Provisional sequestration orders have been granted against three businessmen in the VBS Mutual Bank fraud saga.
Vele Investments, VBS’s main shareholder, has also been liquidated.
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Three of the VBS execs provisionally sequestrated, Vele liquidated
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Confirmation from Treasury – Eskom looting was an inside job
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The noose is tightening around senior Eskom officials already implicated in looting with further evidence of the underhanded tactics used to benefit the infamous Gupta family, revealed on Sunday.
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Jacob Zuma’s legal options unpacked
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Judging by former president Jacob Zuma’s new defence team’s choices, his constitutional right to a fair trial may feature prominently in his defence strategy.
Zuma is set to appear in the high court in Pietermaritzburg on Friday (July 27) on 16 charges of fraud and corruption.
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Bantu Holomisa – UDM- accuses Nene of favouring PIC boss
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United Democratic Movement (UDM) leader Bantu Holomisa has accused finance minister Nhlanhla Nene of favouritism after the national treasury announced on Wednesday that it would launch a probe into goings on at the Public Investment Corporation (PIC).
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China commits to more investments and ‘saves’ a few company’s in South Africa
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Addressing the media during the briefing of Chinese President Xi Jinping’s state visit held today in Pretoria, President Cyril Ramaphosa announced China had committed to $14.7-billion in investments.
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Patricia De Lille’s motion of no confidence goes ahead despite concerns of irregularities
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City of Cape Town council Speaker Dirk Smit has confirmed that a motion of no confidence in Cape Town mayor Patricia de Lille will be tabled on the council agenda for Thursday, despite allegations of due process being flouted.
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How is this even possible:- Eskom posts R2.3bn loss, R19bn in irregular expenditure
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Eskom suffered a net loss of R2.3-billion in 2018, the state-owned power producer revealed at it financial results presentation on Monday.
The power utility said its net cash from operations declined from R45.8-billion to R37.6-billion, as it struggled with leadership and operational challenges.
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Costly Head winds pummel the South African Airways
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Finance Minister Nhlanhla Nene has demanded an explanation from SAA for its contract with interim chief financial officer Robert Head that will see him pocketing more than R5‑million for six months’ work.
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VBS chair, Tshifhiwa Matodzi, family trust implicated in bank’s looting
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The family trust of former VBS Mutual Bank chairperson Tshifhiwa Matodzi was allegedly paid nearly R5-million from Vele Investments’ heist of money from VBS Mutual Bank.
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Democratic Alliance challenges Ipsos poll report
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The Democratic Alliance (DA) has hit back at Ipsos’s latest poll which indicates it could potentially lose 9% of its support in the 2019 general election — taking just 13% of the vote.
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New motion of no confidence scheduled against Patricia de Lille
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A new motion of no confidence in Cape Town Mayor Patricia de Lille will be heard at the first council sitting of the third term.
Cape Town city council Speaker Dirk Smit told News24 on Monday that the new motion had been submitted to his office, and would be heard at the next sitting following the recess on July 26.
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Cyril Ramaphosa downplays hope of a ‘quick fix’ for high fuel & VAT
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President Cyril Ramaphosa has given ministers in the economic cluster a two-week deadline to come up with measures to ease the burden of high fuel prices and the VAT hike on already struggling consumers.
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ANC bash caught up in VBS Mutual Bank’s web
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The ANC may be entangled in alleged fraudulent transactions involving embattled VBS Mutual Bank. These details have emerged from the ongoing investigation into the bank’s collapse, contained in civil claims launched by VBS curator Anoosh Rooplal against VBS shareholder Vele Investments and former bank officials.
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Ramaphosa dares Nigeria to sign free trade deal
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Forty-nine African countries have signed the African Continental Free Trade Area agreement, but Nigeria — the continent’s largest economy — is not among them.
South African president Cyril Ramaphosa put pen to paper on behalf of his country at the African Union summit in Nouakchott, Mauritania last month, and has urged Nigeria to follow suit in a speech in Abuja. South African officials have informed the African Union that they expect the deal to be ratified in Parliament by December this year.
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NPA:- Nomgcobo Jiba still on holiday until Shaun Abrahams gives the go ahead for her return
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Deputy national director of public prosecutions Nomgcobo Jiba will remain on special leave until the National Prosecuting Authority (NPA) gives her the green light to return to work.
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