Latest news with #R2.8bn
IOL News
19-07-2025
- Politics
- IOL News
Criticism mounts as minister neglects fishing communities
Deputy Minister Narend Singh defended the Department's plans, including R2.8bn for ecosystem restoration and 70 000 new work opportunities, but the legislators slammed the lack of tangible progress for struggling coastal communities. Image: File/Independent Newspapers THE Department of Forestry, Fisheries, and the Environment (DFFE) was subjected to sharp criticism from Parliament's National Council of Provinces (NCOP) over its handling of small-scale fisheries, inadequate ocean patrols, and delays in issuing fishing permits — even as it unveiled a R9 billion budget aimed at climate resilience and job creation. Deputy Minister Narend Singh defended the Department's plans, including R2.8bn for ecosystem restoration and 70 000 new work opportunities, but the legislators slammed the lack of tangible progress for struggling coastal communities. The Department's flagship 'Fishing for Freedom' programme, designed to empower small-scale fishers, came under fire after MPs accused officials of sidelining Parliament and failing to address grievances in Saldanha Bay. 'The Committee visited small-scale fisheries in Saldanha Bay to hear their concerns, but the Department went there without informing us,' the PA's Bino Farmer said. 'These fishers can't live and fish sustainably because they don't have rights — they're forced into poaching. The system is biased toward big business.' Small-scale fishing cooperatives, a critical lifeline for coastal towns, remain in limbo. While the DFFE pledged support for 15 cooperatives this year (out of a five-year target of 50), MPs highlighted bureaucratic delays. The MK Party's Seeng Mokoena demanded answers: 'Why are KZN fishers waiting endlessly for permits while infrastructure crumbles?' Video Player is loading. 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Advertisement Next Stay Close ✕ Ad loading The legislators blasted the Department's target of just four patrols in South Africa's Exclusive Economic Zone (EEZ) this year, warning it leaves the country vulnerable to illegal fishing by foreign vessels. 'Four patrols? That's a joke,' asked the DA's Nicolaas Pienaar. 'Chinese trawlers are pillaging our waters, and budget constraints aren't an excuse.' The Department's own data shows a five-year goal of 20 patrols, but with only four planned for 2025/26, critics say enforcement is critically underfunded. Despite the DFFE's pledge to create nearly 70 000 jobs through environmental programmes, MPs questioned the feasibility. 'How many jobs have actually been created so far?' wondered the DA's Sonja Boshoff, referencing the Department's 2030 target of 1 million jobs. A R100 million youth graduate programme aims to place 4 000 young people in environmental roles, but the FF+'s Hendrik Van den Berg remained sceptical: 'Are these just temporary EPWP jobs, or real, sustainable employment?' The Department's Climate Change Act implementation faces funding shortfalls, while reliance on international donors raises concerns. Deputy Minister Singh admitted: 'Funding is a challenge,' but highlighted expected support from Germany, Italy, and the Global Environment Facility after the US withdrawal. However, the EFF's Meisie Kennedy warned: 'Most municipalities can't manage waste. What's the plan to stop hazardous pollution?' The Department's own targets include 29 municipal clean-up campaigns and 54 000 tons of waste tires processed, but oversight remains weak. Meanwhile, plans to add 100 000 hectares to conservation estates and publish an Elephant Conservation Strategy were met with cautious optimism. In response, Deputy Minister Singh acknowledged frustrations but blamed scheduling conflicts for poor communication with Parliament. 'We'll engage directly with Saldanha Bay's fishers,' he said, adding that recruiting youth into cooperatives was a priority. On climate funding, he confirmed R45 million was allocated for G20 meetings, crucial for securing international investment. 'The people we meet at the G20 are the movers and shakers,' he said. With a clean audit but mounting scrutiny, the DFFE's five-year plan hinges on execution. As Farmer said: 'Officials are the problem.' For now, South Africa's oceans, fisheries, and environmental future hang in the balance, caught between bold promises and the harsh reality of implementation failures. Get the real story on the go: Follow the Sunday Independent on WhatsApp.
