Lord Peter Hain tabled a series of allegations in the UK’s House of Lords relating to the possible role of British banks in alleged money laundering and illicit financial transactions centred around President Jacob Zuma and the Gupta family. The Conversation Africa’s Charles Leonard asked him to explain why he took the step. Hain, who..
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State capture fiasco shows why collaboration is key to tackling global crime networks
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Gigaba’s first test: Can he ace the mid-term budget?
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Finance Minister Malusi Gigaba is in an unenviable position. In his maiden budget – today’s medium-term budget policy statement – he must confront, among other things, low economic growth, a tax revenue hole big enough to fly a plane through and the budgetary consequences of struggling state-owned enterprises. These issues are some of the chief..
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Banks go on the offensive to parry political attacks
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South Africa’s banks have gone on the offensive after being criticised by some politicians over their lending practices and records in addressing racial inequality. Attacks on the lenders have been led by Jacob Zuma, who’s accused them of monopolising the financial services industry, and questioned whether they colluded when closing accounts belonging to members of..
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Business Leadership South Africa suspends Eskom and Transnet
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Business Leadership South Africa on Thursday booted out state-owned entities Eskom and Transnet for their involvement in corruption and state capture with immediate effect. The announcement comes as BLSA launched its #BusinessBelieves campaign in Cape Town, where it signed a “contract” with South Africa, pledging to do even more to create jobs and grow and..
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What is the ANC learning from the private sector
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Within the past few days, former president Kgalema Motlanthe said it would be good if the ANC was voted out of office (good for the ANC, that is), the outspoken MP Makhosi Khoza resigned from Parliament and from the ANC, and the Bank of Baroda won a court case to allow it to stop being..
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Makhosi Khoza leaves ANC to join anti-corruption organisation
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Makhozi Khoza has just announced that she is revoking her ANC membership to join the “the new anti-corruption movement of society and faith-based organisations”. Khoza made the announcement at a press briefing on Thursday at Lilliesleaf, Johannesburg. In a long, emotional speech she said that the ANC had become filled with corrupt leaders. “I have..
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Moyane clings to existence of so-called ‘rogue unit’ despite KPMG confession
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Sars commissioner Tom Moyane has insisted that there is evidence to support the notion of a so-called “rogue unit” in Sars, despite a blow from auditing firm KPMG which withdrew its findings on the unit. Moyane announced in a press briefing on Monday that the South African Revenue Service is now pursuing legal action against..
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As the ANC crumbles, it’s time to choose
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The majority of South Africans, especially black people, are seriously disillusioned. They believe they have been abandoned at sea by their trusted captain. The problem is that black people had bought into the propaganda that the ANC was ordained to rule “until Jesus Christ comes back”. It is now more than clear to all thinking..
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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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Squabbles dim DA’s hope of 2019 win
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Worsening relations between the Democratic Alliance and smaller opposition parties are threatening the party’s hopes of assuming power nationally in 2019 by forming a coalition government. On Tuesday, when the DA brought a motion to dissolve Parliament, its opposition allies would not support it. The smaller opposition parties accused the DA of being arrogant for..
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