Latest news with #R12
The South African
2 days ago
- Sport
- The South African
Kaizer Chiefs: Four players sold abroad in four years
Since 2022, Kaizer Chiefs have sold Njabulo Blom to St Louis, Siyabonga Ngezana to FCSB, Thatayaone Ditlhokwe to Al-Ittihad and Yusuf Maart to SV Ried. ADVERTISEMENT This impressive influx of cash helped Kaizer Chiefs balance its books and sign new players such as Rushwin Dortley, Inacio Miguel and Glody Lilepo. According to Transfermarkt, the leading global source for player market values, the deals have generated around R70 million for the club known as Amakhosi. KAIZER CHIEFS PLAYER SALES IN FOUR YEARS Striker's father reveals what Amakhosi asked him Njabulo Blom – St. Louis City SC (USA) – €300,000 (± R6 million) Since 2022, the first sale was the homegrown talent Njabulo Blom, aged 23, who was transferred to St. Louis City SC in Major League Soccer for an estimated €300,000, equating to about R6 million. ADVERTISEMENT French-based star waiting for Kaizer Chiefs bosses 2. Siyabonga Ngezana – FCSB (Romania) – €600,000 (± R12 million) In July 2023, Siyabonga Ngezana was transferred to Romanian Liga I side FCSB (formerly Steaua Bucharest) for an estimated €600,000, or around R12 million. A solid defender and academy product, his sale marked the club's strategic move to develop and sell talent at peak value. 3. Thatayaone Ditlhokwe – Al-Ittihad (Libya) – €810,000 (± R16.2 million) ADVERTISEMENT Botswana international Thatayaone Ditlhokwe was sold in 2023 to Libyan giants Al-Ittihad for an estimated €810,000 (around R16.2 million). His departure added another profitable sale, despite limited impact at Kaizer Chiefs. 4. YUSUF MAART – SV RIED (AUSTRIA) – €1,000,000 (± R20 MILLION) The biggest of the lot was just a week ago. Yusuf Maart joined Austrian Bundesliga side SV Ried for an estimated €1,000,000 (approximately R20 million). His move was both a financial win and a significant loss on the pitch. However, Kaizer Chiefs are rumoured to be close to signing Feisal Salum from Azam FC, with the funds, possibly one or two more players. WHAT DO YOU THINK OF THE CLUB'S TRANSFERS SO FAR THIS WINTER? Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 ADVERTISEMENT Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news. ADVERTISEMENT
TimesLIVE
3 days ago
- Politics
- TimesLIVE
Thembisa residents protest against new electricity tariff surcharge
Residents of Thembisa in Ekurhuleni took to the streets to protest on Sunday night and Monday morning, complaining they cannot afford the latest electricity tariff surcharge. Several major routes in Thembisa were blocked off with stones and burning tyres. The new electricity tariff surcharge of R126 a month was implemented from the beginning of July. WATCH | Protestors in Tembisa block the mayor's convoy as he prepares to address them regarding increased electricity tariffs in the area. Video: @Muchave1Muchave — Sowetan LIVE (@SowetanLIVE) July 21, 2025 Mithe Mokgotadi, 55, who said he has lived in Thembisa his whole life, told Sowetan: 'In May I was billed R12,000 and this month I've been billed R3,000. That is for everything, from rates to water. And on top of that, I still need to make payment for electricity. 'Paying R250 gets you at least 64 units, but that is not enough. It can last you three days at most, and so I have to keep buying electricity. 'I live in a house where there is more than five of us and I don't have a job. I only sell apples and some vegetables from home to make do with what I have. But it's not enough, because in a month I spend at least R3,000 on electricity — and now they want to make matters worse by increasing the tariff. 'At this point they want us to turn to crime and making illegal connections because we are really struggling — but they don't see that. They are mugging us of the little we have.' WATCH | Tembisa resident Josephina Siboni (62) says she does not understand the newly introduced tariffs and what they mean. She says when buying electricity, the units do not reflect accordingly. Video: @Koena_xM — Sowetan LIVE (@SowetanLIVE) July 21, 2025 Another resident, Enos Mohlari, 60, said he applied to fall into the indigent category in April and is baffled why he has been billed. 'Just a few days ago, I received a statement saying that I owed the municipality more than R3,000 — I am being forced to pay,' he said. 'My hands are tied because I don't have the money to pay these bills. I don't work at all, but they're billing me amounts that I don't have in my account. And now they want us to pay more for electricity. It's not fair, the units we get barely get us by.'
The South African
4 days ago
- Business
- The South African
Kaizer Chiefs make R70 Million in player sales?
