No VAT hike but consumers still feel the pinch
JOHANNESBURG - After two delays, the much-anticipated 2025 Budget Speech was finally delivered this week.
While headlines focused on the scrapped VAT hike, South African consumers may still be in for a financial squeeze.
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The South African
3 hours ago
- The South African
Updated OUTLOOK for July 2025 SASSA Old-Age Grants
After last week's payout, July 2025 SASSA Old-Age Grants will remain unchanged for next month. As it stands, over 75s who receive July 2025 SASSA Old-Age Grants will be benefiting from the highest-paying grant in the country. And it is for this reason that October 2025 increases are uncertain. Nevertheless, the first social welfare payout in the second half of the year will go ahead in just three-weeks from now, on Wednesday 2 July 2025. As mentioned, over 75s can expect R2 330 deposited into their bank accounts. While beneficiaries aged 60-74 can bank on R2 310 to help make ends meet. Although by only a few days, July 2025 SASSA Old-Age Grants are paid slightly earlier than usual next month. Image: File As we've been tracking throughout the year, the South African Social Security Agency has rarely been out of the spotlight. It started in January when the High Court ruled that SASSA cannot excluded applicants purely to satisfy budget constraints. Then February was overwhelmed by the National Treasury's inability to nail down an official budget for the year. While this happened, SASSA went ahead with annual increases in April 2025. The Finance Minister confirmed these would be higher than inflation, but that was posited on government's proposed VAT increases. Therefore, in May and June, when a second fiscal budget was overturned, there was plenty of consternation over whether 2025 SASSA grant increases may be reversed. However, the social welfare budget for 2025/26 (R280 billion) thankfully remains, so July 2025 SASSA Old-Age Grants can go ahead as usual. It's still unconfirmed whether SASSA Old-Age Grants will increase again in October 2025, like they have done previously? Image: File If you're over 60, applicants secure their July 2025 SASSA Old-Age Grants by visiting a branch during office hours (Monday to Friday 08h00 to 17h00). Be sure to bring the following along with you: South African identity document (ID) – smart card or green booklet. Documents proving marital status. Proof of residence (a utility bill with your name on it qualifies). Confirmation of proof of income and/or financial dividends. Any information regarding your assets, including a valuation of property. Declaration of any private pension in your name (if applicable). Valid three months' statements certified by your bank (not more than three months old). Unemployment Insurance Fund (UIF) membership book, or discharge certificate from your previous employer. A copy of your will, and first and final liquidation and distribution accounts if your spouse has passed away in the last five years. It is imperative that you keep your SASSA profile up to date (especially if you move) so you don't trigger a verification process against you. Image: File The Department of Social Development (DSD) has instigated strict mandatory checks to ensure no one is stealing taxpayer money. These involve double-checking your details with Home Affairs, Correctional Services, and Unemployment Insurance Fund. Likewise, there is a strict identity (via biometrics), means and asset test for all new grant applicants. As many as 200 000 clients have had to verify their details at a SASSA branch and had their grants withheld without review. Critically, the agency only wants those who do not have sufficient means through a private pension, savings and personal assets, to apply for July 2025 SASSA Old-Age Grants. As such, SASSA officials will enforce the following income and asset limits on your application: You must earn less than R8 070 per month ( R96 840 per year) if single. per month ( per year) if single. Earn less than R16 140 per month ( R193 680 per year) if married. per month ( per year) if married. Your total assets must not be less than R1 372 800 if single. if single. If married, your total assets must be less than R2 745 600. If you are unsuccessful in applying for July 2025 SASSA Old-Age Grants, you have 90 days to appeal by clicking HERE and completing all relevant documents. Can you believe we're already into the second half of the year? Check out these all-important payment dates below. Image: File Be sure to diarise the remaining payment dates for July 2025 SASSA Old-Age Grants and beyond: JULY – Wednesday 2 July 2025 AUGUST – Tuesday 5 August 2025 SEPTEMBER – Tuesday 2 September 2025 OCTOBER – Thursday 2 October 2025 NOVEMBER – Tuesday 4 November 2025 DECEMBER – Tuesday 2 December 2025 Likewise, take note of these important SASSA contact details for your region if you cannot get assistance through the main SASSA numbers: SASSA toll-free number: 080 060 1011 SASSA WhatsApp number: +27 82 046 8553 SASSA Eastern Cape: 043 707 6300 SASSA Gauteng: 011 241 8320 SASSA Mpumalanga: 013 754 9446 SASSA Limpopo: 015 291 7509 SASSA North West: 018 388 4006 SASSA Free State: 051 410 8339 SASSA North West: 053 802 4919 SASSA KwaZulu-Natal: 033 846 3324 SASSA Western Cape: 021 469 0235 Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
IOL News
10 hours ago
- IOL News
CEO caught on video admitting fraud - but it's a deepfake
