Business In The News South Africa

MP tells Steinhoff chairwoman her briefing to Parliament “wishy-washy”

PARLIAMENT, August 29 – The answers provided by Steinhoff chairwoman Heather Sonn on what has transpired at the multi-national retailer since an accounting scandal caused the company’s share price to fall over 95 percent were “wishy-washy” and “a lot of waffle really”, chairman of Parliament’s standing committee on finance Yunus Carrim said on Wednesday.   […]

In The News South Africa

Reported R59 billion bailout to SoEs will worsen debt levels and impact SA ratings, says DA

CAPE TOWN, August 13 – Reports of a proposed bailout for parastatals by cabinet, especially the South African National Roads Agency (Sanral), will worsen South Africa’s precarious debt levels and negatively impact the country’s national sovereign ratings, the Democratic Alliance said on Sunday. “Cabinet’s argument that a Sanral default will affect sovereign ratings is flawed, […]

In The News South Africa

Parliament may approach courts on Revenue Service executive’s tax probe

PARLIAMENT, December 6 – Parliament’s standing committee on finance may approach a high court to see whether it could compel South African Revenue Services (Sars) commissioner Tom Moyane to answer questions about an investigation into the tax affairs of one of its senior executives, it emerged on Tuesday. “Instead of going around in circles, can […]

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 In The News South Africa

Regulatory board to fast-track probe into KPMG’s work for Gupta family

PARLIAMENT,  October 3 – The Independent Regulatory Board of Auditors said on Tuesday it has met with KPMG international chairman Bill Thomas and urged him to ensure full cooperation with its investigation into work the auditing firm did for the Gupta family’s business empire. IRBA CEO Bernard Agulhas said since that meeting, which also included KPMG SA […]