Author: The Bulrushes

Former Transnet boss Brian Molefe and Anoj Singh – the former Transnet CFO – were among the executives arrested on Monday in connection with massive corruption and fraud involving millions of rand. The individuals were arrested by the NPA’s Investigating Directorate assisted by the Hawks. Molefe and Singh – whose arrest was arranged through their lawyers – appeared in the Palm Ridge Specialised Crimes Court, where they said they had not seen the details of the charges against them. However, they denied any wrong doing. Others arrested included acting CFO Garry Pita and ex-group treasurer Phetolo Ramosebudi. Regiments…

Alert South African customs officers at OR Tambo International Airport have intercepted a huge consignment of the illicit drug crystal meth weighing 785 kg with a street value of more than R200 million. The South African Revenue Service (SARS) said the pelleted cargo was destined for Australia. “The consignment which was declared as ‘Multi-Purpose Anti-Slip Mat’ was upon physical inspection, found to have been used to conceal crystal meth weighing 785 kg with the street value of R236 million,” said SARS in a statement Sunday morning. The South African Police Service’s Directorate for Priority Crime Investigations (Hawks) was informed about…

Home-grown developer of world-class financial management systems – Munsoft – partnered with the South African Local Government Association (SALGA) to honour the country’s outstanding women leaders in municipal management and service delivery. Munsoft is a partner to more than 70 municipalities across South Africa, Namibia, and Eswatini, where it provides financial management and internal control systems. Together with SALGA, Munsoft – in Women’s Month – put the spotlight on outstanding women at the forefront of service delivery during an award ceremony on Thursday (25 August 2022). The awards recognise excellence by women leaders in municipal management demonstrated through both service…

Mpumelelo Secondary School in Mpumalanga has enthusiastic schoolchildren who have excelled in the JSE Investment Challenge. Mentored by Teacher Sizwe Mtsweni, the school has won the JSE Investment Challenge several times. Many of the learners at Mpumelelo Secondary School are eager to gain financial skills they believe will improve their future, and give them independence and access to the wider world. School teacher, Sizwe Mtsweni, is determined to see these learners achieve as much as they possibly can. Mpumelelo Secondary School has 500 learners divided into three streams – general, science and commercial. In just three years the number of…

All eyes are on the Union Buildings in Pretoria, where protestors taking part in the much-publicised shutdown on Wednesday are expected to gather. The protest action is being led by the South African Federation of Trade Unions (SAFTU) and Congress for South African Trade Unions (COSATU). SAFTU and COSATU have called for the shutdown to protest against the high unemployment rate and the rising cost of living. The Public Servants Association (PSA), which represents more than 235 000 public-sector employees, has announced that it was in full support of the national shutdown “Growing frustration in the country is mainly ascribed…

Hlayisani Capital, a South Africa-based private equity and venture capital fund manager, has implemented PE Front Office to manage its alternative investment portfolio. PE Front Office is an end-to-end integrated solution for Alternative Investment Management. The software supports capabilities including Deal Flow Management, Investment Management, Portfolio Monitoring, Investor Relations Management, and Fund Administration augmented by CRM, Document Management, Reports & Analytics, Outlook/Gmail Plugins, and Mobile App. “Hlayisani Capital is continuously looking for efficient ways to enhance our processes,” said Rochelle Moodley, Head of Operations at Hlayisani Capital. Hlayisani Capital is now using the PE Front Office platform to streamline its…

Swedish Ambassador to SA Håkan Juholt will this weekend officially open the tech-non-profit organisation Empire Partner Foundation’s first-ever global coding festival, which is seeking scalable healthcare solutions. This follows a recent partnership between Empire Partner Foundation and Sweden-based Hack for Earth Foundation recently entered a partnership to host the global hackathon. The Illovo-based tech non-profit organisation announced the collaboration with the Hack for Earth Foundation to find scalable health solutions. As many as 401 participants, 42 corporates, and 17 mentors from more than 20 countries will be part of the two-day hackathon on Saturday and Sunday (27 – 28 August 2022).…

Dr. Mvuyisi Mzukwa, the chairperson of the South African Medical Association (SAMA), is recovering in hospital after surviving a knife attack in Durban at the weekend. The SAMA chairperson was attacked while driving home from King Shaka International Airport. Bleeding from stab wounds the brave doctor managed to drive himself to a hospital, where he remains under treatment. “I was very heartened to find him on his recovery bed and commended him for his heroic action of driving himself while bleeding and in pain to the nearest hospital to save his life because had he waited a bit longer, his condition could…

A car fitment firm has introduced a new way for its customers to renew their vehicle licences while avoiding long queues and touts at licencing centres by simply using a WhatsApp number while visiting any of its stores. Fitment centre group Supa Quick on Wednesday said it has partnered with Disky – an online platform – to make it “convenient and quick for motorists to renew their vehicle licenses using WhatsApp at any of the 190 Supa Quick stores across South Africa”. Adeshni Sewbaran, franchise director at Supa Quick said: “We are all pressed for time, and no one likes…

The African National Congress (ANC) has failed to meet its obligations in terms of making regular retirement fund contributions to the  Provident Fund, racking up arrears of R86 million, the Financial Sector Conduct Authority (FSCA) revealed Wednesday. Responding to queries on the matter, the FSCA said it was prudent and in the public interest to provide an update to the public. The FSCA said it was also acting in accordance with the Financial Sector Regulation Act, 2017, which requires it to inform the public of regulatory action or intervention it has taken in relation to regulated entities. “The ANC, which is a participating employer in…