Latest news with #R1m
The Citizen
2 days ago
- The Citizen
Toti Old Crocs raise funds for Paige Bell's family in tribute match
IN A powerful gesture of remembrance and solidarity, the Toti Rugby Old Crocs recently faced off against the Hillcrest Villagers Old Boys in a charity match held in honour of Paige Bell, a young Durban woman who was found murdered aboard a luxury yacht in Nassau, Bahamas. Also read: Cross-country action in Amanzimtoti Tragically, Paige would have celebrated her 21st birthday only a few weeks after that incident. A GoFundMe campaign launched in her memory raised nearly R1m to support her grieving family. Both clubs contributed generously towards the fund. The day was marked with emotional tributes from across the world. The spirited fixture ended in a hard-fought victory for the Toti Old Crocs, who scored six tries to four. Dr Michael Mthethwa, president of Amanzimtoti Rugby Club, said that what matters was the sense of unity, healing, and community action inspired by the event in the face of an unspeakable tragedy. Veteran Amanzimtoti rugby player Jeff Harper delivered a standout performance, demonstrating stamina and leadership on the field. 'We are deeply grateful to the players, supporters, sponsors, and especially to the Villagers club's Brian Lewis, and every individual who took part in this special day. Your presence here transcends rugby. This is about showing up for one another, for our communities, and for families in mourning,' said Mthethwa. For more South Coast Sun news, follow us on Facebook, Twitter and Instagram. You can also check out our videos on our YouTube channel or follow us on TikTok. Subscribe to our free weekly newsletter and get news delivered straight to your inbox. Do you have more information pertaining to this story? Feel free to let us know by commenting on our Facebook page or you can contact our newsroom on 031 903 2341 and speak to a journalist.
TimesLIVE
6 days ago
- TimesLIVE
Sculptures stolen from art garden in Western Cape, artist calls for help
Seven sculptures were stolen from the Fomo Fine Art sculpture garden in Pringle Bay on Wednesday night. Six works by internationally known artist Anton Smit and one by mixed media artist Janko de Beer were taken. De Beer said he was devastated by what appears to have been a planned and targeted theft, which saw the front CCTV camera destroyed. 'The loss amounts to just over R1m, but the emotional and cultural loss is far greater. Theft of this nature is a blow not only to us but to the South African art community.' He called on the public to help police arrest those responsible. . 'We are also asking the public, collectors and galleries to be on the lookout for any attempt to resell or move these sculptures.'
The Citizen
03-08-2025
- General
- The Citizen
The true cost of education
As parents, we will do everything in our power to provide for our children. We sacrifice and often neglect our own needs to cement the best possible future for them. Parents often think that private schooling, expensive extracurriculars or even overseas education is the only way to invest in their futures, but the hard truth is that over-investing in your children could come at the cost of investing in your retirement. 'Quality education is important, but too often I meet people in their 60s with no retirement savings, quietly worrying about becoming a financial burden to their children,' said Hans. 'Private school fees can easily reach more than R100 000 per child. Adding additional costs for transport, uniforms, textbooks, sports, music, tutoring, a family could easily spend R1m per child, from Grade 1 to matric.' He says every parent should ask: 'Am I getting value for money from private schooling? The answer is not always a clear yes. Government schools often offer more in terms of subject choices, cultural activities and sports at a vastly reduced cost. 'Even if you add the cost of private tuition in specific subjects, you would still spend far less, while giving your child the academic support they need.' Myburgh explained that if you invested just half of what you would spend on private schooling from the time your child's birth, you could retire with a nest egg of over R3m. 'We have been conditioned to believe that putting our children first is noble, but there is one thing most parents do not consider,' he said. 'You can take out a loan for education, but you cannot take out a loan for retirement. Education is a stepping stone towards the future. If you fund it on your own, you may end up being financially dependent on them.' Factors that parents should consider: • Run the numbers early Before committing to a school, ask whether you can afford the fees while still saving for retirement. Status does not guarantee your child's future; it is about how they apply their education in the pursuit of growing opportunities. • Know your limits Do not sacrifice your family's future to fund prestige. • Balance the equation Every rand spent on education must be matched with a rand towards your retirement. • Be honest Teach your children the value of money. Help them understand that you are planning for everyone's future, not just their present. • Consider long-term impact. A child attending a good government school with present, stress-free parents might achieve more than one at an elite school whose parents are constantly worried about money. 'You love your children and you want to ensure that they have the best possible future,' said Hans, as a final thought. 'Loving them may sometimes come in the form of modelling good financial behaviour, protecting your dignity and giving them the gift of independent parents who are financially secure.' ALSO READ: Don't spend money to impress others ALSO READ: Beating inflation, the real measure of financial success
