Latest news with #R1.4bn
The Citizen
06-07-2025
- Business
- The Citizen
Should you be mad at your lawyer for using AI?
While the legal fraternity has used AI to make it more efficient, it is also prone to making up fictitious case law. There's a reason lawyers get paid as much as they do, and why good lawyers get paid even more. Knowing decades of precedent, the intricacies of each case and creatively patching ones which support your case together — that takes years of graft. As in all industries, even though there are thousands of lawyers out there, there's that special handful who really have mastered the craft. Then you get the rest of us who aspire to be at that level. Some work toward it through personal development. Others have discovered artificial intelligence. As with any tool, it's important that you understand how it works in order for it to deliver the results you want. How to read a book is pretty understandable. How to search through an index, equally so, but it's not the grandest of ideas to give a lawyer a child's picture book titled 'How Birds Fly' and expect them to be able to land a 747. You'd be within your rights to have an expectation that they'd have some sort of pilot training first. Similarly, you don't just throw tech at a lawyer and say hey, your job, which you get paid above minimum wage to do, just got so easy that you can sit back and relax while Jarvis takes a break from building the next Iron Man to help your client settle their messy divorce. ALSO READ: Lawyers who steal: R1.4bn trust fund theft ignored It shouldn't take a rocket scientist to realise that typing 'write me an argument to win my case' and 'I have a client who caught their partner cheating with the pool guy and wants to divorce and take the three kids. What are similar cases in my favour?' will yield different results. It's not that much of a leap to understand that the quality of your AI 'research' is only as good as the information you give it. And if you don't understand how AI works or, worse, understand that each AI is different and based on differently prioritised datasets, you're not going to know how to ask it for what you want. To its credit, the legal fraternity is very welcoming of AI as a tool and globally, it's been adopted to create much more efficiency, especially in the mundane parts of the job. Is it prone to making up fictitious case law? Absolutely. And we've seen this in jurisdictions around the world. ALSO READ: Will AI replace your psychologist? You've got to admire the ballsiness of a lawyer who would approach a judge with a made-up case, but if we're honest, it's unlikely that they even knew what they were doing. Sounds right, looks right, everybody is claiming how awesome this tech is… let's just submit what it gives me. And yet, it is not right when it comes to case law. That's not entirely surprising. It's one thing to teach a bot to string a couple of emotional sentences together using a global database. It's quite another to have it formulate a cohesive legal argument using jurisdiction-dependent and often elusive legal sources. So if your lawyer gets busted for using AI to build your case and gets called out by a judge on it, then of course you should be upset about it. If your lawyer uses AI to get a bunch of cases together before they check them and put them together for argument themselves, that's just good sense. Nobody expects a lawyer to build a time machine, go back to every case that they reference and witness the full proceedings first-hand. We have a tool to avoid doing that: the written record. Similarly, it's not expected that you restudy an LLB every time you do legal research, and if AI is going to get you the result faster, it may even save you some fees. All you need to demand of your AI-using lawyer is that they compile and check the final product, because it would be pretty upsetting if you're sitting in court and the judge asks why you pleaded, 'click here for more information'. NOW READ: AI-powered online lawyer now available in SA
TimesLIVE
23-06-2025
- Business
- TimesLIVE
Harmony on track to meet production guidance
Harmony Gold, SA's biggest gold producer by volume, said it remains on track to deliver its production and cost guidance as the gold price continues to add shine to its performance. Harmony, which paid a record R1.4bn dividend in the six months ended December 2024, said it expects to meet the 2025 financial year guidance of between 1.4m ounces and 1.5m ounces 'comfortably' between the guided range of R1.02m/kg to R1.1m/kg. CEO Beyers Nel said underground recovered grades will be higher than the guided 6g/t while total capital expenditure for the year will be slightly below the guided R10.8bn. 'We have a firm grip on our costs, which are predominantly rand based and comprise mainly labour, consumables and electricity. We continue to benefit from the high rand per kilogram gold price and maintain a high level of certainty and predictability as it relates to our planning parameters,' Nel said. Harmony, which operates some of SA's deep level gold mines, also has operations in Papua New Guinea and Australia. The company has been on an acquisition path and last month announced the potential $1.03bn (R18.6bn) acquisition of MAC Copper in New South Wales, Australia, which is expected to produce more than 40 000 tonnes of copper annually and contribute immediately towards increasing free cash flow generation. 'Over the past three years, Harmony has transformed into a geographically diversified specialist mining company with a compelling gold and copper story. We continue creating meaningful value for our stakeholders through safe, profitable ounces and improving margins by delivering on our strategic objectives,' Nel said. He said Harmony will continue to allocate most of its project capital to its higher-grade, higher-quality, and lower-risk assets. 'This includes the extension projects at Hidden Valley, Moab Khotsong and Mponeng. We are also finalising the Eva Copper project's feasibility study and will provide an update on the outcome thereof when we release our year-end results in August 2025,' he said. The company is scheduled to release its 2025 financial results on August 28.
