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Eskom facing threats on multiple fronts, Maritz acknowledges

By: Terence Creamer     12th October 2017 Eskom’s newest interim group CEO Sean Maritz has acknowledged that the utility is facing threats on multiple fronts in light of rapid changes to the global electricity landscape and the constrained outlook for domestic electricity sales. However, in a statement calling for “space and time to... 

McKinsey says will pay back fees if South African court finds Eskom deal illegal 

By: Reuters     10th October 2017 McKinsey will repay fees it earned for six months' work last year at South African State utility Eskom if a high court finds the deal was unlawful, the global consultancy said on Tuesday. Eskom had given McKinsey and its local partner Trillian until Tuesday to repay R1.6-billion ($117-million) in... 

Black Business Council says Eskom CEO musical chairs doesn’t inspire confidence 

By: African News Agency      9th October 2017 The Black Business Council (BBC) said on Monday that it was concerned by the sudden change of leadership at State-owned power utility Eskom, saying that government must give the enterprise some space and not meddle in its affairs. This comes after Eskom last week appointed its chief information... 

Eskom asks McKinsey, Trillian to return R1.6bn

By: Reuters     6th October 2017 South Africa's Eskom has asked consultancy firms McKinsey and Trillian to pay it back R1.6-billion ($117-million), saying that an internal inquiry had found that the State power utility's decisions to make the payments were unlawful. "The interim findings from Eskom investigations into the... 

Brown has received report from Eskom on Trillian

By: African News Agency      4th October 2017 Public Enterprises Minister Lynne Brown on Wednesday told MPs she had received a report from Eskom about its dealings with Trillian and McKinsey which she demanded after it emerged that the power utility had lied to Parliament, but made plain that she will not act against the leadership of... 

Auditing firm cuts ties with Gupta’s Oakbay

By: Sane Dhlamini     27th September 2017 The board of auditing firm Sizwe Ntsaluba Gobodo (SNG) has resigned as auditors of Gupta-owned Oakbay Resources and Energy Limited and its related entities. The auditing firm’s statement stipulates that this decision was made after a thorough assessment of its relationship with the company which... 

Gigaba calls for criminal probe into KPMG

By: Reuters     22nd September 2017 South African law enforcement agencies should investigate KPMG after the global auditor sacked its top management over work done for business friends of President Jacob Zuma, Finance Minister Malusi Gigaba said on Friday. KPMG dismissed its South African division's top management last week... 

Data visualisation being used to optimise supply chains

By: Schalk Burger     22nd September 2017 Supply chain solutions specialist Resolve Solution Partners leverages its technology platforms and systems to simulate various permutations and changes to clients’ logistics processes to develop solutions to problems and improve on current business models. Data visualisation is a powerful tool... 

Two more firms fire KPMG as corporate South Africa weighs links with auditor

By: Reuters     19th September 2017 A South African broker and an energy investment firm fired KPMG on Tuesday, two of a host of local firms weighing whether to ditch the auditor to distance themselves from a scandal involving business friends of President Jacob Zuma. Sasfin and Hulisani, both relatively small financial companies... 

KPMG South Africa shakes out top management over Gupta scandal

By: Reuters     15th September 2017 Global auditor KPMG cleared out its South African leadership on Friday after damning findings from an internal investigation into work done for the Guptas, businessmen friends of President Jacob Zuma accused of improperly influencing government contracts. KPMG's investigation did not identify any... 

Brown extends Eskom deadline, demands more info

By: News24Wire      1st September 2017 Public Enterprises Minister Lynne Brown has extended the 48-hour deadline given to Eskom on Tuesday. She has asked the state utility to provide more information regarding payments and business relations related to the Gupta-linked Trillian firm. 

Brown tells Eskom to come clean on Trillian in two days

By: African News Agency      29th August 2017 Public Enterprises Minister Lynne Brown on Tuesday, gave Eskom a 48-hour deadline to heed her instruction to clarify its relationship with Trillian, her spokesman said. “In June, Minister Brown requested Eskom’s board to clarify issues relating to its Trillian relationship. Following further... 

Outa lays charges against Singh

By: Natasha Odendaal     29th August 2017 The Organisation Undoing Tax Abuse (Outa) has taken legal aim at State-owned power utility Eskom’s suspended CFO Anoj Singh following revelations that the power utility had allegedly lied about some of the payments made to Gupta-linked firm Trillian. Outa COO Ben Theron on Tuesday said charges of... 

Undocumented capture?

By: Terence Creamer     28th July 2017 Arguably one of the most telling statements made at last week’s Eskom results presentation was the public assurance given by interim CEO Johnny Dladla that “no decision would, in future, be taken outside the executive committee meetings. “Whatever decision is taken, it will be a decision that is... 

State capture casts long shadow over Eskom’s results  

By: Terence Creamer     19th July 2017 South Africa’s worst kept corporate secret was confirmed on Wednesday, when Eskom reported a sharp fall in after-tax profits to R888-million in 2017, from over R5-billion in the previous financial year. However, the results were overshadowed by serious allegations of corruption and... 

Design Thinking: The X factor in your digital transformation

     24th March 2017 You may have heard about the sword of Damocles, hanging above its target by a single hair. It’s a metaphor often used to describe impending doom, yet this is not the actual meaning. The story goes that a servant was taken by all of a king’s wealth and wanted to partake in that luxury. The king... 

Consumer choices will increasingly drive ‘circular’ manufacturing

By: Schalk Burger     17th February 2017 Manufacturing worldwide is far from adopting circular resource-use principles into the practical reality of its design and distribution streams, but consumer choices can change this reality, says engineering company Aurecon manufacturing market director Tim Plenderleith. Multinational consultancy... 

Going beyond the Limits to Growth debate

By: Saliem Fakir     10th February 2017 The Limits to Growth (LTG) thesis was developed in the 1970s by a group of experts collectively called the Club of Rome. They used a computer (at that time, they did not have sufficient data or the computing power that we have today) model to link exponential population growth, income/gross... 

Trillian to investigate alleged pre-knowledge of ‘Nenegate’

By: Anine Kilian     27th October 2016 Following a Sunday Times article published last week alleging that a member or members of advisory group Trillian had pre-knowledge that President Jacob Zuma would replace former Finance Minister Nhlanhla Nene with now Cooperative Governance and Traditional Affairs Minister Des van Rooyen, Tokyo... 

Mining Indaba, McKinsey plot way forward for African mining

By: Martin Creamer     8th February 2016 All African mining companies can and should take steps to improve productivity and reallocate capital, while about half have the capacity to merge with or acquire companies. On day one of the Investing in African Mining Indaba here, a jointly developed report from McKinsey’s basic materials... 

US trade mission to touch down in S Africa this week

By: African News Agency      15th September 2015 Representatives of more than 100 US companies will descend on South Africa this week to gauge possible trade and investment opportunities, the US Embassy said on Tuesday. The companies, from 25 states, are part of the US Department of Commerce’s Trade Winds – Africa mission, which aims to create... 

595% return for investors in world-first life-science organisation

By: Creamer Media Reporter      13th September 2013 As the world’s first life-science organisation providing intellectual property asset management services and scientific advice to the global biopharmaceutical industry, Sydney-based IQNovate Ltd sits squarely in an in-demand space. In less than two years, IQNovate has achieved a 595 per cent... 

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