Latest news with #R54
IOL News
4 days ago
- Business
- IOL News
Buy now or miss out: Johannesburg property market heats up
As interest rates decline, Johannesburg's property market is heating up, presenting a golden opportunity for buyers and investors. Don't get left behind—find out why experts are urging immediate action! Image: Karen Sandison / Independent Newspapers In a decisive move that could reshape the real estate landscape in Johannesburg, the South African Reserve Bank has cut interest rates by 25 basis points, bringing the home loan interest rate to an unprecedented low of 10.75%—the most favourable level since February 2023. This announcement has sparked urgent calls from property experts for prospective buyers and investors to act swiftly in this buoyant market. Denese Zaslansky, CEO of FIRZT Realty Group, emphasised the growing momentum in property demand since rates began to decline in September last year. 'We have witnessed a remarkable 38% surge in sales and an average price increase of 6% over the past six months,' she noted, pointing out that desirable locations in Johannesburg are already seeing diminishing stock levels. The implications of today's rate cut are significant for both first-time buyers and seasoned investors. Given that the current average home price in the city is approximately R1.6 million, qualifying for a home loan currently requires a gross monthly income of about R54,200. This figure is R3,600 less than it was this time last year, offering a golden opportunity for many who may have previously felt locked out of the market. Zaslansky warns, however, that time is of the essence. 'If property prices rise by just 5% in the next year, prospective buyers will face higher monthly bond repayments and will need to increase their monthly income by R2,700 to qualify for a home loan, should interest rates remain stable. This will erode the advantages gained from the recent rate cuts,' she cautioned. Today's interest rate decline comes in response to inflation metrics consistently lingering below the Reserve Bank's target range of 3% to 6%. With inflation reported at 2.8% in April, and economic growth failing to gain real traction, the decision reflects a broader shift aimed at boosting consumer confidence and justifying spending amid turbulent market conditions. 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 ✕ Ad loading According to Zaslansky, a turnaround is imminent. 'We are highly optimistic that we will see rapid advancements in the property market as demand escalates. The number of new developments sprouting across Johannesburg is a clear indicator of rising investment in property, stimulating both job creation and overall economic growth in the region.' With the property market in Johannesburg offering rare opportunities for savvy buyers, Zaslansky's message is clear: the time to act is now. Ignoring this window may mean relinquishing the chance to secure a home at today's favourable rates and prices—an opportunity that may not last long as the market continues to evolve. BUSINESS REPORT
The Citizen
17-05-2025
- Business
- The Citizen
Lotto and Lotto Plus results: Saturday, 17 May 2025
R54 million in jackpots is up for grabs. Here are your Lotto and Lotto Plus results for 17 May 2025. Get the Lotto and Lotto Plus results as soon as they are drawn on The Citizen, so you can rest easy and check your tickets with confidence. Lotto: R44 million Lotto Plus 1: R7 million Lotto Plus 2: R3 million Here are the winning Lotto results for Saturday, 17 May 2025: While great care has been taken to ensure accuracy, The Citizen cannot take responsibility for any error in the Lotto or Lotto Plus results. We suggest verifying the numbers on the National Lottery website. The winning Lotto numbers will appear below after the draw. Usually within 10 minutes of the draw. You might need to refresh the page to see the updated results. Lotto: TBA Bonus: TBA Lotto Plus 1: TBA Bonus: TBA Lotto Plus 2: TBA Bonus: TBA For more details and to verify the Lotto results, visit the National Lottery website. When do South African national Lottery ticket sales close? Lottery outlets close at 8.30pm on the day of a draw, which happens at 9pm. The terms and conditions may differ from other service outlets. Visit for more information. You can find the historical winning numbers for PowerBall and Lotto draws here. How much does it cost to play Lotto? Lotto entries cost R5 per board including VAT. Lotto Plus costs an additional R2.50 per board. You can also play PowerBall on selected banking apps (T's & C's apply). Visit and go to the How to Play section to find out more.
