Latest news with #R52
The South African
4 hours ago
- Sport
- The South African
UFC Rankings: Dricus Du Plessis DROPS to lowest, Khamzat soars!
The latest UFC men's pound-for-pound rankings are out. Dricus has plummeted after his first loss. The official UFC men's pound-for-pound ranking has been updated following du Plessis title loss to Khamzat Chimaev at UFC 319. So, du Plessis has dropped to his lowest ranking. Meanwhile, Khamzat is the biggest climber. 1 Ilia Topuria 2 Islam Makhachev 3 Merab Dvalishvili 4 Khamzat Chimaev Rank increased by 10 5 Alexandre Pantoja Rank decreased by 1 6 Alexander Volkanovski 7 Magomed Ankalaev 8 Jack Della Maddalena 9 Tom Aspinall 10 Alex Pereira 11 Dricus Du Plessis Rank decreased by 7 12 Max Holloway Rank decreased by 1 13 Belal Muhammad Rank decreased by 1 14 Arman Tsarukyan Rank decreased by 1 15 Shavkat Rakhmonov NR So, du Plessis has dropped SEVEN places after losing the first fight of his UFC career against Chimaev. He fell from FOURTH position to 11th . Furthermore, Chimaev has soared since conquering dricus and becoming the new UFC middleweight champion at UFC 319. He has risen 10 spots up and now sits FOURTH in the latest men's pound-for-pound rankings. Please Note: The UFC's pound-for-pound rankings includes fighters from all weight classes. This does not mean that they are able to face each other as fighters compete within their respective weight classes. Dricus made over R50 million despite losing one of the most one-sided title bouts in UFC history. 'Just for stepping into the ring at UFC 319 at the United Centre in Chicago, Stillknocks walked away with a cool $3 million – over R52 million,' IOL reported. So, it is a bitter-sweet pill for du Plessis to swallow. He lost his middleweight championship and was defeated for the first time in his UFC career. However, he still made over R52 million just for stepping into the ring and showing up. 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
a day ago
- Sport
- IOL News
Massive payday for Dricus du Plessis despite UFC title loss to Khamzat Chimaev
Got paid South Africa' Dricus du Plessis throws a punch during his title fight against Khamzat Chimaev of the United Arab Emirates during their middleweight title bout at UFC 319 at the United Center in Chicago. Photo:/AFP Image:/AFP Despite losing his Ultimate Fighting Championship (UFC) middleweight title to Khamzat Chimaev of the United Arab Emirates over the weekend, South African mixed martial arts star Dricus du Plessis is smiling all the way to the bank. Just for stepping into the ring at UFC 319 at the United Centre in Chicago, Stillknocks walked away with a cool $3 million – over R52 million. reports that Du Plessis' fee was made up of a base purse worth $1 million – as he was the reigning champion – and topped up by $1–1.5 million in Pay-Per-View and promotional bonuses. Had he won, his fee would have increased by $500,000 (R8.8 million). Get your news on the go, click here to join the IOL News WhatsApp channel. 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 ✕ On top of that, Du Plessis is reported to have pocketed $3.34 million (almost R59 million) from his fight at UFC 312 against Sean Strickland, and $1.9 million (almost R21 million) for his fight against Israel Adesanya at UFC 305. For his first fight against Strickland at UFC 297, where he claimed the title, he is reported to have earned R7.6 million. Over the last four UFC events, Du Plessis has earned roughly R138 million to R147 million. In his initial UFC bouts, Du Plessis earned approximately $50,000 (over R880,000) per fight, including show money and win bonuses. For instance, his fight against Robert Whittaker at UFC 290 reportedly earned him around $250,000 (R4.5 million). In total, it's estimated that Du Plessis has made R160 million over the last five years. While the loss to Chimaev may sting in the short term, Dricus du Plessis' financial success and rising profile in the UFC show that his star is only going up. With his skill, marketability, and growing fan base, Du Plessis has not only cemented himself as one of South Africa's premier MMA exports but also positioned himself for even bigger paydays and opportunities on the global stage. The future looks bright – both in the octagon and in his bank account. IOL Sport Get your news on the go, click here to join the IOL News WhatsApp channel.
