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You are here: Home / Archives for agriculture

agriculture

25 January 2024

Verdant Capital advises USPlus on EUR 2 million debt capital raise

Location: Business
Verdant Capital

Verdant Capital (www.Verdant-Cap.com) is pleased to announce that it has facilitated and advised on the raising of EUR 2 million of debt funding for US Plus Limited (“UsPlus”), an innovative specialist SME financing firm based in South Africa.

The funding increases UsPlus' capacity to finance SMEs in South Africa, thereby contributing to the country's development agenda.  The new funding further broadens the institutional funding base of UsPlus following the USD 10 million debt capital raise completed by Verdant Capital in 2022 and building on the Domestic Medium Term Programme registered on the Johannesburg Stock Exchange.

Studies show that SMEs contribute close to 30% of employment in South Africa, but most of these SMEs do not survive beyond 5 years due to a number of causes, of which lack of funding is a leading factor. Most SMEs are self-funded and struggle to access funds at various stages in their operation. The South African government, under its National Development Plan 2030, is looking to SMEs to help achieve its objective of creating 11 million jobs by 2030. Against this backdrop, UsPlus has been operating since 2015, specialising in the provision of tailor-made working capital finance solutions to SMEs through the purchase of transferable instruments such as invoices, purchase orders and contracts issued by or to its SME clients. This convenient and cost-effective solution gives SMEs access to funding to manage working capital and maximise profits.  Verdant Capital has acted as an important catalyst for funding SME clients in South Africa and across the African continent.

Since its establishment, UsPlus has deployed over ZAR 3.7 billion (approx. USD 196 million) in working capital to SMEs. Its clients are actively engaged in over 25 industries, including agriculture and film production. UsPlus focuses on social, economic and environmental impact and works with SMEs that contribute to employment in South Africa, the upliftment of black-owned enterprises, women-owned enterprises and rurally located enterprises. Furthermore, the company is guided by the International Finance Cooperation's Exclusion List and does not support businesses which operate within this list. UsPlus' success stems from its highly experienced management team and technology-enabled operations, which 1) help meet customers at their point of need, 2) enhance client service experience, and 3) help manage business risk.

Verdant Capital has a strong funding pipeline for UsPlus which will continue to support the successes of the business.

Verdant Capital was the sole advisor and arranger of UsPlus' International debt capital raise.  

Distributed by APO Group on behalf of Verdant Capital.

Media enquiries:
Verdant Capital:
Liezel van Greunen,
T: +27 10 140 3700
E: liezel.vangreunen@verdant-cap.com

About Verdant Capital:
Verdant Capital is a leading investment manager and investment bank specialising in the private capital markets and operating on a pan-African basis.  Verdant Capital is the manager of the Verdant Capital Hybrid Fund. www.Verdant-Cap.com.

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Read moreVerdant Capital advises USPlus on EUR 2 million debt capital raise
22 January 2024

Multimillion-rand Gauteng beauty academy grant under investigation

Location: News

Four officials of the provincial Department of Social Development already “under precautionary suspension”

Read moreMultimillion-rand Gauteng beauty academy grant under investigation
18 January 2024

Beauty academy gets R64-million government subsidy in midst of budget cuts

Location: News

Money for organisations assisting people with HIV and older people cut

Read moreBeauty academy gets R64-million government subsidy in midst of budget cuts
11 January 2024

Government welcomes Rooibos tariff reduction decision

Location: News

Government welcomes Rooibos tariff reduction decision

Government has welcomed the decision by the People’s Republic of China to substantially reduce tariff rates on imports of South African Rooibos tea.

“China, the world’s largest tea-market, previously had tariffs ranging from 15% to 30% on rooibos tea. This has now been reduced to 6%,” said the Department of Trade, Industry and Competition (dtic) in a statement.

The move is with effect from 1 January 2024.

It added that Rooibos tea is a unique South African tea that has gained a strong foothold in global markets with hundreds of millions of rands of annual exports in 2022.

South Africa led efforts at the World Customs Organization (WCO) for a specific tariff code applicable only for rooibos tea.

