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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... 

Guptas sell Tegeta to Swiss owner

By: News24Wire      23rd August 2017 Gupta-owned Oakbay Investments has sold Tegeta Exploration and Resources to Swiss-based Charles King SA for R2.97-billion, it announced on Wednesday. This is the second sale announced by the Guptas this week. They announced on Monday that Oakbay would sell its media assets, broadcaster ANN7 and... 

Guptas sell ANN7 and The New Age to Mzwanele Manyi  

By: News24Wire      21st August 2017 A firm owned by Mzwanele Manyi has bought Gupta-owned media units ANN7 and The New Age, it was announced on Monday. Gupta-owned Oakbay Investments said in a statement that Manyi-owned Lodidox bought ANN7 (Infinity Media) for R300-million and The New Age (TNA Media) for R150-million. 

If Koko returns, it won’t be as acting CEO, Brown avers, as she unveils interim board

By: Terence Creamer     23rd June 2017 Public Enterprises Minister Lynne Brown has called on the new interim leadership of embattled power utility Eskom to give priority attention to addressing the management of contracts, conflicts of interest and the quality of coal being supplied to its power stations. Speaking following the Eskom... 

Dladla appointed acting Eskom CEO ahead of closely watched AGM 

By: Terence Creamer     22nd June 2017 The board at State-owned power utility Eskom announced on Thursday that Johnny Dladla had been appointed acting group CEO with immediate effect. The position of CEO and acting CEO has been vacant since late May, when a decision was made to rescind the highly controversial reappointment of Brian... 

Guptas list why Gordhan's application is fundamentally flawed

By: News24Wire      18th October 2016 The Guptas said Finance Minister Pravin Gordhan’s court application is fundamentally flawed and will assist them in clearing their name, their lawyer said in a statement on Tuesday. “We are delighted to have received this application,” the Guptas’ lawyer Van Der Merwe Associates said on behalf of... 

Gupta report to be ready before Madonsela says final goodbye 

By: News24Wire      15th September 2016 A report on the Gupta family will be ready before outgoing Public Protector Thuli Madonsela finishes her term, she said on Wednesday. Speaking at the Rhema Bible Church's Truth Be Told conference, Madonsela told journalists that while she could not guarantee a comprehensive one she would have... 

Shares in Guptas' Oakbay Resources recover after 10% dive

By: News24Wire      29th August 2016 Shares in Oakbay Resources & Energy fell more than 10% on Monday after the Gupta family, which controls the firm's holding company, said at the weekend they will sell their South African businesses. Oakbay Resources was down 10.02% at R18.85 before recovering to R20.95 by 14:16.The scandal-hit... 

Gupta-owned company shares dive 91% as websites downed by hackers 

By: News24Wire      15th June 2016 Gupta-owned Oakbay Resources and Energy’s share price plummeted by over 90% on the JSE on Wednesday, the same day that hackers attacked the company’s websites and shut them down. The JSE-listed company was trading R20.86 lower at R2.14, with only 30 shares trading. The company, with a market cap... 

Oakbay workers march to South African banks to ‘save’ their jobs

By: African News Agency      26th April 2016 Hundreds of workers from Gupta family-owned Oakbay Investments will on Tuesday march to the banks in an effort to save their jobs. The operations of Oakbay were thrown into jeaopardy after South Africa’s four main banks closed accounts of businesses owned by the controversial family. 

Jonas warns State capture will derail national democratic revolution

By: African News Agency      22nd April 2016 Deputy Finance Minister Mcebisi Jonas has warned of the nefarious impact patronage networks could have on the South African state in an article penned for the weekly South African Communist Party newsletter Umsebenzi. Jonas begins the article by stating debates on state capture tend to be about... 

Gupta saga shows corporate governance working in South Africa

By: News24Wire      11th April 2016 The positive spin from the Gupta saga is that corporate governance in South Africa is working as it indeed should - and that is worth a great deal for the future. This is according to Rhodes University Professor Matthew Lester, a member of the Davis Tax Committee, who reacted to financial... 

FNB cancels Guptas’ Oakbay Investment business accounts

By: African News Agency      6th April 2016 Oakbay Resources and Energy on Wednesday confirmed that First National Bank (FNB) had become the second bank to cancel its business accounts after Absa had cut ties with the firm earlier this week. This was the latest in a series of backlashes by corporate South Africa against Oakbay Resources... 

KPMG cuts ties with Gupta business empire

By: News24Wire      1st April 2016 KPMG has terminated its business relationship with the Gupta business empire due to the political storm surrounding the family's friendship with President Jacob Zuma. KPMG was the auditor for all Gupta-owned and -controlled businesses and performed a variety of other services for the Guptas, who... 

I did report Gupta 'bullying', says Maseko

By: News24Wire      23rd March 2016 Themba Maseko, the former head of the Government Communication and Information System (GCIS), on Tuesday said that he had told his political seniors that President Jacob Zuma had arranged a meeting for him to "help" the Gupta family. "For the record, I did report the bullying to my political... 

We have confidence in Zuma - ANC 

By: News24Wire      20th March 2016 The ANC national executive committee on Sunday reaffirmed that it had confidence in President Jacob Zuma, despite allegations that the politically connected Gupta family were influencing Cabinet appointments. This follows a difficult week where allegations surfaced that the family, said to be... 

Gupta-owned media reports of plot to overthrow Zuma

By: African News Agency      17th March 2016 The New Age newspaper and ANN7 news channel, both owned by the Gupta family, on Thursday reported that a plot within the ranks of the African National Congress (ANC) to oust President Jacob Zuma had been revealed. They reported that an ANC faction was using ruling party deputy secretary general... 

Tegeta-Optimum merger approved with condition

By: News24Wire      23rd February 2016 The Competition Tribunal on Monday approved the controversial merger between the Tegeta Exploration and Resources, whose shareholders include President Jacob Zuma’s son and the Gupta family, and Optimum Coal Mine. Tegeta agreed to buy Optimum for R2.15bn in December 2015 after Glencore had placed... 

Molefe on Eskom coal deals probe: We have nothing to hide

By: News24Wire      22nd February 2016 Eskom CEO Brian Molefe said while he was surprised with Treasury’s investigation of its coal supply contracts, the power utility will cooperate, he said on Monday. “The alleged mooted investigation on the coal contracts comes as a surprise to Eskom because the company is still waiting for a final... 

Guptas get interdict against EFF

By: News24Wire      10th February 2016 The Gupta brothers on Tuesday obtained an urgent interdict to stop the EFF from threatening them. Judge Johan Louw granted an order in the High Court in Pretoria, interdicting the party, its leader Julius Malema and its Gauteng spokesperson Ntobeng Ntobeng from making threats of violence against... 

Gupta's face off with EFF in court

By: News24Wire      9th February 2016 The Gupta family and the Economic Freedom Fighters (EFF) are expected to face off North Gauteng High court on Tuesday. The family, via their company Oakbay Investments,  is understood to have filed an urgent application on behalf of their shareholders, businesses and staff to interdict the EFF on... 

Ramaphosa must provide answers on Eskom-Gupta deals – DA 

By: African News Agency      14th September 2015 Media reports on Sunday confirm that parastatal Eskom bent over backwards to ensure that the politically-connected Gupta family were awarded a coal deal worth R4-billion, the Democratic Alliance (DA) said. It was incumbent on Deputy President Cyril Ramaphosa, as head of government’s “war room” on... 

Brown hints to merger of SAA, SAX and Mango 

By: Terence Creamer     7th August 2014 Public Enterprises Minister Lynne Brown hinted on Thursday that she would be in favour of merging South African Airways (SAA), SA Express (SAX) and Mango into a single corporate entity so as to improve competitiveness and streamline corporate governance structures. Speaking at a SABC2-The New Age... 

Brown says decision on Eskom CEO, bailout will be made within weeks 

By: Terence Creamer     7th August 2014 Public Enterprises Minister Lynne Brown says she has made a decision on her preferred candidate for the position of CEO of Eskom and will present the name at the next Cabinet meeting for approval. She indicated that a Cabinet committee would deliberate on the appointment next week and that the... 

Discussion on new immigration legislation continues – Gigaba 

By: Sapa     4th July 2014 Discussion on the new immigration regulations will continue and problems will be tested to prevent negative impacts on the economy, Home Affairs Minister Malusi Gigaba said on Friday. "Our doors are not closed. We are open to further engagement on the consequences. You can never introduce new... 

