Latest news with #COSATU
The South African
a day ago
- Business
- The South African
Paul Mashatile scrutinised over Constantia mansion affordability
Like many South Africans, former COSATU general secretary Zwelinzima Vavi has questioned how Deputy President Paul Mashatile can afford to stay in not one, but three homes worth around R65 million. This week, the 64-year-old officially declared ownership of a R28 million Constantia villa after years of speculation. Mashatile also owns residential homes in Midrand and Kelvin, in Johannesburg. In an X post, Zwelinzima Vavi posted his calculations of how Paul Mashatile could afford just one of his properties – a R28 million Constantia Upper villa. Mashatile earns R3.2 million per annum on his deputy president's salary. Vavi posted: 'Estimated monthly take-home pay: R 161,200. Monthly bond repayments range from R 248,000 to R 280,000, significantly exceeding his take-home pay.' He added: 'No bank will approve the loan based on the government salary. So there has to be another income from elsewhere'. According to luxury real estate agent Gary Phelps, Paul Mashatile's home comes with a hefty upkeep. Speaking to eNCA , he stated that this included rates and taxes up to R40 000 a month, excluding essential maintenance services. A mortgage would cost at least a quarter of a million rand a month. 'You've got to earn about R1.2 million a month to qualify to buy this house,' Phelps added. Deputy President Paul Mashatile's Constantia mansion. Images via Seeff Properties/ Instagram: @humile_mashatile Inside Paul Mashatile's multi-million rand home. Images via Mashatile also owns a R39 million mansion in Waterfall in Midrand, and another in Kelvin, Johannesburg. According to an official financial interests report, Paul Mashatile had no other assets or businesses to declare, barring a pension fund and an Old Mutual investment trust. Mashatile has repeatedly denied any direct ownership of his Cape Town and Johannesburg homes. The Deputy President previously stated that the Constantia villa had been acquired via his son-in-law, Nceba Nonkwelo, who is married to his daughter, Palesa. He also claimed that his Waterfall estate had been'purchased jointly by his sons and son-in-law – who is reportedly under investigation by the Hawks – through a normal bank loan' and is 'used as a family residence due to its enhanced security.' Mashatile's spokesperson, Keith Khosa, also denied allegations that Mashatile's sons Thabiso and Tinyiko were linked to multi-million rand government tenders acquired through departments he previously managed. Last year, the DA laid criminal charges against Paul Mashatile on allegations of corruption, nepotism, and patronage, claiming that the Deputy President was the ultimate beneficiary. 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.
Eyewitness News
2 days ago
- Business
- Eyewitness News
Some trade unions warn G20 govts to avoid reneging on promises to reform labour policy
JOHANNESBURG - Some trade unions have issued a stern warning to governments from the G20 member states to avoid reneging on promises to reform labour policy, with union federations re-tabling some demands. Four major federations, the Congress of South African Trade Unions (COSATU), the Federation of Unions of South Africa (FEDUSA), the South African Federation of Trade Unions (SAFTU) and the National Council of Trade Unions (NACTU), wrapped up the 2025 Labour 20 Summit in George on the sidelines of the G20 employment working group meeting on Wednesday. The gathering comes as workers, especially in the global south, continue to face spiralling inequality, stubborn unemployment and deepening climate devastation. Unions said that at the heart of the L20 programme was the need to reclaim and rebuild multilateralism, demand a new social contract and reverse the decline in labour's share of income. The four union federations believe any global recovery that excludes workers is a blueprint for deeper inequality. Part of the demands are labour law reforms, expanded labour inspections, ratification and implementation of all instruments by the International Labour Organisation and inclusive social protection. The unions want climate finance to reach communities, with further calls for public investment, social dialogue, adjustment costs, and job guarantees as pillars of green industrial policy. They said polite promises from governments won't be tolerated without the ability to rebuild power on the shop floor, at national bargaining councils, in global supply chains, and in every policy space.
