Latest news with #PublicFinanceManagementAct
IOL News
a day ago
- Business
- IOL News
R1. 4bn wasted: Sapo's epic failure
THE SA Post Office (Sapo) has been declared financially 'unsustainable' and riddled with systemic mismanagement. Image: Independent Newspapers Archives THE SA Post Office (Sapo) has been declared financially 'unsustainable' and riddled with systemic mismanagement after receiving its fourth consecutive failed audit opinion from the Auditor-General of South Africa (AGSA), sparking outrage from MPs who demanded answers on why the failing institution keeps consuming public money. AGSA's damning report, presented to Parliament's Standing Committee on Public Accounts (Scopa) on June 11, exposed: R152 million lost to fruitless and irregular spending in 2023/24, with R136 million dismissed without repercussions. A dismal 13% achievement rate on performance targets, despite a R381m bailout from the Unemployment Insurance Fund (UIF) for staff salaries. R86 million paid to business rescue practitioners (BRPs) and advisors since 2023, with little progress to show. No stable leadership, severe staff shortages, and repeated violations of the Public Finance Management Act (PFMA). AGSA officials delivered a stark verdict: Sapo is being propped up by taxpayer funds. 'Costs keep outstripping income. Debts are mounting, and the organisation isn't earning enough to survive,' said AGSA's Makhai Motshekga. ActionSA's Alan Beesley was more blunt: 'It's time to pull the plug. Sapo cannot be saved.' The BRPs, brought in July 2023, have already burned through R86m, including payments to consultants, tax experts, and lawyers. The EFF's Ntombovuyo Mente-Nkuna demanded answers: 'Who are these advisors? What have they actually fixed? We can't keep throwing money at a sinking ship.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ AGSA's Nathan Lawnet said the BRPs — from firms SNG and Legae — were 'qualified' but admitted survival depends on 'new income sources and partnerships,' which still don't exist. MPs pressed AGSA on Sapo's unaccounted-for assets, with Mente-Nkuna noting rural branch closures force grant recipients to travel far. 'How many buildings does Sapo still control? Why aren't they helping our communities?' she asked. AGSA confirmed Sapo owns properties and old equipment, but said almost nothing has been upgraded in years. Postbank's separation from Sapo — required by banking laws — has created confusion. Though Postbank is now audited independently, it still depends on Sapo's failing systems. ANC's Gijimani Skosana warned: 'Postbank once helped fund Sapo. Now, both are drowning.' Wasteful spending continues unchecked, with R200m squandered since 2021. Mente-Nkuna slammed the impunity: 'R136 million just written off? Who checked this? Who was held responsible?' AGSA admitted probes were lacking, blaming write-offs on debt settlements, not internal crackdowns.
TimesLIVE
3 days ago
- Business
- TimesLIVE
Chief investment and development officer of the Gauteng Partnership Fund
The Gauteng Partnership Fund (GPF) is seeking a strategic, technically astute, and visionary professional to fill the role of chief investment and development officer. This executive opportunity is ideal for a leader who is passionate about shaping the future of urban development and infrastructure investment in Gauteng. As a key member of the executive management team, the chief investment and development officer will lead GPF's efforts to unlock inclusive, impactful, and sustainable development projects in line with provincial and national priorities. This is a five-year fixed-term contract position based in Johannesburg. 1. Job purpose The chief investment and development officer will provide strategic leadership and expert guidance in planning, structuring, and delivering GPF's investment and development portfolio. The role is accountable for overseeing capital raising and capital mobilisation strategies, ensuring project bankability, operational readiness, and funding alignment with provincial and national objectives. 2. Key performance areas Investment structuring and capital mobilisation: Secure co-investment through blended finance models, special-purpose vehicles, and strategic partnerships with development finance institutions, banks, and private sector players. Capital raising: Develop and execute capital raising strategies including roadshows, investor engagement, and regulatory due diligence. Project development and implementation: Oversee the entire project life cycle from feasibility, procurement, and construction to handover. Property and asset management: Manage leases, acquisitions, and urban regeneration projects. Financial management and compliance: Ensure alignment with the Public Finance Management Act (PFMA), budgeting protocols, and effective cost control. People and performance leadership: Build and lead a high-performing team, fostering talent development, equity, and skills growth. Risk and stakeholder management: Lead risk mitigation, intergovernmental co-ordination, and public-private collaboration. 