South Africa’s Ramaphosa Intervenes to Address Ruling Party’s Ezulweni Debt
Ramaphosa Steps In to Resolve Ruling Party’s Debt to Ezulweni,The African National Congress (ANC) is facing a significant financial crisis.
The party reportedly owes Ezulweni Investments over R100 million for services rendered during the 2019 elections. In an attempt to avoid liquidation, ANC veterans are stepping in as intermediaries, urging Ezulweni to temporarily halt proceedings.
Their concern is the potential reputational damage such action could inflict on the ruling party. Party secretary-general Fikile Mbalula maintains that Ezulweni bribed Luthuli House staff and is attempting to liquidate the ANC for malicious purposes. President Cyril Ramaphosa has intervened to address the escalating issue.
Post Office to Retrench 6,000 Employees and Close 420 Branches
The South African Post Office, amid financial turmoil, faces a significant overhaul as creditors have approved a business rescue plan spearheaded by Anoosh Rooplal and Juanito Damons, reports SABC News.
This plan includes the retrenchment of almost 6,000 of the company’s 11,000 employees and the closure of approximately 420 Post Office branches.
The adoption of the plan, backed by the required 75% votes from creditors, signifies its binding nature, paving the way for the implementation phase.
Rooplal has confirmed the regrettable necessity of the employee retrenchments as part of the formal process mandated by the approved rescue plan, which is contingent on a R3.8 billion state-funded bailout.
Kaizer Chiefs Suspend Itumeleng Khune and Strip Him of Captaincy
Kaizer Chiefs has taken decisive action against veteran goalkeeper Itumeleng Khune following reports of disciplinary issues, including allegedly attending training under the influence of alcohol, reports TimesLIVE.
The club has suspended Khune and removed him from the team’s captaincy pending an internal investigation into the matter.
Chiefs said in a statement that they had outlined a structured plan for Khune’s temporary separation, emphasising his participation in specific programmes aimed at personal development and addressing challenges.
The club says it is committed to supporting Khune through this period but has set conditions for his return to the team.
