Indholdsfortegnelse for NM-2021-04-22 i Mercury

EDWARD WEST edward.west@inl.co.za ZAK CALISTO, founder and chief executive of Karooooo, was scratching his head in puzzlement yesterday after the shares debuted on the JSE by trading at about a 90 percent discount to the Nasdaq price, before correcting. The South Africa-based international fleet and asset-tracking software company started trading at R59 a share in thin volumes on the JSE yesterday morning, but moved to R441 after midday. The share trades at around R500 on Nasdaq. The company has its primary listing on Nasdaq and a corresponding inward listing on the JSE, following a delisting and restructuring of Cartrack. Calisto said he was not sure why the share had traded at such a deep discount initially, possibly some shareholders were dumping shares for reasons unknown, there was some technical…

The group sees this as a significant first step on a journey to help investors make more informed choices OLD MUTUAL Wealth is the first Linked Investment Service Provider in the South African investment industry to publish the Environmental, Social and Governance (ESG) ratings of its own locally domiciled unit trusts. The Old Mutual Wealth ratings were developed through a collaboration with MSCI, a global leader in investment research, in response to a growing demand for more transparency and a greater variety of sustainable investments. “We’re very excited about collaborating with MSCI to produce ESG ratings for the Old Mutual Unit Trusts funds on our platform,” says Farhad Sader, managing director of Old Mutual Wealth. “Responsible investing is a core value that has long underpinned the investment philosophy and process…

SOUTH Africa was ranked 110 out of 115 countries in the World Economic Forum’s Energy Transition Index published this week, reflecting the slow progress towards a sustainable and affordable energy system. The 2021 edition of the report, titled Fostering Effective Energy Transition, ranked 115 countries according to their readiness for a just transition based on economic development and growth, energy security as well as environmental sustainability. Sweden led the rankings, followed by Norway, Denmark and Switzerland. Among the world’s top economies, only the US and Italy featured in the top 10 ranked countries while China was ranked at 68. The term just transition is commonly defined as the move towards an environmentally sustainable economy while contributing to the goals of decent work for all, social inclusion and the eradication of…

Vernon Mchunu vernon.mchunu@inl.co.za THE DA’s poor handling of the qualification scandal involving its senior leaders has reinforced the perception that the party was determined to stifle the prospects of its black leaders. This is the view of political analyst Professor Bheki Mngomezulu, a senior lecturer at UWC. DA leader in the Western Cape Bonginkosi Madikizela admitted to not having completed a BCom degree, as stated in his CV. He subsequently stepped down as DA leader and has been suspended as transport MEC in the province, pending a provincial government and DA internal investigation. Mngomezulu said if the DA had pinned its hopes of growing the party on the black majority electorate, it was now clear this dream had been shattered. “There is clearly differential treatment of cases involving a black…

ELMA RABE | DA KZN spokesperson on Social Development THE DA is relieved to see that the probe by the Special Investigating Unit (SIU), into the KwaZulu-Natal Department of Social Development (DSD) “blanket-gate” issue, is finally reaping some rewards. This after a media report recently which confirmed that a company will be made to pay back R864 005 after being irregularly awarded a contract to the value of R4.9 million. While this is a step in the right direction, one has to ask what this department – and provincial government as a whole – plan to do about their business relations with this company, not to mention the other three earmarked for investigation as part of this saga. Insisting that these companies pay back profits is not enough.…

THYAGARAJ MARKANDAN | Kloof THIS is a contrarian view, bordering on heresy and is bound to raise the ire of many. Nevertheless, I feel it is important to express it, however skewed and controversial it may be. I have been mulling over it for a long time, afraid to air it for fear of being labelled a madcap with no human empathy. When the Covid-19 pandemic broke out and wreaked havoc around the world, a weird notion entered my head. Is the virus as bad as it is made out to be? Yes, it was an unprecedented event, bringing the world to a standstill, wrecking global economies and killing more than 3 million people. The virus posed a serious challenge to medical science and governments. Scientists and laboratory…

After years studying the icy waters of the Southern Ocean with floating robotic monitors, a consortium of oceanographers and other researchers is deploying them across the planet, from the north Pacific to the Indian Ocean. The project – known as the Global Ocean Biogeochemistry Array, or GO-BGC – started last month with the launch of the first of 500 new floating robotic monitors containing computers, hydraulics, batteries and an array of sensors that scientists say will relay a more comprehensive picture of the ocean and its health. “The ocean is extremely important to the climate, to the sustainability of the Earth, its supply of food, protein to enormous numbers of people. We don’t monitor it very well,” said Ken Johnson, GO-BGC’s project director and a senior scientist at the Monterey…

