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The road to vehicle ownership is often paved with financial complexities, and the current challenging economic landscape has added a variety of speed bumps and road hazards to further complicate the journey. Rising inflation, lingering interest rate uncertainty, and shifting consumer spending habits all have a profound impact on car financing options and affordability, making …
For as long as he could remember, Dudley Stops (58) had enjoyed a drink in social settings, whether it was camping, at a braai with friends, or on the golf course. However, everything changed after Covid-19 when he was forced to face the reality of his situation – he was an alcoholic. “When lockdown started, …
MultiChoice Group (www.MultiChoice.com/) demonstrated resilient operational performance for the year ended March 2024 (FY24), delivering a 26% trading profit margin in South Africa, while increasing trading profit in the Rest of Africa by 48%, despite very challenging macro-economic conditions. Clear strategic milestones were reached, with the group successfully launching Showmax 2.0, SuperSportBet and Moment, all of which are now revenue-generating and supporting the group's future growth prospects.
Download document: https://apo-opa.co/4cj3eXQ
“Four years after setting out a clear strategy of building Africa's entertainment platform of choice and investing in services to support a broader ecosystem, our three core segments are now fully operational: video entertainment, interactive entertainment and fintech. Our focus now shifts to building on these solid foundations to drive growth in these new areas, and on further enhancing business efficiency across our operations.
While we are not alone in feeling the challenges of a weak consumer environment, I am proud of the speed and effectiveness of the team in implementing strategic actions to retain customers, safeguard cash generation and drive costs savings which surpassed our targets. It is the strength of this team, the quality of the underlying business and the clarity of our strategy which underpins my confidence in delivering on our potential,” said Calvo Mawela, MultiChoice Group CEO.
Some key points for the past financial year:
MultiChoice is by far the largest producer of original content on the African continent. In FY24, the group again produced over 6 500 hours of local content and its local content library now has more than 84,000 hours of content, a 12% increase YoY.
The highlight for the year was Shaka Ilembe, which launched on Mzansi Magic in June to become Africa's biggest TV series. Filmed entirely on location in South Africa, it was created through the skills and contributions of over 8 000 people. The premiere episode attracted over four million viewers and was the top-performing show with an audience share of over 45% in its time slot.
Other content highlights of the year was Reyka (season 2), Devil's Peak and White Lies on linear (co-produced with Fremantle, Canal +, Abacus Distribution and BBC Studios-owned Lookout Point) and Spinners, Original Sin: My Son The Killer, and Catch Me a Killer, on streaming. Across Africa, the group launched 3 new proprietary channels - in Ethiopia (Maaddii Abol), Uganda (Pearl Magic Loko) and Mozambique (Maningue Magic Kool) while also producing content in Africa's 4th most spoken language, Oromo.
SuperSport broadcast 34 490 live events during the year – arguably more live sport than any other broadcaster in the world. Highlights included the Rugby World Cup in France, the Cricket World Cup in India, a second SA20 season in South Africa, AFCON, FIFA Women's World Cup in New Zealand and Australia, as well as the Netball World Cup in Cape Town.
SuperSport Schools more than doubled its registered user base during the year. The fast-growing platform displayed more than 49 000 hours of live programming across 43 different sports codes, covering 900 school sport festivals and events, featuring more than 1 100 schools, and over 14 500 teams.
SEGMENTAL REVIEW
South Africa Pay-TV (MultiChoice South Africa)
Due to a strong focus on retention initiatives, the decline in active subscribers in South Africa was limited to 5%, despite the challenging environment. The base now stands at 7.6 million households. Power outages experienced on 275 days of the year further discouraged potential subscribers without backup power.
Although the Premium bouquet is trending toward a stable base given the targeted retention efforts, the premium customer tier (which includes the Premium and Compact Plus bouquets) declined by 8%. The mid-market Compact base, which is most exposed to the macro-economic challenges, was down 9%, while the mass-market tier was 2% lower due to pressure in the Family base, the impact of loadshedding, and reduced decoder subsidies.
A consequent 3% decline in subscription revenues and softer advertising income weighed on the segment's total revenues (-2% to ZAR33.6bn), but was partially offset by strong traction from new revenue streams, especially the insurance business (NMSIS) which reported a 35% increase in premium revenue to almost ZAR1bn. Several interventions to reduce costs enabled the SA business to achieve a trading margin of over 26%.
