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The sooner Guptas leave SA, the better – Gordhan

By: News24Wire      20th November 2017 Former finance minister Pravin Gordhan has said the sooner the Guptas get out of South Africa, the better for the country. He was speaking at the Congress of Business and Economics dinner on Saturday, where they were paying tribute to heroes who have created a legacy that will benefit South Africa. 

McKinsey not sure who to refund for Eskom fiasco, partner tells parliamentary probe

By: African News Agency      15th November 2017 Global consultancy firm McKinsey stood ready to repay the money it earned from a flawed Eskom deal but did not know where to direct the R1-billion refund, senior partner Dave Fine told the parliamentary inquiry into allegations of state capture at the power utility. “McKinsey does not want... 

South Africa graft watchdog must meet court deadline – SARB

By: Reuters     14th November 2017 South Africa's anti-graft watchdog must meet a high court deadline in a case about the central bank's mandate to avoid creating market instability, the bank said on Monday. Market stability is politically sensitive in South Africa because ratings agencies downgraded the country's debt in April... 

Why has no-one been punished yet for State capture, asks Gordhan

By: News24Wire      9th November 2017 One of the questions to be asked about the exposure of State capture in South Africa – on the political as well as business front - is why no one has been punished yet, former finance minister Pravin Gordhan said on Thursday. “Lots of names have been exposed and I think Jacques Pauw’s book [The... 

Gordhan says new South African Revenue Service probe may be case of obfuscation

By: African News Agency      8th November 2017 Former finance minister Pravin Gordhan on Tuesday said the inquiry into tax collection and governance at the South African Revenue Service (Sars) announced by his successor Malusi Gigaba risked obfuscating rather than resolving problems at the entity. “It could be a case of delaying dealing with... 

Various State assets being identified for disposal as Gigaba drops deficit and debt bombshells 

By: Terence Creamer     25th October 2017 Finance Minister Malusi Gigaba confirmed the worst in his maiden Medium-Term Budget Policy Statement (MTBPS), revealing serious fiscal slippages amid bail-outs of State-owned companies (SOCs), a worryingly sharp deterioration in revenue collections, a material downward revision to the country’s... 

KPMG ‘rogue unit’ report grossly unfair to former finance minister Gordhan – Ramaphosa

By: African News Agency      20th October 2017 Deputy President Cyril Ramaphosa on Thursday said a report compiled by auditing firm KPMG for the South African Revenue Service into the existence of a “rogue spy unit” was “grossly unfair” to former finance minister Pravin Gordhan. The KPMG report , which insinuated that Gordhan knew of a... 

Businesses must take action to drive inclusive growth in Africa

By: Robyn Wilkinson     20th October 2017 There is a need for a new social narrative that balances generating profits with building social capital to drive inclusive economic growth in Africa, says management consultant IQbusiness CEO Adam Craker.  

KPMG scandal could be the tip of the iceberg 

By: Aubrey Matshiqi     20th October 2017 The KPMG scandal is an example of what happens when accounting meets the profit imperative. It is also an example of what happens when the profit motive, accounting and politics meet. That said, I am happy that members of Parliament's Standing Committee on Public Accounts (Scopa) are not as... 

If Zuma removes me, I’ll accept it – Ramaphosa

By: African News Agency      19th October 2017 I serve at the pleasure of the President, and If I’m fired, it will be at the pleasure of the President, South Africa’s deputy president said on Thursday. Cyril Ramaphosa was asked by opposition party members in the National Assembly to confirm or deny speculation that he was next in line to be... 

It's up to Gigaba to rebuild trust and confidence in mini budget – Coovadia

By: News24Wire      16th October 2017 The motives behind government’s failure to act in the national interest should be questioned as it undermines trust and service delivery in South Africa, Cas Coovadia, managing director of the Banking Association of South Africa (BASA), said on Monday. Coovadia in a statement called on Finance... 

Court declares contract between City of Tshwane, two service providers invalid

By: African News Agency      13th October 2017 The North Gauteng High Court on Friday declared a contract between the City of Tshwane and two service providers PEU Capital Partners and it’s subsidiary TUMS invalid. The court ordered that the R950-million, placed in a special trust account set up for the purchase of PEU’s infrastructure, to be... 

