Innehållsförteckning för 2024-11-12 från Mercury

South Africa’s largest mobile operator, Vodacom, has announced a dividend of 285 cents per share for the six months ending September 30, marking a 6.6% decrease from the previous period. This comes as the company reports a significant decline in headline earnings per share (HEPS), which saw a drop of 19.4%, coming in at 353 cents per share. Vodacom’s dividend policy is to pay at least 75% of group headline earnings to shareholders in the form of dividends. “Given the expected phasing impact of the currency depreciation in Ethiopia on headline earnings for the full financial year, the board declared an interim dividend of 285 cents per share equating to an 86% payout,” it said. Yet, Vodacom continues to invest. “Despite the pressures associated with this economic cycle, we will…

The rand plunged to its lowest in one month, falling more than 2% to nearly breach the R18-mark to the US dollar yesterday as the greenback continued to strengthen amid Trump-driven optimism and anticipated economic data. The domestic currency took a hammering yesterday, falling 2.3% to R17.94/$1 by 6pm, its lowest since September 11, as the dollar rose to its highest level since early July, extending a six-week winning streak after a nearly 0.6% gain last week. According to market analysts, “Trump trades” remained prevalent as traders anticipate that US President-elect Donald Trump’s policies on taxation and deregulation will favour businesses and likely drive inflation higher, limiting the US Federal Reserve’s capacity to lower interest rates. With support for Trump coming partly from the US Midwest, previously a strong manufacturing…

South Africa’s delegation at COP29, which commenced yesterday in Baku, Azerbaijan, has expressed a strong hope for the practical operationalisation, financing, and resourcing of the newly-established Loss and Damage Fund. This comes as the nation’s senior representatives from the Presidential Climate Commission (PCC), including executive director Dr Crispian Olver and Minister of Forestry, Fisheries, and the Environment Dr Dion George, were preparing to engage with global leaders on pressing climate issues. The Loss and Damage Fund, a significant outcome of COP28 held in Dubai last year, seeks to provide financial support to vulnerable nations grappling with the impacts of climate change. South Africa is focusing its efforts on increasing the total contributions, currently pegged at $700 million, to ensure that developing countries receive essential resources to address the climate…

The narrative around African tech entrepreneurship has become rather problematic. We've imported "founder as hero" mythology wholesale from overseas markets, layering it atop our complex continental realities without proper consideration for how this shapes young Africans' career aspirations and economic futures. Genius founder myths "Founders are not the heroes," Victor Mapunga, the founder of FlexID and Shona Prince Technologies, declared during a recent African Tech Roundup podcast conversation. As an entrepreneur who's navigated Zimbabwe's challenging tech landscape, first with the blockchain-based digital identity platform FlexID that’s achieved international traction, and now with Shona Prince Technologies—where he aims to democratise internet access as a Starlink distributor while building innovative hardware and software solutions for WiFi monetisation—Mapunga's assertion carries the weight of lived experience. "What we merely do is organise factors which…

Woolworths Holdings has announced a promising uptick in sales and turnover for the 18 weeks leading up to November 3, recording growth of 6.5% and 6.8% respectively compared to the same period last year. This positive trend was observed across Woolworths’ segments, including food, fashion, beauty, and home, demonstrating a measure of resilience amid the ongoing economic challenges facing consumers. For the grocer’s South Africa market, there was, however, constrained discretionary spending by consumers, although “consumer sentiment is improving, supported by moderating inflation, the start of easing interest rates, and the prolonged suspension” of load shedding. Woolworths also said the sustained effect of high interest rates and elevated living costs continued to weigh on both retail footfall and spending for the company’s operations in Australia. Despite the constrained consumer discretionary…

Omnia Holdings’ key mining and South African agriculture segments boosted the group’s performance in the six months to September 30 with operating profit up by 17% to R802 million. Revenue also increased by 5% to R10.9 billion, while headline earnings per share rose by 2% to 288 cents. The cash position was robust at R812m. “The sustained robust growth of the mining segment and strong volumes in South Africa contributed substantially to the overall group result,” said CEO Seelan Gobalsamy. He said in an interview that the mining segment’s global growth would remain the key growth vector for the group, potentially leading to a re-rating of the share price and share value. The second-half outlook for the agricultural segment appeared promising in South Africa, as well as for expansions into…