Rest of Africa Pay-TV (MultiChoice Africa)
The business in the Rest of Africa faced the toughest macro-economic conditions in its core markets with high, double-digit inflation and extreme depreciation of local currencies, (especially in Nigeria, Angola, Kenya and Zambia) which impacted USD revenues by 32%.
The active subscriber base declined to 8.1m, but effective retention efforts contributed to an improved subscriber mix.
Due to the challenging market dynamics, the short-term focus of this business shifted from subscriber growth to safeguard profitability and cash flows. Several cost-saving initiatives were implemented, including scaling back significantly on decoder subsidies (-46% YoY or ZAR1.3bn), and reducing SG&A costs by ZAR500m. These interventions enabled the Rest of Africa business to increase trading profit by 48% YoY to ZAR1.3bn.
Sub-Saharan Africa SVOD (Showmax)
FY24 was a pivotal year for Showmax as it relaunched across 44 markets in sub-Saharan Africa on Peacock's world-class platform, which is 4K/HDR and ATMOS ready. Almost 100% of the eligible customer base was migrated to the new Showmax platform, and 88% of those migrated had reactivated their accounts in the seven weeks to year-end.
Alongside local content from M-Net, Mzansi Magic, Africa Magic and Maisha Magic, Showmax ramped up its local content, releasing 59 original movies and series in SA, Nigeria, Kenya and Ghana (FY23: 48). Popular shows that drove viewership included Tracking Thabo Bester, Koek, The Mommy Club, Youngins, Red Ink, Adulting, Outlaws and Real Housewives of Durban in South Africa, Cheta'm, Real Housewives of Lagos, Dead Serious, Wura and Flawsome in Nigeria, and Single Kiasi and Second Family in Kenya.
Showmax revenues for the year grew by 22% (+22% organic) to ZAR1.0bn, while trading losses increased to ZAR2.6bn. These losses came in below the expected range of ZAR3-4.0bn. As noted before, due to the partnership agreement signed in 2023, 30% of Showmax's funding requirements is contributed by Comcast.
Technology (Irdeto)
Irdeto's strong execution, enabled it to become the market leader in managed security services for video with a 22% market share. It also saw significant success in combatting piracy, taking down some 30 000 streaming piracy services during the year. Revenue increased by 17% (7% organic) driven by external customers across video entertainment, gaming and connected transport, with some additional uplift from a weaker ZAR against the USD. Disciplined cost management supported a 23% trading margin.
Irdeto shipped its first keyless solutions to leading customers, including one of the largest fleet operators in the US market. This resulted in a revenue increase of 119% YoY in the connected transport division, with revenue from new services now representing a combined 35.7% of total revenues.
Sports betting and interactive entertainment (KingMakers)
KingMakers reported strong growth in the online business in Nigeria, with monthly active users up 37% YoY and online gross gaming revenues up 26% YoY in constant currency. New products were also launched, including BetKing Casino and BetKing FootballGO, a virtual football sportsbook service.
Revenue of USD147m was affected by the weak Naira, while the business reported a positive EBITDA of USD2m. At the end of its December year-end the business had a retained cash balance USD113m to fully fund its growth initiatives.
KingMakers launched the SuperSportBet business in South Africa in January 2024. Its pre-game shows and live feed integration with SuperPicks, as well as the Playbook preview show were key drivers of uptake, further supported by SuperSportBet becoming the official betting partner of local soccer clubs, Kaizer Chiefs and Orlando Pirates.
Fin-tech (Moment)
After being founded during FY23, Moment officially launched in FY24. The business played a vital role in the Showmax relaunch stepping up to fill a critical payments gap. In January this year, Moment also began processing MultiChoice's payments for DStv, reaching a milestone of processing USD85m in payments in early March 2024.
To-date, Moment has processed local and cross-border card payments in 44 Showmax markets and is already accounting for more than 20% of Group's payment volumes. It also joined real-time payment networks in 18 countries, including South Africa, and is currently piloting instant payment and account activation for DStv.
The business raised an additional USD22m of funding, with MultiChoice contributing USD8m. As a result, Moment is now valued at USD82m and MultiChoice owns a 26% stake.
FUTURE PROSPECTS
The linear video-entertainment business remains the mainstay of the group's operations and provides a valuable base from which to expand its service offerings. The new streaming, interactive entertainment, fintech and connectivity services are having a positive impact on the business, and more importantly, on the lives of its customers. Going forward, the group will focus its efforts on scaling Showmax, Moment, SuperSportBet, as well as on driving growth in insurance (NMSIS), DStv Internet and DStv Stream.