When Cyril wins, he must send Zuma to live in Nkandla – Gordhan 

By: News24Wire      12th October 2017 When Deputy President Cyril Ramaphosa wins December's African National Congress (ANC) elective conference, he must send President Jacob Zuma to live in Nkandla, former finance minister Pravin Gordhan said on Thursday. Gordhan told a conference in Cape Town that his preferred candidate to become... 

Even Stats SA could fall to State capture – Gordhan, Jonas 

By: News24Wire      12th October 2017 Statistics South Africa is not immune to the State capture project, former finance minister Pravin Gordhan and his former deputy Mcebisi Jonas said on Thursday. The warning comes as Statistician-General Pali Lehohla is set to step down in October, after 17 years in charge of Stats SA. 

Brown has received report from Eskom on Trillian

By: African News Agency      4th October 2017 Public Enterprises Minister Lynne Brown on Wednesday told MPs she had received a report from Eskom about its dealings with Trillian and McKinsey which she demanded after it emerged that the power utility had lied to Parliament, but made plain that she will not act against the leadership of... 

BLSA suspends 'corrupt' Eskom and Transnet

By: News24Wire      28th September 2017 Business Leadership South Africa on Thursday booted out State-owned entities Eskom and Transnet for their involvement in corruption and State capture with immediate effect. The announcement comes as BLSA launched its #BusinessBelieves campaign in Cape Town, where it signed a “contract” with South... 

Gordhan: KPMG SA was a 'willing partner in State capture'

By: News24Wire      26th September 2017 Auditing firm KPMG SA was a “willing participant in State capture” and its leadership hasn't fully grasped the magnitude of what they were involved in, according to former finance minister Pravin Gordhan. He was in conversation with radio host Eusebius McKaiser on CapeTalk on Tuesday morning. 

Gordhan, Jonas meet KPMG International on State capture

By: African News Agency      22nd September 2017 Former finance minister Pravin Gordhan and his former deputy Mcebisi Jonas met with a delegation from auditing firm KPMG International on Thursday. The meeting was attended by KPMG International chairperson, John Veihmeyer, as well as newly appointed CEO for KPMG South Africa, Nhlamu Dlomu. 

Good corporate governance key to fighting corruption

By: Anine Kilian     18th September 2017 Poor corporate governance at State-owned enterprises (SoEs) has become endemic, Chartered Secretaries Southern Africa (CSSA) CEO Stephen Sadie said on Monday. He told delegates at the ninth CSSA Premier Corporate Governance conference, in Johannesburg, that good governance at public sector... 

Sars will fight KPMG on numerous fronts – Moyane 

By: African News Agency      18th September 2017 South African Revenue Service (Sars) Commissioner Tom Moyane on Monday announced a set of actions it is considering against KPMG, after the auditing firm withdrew its “rogue spy unit” report. “Sars has been completely taken aback by KPMG’s aberrant and unethical conduct. KPMG unilaterally... 

International auditing body also probing KPMG over Sars report

By: African News Agency      18th September 2017 The Independent Regulatory Board for Auditors (IRBA) said on Monday that it had noted that KPMG had taken steps to enforce accountability relating to its controversial South African Revenue Service (Sars) report, but added that it would continue with its own independent investigation. Last week... 

Gigaba announces MTBPS date, says Treasury will manage government debt

By: African News Agency      11th September 2017 Finance Minister Malusi Gigaba on Monday announced that he would deliver his inaugural Medium-Term Budget Policy Statement (MTBPS) next month on October 25. The MTBPS is a government report providing information on the country’s economic context, fiscal objectives, and spending priorities over a... 

Gordhan to speak out over Treasury IT mismanagement claims

By: News24Wire      31st August 2017 Claims of financial mismanagement of government's Integrated Financial Management System (IFMS) is part of a well-orchestrated campaign by the "Gupta syndicate", according to former finance minister Pravin Gordhan. Gordhan, who is currently out of the country, said he will provide a comprehensive... 

Don't panic, we are not funding SAA – GEPF

By: News24Wire      31st August 2017 The Government Employees Pension Fund (GEPF) assured its members, pensioners and beneficiaries that it has not received any proposal to help fund South African Airways (SAA). GEPF is Africa’s largest pension fund with more than 1.2-million active members from more than 325 government departments,... 

Gordhan calls for urgency on State capture probe as Guptas dump assets

By: News24Wire      23rd August 2017 Pravin Gordhan, former finance minister and current African National Congress MP, asked Parliament on Wednesday to look into the disposal of assets by the Gupta family as part of its inquest into State capture. Although Gordhan did not mention any names, it can be assumed that he was referring to... 

