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The Citizen
2 days ago
- Business
- The Citizen
SCA overturns Nulane accused's acquittal and orders a retrial
The Nulane scam case was one of two matters in which the state tried and failed to seek the extradition of Atul and Rajesh Gupta from the UAE. Limakatso Moorosi, Seipati Dlamini, Iqbal Sharma, Ronica Ragavan and Dinesh Patel appear at the Bloemfontein High Court on 23 January 2023. Picture: Gallo Images/Volksblad/Mlungisi Louw The Supreme Court of Appeal (SCA) has overturned Bloemfontein Judge Nompumelelo Gusha's decision to summarily acquit all the accused in the R24.9 million Nulane Investments fraud, money laundering and corruption scam, saying she committed 'numerous errors of law'. SCA Judge Cagney John Musi handed down judgment on Thursday, saying the leave to appeal has been granted. 'It is ordered that the respondents may be retried for the same offences in respect of which they were acquitted by the Free State High Court on 21 April 2023, as if they had not previously been arraigned, tried and acquitted: provided that a different Judge shall preside over the trial'. Nulane scam The Nulane scam case was one of two matters in which the state tried and failed to seek the extradition of Atul and Rajesh Gupta from the United Arab Emirates (UAE). The case is based on allegations that R24.9 million was paid to Nulane Investment – a company owned by Sharma – to conduct a feasibility study for the Free State province's flagship Mohoma Mobung project, which paved the way for the controversial Estina/Vrede dairy project. Nulane was contracted by the provincial government on the basis that it had unique skills to perform the work. The state alleged that Nulane, however, had no employees on its books and in fact subcontracted Deloitte to produce the report, for which Deloitte was paid R1.5 million. It's alleged that the only change made to the Deloitte report was to identify Paras Dairy as a suitable implementing partner for the development of a milk processing plant in Vrede. ALSO READ: SCA asked to dismiss state's appeal on Nulane case amid questions about witness's testimony Acquittal In April 2023, seven of the eight accused, including former Free State government officials Peter Thabethe and Seipati Dhlamini, along with Nulane Investments director and Gupta associate Iqbal Sharma, successfully applied to be discharged under section 174 of the Criminal Procedure Act (CPA) in the Free State High Court in Bloemfontein. High Court Acting Judge Nompumelelo Gusha also found former head of the Free State Department of Agriculture and Rural Development, Limakatso Moorosi, not guilty, and she was acquitted. Gusha, in her judgment, criticised the state's investigation and concluded that the testimony of the state's sole witness, Shadrack Cezula, who had been the acting supply chain manager at the Free State Department of Agriculture, was 'evasive'. She concluded that the state had failed to prove its case against the accused before the court. 'Errors of law' However, the National Prosecuting Authority (NPA) appealed the matter. The NPA's Investigating Directorate Against Corruption (IDAC) maintained that Gusha erred on several key legal questions, which the SCA on Thursday concurred with. 'The High Court made numerous errors of law that resulted in the acquittal of the respondents. This is unfortunate, particularly in a case such as this, where it was prima facie established that scarce public funds were unlawfully extracted from the Department and channelled to the UAE, by fraud and the misuse of power. 'This subverted the aims of the Project to generate income through farming and alleviate poverty, undermines the functionality of democratic institutions, and endangers the rule of law. The trial in the High Court can be summed up in a single sentence: This was a failure of justice. Regrettably, this erodes public confidence in the criminal justice system.' Musi ruled. ALSO READ: Court hears how nearly R1 million was spent fixing welding at Estina Dairy Farm NPA welcomes judgment The NPA welcomed the SCA ruling, saying the judgment paves the way for IDAC to reinstate the case within a reasonable period. NPA spokesperson Mthunzi Mhaga said the prosecution body remains resolute in its stance of effectively prosecuting and holding accountable those responsible for state capture-related corruption. 'Beyond this important case, IDAC has made significant progress in its efforts to ensure accountability for serious and complex corruption and related crimes stemming from the state capture era. 'It has enrolled 50 cases, declared 133 investigations and partnered with the Asset Forfeiture Unit to obtain freezing and preservation orders amounting to R14.3 billion with R8.2 billion in confiscation orders deposited to the Criminal Asset Recovery Account (CARA),' Mhaga said. Mhaga said convictions in complex corruption cases take time, and not just in South Africa. 'The NPA is making steady and important progress in this endeavour and will continue to execute its mandate without fear, favour or prejudice'. ALSO READ: NPA says it will reinstate Estina dairy farm case after it was struck off court roll
