Latest news with #R50
The South African
2 hours ago
- Business
- The South African
New R50 million tidal pool planned for Hout Bay Beach
A brand new tidal pool project at Hout Bay Beach has been approved, with the first step reportedly set to begin soon. According to IOL , the project, led by Sandy Daniel and the Feel Good Initiative (FGI), aims to create a safe, inclusive, and environmentally sensitive swimming space. It is intended to benefit underserved communities such as Imizamo Yethu and Hangberg, who have limited access to secure recreational coastal facilities. Other goals for the tidal pool project include improving ocean safety, supporting marine education, boosting eco-tourism, and ensuring minimal environmental impact. The design will also blend with the natural shoreline and replace an ageing revetment. The tidal pool is estimated to cost about R50 million. FGI is preparing a sponsorship prospectus to secure funding. 'This is a major community project we are working on through The Feel Good Initiative. The first phase of the project involves appointing a qualified Environmental Assessment Practitioner (EAP), and we are in the process of securing the necessary funding to move this stage forward.' Daniel said, as per IOL . The proposed tidal pool site also lies within a Marine Protected Area, and FGI stressed its commitment to protecting sensitive ecosystems by incorporating natural rock formations, consulting marine biologists, and ensuring ongoing environmental monitoring. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
TimesLIVE
3 hours ago
- TimesLIVE
Disbarred advocate, ex-Limpopo MEC Seth Nthai sentenced for corruption
Disbarred advocate and former Limpopo safety MEC Seth Nthai has been sentenced to two years behind bars or a fine of R500,000 after he pleaded guilty to corruption. Nthai tried to solicit a R5m bribe from Italian businessman Mario Vittorrio Marcenaro and his associates 16 years ago. On Wednesday Nthai entered into a plea agreement with the state in the Johannesburg high court. He was then found guilty and sentenced. The court ordered him to pay the first R50,000 immediately after the order. Thereafter he would pay R50,000 monthly until March 2026. In exchange for the R5m gratification he offered to accept from Marcenaro, he would use his influence to get the government to agree to settle the matter [dispute] with each party paying its own costs Court documents At the time he asked for a bribe, Nthai was representing the government, which was locked in a mining dispute with Italian businesses. According to the state, not only did Nthai solicit a bribe, but he also disclosed the merits of the government's case, defences, technical strategies, possible settlement and possible reward if the case was settled in favour of Marcenaro or other claimants of the case. 'In exchange for the R5m gratification he offered to accept from Marcenaro, he would use his influence to get the government to agree to settle the matter [dispute] with each party paying its own costs,' according to court documents. Nthai was disbarred in 2013 but later readmitted by the Limpopo High Court which found depression and anxiety could explain his attempt to solicit a R5m bribe. The Supreme Court of Appeal (SCA) later overturned his readmission to the bar and referred the ruling to the National Prosecuting Authority to consider possible criminal charges. The SCA at the time ruled that on his own version there was no escape from the fact that his attempt to solicit a bribe constituted a serious crime, for which he was not charged.
The Citizen
8 hours ago
- Business
- The Citizen
Outa urges probe into R56 million Polokwane tender scandal
Polokwane municipality has rejected corruption allegations as politically motivated, claiming the tender processes were lawful. The non-profit civil rights group, Organisation Undoing Tax Abuse (Outa), has called on relevant authorities to investigate allegations of more than R50 million worth of corruption involving the Polokwane mayor and municipal manager. Outa CEO Wayne Duvenage was reacting to allegations that mayor John Mpe and municipal manager Thuso Nemugumoni awarded a R56.3 million tender to a company linked to a Zimbabwean national believed to be close to them. Whistle-blower report prompts Outa's call for action The allegation surfaced recently after the matter was reported by local media and shared on social media. 'These allegations should be investigated, more so if the anonymous whistle-blower provides sufficient evidence/facts about the allegations,' Duvenage said. 'The extent of corruption and patronage in municipalities is outrageous. All oversight entities and the criminal justice system must act with urgency to assess the facts, suspend the individuals concerned and ensure accountability and if necessary, criminal charges are applied soonest.' Opposition reveals scale of irregular contracts DA councillor Jacques Joubert said the allegations contained in the documents 'show that there were irregularities with about 28 foreign-owned companies awarded tenders amounting to more than R740 million. 'The spreadsheets outline bid numbers and contract values mostly awarded between 2022 and 2023,' said Joubert. ALSO READ: DA wants Joburg tenders linked to Kenny Kunene investigated 'According to the documents, the tenders were given to people with proximity to the high-level officials. Where there is smoke, there is often fire. Mayor urged to support independent investigation 'The outcome of the investigations that we want on the matter should be made public to ensure full transparency and accountability. If the mayor and city manager indeed feel they have nothing to hide, they should welcome any independent investigation into the matter. 