Latest news with #TourismandEnvironmentalAffairs
IOL News
14-05-2025
- Business
- IOL News
Understanding the Banks Act exemption: MEC Zondi's insights on Ithala
KwaZulu-Natal Economic Development, Tourism and Environmental Affairs (Edtea) MEC Reverend Musa Zondi. Image: Sibonelo Ngcobo/ Independent Newspapers KwaZulu-Natal Economic Development, Tourism and Environmental Affairs (Edtea) MEC Reverend Musa Zondi has discussed issues surrounding the Banks Act exemption and the banking licence and how these affect Ithala SOC Limited. Zondi discussed the two topics during a media briefing called by the KZN government, led by Premier Thamsanqa Ntuli. Ithala SOC Limited CEO Dr Thulani Vilakazi was also present. Zondi explained that there is a provision in the Banks Act for an exemption to be granted to certain institutions, such as Ithala SOC, to operate as a fully-fledged bank without having to acquire a banking licence. 'That has been the case from day one until the powers that be decided that they were no longer going to grant it,' Zondi said. 'Denying extending the exemption to Ithala SOC may as well cause an amendment to the Banks Act to do away with the exemption regime.' Zondi said they are making Ithala operational because they are working within the law governing the banks in South Africa. 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 ✕ He said he has been a parliamentarian since 1994, and from 1994, there has been a persistent call from parliamentarians that a state bank should be established. 'There has been no success to date. Ithala is the only, if you like, existing state bank which has been successful,' Zondi said. 'So why kill something that is already successful?' On Ithala's acquisition of a banking licence, Zondi explained that the reason they needed to acquire a banking licence is to comply with the current situation where the Prudential Authority has withdrawn the bank's ability to operate. 'As parliamentarians, when we drafted that Act we drafted it with state institutions like the land bank and others (in mind), will they need a commercial licence, do you need to privatise them. No, you don't need to privatise them and therefore that exemption clause was put in there,' Zondi said.
IOL News
14-05-2025
- Business
- IOL News
Ithala CEO explains ongoing operations amidst court cases
KwaZulu-Natal Premier Thamsanqa Ntuli and Ithala SOC Limited CEO Dr Thulani Vilakazi during a media briefing in Durban. Image: Sibonelo Ngcobo/Independent Newspapers As Ithala SOC Limited continues its operations following a recent court ruling, CEO Dr Thulani Vilakazi has emphasised the bank's commitment to client engagement and transparency. Vilakazi was speaking during a media briefing on Wednesday hosted by KwaZulu-Natal Premier Thamsanqa Ntuli, alongside Economic Development, Tourism and Environmental Affairs (Edtea) MEC Reverend Musa Zondi. This is a few days after the Pietermaritzburg High court allowed Ithala to continue operations. Vilakazi said they were still being briefed by their legal advisers on the significance of the court decision. 'So for the better part of the weekend, that's what we dealt with.' Vilakazi said they are holding ongoing client and staff engagements. 'We have a number of ways of communicating with our customers. We have a call centre that is in vernacular, that is fully manned. We have also issued notices in both isiZulu and English. We continue to communicate with our clients and clarify for them,' Vilakazi explained. 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 ✕ He said their operations have been greatly affected. 'We also put up a plan for people to be able to pay. We also have a plan where we allow our customers to now pay into an account at a particular bank to receive these obligations on a monthly basis,' Vilakazi said. 'At the moment, you can come to our branch, you can get insurance advice, but you can't do OTC (over-the-counter services), we don't take deposits.' Vilakazi clarified that all deposits they had were legally collected up to December 15, 2023. Around the insolvency issue, Vilakazi said: 'I won't get into this because that's before the courts and the provisional liquidation case is not going to be held.' He said an institution is said to be insolvent when its current liabilities exceed its current assets. 'That's not our case, but I can't get into it because that matter is still going to be heard.' Ntuli shared experiences of some affected Ithala clients: A young KwaDukuza farmer Mhlengi Ngcobo's hydroponic farm faces closure due to a frozen Ithala account, preventing the purchase of essential agrochemicals and fertilisers. Crop spoilage forced him to dismantle ten tunnels and lay off five employees. Mrs Hlabisa in KwaNongoma received lobolo payments in her Ithala account for her daughter's wedding, which was planned for April 20. However, she has been unable to access these funds, causing distress during what should be a happy time. Mr Ntuli from uMlazi lost his job and had been using his Ithala savings to survive. Now, his funds are frozen, leaving him unable to provide food and meet his family's basic needs.
