Latest news with #R40m
TimesLIVE
5 days ago
- Business
- TimesLIVE
Lesufi's office receives further R50m to raise its allocation to R1.72bn
A notable addition includes R50m to the office of the premier for Nas'iSpani, the flagship youth skills and employment initiative led by the Gauteng City Region Academy (GCRA). To stimulate the township economy and support entrepreneurs, the department of economic development will get an additional R100m. 'Sixty million rand will augment the R40m allocated at the start of the financial year for loan funding support to SMMEs, while R40m will help the department meet its strategic targets,' Maile explained. He said this funding will also 'lay the groundwork for unlocking the investment pledges made at the Gauteng investment conference.' The department of human settlements receives the largest share of the budget adjustment, R332m. 'This allocation is to assist in servicing informal settlements with sanitation and R100m is for securing land and finished structures to mitigate against land invasion and illegal occupation. 'Roads and transport will benefit from an additional R314.9m, with R150m earmarked for the repair and completion of 54 priority roads across the province. 'Another R115m will be channelled towards fixing broken traffic lights and street lights,' Maile noted, adding that improved road infrastructure is vital for mobility and economic growth. The newly established department of environment will receive R68m — R18m will be for governance capacity and R50m for the 'clean and green' programme in collaboration with municipalities. 'This is aimed at improving the lived experience of the Gauteng citizenry and responding to the challenge of unclean public spaces,' Maile said. Budgets for health (R67.1bn), education (R68bn), and social development (R5.4bn) remain unchanged. Maile said the budget demonstrates the overall 'thrust of our budget approach remains the resourcing of critical social and economic programmes that form the basis of the social wage with our people.'
TimesLIVE
14-05-2025
- Business
- TimesLIVE
Morning at the Joburg Market
Opened in 1887 at Johannesburg's Market Square, the Joburg Market moved to Newtown in 1913 and finally found a permanent home at City Deep in September 1974. It opens its doors for trade in the early morning hours. The building welcomes buyers with numbered pictures of vegetables and fruit that show which hall is where. When you enter the trade hall, your ears are met with the hustle and buzz of trade and your eyes are greeted by the 4,500 tons of fresh produce sold daily. On the trade floor you see a trader counting money, while another is helping a buyer to carry the produce they have bought. The hooting of forklifts carrying produce and the sound of trolleys being pushed and pulled into trading stalls remind you that everyone is here to make a living. Everything happens so fast that the two hours I spent here flew past. By the time you leave the trading halls, the sun is up and buyers are carrying their produce to their vehicles. The market's spokesperson Tshegofatso Maakwe said it averages sales of R40m daily, with a daily record of R66m, and an average monthly turnover of R946m. The Joburg Market hosts the World Union of Wholesale Markets Conference at the Sandton Convention Centre from Wednesday to Friday, with more than 20 countries in attendance.
The Herald
26-04-2025
- Business
- The Herald
SIU unhappy with lack of co-operation as it probes Road Accident Fund
The Special Investigating Unit (SIU) says it has experienced a lack of co-operation from the Road Accident Fund (RAF) in its investigation into the affairs of the entity. Briefing parliament's standing committee on public accounts on Friday on its investigation into the affairs of the RAF, SIU head Andy Mothibi said information provided by the RAF in response to requests from the SIU pertained mostly to a period outside that stipulated in terms of the SIU Act. Some of the requests to date had not been responded to by the RAF. 'There were instances where the SIU had to resort to opening a criminal case against a RAF executive for failure to adhere to a lawful subpoena issued by the SIU in terms of the SIU Act.' Mothibi said its investigation methodology involved a right of reply from the implicated party. 'In our RAF investigation, we noted with concern a directive issued by the RAF to its employees in respect of the right of reply, wherein employees were directed to forward the SIU's right of reply to the RAF management, such that responses to the SIU are well co-ordinated. 'We viewed this directive as having a potential to compromise the investigation and it could amount to interference,' Mothibi said. He said the SIU had engaged with RAF management to ensure it did not compromise the investigation. The SIU had directed communications to the RAF CEO Collins Letsoalo. 'We hope the CEO will consider our correspondence and respond to us as appropriate.' The SIU investigation into serious maladministration in the RAF followed a proclamation issued in 2022. Leonard Lekgetho, SIU's chief national investigations officer, said it had completed a number of investigations and was in the process of pursuing civil litigation. These included the decision by the RAF to do away with a panel of attorneys, an office building contract worth R17m per year for five years, a R12m cleaning contract and a R40m office furniture contract. The SIU also investigated 102 law firms, which included sheriffs, that received duplicate payments from RAF of about R340m. When approached with evidence, several legal practitioners co-operated with the SIU investigators by signing acknowledgments of debt The SIU had signed acknowledgments of debt to the value of R70m with actual cash recoveries to date amounting to R42m.
