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Khulekani Magubane

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Khulekani Magubane

Khulekani Magubane is a senior financial reporter for Fin24. 

Public Enterprises Minister Pravin Gordhan. (David Harrison/M&G)

Gordhan’s lawyers hit out at Public Protector over ‘rogue unit’ probe

Gordhan asked for and was granted an extension to reply to the allegations. He now has until Friday, May 3, to submit his answers

In a note to shareholders, Tiger Brands said no specific damages were being claimed. The first stage of the class action is concerned with liability, and not the cost of damages, it said.

Tiger Brands receives listeriosis class action summons, vows to fight it

In February, the Johannesburg high court determined that Richard Spoor Attorneys could go ahead with a class action application

Former acting Eskom CEO Matshela Koko. (Madelene Cronje/M&G)

Koko slams graft allegations, says his track record speaks for itself

As testimony implicating him in wrongdoing mounts, the former acting Eskom CEO has acted to distance himself

The committee drafted a shortlist of 24 candidates last week, from an initial pool of over 300. (Delwyn Verasamy/M&G)

SABC board hopefuls take the hot seat

The committee drafted a shortlist of 24 candidates last week, from an initial pool of over 300

Gigaba has maintained that he did not perjure himself when he denied approving the operations of Fireblade Aviation at OR Tambo International Airport.

Parliament to get update on Fireblade saga

It will be the first time the Department of Home Affairs has briefed Parliament on this matter since Malusi Gigaba resigned in November last year

Opposition parties have slammed the department of defence and state-owned military manufacturer Denel after the Special Investigating Unit (SIU) told parliament it had uncovered irregularities in procurements and the awarding of contracts

Denel suffers over R1.7bn loss, expects more in future

The state-owned arms company has yet to submit an annual report for the 2017/18 financial year

While the report is not accusatory in nature, it recommends that those who are implicated in governance failures at public entities present their versions at the Zondo commission. (Gallo)

Who’s who in Parly’s report on the Eskom inquiry?

Parliament’s portfolio committee on public enterprises adopted its final report into allegations of state capture at Eskom and Transnet on Wednesday

In March, Moody’s downgraded Eskom’s credit ratings from B2 from B1, citing an absence of concrete plans to place its business on a sound financial footing.(Madelene Cronje/M&G)

Parly committee recommends Eskom, Transnet executives testify before Zondo commission

The report was well over a year in the making and is chiefly based on the evidence presented during the committee’s inquiry last year

(Delwyn Verasamy/M&G)

SAA needs R3.5 billion by March, says interim CFO

SAA has been working closely with National Treasury and the department of public enterprises to steer itself to profitability

‘This payout will be fully funded from Momentum’s profits and not from our clients’ premiums,’ the insurer said in a statement released on Tuesday.

Momentum changes tune: Pays out death benefit to widow

Momentum has created a policy to ‘pay out an amount equal to the death benefit in the case of violent crime, regardless of previous medical history’

Broadcaster bodies say claims that a recent skills audit is unrelated to retrenchments are ‘irrational’

We need R3bn to avoid collapse, SABC tells Scopa

Board chair Bongumusa Makhathini told Scopa the state broadcaster needs a R3-billion government guarantee to avoid looming collapse in March

The United Nations special rapporteur on data and privacy protection says South Africa is dragging its feet behind other countries when it comes to implementing legislation that is supposed to safeguard the personal information of citizens.

We soon won’t be able to pay salaries at SABC, Parliament hears

An SABC board member told Parliament that by February, the public broadcaster would not be able to pay full salaries

Mavuso said the department was working on a memorandum and policy to guide such operations, as applications for similar terminals were in the works for terminals in Cape Town and George. (Fireblade Aviation)

No policies, MOU in place for Fireblade, Parliament hears

The minister says he will consult with Cabinet colleagues on how best to formalise the arrangement and create a policy

Gigaba has maintained that he did not perjure himself when he denied approving the operations of Fireblade Aviation at OR Tambo International Airport.

BLF threatens bribery charges against Oppenheimers

​Black First Land First announced its intention on Tuesday to lodge fraud, bribery and corruption complaints with police against the Oppenheimers

Nedbank did not allude to KPMG’s reported links to various governance scandals.

‘We are disappointed, but expect others to follow’ — KPMG on Nedbank

Nedbank announced on Monday that Ernst & Young and Deloitte & Touche would take over its external auditing

The acceptance of the Bill was put to a vote, which led to 83 votes no, 194 votes yes and no abstentions. The Bill will be sent to the National Council of Provinces for concurrence (David Harrison/M&G)

Competition Amendment Bill passed: What this means for your business

The Bill seeks to close loopholes in the current Competition Act, and define contraventions and uncompetitive conduct by companies more explicitly

Molefe says the entity sent Gama a letter of demand to pay back R151-million lost under his watch. (Lisa Hnatowicz/Gallo Images)

Gama is both wrong and fired, Molefe insists

Popo Molefe has dismissed Siyabonga Gama’s interpretation of his contract with the entity, as well as a recent court determination

The reward for the cop charging Arron Banks’s former partner with criminal activities was allegedly property worth R20-million. (Getty Images)

AG questions Prasa’s future as mismanagement, burnt trains take a toll

Besides recovering from instances of past mismanagement, Prasa is also facing incidences of damaged carriages and passenger infrastructure

Dondo Mogajane told the standing committee in Parliament on Tuesday that the misplacement of the memo in question for a financial management program caused irregular expenditure to reflect as R769.2-million (Elmond Jiyane/GCIS)

Treasury seeking condonement for R769m irregular spend caused by ‘lost memo’

National Treasury will need approval from Parliament’s standing committee on public accounts if it wants the irregular expenditure condoned

KPMG partner Sipho Malaba was aware of nearly R1-billion cash shortage at VBS Mutual Bank, but cleared its financials anyway. (Alon Skuy/Gallo Images)

KPMG vows to work with Reserve Bank in wake of damning VBS report

KPMG executive chairperson Wiseman Nkuhlu says the firm will take stock of the investigation and cooperate with the Reserve Bank