Business In The News South Africa

DA fails to find support for claim that SAA’s R3 billion lifeline was illegal

PARLIAMENT, October 5 – The Democratic Alliance’s objection that last week’s R.3 billion bailout to South African Airways was illegal seems unlikely to go far after Parliament’s standing committee on finance received a legal opinion Thursday suggesting there was not a clear case to be made for this. Parliamentary legal advisor Frank Jenkins told the […]

Business Lead South Africa

Sunday Times report on PIC distasteful, inaccurate – Matjila

 PRETORIA, September 26 – Public Investment Corporation (PIC) chief executive Dan Matjila on Tuesday rubbished a newspaper article which quoted him as saying there are powerful individuals who are targeting him as they seek access to the R1.9 trillion of pension money he manages on behalf of South African government’s employees. “I think the article that appeared in […]

Business In The News South Africa

Gigaba denies Treasury looking at PIC to bail out struggling SOEs

CAPE TOWN, September 25 – Finance Minister Malusi Gigaba on Monday, rubbished claims that he would use funds from the Public Investment Corporation (PIC) to bail out South Africa’s failing state-owned enterprises. Responding to reports last week that Treasury was looking to tap into the PIC, which manages public service employees pension funds, Gigaba said: […]

In The News

KPMG must be blacklisted, says Sanco

CAPE TOWN, September 20 – The South African National Civic Organisation (Sanco) has called on government and business to blacklist KPMG for unethical behaviour. The call follows the resignation of a number of the international audit firm’s senior South African executives and withdrawal of its findings on the South African Revenue Service(Sars) report into the so-called […]