Indholdsfortegnelse for 2024-07-05 i Mercury

Sentiment among CEOs of leading companies in South Africa has remained optimistic about economic and market conditions on the back of a stable political environment and electricity supply since the formation of the Government of National Unity (GNU). The Merchantec CEO Confidence Index released yesterday recorded a 13% increase in CEO confidence, rising to a score of 51.4 points in the second quarter. This improvement was driven by a 24% increase in the consumer staples sector and the recent absence of load shedding after Eskom suspended rotational power cuts in the second quarter. The index is a quarterly copyright report that has collated the views of CEOs of listed, large private and multinational companies in South Africa since 2009. It is compiled by Merchantec Capital, a mergers and acquisitions specialist…

THE SA Farmers Development Association (Safda) and SA Canegrowers have successfully resolved a recent impasse regarding millions of rand in transformation funding. Sugar industry players in South Africa were at loggerheads last week over the funding, and allegations of fronting and racism against black small-scale growers. Sugar industry transformation interventions were introduced by the sugar industry in November 2018, championed by Safda. The total agreed amount of the fund was R1 billion over five seasons, which translated into just over R200 million per season. Contributions making up the transformation fund are extracted from levies contributed by all sugar industry members. Safda last week accused the SA Canegrowers industry association of “fronting”, and “condemned” what it called “disturbing anti-transformation tendencies”. However, Safda executive chairperson Dr Siyabonga Madlala said yesterday that “these…

Underpinning much of the South African agriculture sector’s excellence is fit-for-purpose regulation that ensures a healthy seed industry. The regulations guarantee that seed to farmers is stable, meaning the same popular crops are generally available, along with improved ones each season. They also guarantee that the seed is of high quality, covers a broad range of crops and that imported seed is free from potentially harmful pests. Because of this, the seed sector significantly contributes to the economy. In 2022, South Africa’s seed industry was worth a staggering R10 258 426 000. Its value has also grown year-on-year and a significant reason for this has been a regulatory environment which has ensured the market for seed is a competitive one. Our seed legislation and regulation also set…

Tongaat Hulett’s Zimbabwean listed unit – Hippo Valley – has had to divert domestic market volumes to the export market owing to decreasing local sales due to unfriendly fiscal conditions that drove up the cost of doing business during the year to end-March. Hippo Valley and non-listed Triangle Sugar Corporation make up the Zimbabwe operations for troubled Tongaat Hulett. The company opted to skip a dividend for the year under review. Hippo Valley reported on Wednesday that volatile Zimbabwean “exchange rates and high inflation disrupted liquidity flows” were factored in for the company during the period under review. This had created cash-flow gaps which the company plugged with utilisation of short-term loans with financial institutions. These financial institutions, battling a liquidity crunch, struggled “to satisfy working capital” requirements. “The operating…

Although South African mining companies registered a 6.6% year-on-year rise in input costs, in May there was a 0.6 percentage point deceleration on a month-on-month basis as gold miners continued to face average input-cost inflation. Apart from battling logistical constraints such as bottlenecks in rail and port efficiencies, South African miners are having to contend with rising costs. In May, the Minerals Council yesterday said, mining costs rose 6.6% compared to May, 2023. This does not bode well for employment in the industry that is already forced to retrench thousands of workers due to loss-making shafts and low commodity prices. “One of the main factors driving input-cost inflation in May was the 2.6% increase in prices for other chemicals and man-made fibres. This category includes mining chemicals, chemical catalysts, and…

IRELAND coach Andy Farrell has pulled a rabbit out of the hat by picking an uncapped youngster at fullback in Jamie Osborne, a brave call indeed given that the Springbok playmakers will rain high balls on him all evening. Veterans Hugo Keenan and Jimmy O’Brien have been left out for Osborne after the latter’s impressive season for Leinster in various positions in the backline, but he has played only a handful of games in the No 15 jersey. It sounds like a gamble by Farrell but he has his reasons for going with the sturdy youngster. “This selection of Jamie has been in the pipeline for some time and we have had him in our greater squad for a few seasons. He has impressed us with his skill set and…

ENGLAND’S European Championship campaign looked dead and buried before it was salvaged by a remarkable last-gasp goal from Jude Bellingham in the round of 16, but they have barely made their presence felt in Germany. Gareth Southgate’s men take on in-form Switzerland in the quarter-finals tomorrow in Düsseldorf, and the Swiss underlined their credentials by beating defending champions Italy in the last 16. A couple of weeks ago, England would have relished facing Switzerland – a team they have lost to only three times in their 27 meetings and most recently in 1981. Murat Yakin’s team, however, have played with a consistency and confidence that has eluded England. Yakin even said he sympathised with Southgate, who has been lambasted in Germany for not getting more from his talented squad. “I…