'I understand the mayor has ambitions to become premier, so he would need to tackle this cloud over his name.' Polokwane municipality dismisses allegations Municipal spokesperson Thipa Selala denied the allegations and said it was a smear campaign aimed at discrediting the two officials. Selala defended the mayor and municipal manager. 'We would like to address the recent defamatory claims circulating on digital platforms. It is both necessary and urgent to clarify the facts and expose the political motives behind a series of orchestrated attacks aimed at undermining the integrity of the municipality and its leadership. Officials blame political motives and selective outrage 'The people of Polokwane deserve the truth, not sensationalised fiction designed to destabilise the municipality that is focused on service delivery, clean governance and inclusive development,' Selala said. 'We have noted with concern, contempt and disappointment the continued circulation of unfounded, malicious and misleading allegations on anonymous online platforms. ALSO READ: Man sentenced for defrauding Amtola Water Board in tender scam 'These claims attempt to falsely implicate the mayor and manager and we reject these allegations as baseless, defamatory and politically motivated.' Selala said the matter was an orchestrated smear campaign and politically motivated. 'These attacks often resurface around politically significant periods and are part of a broader agenda by individuals and factions that have lost democratic influence.' He added that the municipality did business with more than 100 companies and service providers across diverse categories of work. It was concerning and suspicious that only a select few were being singled out. 'Why is Polokwane municipality being singled out?' 'It is also important to note that many of the companies listed in recent allegations have been awarded contracts through lawful, competitive bidding processes, before the appointments of both the mayor and municipal manager.' He said that some of the accused companies and others had ongoing relationships with the municipality as far back as 2017, 2018 and 2020 – well before the current leadership team. 'Why is Polokwane municipality being singled out? The answer lies not in procurement irregularities – of which there are none – but in an intensifying campaign of targeted misinformation.' NOW READ: Gauteng health maintains court 'misinterpreted law in waste tender matter
IOL News
a day ago
- Business
- IOL News
The learning board: continuous education as a governance imperative
The pace of change in technology, climate governance, geopolitical tensions, stakeholder expectations, and regulatory shifts demands more than static knowledge. It calls for a governance mindset that embraces learning as a strategic necessity. Image: AI Lab Nqobani Mzizi In today's dynamic environment, a board's effectiveness is measured not just by what its members know, but by how deliberately they continue to learn. Directors may be appointed for their experience, but without renewal, that experience quickly becomes outdated. Yet in many organisations, director education is reduced to a box-ticking exercise, limited to induction packs, technical updates or ad hoc compliance briefings. This is governance at its most passive. In truth, boards should embody the traits of a learning organisation: adaptive, inquisitive, self-aware and committed to continuous renewal. An informed board acknowledges that its fiduciary duties exist in a world of fast-moving risks and opportunities. The pace of change in technology, climate governance, geopolitical tensions, stakeholder expectations, and regulatory shifts demands more than static knowledge. It calls for a governance mindset that embraces learning as a strategic necessity. The proof is stark: a 2023 PwC South Africa Director Survey revealed that 68% of South African directors admit their boards are outmatched by technological disruption, yet a mere 31% invest in formal upskilling. Directors cannot rely solely on legacy knowledge or past achievements. The role has evolved, and so must those who occupy it. In 2022, boards spent less than 5% of their time discussing climate risks. The KZN floods that year cost R50 billion. The gap between governance and reality is unsustainable. Boards that fail to learn, fail to lead. The concept of a learning organisation, popularised by Peter Senge, rests on disciplines such as systems thinking, personal mastery, mental models and team learning. These principles are equally applicable to governance. Boards that model intellectual agility are better positioned to anticipate risk, adapt to change and shape resilient organisations. They do not wait for a crisis to revisit assumptions. They engage proactively, ask difficult questions and challenge entrenched thinking. 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. 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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. Next Stay Close ✕ Yet becoming a board committed to continuous renewal does not happen by accident. It requires deliberate investment. Formal director development programmes are one part of the equation, but not the whole. Ongoing capacity building must be embedded into board culture and processes. It includes reflections after key decisions, cross-committee peer learning, exposure to external perspectives and periodic assessments of knowledge gaps. It also includes openness to uncomfortable truths, recognising when the board lacks diversity of thought or when market and strategy assumptions are no longer fit for purpose. One of the clearest signals of a board's commitment to growth is how it allocates time. Agendas dominated by compliance reviews and operational reports leave little space for strategic thinking or capacity