Latest news with #R17
The Citizen
2 days ago
- The Citizen
Claims of death threats, job scams investigated at Benoni school – department says no proof exists
Claims of death threats, job scams investigated at Benoni school – department says no proof exists Despite several claims regarding teachers receiving death threats while one was murdered in April last year, as well as money paid to secure employment at the school and parents paying to access their children's report cards at Unity Secondary School in Benoni, official investigations have not resulted in uncovering any proof. Allegations of death threats The Gauteng Department of Education (GDE) confirmed that several teachers from Unity Secondary temporarily relocated to the district office in late 2024 following allegations of death threats. In April 2024, the Benoni City Times reported that some teachers disclosed during the memorial service of Seraka Mogoswane (a teacher at Unity Secondary who was murdered) that unknown men had followed and intimidated them in the months leading up to his death. Mogoswane was shot and killed on April 5 while sitting in a parked car in Daveyton. Although their concerns were regarded as serious, the department instructed the teachers to return to the school in 2025 because of a lack of supporting evidence. Jobs for sale allegations Adding to the school's woes, the department also investigated allegations that teaching posts were being sold. According to GDE spokesperson Steve Mabona, they received a complaint in November 2024 from an applicant who claimed she had to deposit R17 000 into a teacher's bank account for employment. 'The implicated teacher denied involvement, and with no further cooperation from the complainant, the matter was closed because of a lack of evidence,' said Mabona. Voluntary donations by parents allowed Financial governance issues have also come under scrutiny, with allegations that parents had to pay a R450 annual contribution to access their children's report cards. However, Mabona clarified the department did not receive formal complaints. 'Upon inquiry, it was confirmed the contribution was a voluntary donation agreed upon at the school's AGM, with flexibility for parents to contribute what they could afford,' he explained. The department stated this practice was in line with Section 37(1) of the South African Schools Act, 1996, which allows school governing bodies (SGBs) to supplement state funding. Concerns about transparency in the SGB's financial records prompted the department to conduct governance training on April 1, followed by a workshop led by the National Department of Basic Education on April 15. Following these interventions, Mabona stated that all SGB members had access to the school's financial statements, and they strengthened the communication structures to enhance accountability. Interventions launched to stop academic delince Regarding academic performance, Unity Secondary has experienced a notable decline in matric results, dropping from a 98% pass rate in 2020 to 86% in 2024. Mabona said the department launched a series of interventions to support both teachers and learners. 'These include the establishment of Professional Learning Communities (PLCs), targeted training in critical subjects, curriculum support from subject advisors, and ongoing development through the Provincial Just-in-Time (JIT) training programme. 'Learners also receive support through Saturday and holiday programmes under the Secondary School Intervention Programme (SSIP), including residential camps,' Mabona added. Mabona indicated that the school currently has two vacant departmental head (DH) posts and one deputy principal position. The DH posts were advertised in Vacancy Circular Two of 2025, with appointments expected by August 1. The deputy principal position will be advertised later this year. The department also confirmed that it reviewed the school principal's qualifications and found them to be valid, and that he did not require any disciplinary action. Read original story on At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
3 days ago
- Business
- The Citizen
Rate cut another boost for rising property market
With the inflation rate still below 3% and the Rand stronger against the US Dollar, the Monetary Policy Committee of the Reserve Bank has decided to lower the repo rate by 0,25% to 7,25%. This is the fourth interest rate cut since September 2024 and will take the prime rate and home loan 'base rate' to 10,75%, compared to 11,75% a year ago, notes Berry Everitt, CEO of the Chas Everitt International property group, and will cut the cost of borrowing by around R17 per R100 000. 'This means that on the R1,6m average home price noted in the May BetterBond Property Brief, the minimum monthly bond repayment will drop by R272, making it easier for prospective buyers to qualify for new home loans. 'And for existing homeowners with 20-year bonds at that level, their monthly repayments will now be almost R1100 lower than at this time last year.' The news for first-time buyers is even better, he says, with the minimum monthly repayment on the average first-time buyer home price of R1,28m dropping by R218 and the gross monthly income required to qualify for a 20-year loan of that amount falling by more than R700. 