Love Me Tender

I’ve already written about the ongoing deterioration of Johannesburg twice this year, but, like your favourite Golden Oldies radio station, the hits just keep on coming.The latest in the apparent laundry list of “you can’t make this up” issues is the response by Johannesburg city spokesperson Nthatisi Modingoane when challenged on the awarding of massive transport contracts (valued at R972 million) to politically connected families.“The metro government sees no problem and will not investigate,” he said.This response came despite multiple concerns from the Auditor General, civic watchdogs, and political parties.The issue concerns six contracts given in 2023 for the extension of the BRT/Rea Vaya bus system. They were all awarded to the families of city councillors and officials.The extension project is already eight years behind schedule, and its final deadline for the end of last year was also missed.Yet Modingoane remains resolute. “There is no regulatory provision that prohibits the Municipality to award contracts to the category of people in question (spouse, child or parent of a person in service of state either actively or in the past twelve months),” he said. “Therefore, the question whether the City failed in oversight and due diligence is misplaced.”He appears to be the only one with this opinion.Click the link to read the full article - https://lnkd.in/dpAi-pr4

A Wail Of Two Cities

“It was the best of times; it was the worst of times…”You probably recognise the iconic opening line from Charles Dickens’ most famous and successful work, A Tale of Two Cities. Although it was first published in 1859 and concerned events that happened almost a century before that, it’s central themes are still hugely relevant today.Dickens viewed power as a conduit for corruption. Throughout the novel, he exposes his three central characters as being corrupt individuals who begin abusing their power as time goes on. “The best of times” refers to the aristocracy living in London and Paris who, in the late 18th Century, enjoyed vast wealth, influence and power. The peasants, however, were living in “the worst of times,” – particularly in France, where they endured extreme poverty, hunger and a lack of basic necessities, and were subjected to oppressive rule by the aristocracy.Fast forward to today, and there’s definitely a case for “the more things change, the more they stay they same.”Particularly, it seems, in South Africa.Click below to read the full article.https://lnkd.in/dpzRhke2

Transnet In Trouble - Is South Africa's Transport Giant Going Off The Rails

Three months. That’s how long Transnet has before it runs out of money for debt-servicing and operations, according to Moody’s ratings.Unless, of course, as with all our struggling state-owned enterprises, it receives (another) bailout from the government.Moody’s said in a statement that “[Transnet] requires additional government support to refinance upcoming debt maturities and secure funds for its expanded capex program.”To be quite honest however, with the multi-billion hole left in its budget fromthe decision not to increase VAT, I think the government has enough problems of its own to contend with without having to throw more money at yet another SOE with its hand out.Yet without some kind of cash injection from somewhere, Transnet looks set to grind to a halt within the next 90 days. The African Development Bank has estimated that the company’s full recovery requires over R150 billion in capital investment.Click below to read the full article -https://lnkd.in/dfFPQpAi

CEO Fraud - The Fish Rots From The Head, But Only If You Let It

In so many cases of private and public sector fraud and corruption, it’s the company CEO or senior government official at the heart of the scandal. This creates a culture of corruption that is very hard to reverse.
There are occasions, however, when high level CEO fraud is not actually committed by a CEO at all.

How The Mighty Have Fallen – The Tragic Tale of Two Ponzi Kingpins

Johann Steynberg, founder of the Mirror Trading International Ponzi scheme, may reportedly have faked his demise. While under house arrest in Brazil and facing extradition to South Africa, he apparently died from acute respiratory failure. Craig Warriner, another major fraudster, was sentenced to 25 years in prison for his BHI Trust Ponzi scheme. Both cases underscore the extensive financial damage caused and serve as a warning against "too good to be true" investments.

How Personal Accountability, Not Political Parties, Will Shape The Real Future of South Africa

I’ve written before about the power of one, and this has never been more evident than right here on our doorstep. It’s all about individual actions inspiring collective responsibility.
Our role in building a better future for our country is bigger, and extends far further, than simply voting in an election. 

From Murder to Money Laundering – The Changing Face of Organised Crime

A recent report from Reuters says that “Italy's mafia rarely dirties its hands with blood these days. Extortion rackets have gone out of fashion and murders are largely frowned upon by the godfathers.”

How Can We Save South Africa’s Ship from Sinking?

SARS stats show that over the past five years, more than 40,500 taxpayers have ended their tax residency in South Africa. 
Every year we lose hundreds of healthcare workers, teachers, accountants and other professionals. 
Tony Healy, a labour consultant, believes most skilled people leave South Africa because of crime, security, corruption, an incompetent government, and a deteriorating outlook for the country.

State Capture’s Role in Loadshedding. Why South Africa is really in the Dark.

In 2019 alone, loadshedding cost our country R120 billion and one million lost jobs. Businesses are closing in their thousands, unable to withstand the double whammy of the Covid pandemic and relentless, crippling power problems.
There is as yet, no end in sight.
Much of the blame for the crisis can be laid squarely at the feet of the Zuma administration.