Daily Maverick
16-05-2025
- General
- Daily Maverick
Avocados are here: The ultimate stuffed avo recipe
South Africa's avocado peak season runs until November, bringing ripe, affordable fruit back to grocery shelves after months of shortages and high prices. I explored the season's bounty with avo boats featuring soft fried eggs and toasted chickpeas. It's peak season for avocados in South Africa, which is set to run until November (the latest). This means farmers are ready to harvest avocados and supply them to retailers. So, grocery store shelves are brimming with ripe and ready-to-eat avocados, the price of which has reduced because their supply has improved. January and February were off-season months, with many retailers facing avocado shortages. And because of the shortages, the prices of avocados were inflated. Society has a love-hate relationship with avocados. People who hate avocados often say they are bland and grassy. In a recent conversation with an anti-avo friend, he described the fruit (yes, avocado is considered a fruit) as 'like lukewarm butter and freshly mowed grass'. He went on to say that avocado 'tastes like nothing'. I was offended as I am part of the pro-avocado camp. Beyond their exceptional nutritional benefits (they pack healthy fats), I love avocados for their creamy texture and mild flavour. They take on a variety of spices so well. Avocados are versatile in dishes, and can be used in salads, sandwiches, smoothies, and spreads. The only downside is that avocados spoil quickly, making them inconvenient for people who dislike food waste or the unpredictability of ripeness. It doesn't help that I live alone and often cook for one. Going through a pack of ripe avocados takes a while. Whether you hate or love avocados, you cannot deny that they are popular and increasingly considered a household staple. The South African Avocado Growers' Association (Saaga), an industry body representing avocado growers, is the authoritative source of information on consumption patterns for the fruit. According to research from Saaga, a significant portion of South African consumers prefer ripe and ready-to-eat avocados and are willing to pay a premium for this convenience. In recent consumer surveys (circa 2021), 68% of South African respondents reported having avocados on their shopping list when buying fruit and vegetables, indicating a strong planned purchase behaviour rather than impulse buying. Additionally, 71% of respondents considered avocados affordable, showing a broad acceptance of price points for quality and convenience. However, I think there needs to be a proviso when it comes to the affordability of avocados. I religiously purchase avocados during the peak season. During this season, a ripe and ready pack of avocados usually retails for R54,99. However, during off-season months, the cost could easily be close to R100. I bought avocados, taking advantage of the seasonal affordability. Over the next few weeks, I will make recipes that include the fruit as the main ingredient. I took some inspiration from Saaga, as the industry body has plenty of avocado recipes posted on its website. I will be tweaking Saaga's recipes to make them my own. On the menu this week are avo boats with soft fried eggs and toasted chickpeas. The original Saaga's recipe uses baked beans that I swapped for chickpeas. The original recipe also contains scrambled eggs, but my version has soft fried eggs. I also added feta cheese and spinach. Ray's stuffed avocado boats with soft fried eggs Ingredients 1 avocado, halved and peeled Olive oil or your preferred cooking oil for frying 2 eggs Salt and pepper 1 avocado, halved and peeled Can of chickpeas 1 tsp mixed herbs 1 tsp chilli flakes Block of feta cheese A few spinach leaves (optional) Method To toast chickpeas: Drain and dry the chickpeas thoroughly using paper towels or a clean kitchen towel to remove excess moisture. This is crucial for getting them crispy. Heat a frying pan over medium to high heat and add about 1-2 tablespoons of olive oil or your preferred cooking oil. Add chickpeas and continue cooking and shaking/stirring every few minutes for about 8-12 minutes, or until the chickpeas are golden brown and crispy on the outside. Season the toasted chickpeas with salt, pepper, chilli flakes, and mixed herbs. Set aside to cool. To fry eggs with a soft, runny yolk: Heat a nonstick pan over medium heat and add 1 teaspoon of oil. Crack two eggs into the pan. Cook undisturbed for about 3 minutes until the whites are set but the yolk remains runny. Take off the heat. Stuffing avocados:
IOL News
13-05-2025
- Business
- IOL News
eThekwini Municipality aims for grant from National Treasury to improve water services
eThekwini Municipality deputy head of engineering and data services Simon Scruton. Image: X / Consulting Engineers South Africa The eThekwini Municipality is confident that they will meet the requirements, by next month, to qualify for a R476 million from the National Treasury (NT) to improve water services in the Metro. The NT grant is dispersing R54 billion over 6 years to improve trading services in municipalities. Ethekwini stands in line to receive R476 million for 2025/ 2026 while Johannesburg will receive R561 million and Cape Town R479 million. However, these provisional allocations will be confirmed based on independent assessments of metros meeting the performance targets in their approved performance action plans. The release of the grant funding is expected in September this year. To qualify there are 30 performance indicators, including 8 minimum commitments for the Performance Improvement Action Plan (PIAP). The last step is for the eThekwini Council to adopt the eight minimum commitments before the end of June, said Simon Scruton, the eThekwini Municipality deputy head of engineering and data services. He was updating the eThekwini Executive Committee (Exco) on Tuesday on the City's commitments under the NT metro trading services program. The eight minimum access conditions are: delegations organisational structure trading service leadership Service compact financial transparency budget business and investment planning change management capacity Scruton said trading services were in distress around the country and that National Treasury launched an incentive based reform programme which amounts to R54 billion over 6 years. 