Latest news with #R4
The South African
7 hours ago
- Sport
- The South African
Miguel Inacio's staggering SALARY at Kaizer Chiefs revealed?
After a mixed start to his first season at Amakhosi, Kaizer Chiefs defender Miguel Inacio heads into the next campaign as the new club captain. The 29-year-old centre-back joined Chiefs from Petro de Luanda. In his debut season for the Glamour Boys, Miguel played 28 times and scored four goals across all competitions. His discipline has let him down at times forcing him to miss several games due to suspension. He received four yellow cards and a red card. According to reports, the Kaizer Chiefs captain earns roughly R350 000 per month, making him one of the highest-paid players in the PSL. 'PontoZero reports that Chiefs paid USD250 000 (approx. R4,4 million) for his transfer from Petro where his minutes were limited,' KickOff reported. 'It is claimed that Miguel's gross monthly earnings are at 20 million Angolan Kwanza (approx. R385 000). This puts his annual package at R4,6 million, putting him into the class of better-earning players at Chiefs,' the publication reported. Miguel has formed a solid partnership with Rushwin Dortley upon arrival however, the young Bafana Bafana defender was sidelined for the second half of the 2024/25 season with injury. The Angolan international has shown leadership qualities, especially in the Nedbank Cup, where he helped Kaizer Chiefs to their first cup win in a decade. 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
11 hours ago
- IOL News
Don't let hackers crash your vacation: cyber safety tips for travellers
Before you connect to the airport Wi-Fi, make sure that you have protected yourself from online hackers looking to swipe your information. A recent study by cybersecurity experts NordVPN and Saily has uncovered just how vulnerable travellers are. From stolen passport scans to hacked frequent flyer accounts, criminals are cashing in on a booming black market of personal travel data, and the cost of your identity on the dark web might be far lower than you'd expect. As international travel surges, so too does cybercrime aimed at unsuspecting travellers. Stolen travel documents are being bought and sold online for as little as $10 (R177), while verified EU passports can command prices of over $5,000 (R88 513). Fake visa stickers, forged bank statements, and loyalty accounts loaded with travel miles are also being traded for hundreds of dollars. Even confirmed reservations are being resold for upwards of $250 (R4 426). 'The staggering prices we're seeing on the dark web show just how valuable and vulnerable travellers' personal information has become,' says Marijus Briedis, chief technology officer at NordVPN. How cybercriminals steal travel data The methods used to steal travel information are wide-ranging and alarmingly simple. Cybercriminals often deploy malware that scans your devices and cloud storage for sensitive files. Phishing sites, which closely mimic real airline, hotel, or visa application websites, trick users into uploading personal documents and ID scans. Travellers are also at risk due to data breaches at airlines, travel agencies, and online booking platforms, which can leak entire passenger profiles. Even publicly accessible cloud folders with weak permissions can be easily discovered and exploited. In more advanced cases, criminals are turning to AI-generated scams to mimic legitimate requests. These include fake Wi-Fi login pages at airports, phoney lounge access portals, or even requests for selfies alongside ID documents, made to look like they come from official sources. 'With AI tools now easily accessible to criminals, these phishing attempts have become simple to create, remarkably convincing, and difficult to detect,' warns Vykintas Maknickas, CEO of Saily. Why travel documents are so valuable According to these experts, travel documents are a goldmine for hackers. Many digital services and identity checks only require a passport scan and a selfie, which criminals can fake using deepfake technology. With the right data, including full name, date of birth, passport number, email address, phone number, and emergency contacts, hackers can: Commit identity theft Open fraudulent bank accounts or credit lines Apply for loans Launch highly targeted phishing or social engineering attacks 'Travel documents offer direct access to your identity with minimal barriers, making stolen travel data incredibly dangerous,' Briedis explains.
