Indholdsfortegnelse for 2024-04-29 i Mercury

THE DEPARTMENT of Mineral Resources and Energy has recommended a massive drive towards more natural gas exploration projects, while simultaneously calling for the importation in the short term of liquefied natural gas (LNG) from neighbouring countries to address South Africa’s energy mix on the back of gas shortages. These are among the recommendations and conclusions contained in the long-awaited draft Gas Master Plan (GMP2024), gazetted for public comment on Friday by Mineral Resources and Energy Minister Gwede Mantashe. The draft plan is a policy instrument that seeks to ensure security of gas supply by diversifying supply options from both local and international markets. Its main objective is to diversify energy sources with the intention of reducing South Africa’s heavy reliance on coal, and to realise an effective energy mix while…

SOUTH Africa’s tough macroeconomic conditions are proving to be a challenge for the multinational mobility company, Bolt, as the crippling conditions are affecting the cost of living for both drivers and passengers. Bolt’s PR manager for Africa, Sandra Suzanne Buyole, told Business Report that they were aware that rising fuel prices were exerting additional pressure on drivers who used the Bolt app. “We are sympathetic to these challenges faced by drivers and our teams are constantly reviewing our prices to ensure drivers can operate profitably and provide great service to passengers,” Buyole said. The unaudited month-end data released by the Central Energy Fund (CEF) last week showed that the price of petrol could rise by around 36 cents per litre, while diesel was predicted to fall by about 30c.…

South African financial markets have to weather the storm that has pounded them over the past two months. Equity prices, the rand exchange rate, and bonds recovered strongly, as commodities – especially precious metal prices – remained elevated. The absence of load shedding has also played a role. The steady decline in oil prices, and inflation in the US, as measured by the change in personal consumption expenditures (PCE) and a drop in US bond yields, boosted share prices across the globe on Friday. Although the US PCE Price Index increased on an annual basis by 2.7% in March, up from 2.5% in February, beating the 2.6% that was expected, traders, analysts and economist still expect the US Federal Reserve will start to decrease interest rates during the second part…

LIBSTAR’S management expects consumer market conditions to remain challenging this year and its leadership team is focused on the group’s new strategic initiatives, says chairperson Wendy Luhabe. Writing in the food and grocery product group’s annual report released on Friday, she said they would oversee the portfolio and operating model simplification initiatives agreed on last year, cost competitiveness improvements would be targeted, while earnings quality and return on invested capital (Roic) would be improved through a divestment and consolidation strategy. The Household & Personal Care segment disposal process was progressing, and the intention was to improve Roic by 50 basis points once this had been completed. Interventions were under way at Denny Mushroom to improve earnings stability and to refocus the group’s portfolio to value- added food products. The board…

TRANSNET has remained optimistic about turning the corner on its operational, financial and governance challenges and fulfil its strategic role in the economy as it forges ahead with implementation of the second phase of its Recovery Plan. This as the struggling State-owned ports and rail logistics company began implementing its recovery plan in October 2023, with Phase 2 of the plan commencing on April 1, 2024. The core focus of Transnet’s recovery plan is to devise tactical initiatives that drive volume recovery and improve rail and port operations, with an emphasis on equipment availability, reliability and asset quality. A pivotal element is the improvement of maintenance planning and adherence to plans to resolve operational bottlenecks and equipment shortages. Transnet chairperson Andile Sangqu said on Friday they remained committed to…

South African-grown and harvested prickly pear seed oil is fast becoming a leading skincare ingredient. The cactus boasts a unique composition of vitamins, antioxidants and fatty acids that can do beautiful things for your skin, founder and purveyor of Afrika Botanicals Gary Scallan explained. He added that the unique and powerful skin benefits and growing popularity of the fruit oil has seen it declared as their 2024 “Oil of the Year”. Also known as the Opuntia ficus-indica, the prickly pear plant grows profusely in the Free State and Northern and Eastern Cape. The seeds are then harvested, dried, stored and cold-pressed. Scallan explained that extracting prickly pear seed oil requires immense amounts of the tiny seeds, due to their low oil content. “It takes approximately 1 000 to 1 500…

Minister of Defence Thandi Modise has warned that no incitement of violence, lawlessness, destruction of infrastructure, or barricading of roads will be tolerated during elections, set down for next month. Modise said anyone found to be in breach of the country’s laws will be dealt with accordingly. Addressing the media on the state of readiness for the elections in Pretoria yesterday, Modise warned that prosecutors are ready to prosecute offences such as electoral fraud and corruption, removing or defacing political party and campaign posters, interfering with the duties of the electoral officials, forcing anyone to vote. The 2024 national and provincial elections will be held on May 29. These elections take place against the backdrop of the country’s celebration of 30 years of democracy. Modise said that protocol has been…

