Latest news with #R7.9
IOL News
3 days ago
- Business
- IOL News
MultiChoice expects improved earnings despite tough trading conditions
MultiChoice, South Africa's leading pay-TV operator, has warned shareholders of a significant shift in its financial performance for the fiscal year ended March 31, 2025, driven by challenging macro-economic conditions and structural changes in the video entertainment industry across sub-Saharan Africa. MultiChoice, South Africa's leading pay-TV operator, has warned shareholders of a significant shift in its financial performance for the fiscal year ended March 31, 2025, driven by challenging macro-economic conditions and structural changes in the video entertainment industry across sub-Saharan Africa. It said, "The current period has seen the continuation of unprecedented financial disruption for economies, corporates and consumers across sub-Saharan Africa due to several macro-economic factors, including weaker average exchange rates, elevated inflation and interest rates, and power supply challenges. "Combined with the impact of structural industry changes in video entertainment, such as the rise of piracy, streaming services and social media, as well as the cost of investing in Showmax, this has materially affected the performance of the MultiChoice Group. The group has acted decisively to counter these headwinds by, focusing on key areas within its control such as maintaining inflationary pricing discipline, growing new revenue streams and driving further efficiencies to manage costs and cash flows," the group said. In a trading statement released on Thursday, MultiChoice projected a recovery in earnings per share (EPS), forecasting an increase of 128% to 132% compared to a loss of 935 cents per share in the prior year This translates to an expected EPS range of R12.62 - R12.94 per share. The group said it expects to report positive earnings per share due to the recognition of a profit on the sale of a 60% shareholding in NMS Insurance Services (NMSIS) to Sanlam Life Insurance Limited in November 2024, and a downward adjustment to the Showmax put option liability. Similarly, the group expects the headline loss per share (which excludes the profit on the sale of NMSIS) to narrow year-on-year. Headline earnings per share are expected to rise between 62% to 66%, in a range of between R4.43 - R4.72 per share, compared to a loss of 715c per share the prior year. Trading profit (reported) from R7.9 billion is likely to fall between 47% to 51%. MultiChoice said, "The ongoing investment in the Showmax streaming business, which remains at an early stage of development and has yet to scale into its cost base, is expected to result in the group reporting a lower trading profit. On an organic basis (excluding the effects of foreign currency and group composition changes), the decline in trading profit is expected to be much smaller." Trading profit (reported) was expected to fall by between 47% to 51% from R7.9 billion. BUSINESS REPORT
The Citizen
17-05-2025
- Health
- The Citizen
Motsoaledi: SA's HIV programme ‘not collapsing' following US aid cuts
Health Minister, Dr Aaron Motsoaledi, has refuted claims that the country's HIV/AIDS programme is collapsing, following the withdrawal of the President's Emergency Plan for AIDS Relief (PEPFAR). Motsoaledi stressed that the State is taking decisive steps to maintain HIV treatment and prevention programmes. This is after the withdrawal of the funding to key health initiatives, including PEPFAR, which was established by former President George W Bush in 2003 and continued under various administrations. The Minister noted a R7.9 billion loss from PEPFAR from the R46.8 billion spent on the HIV/AIDS programmes annually, with 5.9 million people on antiretrovirals (ARVs). 'It is inconceivable that out of R46.8 billion spent by the country on the HIV/AIDS programme, the withdrawal of R7.9 billion by [United States] President [Donald] Trump will immediately lead to a collapse of the entire programme.' Yesterday, Reuters reported that testing and monitoring of HIV patients across South Africa have fallen since the United States cut aid that funded health workers and clinics, with pregnant women, infants, and youth the most affected. However, according to the Minister, since the PEPFAR cuts, government has launched a comprehensive strategy to bridge the funding gap and continue critical healthcare services. Government has since established weekly provincial check-in meetings to verify and track HIV treatment progress. They have also reached half a million people through coordinated efforts with civil society and secured alternative funding sources, including support of R1 billion from the Global Fund. According to the Minister, they have also conducted provincial road shows to engage local healthcare workers, AIDS councils, and community stakeholders. 'It's wrong to say the campaign of the HIV/AIDS programme in South Africa is collapsing, because it's not. The fact that we've picked up this plan … shows that we know that something can go wrong. 'So, if viral load testing has dropped, does it mean the collapse of the campaign by any stretch of imagination? No. We expected that some of these problems would occur, but we are sitting with them every day. But simply because a problem is occurring, to go and announce that the HIV programme has collapsed is wrong.' Motsoaledi also addressed the closure of 12 specialised clinics funded by the PEPFAR, which has led to the transfer of 63 000 patient files to public health facilities. However, despite this, he mentioned government has already trained over 1 000 clinicians and over 2 300 non-clinicians in seven provinces. According to Motsoaledi, the country continues to maintain a stable supply of antiretroviral medications, with 90% procured through government fiscal resources and 10% from donors. 'I would also like to believe that every single South African from all walks of life has a wish and a desire to end the scourge of HIV and AIDS as a public health threat at least by 2030. 'But fighting each other, denigrating each other, pointing fingers, reporting and spreading disinformation about the status of the campaign is definitely not a way in the aftermath of President Trump's decision, and it is certainly not a way to end the scourge of HIV and AIDS.' Motsoaledi said the State was actively seeking support from international partners, including meetings with organisations like the Bill and Melinda Gates Foundation and the French Development Agency. 'This is a time to come together, unite, and fight this as one strong unit.' The Minister highlighted government's continued commitment to combating HIV, stressing the significant achievements over the past decade. Additionally, he stated that the government's commitment to combating HIV remains strong, with significant achievements. Life expectancy has increased from 54.7 years in 2010 to 66.5 years in 2024, while maternal mortality has decreased from 249 to 86 per 100 000 live births, and the number of HIV-positive babies has dropped from 70 000 in 2004 to just 643 in 2025. – At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
