FNB has followed Absa’s cue and cut ties with Survé. It is entirely possible other banks will follow suit – or have already done so.
The bank has cut ties with 24 companies directly or indirectly controlled by Iqbal Survé’s Sekunjalo Investment Holdings. The move is reminiscent of the beginning of the end of the Gupta empire.
The disgraced group’s global settlement proposal hangs in the balance, as claimants clash in court over questions of legality and fairness – including whether the big boys like Christo Wiese are unfairly advantaged.
We’re celebrating our 11th birthday. We’ve asked readers to join in, become amaB Supporters and close our funding gap. We’re almost there – 1% to go!
Yes, today is our 11th birthday. No party hats or streamers though. We’ll be celebrating in the same subdued way we did our 10th: masked up, social distanced and Covid-cautious. But we’ll be asking you to join in.
A 206-page indictment of suspects in the VBS Mutual Bank case has blown the lid off the patronage system beneath the scheme that destroyed the bank as well as the alleged shameless bribery that went with it.
Astonishing sums of public money were poured into a cooking-pot factory project which quickly sank under the weight of mismanagement. Amid the acrimonious fallout, the IDC – made to look foolish – has blacklisted a fellow development funder while court cases are mounting.
Finally, Trasnet and the SIU ask the high court to overturn R54-billion worth of locomotive contracts – the most expensive known to have been affected by state capture.
The rail agency has been hollowed out by years of corruption and maladministration. Despite pronouncements on stabilising the “broken” entity the situation only keeps getting worse. Why? A former Prasa legal manager weighs in with a blistering exit letter which puts the blame right at the top.
The spy agency has confirmed it has halted “bulk surveillance” – the mass interception of electronic communication – after the Constitutional Court ruled earlier this month that there was no law authorising it.
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South Africa’s highest court, the Constitutional Court, handed down a landmark judgment on February 4 that not only protects journalists and their sources from surveillance abuse, but also upheld a lower court’s ruling that the insidious practice of the bulk interception of ordinary citizens’ data and communication is illegal.
Following an amaBhungane exposé, the bank faces tough questions about its relationship with a key state capture enabler. It is largely staying silent.
The Constitutional Court’s ruling in favour of amaBhungane, striking down the unfettered powers of the state to individual and bulk surveillance of data and communications, is a major victory for our rights to privacy.
In the saga of disgraced financial services firm Regiments Capital, one name keeps popping up: Nedbank. After years of digging, we can disclose that the bank incentivised the firm to peddle the bank’s financial products to public sector clients that Regiments was supposed to advise impartially. Together, they raked in hundreds of millions.
Despite having the money for maintenance and repairs, the passenger rail agency has not awarded contracts for several years, leading to a precipitous decline in train availability.
The apex court has confirmed amaBhungane’s landmark high court victory. The State Security Agency must stop bulk interception immediately, journalists’ sources must be protected, and you must be notified after you were bugged.
The Electoral Laws Amendment Bill, intended in part to protect voters’ personal information, will restrict access to the voters’ roll and the information contained in it. The gains are negligible compared with the cost: a potential threat to democracy itself.
Controversial newspaper owner Iqbal Survé continues to side-step the state fund manager’s efforts to reclaim the fortune that its former boss threw his way. Meanwhile ever more of the PIC’s cash is being spent propping up the Survé empire.
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A chrome-rich Limpopo mine remains shuttered while court cases rage on, leaving community members frustrated by the lack of work opportunities. Meanwhile, who benefits?
A difficult year is ending, but the fight for democratic accountability continues. Factual reporting has helped illuminate the way forward. You can help by being an amaB Supporter.