The more business owners emigrate, the worse the consequences for job creation, says Solly Moeng.
More sun than clouds. Mild.
Representatives from Corruption Watch and Section 27 have described the events surrounding the Hawks case against Pravin Gordhan and his former Sars colleagues as a 'defining moment' in the fight against corruption in South Africa.
#PravinGordhan’s message of hope to #SA: https://t.co/4pglZwMpas pic.twitter.com/8EUBI8KQ6s— Fin24 (@Fin24) August 25, 2016
#PravinGordhan’s message of hope to #SA: https://t.co/4pglZwMpas pic.twitter.com/8EUBI8KQ6s
Guptas warn Treasury days before Gordhan ambush
Meanwhile, four days before the Guptas' business chiefs ambushed Finance Minister Pravin Gordhan on a radio station, their company Tegeta threatened Treasury over a report into coal contracts with Eskom.
WATCH: "This is a defining moment for South Africa" – Section 27
Pillay, Van Loggerenberg to follow due process – lawyer
The lawyer representing former Sars employees Ivan Pillay and Johann Van Loggerenberg says his clients will follow due process in the case with the Hawks.
"Our clients wish to thank civil society for their support. Our clients consider the allegations to be baseless and our clients will be following due process in accordance with their rights. That is all we are going to answer now," lawyer Robert Levin told reporters after meeting with Hawks investigators.
More to follow...
Wessels: Business has a better option than Zuma or Gordhan – Freedom
Business leaders and economists would do well to realise the choice in South Africa is not a narrow one between Zuma and Gordhan, says an analyst.
The plummeting rand after yet another manoeuvre by the Hawks to undermine Pravin Gordhan coupled with the president positioning himself to protect State-owned Enterprises against any possible action by Treasury that may impact on the practices of patronage surrounding these entities, further shook already brittle investor confidence.
Julius Malema Predicted The Arrest Of Pravin Gordhan - https://t.co/us0Gs3S7KN— EFF Supporters (@EFF_Supporters) August 25, 2016
Julius Malema Predicted The Arrest Of Pravin Gordhan - https://t.co/us0Gs3S7KN
Fifteen minutes till Brigadier Xaba was (or, perhaps, is) expecting #PravinGordhan. Get a wrap here @News24 @Fin24 pic.twitter.com/98k4fT4HL8— Erin Bates (@ermbates) August 25, 2016
Fifteen minutes till Brigadier Xaba was (or, perhaps, is) expecting #PravinGordhan. Get a wrap here @News24 @Fin24 pic.twitter.com/98k4fT4HL8
WATCH: Pravin Gordhan's hope
Finance Minister Pravin Gordhan has said he chooses to remain hopeful in the face of economic and other challenges faced in South Africa.
"I'm a boom man, not a bust man. I'm an optimist, not a pessimist," Gordhan said during a debate with Justice Malala in Cape Town on Wednesday.
DA calls for a debate on Gordhan 'witch-hunt'
SA opposition party Democratic Alliance (DA) called on Thursday for a parliamentary debate into what it called a "witch-hunt" against Finance Minister Pravin Gordhan, who is under police investigation over a suspected spy unit at the South African Revenue Service (Sars).
Gordhan said on Wednesday he had no legal obligation to obey a police summons linked to an investigation into whether he used Sars to spy on politicians, including President Jacob Zuma.
The President could instruct the Minister to suspend the head of the Hawks for abusing his position and flouting law pic.twitter.com/hi3X956At8— Pierre de Vos (@pierredevos) August 25, 2016
The President could instruct the Minister to suspend the head of the Hawks for abusing his position and flouting law pic.twitter.com/hi3X956At8
Zuma tempting tax revolt – has his ANC learnt nothing from etolls?
By Alec Hogg
This is how it was supposed to happen: After the usual ANC triumph in the elections – helped by its R1bn campaign spend – President Jacob Zuma would use the mandate to take a firmer grip on power.
First order of business was replacing Finance Minister Pravin Gordhan and deputy Mcebisi Jonas, opening the way for Zuma pals to take charge at Gordhan’s Treasury; and enjoy unrestricted access to trillions in the PIC, which as deputy finmin, Jonas chairs.
BREAKING: I can't stop Gordhan probe – Zuma
President Jacob Zuma has "full confidence" in Finance Minister Pravin Gordhan, the Presidency said in a statement on Thursday.
But he does not have the power to stop any investigations into any individuals, he added.
The four people who could possibly replace Gordhan
It’s going to be hard to replace Finance Minister Pravin Gordhan should President Jacob Zuma move to press the reshuffle button.
Whoever replaces him and no matter how talented, that person would be tainted with the brush of political interference and being a lackey of those determined to get their hands on Treasury and the proverbial cookie jar, political economist Daniel Silke told Fin24.
"It’s a perception that even the most sophisticated amount of political spin and PR won’t change," he said.
SA bonds near weakest on Gordhan concerns
South African bonds held near the weakest level since December and the rand was close to the lowest level in a month against the dollar as investors fear Finance Minister Pravin Gordhan may be removed from his post after he refused to meet with police.