In August 2023, South Africa’s Minister of Trade, Industry and Competition Ebrahim Patel raised the tariff duties on rooibos tea with his counterpart, the Chinese Minister of Commerce, Wang Wentao, during the eighth meeting of the China-South Africa Joint Economic and Trade Commission.

He requested that China considers a request to reclassify Rooibos tea and to reduce the duties.

Following further consideration from the Chinese side, the Customs Tariff Commission of the State Council of China advised it will be adopting the new tariff code of the WCO to categorise Rooibos tea under tariff code HS 1211.90.39 with an import tariff rate of 6%.

“According to the Rooibos Council of South Africa, approximately 20 000 tons of Rooibos is produced in South Africa every year generating employment for more than 5 000 people. China featured as the seventh largest recipient market in 2023 for South African Rooibos out of a total of 45 countries currently importing Rooibos tea,” said the department.

Minister Patel welcomed the decision by the Customs Tariff Commission of the State Council of China.

Commenting on the decision, he said: “Our Rooibos tea is refreshing, delicious and healthy. This decision will enable more South African Rooibos tea to be available to Chinese tea-drinkers, creating more jobs in South Africa. Rooibos exporters can now ramp up their exports of tea to China!”.

“China is currently South Africa’s largest global trading partner, with Chinese customs reporting two-way trade of more than R900 billion. We look forward to continuing our engagements with our Chinese counterparts as we seek to shift our exports from mainly minerals to a greater basket of value-added agricultural and industrial products.

“I wish to commend Minister [of Agriculture, Land Reform and Rural Development] Thoko Didiza and her team for the close collaboration and hard work to get this decision finalised,” Minister Patel said. -SAnews.gov.za

Neo
Thu, 01/11/2024 - 11:17

392 views
Read moreGovernment welcomes Rooibos tariff reduction decision
10 January 2024

RAPT Creative makes stellar debut in SCOPEN’s 2023/24 AGENCY SCOPE

Location: MyPR

RAPT Creative has taken SCOPEN’s 2023/24 AGENCY SCOPE South Africa by storm to rank 4th on its Agency Performance Table, scoop up four 1st place or tied 1st place results, achieve a top 10 ranking in 9 out of the 11 categories SCOPEN deems most important to agency performance, and rank 7th on the Overall …

Read moreRAPT Creative makes stellar debut in SCOPEN’s 2023/24 AGENCY SCOPE
9 January 2024

Naspers Labs-backed SA Harvest Programme Empowers Youth with Agriculture Skills

Location: MyPR

Ten post-graduate students who were previously unemployed recently embarked on a remarkable journey from Lusikisiki, Eastern Cape, to Tzaneen, Limpopo Province, as part of the SA Harvest entrepreneurial incubator initiative. Supported by Naspers Labs, this programme aims to equip young individuals with the skills and knowledge needed to become self-sufficient agri-food entrepreneurs. These ten students …

Read moreNaspers Labs-backed SA Harvest Programme Empowers Youth with Agriculture Skills
8 January 2024

Bursaries open for application, for the 2024 academic year

Location: MyPR

As the opening of the 2024 academic year approaches, many prospective tertiary students find themselves without the means to afford their studies. As the last Nelson Mandela once said, “education is the most powerful weapon which you can use to change the world”, but how does one afford to educate themselves with the high price …

Read moreBursaries open for application, for the 2024 academic year
18 December 2023

Makhathini Lower Pongola water association to ensure objective water management

Location: News

Makhathini Lower Pongola water association to ensure fair water management

Water and Sanitation Minister Senzo Mchunu says the Makhathini Lower Pongola Water Users Association will ensure fair water management for those living in the uMkhanyakude and Zululand Districts, KwaZulu-Natal.

Mchunu made the remarks following the launch of Makhathini Lower Pongola Water Users Association, which will manage water resources, including the Jozini Dam, Pongola River and Makhathini Canal to benefit all water users in the two districts.

