Latest news with #R1.9
The South African
4 days ago
- Health
- The South African
Future of SASSA grant for pregnant women hangs in the balance
Did you know that a SASSA grant for pregnant women has been on the table for some time now? First tabled in 2012, it's known as the Maternal Support Grant (MSG), and it's a shame it has been in limbo for more than a decade. At its heart, a SASSA grant for pregnant women hopes to address the fact that nearly one-third of children born in South Africa are stunted. This is due to poor nourishment of the mother. In fact, 2.5 million people live in nutritionally insecure households, according to the South African Medical Research Council. Even though it will cost billions annually, the savings a maternity grant will bring are said to be ten-fold. Image: File As such, mothers who are malnourished during pregnancy have much higher odds of poor birth outcomes. This includes low birthweight, poor neurodevelopment, and increased risk of chronic disease later in life. This is why the proposed SASSA grant for pregnant women came about. And many in civil society say the South African Social Security Agency should combine it as an extension of the existing R570 Child Support Grant. However, despite the draft policy being 13-years old, the Department of Social Development (DSD) says it still hasn't reached Cabinet. Last year, in November 2024, the policy was submitted to the Social Protection, Community and Human Development (SPCHD) Cabinet Committee. But it was sent back for 'further work,' saying poverty, unemployment and inequality need to be addressed jointly. In more than a decade, the DSD has not even presented the draft policy to Cabinet. Image: File Some worry a SASSA grant for pregnant women would 'incentivise child birth and create a dependency syndrome.' However, civil society says it has been more than a decade since the DSD commissioned research on the benefits of a SASSA grant for pregnant women. And in that time the body of evidence in its favour has only grown stronger. Therefore, the absence of income support for pregnant women is a big gap in the country's social security framework. According to advocacy groups, a SASSA grant for pregnant women would require in the region of R1.9 billion to R3.2 billion annually. However, the potential saving to public health would exceed R13 billion. It is therefore a critical investment into the future of the nation. But what do you think …? 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
15-05-2025
- Business
- The Citizen
Bitcoin eyes R2 million (again)
There's growing consensus that the bull market is far from over. A weaker rand could easily push bitcoin over the R2m level, says 80eight's Faadil Moti. Picture: iStock Bitcoin (BTC) broke R1.9 million this week, reversing the nearly 30% drawdown that accompanied the initial chaos of US President Donald Trump's tariff wars against US trading partners. It is now within a few percentage points of its all-time high above R2 million, which was breached in January this year. Bitcoin price in ZAR Source: CoinGecko The USD price of bitcoin broke above $100 000 this week for the second time this year, coming within a whisker of the all-time high of $109 000 set in January this year. ALSO READ: Bitcoin trades at nearly R2m thanks to Donald Trump The bitcoin bulls were out in force this week, with MicroStrategy founder Michael Saylor – whose firm holds 555 450 BTC valued at about $57 billion – forecasting a rise to $150 000, while Rich Dad Poor Dad author Robert Kiyosaki is predicting $350 000 as a way stop to $1 million by 2035. Respected crypto analyst PlanB is forecasting a potential for BTC to hit $400 000 before the year is out, based on a relative strength index (RSI) which, while overbought, has yet to stretch itself to levels achieved in previous bull markets. Source: PlanB PlanB sees room for the RSI to breach 80 in the coming months, which would take its price to a potential target of $400 000. ALSO READ: Bitcoin crashes. Is it still worth it? Is Donald Trump to blame? 'Bitcoin is trading just below R2 million in South Africa, and a weaker rand could easily push it over that level,' says Faadil Moti, CEO of crypto company 80eight. 'At the same time, bitcoin in US dollars is testing a major resistance and looks overbought, so a short-term pause is possible. But overall, the momentum is strong — there's a marginal squeeze in the market, and prices remain elevated as investor appetite for risk continues. 'We're also watching the derivatives market closely, where more positions are building – often a sign of growing interest and confidence,' says Moti. 'Bitcoin is becoming more than just a trade; it's turning into a reliable store of value. For South Africans, it offers a hedge against a weakening rand and long-term upside.' It's now becoming apparent to even sceptical investors that some BTC exposure is becoming necessary to provide some zest to portfolio performance, adds Moti. ALSO READ: Rand dives thanks to Trump while Bitcoin shines thanks to Musk The new 'safe haven' asset Gianluca Sacco, chief operating officer at crypto exchange VALR, says the recent rally was ignited by diminishing fears of a tariff trade war between the US and China. That relief has led to a rebound in a broad set of assets, including bitcoin. 'More specifically in the crypto space, bitcoin is the safe haven asset with large institutional buyers providing support and stepping in when the price has looked attractive over the last month,' adds Sacco. 'Institutions such as Strategy [MicroStrategy] and Metaplanet have been active over the last month in buying more bitcoin for their balance sheets while the participation of exchange traded funds has also strengthened. 'All of this with a view that bitcoin is maturing into its status as digital gold.' Kiyosaki has urged his followers to ditch fiat currencies in favour of BTC, gold and silver. 'Fake money leads to dishonest money, dishonest statistics, dishonest accounting, dishonest balance sheets, dishonest compensation, dishonest relations, dishonest leaders, and corruption in everyday life,' he wrote in a 10 May social media post. This article was republished from Moneyweb. Read the original here.
