Issue 1369 - 10 March 2020

HEADLINES IN THIS ISSUE

  • SA now ranks 3rd in the world for economic crimes - PwC
  • Aurecon denies tender played role in City of Tshwane being placed under administration
  • Gravy Trains: R500m from failed Prasa locomotives deal ‘fraudulently’ funnelled to trust, private accounts and properties
  • Joburg’s R3bn wasteful spending revealed in auditor-general's report
  • I resigned, why fire me, says ex-PIC executive fired over Ayo deal
  • And more...

 SA now ranks 3rd in the world for economic crimes - PwC

South Africa is now ranked as the third country in the world, after China and India, in terms of having the highest reported incidents of economic crime, according to PwC’s 2020 Global and Economic Crime and Fraud Survey. Fin 24 -3 March 2020 - Click here

 

Aurecon denies tender played role in City of Tshwane being placed under administration

Engineering, design and advisory company Aurecon has denied its tender contributed to the City of Tshwane being placed under administration. News 24-7 March 2020 -Click here

 

Gravy Trains: R500m from failed Prasa locomotives deal ‘fraudulently’ funnelled to trust, private accounts and properties

Almost R500-million from a failed contract for much-needed new locomotives disappeared into a web of private accounts, trusts and companies controlled by or linked to the main role-players in one of South Africa’s largest tender scandals to date. Daily Maverick-3 March 2020 -Click here

 

Joburg’s R3bn wasteful spending revealed in auditor-general's report

A massive R3.5billion in unauthorised, irregular, fruitless and wasteful expenditure has highlighted the alleged dire state of Joburg’s finances. The auditor-general revealed that Joburg’s wasteful and irregular expenditure worsened by R758million in the 2018/19 reporting period, compared to the previous year. Independent online -8 March 2020-Click here

 

I resigned, why fire me, says ex-PIC executive fired over Ayo deal

Fidelis Madavo, the former executive head of listed investments at the PIC whose employment contract was terminated for his role in the R4.3 billion Ayo Technologies transaction, says the company ignored his resignation and opted to axe him instead. Fin 24-5 March 2020-Click here

 

Former minister’s surprising response to corruption allegation

Carrim said he wants an apology from MultiChoice for accusing him of corruption, which he is not guilty of. “I do not want my grandchildren Googling one day that their grandfather, who presented himself as a socialist and as progressive who gave money away, actually took a bribe from eTV,” he said. My Broadband-7 March 2020-Click here

 

Charity World Vision in allegations of corruption and nepotism 

One of Australia’s biggest charities, World Vision, is implicated in a multimillion-dollar corruption scandal that involves AFL stars, a free Bali holiday, nepotism and suspected kickbacks in return for lucrative printing contracts. The Sunday Morning Herald -8 March 2020 -Click here

 

U.A.W. Corruption Case Widens as Former Chief Is Charged

For five years, federal investigators have pieced together a broad pattern of corruption within the United Automobile Workers. They documented the diversion of dues for high living by union officials and found a conspiracy that may have compromised dealings with a leading automaker. The New York Times- 5 March 2020 -Click here

 

Gauteng’s R500 billion plan to build a mega-province – including a new university and smart cities

The Gauteng Provincial Government has published a new report outlining its development plans for the province over the next decade. The documents shows that the construction will be implemented along five development corridors that have distinct industries and different comparative advantages. Business Tech- 8 March 2020 -Click here