Tag: State Capture

Read our exclusive cover story titled The price of populism? - the rule of law, economic freedom & social progress by Martin van Staden, Head of Policy, Free Market Foundation, plus a host of other topical management articles written by professionals, consultants and academics.

South Africa is continuously suffering from the effects of corruption and drainage of resources, some of which were highlighted in the state capture saga. Optimistically, significant changes have occurred in the public and private spheres to ensure that the industrial-scale corruption perpetrated does not continue to repeat itself. One such change is the recent signing of the Judicial Matters Amendment Bill into law by President Cyril Ramaphosa on 3 April 2024.

The 2024 Budget was tabled to Parliament on 21 February 2024 by South African Finance Minister Enoch Godongwana. Tax Pocket Guide Honourable Speaker, Nosiviwe Mapisa-Nqakula His Excellency,...

Minister of Finance Enoch Godongwana will deliver the 2024 Budget Review to Parliament next week as the South African economy faces a gloomy economic outlook. The economy is still recovering from the impact of COVID-19 and state capture.

In February this year, South Africa was greylisted by the Paris-based Financial Action Task Force (FATF) because of its failure to comply with its standards and measures to combat illicit financial flows, terrorist funding and potential threats to the integrity of the global financial system. This step is the consequence of the endemic corruption, generally referred to as “state capture” which has long prevailed in the country.

Every society is built around the rule of law and adherence to that law. However, the custodians of the law (police and lawmakers) can't be present in every instance where there is a breach of legal and ethical behaviour. Citizens must be equally invested in being law-abiding citizens and exposing instances where questionable behaviour occurs.

A multidisciplinary analysis of how state capture unfolded in South Africa and was contested within both civil society and the state itself. It presents a scholarly and empirical understanding of how things went awry, even with various regulating bodies in place, and how to prevent state capture from happening again in the future.

400 days of hearings. Over 300 witnesses called. 3,171 summonses issued. Transcripts running to 75,069 pages. 1,731,106 pages of documentary evidence submitted in public hearings. 8,655,530 pages printed for public hearings purposes.

With South Africa being added to the Financial Action Task Force's (FATF) grey list, we do not believe markets will continue to react over negatively due to the greylisting, especially since a lot of this unwelcome news has already been priced in by markets.

South Africa is in the eye of a slow-building economic storm: junk status, political upheaval, civil unrest, spiralling unemployment, state capture and the fallout from COVID-19. There is no better time to assess the impact of one of the biggest economic experiments in Africa that began a quarter of a century ago: black economic empowerment, or BEE, the legislation-backed effort to transfer wealth to black people and to facilitate their broader participation in the economy to redress the inequalities created by apartheid.