Latest news with #R2.2
The Citizen
7 hours ago
- The Citizen
Trio convicted for gruesome farm attack in Eastern Cape
The accused tortured a farm owner by binding him, scalding him with hot water, and threatening to dismember him with a chainsaw. Three people who tortured a farm owner by binding him, scalding him with hot water, and threatening to dismember him with a chainsaw in the Eastern Cape have been convicted following the gruesome farm attack. The trio, 26-year-old Odwa Dyabana, 29-year-old Luthando Ngangelizwe and 31-year-old Siseko Qhayisa, were found guilty by the Eastern Cape High Court sitting in East London. The farm attack occurred on 20 February 2024 at Lorain Farm in Bluewater, within the Buffalo City Metropolitan Municipality. Conviction on multiple charges The three were found guilty on multiple counts, including robbery with aggravating circumstances, attempted murder, pointing of a firearm, five counts of kidnapping, four counts of unlawful possession of a firearm, and unlawful possession of ammunition. In addition, Dyabana was convicted of culpable homicide and reckless and negligent driving in a fatal motor vehicle collision that occurred during their attempt to flee. National Prosecuting Authority (NPA) regional spokesperson Luxolo Tyali said a fourth suspect, 26-year-old Lundi Magobongo, who had also been charged, was acquitted. 'This is after the court accepted his version that he was a contracted e-hailing driver who merely transported the accused and found that there was no evidence linking him directly to the commission of the crimes'. ALSO READ: Four arrested for Free State farm murder, kidnapped wife rescued The farm attack During the trial, the court heard how the trio arrived at the farm under the pretence of wanting to buy dogs. Once they had gained the trust of the farm owner, they lured him to the kennels using his Toyota Land Cruiser. There, they produced firearms, tied him up, and returned to the farmhouse, where they continued their robbery. Tyali said the farm owner and four employees were assaulted, kidnapped, and held hostage during the ordeal. 'The attackers tortured the farm owner by binding him, scalding him with hot water, and threatening to dismember him with a chainsaw in an attempt to force him to reveal the location of safe keys. Accused fled the crime scene 'When their efforts to access the safes failed, the assailants used tools to dislodge them from the walls, loaded them onto the stolen Land Cruiser, and fled the scene in a convoy that included the victim's Toyota Hilux,' Tiyali said. Tiyali said the stolen goods, which included the two vehicles, rifles, wedding rings, wristwatches, binoculars, and other valuables, were valued at more than R2.2 million 'As the accused fled the scene, a collision occurred on the N2 near Beacon Bay between the Land Cruiser, a Toyota Quantum and VW Polo, during which a woman sustained spinal injuries and later passed away in hospital. 'The remainder of the 15 passengers sustained minor to severe injuries. Dyabana was also convicted of her death,' Tiyali said. Arrest near crime scene Dyabana and Ngangelizwe were apprehended near the scene during the getaway — Ngangelizwe after falling from the back of the Land Cruiser, and Dyabana while trying to flee on foot. 'Qhayisa evaded arrest at the time but was captured a few days later. 'The accused pleaded not guilty to all charges. Sentencing proceedings are scheduled to take place from 1 to 4 July 2025 at the East London High Court,' Tiyali said. The NPA said it will 'pray for the court' to impose harsh sentences for the crimes. ALSO READ: Calls to address farm murders after Trump meeting [VIDEO]
IOL News
4 days ago
- Business
- IOL News
Scatec wins major battery storage project in South Africa
