Manyi Threatens Zuma With Court Action Over FICA Bill

Mzwanele Jimmy Manyi has threatened Jacob Zuma with court action if he signs the FICA bill into law. The Financial Intelligence Centre Act (FICA) is a bill written to combat corruption‚ white collar crime‚ terrorism and money laundering by placing greater scrutiny on the financial affairs of prominent individuals and the politically connected. An example of this is the review of the Gupta accounts which led to them being closed by the big 4 banks. Manyi has said that such action would lead the ANC to bankruptcy by 2019 and that its unconstitutional for the police and banks to do random searches without a warrant. Experts looking into the matter have said its perfectly legal and consistent with international standards. Whats in the bank accounts that Mr Manyi doesn’t want us to see? Fishy.

R400m Waste Energy Plant Opened In Cape Town 

A R400m waste-to-energy conversion plant was officially opened in Athlone. The plant will use 500 tons of organic household, municipal, and industrial waste per day, in an anaerobic digestive process, to produce methane, food-grade carbon dioxide, and organic fertilizer. The plant which will initially employ 80 people can supply around 4% to 5% of the city’s liquid petroleum gas requirement. Currently, the city produces around 8000 tons of waste per day.

No Possibility Of Loadshedding Until 2021

Eskom has reported an operational surplus energy capacity averaging 5 600MW at peak this financial year, an achievement the power utility said could make the country meet any increase in demand until 2021. There are rumors that Eskom is considering selling the excess capacity to neighboring countries but there has been no confirmation of that yet. Eskom also committed to allowing municipalities until January 31 to clear arrears. Over the 2016 financial year, municipal debt increased to R10.2 billion at the end of November, with the Free State, Mpumalanga and North West contributing the most at R7.8 billion combined

Another Big Fuel Price Hike In Feb

It is estimated that there will be about a 44 cents a litre increase in the price of petrol and 37 cents a litre hike in the diesel price in February. The rand/US dollar exchange rate has firmed slightly since the start of January 2017 but the international oil prices have surged ahead by a far greater margin, nullifying any savings we could have made from the weakness of the dollar.

Ford Mustang Fails Safety Standards Test

While investigations continue into the Ford Kuga fires crisis, the company has now been dealt another blow with the announcement that its flagship Mustang has failed to achieve a satisfactory score in the Euro NCAP vehicle-safety test. Ford did not expect Euro NCAP to test the Mustang and chose not to fit safety technology in Europe which is available to its American consumers. The Euro version of the Mustang is the same one sold in South Africa and one has to wonder if Ford really cares about anyone beyond America. Ridiculous!

Vodacom to sell R15bn Stake

Vodacom is considering the sale of a R15-billion stake in the company to boost “black participation in the economy”. The report stated that Vodacom plans to buy back part of a 12.47% stake owned by the Public Investment Corporation. The shares will then be listed as a “separate entity” and restricted to black investors.

SA To Import Tons Of US GMO Corn

South Africa issued permits to allow total imports of 1.3 million metric tons of genetically modified corn from the U.S. South Africa became a net importer of corn for the first time since 2008 in the marketing season that ended in April, after the drought slashed local harvests. So far none of the corn has landed in South African ports.

Currencies And Stuff 

Oil 55.54 – Rand/USD 13.25 – Rand/GBP 16.73 – Rand/EUR 14.25
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Author: The Turk Report

Simplifying complex money matters

2 thoughts on “Manyi Threatens Zuma With Court Action Over FICA Bill”

  1. Nabs did you see the interview with the CEO of Ford , it was on check point last night, what a fool

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