Latest news with #R1-million
Daily Maverick
2 days ago
- General
- Daily Maverick
People of Pennington: Tidy Towns pulls South Coast town into competition finals
Residents of Pennington, KwaZulu-Natal, are volunteering their time and money and working with the municipality to improve local services. Now, they're vying for Pennington to be crowned Town of the Year. Trimmed hedges, a walkable town, safety, cleanliness and a Blue Flag beach. It's these little things that improve the experience of a town, and despite challenges such as water outages and other service delivery issues, the residents of Pennington organise daily to help make the town pleasant and comfortable to live in. The chairperson of the Pennington non-profit organisation Tidy Towns, Viv Sandwith, says what they do is like putting lipstick on the town. Sandwith and her team at Tidy Towns played a big role in entering Pennington into a Town of the Year competition, which offers a R1-million prize. Sandwith and her team entered the town in the competition. They are all volunteers who do this work of organising the community over and above their day jobs or commitments. She said this was not possible without willing residents and daily community organising and building. She gave an example of a car park by the beach that Tidy Towns refurbished: 'You couldn't drive in this car park because of the potholes,' she said. 'So, we spent R350,000 repaving from scratch. We took out the tar and paved it. The bathrooms were unusable. They were so bad. And we got them renovated from head to toe. So, they're now like a five-star hotel inside. You can't go in because there's no water. So, basically, we put the lipstick on,' said Sandwith. Street groups 'Just to make our town look beautiful and feel clean. If the rubbish truck hasn't come because they're on strike, we organise rubbish collection. I've started a thing for street groups, so now every street in Pennington has a group and a leader. 'So, if I want to announce something, I put it on, and all the admins are in one group. I put it in one group and then they all spread it out. We can say, guys, rubbish trucks are not coming today, please keep your rubbish inside,' said Sandwith. Tidy Towns is a community-driven project. According to its web page, it is 'Supported by the joining hands of like-minded volunteers, private security companies, Umdoni Municipality, local Law Enforcement, the SAPS and the business sector. Participants are committed to restoring our public spaces to clean and safe environments, for the enjoyment of locals and visitors alike, whilst creating opportunities to improve the livelihoods of the committed cleaning teams created.' Sandwith said the street groups were also helpful because they helped foster safety, especially for the older people in the community. 'It's incredible, we're not living with potholes anymore. We're collecting money on our streets. We're fixing our potholes. Many of our streets are smooth sailing now because of the locals, so people are putting their own money in. But the important thing is that we never work outside of the municipality. I've got a very good relationship with them, with the beach manager. I had a meeting last week with the mayor, the municipal manager, and three of the GMs. We just sat and chatted,' said Sandwith. Despite continuous challenges with the Umdoni Municipality, the community pulls through to create a better community. A recent incident caused the Democratic Alliance (DA) in the Umdoni Local Municipality to write to the Public Protector, the Department of Forestry, Fisheries and the Environment, as well as lay an official complaint with the South African Human Rights Commission (SAHRC) 'over the Umdoni crisis that continues to cripple services'. This follows another staff strike that has paralysed operations amid calls for the mayor, Councillor Mbali Luthuli, and Acting Municipal Manager Nhlakanipho Khumalo, to go. The strike has entered its second week with no services being rendered. R1-million prize Pennington has got through the initial phases of kykNET's Dorp van die Jaar (Town of the Year) competition, beating competing towns in KwaZulu-Natal to become a finalist in the last round. Top towns from all participating regions in South Africa and Namibia are competing and the winner will win R1-million. Sandwith said they hoped to win so they could continue the work to upgrade and keep up the town. They hoped to buy a soccer kit for the local soccer team, install an outdoor gym, pay the guys who help clean up the town and other initiatives. 'We're going to refurbish the outside of the clinic and the library. Because this clinic serves a lot of Malangeni here,' Sandwith said. 'We want to add three bus stops. Oh, and we want to put in a fitness gym, [an] outdoor fit gym. So we want to put outdoor gym equipment for older people or kids. We want to help fix the roof of that hall because it needs work. We want to fix the showers up a bit here (at the beach),' said Sandwith. The town is small, and it is a retirement town, but it offers a variety of activities from golfing to beach activities and hiking. It also has special businesses such as the Basset Brewery, which has expanded to be a restaurant and nature sanctuary as it is built in what used to be a nursery. Andy Turner founded and runs the Doghouse Craft Café with his partner Natalie Danks. They offer tasting trays and advice on which meals to pair with the craft beer they offer. Turner said that the business originated when he was still making beer at home just for himself. Craft beers 'So I was brewing a little, 20 litres at a time, just trying to make the styles that I knew from Europe. 'And the first one I ever made that I was really proud of, which was good enough to show my friends, was an English bitter type of beer, so I called it Bassett Bitter.' Now they offer a variety of beers with certain crafts blended specifically for different seasons. Turner said the café and brewery had attracted beer enthusiasts from all over the world, along with their pies. He noted that a lot of people liked the beers that tasted most like commercial lagers, but others were more experimental and liked to be exposed to different beers. Danks moved to Pennington 17 years ago and says she loves the do-it-yourself spirit of Pennington residents — 'because either you are going to moan about the problem, or fix it'. DM
The Citizen
3 days ago
- Automotive
- The Citizen
Will rare Volkswagen Citi Golf find new home for a cool R1-million?
