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The MEC said he had never received any funds from Pule Mabe. (Photo: X)

Gauteng Education MEC Chiloane implicated in Pule Mabe’s R27 million fraud case

The provincial government leader allegedly received R185 000 from the spoils of the tender

A former FNB employee is accused of stealing more than R15 million from a 92-year-old woman, whose vigilance on her accounts revealed the alleged scam.
(Kyle Venktess/Fin24)

FNB employee up for fraud over R15 million moved from 92-year-old woman’s account

The now-deceased pensioner’s vigilance resulted in the scam to allegedly defraud her investment account being discovered

the country’s government debt to GDP ratio is unsustainable at 73.45%. In other words, our debt stock is worth nearly three-quarters of the total value of goods and services produced in the country in any given year. (Waldo Swiegers/Bloomberg via Getty Images)

GDP data: SA’s economy contracts in first quarter of 2024

The economy did not benefit from the suspended load-shedding initiated in early April

Rent in Cape Town has been notoriously high for years, and now is so unbearable that people are having to leave the Mother City in search of lower living costs elsewhere in the country.
Photographer: Dwayne Senior/Bloomberg via Getty Images

Rise of the digital nomads: ‘Unbearable’ prices force Cape Town renters out

High living costs in the Mother City are driving people to other parts of the country

Gauteng has recorded the highest road fatalities to date during the 2023 festive season, Minister of Transport Sindisiwe Chikunga said on Friday.
(Photo by Darren Stewart/Gallo Images via Getty Images)

Gauteng records South Africa’s highest festive season road crash fatalities so far

Minister of Transport Sindisiwe Chikunga urged drivers to stop and rest during long-distance trips This content is restricted to registered users and subscribers. Get Your Free…

Financial manager up for scamming North West maize mill of R9.1m

Reginald Scholtz allegedly created bogus companies and paid himself in more than 61 transactions

Jason Foster is a co-director of the same company as Richard Marsden.

How R31.5 million was stolen from FNB and Rand Merchant Bank clients

British citizen Richard Marsden apparently orchestrated the defrauding of clients at FNB, Absa and Rand Merchant Bank

Knorx Molelle. Picture: Bulelwa Makeke

‘I didn’t steal R13.9 million’– former NPA director Molelle

Molelle is accused of having received R2 million from the money Mahendren Munsamy allegedly ‘stole’ from former Eskom executive Anoj Singh

The architecture of banking in Africa has long mirrored broader economic and political patterns — from indigenous exchange systems to colonial capitalism.

South Africans can now transfer money instantly via phones

New interbank payment programme PayShap will benefit consumers and small businesses, helping to reduce reliance on cash and boosting safety and convenience

Mahendren Munsamy

‘I’m charged for being black’, says FNB, Sasol R420m fraud accused

Mahendren Munsamy calls charges against him ‘an assault’ on black fuel sellers

National director of public prosecutions Shamila Batohi.   (Photo by Gallo Images / Netwerk24 / Felix Dlangamandla)

Appeals to NPA stall the start of R420 million FNB, Sasol theft trial

Director of public prosecutions Shamila Batohi asked to drop charges in the fraud case involving the bank and the chemicals firm

Mahendren Munsamy

Doctor accused of defrauding FNB and Sasol of R420m

Mahendren Munsamy, who allegedly defrauded the banking and chemicals firms, is applying for bail in a separate R7 million theft case

Gold prices have surged by more than 30% in 2024, repeatedly hitting record highs as global economic uncertainty drives demand for the precious metal.
 (Andrey Rudakov/Bloomberg via Getty Images)

Rate hikes scuff gold’s pandemic polish

Inflation fears should have inspired a run on gold, but the asset may have lost its relevance

Not working: Residents of a Hillbrow building observe the country’s lockdown in March. (Photo by MARCO LONGARI/AFP via Getty Images)

Business isn’t bad – if you’re big

Large corporates have thrived during the pandemic to the detriment of the workforce

Economists widely expect the South African Reserve Bank’s monetary policy committee to once again hold the interest rate at 8.25% when it concludes its meeting on Thursday.

‘A cruel slap’: Reserve Bank weighs inflation risks as the economy struggles

Critics have said the repo rate hike will jeopardise already sluggish economic growth, but others say the gradual increase will have little effect

Security companies, community policing forums and the police have drawn up contingency plans to stop looting and public violence. (Guillem Sartorio/AFP)

Vax passports: Business takes cues from government

The private sector, labour and government have been thrashing out ways to increase vaccinations and to restart the economy

Brazen: When the government announced a relief package for workers whose livelihoods were affected by lockdowns in April 2020, Lindelani Gumede (above and left) allegedly immediately jumped into action, fraudulently registering three existing companies, and one he created, for Ters payments. He is then alleged to have kept the payouts, which should rightfully have gone to the affected workers. (Delwyn Verasamy/M&G)

Luxury SUV allegedly bought with Ters payment fraud

Lindelani Gumede bought himself a luxury Audi Q2 and settled his brother’s R560 000 bond during a spending spree

is battling market saturation and financial instability, raising concerns about its viability

Cell C ‘defrauded’ of R357m over eight years

A former IT executive at the company allegedly led an elaborate fraudulent syndicate for eight years

New era: Standard Bank’s new business model  includes it being a platform for other services and partnerships. Photo: THEGIFT777

Banks battle for relevance in the platform era

While Standard Bank and FNB ward off fintech disruptors, their digital-only competitors battle on the fringes

Growing: Outgoing Telkom chief executive Sipho Maseko leaves behind a stronger telecommunications company, having largely completed the  move from voice and fixed-line to mobile.  (Waldo Swiegers/Bloomberg/Getty)

Telkom’s long game bears fruit

The partly state-owned firm has battled the odds to become the third-biggest mobile operator in SA