Homeowners invest in less debt

first_img21 January 2009 In addition, Geldenhuys pointed out that with the stock markets the world over under pressure, investors were looking for certainty. “If your home loan rate is at 14%, putting money into the home loan means you are getting a certain return of 14%,” she said. SAinfo reporter “And that’s a really good return in any economic climate.” Would you like to use this article in your publication or on your website? See: Using SAinfo material Geldenhuys explained that as interest rates dropped over the course of the year, the benefits of sitting on cash would diminish, as the interest being earned would decline. “Overseas it has become on of the most popular investment strategies right now, as money in bank accounts is earning almost no interest.” According to ooba, formerly known as Mortgage SA, the savings from keeping monthly repayments the same are dramatic. For example, the monthly repayment on a 20-year, 1% below prime, R1-million home loan was R12 800 per month, with the interest rate at 14.5%. After the rate cut of half a percent in December last year, the monthly repayment will be R12 440, a drop of R360. If interest rates drop by a further 2% over the course of this year, monthly repayments would be R11 010 a month, a drop of R1 790. If a homeowner keeps his repayment at the original R12 800, savings on interest would reach a massive R687 696, with the term of the home loan being reduced by over seven years. Better return on investment In a statement issued this week, ooba property financing manager Kay Geldenhuys explained that clearing home loan debt was currently a popular strategy among homeowners. “You can ask your bank to keep your repayments at the old level, which means you’ll be overpaying by R360 per month [but] saving over R300 000 in interest over the life of the loan,” Geldenhuys said, adding that the repayment period would also reduced by over two-and-a-half years. Thousands of South African homeowners are opting to overpay on their home loans, and many more are expected to keep their monthly repayments steady even though amounts payable have started to decline with lower interest rates. Huge savings on interest “Lots of South African homeowners are worried about [the] uncertain economic backdrop, nervous about the stock market, and just having too much debt, so they are dumping excess cash into their bonds,” she said. “We’ve also seen that many homeowners have asked their banks to keep their monthly repayments at levels they were before the rate cut, to pay off their home loans quicker.” “While we don’t expect rates to fall as dramatically as they have, in say, the UK or the US, we still see them falling,” she said. “This will further underpin the case for investing in your bond, as returns on cash deposits fall.”last_img read more

