Latest news with #R14
IOL News
13 hours ago
- Business
- IOL News
Consumer take-home pay holds steady amid inflation and economic uncertainty
Consumer take-home pay, tracked in the BankservAfrica Take-home Pay Index (BTPI), held steady in June 2025, after three months of moderation, due to the favourable inflation rate and expectations of an interest rate cut on July 31. Image: IOL / AI Consumer take-home pay, tracked in the BankservAfrica Take-home Pay Index (BTPI), held steady in June 2025, after three months of moderation, due to the favourable inflation rate and expectations of an interest rate cut. However, while average salaries might increase by 5% this year based on current conditions, future earnings and unemployment levels may be adversely impacted by external factors impacting on the economy, an economist has warned. 'The nominal average take-home pay of R17 310 in June 2025 declined marginally by 0.1% on May's R17 325. However, it was still well above the R15 514 level a year earlier,' said BankservAfrica's Head of Stakeholder Engagements Shergeran Naidoo. He said the economic outlook had deteriorated in recent months even though the first six months of data from the index signaled that 2025 would, on average, be a good salary year. Inflation adjusted take-home pay moderated marginally by 0.2% month-on-month to R14 804 in June, compared to R14 827 in May, but was still notably up on year-ago levels. 'The significant moderation in consumer inflation in 2024 has had a positive impact on the purchasing power of salary earners and the scenario continues into 2025, with the latest headline CPI figure at only 3% for June 2025,' said Independent Economist Elize Kruger. 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 ✕ Ad loading After challenging years for salary earners, due to the sluggish local economy and the elevated inflation rate, 2024 turned out to be the best year since 2015, with an average real salary increase of 1.5%. 'With inflation forecast to average 3.5% in 2025 - unlike 4.4% in 2024 – and the broader industry suggesting an average salary increase above 5%, 2025 will be the second consecutive year of a real increase in earnings,' said Kruger. She said the favourable inflation environment had created ample scope for the South Africa Reserve Bank to cut interest rates further, in addition to supporting salary earners' consumption expenditure and softening the impact of global headwinds on the local economy. 'Carpe Diem Research Services forecasts a 25 basis percentage points cut at the Monetary Policy Committee meeting tomorrow, July 31, 2025,' said Kruger. She said this was likely to be the final cut in the current downward cycle. She said that even though 2025 had turned out to be a volatile year so far, real consumption expenditure had held up well, which was encouraging for an economy heavily reliant on consumer spending. 'Even with confidence levels slipping in the first quarter, the level of real final consumption expenditure by households was 2.8% higher compared to a year earlier. Early indications from StatsSA indicate that the performance continued in the second quarter, with real retail sales in the first five months of the year up by 4.3%,' she said. However, there had been downward revisions to growth prospects - locally and globally - and high levels of uncertainty, fueling low confidence and a pause on investment decisions. 'This could affect employment levels and earnings in the coming months, in an economy with an already high unemployment rate of 32.9%,' said Kruger. Additionally, tensions between the US and South Africa, coupled with uncertainty over the tariff landscape beyond August 1, presented a growing concern for the economy and its trade outlook, she said. Visit:
The Citizen
16 hours ago
- Business
- The Citizen
June salaries stabilised after months of decline, but adverse external factors remain
If you earn a salary you will be glad to hear that there is some relief coming, but the dark cloud of US tariffs still hovers. Salaries stabilised in June after three months of decline, supported by a favourable inflation environment and an anticipated interest rate cut on Thursday. Salary earners may see some relief from financial pressures, but external factors are still expected to weigh on future earnings and unemployment levels. Take-home pay, tracked in the BankservAfrica Take-home Pay Index (BTPI), held steady in June after three months of moderation. 'The nominal average take-home pay was R17 310 in June, showing a marginal 0.1% decline on May's R17 325. 'However, this was still notably above the R15 514 level of a year ago,' Shergeran Naidoo, BankservAfrica's head of stakeholder engagements, says. However, Elize Kruger, an independent economist, says while the first six months of BTPI data signals 2025 will, on average, be a good salary year, the economic outlook has deteriorated in recent months. ALSO READ: Take-home pay slides for third month with grim job opportunities and earnings Significant moderation in inflation helped salaries Real take-home pay, adjusted for inflation, moderated marginally by 0.2% to R14 804 in June, compared to R14 827 in May, but was still notably up on year-ago levels. 