Accompanied by Agriculture, Land Reform and Rural Development Minister, Thoko Didiza, and her Deputy Nokuzola Capa, Mchunu and his Deputy Minister, David Mahlobo, recently held a community engagement activity in the two districts.

The ministerial visit to the districts formed part of Mchunu’s continued efforts to intervene in the challenges faced by uMkhanyakude District to restore, augment and expand water supply to the communities that have been experiencing water challenges.

Mchunu assured the community of Jozini (in uMkhanyakude District) and the Pongola farming community (under the Zululand District Municipality) that there will be fair and equitable access to water for consumption and farming.
 
“The newly established Makhathini Lower Pongola Water User Association will facilitate and coordinate stakeholder consultation for ensuring equitable decision-making when water is being released from Jozini Dam for environment and socio-economic purposes. This will enable both domestic and agricultural users to have equitable access to water,” Mchunu said.

The community of Kwa-Gumbi, near Pongola in Zululand District, who had water use licence issues, requested the Minister to intervene.

The community, which consists of small-scale farmers represented by Emvokweni Community Trust, are beneficiaries of the land restitution programme from the the Department of Agriculture, Land Reform and Rural Development (DARRLD). 

Both Mchunu and Didiza have pledged their commitment to assist the farmers to restore farming operations. Mchunu also assured the farming community of water availability to ensure sustainable irrigation on their farms.

The 32-kilometre Makhathini Canal was officially unveiled by Mchunu following its transfer to the Department of Water and Sanitation from the landowners, Silwane Trust. 

The process of the canal transfer was facilitated by the Agribusiness Development Agency (ADA), a public entity under the Department of Agriculture, Land Reform and Rural Development in KwaZulu-Natal.

During the walkabout to assess the canal, Mchunu and Mahlobo noted that some parts of the canal have been vandalised, with some community members making illegal connections, which has led to infrastructure damage. Water pollution has also been identified as one of the major problems at the canal. 

Mchunu said an estimated R122 million will be required to refurbish the dilapidating canal to function optimally.

He said the water canal, with a capacity of 141 754 cubic metres, is meant to benefit both agriculture and domestic users. 

“It abstracts raw water from Jozini Dam to six different pump stations and the pressurised water is distributed from the pump stations through an extensive network of underground pipelines to four different types of irrigation systems that are being used, which are sprinklers, centre pivots, floods and drip,” Mchunu said. – SAnews.gov.za
 

GabiK
Mon, 12/18/2023 - 10:48

472 views
Read moreMakhathini Lower Pongola water association to ensure objective water management
18 December 2023

Guidelines and best practices for the safe handling and transportation of bulk bags.

Location: MyPR

Johannesburg,December, 18th 2023: Guidelines and best practices for the safe handling and transportation of bulk bags. Vaal Bulk Bags, a prominent supplier of top-notch large bags, is delighted to declare our most recent announcement centered around our firm’s dedication to delivering cost-effective, adaptable, and eco-friendly options. Over time, we have upheld our image as a …

Read moreGuidelines and best practices for the safe handling and transportation of bulk bags.
14 December 2023

President, Black Business Council discuss transformation of the economy

Location: News

President, Black Business Council discuss transformation of the economy

President Cyril Ramaphosa has held a meeting with the Black Business Council (BBC) to discuss challenges facing the economy and the transformation of the economy.

Also at the meeting were Minister of Agriculture, Land Reform and Rural Development Thoko Didiza; Trade, Industry and Competition Minister Ebrahim Patel; Minister of Employment and Labour Thulas Nxesi; Finance Minister Enoch Godongwana; Transport Minister Sindisiwe Chikunga and Minister in the Presidency for Electricity Kgosientsho Ramokgopa and Deputy Minister of Finance David Masondo.

Topics under discussion included issues hindering black business participation in contributing to development and economic growth, energy security, transport, agriculture, the capacity of the state, employment equity and transformation.

“Since the advent of democracy nearly 30 years ago, we have worked to advance the economic position of black and women South Africans. That is why we introduced broad-based black economic empowerment, affirmative action, preferential procurement and other transformation policies to address the imbalances created by years of apartheid rule.

