Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Cipro heading for parliament

Apr 11 2010 08:53 Jana Marais

Related Articles

Cipro woes smack bean counters

Davies considering Cipro report

Frustration as Cipro problems mount

Cipro chief suspended over probe

Cipro exec put on special leave

Cipro official 'suspended'

 

Top Stories

Cell C move sparks price war

May 27 2012 11:21

There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.

MyCiti buses running at a loss

May 28 2012 07:53

The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.

Another golf estate victim

May 27 2012 13:09

The oversupply of golf estates has claimed another victim.

 
Share Share line Print

Johannesburg - Details of a controversial tender worth R153m for a new electronic content-management system for the beleaguered Cipro (Companies and Intellectual Property Registration Office) will soon be aired in parliament, the auditor-general and trade and industry department have said.

The tender, awarded to the unknown company VALORit despite it being almost R90m more than that of the JSE-listed Faritec, has been investigated by the auditor-general and an independent forensic team.

Auditor-general spokesperson Africa Boso said his institution's report on the awarding of the tender will reach parliament next week, and will follow all the standard procedures for tabling.

Minister of Trade & Industry Rob Davies said in a statement that he was busy obtaining advice on the findings contained in the forensic investigation team's report.

Davies appealed to the staff and management of Cipro to approach him with any further information they might have about allegations of corruption at the institution, and promised to protect informers.

It is alleged that Michael Twum-Darko, the suspended Cipro head of information, influenced the process to get the tender awarded to VALORit.

Cipro CEO, Keith Sendwe, who has been on indefinite sick leave, is also implicated in the allegations.

Despite the massive price difference and the alleged irregularities, the tender was also endorsed by Tshediso Motana, director-general of Trade & Industry.

Defective information technology infrastructure at Cipro has in recent months led to massive holdups for clients who have struggled to execute even basic functions. There are fears that

VALORit's deficient experience means that the pricey new electronic system won't resolve the problems.

Davies has again committed himself to root out any form of corruption within Cipro. A South African Police Service investigation into various allegations of corruption at Cipro is ongoing, Davies observed.

- Sake24.com

For business news in Afrikaans, go to Sake24.com.

 
 
Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
It pays to know the cost and what you’re getting in return
May 28 2012 09:33

Investors may not have a clue what they’re paying their money managers or they type of service they’re getting, or, whether they can actually negotiate lower fees. (Reuters)

Sasha

"In the short term this is true, Greece will dominate the headlines on a day to day basis, until their next elections when there would be some clarity to answer the question, "What next for Greece?" Amazingly everyone except the politicians seem to be lining themselves up for worst case scenario, b... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

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

Loading...