South African regulator seeks to fine banks for rigging rand
16th February 2017
South African regulator seeks to fine banks for rigging rand
A South African antitrust regulator said it found that more than a dozen international and local banks colluded to manipulate foreign-currency trades and recommended some of them be fined 10 percent of their annual turnover. The Competition Commission identified lenders including Bank of America Merrill Lynch, JPMorgan Chase & Co., BNP… Read More
South Africa: Tighten up on blocking cyber crime or face financial ruin
14th February 2017
South Africa: Tighten up on blocking cyber crime or face financial ruin
South Africa was hit by more cyber attacks than any other country in Africa in one year but experts say the private and public sectors are not taking the threat seriously enough. Read More
Former British spy’s investigation ‘revealed South African bank corruption
3rd February 2017
Former British spy’s investigation ‘revealed South African bank corruption
Along-hidden, secret report by a former senior MI6 officer has triggered a financial scandal after allegedly uncovering evidence South African banks “looted the state” during the apartheid regime. Read More
How corruption and bad policies are strangling South Africa
25th November 2016
How corruption and bad policies are strangling South Africa
What explains this black hole in the economy? The answer is almost entirely poor governance by Jacob Zuma, a president who may soon face 783 charges of fraud, corruption and racketeering. Read More
South Africa’s Zuma ‘not afraid of jail’ amid corruption accusations
7th November 2016
South Africa’s Zuma ‘not afraid of jail’ amid corruption accusations
South Africa's embattled President Jacob Zuma has said he is not scared of going to prison, days after an investigation found evidence of possible government corruption. Read More
South Africa: Drunk driving cases hit corruption wobble
3rd November 2016
South Africa: Drunk driving cases hit corruption wobble
Drunk driving cases closed even before blood analysis reports were filed, reports that went missing and incorrect statements were some of the damning findings made by the Independent Police Investigative Directorate in a probe into corruption in drunk driving cases in Durban. Ipid spokesman Moses Dlamini said on Wednesday the… Read More
South Africa: Jacob Zuma report points to possible corruption
2nd November 2016
South Africa: Jacob Zuma report points to possible corruption
An investigation into South Africa’s President Jacob Zuma has found evidence of possible corruption at the top level of his government. In the report, former Public Protector Thuli Madonsela recommends Mr Zuma establish a judicial commission of inquiry within 30 days. Mr Zuma is accused of an improper relationship… Read More
South Africa: Zuma backs down on bid to block corruption report
2nd November 2016
South Africa: Zuma backs down on bid to block corruption report
South Africa’s President Jacob Zuma has abandoned his court bid to block the release of a report by former anti-corruption chief Thuli Madonsela. She investigated allegations that he let the wealthy Gupta family wield undue influence in his government. Mr Zuma’s lawyer informed the High Court in the capital,… Read More
South African Rand Jumps After Fraud Charges Against Finance Minister Pravin Gordhan Are Dropped
31st October 2016
South African Rand Jumps After Fraud Charges Against Finance Minister Pravin Gordhan Are Dropped
South Africa’s currency jumped on Monday after the country’s national prosecutor dropped fraud charges against Finance Minister Pravin Gordhan, the latest chapter in a battle for control of the ruling African National Congress that has rattled markets in Africa’s most-developed economy. National Prosecuting Authority chief Sean Abrahams said in Pretoria… Read More
South Africa: De Lille to fight for R430m
31st October 2016
South Africa: De Lille to fight for R430m
The City of Cape Town launched a scathing attack on the government’s settlement with the construction companies implicated in collusion during the construction of stadiums for the 2010 Fifa World Cup, saying the businesses were allowed to get away with corruption “scot-free”. The City’s criticism follows the presidential Infrastructure Co-ordinating… Read More
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