South Africa’s state arms company, Denel as requested a R2.8-billion ($200-million) bailout from government. Denel was once part of the country’s thriving defence industry but like many other state owned entities was mismanaged and affected by corruption during the former president Jacob Zuma years which lead to a financial crisis. CEO Danie du Toit was..
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ANC-regime stretching public finances by issuing bailouts to keep bankrupt SEO’s afloat – Denel requests a R2.8bn bailout from government
SARS boss Tom Moyane sacked
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In a late-night move, President Cyril Ramaphosa has suspended South African Revenue Service (SARS) commissioner Tom Moyane.
The under-fire tax service boss has been informed of his suspension, which takes effect immediately, the Presidency said in a statement.
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Today is a full day of hearings into corporate scandals in Parliament
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South African corporate scandals will be the order of the day in Parliament on Tuesday, as the standing committee on finance rolls up its sleeves for a full day of hearings into the imbroglios at Steinhoff, KPMG, VBS Mutual Bank, and the SA Revenue Service.
The committee will start by receiving briefings on Capitec Bank and VBS Mutual Bank on Tuesday morning.
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