Former ANC president Thabo Mbeki has also joined the debate among black people about the possibility of nationalization of the South African Reserve Bank. Mbeki said the move was pointless, but political analysts said his point of view was merely an indication that he was still severely annoyed by how Zuma lifted him from the..
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Reserve Banking Nationalization might just be a stunt to retain votes for the ANC?
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SARB Changes from Sacrosanct to Nationalization – Ramaphosa is Misleading the Country with a Double-Edged Tongue
South Africa Considers Handouts To Help Zimbabwe With Trouble Caused By… Handouts!
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The spiraling economic meltdown in Zimbabwe has prompted South African authorities to think about extending short-term credit to Harare and helping it to write off a $7.4-billion external debt. In an interview with the Daily Maverick newspaper, South African Finance Minister Tito Mboweni said the two governments were discussing ways to settle Zimbabwe’s debt to..
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Two ANC leaders singing different tunes and it is so confusing – Ace Magashule vows South African Reserve Bank will be nationalised whilst Ramaphosa was assuring business leaders in the private sector that the reserve bank would remain independent
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The ANC’s secretary-general, Ace Magashule has revealed the ANC’s plans regarding the South African Reserve Bank (SARB). A couple days after the party’s NEC had their Lekgotla meeting, Magashule has returned with shocking news of the party’s aim: to nationalise the central bank. South African Reserve Bank targeted for nationalisation by the ANC South Africa’s..
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Do you want some money?? Go to the EFF:- Floyd Shivambu used VBS money for flat
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More than R400 000 of illicit VBS Mutual Bank funds was used by Brian Shivambu, brother of Economic Freedom Fighters (EFF’s) deputy president Floyd, as a deposit to purchase a R2.7-million townhouse in Fourways, Johannesburg.
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Facts to know on what is the “Great VBS Bank Heist” all about?
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Advocate Terry Motau has released his report into what might be the biggest banking scandal ever to be uncovered in South Africa.
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Following the Zondo Commission so far, The Reserve Bank warns of ‘catastrophic’ impact if banks kept Gupta accounts open
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South Africa’s “big four” banks could have been locked out of the international payments system with “absolutely catastrophic” results if they had kept the Gupta family’s bank accounts open in 2016, according to South African Reserve Bank deputy governor Kuben Naidoo.
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Treasury News:- Sars shortfall to blame for VAT hike, so we are paying for their incompetency!
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Treasury would not have needed to increase value added tax (VAT) by one percentage point to 15% in April if not for the revenue shortfall at the South African Revenue Services (SARS), deputy director general at national treasury Ismail Momoniat told the Nugent commission of inquiry on Wednesday.
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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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Former execs slapped the firm KPMG for R30m
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Two former KPMG directors who left because of the scandal involving the audit firm and VBS Mutual Bank have slapped the firm with multimillion-rand law suits for defamation and discrimination. But by doing so it has emerged that they were indebted to the embattled VBS — including for an almost R8‑million home loan.
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Bank that lent Zuma money to repay Nkandla upgrades under curatorship
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VBS Mutual Bank has been placed under curatorship.
South African Reserve Bank (SARB) Governor Lesetja Kganyago announced this late on Sunday afternoon at a media briefing in Pretoria.
The bank came under the public spotlight in September 2016 after it gave former president Jacob Zuma a loan to repay R7.8-million as ordered by the Constitutional Court for non-security upgrades at his private Nkandla homestead.
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Viceroy Labels Capitec A Loan Shark, Wants Bank Placed Under Curatorship
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Viceroy says it has found that Capitec has been advising and approving loans to delinquent customers in order to repay existing loans.
The Viceroy research group has called on the Finance Minister and the South African Reserve Bank to immediately place Capitec under curatorship after branding the bank as a “loan shark with massively understated defaults – masquerading as a community finance provider”.
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Why Zuma’s free higher education plan will cripple SA’s finances
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The country’s fee-free higher education initiative, controversially introduced by President Jacob Zuma in the dying weeks of 2017, will plunge the country into a deeper financial crisis if it isn’t adjusted one way or another. Days after Zuma made his surprise announcement, Ramaphosa was elected president of South Africa’s ruling party, the African National Congress…
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The ruling party moves for land, and the Reserve Bank
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The ANC will seek to amend the constitution of the country to allow for expropriation of land without compensation and will also nationalise the South African Reserve Bank, the party announced on Wednesday night. The contentious announcement was made just before the close of its 54th national conference on Wednesday night. The sectoral commission on..
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Public protector vows to ‘set the record straight’ on Reserve Bank allegations.
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Public protector Busisiwe Mkhwebane will file court papers to “set the record straight” in response to an affidavit submitted by the South African Reserve Bank (Sarb) on Monday which alleges Mkhwebane plotted with the presidency and the State Security Agency (SSA) to change the constitutional mandate of the bank. Cleopatra Mosana, the spokesperson for the..
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