'In addition, the banks have been easing deposit requirements in recent months and the average deposit for first-time buyers is currently almost 9% lower, at R175 000, than it was at this time last year. Coming on top of the Budget decisions to raise the Transfer Duty threshold to R1,2m and not to raise VAT, this means that first-time buyers now require a lot less cash to become homeowners.' Everitt says this is already being reflected in the market, with BetterBond recording a 2,2% year-on-year increase in home loan applications in April, 'which represents a huge comeback from the 15% year-on-year decline recorded in April 2024'. Today's MPC decision follows news released by StatsSA that the inflation rate in April was 2,8%, still under the Bank's current target range of 3 to 6%, despite large electricity tariff increases and higher food prices in recent months. Reserve Bank governor Lesetja Kganyago noted that inflation was also expected to remain lower than initially expected this year largely due to lower oil prices, a stronger Rand/dollar exchange rate and the decision not to raise VAT. On the other hand, economic growth projections are lower and unemployment is higher worldwide, so there is a need to lower rates to stimulate spending, company revenues and employment. Many other central banks have already cut rates in response to this situation, and the US Federal Reserve is also expected to start doing so at its next meeting. Issued by Chas Everitt International
The Citizen
5 days ago
- Business
- The Citizen
Salaries decreased by 2% in April, but higher than a year ago
If you feel that your wallet was a bit emptier in April than the month before, you are not alone. Salaries did decrease in April. Salaries decreased by 2% in April compared to March, but are still higher than a year ago, as take-home pay slowed again. Mounting pressure on salaries also puts this week's interest rate decision in the spotlight, raising hope for relief among salary earners. According to the Bankservafrica Take-home Pay Index (btpi), the average nominal take-home pay recorded a second consecutive month of moderation in April. The Index reflects data from approximately 3.8 million salary earners. 'The nominal average take-home pay declined to R17 495 in April 2025, down 2.0% from R17 846 in March. 'Despite this deceleration, levels remain significantly higher than the R15 370 recorded a year ago,' Shergeran Naidoo, BankservAfrica's head of stakeholder engagements, says. He points out that the upward trend in take-home pay from the middle of last year marks a positive development after years of sluggish growth and salaries lagging behind inflation. However, he says, the escalating global trade war has dampened sentiment worldwide, affecting confidence in South Africa and slowing economic activity as investors and households pull back on their spending. ALSO READ: Here's what some of South Africa's SOE bosses earn Economic forecasts not great, affecting salaries too Elize Kruger, an independent economist, says although the worst-case scenario for the trade war impact seems to have been averted, economic growth forecasts were trimmed notably for the global economy, while local growth prospects are also expected to disappoint. 'This could hurt employment and earnings prospects of salary earners in South Africa in the coming months.' Real take-home pay, adjusted for inflation, also moderated by 2.2% to R15 005 in April 2025, compared to R15 344 in March, but is still notably higher than a year ago. 'The significant moderation in consumer inflation during 2024 had a positive effect on the buying power of salary earners and the scenario is continuing into 2025, with the latest headline inflation figure at only 2.8% for April 2025,' she says. With headline CPI now forecast to average to be around 3.4% in 2025 compared to 4.4% in 2024, it will be the lowest annual rate since the 3.3% recorded in 2020. The recent increase in the rand exchange rate, combined with a lower international oil price will result in further fuel price declines in June despite the increase in the fuel levy, while the sluggishness in the economy keeps demand-driven pricing pressures well contained. ALSO READ: Capitec CEO tops banking pay charts — but how do staff salaries compare? A look at how SA's top five banks pay 2025 expected to be a good year for salaries 'With this favourable inflation scenario, 2025 will likely be the second consecutive year of positive real take-home pay growth, supporting demand in the economy,' Kruger says. However, with the elevated cost of living, additional taxes announced in Budget 2025, with no adjustment to tax brackets and an inflation-related fuel levy increase, as well as continuing high interest rates, salary earners remain under pressure. Early indications are that the real gross domestic product (GDP) growth rate for the first quarter of the year will likely be zero, or even negative. With the current repo rate at 7.5%, the real repo rate stands at 4.1%, which is a very restrictive stance if the neutral real repo rate of 2.8% is considered, Kruger says. 'A decrease in the cost of credit could go a long way to offer relief to households and the business sector, boosting confidence levels somewhat, while also lowering the hurdle rate on capital expenditure programmes. 'While a more aggressive cut would have been welcomed, the South African Reserve Bank (Sarb) is likely to cut interest rates by only 25 basis points at best at its Monetary Policy Committee meeting on Thursday.' ALSO READ: Increase in take-home pay in January shows positive start to 2025 Slightly higher salaries not enough – we need repo rate cut With the economy stalling in the first quarter and global pressures mounting, accelerating structural reforms is now critical. Tackling energy, logistics and governance challenges will help to unlock growth and buffer against external shocks. 'The current low inflation environment, supported by lower international oil prices and the rand's notable recovery in recent weeks, provides an opportunity for monetary policy to play a role in offsetting some of the pain inflicted on the economy by recent global developments, as many developing and developed economies have already done,' Kruger says. 'While the debate about lowering the inflation target band is ongoing, it should not prolong the pain inflicted on the economy by exceptionally high interest rates.'