Bid of R550 000 for this rare VW hatchback was rejected at a local auction. A VW Citi Golf Mk1 Limited Edition, with 29km on the clock, took bidding at an auction in Bryanston last week to R550 000. This lofty number that many enthusiasts thought would see the iconic car go to a new owner. But the reserve price was not met and rumour has it that this number was almost double that a staggering R1-million. The original owner would have paid R113 500 for the car off the dealer's floor in November 2009. According to a South African inflation calculator, R100 in 2009 is worth R216.76 in 2025. And this translates into a price of only R246 022 today. But we all know that nothing over the past 16 years has gone up by the rate of inflation. ALSO READ: Very rare VW Citi Golf set to fetch big bucks at local auction Low mileage key Rather take a basic return on a R100 000 investment at a local bank, using a rate of 9%. Then the value of this VW Citi Golf Mk1 Limited Edition rises to a more realistic R450 000. Maybe the price offered at R550 000 is not a bad one, but the real value with a car like this is that it's number three of the last 1 000 Citi Golfs ever produced. And when you add in the fact that it is like new with only delivery mileage on the clock, R1-million might just be the magic number. Time will tell. The introduction of the VW Citi Mk1 in 2009 was a send-off and the closing of the final chapter of the best-ever selling hatchback in South African motoring history at the time. Citi had provided South African motorists with a fun, unique, affordable driving package for 25 years. It had defied all marketing norms and theories of how long a lifecycle of model in a brand can continue. ALSO READ: WATCH: Iconic Basil Green Ford Capri Perana sells for R700k at Johannesburg auction Volkswagen of South Africa introduced the Golf 1 in 1978. And the Citi Golf made its first appearance on South African roads in 1984. The Citi was a more affordable alternative to bigger more expensive 'Jumbo' Golf IIs that hit our roads in the same year. Various Citi Golf editions The VW Citi Golf stayed fresh over the years by the ongoing introduction of special and limited-edition models such as the Designa, CTI, Deco, Sonic, Wolf, Bafana Bafana, R Line, Xcite, Billabong and GTS. The Citi Golf Mk1 features the 74kW 1.6-litre fuel injected engine and not the iconic 1.8-litre powertrain from the legendary GTi and CTi. It also came fitted with 15-inch, gunmetal painted alloy wheels; polished exhaust tailpipe, dark taillights, double headlights and chrome highlight around grille. The interior has sport seats with partial leather, leather steering wheel, the original golf ball gear knob, floor mats with Mk1 logo and red stitching detail throughout. And the car was only available in two colours; Black and Shadow Blue metallic.
Daily Maverick
08-07-2025
- Business
- Daily Maverick
Crypto Corner: Crypto can play a role in the virtual and physical property game
Cryptocurrency is increasingly moving into the real world with even the US Federal Housing Finance Agency considering crypto in deciding whether someone has enough assets to qualify for a home loan. A recent conversation with a game developer about his exploits in the metaverse revealed something to me that I had never quite understood. You see, like most rational adults, I couldn't understand how and why people would spend money on virtual property. There's infinite supply because the developers can just make more space, right? Apparently not. When you're buying virtual property, you're actually buying compute capacity (or computing power) on a server somewhere, and that costs money. Your NFT is like your house key – and GPS coordinates to let that particular part of the internet know where it is (the interplay between the internet and private blockchains is complex, but I digress). This transaction is also done via the crypto token associated with that blockchain, which is Solana in this particular case. What is concerning is that the developer quickly swaps to a stablecoin and then moves to an exchange to cash out – because some bills can't be paid with crypto, yet. Meanwhile, in the meatspace (that's what early metaverse enthusiasts called the physical world), the US Federal Housing Finance Agency is considering cryptocurrency when deciding whether someone has enough assets to qualify for a home loan. So if someone owns R1-million in bitcoin held on Binance, for instance, that might help boost their application. Why is it considering this? Because the housing market is struggling under high interest rates and including crypto could help more people qualify for loans. It also aligns with a Trump administration push to make the US a global leader in crypto innovation. This is also exactly the kind of thing that is quite catchy for emerging economies that are looking to capitalise on the crypto momentum. If the idea spreads here, I wonder if that game developer's crypto earnings could be used to secure a traditional home loan. He could then systematically convert his virtual property gains into rands to pay off the real-world property debt. DM This story first appeared in our weekly Daily Maverick 168 newspaper, which is available countrywide for R35.