Norwegian renewable energy company Scatec ASA has been named the preferred bidder for the 123 MW/492 MWh Haru Battery Energy Storage System (BESS) project in South Africa Norwegian renewable energy company Scatec has been named the preferred bidder for the 123 MW/492 MWh Haru Battery Energy Storage System (BESS) project in South Africa by the Department of Mineral Resources and Energy, as part of the third bid window of the country's Battery Energy Storage Independent Power Producer Procurement Programme. Under a 15-year agreement, Scatec will receive payments for providing storage capacity to the National Transmission Company of South Africa (NTCSA), which will use the capacity to stabilise the national grid. The project, with an estimated capital expenditure of R2.2 billion, will be financed through 90% non-recourse project debt and 10% equity from the owners. Scatec's engineering, procurement, and construction (EPC) contracts account for approximately 80% of the total capex. 'This award strengthens our position as a leading renewable energy provider in South Africa,' said Scatec CEO Terje Pilskog. 'Battery storage is critical to the energy transition, and we are committed to driving progress in our core markets.' The project builds on Scatec's experience with hybrid solar and battery storage projects at Kenhardt and the ongoing Mogobe BESS project. 'Dispatchable energy and robust grid infrastructure are vital for South Africa's sustainable energy future,' said Alberto Gambacorta, the general manager and EVP for Sub-Saharan Africa at Scatec. Scatec will hold a 50.01% equity stake in the project, with Stanlib's Greenstreet and Redstreet Funds owning 44.99% and a Community Trust holding 5%. Scatec will also provide EPC, operations and maintenance (O&M), and asset management services. The project, located in the Free State Province, is expected to reach commercial close by the end of Q1 2026. BUSINESS REPORT Visit:
The Citizen
26-05-2025
- Business
- The Citizen
PowerBall Player Wins R68 Million Jackpot
Could you be the millionaire we're waiting for? One lucky player became an instant millionaire on Friday night after winning a whopping R68 million from the PowerBall draw. The lucky player struck gold after matching five numbers and a powerball. The National Lottery operator is yet to release more information on this life-changing win when the winner comes forward. If you placed a bet for the PowerBall draw from Friday, be sure to check your ticket because you might be the winner. Ithuba is also on the search for a PowerBall Plus jackpot winner to won R2.2 million on 12 November 2024. The winning ticket was purchased in Mayfield Square in Johannesburg and has yet to be claimed. It expires on 12 November 2025. In case you missed it, here are Friday's winning numbers: PowerBall: 01, 17, 18, 27, 49. Bonus ball: 15 PowerBall Plus: 14, 17, 33, 43, 46. Bonus ball: 02 ALSO READ: PowerBall and PowerBall Plus results: Friday, 23 May 2025 While great care has been taken to ensure the accuracy of the results mentioned above, The Citizen does not take responsibility for any errors in the results. Players are advised to verify the numbers on the National Lottery website. What happens after winning? Winners receive an SMS from their respective banks with a reference number and further instructions on the documents they should bring when visiting Ithuba. When a player wins less than R250 000, they get their money directly deposited into their bank account if they had used a banking app to play. Winners who win more than R250 000 are referred to the lottery operator, Ithuba, for a payout. Free financial and trauma counselling is given to all winners who win above R50 000, tax-free. Players must be 18 years or older to participate. How to play PowerBall? To play Powerball, a player chooses five numbers between 1 and 50 followed by a PowerBall number between 1 and 20 prior to the draw. The system also provides a quick pick selection method where it randomly chooses all the numbers on your behalf. PowerBall tickets are also available on selected banking apps. Terms and conditions apply. Tickets are available for purchase until 8.30pm on draw days (Tuesday and Friday). Tickets can also be bought on Monday, Wednesday, Thursday, Saturday and Sunday from 6am to 11.30pm. The national lottery also gives you a chance to win money every day from the daily lotto. The draw takes place every evening just after 9.30pm. Tickets for the Daily Lotto can be bought every day until 8.30pm.
