at the Human Rights Festival, at Constitution Hill. As part of the festival, Section27 will also host an exhibition to commemorate the life of Michael, which will run until Saturday. The legal battle for safer toilets had been ongoing with the high court in Limpopo, who in September 2021 ordered that the Department of Education provide a list of schools with pit toilets and other inadequate…

An avid surfer, Scott Robertson knows a thing or two about riding waves, but coaching the All Blacks may end up the most daunting of his career, with a big wipe-out almost guaranteed without sustained success. The job comes saddled with the expectations of a nation that lives and breathes the sport, and a public quick to demand heads roll when results fall short on the field – as current boss Ian Foster knows all too well. Five months shy of the World Cup, Foster has already been deemed unfit to continue in the role after the global showpiece – even if the All Blacks win it. Despite guiding New Zealand to both Rugby Championship titles since taking over in 2019, Foster lost public support after their first home series…

Formula One champions Red Bull are in a league of their own, but once-dominant Mercedes can see big gains ahead after going back to the drawing board with their car. Speaking to reporters at last weekend’s Saudi Arabian Grand Prix, team principal Toto Wolff said he would have no shame if the revamped car ended up resembling a Red Bull – as long as it was quick. “We are just storming full steam ahead now and changing things,” said the Austrian. “We are making really big steps at the moment with our R&D, with our understanding in the (wind) tunnel … That is really big steps, because we just needed to have the confirmation in Bahrain that we got it wrong. “I think if we continue to do the big…

The Stormers are keeping their Springbok trump cards close to their chests ahead of a monster United Rugby Championship (URC) clash with Leinster in Dublin on Friday (9.35pm kick-off). Although one can deduce that Boks like captain Steven Kitshoff and Frans Malherbe (props), utility back Damian Willemse and lock Marvin Orie have travelled with the defending URC champions to Ireland, the Cape franchise are trying to keep their involvement in this specific game at the RDS Arena a secret. No squad was announced before their departure on Sunday, and they also did not make the names available this week. Even forwards coach Rito Hlungwani could not divulge whether the Springboks are indeed in camp, although he alluded to the fact that it’s very difficult to lie, with a big smile…