Indholdsfortegnelse for 2024-10-18 i Mercury

Investors favour mid-sized unit trusts amid market changes in SA A noteworthy shift is occurring in South Africa’s unit trust sector. While some larger managers are experiencing modest outflows, mid-sized managers are seeing substantial inflows on the back of strong performance. Investors also gravitated towards balanced and multi-asset portfolios, showing a growing preference for ESG-compliant funds and domestic equity. This trend is also evident in the move towards domestic equity within the listed property sector, reflecting both evolving market dynamics and the performance of managers in these spaces. Inflows into the unit trust sector remained relatively strong before the Covid-19 pandemic. However, as the pandemic unfolded, investor sentiment took a hit, leading to a slowdown in new investments. According to the Association for Savings and Investment South Africa (ASISA), there…

If you want to give memorable gifts to the people you love it’s not money that’ll do it. Offer these attitudes – ways of being – and you will be remembered forever: Unhindered attention: you have my ears, my eyes, my brain and my heart for this time, this hour, this meal, or this weekend. Unilateral forgiveness: you have a fresh, completely new start with me even though we have a rich history. This means that, as much as it is possible, at least from my side, our pasts will not disrupt the present or impede the future. Absolute freedom: you have God-given freedom that is mine to honour, and so I will allow nothing in my behaviour or attitudes to get in the way of your full enjoyment of…

Mohamed al Fayed was an Egyptian billionaire who owned the House of Fraser Group, the Ritz in Paris, Fulham Football Club and, of course, the flagship of his business empire, the world famous English departmental store, Harrods. He was the boss of Harrods for 25 years. Twice he was denied British citizenship because he failed the good citizenship test. Apparently he made ‘cash for questions’ payments to MPs. Al Fayed died last year at the ripe old age of 94, but he was none the wiser for old age. Even from his grave, he still hogs the headlines. Though he always appeared prim and proper in public and always with a smile, there was a darker side to his character. He was the monster, as one alleged victim described him,…

THE KwaZulu-Natal Premier Thami Ntuli announced yesterday that all systems are in place for the National Senior Certificate (NSC) examinations next week. With just three days to go before the start of the exams, Ntuli assured the public that the provincial government was determined to run an examination that was free of any irregularity. “The province has in place adequate measures that will help ensure there are no security breaches at the examination printing centres that may result in exam papers being leaked,” he said. The premier said KZN Education MEC Sipho Hlomuka and the head of department Nkosinathi Ngcobo conducted a thorough inspection of the printing facilities and were satisfied that stringent protocols were in place to ensure the integrity of the exam processes. “In line with this, under…

PRESIDENT Cyril Ramaphosa expressed his confidence in the Constitutional Court to make a final determination on the Phala Phala scandal when it will hear an EFF application to review the decision of the National Assembly not to impeach him. He said the National Assembly resolved in December 2020 not to refer the independent panel’s report for an impeachment inquiry when it exercised its powers and constitutional responsibility. The investigations conducted by a wide range of independent law-enforcement agencies have been concluded. Last week the National Prosecuting Authority said it will not be pursuing the Phala Phala case any further following what it called a “comprehensive investigation” by the Directorate for Priority Crime Investigation (DPCI). Ramaphosa said no evidence of wrongdoing on his part had been found. “None of those bodies…

A South African teacher, who has won the R43million Powerball jackpot, said her first big purchase will be a grand piano. Friday’s Powerball jackpot was R43 158 293.10. According to National Lottery Ithuba, the winner is an Arts teacher. She played via the Absa banking platform. She told Ithuba that she found out that she had won while on her way to work. “I was on my way from work when the bank called me on Monday (October 14, 2024) to check my Powerball ticket and said to get in touch with Ithuba because I had won some money. “When I got home, I checked my ticket against the winning numbers. When I realised that I had won the jackpot, I felt like I was in a dream for a…

A rigorous analysis of firearm crimes, strengthening the Central Firearms Registry and a better system to report lost guns were among the factors that needed to be considered to reduce crime and violence in the country. This was said yesterday during a Institute for Security Studies (ISS) seminar titled ‘Targeting Firearm Crime to Reduce Violence’. It was noted in the seminar that there are between 15 000 and 16 000 firearm deaths every year in South Africa and over 17 000 firearm-related injuries reported in the 2023/2024 year. It was revealed that firearms have played a major role in increasing femicide, with more than 27 000 murders reported between 2022/2023 and 2023/2024. David Bruce, an independent researcher on policing and consultant to the ISS, said that crime mapping with a…

