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Efficiency in Material Handling: The Ultimate Guide to Forklift Hire and Rentals

Location: MyPR

In today’s fast-paced business environment, efficiency and productivity are the keystones of success, especially in industries requiring heavy lifting and material handling. Forklifts, the backbone of warehouse operations, construction sites, and manufacturing facilities, are crucial in moving heavy goods safely and swiftly. However, the capital expenditure of purchasing a forklift outright can be substantial, making …

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JMEF Established

Location: News

Department of Mineral Resources and Energy: Republic of South Africa
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The Department of Mineral Resources and Energy (DMRE) and the Industrial Development Corporation (IDC) have signed a Memorandum of Agreement (MOA) officially establishing the Junior Mining Exploration Fund (JMEF).

The establishment of this fund forms part of South Africa's mineral exploration strategy. The main objective of the fund is to enable eligible South African junior mining enterprises to access funding so they can conduct prospecting work; increase access to mine ore bodies; and promote economic inclusion to support equitable economic growth.

The main qualifying criteria requires applicants to comply with the South African mining regulatory requirements, including but not limited to the provisions of the Mineral and Petroleum Resources Development Act (MPRDA), the National Environmental Management Act (NEMA) and the National Water Act.

“We can't over-state the significance of this industry to our economy. Mining is not only the backbone of our economy but is the largest employing sector in this country. Our exposure has informed us of the many challenges facing emerging black-owned mining companies that are looking for a foothold into this sector. Exploration costs can be onerous on small mining firms and therefore, it is our hope that the fund will help alleviate the challenges facing Junior mining companies,” said IDC Chief Operations Officer, Joanne Bate.

The fund will be administered and managed by the IDC while the DMRE, supported by the Council for Geoscience, will determine the minerals whose exploration can be funded through this initiative.

The DMRE and the IDC are still finalising modalities as to when the first application window calling for qualifying companies to submit applications for consideration will be made.

Distributed by APO Group on behalf of Department of Mineral Resources and Energy: Republic of South Africa.

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Western Cape on imposed budget cuts

Location: News

Republic Of South Africa: Western Cape Provincial Government
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Joint media release by Premier Alan Winde and Mireille Wenger, Provincial Minister of Finance and Economic Opportunities; National budget process causing budget cuts to health, education, social services and more.

The impact of the nationally imposed budget cuts on healthcare provision, as outlined in an open letter signed by hundreds of health workers, academics, doctors, professors and clinicians this week, is simply devastating.

The excellent work done day in and day out by the vital people who are integral to the lives of millions of South Africans in the face of significant challenges, does not go unnoticed, nor unappreciated. These dedicated public servants are at the very heart of the frontline services relied upon by our residents, especially the most vulnerable in our society.

The implications of the nationally imposed cuts go beyond health care services and have hit education and social development services - and every other provincial department. This is exactly what the Western Cape Government warned of and which it is now fighting to stop and reverse.

“The mission of the Western Cape Government is to do all we can, using all available levers, to cushion these blows. However, the hard truth is that the quantum of the budget cuts is now so large that it will be almost impossible to fully mitigate the loss of funding from the national purse” said Premier Alan Winde.

“The fact is that these budget cuts are beyond the control of the provinces because we rely almost entirely on funding from the nationally collected tax revenue. This is then allocated to each of the nine provinces by the National Treasury through the Provincial Equitable Share (PES), to fund the core constitutional mandates of providing, amongst others, health care, education and social development services,” added provincial Minister of Finance and Economic Opportunities, Mireille Wenger.

In the Western Cape, the PES accounts for approximately 75% of the budget while Conditional Grants amount to approximately 18% of the total budget. These sources, determined by national government, therefore make up the vast majority (93%) of the budget in the Western Cape.

As things stand, a total of R6.7 billion has been reduced from the Western Cape's PES over the 2024 Medium-Term Expenditure Framework (MTEF) over the next three financial years as part of nationally imposed fiscal consolidation. This amounts to more than the total combined budgets of the provincial Departments of Police Oversight and Community Safety, Economic Development and Tourism, and Cultural Affairs and Sport.

Currently, the Department of Health and Wellness receives 37% of the total Western Cape Provincial budget.

“Over and above these devastating reductions, provinces have not been fully compensated by national government for the 2023 public sector wage agreement, that was centrally negotiated without consultation, and unilaterally imposed on provinces” added provincial Minister Wenger.

Only Health and Education received partial funding of the wage agreement of which Health received 70% and Education received 64.5% of what is required, while all other departments/services have had to absorb the full cost of the wage agreement. In total the funding shortfall of the wage agreement amounts to R1.1 billion for the 2022/23 financial year and recurs over the MTEF.

“The impact of these budget cuts will have a direct impact on critical service delivery in the Western Cape and we are doing all we can to protect these services” said provincial Minister Wenger.

Premier Winde went on to emphasise that “This is why, in November last year, we formally declared an intergovernmental dispute (IGD) with the national government, to fight for the residents of this province, particularly the most vulnerable who rely heavily on these services. Our residents must get their fair share of funding. As much as we are fighting for our vulnerable residents, we are also fighting for our public servants like our health professionals so that they can focus on their critical work. As we head into the next phase of the IGD with the mediations upcoming, we will not back down.”

Minister Wenger confirmed that “There are also other serious concerns regarding the PES. As it stands, the latest census data has not been incorporated into the PES calculations. The result of which is that while the Western Cape is the third largest province in South Africa by population, we only get the fifth largest budget allocation.”

“This government is fighting for our residents to protect our frontline services, our children, those who depend on the public health system, and the most vulnerable in our society” concluded provincial Minister Wenger.

Distributed by APO Group on behalf of Republic Of South Africa: Western Cape Provincial Government.

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Industry and Competition Committee Approves World Trade Organisation (WTO) Fisheries Subsidies Ratification

Location: News

Republic of South Africa: The Parliament
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The Portfolio Committee on Trade, Industry and Competition yesterday approved the World Trade Organisation's (WTO) agreement on the ratification of fisheries subsidies.

The Department of Trade, Industry and Competition briefed the committee on the ratification of the agreement and sought the committee's approval to ratify the completed first phase of the agreement, as recommended by Cabinet.

