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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 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Cape Town - Seventeen Land Bank officials have been investigated following the completion of various forensic reports into irregularities at the bank.
The investigations exposed more than R1bn worth of malpractices and fraud.
Responding to a question in parliament, Minister of Finance Pravin Gordhan said 12 members of staff had been dismissed, one suspended and one has already been criminally prosecuted and sentenced.
Three of the 17 employees were reappointed after the investigations, but one of the three subsequently resigned.
In the IT unit three employees were found guilty and dismissed.
Three officials responsible for the credit scheme for small and emerging farmers, Mafisa, were found guilty of misconduct, negligence and fraud and subsequently dismissed.
For loans granted outside the bank's mandate, two officials were found guilty of gross misconduct, but one won an appeal against the finding and was reappointed.
In the AgriBEE fund one official was suspended owing to gross negligence.
Five other charges including fraud were investigated; one official won an appeal and was reappointed.
- Sake24.com
For more business news in Afrikaans, go to Sake24.com.