Background checks, including citizenship status, written warnings and cancellation of business licences are among the tough measures being taken to regulate the township economy. The measures were listed in a Standard Draft By-Law for Township Economies, gazetted at the weekend. This comes after a spate of deaths of children allegedly due to the sale of contaminated food sold at spaza shops. The draft by-law will give municipalities powers to establish business zones, “creating spaces specifically tailored to retail, industrial and mixed-use enterprises”. “Any individual with a business licence may now conduct business within designated areas, subject to local quotas that ensure equitable opportunities for South African citizens and residents,” Co-operative Governance and Traditional Affairs Minister Velenkosini Hlabisa said. The law regulates designated business areas, registration and permitting of business activities,…

How powerful is the energy generated when artificial intelligence (AI) collides with scientific research? Recently, the 2024 Nobel Prizes in Physics and Chemistry were awarded to scientists in AI-related fields, which highlighted AI’s increasingly significant role in scientific research. Turing Award winner and academician of the Chinese Academy of Sciences Andrew Chi-Chih Yao believes that the future development of AI science will follow two trends: advancing from narrow AI towards general AI and enabling interdisciplinary synergies. New technologies and applications, such as embodied AI, AI-driven biomimicry and AI combined with quantum science are expected to emerge. In recent years, Chinese scientists have been exploring AI-driven scientific research across multiple fields, using AI technologies to shorten research and development (R&D) cycles and reduce costs. Electrolytes are crucial to the development of…

An independent panel that will investigate allegations of improper interference in the findings of the Wilgenhof Panel report will be led by former Constitutional Court judge Johann Kriegler. The three-member panel includes advocate Karrisha Pillay SC and professor Themba Mosia. Their appointments were made on Friday by a Joint Committee. “The members of Stellenbosch University’s Audit and Risk Committee and Social and Business Ethics Committee were mandated by the SU Council, at its meeting on November 1, 2024, to arrange and co-ordinate an independent investigation into specific allegations of impropriety made by the Chancellor Judge Edwin Cameron against the vice-chancellor professor Wim de Villiers and chairperson of Council Dr Nicky Newton-King, contained in an affidavit deposed by the Chancellor on October 29, 2024, relating to the so-called ‘Wilgenhof Report’,” said…

As the Springboks gear up for a highly anticipated showdown against England at Twickenham this Saturday, head coach Rassie Erasmus appears poised to bring back his star players. Following a convincing 32-15 victory over Scotland at Murrayfield, where Erasmus made 11 changes to the squad, the world champions will look to strengthen their line-up for what promises to be a challenging encounter against a reeling English team. The stakes are high for both teams. After suffering two consecutive losses to Southern Hemisphere rivals – New Zealand and Australia – Steve Borthwick's England side will be desperate to turn their fortunes around. The Springboks, who triumphed over England in the semi-final of last year's World Cup, are eager to compound their opponent's woes and extend their winning streak on this tour.…

In a sensational demonstration of talent, Joseph-Aukuso Suaalii made his senior rugby union debut for the Wallabies, impressing teammates and fans alike with an exceptional performance that contributed to Australia's thrilling 42-37 victory over England at Twickenham on Saturday. The 21-year-old dual-code athlete was the centre of attention as he took to the field for the first time since transitioning from rugby league just six weeks prior. Len Ikitau, Australia's experienced back, hailed his new centre partner as a "freak" following the match, highlighting the confidence he had in Suaalii prior to their encounter with England. "We saw all of what he did against England at training before. When he came into the squad he did what he needed to learn and then just went out and showcased the skills…

The IPO is the second and final step of the two-step recapitalisation plan by parent Pick n Pay Boxer Superstores, Pick n Pay’s discount grocery store chain, will list on the JSE on November 28, with a secondary listing on A2X, at a price of between R42 to R54 per share, according to the pre-listing statement released yesterday. As part of the widely anticipated Initial Public Offering (IPO), Boxer’s parent company, Pick n Pay Group, which is in the midst of a restructuring after stores in its core brand started making losses, aims to raise between R8 billion and R8.5bn through an offer of up to 202.4 million Boxer shares, or around 40% of its total issued share capital. These values imply a total market capitalisation for Boxer of between…

