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Sunil Varghese
Dan Matjila frustrated me: Varghese
18 March 2019, 8:40 PM

The Public Investment Corporation’s (PIC) Portfolio Manager Sunil Varghese has told the PIC Commission of Inquiry in Pretoria that the conduct of former CEO Dr Dan Matjila frustrated him.

In his submission to the Commission, Varghase accused Matjila of signing-off the Ayo transaction before the final approval of the committee responsible.

Several PIC executives have been suspended for their involvement in the processes of the irregular R4.3 billion investment into Ayo Technology Solutions.

Varghese says the process to invest in Ayo and its subsequent conditional listing were rushed and didn’t give the team enough time to conduct due diligence.

“Around 11:30am, a character subscription form was signed by Mr Molebatsi and Dr Matjila, upon hearing this I went to Mr Molebatsi and expressed by frustration and disappointment with the CEO’s action ahead of the PMC approval. This was for the first time that something like this in my career in the PIC.”

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Malusi Gigaba
DA calls for Gigaba to be held accountable
18 March 2019, 7:50 PM

Democratic Alliance Shadow Minister of Home Affairs, Haniff Hoosen, says strong action must be taken against former Minister Malusi Gigaba for approving the early naturalisation of the Gupta family without following due procedures.

Parliament’s Portfolio Committee on Home Affairs has found that the early naturalisation of the Gupta family was fraudulent. It has concluded its investigation into the naturalisation of the influential family.

According to the committee, the Guptas did not comply with the requirements to renounce Indian citizenship.

It recommends that criminal charges be taken against the Guptas and intermediary Ashu Chawla for falsifying naturalisation citizenship.

Hoosen says Gigaba must be held accountable as he knew what he was doing.

“This whole process went so quickly. There are number of people who apply for citizenship and it takes years to get it, but the family received it in a matter of 30-days. The appeal was made to Gigaba and ultimately, he put his signature on to that application. So, there is no way he could have been duped. He claimed to be senior and smart. It’s clear to us that he was directly involved and he knew exactly what he was doing and we want him to be held accountable in that final report.”

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Sindiso Magaqa
KZN ANC to decide fate of mayor implicated in murder case
18 March 2019, 4:46 PM

The African National Congress (ANC) in KwaZulu-Natal says it does not rule out the possibility of removing its mayor who has been arrested in connection with the murder of former ANC Youth League Secretary-General, Sindiso Magaqa in 2017.

The mayor from a municipality in southern KwaZulu-Natal was arrested on Sunday by the police’s National Task Team investigating political killings in the province.

Speaking outside the uMzimkhulu Magistrate’s Court, Provincial Executive Committee member Ricardo Mthembu says the KwaZulu-Natal ANC leadership is yet to meet to discuss the mayor’s arrest.

“We are going to take a stance. This is a serious case. We sympathise with Magaqa family. On the matter that has to do with our leader, we are going to seat down as a province and to pronounce ourselves on the matter. Of course,, there is a possibility.”

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Angela Merkel
Germany says violent Paris riots were ‘terrifying’
18 March 2019, 2:16 PM

A German government spokesman said Monday that the street violence that rocked central Paris during weekend “yellow vest” protests was “terrifying”.

“The outbreak of violence and destructive rage in Paris this past weekend was terrifying,” said Chancellor Angela Merkel‘s spokesman Steffen Seibert.

“It has nothing to do with peaceful, democratic protests and the German government supports the French government in its efforts to guarantee public order.”

The famous Champs-Elysees avenue in Paris was hit by an arson and looting rampage by black-clad anarchists during a “yellow vest” protest Saturday.

Police appeared overwhelmed as demonstrators ran amok on the avenue, with retailers there saying some 80 shops and businesses were vandalised.

Police used tear gas, stun grenades and water cannon to repel protesters who gathered at the foot of the Arc de Triomphe war memorial, which had already been sacked on December 1.

It was the 18th consecutive weekend of demonstrations which began in mid-November as a protest against fuel price hikes but then morphed into a potent anti-government movement.

Money
Rand takes knock after Nersa increases electricity tariffs
8 March 2019, 5:36 AM

The rand has taken a 1.5% dive on the back of the European Central Bank’s decision not to hike rates and Nersa’s decision to allow Eskom a substantial 13.8% tariff increase.

The rand was trading at around R14.55 on Thursday night. The local currency has battled to recover since Eskom introduced loadshedding last month.

Economists have warned that consumers are already feeling the weight of tax increases and a declining standard of living and the new Eskom tariff increases will only make matters worse.

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