ENOUGH is enough, the Gauteng High Court, Pretoria, said regarding the long delay in the fraud and corruption case against former crime intelligence boss Richard Mdluli and his two co-accused, which has dragged its heels for years. Judge Papi Mosopa has now ordered that the prosecuting authority must immediately obtain a date for the trial to proceed. Mdluli, who is fighting the refusal by the police to pay his legal fees, must also approach the Office of the Deputy Judge President for a date when his review application against the SAPS’ refusal to pay his fees can be heard. Judge Mosopa made it clear that the criminal trial would proceed, even if Mdluli’s review application had not yet been determined. The judge said that the review application had nothing to…

ARSENAL held on to beat battling local rivals Tottenham Hotspur 3-2 away and move four points clear at the top of the Premier League after an emphatic first-half display and a nervous second period in an electric derby atmosphere yesterday. An own goal by Pierre-Emile Hojbjerg and efforts from Bukayo Saka and Kai Havertz put the Gunners in control at half-time and, although Spurs fought back through Cristian Romero’s strike and a Son Heung-min penalty, the visitors claimed the three points. Victory moved Mikel Arteta’s Gunners further ahead of second-placed champions Manchester City, who have two games in hand and who visited struggling Nottingham Forest later last night. Liverpool are in third spot, a point behind City, but like Arsenal have played 35 matches with three games left. Tottenham’s defeat…

AmaZulu head coach Pablo Franco Martin has praised his side’s unrelenting spirit after their dramatic win over Chippa United. Usuthu boosted their top-eight ambitions with a hard-fought win over high flyers Chilli Boys on Saturday, reinstilling belief in a positive end to coach Martin’s debut season in South Africa. After going a goal down inside eight minutes, AmaZulu showed resolve in the second half to equalise, before Hendrick Ekstein scored a penalty in the 95th minute to secure all three points. The KwaZulu-Natal-based outfit have been on the wrong end of what they felt was poor officiating in recent weeks, which led to their elimination from the Nedbank Cup as well as their top-eight hopes taking a blow. AmaZulu’s 2023/24 campaign seemed to be going off the rails as they…

AGRICULTURAL analysts have re- mained optimistic that South Africa is not in a crisis, in spite of the damage to crops that occurred in February and March during the heatwave and the El Niño-induced dryness. The Agricultural Business Chamber (Agbiz) chief economist Wandile Sihlobo on Friday said that the recent drought presented upside risks to food price inflation, but not the overall basket. “The challenge is primarily the white maize, especially considering the potentially more robust regional demand later in the year,” Sihlobo said. “The favourable supplies of other grains in the world market, mainly yellow maize (also rice and wheat), and the moderating prices mean South Africa could be slightly cushioned in these commodities.” According to the April 2024 Household Affordability Index, the average cost of the Household Food…

LOOKING back at the mining industry in South Africa, one has to ask the question of “How much of the black southern Africa labour was exploited for at least 200 years by this industry?” In Lesotho and Transkei it took a particular cycle of its participants being selected out of a stock of people who would attend school up to possibly Standard Three, then go to the mountain where one qualified for manhood and by the age of 18 they are ripe to enrol for a mine. After four years of the routine they are ready to build a family and mining becomes their working life. Many contracted occupational diseases and got disabling injuries for life. Many had terminated contracts with benefits stuck in The Employment Bureau of Africa (Teba),…

For Bell Equipment, the cooling off from record highs after the epidemic of markets for heavy equipment and articulated dump trucks is an opportunity for the Richards Bay-based group to vigorously pursue opportunities in new and existing markets. Chairperson Gary Bell and CEO from January 1 this year Ashley Bell said in the group’s integrated report, released on Friday, that with supply chain constraints of the past two years also easing – the group sells machines in over 80 countries – they “anticipate a smoother year for production during 2024”. The order book for 2024 was at a reasonable level and total market demand volumes were expected to normalise, following the unprecedented record high experienced through 2023. More than 60 countries in the world were holding elections this year…

In a time when the world grapples with escalating health challenges, the spotlight turns once more to the foundations of well-being – nutrition and its sweeping impact on low-income communities. Nutrition, a seemingly simple element of our daily lives, holds the power to transform the three pillars of health: physical health, mental health and social well-being. Its importance in these areas, especially among those in economically disadvantaged situations, is both profound and indispensable. First and foremost, the role of nutrition in maintaining and enhancing physical health cannot be overstressed. In communities where resources are scarce, malnutrition or even the wrong kind of nutrition can lead to a host of health problems like obesity, diabetes and cardiovascular diseases. Good nutrition is our first defence against disease and our source of energy…

