Latest news with #Mkhwanazi
The South African
3 days ago
- The South African
Three suspects killed in police shootouts after failed KZN cash heist
Police fatally shot three men suspected of a cash-in-transit heist during separate confrontations around Durban on Thursday night, 29 May 2025. According to South African Police, the suspects opened fire on the surrounding community during the failed heist. The suspects killed a bystander and wounded a child in the crossfire. KZN Police Commissioner Nhlanhla Mkhwanazi said the robbers used explosives in an attempt to access the cash vehicle's safe. However, they miscalculated the blast and failed to open it. 'Since the robbery failed, they started shooting randomly to terrorise the community nearby. This caused injuries to some people.' Police traced at least three suspects to two different areas around eThekwini. Officers engaged all three in shootouts, and all suspects were fatally wounded. During the attack, police recovered a rifle stolen from the crime scene. The firearm belonged to a Fidelity security guard. One of the suspects, previously employed by Fidelity, had been dismissed for misconduct, Mkhwanazi said. 'There's no cash heist without inside knowledge,' he explained. He added that by recovering the suspect's cellphones, police hope to download information that could link many more people involved in the crime. 'These three suspects are not the only ones involved, and we are still looking for others,' Mkhwanazi said. 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.
The Citizen
4 days ago
- Business
- The Citizen
Training authority believes this sector could be key to jobs and economic growth
Mkhwanazi said those wishing to start their own businesses were 'equipped with the skills' they needed. As South Africa's soaring unemployment numbers reach 32.9%, with youth joblessness standing at 62.4%, the Wholesale and Retail Sector Education and Training Authority (W&RSETA) is bullish about having waged an effective skills development initiative in the sector. With the W&RSETA having over the past two years sent three groups of graduates and entrepreneurs to Egypt, Turkey and China for training, beneficiaries will on Thursday hold a feedback presentation on the impact the international programmes have had in changing their lives. The skills development programmes include: The Chinese Culture and International Exchange Cross Border E-commerce project, budgeted at R23 million. W&RSETA-Elaraby Egypt TVET College appliance repair programme, budgeted for R2.3 million. Fashion Designers Turkey project, based in the country's capital Istanbul, budgeted for R680 000. 'The number of programmes that we have as a Seta, the impact has been huge – people either getting employed or starting thriving enterprises. 'We empower them with the skills so that they get employed – dealing with the issue of youth unemployment that we have in the country,' said W&RSETA CEO Tom Mkhwanazi. Encouraging entrepreneurship Mkhwanazi said those wishing to start their own businesses were 'equipped with the skills'. 'The reporting taking place in Sandton on Thursday, will largely focus on three international programmes that we have been involved in. 'These including the International Leadership Development Programme, which we have been running since 2009. 'This has benefitted more than 5 000 senior and executive leaders, with our role being to equip senior managers, especially those who are previously disadvantaged, giving them skills to thrive and become leaders in the sector. 'This also closes the existing skills gap, especially with senior managers who lack crucial skills, broaden their mindset and open up opportunities for them,' explained Mkhwanazi. ALSO READ: The dark picture of youth unemployment in South Africa He said the programme was conducted in collaboration with the University of Cape Town and Gibbs. 'We want to produce managers that have gained insight into best practices and cutting-edge innovation and technology – creating opportunities for the beneficiaries and their retailers. 'If they want to start their own businesses, they are fully empowered to do so. 'The other area that we focus on is building leaders that become role models – positioning the retail sector as a career of choice. 'A lot of young people get into the sector by accident when everything else has failed. 'Young people do not think that the sector has opportunities. ALSO READ: More than a million applications for just 44 000 school job opportunities Retail Mkhwanazi described the retail sector as 'dynamic', contributing 20% in the country's employment, 35% to the gross domestic product and having employed over 3.3 million people. 'Young people I address in townships get shocked when I talk about the existence of so many career opportunities in the sector. 