IOL News
24-06-2025
- Sport
- IOL News
Liverpool's record transfer of Florian Wirtz a game-changer for rival clubs
German midfielder Florian Wirtz has completed a record move to Liverpool in the Premier League. Image: Franck Fife/AFP Liverpool's record £116 million (about R2.8bn) Florian Wirtz transfer should be worrying to fans of rival clubs, not just because of the massive figure involved but the decisiveness with which they have moved in the transfer window. The arrival of the German international midfielder from Bayer Leverkusen was preceded by the £29m (R704m) signing of his former Leverkusen teammate Jeremie Frimpong as a potential replacement for right-back Trent Alexander-Arnold. Bournemouth's attacking left-back Milos Kerkez is also expected to arrive at Anfield shortly in a £40m deal. His pending arrival is likely to signal the end of an illustrious Reds career for Andy Robertson, with speculation rife of an Atletico Madrid move for the stalwart defender. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Rumours of another blockbuster move for Newcastle's lethal striker Alexander Isak are not going away either. He is seen as a potential replacement for flop Darwin Nunez, who is apparently the subject of interest from Napoli. However, the Magpies are in a strong position after qualifying for the Uefa Champions League, and would demand an eye-watering sum for their prized possession. But the champions seem far from done with their transfer business. The coming exit of defender Jarell Quansah has seen them linked with England and Crystal Palace centre-back Marc Guehi. Should they land the defensive lynchpin, it would be the icing on the cake, even without any further striker additions. While Liverpool are clearly enjoying the fruits of a title-winning campaign, with Wirtz insisting that they were his only choice, they are also profiting from a clear vision for the club. This contrasts sharply with some of their rivals who will be gunning for their crown next season. Arsenal, for example, have been linked with a striker to fill an obvious void at the club for some time, yet they seem no closer to landing one despite persistent rumours. Benjamin Sesko and Viktor Gyokeres are some of the high-profile names most often mentioned. If there any concerns about the price tags scaring them off, remember that this is the same Arsenal team that spent over £100m on Declan Rice. The imminent arrival of another defensive midfielder, Martin Zubimendi, also calls into question their decision-making. There is still plenty time in the transfer window to rectify their troubles in front of goal, but Mikel Arteta's obsession with signing defensive midfielders borders on the bizarre. Former big spenders Manchester City may be keeping some their powder dry while they concentrate on the Fifa Club World Cup. Arne Slot will get the chance to further imprint his style on Liverpool next season after leading the club to a 20th elite division title. Image: AFP Tijjani Reijnders built up a solid reputation at AC Milan, while Ryan Ait Nori did the same at Wolves before joining Pep Guardiola's team alongside Rayan Cherki of Lyon. Yet they are hardly names that will have rival fans trembling. City they seem to have lost the pulling power of the past few seasons. They were also said to be keen on Wirtz, one of the most exciting attacking talents in Europe right now, until he made his intentions clear. Chelsea's new arrivals include Ipswich striker Liam Delap and Palmeiras winger Estevao Willian. Yet, Blues fans may be hoping that this signals a move away from the shotgun approach of previous transfer windows to a more focused one if they are to challenge for the title.