While it’s essential to have neutral tones in your wardrobe, it can be fun to add a bit of colour. By adding colour to your wardrobe, you can express your style and make a statement. Whether you prefer bold, bright hues or subtle, pastel tones, incorporating colour into your wardrobe can help you stand out and turn heads. Here are some tips on how to add colour to your wardrobe. If you’re new to experimenting with colour, start by incorporating small hints of colour into your outfits. This could be a brightly coloured accessory, such as a statement handbag or a pair of vibrant shoes. By starting small, you can gradually ease yourself into wearing more colourful pieces. Don’t be afraid to mix and match. Try pairing a bold red…

THE SA Municipal Workers’ Union (Samwu) in Gauteng has accused the City of Tshwane’s coalition government under the DA and ActionSA of politicising employees’ disciplinary procedures. This follows the suspension of five senior officials linked to the R295 million Rooiwal wastewater treatment plant tender irregularly awarded to businessman Edwin Sodi’s companies in 2019. The union said it was concerned by the vilification of workers by political parties in Tshwane regarding the Rooiwal saga. Gauteng provincial secretary Mpho Tladinyane said: “Moreover, the union condemns the unholy alliance between the DA and ActionSA, who have sought to politicise employee disciplinary procedures within the City. This move represents an overreach of authority and undermines collective bargaining in the sector.” Last week, municipal manager Johann Mettler announced the suspension of the five senior…

THE Lions have rubber-stamped their dominance of South African domestic cricket by winning the CSA T20 Challenge championship title at the Wanderers yesterday. Having already secured the CSA 4-Day Series trophy, the double was secured with a comfortable seven-wicket victory over the Dolphins. It was the second successive year the KwaZulu-Natal side have finished runners-up in the T20 Challenge after losing last season’s final to the Titans. The Lions, though, are fully deserving of the title as they have been the most consistent team in the competition after also topping the table after the group phase. Nobody epitomises the Lions’ consistency and class more than opener Reeza Hendricks. For the umpteenth time in his career, Hendricks played an innings of substance when his team needed it most with the opener…

Pained by defeat, Ivan van Rooyen insisted that despite what the scoreboard might have read on the night, Munster weren’t better than the Lions – smarter, for sure, but not better. The Lions lost 33-13 to the defending champions in their United Rugby Championship clash at Ellis Park, and to a certain extent, the Lions coach is not wholly incorrect in his assessment. Munster approached the match with a Test-match intensity. During the first 20 minutes, they barely threatened the hosts’ 22, but instead placed pressure on the Joburgers through the scoreboard. On Saturday night Munster did to the Lions what they had done against Leinster a week earlier. “You could feel them dictating the game,” said Van Rooyen after the match, “and once they got ahead, they just managed…

ROYAL AM 0 ORLANDO PIRATES (1) 4 Maswanganyi 29-pen, Mbatha 56, Mofokeng 74, Dlamini 82 Orlando Pirates are not giving up on a second-place finish in the DStv Premiership without a fight after winning their third game in a row yesterday afternoon. Pirates hammered Royal AM 4-0 at a packed Harry Gwala Stadium to remain third on the log and move three points behind the second-placed Stellenbosch. After Stellenbosch mauled Polokwane City 5-0 on Saturday, Pirates needed to win yesterday in Pietermaritzburg if they were to keep their top-two hopes alive. They heeded that call as they took the lead before the half-hour mark as Patrick Maswanganyi slotted home a penalty after he had been fouled. The decision from referee Christopher Kistoor was questionable, however, as replays showed that…

PALI LEHOHLA, the former Statistician-General of South Africa, on Friday slammed the lack of methodology and transparency around clients’ bank account closures. “All institutions have standards that must be communicated up front to their clients, particularly the banks, which are highly regulated,” he said in an interview with Business Report. He said banks had to ensure that clients were aware of their rights, and banks could not apply standards based on their own free will and decisions. Therefore, when it came to closing accounts, that had to be communicated up front as part of the regulatory environment and under what conditions bank account closures happened, and what the clients were entitled to by way of appeal. “It is a highly-regulated issue and these standards are global and if anyone says…

Parliament must probe “banking processes” into bank account closures as the debate gains traction. The argument has honed in on the metric of “reputational risk” and there are claims that South African’s rights are being violated. Reputational risk modelling is not currently transparent or fair, nor does it have a just mechanism of recourse. It is also not standardised globally. Worst of all, the metrics are applied unfairly leading to discrimination. The issue was highlighted this month after Nedbank’s 2023 Annual Report revealed it had unbanked nearly 200 people on this unquantified, undisclosed metric. Nedbank’s Pillar 3 Risk and Capital Management Report for the year ended December 31, 2023, revealed it is now considered as one of the bank’s top ten risks and has subsequently been included on its risk…

