Latest news with #R5-billion
The Citizen
3 days ago
- Business
- The Citizen
Cape Town's appeal as a film destination drives upswing in city's hospitality industry
With foreign film investment in Cape Town set to surpass R5 billion by October, the city's hospitality sector—especially in the CBD—is thriving. Cape Town's global appeal as a film destination is driving a major economic upswing in the city's hospitality industry. Picture:Cape Town's global appeal as a film destination is driving a significant economic upswing in the city's hospitality industry. However, in May, US President Donald Trump proposed imposing a 100% tariff on all foreign-produced content. If enacted, this tariff could affect locally made films, including productions filmed in Cape Town, and series sold to the US market. 'It may have an impact on films looking to be produced solely in Cape Town, but as an example, many scenes in the new Mission Impossible movie were shot in parts of Cape Town and the Western Cape,' Grant Elliot, chief operating officer at Thibault Investments and deputy chairperson of the Cape Town Central City Improvement District (CCID), told The Citizen. 'The movie was still made and produced out of the United States, and this is the case with many productions from around the world that use our beautiful city and landscape in their productions,' he said. According to the City's Film Permits Office, from 1 November 2023 to 30 June 2024, film crews booked more than 59 000 beds in Cape Town, spending nearly R148 million. These productions are driving consistent demand for accommodation, food services, transport and office space, creating real economic value for local businesses. ALSO READ: Trump's film tantrum: Brandon Auret calls on Gayton McKenzie to invest in local films What makes Cape Town special? With foreign investment in Cape Town's film production industry estimated to break through the R5-billion barrier by October this year, the city's hospitality industry, especially in the CBD, is reaping huge rewards. South Africa's central business districts (CBDs) are often associated with unsafe, polluted, and derelict buildings. Elliot says what has made Cape Town's CBD standout is the partnership between the government and the CCID. 'The Cape Town CBD is a well-managed CBD with several partners working together to ensure it is safe, clean, and a welcoming environment to visit, do business, work and stay,' he says. The CCID is a not-for-profit private-public company established 25 years ago to create a workable inner city. It focuses on public safety, cleanliness, and social development, maintaining a continuous 24/7 presence in the central city and providing services that complement those of the city and South African Police Service (Saps). According to the City of Cape Town's Film Permits Office, a total of 550 production shoots took place in the Cape Town CBD from 1 January to 26 May 2025. These included commercials, documentaries, feature films, micro-shoots, music videos, student projects, TV films and productions, and TV series. Of these, 219 were 'large and very large' commercial shoots, 106 were micro shoots, 22 were TV series, and 14 were feature films. ALSO READ: Back to the Future: Search is on for the Gibson guitar that was last seen in 1985 Tourism There's a lucrative tourism factor when people shoot films across South Africa. The impact of cinema on tourism is enormous. The fantasy film series The Lord of the Rings significantly contributed to New Zealand's GDP through tourism. The series, which was filmed entirely in Australia, boosted tourism by approximately 50%, generating an estimated NZ$33 million (approximately R600 million) in annual revenue. By 2018, New Zealand welcomed approximately 3.6 million visitors annually, and tourism had become the nation's largest export industry. Speaking to The Citizen in May, actor Brandon Auret stated that South Africa has more to offer tourists than its three largest metropolitan areas: Johannesburg, Cape Town, and Durban. 'My whole big thing is not just about making films, not just about investing in the communities that are in those cities, but opening up the tourism. Getting people to go, 'wow, that movie was shot where?',' says Auret. Elliot couldn't comment on whether there has been a similar demand from local productions to shoot in. Auret has called on Minister of Sport, Arts and Culture Gayton McKenzie to use Trump's 100% tariffs on films made outside the US as an opportunity to invest in the local film industry. 'I'm a firm believer in that when the door is closed, jump through the window,' he said. NOW READ: A spy's story – David Africa's book 'Lives On The Line' thrills
