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Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts
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E Toll Bill Officially Signed

President Jacob Zuma has insulted South Africans today by signing the Transport Laws and Related Matters Amendment Bill (e-tolls Bill) into law on the very day e-tolling is before the Supreme Court of Appeal (SCA).
The President has had the Bill under revision since May 2013 and could have waited for the SCA's ruling on the matter. His signing of the Bill into law is therefore premature and disrespectful of the judicial process.
It must be viewed as nothing more than a clear message to the country that he does not care about the wishes of the people of Gauteng.
Indeed, he has not only given support to a policy that faces widespread opposition, but one that will hit the poorest the hardest by increasing the price of doing business, resulting in food price increases and inevitably will undermine economic growth and job creation.
It is now up to the Minister of Transport, Dipuo Peters, to decide whether she will Gazette the Bill and related regulations into operation, or whether she will listen to the will of the people of Gauteng.
If she Gazette the Bill and regulations, the DA will use every means at its disposal to fight against e-tolling. This is not the end. We have successfully stopped e-tolling where we govern, and can do so again elsewhere.
Source : allafrica.com
Tags : finance, e toll, bill, president, south africa

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e-toll 2009 survey amazing results

A survey conducted by South African National Roads Agency (Sanral) in 2009 revealed that as many as 48% of people in Gauteng would not be willing to pay for an open road tolling system.

This according to documents provided by the Democratic Alliance (DA) on Monday (2 September), which showed that a question was posed to gauge public acceptance of e-tolling as part of Sanral’s initial market research.

“I can reveal today that Sanral knew from as early as 2009 that they are facing widespread opposition against e-tolling on Gauteng freeways,” said Mmusi Maimane, DA Premier candidate for Gauteng.

Survey
The question on the document asked: “The envisaged tolls for Gauteng Freeways will be automated, there will be no toll stations. Payment will be collected automatically. If there were two extra lanes on the freeways you normally travel on, saving you time, would you be prepared to pay a toll?”

Sanral’s April 2009 documentation indicated that 69% of people were willing to pay a toll fee, while 39% of people were not willing to pay toll fees.

However, in an addendum (as part of the contract information) in June 2009, the results were amended indicating that 48% of people would not be willing to pay for e-tolls.

“Though the question in itself raises serious concerns on how it was formulated to lead respondents to a positive outcome – baselessly claiming that more lanes will equal less time travelled – the results are nonetheless revealing,” Maimane said.

“Electronic Toll Collection (ETC) and Sanral both agree that one of the critical success factors for the project as a whole include the high levels of public compliance,” the DA said.

It said that the ETC in its contract submission stated that this opposition expressed in the market research presented a huge communication and marketing challenge to shift attitudes and behaviour of a significantly large group into acceptance, or at least compliance.

“Should such a sizable group actively resist compliance, law enforcement will be serious hampered and could become virtually impossible to implement. Sizable active resistance could jeopardise the project as a whole,” the DA cited the ETC as saying.

The political party said that the ETC’s submission also identified the risk that a culture of non-payment could materialise based on past practical experiences with “grudge buys” – purchasing a right of passage instead of a tangible benefit.

Source : http://businesstech.co.za
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e toll gazette discussion gets attention

E toll gate

PUBLIC consultations on gazetted terms and tariffs for Gauteng’s freeway e-tolling continued on Wednesday in Pretoria, attended by more people than the meeting held in Kempton Park the day before but with similar contempt displayed for the controversial system.

Lobby group Opposition to Urban Tolling Alliance (Outa) said a lack of advertising was to blame for the "dismal" turnout of roughly 50 people in Kempton Park on Tuesday.

Wayne Duvenage, head of Outa, said the consultation sessions were poorly advertised. They were merely a case of the South African National Roads Agency (Sanral) "ticking a box", and the authorities had already made up their minds about implementing the system, he said.

Mr Duvenage said about 300 people attended Wednesday’s consultation in Pretoria. "Clearly the vast majority of people are angry and frustrated with the e-toll decision," he said. "They do not trust the authorities."

He added, however, that it was still important for members of the public to participate "so that authorities can see and feel the views of the people".