The Star
5 days ago
- Business
- The Star
COSATU urges unity as racial rhetoric threatens South Africa's AGOA trade benefits
Thabo Makwakwa | Published 2 days ago The Congress of South African Trade Unions (COSATU) has issued a strong call for organisations across the country to tone down on divisive and destructive rhetoric that fuels racial tensions. The organisation stressed the importance of unity as South Africa seeks to renew the African Growth and Opportunities Act (AGOA) with the United States. In a statement released on Friday, COSATU's parliamentary coordinator, Mathews Parks, highlighted the potential consequences of inflammatory discourse, warning that "the malicious decampaigning of South Africa in the US will come at a real cost to all South Africans, particularly Afrikaans farmers and workers." COSATU's call comes amid the US' annual review of AGOA member eligibility, a critical process determining whether South Africa and other nations will retain preferential trade benefits. Parks expressed the federation's support for renewing AGOA before its expiry at the end of September, highlighting its significance for South Africa's economy. 'AGOA has been an important stimulant for key jobs and revenue-rich sectors such as mining, agriculture, motor manufacturing, and more,' Parks said. 'It has facilitated trade and investment between the US and South Africa, with over 600 American companies invested here and 500,000 South African jobs linked to US trade. It's a framework that benefits both nations and the continent.' He further noted that South African vehicle exports, including components like steering racks from Tunisia and rubber from Côte d'Ivoire, demonstrate the interconnectedness of regional trade, which AGOA has helped to facilitate. Parks stated the importance of a mutually beneficial trade agreement, highlighting opportunities for expanding product inclusion, supporting emerging sectors, and strengthening cooperation on the African Continental Free Trade Area (AfCFTA). COSATU expressed the positive reception of its proposals in Washington and lauded the solidarity shared with American labor movements, especially the AFL-CIO. The federation pledged to continue working closely with the South African government, business sectors, and US counterparts to deepen bilateral relations—while respecting sovereignty and promoting sustainable economic growth. 'Progress under President Cyril Ramaphosa's leadership to reset bilateral relations is encouraging,' Parks stated. 'However, it is vital that all parties support these efforts and refrain from inflammatory language that undermines social cohesion.' The federation strongly urged organisations such as AfriForum, NEASA, Sakeliga, and the Freedom Front Plus to prioritise national unity over partisan point-scoring. 'Whilst social media clicks may entertain friends over a braai, the malicious decampaigning of South Africa in the US will come at a real cost to all South Africans, in particular Afrikaans farmers and workers.' Parks stated that legitimate grievances should be addressed through constitutional and legal channels like Parliament, the judiciary, or law enforcement, rather than through rhetoric that incites racial divisions. 'Now is the time to shed narrow racial interests and place the nation's needs first,' he asserted. 'Partisanship has its place during elections, but the current climate demands maturity and responsibility from all stakeholders. Meanwhile, In a letter dated February 11, 2025 Republican congressmen Andrew Ogles, Tom Tiffany, Joe Wilson and Don Bacon asked President Donald Trump to revoke South Africa's access to the US market through AGOA and diplomatic relations alleging that South Africa had a vendetta against Israel, allegedly committing human rights violations and was friendly with China's Community Party. [email protected] IOL Politics
Eyewitness News
09-07-2025
- Politics
- Eyewitness News
COSATU joins calls for establishing inquiry into corruption allegations against police, judiciary
CAPE TOWN - The Congress of South African Trade Unions (COSATU) has joined calls for the establishment of a commission of inquiry into allegations of corruption levelled against the police and judiciary. The union federation said the allegations made by KwaZulu-Natal Police Commissioner Nhlanhla Mkhwanazi linking Minister Senzo Mchunu to the criminal underworld are too serious and undermine confidence in law enforcement. ALSO READ: - Mkhwanazi names man with alleged links to Mchunu as central to meddling in police cases - Mkhwanazi raises concerns about classified police files being compromised by outsiders - Mkhwanazi alleges political involvement in cases being investigated by the police COSATU's call followed a similar call by Police Portfolio Committee chairperson Ian Cameron, who also wants an independent probe. Cameron on Monday gave a list of suggestions on how to get to the bottom of the allegations made by Mkhwanazi, which includes lifestyle audits of all senior police. 'Some of the following immediate solutions could be considered and this is specifically regarding the integrity challenges within the South African Police. "The first one is an appointment of some kind of an ad hoc inquiry or commission with a clear timeline to investigate the allegations.' COSATU parliamentary coordinator Matthew Parks said given the 'grave nature of the allegations', the federation also urged President Cyril Ramaphosa to appoint an independent commission of inquiry. He said while South Africans may be wary of another inquiry, the nature of the allegations 'cannot be left unattended and would best be done by an independent inquiry'. Parks also said the federation supports Ramaphosa's appeal for calm as he returns from Brazil to attend to the matter.
Eyewitness News
02-07-2025
- Business
- Eyewitness News
Malema's private member's bill to nationalise SARB gets mixed reaction during public hearings
Babalo Ndenze 2 July 2025 | 11:33 FILE: EFF leader Julius Malema in Parliament. Picture: Parliament/Phando Jikelo CAPE TOWN - Economic Freedom Fighters (EFF) leader Julius Malema's private member's bill aimed at nationalising the South African Reserve Bank (SARB) has a received a mixed reaction during public hearings. Some organisations like labour federation, COSATU, voiced support for Malema's South African Reserve Bank Amendment Bill, while others warned that it could have serious repercussions for the economy if the current model was tampered with. COSATU, the National Treasury and other organisations made submissions before the Standing Committee on Finance on Wednesday, seven years after the bill was first introduced in Parliament. The Standing Committee on Finance continued public hearings on Malema's private member's bill, which was submitted in bill aims to amend the South African Reserve Bank Act and proposes changes to the appointment of the bank's directors. The bill also wants the state to be the sole shareholder of the central bank, which has two million shares held by private and foreign investors. COSATU's Tony Ehrenreich said that they supported this move. "The ownership of the South African Reserve Bank must only be vested with the state in line with international norms." But Christopher Axelson, National Treasury's deputy director-general for tax and financial sector policy, said they don't support the bill, warning that it could have serious implications. "The governance arrangements could also be weaker and may negatively impact the independence of the SARB and so we don't support the bill." The committee will now further process the submissions before a motion on the bill's desirability is considered.
