Gordhan Axing – Why the Rand Is Remarkably Calm

[News24Wire] Although negative, the rand’s reaction to President Jacob Zuma’s Cabinet reshuffle late on Thursday evening has not been as aggressive as one would have imagined, Tumisho Grater, economic strategist at Novare Actuaries & Consultants, said on Friday.

[News24Wire] Although negative, the rand's reaction to President Jacob Zuma's Cabinet reshuffle late on Thursday evening has not been as aggressive as one would have imagined, Tumisho Grater, economic strategist at Novare Actuaries & Consultants, said on Friday.

source: AllAfrica News: South Africa

Gigaba Deployed to Treasury for Guptas – Save SA

[News24Wire] Malusi Gigaba – who will be sworn in as finance minister at 18:00 on Friday – has been deployed to Treasury to perform a particular agenda for the Guptas, Save SA said on Friday.

[News24Wire] Malusi Gigaba - who will be sworn in as finance minister at 18:00 on Friday - has been deployed to Treasury to perform a particular agenda for the Guptas, Save SA said on Friday.

source: AllAfrica News: South Africa

SA Has Strong Case to Remain Investment Grade – Gordhan

[News24Wire] Outgoing Finance Minister Pravin Gordan said work to restore confidence in the economy among investors, businesses and rating agencies has not been undone.

[News24Wire] Outgoing Finance Minister Pravin Gordan said work to restore confidence in the economy among investors, businesses and rating agencies has not been undone.

source: AllAfrica News: South Africa

Kathrada Foundation and SACP to Hold Own Memorial for the Struggle Stalwart

[News24Wire] The Ahmed Kathrada Foundation and SA Communist Party (SACP) in Gauteng will host their own memorial service for the struggle stalwart on Saturday after the official government event was postponed.

[News24Wire] The Ahmed Kathrada Foundation and SA Communist Party (SACP) in Gauteng will host their own memorial service for the struggle stalwart on Saturday after the official government event was postponed.

source: AllAfrica News: South Africa

High Court Dismisses DA Bid to Halt Cabinet Reshuffle

[News24Wire] The Western Cape High Court has dismissed the Democratic Alliance’s bid to have the swearing in of President Jacob Zuma’s new Cabinet ministers interdicted.

[News24Wire] The Western Cape High Court has dismissed the Democratic Alliance's bid to have the swearing in of President Jacob Zuma's new Cabinet ministers interdicted.

source: AllAfrica News: South Africa

Dlamini Misses Deadline to File Sassa Affidavit At Concourt

[News24Wire] Social Development Minister Bathabile Dlamini failed to meet the deadline on Friday to submit an affidavit to the Constitutional Court on why she should not be held personally liable for legal costs in terms of the social grants case.

[News24Wire] Social Development Minister Bathabile Dlamini failed to meet the deadline on Friday to submit an affidavit to the Constitutional Court on why she should not be held personally liable for legal costs in terms of the social grants case.

source: AllAfrica News: South Africa

Opposition Leader Claims ZRA In K140 Million Corrupt Deal

Opposition leader Saviour Chishimba claims the Zambia Revenue Authority is engaged in corrupt deal that will cost the country over K140 million. Chishimba has issued a statement demanding answers. BELOW IS THE STATEMENT K140 MILLION CORRUPTION ON THE TENDER FOR … Continued

The post Opposition Leader Claims ZRA In K140 Million Corrupt Deal appeared first on Zambia Reports.

