Innholdsfortegnelse for 2023-05-10 i Pretoria News

EQUITES Property Fund, the JSE-listed real estate investment trust (Reit) focused on the fast-growing logistics sector, is considering selling its UK R44 billion development pipeline after rising interest rates resulted in its property values there falling by a hefty 21% in the past year. The share price responded, falling 8.93% to R13.94 by midday yesterday, and closed 7.23% lower at R14.24 on the JSE, well down from R20.22 that it traded at a year ago. It was also disposing of non-core South African and UK assets to unlock capital and fund its development pipeline, and has shifted its focus to the local market. “Given the change in market fundamentals in the UK, Equites has noted its primary geographic focus for acquisitions and developments will shift to South Africa where…

KAROOOOO, a Nasdaq and JSE-listed distributor of mobility asset management solutions, has reached an agreement with BMW and Mercedes-Benz in Europe to fit vehicles with telematic equipment, and another five to six vehicle manufacturers might be signed up in the new financial year, CEO and founder Zak Calisto said yesterday. Interviewed at the release of Karooooo’s results yesterday, he said the equipment was required to comply with EU legislation to monitor driving safety such as not driving continuously for more than four hours at a time. “Many other companies are working hard to be able to supply the right equipment, but we have so far been the only company that has the equipment that complies with EU standards,” he said. He said financial benefits from these agreements may take a…

AGRICULTURE organisations yesterday criticised the Budget speech by Land Reform and Rural Development (Dalrrd) Minister Thoko Didiza, saying it fell short of addressing the real economic challenges and the issue of load shedding on farmers, while failing to address food security. Delivering her budget vote, Didiza said multifaceted challenges had hindered the ability of traditional agricultural areas, known before as the reserves, to thrive. “In this financial year we make a case for investment in these areas following the analysis that has been done by our spatial planning unit and the economic team from the National Agricultural Marketing Council. “Through their work it is clear that if we restore even a mere 10% of this land by putting it back into production we can increase the real gross domestic…

AWARD-WINNING musician and producer Themba Sekowe, aka DJ Maphorisa, has been granted bail of R4 000 after he was arrested for allegedly assaulting Thuli Phongolo, who he’s been rumoured to be dating for the past year. Spokesperson for the National Prosecuting Authority (NPA) in Gauteng, Phindi Mjonondwane, said Sekowe was charged with assault with intent to cause grievous bodily harm when he appeared in court on Monday. “Themba Sonnyboy Sekowe aka DJ Maphorisa appeared in the Randburg Magistrate’s Court (on Monday) on charges of assault with intent to cause grievous bodily harm,” Mjonondwane said. “It is alleged that on Sunday, May 7, the accused (Sekowe) assaulted his girlfriend, Thulisile Phongolo by hitting her with open hands and strangling her after she confronted him about an incident that happened the previous…

WASTE collection is not simply digging in dirty trash bins and sorting out rubbish; it is a way of making a living while ensuring a clean community. Driven by this belief, a KwaZulu- Natal woman gave up her day job to scratch around for waste. In 2014, Nokubonga Mnyango quit as a driver-cum-admin clerk at a wood chipping mill in Richard’s Bay for what some community members described as “digging in dirty dustbins”. Today, she runs two thriving buy-back centres in Empangeni, employing 22 full-time staff and supporting 100 waste collectors in the community. Her hard work and passion for recycling have been recognised by South Africa’s longest-standing producer responsibility organisation, Petco, that has on behalf of its members, supported her journey from wastepreneur to buy-back centre owner. Mnyango now…

THE Directorate of Priority Crime Investigations (DPCI) said yesterday that former Eskom CEO Andre de Ruyter had furnished his corruption report on the power utility after he went public with his allegations in a television interview. Briefing the standing committee on public accounts’ (Scopa) inquiry into allegations made by De Ruyter about cartels, syndicates and the implication of senior politicians, DPCI head Godfrey Lebeya said there were three investigations linked to De Ruyter. Lebeya said the one case related to the alleged poisoning case in which De Ruyter was a complainant; and his alleged failure to lodge a Section 34 report in terms of the Prevention and Combating of Corrupt Activities Act (Precca) lodged by Build One South leader Mmusi Maimane. He also said a Precca report was submitted on…

