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Economic populism Focus on 2% growth distracting SA 22 OCTOBER 2018
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economy fixes JSE-listed aviation Claudi Mailovich
Reserve Bank governor Lesetja company Comair is Board chair says Gama failed to make representations on why he should not be axed Political Writer
Kganyago says it is better to widening its diversification
have unpopular central bankers strategy with the creation It is becoming increasingly diffi-
than allow runaway inflation in of a joint-venture business Genevieve Quintal that the Gupta family received cult for the auditor-general of SA
order to please populists. with global information Political Writer multibillion-rand kickbacks as to perform its work in some
Speaking at the Association of technology (IT) company part of the purchase. municipalities as staff members
Black Securities and Investment Infinea. /Page 11 Transnet has fired its embattled Gama’s removal comes after have had to face a hostage
Professionals’ conference a few CEO Siyabonga Gama and will several new board members situation and threats from
hours before a panel was due to RAC goes digging pay him out for six months. were appointed at Transnet in municipal officials and have
debate the nationalisation of beyond mining In the notice of termination of May as part of President Cyril even been shot at.
the Bank, Kganyago said SA employment letter, served on Ramaphosa’s drive to root out These are some of the
had no space for “macro- RECM & Calibre (RAC) is Gama on Sunday and seen by corruption at state-owned instances of intimidation
economic adventurism”. /Page 2 actively looking for new Business Day, board chair Popo enterprises (SOEs). auditor-general Kimi Makwetu
opportunities, as the Molefe said the CEO had failed The Transnet board told raised in a letter to parliament’s
Deadline set for investment company to make representations on why Gama in the letter that his standing committee on the
moves to further reduce he should not be fired by the last working day would be auditor-general. In the letter,
public health system its exposure to the cyclical deadline of October 15. Monday, October 22 and that he dated October 15, Makwetu
The presidency has mining and construction “As a result of your failure to was required to collect his specifically details instances of
acknowledged the crisis sectors, which weighed make representations, the board belongings and return the SOE’s intimidation at the municipalities
gripping the public health on its first-half has therefore resolved to termi- belongings, which include an of Emfuleni, Tshwane, Madibeng
system and concluded a two- performance. /Page 12 nate your appointment as group iPad, cellphone, laptop and and Moretele.
day summit at the weekend CE on six months’ notice,” access keys. Makwetu says in the letter he
with a commitment to devise a Arcelor secures Molefe says in the letter. The board reminded the believes the instances of intimi-
plan for fixing the sector’s ills by Canadian funding “You are not required to embattled CEO that despite the dation deserve national atten-
early December. /Page 3 work out your notice period and termination of his contract he tion, even though the office of
Canadian government will be paid six months’ remu- was still obliged to keep the auditor-general will still
State eyes transport funding for ArcelorMittal is neration in lieu of notice.” company information and any- work with the local and provin-
the first of a series of steps Gama was paid R8.108m thing regarding agreements he cial governments in question.
investment drive the country will take to in the 2018 financial year, had signed during his employ- “These instances not only
The department of human support the steel industry according to the latest Transnet ment confidential. pose a threat to the life and
settlements and mayors of amid a tariff fight with the annual report. Last week Gama approached limb of innocent professionals
ageing cities and towns plan US, Canada’s industry Gama has been in the line of the labour court in Johannes- employed by the AGSA [auditor-
to launch an investment minister says. /Page 12 fire after investigations found burg in a bid to stop the board general SA], but also put the
drive to get the Strategic that he, former CEO Brian from terminating his contract. broader public interest at risk,”
Integrated Projects Seven off Hong Kong real Traditional right of way: People watch a flock of sheep during the annual sheep parade through Molefe and Gupta associates The court on Friday stayed he said.
the ground. /Page 3 estate mogul dies Madrid on Sunday. Shepherds parade the sheep through the Spanish capital every year in order to may have acted unlawfully in Gama’s application and ordered The finances of municipali-
exercise their right to use traditional routes to migrate their livestock from northern Spain to winter relation to the purchase of 1,064 that the dispute between him ties, which are tasked with basic
US ‘wants total Walter Kwok, the former grazing pasture land in southern Spain. /Reuters locomotives for R54bn. Leaked
supremacy’ chair of Hong Kong real-
estate developer Sun
Gupta e-mails contain claims Continued on Page 2 Continued on Page 2
All Share Top 40 R186 R207 R / US$ R / UK£ R/€ Gold PM fix Brent Futures Dow Jones Ind FTSE 100
52,093.00 45,895.40 0 0 14.4161 18.8388 16.599 1,223.00 79.98 25,444.34 7,049.80
0.08 0.09 100.00 100.00 0.00 0.00 0.00 0.49 0.00 0.26 0.32
IG.com
Figures at 8pm SA time All bold figures are expressed as a percentage move
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