Latest news with #R7.4
The Citizen
16-05-2025
- Business
- The Citizen
Tshwane's R54.6bn budget draws mixed reactions
Tshwane deputy mayor Eugene Modise's 2025-26 budget promises no new borrowing and a fully funded plan. There has been mixed reaction to the City of Tshwane's budget for the 2025- 26 financial year. Deputy mayor and MMC of finance, Eugene Modise, delivered the budget for the 2025-26 financial year which he said National Treasury had endorsed as credible and fully funded. Modise described the budget as a turning point and said the draft included an allocation for the capital budget of R2.4 billion and an operational budget of R52.2 billion. 'Fully funded without borrowing' His budget also included a total of R7.4 billion grant allocations for operational grants and capital infrastructure through the newly introduced Urban Development Financing Grant. 'It is important to note that this budget has been fully funded without borrowing. While no borrowing is planned for the 2025-26 financial year, this may be reconsidered in future, subject to the city's financial recovery and improved credit rating,' he said. Modise's proposed tariff adjustments include electricity tariffs to rise by 10.1%, below the 11.32% bulk tariff increase from Eskom, while water charges will increase by 13%, lower than Rand Water's 15.13% hike. ALSO READ: Here is how Tshwane will be spending its R54.6 billion budget Sanitation tariffs will increase by 6%, followed by waste removal tariffs which will rise by 4.6%. 'Nothing new' Republican Conference of Tshwane councillor Lex Middelberg didn't believe Modise's claim that Treasury had endorsed the budget. 'Treasury doesn't endorse budgets. The budgets do not make allocations for the release of R29 billion on creditors that have heaped up from previous years. Middelberg said the budget as a whole was an adjusted version of budgets of previous financial years. 'There's nothing new in there, the spending patterns in the city do not change. Same old, same old,' he said. Praise from ActionSA Action SA leader Herman Mashaba welcomed the tabling of the first fully funded budget since 2022, led by one of his own, Nasiphi Moya. He also welcomed the R780 million allocated to economic development and spatial planning, saying it aligned with the city's economic revitalisation strategy, which aims to attract over R17 billion in investment and create 80 000 jobs. ALSO READ: The state of the capital: Three major problems Tshwane promises to fix 'ActionSA believes this budget acknowledges the severe infrastructure challenges inherited from years of chronic mismanagement and underfunding, which brought the city to the brink of collapse and represents a commendable turning point through targeted investment.' Mashaba said the party was proud of the City of Tshwane's remarkable progress in achieving the goals set out in its turnaround strategy. DA rejects budget DA Tshwane spokesperson for finance Jacqui Uys said her party would not support the new budget. Uys said the budget put the responsibility of financial rescue instability onto residents, treating them like cash cows. 'The DA maintains that the city must increase the section of property value not included in rates and taxes to R450 0o0 to bring relief to your pockets. Instead of assisting poor households who cannot afford almost R500 per month for waste removal, the ANC-led City of Tshwane has opted to introduce a punitive tax of almost R200 on these households if they choose not to use the city's services,' she said. NOW READ: City of Tshwane says overtime cap won't stall emergency services
IOL News
02-05-2025
- Business
- IOL News
Jobs Fund launches new funding round to boost employment in green and informal economies
As unemployment rates soar, particularly among the youth and women, this initiative represents a concerted effort to stimulate job creation and foster inclusive economic growth. The Jobs Fund has announced a new funding round aimed at tackling the pressing employment challenges facing South Africa's green and informal economies. As unemployment rates soar, particularly among the youth and women, this initiative represents a concerted effort to stimulate job creation and foster inclusive economic growth. According to the National Treasury, the Jobs Fund has made significant strides in transforming the labour landscape since its inception, disbursing R7.4 billion to various partners. Treasury on Wednesday said the previous funding rounds resulted in the creation of more than 210 000 permanent jobs, alongside 114 534 short-term positions and internships. The support extended to more than 63 000 small, medium, and micro-sized enterprises (SMMEs) and approximately 16 000 emerging farmers speaks volumes of the Fund's commitment to economic upliftment. With a keen focus on innovative, scalable solutions, the funding round targets two vital sectors: Green Economy: This includes initiatives in renewable energy, energy efficiency, sustainable agriculture, agri-tech, green mobility, as well as waste and water management. This includes initiatives in renewable energy, energy efficiency, sustainable agriculture, agri-tech, green mobility, as well as waste and water management. Informal Economy: This encompasses street vending, small retail and manufacturing, and care and repair work. Treasury said eligible proposals must seek to address crucial barriers in the labour market, such as technology access, enabling infrastructure, regulatory challenges, and poor working conditions. The Jobs Fund encourages applications that are not only implementable and scalable but