JOHANNESBURG – Proteas white-ball coach Rob Walter is holding on to a “little glimmer of hope” that Quinton de Kock may still be available to the national team in the future. De Kock, 31, retired from Test cricket in December 2021 and also hung up his One-Day International bat after last year’s World Cup in India. It was expected that the recent T20 World Cup in the US and Caribbean would possibly be De Kock’s last competition in national team colours. It certainly appeared that way after De Kock was left visibly emotional, which is rarely seen, after the defeat to India in the final at the Kensington Oval. But Walter is hoping that the Proteas’ highest run-getter at this last T20 World Cup, with 243 runs at a strike…

The National Employers’ Association of South Africa (Neasa) yesterday provided clarity for all affected parties on the relevant deadlines and periods of validity of the Zimbabwean exemption permits (ZEP) dispensation. There are more than a million Zimbabweans living in South Africa, according to South Africa’s census data. It said for the current holders of the original ZEPs, the deadline has been extended and was valid until November 29, 2024. Current holders of the original ZEPs were entitled to apply for new exemption permits, while new exemption permits issued were valid until November 29, 2025. It said the original ZEP holders who had already applied for waivers and for other visas did not have to apply for the “new” exemption permits; and therefore, if an original ZEP holder had applied for…

South Africans are increasingly buying down on chicken products to stretch their money as the soaring cost of living continues to place severe pressure on household budgets. This is according to the latest import statistics released yesterday and compiled by food distributor, Hume International. The data showed that total import volumes of whole birds had nearly tripled compared with the same period last year, and the total import volumes of chicken wings and drumsticks-products typically used by local manufacturers to supply fast-food chains, effectively doubled and leapt 94.08% and 108.74% year-on-year, respectively. Hume International operations and logistics director Roy Thomas said these shifts first served as evidence of the real impact of the bird flu outbreak in South Africa during the latter months of last year. “Imports have always bridged…

The National Debt Counsellors Association (NDCA) has warned that many of their consumers, particularly homeowners, were seeing their combined spending on electricity, rates, and other municipal service charges in many cases was more than what they spent on their bond repayments. NDCA chairperson Benay Sager said yesterday that South Africa should strive to reverse the situation over the next few years in such a way to help all consumers, particularly homeowners, to build wealth and build some equity in their homes. “If the situation carries on and operational expenses such as rates, electricity, water, and all other municipal service charges continue to exceed the amount that we’re paying for a bond, it just makes it more and more difficult, not only for current homeowners but also to attract future homeowners,”…

Absa in partnership with Ozow are introducing Absa Pay, a new payment solution, it said in a statement. By integrating Ozow’s platform with Absa Pay, both companies aim to improve the digital payments ecosystem. “This alliance is facilitated through South Africa’s leading proprietary open banking-payments interface, reflecting a significant shift in how South Africans interact with their banks and conduct transactions,” they said. Open banking, which allows third-party developers to create apps and services around financial institutions, offers safer and more user-friendly payment options. According to the World Pay Global Payments Report 2024, Pay-by-Bank is the second most preferred method for e-commerce purchases in South Africa, capturing 22% of the market share – just 2% behind debit-card payments. Absa Pay provides a fast, simple, user experience. It guarantees settlements (subject…

Avocados are popular all over the world. Nutritious, versatile and delicious, they have become a kitchen staple in many homes. Whether you are vegan, vegetarian or just trying to eat more plant than animal products, avocados are extremely nutritious and have been linked to several health benefits. Their rich and creamy deliciousness birthed what most people enjoy today – avocado toast. It has become a popular choice for breakfast or a quick and nutritious snack. From savoury additions like tomatoes, eggs and seasonings to adventurous twists such as fruity salsas, there are infinite toppings available to satisfy your avocado toast cravings while delivering a wholesome blend of healthy fats, proteins and carbohydrates. Below are six ways to amp up your avocado toast game: Sprinkle with spice A sprinkle of…

BirdLife South Africa (BLSA) and the Southern African Foundation for the Conservation of Coastal Birds (Sanccob) have claimed that the minister of Forestry, Fisheries and the Environment failed to implement key recommendations made by an expert panel regarding fishing closures to preserve key African penguin breeding colonies. The two organisations, in landmark litigation, argue that former minister Barbara Creecy’s decision “flies in the face of the purpose for which the panel was appointed”. BLSA and Sanccob have turned to the court for the decision on fishing closures around breeding colonies to be reviewed, and the matter is set down for hearing from October 22 to October 24 at the Gauteng High Court, Pretoria. The two say Creecy failed to implement key recommendations by an international panel of experts. “(It) evidences…