South Africa, as a leading industrialised country in Africa, is reported to be the largest carbon emitter on the continent, with these emissions largely stemming from coal. South Africa generates more than two-thirds of its energy requirements from coal, and coal contributes significantly to the country’s gross domestic product (GDP). Coal accounted for at least R200 billion to South Africa’s GDP, whilst creating direct employment of more than 100 000 people in the 24/25 financial year. Coal has been the main source of energy from the time it was commercially mined near Molteno, Eastern Cape, in 1864. Since then, coal has been the backbone of South Africa’s manufacturing and mining industry, fuelling the creation of industrial giants such as Iscor (now ArcelorMittal), Eskom and Sasol, and mining conglomerates like Anglo…

Amid all the uncertainty with Donald Trump’s return as the US President, the implications of his proposed trade policies have stirred concerns within the agriculture sector. The Agricultural Business Chamber of South Africa (Agbiz) yesterday warned that the suggested imposition of tariffs could leave a significant impact on the global agricultural landscape, especially if retaliatory measures were enacted by China. Wandile Sihlobo, chief economist at Agbiz, said Trump’s threat that the US may impose up to 20% tariff on all imports and 60% on goods from China should not be taken lightly. Sihlobo said such measures could rekindle a trade war reminiscent of 2018, when retaliatory tariffs led to adverse consequences for US farmers. “We don’t know how China would react to such tariffs. However, if China retaliates as it…

In the next five years we may see some of the things we’ve never seen in tech. We are likely to see the speed of innovation that we’ve never seen before. All of that will have a lot to do with new Elon Musk power. The most important question is, what’s in it for Musk? He recently supported a controversial bill in California that would have required developers of the most advanced AI models to “mitigate the risk of catastrophic harms”. Musk posted on X about the bill, which was later vetoed by Governor of California Gavin Newsom, that AI should be regulated “just as we regulate any product/technology that is a potential risk to the public”. Indeed, Musk was one of the people behind the infamous 2023 letter calling…

LIFE Healthcare, South Africa’s second- largest private hospital group, anticipates a substantial earnings boost for the financial year to September 30, it said in a trading update yesterday. Headline earnings per share (HEPS) from both continuing and discontinued operations were expected to rise between 69.4% and 77.3%, or from 149.4 cents to 156.4c. Earnings per share (EPS) from continuing and discontinued operations were projected to increase by 328.0c to 329.5c, reflecting a 1 000% rise. This was bolstered by a one-off gain of R2.8 billion from the sale of Alliance Medical Group (AMG), contrasting sharply with a R990 million impairment loss reported in 2023. Following the sale, Life Healthcare received R10.2bn in net cash proceeds, used to settle offshore debt and transaction costs, with an R8.8bn special dividend paid…

Tourism bodies have welcomed the start of the cruise season as a boost to the KwaZulu-Natal tourism economy. The Port of Durban said that they inaugurated its 2024/25 cruise season with the arrival of MSC EURIBIA last week at the Nelson Mandela Cruise Terminal. A crest exchange was held last week following the vessel’s arrival. The Transnet National Ports Authority said that cruise tourism plays a vital role in the economic landscape of the province, significantly contributing to its tourism GDP. “In the previous season, nearly 243 000 international visitors arrived in Durban via passenger liners, highlighting the City’s pivotal role as a gateway to South Africa.” Nkumbuzi Ben-Mazwi, acting Port Manager for the Port of Durban, said that the port is committed to further strengthening its reputation as a…

The Proteas have long searched for all-format batter to lead the way. Kagiso Rabada does it splendidly with the ball, but not since Faf du Plessis have the Proteas had a singular batter they could depend on across formats. It should have been Aiden Markram, but it seems the burden of leadership has blunted the skipper’s blade. The ideal candidate should possess the technique to build a substantial innings in Tests, while also having the explosive power to excel in white-ball cricket. Enter Tristan Stubbs. In the last month, Stubbs has scored his first Test and ODI centuries before his match-winning 47 not out to help the Proteas level the four-match T20I series against India at 1-1. And while T20 innings can often be lost in all the craziness, it…

Manqoba Mngqithi argued Mamelodi Sundowns have enough depth to win the Carling Knockout final, even though he’s not happy with the scheduling of the game. Sundowns will face Magesi in the Carling Knockout showdown at Toyota Stadium in Bloemfontein on November 23. Considering the gulf in quality and stature between the two sides, the Brazilians are clear favourites to come out victorious and win the second cup of the season. Unlike in the MTN8, where they were poor and bundled out in the semi-final by Stellenbosch, the Brazilians have been in beast mode in the ‘beer cup’. They’ve scored a whopping 11 goals, while keeping a clean sheets in all three games. They beat Golden Arrows, Kaizer Chiefs and most recently Marumo Gallants, to book their spot. Magesi have also…