The rand was at R14.1237 per dollar at 08:56 in Johannesburg. It has depreciated 3.9% over the past two days and is the worst-performing emerging-market currency over the period, according to data compiled by Bloomberg.
DA calls for debate of national importance in Parliament on Zuma’s Gordhan witch-hunt - https://t.co/7smRNkeUOI— Mmusi Maimane (@MmusiMaimane) August 25, 2016
DA calls for debate of national importance in Parliament on Zuma’s Gordhan witch-hunt - https://t.co/7smRNkeUOI
Human rights lawyer George Bizos supports #PravinGordhan, expresses concern on justice in SA. Watch @News24's video: https://t.co/McLhQwGF1r— Erin Bates (@ermbates) August 25, 2016
Human rights lawyer George Bizos supports #PravinGordhan, expresses concern on justice in SA. Watch @News24's video: https://t.co/McLhQwGF1r
WATCH: Gordhan explains his Hawks move over Sars
After teasing the audience for politely evading the Sars issue, Finance Minister Pravin Gordhan explains why he won't adhere to a request by the Hawks to receive a warning letter.
Pillay and Van Loggerenberg arrive at Hawks office
Former Sars employees Ivan Pillay and Johann Van Loggerenberg were greeted by supporters as they arrived at the Hawks offices in Pretoria on Thursday.
Civil society groups Right2Know, Section27 and Corruption Watch have all pledged solidarity with them.
Among the supporters present were Advocate George Bizos, Francis Antonie from the Helen Suzman Foundation and former judge Johann Kriegler from Freedom Under Law.
“We are concerned about the future of justice and law in SA.” Advocate George Bizos on Finance Minister Gordhan.https://t.co/qEz1OfhaH6— News24 (@News24) August 25, 2016
“We are concerned about the future of justice and law in SA.” Advocate George Bizos on Finance Minister Gordhan.https://t.co/qEz1OfhaH6
Hawks allegations against Gordhan baseless - former top judge
Civil society groups have described the charges being faced by Finance Minister Pravin Gordhan and former colleagues by the Hawks as baseless.
"We believe we speak on behalf of all fair-minded South Africans, irrespective of political persuasion, in showing our support for the minister of finance and his former colleagues at Sars and our outrage at this attack on them," Freedom Under Law Chairperson Judge Johan Kriegler said.
Helen Suzman Foundation's Francis Antonie, Freedom Under Law Chairperson Judge Johann Kriegler and Advocate George Bizos address the media.
Ivan Pillay and Johann van Loggerenberg arrive at the Hawks offices.
WATCH: Zuma needs to come clean on Gordhan – Mashaba
The new mayor of Johannesburg wants President Jacob Zuma to explain why the Hawks are focusing on Finance Minister Pravin Gordhan.
"The president, the government, owe it to the people of South Africa to take us into their confidence, to tell us what is really happening here. Something is not right. They are not doing our country a favour," Herman Mashaba told News24 on Wednesday.
#SarsWars Right2Know protesters outside the Hawks office in Pretoria @News24 pic.twitter.com/OAwnQ8xuLi— Karabo Ngoepe (@karabongoepe1) August 25, 2016
#SarsWars Right2Know protesters outside the Hawks office in Pretoria @News24 pic.twitter.com/OAwnQ8xuLi
WATCH: Under fire Gordhan reveals SAA deadlock will soon end
Finance Minister Pravin Gordhan said a "good announcement" regarding South African Airways (SAA) can be expected "shortly" on Wednesday evening.
The minister, who heads up the state-owned company (SOC), is withholding a R5bn guarantee as a carrot for the ailing national carrier to reform.
Because SAA is refusing to budge, they are preventing themselves from filing their year-long overdue annual financial statements, as it requires this guarantee.
EFF calls on Gordhan to keep Hawks appointment
The EFF on Wednesday called on Finance Minister Pravin Gordhan to reconsider his decision to not present himself to the Hawks, even though the party believes he is innocent.
"The last thing we need is anyone being treated as if they are above the law. At all times, we ought to respect institutions of the state and uphold them above individuals who may be at their helm," spokesperson Mbuyiseni Ndlozi said in a statement.
Gordhan's Hawks response halts rand plunge
Finance Minister Pravin Gordhan's response to the Hawks directive helped the rand ease off its decline, but if he is arrested or fired analysts says the rand is heading for trouble.
Gordhan said on Wednesday he would not adhere to a Hawks request to present himself for a warning letter over corruption charges they have come up with, because they are "wholly unfounded on any version of the facts".
"I have a job to do in a difficult economic environment and serve South Africa as best I can," he said. "Let me do my job."
Adv George Bizos arrives at the Hawks offices.
