Latest news with #R356
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First Post
07-08-2025
- Business
- First Post
In South Africa, women are the real power in real estate, leaving men behind
The housing market in South Africa is shifting and it is because of women. A growing number of South African women are independently financing their homes. Standard Bank's Home Loans data indicates that women have consistently comprised 70 per cent of all home loan clients over the past decade, including both joint and sole applicants. Notably, nearly 40 per cent of all main applicants for home loans are now women, up from 37.9 per cent in 2015. STORY CONTINUES BELOW THIS AD This growing trend highlights women's increasing confidence and empowerment in achieving their homeownership goals, according to IOL. Earning more, investing more In the past two years, 66 per cent of female main applicants have purchased homes without a co-applicant. This demonstrates a significant move towards independent homeownership among women. There has been a 74.3 per cent growth in the average gross income for female main applications — growing from R38,000 in 2015 to R67,000 in 2025. This has also coincided with a 48.2 per cent increase in the average price of properties purchased by female main applicants from R800,000 in 2015 to R1.3 million in 2025. Additionally, the majority of women entering the property market are young with 74% of female main applicants being under the age of 45. This is also an indication that younger women are also increasingly investing in long-term assets. In Standard Bank's Vehicle and Asset Finance (VAF) division, women's share of the client base grew from 38.5 per cent in June 2015 to 43.9 per cent in June 2025. Women aged 31 to 45 accounted for nearly half of female sales in June 2025. Moreover, this increased spending is not just seen in the housing market. The average car purchase price among women in 2025 was R334,914, which is 6.5 per cent lower than the R356,972 average spent by men. STORY CONTINUES BELOW THIS AD Financial tools fuel access Standard Bank initiatives are also playing a role in this trend, supporting and encouraging asset ownership by financing upfront costs for first-time homebuyers and allowing clients to add and re-spread balloon payments if needed. Short-term insurance data reflects this shift, with women filing 51.1 per cent of claims, surpassing men in certain policyholder demographics. Women also dominate claims submissions among those who are divorced, accounting for 64.4 per cent of claims, while men represent just 35.6 per cent. Hayley Ivins-Downes, managing executive of Real Estate at Lightstone, noted the encouraging transformation in the real estate sector. The proportion of homes owned by women as sole buyers has increased from 30 per cent in 2014 to 39 per cent in 2025, while mixed couple ownership declined from 39 per cent to 30 per cent. Properties owned solely by women or jointly by women and men now account for 69 per cent of all ownership, while properties owned solely by men remain static at 31 per cent. STORY CONTINUES BELOW THIS AD This trend underscores a significant shift in consumer behaviour, challenging traditional stereotypes about financial decision-making in households, and highlighting the increasing role of women in South Africa's economy.
IOL News
04-07-2025
- Business
- IOL News
SAFA KZN President defends sponsorship secrecy amid financial scrutiny
EVEN with all the debacles at Safa, Danny Jordaan's position remains safe with regions like Safa KZN standing by the current leadership. | Itumeleng English / Independent Newspapers Image: Itumeleng English / Independent Newspapers SAFA KZN President Mazwi Mkhize has defended Danny Jordaan's decision not to disclose sponsorship figures, saying revealing them would only expose how little South African football is actually receiving. The comments come a month after SAFA's appearance before Parliament, where the governing body faced tough questions about its finances and overall administration. Jordaan also hinted he may run for a fourth term in 2026. The most heated moment during the session came when Rise Mzansi MP Makashule Gana demanded SAFA reveal how much it receives from headline sponsors Hollywoodbets and 10Bet — both betting companies with a visible footprint in local football. SAFA Chief Financial Officer Gronie Hluyo responded by saying the association could not reveal the details due to confidentiality clauses in the contracts it signed with the sponsors. He maintained that disclosing the amounts would violate legal agreements. 'In terms of our sponsorship contracts, we've got confidentiality clauses. We'll be in breach of those contracts if we disclose sponsorship agreements and their value,' Hluyo told the committee. Several MPs, however, were unimpressed by the explanation. They said SAFA's lack of transparency made it difficult for them to recommend that the Ministry of Sports allocate further funding to the organisation. The association's latest financial report showed only R356 million in sponsorship revenue. Broadcast income from the SABC, which is itself under financial strain, remains minimal. Now Mkhize has come out in support of Jordaan and Hluyo, arguing that hiding the figures is actually in football's best interest. Speaking to Ukhozi FM, Mkhize said the numbers would shock the public and attract criticism that could damage the sport. 'I think it was the right decision not to reveal the amounts sponsored to the association because it's embarrassing if we're to hear the amount football gets sponsored,' said Mkhize. 'If people and the media knew the figures, there would be no questions of where the money is going — because it is so little.' 'We've asked these questions before, but we wanted to hide under tables when we heard the numbers,' he added.