"They (the authorities) will have to report on this. We have seen how people feel and we must use these rare opportunities of engagement," he said.

At Wednesday’s consultation at the Council for Scientific and Industrial Research in Pretoria, Yusuf Abramjee, head of news and current affairs at Primedia Broadcasting, spoke in his personal capacity as a resident of the city. He said alternative toll-free routes, including the R55, were not yet adequate substitutes for toll roads.

"We are aware that a section the R55 has been worked on but the 12km is a very small chunk of the road," he said.

At the Pretoria consultation, residents also expressed concern about cloned number plates and possible errors in Sanral’s data capturing systems.

But Sanral project manager Alex van Niekerk said e-tags could not be cloned and Sanral’s verification systems used the tags as well as number plates to identify vehicles.

Cosatu to announce date for mass action

Patrick Craven, spokesman for the Congress of South African Trade Unions (Cosatu), said on Tuesday that the federation was angry that the content of the consultations was restricted, showing that the sessions were "a formality".

"I spoke to Outa and they confirmed what was in the news reports," he said. "It appears there was no real consultation. It seemed to restrict the consultation to the level of tariffs and not the principle of e-tolling. It appears the objection will have to move to mass action."

Mr Craven said Cosatu would soon announce a date for mass action against e-tolling.

A third public consultation will take place on Thursday at the Focus Rooms conference venue in Sunninghill, Sandton.

Neil Campbell, Democratic Alliance spokesman for roads and transport, said on Tuesday the venues for consultation were too far from townships such as Vosloorus and Mamelodi, where many residents used the freeways to get to work.

"The whole issue is that the urban people may pay but they can afford to," he said. "Some people from previously disadvantaged areas have no choice but to get on a highway to work. These people are not accommodated."

Mr Campbell also said many small-scale entrepreneurs made a living using their vehicles in Gauteng, but they were not accommodated in the gazetted proposals.

"They are discussing exempting taxis, but we are aware of many cases where businesses have to get around in bakkies and sell their services via a bakkie. These are not accommodated," he said.

Source :bdlive.co.za
Tags : finance,etoll, e-toll, e toll , etoll gazatte, etoll tarrifs, cosatu,sanral, outa


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Status of SA Economy

The South African economy has recently taken a major blow due to a much-reported epidemic of labour disputes in the mining industry. Approximately 50,000 mine workers have gone on strike across companies, with violent clashes leading to injuries and deaths, as well as billions of dollars in lost production. The visible financial impact has been seen in the destabilisation of the rand and the downgrading of the national credit rating.

Behind all the drama on the international market stage is a story newspapers largely neglected: the unsustainable working conditions and mismanagement of South Africa's labour relations in the mining industry. The industry has been the backbone of South Africa's economy since the late 1800s - the country is a global leader in the production of precious metals including gold and platinum, and also holds third place in global coal production..

International investor perceptions of the South African precious metals market have, however, been damaged in recent months. The South African Reserve Bank declared mid-August that debt markets have become "vulnerable to domestic socio-economic concerns which garnered renewed foreign investor concerns following labour unrest." The rand is now underperforming in comparison to other currencies in many emerging market economies, with a 6.8 percent drop against the dollar in October 2012.
Consumer confidence in the South African metals market is waning. High unemployment, bank debt problems, and slowing growth will contribute to a divestment trend in the global market. If these indicators continue to head in their present trajectory, South African banks will have difficulty financing economic development.

South Africa's mines employ about 500,000 workers. As with mining anywhere around the world, working conditions are very harsh. Environmental hazards and accidents present a real life threat to the men and women who work on site and underground, although fatalities have declined thanks to improving safety methods.

Given the profitability of precious metals compared to the severity of working conditions and physically demanding nature of underground drilling, it is of no surprise that workers would seek to improve their pay. Such widespread outrage among mine workers across so many companies is not a coincidence - it is the outcome of systematic errors and poor communication from company leaders, combined with market pressures to keep profits up and costs down.

Source: allAfrica.com
Tags : finance, economy, sa economy, south africa economy, mining south africa, strikes south africa
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