Latest news with #R39m
TimesLIVE
10-07-2025
- Business
- TimesLIVE
Ekurhuleni municipal building's R46m budget skyrockets beyond R300m
After eight years, five contractors and more than R300m paid to the City of Ekurhuleni to renovate a municipal building, the structure in Germiston remains unfinished. The project launched in 2017 with a completion date set for 2021 still needs an additional R39m to complete. The plan was to ease severe office space shortages for the municipality but the project has turned into a drawn-out financial nightmare. When Sowetan visited the SAAME building this week, there was no contractor on site. Rubble surrounded the 10-storey structure, unused building materials including cement lay scattered around and there was no sign of any ongoing work. The building remains barricaded with only security guards stationed at the premises. A 71-page forensic report tabled in council in March 2025 outlined a damning paper trail of irregularities, inflated prices for material which cost the city more than R136m and defective workmanship for which the municipality had to fork out R4.8m. The council also lost R70m to unauthorised payments to some of the contractors. The total financial value of these irregularities amounted to R272m. The investigation into the refurbishment of the building was requested by the city manager after noticing 'potential red flags and substandard service from contractors'. According to the report, the Development Bank of Southern Africa (DBSA) was hired to manage the project and was paid more than R8.1m. Themane Management Consultants (TMC) was paid more than R163m, while Anita Building Construction, which later renamed itself FM Infrastructure, was paid R94.1m.
IOL News
24-06-2025
- Business
- IOL News
Lotto winner shares her life-changing experience
The woman will receive just over R39 million. A SELF-EMPLOYED woman from Johannesburg has claimed her share of a R78 million Lotto jackpot, expressing her shock and plans to invest in her family's future. The woman was one of the two winners, and will receive more than R39m from draw number 2551. Her winning ticket was purchased at a day and night superstore in Johannesburg with a R30 wager using the Quick Pick selection method. The self-employed winner is a regular National Lottery player, often using either the quick pick or manual number selections. This time, her quick pick selection proved to be the winning formula, landing her a life-changing win. "I was in shock and complete disbelief when I realised I had won," she said. "I couldn't wait to share the news with my husband. It's a moment that will stay with us forever." With her winnings, she plans to secure a better future for her family. Her priorities include purchasing a home and a car, as well as investing in her business as a self-employed mother. "I'm excited to expand my business and purchase an industrial machine that will really elevate my business. And, of course, I plan to continue to Phanda, Pusha, Play!" Charmaine Mabuza, the CEO of Ituba, the operator of the National Lottery, said: "We're thrilled to see this self-employed South African woman's business ambitions take flight thanks to her remarkable win. We wish her continued success in all her endeavors." Mabuza also extended an important reminder to the second winner, saying: "We urge the remaining winner to come forward and claim their share of this remarkable Lotto jackpot." THE POST
The Citizen
20-06-2025
- Politics
- The Citizen
Nkomazi Local Municipality CFO suspended
The CFO of the Nkomazi Local Municipality, Steven Thobela, has been put on suspension pending an investigation into his alleged financial misconduct. The municipality suspended Thobela with effect from last week Friday, June 13, following a council resolution that was taken at the KaMdladla Community Hall. 'The suspension stems from several allegations of financial misconduct against the CFO. The suspension will allow proper investigation to be undertaken and also allow the official to clear his name if the allegations are not true,' said the municipality's spokesperson, Mbuso Malale. Sipho Mathaba has been appointed as an acting CFO pending the finalisation of the investigations against Thobela. Malale refused to elaborate on the merits of the investigations saying it was sub-judice. Thobela's suspension comes just a month after the municipal manager (MM) Xolani Mabila resigned without giving reasons. ALSO READ: Nkomazi court sentences rapist to 12 years in jail According to Malale, the reasons for Mabila's resignation remained close to his own chest, but unconfirmed reports suggested it was related to alleged corruption within the municipality The suspension of the CFO and the resignation of the MM come in the midst of serious corruption allegations by the DA against the municipality. The DA councillor in the Nkomazi Local Municipality, Nhlonipho Dlamini, said the party urged the provincial Department of Co-operative Governance Human Settlements and Traditional Affairs (Coghsta) to intervene in the alleged corruption within the municipality. The DA in Nkomazi will write to Coghsta to investigate municipal officials implicated in the delay of upgrading the Naas Water Treatment Works project. The project which aimed to alleviate water challenges for residents around Naas and neighbouring towns was initiated in September 2020. However, the project has cost the municipality over R39m to date and has been delayed by more than two years,' said Dlamini in a statement. 'It is understood that the project was supposed to be completed in different phases. However, according to the Auditor-General's 2023/24 Management Report, the municipality has poorly managed this project. These are some of the alarming findings that the AG flagged,' added Dlamini. 'These items include mechanical and electrical equipment to the value of R2m. The municipality stored some of the equipment to the value of R7m off-site while there is no written agreement with suppliers regarding warranty and insurance,' said Dlamini. ALSO READ: City of Mbombela sounds alarm on tender scam According to him, at some point, the contractor had halted the project due to cash flow problems and that the municipality had failed to impose penalties against the contractor. 'The municipality paid for equipment before it was procured by the contractor from the supplier (up to 15 months in advance). It was also revealed that at some point the municipality failed to efficiently dispatch water tankers to communities affected by the upgrading of the Naas water treatment works project,' Dlamini said. 'Coghsta must intervene and regulate the implementation of infrastructure projects. It cannot be business as usual while money meant for service delivery is misused,' added Dlamini At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading! Stay in the know. Download the Caxton Local News Network App Stay in the know. Download the Caxton Local News Network App here
