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The Citizen
2 days ago
- Business
- The Citizen
State of the City: Bold promises for Rand West
The recent State of the City Address saw Executive Mayor William Matsheke address the various service delivery issues and pledge realistic solutions to curb financial distress. • Also read: Action promised on poor services On June 6, members of parliament and various stakeholders attended the State of the City Address. The event was held at the Toekomsrus Community Hall, however, shortly after starting his speech, Matsheke announced that the hall would be renamed to Donavan Cloete Community Hall. As Matsheke explained, this is a way of honouring the late ward councillor for his patriotic work within the community. He also expressed the municipality's milestone for electing its first deputy mayor, Nontombi Molatlhegi. During the IDP meetings that were held in each ward recently, residents emphasised the lack of service delivery in various departments. These issues were categorised as waste management and sanitation, access to clean water, electricity supply, and employment. Matsheke addressed these issues accordingly and claimed the municipality is implementing an aggressive strategy with the following areas in focus: • Prioritising budget allocations • Leveraging intergovernmental relations to renew infrastructure • Tackling international relations for foreign investment to ensure economic growth and create employment opportunities Matsheke noted the municipality has achieved various accomplishments this year. This includes a fully balanced annual midterm revenue (Annual Budget). He stated that despite financial constraints, the municipality is proud of the debt relief achievement in October 2024 and became the first municipality in the country to receive a one-third debt write-off from Eskom. Our finance department continues to show growth and stability,' he said, as it allegedly reflected in their 2025/ 26 Medium-Term Revenue and Expenditure Framework. Their projected total operating revenue for the 2025/ 26 financial year is R3.4b, a 10% increase from the previous financial year. Their projected operating expenditure is also R3.4b, reflecting a 10% year-on-year increase. He added that the projected annual budget has a surplus of R32m and the capital budget stands at R243m. To further strengthen the finances, the municipality will: • Prioritise long-term debt management strategies and enhance cash flow management • Continue to apply for additional grant funding from the Provincial and National Governments to support critical service delivery • Strengthen the municipal billing systems and improve debt recovery through credit control measures to boost revenue collection • Expand the taxpayer base through spatial development and economic activity Matsheke emphasised the good work executed by Public Safety officers. The Department of Public Safety successfully conducted 14 by-law enforcement operations, which led to the removal of expired goods. A total of 158 Warrant Blitz programmes were carried out along major routes such as the R28 and N12, resulting in traffic fines for those in violation of the law. Furthermore, he expressed the ongoing construction of a new water bulk in Randfontein and Westonaria. Therefore, the Hillshaven Outfall sewer will be upgraded, the sewer network in Mohlakeng will be rehabilitated and many other projects are still being planned to ensure the renewal of infrastructure. 'Our teams have since declared a resolute 'War on Potholes' with a firm goal to become a Zero Pothole City. We successfully resurfaced a 1.5km stretch of the R28 in the Randfontein CBD. We are pleased to announce the completion of the long-awaited linking road between Old Mohlakeng and Mohlakeng Ex 11. We have submitted six priority roads for maintenance to the Gauteng Department of Roads and Transport,' Matsheke expressed. In terms of electricity service delivery, the municipality will install 35 solar high-mast lights across all 35 wards and a new electrical substation has been constructed in Dan Tloome, and the Mohlakeng Ext 11 substation has been upgraded to accommodate increased demand. To help combat waste management issues, the municipality will distribute 240-litre wheelie bins to households and skip bins to key areas, construct waste transfer stations and maintain cemeteries. He spoke about the six mega projects, namely Afri Village, Montrose, Droogeheuwel, Dan Tloome, Western Mega and Westonaria Borwa. He claimed the province is working on a plan to resuscitate the Montrose Mega Project and they are further addressing the housing defects at Afri-Village. 'This moment calls not for division, but for co-operation, not for hesitation, but for resolve. In the spirit of partnership, let us renew our commitment to building a city that works for all its people – a city where every citizen has the opportunity to live with dignity, hope, and purpose,' he said. He also mentioned the municipality adopted the slogan LeRonaReBatho to signify the municipality's pledge to invest in the people and grow an inclusive economy. He added the phrase is a demand to stand on equal footing with the municipality's counterparts in terms of economic development, infrastructure investment and quality of life. According to Matsheke, locally, the slogan means: • Residents in Bekkersdal deserve to live in an environment which is not overrun by sewage and a lack of infrastructure • Mohlakeng residents deserve to travel on pothole-free and safe roads • The community of Toekomsrus deserves to live in an environment that is free from crime and gangsterism The stakeholders present at The State of the City included the Executive Mayor of the West Rand District Municipality, Alderman Dennis Thabe, Mayor of Mogale City, Lucky Sele, Mayor of Merafong City, Nozuko Best and residents of the Rand West. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
Yahoo
18-03-2025
- Business
- Yahoo
Bullish Pick n Pay Stores Insiders Loaded Up On R31.6m Of Stock
Over the last year, a good number of insiders have significantly increased their holdings in Pick n Pay Stores Limited (JSE:PIK). This is encouraging because it indicates that insiders are more optimistic about the company's prospects. Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing. See our latest analysis for Pick n Pay Stores Over the last year, we can see that the biggest insider sale was by the Non-Executive Director, Jonathan Ackerman, for R21m worth of shares, at about R22.51 per share. That means that an insider was selling shares at slightly below the current price (R27.89). As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation. Please do note, however, that sellers may have a variety of reasons for selling, so we don't know for sure what they think of the stock price. This single sale was 92% of Jonathan Ackerman's stake. In the last twelve months insiders purchased 1.98m shares for R32m. On the other hand they divested 1.27m shares, for R29m. Overall, Pick n Pay Stores insiders were net buyers during the last year. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date! Pick n Pay Stores is not the only stock that insiders are buying. For those who like to find small cap companies at attractive valuations, this free list of growing companies with recent insider purchasing, could be just the ticket. 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. We usually like to see fairly high levels of insider ownership. Insiders own 0.7% of Pick n Pay Stores shares, worth about R149m, according to our data. Overall, this level of ownership isn't that impressive, but it's certainly better than nothing! The fact that there have been no Pick n Pay Stores insider transactions recently certainly doesn't bother us. However, our analysis of transactions over the last year is heartening. Judging from their transactions, and high insider ownership, Pick n Pay Stores insiders feel good about the company's future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. For example - Pick n Pay Stores has 2 warning signs we think you should be aware of. But note: Pick n Pay Stores may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt. 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.
