South Africa has been fingered in the alleged “improper payments” originating from contracts that the ANC’s investment arm, Chancellor House, for work at the Medupi and Kusile power stations.
As a signatory of the OECD Convention which is aimed at … Read the rest
South Africa has the highest number of dollar millionaires on the African continent and this number is set to rise in coming years, according to Old Mutual’s New World Wealth Africa Report for 2015 released on Wednesday.
The report predicted … Read the rest
Unless South African businesses hand over large chunks of equity to black shareholders, they will no longer be awarded so-called “BEE points” by government, which means that they could be forced out of business. According to the Johannesburg financial newspaper, … Read the rest
Finance Minister Nhlanhla Nene will have his work cut out at next week’s budget to try and reassure disillusioned South Africans that the government still has gas in its tank to pull the economy out of the doldrums.
Twenty years … Read the rest
by Deon van Rensburg
In this series of opinion pieces I will attempt, and more often than not, succeed, in highlighting liberal failures. In the process I hope to shine a very bright light on the inherent hypocrisy associated with … Read the rest
Businessman Richard Maponya criticised the government and black economic empowerment in an interview published in the Sowetan on Monday.
“It (BEE) is not a real thing because it takes away the self-initiative needed from young and up and coming entrepreneurs … Read the rest
Petrochemical giant Sasol has pulled the plug on a shady empowerment deal with union boss Simon Mofokeng and wife Maureen after Business Times exposed how they used fake documents to clinch contracts worth over R300-million.
But this still leaves questions … Read the rest
It was not only the poor who were hard hit last year. As many as 116000 “financially comfortable” households have fallen on bad times.
Slowing economic growth and rising unemployment hit many a household classified as “anchored well”, shifting them … Read the rest
by TAU Bulletin
During the South African Truth and Reconciliation Commission hearings in the late nineties, the Commission declared in its findings that there were four different kinds of truth. The Commission “rejected the popular assumption” that there are only … Read the rest
by Kevin King
A few months ago I read an article entitled “Some perspective for racist whites in SA” by Hanjo. If you haven’t yet read it please do so. In his letter, Hanjo basically says the following … Read the rest
Charities could face ruin over a government proposal that firms could lose black economic empowerment (BEE) points if they donate to charities that do not have 100 percent black beneficiaries.
Some charities believe the proposal means that any firm that … Read the rest
The Daily Maverick should rebaptise itself as “The Cute Conformist”, for that is really what it is, a bunch of people who sound like your average ANC propagandist on the SABC, except they think they are cute.
One such very … Read the rest
by Dan Roodt
Deputy President Motlanthe’s call for black business to become more “cost-competitive” in tendering for state business is another noble-sounding ideal denied by reality.
South Africa is so committed to race preference that there is no turning back. … Read the rest
Black business should deliver affordable, quality products and services if it wants government contracts, ANC secretary general Gwede Mantashe said on Tuesday.
“As we support black business, black business must bring a commitment of delivery, cost-competitive and quality of items … Read the rest