IOL News
12-05-2025
- Business
- IOL News
South African real estate sector shows remarkable resilience amidst 2025's volatile start
South Africa's persistently high interest rates, the lingering effects of the post Covid-19 recovery, and muted domestic growth in South Africa continue to stifle the local real estate sector. Image: Henk Kruger African News Agency (ANA) While the South African real estate sector has not been insulated from the various macroeconomic challenges, the sector has shown notable resilience. This was as this year got off to a volatile start with significant movements across global markets, shifting geopolitical dynamics, and ongoing volatility driven by persistent macroeconomic headwinds. Despite global pressures, South Africa's real estate market faces significant domestic headwinds. These include stubbornly high interest rates, the continuing impact of the post-Covid-19 recovery, and overall weak economic growth, according to Simon Fiford, senior vice president for Real Estate Coverage at Standard Bank. These factors have impacted each asset class differently. Across these categories, performance has varied. 'According to Standard Bank's internal estimates, the South African commercial real estate sector is currently valued at approximately R1.9 trillion. This represents a significant increase from the R1.3 trillion recorded in 2015, highlighting the sector's growth over the past decade. "If we add to this the estimated value of the residential property market (R6.9 trillion), the market size exceeds R8.8 trillion (as of the end of 2024),' Fiford said. The African bank with assets at around R3.3 trillion as of the financial year of 2024 and has a footprint in 20 African markets, monitors and analyses real estate trends. The senior VP said it is important to note that these valuations may not fully capture the entire market, as certain segments like government-owned properties, hospitals, hotels, and multi-dwelling residential units might be underrepresented in municipal data. 'This significant figure affirms the enduring relevance of physical real estate assets, even as digital and virtual platforms proliferate.' The local real estate sector comprises multiple, highly differentiated asset classes: office, retail, residential, industrial and alternative real estate assets-including data centres, cold storage facilities, and student accommodation, among others. The bank's data office rentals have shown surprising resilience, with the national weighted decentralised vacancy rates for grades A+, A and B office space decreased to 12.6% in the last quarter of 2024, down from 14.4% in the last one of 2023. The shift back to physical workplaces has gathered momentum, as hybrid fatigue sets in, and companies prioritise in-person collaboration. The retail sector has experienced a remarkable recovery as footfall and occupancy rates have now surpassed pre-pandemic levels in several key African markets. The asset class was said to be also seeing low vacancy rates (5.5% FY 2024), as well as increased adoption of solar PV initiatives which are being used to manage operational costs. Furthermore, the financier said they have witnessed the rise of urban consolidation which has led to innovative precinct developments, which blend residential, retail, and cultural spaces in one environment. However, it said the structural undersupply of affordable housing in the country remains a challenge. According to the Centre for Affordable Housing Finance in Africa, the total value of South Africa's residential property market reached R6.9 trillion in 2024, encompassing 6.91 million properties. Residential assets represent 89.3% of total property volume, thereby underscoring their centrality to household wealth. Importantly, government-subsidised housing (GSH) makes up 32% of total residential units, or about 2.18 million homes. This indicates massive potential for scalable investment and impact. Encouragingly, the financial institution said the residential market is showing lower vacancy rates, increased investment in build-to-rent and build-to-sell developments, and a steady rise in rental yields. The standout performer across the board was said to continue to be the industrial sector. This asset class benefits from booming e-commerce, the reshoring of supply chains, and demand for warehousing solutions. Vacancy rates have dropped by 2.1%, while rental growth has exceeded 5% year-on-year. 'We are also seeing a surge in tenant-driven developments and sale-and-leaseback structures, enabling manufacturers to remain focused and unlock capital to invest in core operations.' Data centres, cold storage, and student accommodation were said to continue to emerge as strategic sub-sectors. Their rise was linked to shifts in technology, food logistics, and urbanisation, pointing to new investment opportunities. Fiford said that however, for many across the continent, physical infrastructure remains essential. 