In the news:
Steinhoff claims that ex CEO was part of fraudulent scheme
Retail holding company, Steinhoff, claims that former chief executive officer, Markus Jooste, was part of a “fraudulent scheme”. And they’ve got the emails to prove how he “swindled” the company out of hundreds of millions of rand.
The emails form part of Steinhoff’s court case against British businessman Malcolm King, his son, Nicholas, and their company, Formal Holdings.
According to two Steinhoff subsidiaries, the Kings colluded with Jooste to get money out of the retailer via a series of “sham” loan agreements. They are currently suing the Kings in a British court for R1.6 billion.
Zweli Mkhize received a R6 million “cut” of South Africa’s UIF money
According to the Daily Maverick, in 2018, businessman Lawrence Mulaudzi was paid an R47.5 million advisory fee from an R1.37 billion Public Investment Corporation deal (PIC).
“The R1.37-billion investment was bankrolled with monies from the Unemployment Insurance Fund (UIF).”
It is then alleged that – the very next day – he paid R6 million to a transfer attorney’s account for a townhouse that was bought by the family trust of Zweli Mkhize.
Mulaudzi, however, insists that the payment made to the ZLM Trust had been for a “legitimate business transaction” and denied the alleged kickbacks paid to Mkhize.
Nersa now has more powers due to electricity amendment bill
The newly published Electricity Regulation Amendment Bill gives more clarity about energy regulator Nersa’s role and expands its mandate and some of its powers.
The bill also provides for a new transmission system operator and a competitive multi-market structure in the electricity supply industry.
The new Amendment Bill also makes changes to how Nersa operates. This includes how they mediate and can now also provide binding decisions in disputes among licensees and customers.
Today’s Weather Forecast for South Africa
See the latest weather forecast and warnings across South Africa. From Heat Waves to Tropical Cyclones, stay up to speed with today’s Weather Forecast: 14 February 2022.
What’s for dinner?
Probably the question everyone dreads on a daily basis is, what’s for dinner? Well what about our daily selection of: Haddock Biryani: A spicy but fragrant dish