building. A forward-looking board agenda should reserve time for horizon scanning, scenario planning and trend deep dives, from generative AI and cybersecurity to climate disclosures, social unrest and institutional reputation. The question is not whether these issues are important, but whether the board is equipped to govern them well. Governance frameworks codify this imperative. King IV in South Africa explicitly underscores the need for ongoing director development as integral to ethical and effective leadership. Principle 1 highlights the responsibility of the board to lead with competence and awareness, while Principle 7 calls on governing bodies to ensure that their composition, skills, experience and capacity align with the organisation's needs. Continuous learning is, therefore, not an optional extra, but a governance requirement rooted in accountability and future fitness. Importantly, this learning orientation must go beyond individual directors. It must shape the board as a collective. The best boards are not echo chambers of technical expertise, but dynamic forums of inquiry. They welcome diverse viewpoints, interrogate blind spots and evolve with the organisation they serve. Adaptive boards are also better stewards of succession, identifying gaps and mentoring future leaders with clarity and foresight. They understand that board continuity is not just about filling seats but about transferring wisdom. Some companies have introduced directors' retreats, not as ceremonial off-sites, but as serious opportunities for immersive engagement with new ideas. Others rotate committee chairs to foster cross-learning and reduce siloed thinking. A growing number of boards are also creating advisory panels with academics, technologists or emerging market experts who present independent insights and challenge institutional orthodoxy. Boards that operate as communities of growth also tend to approach self-evaluation differently. Rather than relying on template-based questionnaires, they view assessments as opportunities to identify development areas, improve dynamics and deepen collective performance. The value lies not only in the review itself, but in the courage to act on its findings. In an age of complexity and disruption, the evolving board is not a luxury. It is a governance necessity. It strengthens oversight not only through technical competence, but through curiosity, humility and responsiveness. It builds institutional capacity not merely to react, but to adapt and regenerate in the face of change. To lead well in this environment is to remain teachable. An adaptive board recognises that effective governance is not about knowing everything, but about cultivating a posture of inquiry, one that seeks out what matters most before the next disruption makes it urgent. Board effectiveness demands self-examination. Boards must ask: Are we building knowledge renewal into our board agenda, or treating it as an after thought? Do our development efforts build strategic agility, or simply refresh technical compliance? Are we actively drawing on diverse, independent perspectives to challenge blindspots? If our approach to knowledge renewal were visible to stakeholders, would it inspire confidence or concern? Ultimately, a board's legacy will rest not on its past expertise, but on the learning culture it fostered and how well it prepared the organisation for the future. Nqobani Mzizi is a Professional Accountant (SA), (IoDSA) and an Academic. Image: Supplied * Nqobani Mzizi is a Professional Accountant (SA), (IoDSA) and an Academic. ** The views expressed do not necessarily reflect the views of IOL or Independent Media. BUSINESS REPORT
The Citizen
a day ago
- Business
- The Citizen
Retired Cape Town mom to buy daughter a car after claiming Lotto millions
'I want to enjoy my retirement fully now. No stress, just peace. That's my dream.' The winner of the Lotto draw from Saturday, 26 July 2025, has claimed her R30 211 138.30 jackpot. She purchased her winning ticket at a retail store in Cape Town with R80 and manually selected her lucky numbers. 'Retirement blessing' The winner, who just went into retirement, described her win as a 'retirement blessing' 'I still can't believe it. I keep looking at the numbers and thinking, 'is this really happening to me?'' she said. She expressed how she has been supporting her two daughters financially. She said that her biggest worry has been her youngest daughter's daily commute to work. 'She uses e-hailing every day because she doesn't have a car, and I worry about her safety constantly. Now, the first thing I'm doing is buying her a car. That will give me so much peace of mind,' she said. Charmaine Mabuza, CEO of Ithuba, congratulated the winner. 'We are thrilled that the winner wasted no time in claiming her winnings! To learn that she will finally be able to gift her daughter with a car that will help ensure a safer commute to work is heart-warming and will surely ease her anxiety,' said Mabuza. Beyond providing for her family, the Lotto winner plans to invest the bulk of her winnings and embrace a well-earned rest. 'I want to enjoy my retirement fully now. No stress, just peace. That's my dream.' ALSO READ: Have you checked your Lotto ticket? R30 million has been won What happens after winning? All Lotto winners receive an SMS from their banks containing a reference number and further instructions regarding what documents to take along when visiting the lottery operator, Ithuba. If a player wins less than R250 000, the money will be deposited directly into their account if they used a banking app to play. Players who win more than R250 000 will be referred to the Ithuba for a payout. Winners of more than R50,000 receive free financial and trauma counselling. All winnings are tax-free.
