Latest news with #R2.5m
TimesLIVE
a day ago
- Politics
- TimesLIVE
'Misogyny and against transformation': Nkabane after budget rejection
Higher education minister Nobuhle Nkabane has accused political parties of misogyny and resisting transformation after her department's budget was rejected in the National Council of Provinces on Tuesday. The budget vote was rejected by political parties including the DA and EFF, with some MPs accusing her of failing to lead the department. Nkabane said the rejection would affect the transformation of the post-school education and training sector. 'It's a pity and unfortunate that we are witnessing some MPs not accepting and adopting the budget,' she said. 'Those who reject the budget are rejecting the transformation of the post-school education and training sector. They are not rejecting the budget of Nobuhle Nkabane. This is not the budget of Nobuhle Nkabane. This is the budget of the people of South Africa. 'When you are against transformation it irritates a lot when you see such a young woman leading such a huge ministry in your presence. It's misogyny. I understand it, I know where it's coming from, and worse when it's a black woman.' Nkabane has been embroiled in controversy over the appointment of Sector Education and Training Authority (Seta) board chairpersons. The DA laid criminal charges against her for allegedly 'lying' to parliament about the appointment process. Some MPs and the South African Students Congress have called for her immediate removal. The EFF's Laetitia Arries said Nkabane failed to account for the appointments and address issues faced by students in universities. 'You have failed to lead the nation to the realisation of adequate higher education,' Arries said. 'You have failed to account for appointments that are glaring examples of political patronage, where state institutions intended to empower youth and workers are turning into ANC deployment zones for cadres and family members of the ruling elite.' Despite the criticism, Nkabane emphasised her department's commitment to rooting out corruption, highlighting plans to terminate contracts with four fintech companies and end a lease agreement in the Western Cape, which would save R2.5m. She said the EFF should have supported the budget to help address issues faced by the department. 'The sad part of it is that now they are not supporting the budget. My question, I am asking myself, is how we are going to address those issues that have been raised?'
TimesLIVE
5 days ago
- Business
- TimesLIVE
Orbit in the money after promotion to Premiership
After making history by earning promotion to the Betway Premiership on Wednesday, Orbit College can bet on a better financial state next season. The Rustenburg-based club beat Cape Town City 1-0 in their last PSL promotional playoff clash to raise their points at the top of the table to an unassailable eight. Orbit's playoffs rivals Casric Stars and City, who are both on two points apiece, meet next for the irrelevant last match of the round-robin contest. For Orbit, being in the elite league means the club will receive a monthly grant of R2.5m from the league. The amount is a far cry from the R500,000 the Motsepe Foundation Championship (MFC) clubs get per month. That means Orbit will go from receiving R6m per annum to R30m. Orbit are also guaranteed appearance fees in the Carling Knockout (R250,000) and Nedbank Cup (R250,000) competitions. And depending on how far they go in each competition, they stand to make a lot of money. The first prizes for the two cup competitions are R6,6m and R7m, respectively. Even better, and potentially a marketing hook for sponsorship, Orbit's promotion means they have finally gave North West a club in the Premiership after a seven-year wait. The province is home to valuable minerals, including gold and platinum, and the mining industry is thriving with several companies operating. After a decade in the ABC Motsepe League, the third tier, Orbit only earned promotion to the MFC two seasons ago. The Mswenko Boys finished second behind Durban City in the MCF to qualify for the playoffs, while Durban earned automatic promotion to the Premiership. Captain Atisang Batsi said they knew their time had come to win promotion. "We said at the beginning of the season that this is our time and we made it," Batsi told SuperSport TV after the game at Olympia Park in Rustenburg. "It means a lot to us, when we started the season, it was a little bit bad but when the season continued we became better. We are looking forward to playing in the Betway Premiership next season." With the promotion done, Orbit will start their preparations for the Premiership where they will have to strengthen the team with experienced players.
Yahoo
21-04-2025
- Business
- Yahoo
One Spur Insider Raised Stake By 28% In Previous Year
Viewing insider transactions for Spur Corporation Ltd's (JSE:SUR ) over the last year, we see that insiders were net buyers. This means that a larger number of shares were purchased by insiders in relation to shares sold. While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. The Group COO & Executive Director Kevin Robertson made the biggest insider purchase in the last 12 months. That single transaction was for R2.5m worth of shares at a price of R33.07 each. So it's clear an insider wanted to buy, even at a higher price than the current share price (being R31.11). While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. In our view, the price an insider pays for shares is very important. It is encouraging to see an insider paid above the current price for shares, as it suggests they saw value, even at higher levels. The only individual insider to buy over the last year was Kevin Robertson. We note that Kevin Robertson was both the biggest buyer and the biggest seller. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below! View our latest analysis for Spur Spur is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying. There has been significantly more insider buying, than selling, at Spur, over the last three months. Group COO & Executive Director Kevin Robertson spent R2.5m on stock. But we did see Group COO & Executive Director Kevin Robertson sell shares worth R421k. We think insiders may be optimistic about the future, since insiders have been net buyers of shares. I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Our data isn't picking up on much insider ownership at Spur, though insiders do hold about R11m worth of shares. This level of insider ownership is notably low, and not very encouraging. It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. When combined with notable insider ownership, these factors suggest Spur insiders are well aligned, and that they may think the share price is too low. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. Every company has risks, and we've spotted 1 warning sign for Spur you should know about. Of course Spur may not be the best stock to buy. So you may wish to see this free collection of high quality companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
