Latest news with #backlog
Zawya
2 days ago
- Business
- Zawya
Egypt: Orascom Construction's backlog expected to hit $8bln in 2025-2029: HC Brokerage
Arab Finance: Orascom Construction's backlog is expected to hit $8 billion over the period from 2025 to 2029, with average annual new awards of $4.16 billion, HC Brokerage highlighted in a recent report. HC Brokerage released an update note on Egypt's construction sector, highlighting that Orascom Construction's adjusted margins improvement is expected to be sustained. Nesrine Mamdouh, Industrials Analyst at HC, projected that the company's earnings before interest, taxes, depreciation and amortization (EBITDA) would grow at a compound annual growth rate (CAGR) of nearly 11% during 2025–2029. Additionally, improved project execution is expected to lead a revenue CAGR of nearly 5.4% over the four-year period. Mamdouh noted: 'We also see ORAS's broad-based adjusted margins improvement to be sustained, driven by high-quality projects, better contract terms, higher FX and FX-equivalent exposure, improved cash flow and working capital management, a positive bottom-line contribution from its existing pool of concessions, reaching $15 million by 2027, and enhanced contribution from Besix.' 'We forecast ORAS consolidated EBITDA and net income to grow at a 2025–29 CAGR of c11% and c6%, respectively. We also estimate EBITDA margin to average c5.9% and net profit margin to average c3.5%, excluding FX gains and losses, over 2025–29,' she added. The analyst expected Egypt's construction spending to normalize, backed by a sharp moderation in public investment, equivalent to 36% of total investments during the first half (H1) of 2024/25. This marks a 22 bps drop from its three-year historical average. 'Nevertheless, we anticipate a baseline level of government investments to persist, particularly in strategic infrastructure projects and projects nearing completion in the transportation, water, and electricity interconnection sectors,' Mamdouh explained. She affirmed: 'We remain positive on the outlook of local and foreign private investments in Egypt, particularly in mega-scale, renewable energy, and industrial projects.' As for Ras El Hekma, the official noted that the development group is well-positioned to secure decent awards, with more clarity after Modon Holding finalizes the project's general master plan. 'We also expect improved collections for ORAS from its Egypt backlog by FY25/26, led by an improvement in the government's revenue-to-GDP ratio while containing expenditure-to-GDP, as per the International Monetary Fund's (IMF) April 2025 projections.' © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
The Independent
4 days ago
- Automotive
- The Independent
Staggering number of motorists now waiting to take their driving test
New figures show Britain's driving test backlog has surged to more than 630,000. According to the Driver and Vehicle Standards Agency (DVSA), 631,472 practical driving tests were booked as of the end of May, a significant increase from 527,368 a year prior. Learners are only permitted to book one test at a time. Despite the rising demand, the number of tests conducted between January and May fell by 14 per cent compared to the same period last year. There were 757,867 tests taken, down from 877,387. The DVSA had temporarily deployed eligible staff from other roles to act as examiners between October 2023 and March 2024, resulting in a higher number of tests taken during that period. Learners appear to be heeding calls to wait until they are confident they can pass before taking a test. May's pass rate matched the figure for April at 50.2 per cent, up from 48.9 per cent in May 2024 and the highest monthly figure since August 2021 (50.3 per cent). The DVSA previously attributed the backlog to 'an increase in demand and a change in customers' booking behaviour'. Transport Secretary Heidi Alexander said in April that the Labour Government 'inherited an enormous backlog' but was 'acting fast' to tackle the issue, with at least 10,000 extra tests to be available each month. She told the Commons' Transport Select Committee her department aimed to reduce the average waiting time for driving tests in Britain to seven weeks by summer 2026. Analysis by the AA Driving School showed the average waiting time was 20 weeks in February. The Government last month launched a consultation on amending the driving test booking system, in an attempt to stop bots mass-booking new slots so they can be resold on the black market for inflated prices. This will be conducted over eight weeks instead of the usual 12 to enable changes to be made sooner. Other measures in response to the backlog include instructing the DVSA to offer additional overtime payments to incentivise instructors to conduct more tests. Staff at the agency qualified to conduct tests are being asked to voluntarily return to the front line, while the number of permanent trainers for new examiners is being doubled. Steve Gooding, director of motoring research charity the RAC Foundation, said: 'While congratulations are due to those candidates who passed their driving test and helped nudge the overall pass rate over 50 per cent, there's little cause for celebration for applicants anxious to book a test slot anytime soon. 'We're not even at midsummer, yet learner drivers are already competing for test slots in November. 'We can only hope that the package of measures the Government announced will start to bite soon, alongside a sustained improvement in the pass rate as candidates make the most of the delays to ensure they are match-fit when their test day arrives.' A DVSA spokesperson said: 'We know that many learners are still struggling to book driving tests, and we're working tirelessly to reduce waiting times and help more people get on the road. 'Despite this, there are currently over 630,000 learners who have a future test date secured – which is the highest number of test slots that we've ever seen booked. 'As we continue to make more tests available, the number of learners with a slot booked will continue to rise, providing more people with the opportunity to continue their learning journey.'
