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Pretoria News

2021-12-01

Pretoria News is a newspaper appearing in the city of Pretoria, in the Tshwane Metropolitan area, every day from Monday to Friday. The Pretoria News offers comprehensive coverage of local news, as well as national and international news, comment and analysis by experts, sport, entertainment and lifestyle. The daily Tonight supplement highlights what’s happening on the entertainment front. Other popular regular features include Consumer Watch, Metro Watch, Food for Thought, What’s On and a weekly Motoring supplement. Business Report, South Africa’s national financial daily, is an important addition for decision-makers. The Classifieds include the popular Workplace on Wednesdays, and the weekly Thursday Motoring supplement is not to be missed.

Country:
South Africa
Language:
English
Publisher:
Independent Media Pty Ltd
Frequency:
Daily
$9.99 per month after trial

in this issue

3 min
unemployment rate is likely to worsen amid strong headwinds impact of travel bans, energy crisis, rising inflation and covid fourth wave

Siphelele Dludla 1iphelele.dludla@inl.co.za UNEMPLOYMENT in South Africa is expected to worsen further before the end of the year as the economy continues to face strong headwinds from travel bans, the energy crisis, rising inflation and a looming Covid-19 fourth wave amid the Omicron variant. Statistics South Africa (StatsSA) released grim figures yesterday, showing that unemployment hit new record levels after rising by 0.5 percentage points to 34.9 percent in the third quarter of 2021. This is the highest unemployment rate in the country in 13 years, following another record high of 34.4 percent in the second quarter. The job losses could have huge implications for the country’s fiscus as the personal income tax base shrinks and household consumer spending becomes constrained, forcing the government to spend…

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2 min
african bank swings into annual profit from year earlier

Dineo Faku dineo.faku@inl.co.za AFRICAN Bank swung to a profit during the year ended September 2021 from a loss a year earlier and unveiled its 2025 strategy aimed at ensuring the bank remains relevant in a competitive environment. African Bank yesterday reported a net profit after tax of R534 million compared to a reported loss of R27m for the same period last year. Chairperson Thabo Dloti said the bank’s results, while encouraging, remained significantly lower than the 2019 financial year’s pre-pandemic results of a profit of R1.2 billion. “This slower return to pre-pandemic profitability levels is mainly due to a slower-than-expected recovery of the South African economy and the conservative, but necessary, stance adopted by the group towards credit advancement,” Dloti said. On the positive side, he said, the…

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1 min
rand recovers to below r16-mark as markets shrug off the concerns about omicron

THE RAND YESTERDAY surprised on the up as it dipped below the R16-mark as the markets shrugged off the latest develop- ments around the Covid-19 Omicron vari- ant and the record unemployment numbers. Statistics South Africa (StatsSA) yesterday revealed that the unemployment rate had escalated to 34.9 percent in the three months to September, the highest level since 2008. StatsSA said 660 000 people lost their jobs during the third quarter, with the number of discouraged work seekers dramatically increasing by 545 000. Currently, there are more than 7.6 million people of working age who are unem- ployed in South Africa. Despite this, the rand made a spectacular recovery following a retreat to R16.21 to the dollar earlier in the day as caution lingered in markets after…

2 min
ayo ready for more acquisitions despite a tough 2021 financial year

Edward West edward.west@inl.co.za ICT TECHNOLOGY investment group AYO Technology Solutions posted muted results for the year to August 31, after facing many challenges, including to its reputation, and the effects of Covid-19 on the economy. Notwithstanding this, a final divi- dend of 30 cents per share was declared, which brought the total dividend for 2021 only marginally lower to 95c from 100c in 2020. Chief executive Howard Plaatjes said yesterday that the pandemic triggered reductions in IT spend, leading to a loss of some customers and non-renewal of maturing contracts, which affected the bottom line. This was exacerbated by the material adverse impact of unwarranted media attention and hangover from the Mpati commission on the group’s reputation. However, he said they had maintained a positive attitude, the balance sheet…

2 min
vukile resumes dividend payment, market guidance

Edward West edward.west@inl.co.za VUKILE Property Fund has returned to paying interim dividends, declaring 40.56 cents per share for its half-year to September 30. The specialist retail real estate investment trust also resumed market guidance, providing a forecast for its full-year dividend of at least 80c per share. The resumption of dividends follows a resilient interim performance by Vukile’s shopping centre assets. Vukile’s assets of R33.4 billion are 49 percent held in South Africa and 51 percent in Spain through its 82.5 percent held Madrid-listed subsidiary Castellana Properties Socimi. Chief executive Laurence Rapp said yesterday that the fundamentals of both businesses remained positive with highly diversified income streams provided by some of the leading retail businesses. He said Vukile’s focus on operational excellence and building new…

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2 min
christine quinn slams ‘beyond sick’ trolls who said her pregnancy was fake

| Bang Showbiz Christine Quinn has blasted trolls who have accused her of faking her traumatic pregnancy. The Selling Sunset realtor was forced to take to social media to call out the “beyond sick” messages she had been inundated with in her DMs, after her dramatic birthing experience with her son, Christian Georges Dumontet – who was born via an “emergency crash C-section” in May – was featured in the latest season of the hit Netflix series. Sharing one of the messages she received, Quinn responded: “K y’all are beyond f****** sick”. On Twitter, the 33-year-old reality star demanded those who disrespected her to apologise. “For all y’all still mad on pregnancy gate, please go look at my IG stories. And apologise. This is seriously so hurtful.” One of…

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