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Swys de Bruin, praised the defensive attitude and attacking prowess of the Springbok Women in their 36-19 win over Spain at DHL Stadium in Cape Town on Thursday. De Bruin, the team’s Performance Coach, hailed the display as another step forward in the preparations towards the WXV 2 and next year’s Rugby World Cup. De …
The Arts & Culture Trust (ACT) is proud to announce that young and upcoming designer, Thato Mahlangu, is selected as the winner of the ACT Nyoloha Scholarship Programme costume and fashion designers gala performance finals event collaboration competition. Mahlangu, will have the opportunity to design costumes for participants showcasing their talents at the prestigious ACT …
Cabinet notes water supply disruptions in Gauteng
Cabinet has, according to Minister in the Presidency Khumbudzo Ntshavheni, noted existing water supply disruptions in Gauteng and in some Free State municipalities that are not related to the Lesotho Highlands tunnel closure.
“We further noted that the DWS [Department of Water and Sanitation] has supported municipalities to engage stakeholders in relation to the closure of the Lesotho Highlands tunnel,” the Minister said.
She was addressing the media on Friday, regarding the outcomes of the Cabinet meeting held on Wednesday.
“Cabinet further noted that in Gauteng, rapid population growth, lack of infrastructure maintenance, lack of enforcement of by-laws and delays in the implementation of phase 2 of the Lesotho Highlands project have contributed immensely to the current water disruptions.
“However, the completion of phase 2 of the Lesotho Highlands project will bring relief if supplemented by water demand management interventions, use of new water-saving technologies and proper maintenance of infrastructure.”
Cabinet had at its ordinary meeting this week been briefed on the closure of the Lesotho Highlands Water Project’s tunnel for planned maintenance from 1 October 2024 to 31 March 2025.
The Minister said Cabinet believed the planned maintenance work was crucial to protect the infrastructure for another 20 to 30 years and failure to undertake this work would risk the transfer of water to the Integrated Vaal River System (IVRS), which provides the water supplied by Rand Water to its customers and all municipalities in Gauteng.
The Minister said a thorough analysis to assess the risk to the performance of the IVRS, which consists of 14 interconnected dams, have since been undertaken by the DWS.
“The analysis confirmed that the impact of the tunnel closure on the overall IVRS will be minimal as most dams in the IVRS are currently full.”
Meanwhile, she said the Cabinet noted the department had been holding readiness meetings with Free State municipalities which receive water from the Liebenbergsvlei River since 2022.
The purpose of these meetings is to mitigate the risks of service interruptions during tunnel maintenance.
“However, delays by municipalities to upgrade and/or refurbish their infrastructure remains a challenge. Cabinet noted that the DWS will monitor and where necessary, intervene to support these municipalities.”
Water restrictions in Gauteng
Shifting her focus to the implementation of level 1 water restrictions in Gauteng, she explained that this was a result of Rand Water reaching its maximum water output on the IVRS.
“Water demand in Gauteng continues to grow because of population growth, increase in non-revenue water in municipal systems, including illegal and unbilled connections, and lack of maintenance resulting in huge water leaks, which are at 33% average across Gauteng municipalities.”
Currently, Ntshavheni said, the peak demand for water from Rand Water’s municipal customers is close to and occasionally exceeds the supply available from its treatment plants and storage reservoirs.
“To avert greater restrictions Gauteng municipalities must prioritise reducing water leaks in their water distribution systems and enforce water-use restrictions.”
Ntshavheni announced that the DWS, Rand Water and Gauteng municipalities are partnering with the World Bank 2020 Water Resources Group to implement a mass awareness and communications campaign on using water sparingly, in collaboration with civil society and business leaders. – SAnews.gov.za
Gabisile
Fri, 09/20/2024 - 14:18
Cape Town will be the hub of innovation on October 16th and 17th, 2024, as it hosts the Elevate Your Enterprise Summit, organised by business school, Pranary. This premier event aims to unite global thought leaders, industry pioneers, and ambitious entrepreneurs, focusing on key drivers of business growth: Marketing, Technology, and Investments, with a special …
Cabinet hails progress in fight against crime with Operation Shanela
Cabinet has welcomed progress being made in the fight against crime through Operation Shanela, which continues to make its mark in rooting out criminality.
