How can we expect senior citizens to survive on such a paltry pension
Death or disappearance by design? Assassination or assisted suicide?
It is my suspicion that Markus Jooste, the former CEO of Steinhoff International, never committed suicide. It was a grand scheme orchestrated to simply disappear and escape accountability, with the assistance of corrupt police and high-powered politicians.
Your sister newspaper in Johannesburg, The Star, corroborates that by reporting on a recent police-source disclosure that there has not been a post-mortem or morgue number. Jooste was fined R475 million by the Financial Sector Conduct Authority for accounting fraud whereby he manipulated and systematically siphoned millions from the government's pension fund.
A day before a warrant for his arrest was issued, he was said to have committed suicide by gunshot at Hermanus on March 21, 2024.
Gavin Watson, the former CEO of African Global Operations (Bosasa), apparently died in a car accident in Johannesburg on August 20, 2019. The same modus operandi could have played out here. The accident happened when Watson's car collided with a concrete pillar. A case of culpable homicide was opened by SAPS. Watson's death was shrouded in controversy with some speculating about the circumstances surrounding the accident.
A private pathology report hinted that Watson may have been dead before the accident. Former president Jacob Zuma, who delivered the eulogy at his funeral, hinted at the possibility of an assassination. A big-league benefactor of the ANC and Cyril Ramaphosa's presidential campaign, Watson was fingered in state-capture allegations, including bribery and money laundering, during judicial hearings in January 2019. Between 2003 and 2018, his company notched up government tenders worth R12 billion.
Poised on the brink of unpredictability and careful to conceal whatever troubled thoughts lurk behind their public façade, how does one accommodate his self-concept to the reality of imminent death? You've had so many victories in life until you met someone or something you can't beat.
Convicted murderer and a rape fugitive, Thabo Bester staged his own death in a jail-cell fire before escaping from prison in 2022. He was recaptured in Tanzania and currently is languishing in prison.A classic case of assisted-suicide was that of Brett Kebble, the mining magnate who was shot seven times on the night of September 27, 2005.
The circumstances surrounding his death are complex and shrouded in controversy. Investigations revealed that Kebble's death was an assisted-suicide orchestrated by himself. His security chief, Clinton Nassif, reportedly hired hitmen Micky Schultz, Nigel McGurk and Faizel Smith to put Kebble in an early flight. The reasons behind Kebble's death were linked to his financial troubles and alleged corporate fraud, including the misappropriation of R2bn worth of shares from one of his companies.
As a nation, we need to believe in the necessity for truth. Whether it was a 'mares nest' or not, only time will tell. For now innuendo and conjecture will continue to fan the flames of scuttlebutt around the fire, while we warm ourselves to paranoid perceptions. From the above brief accounts, we can deduce that these were individuals whose modus vivendi (way of living)was the pursuit of power and pelf, and that they were politically connected and ruthlessly embraced the lure of greed and self-aggrandisement by engaging in graft, bribery, corruption, racketeering and money laundering. | KEVIN GOVENDER uMhlatazana
Our senior citizens really deserve better
The more our country's people read, think and understand our so-called Government of National Unity's (GNU) support for our pensioners the more the government's insensitivity and care-not-a-damn attitude are revealed.
In a survey of 90 countries where elderly people can live comfortably South Africa ranks 84th. Because of the poor support and care of government ministers, the life expectancy among our pensioners is 64, contrasting with Switzerland's 84.
Even with their tested glasses and cataracts removed these ministers cannot see that they are making our senior citizens suffer.
A disgraceful set of ministers who are showing no mercy are destroying the life of our poor, old age citizens. In South Africa pensioners receive a piddling R2 200 per month. Zambia provides a pension equivalent to R3 830 per month.
What has gone wrong in this country? How can these old people live when they face innumerable challenges almost daily in their twilight years? They have to look for money to pay rent, pay for services, buy food, pay for medical expenses, pay school fees, and take care of university education, attend to different kinds of sickness and have a whole lot of other worries.
Yet the 'kings' of this country, that is ministers and parliamentarians, are living in the lap of luxury at the expense of the taxpayer. You and I are being robbed. Ministers earn in excess of R300 000 per month, pensioners get R2 200.