News24
4 days ago
- Politics
- News24
Home affairs has left a quarter of a million people waiting years for birth certificates
At least a quarter of a million people have been waiting years for their applications for late birth registration to be processed. And this is a conservative estimate, the Children's Institute says in papers filed with the Western Cape High Court. The application seeks to put the Department of Home Affairs (DHA) on terms to take action to tackle the backlog, GroundUp reports. The institute, represented by the Legal Resources Centre, says the department's tardy approach to this issue, which affects fundamental rights of children and their parents and caregivers, must be declared unconstitutional. It wants the court to order that the DHA develop a clear and comprehensive plan to tackle the backlog and prevent future backlogs. The court papers are full of personal stories of how some people are left waiting for up to seven years to have their applications decided, and how it affects them. One, the mother of a now 15-year-old, described how she grew up without a birth certificate and was constantly threatened that she would not be allowed to write matric. Now her son is having the same experience, though she applied for his birth certificate when he was 8. A keen soccer player, he could no longer participate in tournaments and had a recent brush with the law. Parents of a 13-year-old girl said she had been 'expelled' from school twice because she had no birth certificate. She was eventually accepted at a school far from home, where she felt ostracised. Generally, without birth certificates, children cannot get identity documents. And without proof of identity, it is very difficult to access the schooling system. They cannot operate within the formal economy and battle to access social grants. 'They find themselves pushed further and further to the fringes of society,' legal researcher Mbonisi Nyathi says in his affidavit. Since launching the application on behalf of 15 affected clients, the DHA has taken action to resolve these particular cases. In a 'briefing note', senior researcher Paula Proudlock says the 15 caregivers involved in the case are primarily mothers, while others are fathers, relatives, foster parents and prospective adoptive parents, who have lodged applications with home affairs for the late registration of their children's births (and, in two instances, for their own births). 'Despite submitting all the necessary documents and complying with the provisions of the Births and Deaths Registration Act and its Regulations, they have been forced to wait for between two and seven years for Home Affairs to decide their applications. Most of them have followed up multiple times over the years, incurring high transport costs, only to be told to go home and wait for a call for an interview,' Proudlock said. Since belatedly becoming aware of the litigation in late May 2025, home affairs had prioritised holding interviews to finalise the applications of the 15 caregivers who are involved in our case. Paula Proudlock 'Concerningly, these interviews have generally focussed on questioning the circumstances which caused the late registration to be necessary and coercing mothers to admit they were negligent, in order for the interview to be short and successful. Ten of the 15 individuals have to date been issued with birth certificates.' In the court application, Nyathi said that while the institute supported the policy that births should ordinarily be registered within 30 days, there were many reasons why it did not happen, so there would always have to be a system to deal with late birth registration. He said some babies were born at home in isolated rural areas, where sometimes cultural practices required mother and child to remain at home for up to three months. Many mothers did not have their own IDs because they were young (between 15 and 21) and either had not applied for an ID or were victims of the LBR system. Without an ID, they could not use the birth registration desk at the hospital or clinic where they had given birth, Nyathi said. He said the late birth registration process was arduous because it involved verifying documents and because of the insistence by DHA on conducting interviews, despite this not being required by law. There was no co-operation between offices in different provinces and applications were being dealt with manually, in paper folders in local offices, making them 'invisible to national office and more susceptible to loss and neglect'. 'A significant contributing factor is the DHA's failure to acknowledge the backlog and the factors within its control that have created it,' Nyathi said. He said while the DHA had promised to address backlogs for temporary and permanent resident permits and unabridged marriage and death certificates, no mention had been made of the late birth application backlog. 'Ultimately this situation is untenable and violates the constitutional rights of hundreds of thousands of children and adults,' Nyathi said. 'Not only does this impact their own lives, but it creates an intergenerational ripple effect, ultimately resulting in their children also remaining unregistered after birth for significant periods of time.' The government respondents, including the home affairs minister and director general, have 30 days to file opposing affidavits.
