Banyana Banyana focuses priority on matches against top opponents in preparation for next year’s World Cup FIFA next year is even more useful after they received a very difficult draw for the performance Next year . Desiree Ellis’ troops will face Group G in the […]
SportsThe Democratic Union says it is urgently seeking answers from the national government on the state of South Africa’s fuel reserves following a crippling strike in Transnet this week. before. As the strike ended, the party said ports and transport networks had experienced major disruption […]
NewsThe Democratic Union says it is urgently seeking answers from the national government on the state of South Africa’s fuel reserves following a crippling strike in Transnet this week. before. As the strike ended, the party said ports and transport networks had experienced major disruption and fuel industry players warned the country was dangerously close to a supply crisis. fuel due to the lack of availability of refined fuel reserves.
Transnet workers returned to work on Friday, October 21, but the group warned it would take weeks to process the immediate backlog, with analysts predicting activity would not return to normal until early 2023.
South Africa is struggling with a fuel crisis even before the strike begins, with airports warning about jet fuel allocations and the power company Eskom have sounded the alarm about its ability to supply enough diesel for its generators.
Much of the country’s imported fuel goes through the port of Durban, which Kevin Baart, head of strategic and regulatory projects at the South African Petroleum Industry Association (Sapia), says is close to full capacity. , after several refineries closed. country and its growing reliance on imports.
He told News24 that pipeline networks would struggle to cope with increased imports, “jeopardizing fuel supplies to South Africa’s domestic economic hubs”.
Of the six refineries operating in 2019, South Africa has two, with the third, the Astron Energy refinery, expected to be operational by the end of the year.
The DA notes that South Africa has struggled with fuel supply problems for nearly two decades, with the last major crisis occurring in 2005.
Moerane’s Inquiry into the Crisis fuel incident in South Africa in November/December 2005, the ANC Government failed to implement its strategic recommendation on refined fuel reserves, putting the country at risk of severe fuel shortages. in the event of a severe disruption of the fuel supply chain,” he said.
The party said a 2006 committee found the country did not hold strategic stocks of refined products and recommended that the government review its policy on strategic fuel reserves.
“Through public/private partnerships, the committee recommends that oil companies and synthetic fuel plants be required to maintain commercially prudent levels of refined product inventories. regime. 16 years later, it’s still not done,” he said.
Disruption to refined liquid fuel supplies – due to inadequate port infrastructure, ongoing industrial activity and a shortage of refining capacity – will have far-reaching consequences for economy and social order, he said.
“The immediate impact will be supply chain disruptions, which will significantly limit the productivity of the economy. Consumers could face a food supply crisis as food wholesalers and distributors struggle to get food stocked to where they need it.
Diesel concerns
The freight industry in South Africa has warned of tightening operations due to growing demand for diesel at home and abroad, especially as countries Europe must turn to other fuel sources to welcome winter. .
Diesel prices are surging in Europe and the United States, triggering a fresh round of inflationary pressures ahead of a winter that is expected to see major supply disruptions, Bloomberg reported.
This is the biggest price increase in several months, heralding a winter where Europe in particular will face supply shocks as it tries to cut out fuels produced in Russia. Industrial consumers who substitute oil for natural gas – whose prices have skyrocketed since the start of the war in Ukraine – are also increasing demand.
“Rising diesel prices are likely to generate even stronger inflationary pressures, especially if current prices continue to spike, adding significant downside risks to demand and increasing the likelihood there is a global recession,” he announced.
Domestic diesel prices are expected to rise to R1.61 in November.
The Road Transport Association says the situation has worsened for many carriers, who are no longer can bear the additional costs.
“Diesel is the fuel used by most transport companies in South Africa; that’s the power that drives our supply chain,” said Gavin Kelly of the association.
“Every time it increases in price, it increases the cost of transporting goods across South Africa. We are very aware that diesel prices are determined by external factors; however, the reality is that whenever prices rise, carriers have to pass on that cost, which they cannot absorb.
Business – serious business, not for the faint of heart. Even if passion runs through the veins of your business, you must proceed with caution. Starting a business is like running a Comrades Ultra Marathon. You don’t wake up one morning and decide to run […]
BusinessBusiness – serious business, not for the faint of heart. Even if passion runs through the veins of your business, you must proceed with caution.