“Our fiscal policies enabled a massive redistribution of resources towards mainly black South Africans through the provision of basic services, subsidised housing, improved education and health care, and social grants,” President Ramaphosa said.

BBC President Elias Monage said: “The BBC notes progress being made in processing the Public Procurement Bill. We view this bill as a very important instrument and the BBC is happy that the bill, in its current form, after many fights, contains the set-asides in the primary legislation”.

According to the Presidency, the meeting agreed to establish five focused work streams which will be coordinated from the Presidency with the first quarterly report back expected to take place in March 2024.

The work streams are:

  • Inclusive economic transformation
  • Funding of black small businesses
  • Energy (to be considered as part of NECOM work streams)
  • Transport and logistics (to be considered as part of NLCC work streams)
  • Capacity of the State

“President Ramaphosa reaffirmed the government’s commitment in addressing the energy crisis, logistics backlogs and crime and corruption by highlighting key interventions through the Energy Action Plan, National Logistics Crisis Committee and the recently adopted Freight Logistics Road map, and positive steps taken to appoint a new board of Transnet and the Eskom Group Chief Executive Officer,” the Presidency said. – SAnews.gov.za

 

NeoB
Thu, 12/14/2023 - 09:29

508 views
Read morePresident, Black Business Council discuss transformation of the economy
14 December 2023

Pandor pleased by growing trade with Austria

Location: News

Pandor pleased by growing trade with Austria

International Relations and Cooperation Minister, Dr Naledi Pandor, has welcomed the growing overall trade between South Africa and Austria and the rising tourism numbers from the landlocked country in central Europe. 

“We appreciate the valuable contribution that Austrian companies are making in South Africa, particularly in job creation, skills development and technology transfer,” she said on Thursday.

The Minister was sharing her remarks during the joint media briefing with her Austrian counterpart, Minister Alexander Schallenberg, in Pretoria. 

Pandor took the time to thank Schallenberg for honouring his invitation to come to South Africa for the meeting and engagements aimed at solidifying relations between the two countries. 

South Africa’s bilateral relations with Austria, according to the Minister, are sound and on an upward trajectory. 

This was evident when South Africa successfully hosted the third meeting of the South Africa-Austria Bilateral Consultations in Pretoria in 2022, after a two-year hiatus, due to the COVID-19 pandemic.

“During our deliberations today, we discussed the status of our bilateral cooperation as well as regional developments on the continent, current international developments and our robust cooperation in the multilateral arena.” 

The South Africa-Austria bilateral cooperation includes renewable energy; wastewater treatment, recycling and organic agriculture; innovation and digitalisation; and environmental technologies.

Schallenberg and his delegation will engage with South African business in a Business Forum arranged by the Department of Trade, Investment and Competition.   

Austria, according to Pandor, is renowned for its vocational training and South Africa is keen to engage the Austrian government on the possibilities of establishing a Memorandum of Understanding (MoU) in the field of vocational training. 

Schallenberg and Sport, Arts and Culture Minister Zizi Kodwa will also sign a MoU on arts and culture during the opening of the Austrian Cultural Forum tonight, which according to Pandor further illustrates the nations’ increased bilateral and people-to-people cooperation.

“South Africa appreciates Austria’s global standing, reputation, and advanced technological capability in the renewable energy space, which makes Austria a natural partner for South Africa. 

“Minister, once again I welcome you and your delegation and wish you a successful and pleasant stay in South Africa,” she added. – SAnews.gov.za

 

 

Gabisile
Thu, 12/14/2023 - 13:24

52 views
Read morePandor pleased by growing trade with Austria
13 December 2023

Victory for union at chicken plant

Location: News

Workers celebrate as Rainbow Chicken agrees to recognise union

Read moreVictory for union at chicken plant
6 December 2023

South Africa needs to spend an extra R535-billion a year to meet climate goals

Location: News

Climate investments need to jump from R131-million a year, Presidential Climate Commission says

Read moreSouth Africa needs to spend an extra R535-billion a year to meet climate goals
5 December 2023

Government departments urged to pay suppliers on time

Location: News

Government departments urged to pay suppliers on time

Public Service Commission (PSC) Commissioner Anele Gxoyiya says out of 40 national government departments, only 15 have fully complied with the policy on timeous payment of service providers.

