15th September 2017
Barclays Africa is reviewing its relationship with KPMG as the auditing firm comes under scrutiny for work on behalf of South African companies linked to the politically connected Gupta family. The nation’s largest lenders, including Barclays Africa’s Absa unit, last year closed bank accounts of businesses tied to the family,… Read More
14th September 2017
South African President Jacob Zuma’s lawyers conceded in a court hearing that a decision by prosecutors to drop bribery and corruption charges against him in 2009 was irrational, opening up the possibility that they will be reinstated. Zuma’s lawyer gave the concession Thursday before the Supreme Court of Appeal in… Read More
13th September 2017
Fraud victims are being targeted for a second time by con-artists sending letters while posing as the police. The letters suggest that fraud losses can be returned, but request that personal details are sent to a South African bank. Read More
13th September 2017
The Save South Africa campaign has called on corporate South Africa to “urgently review business relations with KPMG.” The advocacy group said it put out the call “in light of ongoing revelations about the audit firm’s central role in facilitating state capture.”… Read More
6th September 2017
The BRICS countries (Brazil, Russia, India, China and South Africa), have committed to intensifying their cooperation against terror financing and money laundering, within the framework established by the United Nations, specifically the Financial Action Task Force (FATF). “We call for swift and effective implementation of relevant UNSC Resolutions and the… Read More
5th September 2017
South Africans are fed up with corruption and are blowing the whistle against it loud and clear, the latest analysis of corruption trends released by Corruption Watch indicates. The report read that the number of corruption complaints received in the first half of this year went up by 9.5% compared… Read More
31st August 2017
South Africa’s investigation unit, the Hawks, have confirmed that they are investigating certain aspects of the Gupta emails. Yolisa Makata, head of the Hawks, told MPs in Parliament on Wednesday: “We have a lot of them that we are investigating .We have teams and a team from the NPA [National… Read More
29th August 2017
Duduzane Zuma, a son of South African President Jacob Zuma, said all of his bank accounts have been closed because of pressure on financial institutions from former Finance Minister Pravin Gordhan. Duduzane Zuma’s business relationship with the Gupta family, who have been accused of wielding influence over Zuma and some… Read More
22nd August 2017
President Jacob Zuma signed the Financial Sector Regulation Act, 2017 into law, the Presidency said on Monday. “The Act establishes two new financial sector regulators, the Financial Sector Conduct Authority and the Prudential Authority with jurisdiction over all financial institutions, and to provide them with a range of supervisory… Read More
18th August 2017
South Africa’s High Court said the government can’t intervene in the relationships between banks and their clients and dismissed an application from former Finance Minister Pravin Gordhan for a declaratory order on the matter. “We hold the strong view that this application was clearly unnecessary,” Deputy Judge President Aubrey Ledwaba… Read More