Latest news with #R20
IOL News
13 hours ago
- Business
- IOL News
South Africa's illicit trade crisis: Tobacco, alcohol, and fashion industries under siege
Illicit trading has emerged as a staggering threat to various industries in South Africa, with the black market for both cigarettes and alcohol reaching unprecedented levels. Illicit trading has emerged as a staggering threat to various industries in South Africa, with the black market for both cigarettes and alcohol reaching unprecedented levels. Illicit trading has emerged as one of the most pressing issues facing South Africa, pervading various sectors of the economy and costing the nation billions in lost tax revenue. At the forefront of this crisis are illicit cigarettes, now reaching record high levels in terms of market presence. Research conducted by Ipsos reveals a shocking statistic: more than 76.7% of shops across the country now sell cigarettes below the minimum tax threshold applicable on a standard pack of 20. This trend coincides with Finance Minister Enoch Godongwana's aim for the South African Revenue Service (SARS) to collect an additional R20 billion in tax revenue for the financial year, an effort aimed at circumventing new tax measures in the upcoming 2026 budget. Johnny Moloto, Area Head of Corporate & Regulatory Affairs for BAT South Africa, stressed the urgency of the situation. 'With the clock ticking for SARS to collect at least an extra R20bn, these results from Ipsos show the need for immediate steps to plug the leaks in tobacco tax collection,' he emphasised. Moloto further revealed that the illicit cigarette trade costs the country an estimated R28bn annually, equating to R100m lost every working day, surpassing SARS's entire additional collection target. 'Despite increased enforcement activity over the past year, including more raids and product seizures, illicit products remain as available as ever, suggesting that current tactics are failing to address the root causes of tax evasion. Our analysis indicates that the illicit cigarette trade costs South Africa approximately R28bn annually – R100m every working day – representing more revenue than SARS's entire additional collection target. Eliminating this leakage would protect law-abiding taxpayers from bearing additional tax burdens,' said Moloto. While illicit cigarettes have been noted as a growing concern, the Drinks Federation of South Africa (DF-SA) released new research revealing a sharp increase in the illicit alcohol market, which has grown by 55% in volume since 2017. Conducted by Euromonitor International, the research highlights the growing threats illegal alcohol poses to public health and safety, as well as the significant loss of national tax revenue. 'This study is a wake-up call. Communities are being exposed to harmful, unregulated alcohol, and the country is losing billions in revenue. It is urgent that government, industry, and civil society work together to tackle this issue head-on,' warned Dr Shamal Ramesar, Head of Research at DF-SA. Ramesar urged collaboration among government, industry, and civil society to tackle this pressing issue effectively and further called for coordinated action to promote responsible consumption, shut down illegal producers, and raise public awareness regarding the inherent dangers of illicit alcohol. Eustace Mashimbye, CEO of Proudly South African, also highlighted how the prevalence of these illegal practices is crippling the already-stressed local fashion industry. 'For the local fashion industry, illicit trade has domino effects: It leads to job losses in the value chain of the fashion industry, distorts the market by forcing local producers to compete unfairly with illicit traders who incur lower production costs, encourages widespread copyright infringements, deprives the creatives of their hard-earned revenue, compels legitimate entrepreneurs to compete with illegal traders who sell similar but substandard products without complying with safety, health or environment-related requirements, breeds precarious employment where labour regulations are disregarded, deprives the fiscus of much-needed tax revenue, and puts downward pressure on wages and salaries in the fashion industry labour market,' Mashimbye stated. In light of these challenges, industry leaders rallied to march on behalf of the fashion sector, submitting memorandums to the Department of Trade, Industry and Competition (DTIC) and the National Clothing Retail Federation (NCRF). These memorandums were a clarion call for authorities to intensify efforts against counterfeit goods to safeguard jobs and local production. At the Buy Local Summit and Expo, Mashimbye expressed the importance of protecting South Africa's invaluable fashion industry, estimated to be worth over $11bn (R197bn). 'We not only have a moral obligation to protect the sector; it makes economic sense to do so,' he said. In its commitment to combat the increasing threats posed by illicit trade, SARS has reiterated its dedication to revenue collection and facilitating legitimate trade. According to the agency, the illicit economy undermines the rule of law, erodes public trust, and enacts a substantial toll on national security. 'The illicit economy is a global phenomenon that threatens South Africa's society, economy, and national security. Tax evasion, smuggling, illegal transactions, illicit manufacturing, and fraud undermine the rule of law, erode public trust, distort markets, deprive governments of revenue, and enable corruption and organised crime. The pervasiveness of these illicit activities in our country demands that all enforcement agencies work jointly to curb their harmful practices. The illicit economy is complex and requires a whole-of-government response among public entities, the private sector, civil society, and international partners.' SARS revealed it is working with other law enforcement agencies to combat the scourge of the illicit economy. Saturday Star
The South African
21 hours ago
- Sport
- The South African
Orlando Pirates superstar Relebohile Mofokeng set to leave!
