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Daily Podcast – October 11, 2018

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Daily Podcast – October 11, 2018

11th October 2018

By: Sane Dhlamini
Creamer Media Researcher and Writer

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For Creamer Media in Johannesburg, I’m Sane Dhlamini.

Making headlines: Hawks and NPA teams already at work on VBS fraud investigation, South Africa gets $35-billion in investment pledges towards a $100-billion goal And, Sassa biometric system suspended as talks start to end strike

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Hawks and NPA teams already at work on VBS fraud investigation

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The final investigation report into the R1.8-billion fraud at VBS Mutual Bank released yesterday cannot be used as evidence to prosecute any individuals, but is serving as a "useful guide" to prosecutors and police investigators.

This is according to National Prosecuting Authority spokesperson Luvuyo Mfaku as well as Hawks spokesperson, Brigadier Hangwani Mulaudzi.

Advocate Terry Motau was appointed to lead the investigation and his report, titled "The great bank heist", set out in detail how the collapse of VBS was brought about by a series of fraudulent transactions worth billions, involving more than 50 individuals.

A news agency previously reported that Brian Shivambu, the brother of EFF deputy president Floyd Shivambu, received R16-million from the now collapsed VBS Mutual Bank.

 

South Africa gets $35-billion in investment pledges towards a $100-billion goal

South Africa has investment commitments of $35-billion as part of plans by President Cyril Ramaphosa to attract $100-billion over the next five years to revive the country's flagging economy, his economic adviser Trudi Makhaya has said.

Ramaphosa has appointed a team of investment envoys - bankers, former ministers, business people, as well as Makhaya - to scour the world's financial capitals for new investors.

The South African government hopes to raise more money from companies and governments at an investment summit in Johannesburg on October 26, part of efforts to fulfil Ramaphosa's promise to create jobs.

 

Sassa biometric system suspended as talks start to end strike

The social development department has agreed to suspend the biometric enrolment of South African Social Security Agency beneficiaries after a meeting with the National Education, Health and Allied Workers' Union yesterday.

Thousands of Sassa employees embarked on a strike over several complaints, central of which was the biometric system.

They said biometrics was a new function they should be paid extra for.

Nehawu general secretary Zola Saphetha said an agreement on various issues came about after a meeting between Social Development Minister Susan Shabangu and union president Mzwandile Makwayiba.

 

That’s a roundup of news making headlines today

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