To counter the challenges around an uncertain economic recovery globally and across the group's operating footprint, the group will continue to drive business efficiency and cost optimisation, with an increased cost savings target of ZAR2bn.
Not only should this mitigate the ongoing impact of currency volatility and consumer weakness on performance, but together with the company's strategic plans to continue adapting its platforms to cater to customers' evolving needs, it positions the group well to prosper once currencies stabilize and economies rebound.
Distributed by APO Group on behalf of MultiChoice Group.
MultiChoice Group Contact Details:
Litlhare Moteetee
Senior Manager: Corporate Communications
Litlhare.Moteetee@Multichoice.co.za
Meloy Horn, Head of Investor Relations
Mobile: +27 82 772 7123
meloy.horn@multichoice.com
About MultiChoice Group:
MultiChoice Group (MCG), listed on the Johannesburg Stock Exchange (JSE), is a leading provider of entertainment and related consumer services, with an expanding ecosystem, underpinned by scalable technologies, and a track record now spanning almost 40 years. MCG provides video entertainment products and services through its linear and streaming platforms to 23.5m households across 50 countries on the African continent and continues to grow by producing and acquiring the best local, sport and international content and offering tiered subscription packages and aggregated streaming services to its customer base. MCG's superior technology capabilities enables it to continue innovating around distribution, digital and payment solutions and content security to offer the best customer experience across the continent. Reaching up to 100 million individuals on a daily basis, the MultiChoice Group is using its scale and distribution to expand its platform to include sports betting and interactive entertainment, fin-tech services, household services (focused on internet connectivity and emergency response services) and ed-tech. Irdeto, MCG's technology business, provides platform cybersecurity services which protect over 6bn devices and applications globally for some of the world's best media and technology brands, as well as clients in the connected industries sector.
June 2024, Durban KwaZulu-Natal – Since 2022 Ignition Group (Ignition) has been working in conjunction with The Learn Project on the Book Corners and School Library initiative. “We believe that by supporting literacy and reading programmes for foundation phase, learners at less privileged schools get the base they need to participate in and benefit from …
In recent years, ‘value’ has become a buzzword in banking circles across the globe and many banks are searching for innovative ways to deliver meaningful value to their clients. Against this backdrop, Nedbank Premium Banking is setting a new standard by prioritising accessible value and promoting positive money management behaviour to empower clients to achieve …
The hybrid event will bring together startup founders and pioneers from across Africa; Microsoft's startup partners and customers will take to the main stage to share their stories of success; Up to 10,000 startups will be given access to industry-specific expertise and insights on how best to take their business to the next level with the help of AI
Microsoft announced the introduction of its first African Startups AI Fest at GITEX Africa in Marrakech, Morocco today. Spearheaded by the organisation's Africa Transformation Office (ATO), the event promises to inspire and support startups to accelerate their journey to market with the right AI-powered tech solutions. The event, scheduled for 6 June 2024, will take place in Johannesburg, South Africa, with virtual access available to attendees across the continent.
The African Startups AI Fest will bring together founders, entrepreneurs, business decision-makers, engineers and developers in the startups space from across the continent. This inaugural event aims to showcase the transformative power of AI and how startups can use this revolutionary technology to drive innovation and take their ideas not only to local markets but a global stage.
“There is a need to provide startups on the continent with the resources to take their concepts from the drawing board to customers,” says Lillian Barnard, Microsoft Africa President. “From AI-enabled tech solutions to advanced digital skills, startups need to be given every opportunity to thrive in a highly competitive global market because they are the catalysts for job creation and economic growth in Africa.” Overcoming mounting economic pressures
Recent research from The African Tech Startups Funding Report (http://apo-opa.co/3KlSzQs) has found that funding for tech startups in Africa has declined after a highly successful 2022 when 633 tech startups raised over $3 billion in funding.
“In the face of a challenging economic climate, startups across Africa have demonstrated remarkable resilience,” Barnard says. “Despite the tough conditions, they have ignited a wave of innovation. Empowered with the right tech tools, startups can scale their solutions, enhance productivity, and drive growth. At Microsoft, we believe that technology, particularly the transformative power of AI, holds the key to a more empowered future in Africa.”
Finding the right tech partner
Over the years, Microsoft has supported startups on the continent to grow and develop. These success stories include the likes of RE Legal Interact, M-KOPA, Omnisient, Zen Dawa, Deepecho and Terragon.