Orlando Pirates main man Relebohile Mofokeng looks set to follow in the footsteps of Mohau Nkota and leave the club. Mofokeng has risen to stardom in South Africa after breaking through into the Buccaneers' first team in 2023. Since making his debut for the club, Mofokeng has made 89 appearances for Orlando Pirates. In total, he scored 18 goals while assisting 22 more. READ MORE • R20 million Mamelodi Sundowns star wanted by Siwelele FC! READ MORE • How much Orlando Pirates paid for Oswin Appollis! According to the latest transfer gossip, Relebohile Mofokeng is set to complete a move to the Middle East! Al Ettifaq, the same club that Mohau Nkota has joined, are deep in negotiations with the Orlando Pirates over the signature of their talisman! Reputable local publication Unplayable have claimed that a deal is expected to be reached soon! Mofokeng is valued at a whopping R33 million according to Transfermarkt . In order to land the Bafana Bafana ace, a substantial offer will undoubtedly be required! READ MORE • Orlando Pirates cut ties with fan-favourite worth R14.5 million! What do you think is a fair price for Al Ettifaq to pay for Relebohile Mofokeng? Considering the fact that he's only 20-years-old, surely he'll fetch more than his market value? Let us know by clicking on the comment tab below this article or by emailing info@ or sending a WhatsApp to 060 011 021 1. You can also follow @ TheSAnews on X and The South African on Facebook for the latest news.
The South African
a day ago
- Sport
- The South African
Former Kaizer Chiefs fan-favourite signs for Asian champions
Kaizer Chiefs academy graduate Njabulo Blom has completed a move to a rather surprise club for the upcoming season. The utility midfielder spent last season out on loan at the Glamour Boys from parent club St. Louis City FC. Following his exit from Naturena, Blom has now been unveiled as a new signing at a surprise Asian club! READ MORE • How much Orlando Pirates paid for Oswin Appollis! READ MORE • R20 million Mamelodi Sundowns star wanted by Siwelele FC! Njabulo Blom has completed a move to Vietnamese 1 champions Thep Xanh Nam Dinh FC. 'Njabulo Blom, born on 11/12/1999, is a South African citizen and plays as a midfielder,' the club confirmed on Facebook as per Soccer Laduma . 'He was a familiar face in the American Professional Soccer League , now known as MLS , when he played for St Louis CITY SC. Njabulo Blom was also summoned up and played for the South African National Team.' Njabulo Blom made 19 appearances for Kaizer Chiefs across all competitions last season. The 25-year-old already has 160 professional appearances in both the PSL and MLS. 'After completing his loan spell with Kaizer Chiefs, Njabulo Blom will return to his parent club, St. Louis City SC, in the United States of America,' an official club statement read last month. 'Blom rejoined the Amakhosi at the beginning of September 2024 under an agreement to spend a season at his boyhood Club in the Betway Premiership.' READ MORE • Orlando Pirates cut ties with fan-favourite worth R14.5 million! Is it a step back or a step forward for the Bafana Bafana player? Let us know by clicking on the comment tab below this article or by also emailing info@ or sending a WhatsApp to 060 011 0211. You can also follow @ TheSAnews on X and The South African on Facebook for the latest news.
