Latest news with #R4
The Citizen
3 days ago
- The Citizen
Cable theft in the east costs metro over R4m
Cable theft in the east costs metro over R4m Cable theft and electricity losses are spiralling out of control in the suburbs east of Pretoria, costing the metro millions. The city spent nearly R4.9-million on repairs and maintenance in the past financial year due to cable and electricity theft, a heavy financial toll to its already strained budget. These incidents have led to frequent power outages, disrupting daily life and business operations. Residents also voiced concerns over the city's response, adding, 'We are paying rates and taxes, yet it feels like no one is protecting the infrastructure. We need stronger action and quicker response times.' According to city spokesperson Lindela Mashigo, the direct repair costs amounted to R4 889 985,70, not including additional losses due to service disruptions and secondary infrastructure damage. 'These ongoing incidents not only cost the city millions, but also jeopardise essential services and public safety,' said Mashigo. 'The damage goes beyond the cables themselves – entire communities are affected when the power goes out.' Mashigo said cable theft and vandalism in the east were the worst in Erasmuskloof, Armscor, Rietvlei Nature Reserve, Rietvlei Water Works, Woodlands Mall, Woodlands Lifestyle Estate, Faerie Glen (Koedoeberg), Mooikloof, Moreleta Park and surrounding suburbs. He said the Tshwane Metro Police Department (TMPD) and private security companies were surveilling the hotspots, conducting regular patrols in identified high-risk zones. Mashigo confirmed that supply chain management is still processing the tender for enhanced infrastructure security. 'In the interim, the TMPD is working closely with SAPS and private security partners to secure vulnerable infrastructure.' He said cable theft and electricity infrastructure vandalism reduce the reliability and longevity of the electricity infrastructure. MMC for Finance Eugene Modise said the metro has allocated more than R565-million to the installation of CCTV cameras, the recruitment of 200 more metro police officers from January, and the deployment of security personnel to protect its assets, including electricity infrastructure. 'Tshwane is woefully under-protected and we are pursuing a consolidated asset protection strategy that includes both physical security and advanced technological solutions,' said Modise. He added that the metro plans to incorporate modern technology, such as motion detectors and smart surveillance tools, to support and strengthen the efforts of ground security teams. ALSO READ: Noweto stations indicate an increase in contact crimes Do you have more information about the story? Please send us an email to bennittb@ or phone us on 083 625 4114. For free breaking and community news, visit Rekord's websites: Rekord East For more news and interesting articles, like Rekord on Facebook, follow us on Twitter or Instagram or TikTok. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The South African
4 days ago
- Sport
- The South African
Kaizer Chiefs (EXITS): Over R10-million worth of attackers
Kaizer Chiefs are set to offload a plethora of talent across every position. A total of NINE Kaizer Chiefs players are facing likely exits. So, a couple of attackers are linked with probably departures. Chiefs striker, Ranga Chivaviro is set to leave the Soweto giants at the end of the season. The former Marumo Gallants striker has struggled to impress Nasreddine Nabi and Amakhosi management. Meanwhile, he is not in Nabi's future plans. So, it is vital for him to find a new club in order to play more frequently. Interestingly, he is currently valued at over R4 million, according to Transfermarkt. Tashreeq Morris is the latest Chiefs attacker facing a likely departure. According to SNL, the former SuperSport Striker is set to be loaned out at the end of the season. He has failed to impress Amakhosi management since joining Chiefs at the start of the season. Morris registered a lowly two goals in 20 appearances for Amakhosi accross all competitions. As a striker, this is simply not up to standard. Therefore, over R10 million worth Chiefs players face likely exits. Meanwhile, Chiefs have identified this Bafana Bafana attacker as one of their potential replacements and main transfer targets. Let us know by leaving a comment below, or send a WhatsApp to 060 011 0211 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
IOL News
4 days ago
- Business
- IOL News
Pray for entrepreneurs: the devil is in the details
