Top South Africa Bank Capitec Names Lee CEO as Fourie to Retire
Capitec Bank Holdings Ltd., South Africa's biggest bank by number of customers, named Graham Lee its chief executive officer as Gerrie Fourie plans to retire.
Lee, who heads up the lender's retail unit, will take over on July 19, the Stellenbosch, South Africa-based lender said in a statement Friday.
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News24
11 minutes ago
- News24
Lottery jackpot: Mashatile's family tied to new multibillion-rand operator deal
Adding to concerns over political interference in the award of the fourth national lottery licence, it has emerged that Deputy President Paul Mashatile's sister-in-law has a stake in the game. Khumo Bogatsu is the twin sister of second lady Humile Mashatile and co-owns Bellamont Gaming with Moses Tembe. The company is a shareholder of Sizekhaya Holdings. In May, Trade and Industry Minister Parks Tau announced Sizekhaya as the winning bidder for the multibillion-rand tender. Sizekhaya Holdings, which landed the lucrative licence to operate South Africa's national lottery for eight years, has links to Deputy President Paul Mashatile. Among Sizekhaya's shareholders is Bellamont Gaming, a company co-owned and co-directed by Khumo Bogatsu – Mashatile's sister-in-law – and Moses Tembe, the KwaZulu-Natal businessman who chairs Sizekhaya – and seems close to Mashatile. Bogatsu is the twin sister of Humile Mashatile, born Bogatsu. The deputy president and Humile were married in a lavish set of celebrations attended by the political and business elite in March 2023. Bellamont Gaming was registered nine months later, in December 2023, with Tembe and Bogatsu as its founding and still only directors. Bellamont and consortium partners then registered Sizekhaya just days before last year's 3 February deadline to contest the fourth national lottery licence. Trade, Industry and Competition Minister Parks Tau finally announced the award to Sizekhaya on 28 May this year after protracted delays and what he called an 'arduous exercise' of evaluating eight applications. The National Lotteries Commission, which answers to Tau, helps adjudicate licence bids. The lottery licence is almost literally a licence to print money. The outgoing operator, Ithuba Holdings, reported a R7.28 billion turnover in 2024. Bogatsu and Tembe's joint involvement adds to widespread fears that the politics of patronage may have intruded on the award process. Tembe stays in a palatial residence on Bellamont Road above Umdloti Beach north of Durban – a road that lent its name to Bellamont Gaming and about a dozen other companies in Tembe's corporate arsenal. People from the area, who asked not to be named, said Mashatile and Humile had frequented Tembe's home, particularly last year when the deputy president's sizable motorcade made itself known. In February last year, they allegedly stayed over for around six days ahead of the ANC's election manifesto launch in Durban. A picture shows Tembe and Mashatile together at St Paul's Anglican Church where the party was honouring those who lost their lives in a bus crash returning from the manifesto launch at Moses Mabhida Stadium. The manifesto launch was on 24 February, three weeks after the lotto bid deadline. Tembe has been seen at Mashatile's side in public, including in May this year as part of the business delegation that accompanied the deputy president to France for an investment conference. In a terse response to amaBhungane's questions, Mashatile's spokesperson, Keith Khoza, denied the deputy president had interfered. He said: He has nothing to do with the licence award process as it does not fall within the ambit of his delegated functions nor did he participate in any way, shape or form. Similarly, the business relationship with any of the parties involved has nothing to do with the [deputy president] and his wife. Khoza did not respond to detailed questions about Mashatile's relationship with Tembe and the new lotto operator, nor whether he was briefed – formally or informally – on the lottery bid. National Lotteries Commission spokesperson Rudzani Tshigemane referred questions to Tau's department, which did not respond to amaBhungane's query. Sizekhaya Holdings, answering on behalf of itself, Bogatsu and Tembe, said it rejected 'with the utmost seriousness, any suggestion that our successful bid for the national lottery licence was influenced by political proximity'. Bellamont-Sizekhaya web Tembe, among numerous other business interests, directs 14 companies bearing the Bellamont name and is active in a wide swathe of economic activity. He has served as secretary-general of the KwaZulu-Natal branch of the National African Federated Chamber of Commerce and Industry, president of the Durban Chamber of Commerce and Industry, and board member of the South African Chamber of Commerce UK and KwaZulu-Natal National Business Initiative. He also co-chaired the KwaZulu-Natal Growth Coalition with then-premier Sihle Zikalala. Bogatsu, for her part, has co-directed three companies with her sister – Mashatile's wife – though they have since been deregistered, according to company registration records. Neither the size of Bogatsu and Tembe's respective stakes in Bellamont Gaming nor Bellamont's in Sizekhaya have been made public. Sizekhaya confirmed Bogatsu held shares in Bellamont. It said Bellamont in turn was a 'minority shareholder' in Sizekhaya and 'a legally compliant gaming entity'. Publicly available information records the Goldrush Group as Sizekhaya's largest shareholder, with 50%, which will decrease to 40% when a stake is issued to a government entity in line with licensing conditions. Goldrush is in turn 59.4%-owned by JSE-listed Goldrush Holdings, whose shareholders include Mauritian-based Astoria Investments and local investors Jan van Niekerk and Piet Viljoen. Another notable figure in Sizekhaya is ANC-linked businessman Sandile Zungu. He was nominated for the position of ANC KwaZulu-Natal chair in 2022 but decided not to contest after speaking to ANC leaders. Zungu, like Tembe, accompanied Mashatile to France in May this year. The delegate list records Tembe as representing his Bellamont Investments and Zungu his Zungu Investments. It was a visit that later drew media scrutiny over Mashatile's travel expenses and the company the deputy president kept. The delegation included a businessman under scrutiny by Johannesburg Water, an amaBhungane investigation has found. Sizekhaya said Tembe and Zungu attended the investment conference 'at the formal invitation of the South African ambassador to France, Mr Nathi Mthethwa' and that they were 'present as part of a longstanding national effort to promote foreign investment'. Sizekhaya did not respond directly to a question about Mashatile's alleged stay at Tembe's house before the ANC manifesto launch, but said Tembe 'has hosted and interacted with trade unionists, religious figures and political leaders across the spectrum, including the ANC, IFP, DA, EFF, MK Party – and yes, Deputy President Paul Mashatile'. Regarding a picture that shows Tembe and Mashatile together at St Paul's Anglican Church in Durban where the party honoured party faithful killed in a bus crash after the launch, it said Tembe had been invited by the presiding minister, his cousin Reverend Thami Tembe. 'This was a private family engagement of spiritual significance, and it would be inaccurate to attribute any political motive to it.' 'Never concealed' Sizekhaya dismissed any suggestion that the company's successful bid was tainted by political connections. 'This is a defamatory inference that maligns not only Mr Tembe's business integrity but also undermines the credibility of the regulatory and adjudication systems of the Republic of South Africa.' Sizekhaya also said Tembe 'has never concealed his association' with the deputy president: 'Given Mr Mashatile's public role as the country's second citizen and the scrutiny which accompanies it, it would be entirely illogical – if not impossible – to obscure any such association.' READ | amaBhungane: Who went to Paris with Paul? Tenderpreneur joined Mashatile's France-SA business trip The Lotteries Act provides that 'no political party in the Republic or political office-bearer [must have] any direct financial interest in the applicant or a shareholder of the applicant' for a lottery licence. Sizekhaya said it had fully complied with the Act: 'No arrangements exist that confer a direct or indirect financial benefit to any political entity.' Bogatsu, it said, 'is not a political office bearer and is fully entitled to pursue any legitimate commercial interest'. Controversy The awarding of the fourth lottery licence has garnered significant public attention, which has also focused on the apparent political ties of other bidders. Political parties BOSA and the EFF have been outspoken on the issue. BOSA submitted a Promotion of Access to Information Act application last October to access the identities of the people tasked with adjudicating the tender amid concerns of conflicts of interest. 'At R180 billion, the contract to operate the national lottery is the country's largest tender. Given the amount of money involved, the process followed requires a high duty of care to ensure no malfeasance or wrongdoing by any party involved,' BOSA deputy leader Nobuntu Hlazo-Webster said in a statement. The EFF last year raised red flags including over the involvement of Tembe and Zungu in Sizekhaya. 'The minister's refusal to answer direct questions… raises serious concerns about the legitimacy and lawfulness of the process,' spokesperson Sinawo Thambo said. The process of the award has not been without struggle, having been plagued by delays and court challenges. In December last year, Tau said he had identified 'matters that require further evaluation' and postponed his decision. He cited the need to ensure that the licensee's owners and managers were fit and proper persons. 'In addition, I must ensure that no political party or political office-bearer has any direct financial interest in the applicant or a shareholder of the applicant,' he said.
