Business In The News South Africa

National Treasury to work with public enterprises to right Eskom

PARLIAMENT,  October 25 – A team of experts from National Treasury will work with the department of public enterprises to correct governance and financial management problems at Eskom, Finance Minister Malusi Gigaba said in his medium-term budget policy statement on Wednesday. He singled out the power utility as a source of particular concern for government, […]

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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 […]

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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 […]

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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 […]