Each year the state has lost R1bn because it has not signed a long-term rental framework which offered rentals at lower rates than it currently pays
Each year the state has lost R1bn because it has not signed a long-term rental framework which offered rentals at lower rates than it paysDelta Property Fund CEO Sandile Nomvete. Picture: ROBERT TSHABALALA
“The new leases would be at lower rentals and that would result in savings of approximately R1bn a year. These proposals have been on the table for some time now so government has paid a few billion rands of extra rental by not signing these leases timeously,” he said. Delta, headed by CEO Sandile Nomvete, and which gets around three quarters of its revenue annually from the government, on Monday warned that its dividend payouts would drop sharply in the year to February, because of its struggles with the department.
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