Latest news with #R68
IOL News
27-07-2025
- Politics
- IOL News
Investigation reveals National Police Commissioner Masemola's questionable financial dealings
An investigation reveals that National Police Commissioner Fannie Masemola lives beyond his means. Image: Picture: Siyabulela Duda/GCIS Following allegations that a warrant of arrest was issued against the police national commissioner, Fannie Masemola, it has been established that the country's police boss is living beyond his means. During his media briefing on Thursday, EFF leader Julius Malema revealed that Masemola would be arrested for conspiring with Lieutenant-General Dumisani Khumalo, who was recently arrested for corruption and fraud. An investigation revealed that Masemola spends more than he earns. Masemola, who allegedly received kickbacks related to intelligence property deals, has the monthly installments of R68,388.00 while he earns R58,052.11. His monthly salary is R129,996.87 and his deductions amount to R71,914.76. This is according to an investigation by the founder of Forensics for Justice, Paul O'Sullivan, who also found that Masemola owns five properties. 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 He owns one in Bloemfontein, two in Pretoria and the other two in Pietermaritzburg, KwaZulu-Natal. The property in Bloemfontein is worth R380,000 and was purchased in 2016. The properties in Pretoria are valued at R165,000 and R1,500,000, respectively. The other one was purchased in 1996 and the other one in 2011. The properties in Pietermaritzburg were bought in 2002 and 2005. The other one is valued at R153,000 and the other one is R445,000. The investigation also revealed that in 2019, Masemola took a personal loan amounting to R200,000.00 from Nedbank and was repaid within seven months. Records indicate that in order to pay off that loan, he took another loan in the amount of R238,000.00. 'Back-to-back loans are generally seen as Red Flags. Subject (Masemola) is shown as being currently 9 months in arrears in revolving credit with Standard Bank. Enquiries should be made with the accounting services of the police to ascertain what debt has been incurred between the government and the subject, which results in substantial deductions from the subject's salary each month,' read the report. Masemola did not respond to calls and messages regarding comments on the allegations. National police spokesperson, Athlenda Mathe, said she cannot comment on Masemola's private affairs and his monthly expenditure. 'But it's a norm that every year, all government officials disclose their assets and other financial interests through the Department of Public Service and Administration (DPSA) financial disclosure system,' she said. DPSA spokesperson Moses Mushi said the financial disclosures made in terms of the Public Administration Management Act, 2014, by the National Commissioner: SAPS, fall within the category of a record held by a public body to which access could only be obtained in terms of PAIA, and in the absence of such a request in terms of PAIA, the sharing of such information will be contrary to the provisions of PAIA. O'Sullivan said he even warned President Cyril Ramaphosa not to appoint Masemola as the national commissioner, saying he was unfit to hold the position. Masemola was appointed in March 2022. O'Sullivan said Masemola's appointment brought the country backwards to a point where he rendered the police service useless. He previously alleged that Masemola and Khumalo received kickbacks from the property deals, which include a boutique hotel in Pretoria North, reportedly purchased for R22.7-million, and a commercial building in Durban, KwaZulu-Natal, valued at R22.8-million. Malema, on Thursday, said the recent briefing held by KZN police commissioner, Lieutenant-General Nhlanhla Mkhwanazi, who blew the whistle about infiltration within law enforcement, caused the postponement of Masemola's alleged arrest. He also alluded to political interference in relation to this matter. 'I do not know why he is not being picked up. It means someone somewhere is playing politics, and they want to undermine, once more, the independence of our justice system,' Malema said. 'Masemola is being arrested for what he did with Khumalo in crime intelligence. He was supposed to be arrested that week when Mkhwanazi had a press conference. 'So, I thought that Mkhwanazi's briefing was a pre-emptive strategy, and perhaps the arrest of Masemola is delayed by that,' Malema said. However, Mathe said the SAPS was not aware of any warrant of arrest against Masemola, adding that questions should be directed to Malema. 'He may be in a better position to respond with more information,' she said. KZN police spokesperson, Robert Netshiunda, said Mkhwanazi is not responding to any issues pertaining to his press conference or related matters. O'Sullivan, who previously also called for the suspension of both Masemola and Mkhanazi, said he was of the opinion that if there could be a warrant of arrest, it should be for both Masemola and Mkhwanazi, adding that they have both been engaged for a considerable time, in criminal activities, and actively support criminals themselves, to wit, the Five Generals and Two Brigadiers, that should have been dismissed already, but are continuing to commit crime whilst in the police.