Committee Chairperson Ms Judy Hermans said that implementing the agreement will contribute to a better world by reducing pressure on global fish stocks. In addition, the ratification will allow South Africa to meet the United Nation's sustainable development goal of prohibiting and eliminating certain forms of fisheries subsidies, including those that contribute to illegal, unreported and unregulated (IUU) fishing. Such fishing costs Africa over $2.3 billion in economic losses every year, according to estimates from the African Union Commission.

The meeting also heard that the agreement contributes to environmental sustainability provisions in the South African government's National Development Plan, in particular, sustaining South Africa's marine ecosystem. Furthermore, the sustainable management of global fisheries and fish stocks is in South Africa's interests, in particular, the interests of communities dependent on this resource for their livelihood.

According to the presentation, the first phase of the agreement was adopted by consensus at the WTO's 12th Ministerial Conference, which was held in Geneva in June 2022. It sets new binding, multilateral rules to curb harmful fishing subsidies, which are a key factor in the widespread depletion of the world's fish stocks. The agreement recognises and provides for special and differential treatment to address the needs of developing and least-developed countries, albeit in the form of transitional periods.

The agreement also establishes a fund to provide technical assistance and capacity building to help signatory countries implement the obligations. It further prohibits support for IUU fishing and bans support for fishing overfished stocks, as well as subsidies for fishing on the unregulated high seas.

The committee heard that negotiations on the more contentious issues relating to overfishing and overcapacity will continue in the second phase. This phase of negotiations will focus on delivering a comprehensive agreement at the 13th Ministerial Conference, which will continue this month in Abu Dhabi, in the United Arab Emirates. Such recommendations will cover additional provisions that will address overcapacity and overfishing and are necessary to comply with the mandate of the United Nations SDG 14.6.

The committee also heard that the completed first phase of the agreement is a tool for better fisheries management that will strengthen South African and global sustainable fisheries management systems through transparency requirements. It will also provide a way to improve data collection on the stock status of vulnerable fisheries and on related subsidies.

Vulnerable groups, such as coastal communities and small-scale fishers, who rely heavily on fish as a protein source, will also benefit, as the ratification of the first phase of the WTO Fisheries Subsidies Agreement provides a basis to contribute towards the livelihoods of such communities.

The agreement also contains a dispute settlement provision that will apply generally to disputes under the agreement. As such and for the first time, the agreement brings fisheries management issues within the scope of the WTO's dispute settlement process.

Ms Hermans said the committee considered the agreement, adopted the draft report on the agreement, and recommended that the National Assembly approves the agreement.

Distributed by APO Group on behalf of Republic of South Africa: The Parliament.

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Taking stock of the sixth administration

Location: News

Taking stock of the sixth administration

Thursday’s State of the Nation Address (SONA) to be delivered by President Cyril Ramaphosa will be the last one to be made by the sixth administration.

The President - in his capacity as Head of State and government - will deliver the annual SONA at 7pm, before a joint sitting of the National Assembly (NA) and the National Council of Provinces (NCOP).

Just as individuals usually make a list of their goals at the start of each year, and the steps they need to take to attain them, the SONA similarly sets out government’s key policy objectives as well as deliverables for the year ahead.

The President is expected to reflect on the gains made and the areas that still need attention since the last SONA.

However, having been inaugurated as President on 25 May 2019, President Ramaphosa is also likely to look back on the term of his administration.

According to the Presidency, this administration “took office with a mandate to grow the economy, create employment and reduce poverty.” It was also tasked with putting an end to corruption as well as “restoring the integrity and capability of public institutions.”

Government has over the years made progress in improving the lives of those within the borders of South Africa.

Advancements have been made in the key priorities of growing the economy and job creation, building better lives, making communities safer and fighting crime.

Over the years, irrespective of the administration at the helm, an inclusive economy in which all South Africans can partake in, has and continues to be a top issue for government.

Fixing the economy and load shedding

In order to grow the economy, reliable energy supply is essential and energy security is cited in the country’s Economic Reconstruction and Recovery Plan (ERRP). In July 2022, government launched the Energy Action Plan (EAP). The EAP is a set of steps to be taken to address load shedding.

Government has amended Schedule 2 of the Electricity Regulation Act to remove the licencing requirement for generation projects to accelerate private investment.

By September 2023, more than 100 projects were at various stages of development, representing over 10 000 megawatts of new generation capacity and over R200 billion in private sector investment.

Other steps taken to reform the electricity sector include the tabling of the Electricity Regulation Amendment Bill in Parliament.

In addition, progress continues to be made towards the unbundling of Eskom, with the newly established National Transmission Company of South Africa (NTCSA) obtaining its operating, trading, and import and export licences from the National Energy Regulator of South Africa in September 2023, allowing the company to operate independently from the power utility. This as government works to separate Eskom into the Generation, Distribution and Transmission entities. Last month, Eskom announced the appointment of the National Transmission Company of South Africa board.

This is one of the most important pillars of Eskom’s legal separation which will “create a level playing field to enable competition in electricity generation, as a key step towards energy security,” noted the 'Leave No One Behind 2024 – A Five-Year Review', document released by the Presidency earlier this week.

The sixth administration also oversaw the appointment of Minister in the Presidency for Electricity, Dr Kgosientsho Ramokgopa, in March last year as part of efforts to address power cuts and to expedite government’s work to ensure the full implementation of the EAP.

At a recent media briefing on the implementation of the plan, Ramokgopa said that work continues to address partial load losses – that is, when Eskom’s generating units do not produce the full capacity, they were intended to.

In November 2023, South Africa received the first consignment of 450 gasoline generators donated by the People’s Republic of China. The donation formed part of the Technical Assistance Programme that was entered into in August 2023 during China’s Head of State Visit to South Africa.

Jobs and investment

The ERRP was government’s response to the severe health, social and economic effects of the dreaded COVID-19 pandemic.

Announced in 2020, the plan was founded on engagements among social partners, including government, labour, business and community-based organisations.

October 2023 marked three years since government embarked on the plan, which outlined the actions to rebuild the economy and create jobs in the wake of the pandemic.

The government has put in place the Presidential Youth Employment Initiative (PYEI). Through the initiative announced in 2020, at least 135 000 earning opportunities were secured by young people.

On Tuesday, the President held a presidential youth engagement in Cape Town reflecting on the three years since the initiation of the Presidential Employment Stimulus (PES) and PYEI.

