The Democratic Alliance (DA) has called for policy changes to bring about change to the country's current Broad-based Black Economic Empowerment (B-BBEE) policies of the ANC.
On Monday, the party slammed the current policies, which it said only benefitted a few politically-connected individuals.
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“Black people do not have land or property to pose as collateral, Dladla said.
Journal News spoke to economist and financial Analyst from the University of Free State, Dr Werner Otto regarding this.
When asked whether banks are hesitant to fund black entrepreneurs, he said banks are in general cautious lenders when considering the current macro–economic climate, ongoing political instability, and economic histories from the past such as the 2007 banking crisis also known as the ‘credit crunch’, which triggered the global financial crisis of 2008.
On BEE funding he says research does observe in favour of the importance of sufficient B-BBEE funding because not doing so may materialise as a reputational liability for banks, including a closed business opportunity.
“Apart from the previous points of relevance raised, business funding contracts must be financially and commercially sound, showing sound relevance of risk escalation”, said Otto.
Otto also said the B-BBEE Commission Report of 2022/2023 highlights the pressure on banks to support transformation, and agrees that banks’ failure to fund black entrepreneurs is a systematic impediment to entrepreneurial progress in South Africa.
Journal News reached out to all big four traditional banks, but did not receive response.
The sudden dissolution of the South African Tourism Board by Minister of Tourism Patricia de Lille has stirred a wave of concern and questions within the tourism sector and among government officials.
Chairperson of the Portfolio Committee on Tourism, Ronalda Nalumango, has voiced her apprehensions regarding the minister's abrupt decision which takes effect immediately.
Reports circulating through various media outlets indicate that the minister rendered the board null and void after it allegedly overstepped its mandates.
A point of contention appears to be the board’s recent decision to appoint one of its members to perform some functions previously held by Professor Gregory Davids, who stepped down in July.
Further complicating matters, it has been reported that the board convened a special meeting without the chairperson’s invitation, purportedly contravening its own established charter.
Nalumango announced that the committee will extend an invitation to Minister de Lille for a briefing on her rationale behind the board's dissolution.
“We look forward to hearing from her about this development, particularly in light of the committee’s earlier engagement on her commitments to take South African Tourism to new heights when she marked 100 days since her appointment as minister,” she said.
The South African Department of Defence has provided clarity regarding the official visit of General Rudzani Maphwanya, Chief of the South African National Defence Force (SANDF), to the Islamic Republic of Iran.
Initially slated for 2024, the visit has been postponed to 2025, following a decision from Minister of Defence and Military Veterans. The Minister granted authority for General Maphwanya to honour an invitation from Iranian officials, a move that underscores the importance of international military relations.
In a statement following the General’s recent return, the Defence Department confirmed that Minister and General Maphwanya hold a thorough discussion about the visit, highlighting the public's keen interest in the exchanges that took place in Iran.
During the visit, General Maphwanya engaged in bilateral discussions with Iranian military leaders on various topics of mutual concern. A key statement was issued by Major General Abdolrahim Mousavi, Chief of Staff of the Iranian Armed Forces, regarding the discussions held.
However, it was noted that General Maphwanya did not engage with the media in either Iran or South Africa, emphasising his commitment to respecting the confidentiality surrounding the discussions between the two armed forces.
Upon his return, the General provided a detailed report to the Minister, who expressed satisfaction with the outcomes of their engagement.
The Department of Defence will not be commenting further on the matter.
A family was left shocked when they found out that the fresh meat they were planning to cook was instead a foetus.
Image: File
A Wesbank family was left traumatised after discovering that what they thought was fresh meat was instead a foetus.
The incident happened on Monday night in Wesbank, Cape Town.
Natalie Walton said a man had given her sister the meat, telling her it was chicken.
“She didn’t give him money, but instead said she was going to braai the meat and then share it with him. She started the fire, and when she was going to spice the meat, she opened the plastic bag and found the foetus. She was so shocked, she ran out of her house and called the neighbour and the police,” Walton said.
She described the foetus as a premature baby girl.
“What the guy told us is that he was in Mfuleni, and then a woman handed him the plastic bag and said it was chicken, and then gave him bread. When he arrived in Wesbank, he attempted to sell it to a woman, but as she didn’t have any money, he gave the meat to my sister.
“My sister is very traumatised and even asked the police if she could go for counselling because of what she saw. The police arrived, and then on Tuesday morning, they asked the man who sold us the chicken to take them to where he got the plastic bag from. I’m not sure if anyone was arrested for that,” she said.
Police confirmed the discovery.
Western Cape police spokesperson Captain FC van Wyk said: “Mfuleni police registered an inquest case following the discovery of a foetus on Monday at about 5.55pm. According to reports, it was discovered in a plastic bag by an adult male in Appleby Road in Wesbank, looking for scrap.
“He immediately reported the discovery to the police, who responded, and the foetus was handed to Forensic Pathology Services for analysis and to determine possible origin. The investigation continues, no arrest yet.”
Anyone with information has been requested to contact investigating officer Detective Sergeant Vuyelwa Tshetsha on 021 909 9670, Crime Stop on 08600 10111 or use the MySAPS app anonymously.
The Deputy Minister in the Presidency responsible for Planning, Monitoring and Evaluation, Seiso Mohai, has expressed satisfaction with the progress made in addressing the flood disaster in Mthatha, Eastern Cape.
He and his team conducted an oversight visit in the area to assess the extent of the damage to infrastructure and basic services.
They visited one of the mass care centres, the Thornhill Water Treatment Works and Maydene Farm construction site.
Over 100 people were left dead by the floods, while over 1000 were left displaced.
Mohai says despite his satisfaction with the progress made in dealing with the matter, the situation at the centre is cause for concern.
He says, “Obviously, we will never wish anybody to stay in a community hall because that facility is not meant for people to sleep in it in the first place and very basic issues that affect the human dignity gets compromised easily, but we believe that they will soon be out of that condition, be in dignified units as progress is being made.”
Water infrastructure
The devastating floods caused huge damage to water infrastructure, leaving communities without water for over two weeks, but that has since been resolved.
Mohai says they will work with provincial and local leaders to ensure that the issues are prioritised.
He says, “We will be dealing with those matters of detail outside of the normal environment, also to engage even with entities or state entities like Eskom to look into areas where services were disconnected and services have got to be regularised the same way as we have visited the water plant.”
Mohai says, “We have seen how that infrastructure impacted in the supply of other communities, so those are priority areas that we are going to be dealing with and ensure that of course, also in the long term, the people’s lives are adjusted.”
Construction is underway at Maydene Farm, where the displaced victims of the floods will be temporarily sheltered.
The Province’s Human Settlement MEC Siphokazi Mani-Lusithi says she is also satisfied with the progress made.
Mani-Lusithi says, “We’re really encouraged by the progress and the speed in which the contractors are moving. We have given them a target that by Friday, we should have finished 100, we already have 25 in one day, so by Monday, we should be moving the first group of families into their homes.”
The Department aims to move all the displaced flood victims to the temporary structures by the end of September.
Magistrates are demanding a salary increase, saying they earn less than Members of Parliament, traditional leaders, and mayors.
The Association of Regional Magistrates has approached the South Gauteng High Court, to push for the increase, but their legal bid was dealt a setback when the Presidency filed papers at the eleventh hour.
The matter was subsequently struck off the roll.
President of the association Magistrate Ian Cox, says the 34% increase is not a ‘thumb suck’, but rather based on recommendations from the Independent Remuneration Commission (IRC).
According to Cox, the commission is the one that makes recommendations to the President regarding the determination of their salaries.
“This is not an annual cost-of-living adjustment. It is a correction of the wrongs of the past 10 to 15 years, where we’ve been receiving sub-inflation increases of up to 2%,” Cox explains.
When the matter went to court on Monday, it was found that the President had referred the recommendation back to the IRC for reconsideration.
Cox says the association asked for the matter to be removed from the roll, and costs were awarded due to the manner in which the President's legal team litigated the matter.
He says they still have the option of returning to court should the President's legal representatives not act within a reasonable time to get some relief.