Starting a business is like running a Comrades Ultra Marathon. You don’t wake up one morning and decide to run it.
Click here to get an insurance quote online today.
You might first assess the situation, decide that the stats are good, then launch a training program to get you back to where you started.
Rating
The excitement of being your own boss or giving up a dead-end job can lead to an accelerated “Quit!” process. » Early mail. Stop and think about the possibilities:
Define your niche and what your solution should look like. It sounds cliché, stick with what you’re passionate about, because when times are tough, it’s passion that pulls you through.
Do your homework – Research, research, research. Thoroughly research your competitors, target market, and product. There’s no room for error.
Profitability – Think about your business model, what does the profit margin look like? Does it have the potential to increase profits as it grows?
Skills – What is the main skill set that will generate income for you in your chosen field, can it generate decent income and do you have the expertise to compete on the playing field?
Character traits – discipline, dedication, creativity, curiosity, resilience, confidence, self-reliance, humility, focus, open-mindedness. Out of these ten traits, how many are part of your strengths?
Activate
Once you’ve passed the feasibility test in the evaluation stage, and you’re determined to go ahead, you need to start building or fast-track your entrepreneurial activities:
Develop your personal brand – the moment the entrepreneurial seed was planted, you would have begun building your profiles on a variety of platforms. Whether it’s your website, LinkedIn profile, or YouTube channel, establishing your personal brand beforehand puts you a few steps ahead. But you need to think like a marketer and fine-tune it for serious business.
Advanced – During your “hungry” phase, listen to activities that will build on the skills you’ve identified as lacking or in need of improvement. Read a business book, take an online course, watch a video – anything you do to bring you closer to your business goals is worth the time and effort. This growth mindset can be one of the most important traits for the success and growth of your business.
Network – Develop a professional network of like-minded people. Immerse yourself with experts and thought leaders in your field. As well as benefiting from the knowledge and experience of a diverse group of people, it opens up new opportunities for you.
Finding a Mentor – Support, intellectual or ethical, is one of the most important factors in starting a business. A mentor can help you focus when your motivation wanes. A good mentor brings invaluable experience to fledgling startups, as they have learned to recognize patterns and can help point you in the right direction.
Implementation
Evaluation and Implementation is the same as the pre-marathon training and evaluation period.
It chews for days, weeks and months, but stick with it, the mental and physical strength you gain will pay off in the long run!
When it’s time to send that resignation letter, make sure you do it right.
Team Building – As smart as you are, trying to do everything yourself is exhausting and counterproductive. Your group may be as small as two (including you), but choose very carefully. Many companies have seen its demise because of a bad team member.
Start a life of hustle – you’ll have to give up Friday afternoon office drinks and Sunday parties, you may even have to divorce your friends and family, at least for now in a period of time. Many successful businesses start as side businesses, think:
Apple, Instagram, Under Armor.
Three Important Tips to Remember
Focus on Why – “People don’t buy what you do, they buy why you do it.” Every business owner and trader knows Simon Sinek by now.
Work hard, work smart – Yes, hard work is important, unless you like mediocrity – but do it with maximum efficiency. Define what processes and tools are for working smarter.
Plan B – While having a backup plan is both necessary and sensible to do, try to focus on your main plan. If you must implement a plan B, know that it does not mean failure. In fact, that’s how Twitter was founded.
Getting to the finish line makes every minute of your hard work worth it.
After you hang up your medal and start walking normally, evaluate your performance to see how you can improve for next year’s race. True entrepreneurs never stop reaching out.
One of the biggest failures of startups is not enough working capital. You must be able to survive up to six months without any income.
With 28,000 jobs lost in the South African formal sector in the third quarter of 2019, your small business idea can help make a positive contribution to your country and to your entrepreneurship.
If you’re about to become a small business owner, Auto & General’s business insurance will cover you against unforeseen risks.
The Department of Works and Infrastructure says the city’s electricity supply needs to be reviewed to ensure local governments can be held accountable. about their failure to pay the bills and guarantee the necessary production capacity for the people. The ministry last week released the […]
The Department of Works and Infrastructure says the city’s electricity supply needs to be reviewed to ensure local governments can be held accountable. about their failure to pay the bills and guarantee the necessary production capacity for the people.
