Business In The News South Africa

PIC pursuing criminal charges against directors seconded to VBS

PARLIAMENT,  December 7 – The board of the Public Investment Corporation (PIC) has directed that criminal charges be brought against two former directors who were seconded to VBS Mutual Bank but failed to report any suspicious transactions, acting chief executive officer Matshepa More said on Thursday. More told Parliament’s watchdog the Standing Committee on Public […]

In The News South Africa

North West local government committee blames provincial department for the collapse of Tswaing municipality

RUSTENBURG, August 23  – The Tswaing municipality in the North West collapsed due to a weak monitoring role played by the provincial local government and human settlement department, North West portfolio committee on local government and human settlements said on Thursday. Committee chairperson Motlalepula Rosho said the municipality’s collapse was due to a lack of commitment […]

In The News South Africa

MPs to summon ministers on R13.8 billion owed to Eskom by municipalities

PARLIAMENT, May 16 – MPs on Wednesday resolved to summon the inter-ministerial task team looking into municipalities which owe the state-owned power utility, Eskom, close to R14 billion in debt to Parliament. At a meeting of Parliament’s standing committee on public accounts (Scopa), Eskom board chairman Jabu Mabuza told MPs the amount the electricity utility […]

In The News South Africa

KZN education in danger of collapse – head of department tells Scopa

PIETERMARITZBURG, February – The KwaZulu-Natal Education system is at the risk of collapsing if it does not get funds to fill crucial vacant posts, said the Head of Department Dr. Enoch Nzama after department officials got a grilling from the Standing Committee on Public Accounts (Scopa) at the KZN Legislature on Tuesday. Committee members expressed reservations […]

In The News South Africa

SA’s public enterprises minister hints Transnet board could be “rotated”

PARLIAMENT, January 23 – Public Enterprises Minister Lynne Brown on Tuesday suggested board members of Transnet, South Africa’s state owned freight and logistics company, could be “rotated” should they not guard the integrity of the entity.   Brown was speaking in a meeting of Parliament’s standing committee on public accounts (Scopa) where MPs took Transnet […]

Lead South Africa

Transnet board, executives expected in hot seat after being summonsed by Parliament

PARLIAMENT, January 23 – The board and executive management of South Africa’s state-owned freight transport and logistics company, Transnet, are expected to appear before Members of Parliament (MPs) on Tuesday, after Parliament issued them with summonses. The summons was issued in December shortly after executive and non-executive directors of the company failed to appear before […]

In The News South Africa

Transnet apologises unreservedly for no-show at Parliament’s Scopa

JOHANNESBURG, December 6  – The board of South Africa’s state-owned freight and logistics company, Transnet, on Wednesday apologised for failing to appear before the Parliament’s standing committee on public accounts (Scopa), saying that it was committed to having proper engagements with lawmakers. Board chairwoman Linda Mabaso and her team were expected to respond to Members of Parliament (MPs) […]