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23 May 2019 Corruption & Governance Watch

Focus


Clouds over Ramaphosa’s ‘new dawn’

It’s been a rocky road from Nasrec where President Cyril Ramaphosa narrowly won the 2017 ANC conference to Loftus Versveld where he will be inaugurated on Saturday. And Legalbrief reports that events over the next few days will play a ... Read More

South Africa


Zuma's 'Stalingrad' strategy sharply in focus

The reason for the decision to prosecute former President Jacob Zuma on charges of racketeering, money laundering, fraud and corruption does not matter, even if it was politically motivated. This is one of the arguments set to be put to ... Read More

Gauging the extent of the Steinhoff implosion

For pundits, Steinhoff’s 2017 financial statements were always going to be a precedent-setting treat, stretching the boundaries of what is possible. The company last week finally revealed its audited financials for the year to September 2017 — the very set ... Read More

More changes mooted for auditors’ code of conduct

An exposure draft proposing amendments to a section of the international code of ethics for professional accountants dealing with ‘assurance engagements’ has been released for comment, notes Legalbrief. Once finalised, the changes mooted will be incorporated into the Independent Regulatory ... Read More

Policy Watch


Economy: Mboweni overlooked culture of non-payment

Finance Minister Tito Mboweni may well be ‘poised’ to retain his position in Cabinet for ‘at least another year’ (Engineering News) – but South Africans concerned about the state of the economy and Eskom (among other things) probably need just ... Read More

Analyses


Knives out for 'incompetent, negligent' PP

When the Public Protector fails to discharge her mandate and duties, the strength of SA's constitutional democracy is inevitably compromised and the public is left without the assistance of their constitutionally created guardian. It means that a vital constitutional ... Read More

Unclear accounting authority to blame for rot

While commissions of inquiry into corruption and wrong-doing in state departments have taken centre stage in recent times, government was still streets ahead of the corporate sector in holding leaders to account. 'What lies at the heart of the rot ... Read More

How investment firm’s Ramaphosa gamble paid off

As if Goldman Sachs’ very public pre-election support for the ANC was not enough, the firm hosted an investment conference last week that was headlined by President Cyril Ramaphosa and attended by Public Enterprises Minister Pravin Gordhan, investors and SA ... Read More

Rest of Africa


MTN pays bulk of massive Nigeria fine

MTN has paid more than three-quarters of a record $1.5bn dollar fine levelled by Nigeria for failing to disconnect unregistered subscribers, the government has confirmed. The company was initially fined $3.9bn in October 2015, after failing to disconnect ... Read More

Reserve Bank faces R1.9bn lawsuit

The cash-strapped Zimbabwean economy looks set for a further battering following a staggering R1.9bn lawsuit against the ‘corrupt’ Reserve Bank of Zimbabwe (RBZ) filed by the country’s biggest gold producer. Mzi Khumalo, chairperson of miner Metallon Corporation, confirmed to ... Read More

Harare to roll out second phase of land audit

The Zimbabwe Government is preparing to start rolling out the second phase of the national agricultural land audit aimed at guaging farm ownership and property sizes. At the same time, farmers are expected to start using the revised 99-year lease ... Read More

World


Trump ordered to make financial records accessible

Judge Amit Mehta, of the US District Court for the District of Columbia, ruled this week that the House Oversight Committee’s 22 April subpoena of Mazars, the company that manages President Donald Trump’s private finances and holds his financial records ... Read More

Impact investors sign global operating pledge

Organisations managing more than $350bn in assets have signed up to the new operating principles for impact management, drawn up by World Bank subsidiary, the International Finance Corporation (IFC). According to an analysis piece on the Out-Law.com site, this ... Read More

Briefs


Zuma backs fraud-accused mayor

* Former President Jacob Zuma has shown his support for eThekwini Mayor Zandile Gumede, and questions the motive behind the corruption charges. Zuma who is also facing corruption related charges in the KZN High Court, has asked Gumede to be strong ... Read More

Funds siphoned

* More than R1m was siphoned from a struggling municipality in the Eastern Cape – and part of the money was then used to renovate the home of ANC provincial chair and premier-designate Oscar Mabuyane. About R45 000 of the money ... Read More

PEC overturns PWC ruling

* The Western Cape ANC's provincial executive committee (PEC) has overturned its provincial working committee's (PWC) decision to suspend treasurer Maurencia Gillion over a controversial election donation from businessman Iqbal Survé. ‘She remains in her position. We have agreed ... Read More