Daily Maverick
a day ago
- General
- Daily Maverick
The human cost of the food on our plate and wine in our glass
Last week, I was working in the Western Cape, specifically speaking to farmworkers in rural areas just outside Cape Town. For the first part of the week the discussions centred on working conditions on farms and food insecurity. For the rest of the week I participated in discussions at the Food Indaba that again highlighted the issue of food insecurity, with a specific focus on food waste. In a country where one in four homes is food insecure, there is food waste of more than 10 million tonnes – a staggering figure, especially considering our hunger crisis. As I visited the farmworkers, who graciously allowed my colleague and me into their modest homes, I couldn't help but admire their bravery and willingness to speak out despite possible retaliation from the farmers on whom they depend for their meagre incomes. In fact, a particular moment of tension took us all aback, but it was a further indicator of the urgency of the required intervention. We witnessed one of the women, whom I'll call Janet to protect her identity, being intimidated by an angry farmer because she was speaking to us. The farmer, having seen us arrive, shouted angrily, demanding to know who we were, and proceeded to shout at and threaten Janet in her home. Once he realised he couldn't do much about the situation short of physically muzzling her, he stormed off angrily, muttering to himself. You see, what Janet was telling us about was their deplorable working conditions. She told us that she only had seasonal work, which could sometimes end up being only two to three months out of the year. She said in a 'good month' she could make R4,800. Although Janet's husband was considered to have more of a steady income than her, as well as a contract, he made a similar amount. However, in the rainy season, if, for example, it rained for a week and no work could take place, he would not get paid for that week. This, Janet said, meant it was quite difficult to put food on the table consistently for her family of five. Another alarming practice that Janet told us about was the use of harmful pesticides on the farm, with workers receiving no personal protective equipment to shield them. She described being out in the field working with other farmworkers and having pesticides being sprayed on both them and the produce as they worked. Besides being completely shocked, I also felt angry at the inhumane treatment that vulnerable communities like this face in our food system. It really drove home the point that the Constitution, and all it promises, often fails to reach those who need it most. And this places a responsibility on those of us with social capital and proximity to power to ask harder questions: how exactly does the food we eat every day – and the wine we enjoy – get to our plates? DM
The Citizen
2 days ago
- Business
- The Citizen
Two-pot retirement system: warning about long-term consequences
Is your emergency big enough to make it necessary to withdraw some of your retirement savings under the two-pot retirement system? While consumers are smiling now as they are able to use the money from the savings pot under the two-pot retirement system, experts are sounding the alarm that annual withdrawals could leave pension fund members very poor in retirement. John Manyike, head of financial education at Old Mutual, points out that the number of South Africans who can retire with adequate pension has been at a staggering 6% and therefore people who withdraw funds under the two-pot retirement system are expected to be very poor when they retire. He was speaking at the company's mid-year economic outlook presentation. 'Since the inception of the two-pot retirement system, Old Mutual saw withdrawals of a total of almost R4 billion, with fund members receiving about R2.8 billion, with withdrawals averaging R12 2000 per member. 'People are not using their withdrawals from the savings pot of the two-pot retirement system to buy cars. Most of them will tell you they are withdrawing funds to pay debts. However, if you look at reports from the banks I do not think it will confirm that people are paying off their debts.' ALSO READ: Two-pot retirement system: Almost 4 million withdrawals close to R57 billion The profile of most who withdraw under the two-pot retirement system According to Manyike, most members who withdraw under the two-pot retirement system are between the ages of 31 and 40, with the highest numbers between the ages of 36 and 40. He finds it worrying that people at their prime age are withdrawing from their retirement funds. The majority of people making withdrawals falls earn between R5 000 to R10 000 per month and Manyike says this show that more vulnerable people who may be struggling to make ends meet who are dipping into their retirement savings. 'We hope they use this money for emergencies, as it was intended for.' Michelle Acton, chief customer officer at Old Mutual Corporate recently pointed out that Old Mutual Corporate's 2025 Member Two-Pot Withdrawal Survey showed that 45% of retirement fund members who accessed their savings under the two-pot retirement system did so to service debt. Another 35% used the funds to cover everyday expenses such as groceries, school fees and rent, while more than 70% said they would withdraw again. The tax implications would keep them from withdrawing again and not concerns to preserve their retirement savings for retirement. 'We also noticed a significant increase in savings pot claims at the start of the new tax year, despite only small amounts being available. Of the 413 000 savings pot claims submitted since the two-pot retirement system's inception, 93 000 or roughly 23% were made in the new tax year alone, from 1 March 2025 onwards. 'This confirms the earlier finding: employees will withdraw again if they can, due to financial stress.' ALSO READ: Two-pot retirement system: 75% of second year withdrawals are repeats Use of two-pot retirement system raises questions about financial literacy Acton says that for some pension fund members, this raises questions about financial literacy, although that perspective risks overlooking another issue. 'Employees are not irrational — many are simply financially overwhelmed. They are not failing to plan but struggling to survive.' She points out that the introduction of the two-pot retirement system shifted how employees interact with their retirement savings. 