The Independent
4 days ago
- Automotive
- The Independent
The long wait UK learner drivers face to book exams
The UK driving test backlog has increased to over 630,000, according to recent figures from the Driver and Vehicle Standards Agency (DVSA). Despite the rising demand, the number of tests conducted between January and May decreased by 14 per cent compared to the same period last year. The DVSA had temporarily deployed eligible staff from other roles to act as examiners between October 2023 and March 2024, resulting in a higher number of tests taken during that period. The pass rate in May reached 50.2 per cent, the highest monthly figure since August 2021, suggesting learners are waiting until they are more prepared before taking the test. The government is consulting on changes to the driving test booking system to prevent bots from reselling slots at inflated prices, and is implementing measures to increase test availability and reduce waiting times, aiming for an average of seven weeks by summer 2026.
Yahoo
4 days ago
- Automotive
- Yahoo
Driving test backlog hits 630,000
Britain's driving test backlog has reached a new high of more than 630,000. Some 631,472 future practical driving tests were booked as of the end of May, according to Driver and Vehicle Standards Agency (DVSA) figures. That is up from 527,368 a year ago. Learners can only have one test booked at a time. Despite the growing demand, the number of tests conducted during the first five months of this year is 14% lower than the same period in 2024. There were 757,867 tests taken between January and May, down from 877,387 a year earlier. The number of tests taken between October 2023 and March 2024 was higher than normal because the DVSA temporarily deployed all eligible staff from other roles to act as examiners. Learners appear to be heeding calls to wait until they are confident they can pass before taking a test. May's pass rate matched the figure for April at 50.2%, up from 48.9% in May 2024 and the highest monthly figure since August 2021 (50.3%). The DVSA previously attributed the backlog to 'an increase in demand and a change in customers' booking behaviour'. Transport Secretary Heidi Alexander said in April the Labour Government 'inherited an enormous backlog' but was 'acting fast' to tackle the issue, with at least 10,000 extra tests to be available each month. She told the Commons' Transport Select Committee her department aimed to reduce the average waiting time for driving tests in Britain to seven weeks by summer 2026. Analysis by the AA Driving School showed the average waiting time was 20 weeks in February. The Government last month launched a consultation on amending the driving test booking system, in an attempt to stop bots mass-booking new slots so they can be resold on the black market for inflated prices. We're consulting on changes to driving test booking rules. Options include: • Restricting who can book tests • Removing test swaps between learners • Limiting location changes after booking Have your say by 23 July: — Driver & Vehicle Standards Agency (@DVSAgovuk) May 28, 2025 This will be conducted over eight weeks instead of the usual 12 to enable changes to be made sooner. Other measures in response to the backlog include instructing the DVSA to offer additional overtime payments to incentivise instructors to conduct more tests. Staff at the agency qualified to conduct tests are being asked to voluntarily return to the front line, while the number of permanent trainers for new examiners is being doubled. Steve Gooding, director of motoring research charity the RAC Foundation, said: 'While congratulations are due to those candidates who passed their driving test and helped nudge the overall pass rate over 50%, there's little cause for celebration for applicants anxious to book a test slot anytime soon. 'We're not even at midsummer, yet learner drivers are already competing for test slots in November. 'We can only hope that the package of measures the Government announced will start to bite soon, alongside a sustained improvement in the pass rate as candidates make the most of the delays to ensure they are match-fit when their test day arrives.' A DVSA spokesperson said: 'We know that many learners are still struggling to book driving tests, and we're working tirelessly to reduce waiting times and help more people get on the road. 'Despite this, there are currently over 630,000 learners who have a future test date secured – which is the highest number of test slots that we've ever seen booked. 'As we continue to make more tests available, the number of learners with a slot booked will continue to rise, providing more people with the opportunity to continue their learning journey.'
