Latest news with #TurnaroundStrategy
IOL News
6 days ago
- Business
- IOL News
eThekwini councillors approve new waste management strategy
eThekwini councillors approved the Cleansing and Solid Waste (CSW) Turnaround Strategy on Monday. This strategy is expected to be robust in waste collection in the municipality. Image: Bongani Mbatha/African News Agency (ANA) eThekwini councillors approved the Cleansing and Solid Waste (CSW) Turnaround Strategy on Monday. The strategy has been developed in alignment with National Treasury's Metro Trading Services Reform Framework (MTSRF). The waste management directorate will change from a traditional unit to a CSW business directorate with a single point of accountability. This will enable the executive director of the Waste Management Directorate to have the necessary responsibility and authority to improve its services and to be held accountable in this regard. As per the requirements by National Treasury, the strategy document is coupled with the Cleansing and Solid Waste Directorate's Institutional and Governance Roadmap and the Business and Investments Plan to improve all aspects of the solid waste business. According to the report, the institutional reforms focus on improved management and governance, while the Business and Investment Plan focuses on the Waste Business Development Plan. The Directorate is also required to develop a Performance Improvement Action Plan which is due in April 2026. The plan represents a critical opportunity not just to clean up the city, but to restore the dignity of service delivery that residents so rightly deserve, said Hlengiwe Shozi, DA Councillor at the council meeting. 'For far too long, eThekwini's waste management system has failed its people with broken promises, irregular collections, and communities forced to live among illegal dumping and overflowing bins. If this plan is to succeed, it must go beyond paper. It must be backed by action, urgency, and accountability,' she said. Shozi said although recycling is mentioned in the strategy, there are no clear timelines or measurable targets and she urged DSW to prioritise this to reduce the burden on landfill sites. 'Recycling is not only good for the planet — it's an economic opportunity. Let's stop treating it like an afterthought,' Shozi added. She also suggested that the poor quality of refuse bags being distributed be looked into. Patrick Pillay, leader of the Democratic Liberal Congress (DLC), said the monitoring and implementation of this strategy lies with the eThekwini committees. Pillay urged councillors in the committees to be proactive to ensure the strategy is a success story. 'Despite all the fancy words used to describe the strategy our residents need service delivery. They want to live in a clean environment,' he said. Sunitha Maharaj, Minority Front councillor, said that one of the biggest challenges for CSW has always been service delivery protests. 'What we do not support is any move to impose tariff increases on the public to keep the unit financially viable. We say this because of the lack of accountability and transparency by the municipality previously in terms of reporting progress challenges and corrective measures,' she said. Maharaj was concerned about the municipality having the capacity or if there is a political will to realise the reform goals. She said the Supply Chain Management must be held accountable for delays and must ensure that contract management is strengthened on awarded contracts to the most responsive tenderer. Nkosenhle Madlala, ANC eThekwini councillor, said waste management in the city has gone through some serious challenges including the mushrooming of informal settlements overnight that were not budgeted for in CSW. He said the strategy gives the municipality a chance to turn things around and restore confidence in local government. 'Let us commend the turnaround we have seen in terms of the cleanliness of our streets. We moved a long way from where we were to where we are now in terms of the cleanliness of our city but we are not masking any challenges. A lot still needs to be done and we are happy this strategy is here,' he said. Henricus van der Ryst, Freedom Front Plus councillor, said that National Treasury should look at informing people about waste management at grassroot level such as primary schools. He was concerned about the funding burden placed only on some paying residents. Saneli Zuma, ActionSA councillor, said there was a culture of negligence from both residents and businesses who continue to discard waste irresponsibly, as well as illegal dumping in and around township areas. 'Let us not allow this to become yet another strategy adopted in council that never sees the light of day," she said. [email protected]
IOL News
15-07-2025
- Business
- IOL News
Political parties debate eThekwini's R1. 75 billion waste management strategy
eThekwini Municipality proposed R1.75 billion turnaround strategy for the Cleansing and Solid Waste unit, is aimed at addressing financial deficits and improving service delivery. Image: FILE Political parties in the eThekwini Municipality had mixed views on the Cleansing and Solid Waste (CSW) unit Turnaround Strategy, on Tuesday. The CSW unit updated the eThekwini Municipality Executive Committee (EXCO) on its strategy which is expected to cost approximately R1.75 billion over 10 years, with funding mobilised through reprioritisation, cost optimisation, and leveraging national reform-linked grants. The CSW reported that mounting financial deficits, declining infrastructure reliability, and growing service delivery backlogs have rendered the current solid waste business model unsustainable. The municipality stated that the turnaround strategy for the CSW was developed in alignment with the National Treasury's Metro Trading Services Reform (MTSR) framework. The deadline for the submission is 31 July 2025 with a special council meeting scheduled for Monday. The strategy identifies a clear trajectory for reform under the three-phase national model: stabilise, recover, and transform. The municipality has found that the current waste service value chain is highly linear, with over 98% of waste landfilled and minimal diversion. 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. 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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. Next Stay Close ✕ According to the municipality, the strategy introduces seven strategic focus areas (SFAs), each aligned with specific goals and causes of underperformance. One of them is the Single Point of Accountability (SPoMA) which will establish a dedicated, ringfenced utility structure for CSW with clear leadership and delegated authority. Councillor Nkosenhle Madlala, ANC Exco member, stated that the ANC caucus supported the strategy including the institutional and governance roadmap and the business and investment plan. 