Property Scam and Corruption Cases

SA remained in ninth place in sub-Saharan Africa, suggesting that perceptions of corruption in the country remained high.

Corruption scandals widen in South Africa

From KPMG, Nkandhla, VBS Mutual Bank, Gupta, Steinhoff to Bosasa, South Africa has seen endured large scale bribery, fraud and corruption scandals over the past years.

Public Investment Corporation (PIC), says construction firms recently fined R1.46-billion for colluding to fix tenders for soccer stadiums, roads and other major projects, should claw back bonuses from the crooked executives who fixed the projects.

Public Investment Corporation (PIC) decries building collusion

Public Investment Corporation (PIC), says construction firms recently fined R1.46-billion for colluding to fix tenders for soccer stadiums, roads and other major projects, should claw back bonuses from the crooked executives who fixed the projects.

The commission has reached a settlement with 15 firms. Economic development minister Ebrahim Patel says the three firms that haven’t settled — Group Five, Construction ID and Power Construction — can still do so.

Group Five out on a limb

Government is satisfied that it has broken the back of a longstanding cartel in the construction industry. It is the first time the competition commission has targeted an entire sector, and the settlement amount — R1,46bn — is the largest it has ever administered.

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