Mamelodi Sundowns and Magesi FC have set a date for the Carling Knockout final, and attention is turning to the players who have made a significant impact leading up to this much-anticipated clash. Here, Obakeng Meletse looks at those individuals who could play a vital role in the final. Iqraam Rayners The former Stellenbosch FC striker has settled seamlessly into life on the Highveld, following his move from the Cape Winelands. Rayners has been a regular for Bafana Bafana, and has also perfectly aligned with Downs coach Manqoba Mngqithi’s plans. With an impressive tally of three goals in three matches for Sundowns, including a brace against Kaizer Chiefs in the quarter-finals, the 28-year-old will be a formidable threat for Magesi as he looks to capitalise on his current form. With…

The Upstream Petroleum Resources Development Act signed into law by President Cyril Ramaphosa on October 31 creates a robust energy sector framework for South Africa by promoting investment and diversification, said analysts yesterday. However, environmental rights groups have raised alarms, expressing concerns that the law prioritises fossil fuel exploration and development at a time when climate change demands urgent action. According to the government, this new act is designed to facilitate the “orderly development of petroleum resources” and ensure “equitable access to, and sustainable development” for previously disadvantaged groups and the state. The legislation ambitiously merges exploration and production rights, aiming to address long-standing licensing challenges through a structured application system via controlled licensing rounds. Law firm Cliffe Dekker Hofmeyr (CDH) said the signing of the new law “is part…

Raubex Group, the JSE-listed infrastructure development and construction materials supply company, celebrated its 50th year by lifting its interim dividend a sturdy 49.2% to 94 cents after strong financial performances from its diversified operations for the six months ended August 31, 2024. Headline earnings a share increased 49.8% to 284.3 cents. Operating profit was up 34.7% to R846.2 million. Revenue increased 29.7% to R10.95 billion. Cash from operations surged 111.5% to R1.54bn. Despite a share price dip of more than 5% to R44.93 yesterday, it remains 79.2% higher than the R25.02 it traded at a year ago. “It is fitting that during this period of our 50th birthday, our share price also traded above R50 a share,” said CEO Felicia Msiza. “Raubex’s results testify to the perseverance and resilience…

Artificial intelligence companies like OpenAI are seeking to overcome unexpected delays and challenges in the pursuit of ever-bigger large language models by developing training techniques that use more human-like ways for algorithms to "think". A dozen AI scientists, researchers and investors told Reuters they believe that these techniques, which are behind OpenAI's recently released o1 model, could reshape the AI arms race, and have implications for the types of resources that AI companies have an insatiable demand for, from energy to types of chips. OpenAI declined to comment for this story. After the release of the viral ChatGPT chatbot two years ago, technology companies, whose valuations have benefited greatly from the AI boom, have publicly maintained that “scaling up” current models through adding more data and computing power will consistently…

Sibanye-Stillwater CEO Neal Froneman has disclosed that the company is still navigating through a period of instability, despite having secured a wage agreement with labour unions. The agreement included a 5.5% wage increase along with a one-off payment of R900 for various employee groups, set to take effect for one year. The company plans to revisit wage discussions in July 2025 when the one-year wage agreement expires. While current conditions in the gold market have seen prices rise, South African gold producers, including Sibanye-Stillwater, are facing mounting operational costs that necessitate a strategy of cost rationalisation. In light of the recent wage agreement, Froneman emphasised the importance of balancing employee needs with the financial realities of the company’s operations. “We are pleased to have finalised this wage agreement, which…

The Transnet National Ports Authority (TNPA) has taken a major step towards revitalising South Africa’s liquid bulk sector by appointing Zutari as the Transaction Advisor for the Island View Precinct Strategy at the Port of Durban. This appointment marks a crucial move intended to enhance the security of supply while modernising the operations of one of the country’s key economic hubs. Originally sanctioned in 2019, the Island View Strategy is set for a comprehensive revision to ensure its resilience against the backdrop of a rapidly changing market landscape. Zutari’s mandate will involve scrutinising current market dynamics, re-evaluating existing strategies, and crafting a robust plan that aims to fortify sustainability and operational efficiency within the sector. The Port of Durban’s Island View precinct is a South African national key point, managing…