TimesLIVE
27-05-2025
- Automotive
- TimesLIVE
Zeda records lower revenue as corporate customers delay investment
Car rental group Zeda, which operates the Avis and Budget businesses, reported lower revenue for the half year to March as the challenging trading environment forced corporate customers to delay investment decisions, including fleet replacement and holding onto vehicles for longer. Small to medium enterprises (SMEs) also came under similar strain, particularly in the mining and transport sectors. Revenue was down 1.6% to R5.2bn. The leasing business segment delivered a solid performance, with revenue increasing by 5.6% to R1.4bn, underpinned by increased penetration within the corporate, heavy commercial fleet and the rest of Africa businesses. The leasing business maintained its growth trajectory, despite the overall delayed fleet investments, Zeda said. It said the upward trajectory of additional revenue was affected by corporate customers delaying replacement cycles and some constraints from SMEs with contracts in the mining and transport sectors in South Africa. Heavy commercial remains a steady growth pillar for Zeda, with a healthy order book. The car rental segment's revenue decreased by 4% to R3.8bn due to a drop in used car volumes. However, excluding the car sales business, rental revenue remained flat. 'We were able to defend the revenue levels despite a decline in the replacement and inbound business. Rental days increased by 2.5%, primarily driven by a 49% rise in the short-term subscription business, following an improvement in technology that made transactions easier for customers,' said Zeda. Zeda has on average more than 20,000 vehicles in its fleet in Southern Africa. Its customer segment base is diversified and consists of the private sector, public sector, insurance business (replacement), inbound market, domestic leisure market and short-term subscription. This business provides a range of self-drive and driven products and services, including car and van rental, chauffeur services and luxury vehicle services. 'In a period where traditional car rental and vehicle sales faced mounting pressure, our leasing, subscription and greater Africa strategies delivered, helping grow earnings, improve margins and continue investing for the long term. 'We achieved this through a stringent implementation of the operating model of financing right, buying right, using right and disposing right,' said Zeda CEO Ramasela Ganda. Zeda anticipates improved performance in the second half of its 2025 financial year, driven by stronger car sales, contract renewals and subscription momentum. Ganda said the bedrock of Zeda's growth pillars consists of the subscription business, the corporate leasing book, greater Africa, and the used car business. 'These pillars provide us with access to vehicles, markets and a disposal channel, which are core to our fundamentals, which remain strong despite the challenging trading environment.'
