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'Graft hits energy skills'

Jun 05 2008 18:48

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Johannesburg - The National Union of Metalworkers (Numsa) has instituted "shocking" corruption charges against officials of the Energy Sector Education Training Authority (Eseta) over alleged siphoning of millions of rands meant for skills training of workers.

In a statement on Thursday, Numsa lodged a "bombshell" indictment against senior officials for pillaging millions of rands meant for skills training.

It said Eseta board chairperson Johnny Olivier had announced his resignation with immediate effect after a forensic audit investigation into the damning fraud and mismanagement allegations had been launched.

"Numsa is aware of the resignation letter and gladly accepted it."

The union said the authority's chief executive officer had also summarily been placed on suspension pending the outcome of the investigation into alleged fraud.

"Over the past two years several complaints of conflicting interests among some Seta board members have been streaming in, including inferior training offered by a major service provider which was favoured by board members said to be attached to the company."

Numsa said it could reveal that it recently interrupted an inflated R11m claim by the errant training providers which was "improperly" approved by the same training authority.

However, Eseta's human resources and marketing communications officer Nkosinathi Mkhize said on Thursday that operational management was not aware of Olivier's resignation or of allegations of fraud and corruption.

- Sapa

 
 
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Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

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