'This creates challenges as well as opportunities for businesses. As employees adjust to the new system, business leaders must step up to support their workforce in balancing short-term financial needs with long-term security.' As early trends under the two-pot retirement system begin to emerge, employers must reckon with a difficult reality: current financial wellbeing strategies may need to be rethought to truly support their employees' financial security, Acton says. 'While workers are engaging with their retirement savings, they do so under financial pressure and often without the support they need to make sustainable long-term decisions.' ALSO READ: Two-pot retirement system: withdrawals not being used for emergencies High withdrawal does not mean failure of two-pot retirement system Acton says it is easy to interpret high withdrawal rates as a failure of the two-pot retirement system or a lack of engagement with the reform. However, she says, this overlooks the core intent of the policy. 'One of its most important features is that members can no longer cash out their full retirement benefit when changing jobs which was historically the biggest destroyer of retirement outcomes in South Africa. 'Old Mutual's own modelling shows that the system improves long-term outcomes, particularly by closing this critical preservation gap. 'But it also shows a more sobering truth: many South Africans simply do not earn enough to save and preserve simultaneously. No amount of financial education can change that without acknowledging it first.' She says the Remchannel April 2025 Salary and Wage Survey clearly illustrates this income strain. 'Despite the inflation rate easing to approximately 3% and average salary increases surpassing this rate at 5.82%, employees continue to experience financial pressures due to rising living costs, particularly for essential goods and services. 'For many households, the salary increases provided are insufficient to absorb the escalating living expenses or reduce debt, let alone support long-term savings. People are making tough choices, not careless ones.' ALSO READ: Two-pot retirement system: rather find an alternative than dip into the savings pot Surge of interest at start of two-pot retirement system The initial rollout of the two-pot retirement system sparked a surge in interest, revealing just how little many employees knew about their retirement benefits. The traction on social media, from TikTok discussions to cheeky brand mentions by the likes of Nando's, shows that retirement savings are no longer seen as a distant or abstract concern but are entering everyday conversations. Acton says the big question now is: how do we use this momentum to benefit employees and ensure they make informed, long-term financial decisions? 'A key challenge for businesses is that meaningful workplace discussions about retirement planning are still too rare. 'Despite growing attention on financial wellbeing, the topic remains sidelined in many organisations, often clouded by jargon, distrust, or lack of visibility.' She says a critical insight from these internal conversations is that while retirement funding was once largely seen as the employer's responsibility, today's employees are expected to plan for their futures on their own, a shift that can leave many employees feeling ill-equipped and unsure of how to manage their financial future. 'Another key observation is that financial education often fails because the information provided can feel disconnected from employees' real-life circumstances. 'For financial education to be effective, it must resonate with employees on a personal level, considering their individual financial realities, challenges, and needs.'
The Citizen
2 days ago
- The Citizen
Drone operators catch maize thieves near Delmas
Security drone operators doing routine aerial patrols had no idea they were about to stumble upon what can only be described as a massive maize theft syndicate near Delmas. Farmcor AS Security drone operators spotted two people carrying 50kg woven polypropylene bags on their heads as they exited a client's maize fields near Hawerklip, close to Delmas Colliery on the R50, Leslie Road, at around 09:00 on July 12. The pair was seen leaving private farmland and heading toward a nearby informal settlement. The drone operators continued monitoring them as they entered a shack in the settlement, where they offloaded the bags. Farmcor AS Security was immediately informed, and reaction units swiftly responded to the scene. Upon arrival, members of AfriForum's Delmas Valke Neighbourhood Watch, CamFX Security and other role players joined the operation. Initial investigations revealed the shacks were used to store yellow maize allegedly stolen from adjacent fields. When reaction members requested access to other dwellings, they were told those were unoccupied. A source close to the investigation said security personnel were informed of more storage facilities nearby. The teams were then led to several zinc shelters, where they confirmed that stolen maize was stockpiled in large quantities. It was stored in about 200 woven bags, pulled from almost every shack. The two initial suspects evaded capture, but the teams recovered about 50 tons of yellow maize. ALSO READ: Learner from Evander High School gets chosen as exchange student to Egypt The price of yellow maize for the July 2025 contract on the South African Futures Exchange is approximately R4 019.80 per ton. Consequently, 50 tons would be valued at roughly R201 000. Several suspicious vehicles, including a 32-ton truck and trailer, were also identified nearby and are believed to be linked to the syndicate involved in the theft operation. Hennie Bekker, AfriForum's district co-ordinator for the Highveld, told the Streeknews that grain theft is an ongoing concern in the agricultural industry. 'Farmers suffer immense losses due to grain theft. Proving the origin of a maize cob or pit is challenging. For instance, if a car is stolen, its ownership can be proved via a VIN or registration number, but proving ownership of grain is impossible,' Bekker explained. 'The real value of what is stolen is also difficult to determine. These thieves steal grain in bags or come onto lands with bakkies, sometimes stealing hectares at a time, so it is nearly impossible to quantify the losses. 'The additional cost of security is another contributing factor to the losses farmers suffer from grain theft, and there is, unfortunately, no real solution to this problem,' Bekker concluded. The Streeknews was unable to confirm at the time of going to print whether there were any arrests in the Hawerklip case. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