How do these ministers sleep at night?
Knowing how corrupt some of these so-called 'leaders' sitting in Cape Town are, is it possible that they are taking heavy drugs?These drugs have an effect on their thinking capacity because some come to parliament to sleep.
Incidentally many sleep with their eyes open.
I want to offer two pieces of advice to our lawmakers:
■ Increase old-age pension to a minimum of R3 830 per month.
■ Give every pensioner a bonus cheque during Christmas – that is give them a double payment in December.
However, if these so-called 'leaders' feel guilty, they could ask treasury to pay all parliamentarians and ministers only 10% of what they get.
Since I am still an IFP member, I would ask all ministers and the deputy ministers of the IFP to move a motion in parliament according to my proposal.
If Dr Mangosutho Buthelezi were alive were alive today, he would fire all of them. | KAMAL PANDAY Reservoir Hills
Great idea. Let's roll back climate change
Last Thursday's image of high-rise buildings towering into the sky is very significant. It was like trees in a jungle competing with one another for sunlight.
But only here it seems the high-rise buildings in China's Chongqing municipality were reaching up into the sky for fresh air! It looks so dense it could be suffocating. How dreary the picture looks!
All over the world there's an influx of people from rural villages into the cities because they are seeking the comforts of the modern world. As this trend gains momentum, there's a proliferation of man- made concrete jungles, like the one in Chongqing.
Modern man does not plant trees, instead he builds concrete jungles, but they come at a heavy price. The globe's population explosion has seen the rapid spread of urban life with disastrous consequences for the environment, ecosystems and wild life.
If you want to know why so many natural disasters – from droughts to wildfires to floods, among other – are occurring around the world, look no further than our smog-filled cities. It is unchecked human activity that's at the root of climate change.
Temperatures in Europe are soaring because it is heavily urbanised. There were record-breaking temperatures in June.
Of course, there are others who will dispute this, but how blind could they be?
Concern is mounting worldwide about the ever-increasing temperatures. Our country has joined the growing chorus of voices calling for measures to halt climate change and the Department of Forestry, Fisheries and the Environment has an ambitious plan to plant a million trees on Heritage Day. Wonderful idea!
I hope this initiative gains ground and we can roll back climate change. | T Markandan Kloof
DAILY NEWS
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Eyewitness News
21 hours ago
- Eyewitness News
EFF says won't allow Starlink in SA, calls company a security threat
CAPE TOWN - The Economic Freedom Fighters (EFF) says it won't allow Starlink to enter the South African market, calling the satellite internet company a security threat. The party also repeated its objection to new regulations by Minister Solly Malatsi to allow equity equivalence for multinational information and communications technology (ICT) sector global players. Equity equivalence is investing in other forms of transformation, instead of companies offering a 30% stake to local black investors. READ: Starlink plans R2bn investment to bypass BEE regulations and switch on service in SA Parties again voiced their objection to Starlink during the communication and digital technologies budget debate following its tabling by Malatsi on Friday. EFF Member of Parliament Sinawo Thambo said amending BEE regulations on local ownership can't be done through a policy directive by the minister. Malatsi stated that the regulations are to align ICT sector codes and broader transformation laws. 'This is a proposal we've objected to because the so-called alignment would require an amendment to legislation and can't be achieved through a ministerial policy directive,' said Thambo. He added that the directive was designed to allow the likes of the Elon Musk-owned Starlink to operate in the country, and this can't be allowed. 'Even if Starlink were to meet equity equivalence requirements, there's a security threat that it poses that must never be allowed to operate in South Africa, and we will never allow it.' The African National Congress (ANC)'s Khusela Diko also added her opposition, saying multinational platforms like Starlink can't be allowed to dictate the country's digital reality.

