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A resolution passed by the City of Cape Town’s Council yesterday, 31 January 2018, paved the way for the development of seven housing projects that will provide more than 15 600 housing opportunities across the city. Read more below:

Following Council’s approval, the City’s Transport and Urban Development Authority (TDA) will now conclude the seven contracts for the appointment of multi-disciplinary teams tasked with overseeing the successful implementation of the housing developments.

Since the contracts will be in place for longer than three years, the TDA had to obtain Council’s approval before the signing of the contracts could go ahead.

‘Together, the seven contracts amount to approximately R72,9 million. Once signed, multi-disciplinary teams will oversee the planning, design, and construction of 15 664 housing opportunities across Cape Town. Continue reading

The Democratic Alliance in the Western Cape, welcomes yesterday’s (31 January 2018) announcement by Premier Helen Zille that water will be provided to schools, in areas which are most affected by the drought.

I am pleased that the Premier has given this assurance, as it will ensure that our centres of learning will continue to operate without any interruptions. Furthermore, the additional facilities to source, store and use augmented water supplies, demonstrates the DA-led government’s commitment to our learners and educators, in the face of the current water crisis.

I would like to urge all schools to continue with their water saving efforts, as every intervention will assist in combatting “Day-Zero.”

Part of the Premier’s plans for schools that do not have access to boreholes, is to utilise sea water- and various recycled water sources. In addition, the WCG is currently engaging with various service providers, who might be capable of transporting 10 000 to 20000 litres of water per day to schools. 

There are now between 10-12 weeks left until Day-Zero is reached. This day will mark the time when Dam-levels reach 13.5%, which is the day that emergency rationing will take place. On this day, the City of Cape Town will switch of water access to all residential areas. 

The DA in the Western Cape remains committed to ensuring that each and every learner in our province has access to the relevant necessities as to ensure that they can make the most of their educational opportunities.

STATEMENT BY MAYORAL COMMITTEE MEMBER FOR SAFETY AND SECURITY; AND SOCIAL SERVICES, ALDERMAN JP SMITH

The City of Cape Town has once again started engaging with sporting federations on the use of sports fields amid the worsening drought crisis, in particular as it relates to the implementation of Level 6B water restrictions.

In terms of Level 6B restrictions, outdoor usage of boreholes is strongly discouraged. Usage of groundwater for irrigation purposes is limited to a maximum of one hour only on Tuesdays and Saturdays before 09:00 or after 18:00. This restriction is necessary in order to ensure that the existing aquifer is not depleted, as this water will be required to flush the city’s sewer network in the event of a Day Zero scenario.

However, as far as possible, we will permit the irrigation of sports fields with borehole water to allow key sporting events and tournaments to continue. We are engaging with each of the sports codes to ascertain to what extent the various league competitions can continue. Each sports federation is requested to submit a list of their most important fixtures and the City will prioritise the fields required for irrigation with treated effluent or borehole water. Continue reading

SA Rugby announced on Friday that it had reached an agreement with Allister Coetzee to part ways with immediate effect.

The Rugby Department of SA Rugby will manage the responsibilities of the Springbok coach, until the national team’s coaching and management group for 2018 is confirmed later this month.

Coetzee and SA Rugby agreed to terminate the relationship after a two-year association.

“First and foremost we had to assess what is in the best interests of the Springboks,” said Jurie Roux, CEO of SA Rugby. 

“We’d like to thank Allister for his passion and dedication to the Springbok cause and wish him every success in his next role.”

Allister Coetzee said: “I have always held Springbok rugby dear to my heart and will continue to do so and for that reason I think now is the time the team and me strike out in new directions. I wish Springbok rugby every success in the future – as I have always done.”

The confirmation of the Springbok management set-up is due to be completed before the end of February.

All media inquiries for further information should be directed to SA Rugby.

STATEMENT BY THE CITY’S EXECUTIVE MAYOR PATRICIA DE LILLE

Today I visited Wallacedene where the City of Cape Town handed over title deeds to residents living in the area.

I was joined by Councillor Suzette Little, Mayoral Committee Member for Area North, and City staff to celebrate this important milestone with residents.

Handing over ownership of property which residents have occupied for many years is very important and special to me.

It is more than just a piece of paper. It is a symbol of victory over the imbalances of our unjust past.

The transfer of ownership and handing over of title deeds is in line with the City’s commitment to redressing the imbalances of apartheid where people were denied ownership of property. Continue reading

The following speech was delivered by the City’s Executive Mayor, Patricia de Lille, before Council adopted the January adjustments budget today. Read more below…

Mr Speaker,

In tabling the January 2018 adjustments budget, I would like to highlight some of the main reasons for proposing the adjustments budget.

The adjustments budget is being proposed to incorporate funding shifts in the capital programme for the 2017/18 financial year as outlined in the report before Council today.