Finance Minister Enoch Godongwana's Budget 3.0 may have spared us a VAT hike curse, but he unleashed a slow poison in the form of a 4% inflation-linked increase in the fuel levy, the writer says. Image: Picture: IOL Finance Minister Enoch Godongwana's Budget 3.0 may have spared us a VAT hike curse. Still, he did unleash a slow poison in the form of a 4% inflation-linked increase in the fuel levy, adding 16 cents per litre on petrol and 15 cents on diesel, effective from 4 June 2025. Small businesses that dodged the blue 'VAT devil' now face a red 'fuel-levy demon' pushing up transport and input costs, squeezing already razor-thin margins. Between a VAT hike that would have been a broad-based bite or a fuel levy that's a sneaky surcharge on every wheel that turns, entrepreneurs must decide which monster stings less—and learn to sidestep whichever serpent gets under their bonnets. The last time South Africans danced to 'the devil made me do it' was during the 2021 budget speech, cooked by the late Finance Minister, Tito Mboweni. On that fateful day, fuel levies were increased by 27 cents per litre- comprising 15 cents for the general fuel levy, 11 cents for the Road Accident Fund levy, and 1 cent for the carbon fuel levy. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading I won't bore you with the political mixed reactions of that time, which amounted to nothing more than hot air- without even a hint of Nando's aroma. Even the term 'small business' appeared only once in a 23-page budget speech document, where it was noted that the Department of Small Business Development has allocated R4 billion over the medium term to township and rural enterprise development, including blended finance initiatives. Only the devil knows who bewitched South African small businesses to remain an invisible, tiny dot -in the corridors of power. Once again, if we take a step back to the 2020 budget speech crafted by the late Minister Tito Mboweni, the ghost of the fuel levy appeared mysteriously much like his famously unusual 'tin fish' cooking times. (R.I.P. Chef Tito, we miss you). In that 2020 budget speech, the fuel levy increased by 25 cents per litre, with 16 cents going to the general fuel levy and 9 cents to the Road Accident Fund levy. I'm not against the experts' sentiment that the scope of fuel primarily relates to transport-related costs, while VAT is broad-based, covering all goods and services. However, the Finance Ministers' budgets from 2020, 2021, and now in 2025 have been 'hacking' small business pockets with sneaky fuel levies. South Africa's small-business battleground is quietly becoming a tax buffet. For SMMEs that earn a living out of an already slim profit margin, these charges are like tiny termites taking a bite from every rand of hard-won revenue. What looks like a humble R0.16/L extra at the pump is a profit drain for township SMMEs. Every extra penny on fuel will be etched in every invoice that lands in the mailboxes of small businesses. Logistics companies, where fuel accounts for 40% of costs, could see operating expenses rise, further eroding their razor-thin margins. Retailers and service providers who depend on delivery services now face a choice: absorb the cost or pass it on to customers, risking churn in a price-sensitive market. Taxi commuters will also feel the pinch, as it is one of the few industries where fare discounts offer a rare sanctuary. The budget speech resembles a spiritual brawl in Bushiri's church arena, where the worshipers spared from the curse are those who hope and learn to pray, 'go deeper Papa,' because the devil is in the details of every budget tweak. To survive, savvy small business owners must incorporate these extra levies into their pricing, tighten logistics, embrace technology, and get creative on how to manage the levy vampire—at least until the next budget brawl. Bongani Ntombela is an executive: programmes at 22 On Sloane. Bongani Ntombela is the Programmes Director at 22 On Sloane, Africa's Largest Entrepreneurship Campus. Image: Supplied BUSINESS REPORT Visit:
IOL News
5 days ago
- Business
- IOL News
Datatec increases final dividend after strong annual financial performance