Gxoyiya on Tuesday addressed media in Pretoria on the PSC’s Quarterly Bulletin titled: ‘The Pulse of the Public Service’.

According to the PSC, the number of invoices paid after 30 days by the national and provincial departments amounts to 117 158, with the rand value of R11.1 billion.  This represents a regression of 12% when compared with the number of invoices paid after 30 days by national and provincial departments during the first quarter of the 2022/23 financial year, which amounted to 104 937 invoices, with the rand value of R8.6 billion.

Gxoyiya encouraged the departments that are compliant to maintain their performance and continue to pay all legitimate invoices from suppliers within 30 days, as required by the Public Finance Management Act (PFMA) and its related prescripts.

“The rand value of invoices paid after 30 days in the first quarter of the 2023/24 financial year amounted to R1.2 billion, and this indicates a regression of 126% when compared to the rand value of invoices paid after 30 days in the first quarter of the 2022/23 financial year, which amounted to R530 million,” said Gxoyiya.

The most common reasons provided by both the national and provincial departments for the late or non-payment of invoices are interruptions caused by poor internal controls, internal capacity, and budget constraints.

“North West provincial departments reported the second highest invoices paid after 30 days, amounting to 12 988 invoices, with the rand value of R880 million during the same period.

“In contrast, Eastern Cape provincial departments reported the highest number of invoices older than 30 days amounting to 25 789, with the rand value of R2.3 billion at the end of June 2023,” Gxoyiya said.

According to the PSC, the main contributing departments towards late or non-payment of invoices at national level are the Departments of Home Affairs; Correctional Services; Defence; Military Veterans; South African Police Service; Agriculture, Land Reform and Rural Development; Transport; Water and Sanitation; Public Works and Infrastructure; Health, and Tourism.

Gxoyiya advocated for transparency in dealing with public finances.

“Transparency is subtly intertwined with accountability... Transparency is pivotal to democracy and accountability, as well as upholding the principles of responsiveness and efficiency.

“In many ways, democracy is government by explanation because in an open and democratic society, government should be accountable for its actions and decisions, which should be informed by rational considerations that are explicable to those affected by them,” Gxoyiya said. – SAnews.gov.za

Edwin
Tue, 12/05/2023 - 13:34

423 views
Read moreGovernment departments urged to pay suppliers on time
4 December 2023

Government activities for the week 04 December – 07 December 2023

Location: News

Government activities for the week 04 December – 07 December 2023

On Monday, 04 December, the Department of Agriculture, Land Reform and Rural Development will host the 28th session of the African commission on agricultural statistics at Birchwood Hotel, Boksburg.

On Tuesday, 05 December, the Minister of Water and Sanitation, Senzo Mchunu, will release the Drop Reports on drinking water quality, provision and waste water management in the country.

On Wednesday, 06 December, Deputy Minister of Small Business Development Dipuo Peters will officially launch the Shared Economic Infrastructure Facility project and hand over business equipment to over 70 beneficiaries who are operating around Mangaung, Free State.

On Thursday, 07 December, the Presidential District Development Model Oversight Imbizo will be taking place in the Matjhabeng Municipality in the Lejweleputswa District in the Free State Province.

Janine
Mon, 12/04/2023 - 10:09

77 views
Read moreGovernment activities for the week 04 December – 07 December 2023
30 November 2023

Mchunu to assess Sekhukhune water infrastructure projects

Location: News

Mchunu to assess Sekhukhune water infrastructure projects

Water and Sanitation Minister Senzo Mchunu will on Friday visit the Sekhukhune District Municipality in Limpopo to assess progress on water infrastructure projects in the district.

During the visit, Mchunu and Deputy Ministers David Mahlobo and Judith Tshabalala, together with Sekhukhune District Municipality Mayor, Minah Bahula, will meet with the Lebalelo Water Users Association (LWUA) to assess progress on the Olifants Management Model (OMM) programme.

