Latest news with #PTY
The Citizen
3 days ago
- Entertainment
- The Citizen
Excitement builds for eThekwini Kota Festival
DURBAN is set to come alive with flavour, entertainment, and local culture when the much-anticipated eThekwini Kota Festival returns to the city on August 2. The vibrant event, which promises an unforgettable experience for food enthusiasts, families, and entrepreneurs alike, will take place at the Kings Park Stadium. The eThekwini Kota Festival is a feast for the senses, centred around the beloved 'kasi' delicacy known as kota. Known by different names across the country — Sphahlo, Skhambane, or bunny chow — this culinary favourite will take centre stage as attendees indulge in its rich flavours and cultural significance. According to the organisers, Goldex Entertainment (PTY) LTD, the festival is not just a celebration of food but a lifestyle event that brings together communities and showcases the essence of local street food culture. 'The event offers a dedicated children's section with games, art and fun-filled activities, making it a family-friendly event. Local businesses and entrepreneurs have the chance to sell their products and services to also contribute to economic growth,' said the event organisers. Also Read: WIN tickets: BOUNCE Cornubia unveils exciting upgrade and new miniBOUNCE Zone The children's section promises engaging activities such as giant jumping castles, wall climbing, swings, parachutes, and even mechanical bull rides. These fun-filled attractions will ensure that kids are entertained while parents explore the diverse offerings of kotas from 15 vendors and other local businesses. The Kota Festival provides an opportunity for local vendors to connect with a wider audience, contributing to economic growth within the region. From food stalls to artisanal goods, the festival embodies the spirit of community and collaboration. As music, art, and good food combine, attendees can expect a dynamic line-up of entertainment throughout the day. There's also an eating competition called Gimba with a prize to be won and vendors voting app competitions that run on the hour from the start of the event, confirmed the organisers. The theme of the day is military, 'all shades of military'. Gates will be opened from 10:00 to 20:00. For more information or to purchase a ticket, visit For more from Berea Mail, follow us on Facebook, X and Instagram. You can also check out our videos on our YouTube channel or follow us on TikTok. Click to subscribe to our newsletter – here At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
04-07-2025
- Health
- The Citizen
Tzaneen private hospital site confirmed, services revealed
TZANEEN – Manoge Holdings (PTY) LTD, are the owners of the new healthcare centre which was recently approved by the Greater Tzaneen Municipality Council. According to information in Herald's possession the company bought the Erf 3418 Tzaneen Ext 78 for R2.214m, which is said to be located just before Olive Tree Coffee Shop, where people currently do subsistence farming. The private hospital facility will offer the following services: Mother and childcare. General surgery. Orthopaedics. General medicine. Ear, nose and throat. Ophthalmology. Advanced radiology. Day clinic. Oncology. Mental healthcare. Rehabilitation centre with an adjoining pharmaceutical depot. 'We envisage an 80-bed acute care facility initially with the capacity to accommodate up to 120 beds on expansion when necessary. The facility needs to provide innovative and green healthcare for sustainable healthcare solutions. A facility of this magnitude will be a first for the province,' according to the land application document. The centre will also provide much needed employment opportunities which will exist during construction with employment of locally based companies for the construction of the project. Permanent placements for the running of the facility will be available with the view of sourcing locally. Permanent placements will include various skill sets and employment will be available in managerial, healthcare provision, pharmaceutical, food services, security officers and general work. Cllr Collen Mathebula, during the council sitting, said the centre will not only benefit residents of Tzaneen but also serve surrounding Mopani areas, including Giyani, Phalaborwa, Hoedspruit, and others. He added that the project is is a need in the area, as the existing health institutions don't have services such as oncologists. However not everyone agrees with the new development, Ward 15 Democratic Alliance (DA) Cllr Chrizelle Dreyer objected to the proposal, arguing that Tzaneen already has sufficient medical infrastructure. Read more: New Tzaneen healthcare centre approved by council 'I want to know why are we considering this unsolicited bid if we already have healthcare facilities in Tzaneen, while there are other wards which don't even have a mobile clinic. And, the current sanitation infrastructure at the other part of Ext 78 is not operational, how will this facility get operational sanitation infrastructure if the existing infrastructure is failing the residents of Ext 78. 