Annual headline earning grow 30% to R13.7bn
JOHANNESBURG - Capitec has released it annual results.
WATCH | Capitec headline earnings increase by 36% to R6.4bn
It reported a 30% increase in headline earnings to R13.7 billion rand, thanks to reasons including the bank's diversification.
Outgoing CEO, Gerrie Fourie spoke to eNCA.
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The Johannesburg Roads Agency plans to complete rehabilitating the Lilian Ngoyi Street in Johannesburg by the end of August 2025. Image: Itumeleng English / Independent Newspapers The City of Johannesburg has set aside R6.4 billion to repair and maintain its aging infrastructure and plans to complete rehabilitating Lilian Ngoyi Street (formerly Bree Street) by the end of August. Margaret Arnolds, the municipality's Finance MMC, announced the plans on Wednesday when she tabled the R89.4 billion budget for the 2025/26 financial year. 'The city has established an expanded maintenance budget for water and electricity infrastructure, recognising that prevention is more cost-effective than repair. 'The repairs and maintenance budget amounts to R6.4bn, 7% of the property plant and equipment budget, and this will increase over the medium term to 7.2%,' Arnolds said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ She stated that 47% of the budget will go towards asset renewal, which augments the repairs and maintenance budget by bringing a new lease of life to aging infrastructure, and that by the third year, this will increase to 58% of the budget. Additionally, Arnolds explained that as part of the municipality's commitment to rebuilding a safe, resilient, and inclusive inner city, the first phase of the Lilian Ngoyi Street rehabilitation will be completed by August 30, 2025. The project is led by the Johannesburg Roads Agency and represents more than just the repair of critical infrastructure, according to the African Independent Congress councillor. 'It is a bold investment in urban renewal, economic revitalisation and public safety. We are restoring a vital artery,' Arnolds said. In July 2023, the busy street was damaged after a gas explosion that left one person dead and over 40 injured. Arnolds said the city's top priority was restoring basic services. 'We heard our residents, those waiting for refuse to be collected, for water leaks to be fixed, and for power outages to end. That is why the city has implemented a service failure tracking system through the war room. This centralised hub monitors water leaks, electricity disruptions, refuse non-collection, and road damage in real time,' added Arnolds. She said the war room allows for rapid deployment of resources to high-complaint areas and integrates data from all municipal entities for decisive action. Arnolds added that the city has operationalised a cross-cutting war room that functions as an executive oversight and early-warning mechanism over the past year.