'The significant moderation in consumer inflation during 2024 had a positive impact on the purchasing power of salary earners and the scenario is continuing into 2025, with the latest headline inflation at only 3% for June,' Kruger says. After a challenging few years for salary earners, due to the sluggish local economy and the elevated inflation rate, 2024 turned out to be the best year since 2015, with an average real salary increase of 1.5%. 'With inflation forecast to average 3.5% in 2025 unlike the 4.4% in 2024 and the broader industry suggesting an average salary increase above 5%, 2025 will be the second consecutive year of a real increase in earnings.' Kruger says in addition to supporting salary earners' consumption expenditure and softening the impact of global headwinds on the local economy, the favourable inflation environment created ample scope for the South African Reserve Bank (Sarb) to cut interest rates further. 'Carpe Diem Research Services forecasts a 25 basis points cut at the Monetary Policy Committee (MPC) meeting tomorrow. This is likely to be the final cut in the current downward cycle.' ALSO READ: Salaries decreased by 2% in April, but higher than a year ago 2025 volatile but real consumption held up well Despite 2025 turning out to be a volatile year so far, real consumption expenditure held up well, which is an encouraging sign for an economy heavily reliant on consumer spending. Even with confidence levels slipping in the first quarter, the level of real final consumption expenditure by households was 2.8% higher compared to a year earlier. Early indications from Statistics SA indicate that the performance continued in the second quarter, with real retail sales in the first five months of the year up by 4.3%. Uncertainty and low confidence could affect employment and salaries However, Kruger points out that the general economic environment deteriorated in recent months, with downward revisions to growth prospects locally and globally and high levels of uncertainty, fuelling low confidence and a pause on investment decisions. ALSO READ: Decrease in take-home pay reflection of mounting economic pressure 'This could affect employment levels and earnings in the coming months, in an economy with an already high unemployment rate of 32.9%. In addition, tensions between the US and South Africa, coupled with uncertainty over the tariff landscape beyond 1 August, present a growing concern for the economy and its trade outlook. 'As such, it remains of utmost importance that the South African government prioritise its diplomatic engagement with US authorities to negotiate a favourable trade regime to avert job losses in sectors such as automotive and agriculture, which would otherwise face severe impacts,' Kruger says.
IOL News
a day ago
- Health
- IOL News
KZN Health Department partners with private ambulance services to enhance emergency response
MEC of Health in KwaZulu-Natal, Nomagugu Simelane announced the department's plan to partner with private ambulance services when she tabled her budget on Tuesday. Image: FILE The KwaZulu-Natal Department of Health is entering into a partnership with private ambulance services to ensure timely and quality access to emergency medical services. Health MEC Nomagugu Simelane made this announcement while presenting her budget in the provincial legislature yesterday. The budget tabled amounts to approximately R56.2 billion. Simelane revealed that, over the past six years, budget cuts have reduced her budget by nearly R14 billion, leaving the department unable to meet some of its critical needs, including the expansion of the ambulance fleet. "As a result, we are now looking into partnerships with private ambulances operating within the province," she stated. Simelane emphasised the need to confront the challenges that directly impact patients. One of the most urgent issues is the pressure on the department's emergency medical services, particularly concerning response times for the evacuation of the sick and injured, as well as inter-facility transfers. "KwaZulu-Natal's vast and difficult terrain, coupled with budget limitations, has meant that we have only been able to replace ageing ambulances and not expand our fleet as much as we would have liked," she explained. In response, the department has decided to establish a panel of licensed EMS service providers to support the current fleet and improve response times. This panel will be drawn from more than 300 licensed service providers currently operating within the province. "Let me be clear: our fleet will continue to focus on emergency