IOL News
14-05-2025
- Business
- IOL News
Unlocking job opportunities: KZN's cannabis processing facility initiative
The KwaZulu-Natal government is launching a Shared Cannabis Processing Facility to boost opportunities in the sector. Image: Pexels With grim employment statistics released yesterday, a new cannabis initiative in KwaZulu-Natal aims to unlock job opportunities, especially in rural parts of the province. The Department of Economic Development, Tourism and Environmental Affairs (Edtea) has recently detailed its plans for the sector, including a partnership aimed at piloting a Shared Cannabis Processing Facility. This project is critical, with at least one municipality, the Okhahlamba (Bergville) Municipality, hinging its hopes on it to address unemployment and boost the municipality's budget. The central focus of the project is processing cannabis into various products. Addressing unemployment needs urgent attention as Statistics South Africa's latest quarterly labour force survey, which was released yesterday, indicated that the unemployment rate has increased by one percentage point from 31.9% in the last quarter of last year to 32.9% this year. 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 ✕ Musa Zondi, the MEC for Edtea, stated that the industry presents an opportunity to enhance the rural economy. Edtea's rural economy strategy includes the formalisation and expansion of the cannabis and hemp sector, not as a side project, but as part of a centrally focused legitimate industrial activity. 'In this regard, we are piloting a Shared Cannabis Processing Facility in Bergville, in partnership with the Council for Scientific and Industrial Research (CSIR) and Industrial Development Corporation (IDC). This initiative will support oil and fibre production and incubate small growers, ensuring traditional producers enter the value chain meaningfully,' Zondi remarked recently. Okhahlamba mayor Vikizitha Mlotshwa expressed pride in their cannabis growing operation, stating it is 'excellent' and unique compared to other parts of the country. He mentioned that they have identified a facility in the area that could be used as a processing site. They have received one machine needed to process cannabis into other products and are waiting for an expert to service and assemble the machine while they work on acquiring a larger machine to process bigger volumes. 'We have received support from Edtea and other organisations. We hope to raise up to R10 million in funding in the coming months to invest in the project,' he said. 'This project started slowly; we planted, harvested, and then hosted an exhibition where many government officials came to see our progress. Edtea was one of the departments that were impressed with what they saw and committed to investing. Other entities have pledged about R5 million already.' He explained that the aim is to have the capacity to process their products. 'We want to produce about 400 products from cannabis, ranging from bath soap to lotion. We do not want to sell our product as raw material, as it yields little profit. Currently, we harvest and sell at low prices to someone who then makes real products and sells those for substantial profits.' The mayor noted that if the project works as anticipated, it could be a windfall for the youth and the municipality. 'Currently, we are facing youth unemployment close to 35%. If we launch this well, we could create jobs and reduce this to around 10%.' 'This could also be a significant boost for the municipality. We currently have a budget of R266 million, and with this project, our projections show that this could grow to nearly a billion due to the value chain that will be created,' he added. The project has been welcomed by Edtea committee members. Hannah Lidgett, DA MPL and spokesperson on Edtea, expressed support for the proposal, stating that the industry has immense potential. 'The hemp and cannabis sector could be a significant source of revenue and job creation in KZN. The shared cannabis processing facility is a fantastic project, but it must get off the ground as soon as possible. It is a step in the right direction, but we could create far more opportunities,' she said. 'The government needs to provide the support and enabling regulatory environment to allow this sector to grow. Many communities, especially in rural areas, could benefit. However, we need a comprehensive plan. I have submitted written questions to Edtea requesting whether the department has conducted research into the sector and the potential revenue and jobs it could create, as well as the plan to develop this sector given its enormous potential,' she stated. Chairperson of the Edtea committee, Mafika Mndebele, remarked that the announcement by the MEC to establish a shared cannabis processing facility in Bergville is a bold and progressive step toward unlocking the full economic potential of the rural economy. 'This initiative is not just about industrialisation—it's about localisation, beneficiation, and empowerment. Cannabis has long been part of traditional livelihoods in many rural areas. By formalising and processing it locally, we create a sustainable value chain that ensures communities are not just producers but participants in the entire economic ecosystem—from cultivation to commercial products.' 'The shared nature of the facility also promotes inclusive participation by cooperatives, small farmers, and youth-led enterprises—creating jobs, stimulating entrepreneurship, and contributing to local revenue,' he added. 'As the Committee, we will ensure there is strong oversight to avoid gatekeeping and ensure that this project becomes a model of rural industrial development, with broad-based participation and tangible benefits for the people of Bergville and the province at large," the chairperson concluded. THE MERCURY
