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Selebi prepares to appeal 15 year jail sentence PDF Print E-mail
Written by VUYO MBULI   
Wednesday, 04 August 2010 09:47

Former Police Commissioner Jackie Selebi is preparing to lodge an appeal against the 15 year sentence handed down by the South Gauteng High Court yesterday. Judge Meyer Joffe sentenced Selebi to 15 years imprisonment for corruption. According to the Prevention of Corruption Act, fifteen years is the minimum sentence for a crime of this nature. Selebi has two weeks within which to prepare and lodge the appeal.  In handing down sentence Joffe described Selebi as an embarrassment to the people of South Africa. Judge Joffe found Selebi to be an unreliable witness saying Selebi had lied and manufactured evidence during the trial. Selebi is currently out on bail of R 20 000.00.

Last Updated on Wednesday, 04 August 2010 13:11
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Valli Moosa joins Sappi board PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Tuesday, 03 August 2010 15:02
Lereko Investments Chairman and ANC National Executive Committee member Valli Moosa has joined the board of Sappi. Lereko Investments is Sappi’s strategic BEE partner. Moosa joined the board of Sappi on August 1. His appointment follows Sappi’s conclusion of a R814 million BEE deal earlier this year. Moosa is the former chairman of Eskom and recently joined AngloPlat’s board as Deputy Chairman.
Last Updated on Tuesday, 03 August 2010 15:05
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UK Business lifts Investec income PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Friday, 30 July 2010 12:34

The South African investment bank and asset manager, Investec, reported on Friday that its first-quarter net operating income rose by 11 percent aided by the strength of its UK business. However, the investment bank said its profit was weakened by its poor performance in South Africa. Investec is South Africa's fifth-largest bank. It is listed in London. It said in a trading statement on Friday that it was bolstered by "particularly strong results" at its British asset management and capital markets divisions.

Last Updated on Friday, 30 July 2010 12:37
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Mothlanthe says criminals are known in the communities PDF Print E-mail
Written by VUYO MBULI   
Tuesday, 03 August 2010 04:12

Deputy President Kgalema Mothlanthe says perpetrators of crime are known in communities, and yet people are aftraid to raise their voices and expose them to the authorities. Mothlanthe was speaking at the close of Moral Regeneration Month, hosted by the Moral Regeneration Movement. The MRM was established to mobilise society towards the promotion of constructive social values that build and enhance healthy families and communities. Mothlanthe said "morality focusses on fighting corruption and greed in both the public and private sectors". 

Last Updated on Tuesday, 03 August 2010 04:59
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Credit demand on the rise PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Thursday, 29 July 2010 13:08

The demand for credit by South Africa's private sector rose by 0.92 percent year-on-year in June, after 0.8 percent growth in May, the South African Reserve Bank revealed on Thursday. The central bank's official data showed that growth in the broadly defined M3 measure of money supply accelerated to 2.41 percent year-on-year compared with 1.4 percent previously. The central bank has cut the repo rate by 550 basis points since December 2008 to help ease the burden on high indebted consumers and boost local spending. But consumer spending remains slow despite positive signs of economic recovery following a recession last year.

Last Updated on Thursday, 29 July 2010 13:11
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