Tensions in communities in Sharpeville and Bronkhorstspruit boiled over yesterday as residents took to the streets to voice their anger over food poisoning incidents involving children. Foreign-owned spaza shops were looted and goods were destroyed by angry community members. This came after six children in Bronkhorstspruit were admitted to hospital after allegedly consuming expired snacks from a local spaza shop. The incident comes after six children in Naledi, Soweto, died allegedly after consuming snacks from a spaza shop. The cause of death of the children has not yet been established. Speaking on the Sharpeville incidents, police spokesperson Colonel Dimakatso Nevhuhulwi, said the looting of shops operated by foreign nationals had begun earlier this week. On Wednesday, a local businessman was shot dead while his employee sustained serious injuries. “The…

Being black in South Africa still means that one is more likely to be a victim of violence SOUTH Africa is one of the most violent countries in the world. The fact that some of the most violent crimes primarily play out in the historic Fanonian zones of nonbeing means that as a country we are yet to officially break away from our past white political order. In a sense, the racial politics of the past coexist and are entangled with our present. Consequently, being black in South Africa still means that one is more likely to be a victim of violence. One of the most tragic outcomes from the white political order of our past is the normalisation of anti-black violence. It made it normal to see black lives…

Israel struck a Hezbollah target in Syria yesterday, a war monitor said, and the US used heavy bombers to hit rebel targets in Yemen nearly a month into the war in Lebanon. Syria, the Houthi rebels in Yemen, Hezbollah in Lebanon and Hamas in Gaza belong to the axis of resistance led by Iran, which on October 1 conducted a missile strike on Israel. Israel has vowed to retaliate for Iran’s strike, sparking concern across the world that the war on multiple fronts could morph into an all-out regional conflict. Iran’s Revolutionary Guards chief yesterday warned that Tehran would hit Israel “painfully” if it attacked Iranian targets. “If you make a mistake and attack our targets, whether in the region or in Iran, we will strike you again painfully,” Hossein…

Clashes between Ethiopian federal forces and militias in the country’s north-west are placing fleeing Sudanese refugees at “grave risk”, Human Rights Watch (HRW) warned yesterday. The Fano militia, based in Amhara state, is one of several regional groups battling the federal government since it vowed to crush paramilitary forces in April 2023. A government state of emergency in Amhara, home to some 23 million people, expired in June but the unrest has continued, with a large contingent of federal forces deployed in September. The region borders Sudan, itself embroiled in a civil war between the Rapid Support Forces and the country’s de facto ruler Abdel Fattah al-Burhan since 2023, with tens of thousands fleeing. “Sudanese refugees in Ethiopia have been targets of abuses for more than a year from various…

MOSCOW: The BRICS summit will be held in Russia’s Kazan on October 22-24. A Russian official said that more than 30 states have confirmed their participation in the summit, including the UAE, Türkiye, Saudi Arabia, Indonesia, with six international organisations sending their representatives. Russia assumed the rotational BRICS chairmanship in January. The year began with the accession of new members to the association – in addition to Russia, Brazil, India, China and South Africa, it now includes Egypt, Ethiopia, Iran, the UAE and Saudi Arabia. Russia’s BRICS presidency focuses on strengthening multilateralism for fair global development and security. | Sputnik…

NIAMEY: Niger authorities have renamed streets and monuments that were named after the French. The decision comes amid a widespread anti-French movement in the former colonies. A major French educational institution in Niger was closed, and Niger revoked the licence of its uranium mine from French group Orano. Additionally, the country, along with Mali and Burkina Faso, also launched an investigation against a France 24 journalist. On Tuesday, Niger’s authorities in the capital, Niamey, renamed several historical sites whose names were reminiscent of France, the former colonial power from which they have moved away.…

