Author: The Bulrushes

The Eskom Pension and Provident Fund (EPPF) on Wednesday announced that it has paid the power utility R30 million related to the erroneous pension pay-out to former CEO Brian Molefe. EPPF said it, “confirms that it has repaid the R30 million that was unlawfully paid to it by Eskom in relation to Mr. Brian Molefe’s pension matter”. This is in line with the Pretoria High Court judgment of 4 July 2022. The court ordered both the EPPF and Molefe to repay the irregular pension payout to Eskom. However, Molefe has sought leave to appeal the decision and has not yet…

South African security personnel are being accused of travelling to Malawi to kidnap Prophet Shepherd Bushiri. The Leader of Enlightened Christian Gathering (ECG) Jesus Nation Church and his wife, Mary, skipped bail in South Africa, where they were awaiting trial for money laundering and fraud. The pair are the subject of an extradition process to bring them back to South Africa that is being heard in a court in Malawi. Bushiri, also known as “‘Major 1”, insists he is innocent and only left South Africa because his life was in danger. Soon after arriving in Malawi, Bushiri said he had…

Meta announced the launch of “Creators of Tomorrow” on Tuesday. Creators of Tomorrow is a new campaign that celebrates emerging talents from around the world, who are inspiring a new movement of creative content online. The campaign spotlights creators in Sub- Saharan Africa from East Africa, Southern Africa, and Francophone Africa. Pamela Mtanga, is the only South African who is part of Creators of Tomorrow. The 26-year-old public relations graduate is one of SA’s hottest beauty and fashion influencers. Pamela was named top personality and influencer at the Top 16 Youth-Owned Brands Awards hosted by Pat on Brands. Pamela is also…

The Auditor General South Africa (AGSA) has suspended Chief People Officer (CPO) Mlungisi Mabaso for threatening to expose alleged corruption against Auditor-General (AG) Tsakani Maluleke. In a lengthy statement on Thursday, Maluleke said she held a meeting with Mabaso on 27 June 2022. In the meeting, Mabaso accused the AG of “corrupt, unprofessional and unethical conduct”. Maluleke said: “The CPO wanted mutual separation (financial settlement) in exchange for him not exposing allegations to the public.” The statement said the investigation into the conduct of the CPO has led to charges of gross misconduct and a disciplinary process. “The CPO is…

Financial education for learners in high school should be mandatory at all schools in the country, this is according to Phyllis Walsh, teacher and mentor at Eden College in Durban.  Walsh’s sentiments are a result of her experience mentoring a team of four learners in the JSE Investment Challenge, which teaches learners and students how to trade financial instruments and, in the process, acquire valuable insight into financial markets, investments and how to build investment portfolios. Her team, “The Yammer Yummerers”, won the July prize in the Speculator Portfolio for schools in the JSE Investment Challenge. Walsh has turned into…

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…