If the Stormers get over the Connacht hurdle on Saturday, their path to the United Rugby Championship final could be easier whether they play Leinster away or Munster at home. And this prospect is exciting for the defending URC champions, but they know the focus will first be on beating Connacht on Saturday in the semi-final (4pm kickoff) at Cape Town Stadium. Should they have to travel to Dublin for the final, they will face a Leinster team who has had four tough games in a row. They faced Toulouse in the semi-finals of the Champions Cup, the Sharks arrived for the URC quarters, they play Munster this weekend in the semis of the URC and then La Rochelle await in the Champions Cup final at Aviva Stadium next Saturday.…

This is likely to add pressure on the grid and further elevate the risk of load shedding ESKOM looks set to continue struggling to keep the lights on as it has pushed the deadline for returning Unit 1 at the Koeberg nuclear power station by at least a month-and-a-half amid delays on the life extension project. This became apparent yesterday when Eskom told Parliament that the current delay to return Koeberg online was around 45 days. This will likely add pressure on the grid and further elevate the risk of load shedding in the winter months as electricity demand increases in the absence of 920MW generated from Unit 1 Koeberg, an equivalent of one stage of load shedding. Eskom is already averaging stage 6 load shedding every week, and…

SIBANYE-Stillwater has flagged South Africa’s worsening energy crisis and an increase in organised crime as occasioning an increasingly uncertain operating framework that has further been compounded by a plunge in its platinum production despite its gold operations swinging back to profit- ability. Electricity supply challenges hammered Sibanye-Stillwater in its South African and Zimbabwean operations during the quarter to the end of March. The company, just like other South African corporates, is now investing heavily in alternative power supply solutions. “There are no immediate solutions to improve national energy security in South Africa. We are pursuing self-generation projects that will improve the security of energy supply. The economic and operating outlook remains challenging and uncertain,” Sibanye-Stillwater said in a March 2023 quarterly trading update yesterday. The deteriorating “quality of public…

King Charles reportedly toasted his grandson Archie “wherever he was” at a private family gathering after his coronation. The newly crowned monarch, 74, has barely seen his grandson, Prince Harry’s child, since he was born. He is said to have used a celebration at Buckingham Palace to pay tribute to the youngster on Saturday, after his coronation. A source told Mail Online that even though most members of the royal family had “breathed a sigh of relief” that Harry, 38, was not at the party, Charles appeared “genuinely quite disappointed” at his absence, with his son leaving the UK after the coronation in Westminster Abbey, London, to jet back to LA to mark Archie’s fourth birthday. The insider said the king made a point of toasting “those that weren’t there”…

CITY of Tshwane mayor Cilliers Brink has promised to get the embattled capital’s finances under “control”. Brink, who took over the mayoral chain in March through a coalition government, also vowed to respond to concerns of the auditor-general (AG). The municipality had been without a mayor since February. Earlier this year, Auditor-General Tsakani Maluleke painted a grim picture of the metro’s finances, saying it had serious irregularities. The AG also found that the City failed to submit correct financial statements for the July 2021 to June 2022 financial year. Randall Williams was mayor at the time. Now Brink has prioritised solving the municipality’s financial woes. He was speaking on the sidelines of a packed PSG Wealth Management business breakfast in Pretoria yesterday. “We need to get control of the city’s…

MINISTER of Tourism Patricia de Lille says BRICS countries constitute the largest trading partners in Africa and the most significant new investors. Speaking at the African Dialogue on Tourism, De Lille said countries like China, India, and Brazil have a massive emerging middle class ready to explore South Africa and the continent. She highlighted that, together, the BRICS contribute nearly 31.5% of the global GDP. “The significance of South Africa's participation in BRICS is enormous for Africa and underpins our commitment to participate in the continent’s development, building a better Africa and a better world. Growing tourism is one of the focus areas for the BRICS,’’ De Lille said. Brazil showed the highest increase in volume for the first three months of 2023, more than any other Central and South…

