For R46 billion you can get 184 Nkandlas – that’s two for every Cabinet member! You can get 460 000 university bursaries of R100 000!— Bruce Whitfield, The Money Show
You end up buying a pen for R20 when it should cost R1. That is [an example of] irregular expenditure.— Kimi Makwetu, Auditor General
You have R1000 to spend and you end up having to pay penalties on top of that, because your administrative environment doesn’t respond to deadlines. Or, you have a contract to build a huge project, but because of inefficiencies and lack of planning you end up paying interest and penalties. Those are the types of things that constitute fruitless and wasteful expenditure.— Kimi Makwetu, Auditor General
National and provincial government departments racked up more than R46 billion in irregular expenditure during the past financial year, according to Auditor General Kimi Makwetu's latest report.
This is an increase of 80% on the previous year’s R26 billion.
The worst offenders were the Passenger Rail Agency of South Africa, the KwaZulu-Natal and Mpumalanga health departments, as well as the Department of Water and Sanitation and Gauteng’s Road and Transport and Human Settlements departments.
These six auditees were responsible for half of the R46 billion in irregular spending.
The Money Show’s Bruce Whitfield interviewed Auditor General Kimi Makwetu.
Listen to the audio below in which the Auditor General discusses his report and exactly what is meant by "irregular expenditure" (and/or scroll down for more quotes from it).
If you don’t’ have consequences for wrongdoing; it conspires to create an environment open to abuse and looting.— Kimi Makwetu, Auditor General
When you look at some of the transactions; it looks deliberate.— Kimi Makwetu, Auditor General
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
What impact will his departure have on South Africa and the ANC? Can we fix the damage — and how do we do that?
The Money Show’s Bruce Whitfield learns more about the views of the outspoken Chair of AngloGold Ashanti.
The Money Show's Bruce Whitfield interviews Lumkile Mondi, Senior Lecturer at the Wits School of Economics and Business Science.
Tax expert Professor Mathew Lester says the current tax base cannot come to our rescue. He proposes the following solution…
"It means, without adding a cent, Government can increase its output by 30% to 40%," says Chief Procurement Officer Kenneth Brown.
"Zuma must go. When you are the president who literally laughs off any suggestions that government be held to a higher standard…"
Ray White interviews Wayne Duvenage, Chairperson at the Organisation Undoing Tax Abuse (OUTA).
Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.
How did Ngebulana build his empire? The Money Show’s Bruce Whitfield interviewed him for his weekly “ShapeShifter” feature.
Bruce Whitfield interviews one of our most beloved artists of all time about his money hopes, fears, successes, failures, etc.
Want (or need) a new car? Dale Scorer (a wealth manager at AlphaWealth) reckons you should consider leasing.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...
Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?
Patrick Soon-Shiong, son of Chinese immigrants to SA, is the world’s richest doctor and the wealthiest resident of Los Angeles.