By Prinesha Naidoo This article was originally published on the Moneyweb website. South Africa’s largest banks stand to face a R60 billion claim related to their conduct in attaching and selling the homes of defaulting debtors at prices below market value. Advocate Douglas Shaw filed an application on Wednesday for direct access at the Constitutional …
By Andile Mngxitama All indications are that the Minister of Finance, Mr Pravin Gordhan, shall be recalled within days. It’s no longer a matter of if, but a matter of when. This presents the nation and those who seek a move from the colonial structure of the economy into a more pro-black economic dispensation, with …
By BO Staff Writer Today, parliament’s Ethics Committee released the Register of Interests for Members of Parliament (MPs). ENCA journalist, Lester Kiewit tweeted various pages of the thick book of truths. Kiewit tweeted four pages of declared interests of the Deputy President, Cyril Ramaphosa who has shares in multinational companies like McDonald’s, received a litany …
By BO Staff Writer On Friday, the Black First Land First (BLF) movement marched to the South African Reserve Bank (SARB) to demand that the institution act on the Public Protector’s preliminary report which found that ABSA illegally benefited from apartheid cash injections from the SARB. BLF joined the ANC Youth League (ANCYL) recently in …
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 …
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 …
By BO Staff Writer The chief executive officer (CEO) of Bank of Baroda’s South African unit, Sanjay Agarwal, died from a heart attack last week. The Bank of Baroda took over most of the banking functions of the partly Gupta-owned businesses under the Oakbay stable, after the white-owned South African banking cartel unlawfully shut down …
By Khaya S Sithole The second week in September reminds us of the death of Stephen Bantubonke Biko and the demise of Black Consciousness. It marked this year the 39th anniversary of the assassination of Biko at the hands of the apartheid government. The most ironic element of this week is that the one individual …
