# The Competition Tribunal’s senior legal counsel Tembeka Ngcukaitobi outlined five key strategies allegedly used by banks to manipulate the rand. These include coordinating trades, withholding or reversing trades, influencing the 4 pm currency fix, placing fake bids, and sharing sensitive market information. Ngcukaitobi argued these actions breached the Competition Act, amounting to market division and […]
# ActionSA leader Herman Mashaba described the death of the four-year-old Eldorado Park girl, Nikita, allegedly abused by her father, as a stark example of South Africa’s gender-based violence crisis. Both parents abandoned bail yesterday. Speaking at the funeral in Johannesburg, Mashaba warned that without ethical leadership and urgent action, the country risks losing more […]
# The Competition Commission’s legal representative, Tembeka Ngcukaitobi, has outlined eight key topics for the ongoing rand manipulation case. The case continues to examine alleged collusion by 13 banks in the US dollar – South African rand exchange rate between 2007 and 2013. Ngcukaitobi says they will address eight issues, including a single overarching infringement, […]
# Solidarity will push for decisive intervention after the mining group Assmang issued a notice regarding the possible closure of its Beeshoek iron ore mine near Postmasburg in the Northern Cape. The mine’s sole major client, ArcelorMittal SA, is under severe financial pressure. Solidarity says it will participate during retrenchment consultations as 688 permanent jobs […]
# Six alleged members of an international rhino horn trafficking syndicate were arrested in Sunnyside, Pretoria, this morning after the five men aged 49 to 84 and a 60-year-old woman, handed themselves over to the Hawks. This follows a long investigation into transnational rhino horn trafficking since 2017. Alleged fraudulent permits targeted 964 rhino horns […]
# Future Forex has called for substantial fines on banks found guilty in the rand manipulation saga to prevent future currency rigging. The Competition Commission is appealing the Competition Appeal Court’s ruling at the Constitutional Court, against 13 banks accused of manipulating the US dollar to the South African rand exchange rate between 2007 and […]
# Co-operative Governance and Traditional Affairs minister, Velenkosini Hlabisa, is attending the 2025 Traditional Leaders Imbizo in Gauteng, hosted by the National House of Traditional and Khoi-San Leaders today. The three-day event will host 300 delegates under the theme ‘Sourcing Inspiration from the Past to Deliver a Better Future for Our People’. Kings, queens, political leaders, […]
# The Competition Commission is appealing the Competition Appeal Court’s ruling in the rand manipulation case at the Constitutional Court. The case, set for hearing from today to Friday, seeks to revive charges against 13 banks accused of rigging the US dollar to the South African Rand exchange rate between 2007 and 2013. Initially, 28 […]
# Minister of Science, Technology and Innovation, Blade Nzimande, says there is an urgent need for African-led scientific research and climate adaptation strategies. According to the 2023 World Meteorological Organisation report, African countries are losing two to five-percent of their gross domestic product to climate change, with some nations diverting up to nine-percent of their […]