Lorna Charles lorna.charles@inl.co.za A civiL society organisation has called for government to grant more time for the public to comment on the Covid-19 Vaccine Injury No-Fault Compensation Scheme. The regulations for the scheme were released for public comment by Dr Nkosazana Dlamini Zuma, Minister of Co-operative Governance and Traditional Affairs (Cogta) , on April 15 with the closing date for comments on April 19. Rob Hutchinson, managing director of civil society organisation DearSA, said they had requested an extension for comments to May 10 as they understood the importance of the matter. He also said the organisation took issue with the scheme being housed under the Disaster Management Act regulations. “We don’t know how long this scheme will operate, don’t know how long the pandemic will be around,…

Isaac Shai Law played a decisive role in the dispossession and oppression of African people in South Africa. In post-apartheid South Africa, law was once again poised to play a central role as an instrument for radical transformation. The Constitution is regarded as a lodestar that guides the process of transformation. However, it appears there are fundamental questions that as a country we either forgot to ask, or took for granted. One critical aspect that is scarce, particularly in public discourse on the nature and trajectory of our constitutional democracy, is the tension between transformation and “the deeply entrenched attitudes towards and thinking about what the ‘The Law is’, how it works and its function in the legal system and society”. The majority of legal scholars, legal practitioners, judges and…

COMMENT BY MIKE GREENAWAY mike.greenaway@inl.co.za At one point there was the possibility of South Africa’s Rainbow Cup teams basing themselves in Croatia – the players wouldn’t have minded a resort on the sunny Adriatic Sea one bit — such was the range of options the organisers exhausted before finally admitting defeat. No fewer than 16 venues across the UK, Ireland, Europe, and even the Middle East were considered as base camps for our teams but all were ultimately kicked into touch by a persistent pandemic, and one that on a sporting level has sentenced South African teams to pariah status. Of course everybody was desperate to see intercontinental rugby competition, especially governing rugby bodies close to perishing from lack of broadcasting revenue, but also coaches and players growing stale from…

RENERGEN has entered into an agree- ment with DPD Laser for the manufacture and purchase of the first 110 Cryo-Vacc cases, following the launch of its Cryo-Vacc storage solution. DPD Laser is one of South Africa’s leading express courier companies that has been serving South Africa for more than 30 years. Renergen said yesterday that the key terms of the agreement are a fixed purchase of 110 Cryo-Vacc cases in a combination of all three sizes and the Cryo-Vacc cases will be delivered in May. The agreement has been completed ahead of the launch of Phase 2 vaccination programme for South Africa and Renergen has commenced construction of the 110 Cryo-Vacc cases for delivery to DPD Laser, which is expected to be completed by the end of May. Renergen chief…

INTEGRATED facilities management company Servest has signed a Memorandum of Understanding (MoU) with eThekwini Maritime Cluster (EMC) that would enable both parties to expose unemployed graduates to the maritime industry by re-skilling and upskilling talented graduates to bridge the skills gap in the sector. Despite South Africa having a vibrant maritime industry, professional skills in many areas of the sector were in short supply, with many skills being limited to unskilled areas, a statement said yesterday. A study by Nelson Mandela Metropolitan University found that the oceans economy had the potential to create about 316 000 jobs and contribute R5 billion to the country’s GDP. In terms of the agreement, the EMC would be responsible for recruitment and selecting graduates who would be upskilled. The areas of potential…

Sandile Mchunu sandile.mchunu@inl.co.za QUILTER plc yesterday reported a 26 percent increase in assets under management and administration (AuMA) in the first quarter to the end of March, boosted by improved net flows, positive investment performance and markets. The UK-based wealth manager saw its AuMA climbing to £119.9 billion (R2.39 trillion) during the quarter, up from £95.3bn compared with the same quarter last year, and up 2 percent compared with the quarter to the end of December. Chief executive Paul Feeney said he was delighted with the significant improvement in both their gross flows and net flows in the first quarter of this year, with the UK business, excluding Quilter International, delivering annualised net client cash flow of 5 percent of opening AuMA 2021, led by…