The Citizen
06-06-2025
- Business
- The Citizen
Pick n Pay CEO receives the highest salary in retail. Here's how much others get
The lowest-paid CEO in grocery retail is Marek Masojada, CEO of Boxer, with R5.6 million, while the highest-paid is Sean Summers (pictured), CEO of Pick n Pay, with R24.9 million. At the top of the corporate ladder, the CEO stands as the face of pressure and power, a single person trusted with steering a company through stormy seas of inflation, consumer hesitancy and relentless competition. Those at the helm of retail companies are paid handsomely due to several factors, including qualifications, experience and responsibilities. These are the people whose vision keeps customers walking through the doors despite the crushing cost of living. The lowest-paid CEO in grocery retail is Marek Masojada, CEO of Boxer, with R5.6 million, while the highest-paid is Sean Summers, CEO of Pick n Pay, with R24.9 million. How do grocery retailers pay? Those who are on the sales floors, in the stockrooms and behind the registers receive significantly less pay despite them being the people who grind through the chaos, carry out plans and turn PowerPoint strategies into tangible success. Is it truly fair that those who ensure the vision comes to life earn a fraction of what the visionary earns? The Companies Amendment Act, signed into law in July 2024, requires public and state-owned companies to disclose the earnings of their top and lowest employees. The Citizen attempted, with no success, to obtain the breakdown of how much the lowest-paid employee in each of six prominent grocery retailers in South Africa earns, as well as their positions. Enquiries were sent out earlier in the week. ALSO READ: Is Boxer taking over, or is trouble brewing? Lowest-paid CEO in grocery retail According to Boxer's financial results for the 53 weeks ended March 2025, its CEO, Marek Masojada, received a basic salary of R5.6 million. His total remuneration was R18.5 million. The total remuneration includes basic salary, retirement and medical contributions of R1.1 million, benefits of R300 000 and a short-term performance bonus of R11.5 million. The financial results outlined that Boxer has a total of 31 906 employees. The retailer spends nearly R3.1 billion paying these employees, representing a 19.1% increase from the R2.5 billion spent in the previous financial year. ALSO READ: Pick n Pay turnaround taking shape as it delivers on first year of recovery plan Highest paid with no benefits According to Pick n Pay's financial results for the 53 weeks ended 2 March 2025, the man responsible for restoring the retailer's glory, Sean Summers, received a basic salary of R24.9 million. Unlike other CEOs who receive benefits, retirement contributions and medical benefits, as well as short-term performance bonuses, Summers does not receive these. However, he got a whopping R40.1 million in long-term awards. Pick n Pay said that employee costs increased by 1.1% to R6.4 billion during the period, up from R6.3 billion in the previous financial year. ALSO READ: What does the future hold for Spar? Retailer's profits nosedive R16 million for Spar CEO Spar seems to include the remuneration of executives and staff in its annual financial results, which are released towards the end of the year. However, The Citizen reached out, with no success, to the retailer to get the figures for 2025. According to the retailer's annual financial statements for the financial year 2024, released on 28 November 2024, Spar's CEO, Angelo Swartz, got paid a basic salary of R9.5 million. During the period, he received a performance-related bonus of R4.3 million, retirement funding contributions of R1.1 million, and allowances and other benefits totalling R1 million, costing the retailer R16 million in remuneration. ALSO READ: How Shoprite made R20 million profit per day Shoprite and Checkers led by one man Shoprite and Checkers are led by one man under Shoprite Holdings. The Citizen was unable to get the remuneration report of the group for 2025. According to the financial statement for 2024, the group's CEO, Pieter Engelbrecht, received a salary of R18 million. Apart from the salary, he received retirement and medical benefits of R500 000, benefits worth R919 000, a short-term performance bonus worth R17 million and a long-term incentive bonus worth R14.3 million, making his total cost to the company of R52 million. ALSO READ: Is Woolworths in trouble? CEO said financial performance 'disappointing' Woolies CEO Woolworths' annual results for the year ended June 2024 show that the total remuneration for its CEO, Roy Bagattini, in 2024 was R65.29 million. The breakdown of his remuneration package includes the base salary of R19.39 million and benefits worth R2.5 million. Additionally, he received both short-term and long-term incentives. NOW READ: Capitec CEO tops banking pay charts — but how do staff salaries compare? A look at how SA's top five banks pay