“Between 2 and 8 September 2024, law enforcement agencies arrested 13 691 suspects for serious crimes such as murder, rape, possession of illegal firearms and business robberies,” Minister in the Presidency Khumbudzo Ntshavheni said during a post Cabinet media briefing on Friday.
Since its inception in May 2023, Operation Shanela consists of regular stop and searches, roadblocks, vehicle check points, high visibility patrols, including foot patrols, the tracing of wanted suspects with a focus on murder and rape suspects, and compliance inspections at liquor outlets and second-hand goods dealers.
Through detectives and crime intelligence tracing operations, roadblocks, as well as stop and searches - police have taken a bold and decisive approach in protecting the communities that they serve.
Since its launch, Operation Shanela has resulted in the arrest of 850 375 suspects, and seizure of 824 illegal firearms and over 17 282 rounds of ammunition. In addition, drugs worth over R13 million were seized at the OR Tambo International Airport over the past two months, and copper worth over R20 million was recovered from a scrapyard near Durban, with a suspect arrested.
“Through a coordinated multidisciplinary and intelligence-led operations, law enforcement agencies are focused on dismantling extortion syndicates across the country. In the past two weeks, 14 extortionists were arrested in various provinces,” Ntshavheni said.
Restoring Integrity of Law Enforcement Officers
Through a multidisciplinary collaboration, law enforcement agencies have arrested 14 suspects in Mpumalanga on charges of fraud and corruption for issuing illegal learners’ and driver’s licences. Meanwhile, 11 traffic officers were also arrested for soliciting bribes from motorists along the N1 freeway in Limpopo.
“Three off-duty police officers and a civilian were arrested in Durban, KZN, for soliciting a R100 000 bribe from a businessman in exchange for the release of confiscated goods, and four more police officers handed themselves over to the SAPS on the same case,” the Minister said.
Furthermore, eight suspects were arrested for alleged involvement on tender fraud and corruption amounting to R850 million in the City of Cape Town, Western Cape. – SAnews.gov.za
DikelediM
Fri, 09/20/2024 - 14:11
Johannesburg, 20 September 2024: The decision to take a hard stance and regain financial control has paid dividends for Daybreak Foods’ CEO, Richard Manzini, as he welcomes the Public Investment Corporation SOC Limited’s (PIC) approval of a ZAR 250 million ($ 13 million) corporate loan. “It has not been an easy road for any of …
Homecoming ceremony for deceased liberation struggle heroes
The South African government will receive the human remains of freedom fighters and anti-Apartheid political leaders who died in Zambia and Zimbabwe in a ceremony expected to be held next week.
The ceremony is expected to take place at the Waterkloof Airforce Base in Pretoria.
While briefing the media on the Cabinet meeting held this week, Minister in the Presidency Khumbudzo Ntshavheni said the remains are that of Advocate Duma Nokwe, Florence Mophosho and Basil February.
“Cabinet received an update on the preparations to repatriate the mortal remains of South Africa’s freedom fighters who are buried in Zimbabwe and Zambia.
“The repatriation of the remains from Zambia and Zimbabwe forms part of the Resistance and Liberation Heritage Route Project [RLHR]. The RLHR is a national memory project aimed at commemorating, celebrating, educating, promoting, preserving, conserving and providing a durable testament of South African’s road to freedom.
“A Homecoming Ceremony will take place at the Waterkloof Airforce base on 27 September 2024 when the mortal remains arrive in South Africa,” Ntshavheni said on Friday.
Briefing media earlier this month, Presidential Spokesperson Vincent Magwenya said the repatriation is in line with the pronouncement by President Cyril Ramaphosa in the statement of the January 8, 2020, and subsequently State of the Nation Address.
“In that pronouncement, he made a commitment that the repatriation and reburial of liberation stalwarts, namely Dumalisile Nokwe and Florence Maphosho, in both Zambia and Basil February in Zimbabwe, would mark the Road to Freedom and Democracy. The two countries were strategically prioritized for the implementation of the project,” Mangwenya told a media briefing at the time.