Additional reasons for the adjustments budget are to include amended Provincial Gazette allocations for 2017/18 and administrative transfers/virements of budgetary provisions as approved in terms of Council’s System of Delegations of Powers and the Virement Policy.

The adjustments budget is also being proposed to update existing provisions in accordance with the latest implementation projections, revised business plans and confirmed funding sources as well as to update implementation plans of projects. Continue reading

As part of our commitment to creating an opportunity city, the City of Cape Town has set aside R4,5 million to help students in need of financial assistance ahead of the busy registration period for universities and FET colleges for the 2018 academic year.

The City’s Corporate Services Directorate is offering bursaries to full-time students who live in the greater Cape Metropolitan area. These bursaries will cover costs relating to registration, examination and class fees. The bursaries apply to qualifying candidates who are registered for undergraduate or postgraduate degrees or diplomas.

Today, along with the Mayoral Committee Member for Corporate Services, Councillor Raelene Arendse, we briefed potential applicants, students and residents in Elsies River on how to apply for the City’s bursaries.

Education is the most important investment we can make in our youths and residents to ensure that they can obtain the required qualifications, especially in scarce skills which are needed in a range of industries.

Financial constraints often hinder people from achieving their full potential or obtaining a qualification that will allow them to become economically active.

The investment from the City for external bursaries is also in line with our efforts to address unemployment and contribute to poverty alleviation by giving residents access to these opportunities.  Continue reading

30 January 2018

Release: Immediate

The Democratic Alliance in the Western Cape strongly condemns the 8 incidences of stoning of MyCiti buses along the N2 Express routes in Langa, Khayelitsha and Mitchells Plein over the past weekend. These attacks are reportedly associated with Metrorail’s disrupted services on the Central Line, resulting in residents taking out their frustrations on the MyCiti service.

We understand commuter frustration with Metrorail, especially the ongoing suspension of the Central Line, but the senseless stoning of other public transport infrastructure as protest is absolutely unacceptable. Whatever the reason, endangering the lives of MyCiti operators and passengers cannot not be tolerated.

I call on the National Minister of Transport, Mr. Joe Maswanganyi, to ensure the restoration of the Metrorail service on the Central Line as a matter of urgency.

The City of Cape Town’s poorest residents are continually neglected by PRASA and Metrorail’s negligence regarding rail infrastructure support and maintenance. It is essential that Metrorail resume their services as soon as possible to ensure that the citizens of Cape Town are not robbed of a reliable means to move freely and gain access to employment. Continue reading

This from fin24.com:

Cape Town – The South African Reserve Bank (SARB) said on Tuesday that Capitec is solvent, well capitalised and has adequate liquidity.

Responding to a damning research report from Viceroy Group into Capitec, the SARB told Fin24 in an emailed response to questions that the bank meets all prudential requirements.

The SARB noted the 33-page report issued on Tuesday by the trio of short sellers and researchers of US-based Viceroy.
“As part of our mandate, we monitor the safety and soundness of all banks, including Capitec Bank. According to all the information available, Capitec is solvent, well capitalised and has adequate liquidity. The bank meets all prudential requirements,” said the SARB.

Viceroy Research in its report called on the SARB to immediately place Capitec under curatorship.

Based on South African household economic indicators and other macro factors, Viceroy believes the projected appetite of the market for microfinance is drastically overestimated.

Viceroy believes loopholes are being utilised to sustain unaffordable borrowing. This includes consolidating previous loans, restructuring or consolidation fees, initiation fees and service fees which, in the research group’s view, all hide “the true reality of a business struggling in a sector where historically, businesses have collapsed”.

Full story here:

https://www.fin24.com/Companies/Financial-Services/capitec-is-solvent-sarb-20180130

 

This from viceroyresearch.org:

Capitec: A wolf in sheep’s clothing

Based on our research and due diligence, we believe that Capitec is a loan shark with massively understated defaults masquerading as a community microfinance provider. We believe that the South African Reserve Bank & Minister of Finance should immediately place Capitec into curatorship.

Capitec Bank Holdings Limited (JSE: CPI) is a South Africa-focused microfinance provider to a majority low-income demographic, yet they out-earn all major commercial banks globally including competing high-risk lendersWe don’t buy this story. Viceroy believes this is indicative of predatory finance which we have corroborated with substantial on-the-ground discussions with Capitec ex-employees, former customers, and individuals familiar with the business.

Viceroy’s extensive due diligence and compiled evidence suggests that indicates Capitec must take significant impairments to its loans which will likely result in a net-liability position. We believe Capitec’s concealed problems largely resemble those seen at African Bank Investments (JSE: AXL) prior to its collapse in 2014.

Full story here:

Capitec: A wolf in sheep’s clothing

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