Business In The News South Africa

Dudu Myeni sacked from SAA board

JOHANNESBURG, October 19 – Cabinet has approved sweeping changes to the board of South African Airways and replaced controversial chairwoman Dudu Myeni with JB Magwaza, well-placed sources confirmed on Wednesday evening. At a meeting earlier in the day, President Jacob Zuma’s Cabinet approved a new board which saw Myeni; Tryphosa Mmakeaya; Mzimkhulu Malunga; Siphile Buthelezi; […]

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Gigaba cleanses the PIC

Sello Theletsane   Following recent media reports suggesting that Public Investment Corporation(PIC) boss Dr Dan Matjila was being smeared and targeted, Finance Minister Malusi Gigaba has written a letter to his deputy Sfiso Buthelezi who is also PIC board chair requesting him to among others disclose all PIC transactions (both Listed and Unlisted Investments) concluded […]

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

Treasury denies plot to replace PIC chief executive with Gupta associate

CAPE TOWN, September 14 – There were no “pre-conceived plans” to remove Public Investment Corporation (PIC) chief executive Dan Matjila, Deputy Finance Minister Sfiso Buthelezi said on Thursday. Buthelezi, who is also chairman of the PIC, was responding to media reports that Matjila would be removed at a board meeting on Friday and replaced with […]

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Gigaba urges tax practitioners to help combat illicit financial flows

JOHANNESBURG, September 11 – Finance Minister Malusi Gigaba has on Monday, urged South African tax practitioners to assist government in combating corruption, money laundering and illicit financial flows which deprive taxpayers their deserved benefits. Gigaba said that the tax revenues collected kept South Africa running, paying for social upliftment and poverty alleviation through grants and […]

Business In The News South Africa

Gigaba announces MTBPS date, says Treasury will manage government debt

JOHANNESBURG, September 11 – Finance Minister Malusi Gigaba on Monday announced that he would deliver his inaugural Medium-Term Budget Policy Statement (MTBPS) next month on October 25. The MTBPS is a government report providing information on the country’s economic context, fiscal objectives, and spending priorities over a three-year period. “We will outline what we will […]