Business In The News South Africa

Parliament calls on Hawks, NPA to act against #VBSBankHeist alleged looters

JOHANNESBURG, October 17 – Parliament’s standing committee on finance on Wednesday called on law-enforcement agencies, the Directorate for Priority Crime Investigation (The Hawks) and the National Prosecuting Authority (NPA), to act swiftly and decisively against those alleged to have defrauded the VBS Mutual Bank. A forensic report titled “The Great Bank Heist” by Advocate Terry […]

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 […]