The use of deepfake technology has become one of the most powerful tools fueling disinformation, says the writer. Image: Supplied Artificial intelligence has now made it possible to wake up to a video of your CEO seemingly admitting to fraud or receiving an urgent audio message from your CFO authorising a large, unexpected transaction, without any of it being real. Deepfakes aren't limited to criminal use cases targeting individuals or governments – they represent a sophisticated and escalating threat to corporations globally, including South Africa. Disinformation using deepfake technology The use of deepfake technology has become one of the most powerful tools fueling disinformation. The rise in AI and machine learning embedded in commercially available tools such as generative adversarial networks (GANs) has levelled the playing field and increased the sophistication of deepfake content. Cybercriminals, disgruntled insiders, competitors, and even state-sponsored groups can leverage deepfakes for devastating attacks, ranging from financial fraud and network compromise to severe reputational damage. The South African reality: A threat amplified The threat itself, however, is not fake; it's manifesting tangibly within South Africa. The South African Banking Risk Information Centre (SABRIC) has issued stark warnings about the rise in AI-driven fraud scams, explicitly including deepfakes and voice cloning used to impersonate bank officials or lure victims into fake investment schemes, sometimes even using fabricated endorsements from prominent local figures. With South Africa already identified by Interpol as a global cybercrime hotspot, estimating annual losses in the billions of Rands, the potential financial impact of sophisticated deepfake fraud targeting businesses is immense. There are also implications for democracy as a whole. Accenture Africa recently highlighted how easily deepfakes could amplify misinformation and political unrest in a nation where false narratives can already spread rapidly online – a critical concern when it comes to elections. Furthermore, the 'human firewall' – our employees – represents a significant area of vulnerability. Fortinet's 2024 Security Awareness and Training Global Research Report highlights that 46% of organisations now expect their employees to fall for more attacks in the future because bad actors are using AI. Phishing emails used to be easier to identify because they were poorly worded and contained multiple spelling errors, but they led to successful breaches for decades. Now, they're drastically more difficult to identify as AI-generated emails and deep-fake media have reached levels of realism that leave almost no one immune. 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 ✕ William Petherbridge, Systems Engineering Manager at Fortinet Image: Supplied Who targets companies using deepfakes? Numerous types of malicious actors are most likely to target companies using deepfake technology. Cybercriminals who have stolen samples of a victim's email, along with their address book, for example, may use GenAI to generate tailored content that matches the language, tone and topics in the victim's previous interactions to aid in spear phishing – convincing them to take action such as clicking on a malicious attachment. Other cybercriminals use deepfakes to impersonate customers, business partners, or company executives to initiate and authorise fraudulent transactions. According to Deloitte's Center for Financial Services, GenAI-enabled fraud losses are growing at 32% year-over-year in the United States and could reach $40 billion by 2027. Disgruntled current or former employees may also generate deepfakes to seek revenge or damage a company's reputation. By leveraging their inside knowledge, they can make the deepfakes appear especially credible. Another potential deepfake danger may be from business partners, competitors or unscrupulous market speculators looking to gain leverage in negotiations or to try to affect a company's stock price through bad publicity.
TimesLIVE
11 hours ago
- TimesLIVE
Some good news, please
As a South African, it's easy to feel worn down by bad news. Corruption, unemployment, crime, service delivery failures – the list goes on. However, this is what makes the franchising sector, of all things, such a glimmer of hope. By connecting entrepreneurs with established brands and proven systems, South Africa's hundreds of franchise outlets create employment for tens of thousands of people and contribute massively to our economic output. It's an engine for small business growth, which is ultimately what will lift our country out of the bad news and into a brighter future. We kick off this issue of Franchising with the Franchise Association of South Africa, looking at the facts and figures of the sector's economic contribution, along with the organisation's plans and partnerships to grow this throughout the coming year. With supply chains once again in the spotlight due to the impact of the United States' tariff war, we consider the question of who controls the supply chain in a franchise arrangement and how this can impact business operations. We examine social franchising, which takes the principles of franchising and applies them to social upliftment causes and learn some lessons from the rebranding of seafood restaurant John Dory's. To wrap up, we look at World Franchise Day and some of the top business performers across the country. Because we all deserve a little good news, don't we? Browse through the full magazine below (zoom in or go full screen for ease of reading):
