Share

'Something rotten with Cape stadium'

Cape Town - The City of Cape Town should commission a forensic investigation into the cost of its 2010 soccer stadium, Cosatu Western Cape said on Wednesday.

"The fact that the price nearly doubled after the initial budget should have raised a red flag to the most inexperienced accountant," the union federation said in a statement.

The increase had to raise serious questions about the suitability of the city's procurement practices.

"These questions can only be answered by an independent forensic audit that investigates all the parties involved," it said.

"The City of Cape Town should initiate this forensic audit, given the location of the stadium and the involvement of the mayor's office."

Last week the Cape Regional Chamber of Commerce and Industry said the city would be compelled to take legal action against construction firms should there be proof of collusion in the stadium bid.

The Competition Commission has said all five of South Africa's major companies were involved in anti-competitive behaviour. One of the projects the commission investigated was the Cape Town stadium, where costs ballooned from R2.9bn to R4.3bn.
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.11
+0.4%
Rand - Pound
23.80
-0.4%
Rand - Euro
20.46
-0.0%
Rand - Aus dollar
12.40
-0.2%
Rand - Yen
0.12
+0.4%
Platinum
920.40
-1.1%
Palladium
1,026.50
+1.1%
Gold
2,322.61
-0.2%
Silver
27.34
+0.6%
Brent-ruolie
87.00
-0.3%
Top 40
68,051
+0.8%
All Share
74,011
+0.6%
Resource 10
59,613
-2.2%
Industrial 25
102,806
+1.7%
Financial 15
15,897
+1.8%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders