Streaming issues? Report here
money-show-thumbnailjpg money-show-thumbnailjpg
The Money Show with Bruce Whitfield
18:00 - 20:00
volume_up
volume_mute

Up Next: The Aubrey Masango Show
See full line-up
The Money Show with Bruce Whitfield
18:00 - 20:00
Home
arrow_forward
Business

'Delay in signing anti-corruption Fica Bill is more damaging than a downgrade'

12 April 2017 7:35 PM
Tags:
Corruption
FICA

Power tends to corrupt. The Fica Bill addresses that. Jacob Zuma, however, says it infringes on rights of powerful people.

Power tends to corrupt.

The international financial regulatory community refers to individuals in positions of power as “politically exposed persons” (PEPs).

Treasury (the old one) introduced the Financial Intelligence Centre Bill that proposes amendments to FICA to address the position of PEPs.

The parliamentary process in respect of the Bill is complete, but President Jacob Zuma has expressed reservations about the Bill's constitutionality.

He says his objections are based on a concern that the Bill infringes on the rights of powerful people.

The Money Show’s Bruce Whitfield interviewed Intellidex MD Stuart Theobald.

Theobald gave five reasons why he believes the delay of the Fica Bill is more damaging that a credit ratings downgrade.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

We could be put on a grey-list of countries you don’t want to be on as you’ll be excluded from the financial system.

Stuart Theobald, Intellidex

This is a United Nations initiative to deal with the proceeds of crime.

Stuart Theobald, Intellidex

This bill is particularly pro-poor.

Stuart Theobald, Intellidex

Click here (then“like” the page) to follow Bruce on Facebook.

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.

Article brought to us by Old Mutual.


12 April 2017 7:35 PM
Tags:
Corruption
FICA

More from Business

Nigeria flag nigerian 123rf 123rfAfrica 123rfBusiness

Shoprite pulls the plug on Nigeria (pop 206m) – trouble for SA companies abroad?

3 August 2020 6:34 PM

Shoprite is exiting the oil-rich but spending-money-poor nation. Bruce Whitfield interviews Dianna Games (Africa At Work).

Share this:
Read More arrow_forward

Candle Eskom 123rf 123rfbusiness 123rflifestyle

Eskom want its stolen money back – from Koko, Molefe, Singh (etc) and the Guptas

3 August 2020 6:27 PM

The process to recover the looted billions has begun. Bruce Whitfield talks to Steven Powell, Director in Forensics at ENS Africa.

Share this:
Read More arrow_forward

kodak-filmjpg

Kodak shares soar as it pivots to manufacturing ingredients for Covid-19 drugs

30 July 2020 8:52 PM

Kodak's repositioned itself so well, its share price jumped by more than 30% after already surging over 1000% in two days.

Share this:
Read More arrow_forward

Retirement planning personal finance 123rfpersonalfinance 123rflifestyle 123rf

What does the contentious Regulation 28 mean for your retirement funds?

30 July 2020 8:23 PM

On The Money Show, finance expert Warren Ingram explains why he believes the pros of the regulation outweigh the cons.

Share this:
Read More arrow_forward

man-suitcase-travel-tourism-hotel-bed-room-accommodation-stay-getaway-123rf

Tourism industry welcomes easing of regulations, 'but we need to do more soon'

30 July 2020 7:38 PM

TBCSA CEO Tshifhiwa Tshivengwa responds to new measures that allow intra-provincial leisure travel and accommodation bookings.

Share this:
Read More arrow_forward

200115-malegapuru-makgoba-ejpg

'My single most important aim is for load shedding to disappear from face of SA'

30 July 2020 6:20 PM

The Money Show's Bruce Whitfield interviews Eskom interim chair and Health Ombud, Prof. Malegapuru Makgoba.

Share this:
Read More arrow_forward

cellphone-mobile-phone-user-chat-texting-SMS-apps-city-skyline-123rf

Mobicel launches cellphone assembly plant in SA

30 July 2020 6:17 PM

Mobicel marketing director Yusuf Akoojee joined Joanne Joseph on the Afternoon Drive to share more on the development.

Share this:
Read More arrow_forward

Covid-19 insurance 123rf 123rfbusiness 123rflifestyle 123rfpersonalfinance

More insurers ready to 'settle' business interruption claims

29 July 2020 8:43 PM

Guardrisk's announced it will settle 700 small business claims, other insurance companies are following suit says Wendy Knowler.

Share this:
Read More arrow_forward

Cape Town V&A Waterfront

Huge food market development at V&A 'will give smaller businesses a chance'

29 July 2020 7:40 PM

The exciting new project at the V&A Waterfront is going ahead in anticipation of tourism opening up, says CEO David Green.

Share this:
Read More arrow_forward

Dumpster Fire Bill Ward Flickr

How social media became a dumpster fire and what to do about it

29 July 2020 7:15 PM

While it may feel things are getting worse they are starting to get better

Share this:
Read More arrow_forward