'I have always said to young people I come across, that not everyone needs to be looking for a job, because for any country wishing to ramp up economic growth, it has to start by empowering small businesses,' he said. The Seta has taken a group of young local TVET college students to China for a year, to gain workplace experience on E-Commerce. Among the 82 students who have graduated from China, include: Twenty-three students who studied at the Hangzhou Polytechnic – trained in online shop management, social media content creation, logistics, marketing, customer relations and entrepreneurship. Twenty-one who studied at the Wuhan Vocational College of Software and Engineering – trained in cutting-edge e-commerce and business skills. Nineteen, trained at the Changzhou Vocational Institute of Mechatronic Technology – provided with practical and theoretical training to navigate the digital economy. Twenty students trained in the Guangdong Polytechnic – equipped with the competencies to thrive in today's global retail environment. 'We are in the Fourth Industrial Revolution and digital people – pushing young people to be exposed to skills and occupations required by the industry,' he said. NOW READ: South African youth: Mobilising for entertainment but absent in activism
IOL News
22-05-2025
- Business
- IOL News
Why local government allocations are key to enhancing property values and urban services
Lightstone's 2025 house price forecast shows modest growth, with the House Price Index (HPI) expected to reach 2.5% under the most likely mid-road scenario. Image: File According to the Budget 3.0 delivered by Finance Minister Enoch Godongwana on Wednesday, local government will receive R176.8 billion in 2025/26, maintaining a 9.5% share of nationally raised revenue. Siphamandla Mkhwanazi, a senior economist at FNB, said this is crucial for service delivery and urban management, both of which directly impact property values and investor confidence. 'That said, ongoing issues with municipal finances and accountability continue to pose a risk. The budget notes a stronger focus on improving municipal performance through Operation Vulindlela 2.0, which we are also keeping a close eye on,' Mkhwanazi said. He added that the government has committed over R1 trillion to infrastructure investment over the medium term, with R280.4 billion earmarked for community development, including R58 billion for housing, water, and electrification. He added that this is encouraging for the property sector, as infrastructure is essential for new developments. However, Mkhwanazi said about R13 billion has been scaled back due to fiscal pressures, which could then delay project rollouts. The senior economist remarked that the good news for the sector was that the budget retained the 10% increase in the transfer duty threshold, a measure introduced earlier in the year to support housing affordability. 'This is a welcome relief for first-time buyers and middle-income households, helping to stimulate demand in the residential market.' Mkhwanazi said the re-tabling of Budget 3.0 reflected the fiscal and political complexity of South Africa's current environment. He said that while the budget maintains a commitment to fiscal consolidation and infrastructure investment, it also reveals the constraints faced by the government in stimulating growth and supporting key sectors like property. 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. 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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 ✕ 'With Gross Domestic Product (GDP) growth revised down to 1.4% for 2025 (in line with our forecast of 1.3%) and debt-service costs consuming 22 cents of every rand collected, the macroeconomic environment remains challenging. "Higher borrowing costs and constrained consumer spending could dampen property market activity, particularly in the commercial and low-end residential segments,' he said. The bank's senior economist said this budget emphasised the need to crowd in private sector investment for infrastructure delivery. 'This presents opportunities for public-private partnerships in housing and urban development, but success will depend on the speed and credibility of implementation,' Mkhwanazi said. Professor Waldo Krugell, an economist from the School of Economic Sciences at the North-West University(NWU), said the government remains committed to its fiscal targets, including achieving a primary surplus, stabilising debt at a peak of 77.4% of GDP in 2025/26, and prioritising infrastructure spending. 