The R27 billion OMM programme is an infrastructure development project launched in October last year at Ga-Malekana in Burgersfort.

The programme is undertaken by the Department of Water and Sanitation, in partnership with LWUA, to address water supply challenges in communities in Limpopo. 

“The programme is meant to fast-track potable and bulk raw water infrastructure development to ensure that communities, including mining and agriculture sectors, and other companies in Sekhukhune District, Polokwane and Mogalakwena Local Municipalities, have sustainable water provision by 2030,” the department said. 

During the visit, Mchunu will also give feedback on the investigation he commissioned around the R143 million drought relief project set aside in 2020 to address water supply challenges at Moutse in Elias Motsolaledi Local Municipality by Lepelle Northern Water, as the implementing agent.  

The Minister will also engage with members of the community at an event scheduled to take place at Philadelphia Sports Grounds, Dennilton. 

Water reticulation for Mopani District villages

Meanwhile, the department said it is working with Mopani District Municipality in Limpopo to increase the level of services from communal taps to yard connections for the reticulation of water in 55 villages within the district. 

“The 24 villages will be fully reticulated by January 2024, while Phase 2 of the 31 villages (out of 55 villages) will start in the 2024-2025 financial year,” the department said. – SAnews.gov.za
 

GabiK
Thu, 11/30/2023 - 10:59

104 views
Read moreMchunu to assess Sekhukhune water infrastructure projects
29 November 2023

Husqvarna’s Versatile TF 545DE Diesel Tiller – The Small Farmer’s “Swiss Army Knife” Solution

Location: MyPR

For small farmers, keeping production costs as low as possible isn’t just a financial strategy, it’s a survival tactic. With profit margins that are often as narrow as a furrow, every Rand conserved is a victory won – so innovations that save time and money are a massive plus. Husqvarna is passionate about land care …

Read moreHusqvarna’s Versatile TF 545DE Diesel Tiller – The Small Farmer’s “Swiss Army Knife” Solution
29 November 2023

SAICC warns about the impact of South African foreign policy on local exporters

Location: MyPR

November 2023, Johannesburg: The South Africa Israel Chamber of Commerce (SAICC) notes with alarm, the current moves within the US Senate to review South Africa’s (SA’s) eligibility for the Africa Growth and Opportunity Act (AGOA). The Democratic Senator, Chris Coons is currently lobbying support for a proposed law to renew AGOA for 16 years that …

Read moreSAICC warns about the impact of South African foreign policy on local exporters
28 November 2023

Stock theft is making township farmers’ hard lives harder

Location: News

Urban livestock are a soft target for criminals

Read moreStock theft is making township farmers’ hard lives harder
27 November 2023

Upgrade of Marine Steer will increase accessibility within the KZN South Coast

Location: MyPR

The much-anticipated rehabilitation of Marine Drive which connects Port Shepstone with Southbroom is underway. Contractors are working tirelessly to ensure the road is open for use from 14 December 2023 to 9 January 2024, when construction will resume again. While this may cause some inconvenience for holidaymakers flocking to the KZN South Coast this festive …

Read moreUpgrade of Marine Steer will increase accessibility within the KZN South Coast
27 November 2023

The rapid lane to progress: public-private partnerships steer service delivery and social development goals in townships

Location: MyPR

November, Johannesburg: A community development organisation is calling for more public-private initiatives to improve basic service delivery that can lift communities out of poverty and restore dignity to the lives of the disenfranchised masses in South Africa (SA). The obligation to restore dignity and ensure equal access to basic services has been one of the …

Read moreThe rapid lane to progress: public-private partnerships steer service delivery and social development goals in townships
23 November 2023

Two SAB plants secure R5.8 billion upgrades

Location: News

Two SAB plants get R5.8 billion upgrades

The R5.8 billion investment commitment made by South African Breweries (SAB) has been utilised to increase capacity at two of its plants. 

The company said the investment – which was announced at the South African Investment Conference 2023 earlier in the year - was for civil works and new equipment to allow for increased local production for new product innovations.