According to the Presidency, the PES and PYEI programmes have “collectively generated over 1.8 million job opportunities and provided livelihood support, predominantly benefiting young individuals”.

The sixth administration also oversaw the successful raising of the R1.2 trillion worth of investments over five years that President Ramaphosa announced in 2018.

Held annually over the past five years, the South Africa Investment Conference (SAIC) surpassed the initial R1.2 trillion target to reach R1.51 trillion in investment pledges. To date, there are concrete results of how the pledges made at the conference are changing lives and creating employment.

The review document notes that of the commitments made, over R500 billion has already flowed into the economy.

Having made pledges continually at the SAIC, Procter &Gamble in November 2023 launched a state-of-the-art production line of Pampers Premium Care which the President attended in Kempton Park in Ekurhuleni.

Another company which pledged R135 million at last year’s SAIC is also making good on its commitment.

In October 2023, energy company, Ener-G-Africa, launched an energy-efficient cook stove manufacturing line in Paarl, and expanded its solar panel production line from 15MW to 500MW capacity.

The company pledged R135 million in the production of small solar PV panels and solar cooking appliances at their women-led production facility in Cape Town.

AfCFTA

President Ramaphosa also oversaw the launch of the African Continental Free Trade Area (AfCFTA) as Chairperson of the African Union, which is currently the largest free trade area in the world. The AfCFTA which entered into force in May 2019, is expected to boost trade and economic growth on the continent.

Trading under the AfCFTA regime commenced January 2021 and last month South Africa practically realised the AfCFTA agreement. This as the President officiated the launch of the first export shipment of goods produced by South African companies destined for other African countries from KwaZulu-Natal’s Durban port.

Better lives and education

On building better lives, the current administration introduced the National Minimum Wage (NMW) for the first time in the country’s history, guaranteeing a minimum floor below which no worker may be paid with the coming into effect of the minimum wage on 1 January 2019.

The President had announced its coming into effect in December 2018.

Back in 2019, the minimum wage was set at R20 an hour and has increased over the years. Currently standing at R25,42 the minimum wage will increase to R27,58 for each ordinary hour worked with effect from 1 March 2024.

Click here for more on the “National minimum wage increases”.

To ensure healthcare for all, Parliament passed the National Health Insurance (NHI) Bill last year after it was introduced in 2019. The Bill aims to provide free health care at the point of care for all South Africans. In preparation for the NHI, Health Patient Registration Systems have been installed in over 3 200 facilities.

Meanwhile, social grants for people most affected by COVID-19 were expanded, including the Special Social Relief of Distress (SRD) Grant, which reached around 11 million unemployed people.

On the education front, no-fee schools which government introduced in 2007 have continued to ensure that children get access to schooling. To date, the number of learners that are not required to pay school fees increased from 71% to 75% in 2021.

In addition, the latest matric pass rate, at 82.9%, is the highest ever, up from 78% ten years ago. Learners from no-fee paying schools accounted for more than 65% of the total bachelor passes obtained. The percentage of learners who completed 12 years of education rose from 45% in 2008 to 62% in 2022.

Safer communities

The sixth administration has increased the number of police officers including the recruitment of  20 000 police trainees and  an additional 4 000 public order policing members in 2022 and 2023.

In addition, 20 specialised South African Police Service Economic Infrastructure Task Teams have been established to work with business, private security and state-owned enterprises to tackle illegal mining, construction site extortion, cable theft and vandalism of economic infrastructure.

The review noted that by November 2023, the teams had made over 4 000 arrests for damage of critical infrastructure, 70 arrests for extortion at construction sites and over 3 000 arrests for illegal mining, and confiscated significant quantities of copper cable, rail tracks and other metals.

Government also launched the Border Management Authority as the third armed force to manage and secure the country’s borders, providing a vital link in government’s efforts to harness the benefits of the African Continental Free Trade Area.

On tackling gender-based violence and femicide(GBV), he National Strategic Plan on Gender-based Violence was developed, together with civil society, as a society-wide response to this national emergency. Around R21 billion has been dedicated over the medium term to the implementation of the six pillars of the plan, including the economic empowerment of women.

Meanwhile, the National Prosecuting Authority (NPA) has achieved an average conviction rate of 94% in femicide prosecutions and 75% in sexual offences prosecutions since 2019.

In addition, the GBVF Response Fund 1 was launched, which raised R200 million from the private sector for community-based organisations combating GBV. In the first year of the Fund’s operation, 53 community-based organisations were funded, reaching 280 000 participants.

Fighting corruption

The NPA Investigating Directorate was established to prosecute state capture and other significant corruption cases.

To date, the Investigating Directorate has taken 34 state capture and corruption cases to court, involving 203 accused persons and 65 accused entities. The NPA has also secured the conviction of over 500 government officials and nearly 800 in the private sector on offences related to corruption since 2019.

In addition, a SIU Special Tribunal was appointed to expedite civil claims against corrupt individuals and the recovery of stolen funds. Since its establishment, it has recovered over R8.6 billion.

As the country prepares for its 30 years of freedom celebration, the sixth administration has certainly done its bit in a challenging environment. -SAnews.gov.za

Neo
Wed, 02/07/2024 - 15:11

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SA to advance the African agenda with focus on AfCFTA

Location: News

SA to advance the African agenda with focus on AfCFTA

South Africa places great importance on the African Union (AU) Summits, as the country forges ahead with its foreign policy of the advancement of the African agenda.

This is according to International Relations and Cooperation Minister, Dr Naledi Pandor, who was briefing the media on Wednesday on developments in her department. 

The summit, which will take place on 17 and 18 February in Addis Ababa in Ethiopia, will focus on education. 

Last year, the AU finalised a 10-year review of Agenda 2063.  

A key recommendation, Pandor explained, is that the AU Member States must accelerate the implementation of the Agenda 2063 flagship projects that are aimed specifically at fast-tracking continental integration. 

The project particularly focuses on trade and market integration, free movement of people and infrastructure development.  

However, top of the agenda is the operationalisation of the African Continental Free Trade Agreement (AfCFTA), in which South Africa is playing a leading role.

“We are especially pleased that President [Cyril] Ramaphosa will officially witness the launch of South Africa’s first shipment and preferential trading under the AfCFTA on 31 January 2024, at the Port of Durban,” she said.