Since 2022, Kaizer Chiefs have sold Njabulo Blom to St Louis, Siyabonga Ngezana to FCSB, Thatayaone Ditlhokwe to Al-Ittihad and Yusuf Maart to SV Ried. This impressive influx of cash helped Kaizer Chiefs balance its books and sign new players such as Rushwin Dortley, Miguel Inacio and Glodi Lilepo. According to Transfermarkt , the leading global source for player market values, the deals have generated around R70 million for the club known as Amakhosi. Also Read: Yusuf Maart makes money for Amakhosi Njabulo Blom's announcement by St Louis from Kaizer Chiefs in December 2022. Image: St Louis Since 2022, the first sale was the homegrown talent Njabulo Blom, aged 23, who was transferred to St. Louis City SC in Major League Soccer for an estimated €300,000, equating to about R6 million. Big story: Orlando Pirates signed a new team (11 players) In July 2023, Siyabonga Ngezana was transferred to Romanian Liga I side FCSB (formerly Steaua Bucharest) for an estimated €600,000, or around R12 million. A solid defender and academy product, his sale marked the club's strategic move to develop and sell talent at peak value. Botswana international Thatayaone Ditlhokwe was sold in 2023 to Libyan giants Al-Ittihad for an estimated €810,000 (around R16.2 million). His departure added another profitable sale, despite limited impact at Kaizer Chiefs. The biggest of the lot was just a week ago. Yusuf Maart joined Austrian Bundesliga side SV Ried for an estimated €1,000,000 (approximately R20 million). His move was both a financial win and a significant loss on the pitch. However, Kaizer Chiefs are rumoured to be close to signing Feisal Salum from Azam FC, with the funds, possibly one or two more players. 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 Citizen
5 days ago
- Business
- The Citizen
Two-pot retirement system: warning about long-term consequences
Is your emergency big enough to make it necessary to withdraw some of your retirement savings under the two-pot retirement system? While consumers are smiling now as they are able to use the money from the savings pot under the two-pot retirement system, experts are sounding the alarm that annual withdrawals could leave pension fund members very poor in retirement. John Manyike, head of financial education at Old Mutual, points out that the number of South Africans who can retire with adequate pension has been at a staggering 6% and therefore people who withdraw funds under the two-pot retirement system are expected to be very poor when they retire. He was speaking at the company's mid-year economic outlook presentation. 'Since the inception of the two-pot retirement system, Old Mutual saw withdrawals of a total of almost R4 billion, with fund members receiving about R2.8 billion, with withdrawals averaging R12 2000 per member. 'People are not using their withdrawals from the savings pot of the two-pot retirement system to buy cars. Most of them will tell you they are withdrawing funds to pay debts. However, if you look at reports from the banks I do not think it will confirm that people are paying off their debts.' ALSO READ: Two-pot retirement system: Almost 4 million withdrawals close to R57 billion The profile of most who withdraw under the two-pot retirement system According to Manyike, most members who withdraw under the two-pot retirement system are between the ages of 31 and 40, with the highest numbers between the ages of 36 and 40. He finds it worrying that people at their prime age are withdrawing from their retirement funds. The majority of people making withdrawals falls earn between R5 000 to R10 000 per month and Manyike says this show that more vulnerable people who may be struggling to make ends meet who are dipping into their retirement savings. 'We hope they use this money for emergencies, as it was intended for.' Michelle Acton, chief customer officer at Old Mutual Corporate recently pointed out that Old Mutual Corporate's 2025 Member Two-Pot Withdrawal Survey showed that 45% of retirement fund members who accessed their savings under the two-pot retirement system did so to service debt. Another 35% used the funds to cover everyday expenses such as groceries, school fees and rent, while more than 70% said they would withdraw again. The tax implications would keep them from withdrawing again and not concerns to preserve their retirement savings for retirement. 'We also noticed a significant increase in savings pot claims at the start of the new tax year, despite only small amounts being available. Of the 413 000 savings pot claims submitted since the two-pot retirement system's inception, 93 000 or roughly 23% were made in the new tax year alone, from 1 March 2025 onwards. 'This confirms the earlier finding: employees will withdraw again if they can, due to financial stress.' ALSO READ: Two-pot retirement system: 75% of second year withdrawals are repeats Use of two-pot retirement system raises questions about financial literacy Acton says that for some pension fund members, this raises questions about financial literacy, although that perspective risks overlooking another issue. 'Employees are not irrational — many are simply financially overwhelmed. They are not failing to plan but struggling to survive.' She points out that the introduction of the two-pot retirement system shifted how employees interact with their retirement savings. 