'Whether it is visiting a favourite retail store, collaborating in an office, or living in secure housing, real estate continues to shape our daily lives.' Sandile Mpanza, the head of commercial property finance Africa region at Absa CIB, said in 2023, a financing deal quietly redrew the boundaries of East Africa's real estate playbook. Acorn Holdings Limited secured KES 6.7 billion from Absa Group and Absa Bank Kenya to develop ten purpose-built student accommodation sites across Nairobi. He said on paper, it was a domestic transaction. 'In substance, it marked three precedents: the first time a development Real Estate Investment Trust (REIT) had been bank-financed through a bilateral loan in Sub-Saharan Africa; the first sustainable finance facility for commercial property outside South Africa; and a decisive shift in where-and how-real estate value is now being constructed,' Mpanza said.
The South African
02-05-2025
- Entertainment
- The South African
Selena Gomez champions mental health access
Selena Gomez, the force behind Rare Beauty, is shaking up the beauty world and the way we talk about mental health. At Rare Beauty's 4th Annual Mental Health Summit, Gomez made her mission clear. 'The goal was always to bring some sort of mental health access to people in every community because I didn't have that,' she shared. 'I went through a very weird time until I figured out I was bipolar, and there was clarity there. It seems scary for people, but it allows freedom and more conversation when you release your own story'. This year's summit was more than just a gathering. Nearly 200 people-advocates, creators, educators, and students came together to explore what emotional care truly looks like. Attendees discussed everything from managing anxiety in our digital world to building self-worth and supporting friends through tough times. Jay Shetty, author and podcast host, closed the day with a fireside chat. 'Sharing your story can be a bridge, not a burden,' he said. The brand's Rare Impact Fund has already raised over R244 million (about $13 million) and aims to reach R1.9 billion ($100 million) in 10 years. The fund supports organisations worldwide, focusing on BIPOC, LGBTQ+, and underserved youth. In South Africa, where access to mental health resources can be limited, this kind of global support matters. Rare Beauty's grants help fund school-based programmes, teacher training, and peer-led support networks-models that could inspire local initiatives. The summit also launched the 'Send Warm Wishes' campaign. Attendees wrote postcards to loved ones, reminding them they're not alone. 'Turns out, taking care of your mind can start with reaching out,' Gomez said. Rare Beauty even partnered with Paperless Post, so anyone, anywhere-including South Africans-can send a note of support. Rare Beauty's website offers free mental health resources-interactive guides, conversation starters, and videos. These are accessible to anyone, anywhere, and could be a lifeline for those in communities where mental health support is scarce, according to the Los Angeles Times. Selena Gomez's story resonates far beyond Hollywood. 'I struggled with the world inside my head for a long time and I felt lost and hopeless at times,' she admitted. 'But receiving my diagnosis in 2020 gave me the knowledge and answers I had been desperate for. Understanding my condition made me more aware and less afraid'. Rare Beauty is not just selling makeup. It's building a culture of compassion. And as Gomez's journey shows, sharing your struggles can spark real change-wherever you are in the world. 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.
IOL News
28-04-2025
- IOL News
Police crackdown: R1. 9 million worth of abalone seized in Northern Cape farmhouse
Five suspects are expected to appear in the local court in the Northern Cape after police raided a farmhouse and seized over R1.9 million worth of abalone. The suspects, two Malawian nationals and three Chinese nationals have been arrested on charges of illegal possession of abalone. Provincial police spokesperson, Colonel Cherelle Ehlers said an operation by the Provincial Organised Crime Investigations Unit was conducted on Saturday, April 26, at a farmhouse in Douglas. 'The team acted on intelligence received regarding suspicious activities at the property. During a thorough search of the premises, officers discovered several containers containing a substantial amount of abalone,' Ehlers said.