Jose Riveiro says every game is a must-win situation for Orlando Pirates as they take aim at newcomers Magesi FC in the Carling Knockout Cup at Orlando Stadium tomorrow (3pm kick-off). The Sea Robbers were eliminated in the quarter-finals by Richards Bay (5-4 on penalties) after playing out to a goalless draw in normal time last season. Riveiro and his Buccaneers side have proven themselves to be cup specialists, as they have collected five trophies since the Spaniard arrived at the club. The latest scalp of Stellenbosch FC in the MTN8 final was their first trophy this season and their third in a row. They have also won back-to-back Nedbank Cup titles, and with that, they are by some distance the favourites for the clash against the Limpopo side. The…

Long before the days of global supply chains and year-round availability, humans naturally ate produce that was in season and locally grown. Recently, there’s been a renewed focus on returning to this more sustainable and nutritious way of eating. Besides creating a smaller carbon footprint and supporting local farmers, eating seasonally also means you're getting a wider range of nutrients, as the food you’re eating hasn’t lost nutritional value from months of storage or long-distance shipping. When it comes to maximising your nutrient intake, superfoods are an especially smart choice. These nutrient-dense foods are packed with vitamins, minerals and antioxidants that can help protect your body from free radicals and reduce inflammation – lowering your risk of chronic diseases like heart disease, cancer and diabetes. As we transition from the…

MORNINGSIDE – THE Pub With No Name in particular – appears to have at last shaken off the despair that accompanied the Sharks’ desultory performance against Benetton last weekend. It’s sunk in that when you win the Currie Cup and go on to play a succession of tough matches overseas, something’s gotta give. The Benetton game was painful to watch but it provided a lesson. Switch your players as much as you can, give the guys a rest. It pays dividends. The damsels of the Pub With No Name, distraught and tearful a week ago, have recovered their spirits remarkably after some upbeat rumours about today’s selection. One such was that Rassie has signed up the Loch Ness Monster as a line-out specialist for tomorrow’s match against Glasgow Warriors. The…

The scenes from Al-Aqsa Martyrs Hospital in Gaza the other evening were reminiscent of a horror movie. Except that this time, the people in the videos of that tragic event were not highly paid actors and the setting was not Universal Studios. There were no directors or stunt doubles involved. The special effects were not CGI, and the participants paid for it with their lives. Those images of Palestinian children being burned alive whilst onlookers watched helplessly, will forever be seared into the collective consciousness of those of us who actually have a conscience. Or maybe I am wrong. Maybe the war in Gaza has, in fac,t become a yearlong series, now renewed for a second year, proudly brought to international viewers by the Israeli army. Because, for an entire…

Political parties have welcomed the decision by the South African Rugby Union (Saru) to postpone a vote on a proposal to conclude a private equity investment in the country’s rugby commercial rights, saying greater debate was needed when it involved a “national asset”. Saru which manages the national Springboks team, planned to sell a 20% stake in a newly created commercial-rights company for $75 million (R1.3 billion) to American-based Ackerley Sports Group LLC. The deal is meant to capitalise on the success of the Springboks who have won back-to-back Rugby World Cups and is reported to be similar to a deal given to the New Zealand’s All Blacks, to raise funds from private equity. Seven of Saru’s 14 provincial unions have opposed the deal and member unions were due to…

THE Road Accident Fund has petitioned the judge president of the Supreme Court of Appeal (SCA) after the same court refused to hear their leave to appeal in a matter over its decision to change its accounting policies. This comes after the SCA found there were no prospects of success when RAF sought relief after the Gauteng High Court turned down their leave to appeal. At the centre of the appeal is whether RAF is an insurance fund or a social benefit fund. Briefing the Standing Committee on Public Accounts (Scopa) this week, RAF CEO Collins Letsoalo said they disagreed with the high court findings that they were an insurer, amid an adverse finding by the Auditor-General for not complying with prescribed accounting standards. “We have taken it on review…

The Special Investigating Unit (SIU) said it has recovered funds amounting to R2.28 billion, marking the highest recovery in the unit’s 27-year history. This was during the 2023/24 financial year. The SIU said that it also prevented a further R2.32bn in potential state losses and secured cash to be recovered from the acknowledgement of debt and admission of liability agreements to the value of R1.6bn. “In our pursuit of rectifying irregular administrative decisions, the SIU successfully set aside contracts worth over R2.13bn through the Special Tribunal and the High Court of South Africa,” said Kaizer Kganyago, spokesperson for the SIU. The investigative unit had also handed over 26 comprehensive reports to President Cyril Ramaphosa. These investigative reports involved the following entities: The National Lotteries Commission The Passenger Rail Agency of…