ActionSA has proposed regulations aimed at eliminating the ownership of spaza shops by foreign nationals, ensuring that 100% of these businesses are operated by locals. The party revealed yesterday that it is putting forward a members’ bill called the #Spaza4Locals Reserved Sectors Bill, that aims to amend and tighten regulations governing this sector. The bill is designed to ensure that the local economy benefits locals and that operations within spaza shops are strictly governed to comply with health and hygiene standards. ActionSA’s move comes after Co-operative Governance and Traditional Affairs Minister Velenkosini Hlabisa announced the gazetting of tough measures aimed at regulating the township economy. The draft by-law will give municipalities powers to conduct background checks including citizenship status, issue written warnings and cancel business licences. Party leader Herman Mashaba,…

EDUCATION experts have called for learning materials to be more challenging and creative for Grade 3 pupils to improve their numeracy skills and better prepare them for higher grades. They were reacting to a recent study by the UN Educational, Scientific and Cultural Organisation (Unesco) titled “Spotlight on Basic Education Completion and Foundational Learning South Africa”. The second instalment of the spotlight series reviewed the curriculum and teaching and learning materials. In South Africa, this review specifically focused on the framework of the Teaching Mathematics with Understanding (TMU) project as well as the content to be taught, the learning and teaching support materials (LTSM) which are stipulated in the Curriculum and Assessment Policy Statement (Caps). The study found that while the Department of Basic Education has shown a commitment to…

South African Breweries (SAB) has paid tribute to Deon Sampson, the courageous traffic officer who tragically lost his life while on duty, by unveiling a sculpture of his face as part of its campaign aimed at discouraging consumers from drinking and driving. Sampson was fatally struck by a drunk taxi driver on August 7, 2020, at a roadblock on Spine Road in Khayelitsha. While assisting his colleagues with a licence check, he moved in front of the vehicle. When the drunk driver, Luvo Mlandu, realised he was about to be arrested, he attempted to flee. Sampson was dragged for several metres before Mlandu ran over him. Four years later, SAB’s tribute not only honours Sampson’s sacrifice but also emphasises the need for responsible behaviour on the roads. SAB launched the…

THE long-standing issue of the gravel road in Ga-Rankuwa Zone 2 was among service delivery issues that were highlighted during an Imbizo hosted by the Mayor Nasiphi Moya in Region 1 at the weekend. The road has been a thorn in the side of residents since 1963, prompting protests outside Tshwane House last month. A resident, Windsor Menyuko, said residents were promised that the construction of a new road will be included in the City of Tshwane’s integrated development plan next year. “They promised us that they will put us on the IDP when they start the road for Zone 5 next year in March,” he said. He said during the protest on October 25, residents gave the City management at least seven days to visit their area. Menyuko said:…

Kwagga Smith never imagined reaching the impressive milestone of 50 Test matches with the Springboks. However, his day arrived with a triumphant 32-15 victory against Scotland at Murrayfield, kick-starting the Boks' UK tour. With this victory under their belt, Smith and his teammates are setting their sights firmly on the looming challenge of England on Saturday, a clash that promises to be their most formidable of teh three-match tour. The Springboks demonstrated resilience in the face of a determined Scottish side, with Smith playing a crucial role in dismantling the Scottish strategy, particularly in the first half. Despite some personal errors during the match, the former Blitzbok star expressed immense pride in the team's collective achievement and the momentum they built ahead of the highly anticipated encounter at Twickenham. “Playing…

In just a few days, Bafana Bafana will face their most pivotal moment in the 2025 Africa Cup of Nations qualifiers as they take on Uganda, a game that could define their journey to Morocco next year. South Africa will make the trip north to clash with table-toppers Uganda in Kampala. Hugo Broos and his charges are currently second in Group K with eight points, trailing the Cranes by two points with two matches still to play. A Thalente Mbatha added-time equaliser in September against Uganda saved their blushes and rescued them from the jaws of defeat, which would have complicated their route to AFCON 2025. Currently unbeaten in four matches, Bafana require a minimum of three points from their clashes against Uganda and South Sudan, the latter of which…