National Treasury responds to banking scandal

By BO Staff Writer The National Treasury has finally responded to the biggest scandal of the year – banks unethically meddling with the rand/dollar currency pricing. The Competition Commission has referred ABSA, Standard Bank, Investec, and 14 international banks, to the Competition Tribunal for prosecution. The flaccid statement by the Treasury, headed by Finance Minister …

VIDEO: President Jacob Zuma responds to SONA debate

By BO Staff Writer Today in parliament, President Jacob Zuma responded to statements made by Members of Parliament (MPs) who debated, over two days, his State of the Nation Address (SONA) which was delivered last week. The reply covers a wide spectrum of subjects, including land return, racism, and the radical transformation of the South …

Political parties react to banks collusion scandal: “white owned banks … are a criminal gang”

By BO Staff Writer Seventeen banks, which have been implicated in a corruption scandal involving fixing the prices of the rand, are a “criminal gang” which is “protected by the South African Reserve Bank (SARB) and Minister of Finance, Pravin Gordhan”, the Black First Land First (BLF) movement said in a statement this morning. The …

Competition Commission says 17 banks must be prosecuted for collusion

By BO Staff Writer Yesterday, the Competition Commission issued a statement which corroborated what many have been saying for a long time – the banks are corrupt! Seventeen banks – three South African, ABSA, Standard Bank and Investec – have been implicated and are up for prosecution, in a collusion case involving “price fixing and …

CALL FOR SUBMISSIONS: New Frank Talk – In Defence of Biko 40 years later

By Athi Mongezeleli Joja The emergence of the discourse on “decolonisation” from within local struggles has engulfed South Africa. As if scrambling for a new figure to fill in a void, political parties, prestigious institutions and so on, undertook pilgrimages to the grave of Steve Biko, writing papers, holding conferences, and others, holding massive rallies …

So, you want radical economic transformation? Breaking up the auditing cartel is a good place to start President Zuma

By Khaya Sithole In 1915, General Louis Botha led the invasion of Namibia. Beyers Naude was born and James Hertzog established the national party’s propaganda machine – Naspers. In 1915, PricewaterhouseCoopers (PwC) started auditing Naspers. In 2017 the South African Constitution turned 21 years old. President Jacob Zuma called for South Africa to implement radical …