President Ramaphosa is expected to attend and participate in several high-level committee meetings of the Assembly. 

These include the meeting of the Committee of African Heads of State and Government on Climate Change (CAHOSCC), which will be held to reaffirm Africa’s position on climate change as advocated during the Conference of the Parties (COP28) held in the United Arab Emirates last year.

In his capacity as the Chairperson of the Presidential Infrastructure Championing Initiative, the country’s First Citizen annually hosts a meeting on the margins of the AU Summit to provide a progress report on infrastructure projects.  

The initiative aims to enhance infrastructure development in sectors such as transport, information communication and technology, water and sanitation, and energy in South Africa and throughout the region and continent. 

These areas, she said, are critical to the implementation of the AfCFTA.

The President is also expected to chair a high-level meeting of the Committee of Five (C5) on South Sudan to review and provide political guidance on the progress made in the implementation of the revitalised agreement on the resolution of conflict in South Sudan.

BRICS

She also announced that Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have confirmed they are joining the BRICS (Brazil, Russia, India, China and South Africa) bloc after being invited to last year. 

“However, you’d be aware that Argentina has written to indicate that they will not act on this successful application by the previous administration to become full members of BRICS. And we accept their decision, particularly given that 30 countries have now written to Russia, expressing interest in becoming members.” 

NAM Summit

The Minister also touched on the recent summits of the Heads of State and Government of the Non-Aligned Movement (NAM) and the Group of 77 and China, convened in Uganda, last month. 

She told journalists that the NAM Summit identified five priority areas. 

These include regional and international peace and security; the fight against terrorism; migration and humanitarian crises; human trafficking; and the Sustainable Developmental Goals.  

“In his statement to the NAM, President Ramaphosa confirmed that South Africa will remain steadfast in advancing its non-aligned approach to the maintenance of international peace and security by advocating for the peaceful political settlement of disputes and inclusive dialogue.”  

Following the NAM meeting, Pandor led the South African delegation to the G77 and China Summit. 

The G77 and China Summit is the largest negotiating bloc in the United Nations (UN) representing most developing countries and over 80% of the world’s population.  

“The focus of the summit was on South-South cooperation in the areas of trade, investment, sustainable development, climate change, poverty eradication, and the digital economy,” she explained. – SAnews.gov.za

 

Gabisile
Thu, 02/01/2024 - 12:52

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NSFAS financial aid application deadline extended

Location: News

NSFAS financial aid application deadline extended

The National Student Financial Aid Scheme (NSFAS) board has extended the deadline for applications for student financial aid to 15 February 2023.

The decision was taken during a meeting between the NSFAS board and the South African Union of Students (SAUS).

The NSFAS board, led by Acting Board Chairperson Professor Laurens Van Staden, met with the South African Union of Students (SAUS) Executive, led by President Yandisa Ndzoyiya, to discuss NSFAS’s state of readiness for the beginning of the academic year, where the parties agreed on the extension of the 2024 bursary application period. 

The meeting also agreed that the NSFAS Loan Scheme will be opened on 2 February 2024 and close on 15 February 2024. 

The new Comprehensive Student Funding Model aims to support students including those currently not supported by NSFAS bursary and funding policy. 

This category includes students who come from families who have a total income of more than R350 000, but not more than R600 000 per annum.

In a joint statement issued on Thursday, the parties agreed that students who have already applied for the NSFAS bursary scheme need not submit a new application for the student loan scheme. 

“All students who did not meet the bursary scheme eligibility criteria, however, meet the loan scheme eligibility criteria, will be automatically offered a loan for their consideration,” the statement said. 

Prospective loan scheme applicants can apply through an online application form, where they create a profile, apply, and submit the application. 

The application form can be accessed on the NSFAS website on www.nsfas.org.za.

In order to qualify for the loan, students should meet the following criteria:
• Students whose annual household income is between R350 000-R600 000;
• TVET and university (public) students;
• Undergraduate or postgraduate students;
• 70% Science, technology, engineering and mathematics (STEM) programmes (which
may be adjusted to include commercial programmes that are in demand in the labour
market or entrepreneurial programmes);
• 30% Social Sciences programmes; and
• Students willing to sign a loan agreement.

NSFAS reminded all applicants for both the bursary scheme and the loan scheme to submit a consent form to verify relevant information from third parties. 

“The information is required to verify the employment status and income level of the parents, guardians, or spouses of the applicant. It is mandatory for applicants to download and upload a completed Consent form on the NSFAS website, portal, or mobile app,” Van Staden said.

1 745 applications received

Meanwhile, NSFAS has received 1 745 226 applications, as of 30 January 2024.

The scheme said of the 1 745 226 applications, 940 682 are provisionally funded, 269 915 are awaiting evaluations, while 48 643 have been withdrawn by the student;  232 559 are in in progress, and 136 531 applications on the not-started status, as applicants only created profiles and did not submit applications.

“NSFAS has rejected 102 201 applications;1 093 appeals have been lodged so far,” Van Staden said.

The meeting agreed that funding decisions will continue to be communicated, as and when applications are processed, and that the application portal will continue to be updated upon confirmation of the funding decision. 

Institutions have been encouraged to continuously check the updates on the NSFAS applications portal on funding decisions, which will also cover allowance types that students have qualified for.

“NSFAS will upon making the funding decisions commence with the appeals process in order to ensure that appeals decisions are communicated to students and the institutions on time.” – SAnews.gov.za

 

GabiK
Thu, 02/01/2024 - 15:34

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SA sends first shipment under AfCFTA agreement

Location: News

SA sends first shipment under AfCFTA agreement

The implementation of the preferential trading under the African Continental Free Trade Area (AfCFTA) has become a reality with South Africa sending its first shipment of products to other countries trading under the agreement.

South Africa is the first among the Southern African Customs Union (SACU) member states, which consists of Botswana, Lesotho, Namibia, South Africa, and Swaziland, to practically realise the AfCFTA Agreement.

“For South Africa, as with many other African countries, the start of preferential trade will create great opportunities for growth and development. Not only will it benefit our country’s producers, but it will also see a huge increase in traffic through our ports, our airports and our land-based border posts.

“The products made in Gauteng, Limpopo, North West, Free State, Mpumalanga and the Northern Cape will flow through these ports to markets beyond our borders,” President Cyril Ramaphosa said on Wednesday in Durban.

