Latest news with #MusaZondi
IOL News
14-05-2025
- Business
- IOL News
Understanding the Banks Act exemption: MEC Zondi's insights on Ithala
KwaZulu-Natal Economic Development, Tourism and Environmental Affairs (Edtea) MEC Reverend Musa Zondi. Image: Sibonelo Ngcobo/ Independent Newspapers KwaZulu-Natal Economic Development, Tourism and Environmental Affairs (Edtea) MEC Reverend Musa Zondi has discussed issues surrounding the Banks Act exemption and the banking licence and how these affect Ithala SOC Limited. Zondi discussed the two topics during a media briefing called by the KZN government, led by Premier Thamsanqa Ntuli. Ithala SOC Limited CEO Dr Thulani Vilakazi was also present. Zondi explained that there is a provision in the Banks Act for an exemption to be granted to certain institutions, such as Ithala SOC, to operate as a fully-fledged bank without having to acquire a banking licence. 'That has been the case from day one until the powers that be decided that they were no longer going to grant it,' Zondi said. 'Denying extending the exemption to Ithala SOC may as well cause an amendment to the Banks Act to do away with the exemption regime.' Zondi said they are making Ithala operational because they are working within the law governing the banks in South Africa. 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 Next Stay Close ✕ He said he has been a parliamentarian since 1994, and from 1994, there has been a persistent call from parliamentarians that a state bank should be established. 'There has been no success to date. Ithala is the only, if you like, existing state bank which has been successful,' Zondi said. 'So why kill something that is already successful?' On Ithala's acquisition of a banking licence, Zondi explained that the reason they needed to acquire a banking licence is to comply with the current situation where the Prudential Authority has withdrawn the bank's ability to operate. 'As parliamentarians, when we drafted that Act we drafted it with state institutions like the land bank and others (in mind), will they need a commercial licence, do you need to privatise them. No, you don't need to privatise them and therefore that exemption clause was put in there,' Zondi said.
IOL News
14-05-2025
- Business
- IOL News
Unlocking job opportunities: KZN's cannabis processing facility initiative
The KwaZulu-Natal government is launching a Shared Cannabis Processing Facility to boost opportunities in the sector. Image: Pexels With grim employment statistics released yesterday, a new cannabis initiative in KwaZulu-Natal aims to unlock job opportunities, especially in rural parts of the province. The Department of Economic Development, Tourism and Environmental Affairs (Edtea) has recently detailed its plans for the sector, including a partnership aimed at piloting a Shared Cannabis Processing Facility. This project is critical, with at least one municipality, the Okhahlamba (Bergville) Municipality, hinging its hopes on it to address unemployment and boost the municipality's budget. The central focus of the project is processing cannabis into various products. Addressing unemployment needs urgent attention as Statistics South Africa's latest quarterly labour force survey, which was released yesterday, indicated that the unemployment rate has increased by one percentage point from 31.9% in the last quarter of last year to 32.9% this year. 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 ✕ Musa Zondi, the MEC for Edtea, stated that the industry presents an opportunity to enhance the rural economy. Edtea's rural economy strategy includes the formalisation and expansion of the cannabis and hemp sector, not as a side project, but as part of a centrally focused legitimate industrial activity. 'In this regard, we are piloting a Shared Cannabis Processing Facility in Bergville, in partnership with the Council for Scientific and Industrial Research (CSIR) and Industrial Development Corporation (IDC). This initiative will support oil and fibre production and incubate small growers, ensuring traditional producers enter the value chain meaningfully,' Zondi remarked recently. Okhahlamba mayor Vikizitha Mlotshwa expressed pride in their cannabis growing operation, stating it is 'excellent' and unique compared to other parts of the country. He mentioned that they have identified a facility in the area that could be used as a processing site. They have received one machine needed to process cannabis into other products and are waiting for an expert to service and assemble the machine while they work on acquiring a larger machine to process bigger volumes. 'We have received support from Edtea and other organisations. We hope to raise up to R10 million in funding in the coming months to invest in the project,' he said. 'This project started slowly; we planted, harvested, and then hosted an exhibition where many government officials came to see our progress. Edtea was one of the departments that were impressed with what they saw and committed to investing. Other entities have pledged about R5 million already.' He explained that the aim is to have the capacity to process their products. 'We want to produce about 400 products from cannabis, ranging from bath soap to lotion. We do not want to sell our product as raw material, as it yields little profit. Currently, we harvest and sell at low prices to someone who then makes real products and sells those for substantial profits.' The mayor noted that if the project works as anticipated, it could be a windfall for the youth and the municipality. 'Currently, we are facing youth unemployment close to 35%. If we launch this well, we could create jobs and reduce this to around 10%.' 'This could also be a significant boost for the municipality. We currently have a budget of R266 million, and with this project, our projections show that this could grow to nearly a billion due to the value chain that will be created,' he added. The project has been welcomed by Edtea committee members. Hannah Lidgett, DA MPL and spokesperson on Edtea, expressed support for the proposal, stating that the industry has immense potential. 