#PravinGordhan Dis stil by die Valke se hoofkantore in Silverton, Pretoria. @Nico_Gous pic.twitter.com/5zErFYjXxd— Netwerk24 Berig (@Netwerk24Berig) August 25, 2016
#PravinGordhan Dis stil by die Valke se hoofkantore in Silverton, Pretoria. @Nico_Gous pic.twitter.com/5zErFYjXxd
This Hawks letter shows, at best, astonishing incompetence, at worst deeply dishonest abuse of legal process. pic.twitter.com/QId8Zg6cG9— Pierre de Vos (@pierredevos) August 25, 2016
This Hawks letter shows, at best, astonishing incompetence, at worst deeply dishonest abuse of legal process. pic.twitter.com/QId8Zg6cG9
Gordhan saga a proxy for tough choices - Silke
Word is, that Pravin is filing papers in the High court today re oakbay et al.The war between Treasury & Zuma inc only has one casualty-SA— Mmusi Maimane (@MmusiMaimane) August 25, 2016
Word is, that Pravin is filing papers in the High court today re oakbay et al.The war between Treasury & Zuma inc only has one casualty-SA
Related Documents to the Hawks Media Statementhttps://t.co/54qVdsCE5Q— #TREASURY.ZA (@TreasuryZa) August 25, 2016
Related Documents to the Hawks Media Statementhttps://t.co/54qVdsCE5Q
Firing Gordhan would 'destroy economy' - Manuel
South Africa's economy, the most developed on the continent, will be
destroyed if President Jacob Zuma fires Finance Minister Pravin Gordhan,
ex-finance minister Trevor Manuel says.
Why the Hawks don't have a case against #PravinGordhanhttps://t.co/rRPwj7LKy6— GroundUp (@GroundUp_News) August 25, 2016
Why the Hawks don't have a case against #PravinGordhanhttps://t.co/rRPwj7LKy6
Gordhan plot all about power, SOEs and tenderpreneurs - economist
The market reaction will be profound should President Jacob Zuma
decide to push the reshuffle button, which could see Finance Minister
Pravin Gordhan exit the National Treasury.
This is according to Nomura emerging markets economist Peter Attard Montalto on the latest attack on Gordhan by the Hawks.
#Sarswars However, #PravinGordhan lawyer & @pierredevos has. Both concluded covert intel not forbidden@FraudWatchZA pic.twitter.com/Xy7wwb6NBJ— Pauli Van Wyk (@PaulivW) August 25, 2016
#Sarswars However, #PravinGordhan lawyer & @pierredevos has. Both concluded covert intel not forbidden@FraudWatchZA pic.twitter.com/Xy7wwb6NBJ
Gordhan speaks out on patronage, corruption
On Wednesday night, hours after revealing the charges the
Hawks were seeking to bring against him, Gordhan said politics, power and
rent seeking go together and South Africa needs to reform the system of
Gordhan battle: SA staring down edge of economic abyss
Attacks on Finance Minister Pravin Gordhan by the Hawks threaten to
devastate the economy, Business Leadership South Africa (BLSA) said in
an open letter to President Jacob Zuma on Wednesday.
South Africa made great progress over the last eight months to stave off
a ratings downgrade to junk status but that the country stands once
more on the edge of an abyss.
"We urge you to act to preserve the
unity and progress we have achieved since December by ensuring an end to
the harassment, intimidation, and undermining of the leadership of our
most important economic governance institutions," BLSA said.
Hawks accuse Gordhan of corruption
The police’s Directorate for Priority Crime Investigation (the Hawks)
accuses Finance Minister Pravin Gordhan of acting corruptly by granting
early retirement to the former deputy head of Sars, Ivan Pillay.
a letter sent by the Hawks to Gordhan on Monday, Major-General MS
Ledwaba states that Gordhan’s alleged actions “amount to” unauthorised
expenditure and/or fruitless and wasteful expenditure in terms of the
Public Finance Management Act and corruption in terms of the Prevention
of Corrupt Activities Act.
On Wednesday, Gordhan said he will not meet the Hawks who
summoned him to appear at their office to obtain a warning statement.
Statement by the Minister of Finance24 August 2016 pic.twitter.com/oSHEfJmTap— #TREASURY.ZA (@TreasuryZa) August 24, 2016
Statement by the Minister of Finance24 August 2016 pic.twitter.com/oSHEfJmTap
Here are 12 quotes made in statements in 2016 by Gordhan post his re-appointment as finance minister following the Nhlanhla Nene axing fiasco in December last year relate to the matter.
Gordhan sought legal advice after he was contacted by the Hawks, a Treasury spokesperson confirmed.
Sars probes Gordhan-era tenders
Finance Minister Pravin Gordhan is not only facing possible arrest by the
Hawks – the SA Revenue Service (Sars) has also launched a massive new
forensic probe into deals concluded during his tenure at the
News24 revealed on Tuesday that Sars appointed accounting firm Grant Thornton to
conduct a forensic investigation into its modernisation and technology
programme, which was implemented between 2007 and 2014. Gordhan was Sars
commissioner from 1999 until 2009.
Where it started:
On Tuesday it was reported that Finance Minister Pravin Gordhan has been ordered to report to the Hawks by Thursday over allegations relating to a rogue tax unit.
The rand fell nearly 3% after the story was published.
elite Hawks police division is investigating a tax surveillance unit
within the South African Revenue Service (Sars) set up in 2007 when
Gordhan was the commissioner of the revenue authority.
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