Tag: Jacob Zuma

Why this analyst believes Ramaphosa emerged stronger from the ANC NEC meeting

All eyes in South Africa are on the ANC, as the governing party scrambles to reign in corruption. President Cyril Ramaphosa committed to rooting out corruption from the beginning of his term. The theft of COVID-19 relief funds has put pressure for him to fulfil his promise and to hold perpetrators accountable. Joining CNBC Africa to provide insights into Ramaphosa’s attempts to clean up the ANC is Daniel Silke, Director at Political Futures Consultancy.

South Africa’s ex-leader Zuma, accused of graft, hits out at successor

In an unprecedented attack, Zuma, whose decade in power was marked by multiple corruption scandals that are still being investigated, accused Ramaphosa of bringing the party into disrepute - a sign of growing divisions within the ANC ahead of its national executive committee conference this weekend.

VBS Bank Heist: Hawks, NPA make first arrests

This morning seven people were expected to appear in the Palm Ridge magistrates court in Kathlehong Johannesburg for their alleged involvement in stealing billions of rand from small time savers withe VBS Mutual Bank. It is highly likely that the investigation will widen - say insiders. CNBC Africa’s Chris Bishop filed this report.

Moody’s downgrades SA to junk

The action will result in South Africa's expulsion from the World Government Bond Index (WGBI), as a consequence those funds tracking this index as a benchmark will become forced sellers.

Former president Zuma’s bid to stop corruption trial is rejected

According to the local news agency Eye Witness News, the SCA ruled that Zuma’s appeal against an October decision by the Pietermaritzburg High Court had “no reasonable prospects of success”.

Jacob Zuma loses bid to have corruption case dismissed

Former president Jacob Zuma’s court bid to avoid his corruption charges going to trial has been dismissed in the Pietermaritzburg high court. The former president will face the court next week to face the charges against him. Joining CNBC Africa for more is Advocate Mfesane Ka-Siboto.

U.S places Gupta brothers on sanction list

The United States Treasury has added Atul, Ajay and Tony Gupta to its sanctions list as “members of a significant corruption network in South Africa” that looted state coffers. The family has been accused of state capture as a consequence of their close relationship with former President Jacob Zuma. CNBC Africa's Karabo Letlhatlha spoke to the Acting Ambassador to South Africa, David Young.

Tito Mboweni’s tips for economic growth in SA – is it more talk and task teams?

As the business minds ready for the World Economic Forum Africa in Cape Town next week the finance minister of the continent’s most advanced economy revealed Treasury’s plan how to revive growth
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