Latest news with #PSHA
Daily Maverick
05-08-2025
- Business
- Daily Maverick
Landlords threaten legal action as NSFAS fails to pay R62m in student accommodation fees
The National Student Financial Aid Scheme (NSFAS) has left private accommodation providers in crisis after not paying R62-million in rent, which in some cases dates back to January 2024, causing landlords to default on municipal bills and delay staff salaries, increasing the risk of student evictions. The NSFAS has once again found itself in financial trouble with private accommodation providers after landlords claimed they are owed R62-million in unpaid accommodation fees dating back from January 2024. According to the landlords, this affects 2,797 beds across a wide range of universities and Technical and Vocational Education and Training colleges. Earlier this year, Daily Maverick reported that the Private Student Housing Association (PSHA), which represents developers, institutional owners, and operators managing more than 80,000 student beds nationwide, said members were owed R44-million in overdue rental fees; this has now increased to R62-million. PSHA CEO Kagisho Mamabolo told Daily Maverick that the delays in NSFAS accommodation payments stemmed from a combination of systemic inefficiencies, including unresolved validations, data mismatches and institutional delays in uploading accommodation confirmations. 'The impact has been financially devastating for many providers, particularly small and black-owned operators who lack access to working capital. Delayed payments have hindered maintenance, security, and student support services. Landlords are defaulting on municipal bills, mortgages or staff salaries. Several members have signalled possible closure, and new developments in the sector have been stalled or cancelled,' said Mamabolo. He added that on 28 July 2025, PSHA held a formal consultation and reconciliation meeting with a NSFAS team, led by the acting senior manager for student accommodation, Sivuyile Tshiwula. Mamabolo said NSFAS would begin a validation process of the arrears, and that they would give NSFAS until the end of the month to process the outstanding arrears. 'Should NSFAS fail to meet its obligation to validate and settle verified arrears within 30 calendar days, as committed in the 28 July 2025 consultation, PSHA will instruct legal counsel to initiate litigation proceedings and apply to attach NSFAS assets and bank accounts to recover the debts owed to our members. This action will be taken to protect the financial sustainability of housing providers and the continued accommodation of thousands of NSFAS-funded students across the country,' said Mamabolo. Lack of communication Daily Maverick spoke to the landlords who own Urban Circle, a private accommodation that houses students from the University of Johannesburg and the University of the Witwatersrand. Saul Mayers and Rowan Lewis said that the arrears owed from 2024 were approximately R14.2-million. One of their buildings, Drivelines, had a monthly rent of R745,000. 'In instances where University of Johannesburg and Wits distribute the money, we get paid. So in the instance where NSFAS has to distribute the money, we're getting no funds. I've got 134 students in a specific building who are University of Johannesburg NSFAS students. And University of Johannesburg cannot allocate the money for them; it has to come directly from NSFAS, and it's just not being paid,' said Lewis. Mayers added: 'Since there's a new board of directors at NSFAS, they have been sending emails and official communications confirming that 2024 arrears will be paid by a certain date, and now they have stopped sending notices, and we haven't received any of the 2024 arrears.' Mamabolo told Daily Maverick that no formal student evictions had been reported, but the risk was increasing. Without urgent intervention, student accommodation in some areas may become severely constrained. NSFAS's 5% commission system In May 2025, MPs grilled NSFAS over the use of four service providers who were meant to conduct the accreditation of properties whose owners had applied to the scheme's accommodation platform. The service providers received a 5% commission from landlords for every NSFAS transaction. Mamabolo said this reduced the net income received by landlords. NSFAS mandates property registration (names, locations, images) for student housing. It then accredits and grades properties. Frustration arises from intermediaries charging landlords 5% of NSFAS payments. 'This model has caused delays in payment processing, confusion over disbursement timelines, and reduced financial viability for providers already operating under capped rental limits. The Private Student Housing Association strongly opposes this model and continues to advocate for direct landlord payments, coupled with rigorous compliance monitoring,' said Mamabolo. Daily Maverick sent questions to NSFAS spokesperson Ishmael Mnisi and CEO Waseem Carrim on 31 July 2025, regarding the non-payment of landlords and the effect this would have on students. Daily Maverick followed up with the pair on 4 August.
