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'Fake qualifications’ boss throws in the towel

Langalezwe Madonko, the central figure in a fake qualification controversy at private equity company Summit Africa, has resigned from his senior position at a black industry body, reports Fin24.

Another twist in the ‘Please Call Me’ saga

If Nkosana Makate invented the Please Call Me service, the subject of the ongoing 15-year-old court case between him and Vodacom, where is his patent? Or even his application for one?

SA company wins R8bn platinum mine fight

The Gauteng High Court (Pretoria) has thwarted attempts by a Chinese-owned company to claim mineral rights in Limpopo worth billions of rands.

Car dealership cybercrime appeal upheld

Cybercrime was once again the topic of a legal wrangle, this time between two car sale companies, with the one who bought two bakkies from the other, only to discover after delivery of the vehicles that cybercriminals had intercepted the electronic payment made for the vehicles.

Sekunjalo accounts will remain open

In what The Star calls an undertaking that ‘popped out of the woodwork at 4pm’ in the Western Cape High Court yesterday, lawyers for Standard Bank said the bank accounts of the Sekunjalo Group of companies would remain open even if an interim interdict against the bank was not upheld.

Libyan fund takes on Legacy Hotels in hostile bid

A R1.2trn Libyan sovereign wealth fund has launched a hostile takeover bid for one of SA’s premier hospitality groups, Legacy Hotels, following a bitter boardroom fallout, putting a multi-billion-rand property portfolio at stake with implications for funders.

SIU recovers R700m NSFAS funds

The Special Investigating Unit (SIU) probe into the troubled National Student Financial Aid Scheme (NSFAS) has led to recoveries to the tune of more than R700m, reports News24.

Ellies on the ropes after failing to diversify

Ellies has filed for business rescue after it couldn’t secure backing from its lenders, Business Day reports.

Leoka parts company with MTN and Amplats

Economist Thabi Leoka has resigned from the board of MTN SA amid questions over whether she has a PhD from the London School of Economics (LSE).

Software giant in hefty bribe settlement with SA

German software maker SAP has agreed to pay more than $220m (R4bn) to settle bribery investigations against it in SA and the US, including findings that it bribed officials to win Eskom contracts.

Body blow for firm setting up influencers' fights

A company arranging boxing matches between social media influencers may face scrutiny from the prosecuting authorities and the companies regulator after the Gauteng High Court (Pretoria) found the contests were unlawful.

Juice firm sanctioned over misleading label

The advertising regulator has ordered a KZN fruit juice firm to repackage a product that gave the wrong idea that it contained 42% cranberry juice.

Cape Town loses parking operator case

Cape Town motorists will be able to continue paying cash for their kerbside parking in the city’s CBD after the Western Cape High Court set aside the city’s tender award to a cashless parking operator.

Greylisted SA is making progress

The latest report of the Financial Action Task Force (FATF), which greylisted SA earlier this year, indicates that the country has made progress in addressing technical compliance deficiencies in its anti-money laundering system, Business Day reports.

SIU probes SAA’s R3.4bn dodgy deals

An investigation by the Special Investigating Unit (SIU) of the affairs of SAA has recovered R14m and identified a further R3.4bn that has to be recouped from companies and individuals who were awarded contracts irregularly.

Koeberg unit synchronised to electricity grid

Koeberg's unit one is back on the electricity grid after almost a year and long delays. Its three steam generators had to be replaced to extend Koeberg's lifespan for another 20 years.

Backlash over 'unprovoked' trade barriers

Agricultural industry bodies and the Department of Agriculture, Land Reform & Rural Development have hit back at weekend media reports which suggested that farmers who did not comply with certain BEE requirements would no longer be allowed to export to the EU and the UK.

Keen interest in Coronation’s tax case

National Treasury has withdrawn – for now – the far-reaching proposed amendment to the Income Tax Act pertaining to the rules governing offshore entities of SA multinationals.

Cape Winelands Airport seeks approval

The proposed redevelopment and expansion of the Cape Winelands Airport estimated to cost about R7bn has entered the next phase, with an application to the Department of Environmental Affairs & Development Planning for environmental approvals.

Nova unable to repay former Sharemax investors

The Nova Property Group is in a desperate financial position and is unable to repay its debenture holders – former Sharemax investors – anytime soon, if ever.

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