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IOL News
01-07-2025
- Health
- IOL News
Health anti-corruption forum recovers R11. 8 million and prevents R6 billion in health sector fraud
SIU spokesperson Kaizer Kganyago says the Health Sector Anti-Corruption Forum's united efforts are crucial in protecting public resources and fighting corruption in the health sector. Image: File The Health Sector Anti-Corruption Forum (HSACF) has recovered R11.8 million in cash and assets and prevented losses exceeding R6 billion, marking significant progress in its ongoing efforts to tackle fraud and maladministration in South Africa's health sector. The HSACF held its quarterly meeting on June 27, 2025, bringing together key stakeholders including law enforcement agencies, government departments, civil society, and private sector representatives to assess progress in combating corruption. The Special Investigating Unit (SIU) spokesperson Kaizer Kganyago said that the HSACF reaffirmed the importance of a collaborative 'whole-of-society' approach to combat corruption, involving civil society, the private sector, and public institutions. This aligns with the National Development Plan's vision of a corruption-free South Africa. The Directorate for Priority Crime Investigation (DPCI), also known as the Hawks, reported on the status of 106 cases. Of these, 21 are currently under investigation, two are on the court roll, and 69 await decisions from the National Prosecuting Authority (NPA). These cases involve approximately R3 billion. The SIU shared that it had prevented losses exceeding R6 billion, including R3.1 billion in actual losses and R1.6 billion in potential losses through referrals to provincial health departments. "The SIU also identified 54 fraudulent medico-legal claims and closed 97 investigations, referring cases worth R689 million to the Legal Practice Council, R279 million to the Legal Practitioners' Fidelity Fund, and R412 million to the NPA for further action," said Kganyago. Providing updates on its efforts, the NPA indicated that it had "enrolled 125 cases, finalised 83, and is pursuing 32 cases still on the court roll" stemming from SIU referrals under Proclamation 23 of 2020, which addresses COVID-19-related corruption. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading Meanwhile, the Council for Medical Schemes (CMS) revealed ongoing investigations into various medical schemes, including governance concerns at Foodmed Medical Scheme, irregularities in multivitamin schemes at GEMS and Polmed, overcharging at Optivest Health Services, and compliance breaches at Sizwe Hosmed Medical Scheme. 'The forum emphasised the need for continued vigilance, stronger preventive measures, and swift prosecution to eliminate fraud and maladministration in the health sector.' Kganyago added. The HSACF will continue to meet quarterly and remains committed to transparency, accountability, and ensuring that progress reports are communicated to relevant oversight bodies and the public. IOL News
IOL News
10-06-2025
- Business
- IOL News
Market cheers as Telkom rings in robust results
Telkom store at N1 City in Goodwood, Cape Town. Image: Ian Landsberg/Independent Newspapers The market on Tuesday cheered as Telkom rang in robust results for the year ended 31 March and resumed its dividend, which saw its share surge 7%. In morning trade the share was up 7.35% at R42.95 on the JSE. Telkom said mobile subscribers were up 13.4% to 23.2 million. Serame Taukobong, Telkom Group CEO said, 'The company has largely modernised its technology infrastructure and executed on a robust, detailed strategy across its operations. The financial results for FY2025 confirm that the business has not only stabilised but has built a platform for accelerated growth." In key financial metrics, adjusted headline earnings per share rose 102.4% to 583.2 cents; while adjusted basic earnings per share were up 128.9% to 681.7 cents. Ebitda was up 25.1% to R11.8 billion; while revenue rose 3.3% to R43.9bn; with free cash flow up 555.2% to R2.8bn. Taukobong said Telkom's differentiated strategy over the past year centred on three key pillars: The first pillar was sales engine optimisation. "We engineered our sales engine to prioritise efficiency, streamlining regional teams into agile, data-driven units and investing in digital tools to empower frontline teams." The second pillar was network excellence. "We prioritised strategic investments in our infrastructure, expanding fibre and 4G/5G coverage to underserved areas while enhancing urban network performance." The final pillar was customer-centric value. "We continued disrupting the market by expanding our flexible, affordable plans tailored to diverse segments, from data-centric bundles for cost-conscious users to seamless connectivity solutions for small, medium and large enterprises. We supported these with transparent pricing and proactive service," he said. Taukobong said in a significant milestone, Telkom had successfully concluded the disposal of Swiftnet, the masts and towers business to the consortium led by Actis and Royal Bafokeng Holdings with a total cash consideration of R6. 618bn received on March 27. "We are strategically dedicating R4 750 million of the proceeds post year end to strengthen our balance sheet. This deliberate move is aimed at fortifying the balance sheet for future growth, fuelling innovation, and ensuring we maintain a competitive edge in a dynamic market. The remaining proceeds are earmarked for profit-enhancing capital investments as well as a special distribution to shareholders," he said. Serame Taukobong, Telkom Group CEO. Image: Supplied The group reinstated its dividend, saying it will return a total dividend of R1.3bn, which includes an ordinary cash dividend of R833 million (163 cents per share) and a special dividend of R500 million (98 cents per share) from the completed disposal of the Swiftnet masts and towers business, resulting in 261 cents per share being returned to Telkom shareholders. Across its various segments, Telkom reported notable growth. Telkom Consumer saw a 10.2% increase in mobile service revenue, supported by a 19.5% rise in its mobile data subscriber base, which reached 15.2 million. Openserve recorded a 5.9% increase in fibre-related data revenue and achieved a market-leading fibre-to-the-home connectivity rate of 50.4%. BCX posted a 12.7% increase in fibre-related data revenue, along with a 5.8% growth in cloud services revenue. Gyro, Telkom's standalone infrastructure subsidiary, contributed to improved liquidity by realising total cash proceeds of R730 million from the transfer of 57 properties. Looking ahead, Telkom said its medium-term roadmap leverages its current momentum as it sets "ambitious yet achievable objectives for the next three years". Maintaining a strong balance sheet remains a top priority; a focus on efficiency as well as monetising infrastructure assets and improving medium- to long-term returns. "Essential to achieving these financial targets is continued stability in South Africa, a growing economy supported by a macro-economic environment that does not deteriorate from current levels, and a stabilised energy supply. While their impact is not yet visible, recently escalated global tensions and emerging trade wars could limit South Africa's economic growth, " Telkom said. BUSINESS REPORT Visit:
