Latest news with #R180
IOL News
17-05-2025
- Business
- IOL News
EFF raises concerns over Gold Rush Consortium's mooted National Lottery takeover
IOL The Economic Freedom Fighters (EFF) expresses grave concerns over the selection of the Gold Rush Consortium as the preferred bidder for South Africa's National Lottery, citing political interference and conflicts of interest that threaten the integrity of the process. Image: File The Economic Freedom Fighters (EFF) has expressed deep concerns over reports that the Gold Rush Consortium has been selected as the preferred bidder to operate the National Lottery for the next eight years, under a contract valued at R180 billion. The consortium is led by KwaZulu-Natal businessmen Moses Tembe and Sandile Zungu. This lottery bidding process has been marred by allegations of political interference, conflicts of interest, and a flagrant disregard for principles of ethical governance. Durban businessman Moses Tembe. Picture: Independent Newspapers Archives Image: Independent Newspapers Archives 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 ✕ This is according to Sinawo Thambo, the EFF's National Spokesperson. Serious questions have arisen over the integrity of the evaluation process, particularly due to the involvement of individuals with direct financial and social ties to the Gold Rush Consortium, Thambo said. Thambo specifically noted that Thiran Marimuthu, a member of the National Lotteries Commission (NLC) bid evaluation committee, has close professional and personal connections to Gold Rush. Another committee member, Anne-Marie Pooley, is listed as the sole director of Route 515 Pub and Grill in Pretoria, a venue that hosts Gold Rush gaming machines. These relationships undermine the impartiality of the bidding process and create the risk of collusion and procedural manipulation, he added. "The EFF strongly condemns Minister of Trade, Industry and Competition Parks Tau's decision to move forward with negotiations behind closed doors. His refusal to provide clear answers to direct questions, while holding private consultations with the NLC, casts serious doubt on the transparency and legality of the process," Thambo said in a statement. Businessman Sandile Zungu Image: Independent Media Archives The EFF argued that the promotion of the Gold Rush Consortium, despite the evident conflicts of interest reflects a broader pattern of patronage and elite capture that has come to define the ANC-led government. Thambo said that such politically driven appointments threaten the effective functioning of the National Lottery. With the current licence held by Ithuba set to expire in May 2025, the incoming operator must begin work at least six months in advance to establish critical infrastructure. This includes implementing secure and sophisticated technological systems, securing retail and digital platforms, and ensuring full compliance with regulatory standards. Any delays in this transition period will disrupt the Lottery's essential contributions to social development, such as funding charitable organisations, supporting youth empowerment, bolstering educational efforts, and sustaining vital community upliftment projects. Thambo argued that by favouring politically connected individuals over a fair and transparent process, this decision undermines the developmental mission of the National Lottery and endangers the well-being of countless South Africans who rely on its resources. The EFF has demanded that Minister Tau be held accountable before Parliament for the tainted manner in which this licence is being awarded. "We will not remain silent while a critical public institution is captured through cronyism, conflict of interest, and political favouritism. The National Lottery must serve the people, not the interests of the politically connected," Thambo said. IOL NEWS
IOL News
13-05-2025
- Entertainment
- IOL News
Fans react as Kelvin Momo faces R2. 8 million lawsuit for missed performances in Australia