IOL News
14-05-2025
- Business
- IOL News
Community leaders outraged by the closure of Mobeni Heights Crematorium
THE closure of the Mobeni Heights Crematorium yet again, has sparked outrage among community leaders in Chatsworth and funeral service providers. They have accused the eThekwini Municipality of 'gross apathy' for not managing the facility properly. On Monday, funeral service providers were notified by the manager at the crematorium that the facility had been shut-down after the municipality had allegedly failed to renew the Air Emission Licence (AEL). eThekwini Municipality spokesperson, Gugu Sisilana, said the closure of the crematorium was due to the poor performance of the furnace. This, she said, was attributed to the control unit malfunctioning. It impacted on the facility's ability to cremate within the parameters of the AEL, and the closure was enforced despite the AEL being valid until January 31, 2026, she added. Sisilana said the crematorium would be reopened once the proposed upgrade was completed and compliant with all legislative requirements. 'The upgrade of the crematorium is funded in the 2025/2026 financial year and would focus on the replacement of the furnace and a building upgrade of the 'pyramid' portion of the facility. Any changes would require permission from the Department of Economic Development, Tourism and Environmental Affairs (EDTEA) and final approval by other role players,' she added. She said the crematorium had two furnaces, both of which were not operational. 'The upgrade would replace the oldest furnace with a locally manufactured and maintained unit. The new unit will comply with the latest legislation required to operate a crematorium. 'The second furnace that was commissioned in 2021 would undergo a refurbishment, including the control unit to latest industrial standards and norms to be fully compliant with all legislative requirements,' Sisilana added. Rocky Naidoo, chairperson of the Chatsworth and District Civic Federation, said they would challenge the municipality in court if it did not find a solution to get the facility up and running again. He said every year, the crematorium was faced with different issues, including broken incinerators and furnaces which did not work. 'The municipality is messing around with the community they were tasked to serve. Last year, we were told that the budget was approved for the 2024/5 period and that the facility would be fully operational. We were assured by Tim Arbuckle, the head of crematoriums for the municipality, that the incinerators would be operational within that period. 'But they are dragging their feet. The incinerators have not been working efficiently for well over 10 years. The communities are deprived of a valuable much needed service. You cannot have a citation where we encourage people to cremate their loved ones in view of the shortage of burial space, but not have the services,' he added. Naidoo said the community was paying the price for the lack of service delivery from the city. 'We believe that the service delivery is non-existent in predominantly Indian areas like Chatsworth. This is evident in the lack of response for the ongoing issues the community faces. 'We hope that we are not going to hear the same excuses, that the money will come from the budget in the 2025/26 period next year. The crematorium will become a rusting relic if left to the municipality,' Naidoo added. Clive Moodley, President of the Progressive Funeral Practitioners Association (Profpa), said for years the municipality had proven they were unable to properly manage the crematorium. 'This is just another show of negligence by the city. We have made a number of proposals to them, including for the crematorium to be privatised so that the facility could be refurbished. But they do not want to do that or fix it.' Moodley said an air emission certificate not being renewed was an indication that the city did not have their operations under control. 'How can they fail to renew a licence for a facility that is already in dire need of repairs? This shows that they do not care about the people. We will join the civic association to take the municipality to court if they do not prioritise the crematorium repairs,' he said. Lenny Reddy, from Wyebank Funeral Services, said: 'Families are facing significant delays in arranging funerals and there is great uncertainty with this latest closure. This causes emotional distress and financial hardship for those affected by death. I urge the relevant authorities to provide interim solutions or emergency funds to address the crematorium's closure. We too will join the civic association to hold the city accountable.' THE POST
IOL News
05-05-2025
- Business
- IOL News
KZN's informal economy masterplan aims to empower township businesses
The Department of Economic Development, Tourism and Environmental Affairs has finalised the KZN Informal Economy Masterplan, which aims to boost the informal or township economy. The Department of Economic Development, Tourism and Environmental Affairs has finalised the KZN Informal Economy Masterplan, which aims to boost the informal or township economy. Speaking recently while tabling his budget for the 2025 financial year, MEC Musa Zondi said, 'We have always recognised the pivotal role that the township and rural economy plays in the broader economic development strategy of KwaZulu-Natal. 'We are pleased to announce that we have finalised the KZN Informal Economy Masterplan: a blueprint to formalise, support, and elevate informal businesses through licensing systems, compliance support, and investment in shared infrastructure.'
