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Daily Podcast – December 06, 2018


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Daily Podcast – December 06, 2018

6th December 2018

By: Paige Müller
Creamer Media Reporter


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For Creamer Media in Johannesburg, I’m Paige Muller.

Making headlines: Former VBS CEO wants to challenge 'bank heist' report findings at ConCourt, SA municipalities collectively owe Eskom billions of rand And, Ramaphosa to announce effective date for national minimum wage in Kliptown



Former VBS CEO wants to challenge 'bank heist' report findings at ConCourt


Former VBS CEO Andile Ramavhunga says he will launch a Constitutional Court bid challenging the Financial Sector Regulation Act, which Advocate Terry Motau relied on in his report on the failure of the mutual bank.

The 'Great Bank Heist' report found that R1.9-billion had been looted from the mutual bank, implicating him along with at least 50 other individuals.

Ramavhunga’s lawyer said the papers will be filed before the end of the year, or in early 2019.

Ramavhunga and former VBS and Vele Investments chairperson Tshifhiwa Matodzi face being struck off the CA roll over sequestration orders against them as VBS curator Anoosh Rooplal attempts to recover assets from the bank’s bosses.

SA municipalities collectively owe Eskom billions of rand

Municipalities in Gauteng run by the ANC still owe power utility Eskom billions of rand in unpaid bills for electricity, the main opposition the DA said today, citing a consolidated first quarter report.

It singled out Emfuleni, Merafong and Rand West City among the worst offenders.

DA Gauteng spokesperson on finance Ashor Sarupen said total debt these municipalities owe to Eskom is R1.5-billion, of which R1.1-billion is owing for more than one month from the due date.


Ramaphosa to announce effective date for national minimum wage in Kliptown

President Cyril Ramaphosa will on Friday proclaim the effective date for the recently approved national minimum wage.

Consensus on the minimum wage was reached by stakeholders under the auspices of the National Economic Development and Labour Council and has been set at R20 an hour.

The Presidency said Ramaphosa had elected to conduct the proclamation in a ceremonial setting to affirm the centrality of collaboration and consensus among social partners to the resolution of challenges facing the country.


That’s a roundup of news making headlines today

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