Wage subsidy not only answer to unemployment – Manamela

By: Sapa     30th June 2014 The youth wage subsidy is not the only remedy for youth unemployment, Deputy Minister of Performance and Monitoring in the Presidency Buti Manamela said on Monday. "The Employment Incentive Bill is not the panacea to resolving youth unemployment," Manamela said at The New Age's breakfast briefing... 

Joemat-Pettersson plans to set up energy brains trust

By: Terence Creamer     24th June 2014 Energy Minister Tina Joemat-Pettersson says she will be inviting members of the public to recommend people who can serve on a ‘Ministerial Advisory Council on Energy’, which she proposes to establish soon. “I have decided that, over and above the Department of Energy expertise, as a Ministry we... 

Municipal infrastructure causes power cuts – Joemat-Pettersson 

By: Sapa     23rd June 2014 Energy Minister Tina Joemat-Pettersson has blamed municipal infrastructure for some of the power cuts in the country. "Power disruptions are not necessarily... [because of] load-shedding, but in some instances are due to municipal infrastructure failures," Joemat-Petterson said at The New Age... 

Bafana’s problems do not lie with its coach

By: Kelvin Kemm     20th June 2014 It has been announced that the contract of national soccer team coach Gordon Igesund will not be renewed after August. To my mind, this is a big mistake and it is not too late to reverse the decision. Igesund should stay. I found the comments of South African Football Association (Safa) president... 

New supplier development body set up to link contract winners with local partners

By: Terence Creamer     9th May 2014 A new business association has been formally launched to link foreign suppliers of equipment to State-owned companies (SoCs) with large and small domestic companies in an effort to improve prospects for higher levels of local content in South Africa’s multibillion-rand infrastructure programme.... 

New supplier development body to stimulate infrastructure localisation

By: Terence Creamer     24th April 2014 A new business association has been formally launched to link foreign suppliers of equipment to State-owned companies (SoCs) with large and small domestic companies in an effort to improve prospects for higher levels of local content in South Africa’s multibillion-rand infrastructure programme.... 

Martins set to make IPP procurement announcements on Monday 

By: Terence Creamer     11th April 2014 Energy Minister Dikobe Ben Martins will on Monday make major announcements related to the much-delayed independent power producer (IPP) procurement processes. But in an unusual move, it appears the announcements will coincide with the Minister’s address to a paid event organised by The New Age... 

Gigaba hints to ‘exciting’ New Largo BEE deal

By: Terence Creamer     3rd February 2014 Public Enterprises Minister Malusi Gigaba says he expects to make an “exciting” announcement in the near future relating to the ownership of the New Largo coal-mine project, which has been earmarked to supply Eskom’s 4 800 MW Kusile power station, under construction in Mpumalanga. Speaking at the... 

E-tolls likely to start by year-end – Peters 

By: Sapa     7th October 2013 E-tolling in Gauteng will most likely be implemented by the end of the year, Transport Minister Dipuo Peters said on Monday. "Last week we finalised the regulations and this week we will be dealing with the tariff structure and starting the process to... publicise the tariff structure," she said... 

Union puts chamber on spot over alleged Lonmin breach

By: Martin Creamer     26th August 2013 The Chamber of Mines was put on the spot on Monday over member-company Lonmin’s alleged breach of Deputy President Kgalema Motlanthe’s framework agreement. The chamber signed the framework agreement for a sustainable mining industry last month on behalf of all of its members. Lonmin is accused... 

Public service gets tough on graft

By: Sapa     12th July 2013 Corruption will not be tolerated in the public service, Public Service and Administration Minister Lindiwe Sisulu said at The New Age business briefing on Friday. Two elements fostered corruption in government procurement processes, she said. 

E.tv, SABC holding up digital migration – Pule

By: Sapa     25th April 2013 E.tv and the SABC are holding up South Africa's migration to Digital Terrestrial Television (DTT), Communications Minister Dina Pule said on Thursday. "The SABC and e.tv have yet to advise us on the set-top-box control system.... this has resulted in the current delays we are facing," she said at... 

Medupi deadline will not change – Gigaba 

By: Sapa     15th March 2013 The December 2013 deadline for the Medupi power station to start delivering power will not change, Public Enterprises Minister Malusi Gigaba said on Friday. "For now, having received the detailed technical plans from the primary contractors in regards to what they must do to meet the December... 

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