Finance

 

Zwelithini ‘not paid what he deserves’ as a king – You got to be joking

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IS HE WORTH IT? King Goodwill Zwelithini’s family has grown over the years, and with it the amount the taxpayer continues to fork out to fund it Zulu King Goodwill Zwelithini has lashed out at the provincial government‚ accusing them of failing to pay him what he deserves. The monarch was speaking at a King..
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Energy minister slips up on oil plan

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Minister of Energy Mmamoloko Kubayi is backtracking on the investigation into the sale of the country’s oil reserves, say highly placed sources. But the minister has denied this outright. In May, Kubayi announced in Parliament that she would investigate the controversial sale by the Strategic Fuel Fund (SFF) of 10-million barrels of the country’s fuel..
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EXCLUSIVE: Cash Paymaster Systems made R1-billion profit paying social grants

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Over the past five years Cash Paymaster Systems recorded a pre-tax profit of R1.1-billion from paying social grants on behalf of the government, the outsourced service provider told the Constitutional Court on Tuesday. After tax the net profit came to R705-million, the now infamous American-listed company said. That translates to a profit to shareholders of..
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Scopa to call KPMG to parliament over SARS ‘rogue unit’ retraction

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Parliament’s standing committee on public accounts (Sopa) will call KPMG to appear before parliament to account on its conduct regarding the SA Revenue Service (SARS) ‘rogue unit’ report and the subsequent withdrawal of some parts of this report, it said in a statement on Monday. Scopa’s ANC study group whip Mnyamezeli Booi said: “KPMG must..
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Moyane clings to existence of so-called ‘rogue unit’ despite KPMG confession

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Sars commissioner Tom Moyane has insisted that there is evidence to support the notion of a so-called “rogue unit” in Sars, despite a blow from auditing firm KPMG which withdrew its findings on the unit. Moyane announced in a press briefing on Monday that the South African Revenue Service is now pursuing legal action against..
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Can we believe this: ‘I didn’t conspire with Zuma’ – Mkhwebane

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Public Protector Busisiwe Mkhwebane has denied conspiring with the presidency and State Security Agency‚ saying her office remains independent. In papers filed in the High Court in Pretoria‚ the Reserve Bank accused Mkhwebane of meeting with President Jacob Zuma’s office and the State Security Agency before releasing her report on missing apartheid funds. The report..
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Minister’s Benz: Going… going … gone …. for R10!

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A Mercedes-Benz sedan belonging to Defence and Military Veterans’ Minister Nosiviwe Mapisa-Nqakula was sold for a lousy R10 during an auction in King William’s Town on Thursday morning. This after it was placed under the hammer after Mapisa-Nqakula had failed to settle a R50000 debt to a King William’s Town garage which had worked on..
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Johan Rupert: “Radical economic transformation is just a code word for theft”

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South Africa’s richest man Johann Rupert said “radical economic transformation,” the policy championed by the country’s President Jacob Zuma to reduce racial inequality, is no more than theft. “Radical economic transformation is just a code word for theft,” Rupert said on the sidelines of Richemont’s annual general meeting in Geneva on Wednesday. “That’s what’s happening..
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SAA cash crunch deepens as suppliers have still not been paid

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South African Airways (SAA) appears to have exhausted its available cash reserves following news that suppliers have still not been paid for work done in July. The airline has thirty-day terms with a number of suppliers that provide essential services to it. They had not been paid at the end of last week, a week..
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Payment administrator IntelliMali coughs up the ‘lost’ R818k misappropriated by NSFAS

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Payment administrator IntelliMali has reimbursed Walter Sisulu University (WSU) the full amount misappropriated by NSFAS “student millionaire” Sibongile Mani out of its own pocket. IntelliMali has also roped in the services of a forensic investigator to probe how the R14-million ended up in the account of one student. The company responsible for administering state loans..
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