READ | Call to visit heritage sites to honour liberation struggle stalwarts
-SAnews.gov.za
NeoB
Fri, 09/20/2024 - 13:16
Location: Mabeskraal Stadium, North West Province, South Africa LiuGong Machinery, a global leader in construction machinery, is proud to announce the successful completion of its latest water well project at Mabeskraal Stadium in the Northwest Province. This initiative, part of the broader LiuGong Green Alliance, is a significant step forward in addressing the water scarcity …
Businesses say the lack of clarity around ESG and AI regulation is a key challenge to realising the benefits of technology and innovation; Despite recognising the business opportunity with AI, as firms opt to bring in suppliers rather than recruiting in-house specialists, they may be left without the internal talent - risking falling behind the curve in the future.
New survey data from global law firm, DLA Piper, has shown that the Financial Services (FS) sector is calling out for clearer and proportionate regulations surrounding AI and ESG to help them realise the benefits these trends offer.
In its global report - Financial Futures: Disruption in global financial services (https://apo-opa.co/3zhzr4e), published today, the firm found that eight in ten respondents are optimistic about future industry growth prospects for the financial services industry. UK and US organisations reported the highest confidence (93% and 90% respectively) with Africa remaining more cautious (50%).
Amongst organisation types, the research finds that banks are the most optimistic (88%), with optimism being driven by digitalisation and advancements in technology. Respondents from global FinTechs however, are feeling the least positive (72%).
The high levels of optimism are being attributed to advancements in technology (71%), the launch of new products and services to drive growth (55%) and changing consumer and investor behaviours (38%).
However, clarity and a proportionate approach is key as 58% of respondents cite regulation complexity around technology as a key challenge globally, and nearly three quarters (73%) go on to say that current regulations stifle innovation efforts.
For those looking at other locations for optimal conditions for growth , the US is seen as the most attractive market (35%), followed by the EU (24%). South African and Middle Eastern respondents are the most optimistic for the positive impact AI will bring (72%, and 64% respectively), highlighting an appetite for investment, despite apparent lower levels of confidence in the local market.
AI and Digitalisation will transform the financial services sector, but businesses need a plan
Whilst the majority of respondents (86%) believe that AI will transform the sector, half (53%) see AI as one of their main challenges- even so, only four in ten (both 39%) are committed to hiring experts in the field of AI and imposing governance /oversight structures to maximise the related opportunities; and half of the companies surveyed lack in-house specialists and are opting to work with specialist subcontractors.
Without this internal talent, businesses risk falling behind the curve in the future.
Ethical AI concerns are highly documented, yet only 56% of the organisations surveyed are developing ethical frameworks to guide their efforts. Without an ethical framework in place, businesses put themselves at risk of not meeting stakeholder, customer and board demands around AI deployments. It is vital for businesses to have a clear plan and direction in place before they start their AI journey.
Despite not having frameworks to use, businesses report a clear understanding of the benefits AI can offer, such as managing regulatory compliance (63%); followed by fraud detection and prevention (62%). A fifth (21%) of businesses are worried about compliance issues as they look to manage the cyber security and data protection risks associated with AI.
The importance of ESG cannot be understated
As businesses grapple with changing ESG regulations across multiple jurisdictions, nearly (46%) half of businesses globally have ambitions to position themselves as a leader and innovator on sustainability and ESG.
The appetite to drive ESG agendas forward is clear, but businesses report concerns on achieving their goals - over half of respondents (56%) would like to see more ESG regulation to support them in meeting their objectives, and 43%% want to understand the current regulations better.
Businesses seem clear on the ESG challenges they need to navigate, with half stating that the reputational risk of ESG positioning is their biggest challenge, followed by integration of ESG throughout the business (47%). Businesses also ranked accurate reporting as a challenge which they are struggling to address.
The negative external reputational risk of not complying with and need to comply with regulations are the biggest drivers for firms to engage in ESG activities (70% and 52% respectively). However, pressure from shareholders and senior management ranked lowest at 36% and 34% respectively.
As the sector engages with ESG activities, almost 6 in ten (57%) plan to develop new ESG-focused products and services, and half are developing new technologies, yet staff development and training to optimise ESG efforts remains low on the agenda (17%).
