EFF Expose Gigaba For Gupta Citizenship

Former home affairs minister Malusi Gigaba appears to have bent over backwards to ensure the Gupta family were irregularly granted citizenship‚ letters released by the EFF suggest. An immigration expert said on Monday the apparent early granting of citizenship was highly suspicious and the EFF said it would go to court to have the Guptas’ citizenship revoked.

Source : https://goo.gl/e1nr5Z

Ben Ngubane Resigns

Eskom board chairman Ben Ngubane has resigned from his post, Public Enterprises Minister Lynne Brown announced late on Monday night. “Dr Ngubane formally tendered his resignation, which I accepted,” Brown said in a statement.

Source : https://goo.gl/YHkrb2

Hlaudi Motsoeneng Fired

Former SABC COO Hlaudi Motsoeneng has been fired after being found guilty of misconduct for comments he made at a media briefing in which he criticised SABC board members and a parliamentary committee that was looking into alleged irregularities at the public broadcaster

Source : https://goo.gl/QAUfmK

Moodys Downgrades Banks And Institutions

South Africa’s banks and insurance companies have been downgraded in keeping with the countries downgrade. Moody’s downgrade of global scale Insurance Financial Strength and related debt ratings of South African insurance groups including related entities is a direct result of the country’s rating. Moody’s considers the banks and insurance groups’ key credit fundamentals (asset quality, capitalisation, profitability and financial flexibility) to be partly correlated with — and thus linked to — the economic and market conditions in South Africa.

Source : https://goo.gl/DasNJz

Trump Loses Another Travel Ban Case

The U.S. Court of Appeals in San Francisco concluded Monday that the president exceeded his authority by suspending nationals from six mostly Muslim countries without showing how letting those people in hurts American interests. Last month, a Richmond, Virginia-based panel of judges ruled that the ban was “steeped in animus and directed at a single religious group.”

Source : https://goo.gl/BXa1kg

Curro Buys AFDA

Curro, through its wholly owned subsidiary, Stadio, has acquired 100% of the issued share capital of film school, AFDA. AFDA is a South African registered higher education institution, with 9 accredited programmes (ranging from higher certificates to masters’ degrees) primarily focused on the film, television and live performance industry. It is rated as the number one film school in Africa.

Source : https://goo.gl/ISsTha

MMI And African Bank Team Up

MMI Holdings and African Bank have announced a partnership that will allow each other exclusive rights to sell their products to the combined client base. “The value sharing partnership is based on three business lines, including lending and insurance business ventures. The third venture will involve the provision of transactional banking capabilities to enable the MMI value proposition,” read the statement released on Monday

Source : https://goo.gl/vpxGZg

Indicators : JSE 51’756 – Oil 48.48 – Rand/USD 12.82 – Rand/GBP 16.22 – Rand/EUR 14.34

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Author: The Turk Report

Simplifying complex money matters

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