Legal Interact (http://apo-opa.co/3yDXE45) is an Independent Software Vendor that has integrated Microsoft AI into its software and recently launched the first AI lawyer in South Africa. The solution is automating certain tasks by providing quick answers to legal questions, freeing up time for attorneys to address more complex legal queries. Thanks to IoT tools and AI-powered automation in the cloud, M-KOPA (http://apo-opa.co/3yMX8jX) is providing inclusive financial services such as insurance and loans to people across East Africa. The fintech business has gone on to provide millions of families and entrepreneurs with the financial support they need to purchase solar systems, motorbikes and smartphones.
Attendees of the inaugural African Startups AI Fest will be introduced to these and other startup success stories on the continent. In addition, Microsoft, its partners and customers will introduce and demonstrate how AI tools can be leveraged by entrepreneurs in ways that give their businesses the extra edge in a competitive landscape.
The organisation aims to reach 6,000 to 10,000 of these businesses and provide them with customised support through the Microsoft for Startups Founders Hub programmes. Founders and entrepreneurs will be primed for growth through industry-specific webinars designed to help startups scale, pitch coaching sessions that will help investors enhance their pitching skills and navigate common challenges, investor community sessions that will connect startups with top investors from the Continental investor community to glean key insights on securing their first investments, integration with the Microsoft Independent Software Vendor programme and insights on how to best use AI technologies to propel their businesses forward.
To register for the African Startups AI Fest, participants can register HERE by June 5th, 2024.
Distributed by APO Group on behalf of Microsoft.
About Microsoft:
Microsoft (Nasdaq “MSFT” @microsoft) creates platforms and tools powered by AI to deliver innovative solutions that meet the evolving needs of our customers. The technology company is committed to making AI available broadly and doing so responsibly, with a mission to empower every person and every organization on the planet to achieve more.
The opportunity in Africa is immense, but there is a pressing need to adopt digital platforms to accelerate Africa's economic growth and better enable Africans to participate in the global digital economy. Through the Africa Transformation Office, Microsoft focuses on four essential development areas – digital infrastructure, skilling, SMEs and start-ups, supported by strategic partnerships with industry alliances and coalitions, to fuel investment in Africa and further establish the continent's export of digital services. Read more about Microsoft's Africa Transformation Office HERE: apo-opa.co/3Kib6gu.
Dr Velenkosini Matsebula is a Senior Lecturer in Development Finance at Stellenbosch Business School. As we commemorate Africa Day, we are reminded of the continent’s rich cultural heritage, its vibrant diversity, and its people’s resiliency. This day serves as a beacon of unity and progress for Africa. However, beneath the celebration lies a critical reflection …
Patients at Gilton clinic complain of medication shortages, broken medical equipment, no proper furniture, staff shortages and high patient volume.
As many people continue to celebrate their families and mothers sparked by International Day of Families and Mother’s Day during this month of May, EasyPay Everywhere is highlighting just how the right financial solutions in the current economy can help make things a little easier for mothers, and families by helping them manage their financial …
90 Minutes v 2 Minutes Deep research v Clicking a button To the uninitiated recognising an AI generated article can sometimes be difficult. At MyPR we do see a number of such submissions and present the findings below as a guide to the reader on what to look for when trying to spot an AI …
Multi-skills development centre to benefit KwaSwayimane community
Higher Education, Science and Innovation Minister, Professor Blade Nzimande, has officially launched a multi-skills development centre to benefit the community of KwaSwayimane in KwaZulu-Natal.
The centre is an initiative of the Sector Education and Training Authority (SETA) in response to requests submitted to the Minister by Inkosi SN Gcumisa of the Gcumisa Tribal Authority and uMshwathi Local Municipality Mayor, Mandla Zondi.
They had requested the Higher Education and Training Department to build a campus of the uMgungundlovu Technical Vocational Education and Training (TVET) College, or a multi-skills development centre in KwaSwayimane village.
Informed by a needs analysis, Nzimande launched a variety of SETA training interventions with a total value of R30 694 700.
Given the importance of agriculture in KwaSwayimane, AgriSETA is the lead SETA of this skills development initiative.
AgriSETA has contributed R5 000 000 towards the skills development of 800 learners in crop production, livestock farming, and has provided accreditation to the three skills centres identified in uMshwathi.
Other investments include:
A total of R2 275 000 contributed by the Insurance Sector Education and Training Authority (INSETA) will go towards skills programmes in digital skills, while R2 535 000, contributed by the Wholesale and Retail (W&R) SETA, will go towards digital skills programmes and SMME support.