THE RECENT approval by Parliament of the Climate Change Bill signals South Africa’s moving to tackle the greatest threat to life. On Thursday, the National Council of Provinces concluded parliamentary deliberations on the much-debated Climate Change Bill, with unanimous support. Its adoption by political parties across Parliament is an important message that parties recognise the damage done to the planet and that life depends upon urgent action by humanity. Climate change is a real threat to workers, their families, communities and the economy. Its effects are being felt with the pollution in the coal belt of Mpumalanga’s towns and communities, claiming the lives of thousands of workers annually. We see it with increasing frequency during devastating floods across Gauteng and KwaZulu-Natal claiming the lives of many and leaving destroyed…

Labour union Solidarity has vehemently disagreed with the Minerals Council’s assertion that mineworkers in South Africa are among the best-paid industrial employees. Solidarity on Friday argued that mining bosses in the country were instead the highest paid in the world, at a time the sector was struggling. This comes after the Minerals Council, in its latest Mining Matters bulletin issued last week, said salaries in the mining sector grew by R12 billion to R186.5bn in 2023 compared to R174.2bn a year earlier. According to the council, the mining industry was one of the few economic sectors to grow employment, adding 7 600 jobs, providing work to more than 477 000 people and accounting for 4.7% of formal employment. “Over the past 15 years, increases in wages across…

Struggling utility says load shedding would be limited to Stage 2 but might have to be increased ESKOM has vowed to ramp-up the energy availability factor (EAF) to 65% by the end of the 2024/25 financial year as generation capacity improves, after missing the same target at the end of March this year. The struggling power utility presented its “state of the system” update and its winter outlook on Friday, with a base scenario that load shedding would be limited to Stage 2, but might go up to Stage 5 in the worst-case scenario. Eskom chairperson Mteto Nyati outlined the process that the Eskom board had embarked on, including consultations with various stakeholders within the government and business sector since it approved the generation operational recovery plan in March 2023.…

Lies allegedly told by the wife of alleged 28s gang boss Ralph Stanfield came under scrutiny in the Western Cape High Court last week amid a third attempt at freedom. While mom of two, Nicole Johnson, was not present at court for her bail appeal, legal teams argued head-to-head for and against her release. The notorious duo were arrested with Johannes “Bal” Abrahams, Denver Booysen and Jose Brandt last year on various charges allegedly linked to a manhunt and attempted murder of a former employee. During the explosive bail hearings late last year, it was revealed the former employee of Stanfield had allegedly stolen over R1 million from the couple. The former employee, now a State witness, had not arrived at work on November 24, 2022, after a tip-off that…

The national Department of Health has revealed that government mortuaries across the country are saddled with more than 3 400 unclaimed bodies of people who passed away but their families have not showed up to claim their loved ones’ remains. To open some space for more bodies streaming in every day from deaths which are mainly unnatural, particularly from murder scenes and accidents, the department is burdened with the sad reality of having to store the bodies underground, through what is called a “pauper’s burial”. When a body of a deceased person is not collected for a period of 30 days, and public calls have been reasonably made for relatives to come and identify and collect the body, the government facilities or municipalities are empowered to give the unclaimed bodies…

For years the Clermont Auvergne team was regarded as the unluckiest team in French rugby history. The Sharks’ opponents in Saturday’s Challenge Cup semi-final at one point had lost 10 finals in a row in the French Top 14 competition before breaking the unlucky run, in part thanks to a lucky charm from South Africa. Springbok captain John Smit played for Clermont in 2009 and 2010, the years Clermont finally won the trophy. The club has come a long way since it was formed early in the 20th century to represent the Michelin tyre company that has had a factory in Montferrand since 1889. Marcel Michelin, the son of the tyre giants, started the club and they were originally called AS Michelin before changing their name because of legal issues.…

Jake White wanted a reaction from his Bulls troops after their loss to Munster a weekend ago. Judging by their overpowering 61-24 win of over the Ospreys, White received exactly the response he challenged his side to produce as they got their United Rugby Championship (URC) campaign back on track with the convincing victory. The Ospreys could have been a banana skin for the Bulls and they headed to Pretoria with plenty of confidence from a good win over the Stormers. But it took Loftus Versfeld only about 40 minutes of rugby to celebrate a bonus point for tries scored and after half-time, the home side continued to step on the gas as they ran their visitors ragged. A red card halted their momentum against Munster, but on Saturday, they…

Cape Town City (1) 1 Gonzalez 38 Golden Arrows (0) 1 Sibiya 47’ Cape Town City’s winless run in 2024 stretched to 10 games after they were held to a 1-1 draw by Golden Arrows at the Cape Town Stadium yesterday. The Citizens failed to climb up the DStv Premiership table, while Abafana Besthende kept up their top-eight ambitions as they moved to within a point of Kaizer Chiefs. Venezuela-born forward Darwin Gonzalez scored just his second goal of the season as he broke the deadlock in the 38th minute. The versatile attacker showed great anticipation as he ghosted in at the far post to get his head on a Luphumlo Sifumba delivery and powered his header past goalkeeper Ismail Watenga. Having struggled in the first half, Arrows made the…