STEINHOFF International’s creditors will be feeling that bit more secure after the troubled company yesterday said it had sold its subsidiary, Mattress Firm, to Tempur Sealy International, for $4 billion (R73.34bn). Mattress Firm is a speciality bed retailer in the US, with more than 2 300 retail stores nationwide. Tempur Sealy and Mattress Firm's combined global footprint will include about 3 000 retail stores, 30 e-commerce platforms, 71 manufacturing facilities, and four state-of-the-art R&D facilities worldwide. In 2017 Steinhoff made headlines for accounting fraud in what was said to be South Africa’s biggest corporate fraud. The company, which is technically insolvent with a R1bn market value, has subsequently been forced to sell off assets to settle billions in rand of claims. The troubled retailer’s shares closed 8%…

IN A BID to assist manufacturers to increase their capacity and improve their competitiveness, the private sector in partnership with Minister of Trade, Industry and Competition Ebrahim Patel launched the Localisation Support Fund (LSF) yesterday. The LSF describes itself as a non-profit company funded by the private sector, and it is focusing on localising manufacturing in South Africa by unblocking challenges in the sector. The LSF’s goal is to contribute to the reduction of imports, promotion of competitiveness, and increased capacity of manufacturers to produce optimally mainly for exporting. The LSF’s mandate is to partner with stakeholders in the industry to facilitate interaction between manufacturers and buyers (supply and demand participants). It provides funding for industry research and the deployment of technical experts to unlock challenges and accelerate opportunities for…

THE Senzo Meyiwa murder trial yesterday had to be postponed to today, as the Zulu interpreter did not pitch at court yesterday. Defence advocate Chartles Mnisi was due to start his cross-examination of witness Mthokozisi Thwala. This is the second week that Thwala, said to be the former soccer star’s best friend, is in the witness stand. He faced a severe grilling on Monday from defence advocate Sipho Ramosepele, who told Thwala that his version of the events of October 26, 2014, when Meyiwa was shot and killed, simply did not make sense. Ramosepele especially frowned upon Thwala’s version that Longwe Twala, son of musician Chicco Twala, who was in the house at the time, managed to flee during the incident. According to Thwala, Longwe jumped up and pushed one…

A group of organised traditional healers in partnership with the alcoholic beverage Castle Milk Stout have called on the government to officially recognise Ancestors Day, marked on May 8. The third edition of Ancestors Day was celebrated with festivities including live music from Afropop sensation Berita and the beats of Phila, rhythmic poetry, and a lecture on African spirituality by Bishop Joshua Maponga. Gogo Dineo Ndlanzi, a spiritualist and traditional leader, said it was amiss that Africans in South Africa, which is home to the cradle of humankind, have to validate the commemoration of Ancestors Day. “The essence of being African is understanding the role that ancestors play in our lives. Ancestors Day is not exclusive to a certain group of people or those practising a particular traditional belief system.…

All is still to play for in the Premier League with the title race, battle for the top four and relegation fight set to go to the wire. Arsenal’s 2-0 win at Newcastle United kept the pressure on Manchester City at the top. Newcastle’s defeat and Manchester United’s 1-0 loss at West Ham United means the race for the top four is back on thanks to Liverpool’s six-game winning run. Meanwhile, at the bottom, Leicester City and Leeds United fell into the relegation zone as Everton and Nottingham Forest secured vital wins. Here, we look at the key talking points from coronation weekend. Gunners refuse to go quietly Arsenal’s four-game winless run that culminated in a 4-1 thrashing at City last month led many to call the title race a…

THE irony would not be lost on the discerning soccer follower that Marumo Gallants’ nomadic ways in their Caf Confederation Cup campaign is a mirror image of the route Jomo Cosmos took on their “African safari” 30 years ago. And they would thus be forgiven for fearing the worst for the Limpopo side as they go into the semi-final first leg of the continent’s second-tier club competition this afternoon. Gallants take on Tanzania’s Young Africans at the Benjamin Mkapa Stadium in Dar es Salaam this afternoon (3pm kickoff) looking to go one step further than Ezenkosi did in the Caf Cup Winners’ Cup in 1993. Like Cosmos, Gallants have played their home matches at different venues this year as they defied the odds to reach the semis. And similarly, the…