The ministry last week released the document for Phase 2 of the National Infrastructure Plan 2050, detailing the path the government will take in implementing the country’s major infrastructure projects. himself in the next 30 years.
One of the biggest problems the country’s development faces is the difficulty for cities in collecting money owed to them by customers, the department said.
This prevents municipalities from paying their creditors, which affects their ability to provide electricity and water to households and residents, resulting in service failure , he declared.
At the end of 2021, customers owe the cities Rs 232 billion, equivalent to 12 months of revenue from these services. The Department said that more than three-quarters of the debt is over 90 days old, so it is difficult to collect.
Meanwhile, municipalities owe their creditors Rs 76 billion over the same period, or Rs 30 billion more than customers (counting customer debt less than 90 days only).
“The debt situation is getting worse every year. For example, the city’s debt to Eskom increased by 250% from 2017 to 2021,” he said. At the same time, customer indebtedness increased while assets and services deteriorated.
The ministry attributed most of the decline to poor governance and inadequate technical and managerial capacity. This especially affects the supply of electricity and water – something that has been highlighted in the current electricity and water crisis facing many centrally-run cities.
Electricity is changing
In particular, electricity has had a heavy impact on residents. In addition to the load reductions set up by Eskom, which left millions of South Africans in the dark for hours, residents also suffered from higher electricity prices than inflation. Eskom has asked for a sharp increase in 2023 – to 32% – which will always be reduced to the city tax rate.
Cities won a Supreme Court victory this past week when the courts overturned energy regulator Nersa’s method of calculating increases, but DPWI believes more needs to be done.
The Phase 2 plan includes a major overhaul of how cities self-govern the business of electricity, calling for a new licensing regime.
The department said a city’s ability to operate as a distributor is conditional, and the city must obtain a license to operate with serious consequences attached. “The conditions for the distribution unit to obtain and maintain a license to operate will be clarified, with important consequences such as loss of the license if the conditions are not met,” he said.
“If a city loses the right to operate the electricity distribution network, it must contract with an approved operator.”
The department said licensing conditions will include strong financial transparency and technical performance reporting requirements.
This will lead to consolidation of the electricity distribution business over time through the establishment of dedicated power distribution companies serving multiple centrally-run cities.
“The process will be accelerated through the use of financial incentives that link access to financing for infrastructure upgrades with performance,” the ministry said.
He said that over the next three years, a dedicated professional group will be established in Nersa to drive improvements and efficiency reforms in the city’s electricity sector through the implementation of a trusteeship regime. effective rights.
Business licenses are expected to be implemented in fiscal year 2023/24, with the first cases of revocation and transfer of licenses from centrally-run cities to other entities in the same area. a year.
In the meantime, the Department expects five dedicated power distribution companies to be established by 2025, meeting acceptable standards for financial performance, reliability, financial management. property and investment.
Bloomberg reported last week (October 21) that the 142-meter superyacht Nord anchored on Thursday, October 20 and departed for South Africa from Hong Kong, and is expected to arrive in Cape Town on 9 November Hill-Lewis said he had written to the Minister of International […]
NewsBloomberg reported last week (October 21) that the 142-meter superyacht Nord anchored on Thursday, October 20 and departed for South Africa from Hong Kong, and is expected to arrive in Cape Town on 9 November
Hill-Lewis said he had written to the Minister of International Relations and Cooperation, Dr Naledi Pandor, asking him to intervene to block the ship’s entrance and asking Mordashov not to allowed to enter this country.
“To our knowledge, Mr. Mordashov is on board and intends to enter South Africa via the port of Cape Town. If that happens, Mr Mordashov – and his luxury yacht – will be treated as a guest of the state of South Africa,” said the mayor of Cape Town.
The Cape Town mayor said that if the yacht is allowed to dock in South Africa, it would pose a moral crisis for the country and damage its reputation and standing as a peace-loving nation.
He added that South Africa has a moral duty to do what it can to protest unjust war, state terrorism, and the gross violation of human rights.
“The international community has recognised Russia’s invasion of Ukraine and its annexation of four areas of Ukrainian territory by force as illegal,” he said.
“Clear evidence exists for war crimes and crimes against humanity having been committed by the Russian state against the Ukrainian people, including deliberate attacks against civilian targets, massacres of civilians, torture, and the rape of women and children. Many thousands of people have died, and many more have had their homes destroyed and their lives torn apart.”
Mordashov is the main shareholder and chairman of Severstal, Russia’s biggest steel company. The steel industry is of important strategic importance to the Russian government and to the Russian war effort.
He is also the chairman of the company Severgroup, is one of the main shareholders of Bank Rossiya, of which he personally owns a significant portion, the mayor said.
“After Russia illegally annexed Crimea, Bank Rossiya actively expanded in the region, opening branches in Crimea and Sevastopol, forcing the economic integration of the Ukrainian territory into Russia. As a result, Mr. Mordashov personally benefited financially from illegal activities,” Hill-Lewis said.
The call for more days off comes after it was realized that Christmas Day would fall on a Sunday this year – meaning South African workers would only be entitled to 11 out of 12 paid public holidays. to which they are entitled under the […]
NewsThe call for more days off comes after it was realized that Christmas Day would fall on a Sunday this year – meaning South African workers would only be entitled to 11 out of 12 paid public holidays. to which they are entitled under the Holidays Act 1994
Under section 2(1) of the Act, ‘where a public holiday falls on a Sunday, the following Monday shall be a public holiday’.
However, the Monday after December 25, 2022 is already a public holiday (goodwill day), which means that workers do not benefit from 12 public holidays this year as the two will fall on the same day. a day.
According to the law firm Bowmans, the declaration of a holiday was fully within the sights of the President-elect at the time by declaring it in the Gazette under Section 2A.
This raises the question of whether December 27 should be declared a public holiday, and if so, how this will affect employee pay.
Depending on how a company structures its workday, a Fedusa appeal could result in three costly days for employers in December 2022.
Impact on employee compensation
Bowmans notes that this is as important as the Conditions of Employment Act No. 9 of 1997 (BCEA). BCEA discusses how employers should pay employees who work on Sundays and public holidays
Law firm says under BCEA employers must pay employees working on Sundays urgently double pay for every hour worked – unless the employee normally works Sunday – in which case the worker receives one and a half times the wage for each hour worked.
In addition, the BCEA stipulates that an employer can only require an employee to work on a public holiday if the employee has agreed to work. When such an arrangement is made, workers are typically affected in one of two ways:
If the holiday falls on the day on which the worker is expected to work, then the worker is entitled to be paid at least twice the standard daily wage or the standard daily rate plus holiday wages, whichever is higher; or
If the worker is not normally required to work on this holiday but is required to do so, he shall be paid the standard daily wage plus wages for the time worked on the holiday.
By contrast, the law provides that employees who do not work on a holiday that falls on a day they would normally work are entitled to standard pay for that day only, with no bonus that the day is an annual leave, Bowmans said.
However, on occasions like this year, when the holiday falls on a Sunday, it can be difficult to determine an employee’s salary as required by the BCEA, such as in Randfontein Estates Limited v National Union of Miners (2008). ) 29 ILJ 998 (ALC).
According to Bowmans, in this case, Randfontein Estates agreed with its employees that Sundays should be treated as normal working days, but holidays should not be treated as such. Here, Labor Day falls on a Sunday and is observed the following Monday.
Work stops on Sundays and Mondays and the National Miners Union requires its members to be paid for Sunday and Monday holidays.
Therefore, the Labor Appeal Court held that if a public holiday falls on a Sunday and Sunday is a normal working day, the employee who does not work on that Sunday and the following Monday shall be entitled to wages. standard for both days, Bowmans said.
However, the court added that if employees worked on Sunday, Monday or both, they would be entitled to at least double the standard rate for both days, Bowmans added.
This decision of the Labor Appeal Court has set a precedent.
If December 27, 2022 is declared a public holiday, the employer will be required to pay the worker at least two working days without work (Monday and Tuesday) and three days if Sunday is considered a working day.
