Latest news with #R3.6
The Citizen
2 days ago
- Business
- The Citizen
‘Looting using matric papers': Why did NW printing job price jump by around R100m?
The job has reportedly never cost more than R30m, but is now apparently being done for R128m a year, for five years. There are concerns of possible 'looting' and corruption within the North West education department after it signed a new matric paper printing job that costs four times what it did last year. The department reportedly spent just over R28 million last year to print its question papers, but has now appointed a new provider for the services, Lebone Altron DSV Consortium. That provider, according to a City Press insider, is charging R128 million a year for the service. The department has disputed the amount, but revealed the actual amount is over R100 million. It justified the cost by saying it included not only printing but also other logistics like storage and distribution. Still, insiders insist that these other services were included in the previous deal at a fraction of the price. They smell a rat and claim there is 'a lot of looting using the printing of matric question papers'. 'The material used for printing the question papers is normal, which is found in any printing company. We do not use any special materials, but the money [the department is going to pay] is too much,' said a source. Why don't they use government printers? According to the national education department, eight of the nine provinces, including the North West, have stopped using the Government's Printing Works (GPW) to print their matric papers amid security concerns. 'The GPW in its current structure lacks the capacity to print secure question papers for all nine provincial education departments. This capacity can be extended with time, but the reality is that it is also a major risk for all national question papers to be printed at one venue in the country,' the department said previously. 'Another important factor is that provincial education departments (PED) prefer to have in-house printing facilities, which allows them to manage the process more closely. Hence, printing in Pretoria at GPW is not the most convenient arrangement for most PEDs.' And while leaks have reportedly reduced, the cost of printing, now in private hands, has risen. ALSO READ: Hawks make major breakthrough in matric results 'breach' – One detained Last year, it was reported that the cost more than tripled from less than R1 billion to R3.6 billion. The national education department later clarified that this R3.6 billion included setting the papers, moderation, printing, transport, security, marking and allowances for markers, maintenance of systems, and printing and distribution of statement of results. 'The estimated cost for just the printing and packing of question papers for all candidates writing the October/November examination is R220 million, and this is a fraction of the R3.6 billion quoted,' the department explained. NOW READ: WATCH: Matric results for just R100? Outcry over 'leak' of marks
The South African
4 days ago
- Business
- The South African
Hailey Bieber rockets to billionaire status with Rhode
Hailey Bieber has just shaken up the beauty world—and her bank account in a move that's sending shockwaves. Bieber's skincare brand, Rhode, has been snapped up by cosmetics powerhouse E.l.f. Beauty for a jaw-dropping R18 billion. Hailey Bieber, only three years into her beauty business journey, isn't stepping aside. Instead, she's stepping up. 'From day one, my vision for Rhode has been to make essential skin care and hybrid makeup you can use every day,' Bieber declared, according to Harper's Bazaar . 'Just three years into this journey, our partnership with E.l.f. Beauty marks an incredible opportunity to elevate. We can accelerate our ability to reach more of our community with even more innovative products and widen our distribution globally'. E.l.f. Beauty will pay R14.4 billion at closing, a mix of cash and stock. There's also a sweetener: an extra R3.6 billion could be paid out if Rhode continues to grow over the next three years. Rhode's meteoric rise is nothing short of spectacular. The brand, named after Hailey's middle name, launched in 2022. It quickly became a social media sensation, especially on TikTok, with its peptide lip treatments and 'glazing' products. In the last year alone, Rhode raked in over R3.8 billion in net sales. Hailey Bieber isn't going anywhere, as she'll stay on as Chief Creative Officer and Head of Innovation, guiding Rhode's next chapter. Her co-founders, Michael D. Ratner and Lauren Ratner, will also keep their hands on the wheel. 'We can't wait to bring Rhode to more faces, places, and spaces,' Bieber said, hinting at global ambitions that could soon see Rhode's products on South African shelves. E.l.f. Beauty's CEO, Tarang Amin, is just as excited as Rhode further diversify their portfolio with a fast-growing brand that makes the best of prestige accessible. We are excited by Rhode's ability to break beauty barriers, fully aligning with E.l.f. Beauty's vision is to create a different kind of company. Rhode is a beautiful brand that we believe is ready for rocketship growth,' he said. This deal is a sign of the growing power of social media-driven brands and the global appetite for innovative skincare. 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.
IOL News
7 days ago
- Business
- IOL News
Is eThekwini Municipality's R3. 6 million fan park expenditure justified?
