All these public holidays, lovely as they may be, really do mess with my weekday clock – if something like that exists. You’ll please have to forgive my tardiness on getting the newsletter out today. I was convinced, and would have sworn on the good book that it was somehow Wednesday.
I attended a press conference this morning hosted by the Organisation Undoing Tax Abuse – OUTA. The National Energy Regulator of South Africa (NERSA) finds itself in their sights. You can read what their review application, filed at the Pretoria High Court on Tuesday, is all about here. When over R200bn over 20 years is on the line for taxpayers, you want decisions being scrutinised very closely.
In a nutshell, OUTA wants the regulator’s decision to grant power generation licences to Karpowership SA reviewed and cast asunder for failing to pass muster in terms of rationality and transparency. All the information, claims OUTA, wasn’t before NERSA (or the public) when making a determination. Also, “significant portions of the licence applications [were] redacted”.
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I don’t know about you, but there are very few instances where I find it acceptable to have information purposely hidden from public scrutiny. I don’t like that one bit.
More for you to read today:
- An American Consulting Firm Became a Power Broker, and Then a Pariah, in South Africa. A new judicial inquiry found that corruption at South Africa’s tax agency was because of “collusion” between Bain & Company and South Africa’s former president.
- Archegos Founder Bill Hwang, Former CFO Charged With Securities Fraud. Archegos Capital Management founder Bill Hwang and former chief financial officer Patrick Halligan have been indicted on charges of securities fraud, wire fraud and racketeering, federal prosecutors in Manhattan said.
- Cricket SA vs Graeme Smith: Full text of arbitration award – DOCUMENTS | Politicsweb. Mr Smith’s actions were not proved to constitute unfair racial discrimination against Mr Tsolekile.
- Amazon’s Growth Expected to Slow, Dragged by Higher Costs, E-Commerce Slump. The tech giant, which soared from pandemic buying, is facing decelerating sales and cost increases from labor, inflation and supply-chain issues.
* For those community members who are interested, the Global Portfolio webinar will be taking place on Tuesday, 3 May at midday. For anyone looking to register, please follow this link: https://attendee.gotowebinar.com/register/3720314562820776973
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