Compensation costs will be doubled if an employer requires employees to work those three days by December
MTN Group Ltd dropped out of talks to buy Telkom – a deal that would have created South Africa’s largest mobile operator. MTN ended discussions because Telkom could not assure the largest telecom company that the negotiations were exclusive, Telkom said in a statement on […]
BusinessMTN Group Ltd dropped out of talks to buy Telkom – a deal that would have created South Africa’s largest mobile operator.
MTN ended discussions because Telkom could not assure the largest telecom company that the negotiations were exclusive, Telkom said in a statement on Wednesday, confirming an earlier report from Bloomberg News.
“Discussions are still in the early stages and have not progressed towards due diligence, and Telkom management has not received a binding offer,” said Telkom, a South African government-owned company, said. A representative from MTN said the company will release a statement soon. Telkom’s 4,444 shares have fallen 25 years after the announcement, valuing the company at around 18 billion rand ($1 billion). MTN shares fell 2%.
The companies are also worried about getting antitrust approval for any deal, people familiar with the matter said, asking not to be identified because the discussions are private.
Initial talks stalled after an unsolicited approach from Rain Group, which offered to sell itself to Telkom, Bloomberg reported. These people said the uncertainty caused by this opponent’s proposal also contributed to the breakdown of negotiations.
The combination of MTN and Telkom will overtake rival Vodacom Group for the most subscribers in South Africa. The deal is also likely to raise some antitrust issues, as the number of major mobile networks in the country will be reduced to three from four, with the majority of customers using the two major carriers.
Banyana Banyana focuses priority on matches against top opponents in preparation for next year’s World Cup FIFA next year is even more useful after they received a very difficult draw for the performance Next year . Desiree Ellis’ troops will face Group G in the […]
Banyana Banyana focuses priority on matches against top opponents in preparation for next year’s World Cup FIFA next year is even more useful after they received a very difficult draw for the performance Next year . Desiree Ellis’
troops will face Group G in the tournament in Australasia, and will face heavyweights Sweden and Italy as well as Argentina.
The respective rankings of the competitors paint a clear picture of the size of South Africa’s mission.
Sweden is currently considered the second strongest team in the world and is only slightly behind the defending world champions and leading team USA.
Meanwhile, Italy ranks 14th and although the Argentinians don’t have the same background as their male counterparts, they are just two places behind their best 29th.
That said, the South Americans – like Banyana when they first appeared in 2019 – have never made it past the group stage before.
Sweden finished second in 2003 and Italy twice reached the quarterfinals.
Ellis will be grateful for the insights and experience of Linda Motlhalo and Refiloe Jane, two members of his current team who played in Sweden and Italy for Djurgardens and Sassuolo respectively.
Meanwhile, the four-time USA champions will face the Netherlands in the group stage, a repeat of the 2019 final.
Megan Rapinoe’s USA will also face group leaders Vietnam and the team won the play-offs in the finals in Australia and New Zealand, following a draw in Auckland on Saturday.
European champions England, the pre-tournament favorite against the Americans, will face China, Denmark and another playoff winner. Led by veteran striker Rapinoe, the United States tops the FIFA rankings and is chasing its third consecutive crown – after beating the Netherlands 2-0 in the 2019 final.
Germany, Switzerland Sweden, France and Spain will also be the teams to watch as the World Cup takes place at 10 stadiums in New Zealand and Australia from 20 July to 20 August 2023. The opening match will be matched. organized La New Zealand against former Norwegian champions in Auckland
The Democratic Union has called for the elimination of VAT on more food items ahead of next Wednesday’s midterm budget report. This comes as inflation in South Africa slowed for a second straight month on Tuesday (October 19), according to data from Statistics South Africa […]
BusinessThe Democratic Union has called for the elimination of VAT on more food items ahead of next Wednesday’s midterm budget report.
This comes as inflation in South Africa slowed for a second straight month on Tuesday (October 19), according to data from Statistics South Africa – but food prices continued to rise.
Consumer price inflation increased to 7.5% year-on-year in September 2022, from 7.6% the previous year. Luigi Marinus, portfolio manager at PPS Investments, noted that inflation is currently averaging 6.7% for calendar year 2022 so far, well above the upper end of the target range.