The Citizen
26-05-2025
- Business
- The Citizen
NPA lacking in lottery probe
Four ex-bosses 'key players' in looting, Scopa hears. Out of 19 separate matters involving lottery corruption that have been referred to the National Prosecuting Authority (NPA), only one is currently before a court, with no progress in getting the rest before the courts, parliament heard. Some of the charges, which include fraud, corruption and money laundering, date back to early 2022. This is according to two reports presented to MPs serving on parliament's standing committee on public accounts (Scopa). Those involved in the lottery probe Senior Special Investigating Unit (SIU) officials presented a pared-down progress report with highlights of their investigation to the committee. MPs were also given a more comprehensive 128- page version, which went into detail about what they had uncovered and named people involved. Among those named and referred to the NPA for prosecution are several former National Lotteries Commission (NLC) executives and board members, who oversaw the NLC at a time when it was overwhelmed by corruption. The list of names, headed 'key players in the lottery corruption', is broken into two: 'internal players' and 'external players', consisting of people the SIU has described as 'kingpins', and family and business associates. ALSO READ: SIU is not done with NLC yet, as more corruption allegations emerge Key players The SIU identified four executives and board members as key players in the looting. Former NLC COO Phillemon Letwaba: Last week, Letwaba was included in a Special Tribunal judgment that froze R25 million in assets acquired using plundered lottery funds. Former NLC board chair Alfred Nevhutanda: He used lottery funds to buy a Rolls-Royce and a luxury mansion, among other things. Former NLC board member William Huma: The Special Tribunal recently interdicted Huma from receiving R10 million from the sale of his Waterkloof mansion, which was paid for with lottery money. Former NLC Commissioner Thabang Mampane: Her weekend home on a golf estate was paid for with lottery money. R2 billion in fraud and corruption Members of Scopa listened in silence as the SIU explained in detail how they were currently investigating R2 billion in fraud and corruption. But they were told this amount could increase substantially as the SIU was continually receiving new information about further lottery corruption. 'This amount keeps increasing because we are currently receiving new tip-offs about corruption, as well as uncovering more and more during our investigations,' SIU chief operating officer Leonard Lekgetho told MPs. Gijimani Jim Skosana, an ANC MP, after hearing the extent of the looting, said: 'They were very relaxed, just like they were scooping ice-cream.' So far, the Special Tribunal and the Asset Forfeiture Unit have successfully frozen properties, vehicles and pensions worth almost R122 million. ALSO READ: Lotto heist: SIU almost done with second phase of R1.4bn NLC corruption probe Investigation The SIU has completed two phases of its investigation, with phase one involving R280 million and R247 million in phase two. It has also delivered its first report to President Cyril Ramaphosa. Phase three, which is expected to be completed by 31 December, so far involves R905 million. With new tip-offs coming in, the SIU says this will exceed the R2 billion 'value of contracts under investigation with potential civil litigation' it previously estimated. It has also referred Huma (an advocate), Lesley Ramulifho (an attorney who has been implicated in lottery corruption) and suspended NLC legal head Gugulethu Yako to the Legal Practice Council (LPC). Ramulifho is already in the midst of a disciplinary hearing at the LPC, following a GroundUp complaint against him. The SIU has also referred seven people and 14 companies to the Companies and Intellectual Property Commission (CIPC), asking for them to be placed on a delinquency list and be barred from registering companies in the future. NOW READ: Accounting firms compiled fraudulent financial statements for NPOs – SIU on NLC corruption
The Citizen
01-05-2025
- The Citizen
Legal Practice Council administrator accused of corruption loses Labour Court bid