The everyday beauty of Soweto

first_imgThis article originally appeared on the frontpage of South Africa Now, a six-pagesupplement to the Washington Postproduced on behalf of Brand South Africa.(Click to enlarge.)South African photographer Jodi Bieber has a special ability to bring out the beauty in the ordinary, even the disfigured.The now-iconic and shocking early August Time magazine cover, featuring the mutilated face of 18-year-old Afghani girl Aisha, was brought to the world through Bieber’s lens. The photographer explains on the Time website that she wanted the portrait to show that Aisha was still beautiful, even though her nose and ears had been cut off at the Taliban’s behest.Bieber does something similar in the photographs in Soweto, her latest book. These are a compassionate but honest look at South Africa’s largest township, bringing out the subtle beauty of everyday life – children in the public swimming pool, a wedding entourage, a motorcycle club, a mother-and-daughter domestic scene powerfully emblematic of the old and new South Africa.These are not the first images that spring to mind when one thinks of Soweto. Yes, it is the birthplace of struggle heroes, the crucible of the 1976 students’ uprising and the scene of late 1980s anti-apartheid violence, but it is also a hub of diversity, culture, music and business, a place where people live normal lives.In her foreword Bieber talks of Sowetans’ friendliness, and her feeling of complete safety working there during the three-month project. But it made her sad, she says, that residents assumed she was a foreigner as the only whites who visit are tourists.Soweto by Jodi Bieber is published by Jacana with the support of the Goethe Institut.Download South Africa Now in PDF format (2.2 MB), or read selected articles online:Powering towards a green economySouth Africa plans to build a massive $21.8-billion, 5 000 MW solar park in its semi-desert Northern Cape province as part of an aggressive push to grow its highly industrialised economy without increasing its carbon footprint.The everyday beauty of SowetoSouth African photographer Jodi Bieber has a special ability to bring out the beauty in the ordinary, even the disfigured. On the cover of Time magazine she made a mutilated Afghani girl look beautiful, and in her latest book Soweto she makes everyday township life shine.Launchpad to a billion consumersBy offering to acquire Massmart for some $4.2-billion, Wal-Mart has joined the parade of global companies looking to South Africa as a springboard into what is increasingly seen as the world’s last great investment frontier.A trek to the start of timeIt will probe the edges of our universe. It will be a virtual time machine, helping scientists explore the origins of galaxies. It’s the Square Kilometre Array, and South Africans are at the heart of its development.Brewing up a global brandMiller Lite. Tastes great. Less filling. And brought to you by world-beating South African company SABMiller.Looking south and east for growthAs the shift in global economic power gains momentum, South Africa’s trade is moving eastwards and southwards in a pattern that both reflects the worldwide trend and helps drive it, writes John Battersby.More than just a celluloid MandelaThere is a special bond between Hollywood actor Morgan Freeman and the man he played in the Clint Eastwood movie Invictus, South African statesman Nelson Mandela.Africa in the new world orderKgalema Motlanthe, South Africa’s deputy president, looks at how African economies’ resilient performance during the global financial crisis points to the continent’s new place in a changing world.Mining history for new solutionsMark Cutifani, CEO of the multinational AngloGold Ashanti mining company, examines why South Africa’s past is key to successfully doing business here in the future.Turning up the media volumeSince 1990, South Africa has been a noisy place. After decades of apartheid censorship, the lifting of restrictions on the media led to a cacophony of debate. For the first time in centuries, everyone could be heard, and it was sometimes deafening, writes Anton Harber.A joule of an energy-efficient carSouth Africa, which builds BMWs and Mercedes Benzes for the US market, is in the thick of the race to deliver a truly practical – and stylish – electric car. Meet the Joule.South Africa: Time to believeThe forgiving philosophy of “ubuntu” helps explain how South Africa managed to transcend its turbulent apartheid past and create a unified democracy, writes Simon Barber.Finding sound real estate investmentSouth Africa’s post-apartheid transformation and new middle class are fuelling demand for affordable homes. For private equity fund International Housing Solutions, that means opportunity.My normal, crazy, mixed-up countrySouth African hit movie White Wedding is now showing in the US to rave reviews. Jann Turner, who directed and jointly wrote and produced the film, writes about the place that inspired it – South Africa.Bring on the braaiAll South Africans love it – including Nobel peace prize-winning Desmond Tutu – and its rich, smoky smell floats over the country every Sunday. Celebrate the braai with our great recipe for making boerewors, traditional South African farmer’s sausage.last_img read more

