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TimesLIVE
a day ago
- Business
- TimesLIVE
Western Cape tops SA rental charts as prices soar past R11,000
The figures showed the Western Cape has a growing appeal among high-net-worth individuals and international investors. 'The sustained influx of people to the metros in search of better economic opportunities is expected to continue fuelling demand for rental accommodation. Additionally, semigration trends to coastal areas, the Cape in particular, will probably continue to drive higher demand and higher average rentals in the Western Cape,' said Seeff. According to Seeff, the average national rental exceeded R9,000 per month by the end of 2024, which was a milestone that reflected strong demand and economic pressure on tenants. 'The past year was relatively good for the residential rental market, with rents trending higher. According to rental property barometers, landlords enjoyed positive rental income growth.' Rental income growth stood at 5.2% for the last quarter of 2024, significantly outpacing the national average house price growth of 0.8%. However, this rental growth tapered as the year progressed. 'The Eastern Cape enjoyed growth of 7.3% in 2023, but it fell to 4% at the end of 2024. Rental growth for the Free State reduced from 9.1% in the first quarter of 2024 to 3.5% by year-end.' The figures showed other provinces also experienced a slowdown: Mpumalanga: ended the year with 0.2% growth; Northern Cape: improved slightly but closed the year at 2.6%; Gauteng: ended with 3.4% growth; and KwaZulu-Natal: recovered to end with 4.5% growth. Conversely, the North West and Limpopo stood out for strong performances as North West showed a 7.2% growth in Q4 2024 and Limpopo had 11.1% growth which was well above the national average. The Seeff Group believed economic conditions and interest rates would remain critical factors in shaping the rental landscape but also cautioned against unrealistic rental escalation expectations. 'If both improve, as expected, landlords can probably look forward to another good year. Landlords are cautioned to remain mindful of the economic pressures. Raising rents above the average rates may result in increased vacancy rates.' Additionally, tenants are becoming more value-conscious amid cost-of-living challenges. 'Tenants are increasingly prioritising value for money, seeking smaller, more efficient units in well-located areas.' Seeff also highlighted an encouraging trend of fewer tenants falling into arrears. Data from PayProp for the final quarter of 2024 showed only 17.1% of tenants were in arrears. 'Tenants are still spending about 44.1% of their income on rent, largely due to low-income growth and the impact of high interest rates.' Tenant screening and professional property management are becoming more critical. 'Working with a credible rental agency, whether to source a tenant or manage your rental property, is a definite advantage in the current market. By doing so, landlords can mitigate risk and maintain a stable rental income stream.'
The Citizen
a day ago
- Business
- The Citizen
Home Affairs raises alarm over border authority underfunding
The funding crisis is forcing the BMA to adopt a "do more with less" approach, limiting its capacity to address border security challenges. Picture for illustrations purposes. Border Management Authority (BMA) guards at the Beit Bridge port of entry in Limpopo. Picture: GCIS The portfolio committee on Home Affairs has raised serious concerns about the continued underfunding of the Border Management Authority (BMA), warning that financial constraints are severely hampering the organisation's ability to fulfil its mandate and implement crucial cybersecurity measures. The BMA faces critical funding shortfalls that are hampering its ability to secure South Africa's borders and combat corruption, with the agency receiving only 30% of its requested operational budget. During a parliamentary meeting on Tuesday with the Department of Home Affairs (DHA) and the Border Management Authority to review revised annual and strategic plans for the 2025-26 financial year, committee members raised serious concerns over what they described as systemic funding shortfalls that pose significant security risks to South Africa's border operations. BMA Chief Financial Officer Zamachonco Chonco revealed that the BMA had requested R500 million for capital funding but received only R150 million. 'We do appreciate it we're not saying we we're not saying this by way of lack of appreciation for what we got but we are saying it's still far short taking us where we have to be in terms of you know delivering on the mandate of the BMA,' Deputy Commissioner Mabjoalo Jane Thupana told the committee. The funding crisis is forcing the authority to adopt a 'do more with less' approach, significantly limiting its capacity to address border security challenges and implement critical anti-corruption measures. Cybersecurity and staff integrity concerns The committee highlighted that the authority's cybersecurity roadmap remains completely unfunded, creating potentially dangerous vulnerabilities in border security systems. Equally concerning is the BMA's inability to conduct lifestyle audits for all employees due to budget constraints, a situation the committee views as particularly problematic given the sensitive nature of border operations. Committee chairperson Mosa Chabane emphasised the critical importance of regular integrity checks within the border environment. The committee had previously stressed the necessity of frequent lifestyle audits as essential tools for maintaining ethical standards at ports of entry and preventing corruption and fraudulent activities. Thupana disclosed that conducting lifestyle audits for just 100 employees would cost R9 million, meaning auditing all BMA employees would require nearly a quarter of a billion rand. 