Opposition leader Saviour Chishimba claims the Zambia Revenue Authority is engaged in corrupt deal that will cost the country over K140 million. Chishimba has issued a statement demanding answers. BELOW IS THE STATEMENT K140 MILLION CORRUPTION ON THE TENDER FOR THE FISCALISATION PROJECT UNDER THE ZAMBIA REVENUE AUTHORITY (ZRA) – #BringBackOurMoney! In delivering on our promise of redefining opposition politics by providing credible and evidenced-based checks and balances to the government, the United Progressive People (UPP) has devised a highly advanced system to monitor the use of public resources in all the line ministries and statutory corporations. The corrupt practices, which have spread across all government wings, have reached alarming levels. Our dossiers clearly indicate that Chinese companies have become conduits of plunder and paymasters for politicians and senior civil servants. The latest corrupt practices on the K140 milllion (US$14 million) fiscalisation project under the Zambia Revenue Authority (ZRA) is another clear case of how public officers are conniving with bogus Chinese investors to plunder public resources. We in the UPP have indisputable evidence on how the Chinese have been dubiously awarded the tender for the “Design, supply, delivery, installation, supervision, configuration, testing and commissioning of an Invoicing Management System (Electronic Fiscal Devices).†While the proposed contract price by the Chinese company called Righlux Services and Inspur Group (Joint Venture) is K84, 017, 576.10, the total funding for the project is K140 million. Therefore, this whole amount would end up being committed to the project in line with the practice, under the PF-MMD regime, of inflating contract prices during final negotiations with contractors. There are many credible companies with proper roots in Zambia and Africa that have the capacity to undertake this project, but due to massive Chinese corruption, Zambians whose pockets are not big enough to pay upfront bribes have been left out. The UPP Intelligence Unit has done due diligence, which reveals that the chosen Chinese company failed to deliver under the fiscalisation project of the Zimbabwe Revenue Authority (ZIMRA). ZIMRA suspended its senior officials in December 2016 over the corrupt practices associated with Inspur. Worse enough, the prices that Inspur sold the Electronic Fiscal Devices (EFDs) to business houses in Zimbabwe was more than triple the normal market price. The EFDs were as high as US$1, 700. In addition to the high cost of EFDs, the whole project was tardy and associated with numerous technical bottlenecks which resulted in high revenue leakages in Zimbabwe. With this overwhelming evidence before us, it is insane and foolish on the part of ZRA to pay a blind eye to the rot driven by Inspur in Zimbabwe and decide to recycle corruption in Zambia. Enough is enough! The Zambia Revenue Authority must take note that it occupies a sacred position of collecting taxes on behalf of the people of Zambia. Simply put, ZRA is the financial soul of the nation and we in the UPP do not expect acts of plunder by the authority. UPP shall not allow Zambian businesses to be subjected to the fiscalisation project which will put them at the mercy of the corrupt Chinese who would certainly supply defective EFDs at a very high cost as evidenced by the Zimbabwe case. Zambian businesses are already facing liquidity problems because of the high cost of doing business and corruption. All public contracts have now become a special preserve of the Chinese, Ministers and the Presidency. We give ZRA a seven day ultimatum to cancel the tender and re-evaluate the bids. The ACC must fully be involved in monitoring the whole process. The other cases that are still very active before the UPP, under the #BringBackOurMoney! crusade, on behalf of the people of Zambia, include the following: 1. The appointment of the tribunal to probe Hon. Dora Siliya over the K345 million maize exportation scandal; 2. The K1.23 billion financial scandals of the National Pension Scheme Authority (NAPSA); 3. The corruption by Ministers in collusion with the Public and Private Drivers Association of Zambia (PPDAZ); 4. The corruption of the Ministry of Youth and Sport in respect of youth empowerment funds and the striping of assets of NYDC; and 5. The decade long corruption of the Road Development Agency (RDA). The dossiers before UPP show that, unless we unite and fight for a new Zambia, the future of our nation is bleak under the PF regime. Corruption and bad leadership have become fully entrenched in the running of government. The insensitivity that the regime has shown in the reckless use of public resources is even more worrisome. We urge the people of Zambia to be fully involved in the fight against corruption. The ACC is under siege at the hands of State House which has become the centre for the award of public contracts and corruption. Let us pray and fast for Zambia – let us ask the LORD to arise and defend the poor and suffering masses in our nation. God bless our nation! Saviour Chishimba UPP PRESIDENT The post Opposition Leader Claims ZRA In K140 Million Corrupt Deal appeared first on Zambia Reports.

source: Zambia Reports

‘Crooks Who Only Care About Their Pockets’

[GroundUp] Recipients of social grants from Mitchells Plain, Khayelitsha and surrounding areas voiced their concerns over deductions from their social grants at a meeting in Mitchells Plain organised by Right2Know on Friday.

[GroundUp] Recipients of social grants from Mitchells Plain, Khayelitsha and surrounding areas voiced their concerns over deductions from their social grants at a meeting in Mitchells Plain organised by Right2Know on Friday.

source: AllAfrica News: South Africa

I Was Asleep At Time of Robbery – Alleged Chief Justice Burglary Mastermind

[News24Wire] The alleged mastermind behind the break-in at the Office of the Chief Justice on Friday denied any knowledge about the 15 computers which were stolen from the premises.

[News24Wire] The alleged mastermind behind the break-in at the Office of the Chief Justice on Friday denied any knowledge about the 15 computers which were stolen from the premises.

source: AllAfrica News: South Africa