UK banks face probe over South African corruption amid FBI investigation of Zuma and Gupta

UK banks face probe over South African corruption amid FBI investigation of Zuma and Gupta
Lord Hain warns banks may “inadvertently have been conduits” for laundered money in South Africa. The FBI is also investigating US links to the scandal. The UK Treasury has asked the Serious Fraud Office and financial regulators to investigate whether HSBC …
UK banks face probe over South African corruption amid FBI investigation of Zuma and Gupta

State Capture: UK Serious Fraud Office aware of Guptas' overseas banking networks

State Capture: UK Serious Fraud Office aware of Guptas' overseas banking networks
On Thursday, Labour peer Lord Peter Hain of Neath tabled a question in the British House of Lords asking Chancellor of the Exchequer, Philip Hammond, to ensure that UK law enforcement agencies, including the Serious Fraud Office, investigate HBSC, Standard …
State Capture: UK Serious Fraud Office aware of Guptas' overseas banking networks

South Africa's poor tax revenues to delay fiscal consolidation

South Africa's poor tax revenues to delay fiscal consolidation
South Africa’s finance minister is expected to address concerns … Low tax receipts means the consolidated budget deficit will widen to 3.9% of GDP in 2017/18 from a February Treasury estimate of 3.4% for the previous fiscal year, according to medians …
South Africa's poor tax revenues to delay fiscal consolidation

South Africa's poor tax revenues to delay fiscal consolidation: Reuters poll

South Africa's poor tax revenues to delay fiscal consolidation: Reuters poll
JOHANNESBURG (Reuters) – South Africa’s finance minister is expected to address … budget deficit will widen to 3.9 percent of GDP in 2017/18 from a February Treasury estimate of 3.4 percent for the previous fiscal year, according to medians in the …
South Africa's poor tax revenues to delay fiscal consolidation: Reuters poll

Philip Hammond launches probe into British bank ‘money laundering’ to South Africa

Philip Hammond launches probe into British bank ‘money laundering’ to South Africa
The Treasury added: “The government takes such allegations … the former Cabinet minister that hundreds of millions of pounds had found their way to South Africa from Hong Kong and Dubai. Speaking to the Guardian, Mr Hain said: “As a former anti …
Philip Hammond launches probe into British bank ‘money laundering’ to South Africa

Parliament: Minister Zwane and former Eskom CEO Dames provide opposing takes on State Capture

Parliament: Minister Zwane and former Eskom CEO Dames provide opposing takes on State Capture
Mineral Resources Minister Mosebenzi Zwane on Wednesday made it clear he took exception to facing questions on State Capture, rather than “real issues that affect our people” and his department’s “many positives… nobody knows about because we are …
Parliament: Minister Zwane and former Eskom CEO Dames provide opposing takes on State Capture

Dames: Eskom state capture probe should've happened sooner

Dames: Eskom state capture probe should've happened sooner
CAPE TOWN – Former Eskom CEO Brian Dames has commended lawmakers for launching a probe into state capture at the power utility. But he says it’s a move they should have taken action much sooner. Dames, who served as head of the parastatal between 2010 …
Dames: Eskom state capture probe should've happened sooner

South Africa's cabinet changes rattle bonds, rand extends losses

South Africa's cabinet changes rattle bonds, rand extends losses
South African government bonds weakened and the rand extended … “The auction also did not clear as well as expected so that also caused bonds to weaken.” The Treasury sold a total of $190m worth of its 2035 , 2040 and 2044 instruments on Tuesday.
South Africa's cabinet changes rattle bonds, rand extends losses

Guptas unlikely to appear before Parliament’s state capture inquiry

Guptas unlikely to appear before Parliament’s state capture inquiry
It is unlikely that the Gupta brothers will be called to give evidence in Parliament’s state capture inquiry. The inquiry by the portfolio committee on public enterprises got under way on Tuesday. Opening proceedings‚ acting chairwoman of the committee …
Guptas unlikely to appear before Parliament’s state capture inquiry