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IOL News
3 hours ago
- Health
- IOL News
Budget, not bubbles: make healthcare financial planning your Women's Month self‑care
This Women's Month, it's time to invest in your own healthcare financial plan, tailored meticulously to your specific needs and risks. Image: Tima Miroshnichenko /Pexels We spend so much of our lives juggling work, family, and the daily hustle that it's easy to forget one truth: our health is priceless. Yet the real question most of us dodge isn't just how we take care of our bodies but how we can afford to do so, especially as women. This Women's Month, it's time to get real about something we rarely talk about enough: healthcare financial planning. Because, as sad as it sounds, money and health go hand in hand, and for women, the stakes are even higher. According to Statistics South Africa, women typically live longer than men but often earn less over their lifetime. Add career breaks to raise kids or care for ageing parents, and the financial gap widens. 'Women face longer life expectancy combined with lower lifetime earnings, which makes healthcare costs an even bigger burden, especially later in life,' explains Martin Rimmer, CEO of Sirago Underwriting Managers. And when you look at South Africa's struggling public healthcare system, private healthcare isn't just nice to have, it's a lifeline. But it comes at a cost. Why women can't afford to ignore financial health Women are statistically more likely to face certain health challenges: breast, cervical and ovarian cancers, autoimmune diseases and musculoskeletal conditions, as well as cardiovascular disease. Treatment often means long periods off work, impacting income when expenses are highest. Rimmer notes, 'Gap cover claims data shows large hospital shortfalls averaging R40 000 - R60 000 amounts that could wipe out savings if you're not prepared.' It's essential to select a scheme that fits your health needs rather than opting for the cheapest option available. Image: cottonbro studio /pexels What does smart healthcare financial planning look like? 1. Choose the right medical scheme, not just the cheapest: Medical scheme membership isn't optional in today's environment. Work with an accredited healthcare broker to match benefits to your life stage, family history and health needs. Remember: a bargain isn't a bargain if it leaves you exposed when you need it most. 2. Gap cover: your financial shock absorber: Gap cover steps in when your medical aid pays less than what specialists charge, sometimes 300% more. Without it, you carry the difference, which could mean dipping into savings or going into debt. 3. Plan for crisis moments: Cancer, disability or critical illness doesn't just hurt physically; it can devastate your income. Consider income protection, critical illness cover or disability insurance. For stay-at-home mothers, think about the financial cost of replacing your caregiving role if illness strikes. 4. Prevention is powerful and often covered: Many medical schemes cover screenings like pap smears, mammograms and cholesterol tests. Don't skip them: early detection saves lives and money. The World Health Organisation confirms that preventive care can reduce long-term healthcare costs dramatically. 5. Reproductive and maternity cover: Planning a family? Pregnancy and delivery can be costly, and complications increase expenses. Ensure your plan covers prenatal care, delivery, hospital stays and newborn care. 6. Live for tomorrow, today: Small habits make a big difference: balanced meals, exercise, quitting smoking, limiting alcohol, managing stress and getting enough sleep. The South African Medical Journal notes lifestyle diseases like diabetes and hypertension are rising, and prevention is cheaper than treatment. 7. Don't overlook workplace benefits: If you have access to group medical aid or gap cover, use it; they often cost less due to collective rates. Make sure your personal and work benefits complement each other to avoid duplication or gaps. 8. Seek expert help: Healthcare planning can feel overwhelming. A qualified healthcare advisor helps you understand potential gaps, weigh affordability, and navigate complex products. Financial health vs men: why women need a different strategy Women's financial health challenges look different: Longer lifespan = more years of medical costs Lower average earnings and smaller pensions Career breaks that slow salary growth Higher risk of certain illnesses Greater likelihood of needing long-term care It's not about competing with men; it's about planning realistically for our lives. The importance of financial health Healthcare financial planning isn't just about numbers on a spreadsheet. It's about peace of mind knowing illness won't force impossible choices between treatment and family finances. Rimmer advises against letting financial constraints force you to choose between present necessities and long-term health stability. With planning and the right cover, you can protect your wellbeing and independence. This Women's Month, give yourself the gift that keeps giving: a healthcare financial plan built around your life, your risks and your goals. Because self-care isn't just spa days and smoothies, it's making sure you can afford to stay healthy, for yourself and those you love.
TimesLIVE
17 hours ago
- TimesLIVE
Ethiopian who tried to defraud Sassa fined R60,000
Ethiopian Etebo Lapso Wangore has been sentenced to a R60,000 fine or eight months' imprisonment after he was convicted of corruption linked to attempts to defraud the social grant system. The specialised commercial crimes court in Vryburg in the North West imposed the sentence on Wangore, 43, this week, the National Prosecuting Authority (NPA) said on Wednesday. Wangore entered South Africa as an asylum seeker and later established himself as a businessman operating several spaza shops in the North West. 'Investigations uncovered that he was part of a syndicate that included South African Social Security Agency (Sassa) employees involved in creating fraudulent Sassa beneficiaries, commonly referred to as ghost beneficiaries, defrauding the social grant system,' NPA spokesperson Sivenathu Gunya said. On November 15 2022, Wangore approached an agent at a post office and offered her R20,000 to arrange 250 Sassa cards. He further offered R1,000 per card as payment for each additional card she could supply. The official reported the matter to the police, leading to an entrapment operation, and Wangore was arrested on February 23 2023. He was later released on bail. Wangore pleaded guilty. In aggravation of sentence, state advocate Fhulufhelo Munyai emphasised the severity of the crime, explaining how such offences undermined the integrity of the country's social assistance system and negatively affected the economy. The court also ordered that his Toyota Hilux bakkie be forfeited to the state as it was used in the commission of the crime.