TimesLIVE
25-04-2025
- Business
- TimesLIVE
SIU unhappy with lack of co-operation as it probes Road Accident Fund
The Special Investigating Unit (SIU) says it has experienced a lack of co-operation from the Road Accident Fund (RAF) in its investigation into the affairs of the entity. Briefing parliament's standing committee on public accounts on Friday on its investigation into the affairs of the RAF, SIU head Andy Mothibi said information provided by the RAF in response to requests from the SIU pertained mostly to a period outside that stipulated in terms of the SIU Act. Some of the requests to date had not been responded to by the RAF. 'There were instances where the SIU had to resort to opening a criminal case against a RAF executive for failure to adhere to a lawful subpoena issued by the SIU in terms of the SIU Act.' Mothibi said its investigation methodology involved a right of reply from the implicated party. 'In our RAF investigation, we noted with concern a directive issued by the RAF to its employees in respect of the right of reply, wherein employees were directed to forward the SIU's right of reply to the RAF management, such that responses to the SIU are well co-ordinated. 'We viewed this directive as having a potential to compromise the investigation and it could amount to interference,' Mothibi said. He said the SIU had engaged with RAF management to ensure it did not compromise the investigation. The SIU had directed communications to the RAF CEO Collins Letsoalo. 'We hope the CEO will consider our correspondence and respond to us as appropriate.' The SIU investigation into serious maladministration in the RAF followed a proclamation issued in 2022. Leonard Lekgetho, SIU's chief national investigations officer, said it had completed a number of investigations and was in the process of pursuing civil litigation. These included the decision by the RAF to do away with a panel of attorneys, an office building contract worth R17m per year for five years, a R12m cleaning contract and a R40m office furniture contract. The SIU also investigated 102 law firms, which included sheriffs, that received duplicate payments from RAF of about R340m. When approached with evidence, several legal practitioners co-operated with the SIU investigators by signing acknowledgments of debt The SIU had signed acknowledgments of debt to the value of R70m with actual cash recoveries to date amounting to R42m.
TimesLIVE
24-04-2025
- Sport
- TimesLIVE
No automatic relegation from Premiership after Royal AM expulsion
The Premier Soccer League (PSL) board of governors (BoG) has supported the recommendation by the executive committee that the team that finishes 15th in the 2024-25 Betway Premiership will go to the promotional play-offs, with no side automatically relegated. This is in response to the expulsion of Royal AM from the PSL, which left the Premiership with 15 teams. Ordinarily the last-placed (16th) team is automatically relegated, plus second-last side goes to the playoffs. It was also decided at Thursday's BoG meeting the South African Football Association, which oversees the amateur third tier, will have to promote three sides from the ABC Motsepe League to the Motsepe Foundation Championship (MFC). The BoG's decision means there will be no automatically-relegated side from the Premiership at the end of the 2024-25 campaign. Only the 15th-placed side — likely to be SuperSport United, Cape Town City, Marumo Gallants and Richards Bay at this stage — will go to the dreaded playoffs. Ordinarily two sides are automatically relegated from the second tier MFC to the third tier ABC Motsepe League. At the end of this season two will be relegated from the MFC and three will come up from the ABC, to make up for the shortfall of one team that will be left by an one more side going to the Premiership than comes down. If the Premiership side is relegated via the playoffs, two will go up from the MFC. If the 15th-placed Premiership side survives the playoffs, no side will be relegated from the top flight but the MFC champions will still be promoted. Points received by any teams from draws or wins in the 11 matches Royal played in the 2024-25 Premiership will be expunged. Last week, Royal failed in their urgent bid to interdict the BoG's meeting but that judgment has been reviewed and their case will be heard later in the month. Royal were suspended from playing matches in January after failing to honour various fixtures from late December. AM could not fulfil games after the club was put under curatorship by the South African Revenue Service (Sars) in late November over an alleged tax debt of R40m by owner Shauwn Mkhize, which meant players and technical staff were not paid and trainings ground to a halt. Sars' attempted to auction Royal in late March collapsed after the successful bidder in failed to deposit an agreed sum into the specified bank account. The PSL BoG overwhelmingly voted to ratify a recommendation made by the executive committee that the club be expelled on April 10. The league is expected to publish the updated log standings later.
