• Inside Labour

    Government's farming policies have had a damaging effect, says Terry Bell.

  • Hunter feeling the heat

    The killer of Cecil the lion is now the one getting hunted - by outraged Americans.

  • Making media behave

    Is patriotic reporting another name for whitewashing corruption, asks Leopold Scholtz.

Loading...
See More

SANDF's secret R13bn fund

Jul 31 2012 08:57
Sapa

Johannesburg - The SA National Defence Force has had three years of its spending, about R13bn, exempted from public view, the Star newspaper reported on Tuesday.

Finance Minister Pravin Gordham exempted the three years of spending of the Special Defence Account from the Public Finance Management Accounting Act "apparently to make sure the spending stays secret," the newspaper wrote.

The account is for the purchase of weapons and equipment as well as covert activities.

The National Treasury said the exemption was only an "accounting issue" after new accounting practices were introduced in 2010. The account would have to publish separate reports but the SDA funded activities which "cannot be disclosed."

Treasury spokesperson Jabulani Sikhakhane denied the SDA was a slush fund and said Defence was accountable to Parliament for the use of the funds.

 
sandf

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About...

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Introducing tablets in schools is:

Previous results · Suggest a vote

Loading...