Daily Maverick
15-05-2025
- Business
- Daily Maverick
Fraud prevention service saves clients more than R5-billion as scams soar in 2024
On Thursday, 15 May 2025, the Southern African Fraud Prevention Service (SAFPS) kicked off its annual summit with a bang — or rather, a barrage of numbers that would make any fraudster's palms sweat. Held both in person at Nedbank's Rivonia Campus in Johannesburg and online, the summit unveiled the 2024 SAFPS Annual Report, presented by Roy Retief, Head of Operations at the Southern African Fraud Prevention Service. Although SAFPS managed to save its members (companies from the financial services and retail sectors) more than R5-billion last year and a whopping R30-billion over the past decade, fraud is not taking a holiday any time soon. 'Fraud has evolved and is becoming more sophisticated, more targeted and more personal,' said SAFPS CEO Manie van Schalkwyk. Van Schalkwyk further said there was a critical need for collaboration among organisations to combat rising fraud and scams effectively. Key initiatives like the Yima Anti-Scams WarRoom, which served as a one-stop portal where users could report scam incidents or suspicious activities, demonstrated SAFPS's commitment to leveraging shared intelligence and partnerships. Fraud's favourite hangouts When it comes to fraud hotspots, Gauteng, KwaZulu-Natal and the Western Cape are still the usual suspects — think of them as the 'Fraud Triangle' of South Africa. Gauteng showed a modest 5% dip in fraud incidents compared to 2023, so the scammers there either took a short holiday or just got smarter about hiding. Impersonation spike Victims of impersonation — where your personal information is used fraudulently — account for up to 16% of SAFPS listings, and this category surged by 38% in 2024. Interestingly, men appear to be leading the pack as prime targets, showing that fraudsters aren't picky but might have a particular eye on the fellas. Fraud's many faces Fraudsters are getting creative, with scammers opening bank accounts solely to move stolen money — this sneaky misuse of accounts jumped 24%. Meanwhile, the number of money mules — those unwitting or willing accomplices who let criminals use their accounts — have dropped. 'We saw money mules dropping within the misuse of accounts by 33%, and typically… that is where account holders are making their accounts available to criminals willingly, sometimes not so willingly,' Retief said. However, retail accounts, which only accounted for 0.3% of fraud incidents, were under siege, with abuse soaring 155% as criminals took over credit and left the victims with the bill. 'Typically, you'd find (retail fraud) would occur where a consumer opens an account with a retailer with no intent to repay that debt at all,' he said. Billions saved, more to protect Despite these alarming statistics, there's a silver lining. Over the past decade, the SAFPS database has prevented R30.63-billion in fraud losses. In 2024 alone, it saved R5.04-billion, following R6.9-billion saved in 2023, while fielding more than 72,000 calls and more than 50,000 emails to assist victims and members. Christo Otto, the chairperson of the SAFPS board, commended the board's steadfast support and the SAFPS team's ongoing commitment to combating financial crime in 2024. 'The SAFPS board must be commended for its determination in supporting the ongoing work of the SAFPS in its fraud prevention efforts for members and consumers at large,' he said. What this means for you Although fraud is evolving fast, there are practical steps you can take right now to protect yourself and your finances: Your identity is a hot commodity: Protect your personal information. Think twice before sharing your ID or banking details online or over the phone. Retailers are prime targets: Your shopping accounts, both online and offline, are at risk. Use strong, unique passwords and enable two-factor authentication where possible. Fraud prevention is a team effort: You can actively protect yourself by registering your accounts and promptly reporting any fraud attempts. Stay informed, stay safe: Keep up to date with alerts from SAFPS and your financial institutions to avoid falling victim. The summit made one thing clear: fraud is evolving, and the fight against it must evolve too. With protective registrations steadily increasing and billions already saved, there is genuine hope that South Africa's fraudsters might find their playground growing smaller. DM
