Author: The Bulrushes

For nearly 50 years, the JSE Investment Challenge has been teaching high school learners and tertiary students about investing on the JSE and the larger role that investment plays in the country’s economy. “This competition is a great way for learners to gain various skills while learning about South Africa’s economy,” comments Sizwe Mtsweni, teacher of the winning team in the Income Portfolio, MP Street Profit from Mpumelelo Secondary School. According to Mtsweni, the Investment Challenge aims to inspire learners to come up with creative solutions to present-day challenges and problems not only in our country, but globally. He believes that…

Police on Thursday swooped on a huge illegal mining plant in Springs where suspected illegal migrants were arrested after they were found processing gold. Police said as part of Operation O Kae Molao, a multidisciplinary team of law enforcers went to an industrial area in Springs, where an illegal mining plant was bust. “Fourteen undocumented foreign nationals were arrested after they were found hard at work processing gold-bearing material,” said the police in a statement. Police said they seized heavy-duty equipment used for illegal mining and flattened the area. Gauteng Provincial Commissioner, Lieutenant General Elias Mawela, led another successful Operation O Kae Molao,…

The Special Investigating Unit (SIU) on Wednesday said it has obtained a preservation order from the Special Tribunal to freeze the pension benefits of Philemon Letwaba, the former Chief Operating Officer of the National Lotteries Commission (NLC). An investigation by the SIU into the affairs of NLC suggests that Letwaba benefited personally from monies received by NPOs from the NLC. Allegations are that Letwaba allegedly used friends and family businesses, and Trusts to receive money from NPOs for his benefit and that of his family. The names of the businesses and Trusts are: •Unbrand Properties •Mosokodi Water Solutions and Drilling…

The Constitutional Court on Tuesday ruled that the Executive Code of Ethics was unconstitutional in so far as it does not require Members to disclose donations made to internal party-political election campaigns. The ruling followed an application brought by the amaBhungane Centre for Investigative Journalism NPC for the confirmation of a high court order of constitutional invalidity in respect of the Executive Code of Ethics. Confirming the high court’s decision that the Code is unconstitutional in so far as it does not require members of the executive to disclose donations made to internal party-political election campaigns, the apex court found…

Load-shedding will continue to be implemented at Stage 5, with a possibility of reducing a further stage by Thursday, Eskom has announced. “Since yesterday afternoon four generation units at four power stations were taken offline for emergency repairs,” Eskom said on Tuesday. “These are a generating unit each at Arnot, Lethabo, Kendal and Majuba power stations. Seven units returned to service at Camden, Kendal, Kriel, Kusile, Lethabo and Majuba power stations.” The struggling power utility again apologised for the continued load-shedding because of the shortage of generation capacity and the need to attend to breakdowns. “While some generation units are…

Diesel shortages continue to cripple Tshwane Bus Service (TBS) operations in the capital city. On Tuesday morning only a few buses were seen on the road. “More than half of the TBS fleet is not running this morning because we did not get the delivery of diesel last night as we had anticipated,” said Selby Bokaba, spokesperson for the City of Tshwane. “We will continue to engage with our service provider with a view to expediting the delivery of diesel today so that service can return to normal.” On Monday the TBS operations were severely constrained resulting in the temporary…

The Global Center on Adaptation, African Development Bank, and Climate Investment Funds are calling for applications for the second edition of the African Youth Adaptation Solutions (YouthADAPT) Challenge. YouthADAPT is an annual competition that invites young entrepreneurs and micro, small, and medium enterprises in Africa to submit innovative solutions and business ideas that have the potential to drive climate change adaptation and resilience across the continent. This year, 20 winners will each be awarded $100 000 or R1.7 million, training, mentorship and coaching to support their climate change adaptation innovation in their communities and across Africa. The commercially viable business…

A daring burglar, who broke into the Directorate for Priority Crime Investigation (DPCI) offices in Mbombela (Nelspruit), has been found guilty of housebreaking and theft. The Nelspruit District Court on Friday (16 September 2022) found 32-year-old Daniel Wagenaar guilty of seven counts of housebreaking and theft. The accused broke into the DPCI – better known as the Hawks – offices on Van Rensburg Street in Mbombela on 6 March 2022 at about 19h00. After the break-in, the Local Criminal Record Centre (LCRC) visited the crime scene and lifted fingerprints for linkages. As a result, Wagenaar was positively linked to the crime…

Police have swooped on a business premise in Roodepoort and found equipment suspected to be used for illegal mining. The police said they raided the business premises in the evening on Thursday (15 September 2022). “The equipment that includes ‘pendukas’ are allegedly manufactured by this company, using gas bottles and steel water pipes,” said Lieutenant Colonel Mavela Masondo. “Also found at the premises were iron balls, electric motors, generators and compressors. “Three undocumented foreign nationals who are employees of this company were arrested while police are still searching for the owner of the company”. In a related matter, Gauteng Provincial…

