for subscribers

Unctad chief sets record straight on SA gold mis-invoicing

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
Dr Mukhisa Kituyi, Unctad secretary general. (Pic: Carin Smith, Fin24)
Dr Mukhisa Kituyi, Unctad secretary general. (Pic: Carin Smith, Fin24)

Cape Town - Just making a blanket statement to say a report by the United Nations Conference on Trade and Development (Unctad) on mis-invoicing in South Africa’s gold industry is not true is not the solution as it does not take away the fact that mis-invoicing is taking place.

This is according to Dr Mukhisa Kituyi, secretary general of Unctad, who spoke to Fin24 on the sidelines of the Mining Indaba taking place in Cape Town this week.

When the Unctad report was released last year, the SA Chamber of Mines, the SA Revenue Service (Sars) and Statistics SA disputed the veracity of the data relied upon for the Unctad report. The Chamber of Mines subsequently commissioned further research which found SA’s gold exports were correctly reflected in the data that the SA Reserve Bank, Statistics SA and the Chamber of Mines had.  

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.04
(-0.38)
ZAR/GBP
21.81
(-0.11)
ZAR/EUR
19.90
(-0.12)
ZAR/AUD
12.03
(-0.12)
ZAR/JPY
0.16
(-1.12)
Gold
1860.65
(+0.03)
Silver
22.87
(+0.11)
Platinum
844.51
(+0.50)
Brent Crude
42.23
(-0.12)
Palladium
2207.00
(+0.59)
All Share
53587.11
(-1.22)
Top 40
49547.74
(-1.16)
Financial 15
9401.28
(-1.95)
Industrial 25
72949.70
(-1.72)
Resource 10
53453.42
(-0.10)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1368 votes
It depends on how the funds are used.
73% - 8864 votes
No. We should have gotten the loan elsewhere.
16% - 1959 votes
Vote