Latest news with #cashintransit
News24
a day ago
- News24
15 gunmen ambush cash-in-transit van in KZN, make off with cash and firearms
Fifteen gunmen robbed a cash-in-transit van in broad daylight in Cottonlands, KwaZulu-Natal on Monday morning and fled with an undisclosed amount of cash and three firearms, according to the Reaction Unit South Africa (RUSA). The robbery occurred just before 10:00 in Vincent Dickenson Road. According to RUSA head Prem Balram, officers found the vehicle engulfed in flames when they arrived at the scene. 'Two security officers at the scene reported that around 15 heavily armed suspects opened fire on their vehicle with high-calibre weapons. The guards were subsequently disarmed of two rifles and a handgun before the suspects used explosives to access the rear of the vehicle and steal the cash,' Balram added. He said that the gunmen fled in a white Isuzu D-Max bakkie and a white Nissan NP200 bakkie in the direction of Ndwedwe. No injuries were reported. Authorities have launched a manhunt for the gunmen.
Irish Times
08-08-2025
- Business
- Irish Times
Ireland's biggest cash manager who has endured 200 armed robberies and a tiger kidnapping
Terry Hughes founded Pivotal, a cash-in-transit and cash-management business, in 2005. It serves about 8,000 customers across Ireland and Britain. Starting from a single branch in Belfast, Pivotal has expanded to operate across 18 centres, employing 1,200 people. It provides about 44,000 cash-in-transit services per week through its fleet of 550 vehicles. It also wholly owns and operates about 2,000 ATMs across Britain and Ireland, with plans to expand this to 10,000. He has been shortlisted in the established category for the EY Entrepreneur of the Year awards READ MORE What vision/light-bulb moment prompted you to start up in business? I saw that cash was a product that should be traded and managed as a commodity. To that point, the industry focused wholly on secure storage and secure logistics. What makes your business model unique? We buy and sell cash using wholly owned, bespoke technology across Britain and Ireland. This is enabled by our infrastructure of 18 cash centres, 550 armoured vehicles, and 1,200 employees. What was your back-to-the-wall moment and how did you overcome it? There have been many, including the 2009 crash, when our [finance] facilities were called in; Covid, when 80 per cent of our business ceased within days; enduring over 200 armed robberies, a Tiger Kidnapping and an armed branch takeover resulting in a £5 million (€5.7 million) loss. I overcame it all with resilience and perseverance, and with the support of an unbelievable team. It's true: what doesn't kill you makes you stronger. Learn, adapt, overcome and never give up. What moment/deal would you cite as a turning point for the company? The acquisition of Security Plus in the UK has been the biggest game changer, taking the business towards £100 million and cementing our position as the largest independent service provider in Europe. To what extent does your business trade internationally? We currently trade across Britain and Ireland, with plans to move into mainland Europe imminently – with the Czech Republic, Holland and Italy as identified markets. We believe that success there will open up other international markets for the business. What are your growth funding plans? Our funding path has been an eclectic journey since 2005. Initial funding came directly from my own resources and savings, with some support from the bank through hire purchase and termed facilities. We traded well and generated free cash within the business, incrementally borrowing substantial amounts from the bank to fund capital expansion, such as building a secure cash centre, equipment and vehicle fit-outs. At the time, the bank was eager to lend to the business. That changed with the financial crash, when we quickly realised we were significantly over-leveraged and the banks wanted their money back. It was a strained time, to say the least. I had to ask staff to take wage reductions, maxed out my credit cards, and relied on family to provide enough funding to keep the doors open. Ultimately, in February 2009, a £30,000 credit union loan kept us operating. For several years after, we avoided debt and relied on free cash flow to fund growth, which undoubtedly delayed expansion. A few years ago, we moved to Barclays Bank, who have been fantastic and supported our acquisition of Security Plus in the UK, a transformational step. We now maintain relatively conservative debt, a mix of termed facilities, overdraft, hire purchase and invoice financing. How will your market look in three years and where would you like your business to be? We will broaden our service offering to maximise the value of our infrastructure, IT, secure facilities, logistical footprint and extensive customer base. Additional services will include the secure storage, handling and distribution of high-value items. We have recently secured the contract across Ireland with the US embassy for visa and passport management. We will also develop our foreign currency offering into wholesale note supply. Our goal is to have a robust plan in place to grow the business to £1 billion in contracted revenues and improve our earnings to 20 per cent of revenues. What are your annual revenues and profits? This year, we are budgeted to achieve £100 million in revenues, with earnings of £13.5 million. Our contracts are typically for three years, giving us strong visibility on delivery. What are you doing to disrupt, innovate and improve your offering? Pivotal has developed wholly bespoke software (of which we own the IP) and we maintain an ongoing programme of development and continuous improvement. We own and operate the entire cash management cycle, underpinned by our class-leading software. We arbitrate cash, which reduces our customers' cost of cash handling and delivers a far more efficient service.
