Prasa Board Dissolved

On Wednesday, in a dramatic turn of events, Parliament’s portfolio committee on transport called for an investigation into the Passenger Rail Agency of South Africa’s (Prasa) board, following a marathon meeting which exposed infighting at the helm of the troubled agency. This came after Transport Minister Dipuo Peters told the committee, through the department’s acting director-general Mathabatha Mokonyama, that the Prasa board would be dissolved.

Source : https://goo.gl/aj8mNI

ConCourt Orders Social Development Minister To Appear Before Court

South Africa’s top court ordered the government and the nation’s welfare agency to explain how a crisis that’s threatening welfare-grant payments to more than 17 million people came about and what’s been done to fix the problem. In papers filed Wednesday, the court asked who at the welfare agency decided it was incapable of paying out the monthly stipends itself, when the decision was taken and why the court wasn’t notified. It also asked whether the state agency has concluded a new disbursement contract with Net1’s Cash Paymaster Services unit and, if so, to provide it with all details.

Source : https://goo.gl/H06yr1

Whatsapp Plans To Allow Businesses To Chat To Consumers Directly

WhatsApp, the Facebook-owned messaging service used by more than 1 billion people worldwide, is testing a system that would let businesses talk directly to WhatsApp users for the first time, according to communications about the project seen by Reuters. One potential revenue source is to charge businesses that want to contact customers on WhatsApp. But the company is working carefully to avoid problems with spam messages, the documents show.

Source : https://goo.gl/hRdCtR

Allan Grey Defends Net 1 Investment

Allan Gray has defended its decision to invest in Net1 UEPs, the controversial parent company of social grants distributor Cash Paymaster Services (CPS). Allan Gray, which had assets under management totalling R461.7bn at June 2016, holds a 15.6% stake in the company on behalf of investors.

Source : https://goo.gl/7SZpmE

Indicators : Oil 53.40 – Rand/USD 13.21 – Rand/GBP 16.01 – Rand/EUR 13.90

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Author: The Turk Report

Simplifying complex money matters

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