Latest news with #PFMA
Business Recorder
4 days ago
- Business
- Business Recorder
TDAP officials meet PFMA delegation
LAHORE: Chief Executive of the Trade Development Authority of Pakistan (TDAP), Faiz Ahmad, met with a high-level delegation of the Pakistan Footwear Manufacturers Association (PFMA) at the TDAP Office in Lahore to discuss key issues and opportunities in the country's footwear export sector. The PFMA delegation included Hassan Javed, CEO Service Global Footwear and Pakistan's largest footwear exporter, along with Abid Hafeez, Senior Vice Chairman PFMA. The delegation expressed appreciation to the Chief Executive for taking personal interest in the issues relating to the Pakistani footwear industry. The delegation highlighted the sector's untapped potential, especially in light of China's anticipated relocation of its footwear industry to the region. They stressed the need for Pakistan to act swiftly to attract this investment shift and position itself as a regional manufacturing hub. The PFMA team lauded Faiz Ahmad's comprehensive understanding of the sector's issues and his forward-looking approach. In response, the Chief Executive assured the delegation of TDAP's unwavering commitment to supporting the footwear industry. He pledged that TDAP would take up the rebate issue with relevant authorities, initiate generous R&D and workforce training grants, and explore mechanisms to ease the financial strain of security for foreign. personnel. The meeting concluded on a positive note with a mutual resolve to strengthen collaboration for the sustained development of Pakistan's footwear exports. Copyright Business Recorder, 2025
TimesLIVE
20-06-2025
- Business
- TimesLIVE
Chief investment and development officer of the Gauteng Partnership Fund
The Gauteng Partnership Fund (GPF) is seeking a strategic, technically astute, and visionary professional to fill the role of chief investment and development officer. This executive opportunity is ideal for a leader who is passionate about shaping the future of urban development and infrastructure investment in Gauteng. As a key member of the executive management team, the chief investment and development officer will lead GPF's efforts to unlock inclusive, impactful, and sustainable development projects in line with provincial and national priorities. This is a five-year fixed-term contract position based in Johannesburg. 1. Job purpose The chief investment and development officer will provide strategic leadership and expert guidance in planning, structuring, and delivering GPF's investment and development portfolio. The role is accountable for overseeing capital raising and capital mobilisation strategies, ensuring project bankability, operational readiness, and funding alignment with provincial and national objectives. 2. Key performance areas Investment structuring and capital mobilisation: Secure co-investment through blended finance models, special-purpose vehicles, and strategic partnerships with development finance institutions, banks, and private sector players. Capital raising: Develop and execute capital raising strategies including roadshows, investor engagement, and regulatory due diligence. Project development and implementation: Oversee the entire project life cycle from feasibility, procurement, and construction to handover. Property and asset management: Manage leases, acquisitions, and urban regeneration projects. Financial management and compliance: Ensure alignment with the Public Finance Management Act (PFMA), budgeting protocols, and effective cost control. People and performance leadership: Build and lead a high-performing team, fostering talent development, equity, and skills growth. Risk and stakeholder management: Lead risk mitigation, intergovernmental co-ordination, and public-private collaboration. 3. Minimum job requirements Education and certification Bachelor's degree in finance, engineering, the built environment, or project management. Professional registration and good standing with a recognised statutory or professional body (for instance, the Engineering Council of SA, South African Council for the Project and Construction Management Professions, or similar). FAIS RE1 certification preferred — demonstrating readiness to operate as a key individual in the financial services regulatory environment. A master's degree or MBA will be an added advantage. Experience Ten to 15 years' experience in investment and development. Seven to eight years in a senior/executive role such as chief investment and development officer or chief investment officer. Experience in urban development, financial structuring, public-private partnerships, and large-scale project implementation. Proven track record of managing projects in public and private sector partnerships. Technical competencies Advanced understanding of PFMA, capital markets, environmental, social, and governance (ESG), infrastructure packaging, and feasibility modelling. Strong leadership, stakeholder engagement, risk management, and financial structuring capabilities. Application instructions Applications must be submitted via the DirectHire platform only. No emailed or hand-delivered applications will be considered. The closing date for applications is July 4 2025. Preference will be given to:
Express Tribune
20-06-2025
- Business
- Express Tribune
Govt decides to abolish tax exemptions for SEZs, STZs
At high tax rates, profit margins for sellers decrease, leaving them with options to pass on the burden to consumers, compromise on the quality of products, evade taxes or find cheaper illicit goods. photo: file The Senate Standing Committee on Finance was informed on Thursday that the federal government has decided to abolish tax exemptions for Special Economic Zones (SEZs) and Special Technology Zones (STZs) in line with the IMF conditions. During a meeting chaired by Senator Saleem Mandviwalla on Thursday, Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial briefed the committee that under the IMF agreement, all tax exemptions must be phased out by 2035. He stated that going forward, no SEZ or STZ will receive any form of tax relief. "Our hands are tied," Langrial remarked, adding that tax concessions and reduced rates across various sectors are being withdrawn. The committee rejected budget proposals for the next fiscal year, including imposing a carbon levy of Rs2.50 per litre on petroleum products, removing the 10 per cent cap on the debt service surcharge for electricity consumers and introducing a levy on small vehicles. The senators termed these measures as burdensome for the public. Regarding autonomous public-sector entities, Senator Anusha Rahman raised concerns about institutions holding vast investments despite minimal staffing. She cited the example of the Evacuee Trust Property Board (ETPB), which she said is managed by only 12 people but has Rs13 billion invested. She questioned why such institutions are allowed to retain and invest their revenues and called for reforms or exemptions in the Public Finance Management Act (PFMA) if needed. The officials replied that bodies such as Nadra, CDA, and Karachi Port Trust are allowed to invest their funds and earn profits, and they pay taxes on these earnings. However, the committee chairman said none of these institutions had actually paid taxes recently. The officials briefed the committee that Nadra had paid a tax amounting to Rs8 billion during the last two years. The FBR chief proposed amendments to the PFMA, but the committee opposed them, insisting that revenue from all government-owned bodies must be deposited into the Federal Consolidated Fund. The Ministry of Finance stated that the proposed amendment would allow autonomous bodies to retain and spend their income independently, but Anusha Rahman strongly opposed it, demanding that such entities remain accountable to the national treasury and sought balance sheets of such institutions. The committee also reviewed proposed changes to property taxation. According to FBR officials, the withholding tax on property sales valued at Rs100 million has been increased from 8 per cent to 9.5 per cent, while properties worth less than Rs100 million will be taxed at 8.5 per cent. For properties valued below Rs50 million, the rate will be 7.5 per cent. Additionally, the Finance Bill 2025 includes stricter measures against non-filers. While the property purchase tax for non-filers has been reduced, the burden has shifted to sellers. The committee approved a proposal to impose a 5 per cent tax on foreign online platforms.
The Citizen
17-06-2025
- Business
- The Citizen
Pule Mabe unhappy with delays, but won't seek to have charges dropped in R27m corruption case
The ANC member won't be making representations to the National Prosecuting Authority (NPA). Former African National Congress (ANC) spokesperson Pule Mabe has opted not to apply for his charges to be dropped, as the R27 million fraud and corruption case was postponed. The couple, along with his wife Mmatlhekelo Elsie Mabe and business associate Tinyiko Mahuntsi, appeared at the Palm Ridge Specialised Commercial Crime Court in Johannesburg on Tuesday. They face charges alongside four former senior officials from the Gauteng Department of Agriculture and Rural Development: ex-heads of department Thandeka Mbassa and Matilda Gasela; former chief financial officer Abdullah Mohamed Ismail; and former chief director Loyiso Mkwana. All the accused are facing counts of fraud, theft, and contraventions of the Public Finance Management Act (PFMA) and the Prevention of Organised Crime Act (POCA). Each was granted bail of R30 000 in October last year. More documents handed over to defence The matter had previously been postponed in March to allow the defence more time to review the docket, which contains 3 580 pages, before setting a pre-trial date. On Tuesday, state prosecutor Magdaline Montwedi-Mclean confirmed that all the requested documents had been provided to the defence – except for the final charge sheet. 