Eyewitness News
16-05-2025
- Health
- Eyewitness News
Trump can't be blamed for cutting funding to SA's HIV/AIDS programmes
CAPE TOWN - Health Minister Aaron Motsoaledi says United States (US) President Donald Trump can't be blamed for cutting funding to the country's HIV/AIDS programmes. He says that while the impact of this has left many fearful of the consequences, it won't cause the country's treatment programmes to collapse. Meanwhile, Parliament's health committee says it will meet with the Treatment Action Campaign to discuss their concerns after activists disrupted a parliamentary committee meeting on Wednesday to flag the reduced access to drugs, following the closure of President's Emergency Plan for AIDS Relief (PEPFAR) -funded clinics. Under fire for what some perceive to be the slow response by the health minister to plug the R7.9 billion funding shortfall, Motsoaledi says he understands this is a stressful situation. But he says the country needs to move past what's happened and unite in efforts to get more than a million people on life-saving drugs before the end of the year. 'We must accept that President Donald Trump has taken away what belongs to his country.' He's lashed out at media houses, whom he says are spreading misinformation about the impact the funding withdrawal is having on treatment campaigns. 'Propagating wrong information about the HIV/AIDS campaign in the manner that's being done is no different from the approach adopted by AfriForum, and its ilk, which led Trump to thrash the whole country.' Motsoaledi says over 60,000 patient files have been transferred from clinics that have been closed to public healthcare facilities. He adds that these patients are also being contacted by these facilities to inform them of the changes.
Eyewitness News
15-05-2025
- Health
- Eyewitness News
Motsoaledi dismisses suggestions PEPFAR withdrawal will collapse govt programmes
CAPE TOWN - Health Minister Aaron Motsoaledi has moved to counter suggestions that the withdrawal of United States funding for HIV/AIDS treatment is threatening the collapse of government programmes. US President Donald Trump withdrew the President's Emergency Plan for AIDS Relief, known as PEPFAR, in January this year, which in this year would have contributed around R7.9 billion to treatment programmes in eight provinces of the country. Motsoaledi has come under fire in Parliament and from activists for not being proactive enough to plug the funding gap and to stop the closure of clinics. READ: PEPFAR funding cut to only affect staffing, says Motsoaledi At a media briefing in Pretoria on Thursday, Motsoaledi has, however, hit back at the media for what he said are false narratives linked to the withdrawal of funding. The health minister said the files of patients who were receiving treatment at PEPFAR-funded clinics have been transferred to other sites. "It is inconceivable that out of the R6.8 billion spent by the country on the HIV/AIDS programme, the withdrawal of R7.9 billion by President Trump will immediately lead to the collapse of the entire programme. We believe it's inconceivable."
IOL News
14-05-2025
- Business
- IOL News
eThekwini ratepayer associations warn against 'superficial' 50 percent debt relief measure
The Bluff Ratepayers and Residents Association said that the eThekwini municipality's proposed 50% debt write-off is a welcome gesture, but it risks being more of a tick-box exercise than a real solution. Image: File The Bluff Ratepayers and Residents Association said that the eThekwini municipality's proposed 50% debt write-off is a welcome gesture, but it risks being more of a tick-box exercise than a real solution. Norman Gilbert, chairman of the BRRA said that while it may offer short-term relief to struggling households and businesses, it doesn't address the deeper issues causing the debt—like poor service delivery, aging infrastructure, and unaffordable tariffs. Ethekwini councillors gave the special debt relief programme the go-ahead at a council meeting on Wednesday. The water debt as at the end of January 2025, of R14.7 billion was the biggest contributor, due to undetected underground leaks and short payments by insurers. The municipality has found that many customers are unable to settle these debts and thus regarded this as irrecoverable. The programme is an initiative aimed at reducing municipal debt by offering residents and businesses a 50% write-off, provided they pay the balance in full before the end of the financial year. Other conditions include that prior to the customer settling the 50% of the arrear debt owed as at 31 January 2025, a customer must settle the entire debt from February 2025 to April 2025. The municipality stated that should a customer not be in a financial position to settle the debt for the months after 31 January 2025, that such a customer must enter into a payment plan not exceeding six months, without making any down payment. The total debtors book for the municipality, as of 31 January 2025 was R36 billion which grew significantly by R7.9 billion, when compared to January 2024. Government departments and parastatals owe the municipality R1.3 billion. Gilbert stated that the water debt highlights systemic failures that have been ignored for too long. 'Similarly, R9 billion in unpaid rates and billions in household debt show just how unaffordable basic services have become for many residents. This isn't just about non-payment, it is about survival. The situation is worsened by government debt, which sends the wrong message to the public and undermines the municipality's debt recovery efforts,' he 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 Next Stay Close ✕ Gilbert stated that while the debt relief proposal could help reduce the growing debt book, it lacks a long-term plan to prevent the same problem from recurring. Ish Prahladh, chairperson of the eThekwini Ratepayers and Residents Association (ERRA), stated that ratepayers should be given oversight on municipal finances to put an end to tenders, advocate for competent staff and unnecessary overtime expenditure and consultancy fees. 'A municipal debt write-off will definitely benefit residents. Pensioners earn R2,000 but have to pay a R6,000 municipal bill (and this) makes life impossible for some residents. Hire competent plumbers to rectify the problems in the water department and cut our water losses to zero. Water insurance is pathetic as it does not cover the amount that is lost by the residents," Prahladh said.