Health unions have welcomed the reappointment of Dr Aaron Motsoaledi as Minister of Health, saying he was familiar with the challenges facing the ministry and hands-on when it came to problem solving. The Health and Allied Workers Indaba Trade Union (Haitu) through its general secretary, Lerato Mthunzi, said during his tenure as health minister, Motsoaledi turned the fortunes of the ministry around. “Dr Motsoaledi is no stranger to the health portfolio and when he was minister, conditions in public hospitals and clinics were far better than they are now. Dr Motsoaledi has a reputation for being hands-on when it comes to solving the problems in the department, and we remember him for being a person who engages all labour unions in health, not just those affiliated to Cosatu. “The minister…

“Nah, I don’t think he will wear one,” Chesin Kolbe said, chuckling, when imagining Makazola Mapimpi with a scrum cap on. “He is experienced and he is a special player but I don’t think we will ever get that right.” The current crop of Springbok wings have become an iconic sight, their features obscured. Kolbe and Kurt-Lee Arendse have stepped this way then that to evade the attentions of defenders, leaving them in their dust, the only way to identify them the proud numbers on their backs. Add the recently-capped Edwill van der Merwe to that shrouded duo and the confusion is real. So, it was with a chuckle earlier this week that Kolbe dismissed any notion of teammate Mapimpi joining their disguised number. For the record, on Saturday at…

SOWETO giants Kaizer Chiefs will, for the first time since 2001, jet off to Europe for their pre-season head of the 2024/2025 campaign. The club have decided to hold their pre-season camp in Turkey, where they are expected to spend the next three weeks recalibrating their minds and bodies. Amakhosi are set to announce the appointment of Tunisian tactician Nasreddine Nabi alongside four members of his newly formed technical team in the coming days. Chiefs have already begun their squad revamp processes by releasing players and are expected to be radical in that stance with the arrival of Nabi. Kaizer Motaung Jr, the sporting director at the club, explained why the club elected to have their pre-season abroad, particularly with a new technical team. “The most crucial aspect of a…

EVEN though Novak Djokovic was nursing a dodgy right knee, toppling him at Wimbledon was never going to be easy for a Briton ranked 277th and so it proved as the Serb huffed and puffed into the third round with a 6-3 6-4 5-7 7-5 win over Jacob Fearnley. The wild card, who was ranked outside the world’s top 500 just a month ago before shooting up almost 250 spots after winning a second-tier Challenger event in Nottingham, will take away many memorable moments from his Centre Court debut. He is unlikely to forget the ground-shaking, ear-splitting roar Djokovic let out after the Serb broke him for a 3-2 lead in the third set. Fearnley will also cherish the memory of being applauded by one of the sport’s all-time greats…

Stocks on the JSE hit an all-time high yesterday as investors were buoyed by continued optimism about potential interest rate cuts this half by the US Federal Reserve (Fed). The JSE All-Share Index rose 0.9% to 81 155 points yesterday, reaching record-levels, as the Federal Open Market Committee (FOMC) minutes on Wednesday night showed Fed officials sticking to their cautious outlook with only one rate cut this year. Markets, however, are betting on more cuts given recent data showing both a cooling economy and a slowing labour market in the US. AdvTECH and Vodacom led the charge yesterday, both rising 4.3% followed by Equited, Karoo and Impala Platinum gaining 3.6%, 3.5%, and 3.3% by 5pm, respectively. Investec chief economist Annabel Bishop said there was now 100% certainty of the…

Through the combined actions of the City of Johannesburg, City Power and the National Energy Regulator of South Africa (Nersa), residents are facing a looming, dire cost-of-living crisis. Just when residents thought there was light at the end of the tunnel, City Power has pulled the rug out from under them with the stealthily executed introduction of load reduction – otherwise known as load shedding. Claims that the move was necessary due to increased electricity usage during the winter months seem disingenuous. Temperatures have dropped, people are staying indoors more and they need to keep warm. Consequently, electricity usage is bound to increase. This begs the question: How is it possible that, despite their many years of combined experience, neither Eskom nor City Power had made any contingency plans to…