Speaking at an event held at Ndlebezembuzi Hall in KwaSwayimane, Nzimande said the SETA skills development intervention will be piloted in the kwaSwayimane community, and the initial phase rollout will benefit over 2 000 community members, mostly young people who are currently not in employment, education nor training (NEET).
“This contribution by our SETAs is their collective commitment to addressing unemployment, poverty, inequality and to improving the quality of life in the community of KwaSwayimane. The contribution also symbolises the commitment of government to changing the lives of ordinary citizens, particularly our rural areas.
“We are particularly excited to be making this contribution in this community. As a department, we believe that we need to make sustainable investments in our rural areas, with the view of making them economically viable,” Nzimande said. – SAnews.gov.za
GabiK
Tue, 05/21/2024 - 13:08
Affinity Health, a leading provider of high-quality health cover, today expressed its enthusiastic support for the National Health Insurance (NHI) Bill, highlighting its commitment to collaborating with the government to implement a balanced health coverage system. Murray Hewlett, CEO of Affinity Health, praised the landmark legislation as a critical step towards universal health coverage (UHC), …
NHI does not signal end of private healthcare - President Ramaphosa
President Cyril Ramaphosa has dismissed claims that the National Health Insurance (NHI) will signal the end of private healthcare.
“To the contrary, the NHI aims to use the respective strengths and capabilities of both the private and public health sectors to build a single, quality health system for all,” the President wrote in his weekly newsletter on Monday.
He explained that the NHI Fund will procure services from accredited public and private service providers for every person in need of health care.
“The NHI will be a lifeline for millions of poor South Africans whose resources will be freed up for other essential needs. It will also alleviate the burden on those who are increasingly paying more in medical aid premiums for increasingly fewer services.”
According to the President, South Africa’s private health sector has world-class expertise and is a major source of domestic and foreign investment.
He also praised the public sector, which also has numerous centres of excellence and is staffed by well-trained and experienced personnel.
While there may be different views on how NHI will be progressively implemented, the reality is that the current healthcare system is unsustainable.
Access to quality, decent healthcare should not depend on one’s ability to pay, he said, adding that the “current situation does not serve the poor, does not serve the middle class and does not serve the country.”
However, with careful planning, effective oversight and monitoring, and the strategic allocation of resources, the country’s commander-in-chief believes that South Africa can achieve universal health coverage (UHC).
“Working together in partnership, as both the public and private sectors, we can make the dream of quality health care for all a reality.”
This as the country edges closer to affordable quality healthcare for all after the President signed the NHI Bill into law last week.
“For many years, we have had parallel healthcare systems operating in our country. The majority of the population, 84%, uses public health facilities, while 16% are covered by medical schemes, enabling them to access private healthcare facilities. A small percentage of people use both,” he added.
The President is of the view that this has perpetuated inequality, with the quality of healthcare one receives being determined by one’s ability to pay.
“This runs contrary to our aspiration to be a society that is just and equal.”
While achieving social justice is a key objective of NHI, he stated that efficiency and better resource allocation are equally important.
“We have said that the challenge in implementing NHI lies not in the lack of funds but in the misallocation of resources that currently favour the private health sector at the expense of public health needs.
“There is a misconception that the private health care sector operates and is funded completely independently of government.”
However, he said the training of doctors, nurses and other healthcare personnel who work in both the public and private sectors is subsidised by the State.
Secondly, the State pays billions of rands annually in subsidies for employees who are members of various public sector medical aid schemes.
“Thirdly, taxpayers claim tax rebates for medical aid expenses amounting to approximately R37 billion. This is the money the state should earn in taxes which it foregoes to subsidise private health care.
“We therefore have a situation where the state both directly and indirectly helps to fund a private health care sector that serves only a minority of society.”
In addition, he said access to private healthcare through medical aids is also costly for users.
“It is said that without the tax rebate private healthcare would not be affordable to the majority of users. Medical aid contributions are increasing faster than inflation. At the same time, benefits are being reduced.”
The President cited the 2016 Healthcare Market Inquiry, which found that private healthcare services and medical scheme coverage are frequently over-used without clear improvements in health outcomes.