Almost half of the sector has ambitions to position their business as an ESG leader, whilst a third (34%) plan to replicate successful approaches by their peers. Not all organisations are so proactive - A fifth (19%) will wait until stakeholders and customers demand an approach, before making any decision.
Mark Dwyer Global Co-Chair of the firm's Financial Services sector group at DLA Piper commented: "While our survey shows a high level of optimism within the financial services sector, our research reveals a need for FS organisations to go further in planning around resourcing and regulatory horizon scanning in order to navigate the opportunities that AI and other new technologies offer.
"It is clear that ESG factors are driving changes to activity in financial markets; from financing the enormous capital requirements for transition, to ensuring accurate reporting of environmental, social and governance metrics to facilitate choice for investors and supervision and stress-testing by regulators. It is therefore vital that leaders take note of the challenges and opportunities presented by ESG and define a clear plan. Both ESG and innovation will be key to business success long into the future."
Johannes Gouws, Country Managing Partner, DLA Piper South Africa added: "In light of the challenges our report identifies, financial services organisations are placing a higher focus on horizon scanning, as well as mapping out global regulatory implications. Balancing adequate and over-regulation in developing markets is always challenging. However, it is crucial for regulations in African markets to keep pace with international developments in order to limit regulatory arbitrage and protect the sector's integrity. Proportionate regulation in the sector is key, and can be a competitive advantage in attracting business and investment. With DLA Piper's pan-African and global reach, we can help clients to simplify their cross-border challenges whilst supporting their resilience in the face of constantly changing risks."
Distributed by APO Group on behalf of DLA Piper.
Notes to editors:
DLA Piper commissioned Coleman Parkes Research to canvass views of key decision-makers in global financial services organisations across the EMEA and APAC regions and North America. Nearly 800 interviews were conducted online in March and April 2024 with executives in key businesses across banking, funds and fund managers, fintech and financial services market infrastructure firms with revenues from USD1 million.
Contact:
Suraj Mashru
Senior PR Manager (UK & International), DLA Piper
+44 (0) 207 153 2617
Suraj.Mashru@dlapiper.com
About DLA Piper
DLA Piper is a global law firm helping our clients achieve their goals wherever they do business. Our pursuit of innovation has transformed our delivery of legal services (https://apo-opa.co/3MPSGou). With offices in the Americas, Europe, the Middle East, Africa and Asia Pacific (https://apo-opa.co/4dczEU6), we deliver exceptional outcomes on cross-border projects, critical transactions and high-stakes disputes.
Every day we help trailblazing organizations seize business opportunities and successfully manage growth and change at speed. Through our pro bono (https://apo-opa.co/3BkLxde) and sustainability (https://apo-opa.co/4djCiHE) work, we support communities around the world and help create a more just and sustainable future. Visit www.DLAPiper.com to discover more.
Tourism development White Paper approved for public comment
The White Paper on the Development and Promotion of Tourism in South Africa has been approved for public comment by Cabinet.
This is according to Minister in the Presidency Khumbudzo Ntshavheni who addressed the media following the Cabinet meeting held on Wednesday.
The Minister said the policy aims to increase tourism’s “contribution to the South African economy through increased volume of visitors”.
“In 2023, Cabinet approved the publication of the Green Paper…and the comments from affected parties were incorporated into this draft policy. This White Paper now provides an agreed policy framework and guidelines for tourism development and promotion in South Africa.
“This policy will promote entrepreneurship in the tourism sector and ensure the sector’s enhanced contribution to employment,” she said.
Furthermore, the policy proposals also on “aligning the tourism policy with current government policy frameworks and to enhance the sector’s resilience and ability to respond to crisis”.
Astro-tourism
Ntshavheni told the media briefing that Cabinet had also approved the publication of the National Astro-Tourism Strategy and implementation plan for public comment.
“The strategy aims to position South Africa as a world class astro-tourism destination and this will boost economic development and employment in the tourism sector. South Africa is the first African nation to develop a national astro-tourism strategy and this will boost the country’s tourism diversification,” she said.
The strategy focuses on various pillars including:
• Infrastructure development
• Optimising astronomy tourism streams
• Public/private partnerships
• Inclusive tourism and transformation.