The South African
a day ago
- Sport
- The South African
Orlando Pirates transfer news: Orbit to sign FOURTH Bucs player
Orlando Pirates and Orbit College are deep in negotiations over another Bucs first team player! The Motsepe Foundation Championship winners are trying to build a competitive squad for their maiden season in the Betway Premiership. Orbit have already signed three Orlando Pirates first team players, and now a fourth one could soon be on his way to the North West. READ MORE • R20 million Mamelodi Sundowns star wanted by Siwelele FC! READ MORE • How much Orlando Pirates paid for Oswin Appollis! Orbit College made a statement of note when they landed Monnapule Saleng for the upcoming on loan. They also welcomed fellow Orlando Pirates players Thuso Moleleki and Yanga Madiba to the club for the 2025/25 campaign. Now, reports suggest that they've identified a Pirates goalkeeper as their latest transfer target! Orbit College are in talks with the Buccaneers over the signature of goalkeeper Ethan Visagie! 'Orlando Pirates are looking at the future with Ethan Visagie to compete for the first-choice goalkeeping position one day,' an insider told Soccer Laduma . 'But now he is behind Sipho Chaine, Siyabonga Dladla and Melusi Buthelezi, so that is why they want him. They want Ethan to grow and gain experience, hence the proposed loan move to Orbit College.' READ MORE • Orlando Pirates cut ties with fan-favourite worth R14.5 million! Where do you see Orbit College finishing on the log standings next season? Considering their new acquisitions, do you think they can finish in the top eight? Let us know by clicking on the comment tab below this article or by emailing info@ or sending a WhatsApp to 060 011 021 1. You can also follow @ TheSAnews on X and The South African on Facebook for the latest news.
The Citizen
a day ago
- Business
- The Citizen
2025 competition to reward SA's top social entrepreneurs
Social entrepreneurs in Gauteng have an exciting opportunity to gain recognition and support for the positive impact they are making in their communities. The Iwisa No.1 Community Champions Competition is back for its third year, celebrating township, rural, and peri-urban small businesses that are tackling some of South Africa's biggest challenges. The 2025 edition of the competition launched online on June 15 during Youth Month, which is fitting, as many inspiring entrants in previous years have been young people leading change in their communities. ALSO READ: Locals invited to enter potjiekos competition fundraiser on March 29 Sibongile Mooko, premier executive, said that addressing issues such as youth unemployment, education inequality, or environmental sustainability, these community heroes are being given a chance to be recognised and rewarded. 'The belief that each of us can do good and bring about change inspired the competition, and that this becomes more powerful when we do it together,' said Mooko. The competition is open to social enterprises operating for more than two years in the Eastern Cape, Free State, Western Cape, and Gauteng. Eligible businesses must address a clear social or environmental need and be financially active. Ten finalists will be selected from each region to attend expert-led pitch workshops before competing in regional finals. Winners could receive funding prizes of R30 000 (first place), R20 000 (second place), and R10 000 (third place) per region. ALSO READ: Applications open for the 2025 Samsung Solve for tomorrow STEM competition Beyond cash prizes, finalists will also benefit from a business bootcamp and three months of dedicated mentorship to help them grow and scale their impact. This year's competition aligns with national development goals and the UN's Sustainable Development Goals (SDGs). It targets SMMEs working in sectors including • Food security and nutrition • Education and skills development • Health and well-being • Clean and affordable energy • Circular economy and recycling • Digital and tech innovation. 'Our theme this year is about building stronger communities by enabling those who serve them. We want to spotlight entrepreneurs working in these critical areas and help them grow,' said Mooko. ALSO READ: Local swimmers need support for competition in Italy Applications close on July 31. They must be submitted online via the Iwisa No.1 website When on the page, click the arrow on the right to find the Community Champions competition details. In a world often filled with challenges, this competition brings a wave of hope as it celebrates the unsung champions of our communities – the entrepreneurs, problem-solvers, and doers. If you or someone you know is making a difference, now is the time to be seen, supported, and celebrated. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