'In 2023 this municipality declined an offer from a well known business in town to expand, they wanted to buy a much smaller erf for a lot more, yet it was declined on the basis of 'advanced plans' for this erf. And until today, nothing has happened on this erf. Although we understand the revenue benefits and job creation of the idea of a new healthcare facility. We have some concerns regarding it, GTM is setting a bad example about selling GTM land through unsolicited bids,' Dreyer explained. Mathebula says there is nothing wrong with an unsolicited bid, as the municipality purchases land in two ways, the one where they identify land and sell it to buyers or buyers identify land and apply to buy it, which Manoge did and was approved. At the moment information on when construction will start is not yet available. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
IOL News
26-04-2025
- Business
- IOL News
Constitutional Court orders Akani eGoli to pay legal costs in slip-and-fall case
The Constitutional court has ordered Akani eGoli (PTY) Limited to pay legal costs of a woman who slipped and fell at Gold Reef City Casino Image: File The Constitutional Court has ordered a South African company, Akani eGoli (PTY) Limited, which uses Gold Reef City Casino as its trade name, to pay the legal costs of its customer, who sued it for damages after she slipped and fell at Gold Reef City Casino. The customer who is the applicant in this matter, Shaynaz Prithilal, said she fell in September 2018. She initially sued Tsogo Sun Gaming Limited and pleaded that they owned and operated the Casino. However, in December 2021, Tsogo Sun submitted that Akani owned and operated the casino. Prithilal then served an application to Akani to join this matter as a second defendant. Akani opposed the joinder application because Prithilal's claim had passed the applicable time. However, Prithilal was successful. In February last year, the matter was argued at the High Court and the ruling was that Prithilal pays the legal costs of Akani. She appealed this decision as she said having to pay the legal costs of Akani was unexplainable. Both the high court and the Supreme Court of Appeal (SCA) dismissed her appeal, she then took the matter to the apex court. The Constitutional Court said that it was in the interest of justice for it to entertain Prithilal's application, as the high court did not give its reasons for the order it issued. Akani argued that there were no grounds to interfere with the high court's discretion. 'In the absence of reasons it is impossible to know that the high court exercised a discretion at all, and it is certainly not possible to say that it made the order by acting on correct principles and considering all relevant factors,' said Justice Owen Rogers.
Forbes
19-04-2025
- Business
- Forbes
How To Find Massive Dividend Deals In The Tariff Panic
Red Tariffs newspaper headlines with assorted economy related topics On one front, this tariff pandemonium changes nothing for us: We still see our favorite high-yield investments—8%+ paying closed-end funds (CEFs)—as the best choice to anchor your retirement portfolio. In fact, times like this add to their appeal even more. That's because, in a crash, we CEF investors don't have to sell a single unit of our funds to get the cash we need to fund our lives. Our big dividends—many of which roll in monthly—take care of our needs for us. Then there's CEFs' discounts to net asset value (NAV, or the value of their underlying portfolios). This unique-to-CEF measure tells us when a fund is cheap or pricey. And right now, thanks to the tariff panic, we've got a raft of discounted CEFs to choose from. And there's one more edge we can exploit with CEFs: the fact that CEF investors are very conservative and lean heavily toward funds with long track records. This tendency to go with the tried-and-true opens up an opportunity for us. That's because many CEF firms, like Nuveen, PIMCO and BlackRock, have CEFs of all ages in their stables. Here's the thing, though: Whether the fund is 'young' or 'old,' they all tend to be run by the exact same people! So we can, in effect, buy a younger CEF and take advantage of