“South Africa boasts several advantages that make it an ideal astro-tourism destination. This includes the unpolluted night skies and favourable weather conditions.
“The Department of Tourism in collaboration with the Department of Science and Innovation will launch the National Astro-Tourism Strategy at the national Tourism Day celebrations on the 27th of September where the Square Kilometre Array is located,” Ntshavheni said. – SAnews.gov.za
NeoB
Fri, 09/20/2024 - 12:27
Isilumko Staffing, a leading recruitment agency in South Africa, has announced the launch of a comprehensive Diversity and Inclusion (D&I) initiative aimed at promoting equitable hiring practices across various industries. This strategic move aligns with the company’s core values of integrity, ownership, and positive contribution while supporting clients in building diverse, high-performing teams. Initiative Overview …
Eskom and Sasol sign agreement on exploring LNG to unlock Gas to Power and mitigate imminent gas shortage for South Africa Friday, 20 September 2024: In a landmark move set to reshape South Africa’s energy landscape, Eskom and Sasol today signed a Memorandum of Understanding (MoU) to collaboratively explore and research potential future liquified natural...
An innovative payments and loyalty solution to expanding to a global market. Industry giants, Brian Dunne, based in the UK, and Debbie Ghillino, based in South Africa were so impressed with the value proposition and the potential of the technology created by Australian based Elevate Loyalty Pty Ltd, they have invested and joined forces to …
Maybe you know some of these, maybe you don’t: About Eskom and Electricity – Founded: Eskom was established in 1923. About Eskom and Electricity – Ownership: It is a state-owned enterprise. About Eskom and Electricity – Headquarters: Located in Johannesburg, South Africa. About Eskom and Electricity – Primary Function: Eskom generates, transmits, and distributes electricity. …
Cabinet welcomes positive economic numbers
Cabinet has welcomed the positive economic indicators following the slight growth in the country’s gross domestic product (GDP), slowing inflation and the drop in the repo rate.
This is according to Minister in the Presidency, Khumbudzo Ntshavheni, who briefed the media on the outcomes of the Cabinet meeting held this Wednesday.
South Africa’s GDP increased by 0.4% during the second quarter of 2024 following a 0.0% growth in the first quarter. Additionally, inflation dropped to 4.4% in August from 4.6% in July while the repo rate also dropped for the first time since 2020 to reach 8%.
“We are seeing positive economic indicators and therefor Cabinet welcomed the positive economic indicators as per the data released by Statistics South Africa. This increase [of the GDP] was influenced by the improvement in the manufacturing sector of 1.7% growth year on year. The revival of the manufacturing sector is a critical success factor in the re-industrialisation of South Africa.
“There has been a consistent improvement in the CPI since March 2024. We must also extend our appreciation to the cut on the interest rate by 25 basis points…that is [a] welcome[d] relief to all South Africans,” the Minister said at Friday’s briefing.
READ | Government welcomes repo rate cut
State owned companies
Ntshavheni said steady progress in revitalising and improving the performance of State owned companies (SOCs) is welcomed.
She added that this will “positively contribute to South Africa’s industrialisation drive”.
“In this regard, it is worth noting that Denel posted a profit of R390 million before interest and tax for the 2023/24 financial year with irregular expenditure declining by a whopping 98%.
“Prasa [Passenger Rail Agency of South Africa] is making strong headway in getting passenger trains back on track with 31 of the 40 rail corridors now operational.
“Eskom’s recovery plan continues to deliver positive outcomes with load shedding remaining suspended for more than 175 days as of the 18th of September 2024,” she said. – SAnews.gov.za
NeoB
Fri, 09/20/2024 - 11:51
Gary Trappler says he’s a “nosy neighbour”, not a tyre slasher
The immersive experience, which opened with a glamorous event on 18 September, is a showcase not only for this best-selling product, but for the entire Clarins range, allowing long-time fans and those who have newly discovered the brand to explore its different facets with a host of exciting activations. “Our Double Serum is one of …
Urgent warning as level 6 snowstorm approaches KZN
KwaZulu-Natal Cooperative Governance and Traditional Affairs MEC, Thulasizwe Buthelezi, has warned residents of severe weather conditions that are expected to affect large parts of the province from Friday until the weekend.