IOL News
a day ago
- Business
- IOL News
Revealed: MPs' interest-free loans and side business activities
EFF MP Eugene Mthethwa EFF MP Eugene Mthethwa disclosed R5,000 from a close friend and R10,000 from a comrade, among his gifts. The latest Register of Members' Interests for 2025 shows several Members of Parliament have disclosed receiving loans without interest from 'friends', family, and 'comrades', while others supplement their income by conducting consultancy work or have businesses. Image: Facebook Several Members of Parliament have disclosed receiving loans without interest from 'friends', family, and 'comrades', while others supplement their income by conducting consultancy work or have businesses in the taxi industry outside their parliamentary work. This emerged from the latest Register of Members' Interests for 2025 that was released recently. ActionSA MP Kgosi Letlape made a declaration for a 'loan-cash' from a friend. Similarly, ANC MP Cameron Dugmore declared interest-free loans from family and friends, while Deputy Minister for International Relations and Cooperation Tandi Moraka made a declaration of money from a friend under the benefits and interest-free loans section. 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 ANC MP and chairperson of the Justice and Constitutional Development Portfolio Committee, Xola Nqola, also made a declaration on a R30,000 loan from a friend. Their colleague, Christina Tlhong, made a declaration of R60,000 in cash from a private individual under section for gift and hospitality. MK Party's Lucky Montana, who has three properties, disclosed that he has a business loan from Thabo Owen Mokoena and benefits from Midtownbrace, an investment in a joint venture for property development. EFF MP Eugene Mthethwa disclosed, among his gifts, R5,000 from a close friend and R10,000 from a comrade. Former Finance minister and now MK Party MP Des van Rooysen made a declaration of loan from friends, while his colleague Thulani Gamede declared cash-interest-free and interest-free loans also from friends. ANC MP Stanley Mathabatha disclosed in his declaration income from the business of cattle, goats, and sheep, and ANC MP Christopher Malematja disclosed that he received income from transport services in the form of taxis. Minister in the Presidency Khumbudzo Ntshavheni declared that she is a director of Nkho Trading, which is a transport business in taxis and buses. Health Minister Aaron Motsoaledi said he was a director of Reatswelela Travel and Tours. Public Works and Infrastructure Deputy Minister Sihle Zikalala has other income from poultry and cattle. His colleague, Tshiamo Tsotetsi, declared income from the sale and purchase of goats and sheep. Tsotetsi also made a declaration of gifts of sheep from his uncle and R35,000 donations from private individuals for the Youth League programmes. ANC MP Mwelo Nonkonyana declared that he practises as an advocate of the high court and has received a sheep and blankets from family members valued at R5,000 and R100,000 cash from the Motsepe Foundation. Build One South Africa leader Mmusi Maimane disclosed that he resigned from Phangela Security, where he worked outside Parliament. Maimane made a declaration that he is a director of a partnership in five companies, including One South Africa Movement. DA MP Michael Bagraim has shares in 11 finance companies and does work for the law firm, Bagraim Attorney, outside his parliamentary work. Bagraim also receives other income from rentals and is a director in several companies involved in property development, wholesale, and consultancy, as well as a law firm. His colleague Joseph Britz does consultations on an ad hoc basis for Britz Attorneys, Conveyancer and Notary, and has shares in property development. DA MP Jan de Villiers declared that he has use of a free company-owned vehicle from Millstream Property Solutions, where he is a 100% director, and Wendy Alexander performs consultancy in business development outside parliamentary work. Women, Youth and People with Disabilities Deputy Minister Steve Letsike named remuneration outside parliamentary work as being vice-president and councillor for the South African Pharmacy Council. ANC MP and Health Portfolio Committee chairperson, Sibongiseni Dhlomo, disclosed that he does medical assessment reports for some lawyers pro bono as a way of gaining knowledge. 'This is during my spare time,' said Dhlomo.