IOL News
20-07-2025
- Business
- IOL News
Gauteng allocates R68 billion for transformative education in 2025/26
MEC Matome Chiloane outlines Gauteng's R68 billion education budget at Jeppe Girls High School, emphasizing transformation, safety, and skills for the future. Image: Timothy Bernard / Independent Newspapers The Gauteng Department of Education (GDE) has tabled a bold and transformative education budget of R68 billion for the 2025/26 financial year, reflecting a clear commitment to building an inclusive, skilled and future-ready generation. Education MEC Matome Chiloane unveiled the budget during a sitting of the Gauteng Provincial Legislature on July 17, 2024, with further public briefing at Jeppe Girls High School on July 20, 2025. MEC Chiloane says this R68 billion allocation reflects our dedication to building a generation of skilled, confident, and capable learners who will drive South Africa's economic growth and social transformation. The budget represents a 4.9% increase from the previous year's R64.8 billion and is underpinned by a Strategic Framework for Educational Excellence focused on four key pillars. Strategy 1, Early Childhood Development R734 million has been allocated to universalize Grade R, expand access to ECD programmes, and train practitioners to NQF Level 6. Chiloane highlighted the story of Sis Nomsa, who transformed her informal ECD initiative in Lawley Extension 2 into a fully registered and compliant centre through GDE support. 'Her centre now stands as a beacon of hope and proof that even in informal settlements like Kokotela, hope can flourish, and quality learning can begin from birth." Strategy 2, Promote Quality Education Receives R2.2 billion, funding interventions in literacy, STEM, and technical skills. Notable success stories include Lufhereng Secondary School, which achieved a 100% pass rate with 97% Bachelor passes, and Raymond Mhlaba Secondary School, a model of township excellence. MEC Chiloane also praised Gauteng's top learner, Musawenkosi Buthelezi from Zimisele Secondary School, who obtained the highest subject scores in the province. 'Quality education is not a privilege of location, but a right we are delivering to every learner." 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 ✕ Strategy 3, Changing the Educational Landscape The largest slice, R3.9 billion, is for Strategy 3, Changing the Educational Landscape. This strategy focuses on Multi-Certification Skills Programmes (MCSP), which provide learners with certifications in coding, robotics, AI, firefighting, first aid and more. Chiloane further celebrated learners from Katlehong School of Specialisation, who are currently job shadowing at Hyundai, Kia, and Mercedes-Benz, and applauded the Soshanguve SOS team for winning an award in Ethiopia with their electric car project. Strategy 4, Create Safe Schools With an allocation of R2.9 billion, supports school safety, nutrition, health programmes and transport for over 228,000 learners. The MEC commended the principals of Qalabotsha and Tshepo ya Rona Secondary Schools for their gratitude following security deployments and paid tribute to Mr Noko Selepe, the principal of Primrose Primary School, who returned to work after being shot by a learner. With 2.83 million learners, 3,317 institutions, and over 104,000 educators, Gauteng's education system is showing strong results, an 88.41% matric pass rate, 50.27% bachelor passes, and all districts maintaining pass rates above 80%. 'We are not just funding education; we are investing in transformation. We are not just building schools; we are building dreams. We are not just teaching subjects; we are developing citizens who will lead our province and nation into a prosperous future,' Chiloane said. IOL News
IOL News
17-07-2025
- Business
- IOL News
Swatch profits plunge on weak China sales
Swatch Group said on Thursday that weak sales in China wiped out growth elsewhere. Image: File Swatch Group said on Thursday that weak sales in China wiped out growth elsewhere in the first half of the year for the world's top watch company, leaving it barely profitable. Net sales fell 11.2% to Sf3.1 billion (R68 billion), while net profit plunged 88% to Sf17 million. "The decline in sales is exclusively attributable to China," the company said, adding that sales in other regions reached record levels set in 2023 and 2024. "As feared, another half-year with a lot of sand in the gears", said Patrik Schwendimann, analyst at the Zurich Kantonalbank, in a market commentary. Shares in the group were nonetheless trading up 0.8% at Sf138.25 late morning as the Swiss Performance Index added 0.7%t. Besides its eponymous Swatch watches, the company owns high-end brands such as Omega, Longines and Tissot, and like other luxury firms the demand of Chinese consumers for Western goods has made it a top market. 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 But Swatch said the region's share in total sales have fallen from a third to just under a quarter as China's economy has struggled, with a real estate crisis hampering consumption by many households. Sales to Chinese wholesalers fell by 30% during the first half of the year and were down by 15% in Swatch's retail stores. Sagging consumer demand in Hong Kong, Macao and Southeast Asia also had a negative effect, the firm added. But Swatch said it has seen the first signs of improvement in China and expects an improved market environment in the second half of the year. Meanwhile, first half sales growth reached double digits in North America, India, Turkey, Middle East and Australia. "The US, Japan and India continue to have great growth potential," it said, adding it expects utilisation of its production capacity to rise in the second half of the year thanks to new product launches. AFP
The Citizen
05-07-2025
- Business
- The Citizen
Limpopo mayor threatens construction mafia after stalled projects