'This creates challenges as well as opportunities for businesses. As employees adjust to the new system, business leaders must step up to support their workforce in balancing short-term financial needs with long-term security.' As early trends under the two-pot retirement system begin to emerge, employers must reckon with a difficult reality: current financial wellbeing strategies may need to be rethought to truly support their employees' financial security, Acton says. 'While workers are engaging with their retirement savings, they do so under financial pressure and often without the support they need to make sustainable long-term decisions.' ALSO READ: Two-pot retirement system: withdrawals not being used for emergencies High withdrawal does not mean failure of two-pot retirement system Acton says it is easy to interpret high withdrawal rates as a failure of the two-pot retirement system or a lack of engagement with the reform. However, she says, this overlooks the core intent of the policy. 'One of its most important features is that members can no longer cash out their full retirement benefit when changing jobs which was historically the biggest destroyer of retirement outcomes in South Africa. 'Old Mutual's own modelling shows that the system improves long-term outcomes, particularly by closing this critical preservation gap. 'But it also shows a more sobering truth: many South Africans simply do not earn enough to save and preserve simultaneously. No amount of financial education can change that without acknowledging it first.' She says the Remchannel April 2025 Salary and Wage Survey clearly illustrates this income strain. 'Despite the inflation rate easing to approximately 3% and average salary increases surpassing this rate at 5.82%, employees continue to experience financial pressures due to rising living costs, particularly for essential goods and services. 'For many households, the salary increases provided are insufficient to absorb the escalating living expenses or reduce debt, let alone support long-term savings. People are making tough choices, not careless ones.' ALSO READ: Two-pot retirement system: rather find an alternative than dip into the savings pot Surge of interest at start of two-pot retirement system The initial rollout of the two-pot retirement system sparked a surge in interest, revealing just how little many employees knew about their retirement benefits. The traction on social media, from TikTok discussions to cheeky brand mentions by the likes of Nando's, shows that retirement savings are no longer seen as a distant or abstract concern but are entering everyday conversations. Acton says the big question now is: how do we use this momentum to benefit employees and ensure they make informed, long-term financial decisions? 'A key challenge for businesses is that meaningful workplace discussions about retirement planning are still too rare. 'Despite growing attention on financial wellbeing, the topic remains sidelined in many organisations, often clouded by jargon, distrust, or lack of visibility.' She says a critical insight from these internal conversations is that while retirement funding was once largely seen as the employer's responsibility, today's employees are expected to plan for their futures on their own, a shift that can leave many employees feeling ill-equipped and unsure of how to manage their financial future. 'Another key observation is that financial education often fails because the information provided can feel disconnected from employees' real-life circumstances. 'For financial education to be effective, it must resonate with employees on a personal level, considering their individual financial realities, challenges, and needs.'
The South African
6 days ago
- Sport
- The South African
How much Orlando Pirates paid for Oswin Appollis
Orlando Pirates have made a number of signings this off-season but none bigger than the acquisition of Oswin Appollis. In fact, the Buccaneers pulled off arguably the biggest move of the window so far when they landed the Bafana Bafana star. Appollis was long linked with a move to one of the country's biggest teams, with Orlando Pirates coming up trumps in the race to sign him! READ MORE • R20 million Mamelodi Sundowns star wanted by Siwelele FC! READ MORE • Shocker: Flavio Silva's Kaizer Chiefs salary revealed! Oswin Appollis has been a star performer for both Polokwane City and Bafana Bafana over the past two years. The speedy winger's market price sits in excess of R18 million according to Transfermarkt. But just how much did Orlando Pirates pay to sign him? According to KickOff, the Buccaneers scored somewhat of a bargain! The publication claim Polokwane City originally set their asking price at around R20 million for their star man. Despite receiving offers from North Africa for R15 million, Orlando Pirates landed Appollis for a deal worth approximately just R12 million! 'Though the 23-year-old's valuation has been placed at R20 million over the past year, it has been established that he moved to Pirates for 60% of that amount. This places the transfer fee in the region of R12 million,' a KickOff report read. The publication further claimed that Kaizer Chiefs' offer of R10 million for Appollis was rejected last year. READ MORE • Orlando Pirates cut ties with fan-favourite worth R14.5 million! In the South African context R12 million may seem like a high figure for a local player. However based on the quality of Appollis, do you believe Orlando Pirates scored a massive bargain? Let us know by clicking on the comment tab below this article or by emailing info@ or sending a WhatsApp to 060 011 021 1. You can also follow @ TheSAnews on X and The South African on Facebook for the latest news.
