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Business & Finance
City Press

City Press

10/25/2020

City Press is a Sunday newspaper founded in 1982 in Johannesburg, South Africa. It is an agenda setting publication, which specialises in politics, investigations, football, and leading opinion and business pages.

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Country:
South Africa
Language:
English
Publisher:
Media 24 Ltd
Frequency:
Back issues only

in this issue

6 min.
calls to axe zuma, ace

As the lobby grows for the ANC to act against secretary-general Ace Magashule, supporters of President Cyril Ramaphosa are starting to argue that until the party acts against his predecessor, Jacob Zuma, indiscipline will remain entrenched in the party. The calls come as the ANC’s national executive committee (NEC) decision earlier this year – that all those implicated in acts of wrongdoing should step aside – is being defied by the party’s structures. This week, the ANC in KwaZulu-Natal reinstated provincial deputy chairperson Mike Mabuyakhulu to his position, despite his facing criminal charges. ANC MP Bongani Bongo – who is facing corruption charges and initially stepped down – also returned to Parliament this week to assume his position as chairperson of the portfolio committee on home affairs. ZUMA’S INFLUENCE UNDERMINING THE PRESIDENT According to…

3 min.
sa post office wars drag on

Axed SA Post Office board member Colleen Makhubele is challenging the decision to remove her from the board, and has instructed her legal team to apply for an urgent court application to set aside the decision. “I have been instructed to file an urgent application to have the decision to have her removed challenged. The decision to have my client removed from the board is flawed in many ways,” said Makhubele’s lawyer Victor Nkhwashu. Makhubele was removed on Friday and sources close to her alleged that she only learnt through the media that she was no longer a board member. In a letter addressed to SA Post Office group company secretary Dawood Dada on Thursday – a day before the board held a special general board meeting to discuss Makhubele’s future at the…

1 min.
correction

Last week (City Press, October 18 2020), we reported on the tussle over the instrumentals for the song titled Intombi Yesgebengu by Babes Wodumo. The ongoing battle over authorisation to use the instrumental is between music production duo Demolition Boiz, and not Distruction Boyz as published. We apologise for the inconvenience the mix-up may have caused. The singer’s stable, West Ink Records’ manager Sbu Ncube was happy to announced that the singer reached multiplatinum status for accumulating more than 28 million streams on YouTube for her album Gqom Queen. One half of Distruction Boyz, Thobani “Que” Mgobhozi, released a solo EP on Friday titled We Don’t Play the Same Gqom. Demolition Boiz co-producer and manager, Magnificent Tshabalala, said the duo was still seeking legal advice regarding the disputed instrumental.…

5 min.
godongwana accused of mismanagement

Irregularities relating to the writing-off of debt incurred in loans, fronting and the victimisation of board members are among allegations that have rocked the Development Bank of Southern Africa (DBSA). At the centre of the uproar is DBSA board chairperson and ANC head of economic transformation Enoch Godongwana. He has been accused of enabling maladministration and deep-rooted corruption, and victimising board members who opposed his views. The allegations against Godongwana and the DBSA are contained in a letter sent on Friday by United Democratic Movement leader Bantu Holomisa to standing committee on public accounts (Scopa) chairperson Mkhuleko Hlengwa. Holomisa asked Scopa to consider conducting a preliminary inquiry to determine whether there was a need for a judicial commission of inquiry into misconduct at the DBSA. City Press has also seen a letter dated October 15…

4 min.
crackdown on e-toll bills

Thousands of Gauteng motorists who refuse to pay their e-tolls could be fined R500 every time they drive under a toll gantry from July next year. In addition, they will have to pay a R100 levy for every one of these fines. In the case of companies, the fines will be R1 000 per transgression. These are some of the proposals made in amendments to the Administrative Adjudication of Road Traffic Offences (Aarto) Act, which government plans to implement nationwide in nine months’ time. If these regulations are implemented in their current form, a return trip from Sandton to Pretoria could cost an individual motorist R4 000 in fines and a further R800 in additional levies, while a company could pay R8 000 and R800 in additional levies. If defaulters pay these fines within…

4 min.
papgeld after a 10-year hiatus

The niece of a former Cabinet minister and ANC stalwart has taken businessperson Raisaka Masebelanga to court to force him pay papgeld. The applicant, who cannot be named to protect the identity of her son, previously worked for the ANC and in media circles. She slapped Masebelanga with a summons demanding that he fork out R648 000 for defaulting on payments from July 2010 to July last year. Details about the case are contained in papers filed at the Johannesburg High Court on October 15. According to a letter dated September 30, written by Terrence Mokale on behalf of Masebelanga, the latter is aware of the papgeld demands and confirmed defaulting on the payments. In the letter, Mokale also made an offer to pay R4 000 in addition to the R6 000 he…