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money 2014

Stop Playing With Our Economy To Score Political Points- NPA Boss Appealed

 May 23  2016  15:22 l   

Pretoria – Reports of the imminent arrest of Finance Minister Pravin Gordhan were being used to score political points and had subsequently thrown the rand into turmoil, National Director of Public Prosecutions Shaun Abrahams said on Monday.


“The matter is not on my desk. It will only make its way to me once the investigation has been concluded and recommendations are made to me. I call on all concerned, including the media, politicians, legal commentators and economists, to stop playing with our economy,” Abrahams told reporters at the National Prosecuting Authority’s headquarters in Pretoria.

“Stop deriving political mileage out of this matter, or any other matter. People should not be tried, acquitted or convicted in the court of public opinion. The NPA is constitutionally and legislatively empowered to decide who should or should not be prosecuted.”

He said there were many people trying “to usurp” the powers of the prosecuting authority.

“As you may well know, the NPA is faced with people, including certain politicians, sections of the media and the public, and commentators who on the one hand call on the NPA not to prosecute Minister Gordhan but on the other hand the same call for the prosecution of President Zuma,” said Abrahams.

“These are matters which must be left to the NPA. I cannot imagine a day when the prosecuting authority exercises its responsibilities, legal and constitutional mandate through the dictates of public and or political sentiments or wishes.”

Abrahams said despite the media reports, there were no charges of espionage that were being investigated against Gordhan.

“I wish to make the following emphatically clear. There are no charges of espionage being investigated against Minister Gordhan. There are no charges of espionage being investigated against any other person associated with what has been dubbed the so-called SARS rogue unit,” Abrahams told reporters.

“Although the special director of public prosecutions who heads the priority crime investigation unit would ordinarily make his decision in consultation with the director of public prosecutions on whether or not to prosecute, in this matter the special director concerned will make a recommendation to me on whether or not any person should be prosecuted.”

Abrahams added: “In the event that the minister is implicated, I will make the decision at the conclusion of the investigation as to whether any person or persons must be prosecuted, including the minister.”

He said the Directorate for Priority Crime Investigation (Hawks) was not obliged to disclose to anyone who their suspects were and the nature of the crimes they were probing.

“It is absolutely unheard of. It is not in anyone’s interest for this matter to be investigated in the public domain, for all and sundry to suddenly become experts to comment and advise thereon in circumstances where all the evidence is unknown to such persons, nor is there evidence at his or her disposal,” said Abrahams.

“In the event that evidence implicates any person of having committed a crime, a warning statement will be obtained from the person. He or she will be afforded an opportunity to respond to any criminal allegations.”

He said suspects were always informed “in no uncertain terms”.

Abrahams said even though powers to arrest were in the purview of the police, no one was facing arrest.

“I can assure you that under my authority, no person including Minister Gordhan will be the subject of any arrest or charges being preferred against them in this matter. I implore you to respect the process of the investigation until its conclusion along with any decision thereafter as to whether any person must be prosecuted,” he said.

Media reports earlier this month suggested that Gordhan faced imminent arrest and prosecution on espionage charges relating to the activities of the SA Revenue Services’ so-called “Rogue Unit”. The unit was established while Gordhan was the commissioner of the tax agency.

The reports had an adverse impact on the market, plunging the struggling rand into turmoil.

At the same press briefing, Abrahams announced that the NPA was appealing the decision of the High Court in Pretoria, which ruled that halting President Jacob Zuma’s prosecution in 2009 was irrational.

He said due to the far-reaching significance of the case, “it needs the decision of an appeal court”.

“In principle, the judgement also affects each and every person who is a subject of a prosecutorial consideration and the discretionary powers of a prosecutor which is exercised on a daily basis and at various stages of the process,” Abrahams said.

“The judgement of the full bench of the Pretoria High Court is also a matter that seriously affects the separation of powers.”

He said the high court ruling also had far-reaching ramifications for the for the powers of the NPA.