'The hemp and cannabis sector could be a significant source of revenue and job creation in KZN. The shared cannabis processing facility is a fantastic project, but it must get off the ground as soon as possible. It is a step in the right direction, but we could create far more opportunities,' she said. 'The government needs to provide the support and enabling regulatory environment to allow this sector to grow. Many communities, especially in rural areas, could benefit. However, we need a comprehensive plan. I have submitted written questions to Edtea requesting whether the department has conducted research into the sector and the potential revenue and jobs it could create, as well as the plan to develop this sector given its enormous potential,' she stated. Chairperson of the Edtea committee, Mafika Mndebele, remarked that the announcement by the MEC to establish a shared cannabis processing facility in Bergville is a bold and progressive step toward unlocking the full economic potential of the rural economy. 'This initiative is not just about industrialisation—it's about localisation, beneficiation, and empowerment. Cannabis has long been part of traditional livelihoods in many rural areas. By formalising and processing it locally, we create a sustainable value chain that ensures communities are not just producers but participants in the entire economic ecosystem—from cultivation to commercial products.' 'The shared nature of the facility also promotes inclusive participation by cooperatives, small farmers, and youth-led enterprises—creating jobs, stimulating entrepreneurship, and contributing to local revenue,' he added. 'As the Committee, we will ensure there is strong oversight to avoid gatekeeping and ensure that this project becomes a model of rural industrial development, with broad-based participation and tangible benefits for the people of Bergville and the province at large," the chairperson concluded. THE MERCURY
IOL News
13-05-2025
- Business
- IOL News
Durban to flex its tourism muscles as current Africa's Travel Indaba contract reaches a conclusion
Ethekwini Mayor Cyril Xaba, KZN Tourism Board Chair Sbusiso Ndebele, KZN Tourism Acting CEO and Film Authority Sibusiso Gumbi, and MEC for Economic Development, Tourism, and Environmental Affairs Rev. Musa Zondi during a walkabout at Africa's Travel Indaba at the Durban ICC. Image: Picture: Tumi Pakkies/ Independent Newspapers The vibrant city of Durban has once again welcomed delegates from across the continent as Africa's Travel Indaba officially commenced at the Durban International Convention Centre (ICC). This year's event was graced by high-profile dignitaries, including the Deputy President Paul Mashatile, the Minister of Tourism Patricia de Lille, KwaZulu-Natal Premier Thami Ntuli and the KZN MEC for Economic Development. They were joined by Tourism and Environmental Affairs Reverend Musa Zondi, Durban Mayor Cyril Xaba, and South African Tourism CEO, Nombulelo Guliwe, who all converged to highlight the importance of tourism in driving economic growth. Durban has hosted the Indaba, South African Tourism's flagship annual event, for over three decades, solidifying its position as a key player in the continent's tourism landscape. With the current contract to host the Indaba concluding this year, the city is keen to demonstrate its value as a dynamic investment hub ready for business. Addressing delegates, Xaba declared: 'Durban is more than just a destination; it is a gateway.' He added that this year, they are projecting significant achievements, with expectations to exceed last year's figures by welcoming over 9,600 delegates and generating approximately R232 million in direct spend, injecting an anticipated R575 million into Durban's local economy. 'These numbers are not mere statistics,' Xaba emphasised. 'They are a powerful endorsement of tourism as a key driver for economic transformation in the city and the province.' This year's event is themed 'Unlimited Africa", where the focus extends beyond tourism to encompass the intertwining of culture, commerce, and community. Reverend Zondi reaffirmed the province's commitment to positioning the Indaba as a permanent fixture within its borders. 'We remain hopeful and committed to ensuring that Africa's Travel Indaba becomes a signature event on the international tourism calendar,' he noted. Tourism is not just a buzzword - it stands as a cornerstone of South Africa's economy and plays a vital role in national and provincial development strategies. KwaZulu-Natal's strategic coastal location enhances its tourism potential, making the province a frontrunner in marine and coastal tourism, heritage routes, and blue economy innovations. Ntuli also took the platform to express pride in hosting the event. He emphasised Durban's pivotal role in global tourism, highlighting that in 2024, KZN welcomed 3.2 million domestic visitors and 620,000 international guests, generating over R2 billion in revenue. 'This didn't happen by chance. It was the result of sustained effort: in infrastructure, in marketing, in partnerships,' said Ntuli. Durban is bidding for a further five-year term to host Africa's Travel Indaba. The city and its leaders are lobbying earnestly to establish it as the permanent home for this prestigious event, underscoring the critical need to promote and showcase the continent's diverse tourism offerings. In a landscape where tourism can be a transformative force, Africa's Travel Indaba serves as a pivotal platform to unite stakeholders and innovate. As delegates share ideas and forge partnerships, the prospects for African tourism shine brighter than ever, setting the stage for an era of growth and opportunity.
