Latest news with #GoldCards
The South African
a day ago
- Business
- The South African
Golden Arrow hikes bus fare prices for commuters
Commuters in Cape Town are set to face higher travel expenses starting on Monday, 11 August, as Golden Arrow bus services enforces a 4% fare increase across all routes. The hike comes in response to rising operating costs, which the company says have reached unsustainable levels, forcing them to adjust fares despite previous efforts to delay increases. In a statement, Bronwen Dyke-Beyer, Golden Arrow's spokesperson, explained, 'We've made concerted efforts to delay annual fare increases, but due to continued and widespread increases in operating costs across our supply chain, we are no longer able to delay further.' The company had postponed a scheduled fare increase in December 2024 to lessen the burden on commuters, but the latest adjustments are deemed necessary to ensure the continuation of services. The new fare structure will see cash fares rise proportionally, while Gold Card users will still benefit from a 45% discount on weekly and monthly tickets. However, pensioners will now pay R78.50 for their tickets. New Gold Cards will remain priced at R40, which is a one-time purchase cost. Despite Golden Arrow emphasising that its interim contract with the Western Cape Government allows for such fare adjustments, the timing has sparked concerns. With high fuel prices and escalating living costs already stretching household budgets, the fare increase adds further strain to commuters' finances. Golden Arrow has stated that the fare increase is necessary to maintain service quality and continuity. However, for many commuters, especially those already on tight budgets, the financial pressure is mounting. While the Gold Card discount remains a key cost-saving option, the lack of major fare relief raises questions about the future affordability of public transport in Cape Town. As the company and government work to address these issues, experts are suggesting that innovative public-private partnerships may be crucial to securing long-term, affordable transport solutions for the city's commuters. 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.
The South African
22-06-2025
- Business
- The South African
Free transport helps job seekers in the Western Cape
The Western Cape Government has rolled out Phase 2 of its 'Getting You to Work' Jobseeker Travel Voucher Programme, expanding efforts to remove transport costs as a barrier to employment. At the Mitchells Plain Town Centre Library, more than 300 unemployed residents gathered to register for Gold Cards, which provide free travel via Golden Arrow Bus Services across the Cape Metro. The expansion builds on the initial success of Phase 1, launched in February 2024, which saw over 3700 residents sign up through 150 employer partners. The programme, part of the province's Growth for Jobs Strategy, aims to connect job seekers to employment, training, and interviews. Western Cape Mobility Minister Isaac Sileku said, 'We know from our data that those who received vouchers had a greater chance of attending interviews, securing work, and participating in skills development.' Phase 1 had particularly high uptake in areas like Mitchells Plain, Khayelitsha, Delft, Gugulethu, and Philippi, highlighting the critical need for this kind of intervention. Unlike Phase 1, which required registration through an employer, Phase 2 now allows job seekers to register online independently. Once registered, individuals can collect a Gold Card, valid for six free trips between 9:00 and 15:00 on weekdays until March 2026, at Golden Arrow kiosks by presenting an ID. The Western Cape Mobility Department described the project as more than just a transport solution. 'This programme is about opening doors and restoring dignity. It is about recognising that every person deserves a fair shot at opportunity,' the department stated. The government has urged employers to register as official partners and distribute vouchers to prospective employees. 'By assisting job seekers with free transport, the programme not only helps individuals and families, but strengthens the provincial economy by connecting people to opportunities,' the department added. 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.