Judge says disciplinary hearing against Zandile Madonsela, accused of colluding with attorneys, can go ahead An employee of the Legal Practice Council (LPC), accused of being involved in an 'elaborate and corrupt scheme' with attorneys, has failed in her bid to stop disciplinary proceedings against her. Johannesburg Labour Court Judge Edwin Tlhotlhalemaje, in a recent ruling, said it was clear that Zandile Madonsela was doing everything possible to frustrate the disciplinary process. She is accused of working with attorneys to falsify their audits and provide them with Fidelity Fund certificates and Certificates of Good Standing. Judge Tlhotlhalemaje said courts could only intervene in incomplete disciplinary proceedings in the most exceptional cases and dismissed her urgent application, ordering Madonsela to pay the LPC's costs. ALSO READ: Lawyers who steal: R1.4bn trust fund theft ignored Madonsela had been employed by the LPC in its Gauteng offices as an administrator in the Risk and Assessment Department since 2019. After receiving an anonymous tip-off, the LPC began an internal investigation which resulted in disciplinary proceedings against Madonsela and others who were accused of colluding with attorneys and taking money in exchange for falsifying audits and issuing the certificates. Madonsela was charged with fraud and falsifying documents used in the 'corrupt scheme' with attorneys. Before pleading to the charges, Madonsela launched urgent court proceedings seeking to have the disciplinary proceedings declared unlawful and a breach of her employment contract. She also argued that the LPC was in breach of a settlement agreement in terms of which it had been agreed that the disciplinary process against her would be terminated in exchange for her providing information to assist with the ongoing investigation. ALSO READ: 'They should be embarrassed': Mpofu slams charges as disciplinary hearing postponed Referring to the history of the matter, Judge Tlhotlhalemaje said the disciplinary hearing had been stalled several times with Madonsela's legal representatives demanding to see further documents, and then a claim that she was sick. Her legal representatives then told the LPC that she had evidence that implicated other employees involved in the scheme. The LPC said if she provided credible information, not already within the LPC's possession or knowledge, the disciplinary hearing would still proceed against her but should she be found guilty, the LPC would ask for a lesser sanction than dismissal. Judge Tlhotlhalemaje said it was not disputed that even though Madonsela had been suspended, she had been granted access to her office and her computer and emails to print the information she had promised. However, according to the LPC, this information was of no value to its investigation and Madonsela was informed that the hearing would proceed in early April 2025. In response, Madonsela's legal representatives then cast aspersions on the impartiality of the chairperson and said the hearing should be permanently stayed. When the LPC refused this request, she launched the urgent application in the labour court. Judge Tlhotlhalemaje agreed with the LPC that the urgency was self-created and she had only approached the court 'when the penny dropped' that the disciplinary hearing was going to proceed. He said in light of this, he could strike the matter off the roll. However, he felt compelled to 'dispose of it finally', to prevent it being re-enrolled on the ordinary roll, unnecessarily. He said an 'extremely high threshold' had been set for a court's intervention in ongoing disciplinary hearings. Read the judgment here. 'The rationale behind this stringent approach is that the court should respect employers' prerogative to institute disciplinary proceedings and should be wary of unwarranted intrusion. 'It has been repeatedly stated that this court should not be regarded as the first port of call and the court must equally guard against the abuse of its own processes by employees whose primary objectives are not noble but merely intended to frustrate internal disciplinary processes in order to escape from having to answer to allegations of serious misconduct,' Judge Tlhotlhalemaje said. He said the grounds raised by Madonsela were not exceptional and were 'utter red herrings'. ALSO READ: More than 100 legal practitioners struck off the roll He said the suggestion that the LPC was in breach of a settlement agreement was 'ludicrous'. The LPC director had refused to sanction the agreement because the information Madonsela had provided was of no value. 'The idea that there was an intention to terminate the disciplinary hearing is a figment of (Madonsela's) imagination. The proceedings were merely suspended.' Judge Tlhotlhalemaje said Madonsela did not have a right not to be subjected to an internal disciplinary hearing, especially given the gravity of the allegations against her and the implications, to the extent that the charges are proven, for the integrity and reputation of the LPC and the legal profession. Regarding the issue of costs, the judge said while Madonsela claimed to be 'a simple administrator', she had been legally assisted from the start by a team including a senior counsel, which pointed to the fact that she could afford to pay costs. 'The fact remains that this application, which was brought on an extremely urgent basis, was ill-considered and misconceived, causing the LPC costs and inconvenience,' he said, dismissing the urgent application with costs. This article was republished from GroundUp under a Creative Commons license. Read the original article here. NOW READ: Police can't say why they let an alleged rapist off the hook