TimesLIVE
17-06-2025
- Business
- TimesLIVE
These are areas where Joburg roads agency will spend its budget
The Johannesburg Roads Agency (JRA) on Tuesday spelt out where it intends spending a capital injection of R2.8bn over the next three financial years, kicking off with R912.8m for this financial year. 'Every rand allocated will be used efficiently and effectively to make a tangible difference in the lives of Johannesburg residents and road users,' JRA CEO Zweli Nyathi pledged. Key projects include: Upgrading high-traffic corridors that link townships to major economic centres to ease congestion and enhance connectivity. The citywide resurfacing programme spans roads linking Kliptown to Eldorado Park, Lord Khanyisile Road, London Road in Alexandra, the M1 and M2 and the Soweto highway. In the 2025/2026 financial year, R189m will be invested in stormwater expansion in vulnerable areas such as Orange Farm, Ivory Park, Braamfischerville, Protea Glen and Kliptown to enhance flood mitigation. This encompasses the conversion of open drains to underground channels, the rehabilitation of open channels, emergency stormwater repairs and the development of new stormwater catchments. Ensuring the structural integrity of bridges and culverts. The city has allocated R152m for bridge rehabilitation in the 2025/2026 period in areas including Sjampanje Street bridge, Elias Motsoaledi bridge, Moroka Nancefield Road bridge, FNB Stadium bridge, Lenasia bridge and the New Naledi bridge. Upgrading traffic signal infrastructure at a cost of R60m for the 2025/2026 period. Priority areas are Winnie Mandela Drive, Hendrik Potgieter Road, Malibongwe Drive, Chris Hani Road, Main Road, Ontdekkers Road, Mooki Road and the Soweto highway. The upgrading of gravel roads to surfaced standards will continue in previously underserved areas including Kaalfontein, Orange Farm, Tshepisong, Diepsloot and Mayibuye.
IOL News
10-06-2025
- Business
- IOL News
Market cheers as Telkom rings in robust results
Telkom store at N1 City in Goodwood, Cape Town. Image: Ian Landsberg/Independent Newspapers The market on Tuesday cheered as Telkom rang in robust results for the year ended 31 March and resumed its dividend, which saw its share surge 7%. In morning trade the share was up 7.35% at R42.95 on the JSE. Telkom said mobile subscribers were up 13.4% to 23.2 million. Serame Taukobong, Telkom Group CEO said, 'The company has largely modernised its technology infrastructure and executed on a robust, detailed strategy across its operations. The financial results for FY2025 confirm that the business has not only stabilised but has built a platform for accelerated growth." In key financial metrics, adjusted headline earnings per share rose 102.4% to 583.2 cents; while adjusted basic earnings per share were up 128.9% to 681.7 cents. Ebitda was up 25.1% to R11.8 billion; while revenue rose 3.3% to R43.9bn; with free cash flow up 555.2% to R2.8bn. Taukobong said Telkom's differentiated strategy over the past year centred on three key pillars: The first pillar was sales engine optimisation. "We engineered our sales engine to prioritise efficiency, streamlining regional teams into agile, data-driven units and investing in digital tools to empower frontline teams." The second pillar was network excellence. "We prioritised strategic investments in our infrastructure, expanding fibre and 4G/5G coverage to underserved areas while enhancing urban network performance." The final pillar was customer-centric value. "We continued disrupting the market by expanding our flexible, affordable plans tailored to diverse segments, from data-centric bundles for cost-conscious users to seamless connectivity solutions for small, medium and large enterprises. We supported these with transparent pricing and proactive service," he said. Taukobong said in a significant milestone, Telkom had successfully concluded the disposal of Swiftnet, the masts and towers business to the consortium led by Actis and Royal Bafokeng Holdings with a total cash consideration of R6. 