Officiating the launch of South Africa's first shipment and preferential trading under the AfCFTA, the President said the levels of intra-African trade have been growing in recent years, but remain small by global standards.

Intra-Africa exports are reported to stand at around 16% of Africa’s total exports, compared to 55% in Asia, 49% in North America and 63% in the European Union.

“African countries trade with the rest of the world but we have limited trade among ourselves. The reason for this is clear: we are principally exporters of raw materials, selling rocks and black liquid to the world, instead of harnessing our oil and the minerals to industrialise our continent. We need to change this.

“We have a unique opportunity to lift millions of people out of poverty by empowering women and young people to change the continent’s business environment. That is why, as the South African government, we are focused on implementing our Freight Logistics Roadmap to improve the efficiency and competitiveness of the country’s rail lines and ports,” the President said.

He said government is working closely with industry to fix Transnet’s rail and port operations in the immediate term and to ensure greater investment in infrastructure into the future.

“Over the last few years, our trade ministers have been finalising rules of origin of what constitutes an African product. They have done well to finalise 92% of the products that nations trade with each other. We need them to be even bolder in further rules of origin. The products that we trade among ourselves must truly be ‘Made in Africa’.

"The modalities for trade in goods has moved faster than for services. We therefore need to put more effort into building African champions in finance, retail and telecommunications, and in expanding tourism between African countries. That is the only way in which our economies will grow faster and sustainably,” President Ramaphosa said.

The African Continental Free Trade Area creates the world’s largest free trade area by number of countries, and has the potential to bring transformative change and tremendous opportunities to African economies and businesses.

The President said the implementation of the agreement will accelerate the development of regional and local value chains, offering investors access to a population of 1.7 billion people with a fast-growing continental gross domestic product (GDP).

“Industrial development is core to Africa’s integration. It builds Africa’s productive capacities, adds greater value to our products and diversifies trade beyond the traditional commodities. We have already seen the potential of greater cross-border collaboration.

“South African automotive companies source leather car seats from a factory in Lesotho employing close to a thousand workers and wiring harnesses from Botswana at two plants employing several thousand workers,” Ramaphosa said.

They source copper wire from Zambia, rubber from Cote d’Ivoire, Nigeria, Malawi, Ghana and Cameroon, and steering wheel components from Tunisia.

“These are installed in cars that are then exported from South Africa to other parts of the world. These inputs alone accounted for more than $200 million worth of products traded among African countries and the scope to do more is available to us.

“But it requires bold rules of origin. For every one percent of extra African content, there is an opportunity for a factory or mine based on the continent to supply the products. And as the world moves to green industrialisation, Africa is well positioned to use our critical minerals to leverage industrialisation on the continent,” the President said.

He said the opportunities are vast, with prospects in food and beverages, in cars and trucks, in clothing and textiles.

“We have the capacity to produce more of our own pharmaceutical products and medical equipment. Investment can flow to the production of chemicals, machinery and equipment, household goods and many, many more.

“Beyond the industrialisation of which I have spoken, this continental market can help us promote agricultural development and food security. Through our work, we can ensure that young people and women-owned firms are active in export markets,” the President said.

He said the Protocol on Women and Youth in Trade will help ensure that the African Continental Free Trade Area contributes to inclusive growth and development. – SAnews.gov.za

nosihle
Wed, 01/31/2024 - 13:15

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President to officiate launch of SA’s first shipment under AfCFTA

Location: News

President to officiate launch of SA’s first shipment under AfCFTA

President Cyril Ramaphosa will on Wednesday officiate the launch of South Africa's first shipment and preferential trading under the African Continental Free Trade Area (AfCFTA).

The launch ceremony will take place at the Port of Durban and occurs on the margins of the 13th AfCFTA Council of Ministers meeting to be held at the Inkosi Albert Luthuli International Convention Centre from 30 - 31 January 2024.

South Africa is the first among the four Southern African Customs Union (SACU) countries to practically realise the AfCFTA agreement.

The 37th African Union Ordinary Session of the Assembly of Heads of State and Government will, at its annual convention next month, take stock of the progress made thus far in the implementation of the AfCFTA.

The successful implementation of the AfCFTA is expected to lead to diversification of exports, increased productive capacity, acceleration of growth, increased investment, increased employment opportunities and incomes and most importantly, broaden economic inclusion both in South Africa and the rest of the continent.

It provides South African exporters with new market access opportunities to key markets in the African continent and can unlock growth.

President Ramaphosa will be joined by the Minister of Trade, Industry and Competition, Ebrahim Patel; KwaZulu-Natal Premier Nomusa Dube-Ncube and AfCFTA Secretary General Wamkele Mene. Other dignitaries will include the AfCFTA Council of Ministers, who will witness the first shipment of Proudly South African products exported to the continent.

The Department of Trade, Industry and Competition said the launch ceremony will be a historic step and an instrumental tool in generating meaningful trade on the African continent through the shipment of made-in-South Africa products.

“The main message being sent to Africa and the rest of the world through this event is to illustrate that companies can trade under the AfCFTA procedures to expand their markets within a legally binding framework,” the department said. – SAnews.gov.za

Edwin
Mon, 01/29/2024 - 10:59

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Read morePresident to officiate launch of SA’s first shipment under AfCFTA

LG To Showcase LG Business Cloud At ISE 2024

Location: MyPR

Suitable for Both Small Businesses and Large Enterprises, New Cloud-based Platform Streamlines Management of LG Digital Signage Solutions BARCELONA, Jan. 26, 2024 — LG Electronics (LG) is set to unveil its innovative cloud solution platform, LG Business Cloud, at Integrated Systems Europe (ISE) 2024. The convenient, new platform allows business customers to browse and subscribe …

Read moreLG To Showcase LG Business Cloud At ISE 2024

South Africa’s Progressive Business Forum honours Afreximbank board member Ronnie Ntuli with Lifetime Achievement Award

Location: Business

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African Export-Import Bank (Afreximbank) (www.Afreximbank.com) is pleased to announce that its board member, Mr. Ronnie Ntuli has been awarded the Progressive Business Forum's (PBF) prestigious Lifetime Achievement Award and was presented with the accolade at the Presidential Gala Dinner and special celebrations that marked three decades of democracy in South Africa.