“The resources that are spent both by the state and private individuals can, therefore, be more efficiently used to build a single, unitary health care system that serves all.” – SAnews.gov.za
Gabisile
Mon, 05/20/2024 - 10:03
On 9 May 2024, the Federated Employers Mutual Assurance Company (Rf) (Pty) Ltd (FEM) launched its Rehabilitation, Social Reintegration and Return to Work Programme at an event held in Johannesburg. FEM is a mutual insurer that provides workmen’s compensation cover to the construction and construction-related industries. The launch showcased FEM’s full package of services aimed …
Phaahla reassures healthcare workers things will improve as NHI becomes law
Health Minister, Dr Joe Phaahla, has urged healthcare workers not to be swayed by fearmongers pushing for emigration from South Africa due to the National Health Insurance (NHI).
“Don’t listen to doomsayers and the scaremongers who are telling you that things are going to collapse and [you] must leave now that the President has [signed the Bill], [and you must] find the first flight [out of the country]. Stay here. Things are going to get better.
“This is our only country. We’re going to make sure that what we have achieved in the last 30 years can only get better and not worse,” Phaahla told medical professionals.
Phaahla was speaking at the signing of the NHI Bill into law by President Cyril Ramaphosa at the Union Buildings on Wednesday.
READ | President Ramaphosa signs NHI Bill into law
He urged all citizens to collaborate with government and be part of the solutions to achieve a fair, just, and sustainable health system that caters to the health needs of all citizens, regardless of their location or socioeconomic status.
According to the Minister, inequities that characterise South Africa’s health system are unjustifiable and require fundamental overhauling to ensure equity and sustainability.
“Families have faced agonising decisions, having to choose between necessities and necessary medical care.
“This reality does not align with the vision we hold for South Africa, where every citizen should enjoy their life to the fullest potential,” said the Minister.
Phaahla described the signing of the Bill as a historic milestone, which paves the way for government to forge ahead with universal health coverage (UHC).
WATCH |
The Minister is of the view that the law was not just a policy but also a promise.
“This is a promise of a better, healthier future for every South African, affirming that the long wait has indeed been worth it.”
This new law, according to Phaahla, is derived from the National Development Plan (NDP) and will usher in free comprehensive healthcare services at the point of use.
“Thank you very much Mr President for convening us here at the citadel of power [the Union Buildings] in our country after you found the most valued pen in the history of South Africa. I’m sure it’s going to be kept in the museum,” the Minister quipped.
READ | Somebody give me a pen! - President
Phaahla told the attendees that the vision dates as far back as 1942 under the leadership of ANC President Dr AB Xuma.
“Even at that time, they already had an outline of the type of NHI that South Africa must adopt. One of the clauses of the document called for ‘the establishment of free medical and health services for all sections of the population’,” he explained.
He also quoted another clause, which called for a “drastic overhauling of the health services of the country, with an emphasis on preventive medicine”.
“We are happy that after many years of policy discussions and five years of the NHI Bill in Parliament, the National Health Insurance has now reached the starting line,” he said.
Phaahla stated that the department will now begin implementation and create mechanisms for the use of resources available to the NHI Fund to meet the health needs of the population.
“We stand resolute and remain committed to realising a health system that ensures our people enjoy healthy and productive lives, spurred on to achieve their full potential in a more equitable South Africa.”
He believes that the signing of the Bill will add impetus to other efforts to close the inequality gap in the country.
Phaahla stated that with the Bill becoming an Act of Parliament, it would facilitate the establishment of crucial institutional and organisational structures of the NHI Fund, along with its governance arrangements.
“However, it is important for the public to note that the provisions of the NHI Act will be implemented in phases. Our intention has always been to have a rational, structured and phased approach implementation.”
Special Report | National Health Insurance: All you need to know
The Constitution empowers the President to set different dates for the effectiveness of various provisions within the Act.
Meanwhile, President Ramaphosa described the public signing of the NHI Bill into law as a pivotal moment and a milestone in South Africa’s ongoing quest for a more just society.
The Head of State strongly believes that financial hurdles facing the NHI can be navigated with careful planning, strategic resource allocation and a steadfast commitment to achieving equity.
The President also explained that the NHI Fund will procure services from public and private service providers to ensure all South Africans have access to quality healthcare. – SAnews.gov.za
Gabisile
Thu, 05/16/2024 - 13:18
President Ramaphosa signs NHI Bill into law
President Cyril Ramaphosa has emphasised the importance of the National Health Insurance (NHI) in providing equal access to healthcare services and addressing inequalities.
This, as he signed the NHI Bill into law on Wednesday.
“[The Bill] is also about efficiency and quality. The provision of healthcare in this country is currently fragmented, unsustainable and unacceptable,” President Ramaphosa said, adding that he finally "found his pen" to sign the long-awaited Bill.
READ | Somebody give me a pen! - President
At its core, the country’s leader stated that health insurance is a commitment to eliminating the longstanding, severe disparities in healthcare access.
“The NHI is an important instrument to tackle poverty. The rising cost of health care makes families poorer. By contrast, healthcare provided through the NHI frees up resources in poor families for other essential needs.”
He believes that the NHI will make healthcare in the country more affordable.
“The way healthcare services will be paid for is meant to contain comprehensive healthcare costs and to ensure the available resources are more efficiently used.”
President Ramaphosa described the public signing of the NHI Bill into law as a pivotal moment and a milestone in South Africa’s ongoing quest for a more just society.
WATCH | President Cyril Ramaphosa signs into law the National Health Insurance Bill
The President said the public sector serves most of the population but faces budget constraints. In contrast, he said the private sector serves a fraction of society at a far higher cost without a proportional improvement in health outcomes.
He believes that tackling the imbalance requires a radical “reimagining” of resource allocation.
Meanwhile, he said the challenge in implementing the NHI lies not in the lack of funds, but in the misallocation of resources that currently favours the private health sector at the expense of public health needs.
He is of the view that the NHI Bill presents an innovative approach to funding universal healthcare based on social solidarity.
This, he said, proposes a comprehensive strategy that combines various financial resources, including both additional funding and reallocating funds already in the health system.
Special Report | National Health Insurance: All you need to know
The Head of State strongly believes that financial hurdles facing the NHI can be navigated with careful planning, strategic resource allocation and a steadfast commitment to achieving equity.
He also explained that the NHI Fund will procure services from public and private service providers to ensure all South Africans have access to quality healthcare.
In addition, he said that health insurance ensures that both the public and private sectors complement and reinforce each other.
“The effective implementation of the NHI depends on the collective will of the South African people. We all need to embrace a future where healthcare is a shared national treasure, reflective of the dignity and value we accord to every South African life.”
According to President Ramaphosa, government has already begun implementing a national quality improvement plan in public and private healthcare facilities, and is now seeing improvement.
“Even in areas where we never thought [we would] see improvement, we see improvement of health facilities, even in our townships, where old people go to get critical medication.”
In addition, he said government would now establish the systems and put in place the necessary governance structures to implement the NHI, based on the primary healthcare approach.
The President has urged people not to fear, as the NHI will be implemented gradually rather than as "an overnight event".
“The NHI is an opportunity to make a break with the inequality and inefficiency that has long characterised our approach to the health of the South African people. Let us work together, in a spirit of cooperation and solidarity, to make the NHI work.” – SAnews.gov.za
Gabisile
Wed, 05/15/2024 - 16:46
The majority of people who rent residential accommodation do so for financial reasons with nearly half admitting they can’t afford to buy a property, according to credit bureau TPN’s latest Tenant Survey. The annual Tenant Survey Report provides the property sector, including property owners and managers, with insights into tenants’ needs, wants, aspirations, and challenges, …
President Ramaphosa to sign NHI Bill into law
President Cyril Ramaphosa is expected to sign the National Health Insurance Bill (NHI) into law on Wednesday, 15 May 2024.
According to the Presidency, the move will transform South Africa’s healthcare system and ensure universal coverage for health services.
Through this, the country will overcome critical socio-economic imbalances and inequities of the past.
The NHI Bill, passed by the National Assembly (NA) and the National Council of Provinces (NCOP) last year, will provide free healthcare at the point of care for all South Africans, whether in public or private health facilities.
The Bill currently only requires President Ramaphosa’s signature for enactment.
Speaking during the State of the Nation Address (SONA) in February, President Ramaphosa said the State was working tirelessly to improve healthcare quality and access equality, despite the country’s health system significantly impacting people’s lives.
During the debate on President Ramaphosa’s SONA, Health Minister, Dr Joe Phaahla, announced that the NHI will be implemented in two remaining phases from 2024 to 2026, while between 2026 and 2028 government will focus on establishing the Board and CEO and several key committees of the NHI Fund.
“We are confident that the innovative funding of infrastructure as stated by the President will also contribute to health facilities,” he told Parliament at the time.
In the meantime, the Minister said his department was strengthening key delivery areas. These include the healthcare benefits design, digital health systems, and risk identification and fraud prevention.
The signing ceremony will take place at the Union Buildings in Pretoria at 2pm.