its discount. Then we simply ride along as it ages, and its valuation nears that of its older sibling. Let's zero in on this opportunity by looking at three CEFs from PIMCO, a California-based firm that's long had a grip on CEF investors' imaginations: the PIMCO Corporate & Income Opportunity Fund (PTY), PIMCO Access Income Fund (PAXS) and PIMCO Dynamic Income Strategy Fund (PDX). PIMCO's 'brand halo' makes it difficult to buy its funds at a discount. Let's start with PTY, far and away the oldest of our trio. Launched over 20 years ago, PTY sports an 11.2% yield that investors, well, love. It's also by far the biggest of the three, with $2.3 billion in assets under management, compared to $910 million for PDX and $665 million for PAXS. On the other side, you have PAXS, with a 12.3% yield, and PDX, which yields 7.9%. PAXS launched at the start of 2022, and PDX is a bit older, having held its IPO in 2019. But even that 2019 date is young by CEF standards; it makes PDX the second-youngest PIMCO CEF on the market. But PTY overshadows its two younger siblings because its age lets investors analyze its long-haul payout history. And that history is very favorable indeed: PTY Dividend Here you can see that PTY's payouts have been pretty steady over 20 years, which included the pandemic, the subprime-mortgage crisis, and the low interest rates of the 2010s. (The spikes and dips in the purple line above are special dividends.) While it's true that the regular payouts have dipped a bit (cut 13.6% since the fund's IPO), the average annualized yield on PTY has been 11.3% for investors who bought at the IPO date, as of this writing. To put that in perspective, someone who bought $100,000 worth of PTY has earned, on average, an income stream of $945 per month (a bit over $11,300 per year) without having to do a single thing. So, you can see why PTY has attracted a premium to NAV throughout its history. This simply means investors are willing to pay more for PTY than its portfolio is worth. It makes sense when you think about it: PTY gives investors a steady paycheck, which encourages them to stick with the fund. As a result, there are fewer shares of PTY on the market, since CEFs—unlike ETFs—tend to have a fixed share count over their lifespans. This means PTY's market price tends to drift upward more than its NAV does. Although that's been going up too: PTY Total Returns In total, PTY has earned an 11.7% annualized return on a NAV basis, as of this writing. That's higher than the 11.3% average yield investors have received, so you can see how PTY has been able to maintain payouts for over two decades. To be clear, for every dollar put in PTY, over $10 in profit has been generated. When you consider that, the fund's premium to NAV makes even more sense. And it follows that this premium would survive the tariff mayhem: PTY's record is just too good. Now let's shift back to the younger PAXS and PDX. They don't have the track records to attract investors like PTY does, even though they're managed by the same people. That's why we have seen PAXS's premium all but disappear amid the tariff panic, while PDX's discount has grown wider. PIMCO Discounts This is a clear buy signal, but let me back that call up with another chart showing these funds' dividend histories. PDX/PAXS Dividend History Now before we go further, yes, PDX's dividend line (in orange) looks a bit wonky. There are two reasons for that: One, the fund launched just before the pandemic and, at the end of 2020, it cut its distribution by more than half. Two, PDX moved from quarterly payouts to monthly dividends in March 2024, so the dividend went from 26 cents, when the fund paid its last quarterly dividend in March 2024, to 11.3 cents a month. That masked a big raise that looks like a dip in the orange line above. PDX Dividend History In reality, PDX increased its payouts by more than 30% in early 2024. PAXS meantime, has seen one hike to its regular dividend since launch, along with a big special payout in late 2022. That 'bonus' payout came as the markets were at their most fearful; thanks to PAXS's focus on debt, it can ensure strong payouts, even when stock markets are panicking. You'd think strong income plays like these would attract buyers, despite their young ages. And they no doubt will—but not now, with the tariffs causing terror among the most conservative investors. That fear has dragged down both funds' valuations, making both strong buys. Michael Foster is the Lead Research Analyst for Contrarian Outlook. For more great income ideas, click here for our latest report 'Indestructible Income: 5 Bargain Funds with Steady 8.6% Dividends.' Disclosure: none
