A good week for Parks Tau
Parks Tau has stepped in where the competition authorities feared to tread. The minister of trade, industry & competition will appeal the Competition Tribunal’s blocking of Vodacom’s proposed acquisition of a stake in Remgro’s fibre business, Maziv, which would have paved the way for the rollout of internet access in underserved and rural areas. The tribunal’s move brought to a halt a possible partnership between Vodacom and Maziv, valued at between R14bn and R17bn, with a further R25bn earmarked for infrastructure expansion that would have provided online expansion, high-speed internet access and thousands of jobs.
A bad week for Shauwn Mkhize
Shauwn Mkhize, who loves to show off her wealth, is in trouble with the taxman again. While she was posting her regular lavish boasts on social media, the gumshoes from the South African Revenue Service (Sars) were looking into her finances. The tax officials, accompanied by armed police officers, conducted raids on Mkhize’s Durban mansion and the offices and dressing rooms of her Royal AM Football Club near Pietermaritzburg. The raid was linked to a family trust that allegedly owes the taxman R37m. Sars has been investigating the trust for a few months now, after finding discrepancies among its declarations.
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