Latest news with #R128m
The Citizen
5 days ago
- Business
- The Citizen
‘Looting using matric papers': Why did NW printing job price jump by around R100m?
The job has reportedly never cost more than R30m, but is now apparently being done for R128m a year, for five years. There are concerns of possible 'looting' and corruption within the North West education department after it signed a new matric paper printing job that costs four times what it did last year. The department reportedly spent just over R28 million last year to print its question papers, but has now appointed a new provider for the services, Lebone Altron DSV Consortium. That provider, according to a City Press insider, is charging R128 million a year for the service. The department has disputed the amount, but revealed the actual amount is over R100 million. It justified the cost by saying it included not only printing but also other logistics like storage and distribution. Still, insiders insist that these other services were included in the previous deal at a fraction of the price. They smell a rat and claim there is 'a lot of looting using the printing of matric question papers'. 'The material used for printing the question papers is normal, which is found in any printing company. We do not use any special materials, but the money [the department is going to pay] is too much,' said a source. Why don't they use government printers? According to the national education department, eight of the nine provinces, including the North West, have stopped using the Government's Printing Works (GPW) to print their matric papers amid security concerns. 'The GPW in its current structure lacks the capacity to print secure question papers for all nine provincial education departments. This capacity can be extended with time, but the reality is that it is also a major risk for all national question papers to be printed at one venue in the country,' the department said previously. 'Another important factor is that provincial education departments (PED) prefer to have in-house printing facilities, which allows them to manage the process more closely. Hence, printing in Pretoria at GPW is not the most convenient arrangement for most PEDs.' And while leaks have reportedly reduced, the cost of printing, now in private hands, has risen. ALSO READ: Hawks make major breakthrough in matric results 'breach' – One detained Last year, it was reported that the cost more than tripled from less than R1 billion to R3.6 billion. The national education department later clarified that this R3.6 billion included setting the papers, moderation, printing, transport, security, marking and allowances for markers, maintenance of systems, and printing and distribution of statement of results. 'The estimated cost for just the printing and packing of question papers for all candidates writing the October/November examination is R220 million, and this is a fraction of the R3.6 billion quoted,' the department explained. NOW READ: WATCH: Matric results for just R100? Outcry over 'leak' of marks
TimesLIVE
14-05-2025
- Automotive
- TimesLIVE
Rare classic Ferrari racing car expected to sell for up to R165m
One of the most beautiful Ferraris ever created is going on auction later this month. The 1957 Ferrari 500 TRC racing car, one of only 16 remaining examples, is expected to fetch between $7m and $9m (R128m — R165m) at a Sotheby's sealed auction on May 27 in California. The Scaglietti-designed car was created during one of the most aesthetically beautiful eras for racing cars, where coachbuilders were guided by form rather than function, and visual impact took precedence over downforce and aerodynamics. Ferrari creations by Scaglietti and Pininfarina are mechanical works of art that have stood the test of time and the 500 TRC is a prime example. It was the genesis to the legendary 12-cylinder 250 Testa Rossa, a race car that has achieved $51.7m (R942.78m) on auction. The 500 TRC was introduced in 1957 as Ferrari's four-cylinder racing car in endurance events and enjoyed a stellar maiden season, taking class wins in the 12 Hours of Sebring, Mille Miglia, Nürburgring 1,000km and the 24 Hours of Le Mans. A total of 17 examples were built and the 500 TRC marked the end of an era as it was the last four-cylinder Ferrari racing car constructed. The 2.0 l Lampredi engine, while not as large in capacity as some of its V12 cousins, packed a punch and carried Alberto Ascari to win Ferrari's first Formula One driver's title in 1952. After repeating the feat in 1953, the four-cylinder engine was used in sports car racing between 1953 and 1957. Bearing the chassis number 0658 MDTR, this example was the first 500 TRC built. With its provenance and race history it is one of the most historically significant four-cylinder Ferraris to be offered for sale in recent times. It was raced in 20 events between 1957 and 1963, achieving 10 class victories and 13 podium finishes. It was also driven in 21 editions of the Mille Miglia Storica between 1993 and 2014. The car is Ferrari Classiche Red Book certified and retains its original chassis, body, engine and rear axle.
TimesLIVE
07-05-2025
- Business
- TimesLIVE
Meta suit against Israel's NSO offers insight into world of cyberespionage
Israel's NSO Group was handed a $168m (R3.07bn) penalty by a federal jury in California on Tuesday for hijacking the servers of WhatsApp in order to hack users of the Meta-owned chat platform on behalf of foreign spy agencies. The case caps a six-year battle between the American social media giant and the surveillance firm. It has also cast a unusual amount of light on the inner workings of the spyware industry. Here is what we have learnt: Top-shelf spyware is not cheap Between 2018 and 2020 NSO charged its European government customers a "standard price" of $7m (R128m) for use of its platform to hack 15 different devices at a time, according to Sarit Bizinsky Gil, NSO's vice-president of global business operations. The executive said the ability to hack a phone outside the customer's country was a separate add-on worth approximately $1m (R18.3m) or $2m (R36.6m). "It is a highly sophisticated product," Meta lawyer Antonio Perez told the court in his opening statement, "And it carries a hefty price tag." NSO hacked thousands of devices Between 2018 and 2020 the Israeli spyware firm was responsible for breaking into thousands of devices, according to Tamir Gazneli, NSO's vice-president of research and development.