Time of India
29-05-2025
- Business
- Time of India
Trump's $5 Million Gold Card Visa Plan: Why experts say it may never become a reality
The ambitious Trump Gold Card visa programme, touted as a potential economic gamechanger and a shortcut to U.S. residency for wealthy foreigners, may never move beyond a campaign concept, according to leading immigration experts and legal analysts. Despite high-profile endorsements and repeated declarations of an imminent rollout, the initiative currently lacks legal backing, operational structure, and a realistic applicant base, stakeholders have said, as mentioned in a report by Forbes. A Concept Without a Framework Marketed as a $5 million entryway into the United States—complete with residency rights, a citizenship track, and possible tax advantages—the Donald Trump Gold Card visa was introduced earlier this year by U.S. President Donald Trump and his ally, Commerce Secretary Howard Lutnick. The proposal suggests it could replace the existing EB-5 Immigrant Investor Program , which currently allows foreign nationals to gain residency through investments of $800,000 to $1 million and job creation requirements. However, immigration experts point out that no legislation has been introduced, nor are there details of a formal structure. 'There is no real programme, no enabling law—just a marketing pitch,' said Nuri Katz, founder of Apex Capital Partners, who has advised ultra-high-net-worth individuals on immigration for over three decades. Katz stressed that the U.S. Congress would have to enact new immigration and tax laws before any such programme could take effect. Live Events Trump's Vision: Ambitious but Impractical? President Trump has floated numbers as high as $50 trillion in potential revenue, claiming the sale of 10 million Gold Cards would more than erase the national debt. Lutnick has since tempered the projections, suggesting $1 trillion in revenue from 200,000 applicants. But analysts remain skeptical. 'The math simply doesn't support the vision,' Katz told reporters. 'In my experience, investors rarely commit more than 10% of their net worth to an immigration programme. So unless an individual is worth $100 million or more, they won't even consider this.' According to a Henley & Partners report, there are fewer than 30,000 non-American centimillionaires worldwide—far fewer than the figures being pitched by the administration. Legal and Technical Barriers Persist The programme's digital infrastructure has also drawn criticism. Although a website— expected to go live this month, visitors are instead met with a placeholder page and malfunctioning registration prompts. The Department of Commerce has not provided clarity on when or whether the site will officially launch. According to the American Immigration Lawyers Association, no U.S. President can unilaterally create or alter visa categories. The current EB-5 programme, reauthorized through 2027, would remain in place unless Congress amends existing law. Skepticism Mounts Among Wealth Managers Katz, who advises international clients, said he would not recommend participation to any investor under current conditions. 'Without legislation and regulatory clarity, even submitting personal information on a website could pose risks. We don't know where that data would end up,' he warned. In a telling moment, Katz dismissed Lutnick's recent claim that 1,000 Gold Cards were sold in one day—allegedly generating $5 billion—as 'implausible and unserious.' Origins in a Conversation, Not Policy The genesis of the Trump Gold Card idea reportedly came from hedge fund manager John Paulson, who suggested monetising visas during a conversation with Trump. 'Why do we give them away? We should sell them,' Paulson allegedly said, prompting Lutnick to develop the proposal. But translating a dinner-table idea into federal immigration policy, experts say, will require more than bravado and branding. FAQs What is the Trump Gold Card visa programme? It's a proposed visa initiative by U.S. President Donald Trump, offering U.S. residency and a path to citizenship to wealthy foreigners in exchange for a $5 million investment. Has the programme been officially launched? No. As of now, it remains a concept without a legal framework or legislative backing, according to immigration and legal experts. Economic Times WhatsApp channel )
IOL News
29-05-2025
- Business
- IOL News
Are SASSA beneficiaries losing money by switching to personal bank accounts?
