Latest news with #R18
IOL News
2 days ago
- Automotive
- IOL News
Armoured Mobility now offering an armoured Chery Tiggo 8 for under R20,000 per month
Buying an armoured vehicle in South Africa no longer necessitates sneaking into a warehouse at an ungodly hour with a briefcase full of cash. Jokes aside, armoured vehicles are becoming more mainstream and easier to finance, as an increase in crimes such as hijacking, kidnapping, and assassinations lead South Africans to seek more protection on the streets. One of the most affordable complete armoured vehicle solutions in South Africa is the B4 Chery Tiggo 8 Pro Max offered by Joburg-based Armoured mobility, and it is now more accessible thanks to a new finance package. The B4-armoured Chery is priced at R1,299,900, and those opting for the finance will pay R18,999 per month, over 72 months at 10.75% prime. It does require a deposit of R300,000 however.
The South African
4 days ago
- Entertainment
- The South African
Simone Ashley's look inspires a fashion revolution
British actress Simone Ashley, known for her breakout in Bridgerton , was photographed on the set of the film in Midtown, New York. She wore striking opaque black knee-high socks paired with black patent leather pointed-toe pumps, featuring a high strap reminiscent of classic Mary Janes. Simone Ashley finished her look with a tapestry-style dress by Monse. The dress costs approximately R18,500 (converted from $990). It displayed a quirky UFO motif and delicate black harness straps. She layered it over a crisp white shirt with a Peter Pan collar, another nod to the school-inspired aesthetic, according to WWD. Other celebrities have joined the movement. Singer Ciara, in New York, wore pristine white socks inside the bold Christian Louboutin Condora pumps. Keke Palmer also turned heads at the Essence Festival of Culture in New Orleans. She wore Louboutin pumps too, this time finished with sheer, bow-adorned socks. Palmer shared, 'This look feels fresh. It's a playful twist on tradition, and I love how it changes the vibe.' For fashion lovers, this is more than just a global fad. Durban fashion blogger Sipho explained, 'With our climate, socks and heels are practical. Nights can be cool, but you still want to look sleek. Plus, the ability to mix colours and textures brings more life to everyday looks.' It seems the socks and heels trend, once frowned upon, is now a badge of bold, eclectic style. Filming for The Devil Wears Prada 2 is currently underway in New York City. This marks the highly anticipated return of the beloved fashion-focused sequel nearly two decades after the original film. The production has captured key cast members, including Anne Hathaway as Andy Sachs. She has evolved into a powerful figure in the fashion media world, and Meryl Streep reprised her iconic role as Miranda Priestly. The sequel, directed again by David Frankel with a screenplay by Aline Brosh McKenna, explores the challenges Miranda faces as the magazine industry changes. As more local designers take notice, don't be surprised if you see daring combinations on Bree Street or Sandton Square soon. Fashion, after all, is about rewriting the rules, and South Africa loves a revolution. 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
5 days ago
- IOL News
Prasa says it is cooperating with Hawks amid R18 billion tender probe
Prasa is cooperating fully with the Hawks after a raid on its offices linked to an investigation into irregular tenders worth billions. The agency stresses transparency and accountability in the probe. Image: Henk Kruger / Independent Newspapers The Passenger Rail Agency of South Africa (Prasa) is under intense scrutiny after the Directorate for Priority Crime Investigation (Hawks) executed a high-profile raid at its Braamfontein headquarters on Wednesday, July 23, 2025. The operation forms part of an escalating investigation into irregular tenders allegedly worth a staggering R18 billion. In a letter released on Saturday, July 26, 2025, following the raid, Prasa stated that it is 'fully cooperating' with the Hawks after the seizure of laptops, cell phones, and critical documentation from senior executives' offices. The agency emphasised its commitment to transparency, accountability, and its core mission of providing safe, reliable, and efficient rail services to the public. The Hawks obtained a search warrant to collect various information and electronic devices amid increasing allegations of corruption and mismanagement at the agency. However, authorities have been tight-lipped about the specifics, aiming to preserve the integrity of the ongoing investigation. Prasa welcomed the Hawks' involvement and assured the public that it has nothing to hide and remains committed to supporting all legitimate investigative processes. ''The Agency has nothing to hide and stands ready to provide complete cooperation to law enforcement authorities,'' said Prasa. Prasa also said it will 'provide further updates as appropriate, while respecting the integrity of the ongoing investigation.' National spokesperson for the Hawks, Brigadier Thandi Mabombo, confirmed the operation, stating: 'An operation was conducted as part of an ongoing investigation. To protect the integrity of our investigation, we cannot disclose details about that operation.' [email protected] Get your news on the go, click here to join the IOL News WhatsApp channel. IOL News
The Citizen
5 days ago
- Business
- The Citizen
Prasa initiates probe into R18bn tender after Hawks raid