Sakhiseni Nxumalo sakhiseni.nxumalo@inl.co.za THE KwaZulu-Natal provincial government is working with the family of former rugby player Lindani Myeni, who was shot dead by police in Hawaii last week, to repatriate his remains from the US. Premier Sihle Zikalala said interactions between the KZN Office of the Premier, the Department of International Relations and Co-Operation (Dirco) and the consul-general in the US regarding the repatriation process were taking place. Myeni, the KZN-born former George Campbell Technical High School pupil was shot dead by Honolulu police in Hawaii last Wednesday night. He had moved with his wife, Lindsay, and children to the island early last year. The 29-year-old was shot when police said they were responding to a home burglary incident. It is not clear what Myeni was doing outside the home.…

Thami Magubane thami.magubane@inl.co.za MORE than 1 000 schools across KwaZulu-Natal are operating without school principals and other senior managers who are critical for the proper functioning of educational institutions. A report on vacancies by the provincial Department of Education shows that across all districts there are 1 082 vacancies for principals, 283 for deputy principals and 617 for heads of department, bringing the total to 1 982 vacancies. The figures ware revealed by the provincial department yesterday. The revelation has angered opposition parties who argued that the situation places pressure on already overburdened teachers while compromising the quality of education. A school principal said having a permanently appointed principal was critical to the functioning of a school, he said a full-time appointee commanded the respect of the staff and…

KEVIN GOVENDER | Shallcross When I saw UCT’s library being gutted by a runaway mountain fire and sheets and sheets of rich South African history going up in smoke, I was taken back to April 15, 2019, when the world-famous Notre-Dame de Paris was gutted by a raging fire as a stunned France and the world watched on TV. Two years on, the cathedral, a Gothic 850-year-old icon is being restored at a cost of e160 million. Fast forward – let's take a flip from Cape to Cairo. Egyptians, and indeed the world, recently witnessed the historic procession, in custom-made vehicles to withstand vibrations of their countries ancient rulers, also referred to as the mummies. The lavish and high-falutin spectacle saw 22 mummies – 18 kings and 4…

“THEY don’t know they’re small” – that was the comment of a Californian woman whose two little terriers, Squirt and Mei Mei, chased out a brown bear that had wandered into her Pasadena home looking for a snack. Deedee Mueller was napping in the next room when the bear wandered in as if it owned the joint, according to Huffington Post. The dogs’ furious barking woke her up and the bear widdled with fright as it high-tailed its way out of the house: “Thank God we have these two fierce dogs protecting us,” Mueller wrote on Facebook with a laughing emoji. In response to a comment about the size of her dogs, she added: “They don’t know they’re small.” Yes, that’s terriers for you. They’ll tackle anything. We’re not told…

For the family of George Floyd, the murder conviction of the former police officer who killed him was a confirmation of something they knew but feared the justice system might never validate: that their loved one’s life mattered. “Today, we are able to breathe again,” Floyd’s younger brother, Philonise, said during a news conference in Minneapolis after the verdict was released. “Justice for George means freedom for all.” After Derek Chauvin, who killed Floyd with a prolonged knee to the neck last year, was convicted of second-degree unintentional murder, third-degree murder and second-degree manslaughter, Floyd’s family members hugged one another tightly and shed tears of joy. The sense of relief was palpable as the group gathered in a down town Minneapolis hotel for a post-verdict news conference that doubled as…

Mayibongwe Maqhina mayibongwe.maqhina@inl.co.za THE state-owned Transnet National Ports Authority (TNPA) has set aside “sufficient funds” for the relocation of the institution’s headquarters in Gauteng and the satellite office in KwaZulu-Natal. Public Enterprises Minister Pravin Gordhan said this in response to parliamentary questions from DA MP Michele Clarke, who enquired about the costs of moving Transnet’s head office from Johannesburg and KwaZulu-Natal to Gqeberha (Port Elizabeth. Clarke also wanted to know whether any consultation was done with the relevant sectors and staff in order to proceed with the move. TNPA is in the process of relocating to the Port of Ngqura in Gqeberha with some personnel already relocated in a move expected to save the freight utility R25 million in lease agreements. In his written response, Gordhan said the information he…

IT’S ironic that Public Enterprises Minister Pravin Gordhan, who hides behind state capture whenever he is asked to account, is now having to defend himself against claims of attempting to meddle with the judiciary. That Gordhan had asked Chief Justice Mogoeng Mogoeng about how his friend Judge Dhaya Pillay performed during 2016 interviews for vacant posts at the Supreme Court of appeal, is too serious to be ignored. “He (Gordhan) came, I do not have a clear recollection of what the purpose of the meeting was, but what stuck to my mind and left me puzzled was the following: he asked me how did my friend Dhaya Pillay perform? “Why did the honourable minister make an effort to meet me? We are not friends. Why did he seek an audience…

