Auditor General (AG) Kimi Makwetu said not one of the 14 big state-owned entities (SOEs) audited by his office received a clean audit, a poorer outcome than last year. Makwetu was revealing the results of the national and provincial audits for the past financial year at Parliament on Wednesday. He said the financial health of..
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14 SOEs rack up more than R1.4 billion in irregular expenditure
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Irregular expenditure by ANC-parastatale entities increases to R61,3bn – only a stupid foreign investor will invest in SA
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Auditor-General Kimi Makwetu warned the government that further bailouts to state entities would increase the budget deficit and lead to credit downgrades. The state advanced R446 billion in the 2018/19 financial year to eleven state-owned entities. Irregular expenditure increased from R51 billion to R61.3 billion. A financial expert said in response to the alarming spending..
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National bankrupt broadcaster SABC, splurges millions, footed by taxpayers, on parties and bonuses while retrenching hundreds of workers
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MPs serving on the standing committee on public accounts (Scopa) have told the SABC top brass that it was unfair of them to retrench ordinary workers while the public broadcaster was spending millions of rands on parties and bonuses. The SABC board and its senior executives, including CEO Madoda Mxakwe and head of human resources..
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Hlaudi Motsoeneng ‘SABC was performing under my leadership,’ – even though he is the central figure in the complete financial and governance collapse of the corporation
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Former SABC chief operating officer Hlaudi Motsoeneng says the public broadcaster’s new leadership is “clueless and obsessed with blaming” him for the current financial crisis. Motsoeneng‚ who is embroiled in legal disputes with the SABC over the payment of his pension‚ told Sowetan in an interview at his Krugersdorp home: “The SABC was performing under..
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Let’s have a look at why e-tolls aren’t working and should be scrapped
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E-tolls remain a thorn in the sides of many South Africans. During his mid-term budget speech, the finance minister said it was about time e-toll defaulters start paying up.
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BREAKING NEWS:- E-tolls: Frustrations spill onto the streets as protests against Sanral begin
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Sick of e-tolls? Well, the streets of Pretoria are the place to be on Friday. OUTA is leading protest action against the “grossly-ineffective” system.
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Fired Transnet boss will still be paid R3 million for doing nothing
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Recently fired Transnet CEO Siyabonga Gama will still receive his salary for the next six months despite not having to report for duty. This was confirmed by Transnet board member Edward Kieswetter during an interview with eNCA’s Shahan Ramkissoon. Kieswetter confirmed that although Gama’s contract had effectively been terminated on Monday, the former CEO would..
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All they know is how to spend money:- Auditor General: Irregular spend at ‘all-time high’
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Auditor General Kimi Makwetu has lamented poor financial controls in the public sector that lead to irregular expenditure, saying the scourge has reached an “all-time high”.
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Parastatal waste equals tax shortfall: Treasury will need to find new resources to close the budget gap
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The R50‑billion shortfall in tax revenue that the treasury will need to find elsewhere to plug the budget gap is close to how much state-owned entities (SOEs) have thrown down the drain in the past financial year. The auditor general, Kimi Makwetu, released national and provincial audit results on Wednesday. Although the number of clean..
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SASSA IRREGULAR EXPENDITURE GROWS TO R1.4 BILLION
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In Sassa’s latest financial statements tabled in Parliament on Friday, the Auditor General says the agency did not take effective steps to prevent the irregular expenditure. The Auditor General has deemed the R43 million spent by the South Africa Social Security Agency (Sassa) on so-called work streams to have been irregular. In Sassa’s latest financial..
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Gupta-linked finance chief of Eskom Anoj Singh- suspended
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State-owned power utility Eskom has suspended its chief financial officer Anoj Singh on a precautionary basis‚ pending the outcome of a forensic investigation. The suspension‚ The Times has learned‚ follows an urgent intervention by Finance Minister Malusi Gigaba and his counterpart at Public Enterprises Lynne Brown. This comes after Eskom was faced with a threat..
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