Sunday, October 3, 2010

Brazen theft at Cipro points to collusion

Oct 3, 2010 12:00 AM | By Letters
Chris Barron's article on the attempted hijack of Daphne Mashile-Nkosi's company by ANC insider Sandile Majali and his cronies - "When pirates struck" (September 26) - raises all sorts of issues for our country and our future.

It suggests a nest of spies in the Companies and Intellectual Property Registration Office (Cipro), who not only alert a select group of takeover specialists, but who perhaps also collude with them in their efforts.

I see that steps have been taken to improve controls in Cipro, but what has been done to catch the spies who must be trackable on internal computer audit trails?

Or is the chosen supplier's IT system incapable of doing such a trace - despite costing more than double that of the company which failed to win the tender?

There would be little point in taking over a company where there is only property and equipment; cash hoards are a better target.

But knowing when a company is cash-rich suggests inside information from the bank or the company itself. Which is more likely if there are a number of incidents?

Changes to the board and signing powers require a number of important steps within a bank, and surely bank security is alerted when vast sums are withdrawn or deposited and board members change?

The company lawyer alerted Mashile-Nkosi of the change of records at Cipro. How was he alerted? Why is the bank not mentioned?

We realise that friends of the ANC enjoy protection for their actions and omissions in this increasingly tawdry environment. However, this is clearly a case of deliberate fraud and robbery on a massive scale.

Why is the state not prosecuting Majali? Why does Mashile-Nkosi have to do it? Is it too sensitive for the police to carry out their duty?

This buccaneering has got to be as breath-takingly brazen as anything previously reported and is matched only by the foot-dragging in government.

I will watch the egg-dancing and potato-juggling with interest and concern. - John Carter

Just who are the oppressed?

I OFTEN wonder if people like Cosatu general secretary Zwelinzima Vavi, minister of higher education Blade Nzimande and ANC Youth League president Julius Malema - who head organisations which are apparently such champions for the poor and disadvantaged - include themselves as fellow sufferers.

Does Malema have any degree in commerce, book-keeping or economics, or the knowledge or know-how for implementing and structuring the nationalisation of mines?

Has he informed himself of the financial implications of making things work better than they do at present - or is he just looking for political mileage to be able to wield more power than progress?

Nzimande has suggested that the rich pay for the proposed medical scheme for all: but does he include himself among the rich?

Perhaps he has a special list of all the rich in South Africa?

The world has learned much of how the communists have taken from the more affluent and thereby destroyed all vestiges of democracy; enslaving nations by robbing them of personal initiative.

I hope Nzimande has learned something from history.

Vavi could be all wrong with all his ideas of devaluation, strikes, and fair speeches.

Money should be made more valuable; then there will be less demand for more wages. Productivity would supply the necessary increases for all. - Desmond Bester, Jeffreys Bay

Privatisation, not nationalisation

THE decision by the ANC's national general council to fully investigate nationalisation is to be welcomed, provided it is genuine and not political double talk.

A proper analysis of the topic based on the experiences of Cuba, Brazil, China, Zambia and Venezuela will lead to the obvious conclusion that nationalisation has never worked anywhere.

What is required instead is an aggressive push towards privatisation and a reduced role for the state in the economy.

Privatise SAA, Eskom, large parts of Transnet and Telkom - coincidentally, the most anti-competitive players in the economy.

The "development state" is a lie that benefits only the political elite.

Privatisation proceeds should be ploughed into education.

This would provide genuine hope for the millions of South Africans who have been excluded from so much by colonialism, apartheid and now by failed economic philosophies.- Nigel Payne, Johannesburg

Times Live

Comments by Sonny

No wonder the ANC want to muzzle the Media in SA.

They have hijacked everything else!

Don't cry for me South Africa!!

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