'We continue to work hard. This is one of the projects where we are saying we just needed to inform members that we don't have money for this at the moment, but we are prioritising it. Any money that becomes available for the BMA, we will be able to do that,' Thupana explained. The commissioner emphasised that more than 90% of BMA employees are frontline officers, including border guards, specialised immigration officers, and law enforcement personnel, as well as back-office staff in supply chain management, who all need to be subjected to these audits. Digital transformation leadership gap The committee has intensified pressure on the Department of Home Affairs to expedite the appointment of a Deputy Director-General for ICT, describing this position as fundamental to driving the department's digital transformation initiatives effectively. 'Digital transformation of the DHA has been identified as a critical pillar of the strategic plan, and having a dedicated leader will ensure close focus, especially in the context of complexities and cybersecurity risks within the environment. While the committee acknowledged the secondment of an ICT official from the Council for Scientific and Industrial Research, the intervention is not permanent,' Chabane stated. Progress on digitisation despite challenges The committee acknowledged positive developments in the department's ongoing digitisation of paper-based records, an initiative launched during the previous administration under former Minister Aaron Motsoaledi. However, members urged the department to secure additional funding to enhance the digitisation process and ensure it delivers expected outcomes. Chabane noted that persistent problems with lengthy queues and frequent system downtimes require dedicated expertise within the ICT sector to develop innovative solutions. The committee emphasised that recent government announcements allowing departments to procure IT services from private providers necessitate high-quality service delivery to the public. ALSO READ: Big changes coming for ID, passport applications and birth registrations – Home Affairs BMA deployment falls short of targets The BMA's ambitious plans to strengthen border security through increased personnel deployment have also been derailed by funding constraints. The authority currently has 600 border guards and had planned to increase this number by 200 annually, reaching 2,200 by 2032. However, this conservative target remains far below the 10 000 border guards proposed in the original roadmap. Thupana acknowledged that even the modest annual increase of 200 guards 'is also not materialising' due to budget limitations. The authority is pinning hopes on technology to multiply the effectiveness of its limited human resources through the use of drones, underground sensors, and other international border monitoring technologies. Integration challenges persist Home Affairs Minister Leon Schreiber highlighted another critical issue hampering the BMA's effectiveness: the incomplete integration of the South African Police Service's border policing function. Schreiber revealed that while he has completed his part of the process, the final step of establishing the BMA remains with Saps. 'We are all working and operating in this committee as if the process of establishing the BMA is concluded, but it is quite a serious issue that the Saps part of that has not been concluded,' the minister stated. He confirmed ongoing engagement with the police minister to resolve this urgent matter, noting that a 'large number of officers' could be integrated into the BMA once the process is completed. ALSO READ: BMA officials intercept stolen motorbike, cellphones and cars at Kosi Bay Operational constraints and creative solutions The funding shortage has forced the BMA to explore creative solutions to maintain operations. Thupana outlined a multi-skilling programme where officials are trained across different areas, allowing biosecurity inspectors to also handle environmental products and other related functions. The authority has also begun collaborating with municipalities, starting with the City of Cape Town, to share capacity and relieve pressure at ports of entry. These partnerships aim to better utilise available resources for improved port functioning. Despite these efforts, basic operational needs remain unmet. The limited capital funding can only be used for operational equipment such as drones, speed boats for coastal guard operations, vehicles, and other specialised border management equipment. ALSO READ: WATCH: BMA intercepts and detains over 6 000 people trying to enter or leave SA illegally Smart ID rollout faces implementation challenges The committee also heard about ongoing challenges with the smart ID rollout, which the minister described as critical for combating identity fraud. With an estimated 18 million green ID books still in circulation, Schreiber cited research showing that smart IDs are 500% less prone to fraud than green ID books. 