evacuations from communities, accident scenes, and high-risk areas, while the private ambulances will assist with the critical function of transfers. This will help the department reduce turnaround times and ensure that patients receive the level of care they need when they need it," she added. Simelane mentioned that the EMS is allocated a budget of R81 million, from which they intend to procure 50 new ambulances and 10-35 seater transport buses. Part of the funds will also be used to pay private service providers for some EMS functions. Chairperson of the committee, Dr Imran Keeka, stated that the committee will be monitoring the issue of EMS closely. "The committee has prioritised emergency medical services through a focused intervention study and will continue to monitor this service rigorously." Sabelo Mthethwa of MK Party commented, "They failed to meet EMS targets because they do not have the infrastructure, and now, instead of solving those problems, you are inviting new problems. It is not going to work and is going to create a lot of issues for healthcare workers." "If you are going to use private ambulances for your inter-facility transfers, one thing you are forgetting is the distance between the two, and it is going to be very costly. This budgeting did not allow for that. The question is, last year they failed to pay service providers on time. How are you going to do this year without increasing the budget for EMS?" he asked. Ncamisile Nkwanyana of the IFP welcomed the budget, stating it would facilitate the appointment of doctors. She urged the government to address the shameful long waiting times in clinics and hospitals, where patients travel long distances only to face long queues. "This erodes their dignity; this humanitarian failure must be rectified without delay." Hlengiwe Mavimbela of the ANC remarked that services such as EMS are the backbone of community services. "The budget also includes strategic adjustments to support EMS and mental health services, which are particularly important in a province facing post-flood trauma, substance abuse, and youth mental health concerns." THE MERCURY
The South African
4 days ago
- General
- The South African
The Lotto results for Saturday, 26 July 2025
It's time for today's Lotto, Lotto Plus 1 and Lotto Plus 2 draws. Will you be South Africa's next Lotto multimillionaire? Lotto, Lotto Plus 1 and Lotto Plus 2 jackpot estimates: Lotto – estimated at R14 million Lotto Plus 1 – estimated at R30 million Lotto Plus 2 – estimated at R5 million If you want to win your share of the jackpot, you have to play! You know what they say, you've got to be in it, to win it. NOTE: The numbers drawn will appear below as soon as they are available at or after 21:00. View the latest version of this page to verify whether the numbers have been updated. Draw Date: 26 July 2025 Lotto Numbers: 0, 0, 0, 0, 0 Bonus Ball: 0 Lotto Plus 1 Numbers: 0, 0, 0, 0, 0 Bonus Ball: 0 Lotto Plus 2 Numbers: 0, 0, 0, 0, 0 Bonus Ball: 0 Did you miss a draw and wonder if you're actually a millionaire? Click here to view past Lotto, Lotto Plus 1 and Lotto Plus 2 and payouts. The Lotto, Lotto Plus 1, and Lotto Plus 2 draws take place every Wednesday and Saturday on SABC 2 at 20:56 (SA time) Players buy tickets with their choice of six different numbers between 1 and 52. There is provision for random numbers to be generated automatically for those who do not wish to choose, known as a Quick Pick. When introduced, the Lotto jackpot draw required numbers from 1 to 49. Ithuba Holdings increased the number from 49 to 52 on 30 July 2017. In the draw, six numbered balls are drawn without replacement from a set of 52 balls numbered from 1 to 52. A further Bonus Ball is also drawn, which only affects players who match five numbers. Prizes are awarded to players who match at least three of the six drawn numbers, with prizes increasing for matching more of the drawn numbers. All players who match all six drawn numbers win equal shares of the jackpot. The chance of doing so is 1 in 20,358,520. If four, five, or six balls are matched, the relevant prize is divided equally between all who match that many balls. If no player matches all six numbers, the jackpot rolls over and is added to that of the next Lotto draw. The entry fee to the Lotto draw is set at R5.00 per board. Lotto Plus 1 is exactly the same as Lotto, but gives the player a second chance to win. When buying a Lotto ticket, players can pay an extra R2.50 per board to enter the Lotto Plus 1 draw. Odds are the same, while prizes are usually slightly lower. Lotto Plus 1 was introduced on 26 November 2003. Lotto Plus 2 is exactly the same as Lotto, but gives the player a third chance to win. When buying a Lotto ticket, players can pay an extra R2.50 per board to enter the Lotto Plus 2 draw. Odds are the same, while prizes are usually slightly lower. Lotto Plus 2 was introduced on 30 July 