'However, the reversal of the VAT increase and a downward revision of the growth forecast from 1.9% to 1.4% have reduced expected revenue. As a result, Treasury has had to cut R53bn in planned spending over the next three years. "This includes no provision for the Covid-19 relief grant beyond 2025, cuts to frontline services, and reduced infrastructure allocations. "To partially offset the revenue loss, the only new tax announced is a modest increase in the general fuel levy, expected to raise R3.5bn in 2025/26. Broader reforms to the budget process and state spending are under consideration,' Krugell said. Ricardo Smith, the Chief Investment Officer at Absa Investments, said in the latest South African budget, the finance minister has reaffirmed the commitment to fiscal consolidation. 'However, a downward revision in the country's economic growth outlook-driven by rising geopolitical tensions-and the reversal of the highly contested VAT increase have led to a forecast of a wider budget deficit over the next three years. "As a result, the debt-to-GDP ratio is now expected to peak at a higher level and remain elevated for longer than previously anticipated. To mitigate some of these pressures, the government has reduced spending on social benefits compared to the prior budget, while aiming to preserve funding for economic development initiatives. "Despite these challenges, the minister still expects debt levels to stabilise this year, even in the face of fiscal slippage," Smith said. Independent Media Property
Eyewitness News
18-05-2025
- Eyewitness News
9 churchgoers who died in crash on Mother's Day to be laid to rest on Sunday
JOHANNESBURG - The nine churchgoers who lost their lives on Mother's Day in a car crash in KwaZulu-Natal will be laid to rest on Sunday. It is understood that most of the victims who died in the minibus accident on the N2 after Mthuzini Toll Plaza were women. READ: Sixteen injured in Mother's Day crash that killed 8 congregants, receiving treatment in KZN hospitals The mass funeral of the Zion Christian Church congregants is taking place in Silethukukhayanya High School in Mtubatuba Municipality. The provincial transport department said that Sunday marked the final stage of mourning. Department's spokesperson Ndabezinhle Sibiya said: "We wish to draw the attention of the media to the following activities: Mkhwanazi family: this is a child-headed household following the death of Mama Winnie Nobuhle Mkhwanazi (52) on Mother's Day. The children are now orphans, with no source of income. To complicate matters, children are living in abject poverty and in a dilapidated mud house. Tomorrow, we will announce interventions by the Department of Human Settlements."
The Citizen
15-05-2025
- Business
- The Citizen
House prices are rising in SA — here's why
Factors suggest a potential shift in demand towards more affordable housing options amid increased uncertainty. The FNB Home Price Index (HPI), released on Wednesday, indicates that houses in South Africa are becoming increasingly costly due to high demand. FNB reports that house values increased by 2.2% in April, up from 2.0% in March. The bank states that this is the fastest pace in approximately two years, since March 2023. Siphamandla Mkhwanazi, senior economist at FNB, attributes the growth in house values to improved demand. Not many people are buying houses According to information obtained from the Deeds Office, the number of people buying houses remains 16% below pre-pandemic levels. Mkhwanazi attributes this transaction volume to the slow market recovery since the pandemic. However, estate agents report an increase in positive sentiment, with activity ratings reaching a three-year high in the first quarter of 2025. 'Market outcomes are still modest, as reflected in slow transaction volume growth and slightly longer selling times (from 11 weeks in the fourth quarter of 2024 to 12 weeks and one day in the first quarter of 2025),' he adds. ALSO READ: Thinking of buying your first home, here are five key issues to consider Why are people not buying houses? Mkhwanazi says despite positive sentiment, there is still caution among buyers due to the impact of the pandemic-induced cost-of-living crisis, which has been made worse by global uncertainty. 'Many prospective buyers, particularly in the affordable segments, may still face significant hurdles in the home-buying process related to affordability,' he added. However, there is a demand for affordable housing in the country. In the lower-priced segments, potential interest rate cuts by the South African Reserve Bank (Sarb) and a potential 10% increase in the transfer duty threshold could stimulate demand. These factors suggest a potential shift in demand towards more affordable housing options amid increased uncertainty. Prices to increase by 3% by 2026 He says the recent dip in consumer confidence, due to heightened global and domestic uncertainty, is likely to disproportionately impact affluent segments, potentially leading to slower sales and price stagnation. 'With the HPI averaging 1.8% year-to-date, there is an upside risk to our 1.9% forecast for 2025. We currently project house price growth to approach the 3% mark by 2026.' NOW READ: Warning for South Africans buying homes