Daily Maverick
07-05-2025
- Science
- Daily Maverick
KZN conservation — saving at least two ‘birds' with one stone
The future looks brighter today for two critically endangered flying creatures in South Africa, thanks to the establishment of a new grassland reserve in the foothills of the Drakensberg mountains. A small but vital patch of high-altitude grassland has been officially set aside as a protected area near the town of Impendle, west of Pietermaritzburg in KwaZulu-Natal, to conserve the living space of a small insect-eating bird and an equally rare butterfly species. This comes at a time when nearly half of all bird species in the world are in decline, with more than one in eight at risk of extinction. The new iNkonjane Nature Reserve, covering just 180 hectares of land, is named after the isiZulu word for the Blue Swallow (inkonjanesibhakabhaka), immediately adjacent to the larger Impendle Nature Reserve (8,759ha). The reserve has been established by the provincial conservation agency Ezemvelo KZN Wildlife, to provide another desperately needed sanctuary area for these swallows. Ezemvelo notes that the two reserves host four (13%) of the country's estimated 30 remaining breeding pairs of Blue Swallows, so the protection afforded by the new reserve 'marks a meaningful step towards ensuring the survival of this graceful aerial insectivore'. The iNkonjane reserve has the added benefit of protecting a second critically endangered species – Pennington's Protea Butterfly (Capys penningtoni), a highly range-restricted species found only in the greater Mkhomazi River valley. This is now the third reserve in KwaZulu-Natal established specifically for the protection of threatened butterfly species. The other two reserves managed by Ezemvelo are the uMvemvane Nature Reserve and Wahroonga Farm. The butterfly's survival hinges on the presence of the common sugarbush protea (Protea caffra), the only plant on which the females lay their eggs. The caterpillars develop and pupate inside the buds, emerging nearly a year later. Dr Musa Zondi, the provincial MEC for environmental affairs, said the new reserve also conserved valuable portions of Southern KwaZulu-Natal Moist Grassland and patches of Eastern Mistbelt Forest, both of which are under mounting pressure from commercial timber farms, agriculture and other development. A further spin-off benefit is that this newly protected grassland habitat is also suitable for several other threatened species, including the Endangered oribi antelope, Endangered mountain reedbuck and Near Threatened grey rhebok. In time, Ezamvelo hopes that these species, particularly oribi antelope, can be reintroduced here. In a statement, the conservation agency said the creation of the new reserve was the result of a carefully negotiated biodiversity offset agreement between Ezemvelo KZN Wildlife and uMngeni uThukela Water regional water utility group. 'This agreement was initiated to compensate for the environmental impact of constructing a new wastewater pipeline through a portion of the Midmar Nature Reserve. Recognising the significance of the offset, the KwaZulu-Natal Nature Conservation Board made an exceptional decision to temporarily waive its policy prohibiting servitudes through protected areas. 'This concession was granted on the condition that the residual damage to Midmar's grasslands be offset through the acquisition of high-conservation-value land and its incorporation into the provincial protected area network.' There will be no fences separating the iNkonjane and Impendle reserves, which will allow the free movement of wildlife and the integrated management of a larger conservation unit, allowing for greater ecological resilience. 'The addition of iNkonjane Nature Reserve to the protected area estate brings the area of land managed by Ezemvelo to 518,628ha – about 5.5% of the province and the total protected area extent to 1,016,769ha, or 10.78% of the province. 'While still below the global conservation target of 30% land protection, each new reserve marks significant progress toward South Africa's international biodiversity commitments.' The announcement also coincides with World Migratory Bird Day (10 May), an international educational and awareness-raising campaign that promotes conservation efforts for migratory birds and their journeys across borders. For more details, visit DM
IOL News
05-05-2025
- Business
- IOL News
KZN's informal economy masterplan aims to empower township businesses
The Department of Economic Development, Tourism and Environmental Affairs has finalised the KZN Informal Economy Masterplan, which aims to boost the informal or township economy. The Department of Economic Development, Tourism and Environmental Affairs has finalised the KZN Informal Economy Masterplan, which aims to boost the informal or township economy. Speaking recently while tabling his budget for the 2025 financial year, MEC Musa Zondi said, 'We have always recognised the pivotal role that the township and rural economy plays in the broader economic development strategy of KwaZulu-Natal. 'We are pleased to announce that we have finalised the KZN Informal Economy Masterplan: a blueprint to formalise, support, and elevate informal businesses through licensing systems, compliance support, and investment in shared infrastructure.'