National Police Commissioner General Fannie Masemola said a car that was used by the suspects charged with murders of 18 people in Lusikisiki has been recovered. He was speaking at a media briefing held in Parliament yesterday. This comes after Siphosoxolo Myekethe, 45, was arrested in connection with the murders. Myekethe was out on parole for the murder of a police officer committed during a robbery in 2000. Following his arrest and appearance in court, police arrested three more suspects in Port Shepstone and East London on Wednesday. They are aged 22, 24 and 31. Masemola said they were looking for one more suspect. The three suspects are expected to appear in the Lusikisiki Magistrate’s Court today. Meanwhile, Police Minister Senzo Mchunu, who also spoke during the briefing, said there…

BLACK Wednesday, a dark day in South African media history, saw the closure of several publications that served as a voice for the marginalised. In one of its most severe crackdowns on media freedom and anti-apartheid activism, on October 19, 1977, the apartheid regime banned two major newspapers, The World and Weekend World, which were prominent voices against apartheid. Several journalists, including Percy Qoboza, the editor of The World, were detained without trial. The government also introduced stricter censorship laws, further limiting freedom of expression and the press. The day was dubbed Black Wednesday to reflect the blacking out of media freedom in South African society. Yet, the day also serves as a potent reminder of the enduring legacy of the Early South African Black Press as a foundation for…

The impeachment trial of Kenya’s Deputy President Rigathi Gachagua was thrown into disarray yesterday after his lawyer said he had fallen ill and was in hospital. The news prompted Senate speaker Amason Kingi to suspend sittings, the latest twist in a political drama that has transfixed the east African country. “The sad reality is that the deputy president of the Republic of Kenya has been taken sick, very sick, and ... he is in hospital,” lawyer Paul Muite told the upper house of parliament, explaining Gachagua’s absence from the chamber. Kingi said, nevertheless, that Gachagua was expected to take the stand. “This is a time-bound process, unfortunately. It is so ordered.” The Senate had been expected to give its verdict yesterday evening, at the end of the second day of…

Police in India’s financial capital Mumbai have arrested a minor for allegedly posting online bomb threats to three flights earlier this week, India’s aviation minister said. Indian airlines have this month received a spate of threats to domestic and international flights on their social media, all of which have been false alarms. “We strongly condemn the recent bomb threats to Indian air carriers. We are closely monitoring the situation and ensuring that every necessary measure is taken against such actions,” said Ram Mohan Naidu Kinjarapu, the country’s civil aviation minister. He said the person arrested was a minor, meaning below the age of 18, and did not name him. Local media have reported that bomb threats were made from an account on X and alleged two IndiGo flights – one…

PRAIA: More than 30 000 Cape Verdeans are facing a food crisis due to climate change and the Ukraine conflict, which have driven up food prices, a senior official said this week. At the opening of a conference held in Paris for World Food Day, Cape Verde’s Minister of Industry, Commerce and Energy Alexandre Monteiro said that the government has implemented several measures to mitigate the impact on those affected, including subsidies for livestock feed, maize and wheat, expanding grain storage capacity, and providing support to regulators and importers. He underscored the importance of promoting sustainable agricultural practices to support smallholder farmers. | Xinhua…

BEIRUT: At least 360 000 Lebanese citizens have no access to fresh water due to damage to water supply facilities caused by Israeli bombardment, the UN International Children’s Emergency Fund’s (Unicef’s) office in Lebanon said this week. “At least 28 water facilities have been damaged by the conflict, affecting water supply to more than 360 000 people, primarily in the south of the country,” Unicef said. At least 15 hospitals and 70 primary healthcare centres have also been damaged in Israeli attacks in different regions of the country, the agency said, adding that six hospitals are currently out of service. | Sputnik…

The weather has been a beautiful mix of sunshine on some days and wind and rain the next. The fishing has been great in all facets with social media full of smiles and big fish. The offshore fishing has been treating everyone well this past week. The gamefish have been the main species caught while some proper bottoms have rounded out the list. The North Coast has seen a lot of action on the gamefish front. There have been couta, snoek and tuna as the main catches. Live bait remains the most successful of all the reported methods. Remember to fish a trap stick when you are catching bait as you never know what is lurking around the baitfish. The sharks have taken their “fair” share, but some very impressive…