Yahoo
04-03-2025
- Business
- Yahoo
Solaris Signs Letter of Intent with Influential Indigenous Organization in Morona Santiago, Ecuador
HIGHLIGHTS: Solaris has formed an Inter-Institutional working group with the Arutam Shuar People ('PSHA'), ratified through the signing of a Letter of Intent ('LOI') The Company has formed an Inter-Institutional working group with the PSHA, together with our host communities of Warints and Yawi and the Ecuadorian State The PSHA and its Governing Council ratified this process through the signing of a LOI aimed at advancing dialogue in order to reach a future cooperation agreement Expanded Infill resource drilling programme at Warintza has been concluded An updated MRE, expected to be published mid-2025, will encompass over 80,000m of drilling The updated MRE will be included into the Pre-Feasibility Study, due to be released in Q3 2025 QUITO, Ecuador, March 04, 2025 (GLOBE NEWSWIRE) -- Solaris Resources Inc. ('Solaris' or the 'Company') (TSX: SLS; NYSE: SLSR) is pleased to announce the formation of an Inter-Institutional working group together with the Pueblo Shuar Arutam organization ('PSHA'), our host communities of Warints and Yawi and the Ecuadorian State. As part of this, the PSHA and its Governing Council approved the signing of a LOI. As an influential indigenous organisation operating in Morona Santiago outside of our direct area of influence, this important step forward highlights the fundamental progress the Company has made through embracing an open dialogue and partnership rooted in trust, understanding, and mutual respect, encompassed within the Warintza participatory mining model. On January 18, 2025, at the Yawi Shuar Center, the PSHA resolved to form the working group and on February 5, 2025, ratified this process by the signing of the LOI with Solaris. This further builds on the support we enjoy from our host Shuar Centres of Warints and Yawi with whom the Company shares an Impacts and Benefits Agreement ('IBA'), first signed in September 2020, updated in March 2022 and then again in April 2024, as well as a trilateral cooperation agreement with the Interprovincial Federation of Shuar Centers ('FICSH'), the highest authority and largest Shuar indigenous organization in Ecuador and with the Alliance for Entrepreneurship and Innovation of Ecuador ('AEI') of Ecuador. Further, the Company is pleased to announce the conclusion of its infill drilling programme, encompassing over 75,000m in 2024 and a further 5,000m in early 2025, which will form the basis for the updated Mineral Resource Estimate ('MRE'), expected mid-2025. The primary focus of the programme was to convert Inferred mineral resources to Measured and Indicated; and expand the remaining uncategorized areas within the pit shell that will support the PFS expected in Q3 2025. Matthew Rowlinson, President and CEO commented, 'At Solaris Resources, we believe that sustainable mining is not just an economic endeavour; it is a journey that must include the insights and values of every stakeholder involved, especially our indigenous populations. Their lived experiences and deep connection to the land are vital to shaping responsible mining practices that respect both our natural environment and cultural heritage. As we move forward, its vital we embrace an open dialogue and partnership rooted in trust, understanding, and mutual respect. Together, we continue to create a model for mining that not only drives economic growth but also uplifts our communities and preserves the rich tapestry of the Ecuadorian culture. 'Thanks to the Pueblo Shuar Arutam organization and all other stakeholders for their trust and support as we look to sustainably deliver this Tier 1 asset. This project is for Ecuador, by Ecuador, and for the benefit of all stakeholders today and the generations to come.' About the Pueblo Shuar Arutam organization, the Inter-Institutional working group and wider community support The Pueblo Shuar Arutam organization ('PSHA'), located in the southeast of the province Morona Santiago, is made up of nearly ten thousand people organized into 47 Shuar centers. The objective of the Inter-Institutional working group and its subsequent ratification through the signing of the LOI is to develop transparent dialogue processes and workshops in order to promote the signing of a future Cooperation Agreement, under the consent of the communities. As discussed above, the Warintza Project enjoys the support of its local Shuar Centres of Warints and Yawi with whom the Company shares an Impacts and Benefits Agreement ('IBA'), first signed in September 2020, renewed in March 2022 and again renewed in April 2024. The IBA provides certainty of community support for the responsible advancement of the Warintza Project from exploration and development through to production and is a major milestone in the Company's innovative corporate social responsibility ('CSR') program. This was the first IBA established in Ecuador and set the precedent for industry best practice for inclusive and mutually beneficial resource development in partnership with Indigenous Peoples. The IBA formalizes commitments toward supporting partner communities in their social and cultural practices. It also provides for eliminating or mitigating adverse impacts, employment, contracting and business opportunities supported by a robust program of education, skills and training together with community infrastructure development and financial benefits to maximize community participation and positive outcomes for Indigenous Peoples. In March 2024, Solaris announced a trilateral cooperation agreement with FICSH, the highest authority and largest Shuar indigenous organization legally established by statute of the Ministry of Social Welfare of Ecuador in 1964 and includes 50 associations comprising 500 Shuar communities and approximately 143,000 Shuar indigenous people, and with the AEI of Ecuador. The agreement aims to promote the economic and social development of Shuar communities represented by FICSH, including PSHA and the communities of Warints and Yawi, with programs in health, education, skills training, entrepreneurship, innovation and sustainable mineral resource development. On behalf of the Board of Solaris Resources Inc. 'Matthew Rowlinson'President & CEO, Director For Further Information Patrick Chambers, VP Investor RelationsEmail: pchambers@ About Solaris Resources Inc. Solaris is a copper-gold exploration and development company, committed to a sustainable future by empowering communities and stakeholders through our dedication to participatory and responsible mining. The Warintza Project, a large copper-gold porphyry deposit, with a disclosed resource endowment of over 2.3Bn tonnes is a unique, global scale and multigenerational asset with low capital intensity located in southeast Ecuador. The Company also owns a series of grassroot exploration projects with discovery potential in Peru and Chile and a 60% interest in the La Verde joint-venture project with a subsidiary of Teck Resources in Mexico. Cautionary Notes and Forward-looking Statements This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively 'forward-looking statements'). The use of the words 'will' and 'expected' and similar expressions are intended to identify forward-looking statements. These statements include statements regarding the Company's future growth or value, and expectations regarding the performance and focus of the new management team and Board of Directors; the terms of the private placement; the ability of the Company to satisfy regulatory, stock exchange and commercial closing conditions of the private placement; and the timing, benefits, structure and completion of the proposed emigration. Although Solaris believes that the expectations reflected in such forward-looking statements and/or information are reasonable, readers are cautioned that actual results may vary from the forward-looking statements. The Company has based these forward-looking statements and information on the Company's current expectations and assumptions about future events including assumptions regarding the exploration and regional programs. These statements also involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Solaris Management's Discussion and Analysis, for the year ended December 31, 2023 available at Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Solaris does not undertake any obligation to publicly update or revise any of these forward-looking statements except as may be required by applicable securities in to access your portfolio
