Latest news with #R2.1-billion
TimesLIVE
24-05-2025
- Business
- TimesLIVE
Zulu spirit meets French flair as Club Med makes history with first SA resort
Tinley Manor is the kind of coastal town that whispers rather than shouts. Tucked just north of Ballito along KwaZulu-Natal's Dolphin Coast, it's a stretch of unspoilt shoreline where the Indian Ocean rolls in rhythmically, its waves folding like silk onto the sand. It should come as no surprise that this sugar cane-swathed haven is the location for the first Club Med resort in South Africa. The French brand, known for its all-inclusive barefoot luxury, chose the untouched charm of Tinley Manor for a reason: it's quiet, it's coastal and it has heart. Since March 2024, Club Med SA has been steadily transforming the site from the ground up. When I visited this month, the air buzzed — not with the hum of holidaymakers, but with the hard graft of making magic. Hard hats on, reflector vests zipped, we moved through the construction site past half-built villas and the shell of what will become a 1,000-seater restaurant. Trucks heaved, cranes groaned and workers in blue overalls worked in rhythm, laying the bones of what will soon be a R2.1-billion sanctuary of sun, surf and serenity. Project director Chris du Toit greeted us with a firm handshake, then gestured across the land. 'We've got 1,400 people working here,' he said, the pride clear in his voice. 'Over 50% of them are locals from within a 10km radius. Crime in the area has dropped by 60% because people are employed and hopeful again.' On the appeal of the locale for prospective guests, 'People want warm water and sunshine,' Du Toit says. 'KZN gives you 10 months of good weather a year. And we're just 20 minutes from an international airport, on one of the best beaches on the North Coast.' In a few months' time, there will be 345 hotel rooms, 64 luxury villas, a 500-seater conference space, private pools, a wellness centre and a main pool so central it might as well have its own passport stamp. 'For us, this is a very exciting project,' says Ken Ogwang, senior dealmaker at the Industrial Development Corporation (IDC), a funding partner on the project. The IDC is no stranger to funding tourism projects and recently backed the Premier Hotel Thohoyandou and the Radisson Blu Durban uMhlanga. 'We know what Club Med means in the global tourism landscape. We're not just getting the expertise, we're getting the brand strength. That's a big deal for this region.' The resort will offer all the signature Club Med indulgences: you pay one rate and everything else — from yoga to watersports to cocktails — is sorted. Whether you're a solo traveller, a family on holiday or a couple chasing a barefoot honeymoon, there's no need to think about what to eat, where to go or what to do. Ogwang says: 'You want for nothing, you think about nothing. There's entertainment, sports activities, a dancing experience... and that's what we're selling.' Sport is big here. Really big. Think padel tennis, beach volleyball, archery and sailing. It will be the first Club Med globally to feature a surf school — and they picked a coastline that delivers waves with just the right bite. The resort will also have a fitness centre with daily classes, a spa, a wellness centre and an adults-only pool and bar. But the real magic? The fact that you can easily go from catching waves to spotting lions. Just over three hours from Tinley Manor, Club Med's upcoming safari lodge in the Mpilo Game Reserve will round off the resort's 'bush-and-beach' offering, giving guests the rare chance to spot the big five in the morning and be sipping sundowners by the sea at dusk. Kagisho Bapela, Head of Services at the IDC, says the duality of this resort is what sets it apart. 'People will get to experience our culture, like the Zulu traditions and customs. The resort will also have the game reserve, so people can have the beachfront experience and a wildlife experience in the same visit. We are building an economic asset in the country that leverages global standards using local expertise and resources — a game changer!' The investment — financial and emotional — runs deep. 'This isn't just another resort,' says Ogwang. 'It's a brand that's trusted worldwide, but we're also bringing in local interior designers to pull through South African cultures and colour. International travellers will get a real feel for KZN — that vibrancy, the warmth, the soul.' The resort's main centre will include a shopping area, wine corner, gourmet restaurant and bar — all wrapped in views of the ocean. And for those needing to mix business with beach, there's a 500-seater conferencing facility — though, truth be told, it might be hard to concentrate when the sea is calling. It's the kind of all-inclusive escape that has long lured travellers to islands like Mauritius or Bali. Only this time, it's homegrown. Local. With an unmistakable African heartbeat. The resort is expected to open in July 2026, bringing in that Mzansi spirit with a side of French flair, and the kind of barefoot luxury that doesn't shout, it simply whispers, 'You're here.'
The Citizen
23-04-2025
- Business
- The Citizen
Tshwane's financial turnaround signals hope for sustainable recovery
The Tshwane metro has received a welcome vote of confidence from Global Credit Ratings (GCR), which has affirmed the metro's unsolicited long-term rating while revising its outlook from Stable to Positive. This follows sustained progress in the municipal fiscal management, particularly in tackling long-standing liquidity constraints. The revised outlook comes amid signs of recovery, marked by an operating surplus of R2.1-billion for the financial year ending June 30, 2024, up from R1.3-billion the previous year. GCR further noted an improvement in liquidity, with year-end cash balances doubling from R1-billion in 2023 to R2-billion in 2024. According to the GCR, much of this is credited to the reclassification of highly liquid investments and stricter spending controls. Deputy Mayor Eugene Modise welcomed the rating revision. He said it reflected the metro's commitment to transparent, disciplined governance. 'This improved outlook is not just a credit rating; it's a reflection of our commitment to rebuilding the financial health of our city,' Modise said. 'Through strategic debt reduction, improved billing, and firm expenditure controls, we are gradually restoring confidence in our administration.' The rating agency highlighted key contributing factors, including improved billing accuracy, moderate tariff increases, and stronger interest collection from outstanding debtors. Notably, the metro has also made strides in addressing its debt with Eskom, reducing the total from R6.7-billion in November 2024 to R5.6-billion by March 2025. Modise added that Tshwane's financial progress will directly benefit residents. 'A stronger financial foundation means we can better deliver on our promise of reliable services, responsive governance, and critical infrastructure investment,' he said. 'We remain focused on ensuring every rand is spent wisely and transparently.' GCR acknowledged ongoing challenges, such as the need for continued improvements in cash flow and long-term debt management. Modise said the positive shift in outlook opens up investment opportunities and improves the metro's fiscal credibility in the eyes of national and international stakeholders. 'A positive rating outlook also improves investor confidence, potentially drawing new funding and partnerships into the metro's development plans, particularly around service infrastructure and economic upliftment in underserved communities,' he said. Financial experts note that the metro's ability to secure a fully funded budget and adhere to repayment plans demonstrates a significant step toward long-term sustainability. 'These developments are not just about numbers,' said Modise. 'They are about restoring the greatness of our city through diligent service delivery, efficient resource management, and collaboration with the people of Tshwane.' Modise insisted that continued execution of its financial recovery strategy is essential. He said the focus will remain on maintaining liquidity stability, enhancing revenue collection, and improving service delivery through better governance. ALSO READ: Sinoville residents reclaim their street and battle illegal squatters Do you have more information about the story? Please send us an email to bennittb@ or phone us on 083 625 4114. For free breaking and community news, visit Rekord's websites: Rekord East For more news and interesting articles, like Rekord on Facebook, follow us on Twitter or Instagram or TikTok. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