Over 10,000 people gathered at the Durban beachfront fan park to watch the Nedbank Cup final on Saturday. eThekwini Municipality's R3.6 million fan parks draw criticism from ActionSA. The eThekwini Municipality splurged big on the Nedbank Cup Final on May 10 with two free fan parks which cost R3,6 million. Albert Park and the Durban beachfront were chosen as sites, and the municipality said these were chosen due to their proximity to the Moses Mabhida Stadium where the sold-out football match took place. According to the municipality, the procurement process for the company that provided the service involved the Section 36 process. Section 36 deviates from regular procurement techniques by allowing the city to acquire goods or services in an emergency or when competitive procurement rules are unrealistic or impossible to follow. The approach allows it to pick a company without pursuing more bidders.
eNCA
21-05-2025
- Sport
- eNCA
No incentives for Amajita but SAFA pledges support for World Cup
JOHANNESBURG - There are no incentives for Amajita after their U20 Afcon triumph in Egypt. The SA U20 side won just over R3.6 million after lifting the title against Morocco. Safa president Danny Jordaan says with the upcoming U20 World Cup in Chile, the federation will give full support to coach Raymond Mdaka and his charges. He downplayed the organisation's financial health, saying the organisation has never failed to cover the basic costs for national teams.
IOL News
24-04-2025
- Business
- IOL News
Transforming the Zulu Royal House Trust: Lessons from the Royal Bafokeng Nation
Pictured is Zulu King Misuzulu kaZwelithini. The KwaZulu-Natal Zulu Royal House Trust (ZRHT) will receive R86 million in the next financial year (FY) 2025 and 2026 from the Office of the Premier (OTP). Image: File Discussions are underway to model the KwaZulu-Natal Zulu Royal House Trust (ZRHT) to a self-sustaining revenue generator similar to the Royal Bafokeng Nation (RBN) in the North West Province. This was mentioned when KZN Premier Thamsanqa Ntuli announced that the ZRHT will receive R86 million in the financial year (FY) 2025 and 2026 from the Office of the Premier (OTP) budget of R817 million. The RBN is a Setswana-speaking traditional community and ethnic homeland in South Africa. Tim Brauteseth, MPL – DA KZN spokesperson on Finance and the Chairperson of the Standing Committee on Public Accounts (SCOPA) said that money will ensure provision of administration, maintenance, and management of the assets of the ZRHT, including the Royal palaces and farms. Speaking at the KZN Legislature on Thursday, Brauteseth said the committee notes with grave concern the continuous failure by the ZRHT to implement fundraising. Brauteseth said the Trust was established mainly for this purpose. Brauteseth said all political parties in the Portfolio Committee speak in unison that vigorous oversight needs to be performed to ensure this happens. The committee requested timelines for this, and the appointment of a new Board of Trustees after operating for almost a year without a Board. 'A sum of R3.6 million was allocated to the Trust in 2018 with the sole purpose of investigating ways to make the Royal Household self-sustaining and indeed a source of its own revenue for the province. This investment has remained largely unrealised. Year after year this issue is raised and year after year excuses are made and little is done,' Brauteseth said. Brauteseth said the right team has not been assembled for this task. Brauteseth said this has to be an area of intense focus in the next year and the portfolio committee must be relentless in this pursuit. 'There are numerous monarchies and communities across the world who have decided to utilise their assets to ensure self-sustainability and assure their long-term future,' Brauteseth said. Brauteseth told the legislature that the RBN is a success story of a traditionally governed community that strategically leveraged its wealth from platinum mining to achieve sustainable social development and build a strong investment portfolio. 'Situated on one of the world's largest platinum reserves, the RBN transformed mining royalties into a diversified investment vehicle, Royal Bafokeng Holdings which funds social programs and community projects. This community-based investment approach has enabled them to improve living conditions, support education and healthcare, and build a strong institutional framework,' Brauteseth said. Brauteseth said RBN made strategic land acquisitions including through missionary intermediaries, to secure their resource rights and received significant royalties from mining companies, which are then invested through RBH. Brauteseth said that RBH has invested in community projects like the Royal Bafokeng Stadium, the Kgosi Leruo High-Performance Centre, and the Royal Bafokeng Institute. Brauteseth said the Royal Household must realise the potential of its assets for the benefit of not only the Monarchy but all of the citizens of KZN. Ntuli said they were in the process of reviewing the ZRHT act and appointing a new board. 'We will be doing a benchmarking visit to the Royal Bafokeng Nation once the board has been constituted. We have used it as one that we need to match with what is being practiced in our province. The Trust land can unearth equity and development returns for the communities that reside on Ingonyama Trust Land,' Ntuli said.
