logo
QUICK READ: IDC loses R74 million on phantom Kenyan boats - City Press Sunday investigation

QUICK READ: IDC loses R74 million on phantom Kenyan boats - City Press Sunday investigation

News242 days ago
Catch up on Sunday's City Press exposé about how the state-owned Industrial Development Corporation (IDC) lost millions to a Kenyan company that promised to build boats but vanished with the funds.
Key Points
Wider corruption uncovered: Forensic investigations found Ogwang used eight different email addresses, had financial interests in 10 other IDC-funded companies, and shared confidential documents externally - prompting recommendations for criminal proceedings.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Standard Bank CEO Sim Tshabalala, CFO Daehnke to Retire in 2027
Standard Bank CEO Sim Tshabalala, CFO Daehnke to Retire in 2027

Bloomberg

time11 minutes ago

  • Bloomberg

Standard Bank CEO Sim Tshabalala, CFO Daehnke to Retire in 2027

Standard Bank Group Ltd. Chief Executive Officer Sim Tshabalala and Group Chief Finance and Value Management Officer Arno Daehnke will retire by the end of 2027, even as the lender increased the retirement age for its executives. While Africa's biggest bank by assets raised the retirement age for its executives to 63 from 60, that won't apply to Tshabalala and Daehnke, the lender said in an emailed statement on Thursday.

Soweto mall forced to close following protest, murder of e-hailing driver
Soweto mall forced to close following protest, murder of e-hailing driver

News24

time11 minutes ago

  • News24

Soweto mall forced to close following protest, murder of e-hailing driver

Maponya Mall in Soweto was forced to close its doors on Thursday after residents blocked roads near the shopping centre with bricks. This followed an attack on e-hailing drivers on Wednesday that left one dead and two injured. The tensions between e-hailing and other taxi drivers has been escalating in Soweto in recent months. Workers from retailers in the mall were on the side of the road as residents protested. Residents living near the mall told News24 that the ongoing taxi violence left them feeling unsafe. A vehicle was also set alight after the shooting on Wednesday evening. Lesiba Mpya, spokesperson for the Gauteng MEC for Roads and Transport, described the killing and tensions as an 'unfortunate and barbaric'. 'This is a reaction from the community. They want to protest against what has happened. They don't want activity in the mall today,' Mpya said.

BP-Eni Venture Puts Namibia Oil Find on Fast Track to Output
BP-Eni Venture Puts Namibia Oil Find on Fast Track to Output

Bloomberg

time41 minutes ago

  • Bloomberg

BP-Eni Venture Puts Namibia Oil Find on Fast Track to Output

Azule Energy, a BP Plc and Eni SpA joint venture, is fast-tracking its Namibia oil operations as it competes with companies including TotalEnergies SE to be among the first to produce crude in one of the world's newest hotspots. Azule last year negotiated a stake in Namibia's block 2914A from operator Rhino Resources, and the partners found oil at the Capricornus well in April. A final investment decision on the project by the end of next year is challenging but possible, which would mean production can begin by 2029, Azule's Chief Executive Officer Adriano Mangini said.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store