Two of SAB’s plants were identified for these capacity upgrades - Prospecton Brewery in Durban and Ibhayi Brewery in Gqeberha in the Eastern Cape.

The South African Investment Conference was launched in 2018 by President Cyril Ramaphosa to boost economic activity that had been in decline for over a decade in Africa's most advanced but struggling economy.

This year, President Ramaphosa set a new target to mobilise approximately R2 trillion in new investments over another five-year period which begins next year.

SAB employs around 5 700 employees and collaborates with nearly 3 739 suppliers, supporting around 250 000 jobs in the beer value chain.

In addition, the company sources high-quality ingredients from local farmers, ensuring that 94% of their beer production is locally sourced.

Chief Executive Officer of SAB, Richard Rivett-Carnac, said SAB is committed to being a driver of economic growth by building a sustainable business that develops, empowers, and invests in the communities in which it operates.

"We are dedicated to sustainable investments and economic growth. Our investments over time have contributed billions of rand to the South African Gross Domestic Product (GDP), which, alongside the investment commitments pledged at the 2023 South African Investment Conference 2023, have provided a significant boost to an economy sorely in need of stimulus,” Rivett-Carnac said. 

“In terms of job creation, the investment into the Prospecton Brewery has created approximately 25 000 additional jobs throughout the value chain, whilst the Ibhayi Brewery investment has created a further 14 000 jobs throughout the beer value chain across South Africa,” he said.

He said the estimated 39 000 jobs created through these investments were across a variety of sectors. These include agriculture, logistics, manufacturing, hospitality, construction and innovation among others in the value chain. – SAnews.gov.za

 

Edwin
Thu, 11/23/2023 - 13:00

426 views
Read moreTwo SAB plants secure R5.8 billion upgrades
23 November 2023

How unemployment has changed since 2000

Location: News

Jobless rate has not dropped below 20% since 2000

Read moreHow unemployment has changed since 2000
21 November 2023

Asset Forfeiture Unit scores R1.5bn seizure order

Location: News

Asset Forfeiture Unit scores R1.5bn seizure order

The National Prosecuting Authority's Asset Forfeiture Unit, in collaboration with a special illegal mining unit in the South African Police Service, has obtained a provisional preservation of property order for the seizure of assets to the estimated value of more than R1.5 billion.

The frozen assets include a farm in Carolina, coal, cars and heavy duty machinery used at an alleged illegal mine in Mpumalanga.

National Prosecuting Authority regional spokesperson Monica Nyuswa said an estimated 270 000 tons of coal was allegedly mined illegally at on two portions of the farm over a two year period by a company named GNJ Mining.

“At a minimum estimated market value price of R980 per ton, the estimated 270 000 tons that were illegally mined amounted to about R264 million worth of coal, that was illegally mined at the farm during the 2 years.

“GNJ Mining never had lawful authorisation/permit from the DMRE [Department of Mineral Resources] and/or the DARDLEA [Mpumalanga Department of Agriculture, Rural Development, Land and Environmental Affairs] to mine coal at the farm. The illicit coal that was mined at the farm was taken to Droogvalley Barrel Plant (Droogvalley) in the Carolina area, where the coal was processed and “washed” to prepare it for sale to GNJ Mining’s coal-using clients,” she said.

Nyuswa explained that the seizure comes after a man was arrested following a raid on a farm.

“Following credible information, the SAPS held an operation at the farm on Tuesday 19 September 2023, where they saw the magnitude of the illegal coal mining operation at the farm and Droogvalley. On the day, the SAPS arrested the illegal Mine Manager Paul Boshoff (Boshoff) and seized most of the mentioned assets at the farm and Droogvalley.

“Boshoff was arrested on 19 September 2023 and appeared in court the following day,” she said.

The criminal case is expected to be heard on 16 February 2024 in the Carolina Magistrates’ Court. – SAnews.gov.za

NeoB
Tue, 11/21/2023 - 10:09

128 views
Read moreAsset Forfeiture Unit scores R1.5bn seizure order
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