South African sisters ride for rhinos

first_img10 July 2015Two sisters from Cape Town, Vanessa and Victoria Wiesenmaier, are cycling 6 000km from China to Singapore to save rhinos. They set off in April, and yesterday were speeding along the Mekong.They have called their campaign Buy No Rhino, taken from the Wildaid slogan: “When the buying stops, the killing can too.”“We will be travelling through Vietnam, China and Thailand, the main consumer markets driving the demand for rhino horn,” say the sisters. “Especially in these countries we want to reach the people! Even if we cannot change a whole culture, we will sow a seed of change.”Only with demand reduction will the rhino have a chance of survival, say Vanessa (30) and Victoria (35).Extinction threatThe two African rhino species, the black rhino and the white rhino, are threatened by poaching. If the development of the past years continues it is expected that the rhino will become extinct in the near future. The war against rhino poaching will be won in Asia, not in Africa, they say of their decision to take the fight to the market.The poaching of rhinos has reached a crisis point, they say. Designed to raise awareness of the plight of the rhino, the Buy No Rhino Bike Tour, is taking the sisters through China, Vietnam, Laos, Cambodia, Thailand, Malaysia and, finally, Singapore. Along the way, they are urging consumers to stop buying rhino horn.Vietnam, China and Thailand are the main consumer markets for rhino horn. For their campaign, the Wiesenmaiers are working with Project Rhino KZN, partners of the Kingsley Holgate Foundation, to educate youth in hopes of curbing the demand for rhino horn.In Vietnam, the sisters teamed-up with Operation Game Change, a joint alliance between the governments of the United States and Vietnam aimed at ending wildlife crime, especially rhino horn.Save our rhinosThey give presentations at various stages along the way, promoting discussion on rhino poaching, rhino horn trafficking and how to stop the global urgent issue. They are also rolling out a Rhino Art project at schools and collecting signatures for the World Youth Wildlife Declaration, which will be presented to the Cites 2016 summit in Cape Town.According to the South African Department of Environmental Affairs, the number of rhinos poached in South Africa is spiking, with 1 215 poached in 2014 – up from 1 004 in 2013 and 668 in 2012. Operation Game Change says this is a rise from just 122 rhinos poached five years earlier.The Wiesenmaiers said the poaching of rhinoceroses was gruesome, Voice of America reported. Poachers tranquilised the animal and then cut off the horn. When the rhino woke up it slowly bled to death.In Asia, consumers buy horn products they believe cure everything from cancer to hangovers. At tens of thousands of dollars per kilogram, the horns are a luxury item sometimes given to bosses and officials. “To know that these animals are killed for pure greed and money, for some funny belief that the horn is a status symbol, that’s a tragedy,’ said Victoria.Personal issueSpeaking from the Laos-Vietnam border, she told Voice of America the issue was personal. A friend in South Africa had four of the six rhinos on his reservation slaughtered; he decided to leave the carcasses out so that people could see the results of poaching.“We saw live rhinos before that, so to see this crumbled, dead thing, it was really shocking, it was disgusting.”Vietnam is the biggest consumer of rhino horns in the world, and on their journey, Vanessa and Victoria are targeting schools, where they give a presentation about the harms of the horn trade, hold a discussion and then have students create artwork on the topic.It is hoped the children will be more open-minded and pass on the message to their parents. Vietnamese businessmen, celebrities, and state officials are “the strongest driver of the current rhino poaching crisis”, according to a 2013 report by wildlife group Traffic.South Africa and Vietnam are the key countries involved in the supply and demand sides of the rhino trade, respectively.SAinfo reporterlast_img read more