618bn received on March 27. "We are strategically dedicating R4 750 million of the proceeds post year end to strengthen our balance sheet. This deliberate move is aimed at fortifying the balance sheet for future growth, fuelling innovation, and ensuring we maintain a competitive edge in a dynamic market. The remaining proceeds are earmarked for profit-enhancing capital investments as well as a special distribution to shareholders," he said. Serame Taukobong, Telkom Group CEO. Image: Supplied The group reinstated its dividend, saying it will return a total dividend of R1.3bn, which includes an ordinary cash dividend of R833 million (163 cents per share) and a special dividend of R500 million (98 cents per share) from the completed disposal of the Swiftnet masts and towers business, resulting in 261 cents per share being returned to Telkom shareholders. Across its various segments, Telkom reported notable growth. Telkom Consumer saw a 10.2% increase in mobile service revenue, supported by a 19.5% rise in its mobile data subscriber base, which reached 15.2 million. Openserve recorded a 5.9% increase in fibre-related data revenue and achieved a market-leading fibre-to-the-home connectivity rate of 50.4%. BCX posted a 12.7% increase in fibre-related data revenue, along with a 5.8% growth in cloud services revenue. Gyro, Telkom's standalone infrastructure subsidiary, contributed to improved liquidity by realising total cash proceeds of R730 million from the transfer of 57 properties. Looking ahead, Telkom said its medium-term roadmap leverages its current momentum as it sets "ambitious yet achievable objectives for the next three years". Maintaining a strong balance sheet remains a top priority; a focus on efficiency as well as monetising infrastructure assets and improving medium- to long-term returns. "Essential to achieving these financial targets is continued stability in South Africa, a growing economy supported by a macro-economic environment that does not deteriorate from current levels, and a stabilised energy supply. While their impact is not yet visible, recently escalated global tensions and emerging trade wars could limit South Africa's economic growth, " Telkom said. BUSINESS REPORT Visit:
IOL News
26-05-2025
- Business
- IOL News
Life Healthcare Group reports 10. 5% rise in interim divided and plans expansion
Life Healthcare Group, which reported strong operational results for the six months to March 31, 2025 from its network of private hospitals and other healthcare facilities, said the disposal of its Life Molecular Imaging business was expected to be finalised in the second half. Image: Supplied Life Healthcare Group lifted its interim dividend by 10.5% to 21 cents a share in the six months to March 31, and it intends to continue growing its underlying asset base significantly in Southern Africa during the second half. The group, which operates 64 healthcare facilities across South Africa and Botswana, plans to add 58 acute hospital beds and 24 acute rehabilitation beds, and it will start building the new 140-bed Life Paarl Valley Hospital in the Western Cape. A new cath-lab and a new vascular lab will also be added to the acute business, as stated by CEO Peter Wharton-Hood in the results statement. The group will continue to grow its diagnostics business, with further transactions expected to be completed in the second half, as well as the addition of two new PET-CT sites. 'The southern African business will look to drive occupancies to 70%, with paid patient days (PPD) growth expected to be 1.5%. The southern African business will continue to optimise its asset portfolio and focus on operational efficiencies,' he said. Capital expenditure for the 2025 year is expected to be R2.3 billion. The R13.9bn Life Molecular Imaging (LMI) disposal to Lantheus Holdings is also expected to close in the second half. In the six-month period under review, there has been robust activity growth, with paid patient days (PPDs) up by 2% and occupancy at 68.6%. Revenue from continuing operations increased by 8.1% to R12.1bn. Normalised earnings per share increased by 9.1% to 49 cents. Earnings per share (continuing and discontinued operations) decreased to negative 155.2 cents from 242.8 positive cents in the first half of 2024, mainly due to the R2.8bn one-off gain in the first half of 2024 following the completion of the Alliance Medical Group disposal, and a R2.9bn fair value loss on the Piramal contingent consideration in the first half of 2025. The group remains in a strong financial position. As of March 31, 2025, net debt to normalised EBITDA (earnings before interest, tax, depreciation, and amortisation) of 0.65 times is well within the covenant of 3.5 times. Cash from continuing operations was R2bn and represented 105.3% of normalised EBITDA from continuing operations. The strong operating performance for the six-month period, with revenue up by 8.1%, was driven by 'robust activity growth,' benefits from acquisitions concluded in the second half of 2024, and a tariff increase. The acute hospitals delivered strong revenue growth in the period, with PPDs growing by 2% on a like-for-like basis. This translated into a higher occupancy of 68.3% compared to 66.2% in the prior period. The acute hospitals had a strong second quarter, with occupancies over 71%, benefiting from the timing of the Easter and school holidays. Visit:
