Business

Drivers threaten to shut down Uber and Taxify

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Uber and Taxify drivers have threatened to shut down the ride e-hailing services should their demands not be addressed.

They marched to Uber offices in Krammerville in Johannesburg on Tuesday and handed over a memorandum of demands.

They gave both companies 48 hours to respond to their demands.

Among some of their demands is for the 25% commission which they claim Uber receives, to be reduced to 15%.

Taxify on the other hand, claims its drivers receive between 13 to 20% and that they even increased fares recently in response to the fuel price hike.

Spokesperson for the drivers Vhathuka Mbelengwa says thus far they have not received any official response. ”

Uber has put out press releases about offering driver incentives and fuel top up incentives. These are solutions we have assessed and feel they lack impact in what we are trying to accomplish. We want real solutions. We want our demands met.”

The post Drivers threaten to shut down Uber and Taxify appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Source: SABCNews

Eskom halts retrenchment plans

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Eskom says it will seek ways of reducing staff costs other than cutting jobs. This after it halted a plan to offer workers voluntary retrenchment deals.

Eskom chairperson Jabu Mabuza announced last month that the power utility was weighing its options to reduce staff by 4.2% to 31 675 employees for the 2018/2019 financial year.

This week reports emerged yet again that the power utility plans to retrench 15 000 workers as part of it’s turn-around strategy.

Eskom spokesperson Khulu Phasiwe says if they decide to retrench, unions will have to be notified first and thereafter negotiation’s will have to take place.

Phasiwe says they want to finalise wage negotiations with unions this week.

He says the issue of retrenchments is not on the agenda.

“We would like to put in on record that Eskom Board together with management have not actually said anything about retrenchments.”

“Over the last few years we have seen a pattern where we are loosing on average about 4% of our staff. As and when people resign some of those positions are not going to be filled and that is different from retrenchment,” says Phasiwe.

This year Eskom applied to the energy regulator Nersa to raise electricity tariffs by 20%. Nersa granted the power utility 5.2% with effect from April 1st.

Phasiwe says they are currently busy with their business plan, which should be finalised by the end of September. “That business plan looks at improving Eskom efficiencies. The plan is going to influence the structure of how Eskom is going to look like going forward.”

The post Eskom halts retrenchment plans appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Source: SABCNews

Uber, Taxify drivers vow to continue strike action

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Uber/Taxify drivers say they will not be deterred from highlighting their plight. This after they found Uber offices closed as they attempted to deliver a memorandum of grievances in Garsfontein in Pretoria on Tuesday afternoon.

Scores of drivers have shut down their operations nationally.

They’re demanding that the mother company, E-hailing, increase their fare price due to fuel hikes that are killing their profits.

One of the march organisers, Chris Ravhuhali, says their members are being ill treated and intimidated by rival operators.

Ravhuhali says they’ve so far lost seven members in violent attacks.

“These are the issues that we’ve been engaging with the mother body and government. The justice system has been so reluctant, ignorant and arrogant towards what we’ve been saying to them. We’ve lost seven lives, and the is not a single case where a breakthrough was made.”

“No single arrest and no feedback as to how far they are with the investigations,” adds Ravhuhali.

 

The post Uber, Taxify drivers vow to continue strike action appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Source: SABCNews

Tough times as fuel price goes up

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South African motorists have expressed mixed feelings after the price of fuel rose again on Wednesday.

Prices at the pumps have increased five times since the beginning of the year.

The price of petrol and diesel has increased by around 26 cents a litre, paraffin by 22 cents a litre and LP-Gas by 37 cents a kilogramm.

Times are tough for most South Africans, but not everyone is willing to change their lifestyle. Not even the increases in fuel prices can deter South Africans from driving their cars.

“I bought the car and I want to use it every day to come to work so why should I use a public transport; it’s costing me but this is my car… I have to use it.”

Fuel retailers say they have seen more motorists spending smaller amounts to refill their tanks. But they say, the volume of fuel sold hasn’t changed.

Some say they will have to bite the bullet and hope that government will eventually do something.

The hike is expected to hit small business hard as not all are able to pass on the increases to their customers. Taxi drivers say the increase will make difficult to keep up with the high maintenance of their vehicles.

 

 

The post Tough times as fuel price goes up appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Source: SABCNews

Limpopo water project faces forensic investigation

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Tap

There will be a forensic investigation into the multi-billion rand Nandoni-Nsami Bulk Water Pipeline Project in Limpopo after Water and Sanitation Minister Gugile Nkwinti announced it on Saturday.

The project, which started in 2014, was meant to supply the water-strapped Giyani area in the province’s north-east.

However, construction of the pipeline has been marred by several work stoppages and court cases since inception.

Villages in the Giyani area still do not have running water.

Nkwinti says the investigation will look into where the R3.5 billion spent on the project thus far has gone.

He says: “R3.5 billion is gone and you are telling me you don’t have water, this tells you there is a problem. There will have to be a forensic investigation.”

“When I look at the budget spent and the what it has done in terms of value for money there is a disjuncture,” adds Nkwinti.

The post Limpopo water project faces forensic investigation appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Source: SABCNews

Airbus, Boeing fly into lucrative services market

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Airbus and Boeing may have built their global success on the back of the transcontinental airliners but they are now eyeing a lucrative if rather less glamorous side of the aviation sector in their battle to dominate the skies — parts and repairs. While booming demand for air travel across has seen the world’s top
Source: The New Age

KPMG top executive suspended

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Audit firm KPMG has suspended Sipho Malaba, a top executive who was in charge of the VBS Mutual Bank audit.

VBS was placed under curatorship by the Reserve Bank after it faced serious liquidity challenges.

Malaba was appointed with the new executive in 2017 in a bid to regain public trust following the audit scandals that blemished the firm’s image.

KPMG came under the spotlight late in 2017 with scandals involving audits for Gupta-linked businesses and over the so-called rogue unit report at the SA Revenue Service.

The audit firm says in a statement that it is investigating the matter in full cooperation with the curator of VBS Mutual Bank. It says Malaba is suspended pending the outcome of the ongoing investigation and would not comment further on the matter.

VBS Mutual Bank is accused of manipulating financial information on its books with close to R1 billion that cannot be accounted for.

The bank was placed under curatorship after it took large municipal deposits and lent them on a long-term basis and could not meet clients’ withdrawals when the money was required.

The post KPMG top executive suspended appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Source: SABCNews

Government farming project yields fruit in F. State

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A government farming project initiative has changed the lives of small farming community of Diyatalawa situated between Kestell and Harrismith in the eastern Free State.

The government pilot site for comprehensive rural development programme was established in 2009. Millions of rand have been invested in the project since its inception.

More than 2000 hectares of land is allocated for agricultural projects. Pockets of success have been realised on the farm.

Various farming projects are being cultivated for the community. More than30 families are beneficiaries of government’s land reform programme.

The Democratic Alliance (DA) oversight visit to the farm believes more is needed to help emerging black farmers.

“And this farm we found that the department has assisted with planting orchards. By the end of this year they will have six hectares of apple orchards but they need a very small tractor. Now apparently the department tells them you are big farm all you can get is a big tractor. They have successfully planted  sunflowers but for them to harvest they travel up and down between Harrismith and the farm,” says DA MP, Annette Steyn.

The communal property association at the farm says more funding is needed to maximise farming at the land.

And government can assist us to plant the whole farm as they did before, because the money we got we bought tractors. So we are now not able to plough back at the same volume. We think government can assist us and also  give us more dairy cattle so that we can continue with milking the cows,” says CPA chairperson Fanyani Maduna.

The Department of Agriculture and Rural Development has provided the beneficiaries with 50 houses with solar panels, paved roads, creche and a farm school. The department says it is committed to assist beneficiaries to learn more about farming business.

The post Government farming project yields fruit in F. State appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Source: SABCNews

Judgment reserved on Atul Gupta and Bank of Baroda case

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Gupta brothers (L)

Judgment has been reserved in the High Court in Bloemfontein in the preservation order matter involving the controversial businessman Atul Gupta and the Bank of Baroda.

The legal representatives for Atul Gupta and the Gupta companies have argued that the High Court in Bloemfontein has erred in granting the preservation order to freeze the assets of the Bank of Baroda and the R10 million his in personal account.

The National Prosecuting Authority (NPA) argued that various deposits were made to the Bank of Baroda from the Estina project.

The money left the account as soon as it was deposited.

NPA’s Advocate Thato Ntimutse argued that there is a string of illegitimate transactions in the account and that Bank of Baroda failed to keep proper records of their banking. The court heard that the bank does not operate within the prescripts of the law.

At some stage it received a fine of R11 million from the Reserve Bank.

Ntimutse says: “The fact of the matter is… the Bank of Baroda runs an account which is like a trust account of an attorney, where all the money comes into a single pool, entries are made by someone at the bank to say a certain amount of money has gone in for a certain client.”

The Bank of Baroda’s Legal representative refuted the NPA’s allegations.

Luc Spiller said: “The National Director of Public Prosecutions (NDPP) also went on to make various allegations about the inadequacy of record keeping Baroda.

“The response to that, there has no bearing upon this case… as because it has nothing to do with the principle of co-mangling. The instances of inadequacy are wrong records.”

 The case which was set down for two days has been adjourned; judgement will be delivered next Friday.

 

Related video click below:

The post Judgment reserved on Atul Gupta and Bank of Baroda case appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Source: SABCNews

National minimum wage in spotlight

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THERE are serious consequences for those who misrepresent the facts in demonstrating their “inability” to pay the national minimum wage. The Department of Labour is developing an online system to help analyse data submitted by employers when applying for national minimum wage exemptions. Exemptions cover employers who can demonstrate that they are not able to
Source: The New Age

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