“In my view, if this is now general principle, then prosecutors are now deluded of much of their powers. Article B of the code of conduct for members of the National Prosecuting Authority reads ‘the prosecutorial discretion to institute and to stop a should be exercised independently in accordance with the prosecution policy and policy directives, and be free from political, public and judicial interference’.”

Last month, the court set aside the decision by former acting national director of public prosecutions Mokotedi Mpshe, to withdraw the raft of charges against Zuma, back in 2009.

Delivering the judgement on April 29 on behalf of a full bench, Judge Aubrey Ledwaba found that the decision taken by Mpshe to drop the corruption charges against Zuma in 2009 was irrational and thus set it aside.

Ledwaba further ruled that the matter needed to be reviewed.

The case around the so-called “Spy Tapes” was brought by the Democratic Alliance which asked the court to review the decision to drop 783 charges of fraud, corruption and racketeering against Zuma.

-African News Agency


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cyril 2014

Coordination of Infrustructure In SA Has Paid Dividends- Ramaphosa

 May 11  2016  21:50 l   

Cape Town - Deputy President Cyril Ramaphosa has mooted investments in the infrastructure and ICT sectors in South Africa and Africa.

Ramaphosa was wooing potential investors at the World Economic Forum on Africa (WEF Africa) in Kigali in Rwanda.

In a session on how innovative partnerships can bridge financing gaps for economic and social infrastructure, Ramaphosa said that “infrastructure has been a key economic driver in South Africa and in the region”.

Full Story

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vodacom 2014

Vodacom To Stop Offering  M-Pesa Mobile Banking

 May 09  2016  10:50 l   

Johannesburg - Vodafone Group’s South African unit Vodacom Group will stop offering its mobile-banking product M-Pesa in the country as the strength of the banking system means fewer customers are taking up the service than in other sub-Saharan African markets.

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VW To Give New Black Suppiers Business Opportunity

 May 05  2016  20:50 l   

Cape Town - Volkswagen Group South Africa (VWSA) wants to work with new black- and women-owned manufacturing suppliers to help South Africa reach its economic transformation goals, it said in a statement on Thursday.

 Full Story

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The African Continent Is Losing More Than R1.16 trillion Through Illicit Outflow

 April 22  2016  22:30 l   

Johannesburg - The African continent was losing more than $80bn (R1.16trn) a year through illicit outflows, former president Thabo Mbeki said on Monday.

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There Are Ways SA Can Avoid Junk Status - Lesiba Mothata

 April 22  2016  22:30 l   

Cape Town - There are ways SA could avoid a ratings downgrade to junk status and turn the tide on the decline, according to Lesiba Mothata, chief economist at Investment Solutions.

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Consumers To Pay 7.64% More For Electricity From July 1st

 April 19  2016 17:30 l   

Cape Town – Consumers who receive their power from municipalities will see electricity prices jump by about 7.64% on July 1, after energy regulator Nersa approved the increase for municipalities this week.

Full Story

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SA Post Office Fails To Pay Leased Cars

 April 14  2016 15:50 l   

Pretoria - The beleaguered South African Post Office stands to lose a fleet of 4 000 cars after failing to pay the leasing company.

Full Story

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South Africans Can Now Apply For Smart ID Cards At Local Banks

 April 11  2016 18:50 l   

Cape Town - South Africans can finally apply for their smart ID cards at local banks following the launch of the eChannel programme.

Full Story

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SA Investors Plan To Make Offer For 10% Of Barclays Africa Group

 April 08  2016 16:50 l   

Johannesburg - A group of South African investors plan to make an offer for 10% of the shares in Barclays Africa Group, a person familiar with the matter said.

Full Story

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SA Trade Deficit Decreased To R1.07bn In February 2016

 March 31  2016 18:15 l   

Cape Town – South Africa’s trade deficit decreased to R1.07bn in February, falling significantly from its revised January deficit of R17.96bn, the SA Revenue Service (Sars) announced on Thursday.

