Telkom Looking for SA’s Content Creators To Feature On Its New Video Service, TelkomONE

Telkom is looking for fresh local content creators to contribute content to and have it featured on its new video service called TelkomONE -...

Latest Posts

Low-Cost Internet Pilot Project in Soweto Empowers Young People

FibrePoynt, Thabure Towerco and Phuthanang Youth Trust have installed a pilot network in Central Western Jabavu, Soweto. The pilot network offers the high-density township,...

Telkom Unveils Its New FreeMe Share Plans Targeting Data Users

Telkom has launched FreeMe Share Plans, a shared data plan that allows multiple SIMs to share a single data plan. The company said in a...

Dlamini-Zuma Asked To Provide Reasons For Extending Lockdown – or see you in court.

DearSA attorneys Hurter Spies this week sent a letter  to Cooperative Governance and Traditional Affairs Minister Nkosazana Dlamini-Zuma asking her to provide reasons why she...

Paxful Highlights Security and User Education Can Boost Trust in Crypto

In acknowledging Cybersecurity Awareness Month during October this year, leading peer-to-peer (P2P) cryptocurrency marketplace, Paxful, is highlighting the importance of security awareness amongst users...

E-toll clash heats up amid investor, ratings fears

E-toll owner Sanral was on Monday accused of blaming its financial woes and credit rating pressures on opponents of the controversial Gauteng road payment system.

“Sanral’s financial predicament is self-inflicted and they should stop blaming others for a mess which they created,” Wayne Duvenage, chairperson of the Organisation Undoing Tax Abuse (Outa), said in a statement.

Sanral, which is promising to clamp down on non-payers, said e-toll collections of between R80m and R90m for February and March 2016 showed growth in the system.

Outa disagreed with Sanral’s calculations, saying payments “remained low and relatively steady, oscillating between a high of R82m and low of R59m over the seven months from July 2015 to January 2016”.

Duvenage said he expects Sanral’s e-toll compliance levels not to go beyond 30%, “which is a massive failure for any so-called user-pays scheme”.

Sanral said it is crucial payments increase to soothe fears expressed by rating agencies and investors.

Ahead of its meeting with Moody’s in May, Sanral started issuing summonses after an extensive period of communications with vehicle owners who neglected to pay outstanding debts.

“The global ratings agencies and the investment community are also looking towards Sanral and expect from us to demonstrate our commitment to financial responsibility and high standards of corporate governance,” Alex van Niekerk, Sanral’s project manager for the Gauteng Freeway Improvement Project, said in a statement.

While there is one month left of Sanral’s 60% discount dispensation, less than R100m of the R5.9bn ringfenced debt has been collected, according to Outa. “(This) means around 1.5% of the dispensation discount offer has been heeded.”

“Outa doubts if Sanral’s wish for a last minute rush to take up their offer will transpire,” said Duvenage. “No doubt there will be a few takers, as can be expected, following massive a marketing campaign and more coercive tactics that will exude from Sanral’s PR engine throughout April.”

“Sanral cannot run roughshod over the public, with meaningless engagement programmes and excessive collection contracts for an ill-conceived scheme to service the debt of an overpriced freeway upgrade, and expect us the fall for their nonsense,” said Duvenage. – Fin24

 

Latest Posts

Low-Cost Internet Pilot Project in Soweto Empowers Young People

FibrePoynt, Thabure Towerco and Phuthanang Youth Trust have installed a pilot network in Central Western Jabavu, Soweto. The pilot network offers the high-density township,...

Telkom Unveils Its New FreeMe Share Plans Targeting Data Users

Telkom has launched FreeMe Share Plans, a shared data plan that allows multiple SIMs to share a single data plan. The company said in a...

Dlamini-Zuma Asked To Provide Reasons For Extending Lockdown – or see you in court.

DearSA attorneys Hurter Spies this week sent a letter  to Cooperative Governance and Traditional Affairs Minister Nkosazana Dlamini-Zuma asking her to provide reasons why she...

Paxful Highlights Security and User Education Can Boost Trust in Crypto

In acknowledging Cybersecurity Awareness Month during October this year, leading peer-to-peer (P2P) cryptocurrency marketplace, Paxful, is highlighting the importance of security awareness amongst users...

Don't Miss

South African Casino Operators Push For Online Casino Legislation

South African casino operators such as Tsogo Sun and Sun International are quietly pushing the government to pass legislation allowing online casinos to operate...

Cell C Loses Court Bid to Stop ICTU Strike Action

Cell C on Tuesday suffered another blow when the Labour Court in Johannesburg ruled that its application to interdict members of the Information Communications...

Africa’s First Adaptive Learning Online High School Launches

Prestigious, independent school, Bridge House and award-winning EdTech company, Digemy, have joined forces to create ConnectEd - the first Independent Examinations Board (IEB) curriculum...

Mercedes-Benz Gives Its EQC Electric vehicle The 4×4² Treatment

Mercedes-Benz has given its EQC electric vehicle the 4x4² treatment. The EQC 4x4² is an electric car of extremes. Mercedes-Benz wishes to test the...

Nedbank Signs Up 100 000 Customers for its Avo Super App

Avo, launched at the height of the national lockdown, has surpassed the 100 000 customer mark in September 2020 and continues to evolve alongside its...

Stay in touch

To be updated with all the latest news, offers and special announcements.

%d bloggers like this: