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Daily Maverick
4 days ago
- Daily Maverick
Alleged The Firm boss Ralph Stanfield linked to murders in gang feud
The State claims that alleged 28s gang boss Ralph Stanfield is the leader of the criminal gang, The Firm, alleged to have engaged in a bloody gang war with affiliates of the 27s, including Hard Livings, Dixie Boys, Sexy Boys and Ghetto Kids. Ralph Stanfield and his alleged organised criminal group, The Firm, is accused of planning and carrying out five murders, including those of former Hard Livings gang boss Rashied Staggie, former City of Cape Town official Wendy Kloppers and 28s gang member William 'Red' Stevens, who was one of the accused in the death of 'Steroid King' Brian Wainstein. They're also accused of murdering Ismail Abrahams and Faizel Adams, who were both killed in September 2021 in Parow. advertisement Don't want to see this? Remove ads These murder counts are among 40 charges against Stanfield, his wife Nicole Johnson and 13 other accused, which build a tapestry of the gang violence that has infiltrated most of Cape Town's notorious gangland areas. The indictment and summary of substantial facts were presented before the Cape Town Magistrates' Court on Monday, 14 July 2025. Seven members were in the dock while Stanfield, his wife and others appeared via video link. According to the State's court papers, Stanfield is allegedly the leader of The Firm, which fought against 27s prison gang associates, including Hard Livings, the Dixie Boys, Sexy Boys and Ghetto Kids. The areas where the continuous gang wars took place were Kraaifontein, Woodstock, Parow, Bellville, Belhar and Eerste River. The Firm's alleged reign of terror lasted from November 2019 to November 2023. It operated in Milnerton, Wynberg, Bishop Lavis, Kraaifontein, Parow, Somerset West, Belhar, Green Point, Kuils River and Blue Downs. The State's court papers say The Firm holds 'positions of leadership and subservience' similar to the system inspired by the 28s 'but not strictly adhered to the criminal gang in its activities and operations outside prison. Ralph Stanfield is the leader of the gang.' advertisement Don't want to see this? Remove ads In addition to Stanfield and his wife, the co-accused in the case include Johannes Abrahams, Denver Booysen, Jose Brandt, Jonathan Cloete, Abraham Wilson (deceased), Shakeel Pelston, Imtyaas Sedick, Warren Lee Dennis, Michael Morris, Chevonne McNabb, Sharazaadt Essop, Brandon Cornelius and Keathan Gardiner. The charges include murder, attempted murder, conspiracy to commit murder, illegal possession of firearms and ammunition, robbery, aiding and abetting criminal activity and contributing to a pattern of criminal gang activity in terms of the Prevention of Organised Crime Act. Read more: Fraud charges against Malusi Booi, Ralph Stanfield in R1bn tender case dropped, for now Meanwhile, in May 2025, the corruption case against former City of Cape Town councillor Malusi Booi, Stanfield, Stanfield's wife Nicole Johnson and nine others was provisionally withdrawn on Friday, 23 May 2025. Booi, a former mayoral committee member, was arrested in September 2024 and faced charges relating to alleged unlawful tenders worth more than R1-billion. Premeditated murders Topping the list of charges was the murder of the infamous gang boss Staggie outside his home in the Cape Town suburb of Salt River on 13 December 2019. Staggie was sentenced to jail in 2003 after he was convicted of ordering the gang rape of a 17-year-old girl who had turned State witness against him. advertisement Don't want to see this? Remove ads He was sentenced to 15 years for kidnapping and rape. He was then released on parole in 2013. In 2004, Staggie was also found guilty of robbing a weapons storage facility in Faure on the outskirts of Cape Town. However, these two sentences were served concurrently and Staggie was released in 2013 after spending 10 years in jail. advertisement Don't want to see this? Remove ads According to the summary of substantial facts, the State claims: 'On the morning of Friday, 13 December 2019, the accused Cloete, Pelston and Essop allegedly proceeded to the deceased's homestead in order to kill him as planned. Pelston and Essop armed themselves with firearms. 'Cloete allegedly drove his Ford Bakkie, Staggie was seated in a Toyota motor vehicle outside his home. Whilst Staggie was seated in the vehicle, Pelston and Essop approached Staggie and opened fire, fatally injuring the deceased.' Staggie was a member of the 26s prison gang and leader of the Hard Livings gang in Manenberg. advertisement Don't want to see this? Remove ads Stevens, murdered on 2 February 2021, was one of the accused alongside the late Mark Liftman, the late Andre Naude, Jerome 'Donkie' Booysen and others in connection with the 2017 murder of the global steroid smuggler, Wainstein. Read more: Underworld suspect shot dead – one week before scheduled court appearance in Cape Town for murder Nearly four years later, the State claims The Firm members Cloete and Morris allegedly unlawfully and intentionally killed Stevens. According to the summary of facts: 'On the afternoon of Tuesday, 2 February 2021, the accused Cloete, Morris and others proceeded to the area of Stevens to allegedly kill him as planned. advertisement Don't want to see this? Remove ads 'Morris and a person named Siya armed themselves with firearms, drove to Rembrandt Street. The deceased was seated in the street. Siya allegedly opened fire on the deceased from the vehicle. The driver stopped and Morris and Siya allegedly alighted from the vehicle and opened fire on Stevens. While shooting Stevens, they also shot a complainant and fled the scene.' Stevens was a member of the 27s prison gang. Cloete, the leader of The Firm in Kraaifontein, resided in the same area. Stevens, along with Jerome Booysen, were charged for the murder of Wainstein, who was seen as close to Stanfield. Cloete and others are alleged to have conspired and killed Stevens as revenge for Wainstein's murder. advertisement Don't want to see this? Remove ads City official Kloppers died in a hail of bullets in February 2023 at a housing development site in Delft. At the time Cape Town mayor Geordin Hill-Lewis offered a reward of R100,000. A week before her demise, two construction workers came close to death after gunmen opened fire on them at a building site in Delft. Both men were wounded in the attack. Read more: Police hunt construction mafia killers after bullets fly at a Cape Flats building site A breakthrough came in June 2024 when a suspect handed himself over to police and was charged with murder and attempted murder. Dennis, Morris and Essop are accused of murdering Kloppers. According to the State's court papers, Kloppers was murdered after Dennis, Morris and Essop, as well as Simon Stanfield and Ernest MacLaughlin, who are both deceased, allegedly decided and planned to kill any white person at the housing development site in Delft. Stanfield and other alleged underworld figures were fighting to get their hands on the R400-million contract for the housing development. On the day of the shooting, the State claims that Dennis drove with Simon Stanfield and MacLaughlin to Delft, followed by Morris and Essop in their car. Morris is said to have proceeded to the development site and remained outside. The State further claims that Essop and another also proceeded to the development site in order to kill the white person as planned. Kloppers arrived at the housing site in her car, unaware that she was trapped and in peril. 'The driver in the motor vehicle in which Essop and another person was, stopped and alighted from the vehicle. They approached the deceased and a security guard and opened fire,' the State contends. Kloppers died as a result of multiple gunshot wounds to the chest and the security guard sustained a gunshot wound to the right wrist. The first pre-trial conference in the case is set to take place in the Western Cape High Court on 7 November 2025. DM
TimesLIVE
7 days ago
- Politics
- TimesLIVE
'South Africans tired of commissions of inquiry': parties on Ramaphosa's response to Mkhwanazi allegations
Political parties have cautiously welcomed President Cyril Ramaphosa's decision to establish a commission of inquiry to look into explosive allegations by KwaZulu-Natal police commissioner Lt-Gen Nhlanhla Mkhwanazi, saying previous inquiries yielded little results. Addressing the nation on Sunday evening, Ramaphosa announced he was placing minister of police Senzo Mchunu on special leave, and said and that Prof Firoz Cachalia would act as police minister. Ramaphosa also announced he has established a judicial commission of inquiry chaired by acting deputy chief justice Mbuyiseli Madlanga to investigate allegations relating to the infiltration of law enforcement, intelligence and associated institutions within the criminal justice system by criminal syndicates. This comes after explosive allegations levelled against Mchunu by Mkhwanazi last Sunday. Mkhwanazi accused Mchunu of interfering with police investigations and of overstepping his role when he ordered the disbandment of the political killings task team. ActionSA said it sees no logic in yet another commission of inquiry carrying out work that law enforcement and agencies like Ipid should be doing, especially while the R1bn Zondo commission report into state capture gathers dust as those who committed treason continue to evade justice. DA leader John Steenhuisen welcomed the new appointment made by Ramaphosa, but also expressed concern over the decision to establish a commission of inquiry. In an interview with Newzroom Afrika, Steenhuisen said many South Africans are sceptical about commissions of inquiry after the Zondo inquiry produced no convictions, even after people were named. He added that the public's trust might deteriorate if there is another inquiry that yields no consequences. GOOD party secretary-general Brett Herron said the appointment of a commission, while well-intentioned, is too slow, too cumbersome and too costly. 'We have walked this road before, most notably with the Zondo commission, and we have seen that a commission of inquiry cannot replace a criminal investigation. The Zondo commission produced volumes of prima facie evidence, which the investigating authorities were then required to investigate before any decision to prosecute could be made,' he said. Herron said allegations made by Mkhwanazi demand an urgent and credible criminal investigation, not another year-long process the outcomes of which might never be acted on. RISE Mzansi welcomed the establishment of a commission of inquiry. The party feels that a judicial commission of inquiry is important because the SAPS and the minister cannot investigate themselves. 'The establishment of this inquiry insulates the process from political contamination,' said Makashule Gana, RISE Mzansi National Assembly caucus whip and member of the portfolio committee on police. Meanwhile Mchunu has welcomed Ramaphosa's decision to place him on special leave, saying he fully supports the process. 'I welcome and respect the president's decision and pledge my commitment to the process. Honour and integrity are the virtues I personally subscribe to and which we all need to make efforts to uphold. I stand ready to respond to the accusations against me and account to the citizens of the republic, fully and honestly so,' Mchunu said in a statement.
IOL News
05-07-2025
- Business
- IOL News
How the Two-Pot system is affecting South African retirement funds
South Africans are increasingly withdrawing from their retirement savings due to the Two-Pot system, raising concerns about long-term financial stability and the implications for the economy. Image: File photo. The Two-Pot system, designed to offer South Africans a lifeline in the event of a serious rainy day, has seen such high demand for withdrawals that experts are concerned that people will have only two-thirds of their savings left. Changes in the law, which came into effect last September, made it possible for people who have retirement savings to access a portion of them now, with the rest remaining invested until they stop working. Under the changes to the law, one-third of retirement savings went into a pot from which withdrawals could be made, and that allows people to pull out money once a year in an amount between R2,000 and R30,000. But there are drawbacks. In addition to the fact that the cash that is taken is subject to tax, any amount due to the South African Revenue Service (Sars) in unpaid tax is deducted from the payout. Those are the short-term consequences – longer-term, withdrawals now will exacerbate South Africa's already low savings rate. South Africans have a negative savings rate of 1.2%, according to Trading Economics. Hwalani Mabaso, executive of everyday advice and distribution at Absa Advice and Investments, says that the tax on withdrawals 'came as a rude awakening to some who saw their expected payout significantly reduced. Financial service providers also had to play catch-up, with reports of some charging excessive admin fees. The learning curve was steep – not just for members, but for the industry itself,' she notes. Michelle Hawkins, senior tax expert at PKF Octagon, says that Sars has collected R15 billion in taxes from Two-Pot withdrawals, of which R1bn was in overdue payments. Mabaso's calculations indicate that a R30,000 withdrawal could mean R22,000 lands in accounts after withholding tax, which doesn't take into account any overdue tax. 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 One of Two-Pot's most vocal detractors is former statistician-general, Pali Lehohla. Lehohla tells Personal Finance that pulling money out of an already meager savings pool detracts from fund managers, such as the Public Investment Corporation, being able to invest in key sectors such as agriculture, manufacturing, and mining. This, Lehohla says, undermines the architecture of pension funds, adversely affecting South Africa's growth prospects. 'If you draw from it, you destroy a nation.' Gross domestic product (GDP) gained a better-than-expected 0.1% in the first quarter of the year after reaching 0.6% in 2024. Phil le Feuvre, member of the South African Reward Association, says that nearly R57bn has been withdrawn from retirement funds since last September. For context, the sector was worth about R4.6 trillion in 2022, the latest research available. Le Feuvre says there have, so far, been almost four million withdrawals, out of an estimated 18.6 million retirement fund members in South Africa. Of these, about 12% were repeat withdrawals following the start of the new tax year in March, he adds. Hawkins is concerned that there have been repeated withdrawals. 'This behaviour raised concerns that the system might be used more as a revolving credit facility than an emergency buffer,' says Mabaso. Yet, Mabaso says the 'bold and necessary reform' has benefitted those South Africans who are battling rising costs as it has been a 'financial lifeline'. She says, in addition to making emergency funds available without totally sabotaging long-term retirement savings, it has also had a macroeconomic benefit. 'Analysts estimate the system injected R40bn to R100bn of liquidity into the economy, boosting consumption and tax revenue, thanks to SARS collecting income tax on withdrawals. Some reports even suggest it could contribute up to 0.5% to GDP growth in 2025,' Mabaso says. Mabaso says, however, that the 'freedom to withdraw comes at a cost'. She explains that someone who pulls money out each year could reduce their retirement nest egg by 30% to 33%, which could be 'a potentially devastating impact in old age'. Hawkins says research conducted by various financial institutions has shown that most drawdowns are going towards debt, school fees, groceries, and other basic necessities. 'The pressures of the cost of living are the key driver for the two-pot withdrawals,' she says. 'Evidence suggests that a portion of the withdrawals is being used to pay off high-interest loans or, worse, fund consumer purchases, defeating the system's intent to promote financial resilience,' Mabaso explains. Le Feuvre adds that some beneficiaries used funds as a deposit to buy a car, leading to increased debt in the long run. 'Overall, the funds helped consumers reduce financial strain but also contributed to new credit uptake.' Mabaso says, like all policy tools, Two-Pot's success depends on how wisely it's used. She says people need educational support to understand tax, compound interest, and long-term implications. 'Handled with care, the system could offer South Africans the dignity of choice and financial resilience.' Reasons people draw draw down from two-pot. Image: Source for graphic: Le Feuvre PERSONAL FINANCE
IOL News
27-06-2025
- Business
- IOL News
Lesaka Technologies acquires Bank Zero for R1. 09 billion, boosting its fintech capabilities
Bank Zero CEO Yatin Narsai said their acquisition by Lesaka Technologies would allow the online digital bank to accelerate new revenue streams, improve capital efficiency and unlock synergies across their ecosystem. Image: AI Ron Lesaka Technologies' share price shot up 17.1% Friday morning after announcing it has entered into a R1.091 billion agreement to acquire 100% of South Africa's digital lender, Bank Zero Mutual Bank. The companies said Friday the acquisition will be settled through a combination of new shares—such that the shareholders of Bank Zero will own about 12% of Lesaka's shares at the time of completion of the proposed transaction—and up to R91 million in cash. "The acquisition of Bank Zero is a transformative event in Lesaka's journey, enabling us to better serve our consumers, merchants, and enterprise clients by embedding a trusted, well-engineered neobank capability into our fintech platform,' said Lesaka chairman Ali Mazanderani in a statement. "Our focus has always been on using technology to remove friction, lower costs, and challenge legacy banking norms. Joining forces with Lesaka allows us to accelerate that mission at scale—reaching more customers, faster. It represents a critical step for Lesaka and Bank Zero in realising new revenue streams, improving capital efficiency, and unlocking synergies across our ecosystem," said Bank Zero CEO Yatin Narsai. The 12% stake is valued at about R1bn based on the R88.26 share price. The share price was trading at R81.99 on Friday monring. The selling shareholders of Bank Zero—which include its chairman Michael Jordaan, CEO Yatin Narsai, and other key members of the bank—will collectively hold a 12% stake in Lesaka. The transaction is still subject to the regulatory approvals such as by the Prudential Authority and Competition Commission. Bank Zero, founded in 2018, is built on modern technology on an app-driven platform and a zero-fee banking model, offering retail and commercial banking services. As of the end of April 2025, Bank Zero had a deposit base in excess of R400m and more than 40 000 funded accounts across South Africa. Bank Zero's digital banking infrastructure and its operational banking licence, together with Lesaka's fintech and distribution platform, would transform the way Lesaka is able to conduct business in the future, said Mazanderani. These include better servicing of Lesaka's customers through full banking services, unlocking synergies and opportunities, accelerating innovation, and streamlining Lesaka's Consumer, Merchant, and Enterprise divisions—all enabling a shift in the financial profile of Lesaka and empowering the combined group to deliver greater value to consumers and businesses. 'Lesaka expects the transaction to support a more optimised balance sheet in the future, allowing the group to finance the existing and continued growth in lending books through customer deposits, driving stronger lending unit economics,' Lesaka said. In addition, the reduction in the use of bank debt in the group's Consumer and Merchant divisions would help to deleverage Lesaka's debt. After the deal, Lesaka could achieve a more than R1bn reduction in debt.
TimesLIVE
25-06-2025
- Business
- TimesLIVE
Nigeria and Brazil sign $1bn agreement to boost agriculture
Nigeria and Brazil signed a $1bn (R17.7bn) agreement on Tuesday to boost agriculture, food security, energy and defence in the West African nation, Nigeria's Vice-President Kashim Shettima said. The two countries aim to 'deploy more than R1bn to deliver mechanised farming equipment, training and service centres across Nigeria,' Shettima said in a statement posted on X. A lot of farming in Nigeria is subsistence and land is owned by families or individuals, which makes large-scale acquisition problematic. Nigeria also imports food for its 200-million plus population. 'We are moving from subsistence to scale in agriculture, and in energy we are taking long-overdue steps to attract serious investment into gas production, refining, and renewables,' Shettima said. The agreements were signed in Abuja during a visit by Brazil's Vice-President Geraldo Alckmin to Africa's most populous nation. Shettima told his Brazilian counterpart reforms embarked on by President Bola Tinubu have helped reshape Nigeria's economy. Nigeria is targeting a $1-trillion (R17.7-trillion) economy by 2030, with reforms to agriculture, energy, education and public finance. The country has also asked banks to recapitalise to attract foreign investments.