Full Story

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Sanral Accused Of Blaming E-Toll Opponents For Its Financial Woes

 March 29  2016 14:40 l   

Cape Town – E-toll owner Sanral was on Monday accused of blaming its financial woes and credit rating pressures on opponents of the controversial Gauteng road payment system.

Full Story

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Cell C In A Legal Battle With BEE Partner

 March 24  2016 19:40 l   

A LARGE empowerment shareholder at debt-laden cellular services group Cell C is looking to disrupt a much-needed recapitalisation exercise initiated by JSE-listed Blue Label Telecoms.

Full Story

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Gauteng Tolling Equipment Is Unreliable -Outa

 March 22  2016 11:40 l   

Cape Town – Anti e-toll group Outa said on Monday that it has “plenty of evidence” indicating the Gauteng tolling equipment is unreliable.  Full Story

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Chicken War Is Over, US Delivers First Shipment

 March 03  2016 08:50 l   

Cape Town - The arrival of the first shipment of US chicken in South Africa on Monday marked the resolution of a long-standing stalemate between South Africa and the US over poultry imports.   Full Story

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Trevor Manuel Commends Pravin Gordhan For Budget Presentation

 February 25  2016 20:10 l   

Cape Town – Former finance minister Trevor Manuel praised Pravin Gordhan for taking up the challenge and delivering a budget two months after his reappointment. Full Story

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Tax Law Amendment On Retirement Postponed to 2018

 February 18  2016 11:10 l   

Cape Town - For the second year in a row President Jacob Zuma’s government has been forced to backpedal on provisions in the Tax Amendment Act that compel South Africans to put two-thirds of their provident fund savings in a retirement annuity. Full Story

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ANC Courting Business Leaders To Help Rescue SA Economy 

 February 16  2016 11:10 l   

Johannesburg - The ANC has jilted its long-standing labour union allies and is courting business leaders to help it rescue South Africa's economy, which is teetering on the brink of a recession and a downgrade of the nation's credit rating to junk. Full Story

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Gradual Rising House Price Growth In Some Segments 

 February 05  2016 16:00 l   
Cape Town - Nominal year-on-year growth in the average value of middle-segment homes in the South African residential property market remained in single digits in January 2016, according to Jacques du Toit, property analyst at Absa Home Loans.  Full Story 

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The Risk Of A Recession Mounting In SA 

 January 28  2016 11:50 l   
Johannesburg - The risk of a recession in South Africa this year is mounting, making policy decisions more difficult for a central bank battling to balance the need to contain inflation and support a stuttering economy. Full Story

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Portfolio Committee Corrects Its Statement About Outa And E-Toll 

 January 27  2016 12:30 l   
Cape Town - The Portfolio Committee on Transport said on Wednesday that it erroneously stated that the Opposition to Urban Tolling Alliance (Outa) is not opposed to e-tolling. Full Story

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Chinese Tourists Picking Up In SA 

 January 18  2016 19:10 l  
Cape Town - The number of Chinese tourists who visited South Africa in October 2015 increased by 85.6% to 7 902 compared to October 2014, Statistics SA said on Monday.

Full Story

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Regulating OTTs Could Harm The Industry And Consumers - Cell C

 January 14  2016 18:40 l   
Johannesburg - South Africa’s third largest mobile network Cell C says that possible local regulation of over-the-top (OTT) services like WhatsApp could harm the industry and consumers.
OTT services - which range from WhatsApp to Skype and Google Full Story

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Shockwaves As Finance Minister Is Removed    

December 10  2015 19:10 l   

Cape Town - The Association for Savings and Investment South Africa (ASISA) has warned that the shock removal of Nhlanhla Nene as finance minister is worrying. Full Story

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SA Rating Close To Junk Status    

December 07  2015 13:30 l   
Johannesburg - If investors needed reminding about the quandary facing the Reserve Bank, they just got it from two credit-rating companies.  While statements on Friday from Full Story



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