A growing number of SASSA beneficiaries are opting to receive their grants through personal bank accounts. Image: Nokuthula Mbatha/ Independent Newspapers. The North West Legislature's Portfolio Committee on Health and Social Development has raised serious concerns over the growing trend of social grant beneficiaries opting to receive their payments through personal bank accounts, a move that could be costing them a portion of their much-needed support. During an oversight meeting held with the South African Social Security Agency (SASSA) and the Department of Social Development, Committee members were briefed on the migration from the traditional SASSA Gold Cards to the newly introduced Postbank Black Cards. The migration was prompted by a South African Reserve Bank (SARB) directive following a security breach involving the Gold Cards. However, it emerged that SARB has now suspended the migration process indefinitely. Beneficiaries are currently permitted to continue using their existing SASSA Gold Cards beyond the original May 31 deadline, a shift the Committee believes must be communicated to avoid panic and confusion. "People were rushing to switch cards, some even under pressure. Now, they need clarity and reassurance that their current cards are still functional. You need to ensure that this is communicated widely,' urged Committee Chairperson, Hon. Karabo Magagane. The Committee expressed deep concern over SASSA's revelation that 43,945 grant recipients have chosen to bypass both the SASSA Gold Card and the Postbank Black Card systems, instead opting for direct bank payments. While this may offer perceived convenience, the Committee fears that the associated transaction fees at commercial banks are quietly eroding the actual value of the grants. 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 Next Stay Close ✕ Ad loading 'These beneficiaries may not realise that they are losing money to transaction fees and service charges, funds that are meant to support their most basic needs,' Hon. Magagane cautioned. Further compounding the financial strain, Committee members highlighted the informal deductions being imposed by some local retailers. Local tuck shops reportedly charge R10 for every R100 withdrawn, a surcharge that further reduces the amount of money recipients receive. 'This completely defeats the purpose of a social grant. A grant is supposed to alleviate poverty, not get eaten up by unnecessary charges,' one member stated. The Committee also slammed the limited number of Postbank conversion sites in the North West. Currently, only 12 sites are operational across the province, a situation described as 'grossly inadequate,' particularly for elderly beneficiaries living in remote areas. "Many of our elderly citizens live far from these centres and are not in a position to travel long distances just to access a card. This could be a driving factor behind the shift to personal bank accounts," said Hon. Magagane. In response to the pressing challenges, the Committee pledged to intensify its engagement with SASSA and Postbank, the two State-Owned Entities tasked with grant disbursement, to push for more accessible service points, better communication, and increased public awareness. "We are committed to ensuring that no beneficiary is left behind. We will push for ongoing awareness campaigns, improved accessibility, and sustained outreach efforts so that every grant recipient understands their options and the implications of each," Hon. Magagane said. The Committee is expected to reconvene in the coming weeks to assess progress and implementation of the proposed solutions. IOL News Get your news on the go, click here to join the IOL News WhatsApp channel.
Time of India
12-05-2025
- Business
- Time of India
Elon Musk gives an update on America's Gold Card Visa programme: We are going to ...
Tesla CEO has given an update on President 's Gold Card visa program. In a post on Twitter, Elon Musk wrote that the Gold Card Visa programme is quietly being tested to ensure the system works properly. Tired of too many ads? go ad free now "We're doing a quiet trial to make sure the system works properly. Once it is fully tested, it will be rolled out to the public with an announcement by the President," Elon Musk wrote in a post on Twitter in response to a tweet from MarioNawfal. A task force under Elon Musk is reportedly working on the new US immigration initiative offering "Gold Card" residency visas for $5 million each. Engineers from Elon Musk's Department of Government Efficiency (DOGE) are working with the State Department, Department of Homeland Security , and U.S. Citizenship and Immigration Services to create a streamlined application system and website. According to a report in New York Times, the project is led by DOGE engineers Marko Elez and Edward Coristine, who are integrating federal vetting processes into the new system. Airbnb co-founder Joe Gebbia has joined, initially tasked with digitizing federal retirement systems. Elez resigned in February after controversy over a pseudonymous social media account linked to racist posts and eugenics-based immigration views, but he has since collaborated with federal agencies. Coristine, a 19-year-old known online as 'Big Balls,' was previously fired from a 2022 internship at Path due to a data leak. What is the Gold Card Visa The Gold Card program aims to fast-track residency for high-net-worth individuals, bypassing the lengthy traditional visa process with expedited background checks and interviews, targeting approval within two weeks. Unlike the EB-5 visa program, which offers green cards for $800,000-$1.05 million investments creating 10 U.S. Tired of too many ads? go ad free now jobs, the Gold Card focuses on revenue generation, replacing the EB-5's $4 billion annual contribution. Gold Card offers Permanent Residency, Not Citizenship Commerce Secretary Howard Lutnick claimed 1,000 Gold Cards have been sold, granting permanent residency to vetted individuals who pay $5 million and abide by U.S. laws. Musk is reportedly developing the software, with a launch expected soon. Former President Trump, who first proposed the Gold Cards in February as a pathway for 'very high-level people,' recently showcased a mock-up featuring his image, the Statue of Liberty, and a bald eagle, projecting a debut within weeks.