IOL News
27-07-2025
- Business
- IOL News
Stokvels hold billions, but are they missing the bigger financial opportunity?
South African stokvel savers are showing resilience and determination as they continue to stash away billions in savings despite the tough economic climate. Image: File Stokvels are traditional community-based savings clubs that have largely been utilised, particularly among lower-income communities, pooling resources towards common or different goals. Last year, IOL reported that South African stokvel savers are showing their resilience and determination as they continue to stash away billions of rand in savings despite the tough economic climate. At the time, FNB revealed that, since November 2019, its customers' stokvel deposits had increased by 42 percent, surpassing the R8,3 billion mark in total member contributions. Across the country, savings through stokvels are estimated to be valued at almost R50 billion a year. On the other hand, Standard Bank, citing data from the National Stokvel Association of South Africa (Nasasa), said there are over 810,000 active stokvels in South Africa, which collect an estimated R50 billion in savings annually from more than 11 million members. Speaking to IOL, chairperson of Sakhisizwe Property Stokvel, Silindile Leseyane, said stokvels have been around for many years, primarily focusing on short-term savings and death benefits for their members. 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 ✕ Chairperson of Sakhisizwe Property Stokvel, Silindile Leseyane, spoke to IOL Image: Supplied 'As the stokvel industry is estimated at R52 billion, the missed opportunities are meaningful investments and opportunities to participate in the economy in a meaningful way,' she said. 'The challenge is most stokvels have a short-term focus and don't have the long-term view that is required to create real impact. They are also mostly informal, and therefore this also has an impact on the longevity of the stokvel.' She suggested stokvels would do better by being formalised, and taking fractions of their savings, ploughing them into meaningful investments. 'This would have a great economic impact for them, their families, and their communities,' she said. On the other hand, a seasoned entrepreneur, author, and stokvel expert, Busi Skenjana, told IOL that the stokvel ecosystem is fraught with challenges and misconceptions, but if done professionally, the venture can be rewarding - and she has the lived experience. Skenjana has penned a book titled: 'Stokvel Voices: The Truth, the Illusions, and the Opportunities'. 'I would say around stokvels, there is a lot of movement, the ground is actually swelling into the future,' she said. 'Being a member of a stokvel myself, I think people could do better. In the book, I have covered about five stokvels, some of which I belong to. I have actually rated the stokvels - there are about two or three which I give a high rating, according to my assessment. There is still a lot that they could do better.' Skenjana told IOL that there is a need for financial education for members of stokvels and a departure from the mindset of consumerism, where all the savings are destined to be devoured at a given time, or when a target figure is reached. 'You find that many stokvels are consumer oriented, as opposed to long-term investments. For me, that is something that is glaringly not right. The emphasis is on consumerism, as opposed to how we can, together, build wealth as a community, and to address the economic imbalances,' she said. 'We all know the origins of stokvels, which was to try and minimise the economic blow that people suffered through the apartheid era. I still find that there is more of the social and quick disposable money - we save R50,000 which we later distribute among members, blow it then we start all over again. That is wrong and an area of concern.' In her lived experience, Skenjana said she has been part of formalised stokvels, which have managed to make meaningful investments into property and other significant undertakings. She insisted that there are opportunities for young people to come together and make considerable investments as groups, which will help them in their twilight years. 'I have become a gogo and still a member of a stokvel. Gogo does not join a stokvel in her advanced years. No, one joins from their 20s and grows like that. People look at the aged people in stokvels and forget that these people became members of the stokvel when they were young. Some people have been in stokvels for more than 50 years, literally. 