Phaahla will conduct a question-and-answer session with the media immediately after the ceremony. – SAnews.gov.za
Gabisile
Tue, 05/14/2024 - 10:15
Labour dept institutes strict controls for service providers
Employment and Labour Minister Thulas Nxesi has warned service providers linked to the Labour Activation Programme (LAP) that they will not be paid without their performance being checked.
“The department expects delivery, compliance with contractual obligations, professionalism, quality work, measurable outputs and impactful interventions from you,” said Nxesi while delivering his keynote address at the Labour Activation Programme launch in Kimberley, Northern Cape, on Friday.
Nxesi said the department has employed systems and processes to monitor the performance of LAP service providers.
This comes after eight LAP service providers accepted and signed a pledge to provide training to 23 070 young people in the Northern Cape.
The training, with a budget of R558 million, will focus on sectors including agriculture, construction, hospitality, security, energy, call centres, and new venture creations.
Nxesi said the department has also been focusing on reconfiguring, along with its entities, to strengthen and improve effectiveness.
“We are currently implementing the recommendations of an independent review of the Unemployment Insurance Fund and the Compensation Fund, focusing on strengthening service delivery and innovation, and developing effective and efficient business processes and systems.
“This includes an established project management office to monitor projects, enforce contracts and evaluate outcomes,” Nxesi said.
After the LAP launch, Nxesi visited a Jobs/Careers Fair -- also hosted by the department -- at Galeshewe Stadium.
The event was attended by scores of work seekers from nearby communities.
IMAGES | Jobs Fair @Galeshewe Stadium
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Nxesi advised job seekers to use their mobile phones to register on the department’s Employment Services of South Africa database, and to apply for LAP opportunities when they are advertised.
The Minister also advised job seekers to be aware of unscrupulous and bogus employers advertising fake opportunities.
He also urged them to report unscrupulous recruitment agencies, who charge job seekers a fee for employment opportunities, to the department and the South African Police Service. – SAnews.gov.za
GabiK
Sun, 05/12/2024 - 08:28
Introduction Plant and machinery valuations are pivotal in providing businesses across various sectors with accurate and actionable financial insights. These valuations help organisations assess the value of their physical assets, supporting strategic decision-making concerning investment, asset management, and compliance with financial and tax regulations. From agriculture to technology, the application of precise valuation techniques …
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There are risks in using a private company to pay the grants
Labour Activation Programme heads to Northern Cape
Employment and Labour Minister Thulas Nxesi is expected to launch the Labour Activation Programme (LAP) in Kimberly in the Northern Cape.
Friday’s launch will be accompanied by a Jobs/Career fair.
Unveiled in April by Nxesi, the activation programme will afford Unemployment Insurance Fund (UIF) beneficiaries and unemployed youth with an opportunity to be integrated into the labour market or start their own businesses.
LAP was established within the UIF to enhance the department’s mandate through enhancing the employability of the unemployed through training; enabling entrepreneurship through enterprise development; preserving jobs through the Commission for Conciliation, Mediation and Arbitration (CCMA) and Productivity SA, and collaborating across government departments and entities to massify jobs, skills training and enterprise creation.
An amount of R23.8 billion will be allocated to implement the plan.
The department said the programme will result in the creation of six projects meant to benefit 13 684 people.
“So far, the programme has been successfully launched in eight provinces marking this the last in the current phase,” the department said in a statement.
READ | Nxesi launches skills training programme to assist unemployed citizens
Accompanied by Northern Cape Premier, Dr Zamani Saul, Nxesi will also present Jobs/Careers Fairs and Exhibitions under the tutelage of the Public Employment Services branch, which focusses on creating a platform for work seekers to meet prospective employers.
“Employers [at the Jobs/Careers Fairs and Exhibitions] have the chance to register work and learning opportunities, while work seekers have the chance to register on the department’s database, where they will be matched to opportunities.
“Work seekers are encouraged to bring along their identity document/card, curriculum vitae and copies of qualifications,” the department said.
The LAP launch will be held at Mittah Seperepere Convention Centre, West End, and the Jobs/Careers Fairs will take place at Galeshewe Stadium. Both events are set to get underway at 8am. – SAnews.gov.za
GabiK
Wed, 05/08/2024 - 13:34
In today’s rapidly evolving healthcare landscape, efficient management of medical practices is crucial for providing quality patient care while ensuring smooth administrative operations. The advent of technology has revolutionised the healthcare industry, offering innovative solutions to streamline various processes. Among these technological advancements, medical billing software, practice management software, EMR (Electronic Medical Records) software, and …