Hamilton Spectator
27 minutes ago
- Hamilton Spectator
Chipotle opening two Burlington restaurants, including one this coming week
Chipotle Mexican Grill is opening two new restaurants in Burlington. The first local location of the California-based company is scheduled to open Wednesday, June 25 at Burlington Centre mall ( 777 Guelph Line ). Cornerstone Centre owner Krpan Group confirmed another Chipotle is preparing to open at the 2500 Appleby Line plaza, but the opening date was not available by deadline. A location of the Canadian company Rosie's Burgers recently opened at Cornerstone Centre. A RioCan spokesperson said the Burlington Centre Chipotle will be on the Guelph Line side of the mall, near Five Guys Burgers & Fries. Chipotle spokesperson Mohit Patel said the first location is hiring staff. 'There are 30 jobs per location on average,' Patel said. Patel said the positions include several benefits such as: tuition reimbursement, retirement savings matching, access to mental health care and bonuses for staff who refer other employees. More details on job openings and how to apply are available on the company's careers website . According to a press release, the first 50 customers at the Burlington Centre location on June 25 will receive a complimentary Chipotle T-shirt. The press release states the restaurant is scheduled to open seven days a week from 10:45 a.m. to 10 p.m. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
New York Post
3 hours ago
- New York Post
News Corp extends CEO Robert Thomson's contract through 2030
News Corp will extend the contract of chief executive Robert Thomson through 2030, the media giant said Sunday. Thomson was appointed CEO of News Corp — whose properties include The Post, Dow Jones, the Wall Street Journal and book publisher HarperCollins — in 2013. His contract was extended in 2023 until 2027. He has delivered News Corp's four most profitable years from fiscal 2021 to 2024, with continued strong performance in fiscal 2025 despite a challenging media landscape, the company said. 3 News Corp CEO Robert Thomson had his contract extended through 2030. Bloomberg via Getty Images 'Robert has been instrumental in News Corp's growth and transformation, and his vision and leadership are extremely important as the company continues to navigate this era of rapid change,' News Corp Chair Lachlan Murdoch said in a statement. Thomson has been at the helm of the New York-based company through several major deals, such as the sale of its Australian cable-TV unit Foxtel to British-owned sports network DAZN for $2.19 billion in 2024. 3 New York-based News Corp is the parent company of The Post. Robert Miller 3 News Corp's properties include The Post, Dow Jones, the Wall Street Journal and book publisher HarperCollins. Bloomberg via Getty Images News Corp also signed landmark agreements with major technology platforms, including most recently with OpenAI, to license the company's intellectual property in exchange for meaningful compensation. 'Rupert and Lachlan Murdoch have adroitly sculpted a company that is passionate and principled and purposeful, and it is a profound privilege to serve as Chief Executive,' Thomson said in a statement. 'For journalists, for authors, for society, for those who strive and aspire, these are times of immense challenge and boundless opportunity. Our leadership team is acutely conscious of an unwavering responsibility to our shareholders, and we are grateful for the sterling efforts of all our colleagues as we pursue profitability and seek to realize our vast potential.'