Wealth management is a multifaceted process that encompasses a spectrum of strategies and practices. There are two different phases within the realm of wealth creation and wealth preservation. The wealth creation phase Wealth creation is primarily concerned with the accumulation of assets and the growth of financial resources. Risk tolerance and growth mindset: During the wealth creation phase, investors tend to adopt a higher risk tolerance. The rationale is simple: higher risk can lead to higher rewards. Investments in volatile markets, startups, and emerging technologies are not uncommon as investors seek exponential growth. This mindset fosters innovation and opportunism, reflecting the potential to leverage capital into burgeoning opportunities. Time horizon: Wealth creation strategies often align with a long-term horizon, with investors planning decades ahead, allowing for compound growth where returns…

Love is a universal human experience, transcending cultures and binding us together in the most profound of ways. But what exactly is happening in our brains when we feel the warmth of parental affection, the flutter of romantic passion, or the unconditional devotion of our beloved pets? A recent groundbreaking study has shed remarkable light on this age-old question. Researchers at Aalto University in Finland have mapped the brain’s response to different types of love, from the all-consuming passion of romantic entanglement to the unwavering devotion of parental bonds and the companionship we share with our beloved pets. They used the power of functional magnetic resonance imaging (fMRI) to map brain activity associated with various forms of love. By having participants read short stories designed to evoke specific emotional responses,…

The recent actions of the Democratic Alliance (DA), under Helen Zille’s leadership, reveal an alarming sense of entitlement—one that suggests they believe their whiteness alone gives them the right to govern South Africa. Over the years, the DA has persistently sought power through strategic alliances and backdoor manoeuvres, all aimed at gaining control of the Union Buildings. Following the 2021 local government elections, the DA quickly contacted various political parties to gang-up against the ANC, succeeding in some parts of the country, including KwaZulu-Natal, where it handed over seats to the IFP to control key councils. This strategy is not new. Since 2011, the DA has pursued a coastal dominance plan, attempting to consolidate power from the Western Cape, Eastern Cape, and KwaZulu-Natal, with the ambition of adding Gauteng, the…

While animal cruelty should be condemned at all costs, it is awaited with baited breath to see how those who fed human beings to pigs will be treated by the SPCA. The selective punishment of Africans, in particular, regarding animal cruelty, should be closely monitored. These are heavy sanctions and punishments. We hope that other races will also receive them. Animals suffer greatly at the hands of other races, but the SPCA remains oblivious to these atrocities. Be fair, SPCA, do not come with excuses like “show us facts”. You know!…

The SACP will re-evaluate its role as an alliance partner of the ANC in the 2026 local government elections and the next general elections amidst an ongoing dispute over the formation of the Government of National Unity (GNU). The party snubbed the ANC’s invitation to attend the Government of National Unity’s (GNU) 100-day event this week as it has repeatedly expressed its dissatisfaction with the DA and FF+ being part of the coalition. SACP’s general secretary and other senior party leaders did not attend the ANC event, but Blade Nzimande and Buti Manamela, who are also ANC national executive committee members, were present. The organisation’s national spokesperson, Dr Alex Mashilo, said it had urged its supporters to vote for the ANC at the May 29 elections, with the intention that…

A wealthy businessman in the mining sector has been handed a unique prison sentence if he doesn’t pay up the full arrears maintenance for his three children. The Western Cape High Court ruled in favour of the applicant (mother), who had been in a relationship with the man for about nine years and had three children during that time. The court found the respondent (father) was in contempt of a court order granted in November 2022, in that he did not pay the full child maintenance as per the order. According to the mother, the father is a wealthy businessman in the mining industry with various business interests, while she is a homemaker. Following the breakdown of the relationship, the father unilaterally reduced the maintenance from R112 000 to R22…

Former police officer, Abram Mashila Mtsweni has been found guilty and sentenced by the Ermelo Regional Court for contravening the Prevention and Combating of Corrupt Activities Act. The Directorate for Priority Crime Investigation, also known as the Hawks, said that during 2015, Mtsweni was employed by the SAPS as an investigating officer, based at the Ermelo Vehicle Crime Investigation Unit (VCIU). “He was approached by a member of the public requesting him to assist with motor vehicle clearance,” said Hawks spokesperson in Mpumalanga, Warrant Officer Thandi Tshabalala. “The accused demanded money from the complainant to do so. The member of the public allegedly paid an amount of R16 000.” However, the complainant did not receive the police clearance certificate. “The member of the public reported the matter to SAPS for…