Datatec's chief executive Jens Montanana says increasing IT complexity driven by AI and the big rise in interconnected digital communities is driving infrastructure demand in areas like networking and cyber security, where the group has "deep domain knowledge and many years of experience". Image: supplied Datatec, the international information and communications technology (ICT) group, lifted its final dividend to 200 cents for the year ended February 28 versus 130 cents at the same time last year after solid profit improvements in its biggest subsidiaries. The dividend policy was being changed to a more shareholder-accommodative two times dividend cover ratio, versus three times cover previously, due to a management incentive plan in some of the divisions that has resulted in upstreaming of cash to the parent company in the form of returns on fixed return equity instruments, resulting in more cash at the parent company. "I am pleased to report a very strong operating and financial performance across all regions and metrics for the group," chief executive Jens Montanana said in the results. He said the improving profitability and cash generation of the group's divisions enabled them to increase their dividend payout policy to 50% of underlying earnings per share. Earnings before interest, tax, depreciation, and amortisation (Ebitda) increased 24.6% to $221.3 million (R4 billion) from $177.6m. Revenue fell 8.8% to $3.99bn. Headline earnings per share increased 79.6% to 25.5 US cents, from 14.2 US cents. Net debt fell to $62.1m from $123.1m previously. Montanana said increasing IT complexity driven by AI and the big rise in interconnected digital communities was driving infrastructure demand in areas like networking and cyber security, where the group has "deep domain knowledge and many years of experience." Revenue declined mainly due to a mix change and more software and services being accounted for in net revenue. Gross profit increased 5.6% to $910.3m, largely due to changes in the revenue mix, contributing to a big gross profit increase in Westcon International and Logicalis International. He said their strategy was to improve shareholder returns over the medium term through a combination of corporate and business development actions, to enhance the competitiveness and profitability of the subsidiaries and operating divisions. "The group continues to see good demand for its technology solutions and services worldwide," said Montanana. He said a strategic review continued to address the gap between Datatec's valuation and the inherent value of its subsidiaries, while also ensuring the group was positioned to take advantage of the positive market dynamics for its technology solutions and services. "We expect that the trend toward higher software sales and annuity services will continue, improving the group's margins and cash flow profile. There is continued strong demand for the group's products and solutions, which positions the group well in an increasingly complex environment," the board said in the results. "The board expects that all divisions will continue to improve their financial performance in the year ahead," it said in a statement.
The Citizen
6 days ago
- Business
- The Citizen
R4 million spent to axe Port St John's town manager
Protest erupts as Port St John's municipality spends millions trying to oust its manager amid corruption claims. Cash-strapped Port St John's local municipality in the Eastern Cape, has spent more than R4 million in legal fees over the past five months in a bid to remove its municipal manager, according to documents seen by The Citizen. A spreadsheet detailing the cost of R4 038 458.95, incurred by the municipality for the disciplinary hearing of Mluleki Fihlani, excludes costs for venue hire and expenditure by attorneys appointed by mayor Cebisa Mazuza. When asked for comment, Mazuza did not respond regarding the amount spent. R4m in legal fees to remove its manager In a letter to Gxumisa Incorporated Attorneys, Mazuza said: 'I am appointing you as evidence leader in the disciplinary hearing matter of Mluleki Fihlani. According to the private investigator, there is evidence the allegations are serious.' Costs would be according to quoted rates, she added. ALSO READ: Municipality's CFO 'hounded out' of job for refusing to sign dubious contracts The move to remove Fihlani prompted a recent protest bringing Port St Johns to a standstill. Among several controversies to rock the town, were that chief financial officer Tembisa Kahla Sikolo resigned last month and has gone to ground, fearing for her safety. Opposition parties said she resigned due to pressure from politicians who wanted her to sign off on dubious multimillion-rand contracts. Resignation due to pressure – opposition Another is the resignation by the internal audit manager, allegedly due to 'mistreatment'. African Transformation Movement local leader Mzwandile JamJam said 'politically connected individuals are siphoning off taxpayers' money through questionable government contracts'. NOW READ: Corruption claims swirl as Port St Johns CFO steps down
