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Sascoc apologises for some board members no-show in Parliament
21 February 2020, 4:23 PM

The board of the South African Sports Confederation and Olympic Committee (Sascoc) was forced to apologise to Parliament for the failure of seven of its members to honour a scheduled meeting.

The Sascoc board was meant to account to Parliament’s Portfolio Committee on Sport, Arts and Culture on its financial affairs, among other things.

Instead, the oversight committee refused to proceed with the meeting with the board members who did attend.

One of the board members Barry Hendricks told Parliament that his colleagues gave varying reasons for their no-show.

“Sascoc has taken the portfolio committee very seriously and we do apologise for our members not attending. But I think I need to speak on behalf of the organisation when we said that we have taken this matter of turning Sascoc around very seriously,” says Hendricks.

“We have been having several national council meetings to implement the Zulman report. We would like to report back on the progress made as well as other items on the agenda and our preparation for the Olympics.”

In January, Sascoc said it is forging ahead with implementing the recommendations of the Zulman report as they look forward to an early election in March.

This was confirmed by interim President Hendricks.

Hendricks became the interim President at the beginning of January following Gideon Sam’s retirement.

The Zulman report found that Sascoc was dysfunctional and recommended major changes at the sporting body.

SAA irregular expenditure amounted to billions in 2016/2017
21 February 2020, 2:51 PM

The State Capture Commission has heard that irregular expenditure at South African Airways (SAA) amounted to almost R5 billion in the 2016/2017 financial year.

Business executive in the Auditor-General’s office Polani Sokombela told the commission that fruitless and wasteful expenditure amounted to R300 million in that financial year.

He says SAA’s contract system is a mess.

“Chairperson this is not a true reflection because I said yesterday we test and select samples. Management is then required to go and look at the whole population.”

“But in this case management tried to go and revise the whole population but they were faced with the same challenges we were faced with.”

 SAA missed several deadlines to submit its financial statements to Parliament. Watch below for more:

Meanwhile, former chairperson of the SAA board, Dudu Myeni, has denied that it was solely her responsibility to call a board meeting to finalize an Airbus deal that could have saved SAA billions of rands.

SAA and Airbus negotiated a deal where A320 aircraft would be swapped for A330s, without it costing SAA a cent.

Myeni is appearing in the High Court in Pretoria in the case brought by the Organisation of Undoing Tax Abuse  (OUTA) and the SAA Pilots’ Association to declare her a delinquent director.

OUTA’s advocate, Carol Steinberg, told the court the deal was approved long before the deadline of 15 September 2015.

She says as a formality the board had to give authorization to the CFO and CEO to sign the deal to finalise it.

An email that the CFO Wolgang Meyer sent to Myeni on the day of the deadline urging her to call a board meeting to authorise the final stages of the deal was read in court.

Myeni maintains that the responsibility to call a board meeting was never hers alone.

Click below to watch more on Dudu Myeni’s court case:

‘No reports of South Africans affected by coronavirus in China’
19 February 2020, 9:17 PM

The Department of International Relations and Cooperation says as yet there are no reported cases of South Africans in China who have been affected by the coronavirus.

Egypt last week confirmed the first coronavirus case in Africa.

The total number of infections in China stands at 74 000 with over 2000 fatalities. Hubei province is the worst affected.

Dirco Director-General Kgabo Mahoai says all the diplomatic missions in China including the South African embassy and consulate-general are working around the clock to ensure they identify all South Africans currently residing in China.

Authorities prepare South Africa for Corona virus, Related video click below:

Joburg Mayor to take action against irregular appointments
19 February 2020, 8:59 PM

Johannesburg Mayor Geoffrey Makhubo says action will be taken against those responsible for the irregular appointment of more than 2000 security guards in 2019.

The City of Joburg insourced around 5000 guards, after campaigning by the Economic Freedom Fighters (EFF).

Makhubo says the number of officers hired were far more than what was needed. He says he has also discovered some serious irregularities in the appointment process.

He says no action will be taken against the security officers, but anyone involved in irregularly appointing them will be held to account.

Makhubo was addressing the media about the state of the city since taking office in December 2019.

“Currently, we have insourced 5.021 security officers, 2.110 more officers than targeted. The additional 2.110 people employed under the guise of insourcing were illegally recruited and smuggled into the City’s employ without any valid and legal process of employment.”

“This is abuse of the City’s processes to meet party political ends and to create a sitting constituency whose task was to maintain the status-quo in governance.”

SA to establish a sovereign wealth fund, but what is it?
19 February 2020, 8:07 PM

President Cyril Ramaphosa’s announcement of the establishment of a sovereign wealth fund has sparked a lot of debate among economists.

The President gave no detail whatsoever and that has left many wondering where the money is going to come from. But what exactly is a sovereign wealth fund?

According to the World Economic Forum, Sovereign Wealth Fund (SWF) is a mechanism through which countries make investments. A pot of money often derived from oil or other commodities that are then invested in shares, bonds, property or other areas of potential growth.

For more information on the Sovereign Wealth Fund (SWF) click below:

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