Monthly inflation rose 0.1%, compared with a 0.2% increase the previous month, StatsSA said.
Transportation has remained a major contributor to inflation over the past year, as it has been every month this year except for January, which coincided with Russia’s invasion of Ukraine in February.
Other significant contributors to inflation during the year were food and non-alcoholic beverages (2.0%), housing and utilities (1.0%), noted Marinus.
“As has been the case in recent months, all 11 inflationary groups have increased in price year-on-year. Food and public transport, which are key factors in inflation for many South African consumers, recorded increases of 11.9% and 22.1% respectively on the year, a partly due to the side effect of a 34.1% increase in fuel prices.
Scrap VAT
DA Finance Portfolio Manager, Dr Dion George says many South Africans, especially the poorest, struggle to get food on the table due to the food cost crisis.
George requested the removal of VAT on more food items typically purchased by the bottom 50% of households, such as:
• Boneless chicken;
• Beef;
• Canned beans;
• Wheat flour;
• Margarine;
• Peanut butter;
• Baby food;
• Tea;
• Coffee;
• Soup powder.
“This will help poor households stretch their food budgets even further and allow them to buy more nutritious food.”
“We specifically appealed to Minister Godongwana for boneless chicken and other types of chicken commonly purchased by low-income households. The boneless chicken will cost about R3 billion, but experts say the intervention will be effective through improving health, work and school results.
“Bonned chicken is by far the most popular source of high-quality protein for low-income households, accounting for 14% of low-income households’ food budgets. South Africans. Poor people need a high-quality protein source to avoid George: “Switch to a less nutritious high-carb diet when your budget is tight.
The DA calls on the Secretary of the Treasury to announce cuts in import duties on pasta and other types of chicken purchased by very poor households, such as chicken. “This will provide substantial relief to the poorest households while the tax impact is negligible.”
The political party also urged the Minister to reduce fuel taxes to reduce transport costs. “The fuel tax cuts will mean more money for household food budgets and lower food costs, as high food transportation costs have driven up food prices,” says George.
“The fuel tax cuts can be accomplished by reducing corruption and wasteful spending, reallocating funds such as VIP protection budgets, and opening the economy to growth.”
DA pointed out a survey conducted by Debt Relief found that 81% of households skip at least one meal daily while 41% say they can no longer feed their family.
“This hunger crisis harms our society in terrible ways. At least 27% of South African children under 5 years of age are stunted due to malnutrition. Millions of students cannot concentrate and study. Worker productivity suffers and our society is increasingly unstable,” said George.
“Minister Godongwana can easily pay for these hunger relief measures if he curbs ministerial waste and promotes economic reforms to develop our economy for jobs, growth and income,” said the politician.
South Africa’s VAT regime already includes 19 basic foods that are rated zero to help limit the impact of VAT on poorer households.
Food without VAT in South Africa
• Whole wheat bread;
• Cornmeal;
• samples;
• Sticky rice;
• Dry powder;
• Dried beans;
• Lentils;
• Canned sardines / sardines;
• Milk powder;
• Milk powder;
• Rice;
• Vegetables;
• Fruits;
• Vegetable oils;
• Milk;
• Fermented milk;
• Brown wheat semolina;
• Eggs;
• Edible beans and legumes.
More Jobs
Bloomberg reports that slowing inflation over the past two months will not prevent the central bank from raising interest rates in November,
Policymakers raised policy rates by 275 basis points cumulative copy since November to 6.25%, Bloomberg said. The key interest rate implicit path from the central bank’s quarterly forecasting model, which the MPC uses as a guide, indicated in September that the benchmark would be at 5.6% by year-end.
This suggests that the committee has focused on the fight against inflation and there may be room to cool down the nation’s port growth cycle, hampering economic growth.
The main drivers of inflation in September were food and transportation. Core inflation, which excludes volatile items such as food and fuel, rose from 4.4% to 4.7%, suggesting underlying price pressures are building. Governor of
Lesetja Kganyago said in an interview with Johannesburg-based eNCA television on Tuesday that borrowing costs will only be lowered as inflation falls toward the midpoint of the target range. consumption is maintained.
“Once you see inflation back on target and closer to 4.5%, that’s what we’re really targeting, that will tell you the interest rate cycle has done its job. of it,” he declared. “If this is fine, it is time to adjust the policy.
Marinus of PPS Investments said while inflation remains above the upper end of its target range, the 7.5% figure is in line with consensus and below recent peaks. “The market is likely to assume that we have seen the peak of inflation and that the trend will decrease going forward.
“The Reserve Bank of South Africa’s hawkish stance will continue as South African and global inflation remains high and therefore further rate hikes can be expected before year-end.
Eskom Electric Company presented an operational update to the Standing Committee on Public Accounts (Scopa), including progress obtained in investigations of employees doing business with the corporation and acts of vandalism that resulted in incidents and load reductions. Eskom has joined the Special Investigations Unit […]
NewsEskom Electric Company presented an operational update to the Standing Committee on Public Accounts (Scopa), including progress obtained in investigations of employees doing business with the corporation and acts of vandalism that resulted in incidents and load reductions.
Eskom has joined the Special Investigations Unit (SIU) and Priority Crimes Investigation Branch (Hawks) to investigate a number of high-profile cases and ongoing issues with employees over the past few years. .
Through the investigation, SIU has identified hundreds of electricity employees doing business with the unit, creating a major conflict of interest.
Eskom employees are prohibited from having any personal interest or other interest in an Eskom contract, whether as a supplier, consultant or as a director or owner of the business. business or in any other capacity.
This includes transactions with third parties that are indirectly linked to Eskom.
The SIU identified 334 conflicts of interest within the group in which employees were found to have potentially affiliation with different organizations and suppliers doing business with Eskom. In addition, 5,464 employees were identified for not submitting their benefits disclosure forms.
The investigative unit indicated that in some cases the connection between an employee and a contract is not easily identifiable, with family or friends running the business on behalf of the employee.
In some cases, Eskom officials reached out to complete strangers to set up contractors and bank accounts through which to transfer funds.
Eskom suppliers also often pay bribes indirectly – such as paying for tuition or other bills – which makes it difficult to track cash flow, he claims.
Regarding acts of fraud and vandalism of the power system, the SIU said it has observed cases of non-compliant coal being delivered to the group. This was achieved by applying pre-certification processes at coal mines, SIU said, and has successfully passed other checks and balances through the participation of Eskom employees.
” (Staff) ensures that samples for testing are obtained in the absence of Eskom observers and facilitates sample exchange by transporting samples to the laboratory on a trucks are not equipped with the tracking equipment required by the contract,” he said.
The SIU said employees also colluded with the mines, offering contracts with inflated coal prices to meet “transportation costs”. These contracts are between the mine and the carriers who have relationships with Eskom employees – and because the companies are located outside of Eskom, electricity service does not show prices.
Transport costs are high due to sourcing coal from mines far from the station instead of suitable locations nearby.
Coal theft
The unit said there was also collusion between the transporters to mix the poor quality coal of some mines with the good quality coal of other mines. This ensures that the quantity required under the contract will be routed to the power plants.
“Because coal quality is often not tested when coal is delivered to a power plant, it is not possible to identify a source of lower quality coal.”
Eskom says Eskom can only mitigate this problem by installing automatic, real-time combustion testers that link to a specific truck’s test results, as soon as they arrive. coal to and before unloading.
Eskom CEO Andre de Ruyter says the current system has a certified mine-tested coal stockpile, loaded into a truck, sealed, and the vehicle itself equipped tracking device.
However, he said the team found significant tampering of the seals and jammers used to intercept the tracking signal.
“Coal trucks are then taken ‘out of sight’ to sites where good quality coal is exchanged for scrap coal – instead of 18 kilojoules per kilogram which is seven or eight – and that can very negative impact on our factories, he said. CEO
said real-time checks are difficult because the trucks are constantly unloading. However, he said the team is working on new methods, including container samplers, to do a better job.
Claim fraud
The SIU is also investigating cases of corruption or conflicts of interest related to the Medupi and Kusile constructions, with 29 contracts worth Rs 135 billion under review. . The majority of contracts involve Kusile (24 years old) worth R88 billion, where various lawsuits are being prepared and lawsuits against employees have begun.