'There was a report out earlier this year that found the smart ID is 500% less prone to fraud than the green ID book and that the green ID book in fact has a fraud rate of 34% according to these researchers, which makes it the most defrauded one in Africa,' Schreiber revealed. The department is exploring various mechanisms to expand smart ID access, including smartphone applications, partnerships with banks, kiosks, and mobile units, with the ultimate goal of ceasing green ID book production. ALSO READ: Schreiber explains persistent ICT failures plaguing home affairs offices Branding and infrastructure needs Thupana also addressed the importance of proper branding and signage at ports of entry. She noted that poor signage facilitates corruption by allowing people to deliberately get lost or enabling officials to misdirect travellers to meet them in isolated areas. 'When there is proper signage, people know where to go, [and] it also facilitates movement, people are not lost wasting their time not sure where to find what they are looking for,' Thupana explained. She further emphasised that improved branding serves efficiency and helps combat criminal activities within port premises. Budget transfers still pending The committee learned that some departmental functions transferred to the BMA came without corresponding budget allocations. The BMA's chief financial officer is still engaging with various departments to secure budget transfers for items such as lease agreements for properties housing nearly 400 employees across different ports. 'When some departments identified budgets to be transferred, they focused on the budgets for compensation of employees and maybe just some assets like their laptops, tools and the desks they're sitting on. But the budgets that were centralised were not within where ports were located in the departments, but within facilities somewhere; this budget was not extracted to be transferred to the BMA,' Thupana explained. ALSO READ: 20 vehicles recovered at Kosi Bay border; latest incident linked to insurance fraud Counter-corruption unit success The committee praised the effectiveness of the department's counter-corruption unit and called for continued adequate funding to support its operations. Members highlighted the unit's significant impact in combating fraud and corruption within departmental operations, as well as its role in protecting the integrity of the country's documentation systems. 'The major headway the unit has made in breaking racket that fraudulently sells the department's documents must be protected and promoted. The unit must be properly resourced, both in human capacity and technological tools of trade,' Chabane stressed. READ NEXT: Home Affairs launches Operation New Broom to tackle illegal immigration
IOL News
2 days ago
- Business
- IOL News
Pension freeze for former NLC official amid serious fraud allegations
The pension fund of former National Lotteries Commission senior manager Sanele Dlamini was frozen. Image: File Former National Lotteries Commission (NLC) official, Sanele Dlamini, has been interdicted from cashing in on his pension, pending the outcome of the Special Investigating Unit's (SIU) investigation into allegations that he improperly authorised the payment of R3 million towards a project which never materialised. The SIU turned to the Special Tribunal to freeze Dlamini's retirement fund, which is due to be paid to him. Dlamini is a former senior manager of the grant operations of the NLC. The SIU is litigating on behalf of the commission to recover losses that it suffered as a result of irregular and unlawful practices. The SIU said it believes that Dlamini may be 'a man of straw', and if its investigations reveal any wrongdoing on his part, they will at least be able to recover the NLC money from his pension fund. The NLC had awarded the Motheo Sports Foundation a grant of R9 million for the construction of a sports complex. The first payment made was nearly R3.6 million. The SIU investigation revealed that this amount was not used for the funded project but was instead shared among several people and/or entities as an undue gratification. It was alleged that Dlamini authorised the payment of the money based on falsified progress reports, despite no work being done on the funded project. Investigations revealed that the land was used as a dumping site. A disciplinary inquiry subsequently found Dlamini guilty of gross negligence and misconduct, and he was dismissed. The SIU now seeks to preserve Dlamini's pension fund at Liberty Life Insurance, pending the outcome of a review application to recover the funds. Dlamini, in opposing the application, said it is clear that the sports foundation received the funds and not him. He was not part of any fraud or scheme to siphon off money from the NLC. He was not present when the project was approved. At that stage, he was the provincial manager for the KwaZulu-Natal office of the NLC. He asserted that he unfairly attracted blame for this entire saga for simply approving a payment of R3 million to the Motheo Foundation. He argued that the money must be recovered from the principal debtors, being the persons and entities who received the NLC money. Therefore, he should not be held liable. Dlamini said he based his approval of the progress report, the financial report, and visuals showing the site and work in progress. He stated that he was the victim of the fraud, as also the NLC.
