Latest news with #R160m
IOL News
21-07-2025
- IOL News
Spotlight on streetlights remains as 12 000 repaired in June
In line with the energy efficiency strategy, the City is expanding its LED streetlight replacement programme with a R160m injection over the next three years. Over 31 days from May 26 to June 25, City energy teams fixed close to 12 000 streetlights from a total of 35 900 energy-related requests. 'Vandalism, theft and illegal connections across the metro continue to impact turnaround times as damaged infrastructure often needs to be entirely replaced, which could take many hours or even days in some cases," said mayco member for Energy, Xanthea Limberg "We have various interventions to reduce the risk of these crimes, but as always, we need the help of our residents to report suspicious activity of their neighbourhood power infrastructure.
TimesLIVE
26-06-2025
- Business
- TimesLIVE
Lucas Radebe says Danny Jordaan must leave Safa
The SA Football Association (Safa) will report a R5m deficit when it conducts its long-awaited ordinary congress this weekend, painting a picture of an organisation in dire financial straits. The constant reports of alleged financial and administrative disarray at Safa prompted legendary Bafana Bafana captain Lucas Radebe to say Danny Jordaan should step down as the association's president. According to the latest financial report, prepared by Safa financial committee chair Mxolisi Sibam, the main reasons for the challenging financial position are high bonuses paid to national teams and spiralling staff costs due to enormous salaries. As a result, Safa's 'liquidity remains tight' and this could lead to 'potential solvency risks'. 'The largest expenditure item was the R150m (or 40% of revenue) paid in performance bonuses to players and technical staff,' reads Sibam's report for the financial year ending June 2024. . However, Safa received R160m from the Confederation of African Football (Caf) and Fifa as participation fees for Bafana Bafana and Banyana Banyana in last year's Africa Cup of Nations and the 2023 Women's World Cup, respectively, taking its turnover to R386m, which was an increase from R239m in 2023. Sibam's report further states Safa pays high salaries to its staff but curiously remains silent on the bloated national executive committee, which Fifa recommended more than a decade ago it must be trimmed 'It is also important to note that salaries and remuneration within the association remain relatively high when benchmarked against other comparable national football associations. The finance committee has identified this as an area requiring review to ensure sustainability and efficiency,' reads the report. Safa will report a 17% increase in assets to R193m, but Sibam states that liabilities remain a problem. 'Total liabilities rose to R207m from R172m in 2023, while current liabilities increased to R197m.' [WATCH] Portfolio Committee on Sport, Arts and Culture's Liam Jacobs questions SAFA president Danny Jordan on whether he... Posted by Newzroom Afrika on Tuesday, June 3, 2025 Saturday's congress comes two weeks after Safa's leadership was grilled in parliament over allegations of misgovernance. At the weekend, Bafana legend Radebe said Jordaan, who has been in office since 2013, should not consider serving another term as the association's president. 'He shouldn't even be there at this stage, it's long overdue that he leaves,' the former Leeds United captain told Sowetan. 'He should give others a chance. I followed the conversation [when Safa reported to the sports portfolio committee in parliament this month] and it seems they [Safa] want to reason that they don't see anyone who can succeed him. It's all politics.' Radebe said that while South Africa was seeing great performances from national teams, such as the Under-20s, who recently lifted the junior African Cup of Nations for the first time, that energy was not matched by delivery in Safa's administration under Jordaan's leadership. 'We are performing on the field but are lacking in the office. We know exactly where change is needed,' he said.
The Citizen
04-05-2025
- Business
- The Citizen
Sibaya Precinct upgrade gets green light from council
A MULTI-MILLION rand upgrade of the Sibaya Coastal Precinct has been given the green light by the eThekwini Municipality council, following the unanimous decision on the proposal to unlock the next stage of development and road infrastructure upgrades estimated to be worth R160m. The endorsement of the ambitious mixed-use development project comes at a cost of R7.8m for eThekwini, which is subject to cost recovery from the KwaZulu-Natal Department of Transport. 'The developer has committed to funding R152m, equivalent to 95.1% of the total cost. The municipality will contribute R7.8m, which is 4.9%, subject to cost recovery from the KwaZulu-Natal Department of Transport,' said municipal spokesperson Gugu Sisilana. She said this funding will support the upgrade of critical slip lanes on the M27 and M4 routes. 'A Memorandum of Agreement between the City and the developer will formalise the terms. Councillors unanimously welcomed the proposal, highlighting the transformation it will bring to the northern development corridor,' said Sisilana. Also Read: City not bankrupt – eThekwini Municipality According to the City, the upgrade of the Sibaya Coastal Precinct will attract R11.3b in investment over three years, and R23b over eight years. The development includes residential, commercial, retail and hospitality components. 'The municipality also anticipates significant rates revenue, expected to increase from R219m in 2025 to R770m annually by 2032. The anticipated additional rates revenue from the development over the eight-year roll-out period is estimated at R3.8b,' said Sisilana. The project is expected to create an estimated 50 000 temporary construction jobs and 20 000 permanent jobs post-construction. 'Local businesses will benefit through subcontracts and skills development, offering training and learnerships for community members,' said Sisilana. 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!
