KPMG executives quit
KPMG South Africa chief executive Trevor Hoole, chief operating officer Steven Louw, chairperson Ahmed Jaffer and five senior executives resigned on Friday over work the firm had done for the Gupta family.
The accounting firm also withdrew its South African Revenue Service “rogue unit” report and offered to pay back the R23 million fee it received for the report, or make a donation for the same amount to charity. KPMG was also seeking to take disciplinary action to dismiss Jacques Wessels, the lead partner on audits of Gupta-linked firms, it said.
‘Special bill to help SAA pay back R6.8bn loan’
DEPUTY President Cyril Ramaphosa confirmed, during question-time in the National Council of Provinces this week, that a special Appropriation Bill for a multibillion-rand bail-out for South African Airways (SAA) would be brought before Parliament.
SAA has loaned about R6.8 billion, which is due for repayment on September 30.
Ramaphosa said the matter would be resolved through a twopronged approach. “Any funds being considered will have to be appropriated through a special Appropriation Bill which will, in part, assist the airline’s working capital and repay some of the maturing debt,” he said.