IOL News
2 days ago
- IOL News
South Africa's crypto market faces regulatory reckoning amid tax demands
The Financial Sector Conduct Authority introduced licensing requirements for crypto asset service providers under the Financial Advisory and Intermediary Services Act, aiming to strengthen consumer protection by classifying crypto assets as financial products. Image: Independent Newspapers/File AS South Africa's cryptocurrency sector hurtles through a turbulent regulatory and tax landscape, evolving rules and heightened scrutiny are forcing investors and service providers to scramble for clarity. As regulatory authorities tighten their grip, questions loom large: How do capital gains taxes apply to crypto disposals? What exactly are the obligations for those simply holding digital assets? While cryptocurrencies may not be legal tender, the SA Revenue Service (Sars) has made one thing clear — it is treating them as taxable intangible assets, triggering capital gains tax upon sale or disposal. The Financial Sector Conduct Authority (FSCA) introduced licensing requirements for crypto asset service providers under the Financial Advisory and Intermediary Services (Fais) Act, aiming to strengthen consumer protection by classifying crypto assets as financial products. Meanwhile, the Gauteng High Court's recent ruling on cryptocurrencies and exchange control regulations sparked significant debate, with the SA Reserve Bank (Sarb) appealing the decision and maintaining its stance that crypto is not legal tender. As the Sarb continues to shape its regulatory approach, crypto investors and service providers face ongoing challenges in adapting to this evolving landscape. Adding another regulatory layer is the Financial Intelligence Centre (FIC), which enforces anti-money laundering and counter-terrorism financing compliance, mandating registration and reporting duties for crypto providers. This dynamic regulatory environment seeks to balance innovation with investor safety and financial stability. To get more insight on this, the Sunday Independent spoke to Sebaga Matabane, the chief executive of a leading Crypto Firm as well as a derivatives and fintech expert. Matabane is also a recognised key opinion leader in Africa's fintech and digital assets space and an FSCA-approved key individual. She brings together deep regulatory insight, strategic foresight, and operational leadership. Sebaga Matabane is a derivatives and fintech expert and a recognised key opinion leader in Africa's fintech and digital assets space. Image: Supplied Sunday Independent (SI): How does the capital gains tax framework apply to cryptocurrency disposals for individual investors in South Africa? Sebaga Matabane (SM): When an individual in South Africa sells or otherwise disposes of cryptocurrency — whether by trading, converting to fiat, or using it for purchases — it triggers a capital gains tax (CGT) event. The first R40 000 of gains annually is excluded, after which 40% of the net capital gain is included in the individual's taxable income. For those in the top tax bracket, this translates to a maximum effective CGT rate of 18%. Timing and accurate record-keeping are key, especially as Sars sharpens its focus on digital asset transactions. SI: What are the tax implications for South African crypto investors who only hold their assets without disposing of them? SM: If you're merely holding crypto without selling, converting, or using it, there's no immediate tax liability — but that doesn't mean it flies under the radar. Sars requires all crypto holdings to be declared in your tax return, even if no taxable event has occurred. Think of it as financial transparency now, to avoid compliance issues later. SI: What licensing requirements does the FSCA impose on crypto asset service providers under the Financial Advisory and Intermediary Services (FAIS) Act? SM: The FSCA now defines crypto assets as financial products, which means any business offering crypto-related services — such as exchanges, trading platforms, or wallet providers — must be licensed as a Financial Services Provider (FSP) under the FAIS Act. This includes appointing approved key individuals, meeting fit and proper requirements, having compliant governance structures, and aligning with ongoing conduct obligations. The intention is to create market integrity, promote professionalism, and ensure consumer protection. SI: How does the FSCA's classification of crypto assets as financial products impact consumer protection in the crypto market? SM: This classification is a game changer. It brings crypto under the same protective framework as other financial instruments, enabling the FSCA to monitor and act against misconduct, misrepresentation, and unfair business practices. Consumers can now benefit from advice from licensed providers, recourse mechanisms, and better disclosure standards. It sets the stage for a more trustworthy and accountable market. SI: How is the SARB approaching the regulation of cryptocurrencies, given that they are not recognised as legal tender? SM: While the SARB maintains that crypto assets do not qualify as legal tender, it acknowledges their growing influence. Its approach is cautious but strategic: it collaborates with other regulators through the Intergovernmental Fintech Working Group (IFWG), explores use cases via sandbox environments, and keeps a close eye on systemic risk, monetary sovereignty, and exchange control circumvention. The Reserve Bank's messaging is clear: crypto is not a threat to ignore, but neither is it a form of money just yet. SI: What is the significance of the Gauteng High Court ruling regarding cryptocurrencies and exchange control regulations, and how might SARB's appeal affect this? SM: The Gauteng High Court's decision that cryptocurrencies are not subject to exchange control regulations has major implications — it effectively opens the door for freer movement of crypto across borders, which could impact capital flows, financial surveillance, and offshore structuring. However, the Sarb is appealing the ruling, signalling its intent to retain oversight. If the appeal succeeds, crypto flows may be subjected to stricter monitoring and reporting, reshaping how exchanges and OTC desks operate. It's a legal pivot point to watch. SI: What challenges do crypto investors and service providers face in navigating the evolving regulatory and tax landscape in South Africa? SM: The biggest challenge is regulatory ambiguity coupled with rapid change. Investors are grappling with complex tax reporting, unclear treatment of cross-border transactions, and a lack of practical guidance. Meanwhile, service providers must juggle licensing deadlines, AML/CFT compliance, FIC registration, and a mounting expectation of institutional-grade conduct — all while trying to remain agile and innovative. Ultimately, navigating this space requires a blend of legal foresight, tax expertise, and operational discipline. It is clear that the country's cryptocurrency sector stands at a critical crossroads, caught between the forces of innovation and regulation. Yet within this turbulence lies opportunity. The regulatory reckoning now underway could very well lay the foundation for a more secure, transparent, and mature crypto market. But success will depend on the ability of players to adapt swiftly, comply fully, and anticipate the next wave of regulatory evolution. In this high-stakes game of compliance and innovation, one thing is certain: the rules are being written — and those who understand them, shape them, or break them will define the future of crypto in South Africa, and Africa as a whole. Get the real story on the go: Follow the Sunday Independent on WhatsApp.

IOL News
3 days ago
- IOL News
How can we expect senior citizens to survive on such a paltry pension
High-stakes living does have its price Death or disappearance by design? Assassination or assisted suicide? It is my suspicion that Markus Jooste, the former CEO of Steinhoff International, never committed suicide. It was a grand scheme orchestrated to simply disappear and escape accountability, with the assistance of corrupt police and high-powered politicians. Your sister newspaper in Johannesburg, The Star, corroborates that by reporting on a recent police-source disclosure that there has not been a post-mortem or morgue number. Jooste was fined R475 million by the Financial Sector Conduct Authority for accounting fraud whereby he manipulated and systematically siphoned millions from the government's pension fund. A day before a warrant for his arrest was issued, he was said to have committed suicide by gunshot at Hermanus on March 21, 2024. Gavin Watson, the former CEO of African Global Operations (Bosasa), apparently died in a car accident in Johannesburg on August 20, 2019. The same modus operandi could have played out here. The accident happened when Watson's car collided with a concrete pillar. A case of culpable homicide was opened by SAPS. Watson's death was shrouded in controversy with some speculating about the circumstances surrounding the accident. A private pathology report hinted that Watson may have been dead before the accident. Former president Jacob Zuma, who delivered the eulogy at his funeral, hinted at the possibility of an assassination. A big-league benefactor of the ANC and Cyril Ramaphosa's presidential campaign, Watson was fingered in state-capture allegations, including bribery and money laundering, during judicial hearings in January 2019. Between 2003 and 2018, his company notched up government tenders worth R12 billion. Poised on the brink of unpredictability and careful to conceal whatever troubled thoughts lurk behind their public façade, how does one accommodate his self-concept to the reality of imminent death? You've had so many victories in life until you met someone or something you can't beat. Convicted murderer and a rape fugitive, Thabo Bester staged his own death in a jail-cell fire before escaping from prison in 2022. He was recaptured in Tanzania and currently is languishing in prison.A classic case of assisted-suicide was that of Brett Kebble, the mining magnate who was shot seven times on the night of September 27, 2005. The circumstances surrounding his death are complex and shrouded in controversy. Investigations revealed that Kebble's death was an assisted-suicide orchestrated by himself. His security chief, Clinton Nassif, reportedly hired hitmen Micky Schultz, Nigel McGurk and Faizel Smith to put Kebble in an early flight. The reasons behind Kebble's death were linked to his financial troubles and alleged corporate fraud, including the misappropriation of R2bn worth of shares from one of his companies. As a nation, we need to believe in the necessity for truth. Whether it was a 'mares nest' or not, only time will tell. For now innuendo and conjecture will continue to fan the flames of scuttlebutt around the fire, while we warm ourselves to paranoid perceptions. From the above brief accounts, we can deduce that these were individuals whose modus vivendi (way of living)was the pursuit of power and pelf, and that they were politically connected and ruthlessly embraced the lure of greed and self-aggrandisement by engaging in graft, bribery, corruption, racketeering and money laundering. | KEVIN GOVENDER uMhlatazana Our senior citizens really deserve better The more our country's people read, think and understand our so-called Government of National Unity's (GNU) support for our pensioners the more the government's insensitivity and care-not-a-damn attitude are revealed. In a survey of 90 countries where elderly people can live comfortably South Africa ranks 84th. Because of the poor support and care of government ministers, the life expectancy among our pensioners is 64, contrasting with Switzerland's 84. Even with their tested glasses and cataracts removed these ministers cannot see that they are making our senior citizens suffer. A disgraceful set of ministers who are showing no mercy are destroying the life of our poor, old age citizens. In South Africa pensioners receive a piddling R2 200 per month. Zambia provides a pension equivalent to R3 830 per month. What has gone wrong in this country? How can these old people live when they face innumerable challenges almost daily in their twilight years? They have to look for money to pay rent, pay for services, buy food, pay for medical expenses, pay school fees, and take care of university education, attend to different kinds of sickness and have a whole lot of other worries. Yet the 'kings' of this country, that is ministers and parliamentarians, are living in the lap of luxury at the expense of the taxpayer. You and I are being robbed. Ministers earn in excess of R300 000 per month, pensioners get R2 200. How do these ministers sleep at night? Knowing how corrupt some of these so-called 'leaders' sitting in Cape Town are, is it possible that they are taking heavy drugs?These drugs have an effect on their thinking capacity because some come to parliament to sleep. Incidentally many sleep with their eyes open. I want to offer two pieces of advice to our lawmakers: ■ Increase old-age pension to a minimum of R3 830 per month. ■ Give every pensioner a bonus cheque during Christmas – that is give them a double payment in December. However, if these so-called 'leaders' feel guilty, they could ask treasury to pay all parliamentarians and ministers only 10% of what they get. Since I am still an IFP member, I would ask all ministers and the deputy ministers of the IFP to move a motion in parliament according to my proposal. If Dr Mangosutho Buthelezi were alive were alive today, he would fire all of them. | KAMAL PANDAY Reservoir Hills Great idea. Let's roll back climate change Last Thursday's image of high-rise buildings towering into the sky is very significant. It was like trees in a jungle competing with one another for sunlight. But only here it seems the high-rise buildings in China's Chongqing municipality were reaching up into the sky for fresh air! It looks so dense it could be suffocating. How dreary the picture looks! All over the world there's an influx of people from rural villages into the cities because they are seeking the comforts of the modern world. As this trend gains momentum, there's a proliferation of man- made concrete jungles, like the one in Chongqing. Modern man does not plant trees, instead he builds concrete jungles, but they come at a heavy price. The globe's population explosion has seen the rapid spread of urban life with disastrous consequences for the environment, ecosystems and wild life. If you want to know why so many natural disasters – from droughts to wildfires to floods, among other – are occurring around the world, look no further than our smog-filled cities. It is unchecked human activity that's at the root of climate change. Temperatures in Europe are soaring because it is heavily urbanised. There were record-breaking temperatures in June. Of course, there are others who will dispute this, but how blind could they be? Concern is mounting worldwide about the ever-increasing temperatures. Our country has joined the growing chorus of voices calling for measures to halt climate change and the Department of Forestry, Fisheries and the Environment has an ambitious plan to plant a million trees on Heritage Day. Wonderful idea! I hope this initiative gains ground and we can roll back climate change. | T Markandan Kloof DAILY NEWS