Cogta MEC paves the way for pension fund and medical aid for Amakhosi
The pension fund will be administered by Standard Bank while Bonitas will manage the medical aid.
At a launch in Ulundi on Thursday, Buthelezi said the Amakhosi in the province had complained for years of not receiving proper funding and benefits.
'This initiative is going to bring back the dignity of Amakhosi who have been marginalised by the government for many years,' said Buthelezi.
He said he was aware his department would receive criticism from some quarters for wasting money on improving conditions for Amakhosi.
'I know many people are asking what is the job of Amakhosi in our communities and when we invest in them, they always accuse us of wasting money,' said Buthelezi.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The South African
15 hours ago
- The South African
Could South Africa be ATM-free in a few years?
South Africa's cash landscape is changing fast – and the humble ATM may soon be obsolete. According to a recent assessment by MyBroadband , the country's major banks have collectively slashed over 8 000 ATMs from their networks over the last five years. This marks a steady retreat from physical money, with consumers opting for cards over cash. ATM numbers tell a story The Big Four – Standard Bank, Absa, FNB, and Nedbank – have all dramatically reduced their ATM footprints: Bank 2019 Latest figures Difference Absa 8 656 5 138 -3 518 FNB 5 780 4 770 -1 010 Nedbank 4 257 4 199 -58 Standard Bank 9 321 5 562 -3 759 That's a combined drop of over 8 000 ATMs since 2019. In contrast, however, Capitec is bucking the trend – having expanded its network from 5 011 in 2019 to 8 798 machines, now operating more ATMs than any other bank in South Africa. And this isn't just a local phenomenon. As reported by BusinessTech, a Merchant Machine study shows that countries worldwide are pulling back on ATMs. South Africa has been shedding ATMs at an average annual rate of 2.67% since 2012. At that pace, the country could have zero ATMs left in just 32 years. Well, a few forces are converging to drive this decline. These include: MyBroadBand reported that a joint report by Discovery Bank and Visa found that 84% of South Africans prefer digital payments or cards over cash. 67% use cash only a few times a month or not at all. Among younger consumers, 83% increased their use of digital payments in 2024 compared to 2023. As confidence in digital channels grows, so does the pressure on cash infrastructure. Fewer withdrawals mean less demand for ATMs. The drop in ATM usage is more noticeable among higher-income individuals, the very market that Standard Bank, FNB, Absa, and Nedbank largely serve. As this demographic leans heavily into digital, banks are adapting accordingly. Standard Bank's Kabelo Makeke also explained that the bank has rolled out new-generation ATMs which offer faster service and more features, such as real-time validation, cash recycling, and bulk cash handling. These machines do more with less, allowing banks to reduce total units without hurting service. 'We renewed our ATM network by introducing new technology devices with significantly improved transaction speed and overall quality of service,' Makeke said, as per MyBroadBand . And while they won't vanish overnight, the direction is clear: fewer ATMs, more digital banking. Unless something reverses the current trend, South Africa's ATM-free future may not be a question of if , but when . Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.

IOL News
a day ago
- IOL News
Amakhosi Legacy Plan rolls out medical aid and pension perks for traditional leaders
KwaZulu-Natal MEC for Cooperative Governance and Traditional Affairs, Reverend Thulasizwe Buthelezi, unveiled the Amakhosi Legacy Plan, where all KwaZulu-Natal Amakhosi will gain access to Medical Aid, a Pension Fund, and investments. Image: Supplied In a landmark development for traditional leadership in KwaZulu-Natal, a new initiative aimed at uplifting Amakhosi was unveiled this week. The 'Amakhosi Legacy Plan' is set to transform the way traditional leaders function within society by prioritising their welfare with benefits akin to those enjoyed by Members of Parliament and Councillors. The launch was officiated by Reverend Thulasizwe Buthelezi, the KwaZulu-Natal MEC for Cooperative Governance and Traditional Affairs (Cogta), who highlighted the significance of this initiative during a gathering at the KwaZulu-Natal Provincial House of Traditional and Khoi-San Leaders. 'This initiative aims to provide Amakhosi with peace of mind, ensuring they can build a lasting legacy for their families and retire securely,' MEC Buthelezi stated, underlining the plan's focus on security and dignity for traditional leaders and their families. Under the Amakhosi Legacy Plan, all Amakhosi in the province will benefit from access to essential services including Medical Aid, a Pension Fund, and various investment opportunities. This comprehensive programme is crafted to ensure that traditional leaders receive the necessary support throughout their lives, with a strong emphasis on providing security even after retirement. Buthelezi further mentioned that this ambitious programme is not just for the Amakhosi; the rollout will subsequently extend to Traditional Council Secretaries and Izinduna, thereby encompassing a broader spectrum of traditional leadership across KwaZulu-Natal. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Chairperson for the KZN Provincial House of Traditional and Khoi-San Leaders, Inkosi Sifiso Shinga, expressed heartfelt gratitude to the MEC on behalf of the Amakhosi. He described the unveiling of the Amakhosi Legacy Plan as a significant breakthrough for the community of traditional leaders, reflecting a noticeable change since Buthelezi's appointment. 'We have seen tangible improvements and a series of practical programmes aimed at uplifting and empowering Amakhosi,' he noted appreciatively. During the event, MEC Buthelezi also introduced representatives from Standard Bank, the financial institution facilitating these essential packages. He took the opportunity to thank the bank's management and staff for their commitment to developing suitable products tailored to the needs of the Amakhosi. In addition to this monumental plan, MEC Buthelezi concluded the meeting by distributing laptops, printers, and data cards to Amakhosi participating in the University of KwaZulu-Natal (UKZN) Programme. This educational initiative aims to enhance their skills in Leadership, Governance, and Administration—further empowering traditional leaders to fulfil their roles more effectively. IOL

TimesLIVE
2 days ago
- TimesLIVE
Cogta MEC paves the way for pension fund and medical aid for Amakhosi
KwaZulu-Natal co-operative governance and traditional affairs MEC Thulasizwe Buthelezi has launched a pension fund and medical aid scheme for Amakhosi. The pension fund will be administered by Standard Bank while Bonitas will manage the medical aid. At a launch in Ulundi on Thursday, Buthelezi said the Amakhosi in the province had complained for years of not receiving proper funding and benefits. 'This initiative is going to bring back the dignity of Amakhosi who have been marginalised by the government for many years,' said Buthelezi. He said he was aware his department would receive criticism from some quarters for wasting money on improving conditions for Amakhosi. 'I know many people are asking what is the job of Amakhosi in our communities and when we invest in them, they always accuse us of wasting money,' said Buthelezi.