Petrol users could see another sizable reduction in their fuel price in October while diesel users are facing an increase, the Automobile Association (AA) said on Friday. The AA said unaudited mid-month data of the Central Energy Fund (CEF), shows that petrol was expected to decrease by between R1.14 and R1.24 a litre, while diesel was expected to increase by between 43c and 50c a litre in October. “At this mid-month stage, the outlook for petrol is positive. But the expected price increases to diesel are concerning as this is the fuel mainly used in the mining, manufacturing, and agricultural…

Eskom has announced that owing to breakdowns and persistent shortages of generation capacity Stage 4 load-shedding will continue until Sunday morning. “Breakdowns of a generating unit each at Kriel, Majuba and Tutuka power stations over the past 24 hours have necessitated the continuation of load-shedding at Stage 4 until Sunday at 05:00,” Eskom said Friday. “Thereafter load shedding will be implemented at Stage 3 until 05:00 on Monday.” Eskom said while some generation units are anticipated to return to service next week, it was necessary to extend the load-shedding to replenish the emergency generation reserves. The power utility said emergency…

Three suspects aged between 36 and 42 from Mbombela Municipality Traffic Department and White River Traffic Department have been arrested in connection with fraud, theft, and money laundering amounting to R60 million. Their arrests on Wednesday follow an investigation into alleged corruption at the department carried out by the Special Investigation Unit (SIU), which began in December 2018. Allegations are that traffic department officials were taking bribes to unlawfully extend expired vehicle licence discs without enforcing related fines. Suspicions are that the cashiers colluded with the truck fleet owners, who owed large amounts of money for expired licence and fines…

Namibia and Botswana are on track to lift passport requirements at their border and use IDs with enhanced digitisation, a move said to be in line with the much-mooted SADC integration. Once the agreement is in place IDs from both countries will enable citizens to use them to cross the border. Speaking during the inaugural Botswana-Namibia bi-national commission, Namibian president Hage Geingob on Friday, said: “Our two countries not only share a common border, but also a common people and heritage. A symbiotic and interdependent relationship exists along our common borders.” Geingob added: “Therefore, I call on our senior officials…

The Independent Police Investigative Directorate (IPID) on Sunday said it arrested seven Ekurhuleni Metro Police Department (EMPD) officers for murder and defeating the ends of justice, on 10 September 2022. “Five constables and two inspectors will make their first appearance at the Tsakane Magistrate Court tomorrow, 12 September 2022,” said a statement released by IPID spokesperson, Lizzy Suping. “It is alleged that the officers went into a shack in Langaville, Extension 6, on the 8th of September 2022, where they found 4 African males. “Two were sleeping and the other two watching TV. As the officers entered the shack, two…

Eskom has implemented Stage 4 load-shedding from 10 am Saturday until Monday morning. “Regretfully, due to additional breakdowns overnight, Eskom was unable to replenish the emergency generation reserves, which has worsened the current generation capacity constraints,” said Eskom. “Stage 4 loadshedding will therefore be implemented from 10:00 this morning until 05:00 on Monday morning. “This is to replenish the emergency reserves in order to contain loadshedding to lower stages next week.” The struggling power utility said a generation unit at Kendal was forced offline for emergency repairs while a unit each at Majuba, Lethabo and Camden power stations, as well…

Astron Energy, which operates the second largest petroleum retail network in South Africa with over 850 service stations, has unveiled its new-look service stations. The rebrand from Caltex to Astron Energy is the most significant change in the South African liquid fuels industry in three decades. It is also a key milestone in Astron Energy’s ambition of becoming the next biggest fuel brand in South Africa. The first Astron Energy sites to feature the new brand include: Chuenespoort along the R37 in Limpopo KwaMakhuta in Amanzimtoti, KZN Nandi in eThekweni, KZN MACS in Brooklyn, Cape Town The entire network of…

Sixty-three-year-old Danie Reyneke, a former Warrant Officer with elite crime busters – the Hawks, has been slapped with a 15-year prison sentence for stealing guns and being caught with explosives. The Durban Regional Court on Wednesday (7 September 2022) sent Reyneke to prison for theft of firearms, illegal possession of ammunition, unlawful possession of explosives and unlicensed firearms, as well as negligent loss of firearms. Reyneke, a former member of the Hawks based in KwaZulu-Natal, was convicted of the offences committed between 1997 and 2014. Following investigations by the Hawks’ Serious Corruption Investigation into the theft of guns, the accused…

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…