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/ 10 November 2006

The ANC’s new funding front

This week, we expose a new business front set up by the African National Congress (ANC) to seek profit on its behalf. The Chancellor House group of companies has acquired ”empowerment” stakes in a range of businesses. Often these opportunities have depended on the government’s discretion. This means the ANC, as ruling party, has been both player and referee.

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/ 10 November 2006

Other Chancellor House investments

The African National Congress’s Chancellor House group has targeted investments in sectors of the economy where government institutions dish out opportunities such as business rights or contracts. When companies in which Chancellor holds a share compete for such opportunities, the ruling party becomes both player and referee. Chancellor’s biggest known deal is as part of a manganese consortium. Here are others.

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/ 10 November 2006

Ramatlhodi’s ‘reward’

Former Limpopo premier Ngoako Ramatlhodi received a R100 000 payment from a businessman whose company won multimillion-rand tenders from his government, the Scorpions have alleged. This is just one of a range of cash benefits that allegedly flowed to him after a R750-million pensions administration contract was awarded to Cash Paymaster Services.

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/ 10 November 2006

Court orders journalist to testify

The battle for media freedom took another knock last week when the Cape Town High Court denied journalist Gasant Abarder’s right to appeal against an order to testify in a civil defamation case. Abarder had been subpoenaed to testify in a civil defamation dispute between two private litigants.

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/ 10 November 2006

Who is Viktor Vekselberg?

Viktor Vekselberg, the 48-year-old Russian oligarch, is not known for his corporate ethics. Described by <i>Forbes</i> as a "deal junkie", Vekselberg is ranked the third-richest Russian and the 44th richest person in the world by the magazine. His net worth is about $10-billion, accumulated predominantly through metals and oil.

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/ 10 November 2006

HIV isn’t fussy

I perceive myself as a strong person because many people confide in me when they have problems or face challenges. A number of parents and learners of our school have confided in me about their HIV status. I always try to make them see that this is not the end of the world and assist them in joining support groups in the area. Fortunately, the school has a parent who is a volunteer in doing basic home care. He visits to wash and feed people and to make sure that they take their medication.

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/ 10 November 2006

Banks middle-finger Tito

Tito Mboweni has come up against a new enemy in his battle to curb the credit-spending splurge. The banks. Flying in the face of the Reserve Bank governor’s attempts to bring down consumer spending and debt, South Africa’s banks are going into overdrive by offering consumers new lines of credit in an attempt to grow their books.