Gordhan declaratory relief application dismissed

By: News24Wire      18th August 2017 A court has ruled that former finance minister Pravin Gordhan's application seeking declaratory relief from having to intervene with the banks has been dismissed. Judge Aubrey Ledwaba read out the order at the North Gauteng High Court on Friday. 

Business supports marches planned for next week

By: Sane Dhlamini     3rd August 2017 Business Leadership South Africa (BLSA) has come out in support of the national action and planned marches around Parliament by various groupings, set to take place next Tuesday between 12:00 and 14:00, amid MPs much-anticipated voting in the motion of no confidence bought against President Jacob... 

South Africans can no longer be 'free riders' of democracy – Gordhan

By: News24Wire      1st August 2017 South African citizens can no longer be "free riders" of democracy and need to actively work to secure State institutions, former finance minister Pravin Gordhan said on Monday evening. He urged South Africans to either become whistleblowers or "find different forms of resistance". "In today’s... 

State capture is about ‘stealing State resources’ – Gordhan  

By: Sane Dhlamini     27th July 2017 Former Finance Minister Pravin Gordhan said on Wednesday that State capture was about “stealing State resources” and that it was a no-go area for him and his former deputy Mcebisi Jonas. Gordhan and Jonas both addressed a seminar organised by the University of Johannesburg, on State capture,... 

I will vote with my conscience – Gordhan  

By: Sashnee Moodley     18th July 2017 Former Finance Minister Pravin Gordhan said on Tuesday that he will be voting with his conscience during a vote of no confidence against President Jacob Zuma on August 8. Speaking to media at the Conference for the Future of South Africa, organised by civil society organisations Save South Africa... 

Civil society unites to combat State capture  

By: Sane Dhlamini     18th July 2017 Representatives from over 130 civil society organisations gathered on Tuesday at the Conference for the Future of South Africa, in Johannesburg, to publicly unite South Africa against corruption, State capture and the abuse of power by President Jacob Zuma’s government. The conference, organised... 

Zuma should step aside – Gordhan

By: News24Wire      18th July 2017 President Jacob Zuma should step aside and allow someone to lead the country and reset the course to fulfil the kind of aspirations that Nelson Mandela and his generation had for South Africa, former finance minister Pravin Gordhan said on Tuesday. Gordhan told talk show host Eusebius McKaiser in... 

National Treasury’s action plan may not be enough – economists

By: Natasha Odendaal     14th July 2017 Industry is not viewing Finance Minister Malusi Gigaba’s new 14-point plan as likely to stimulate the growth South Africa desperately needs. Rather, economists are viewing it as a group of administrative measures that will only move to stabilise the battered economy. Released on Thursday,... 

Treasury must remain independent, says Pandor

By: News24Wire      11th July 2017 Treasury in a democratic country must remain independent, African National Congress (ANC) National Executive Congress (NEC) member Naledi Pandor said on Monday. She appeared to disagree with a proposal made at the ANC’s national policy conference last week, that the budget and resource allocation... 

Treasury appoints Dondo Mogajane as DG

By: African News Agency      8th June 2017 National Treasury has announced Dondo Mogajane as its new director-general (DG) after Cabinet confirmed his appointment on Wednesday. This follows the resignation of respected DG Lungile Fuzile last month. 

New-look procurement rules punted as possible transformation game changer 

By: David Oliveira     26th May 2017 Major reform of the Preferential Procurement Policy Framework Act (PPPFA) regulations, which came into effect last month, has been held up as a key tool in driving radical economic transformation in South Africa by providing greater opportunities for small, medium-sized and microenterprises... 

New-look procurement rules punted as possible transformation game changer

By: David Oliveira     26th May 2017 Major reform of the Preferential Procurement Policy Framework Act (PPPFA) regulations, which came into effect last month, is expected to provide the legislative assistance to drive radical economic transformation in South Africa by providing greater opportunities for small, medium-sized and... 

Denel contradicts Gigaba’s reported stance on VR Laser Asia

By: African News Agency      24th May 2017 Denel on Wednesday contradicted reports that Finance Minister Malusi Gigaba had ordered the State-owned arms manufacturer to dissolve its controversial joint venture with VR Laser Asia, a company linked to the Gupta business empire, and withdraw its litigation against National Treasury for... 

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