Dame time: Lillard’s 3 at buzzer ousts Thunder, sends Blazers to 2nd round

first_imgCayetano: Senate, Drilon to be blamed for SEA Games mess Portland Trail Blazers guard Damian Lillard reacts after making the game-winning shot at the buzzer against the Oklahoma City Thunder in Game 5 of an NBA basketball first-round playoff series, Tuesday, April 23, 2019, in Portland, Ore. The Trail Blazers won 118-115. (AP Photo/Craig Mitchelldyer)PORTLAND, Oregon — After Damian Lillard hit his walk-off 3-pointer to send the Trail Blazers along in the playoffs, he waved goodbye to the Thunder bench.“That was the last word,” he afterward. “That was having the last word.”ADVERTISEMENT View comments Russell Westbrook had 29 points, 11 rebounds and 14 assists for his 10th career playoff triple-double and his second of the series. Paul George added 36 points.”Sometimes it’s your turn to go through something, and when you keep fighting, and keep working through it, and stay together… there’s a reward waiting for you.”@Dame_Lillard x #NBAPlayoffs pic.twitter.com/3gT0TeJGlg— NBA (@NBA) April 24, 2019“Very, very disappointing. It’s as simple as that,” George said. “We let this one slip away but it is what it is.”Lillard had 34 points in the first half alone — more than Westbrook and George had combined (32) for the Thunder — but the Blazers had just a 61-60 edge going into the second half.The Thunder led 90-88 going into the final quarter. Westbrook hit a 3-pointer to extend the lead while Lillard took a break on the bench.Oklahoma City went up 105-90 with 7:45 left on Dennis Schroder’s pullup jumper as Portland struggled.Lillard’s 3-pointer pulled the Blazers within 108-103, but Westbrook answered with his own 3. CJ McCollum’s bank shot cut Oklahoma City’s lead to 113-109 with 1:39 left. Maurice Harkless added free throws to get the Blazers within two.McCollum tied it with a jumper with just under a minute left, but George scored on the other end. Lillard’s layup re-tied it then Westbrook missed a layup with 18.3 seconds left to set up Lillard’s epic buzzer beater. SEA Games hosting troubles anger Duterte Finals slot in sight Duterte wants probe of SEA Games mess Private companies step in to help SEA Games hosting LATEST STORIES Sports Related Videospowered by AdSparcRead Next Panelo: Duterte ‘angry’ with SEA Games hosting hassles Lillard finished with a franchise playoff-record 50 points and Portland eliminated Oklahoma City from the postseason in five games with a 118-115 victory on Tuesday night.Damian Lillard (50 PTS) buries the three for the #TissotBuzzerBeater and the @trailblazers advance to the Western Conference Semifinals with the 118-115 Game 5 victory! #ThisIsYourTime #RipCity#NBAPlayoffs pic.twitter.com/cVqLJkHLR4FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logistics— NBA (@NBA) April 24, 2019 Lillard’s long 30-foot 3-pointer pulled Portland within 43-39. George collected his third foul midway through the quarter after scoring 17 points.Another Lillard 3 closed the gap to 52-50 and the Blazers pulled in front 56-55 with 1:42 to go in the half on Seth Curry’s 3-pointer. The Blazers led 61-60 at the break, led by Lillard with 34 points.Kanter, who became Portland’s starter when Jusuf Nurkic broke his leg late in the season, was clearly having trouble with his left shoulder. He came down hard on it late in the half and cried out in pain but he started the second half.Kanter said afterward the original injury happened in the opening quarter and may be a separation. “We’ll see what happens,” he said, his shoulder wrapped.TIP-INSThunder: OKC coach Billy Donovan knew before the game what the Thunder were up against: “You throw everything you have into this game. It’s a matter of a collectively going out there to play to the best of their ability.” … The Tunder swept the Blazers in four games during the regular season.Trail Blazers: Lillard has had 30-plus points 13 times in the postseason. His effort on Tuesday night surpasses his previous playoff high of 40 set against the Warriors in 2016. … Klay Thompson has the playoff record with 11 3-pointers in a game for the Warriors — also against the Thunder — in 2016. … Portland has won 11 straight at home in the regular season and playoffs. …MORAL SUPPORT: The crowd roared in the final minutes when Nurkic was shown on the video scoreboard, cheering from the Blazers’ bench. It was the first time Nurkic had joined the team in the playoffs.“You guys know it, you felt it in the building when they showed him on the big screen,” Blazers coach Terry Stotts said. “The fact that he showed up — no one knew he was going to show up. I honestly think we fed off that. There was a little good karma when he did show up.” With the game tied, Lillard dribbled just inside of halfcourt near the Blazers logo and then pulled up and hit the game-winner at the buzzer from 37-feet. After his wave, Lillard was mobbed by his teammates and the crowd chanted “MVP! MVP!”Lillard finished 10 3-pointers, second-most ever in an NBA playoff game.“All of those things that we did to give ourselves a chance to win were huge,” Lillard said. “And my part in it, I think, was probably my most important performance.”Portland advances to the Western Conference semifinals to face the winner of the series between the Nuggets and San Antonio. Denver won 108-90 earlier in the night to take a 3-2 lead in that series.It was the 12th straight road playoff loss for the Thunder, who have been eliminated in the opening round for three straight seasons.ADVERTISEMENT MOST READ PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss Hontiveros presses for security audit of national power grid “I don’t care what anybody says that’s a bad shot,” George said about Lillard’s 3. “But he made it and that story will be told, but it was a bad shot. You live with it.”McCollum finished with 17 for the Blazers and Enes Kanter had 13 points and 13 rebounds.Dame. Called. Game. 👋 pic.twitter.com/8Z0skeDbZE— Trail Blazers (@trailblazers) April 24, 2019The Blazers stole one in Oklahoma City, winning 111-98 on Sunday. Westbrook went cold, finishing was 5 of 21 from the field for 14 points. He missed his final 10 shots. Lillard finished with 24, including 15 in the third quarter.Portland was swept in the first round of the playoffs for the past two seasons, last year by New Orleans and the previous year by Golden State.The Blazers last trip to the Western Conference semifinals came in 2016, when they beat the Clippers in the opening round before falling to the Warriors in five games.The Thunder also got knocked out in the opening round for the past two seasons. In 2016, a year after missing the playoffs entirely, they went to the conference finals but lost to Golden State.The Thunder went up 22-12 early, and George made his first six shots from the floor. Oklahoma City held a 37-29 lead at the end of the first quarter, but Lillard led all players with 19 points. McCollum got into foul trouble and headed for the bench. Don’t miss out on the latest news and information. Philippine Arena Interchange inaugurated DA eyes importing ‘galunggong’ anewlast_img read more