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TimesLIVE
23-04-2025
- Sport
- TimesLIVE
Caf will have no mercy on corrupt individuals in associations: Motsepe
Strong action will be taken against individuals found guilty of corruption in African football associations, Confederation of African Football (Caf) president Patrice Motsepe warned in Johannesburg on Wednesday. Motsepe was responding directly to a question asked about the scandal and financially-plagued South African Football Association (Safa). He said this on the sidelines of Caf renewing its partnership with Africa Global Logistics — the company in charge of dealing with all logistics in major Caf competitions including the men's and women's Africa Cup of Nations. The question regarding what Caf is doing about individuals accused of corruption arose as the fraud case involving Safa president Danny Jordaan and his two co-accused — Safa CFO Gronie Hluyo and business-person Trevor Neethling — is ongoing in court. During their recent court appearance on February 7, three charges of theft levelled against Jordaan and Hluyo were withdrawn by the National Prosecuting Authority. But Hluyo and Jordaan still face three charges of fraud and one more for conspiracy to commit fraud amounting to just over R1.1m. CAF President Patrice Motsepe arrives for the announcement of partnership with logistics company with AGL. — Mahlatse Mphahlele (@BraMahlatse) April 23, 2025 Safa was also in the news for the wrong reasons at the end of March after they failed to pay staff salaries on time, citing cash flow problems. In recent months Bafana Bafana and Banyana Banyana players have complained of their bonuses not being paid on time. Asked specifically about Safa and the case involving Jordaan, Motsepe appealed for calm and for the court process to be allowed to run its course, saying Caf cannot act on accusations that have not been proved in court. 'As president of Caf, I want to say two things: of course I've got to respect the disciplinary bodies within Caf; we've got a disciplinary board and appeal. We've also got Fifa and Cas [the Court of Arbitration for Sport]. These are internal regulatory bodies that are very important. 'I also have to respect the laws of every country on the continent and their legal processes. In many countries on the continent, I've always emphasised [the importance of clean governance]. 'I've got some [FA] presidents who are in jail, and I've said, 'Bring them to court and let the court decide, don't [just] keep them in prison'. That is very important 'I have to emphasise we have to look at football as an asset of our people, as what belongs to the nation and what belongs to our country. At all times we should make enormous sacrifices and enormous contributions. I'm watching and looking at every country.' Motsepe said Caf will take stern action against those found guilty of malpractice at African football associations. 'We have to make sure there's due process; there's legality and ethics. And what I said is there will be zero tolerance of corruption. 'If we get anybody having been involved in conduct that violates the Caf statutes and regulations and corruption, we'll take action. But of course I may not make any comment on any judicial process and that applies to the duties of the leaders have in any organisation. But I can guarantee you that we'll not sit and look when there's improper behavior and conduct. Patrice Motsepe 'Not just take action, we'll consistently review our rules because sometimes the problem is our rules. They've been there for so many years, and the consequences are not as extreme as some misdemeanours and some of the violations. 'But of course I may not make any comment on any judicial process and that applies to the duties of the leaders have in any organisation. But I can guarantee you that we'll not sit and look when there's improper behaviour and conduct. 'There may be interventions, which may not be just legal but are ethical, which you [the media] may not be aware of. 'But at all times you've got to be legal and behave in a manner that is ethical and with compliance with governance. But we can't close our eyes with irregular behaviour and conduct, and we will not.' The case involving Jordaan, Hluyo and Neethling resumes Palm Ridge magistrate's court in Johannesburg on August 15.
The Citizen
21-04-2025
- Business
- The Citizen
Practical financial tips to fast-track the journey to homeownership
The recent Budget Speech underscored the ongoing challenges facing the country, many of which will impact consumers. However, Gavin Lomberg, CEO of ooba Home Loans, emphasises that a favourable interest rate environment helps ease financial pressure, making homeownership more accessible for aspiring buyers. Adding to this, Lomberg notes that while saving for a deposit is always the obvious answer, there are various other avenues that homebuyers can leverage to generate further savings in the long-term. 'If planned carefully and correctly, the journey to homeownership can be a rewarding one,' he says. 'By taking calculated steps under the guidance of trusted professionals, would-be homeowners can save tens of thousands on their home loan, making homeownership an affordable and attainable goal.' Pointing to the prevailing trend of building generational wealth, Lomberg adds, 'Homeownership goes beyond simply owning 'four walls' and a place to live. Today, aspiring homebuyers are leveraging property ownership as a wealth creation strategy for their families and future generations.' Five Extra Ways to Save Purchase properties under the new transfer duty limit Effective 1 April 2025, and subject to approval by Parliament of SA's 2025 Budget, the threshold for exemption from paying transfer duty has been raised by 10% from R1.1m to R1.21m, with all subsequent tiers raised by 10%. 'This adjustment is particularly beneficial for first-time homebuyers where the average purchase price currently sits at just slightly over the R1.21m mark,' says Lomberg, adding that it reduces the upfront costs associated with buying a home and will enable more South Africans to realise their dream of homeownership. Transfer duties are taxes paid to SARS, starting at 3% of the purchase price, depending on the price bracket. However, Lomberg emphasises that buyers are still responsible for conveyancing fees, bond registration fees and Deeds Office fees. Use a home loan comparison service to secure a better interest rate 'Rather than simply approaching your bank for a home loan, it's strongly advised to shop around for comparative quotes,' says Lomberg. 'A home loan comparison service like ooba Home Loans will negotiate with multiple banks on your behalf, ensuring that they compete for your business. In a competitive lending environment, this can translate into significant monthly savings.' As an example, Lomberg notes that ooba Home Loans' average interest rate for customers is currently prime minus 0.55%. 'If you were to accept a home loan of R 1m at the current prime lending rate of 11%, you would pay R10,332 per month, versus R9,950 with an interest rate of prime minus 0.55%. Additionally, homebuyers can choose to pay the higher amount each month to pay off their home loan sooner.' Access the First Home Finance government grant The First Home Finance grant is a subsidy for first-time homebuyers earning between R3,500 and R22,000 per month. 'This government subsidy can either be paid towards a home loan or can be allocated towards a deposit,' explains Lomberg. To qualify, applicants must be: South African citizens living in South Africa. Not have received this housing subsidy before. Be married, cohabiting, or single with financial dependents. Be over the age of 18. Not have previously owned a residential property. The subsidy amount ranges between R30,001 and R130,505, depending on income and affordability. Take advantage of attractive bank discounts and incentives In a competitive lending environment, South Africa's major banks continue to attract buyers with special offers, competitive interest rates and other discounts. 'Each bank's offering differs, but homebuyers can benefit from incentives such as discounts on bond registration costs and an additional discount in their home loan interest rate when moving their primary banking account to the approving bank,' says Lomberg. Buy-to-let as a path to property investment For those looking to enter the property market, a buy-to-let strategy can be an effective way to start building generational wealth. 'Rather than living in their newly purchased home, the homebuyer rents it out while continuing to rent elsewhere or live with family or friends.' Known as 'rentvesting', this strategy allows buyers to generate rental income to help cover their home loan and related costs. 'Over time, homeowners may choose to expand their property portfolio or move into the home once they have greater financial flexibility.' By leveraging these financial strategies, whether through lower interest rates, government subsidies or strategic investment choices, homebuyers can make the path to homeownership more affordable and achievable. 'With careful planning and the right financial tools, securing a home in 2025 may well be more attainable than you first thought.' Issued by: Kristly Bartlett