3. Minimum job requirements Education and certification Bachelor's degree in finance, engineering, the built environment, or project management. Professional registration and good standing with a recognised statutory or professional body (for instance, the Engineering Council of SA, South African Council for the Project and Construction Management Professions, or similar). FAIS RE1 certification preferred — demonstrating readiness to operate as a key individual in the financial services regulatory environment. A master's degree or MBA will be an added advantage. Experience Ten to 15 years' experience in investment and development. Seven to eight years in a senior/executive role such as chief investment and development officer or chief investment officer. Experience in urban development, financial structuring, public-private partnerships, and large-scale project implementation. Proven track record of managing projects in public and private sector partnerships. Technical competencies Advanced understanding of PFMA, capital markets, environmental, social, and governance (ESG), infrastructure packaging, and feasibility modelling. Strong leadership, stakeholder engagement, risk management, and financial structuring capabilities. Application instructions Applications must be submitted via the DirectHire platform only. No emailed or hand-delivered applications will be considered. The closing date for applications is July 4 2025. Preference will be given to:
The Star
5 days ago
- The Star
Pule Mabe's corruption case postponed to July as final charge sheet is still pending
The corruption case involving former ANC national spokesperson Pule Mabe and six co-accused individuals has been postponed to July 7 as the State works to finalise the charge sheet. The decision was announced during court proceedings on Tuesday at the Palm Ridge Specialised Commercial Crime Court in Ekurhuleni. Mabe, 44, his wife Mmatlhekelo Elsie Mabe, 46, and five others — Loyiso Mkwana, Thandeka Mbassa, Matilda Gasela, Abdullah Mohamed Ismail, and Mabe's business associate Tinyiko Mahuntsi — appeared briefly before Magistrate Brian Nemavhidi. All seven accused are currently out on bail of R30 000 each. State prosecutor Magdeline Montwedi Mclean told the court that the defence and prosecution had agreed to postpone proceedings to allow the State time to provide the final charge sheet by June 30. If delivered on time, the accused may be issued a trial date at their next court appearance on July 7. Mabe, once a prominent figure in the ruling African National Congress, is at the centre of a case stemming from a controversial R27 million tender awarded in 2017 to his company, Enviro Mobi. The company was contracted by the Gauteng Department of Agriculture and Rural Development to supply 200 three-wheeled motorised waste collection vehicles — known as tuk-tuks — intended to support 58 waste pickers in the Ekurhuleni municipality. According to the state, the contract was awarded under irregular and fraudulent circumstances. Investigations by the Special Investigating Unit (SIU) and the Hawks revealed that Enviro Mobi received R27 231 750 in payments 'without any service rendered.' In addition, over R6 million was allegedly paid out to cover storage expenses for the tuk-tuks, despite no record of the vehicles being deployed for their intended purpose. Phindi Mjonondwane, spokesperson for the National Prosecuting Authority (NPA), said that the charges against the accused include theft, fraud, and violations of both the Public Finance Management Act and the Prevention of Organised Crime Act. Mjonondwane further detailed how the procurement process was manipulated. A public tender was advertised on February 10, 2017, calling for proposals to support the integration of small and medium waste enterprises into Gauteng's waste management economy. Ten companies responded, including Enviro Mobi, which allegedly lacked the necessary experience and technical capacity to fulfil the tender's requirements.'Enviro Mobi was awarded the tender despite serious shortcomings,' Mjonondwane explained. 'The State alleges that Makwana, Mbassa, and Ismail facilitated the unlawful appointment of Enviro Mobi, represented by Pule Mabe. At the time, the company reportedly denied any links to government officials or members of Parliament.' Mabe had served as director of Enviro Mobi from 2010 to 2014 and was a signatory on the business account of KGP Media Holdings, one of the companies charged in the case. Both Star Mass Direct and KGP Media Holdings — formerly known as Kariki Media Holdings and Groen Mintirho, respectively — are also facing charges. The SIU and Hawks allege that from March 2017 onwards, Enviro Mobi submitted invoices exceeding R26 million with no accompanying documentation to verify the completion of work or delivery of services. Prominent defence attorney Zola Majavu is representing Mabe, his wife, and their companies. Neither the accused nor their legal representatives made public comments following the postponement on Tuesday. The next court appearance on July 7 is expected to bring further clarity, with the potential for a trial date to be set depending on the State's readiness and finalisation of charges. The case has drawn significant attention given Mabe's previous high-profile role in South African politics and the growing scrutiny over government procurement processes.
