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Ramaphosa files response to PP's 'Farmgate' claims

Complaints to the Public Protector about Glencore and ‘Farmgate’ did not prevent President Cyril Ramaphosa from suspending Busisiwe Mkhwebane, he said in court papers filed yesterday.

Zondo let bankers off the hook

The Zondo Commission dedicated 100 of the 5 500 pages in its final reports to describe the money laundering systems used to divert the loot of state capture to Gupta ‘bolt holes’ outside SA.

Eskom reaches agreement with striking workers

Minister of Public Enterprises Pravin Gordhan says an agreement has been reached with unions to bring the strike at Eskom to an end, reports The Citizen.

Gambling board’s Tsogo Sun conditions unlawful

Stringent decisions made by the Western Cape Gambling & Racing Board relating to Tsogo Sun Gaming’s casino operating licences and its Broad-Based Black Economic Empowerment (B-BBEE) framework have been declared unlawful and invalid.

Eskom debt millstone for transmission firm

SA’s plan to create a power transmission company that will attract the investment needed to strengthen the national grid has been hobbled by its restrictive debt arrangements with parent Eskom, reports Moneyweb.

Developer wins dispute over unpaid debt

The Gauteng Human Settlements Department has been ordered to pay businessman David Mabilu’s company Vharanani Properties more than R1.85m to partly settle a dispute over the construction of low-cost housing and rental units.

Dilemma over Sharemax’s half-built mall

The majority stake of the massive half-built and derelict shopping mall, The Villa, in Pretoria, the flagship project of the failed Sharemax investment scheme, may soon be liquidated or sold to a third party, reports Moneyweb.

Ex-CJ officials embroiled in tender row

Three top officials from the Office of the Chief Justice (OCJ) are accused of corruptly setting themselves up for a large slice of a R225m IT contract after they helped to strike the deal.

State coughs up R225m after Mango court threat

Mango Airlines, a state-owned carrier, has been given another chance of survival after the government threw it a financial lifeline that might pave the way for its flight operations to resume and the conclusion of its 10-month-long business rescue process, reports the Daily Maverick.

Bosasa property up for sale

A 9ha copper smelter in Krugersdorp that was part of the former Bosasa empire is for sale. The property – which includes facilities once used for farming prawns – features an illegal structure, misappropriated land and a list of missing or incomplete paperwork.

Farmer given 14 days to vacate mine property

Lazarus Mosala stopped the expansion of one of the world’s biggest opencast mines for years by refusing to leave the land where his animals graze. In the process, he extracted concessions worth more than R8.6m from Sishen Iron Ore.

Santam's exposure to KZN floods exceeds R3bn

Santam estimates that its gross exposure to the recent KZN floods is around R3.2bn, reports Fin24. However, as its reinsurers will foot most of the bill, the net impact on SA's largest short-term insurer will be approximately R500m.

Capitec explains R177m reward to three executives

Capitec's remuneration committee (Remco) says excellent performance and strong leadership before and during the ‘Covid-19 year’ informed its decision to reward its three top executives with R177m.

Standard Bank laments infrastructure project delays

Almost a quarter of SA’s R340bn worth of strategic infrastructure projects have been delayed or put on hold, according to Standard Bank.

Government gives fuel price hike ‘special consideration’

Minister in the Presidency Mondli Gungubele has confirmed government is deliberating on how best to ease the burden on citizens as fuel hikes loom, saying the matter was receiving special consideration.

MTI investors want liquidators removed

Lawyers representing some of the Mirror Trading International (MTI) investors questioned the accuracy of figures provided by the liquidators as the matter unfolded in the Western Cape High Court, reports Moneyweb.

Ayo dividends approach R1bn as its ‘cash-pile’ dwindles

Ayo Technology has declared an interim dividend of 35c per share, despite the group reporting a headline loss of R122m (35.9c per share) on revenue of R859m in the six months to 28 February.

R53bn in claims lodged over Steinhoff fraud

Steinhoff on Friday said it has received more than 43 000 claims from investors, such as pension and investment funds, which held the stock that was punished in the wake of SA’s biggest accounting fraud.

Ruling a warning against business rescue abuse

The recent judgment of the Gauteng High Court (Pretoria) in Commissioner for SARS v Louis Pasteur Investments (Pty) & Others highlights issues relevant to the abuse of the business rescue procedure.

Dis-chem probes massive data breach

Dis-Chem has confirmed an investigation into a data breach of 3.6m people’s personal information. An EWN report notes that the company confirmed that ‘no identification numbers, medical, financial or banking information was contained in this database’.

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