IOL News
5 days ago
- Business
- IOL News
South Africa's take-home pay growth slows as interest rate decision sooms
Average take-home pay in South Africa decelerated for the second consecutive month in April, intensifying focus on the interest rate decision by the SA Reserve Bank scheduled for Thursday. Average take-home pay in South Africa decelerated for the second consecutive month in April, intensifying focus on the interest rate decision by the SA Reserve Bank (SARB) scheduled for Thursday. The BankservAfrica Take-home Pay Index (BTPI), tracking salaries of approximately 3.8 million workers, reported a nominal average take-home pay of R17 495 in April, down 2.0% from R17 846 in March. Despite this slowdown, pay remains 13.8% higher than the R15 370 recorded a year ago. Shergeran Naidoo, BankservAfrica's head of Stakeholder Engagements, noted that while take-home pay has seen gains since mid-2024, recent global and domestic economic pressures are dampening momentum. 'The upward trend in salaries marked a positive shift after years of stagnation, but escalating global trade tensions are weighing on confidence, slowing economic activity,' Naidoo said. Real take-home pay, adjusted for inflation, also declined by 2.2% to R15 005 in April from R15 344 in March, though it remains above year-ago levels. Independent economist Elize Kruger noted that South Africa's consumer inflation, which dropped to 2.8% in April 2025, has bolstered purchasing power. 'With headline CPI projected to average 3.4% in 2025, down from 4.4% in 2024, we're seeing the lowest inflation since 2020's 3.3%,' Kruger said. She attributed this to a stronger Rand and falling international oil prices, which are expected to drive further fuel price cuts in June despite a recent fuel levy hike. However, economic challenges persist. Early data suggest South Africa's quarterly 2025 real gross domestic product growth may be flat or negative, reflecting global trade war impacts and subdued domestic demand. The repo rate, currently at 7.5%, translates to a real repo rate of 4.1% - well above the neutral rate of 2.8%. This restrictive monetary stance, combined with unchanged tax brackets and new levies from the 2025 National Budget, continues to squeeze households. Kruger said a modest 25 basis-point rate cut at the upcoming SARB Monetary Policy Committee meeting could provide relief. 'Lowering borrowing costs would ease pressure on households and businesses, potentially boosting confidence and investment,' she said. However, she cautioned that a more aggressive cut is unlikely given the SARB's cautious approach. Global trade disruptions and sluggish local growth have trimmed economic forecasts, raising concerns about job and income prospects. Kruger stressed the need for structural reforms to address energy, logistics, and governance bottlenecks. 'These reforms are critical to unlocking growth and shielding the economy from external shocks,' she said. The low inflation environment, supported by a recovering Rand and cheaper oil, offers the SARB room to ease monetary policy, following the lead of other developed and developing economies. Yet, debates over lowering the inflation target band could delay relief. 'Prolonged high interest rates are punishing the economy unnecessarily,' Kruger warned. As South Africans await the SARB's decision, the slowdown in take-home pay underscores the delicate balance between fostering growth and managing inflation. With global uncertainties looming, the central bank's next steps will be pivotal for salary earners hoping for financial respite. BUSINESS REPORT Visit:
IOL News
5 days ago
- Sport
- IOL News
Transforming Manenberg: City invests R13 million in sports facility upgrades
Completion of The Greens Sports Ground in Manenberg is set for June. Image: Facebook Seven years ago, the City's Recreation and Parks Department vowed to inject a total of R19.3 million into the upgrade of various community and sports facilities across the metro, including Manenberg. This week, Mayor Geordin Hill-Lewis introduced the work done at The Greens Sports Ground in Manenberg via social media, with the City confirming the upgrades to the facility would total R13.2million. It is expected to be completed by the end of June. Previously, when the upgrades were announced, a total of R17 million was to be ploughed into work expected to be done in Manenberg and Gugulethu. The upgrades at The Greens sports complex include: timber play structure, new outdoor gym equipment, new signage, new outdoor benches, upgraded lighting and electrical infrastructure; upgraded perimeter and internal fencing, upgrades to hard surfaces (pedestrian and vehicular), two upgraded multi-purpose courts (netball and basketball), a warm-up running track, two new 5-a-side football synthetic pitches, and one upgraded full-sized football synthetic pitch. Mayco member for Community Services and Health, Francine Higham, said the project is intended to bring much-needed recreational facilities to the community. 'The project is not completed yet and the projected budget is R13 247 480. Completion is set for end June 2025 (The Greens portion of work),' Higham said. 'The facility was intended for recreational purposes and more community members of varying ages and abilities including sporting organisations will be able to utilise the facility.' 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 According to Pastor Vernon Visagie of the Manenberg Community Policing Forum (CPF), educational programmes and recreation was needed for the youth. 'We are still faced with some challenges and this one is positive but is not going to solve our problems. 'Education and the high drop out rate is what is hampering positive changes." Meanwhile, between September 2024 and the end of January, several key milestones were achieved as part of the Recreation and Parks Department's maintenance, repairs and upgrades programme. Six projects were either completed, or phased milestones achieved, with an assigned budget of just over R43 million. Manenberg's youth will benefit from enhanced recreational facilities. Image: facebook/ Belgotex Sport