also have a measurable impact on job creation. Key details of the funding round reveal that the minimum grant amount is set at R5 million, with matched funding structured as 1:1 for private or public sector partners and 1:0.5 for not-for-profit entities. Sustainability is a core focus; thus, proposals must demonstrate long-term financial and operational viability. Treasury said interested applicants can submit their proposals via the online application form, with the deadline for submissions set for 5 June 2025 at 3pm. Late submissions will not be accepted, highlighting the need for diligent planning among potential applicants. For further information, including access to the Term Sheet for this funding round, answers to frequently asked questions, links to the online application form, and details about briefing and training sessions, interested parties are encouraged to visit the Jobs Fund's official portal. BUSINESS REPORT
The South African
01-05-2025
- The South African
South African train ranks fourth among world's best luxury rail trips
The Rovos trail train. Image: Instagram via @rovosrail The global luxury travel market is steaming ahead, set to reach a jaw-dropping R7.4 trillion by 2028. But the days of luxury being defined by gold taps and marble lobbies are fading fast and being replaced by trains. Today's elite travellers crave something different: cultural immersion, adventure, and sustainability now trump old-school opulence. This shift has fuelled a renaissance in slow travel, with luxury train journeys taking centre stage. A recent study by Japan Rail Pass has crunched the numbers-TripAdvisor reviews, Instagram hashtags, and global search volumes-to reveal the world's most sought-after luxury train rides for 2025. The verdict? The Rocky Mountaineer, based in Vancouver, Canada, claims the crown as the world's best luxury train experience, scoring an impressive 8.88 out of 10. South Africa's own Rovos Rail is hot on its heels, ranked fourth globally with a score of 8.55 out of 10. Let's take a whistle-stop tour through the top contenders: Rocky Mountaineer (Vancouver, Canada) This train is a feast for the senses. Think panoramic glass-domed coaches, gourmet cuisine, and jaw-dropping views of the Canadian Rockies. 'We want our guests to feel like they're part of the landscape, not just passing through it,' says a Rocky Mountaineer spokesperson. With over 60,000 Instagram hashtags and 48,000 monthly searches, it's clear this ride is on everyone's bucket list. This train is a feast for the senses. Think panoramic glass-domed coaches, gourmet cuisine, and jaw-dropping views of the Canadian Rockies. 'We want our guests to feel like they're part of the landscape, not just passing through it,' says a Rocky Mountaineer spokesperson. With over 60,000 Instagram hashtags and 48,000 monthly searches, it's clear this ride is on everyone's bucket list. Napa Valley Wine Train (California, USA) Second place goes to this vintage charmer, gliding through California's wine country. Passengers sip and savour as vineyards roll by. It's no wonder the train boasts a 4.5-star TripAdvisor rating and nearly 30,000 monthly searches. Second place goes to this vintage charmer, gliding through California's wine country. Passengers sip and savour as vineyards roll by. It's no wonder the train boasts a 4.5-star TripAdvisor rating and nearly 30,000 monthly searches. GoldenPass Express (Montreux, Switzerland) In third, the GoldenPass Express offers a front-row seat to Switzerland's lakes and mountains. Its panoramic windows turn every journey into a moving postcard. In third, the GoldenPass Express offers a front-row seat to Switzerland's lakes and mountains. Its panoramic windows turn every journey into a moving postcard. Rovos Rail (Pretoria, South Africa) South Africa's pride, Rovos Rail, is a rolling five-star hotel. With wood-panelled charm, fine dining, and routes that showcase our country's dramatic landscapes. It's a must for anyone seeking 'the most luxurious train journey in the world.' Over 13,700 Instagram hashtags and 17,000 monthly searches prove its global appeal. 'It's about more than travel-it's about reliving a golden era of rail in modern comfort,' says a Rovos Rail representative. South Africa's pride, Rovos Rail, is a rolling five-star hotel. With wood-panelled charm, fine dining, and routes that showcase our country's dramatic landscapes. It's a must for anyone seeking 'the most luxurious train journey in the world.' Over 13,700 Instagram hashtags and 17,000 monthly searches prove its global appeal. 'It's about more than travel-it's about reliving a golden era of rail in modern comfort,' says a Rovos Rail representative. The Ghan (Adelaide, Australia) Rounding out the top five, The Ghan slices through Australia's wild heart, from Adelaide to Darwin, according to Railbookers Group . Why the surge in luxury rail? Haroun Khan, founder of JR Pass, explains: 'We've seen a clear shift in demand toward these kinds of journeys, not just as transport, but as destinations in themselves. Sightseeing and experiential travel are now key motivators.' For South Africans, there's pride in knowing Rovos Rail ranks among the world's best. And with the luxury travel market booming, there's never been a better time to book that bucket-list journey. Whether it's across the Rockies, through the vineyards of Napa, or right here at home, from Pretoria to Cape Town. All aboard for a new era of luxury-where the journey is the destination, and the world's most beautiful landscapes unfold outside your window. 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.
