The South African Communist Party (SACP) has voiced its displeasure regarding the decision by the National Treasury to source a new R28 billion loan from the World Bank. The communist party says the decision deepens the country’s subordination to imperialist-controlled global finance capital, reinforcing a neo-colonial debt regime that erodes national sovereignty, undermines democratic development… Continue reading SACP Frowns at National Treasury for Taking R28 Billion Loan With World Bank
Tag: National Treasury
Dead Former Deputy Mayor’s Vehicle Rakes R17 000 in Fuel Cost while Awaiting Roadworthy Test
An internal report tabled before the corruption prone KwaDukuza Local Municipality council has revealed that a vehicle that was part of the mayoral fleet, and was supposedly parked because it was deemed unroadworthy, has raked a fuel bill of R17 216 33 in seven months. What was bizarre was the fact that it is not… Continue reading Dead Former Deputy Mayor’s Vehicle Rakes R17 000 in Fuel Cost while Awaiting Roadworthy Test
EThekwini Municipality Set to Lose R800 Million in Unspent Transport and Townships Infrastructure Grants
The eThekwini Metro in KwaZulu-Natal, run by a coalition comprising the African National Congress (ANC), Economic Freedom Fighters (EFF) and the Inkatha Freedom Party (IFP), is on the verge of losing more than R800 million in transport and township infrastructure grants due to failure to spend the money. On February 14, the National Treasury wrote… Continue reading EThekwini Municipality Set to Lose R800 Million in Unspent Transport and Townships Infrastructure Grants
Matodzi Fingers Ex-Treasury DG In ‘R1m VBS Bribe’
The alleged rot in the numerous failed attempts to keep Limpopo’s notorious banking cartel afloat through the VBS mutual bank has led to the door of South Africa’s National Treasury. Following his 495-year imprisonment sentence (to be served concurrently for 15 years) for a wide-ranging series of charges, including fraud and money laundering, former VBS… Continue reading Matodzi Fingers Ex-Treasury DG In ‘R1m VBS Bribe’
SA Is Making Progress To Exit The FATF Grey List And Requires Collective Action
While South Africa is making steady progress in its efforts to be removed from the Financial Action Task Force (FATF) grey list, it will require “a significant effort” from all relevant authorities in the country to meet the deadline at the end of January 2025 to address remaining shortcomings identified by FATF, according to the… Continue reading SA Is Making Progress To Exit The FATF Grey List And Requires Collective Action