RUSSIAN President Vladimir Putin warned the West yesterday not to cross Russia’s “red lines”, saying Moscow would respond swiftly and harshly to any provocations and those responsible would regret it. At a time of acute crisis in ties with the US and Europe, with Russian troops massed near Ukraine and opposition leader Alexei Navalny on hunger strike in jail, the Kremlin leader used his State of the Nation speech to project a message of Russian strength and defiance in the face of outside threats. “We want good relations … and really don’t want to burn bridges,” Putin told both houses of parliament. “But if someone mistakes our good intentions for indifference or weakness and intends to burn down or even blow up these bridges, they should know that Russia’s response…

MIHLALI BALEKA mihlali.baleka@inl.co.za It won’t come on a silver platter for the South African Under-23 men’s team, but they will know that they can’t afford to fall at the first hurdle of the Tokyo Olympics like the teams of 2000 and 2016 did. The South Africans were yesterday drawn in Group A for the Olympic football tournament alongside hosts Japan, Mexico and France. The Japanese have qualified for the last six editions of the Games, with their best finish being semi-finalist nine years ago. Their disappointment of a fourth-place finish in London was due to eventual winners Mexico, who have qualified for the tournament on six occasions since 1992 – despite being bundled out of the group stage at the last edition in Rio. France, though, are the underdogs in…

eshlin vedan A peach of a goal from Nduduzo Sibiya helped Lamontville Golden Arrows to a 1-0 away win over SuperSport United at the Lucas Masterclass Moripe Stadium last night. Latching onto a pass from utility player Knox Mutizwa, Sibiya slotted home beyond the reach of Matsatsantsa stand-in keeper George Chigova, who started the game in place of the injured Ronwen Williams. It is quite evident that SuperSport coach Kaitano Tembo will have to look for a new striker at the end of the season. Matsatsantsa once again had to make do without the injury-prone duo of Bradley Grobler and Thamsanqa Gabuza and this clearly reflected by their lack of venom upfront. When the duo are available, SuperSport can give any side in the league a serious run for their…

HAMMERSON had reached agreement on the portfolio sale of its seven retail park assets to Brookfield for £330m (R6.57 billion) cash, representing an 8 percent discount to the December 31, 2020, book value of £357m. The transaction concluded Hammerson’s exit from the UK retail parks sector, a statement said yesterday. Hammerson also recently disposed of Brent South Shopping Park and its minority interests in Nicetoile and Espace Saint Quentin, which were sold in line with December 31 valuations. The transaction with Brookfield took total gross proceeds of Hammerson’s disposals in 2021 to £403m at an average discount to December 31 valuations of 6 percent. The proceeds would further strengthen Hammerson’s balance sheet, reduce debt, which was £2.2bn at Decem- ber 31, and increase liquidity, which stood at £1.7bn…

Sihle Mavuso sihle.mavuso@inl.co.za IN a move that has been on the cards for days, former president Jacob Zuma yesterday parted ways with his high-powered legal team. The split, which Independent Media understands was amicable, comes just weeks before Zuma is expected to return to the Pietermaritzburg High Court to face his corruption trial which emanates from the multi-billion arms deal of the late 1990s. Announcing their split from Zuma, Eric Mabuza, of Mabuza Attorneys, in Joburg wrote to the court. But Mabuza, who was Zuma’s instructing lawyer, did not give any reasons for their withdrawal in the letter and refused to discuss the matter when asked about it. “Be pleased to take notice that Mabuza Attorneys hereby withdraw as the attorneys of record for Accused No 1.…

IT’S common in families with adopted children to celebrate “gotcha days”. I do not recall the dates of my sons’ “gotcha days” and nor do we celebrate the dates. Birthdays, of course, “gotcha days”, no. I could rummage through our boxes of bonds, bank statements and insurance policies to uncover their adoption papers if I wanted to, but I don’t want to. “Gotcha day” is a “lostya day” for birth parents. Celebrating a “gotcha day”, at least to me, trivialises something so profoundly sacred and sad for some. I will not be looking for my sons’ “gotcha” dates. I love our home but I don’t celebrate the day I signed the papers. I sit by the fireplace or enjoy my writing room or sit and read in one of several…

