Author: Agency

President Cyril Ramaphosa has called on black business and black industrialists to be part of efforts to rebuild the country’s economy. President Ramaphosa made the call at the Black Business Council (BBC) gala dinner held at Kempton Park in Johannesburg on Tuesday night. He warned that without investment there can be no jobs, and without job creation on a large scale “our prospects for achieving full economic transformation are diminished”. “By strategically investing in the economy we are laying the groundwork for prosperity, connectivity, and opportunity across our nation. Green industrialisation is an area of opportunity for black business,” President…

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Finance Minister Enoch Godongwana has invited public comments and written submissions on draft amendments to the Money Laundering and Terrorist Financing Control Regulations. “The draft amendments aim to strengthen South Africa’s system to combat money laundering and terrorist financing by enhancing the reporting of the conveyance of cash or bearer negotiable instruments into or out of the Republic,” National Treasury said on Tuesday. The invitation for comments was published on 8 April 2024 via Gazette Notice 50450 no 4712. The draft amendments are in terms of section 77(5)(a) of the Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001…

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Lizette Marielle Steyn, 56, has been sentenced to at least 12 years imprisonment after being found guilty of 85 counts of theft. The former Finance and Administration Manager of AgriCAD was sentenced in the Pretoria Specialised Commercial Crimes Court. National Prosecuting Authority spokesperson Lumka Mahanjana explained that Steyn was arrested in July last year. “Steyn was employed by AgriCAD [and her] responsibilities, amongst others, were to load the creditors for payment on the business bank account monthly and do the day-to-day bookkeeping and accounting. As such Steyn had full access to the AgriCAD ABSA bank accounts. “During her employment, Steyn…

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The luxury home and two vehicles belonging to former Eskom official, Duduzile Moyo, and her husband Mmoloki, are set to be auctioned off to recover losses suffered by Eskom after she allegedly received kickbacks from a supplier amounting to at least R24 million. The Special Investigating Unit (SIU), through the Asset Forfeiture Unit, obtained a forfeiture order for the assets in the Pretoria High Court. According to the SIU, the order is in addition to a preservation order to freeze Moyo’s pension benefits after she resigned at Eskom. “She had allegedly received almost R25 million from an Eskom vendor, Tamukelo…

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The Asset Forfeiture Unit (AFU) has secured a R43 million preservation order emanating from a case of fraud and theft opened by the Democratic Republic of Congo (DRC) Embassy against that country’s former Defence Attaché to South Africa, Brigadier Ngoy Timothee Makwamba. The order was handed down in the Pretoria High Court and is to preserve four properties and two bank accounts. According to the National Prosecuting Authority spokesperson, Lumka Mahanjana, one of Makwamba’s duties as the defence attaché was to purchase weapons from South Africa’s state-owned defence, security and related technology company, Denel. “The DRC embassy then made a…

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President Cyril Ramaphosa is expected to officially open the Newlyn PX Terminal and the Tetra Pak Manufacturing plant in KwaZulu-Natal on Thursday as part of South Africa’s investment drive. These entities made pledges through the South African Investment Conference, an initiative led by President Ramaphosa with the ambitious goal of attracting R1.2 trillion in investments over five years. “The multi modal rail terminal in Bayhead next to the port of Durban pledged R2 billion for the development of the largest multi modal rail terminal in Africa and has completed the last phase of the development exceeding the initial pledge by…

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Home Affairs Minister Dr Aaron Motsoaledi has clarified allegations that his department is “chasing away tourists from South Africa” following an internal circular that was issued by the department on 21 December 2023. Briefing media on Sunday in Pretoria, Motsoaledi explained that the circular was directed to the Commissioner of the Border Management Authority (BMA), as well as managers of ports of entry. The circular was also sent to Provincial Inspectorate and Visa Facilitation Centres. Motsoaledi said the circular was meant to guide BMA officials at the ports of entry on what to do when they encounter nationals of other…

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The Social Relief of Distress (SRD) grant – popularly known as the R350 grant – is expected to be raised to R370 from April this year. This was announced by Finance Minister Enoch Godongwana in the National Assembly on Wednesday. “His Excellency, the President, in his State of the Nation Address, said that the [SRD grant] is going to continue, and the R350 will be improved. My colleague, the Minister of Social Development, is going to publish for comments a comprehensive social security programme and that… will define a better platform and a future for the social security net in…

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President Cyril Ramaphosa says there is great potential to unlock economic opportunities through investment-led trade initiatives aimed at increasing the trade of value-added products between South Africa and Ghana. “We need to move beyond trade in commodities and on to the purchase of job creating agricultural goods, and advanced manufactured and value-added products,” President Ramaphosa said. Addressing the SA-Ghana Business Forum held at the Gallagher Convention Centre in Midrand on Tuesday, President Ramaphosa said South Africa and Ghana share a long and rich history defined by the struggle for freedom. “This history provides a firm foundation to forge closer economic…

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The Mpumalanga provincial government has introduced coding and robotics in 128 schools, as part of its pilot programme. “That pilot is progressing well and 128 schools, from Grade R to 3 and Grade 7, are currently doing coding and robotics,” Mpumalanga Premier Refilwe Mtshweni-Tsipane said on Friday when delivering the State of the Province Address (SOPA). Since 2022, in its quest to improve learner performance, the provincial government is providing all Grade 12 learners and teachers in Quantile 1 to 3 schools with tablets and laptops respectively. These devices, the Premier said, are loaded with e-content and will be provided…

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