The Reserve Bank has seized more than R1.4bn worth of assets belonging to former Steinhoff CEO; Transnet CEO Portia Derby says that 70-80% of workers were back on the job on Tuesday; the City of Johannesburg Mayor says plans are being made to improve the City’s ailing water infrastructure; and South Africa will unveil details on how it plans to cut emissions next month, but Mantashe has his reservations.
The Reserve Bank has seized more than R1.4 billion worth of assets belonging to former Steinhoff CEO Markus Jooste, his wife and his family trust. This is the first move against the former CEO, relating only to suspected exchange control infringements rather than the broader fraud involving R106 billion in “fictitious and irregular transactions” that duped a wide array of pension funds and investors in the country five years ago.
[City of Johannesburg Mayor, Dada Morero, says plans are being made to improve the city’s ailing water infrastructure. He added that the department and relevant municipalities have agreed to treat the issue as a top priority. This follows after some areas in the city have been battling water shortages and intermittent supply for weeks.
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