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May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
May 25 2012 19:13
Uncertainty over the future of the euro zone returned to push the rand down against the dollar.
May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
Johannesburg - The Communication Workers' Union (CWU) asked Minister of Communication General Siphiwe Nyanda to appoint a commission to investigate allegations of irregularities and nepotism at Vodacom.
This call follows a report in the Sunday Times that Vodacom is trying to bottle up a KPMG forensic report.
The report apparently contains, among other issues, claims that former group chief executive Alan Knott-Craig used Vodacom's resources to his family's advantage.
These accusations include the charge that Knott-Craig's son, Alan Knott-Craig Junior, received millions of rands and office space to build and promote his business, and that a company belonging to family members received an exclusive marketing contract in an irregular manner.
But Knott-Craig has issued his own statement to say that he did nothing wrong and had at all times conducted himself with propriety.
In its own statement Vodacom confirmed that its shareholders (then Telkom and Vodafone) had requested an independent report in response to allegations by several former employees in 2008.
Eighteen allegations have apparently been investigated and two are considered worthy of further investigation.
- Fin24.com
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