'The state has since furnished all the accused with the charge sheet that was furnished with the copies of the docket. That was the state's first draft of the charge sheet. ALSO READ: NPA confident of successful prosecution as Pule Mabe's R27m corruption case postponed 'The state is still in the process of finalising the charge sheet and would like to give this charge sheet to the legal representatives before the next date, which we have arranged,' she said. The prosecutor requested the court to grant another postponement to finalise this process. Pule Mabe won't apply to have corruption and fraud charges dropped Mabe's lawyer, Advocate Zola Majavu, confirmed in court that his clients have no intention of making representations to the National Prosecuting Authority (NPA). 'On the previous occasion, having been privy to the docket, I, on behalf of my clients, filed a request for further particulars, which has since been responded to over the weekend. 'We are now in possession of the response. We do not intend on bringing any interlocutory applications, neither do we intend on making any representations,' he said. A representation is a formal request made to the NPA by an accused person challenging the decision to prosecute, and if successful, it can result in the withdrawal of charges. READ MORE: 'Who is supposed to take care of her?': Pule Mabe asks why it's a crime to give wife money Majavu further requested that the final charge sheet be delivered to the defence at least a week before the next court appearance. 'It may have an intended consequence of an unnecessary postponement, which is coming at a great cost to our respective clients.' The state confirmed that the final charge sheet would be provided by 30 June. The matter has been postponed to 7 July for a trial date to be set. Pule Mabe frustrated with delays Addressing the media outside court flanked by Mabe, Majavu emphasised that he was prepared to move forward with the trial, attributing the latest postponement to 'gaps' and ''inconsistencies' in the docket. 'There are obvious errors, and this is why today you had the state say they are asking for a postponement to amend the charge sheet or to give us some other version.' He highlighted that his clients were frustrated by what he described as 'unnecessary delays'. 'That is the frustrating part, because every time I come to court, my services don't come cheap. READ MORE: 'Political gaslighting': Will Lesufi really fire corrupt officials? 'There's emotional trauma that my clients are subjected to, whether they'll be found guilty or not guilty, we need to get going,' Majavu said. 'He says he's ready to go to trial, so bring it on. Let's go to trial and test all these allegations and let the courts decide. He's not very happy, but he doesn't locate himself above the law. 'It's not a nice thing to be subjected to court processes with your wife. The toll it is taking on them is unbearable, but that is how the legal cookie crumbles.' Corruption and fraud allegations The charges against Mabe and his co-accused stem from allegations of corruption, fraud, and theft linked to a R27 million tender. The contract was awarded to Mabe's company, Enviro-Mobi, by the Gauteng Agriculture and Rural Development Department in 2017. The tender was meant to supply 200 three-wheeler vehicles for waste pickers employed by the City of Ekurhuleni. According to the state, Enviro-Mobi lacked the necessary expertise when it was awarded the tender. Only four of the 196 tuk-tuks, most of which allegedly had 'mechanical difficulties', were not delivered to the department. NOW READ: 'Nothing I can do about it,' Judge tells Magashule as Free State asbestos trial postponed again
Daily Maverick
10-06-2025
- Health
- Daily Maverick
Former North West health officials in the dock over R86m corruption allegations
A corruption case dating back to 2007 involving R86m for hospital upgrades in the North West Health Department has finally reached court — one of several corruption cases before the court that involve the provincial government. In 2007, the North West Health Department set aside R86-million for service providers to supply medical equipment for two new hospitals in Vryburg and Ledig. The case was finally brought to court earlier this year, and the accused made a brief appearance in the Molopo Magistrates' Court on Friday, 6 June. The case involves seven accused, facing charges of fraud, corruption, and contravention of the Public Finance Management Act (PFMA). The seven are: Lydia Keneliwe Sebego, former head of the North West Department of Health; Dr Andrew Lekalakala, also a former head of department; Vuyo Sipho Wesley Mbulawa, former chief director; Kabelo Elliot Andrew Motene, department director; Ntabeleng Florence Matlapeng, deputy director; Joseph Mojoji Leshaba, director of the company Raliform Investment Holdings; and Roulgh Lotwane Mabe, director of the company MR Property. Sebego faces two counts of contravention of PFMA and one of corruption. Dr Lekalakala faces three counts of contravention of PFMA and one corruption charge. Mbulawa is charged with six counts of fraud, while Mabe faces seven counts of fraud. Motene faces four counts of fraud, while Matlapeng faces one count of fraud. They were arrested by the Directorate for Priority Crime Investigation (Hawks) at Mahikeng on 26 March 2025, and released the same day on R2,000 bail each. Appearing in court on Friday, the case was postponed to 25 August 2025 to allow counsel to consult with their clients and prepare for arguments. According to Sivenathi Gunya, the North West National Prosecuting Authority spokesperson, it is alleged that in 2007, Sebego, as head of department, signed service-level agreements with two companies run by Mabe and Leshaba. These contracts, Gunya added, were for the supply and maintenance of medical equipment for the new hospitals. 