The Star
5 days ago
- Politics
- The Star
NPA seeks extension to finalise charges in Pule Mabe corruption case
Kamogelo Moichela | Published 9 hours ago The National Prosecuting Authority (NPA) has requested additional time to finalise the charge sheet in the corruption case involving former African National Congress (ANC) national spokesperson Pule Mabe. During court proceedings on Tuesday, State prosecutor Magdaline Montwedi-Mclean confirmed that while all relevant documents had been handed over to the defence, the finalised charge sheet remains outstanding. Montwedi-Mclean assured the court that the prosecution was in the final stages of preparing the charge sheet and committed to presenting it before the next scheduled hearing. "The State has since furnished all the accused with the charge sheet from the docket, which was the State's first draft of the charge sheet,' she said. The defence legal teams have requested access to the final charge sheet at least one week before the next court date, as proceedings in the corruption case. The matter was postponed to July 7, following a brief appearance by Mabe and his six co-accused at the Johannesburg Commercial Crimes Court, sitting in Palm Ridge, on Tuesday. The group faces a total of 16 charges, including fraud, money laundering, and violations of the Public Finance Management Act. The charges stem from a controversial R27 million tender awarded in 2017 to Mabe's company, Enviro Mobi, for the supply of 200 three-wheeler motorbikes to the City of Ekurhuleni. Tuesday's proceedings marked the case's return to court after a three-month adjournment, granted to allow the NPA time to furnish additional documents requested by the defence. [email protected] IOL Politics
IOL News
6 days ago
- Business
- IOL News
Pule Mabe's corruption case postponed to July as final charge sheet is still pending
Former national spokesperson Pule Mabe appeared at the Palm Ridge specialised commercial crimes court in 2024. Mabe and his co-accused face corruption in connection with a million-rand tender, which was allegedly awarded unlawfully to his company, Enviro Mobi, in 2017. The corruption case involving former ANC national spokesperson Pule Mabe and six co-accused individuals has been postponed to July 7 as the State works to finalise the charge sheet. The decision was announced during court proceedings on Tuesday at the Palm Ridge Specialised Commercial Crime Court in Ekurhuleni. Mabe, 44, his wife Mmatlhekelo Elsie Mabe, 46, and five others — Loyiso Mkwana, Thandeka Mbassa, Matilda Gasela, Abdullah Mohamed Ismail, and Mabe's business associate Tinyiko Mahuntsi — appeared briefly before Magistrate Brian Nemavhidi. All seven accused are currently out on bail of R30 000 each. State prosecutor Magdeline Montwedi Mclean told the court that the defence and prosecution had agreed to postpone proceedings to allow the State time to provide the final charge sheet by June 30. If delivered on time, the accused may be issued a trial date at their next court appearance on July 7. Mabe, once a prominent figure in the ruling African National Congress, is at the centre of a case stemming from a controversial R27 million tender awarded in 2017 to his company, Enviro Mobi. The company was contracted by the Gauteng Department of Agriculture and Rural Development to supply 200 three-wheeled motorised waste collection vehicles — known as tuk-tuks — intended to support 58 waste pickers in the Ekurhuleni municipality. According to the state, the contract was awarded under irregular and fraudulent circumstances. Investigations by the Special Investigating Unit (SIU) and the Hawks revealed that Enviro Mobi received R27 231 750 in payments 'without any service rendered.' In addition, over R6 million was allegedly paid out to cover storage expenses for the tuk-tuks, despite no record of the vehicles being deployed for their intended purpose. Phindi Mjonondwane, spokesperson for the National Prosecuting Authority (NPA), said that the charges against the accused include theft, fraud, and violations of both the Public Finance Management Act and the Prevention of Organised Crime Act. Mjonondwane further detailed how the procurement process was manipulated. A public tender was advertised on February 10, 2017, calling for proposals to support the integration of small and medium waste enterprises into Gauteng's waste management economy. Ten companies responded, including Enviro Mobi, which allegedly lacked the necessary experience and technical capacity to fulfil the tender's requirements.'Enviro Mobi was awarded the tender despite serious shortcomings,' Mjonondwane explained. 'The State alleges that Makwana, Mbassa, and Ismail facilitated the unlawful appointment of Enviro Mobi, represented by Pule Mabe. At the time, the company reportedly denied any links to government officials or members of Parliament.' Mabe had served as director of Enviro Mobi from 2010 to 2014 and was a signatory on the business account of KGP Media Holdings, one of the companies charged in the case. Both Star Mass Direct and KGP Media Holdings — formerly known as Kariki Media Holdings and Groen Mintirho, respectively — are also facing charges. The SIU and Hawks allege that from March 2017 onwards, Enviro Mobi submitted invoices exceeding R26 million with no accompanying documentation to verify the completion of work or delivery of services. Prominent defence attorney Zola Majavu is representing Mabe, his wife, and their companies. Neither the accused nor their legal representatives made public comments following the postponement on Tuesday. The next court appearance on July 7 is expected to bring further clarity, with the potential for a trial date to be set depending on the State's readiness and finalisation of charges. The case has drawn significant attention given Mabe's previous high-profile role in South African politics and the growing scrutiny over government procurement processes.