According to the latest warning issued by the South African Weather Service (SAWS), Level 6 disruptive snow can be expected in parts of the uThukela, Harry Gwala and uMgungundlovu Districts.
Buthelezi warned that these weather conditions pose a danger to life and could lead to temporary road closures due to ice accumulation, causing traffic disruptions on major routes.
Buthelezi urged residents in the areas expected to be affected, to take the necessary precautions, including delaying unnecessary trips, as the risk of entrapment due to icy roads is very high.
A Level 2 disruptive snow warning has also been issued for the parts of Ugu, uThukela, uMgungundlovu, Harry Gwala and Amajuba Districts.
The remaining parts of the province have a Level 2 warning for disruptive rain.
Buthelezi has assured residents that disaster management teams, coordinated by the Provincial Disaster Management Centre, are on the ground and will closely monitor developments.
“These teams are equipped to respond to emergencies and provide assistance where needed. Plans are also in place to clear roads in collaboration with local municipalities and the Department of Transport.
“This coordinated effort aims to ensure that major routes are accessible and that any disruptions are promptly addressed. Residents are encouraged to stay updated through official platforms and trustworthy news sources to receive the latest information and safety advice,” Buthelezi said. – SAnews.gov.za
GabiK
Fri, 09/20/2024 - 09:29
RTMC welcomes jail term of truck driver in fatal N3 crash
The Road Traffic Management Corporation (RTMC) has welcomed the Pietermaritzburg Magistrate’s Court decision to impose a direct jail term on a reckless truck driver who caused a fatal crash.
The crash claimed the lives of a traffic officer and a tow truck driver on the N3 highway, opposite the Midlands Mall in Pietermaritzburg, last year.
The truck driver, Ndumiso Petros Dzanibe, has been found guilty and sentenced to two terms of 10 years imprisonment each for two counts of culpable homicide.
He was also sentenced to six months for reckless driving, three months for exceeding the speed limit, and another six months for failing to report the crash. The sentence is to run concurrently.
This comes after a fatal crash on the N3 highway when a speeding truck plunged into another heavy vehicle that had overturned on the road in September last year.
“A traffic officer and tow truck driver were killed when Dzanibe crashed into the overturned truck. An ambulance official sustained severe injury, while another traffic official escaped with slight injuries,” the RTMC said, adding that Dzanibe fled the scene and failed to report the crash.
A crash reconstruction expert from the RTMC, Terence Murphy, investigated the collision.
He found that Dzanibe had been driving with an expired professional driving permit and at a speed of 128km/h, which was 48 km/h above the restricted 80 km/h speed limit for the class of vehicle he was driving.
“The investigation further found that he drove his truck knowing that it had defective brakes, failed to heed warning signs put in place to warn about an active crash scene ahead, he was under the influence of alcohol and that he fled the scene after causing the crash,” Murphy said.
This investigation report was submitted to court as evidence, and Dzanibe did not challenge the findings and pleaded guilty.
The RTMC commended Murphy for his excellent investigation and believes that the sentence will serve as a warning to other vehicle drivers, highlighting that reckless and negligent driving is a criminal offence punishable by imprisonment when fatalities are involved.
“While recognising that the sentence will not bring back the colleagues who died on the scene, we sincerely hope that it assists the families to have closure, as the culprit has been punished. The RTMC believes that a much harsher sentence could have been imposed, however, it accepts that justice has been served,” said RTMC CEO, Advocate Makhosini Msibi. – SAnews.gov.za
Gabisile
Fri, 09/20/2024 - 10:29
Minister Macpherson welcomes Castle of Good Hope court order
Public Works and Infrastructure Minister, Dean Macpherson, has welcomed a court order which stipulates that those occupying the Castle of Good Hope have to vacate the property by 17 October.
The eviction order was granted to the Department of Public Works and Infrastructure (DPWI) by the Western Cape High Court.
The order stipulates that those occupying the Castle of Good Hope have to vacate the property by 17 October 2024, following which an eviction may occur as needed for any remaining unlawful occupants.
The City of Cape Town has a standing offer to unlawful occupants to take up dignified transitional shelter at the city-run Safe Space facilities.
Safe Spaces offer warm beds, ablution facilities, meals, access to medical care, substance abuse treatment, Expanded Public Works Programme (EPWP) work, personal development planning and more, to help people leave the streets.
“The eviction order serves as a boost for Cape Town’s economy ahead of the busy summer tourism season in the city and reinforces our position that state assets should be looked after and be used for public good.
“We simply cannot allow state assets to be occupied and vandalised, such as the Castle of Good Hope during the COVID-19 pandemic. The occupation and decay of state buildings nationwide create issues for the municipalities by attracting crime and grime which we have also seen at the Castle of Good Hope,” Minister Macpherson said.
He added that the castle is an important part of South Africa’s history, and it is therefore important that it be safeguarded and maintained to ensure that future generations can learn from the past to build a better future.
He added that the castle is also an important tourism attraction in the City of Cape Town and thereby plays an important role in the local economy which helps to create jobs which are sorely needed.
Meanwhile, the Minister will be joining City of Cape Town Executive Mayor Geordin Hill-Lewis on Friday afternoon, to tour the Grand Parade next to the Castle of Good Hope, as well as the Hout Bay Harbour.
The Minister will also address the media on efforts by the DPWI to address hijacked and decayed State-owned properties in the city.
The Minister said he is committed to working with all municipalities to turn South Africa into a construction site and use public assets for public good.
“Similarly to the Memorandum of Understanding that I will soon be signing with the Mayor of eThekwini, I look forward to concluding an agreement with the City Of Cape Town, to work closer together with the Department of Public Works and Infrastructure to address hijacked and decaying state-owned buildings, but also to contribute to economic growth and job creation. Let’s Build South Africa,” he said. – SAnews.gov.za
DikelediM
Fri, 09/20/2024 - 09:44
Government welcomes repo rate cut
Government has welcomed the announcement by the South African Reserve Bank to cut the repo rate by 25 basis points to 8%.
The drop means the prime lending rate will also drop to 11.50%.
Government Communication and Information System (GCIS) Acting Director-General, Nomonde Mnukwa, said the cut will come as a relief for cash strapped consumers.
“The reduction in the interest rate and the sustained decline in inflation provide a welcome reprieve for our citizens. These combined factors are not only helping to lower the cost of borrowing, but also offer significant relief to households struggling with high costs of living,” she said.
Mnukwa added that government remains focused on stabilising the economy and “supporting household income”.
“It is also inspiring to note that the inflation rate now falls comfortably within the South African Reserve Bank's target range of 3% to 6%, allowing more room for economic planning and investment,” she said.
In his announcement of the repo rate cut on Thursday, SARB Governor Lesetja Kganyago said the bank’s forecasts expect progress in inflation to be sustained.
“In the near term, we continue to see a dip in headline inflation, supported by the stronger exchange rate and lower oil prices. The implied starting point of the rand is R18.04 to the US dollar, an appreciation of nearly 2% relative to our July assumption.
“This contributes to fuel price deflation, which helps keep headline inflation below 4% through the first half of next year. As usual, we will look through this near-term supply shock, focusing on the medium-term outlook,” Kganyago explained. – SAnews.gov.za
NeoB
Fri, 09/20/2024 - 09:26
Dear Churches – Stop inviting Satan into your home Dear Parents – Your children are lost and need YOU Dear Schools – Teaching solely with devices is not really teaching but baby sitting Each generation says that they live in trying times – Great Granny and Grandpa lived through the World Wars, Granny and Grandpa …
By Anita Dangazele A 68-year-old woman and her five grandchildren were killed in a fire in the early hours of Thursday morning in New Brighton, Gqeberha. Police spokesperson Captain Andre Beetge said the fire started at about 4am on Thursday. “On arrival in Chris Hani informal settlement … a completely destroyed shack was found. The …
Making informed property decisions hinges on having a deep understanding of property data. Whether you’re an experienced investor or someone exploring real estate for the first time, navigating property valuations and the complexities of the South African property market is crucial. Factors such as location, economic trends, and property type all play a part in …