Educor Holdings (Pty) Ltd, a private education provider, has announced that its registration has been fully reinstated and it was able to welcome new students. Educor institutions - City Varsity (Pty) Ltd, Damelin (Pty) Ltd, Icesa City Campus (Pty) Ltd, and Lyceum College (Pty) Ltd were de-registered earlier this year due to their failure to provide evidence of financial stability to the Department of Higher Education and Training (DHET). The move affected thousands of students across the country. At the time, the DHET said the institutions had exhibited non-compliance with the stipulations outlined in the Higher Education Act and its accompanying regulations. While the DHET announced the provisional reinstatement of Educor in August, Educor confirmed this week that it had since been fully reinstated. Educor’s Chief Operating Officer, Michael Thurley,…

Police confiscated counterfeit clothing worth over R37 million in an operation in Durban’s CBD yesterday. KZN police spokesperson, Colonel Robert Netshiunda, said the operation was carried out by a team focused on investigating the sale of contraband and counterfeit goods. He said that police had received intelligence regarding the sale of counterfeit items in shops on Dr Pixley KaSeme Street in the CBD. “Police obtained search warrants, which led to the seizure of a large quantity of counterfeit high-end clothing items, watches, and other big brand goods,” said Netshiunda. Five suspects, including foreign nationals, were arrested. “Their status in the country is yet to be confirmed,” Netshiunda added. According to Netshiunda, the suspects will face charges related to contraband and counterfeit goods. “Once processed, the suspects will be taken to…

Despite South Africa’s successes in the sporting arenas of the world, there always seems to be issues off the field that hold our teams back. We’ve seen how boardroom problems nearly derailed the Springboks, Bafana Bafana and Proteas, not to mention the headaches administrators gave our Olympic stars. Yet, the Boks have won four World Cups and they clinched the Rugby Championship title this year. Even the doomed Proteas Men’s team reached the final of an ICC event this year, going all the way to the title decider against India in the T20 World Cup in Barbados, which they lost by seven runs. Something is going right in SA sport when Bafana Bafana are competitive at the Africa Cup of Nations – Hugo Broos’s team finished third in Abidjan. But…

As the world marked World Food Day on Wednesday, experts in Uganda highlighted the country’s growing benefits from South-South co-operation with China and the Food and Agriculture Organization of the UN (FAO). The experts said the partnership is helping Uganda leverage China’s agricultural expertise to enhance food production and strengthen food security. Under the third phase of the South-South Co-operation (SSC) project between China and Uganda, supported by the FAO, nine Chinese agricultural experts have been stationed in local communities and research centres across the country. They are working directly with Ugandan farmers, sharing valuable skills and technology. Zhang Xiaoqiang, leader of the current team of Chinese experts, said since 2012, China has sent nearly 60 experts to assist in improving Uganda’s agricultural production. Zhang said the Chinese experts introduced…

LUANDA: Angolan President Joao Lourenco called for a peaceful resolution to the conflicts in the Middle East and emphasised the need for an independent Palestinian state during his annual state of the nation address to the Angolan Parliament in Luanda. He expressed concern over the ongoing civilian casualties in the Palestinian West Bank, Gaza Strip and Lebanon, and urged the international community to unite to stop the violence and promote peace. Stressing the importance of respecting the UN Charter, Lourenco called for the end of the occupation of Palestinian territories and the creation of a sovereign Palestinian state. He also called for immediate action to protect innocent lives. | Sputnik…

DAR ES SALAAM: Tanzanian authorities this week reaffirmed their commitment to reforming the poultry sector to enhance economic development and improve citizens’ welfare. During the opening of the two-day Southern African Poultry Futures Forum in the port city of Dar es Salaam, Deputy Prime Minister Doto Biteko highlighted that Tanzania, with a chicken population of 103.1 million, has significant potential to transform its poultry industry into a lucrative sector. He instructed the Ministry of Livestock and Fisheries to establish modern poultry demonstration farms, laboratories, and abattoirs to bolster the industry. | Xinhua…