Posts tagged with 'money'

 

Economist Dawie Roodt “South Africa is headed for a Zimbabwe situation” – He’s warning us to ‘take our money elsewhere’

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Financial expert Dawie Roodt has explained the chain of events he believes will see South Africa follow the same path Zimbabwe has.

Roodt wrote in a column for the Huffington Post this week how South Africa’s economic woes will eventually lead to state looting of taxpayers, then savers, and eventually investors.

Where South Africa will get its money from
Given that there is a R50bn tax hole South Africa needs to fill, the state may already be moving onto those with money invested in the country (those with pensions are a particularly vulnerable target). The economist explained that SA looks likely to follow trends set by other states who have drained their reserves:

“In short, once the state’s finances reach a certain level of sustainability, a typical pattern is for a state to first steal from its taxpayers until it runs out of taxpayers, then to steal from its savers until it runs out of savers and then, depending on other things,
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R39 million disappears from Nelson Mandela Memoriam fund but perpetrators are looked over by controversial Public Protector

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The controversial Public Protector  has almost given everybody a reasonable chance of survival who benefited from the R39m stolen from the Nelson Mandela Memoriam.

Instead of being punished, the OB finds that the Director-General who approved the wrongful payments is now solely responsible and accountable for the irregularities.

Of the R39 million awarded to one Carol Bouwer Productions, for the event, R18 million was transferred to the controversial Durban businessman and former ANC president, Jacob Zuma’s finance handler, Mabheleni Ntuli, who reinstated it Zuma’s one wife, Nompumelelo “MaNtuli” Ntuli-Zuma, paid in.

However, it is unclear what really became of all the money, and the suspicion that Jacob Zuma has taken much of it abroad, but no confirmation could be obtained.

-Vryburger
This report does not necessarily reflects the opinion of SA-news

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IT IS ALL ABOUT THE MONEY!: I’m A Single Parent, That Pension Will Help My Family – Dlamini On Parly Exit

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Former Minister Bathabile Dlamini said she did so because she thought she would be more useful if she was outside the legislature mobilising women.

Dlamini has told Eyewitness News she resigned from Parliament because she needed the ministerial pension benefits to take care of her family.

Dlamini spoke to EWN in a wide-ranging interview on Wednesday, a day after she resigned claiming she was made a scapegoat for the South African Social Security Agency.

She was the seventh of eight former ministers to resign from Parliament and she said she did so because she thought she would be more useful if she was outside the legislature, mobilising women.

When asked if she considered the benefits of resigning as a minister, she said: “I’m a single parent, I have responsibilities. That pension is going to help me, if I had a partner, I’d have someone to help [me].”

She further explained that the ministerial pensions were structured unf
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SAPS members in Ekurhuleni arrested for attempting to extort R5 million from mayoral committee

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JOHANNESBURG – Ekurhuleni police have arrested three South African Police Service (SAPS) members for attempting to extort R5 million from a member of the mayoral committee (MMC).

The city said the trio approached councillor Lesiba Mpya claiming they had a dossier containing evidence of alleged corruption against the MMC, Mayor Mzwandile Masina and other senior officials.

It’s understood they demanded R5 million in exchange for making the document disappear.

Acting spokesperson for the mayor Phakamile Mbengashe said the three were arrested following a sting operation by the SAPS and metro police.

“MMC Mpya participated in a sting operation where he made a money drop-off at a venue prescribed by the three accused. Upon handing over the money to the accused, police authorities pounced on the three officers and arrested them,” Mbengashe said.

-EWN
This report does not necessarily reflects the opinion of SA-news.

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South African Municipal Workers’ Union goes after corrupt officials for plundering R88m from workers’ coffers

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The embattled South African Municipal Workers’ Union (Samwu) said on Wednesday that it has mandated its national office bearers to open criminal cases against other persons and companies involved in stealing money from the union account.

This as Samwu confirmed that the workers’ coffers had been plundered of almost R88 million in just three years and said that the report into this wide-scale plundering had been kept under wraps.

Samwu said the bank accounts had a combined balance of just more than R94.5 million by 3 November 2015, but this had drastically decreased and the union’s bank balance was over R6.2 million, and not the R538 which has been widely reported in the media.

“The special CEC has therefore resolved that the attorneys which have been implicated in the report should be removed from the union’s panel of attorneys and also be reported to the law society,” it said.

“Employees who have been im
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R200 mill of drought relief monies intended for KwaZulu Natal gone missing – South Africa’s farmers find themselves in a crisis and as a result, our country’s food security and economy are also in crisis

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The FF Plus is shocked and disgusted by the news that nearly R220 million, which was earmarked for drought relief in KwaZulu Natal, went missing. It is unclear how the money went missing and the FF Plus demands an urgent investigation into the matter so that the guilty parties can be called to account.

The drought has already taken its toll on the agricultural sector with livestock deaths and poor harvests being at the order of the day. There have been enormous livestock losses in the Free State, Northern Cape and Eastern Cape in particular and some of these parts have not had any rain since November 2017.

The government must urgently prioritise drought relief for commercial as well as emerging farmers. The government must also ensure that the process is managed properly so that the money allocated to drought relief is not stolen, as is the case in KwaZulu Natal.

There are cases where service providers were appointed by means of a tender process
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