Author: Agency
At least four people have appeared in the Randburg Magistrates’ Court on charges of corruption, fraud and money laundering related to the defrauding of Eskom during the height of state capture at the power utility. The four include two former employees of digital technologies company ABB, Mohammed Mooidheen and Vernon Pillay and their wives Raeesa Mooidheen and Aradhna Pillay. According to the National Prosecuting Authority Investigating Directorate (NPA ID) spokesperson, Sindisiwe Seboka, the four allegedly cashed in on “gratifications estimated at R8.6 million…by inflating prices” for ABB subcontractor, Impulse. They were arrested in Durban and Mpumalanga and appeared in the…
The four suspects were expected to appear in the Lenasia Magistrate’s Court on Monday for being in possession of allegedly stolen copper cables valued at R10 million. This followed an intelligence-driven operation executed by the Gauteng Flying Squad, Local Criminal Record Centre (LCRC) from Protea Glen and the Hawks’ Serious Organised Crime Investigation unit in the Westrand on Thursday. Hawks spokesperson Lieutenant Colonel Philani Nkwalase said the joint team rushed to the location when they received information about four suspects offloading copper from one truck and loading it onto another. “On arrival, the police allegedly caught the suspects in the act…
President Cyril Ramaphosa says the Just Energy Transition (JET) Framework will serve as a key evidence-based guide for policy making for South Africa’s transition from a carbon intensive economy towards a greener and cleaner economy. The framework was presented to him by the Presidential Climate Committee (PCC) on Tuesday. “As this Just Transition framework underscores, combating climate change is not only an environmental imperative, but an economic one as well. This framework is an evidence-based document and a victory for evidence-based policymaking. “The publication of this framework must now serve as a call to action to each of us to…
Pension funds will from next year be permitted to invest 45% of their capital in infrastructure projects, the National Treasury has announced. This comes after the Department on Tuesday published the final amendments to Regulation 28 of the Pension Funds Act. Regulation 28, issued in terms of section 36(1)(bB) of the Pension Funds Act, protects retirement fund member savings by limiting the extent to which funds may invest in a particular asset or in particular asset classes, and prevents excessive concentration risk. The Treasury said the regulations widen the scope of potential investments for retirement funds but continues to leave…
Both the heads of National Prosecuting Authority (NPA) and Directorate for Priority Crime Investigation (the Hawks) have vowed to work together to ensure that the architects and foot soldiers of State Capture are brought to book and face the full might of the law. This is according to a joint statement by the two bodies in the wake of the release of the final tranche of the State Capture Commission report by Chief Justice Raymond Zondo. “The final Zondo report provides additional impetus for increased cooperation and urgency in execution of respective NPA/DPCI mandates. Important progress has already been made:…
The Special Tribunal has ruled that a R103 million Gauteng Health Department personal protective equipment (PPE) tender awarded to Zakheni Strategic Supplies is unlawful and invalid. The Special Investigating Unit (SIU) successfully applied to the tribunal to have the tender set aside following investigations into how it was awarded. In her judgment, tribunal President Judge Lebogang Modiba ordered the company to pay back any profits derived from the tender. “The irregular manner in which the contract was awarded constitutes a material infraction to the constitutional values of fairness, transparency, equity, effectiveness and cost effectiveness. Therefore, it is just and equitable…
The World Bank has approved a €454.4 million (R7.6 billion) loan to South Africa for the country’s COVID-19 Emergency Response Project. Approved by the Bank’s Group Board of Executive Directors on Monday, the loan comes following a request by the Government of South Africa for assistance in financing vaccine procurement contracts. In a joint statement by the World Bank and the National Treasury, the entities said, specifically, this project will retroactively finance the procurement of 47 million COVID-19 vaccine doses by the GoSA. They said: “South Africa is the epicentre of the COVID-19 pandemic in Africa, with the highest cumulative…
The Office of the Chief Justice (OCJ) says it is investigating a R225 million tender that was allegedly riddled with irregularities. This after weekend media reports revealed that three former employees of the OCJ, who were privy to the set-up of the tender, recently resigned from the OCJ in order to allegedly illegally benefit from the tender. “As stated to the Sunday Times, the OCJ is currently in the process of gathering all relevant information relating to the matter and is taking legal advice. At the appropriate time, the OCJ will inform the public on the matter. We can assure…
President Cyril Ramaphosa says government is ramping up efforts to address unemployment, specifically related to the youth. He was addressing the nation through his weekly newsletter. Last week, Statistics South Africa revealed that at least 66.5% of youth are unemployed, despite an increase of some 370 000 new jobs created during the past quarter. The President acknowledged that as the country gears up to commemorate Youth Day honouring the young school children who stood up against the apartheid regime in 1976, the current generation faces challenges of their own. “Today, the youth of South Africa confront new struggles in their quest…