The Hawks swooped in on Prasa's headquarters in Braamfontein seizing laptops, mobile phones and a trove of documents. A Passenger Rail Agency of South Africa (Prasa) train seen in Pretoria on 13 July 2015. Picture: Gallo Images / Alet Pretorius The Passenger Rail Agency of South Africa (Prasa) had initiated an independent forensic investigations into allegations of corruption in connection with two R18 billion tenders for train signalling equipment. The Hawks swooped in on Prasa's headquarters in Braamfontein on Wednesday afternoon, seizing laptops, mobile phones and a trove of documents of the rail agency's top executives and other employees. Forensic investigation Hawks spokesperson Brigadier Thandi Mabombo said the operation was conducted as part of an 'ongoing investigation.' Prasa spokesperson Andiswa Makanda said the Directorate for Priority Crime Investigation (Hawks) presented a search warrant for its Braamfontein offices. 'Prasa initiated an independent forensic investigation after receiving a submission from a Whistleblower. Documents and information related to this matter were secured through this proactive forensic investigation'. ALSO READ: Former Prasa head of security fails to get job back in 7-year legal battle 'Nothing to hide' Makanda said the information was 'readily available for sharing with the law enforcement authorities.' 'The Agency has nothing to hide and stands ready to provide complete cooperation to law enforcement authorities. The Agency will continue to implement robust governance measures and maintain the highest standards of accountability while fully supporting all legitimate investigative processes'. Fraud Senior officials at Prasa allowed two tenders amounting to almost R18-billion, to be awarded to a company, seemingly without the basic bid criteria being met, according to GroundUp. A report compiled by a whistleblower alleges Prasa had also fraudulently made advance payments to the company – Maziya General Services – amounting to almost R2.7-billion through five transfers during December 2023 and December 2024. The allegations are related to two tenders awarded to Maziya General Services. Tenders These are for a 'global system for mobile communications-railway redundancy network' in KwaZulu-Natal, Gauteng, and Western Cape (Bid 112), and a 'PRASA train control system' in KwaZulu-Natal (Bid 120). The tenders were published in November 2021 and October 2022 respectively. According to the report, the respective tender amounts awarded were R6.3-billion and R11.1-billion. Transparency The Chairperson of the Select Committee on Public Infrastructure and Minister in the Presidency, Rikus Badenhorst, said the allegations against the Prasa executives are concerning. 'This highlights a need for transparency and accountability within Prasa. The committee will monitor the developments at Prasa as it is important for the investigation to come to expose the alleged corruption within the entity'. Badenhorst called on the Minister of Transport, Barbara Creecy, to report back to the committee once investigations into the matter were complete, as the outcome was crucial to resolving one of the key obstacles hindering Prasa's progress on signalling. NOW READ: ConCourt sets date for MK party's case against Ramaphosa over Mchunu
IOL News
6 days ago
- Business
- IOL News
SARB missed key opportunities to cut interest rates, says property group
The South African Reserve Bank's potential interest rate cut next week could aligns with global monetary policy trends. Image: SARB/Facebook The South African Reserve Bank (SARB) has definitely missed at least two vital opportunities to cut the interest rate, says Samuel Seeff, the chairman of the Seeff Property Group. He told "Independent Media Property" that the lacklustre economy and the property market need an injection of energy, and no doubt it needs a rate cut, while the Bank has been too overly cautious. 'This is not a time for a 'wait and see' approach; it's time for bold action, and a cut of at least 25bps. "The SARB stance has been particularly disappointing given that the data has been very favourable for lower rates throughout this year, with inflation below or near the bottom of the target range, and the ZAR relatively stable, notably trading below R18, even after Trump's latest tariff comments,' Seeff said. While global markets are dealing with the economic uncertainty triggered by US tariff hikes, South Africa's residential property sector continues to show encouraging signs of resilience. BetterBond's data for July shows that bond applications have risen by 7.4% for the 12 months to May 2025, with home loans granted up by an impressive 13.6%, says Bradd Bendall, BetterBond's National Head of Sales. He said this points to renewed buyer confidence and a more stable market environment. 'Driving this upward trend is the recent easing of interest rates. With inflation recently comfortably within the 3 to 6 percent target range, we expect the South African Reserve Bank to announce another 25 basis point rate cut when the Monetary Policy Committee meets next week,' Bendall said. He said this would drop the prime lending rate to 10.5%- a level last seen in November 2022. 'Although not quite at pre-pandemic levels, this cut would bring welcome relief to homeowners and consumers. On a R2 million bond, for example, the lower prime lending rate would mean a saving of just over R300 a month.' 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 BetterBond said this potential cut aligns with global monetary policy trends. This was because both the Bank of England and the Reserve Bank of India are expected to reduce rates in August, suggesting a broader shift toward interest rate easing to stimulate economic activity. The US Federal Reserve is also expected to lower rates when it meets on 30 July, and the South African Reserve Bank is likely to follow suit the following day at its rate announcement, the bond originator said. Seeff said its take is that the Reserve Bank needs to be bold and act in the interest of the South African economy. 'The MPC needs to focus on what the SA economy needs, a bold rate cut which can serve as a rocket to push the economy and try and grow the GDP, a critical necessity given the unemployment rate and what is best for everyone in South Africa.' The next SARB's Monetary Policy Committee will announce the July interest rates decision next week. Independent Media Property