'However, investigations revealed that the service providers only partially fulfilled their contractual obligations. Although some equipment was reportedly purchased and some maintenance carried out, the companies allegedly submitted fraudulent invoices for undelivered equipment and services that were never rendered. These invoices were paid by the department,' he said. As a result, the state contends that senior officials from the department acted in common purpose to approve these payments, despite the services not being fully delivered, resulting in a financial loss of more than R86-million. It is also alleged that the department's supply chain policies and bidding processes were disregarded during the appointment of the service providers. Corruption plagues North West This is not the first time that funds meant to boost community services have allegedly been misappropriated in the North West Health Department. Dr Lekalakala, one of the seven accused in the R86-million fraud and corruption case, is also charged in a Gupta-linked fraud case, where it is alleged that Lekalakala approved payments of R30-million to Mediosa before it rendered any services. Daily Maverick reported in May 2022 on the disastrous repercussions of the saga throughout the province, with rural residents bearing the brunt – including waiting for up to eight hours for an ambulance, drug shortages, high travel costs and walking vast distances to clinics. The second hospital-related fraud and corruption investigation involves the R470-million project for the Brits District Hospital. Obakeng Eden Mongale, the former head of the North West public works department and current head of the province's health department, appeared in the Mahikeng Magistrates' Court on Thursday, 2 November 2023, in connection with the alleged irregular awarding of a tender worth R470-million to build Brits Hospital in 2008. He was released on R50,000 bail and ordered to surrender his passport and not to interfere with State witnesses. He is charged with contravening the Public Finance Management Act (PFMA). It is alleged that in 2008, he awarded a R470-million tender to Ilima Projects and Tsoga Developers to build Brits Hospital. Lieutenant-Colonel Tinyiko Mathebula, North West Hawks spokesperson, confirmed to Daily Maverick on Tuesday that both cases are before court. A third matter before court is that the Zondo commission found that an SA Express contract involving R400-million was riddled with procurement irregularities, and money was paid for services not rendered. Also, in November 2024, Thabang Mahlakoleng, former head of the North West Department of Community Safety and Transport Management, was sentenced to two years in prison or a fine of R200,000 for his role in the alleged R400-million tender fraud involving SA Express. This trial has been scheduled for 21-25 July. Hospital projects thwarted The Hawks' probe into the R86-million fraud and corruption case reveals that in 2007, the North West Department of Health initiated a project to build hospitals in Vryburg and Ledig. Sebego, the then Head of Department (HoD), allegedly appointed and signed service-level agreements with two service providers: MR Property and Raliform Investment Holdings. The service providers were appointed to furnish medical equipment to the two hospitals. However the Hawks probe revealed that Sebego allegedly flouted procurement prescripts when entering into service-level agreements with the service providers. The project was rejuvenated in August 2015 and November 2016. The department entered into a new contract with the service providers for the maintenance of medical equipment. According to the Hawks spokesperson Mathebula, Dr Lekalakala, as the new HoD, reportedly signed the service-level agreements. 'Dr Lekalakala and Sebego allegedly received gratification when the department entered into a contract with the service providers. It is alleged that the service providers claimed for services that were never rendered,' he said. The investigation, Mathebula said, also found that Vuyo Mbulawa acknowledged receipt of the ordered equipment when there had been no delivery. 'It was further revealed that Motene and Matlapeng authorised payments to service providers for services that were never rendered. These included logistical costs and exchange rate costs. As a result, the department has reportedly suffered a loss of over R86-million,' he said. The acting North West Hawks head, Brigadier Silas Munzhedzi, and the Director of Public Prosecutions in North West, Dr Rachel Makhari, have welcomed the arrest and subsequent court appearance.