The award, which was presented at the PBF's inaugural “Show Up” awards ceremony, recognizes and celebrates individuals who have distinguished themselves in business, public service and, through their commercial, entrepreneurial and civic ventures. It also recognizes those who have acted to improve the common good and promote the wellbeing of others.

Mr Ntuli's receipt of this award constitutes a recognition of his extraordinary contribution to the expansion of Southern Africa's rail network and his application of engineering expertise to continental transport and logistics assets. Mr Ntuli founded and established the Thelo Group, as one of the continent's eminent financiers of railway infrastructure and rolling stock, and the region's most significant supporters of industrial development and high-value exports.

Further to these economic contributions, Ronnie has served his country and continent through extensive advisory work for a range of African Heads of State, where he has leveraged his unrivalled financial and engineering experience – as well as his background in Law – to help decision-makers devise policies and strategies to accelerate economic development and entrepreneurship.

Afreximbank President and Chairman of the Board of Directors, Prof. Benedict Oramah, commented:

I am delighted that my dear friend, and much-trusted advisor on Afreximbank's Board, Mr. Ronnie Ntuli, has been recognized by the Progressive Business Forum for his decades of work on this continent. As both businessman and advisor, Ronnie's contribution to our shared prosperity and development is quite simply incalculable. His counsel has been indispensable to the Bank, particularly as we navigated the challenges of implementing the African Continental Free Trade Area agreement.”

Distributed by APO Group on behalf of Afreximbank.

About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of September 2023, Afreximbank's total assets and guarantees stood at over US$33.4 billion, and its shareholder funds amounted to US$5.8 billion. The Bank disbursed more than US$104 billion between 2016 and 2023. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

Read moreSouth Africa’s Progressive Business Forum honours Afreximbank board member Ronnie Ntuli with Lifetime Achievement Award

Zulu congratulates social grant beneficiaries for passing Grade 12 

Location: News

Zulu congratulates social grant beneficiaries for passing Grade 12 

Social Development Minister Lindiwe Zulu has praised the Grade 12 students, who benefit from Social Development services and have successfully completed the 2023 National Senior Certificate (NSC) exams.

Of the 897 775 Grade 12 learners who wrote their NSC, 543 786 full-time learners were social grant beneficiaries, with 62 out of 110 social grant beneficiaries amongst the top performing learners in different categories, as awarded by the Department of Basic Education (DBE). 

According to the department, social grant beneficiaries formed the largest number of learners who wrote their 2023 National Senior Certificate and 441 871 learners passed the NSC examinations which is an overall pass rate of 82.9%. 

About 202 156 received a Bachelor's pass, which gains them access to institutions of higher learning, with 160 326 distinctions.  

The Minister said that the child support grant formed the biggest grant type received by these learners, with the majority of them from KwaZulu-Natal, the second-best performing province after Free State.

The South African Constitution, through the Child Justice Act, also obligates the state to provide care and support services to children in conflict with the law, including educational opportunities. 

According to the data from the Departments of Basic Education and Social Development, 1 630 children in conflict with the law  registered for the 2023 NSC. 
 
“Providing educational opportunities for children in conflict with the law is a key element of rehabilitating and re-integrating them back into society. The United Nations Convention on the Rights of the Child (the CRC), which South Africa ratified in 1995, recognises the importance of education for children in conflict with the law,” Zulu said.  

The Minister detailed that the Social Development sector has been integrating the social protection administrative data system to ensure better coordination of services and tracking of health and educational outcomes for beneficiaries of various government services aimed at tackling child and adult poverty. 

She asserted that the linking and sharing of administrative data systems within the social cluster departments - Social Development, SASSA, Department of Basic Education, and NSFAS - ensure information is shared on the academic performance of social grant beneficiaries.

“One such success story of the benefits of linking and sharing of data systems was the agreement between Social Development and NSFAS on the exemption of social grants beneficiaries from the means test, a decision that has significantly bridged the higher education gap as it opened the doors of learning for many, regardless of their socioeconomic background,” the Minister said. 

Zulu emphasised that education has the power to break the cycle of poverty and transform lives. By accessing education opportunities at institutions of higher learning, she said, many social grants beneficiaries have succeeded in creating a better future for themselves and their families, thus breaking the intergenerational cycle of poverty and inequality. 

“The benefits of social grants extend beyond individual beneficiaries to broader society. Our government’s pro-poor policies such as our social assistance programme, no-fee schools, school nutrition, school uniforms, free health care including sanitary dignity packs have made significant impact over the past 30 years in reducing poverty by bridging the education gap for learners from impoverished backgrounds. We will continue to build on the success of these impactful interventions that have lifted many of our people out of poverty," Zulu said. – SAnews.gov.za

DikelediM
Mon, 01/22/2024 - 12:10

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Read moreZulu congratulates social grant beneficiaries for passing Grade 12 

Nzimande announces R3.8bn funding for ‘missing middle’ students

Location: News

Nzimande announces R3.8bn funding for ‘missing middle’ students

Higher Education, Science and Innovation Minister, Professor Blade Nzimande, has revealed that government has set aside a R3.8 billion initial capitalisation fund to support “missing middle” students.

The new Comprehensive Student Funding Model aims to support students including those currently not supported by the National Financial Aid Scheme (NSFAS) bursary and funding policy. 

This category of students is those who come from families who have a total income of more than R350 000, but not more than R600 000 per annum.

Nzimande, who was addressing the media on Sunday, revealed that the funding model is divided into two phases.

Phase one begins this year, 2024/2025, with the State committing the initial capitalisation fund totalling R3.8 billion to support the loan scheme. 

This amount comprises R1.5 billion from the National Skills Fund (NSF) and R2.3 billion from Sector Education and Training Authorities (SETAs). 

“This amount will fund 47% of the missing middle students, that is, 31 884 of the estimated 68 446 missing middle,” he said at the media briefing held in Pretoria. 

“We have also committed funds to revive NSFAS ICT [information and communications technology] systems, including the loan system.”

On implementing the scheme, he said his department has so far consulted with the National Treasury, university Vice-Chancellors and student leaders. 

“Further workshops will be held with the registrars and student financial officers once NSFAS has obtained Board approval for the funding guidelines.”

Second phase

Meanwhile, the department is working around the clock to implement the second phase of the funding model from next year to 2034.