News24
04-07-2025
- News24
Two killed in shootout, 2 arrested as KZN police foil cash-in-transit heist
Two people were killed in a shootout with KwaZulu-Natal police, and two others were arrested on Thursday evening. The shootout occurred when police foiled a cash-in-transit robbery in Sinyameni. According to police spokesperson Brigadier Jay Naicker, officers received intelligence about a planned heist, and an operation was immediately put into place. The identified area was monitored. 'A Mercedes-Benz vehicle with four occupants was spotted and tactically approached by police. As the police officers approached the vehicle, they came under fire from the suspects,' he said. 'Following a shootout, two suspects were fatally wounded, while two were apprehended. Two unlicensed firearms, as well as ammunition, were recovered from the scene.' The two arrested men, both in their 40s, have been charged with unlawful possession of firearms and ammunition. Preliminary investigations have revealed that one of the arrested men is a former private security company employee. They are expected to appear in the Msinga Magistrate's Court soon.
Yahoo
23-06-2025
- Business
- Yahoo
EXCLUSIVE: Guardforce AI Renews 3-Year Deal With Thailand's Government Savings Bank
Guardforce AI Co (NASDAQ:GFAI) on Monday announced that its subsidiary, Guardforce Cash Solutions Security (Thailand) Company Limited (GFCS), has won a three-year renewal with Government Savings Bank (GSB). GSB one of Thailand's state-owned banks adn the renewal deal is effective from June 1, 2025, through May 31, 2028. This fourth consecutive renewal represents a decade-long partnership between the company and the renewed agreement, GFCS will continue to provide secure and efficient cash-in-transit and maintenance services for GSB's ATM network across Thailand's upcountry regions, which covers most of the company's ATM services currently handled. With this renewal, Guardforce AI will secure stable and predictable revenue streams over the next three years, providing the company with a solid financial foundation to invest in innovation and expand its AI-driven solutions, the company said. In January, GFCS renewed key contracts with its long-time customer GSB in Thailand. Under two three-year multi-million-dollar contracts, GFCS continued to deliver cash center operations and secure logistics services for coins. Price Action: GFAI stock closed lower by 3.33% at $1.16 Friday. Read Next:Photo via Company UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article EXCLUSIVE: Guardforce AI Renews 3-Year Deal With Thailand's Government Savings Bank originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News24
16-05-2025
- News24
One person killed, another wounded in attempted cash-in-transit heist in Mpumalanga
Two suspected cash-in-transit robbers have been shot - one of them dead - during an attempted robbery. Police say they were part of a group of gunmen who targeted a cash van. The rest of the gunmen fled. Guards shot a suspected cash-in-transit robber dead and wounded another during an attempted heist near White River, Mpumalanga on Thursday. According to police spokesperson. Brigadier Donald Mdhluli, preliminary reports indicate that an unidentified number of gunmen attacked cash-in-transit guards. A shootout ensued. One of the gunmen was shot and succumbed to his injuries at the scene. Another was wounded and is receiving medical attention under police guard, according to Mdhluli. 'Two rifles were recovered at the scene, while the Ford Ranger reportedly used by the suspects was later found abandoned in Swalala, near Masoyi. It is important to note that, according to our initial investigations, no money was stolen during this attempted robbery,' said Mdhluli. READ | 'The rest of their body couldn't be found': Thokoza residents recall failed CIT heist The person who was wounded is expected to appear in court soon. 'We urge anyone with further information regarding the whereabouts of the outstanding suspects or any information relating to this incident to contact the SAPS or report anonymously through Crime Stop at 08600 10111, or send information via the My SPAS app,' Mdhluli added. Acting provincial police commissioner, Major General Zeph Mkhwanazi, said law enforcement agencies were working collaboratively to combat crime, and added that the strategies put in place were beginning to yield positive results. 'The swift response and professionalism demonstrated by our security partners during this incident are commendable. Our commitment to ensuring the safety of the community remains unwavering, and we will continue to work tirelessly to bring criminals to justice,' said Mkhwanazi. According to annual crime statistics, during the 2023/24 year, police recorded 211 cash-in-transit heists – a decrease from the 238 recorded in the previous year. Gauteng had the highest number of incidents (61), followed by the Eastern Cape (50). Mpumalanga recorded 15 cases.