'I was speaking to a woman who told me that in their stokvel, they were celebrating the 50th anniversary. Personally, I think I was around 25 years old when I joined the stokvel, and I am 68 years old. I am still a member of two stokvels.' Author Busi Skenjana's life experiences have significantly shaped her understanding and advocacy for stokvels. Image: Supplied Skenjana said she is a proud member of stokvel formed around 1998 which is formally referred to as an investment club, a registered company. 'The model was a stokvel. Ten of us came together and we decided to buy a holiday home in Mpumalanga, and we converted the stokvel into a company. We have been owning that property since 1998, and it is what I can call passive income generation,' she told IOL. 'Note that the property we purchased as a stokvel is an inheritance for our children. This is something that I am trying to preach, this is not about me. Two of our fellow members have passed away, but their children are still benefiting from that stokvel. That is how we have structured it.' IOL has previously reported on incidents where members of traditional stokvels have been robbed while gathered in a house to share money, or of unscrupulous members fleeing with other members' savings. Skenjana said in this era, systems are digitalised to avoid the common pitfalls of dealing with cash. 'My advice is, stop handling cash. Even in our personal lives, it is not safe to be walking around with lots of cash in your handbag or in your back pocket. My advice to stokvels is that they must use the banking system. Banking is fairly accessible in South Africa now, unlike the era when stokvels were initially formed. People have to deposit directly into bank accounts. When it is time to share, at the end of their cycle, they should just do transfers,' she said. 'Handling cash is a no no. Unfortunately, it is still happening with the older generation, because some still say it feels good to have to touch the money physically, to see and feel the paper.' Skenjana said commercial banks have a lot of work to do in terms of guiding the stokvel members on investments. 'Quite the bulk of stokvel money is sitting in bank vaults. Members of stokvels save with the four major banks in South Africa. Having been part of the stokvel terrain, I have even established a stokvel academy. I am still to see a bank that says, we are committed to educating these stokvels. They love these stokvels for their databases, and they try and harvest as many stokvels as possible,' she said. 'In terms of financial education, it is still lacking.' In December, IOL reported that the provincial commissioner of police in Limpopo, Lieutenant General Thembi Hadebe, has warned community members, particularly social clubs or stokvels, against carrying large amounts of money, as they can be targeted by criminals and robbed. The appeal was made by the provincial police commissioner following a house robbery where a mother and daughter were robbed. Provincial police commissioner in Limpopo, Lieutenant-General Thembi Hadebe Image: SAPS 'A 54-year-old female victim fell victim to a house robbery involving a social club's money at Strydkraal Block A village under the Sekhukhune district on 9 December 2024, at about 10 pm,' Limpopo provincial police spokesperson, Colonel Malesela Ledwaba, narrated. He said preliminary investigations revealed that members of a local social club held a meeting at the victim's residence to discuss how they were going to distribute the money they had saved. That meeting started at around 3 pm. 'The meeting concluded at approximately 7 pm, and the members of the social club departed to their homes and left the victim with her teenage daughter,' said Ledwaba. 'At about 10 pm, three unknown male suspects instantly broke into her house and robbed a substantial amount of cash belonging to the social club and later locked the two victims inside one of the bedrooms before fleeing the scene on foot.' The traumatized mother and daughter were later rescued by a relative. The matter was then reported to the police. IOL News
SowetanLIVE
14-07-2025
- Automotive
- SowetanLIVE
Trump's copper tariffs pile more metal misery on US car industry