The Citizen
3 days ago
- Business
- The Citizen
Average rent in Gauteng tops R9k: How do other provinces measure up?
Western Cape remains the most expensive province to rent in, while the Northern Cape has overtaken Gauteng in rental costs. Everyone needs a place to call home, but for many South Africans, owning one is out of reach. Renting becomes the next best option, unless you are staying with your parents. Still, even renting comes at a high price. For most, rent consumes a significant portion of their salary. According to the latest PayProp Rental Index, the average rent in Gauteng, South Africa's land of opportunities, now sits at R9 201. But Gauteng is not even the most expensive province to rent in. The province remains the country's most populated, with the highest population driven by the hope of better opportunities, whether it is landing a job, launching a business, or starting a new life. Cheapest province to rent a place The Index's findings are based on the first quarter of 2025, utilising transaction data from the R1.4 billion in rent that PayProp processes each month, along with credit scoring from Experian. North West, home to Sun City, retained its position as the cheapest province to rent a place in, at R7 153, which is an increase of R852 compared to the previous year. What is surprising is the share of tenants that are in arrears in the North West, as the percentage remains significantly high. Two quarters ago, North West was the second-highest province in the country, with 22.9% of its tenants being in arrears. In this quarter, the province has 18.6% of tenants in arrears. Most expensive province to rent a place As expected, the Western Cape remains the most expensive province in which to rent a place. The Index highlights that the province has had the highest rents in the country during the first quarter of 2024, but only average rental growth, just as it has for the past several years. 'The province experienced the highest growth in South Africa in the second and third quarters, and reached double digits in the fourth quarter,' reads the Index. It would cost you an average of R11 285 to rent a place in the Western Cape, which is R985 more than the previous year. Rent in the province is R1 704 more than the second most expensive province to rent in. '13.7% of Western Cape tenants were in arrears in Q1 2025, 0.5% more than the previous quarter. Tenants in arrears owe 60.2% of the average rent, once again the lowest in SA and down by 0.7% from the previous quarter.' ALSO READ: The ups and downs of Cape Why is the Western Cape loved? Johannesburg was once home to South Africa's wealthiest individuals. However, the tables have turned, with the country's most centi-millionaires now found in Cape Town. Henley & Partners' Centi-Millionaire Report for 2024 outlined that Cape Town has taken the crown due to high hopes of better governance, improved service delivery and greater safety. 'Other factors that come into play when these wealthy individuals make a decision to relocate include the economy, the tax environment, business and investment opportunities, and privacy and security,' read the report. The report listed Cape Town as the most loved holiday destination in the country, with more than 150 centi-millionaires owning second homes in the city. The Mother City is the only city that shows as the elites' favourite holiday destination in the country. Rent in Northern Cape Renting a property in the Northern Cape is more expensive than renting in Gauteng. The Index revealed that the average rent in the province is R9 581, while it is R9 201 to rent in Gauteng. Rent in the Northern Cape is now R307 more than a year earlier, and it remains the second highest in the country. 'The share of tenants in arrears fell to 18.9% in Q1 2025, 0.1% below the previous quarter and 1.9% lower than a year earlier. 