2017. Buy your tickets now at your nearest participating retailer, on our website by visiting national using your computer or mobile site, via the National Lottery Mobile App, or participating banks, namely FNB, ABSA, Nedbank, Standard Bank, Capitec, TymeBank and African Bank otherwise dial 120 7529# for USSD. Winners who win R50 000 and above receive free trauma counselling from professional psychologists and financial advice from accredited financial advisors absolutely free. At the same time, winnings are paid tax-free directly into the winner's accounts. If you are buying tickets from a lottery outlet, they close at 20:30 on the day of a draw Players must be 18 years old. Monday: Daily Lotto Daily Lotto Tuesday: Daily Lotto + PowerBall and PowerBall Plus Daily Lotto + PowerBall and PowerBall Plus Wednesday: Daily Lotto + Lotto, Lotto Plus 1 and Lotto Plus 2 Daily Lotto + Lotto, Lotto Plus 1 and Lotto Plus 2 Thursday: Daily Lotto Daily Lotto Friday: Daily Lotto + PowerBall and PowerBall Plus Daily Lotto + PowerBall and PowerBall Plus Saturday: Daily Lotto + Lotto, Lotto Plus 1 and Lotto Plus 2 Daily Lotto + Lotto, Lotto Plus 1 and Lotto Plus 2 Sunday: Daily Lotto For more details and to verify the winning numbers, visit the National Lottery website. You must always confirm the official winning numbers on the National Lottery website. We do our best to post the results as accurately as possible, but the National Lottery is the only source you can use to 100% verify the results. 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
5 days ago
- Entertainment
- The Citizen
Got R14m to spare? Get this home cinema and forget the sports car
This is more than just your average television, soundbar and woofer from appliance brands. Journalists were seated on seats from Moovia, the German masters of cinema comfort. Picture: The Citizen As technology continues to evolve at a rapid pace, home automation, entertainment and cinema have taken a giant leap into the future. Unlike mobile phones and computers which are launched and upgraded every year, home cinema is modular and can be enhanced as the need arises. But it does come at a price, to be precise, starting from about R1 million to R14 million and more. Not just a cinema room Warren Husband, solutions architect and client liaison at Homemation invited The Citizen to tour its home cinema offering in several rooms which he compared to high-end sports cars, depending on what marque you want. This is more than just your average television, soundbar and woofer from appliance brands but rather aimed at people who have wads of cash to create an entertainment hub in their home. Wellness Husband said the rooms are also being used for health and wellness in the privacy of your home. 'They are being used for working out. The moms or wives who like to do yoga or whatever. What I want to do is create a point of view, forest kind of thing and have all the speakers in the world to create the spaces that are far more than just skop, skiet and donder.' During the visit, journalists were shown a cinematic masterpiece – the largest and most advanced home theatre experience in Africa. As technology continues to evolve at a rapid pace, home automation, entertainment, and cinema have taken a giant leap into the future. Warren Husband explains… #Homemation @TheCitizen_News — 𝙵𝚊𝚒𝚣𝚎𝚕 𝙿𝚊𝚝𝚎𝚕 ⚡️ (@FaizelPatel143) July 26, 2025 ALSO READ: Samsung's new TV's allow you to take care of your pets [VIDEO] Crazy setup To accommodate 3m² of subwoofer cone area and 60 000 watts of amplification, the room was precision-built to eliminate vibrations and deliver bass performance which reverberated when a trailer of the movie Prey was shown. A 28-channel Ascendo audio system in an 11.11.6 Dolby Atmos configuration surrounds the audience. Six 21 inch subwoofers behind the screen, four more at the rear, and a 32 inch infrasonic subwoofer deliver earth-shaking bass, all calibrated using Trinnov's WaveForming technology A 177 inch Stewart Filmscreen with Harmony acoustically transparent fabric ensures perfect audio alignment paired with the Barco Hodr cinemascope projector, boasting over 7 500 lumens. Journalists were seated on seats from Moovia, the German masters of cinema comfort, which offer motorised adjustments and RGB-lit cupholders. A lot of moola However, all this comes at a price and if you have an extra R14 million to spare and are willing to sacrifice that sports car you were saving for, go for it. At least you will have a quiet room to cower in, to watch a movie, the latest F1 race or the Springboks taking on the All Blacks. Last year, The Citizen also visited Cinema Architects in Sandton which also offers a custom integration providing the design and installation of sophisticated electronic systems for premium and smart homes for residential environments. NOW READ: Digital gossip: When WhatsApp groups become serious cyber-risk zones