US President Donald Trump's threat of a 50% tariff on copper imports is raising alarm in the US car sector as it could make it even harder for carmakers and suppliers to absorb border taxes and rising costs, executives and industry experts say. The duties on their own may be manageable, but prices of the red metal vital for making cars, in particular in wire harnesses and motors for electric vehicles, have soared to record highs. The US market is heavily reliant on imported copper, aluminium and steel, and developing new capacity could take years so users are scrambling to buy metal from a limited number of suppliers, spurring price rises. Added to import tariffs on the metals, and higher prices in the US, the extra costs are compounding the financial strain on carmakers and parts suppliers, interviews with a dozen executives, industry analysts and experts show. Carmakers have been relying on inventories to avoid raising prices, but could be forced to pass on mounting import tax costs to consumers. Some, including Ford and Toyota, have announced hikes to mitigate other Trump-induced tariffs, while Porsche expects a €300m (R6,285,306,000) hit to results from tariffs for April and May alone. "This (a copper tariff) complicates a difficult situation" for the car industry, said Daan de Jonge, lead analyst for copper demand and prices at Benchmark Mineral Intelligence. Trump's announcement of the tariff ast week propelled prices on US platform Comex to a record $5,682 (R102,044) a pound (0,453kg) or $12,526 (R225,018) a metric ton, a premium of more than $2,920 (R52,459) a ton over the price on the London Metal Exchange, around $9,600 (R172,469) a ton, which the market uses as the global benchmark. The rate is effective from August 1. The US Midwest duty-paid aluminium premium paid on top of the benchmark LME price for physical delivery has tripled to 60 US cents (R10,71) a pound since Trump was inaugurated. In the same time, the LME price has slipped 3% to $2,604 (R46,783) a metric ton. US top carmakers GM , Ford and Jeep maker Stellantis declined to comment.
The Citizen
20-06-2025
- Business
- The Citizen
Africa top 200 report: South African brands take top 10 spots
The top 10 brands include network operators, banks and retail groups. The top 10 most valued brands in Africa are all South African, with Africa's largest mobile network operator, MTN, retaining first position. Brand Finance, responsible for compiling the report of the top 200 brands in Africa, commenced in 2020. Since its establishment, MTN, headquartered in Johannesburg, has consistently held the top spot. According to the report, the network operator has a brand value of $2.9 billion (more than R52 billion). Nigeria remains a substantial market for MTN, boasting a substantial subscriber base. ALSO READ: Can Pick n Pay's new look fix their troubles? New store design revealed Top 10 South African brands Jeremy Sampson, executive chair of Brand Finance Africa, said: 'The dominance of banking, telecoms and retail brands in the Africa 200 2025 ranking truly highlights that these companies are vital to the daily lives of African consumers and that these sectors are driving the continent's emerging economies. 'Their continued growth, despite fierce global competition, proves that African brands can stand shoulder to shoulder with the world's best, offering high-quality products and services that resonate across the continent and globally.' The top 10 brands include network operators, banks and retail groups. South African brand values Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. 'In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity and business performance,' reads the report. MTN – $2.9 billion (more than R52 billion) Vodacom – $2.5 billion (more than R45 billion) Standard Bank – $2.2 billion (more than R39 billion) FNB – $1.7 billion (more than R30 billion) Absa – $1.5 billion (more than R28 billion) Checkers – $1.4 billion (more than R25 billion) Woolworths SA – $1.3 billion (R23 billion) Nedbank – $1.2 billion (more than R21 billion) Investec – $1.2 billion (more than R21 billion) Shoprite – $1.2 billion (more than R21 billion) ALSO READ: Where do you shop for jeans? Survey reveals Mr Price is SA's most loved store Checkers earns outstanding domestic brand 'Brand Finance research reveals that Checkers earns outstanding domestic brand perceptions across several brand strength metrics, including likeability, consideration and recommendation. 'Data also shows that Checkers outperforms leading global counterparts when compared to their respective home markets, including Walmart in the US, Coles in Australia and Marks & Spencer in the UK,' reads the report. The report also includes other South African brands which are believed to be fast-growing. One of the brands is Capitec bank, which held the 28th position in 2024, but now sits at 14th. It has doubled its brand value to $1.1 billion (more than R19 billion). The report also included Clicks, Pick n Pay, Mr Price, Outsurance and Dis-Chem. NOW READ: Capitec CEO tops banking pay charts — but how do staff salaries compare? A look at how SA's top five banks pay