JEAN MICHEL BOUVIER | Bryanston AS WE approach another anniversary this month, to mark when the current administration took over from apartheid, we see the results of what has happened to the country. The excesses of fraud and corruption and the clueless governing ANC has looted the country on an industrial scale to its moribund state. The ANC has metamorphosed from the shining light of the Oliver Tambo years to its current sorry state. The party’s main purpose, motivation, desire and goals are not to advance their people but to plunder, pillage, loot and ransack the country and its resources, by the few who hold the levers of power. Not a day goes by, without the revelations of more blatant theft, lying, graft, embezzlement and corruption. This…

EBRAHIM “EBKOYBIE” ESSA | Durban MANY great legends have been written about the Grey Street Complex of yesteryear, with its numerous gulleys, outfitter stores, arcades and cinemas. But lest we forget, although spawned and propelled by satanic apartheid, there were some other spaces that gave Indians great pleasure, entertainment and exciting moments. The thought of evil, general segregation and the specific one that blocked out black people from even minutely enjoying many of the relatively interesting areas, does make it embarrassing for the average Indian to recall and recount selective past privileges. But history is unchangeable and for the sake of posterity, there is probably no harm in describing some of those exciting moments. Just around the corner from the Grey Street Complex, which resembled Mohamedally Road in…

mercury Reporter ONE OF the most devastating unintended consequences of the response to the Covid-19 pandemic in South Africa is the spread of hunger. Large numbers of people, estimated in the region of about three million, lost their jobs during 2020 and were added to the growing unemployment figures of the country. In a study conducted by Ipsos, on behalf of the Centre for Social Development in Africa based at the University of Johannesburg, it was found that almost half (46%) of adult South Africans agreed with the statement: “Adults and children in my household often had to go hungry during the Covid-19 pandemic, as we did not have enough money for food.” Fieldwork was conducted from November 19 to December 30 last year, with 3 469 face-to-face interviews of…

Sakhiseni Nxumalo sakhiseni.nxumalo@inl.co.za HAMMARSDALE residents whose homes were demolished by the eThekwini Municipality in February have started rebuilding them after claiming the city gave them the go-ahead to do so. Community members said the rebuilding process came after they held a meeting with city officials two months ago. According to the residents, an official from the city’s Human Settlements Department told them they could rebuild their houses because they should not have been demolished. In February, the municipality’s land invasion unit demolished more than 15 formal housing structures, and threatened to demolish more because they were illegal structures. However, the community said when they settled in the area in 2018, the land had belonged to a farmer. They alleged that the farmer sold the land to the municipality last year,…

It is with shock that the news of Absa Group chief executive Daniel Mminele’s resignation was announced in a press statement released by the bank. This comes as a major surprise to many in the finance and banking industry as Mr Mminele only served one year at the helm of one of South Africa’s top banks. Despite the agreement which was made for Mr Mminele to step down as chief executive of the Absa Board and group executive, the reason for this falls short of inspiring confidence in the sector and the bank’s transformational agenda. Some of the reasons made known to the public was that there was no alignment in terms of their strategy and culture between himself and the board; however, how was employed in the first place…

Chad woke up to an uncertain future yesterday as the son of slain president Idriss Deby Itno took charge. Itno had ruled the country with an iron fist for three decades. The presidency moved swiftly to put the reins of power in the hands of General Mahamat Idriss Deby Itno and tear up Chad’s constitution, establishing a “Transition Charter” that lays out a new basic law for the desert country of 16 million people. The new charter issued yesterday proclaimed that Mahamat 37, a career soldier like his father, will “occupy the functions of the president of the republic” and also serve as head of the armed forces. Mahamat had already been named the head of a military council on Tuesday soon after the announcement of Deby’s death in…

ZAAHIER ADAMS AmaZulu 0 Mamelodi Sundowns 0 BENNI McCarthy’s AmaZulu missed the chance to close the gap at top of the DStv Premiership table to just three points as they only managed to hold the league-leaders Mamelodi Sundowns to a 0-0 stalemate at Kings Park yesterday. The first half was a cagey affair as both teams adopted a tactical approach that hinged on the other making a mistake. There were a couple of chances that fell to Sundowns’ Thapelo Morena and Peter Shalulile, but neither could direct their shots on target. Thabo Qalinge endured the same misfortune for the hosts after the winger burst inside the box before over-hitting his strike at goal. However, the second half begun in complete different fashion as AmaZulu’s Augustine Mulenga cut through…