The Citizen
31-07-2025
- Business
- The Citizen
Rate cut a welcome boost for consumers and homeownership
Today's announcement that the Reserve Bank has decided to cut the repo rate by another 25bps to 7.00% (from 7.25%), and the prime rate to 10.50% (from 10.75% ) is welcome news for the economy and property market, says Samuel Seeff, chairperson of the Seeff Property Group. This is the third interest rate cut this year (fifth since September last year). Seeff says it is the correct decision given that inflation (at 3% for May) is below the Bank's target range, and the currency has been stable, trading at times below R18/USD. While this cut brings welcome relief for consumers by reducing borrowing costs and putting more money back into their pockets to spend in the economy, Seeff says it is still not enough. More needs to be done to really give the economy the rocket boost that it needs. Nonetheless, the rate cut will make home loans more affordable, and property buyers will find it slightly easier to qualify, thus opening more doors to homeownership. The total rate cuts since September mean that the interest rate will now be 1.25% lower compared to last year. The repayment on a bond of R1m (over 20-years) will therefore now be reduced by around R853 per month. We would therefore certainly encourage buyers to take advantage of the opportunities in the market, Seeff says further. Higher demand and improved house price appreciation at around 3.7% nationally (topping inflation for the first time in two years) also provides incentive for sellers, especially since many areas are in need of more property listings. While the rate cuts have been well received, Seeff says the economy and property market have not yet felt any notable impact from the rate cuts. The first quarter GDP growth was disappointing. After an initial surge, the overall property transaction volumes for the first half of this year are about 16% below the same time last year. Bolder rate cuts are needed. Since the interest rate (even after the latest cut) is still higher compared to January 2020 before the onset of the Covid-pandemic, we continue to urge the Bank to step up with more cuts now while inflation is contained, and the currency stable. As a result of the 25bps rate cut, mortgage repayments will reduce by: R750 000 bond – from R7,614 to R7,488 – saving R126 R900 000 bond – from R9,137 to R8,985 – saving R152 R1 000 000 bond – from R10,152 to R9,984 – saving R168 R1 500 000 bond – from R15,228 to R14,976 – saving R252 R2 000 000 bond – from R20,305 to R19,968 – saving R337 R2 500 000 bond – from R25,381 to R24,960 – saving R421 R3 000 000 bond – from R30,457 to R29,951 – saving R506 R5 000 000 bond – from R50,761 to R49,919 – saving R842 (Based on a 20-year repayment period at the prime rate) Issued by Gina Meintjes
The Citizen
26-07-2025
- General
- The Citizen
Fury over massive rates and taxes billing crisis in ELM
VANDERBIJLPARK – A storm is brewing in Emfuleni Local Municipality (ELM) as fed-up residents lashed out over massive water and electricity bills for services they say they never used. This comes after dozens of angry homeowners, especially from Vanderbijlpark, descended on ELM offices demanding answers and action. Angry residents complained about outrageous bills, with some reaching into the hundreds of thousands, and a few even exceeding R1m. Despite the municipality having launched a 50% debt relief campaign to recoup some of the outstanding water and electricity payments, residents complain about incorrect billings for water and electricity. One resident, Thuli Mkadula said, 'We wish the municipality would write off our bills. No resident will be able to pay rates and taxes of approximately R700 000. We are willing to pay the municipality as long as they bill us correctly.' Mantoa Mkomotoane said, 'I was paying R3 000 and later paid R1 000. Now I pay R600 every month, however, every month the bills go up. I don't know where the R1.7m they claim I owe the municipality comes from.' ELM spokesperson Makhosonke Sangweni disputed the claims. 'The municipality will deal with the disputes the community is bringing forward. Inconsistency in billing is not only limited to our municipality, but the entire country is going through such challenges. As a municipality, we have been working on resolving these issues; hence, we have a dispute resolution committee, and we will continue,' he said.