Maila said the 'construction mafia' was costing the South African government and construction industry millions of rands through disruptions and extortion. Disruptions and blockages of construction sites by the so-called construction mafias cost the South African economy more than R68 billion before the Covid-19 pandemic. This was revealed by the mayor of the Fetakgomo Tubatse Local Municipality, Eddy Shebeshebe Maila, on Thursday. Maila was speaking during the handover of two service providers for an 8km road construction project in Praktiseer Township, outside the mining-rich town of Burgersfort in Limpopo. The handover was held at a glittering ceremony at Madikiloshe Malepe Sports Ground on Thursday, with more than 1 000 people waiting with anticipation to get jobs at the project. Mafia costing construction industry millions Maila said the 'construction mafia' was costing the South African government and construction industry millions of rands through disruptions and extortion. These criminal syndicates, he said, disrupt projects, demand a percentage of the contract value, and resort to violence and sabotage, hindering the delivery of South African infrastructure. 'But I can assure you, these crooks have no place to operate their business in my municipality. 'I know your modus operandi, and I am watching you like a hawk. Here is not a playground. It is either you cooperate or you go straight behind bars in jail, where you belong,' Maila told the jovial crowd that clapped hands each time he spoke. No mafias, but projects stalled According to the mayor, several projects in Limpopo have stalled due to construction mafias that have halted them, either by fair means or foul. 'We are going to appoint a project steering committee and two community liaison officers for these projects. These are the people that are going to work hand in glove with the ward councillors, the engineers and our contractors' 'Community business forums are welcome, but they must know their boundaries. Their job is not to hijack this project. 'It serves as a mediator between the business community and the municipality. They must, therefore, not interfere with the day-to-day running of this project. 'If they dare try me, they will rue the day we crossed paths,' promised Maila. ALSO READ: Suspected construction mafia extortionists arrested in Joburg CBD Gender disparity Maila also urged councillors and contractors of the project to consider gender parity when employing people. 'In South Africa, women make up just more than 10% of the construction workforce, a statistic that is mirrored in many other countries around the world. 'This disparity is often attributed to a lack of access to education and training opportunities, and a persistent cultural bias that views construction as a 'man's job',' said Maila. Maila said his municipality will monitor the recruitment processes at the project from inception and ensure local women with the necessary skills and documentation are given a stake in sub-contracting. 'They have the skills and the qualifications to show. We must not brush them aside. We must make sure they are employed on a 50/50 basis. 'The writing is on the wall; when we employ women, we feed the nation. That is why women should be taken seriously, and that is why we should allow them to take leadership positions in the workplace and in business,' Maila told the contractors. Residents speak out The Citizen spoke to a few residents at the meeting after Maila's address. 'We are happy that under his tutelage, women are taken seriously. We have been brushed aside before, and are saying enough is enough. 'We also want to play leadership roles in the construction business. Construction work has long been stereotypically associated with a male-dominated space, but now things are changing. 'We are 50/50,' resident Francinah Mohale said. Collen Nkoana said the community was ready to help the mayor fight construction mafias. 'Working hand in glove with the police, we can not go wrong. 'We are going to fight with everything we have until the last drop of our blood to make sure that this project gets up to its practical completion in a 12-month record time.' NOW READ: 'Construction mafia' are genuine guys
IOL News
04-06-2025
- Business
- IOL News
Third time's the charm: Godongwana's 2025 budget finally approved
Minister of Finance, Enoch Godongwana's 2025 National Budget has finally been approved following the adoption of the fiscal framework that is the backbone of the budget. Image: Independent Newspapers Minister of Finance, Enoch Godongwana's 2025 National Budget has finally been approved following the adoption of the fiscal framework that is the backbone of the budget. This was Godongwana's third attempt to get the National Budget passed after an outcry over two proposals to increase VAT. During a joint meeting with Standing Committee on Finance, and the Select Committee on Finance, Members of Parliament adopted the document that establishes economic policy and revenue projections and sets the overall limits for government spending. The process, which took three hours on Wednesday, was not without its issues, with some members arguing that the process was flawed and that not everyone was able to make their voice heard. Insults also flew, with one member saying that her peers should 'learn to read'. In presenting the May 21 National Budget, Godongwana said there were no austerity measures, although government spending was held back. The fuel levy as well as sin taxes were increased. The budget invests over R1 trillion in critical infrastructure to lift economic growth prospects and improve access to basic services, Godongwana said on May 21. He added that this would be done without compromising the fiscal strategy of sustainable public finances. 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 Government has achieved its balancing act by reducing additional spending over the medium term by R68 bilion after facing a R75bn revenue hole as VAT was not being increased. In May, Godongwana added that the government would continue to pay large amounts to service debt, which would amount to more than R1.3 trillion over the next three years. 'Put differently, this means in 2025/26 alone we are spending around R1.2bn per day to service our debt,' he said. IOL
