ICYMI: Tuesday’s top 5 reads on Fin24:
#StateCapture: I was used for something very perverse – whistleblower
Ex-Trillian Financial Advisory CEO Mosilo Mothepu has told Parliament that she believes her services were “used for something very perverse”.
She led Trillian’s team at Eskom on various jobs and left when she discovered the Gupta-linked firm getting work without PFMA approval and against rules stipulated by the Companies Act.
Mothepu was giving evidence before Parliament’s state capture inquiry. She said that Trillian didn’t have any policies, and had no corporate governance structure.
ANC MP and former Finance Minister Pravin Gordhan asked her what civil servants should do when confronted by corrupt activities.
“If you don’t have the courage to say no, it breeds the cancer,” she replied. “That cancer grows until the body dies.”
Read the full report from our journalist on site.
READ: #StateCapture: I was used for something very perverse – whistleblower
I was never asked to change a number, says outgoing Stats SA boss
At no point during his reign as head of Statistics South Africa did government ask him to change a number, said outgoing statistician general Pali Lehohla,
Lehohla, who will be leaving his position at midnight, presented the third-quarter labour force survey results at Parliament for the last time after being at the helm of Statistics South Africa for the past 17 years.
READ: I was never asked to change a number, says outgoing Stats SA boss
Gupta firms turned away from Postbank
Gupta-owned and linked companies were turned away from Postbank, after they requested opening a bank account with the South African Post Office’s bank.
This was revealed in written Parliamentary papers on Tuesday.
“No member of the Gupta family approached the Postbank to open up an account,” said Telecommunications and Postal Services Minister Siyabonga Cwele in an updated parliamentary response. “An employee from JIC Limited approached the Postbank’s head of sales and customer care telephonically in August 2016 to open an account.
“The Postbank requested details of the company and financial statements. Upon receipt of this information, Postbank established that JIC Limited is part of the Oakbay Investments (Pty) Ltd.”
READ: Gupta firms turned away from Postbank
Gigaba calls Eskom tariff hike application ‘unjustified’
Finance Minister Malusi Gigaba said on Tuesday that power utility Eskom’s application for a 19.9% electricity tariff hike next year is “unjustified”.
Gigaba was addressing a business breakfast in Umhlanga, north of Durban, organised by the Durban Chamber of Commerce and Industry.
“To ask South Africans to pay more … when the economy is subdued and the mid-term outlook is as subdued as it is and we have the types of financial and leadership challenges that Eskom is now experiencing, I think that will serve as a perverse incentive,” he said. “We’ve got to be careful what we do.”
READ: Gigaba calls Eskom tariff hike application ‘unjustified’
Call to strengthen EU money laundering laws over Gupta graft allegations
The UK Labour Party’s economic affairs spokesperson in the European Parliament, Neena Gill, has requested a review of the EU’s laws on money-laundering over concerns that European banks have become embroiled in allegations of corruption around the Gupta family.
Gill said in a media release on Monday that she had tabled questions for European Commission President Jean-Claude Juncker, calling for a strengthening of the EU’s anti money laundering rules governing EU financial institutions active in third countries.
“I raised the issue of European financial institutions’ potential involvement in the South African money laundering scandal with the EU Commission, after my Labour colleague in the House of Lords, Peter Hain, brought it to my attention,” Gill said.
READ: Call to strengthen EU money laundering laws over Gupta graft allegations
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