'However, the amount they owe rose sharply, from 65.7% last quarter to 71.1% in the latest stats. Even so, this is still well below average.' ALSO READ: Are municipalities failing — or are residents just unable to pay? Why many are turning to off-grid living The fall of Gauteng Gauteng is the geographically smallest province in the country, and its average rent for the first quarter of 2025 increased by R258. The Index is of the view that unless rental growth in Gauteng turns around, it could easily lose its place on the podium this year. '15.6% of tenants owed rent, down from 16.3% in Q4 and the second-lowest share in SA. However, tenants in arrears owe an above-average 86.0% of rent. This is down compared to last quarter's 89.2%, but it is still the second-highest in SA.' The City of Gold has experienced deteriorating service delivery, rising crime rate, mismanagement of public funds, corruption, and collapsing infrastructure, among other issues. What about other provinces The fourth most expensive province to rent in is KwaZulu-Natal, with the average rent being R9 170, an increase of R400. 'The percentage of tenants in arrears in KZN is also unchanged since last quarter, at 19.4%. This is the third-highest percentage in SA, but still the lowest it has been in the province in over five years. 'On the other hand, tenants in arrears owe a below-average 73.5% of rent that has nevertheless risen from last quarter's 71.7%.' Sitting at number five is Limpopo. The average rent in Limpopo is R8 899, R872 more than a year previously. 17.1% of tenants owed rent in Q1, 0.1% more than the previous quarter and still the third lowest in the country. 'However, things have got worse for those already in financial difficulties. The average arrears percentage climbed from 71.8% in the fourth quarter of 2024 to 80.4% in the first quarter of 2025, meaning its tenants now owe the third-highest percentage of rent of any province.' ALSO READ: Warning for South Africans buying homes Mpumalanga, Free State and Eastern Cape According to the Index, Mpumalanga sits in sixth position, with average rent being R8 460, just R91 more than a year earlier. '20.1% of tenants in the province now owe their landlords rent, the second-highest percentage in SA and up from 19.6% last quarter.' The Free State sits in the seventh position, with an average of R7 453, an increase of R526 year-on-year, just enough to overtake Eastern Cape's position. '20.8% of tenants were behind on their rent in Q1, falling from 24.2% last quarter. It is still the highest in the country, but by a lot less than before.' Eastern Cape's average rent is R7 330, up by R309 compared to a year earlier, making it the province with the second-lowest rents in the country. 'The share of tenants in arrears in the Eastern Cape rose to 19.3% from 18.7% the previous quarter for the second-highest quarter-to-quarter increase in SA.' Income and risk The Index also focused on which income brackets are the highest risk. Of applicants earning R80 000 or more, a full 60.6% fall into the minimum risk category, while just 12.2% are classed as high risk. 'Meanwhile, in the lowest income bracket, only 23.0% have the combination of a high credit score and a clean payment history needed to qualify as minimum risk, while 37.0% are considered high risk.' When it comes to age, 20- to 29-year-olds are classified as minimum risk because most of them do not yet have a long credit history that would demonstrate low risk; however, they also have more disposable income left over after debt repayments and rent than any other age group. Meanwhile, 61.3% of individuals aged 60 and above were classified as being at minimum risk. NOW READ: More South Africans buying houses for less than R700k. Here's why
The South African
4 days ago
- Sport
- The South African
Kaizer Chiefs rumours: Salum fee revealed, Maxwell Nzengeli incoming?
Today's Kaizer Chiefs rumour wrap looks at how much Feisal Salum could cost the club. There's also a new striker on the menu. Kaizer Chiefs only need to see off competition from Simba if they want to sign Tanzanian superstar Feisal Salum. Azam FC want R9 million for their star midfielder. Click for the story It's not the first time Kaizer Chiefs have scouted a Congolese striker. Fans will remember that things didn't pan out so well for Christian Saile. Maxwell Nzengeli played six times in the Champions League last season but failed to trouble the scorers, so he's hardly set the world alight. As ever, there is pressure on the Chiefs board to make a big splash this window. Nzengeli has five caps and one goal for DR Congo. Click for the story Kaizer Chiefs sporting director Kaizer Motaung Jr is working on several deals, including Maxwell Nzengeli. Image: Gavin Barker/BackpagePix Is Feisal Salum worth all of the hype? Let us know by leaving a comment below or sending a WhatsApp to 060 011 0211. Also, subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