The Citizen
02-07-2025
- Politics
- The Citizen
KwaDukuza mayor and deputy-mayor resign under provincial party pressure
KwaDukuza municipality mayor Ali Ngidi and deputy-mayor Sicelinjabulo Cele resigned this afternoon under pressure from the provincial African National Congress (ANC). The decision was announced at a briefing in KwaDukuza following the meeting of a high-level delegation of senior provincial leadership led by ANC provincial task team co-ordinator, Michael Mabuyakhulu. Ngidi and Cele had been in the roles for just under eight months after being elected on November 5 last year. They have both handed in their resignation letters but will continue to serve until new leadership is elected. 'The ANC has committed itself to rebuilding and renewal. We have said that we will act in the interests of our people and our decisions are informed by nothing else but the interests of our people,' said Mabuyakhulu. 'Anyone has the right to interpret our decision as they deem fit, but we are consistent in the message that we put our people first' The party had previously launched an investigation into misconduct allegations at KwaDukuza following a series of scandals, including the hiring of vehicles for over R1-million and a monthly personal security bill for the mayor of just over R173 000. Ngidi and Cele have been asked to repay a portion of the funds used for car hire. They will only settle the expenses incurred before council formally approved car hire for them. The mayor, who was supposed to use one of the cars as a backup, will also need to repay the expenses for that period. Aside from these scandals, Ngidi presided over a disastrous period for the municipality. During his tenure, the municipality experienced widespread electricity blackouts between December and February and the highly-publicised embezzlement of R35.7-million in January, as well as strikes from hundreds of workers more recently. Separate investigators from the Special Investigating Unit, Department of Co-Operative Governance and Traditional Affairs (Cogta) and National Energy Regulator of South Africa (Nersa) are all also on site in KwaDukuza to look into alleged mismanagement. Growing calls for resignation from civic society have added further pressure. Combined, it made for an incredibly difficult period in office for Ngidi after taking over from Lindile Nhaca, who was axed at the end of September last year. No date has been announced for the mayoral and deputy-mayoral elections, nor any replacement candidates. It took just over a month between Nhaca's suspension and the election of Ngidi and Cele last year. Stay in the loop with The North Coast Courier on Facebook, X, Instagram & YouTube for the latest news. Mobile users can join our WhatsApp Broadcast Service here or if you're on desktop, scan the QR code below. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
Daily Maverick
02-07-2025
- Business
- Daily Maverick
Get life insurance right for retirement — here's what to look for in a policy
Here's how to structure a policy, manage premiums and avoid unhappy financial surprises. A good life insurance policy pays out a tax-free lump sum to your beneficiaries, helping them to replace your income, settle debts and meet long-term financial goals like education or housing. It also offers immediate liquidity, unlike inheritance payouts, which could take months – or longer – to materialise. Because the cost of dying can far exceed what money has been saved, a life insurance policy could deliver more value than a traditional investment. Saving R1,000 a month takes decades to reach R1-million, but a monthly R1,000 premium could secure that cover almost immediately. Retirement is a time when you should be enjoying the returns on your savings and investments, says Ester Ochse, product head at FNB Integrated Advice. 'If one is married, it's very important to ensure that the surviving spouse is looked after in terms of having a home while having their living expenses and, most notably, medical expenses covered.' What to look for in a policy 'Ensuring the long-term sustainability of a life insurance policy requires a strategic approach that prioritises future affordability over immediate savings,' says Jonathan Nel, technical head at GrowthHouse Financial Planning Services. Policies with low starting premiums often escalate sharply later, leaving retirees struggling to pay. The most effective strategy is to select a policy with a stable and predictable premium pattern, even if it means a higher initial cost, Nel advises. Premiums are typically based on your age, gender, health, smoker status, occupation and lifestyle. Some escalate by age band, such as a 6% escalation annually from 18 to 25, and an 8% escalation from 26 to 35. 'You should compare different premium patterns and take your current affordability and personal circumstances into account,' says Sean van Zyl, financial planner at Old Mutual Personal Finance. Choose quality cover Whole-of-life policies provide more certainty than accident-only cover, Nel says. 'It's crucial to avoid cheaper options that only cover accidents or specific events, as many people mistakenly believe 'accident' coverage extends to all death-related events.' Ensure that your policy includes an annual benefit increase and confirmed underwriting before the contract is signed, and that a clearly defined sum is assured. Review annually Premiums may be reviewed by insurers, but you should initiate regular reviews yourself. Nel advises doing this annually and especially after life-stage events such as marriage, divorce, the birth of children or when taking on significant debt. Removing redundant add-ons, like unused premium waivers, can also cut costs. Compare apples with apples When shopping around for policies, Van Zyl recommends looking beyond the monthly price (see below). Key questions to ask: Is the premium guaranteed or subject to escalation?; Does the sum assured (amount of life cover) increase over time?; What exclusions or waiting periods apply?; How flexible is the policy if your life circumstances change?; and What's the insurer's claim reputation? DM This story first appeared in our weekly Daily Maverick 168 newspaper, which is available countrywide for R35.