It also looks at key issues with contractors submitting inflated claims, which are then resolved by Eskom officials with no or no investigation. These claims are often unsubstantiated and Eskom has allowed them to be dismissed, the SIU said.
This is due to Eskom employees manipulating or intentionally blocking the complaints process or even employees working with contractors against Eskom in the process.
Senior Crime
The Hawks – also gives an update on investigations in Eskom.
The group is investigating a number of alleged crimes including coal theft, diesel theft, cable theft, bomb threats, fraud and corruption, vandalism and more.
One of these cases involved nearly 6,000 kg of aluminum stolen from Eskom. The truck driver was arrested and further investigations into the entity involved revealed that stolen infrastructure worth Rs 20 million was identified.
Diesel oil worth Rs 200,000 was stolen from the Kriel power plants, where the transporters colluded with the Eskom weighbridge workers to steal the fuel.
The receiving agent let the carrier go after weighing the diesel, and the fuel was loaded into another truck at a farm down the road. The carrier then returns to the power station, weighs an empty load – incoming and outgoing volumes are recorded, and the receiver confirms the diesel, but it was never delivered.
“Eskom would then pay the diesel bill for the fuel it never received,” Hawks said. “The driver, after selling the diesel engine, will be paid in cash or electronically.”
Several alleged cases of theft and vandalism are still under investigation – or are expected to have been withdrawn to gather more evidence, the group said.
Group report, submitted to the Commission. The Media Portfolio Board, showed that TV royalties generated revenue of Rs 815.1 million in 2022, up from Rs 788.4 million in 2021, up 3.4% year-on-year. The broadcaster considers an increase in fees paid for a successful media campaign […]
NewsGroup report, submitted to the Commission. The Media Portfolio Board, showed that TV royalties generated revenue of Rs 815.1 million in 2022, up from Rs 788.4 million in 2021, up 3.4% year-on-year.
The broadcaster considers an increase in fees paid for a successful media campaign – however, even with a slight increase, they note that the fee collection compared to a total of Rs 4.4 billion has been set up. bill
Only 18.3% of total license fees were billed as revenue, similar to 17.9% recorded in 2021, SABC said
Recorded by the Broadcasting Commission. Note that the TV license fee evasion rate is therefore still worrisome, as the license fee collection rate shows a evasion rate of 81.7% in 2022, similar to the 82.1% indicated in year 2021.
SABC has a database of 10.5 million licensees – which means there are still about 8.6 million TV licensees.
Above all, SABC realized that there was not much they could do about the situation.
“While there are legal requirements to allow imprisonment for non-compliance, limited resources and cost implications make enforcement economically unfeasible,” SABC said, adding that added that the cost of television royalties was also higher than last year, reaching 8.9%. from 8.1% by 2021.
Proposed changes to address non-compliance
to replace the current TV license system with what would be called a “public media tax” – in an effort to limit the high levels of television license fee fraud .
National broadcaster said the new tariffs would not be suitable for equipment and would apply to all households and businesses.
It will also depend on whether or not South Africans can access the content, not just whether they view it. As a result, South Africans will have to pay royalties even if they don’t watch SABC content – just being able to access it on any device is enough.
ANC also supported this proposal. Speaking at a post-conference briefing in August 2022, Communications Minister Khumbudzo Ntshavheni said the party had decided to continue the proposal, noting that the current television licensing system was not working.
“The public broadcaster must be strengthened. SABC has both commercial mandate and public trust. On the public side, we want SABC to be funded by the national tax authority, but we also propose to tax households,” she said.
“Television license agreement doesn’t work, it really affects SABC’s viability.”
SABC says the adoption of a new TV licensing system in South Africa is one of the key interventions that need to be taken to make the national broadcaster financially viable.
Finance
SABC reported a loss after interest and taxes of Rs 258 million and a negative operating cash flow for the financial reporting period of Rs 353 million.
Unspent balance R86 million from refinancing capital of R3.2 billion from shareholders stabilized the cash position of the company. SABC said its working capital remained stable, with current net assets of Rs 677 million.
Even so, according to SABC, the company is expected to break even in 2022/23