IOL News
a day ago
- Business
- IOL News
New 'fixed' utility fees here to stay, says City
Some residents have reported deductions of up to R60 on electricity purchases of just R100. Image: File Picture: Danie van der Lith/African News Agency THE City has doubled down on its defence of the controversial fixed utility fees that residents say put further strain on already stretched budgets, with some reporting deductions of up to R60 on electricity purchases of just R100. City customers now pay a fixed monthly charge of R59.90 (excluding VAT), known as the "Services and Wires Charge." This amount, since July 1, is applied as a daily rate of R1.97. '(For domestic tariff customers) With each electricity purchase, customers pay for the number of days since the last purchase. Example: a customer buying electricity every 15 days will pay 15 x R1,97 = R29,55 in fixed charges (R59,90 for 30 days). Depending on the vendor, the fixed charge could be displayed as 'utility charge' or 'Service and wires charge' or fixed charge,' said City spokesperson, Luthando Tyhalibongo. Home use tariff customers are being billed a monthly fixed charge of R339,89 (VAT excl.). Public frustration over fixed utility fees began long before they took effect. During the 2025/26 Budget process, the public raised widespread objections warning that the charges would place an added burden on already struggling households. The South African Property Owners Association (SAPOA) has also taken the DA-led City to court, challenging the lawfulness of the fixed charges and the City's decision to link certain fixed utility charges to property values. The Cape Town Collective Ratepayers' Association (CTCRA) representing 56 ratepayer associations and civic organisations from across Cape Town is also supporting the application as Amicus Curiae. CTCRA interim chair, Bas Zuidberg said: 'Home owners, especially the Home user category, have seen quite a steep increase from R245 to R340 per month for this fixed charge. 'The CTCRA has received more complaints about the fixed water charge, which is no longer connected to the size of the CoCT connection but is now linked to property values. We have also received many complaints about the new sewage fixed charge and the city-wide cleaning charge, which are also linked to property values.' He said it was clear from the start that these charges were 'highly contentious'. 'More than 10 000 people signed a petition that CTCRA sent out to voice their objections. While CoCT did make a few changes these were not nearly enough to address the concerns. CTCRA is not against the imposition of fixed charges, but we believe linking them to property values is unlawful. Secondly we disagree with the city-wide cleaning charge, which we believe should be funded from the property rates. Thirdly the fixed charges should not be used as an additional revenue stream by CoCT, but they should (in conjunction with the variable charges) cover the actual maintenance cost for the infrastructure. CoCT has proven in the past (through the 'unregulated' portion of electricity consumption charges) not to adhere to this basic principle.' Civic organisation STOP COCT has also received complaints from residents after noticing the added fixed charges on their municipal bills from July 1, most being outraged and saying that they simply could not afford them. 'The impact on households of the two new fixed charges (sanitation and cleaning) and the increase of 38% in the electricity fixed charge is very negative. In most households these fixed charges now total from around R500 upwards. 'According to the arguments in the Sapoa court case against the City of Cape Town, some of these fixed charges are outside the framework of the law. I fully agree with this argument and believe that the way the City implemented these fixed charges as new revenue streams only benefits the City. Many people are currently joining STOP COCT giving the reason that they have had enough of the tariff increases and the fixed charges,' STOP COCT founder, Sandra Dickson said. However, the City maintained that the charges were a necessity. 'Tariffs include both a fixed charge and consumption charges. This means residents can save by consuming less, while still ensuring that all ratepayers contribute to Cape Town's infrastructure and fixed service costs. Fixed charges are common throughout South African municipalities and the world, and are a lawful means of ensuring sustainable infrastructure and service delivery. Following two rounds of meaningful public participation, the final revised budget not only protects households under R2,5 million as it was designed to do, but also expands relief to more homes including above this threshold as well,' Tyhalibongo said. 'Previously, all City-supplied customers made a contribution to city-wide cleaning services via the cost of electricity. Cleaning has now been removed from the electricity price. Customers therefore now pay less for electricity, and City-Wide Cleaning is now shown separately on the monthly bill under 'sundries'. It is not new City income but to cover existing costs beyond the refuse collection (under the refuse tariff for wheelie bins and dry recycling)." Cape Times
TimesLIVE
7 days ago
- Business
- TimesLIVE
Just one Gupta property finds a buyer at Saxonwold auction
Furniture from two of the houses was sold as a separate lot per property. The loose assets of house No 5 were sold to an in-person bidder for R100,000, while the furniture of house No 7 went for R60,000. The furniture for house No 3 was not sold. Park Village Auctions disposal manager Graham van Niekerk described the outcome as 'exactly what we expected'. He said despite house No 3's rundown condition, it had more redevelopment potential. 'You can see for yourself the scope to upgrade it or start from scratch. The other two are very unique and difficult properties,' said Van Niekerk. He attributed the lack of interest in houses No 5 and No 7 to several factors: high municipal valuations, poor structural condition, restrictive zoning (residential 1) and the stigma associated with the Gupta name. Outside the compound, a small group of people protested, demanding justice and accountability for the family's alleged role in state capture. 'This is not the first time we have protested,' said Li Gula, from the Organisation Undoing Tax Abuse (Outa) 'We want the Guptas to come back and account. The NPA is moving far too slowly. The Zondo commission cost taxpayers millions and yet justice still drags on.' Lazarus said the auction was part of an effort by business rescue practitioners to open the process to public scrutiny. 'There is a stigma around these properties, but the most important thing is transparency. Everyone had the same opportunity to bid,' he said. Lazarus acknowledged that properties No 5 and 7 were always going to be tough sells. 'They are in serious disrepair and need major investment to restore. The business rescue team will now explore alternative methods to dispose of them, including closed tenders.' The auction may not have cleared all assets but it opened a rare public window into what remains of the once-powerful family's South African empire now reduced to crumbling mansions and unresolved questions.