'We recognise that this strategy is a key step towards transforming the unit into a more efficient, financially sustainable, and environmentally responsible service – all under clear and accountable leadership,' he said. Madlala said that the ANC appreciates that the strategy aligns with the Treasury's MTSR, which aims to professionalise and strengthen municipal trading services. 'We note and support the development of the Performance Improvement Action Plan due in April 2026, which will help unlock much-needed funding through the Urban Settlements Development Grant. The ANC believes regular progress updates are essential. We support the decision to keep this matter as a standing item on the Committee's agenda to help address any gaps and monitor progress,' Madlala said. Madlala encouraged the CSW to continue working towards cleaner communities and improved service delivery. Andre Beetge, DA Exco member, said the DA supports the strategy that aligns with the prescriptive guidelines of National Treasury, by implication forcing compliance on the metro. 'We, however, remain in amused speculation on the political will to implement. This against the backdrop of recent Auditor General and Internal Audit reports, wherein the city's water and sanitation strategy was acknowledged, yet with implementation and outcome reporting being extremely vague and questionable,' Beetge said. He added that a strategy doesn't keep the streets clean, the gutters clear, the oceans uncontaminated, the landfills operational, or the compactors available. 'It is competent people willing to do what needs to be done without corruption, political interference or personal hindrance,' Beetge said.
Yahoo
10-07-2025
- Business
- Yahoo
Worksport Reports Q2 2025 Top-Line Revenue, Signals Profitability on Horizon with Expanding Margins and Product Momentum
Company Achieves Breakout Quarter as Turnaround Strategy Gains Traction; Clean-Tech Product Launches Poised to Accelerate Growth West Seneca, New York--(Newsfile Corp. - July 10, 2025) - Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, today announced unaudited Q2 2025 topline results, delivering a breakout quarter that is expected to position the Company for sustainable profitability and long-term growth. The Company delivered unaudited revenue of $4.1 million in Q2 2025, marking an 83% increase over Q1 2025 revenue of $2.24 results mark a major validation of the Company's strategic pivot away from lower-margin private label production, underscoring management's strategic focus on a strong Made in America brand with a robust supply chain substantially within the USA. In parallel, gross margins increased 47%, rising from 17.7% in Q1 to 26.0% in Q2. June 2025 recorded the Company's highest monthly gross margin to date, with Worksport on track to exceed 30% gross margins by year-end, setting the stage for strong operating leverage. Momentum Building Toward Strong EBITA "This quarter's topline and margin performance validates the steps we've taken over the last year," said Steven Rossi, CEO of Worksport. "We're executing on all cylinders - sales are scaling, margins are improving, and we're laying the groundwork for sustainable profitability. The real catalyst lies just ahead with the launch of our innovative SOLIS and COR nano-grid system." Flagship Product Launches to Unlock Additional Revenue Streams Worksport's upcoming SOLIS Solar Tonneau Cover and COR Portable Energy System—both in Beta testing in North America—are scheduled for commercial launch in late 2025. Together, these proprietary technologies will form a modular clean-energy nano-grid, targeting high margin multi-billion-dollar markets, ranging from portable power to overlanding, grid-resilient utility, and EV range top-up. As previously reported, Worksport's patented SOLIS cover successfully produced more than 500W of solar power, while the COR system demonstrated Level 1 EV charging capabilities, including for Tesla vehicles. Market response to early testing has been strong, with additional updates expected in the Company's Q3 2025 earnings call. Full Q2 Report and Earnings Call Coming Mid-August "As we turn the corner on our strategy for strong EBITA and profitability, we are seeing impressive alignment of the Company's fundamentals in a way that unlocks shareholder value," added Rossi. "With strong revenue growth, expanding margins, and disruptive new products launching in 2025, Worksport is emerging as one of the most exciting stories on the small-cap growth radar. The best is yet to come and just around the corner." The full Q2 2025 financial statements and earnings call are scheduled for mid-August. The Company also recently announced record production output and further traction in B2C and B2B sales, reinforcing its revenue trajectory. Management has previously projected $20M in full-year revenue, with a clear anticipated path to cash flow positivity. More information will be made available in the near future regarding the Company's COR Portable Energy System & SOLIS Solar Tonneau Cover commercial launches, including final release specifications, pricing, and go to market strategy, among other topics. For further information:Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128 W: W: E: investors@ Join: Worksport's Newsletter About Worksport Worksport Ltd. (NASDAQ: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport's hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology. Terravis Energy's website is Connect with Worksport Please follow the Company's social media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube, and Instagram (collectively, the "Accounts"), the links of which are links to external third-party websites, as well as sign up for the Company's newsletters at Social Media Disclaimer The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company. Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission (SEC") filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media. Forward-Looking Statements The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "scheduled," "expect," "future," "intend," "plan," "project," "envisioned," "should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial situation may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; and (iv) competition from other producers of similar products. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, including, without limitation, our latest Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