Kelvin Momo's no show for Australia gig leads to big bills Image: Instagram Amapiano sensation Kelvin Momo, real name Thato Ledwaba, is facing a financial threat after Australian firm Ace Events filed court papers seeking the liquidation of his company, Kelvin Momo Production. The claim alleges that the 31-year-old hitmaker's company owes up to R2.8 million in refunds and damages due to his failure to perform at two scheduled shows in Australia last year. According to "Sunday World", Ace Events director Million Mwenge Butshiire stated that Kelvin Momo and his team received a 50% deposit for the performances but they failed to show up. The agreement between Momo and Ace Events specified that: Performance dates He was scheduled to perform for 60 minutes at Melbourne on November 2, 2024 and then again at Perth on November 3, for 60 minutes. Payment terms US$10,000 (over R180 0000) performance fee for Melbourne US$7,500 (over R137 000) performance fee for Perth 50% deposit paid upfront, with the balance due seven days before the event The agreement stipulated that if Kelvin Momo missed the performance, they would reschedule within three months of postponement/cancellation. Failure to perform and reschedule would require an immediate refund to the promoter. Ace Events claims that Momo did not show up for the gigs and failed to refund the promoter or reschedule the performances within the agreed time frame. This is not the musician's first instance of missing a gig. In April, he sparked fan outrage after failing to appear at Piano Palooza in Zambia. Kelvin Momo claimed he had a conflicting gig in Limpopo and could not catch his flight but fans were left disappointed and frustrated. A screenshot of a disclaimer from the Essence Aampiano Sundowner that was meant to take palce in November, 2024 at Port Breach Brewery, Austraila but could not proceed due to Kelvin Momo not showing up. Image: Screenshot Meanwhile, fans have taken to social media to react to the news. Some are wondering why Momo continues to flake on his gigs, while others are joking that maybe his prolific music output is a result of trying to make up for his debt. X user @thegirlthato_ asked: 'I wonder if Kelvin Momo is overbooking or whether he is just lazy and unserious.' 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 ✕ I wonder if Kelvin Momo is overbooking or whether he is just lazy and unserious — Tee (Thato) (@thegirlthato_) May 11, 2025 Some just want the amapiano heavyweight to take accountability. @Siya_ZAR commented: "As much as it looks bad, artists need to take responsibility. These are other people's livelihoods and careers they are messing up so they must take accountability." As much as it looks bad, artists need to take responsibility. These are other people's livelihoods and careers they are messing up so they must take accountability — Siya (@Siya_ZAR) May 11, 2025 'I live in Perth Western Australia and he was about to have the biggest amapiano concert of the year. We were so disappointed to find out gore (that) he missed di flight tsotlhe (all the flights),' said @Thobirama_. I live in Perth Western Australia and he was about to have the biggest amapiano concert of the year. We were so disappointed finding out gore he missed di flight tsotlhe. Chelete ase mathata mara he disappointed us — Thobo Ramalepa (@Thobirama_) May 11, 2025 @Minddemic also added: 'I bought a ticket to see him perform in Zambia .. last month .. he didn't show.. so many us South Africans who were there felt let down and embarrassed by the unprofessionalism displayed.. the company still hasn't refunded us ama thousands wethu (our thousands) for tickets.' I bought a ticket to see him perform in Zambia .. last month .. he didn't show.. so many us South Africans who were there felt let down and embarrassed by the unprofessionalism displayed.. the company still hasn't refunded us ama thousands wethu for tickets. — SirJari™ (@MindDemic) May 12, 2025 The firector of Until Until events, Thuly Thulz (Thulani Dandala) has touched on his frustrating experiences working with amapiano acts, highlighting chronic lateness, mismanagement and a general disregard for professionalism. He added that there were instances where amapiano artists have missed entire shows that they were booked for. Despite the controversy, is set to headline the sold out Red Bull Symphony next month June.
The Citizen
10-05-2025
- The Citizen
Six vehicles targeted in one week by wheel syndicate
Six vehicles targeted in one week by wheel syndicate Wheel syndicates responsible for terrorising Middelburg for years on end have ramped up their operations, targeting six vehicles in less than a week. Friday Two bakkies were hit early this morning at the Big Five Complex in Walter Sisulu Street. According to Phillip Schoonraad, the wheels were stolen off his Jag double cab at 02:00 this morning. The syndicate also stole the wheels from another complex resident's Toyota Hilux at the same time. According to a quote, it will cost Schoonraad R35 000 to replace the wheels on his bakkie. Wednesday Antionette Delport told the Middelburg Observer that their three Toyota Hilux bakkies were struck on Wednesday in Kanonkop. The Delports live in the Kanonkop Flats close to Hoërskool Kanonkop. Thieves stripped the couple's two personal vehicles as well as her husband's work vehicle, making off with 13 tyres in total, including a spare wheel. The stint is costing an estimate of R180 000 in damages, owing to the fact that the tyres, rims and nuts were all stolen. 'The cheapest quote we have received totals to R30 000 per vehicle, but obviously the quality of the tyres, rims and nuts are much lower than the original sets on our bakkies,' Delport explained. The couple opened a case at the Middelburg Police Station following the thefts. Monday The Middelburg Observer reported on another theft of wheels, which took place on Monday. According to Wanita Rademeyer, the wheels were stolen from her Suzuki Swift in Oribi Street, Kanonkop. She estimated the value of her wheels between R6 000 to R8 000 per wheel, due to the cost of the mags. 27 April Another small vehicle was targeted in Helen Joseph Street, Dennesig on April 27. The wheels were stolen from a Kia Picanto and thieves also made off with tools, full diesel cans and a fire extinguisher, rounding off the cost of damages to a total of R45 000. Also read: Wieldiewe soek nou kleiner modelle se wiele! Wheels stolen from vehicle in Dennesig At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
IOL News
09-05-2025
- Entertainment
- IOL News
Lightning strikes as YesPlay player scoops R577,620 from R180 bet
Experience the thrill of online gaming as a YesPlay player strikes it rich, winning R577,620 from a mere R180 bet on Pragmatic Play's Gates of Olympus slot. Zeus, the mighty Greek god of thunder, has bestowed his divine favour upon one incredibly fortunate YesPlay player, delivering a staggering R577,620 payout from a R180 stake on Pragmatic Play's electrifying slot, Gates of Olympus. The astronomical win unfolded during the game's coveted Free Spins feature, where lightning quite literally struck not once, not twice, but four times in a single tumble. On just the fourth spin of fifteen awarded free spins, the heavens opened as Zeus unleashed his legendary multiplier power with consecutive strikes of 4x, 6x, and then an incredible 250x appearing three times in rapid succession. This divine intervention created a monumental 760x combined multiplier that transformed what would have been an ordinary tumble into an eye-watering R471,960 win in one breathtaking moment. "We're absolutely thrilled for our player," said Peter G. Head of CRM, at YesPlay. "This is exactly the kind of life-changing moment that makes online gaming so exciting. Zeus certainly showed his generous side in this extraordinary session." The celestial drama didn't end there. Throughout the remaining free spins, Zeus continued to tease with another 500x multiplier appearing during various non-winning tumbles, building anticipation for what might come next. By the conclusion of the fifteenth spin, the player had amassed a monumental R577,620 total win—all from an initial R180 wager. This represents one of the most phenomenal multiplier wins on YesPlay's platform this year, with the 3,209x return showcasing the phenomenal potential of Pragmatic Play's mythological masterpiece. YesPlay continues to cement its reputation as South Africa's premier destination for online gaming thrills, with this win following a series of significant payouts across their diverse portfolio of world-class games. About YesPlay YesPlay is a premier online gaming platform offering a wide range of casino games and sports betting options. Licensed by the Western Cape Gambling and Racing Board, YesPlay is committed to providing a safe, fair, and enjoyable gaming experience for players across South Africa. For more information about YesPlay and its exciting game offerings, visit Note: YesPlay promotes responsible gaming. Please play responsibly.
The Citizen
08-05-2025
- Business
- The Citizen
Capitec CEO tops banking pay charts — but how do staff salaries compare? A look at how SA's top five banks pay
Capitec paid its CEO the highest salary, while Standard Bank leads in average employee pay. The pay gap between executives and ordinary staff members at companies is mind-blowing, as the remuneration for one executive often exceeds the combined salaries of ten staff members. However, given the differences in qualifications, experience, and responsibilities between executives and other staff members, the difference is surely justifiable. But to what degree? According to data obtained by The Citizen from South Africa's top five banks, Capitec paid its CEO the highest annual salary, while Standard Bank offered the highest average pay to its employees. The lowest-earning CEO in the top five banks is from Absa, with more than R6 million per annum, while the lowest-earning employee is from FNB/FirstRand. ALSO READ: From Standard Bank deputy CEO to Absa CEO: What Kenny Fihla's salary could look like How are CEOs and staff salaries set? The salaries of a CEO and a staff member are set in different ways. A CEO's salary is typically set by the board of directors, which oversees the company's strategic direction and governance. The board assess the CEO's performance and sets remuneration in alignment with company goals and values, often consulting with external experts and benchmarking against similar companies. The board also considers factors such as the CEO's experience, the company's size and growth, and key performance metrics. The remuneration usually includes a fixed yearly salary, benefits, performance-based bonuses, and shares. Ordinary staff members' salaries are typically set according to their job position, qualifications, experience, market benchmarking, and the company's size. Staff members' remuneration does not usually include significant benefits, bonuses, or shares. Capitec CEO highest paid in banking Francois Viviers, Group Executive of Marketing and Communications at Capitec told The Citizen 62% of their employees earn between R250 000 and R500 000 annually. The bank did not specify which job positions are included in the 62% and which are not. But Viviers said this is an increase of 18% from 2021, where 9% of their employees were earning below R180 000 annually. According to the bank's financial results for the year ending 28 February 2025, its outgoing CEO Gerrie Fourie's annual salary and provident fund is over R18 million, with benefits worth R118 000. When including short and long-term incentives, his total cost to company for the year was over R104 million. ALSO READ: Pay gap: These CEOs earn on average 597 times what lowest paid workers earn FirstRand average salary for employees lowest Donald Khumalo, chief people officer at FNB told The Citizen from 1 August 2024, its parent company, FirstRand increased the minimum wage for banking roles to R215 000 per annum, and R185 000 per annum for non-banking roles. He added that the bank is set to announce salary increases on 11 September 2025 in line with their annual reporting cycle. FirstRand Group has a complement of 39 496 in South Africa. According to the latest available remuneration report, which covered the year ended 30 June 2024, FirstRand CEO Mary Vilakazi, who took office on 1 April 2024, received a total guaranteed remuneration of R9.4 million. This included a cash package of R8.9 million, retirement contributions of R187 000, and other allowances of R242 000. Meanwhile, FNB's CEO, Harry Kellan, received guaranteed remuneration of R9.4 million. This included a cash package of R9 million, retirement contributions of R74 000, and other allowances of R266 000. Lowest-earning CEO in banking An Absa spokesperson told The Citizen the lowest cost of company for their ordinary staff member was increased to R250 000 in April 2025. Absa said a person who would get this amount is someone in an entry-level, junior teller, junior customer services officer, junior sales consultant. Absa's staff salaries for 2024 were R26 billion, with bonuses amounting to R3 billion, and training costs of R524 million. As of 31 December 2024, the bank had 36 779 employees, 26 542 of whom are employed in South Africa, 10 037 by Absa Regional Operations (ARO), and the rest internationally. Its outgoing CEO, Charles Russon received total remuneration of R35 472 245 in 2024. From that amount, more than R6 million was for his salary, R245 940 went to medical aid, retirement benefits cost R196 856, and other employee benefits for R72 606. The rest of the remuneration includes a cash award of R7 250 000 and a deferred share award of R6 250 000. He received R13 500 000 for total short-term incentives, while the face value of the long-term incentive award (on-target award) was R15 000 000. ALSO READ: Absa and Standard Bank raised their minimum salaries for 2025 – here's the new pay Highest paid employees in banking Standard Bank's remuneration report revealed that its lowest employee will earn R258 390 per annum, which is an increase from R244 920. It did not specify which role this would be. The bank spent R27 billion on staff salaries and wages, and R1.5 billion on pension and other post-employment benefits in 2024. CEO Sim Tshabalala walked away with more than R89 million in remuneration. Out of the R89 million, his annual salary cost the bank more than R10 million. The remaining amount was shared between employer retirement contributions, benefits and allowances, cash incentives, deferred incentives, the Performance Reward Plan (PRP) and the Nominal dividend on PRP award vesting. How much is Nedbank paying? Nedbank said its lowest-paid full-time permanent employees earned R225 000 a year (R18 750 a month) in 2024, but the bank said this would increase to R240 000 (R20 000 a month) in 2025. It spent more than R22 billion in 2024 on staff salaries. Jason Quinn, the CEO of Nedbank, received a total awarded remuneration of R106 million, with a guaranteed salary of R6 million. The guaranteed remuneration includes the cash portion of the package, other benefits, and a defined-contribution retirement fund. The remaining funds are divided between two cash performance incentives: one paid in cash and the other in shares. NOW READ: Here's how much the CEOs of SA's largest retailers are paid
