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Daily Nisaab Prices

11 December 2019 / 03 Rabi-Ul-Akhir 1440
Nisáb = R5045.85
Silver = R8.24/g (248.56/oz)
Gold = R645.93/g (R17 440.39oz)
Prices & Calculations include VAT

What is the meaning of Nisáb?

Nisáb is a minimum amount of wealth which makes one liable to pay Zakáh. The person who possesses an amount equal to or greater than this specified minimum wealth, which remains in his or her possession for a period of one year is considered wealthy enough to pay the Zakáh.

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Gauteng

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On Thursday, 15 November 2018, SANZAF Gauteng hosted a graduation lunch for its entrepreneurs. The event was hosted in line with the Global Entrepreneurship Week, which takes place from 12-18 November 2018. The event was designed to celebrate the efforts of the entrepreneurs, allow them to connect with each other and to meet the SANZAF team. 32 students (past and current) and 14 staff attended the event, which also served as a graduation for the final cohort of students for the year. 12 students successfully completed the course and will go on to produce and present their personal business plans and ideas at the end of the month.

The keynote address highlighted eight habits for successful entrepreneurs and was delivered by Hoosen Essof. Five students also shared their experiences of the course and the life lessons that their own business ventures have taught them. Quraysha Mehta reminded the students that successful entrepreneurship requires hard work, dedication and trial, and error while Amin reminded his colleagues that “Allah is our first resource, not our last resort” in business, as in life.

Between February and November 2018, 51 students partook in the SANZAF Short Learning Programme in Small Business. 15 students have since started their own businesses, ranging from hair salons, takeaways, home industries, and a perfumery. The programme provides both practical and theoretical training to individuals with a penchant for business. The students attend six weeks of classes, which culminate in a Business Plan Competition where groups of students compete to design and present the best business plan. Students who successfully complete the course are awarded an NQF Level 1 certificate.

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This May marked SANZAF’s (South African National Zakah Fund) fifth annual Adopt-a-granny Campaign. The project aims to allow school students to give back to their communities in a meaningful way. Students identify deserving elderly women in their communities and then treat them to breakfast and a winter-warmth shopping spree.

The project, which appreciates Islam’s concern for the elderly, allows students to learn about this important Islamic value through experience. It is thought that spending quality time with community elders will not only bring joy to the elders but also impact the way in which students view the elderly and their responsibility towards them and humanity as a whole.

Chris Mabunda, a WITS university student and one of 35 student entrepreneurs from around the world was selected to attend the annual Global Entrepreneurship Summer School (GESS) programme in Munich Germany.

Chris was selected after he started a project in 2016 that manufactures eco-friendly bricks and cement from waste materials to assist people living in rural areas to build low cost housing. However, Chris encountered an obstacle of funding to cover his flight to Germany. An individual contacted SANZAF and explained Chris’s situation to which a decision was made to sponsor Chris’s trip to Germany. An ecstatic Chris departed from SANZAF full of smiles and eager to further develop his skills.

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