“The department will ensure that the seed funding contribution by government is increased to R31.6 billion to R42.1 billion over 10 years. This is approximately R3.1 billion to R4.2 billion annually."

Criteria and expansion

“Together with the National Treasury, we will continue to engage with relevant institutions, including public and private financial institutions to expand the scheme.” 

To qualify for the loan, students should meet the following criteria:

•    Students whose annual household income is between R350 000 to R600 000;
•    Technical Vocational Education and Training (TVET) and public university students;
•    Undergraduate or postgraduate students;
•    70% science, technology, engineering and mathematics (STEM) programmes (which may be adjusted to include commercial programmes that are in demand in the labour market or entrepreneurial programmes);
•    30% Humanities programmes; 
•    Students willing to sign a loan agreement;
•    Students can apply for the loan in the first, second or third year to continue to be funded through the loan; 
• Students are expected to get an average of 60% pass rate and the loan will cover tuition, learning material and accommodation; 
•    Students who obtain 70% or above on average and within the prescribed time will get a 50% reduction on loans on request.

Nzimande has described this move as “yet another important milestone in the commitments of the ANC-led government to advance a better life for all as we celebrate 30 years of freedom”.

The loan scheme will be administered by NSFAS which has the legal mandate to offer student loans as per Section 4 of NSFAS Act 1999. 

“NSFAS represents one of the most progressive and successful efforts by the government to systematically break the legacies of inter-generational social inequality in access post-school education and training.”

Between 2019 and 2022, NSFAS has disbursed R123 billion distributed across 2 918 624 beneficiaries. – SAnews.gov.za

 

Gabisile
Mon, 01/15/2024 - 09:43

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Read moreNzimande announces R3.8bn funding for ‘missing middle’ students

New Year Address from Rugby Africa President, Herbert Mensah

Location: Sport
Rugby Africa

Herbert Mensah, President of Rugby Africa (www.RugbyAfrique.com), the continental governing body of rugby across Africa, issues end of year message reflecting on 2023:

Amidst our joyful farewell to 2023, I am thrilled to share my reflections as the President of Rugby Africa, the continental governing body of rugby in Africa. Together, our collective accomplishments have not only defined this year but have also laid a foundation for the promising future of Rugby Africa.

Milestones and Achievements

As we reflect on the remarkable journey of the past nine months, it is with immense pride that I share the highlights of our accomplishments. From the success of the Rugby Africa Women's tournament in Madagascar to the significant Rugby Africa Men's Olympic qualification tournament in Zimbabwe, the thrilling Rugby Sevens tournament in Mauritius, and the vibrant scene in Tunisia's Monastir, our efforts have truly shone on the rugby stage. Notably, a significant portion of our achievements this year has been dedicated to francophone countries. We celebrate the re-admittance of Nasser Bougja as Vice President, the return of the Moroccan Rugby Federation to Rugby Africa, an established pathway solution for Cameroon, Ghana and management of other upcoming elective Annual General Assemblies and the momentous milestone of signing the long-awaited agreement with the French Development Agency (AFD) to foster the development of women's rugby in Africa.

We have addressed administrative challenges by rectifying loose agreements within Rugby Africa that were either uncontracted or unpaid. Internally, administrative efficiency has been enhanced with the establishment of committees, each equipped with clear terms of reference and KPIs for committee members. Looking ahead, we are committed to annual reassessments, ensuring that our committees maintain the highest standards of performance. It's important to note that accountability remains a cornerstone, and those unable to meet expectations will be subject to be reassigned from their roles.

Commitment to Progress

As President of Rugby Africa, I continue to call for a mindset change recognizing that sport is big business. This plea heralds a new era, challenging the status quo with a comprehensive constitutional review—a ground breaking initiative unprecedented in our history. This review, initiated by Rugby Africa through the Executive Committee, involves input from various committees, our judicial council, external legal experts and a final presentation to member unions for ratification. This transformative process signifies our commitment to transparency and progress, setting a new standard for Rugby Africa.

Strategic Planning

We have successfully developed and received approval for our strategic plan, a blueprint aimed at providing financial support to all 39 member unions of Rugby Africa. Considering the limited funding from World Rugby, which primarily supports 21 out of the 39 Rugby Africa member unions, this strategic plan is a significant milestone for Rugby Africa. The plan, meticulously reviewed and presented across our committees, places a strong emphasis on securing financial backing to ensure that all Rugby Africa member unions have the necessary support to play competitively and thrive in the world of rugby.

Financial Initiatives

In a strategic effort to maximize our resources, Rugby Africa has introduced a series of financial initiatives. For the first time ever, hosts are now entrusted with covering all hosting grants- a move anticipated to result in cost savings. Guided by our Competition Manager, Johnbosco, calculations are underway to access the potential impact of these changes. Furthermore, Rugby Africa is in discussions for multiple sponsorship opportunities, with an official announcement expected mid 2024. These initiatives underscore Rugby Africa's commitment to foster more opportunities for rugby across the continent, reshape competitions and elevating the overall rugby experience. Among our own initiatives, we remain hopeful to receive greater levels of financial support from World Rugby, to further support our development and advance the growth of rugby in Africa.

Unity Among Unions

We approach the future with a sense of optimism and gratitude. My sincere appreciation goes to all the unions that have embraced the challenges. In Southern Africa, Lesotho, Eswatini, Mozambique and Botswana, have successfully organized a spirited competition, reflecting the true spirit of rugby. Burkina Faso actively engaged in a Seven's competition, demonstrating their dedication to the sport. Guinea participated in an international match with Sierra Leone, fostering unity in our rugby community. Over the past two months, Ghana has actively engaged in matches with Benin and Togo. Beyond borders, collaborative efforts between Rwanda, Burundi and Tanzania are gaining momentum as they work towards organizing their own competitions. I was particularly enthused by the huge efforts of Uganda's test matches in Tunisia and Algeria's proposed test match against Senegal. Furthermore, the 2023 Indian Ocean Island Games hosted by Madagascar, with countries such as Mauritius participating, provided an additional opportunity for increased game time. I am deeply grateful for the collective enthusiasm displayed by the unions across the continent. Together, as a federation, we are charting a path of enthusiasm and progress in the world of rugby.

Acknowledgement and Gratitude

I extend my heartfelt gratitude to APO Group, South Africa Rugby Union, French Rugby Federation (FFR), French Development Agency (AFD), and World Flair for their invaluable support. Their commitment and collaboration have provided us with a powerful platform to champion our firm belief that the development of rugby in Africa is not just a sport but an investment in the future of the continent. Together, with the support our partners, we are building a foundation for the growth of rugby, fostering community engagement, and contributing to the overall development and well-being of Africa. Thank you for your unwavering dedication to this shared vision. This year, Rugby Africa has asserted itself on the global stage, making it abundantly clear that Africa is key player in the world of rugby. During the Bloomberg Gateway Conference in Morocco, our message reached an audience of over 3.5 million people, emphasizing the vast business opportunities inherent in investing in rugby across Africa, showcasing our continent at the forefront in the global marketplace. At the Africa Investment Forum in Marrakesh, I had the privilege of engaging in discussions with the President of the African Development Bank, highlighting rugby's potential to drive economic growth through investment opportunities emerging from the continent itself. These events are instrumental in shaping Rugby Africa's global positioning, paving the way to a future where rugby across Africa can ascend to new heights.

We continue to ask ALL to accept a mindset shift to give the opportunity of sports (Rugby) a chance. Sport is NOT a charity it is BIG business!

Reflections and Greetings

A substantial amount of work has been accomplished by members of the executive committee, along with dedicated efforts of staff members and myself. As President of Rugby Africa, I believe it becomes evident that 2023 has been dedicated to laying the foundational groundwork. We anticipate that the fruits of our labour will begin to manifest from the second half of 2024 onwards. In extending my sincere gratitude, I wish season's greetings to everyone, embracing the diversity of religious traditions that enrich our continent. This is a time for unity, for coming together, breaking bread, and celebrating the strides we made collectively.

God be with all of us!

Herbert Mensah
President of Rugby Africa

Download official letter here: https://apo-opa.co/3SdGAsV

Distributed by APO Group on behalf of Rugby Africa.

Media contact:
Nicole Vervelde
Communications Advisor to the President of Rugby Africa
rugby@apo-opa.com

About Rugby Africa:
Rugby Africa (www.RugbyAfrique.com) is the continental governing body of rugby in Africa and one of the regional associations under World Rugby. It unites all African countries that play rugby union, rugby sevens, and women's rugby. Rugby Africa organizes various competitions, including the qualifying tournaments for the Rugby World Cup and the Africa Sevens, a qualifying competition for the Olympic Games. With 39 member unions, Rugby Africa is dedicated to promoting and developing rugby across the continent. World Rugby highlighted Ghana, Nigeria and Zambia as three of the six emerging nations experiencing strong growth in rugby.

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Borrow money wisely this January, National Credit Regulator advises

Location: News

Borrow money wisely this January, National Credit Regulator advises

January can be a difficult month, especially for those who did not budget and/or spend wisely over the festive season. 

According to the National Credit Regulator (NCR), many people are paid earlier in December and they wait long until the next payday in January. 

“This long wait leads to very empty pockets and many unpaid bills, as these consumers start the year on a tough note. Consequently, many are being forced into taking excessive credit as the only option to pay for necessities like rent or mortgage, food, school fees, stationery and so on,” the regulator said. 

The NCR’s Education and Communications Manager, Poppy Kweyama, said in addition to the high cost of living, consumers might need to borrow excessively at this time of the year because of poor budgeting and last year’s reckless spending.

Citing the NCR’s statistics for the quarter ended September 2023, Kweyama said there has been an increase quarter-on-quarter of impaired accounts. 

To avoid an impaired credit record, consumers are advised to borrow wisely and responsibly and restrict credit to only what is necessary. 

She added that during this time of the year, some consumers are desperate for financial assistance and may take out loans recklessly, even from unscrupulous credit providers. 

The NCR has implored consumers who find themselves in this situation to be credit-smart and avoid resorting to unregistered credit providers. 

She advised consumers to borrow only from registered credit providers and only as much as they need and only when they need to. 

According to the expert, it is also crucial to plan how to repay the loans, and most importantly determine whether they can afford the repayments. 

The NCR also encourages consumers to understand their credit agreements and the terms and conditions (Ts and Cs) before signing. 

“Don’t sign if you don’t understand the Ts and Cs. Always ask for clarity and never pay an upfront fee. 

“Never leave your ID or bank card with a credit provider in exchange for a loan. Not only is this practice illegal, but remember, to register and exercise your vote in the 2024 elections, you need to have your ID,” Kweyama cautioned. 

Credit is expensive, said the NCR, and it advised people to familiarise themselves with the fees associated with the credit. 

According to the National Credit Act (NCA), consumers can only be charged the following fees when taking up credit:

 • Initiation fees – This is a fee that a credit provider charges a consumer for entering into a credit agreement. The credit provider must give the consumer an option of paying this fee separately and once off. In doing so, no interest may be charged on the fee. Initiation fees are regulated by the NCA. Standard initiation fees for credit facilities, short term credit transactions and unsecured credit transactions, per the NCA, is R165 per credit agreement plus 10% of the amount over R1 000 but the maximum initiation fee should not exceed R1 050.

• Interest rate – Interest is the amount that a credit provider charges a consumer on the outstanding balance of a credit agreement and is regulated by the NCA.

• Service fees – The fee that a credit provider charges for servicing and administering or maintaining the credit agreement. The credit provider can charge this fee monthly. Service fees can also be charged per transaction. The maximum monthly service fee under Section 105 of the NCA is R60.

• Credit Life Insurance – This is insurance which can be required by the credit provider when a consumer applies for credit. The insurance covers the debt due to the credit provider in certain cases such as retrenchment, disability or even death of the consumer. The insurance cover taken may not exceed the outstanding obligation to the credit provider.

• Other costs will depend on what you are purchasing as the consumer such as delivery costs. – SAnews.gov.za

 

Gabisile
Wed, 01/10/2024 - 09:39

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Read moreBorrow money wisely this January, National Credit Regulator advises

Community insurance 101 for body corporates and homeowners’ associations

Location: MyPR

Data from the 14,000 communities managed by property management software company WEconnectU, shows that 20-30% of property owners in sectional title schemes and homeowners’ associations (HOAs) are currently behind on their levies – and the resulting cashflow shortage is making it difficult for the HOAs and the sectional title body corporates (BCs) to effectively maintain …

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