'It is not a silver bullet but will transition the units into sustainable efficient ones providing the desired level of services," he said. Scruton said that the Ethekwini Water Services (EWS) completed 3 of the 4 steps towards meeting the requirements. "Trading services are large, infrastructure-intensive operations which need to be managed in an integrated business approach,' Scruton said. 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 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. Next Stay Close ✕ Challenges Scruton said a structural problem contributes to a split in accountability, contributes to lack of financial transparency and results in a lack of management accountability. He said that governance failures contribute to loss of management skills and inefficiencies and leakages 'There are low cash revenues because of governance failures and structural problems. Low investment, due to inappropriate allocation of available grants and inefficient expenditure and the inability to raise loan finance,' Scruton said. Scruton said business turnarounds are needed in almost all municipalities to stop the decline and improve services and there are five conditions that are needed to achieve and sustain business turnarounds: 'There needs to be a single point of management and accountability, turnaround in cash revenue, a financial surplus and defined relations between service and city and a fit for purpose organisational structure,' Scruton said. The grant is meant to improve the performance, efficiency, reliability and financial sustainability of water and sanitation. Scruton said that the eThekwini Council approved a Turnaround Strategy (TAS) in April 2023 to improve the efficiency of the Unit. The TAS addresses 13 key areas of the water business over the short and medium term. A cornerstone of the strategy is to improve the financial position of EWS as this will enable the improved maintenance and replacement of assets. The non-revenue water (NRW) target for the next 3 years is to lower the NRW from 58% to 45%. Themba Mvubu, EFF Exco member, said it was important that councillors conduct follow-ups and play a crucial role in oversight so that the unit does not 'drop the ball". 'The unit must not disappoint us in terms of not being able to spend this money. This is a very important process with the National Treasury so that we can turn the corner and make progress,' he said. Nkosenhle Madlala, ANC Exco member, commended the team for working around the clock to ensure the municipality was compliant with the guidelines. 'In every executive meeting we should have the issue of water as a standing item. We must not miss the opportunity come June. We fully support this plan as most of the councillors have seen first hand the water crises in our constituencies," he said. Ethekwini Mayor Cyril Xaba said that the municipality's water department is getting closer to a single point of management and accountability and that they were moving in the right direction. 'The structure of the unit needs to be discussed. They need to appoint competent people to the positions,' Xaba said.
TimesLIVE
05-05-2025
- Automotive
- TimesLIVE
Bolt drivers offered discounted dashcam app to improve safety
Ehailing company Bolt is offering drivers access to a dashboard camera app to help improve their safety. The app, in partnership with technology provider Driver Technologies, allows drivers to turn their mobile phones into a forward-facing exterior and driver-facing interior dash camera, with videos backed up in the cloud. Bolt is offering its 'driver partners' a free month of the dashcam app, followed by a 75% discounted rate for R54,99 per month. The app works in the background of other apps, showing picture-in-picture, so the driver knows they are recording, which will not affect the functionality of the Bolt app. It allows unlimited trip storage, access and sharing capabilities of dashcam footage via the driver cloud. Lerato Motsoeneng, senior GM for Bolt South Africa, said: 'Driver partners regularly tell us a dashcam can provide them with additional security and peace of mind. However, buying a device that meets their requirements can be expensive, with drivers citing the cost as the main obstacle to getting one. By providing discounted access to premium dashcam functionality, our partnership with Driver Technologies ensures they can access the tools they need to create safer environments for themselves and their passengers at a discounted rate.' With the scheme, Bolt aims to help reduce safety incidents and support driver partners with evidence for customer support and the police. This can also be useful in insurance claims in case of accidents as the interior and exterior of the car will be recorded. Driver Technologies will provide Bolt drivers with IT support, as well as data handling and processing support. This is the latest in safety initiatives by Bolt in South Africa, which include rider verification, pickup codes and trusted contacts.