IOL News
12-05-2025
- Business
- IOL News
Balwin Properties reports significant uptick in apartment sales as interest rates decline
Balwin Properties' De-Aanzicht Milnerton, Cape Town. The group delivered a strong rebound in sales and financial performance in the second half of its financial year to February 28, 2025. Image: supplied Balwin Properties, a prominent developer known for its environmentally efficient and affordable apartment estates, has announced a remarkable rebound in property sales during the latter half of its financial year. Following the commencement of a new interest rate cutting cycle, which has seen rates reduced by a total of 75 basis points since September 2024, the company reported substantial improvements in trading conditions. In the six-month period leading up to February 28, the company recognised revenue from the sale of 1 109 apartments, a significant increase of 73% compared to just 640 units sold in the first half. Additionally, pre-sales surged, with 814 apartments being contracted for future financial periods, up from 520 the previous year. Group CEO Steve Brookes attributed this increase to heightened buyer interest driven by the easing of interest rates. 'The year under review was a tale of two halves, with a strong recovery in profitability in the second six months of the year, supported by ongoing cost-saving initiatives and a strong performance from the Balwin Annuity,' Brookes commented. Despite this positive trajectory, while the interest rate relief was a welcome development, it fell short of expectations, and further interest rate cuts were anticipated for the new financial year. The company's monthly average gross sales rate surged by about 30% since the start of the interest rate cuts, positioning Balwin to expedite construction activities as market conditions improve. Even amidst a challenging economic landscape, Balwin reported an 8% increase in taxed profit to R234 million, with group revenue standing at R2.2 billion—a 6% decline from the previous year, reflecting ongoing pressures in the residential property market. The anticipation surrounding the Government of National Unity formed in June 2024 was overshadowed by political uncertainty, amplified by global economic volatility. Nevertheless, earnings per share experienced a modest increase, rising to 49.74 cents, while headline earnings per share slipped 4% to 45.95 cents. To adapt to the challenging market conditions, Balwin implemented measures to align construction rates with sales, which included better cost engineering, ongoing marketing, and incentives, as well as strict control over operating costs, which remained steady at R351m. The company's gross margin did improve to 30% from 28%, buoyed by contributions from its annuity businesses. Focusing on regional performance, Gauteng emerged as the largest contributor to revenue with 856 apartments recognised, while the Western Cape demonstrated strong demand, with 801 apartments contributing to the sales figures—an impressive 99% of market offerings in the area were recognised in revenue. Despite a subdued performance in KwaZulu-Natal due to planning delays, management expressed optimism for future improvement as progress is made on these challenges. Balwin's directors expect further interest rate cuts will likely stimulate a gradual recovery in the residential property sector. The company is committed to maintaining operational and development cost containment strategies to bolster profit margins and maximise returns on invested capital. 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 ✕ With a robust pipeline of about 36 000 apartments slated for development over the next 12 years across major metropolitan nodes, Balwin'sdirector said the group is poised to emerge more efficient and focused, optimising operational processes for improved profitability.
The South African
11-05-2025
- Entertainment
- The South African
Jackie Chan leaps back into action after 15 years
Jackie Chan is back, bringing a fresh dose of wisdom to the big screen. After a 15-year break, Chan returns as Mr Han in The Karate Kid: Legends . Since his first film at age eight, Chan has starred in over 150 movies. His biggest hit was the 2010 Karate Kid, which raked in over R2.2 billion worldwide. Now, The Karate Kid: Legends moves the action from China to New York City. This time, Mr Han teams up with Daniel LaRusso (Ralph Macchio) and a new protégé, Li Fong, played by Ben Wang. 'It's been almost 15 years! We both aged 15 years older, that's for sure!' Chan laughs. The film brings together kung fu and karate, blending two martial arts in one epic story, according to Haute Living. 'It's the first time, and I'm glad we had this opportunity to work together and teach this lucky kid both karate and kung fu,' he says. Jackie Chan is full of praise for Wang. 'To me, he's a good boy, a really good boy. He learns stuff fast and is always so humble and dedicated to this role.' The movie builds to a jaw-dropping rooftop showdown that Chan has remained tight-lipped about the details. 'It's the kind you haven't seen in 15 years! I can't say too much!' he teases. Action is at the heart of every Chan film, as he's famously known for doing his own stunts, even if it means broken bones. 'Of course, I always do my own stunts. It's who I am. That's not changing until the day I retire, which is never!' he laughs. But Chan's legacy is more than action, the actor has donated millions to charity, built schools, and adopted real pandas in China. 'I love pandas, just like everyone else in this world. They are lazy but wise. They just eat, sleep, and enjoy life. That's something I think we all need to learn,' he says. After all these years, Jackie Chan is still pushing boundaries – and inspiring fans from Johannesburg to Cape Town. 'As long as I did the best I could and I'm true to myself, that's enough,' he says. And for Chan, that's the real legend. 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.