PETRA Diamonds said yesterday that there has been “continued softness in demand for stones between 1 and 10 carats”, worsened by seasonal weakness in diamond prices. This comes after the company last month said it was extending the life of its South African mines after scaling back operating costs by $30 million (R550m) from 2025 onwards. Apart from operating Cullinan and Finsch mines in South Africa, Petra Diamonds also runs the Williamson mine in Tanzania. Under its latest diamond auction for the month of June, 2024 Petra Diamonds earned $37m, it said yesterday. This brought up the company’s revenue, for its 2024 full-year trading period, to $366m, which is higher by about 13% compared to the 2023 full year. Petra Diamonds CEO Richard Duffy said yesterday that he now expected…

US OFFICIALS reported on Wednesday their country’s fourth human case of bird flu linked to the outbreak of the virus in dairy cattle. As with previous cases, the person worked on a farm and was exposed to infected cows, the US Centers for Disease Control and Prevention (CDC) said in a statement, adding that the risk to the general population remained “low”. The infection occurred in Colorado and the affected person, who only had eye symptoms, was given antiviral medication and has since recovered, it said. A first US infection in the southern state of Texas was announced on April 1. Two other cases were subsequently reported in Michigan. Numerous herds of cows are infected across several American states, an epidemic that was first detected in March. Experts are concerned…

Durban from today will be laying out the red carpet for visitors as it hosts the prestigious Hollywoodbets Durban July tomorrow and the highly anticipated rugby clash between the Springboks and Ireland the following week. The events are expected to provide a significant economic stimulus to the city, drawing thousands of visitors and boosting hotels, restaurants and local businesses. Africa’s greatest horse racing event, the Hollywoodbets Durban July, takes place at Greyville Racecourse tomorrow, bringing together high fashion, glamour and thrilling horse racing. Just a week later, on July 13, the Springboks will face Ireland at Kings Park Stadium in what promises to be an exciting and competitive match. The Hollywoodbets Durban July is expected to contribute R670 million to the city’s GDP and is just one of several winter…

DR BERTUS van Heerden, who graduated recently with a PhD in Physics during the University of Pretoria’s (UP) 2024 autumn graduation season, has been selected to attend the Lindau Nobel Laureate Meetings in Germany, which will conclude today. He is one of just eight young scientists from South Africa who was selected to participate. These meetings are a forum for young scientists from around the world to engage with Nobel laureates on research and career management aspects. As the official partner of the Lindau Foundation, the Academy of Science of South Africa, with funding from the national Department of Science and Innovation, nominates young scientists to attend the meetings. “I’m very grateful and excited to be selected to attend this event,” said Van Heerden, a postdoctoral researcher in the…

DA leader and Agriculture Minister John Steenhuisen says there will be no purging of directors-general (DGs) in ministries led by his party’s ministers in the Government of National Unity (GNU). “Where you have DGs that are there on contracts, the contracts will be honoured. Obviously, we are not going in looking to purge anybody. “We will be looking for people who are going to work to achieve the goals of departments, where people are willing to work and not play political games. “I think there is not going to be any problems,” he said. He made the remarks during an interview with the SABC on the sidelines of the swearing-in of members of the executive on Wednesday. The contracts of DGs came up in a letter from DA federal council…

Durban author and illustrator Nathi Ngubane, has defended his Palestinian-themed colouring book for children titled From the River to the Sea, after it received criticism. More than 38 000 Palestinians have been killed in deadly bombing attacks after Israel launched strikes on Gaza following Hamas attacks on southern Israeli towns on October 7, that killed 1 400 people, most of them civilians. The 2.4 million people in Gaza have been plunged into a deep humanitarian crisis, with food, water, medicine and fuel all in short supply. Ngubane said despite the criticism he has received he will continue to tell the story of Palestine as he believes it is the right thing to do. Ngubane launched the book to children at the Baitul Hikmah bookstore in Sydenham yesterday. In May the…

CAPE Town City has continued to make the loudest noise in the transfer market after announcing Kamohelo Mokotjo as their ninth signing ahead of the 2024/2025 campaign. The Cityzens have added the ex-Bafana Bafana midfielder to their roster on top of what has been a collection of some of the most experienced talents in the country. The 33-year-old Mokotjo joins City as a free agent after leaving Sekhukhune at the end of the season, having turned out 50 times for Babina Noko in one and a half seasons. Head coach Eric Tinkler has overseen the signings of Angolan midfielder Carlinhos; Haashim Domingo from Raja Casablanca, Morocco; Kayden Francis from Chippa United; Fortune Makaringe from Orlando Pirates; Namibian international Prince Tjiueza; goalkeeper Elson Sithole from Magesi FC; defender Sibusiso Ziba from…