SA Money Daily | Educor crisis: Staff and students still in the dark as Damelin owner clams up

Chinese SUVs are big in SA - but govt urged to protect local manufacturers

View Online SA Money Daily The biggest business, economic and market news of the day. AHMED AREFF, BUSINESS DEPUTY EDITOR Educor crisis: Staff and students still in the dark as Damelin owner clams up Four months after the Department of Higher Education announced it was deregistering four colleges owned by the private education provider Educor, worried staff and students remain uncertain about their future.   In March, former Higher Education Minister Blade Nzimande said his department had cancelled the registration of Educor-run institutions City Varsity, Damelin, ICESA City Campus, and Lyceum College.   Nzimande criticised Educor's leadership, accusing it of awarding marks based on unmarked exam scripts. The four colleges, which together have around 13 000 students, had become "dysfunctional", he said. For instance, they failed to submit their annual financial statements and tax clearance certificates for the past two years.   The minister said that his department had received numerous complaints about poor teaching quality, lack of student support, and the non-payment or underpayment of staff salaries.   A few weeks after Nzimande's announcement, news broke that Nedbank was seeking to liquidate one of its property arms over millions of rands in unpaid loans. The case is ongoing.    What does it all mean? Read More Sponsored | The Importance of green crypto mining Cryptocurrency mining serves multiple functions and is a significant part of the blockchain sector. It is the process through which most proof-of-work (PoW) blockchains, like Bitcoin (BTC), introduce new coins into circulation and secure the network. Chinese SUVs are big in SA - but govt urged to protect local manufacturers Chinese luxury SUVs from Chery, Great Wall Motors, and BAIC are gaining popularity in South Africa due to their affordability, and have begun to begun traditional car manufacturers for sales. Ramokgopa: Gas master plan needs 'substantive reworking' The draft gas master plan needs reworking, given "major deficits", said Electricity and Energy Minister Kgosientsho Ramokgopa. SA's capital project plans rocketed to almost R800bn in first half of 2024, says Nedbank The Nedbank Capital Expenditure monitor of capital projects shows a significant jump in the announcement of new projects for the first six months of 2024. Renergen shares rocket as helium comes online - but hurdles remain The company share price shot up as the long-awaited helium production came online. Attacq and Hyprop reach R1bn deal to exit malls in Ghana, Nigeria Two of SA's largest shopping centre owners, Hyprop Investments and Attacq, will sell the direct interests they jointly hold in some Nigeria and Ghanian malls in a deal valuing their equity in the properties at just over a R1 billion. Sygnia wins appeal in dispute over its pension savings ad The Advertising Appeals Committee upheld Sygnia's appeal against an earlier ruling by the Advertising Regulatory Board, saying the asset manager's advert was sufficiently clear, substantiated and therefore not in breach of its code.   If you would like to participate in a survey for research through the Gordon Institute of Business Science into how the credibility of news media and the accuracy of the information it publishes can lead to people adopting a new business model for the media industry, please click here.  DOWNLOAD THE NEWS24 APP CONNECT WITH US

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