Tag: vbs

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.

Understanding the legal process behind prosecuting corporate scandal

The judicial authorities of South Africa are actively looking into crimes committed against the state by private and state owned entities. Exposed claims of corruption and fraud have become regular features on front pages and screens daily. And yet, those exposed have not been successfully prosecuted. Joining CNBC Africa for more is Bernard Hotz, Head of Business Crimes and Investigations at Werksmans Attorneys.

Hawks Head Godfrey Lebeya gives update on Steinhoff & VBS

South Africa's Directorate for Priority Crime Investigation- also known as the Hawks is under pressure to make high profile arrests from the litany of corruption cases that are alleged across the country. The Unit will also have to work with the new Investigative Directorate Unit which was recently established by President Ramaphosa. Hawks Head, Lieutenant-General Godfrey Lebeya joins CNBC Africa for more.

SAICA CEO Freeman Nomvalo on cleaning up SA’s audit profession

South Africa’s auditing profession has been thrown into disarray following a plethora of scandals involving Tongaat Hulett, VBS, Steinhoff and KPMG to find out what is being done to clean up the profession CNBC Africa’s Fifi Peters speaks to SAICA CEO Freeman Nomvalo.

South African court orders VBS Bank to be liquidated

The collapse of VBS has prompted an outcry in South Africa because many municipalities had deposits with the bank.

Explainer: What are the lessons learned from the collapse of South Africa’s VBS Mutual Bank ?

VBS financial losses prompted a decision to institute a forensic investigation.

Public Protector Busisiwe Mkhwebane looks back at 2 years in office

She was appointed into position this month back in 2016 to much consternation but she stood her ground and has been making waves doing her most talked about work. Advocate Busisiwe Mkhwebane came in the Public Protector office as a bit of an underdog and now she has political parties threatening court action as she fiercely does her work of holding public servant representative to account. Advocate Mkhwabane joins CNBC Africa while she has pile of work at her office from burning issue of VBS to many others.

An open letter to South Africa from Dr Dan Matjila, CEO of PIC, addressing allegations against him

Dan Matjila writes: "The only masters I serve are the 1 273 125 active members of the GEPF and the 450 322 pensioners and beneficiaries who, after a lifetime of toil, deserve a secure, prosperous and dignified retirement for the rest of their lives."