This is how you leave an institution. No drama a d fully committed to the club till the last moment.
Rele owes Orlando Pirates and it's fans absolutely nothing❗️❗️
@MontleMosetsana @tumisole@TshwalAubrey If you are a public servant, PSR 13e requires you report fraud, corruption and any act which constitutes a contracention of any law, which comes to your attention to relevant authorities.
In Sandton, a major audit firm signed off the financial statements of a construction company for the fourth consecutive year. The books balanced, the documentation was complete and the audit opinion was clean. Months later investigators discovered the company had been inflating project costs and siphoning millions through subcontractors linked to its own executives.
A Thread.
PONZI SCHEME FINED R2BN
South Africa’s FSCA has issued its toughest sanction yet, slapping a R2-billion penalty on trading platform Banxso and banning its former directors for operating what it calls a large Ponzi-style scheme.
Investigators found that client deposits were siphoned into personal and operational accounts while fake returns were used to lure new investors.
Losses exceed R3-billion, with more than 4,200 complaints filed.
Senior executives face lengthy industry bans and multimillion-rand fines, while the case has been referred for criminal prosecution.
Full story - https://t.co/D6GzHtFxZJ
Pictured - FSCA Commissioner, Unathi Kamlana
EXPLAINED - HOW ESKOM GOT IT RIGHT
Last week, Eskom secured its first credit-rating upgrade in over twelve years.
S&P Global lifted the utility from B to B+ after Eskom reported a profit after tax of R24.3-billion for the first six months of FY2026 (to 30 September 2025), a dramatic reversal from the substantial losses recorded in previous years.
Key to the recovery was the launch of the Cost Optimisation and Revenue Enhancement (CORE) programme, which aims to deliver R112-billion in efficiencies over five years.
Eskom also sharply reduced its spending on open-cycle gas turbines, cutting annual costs from R30-billion in 2023 to a projected R8-billion by 2026.
The Eskom turnaround has slashed bond yields, boosted GDP forecasts, and silenced generators across the country.
A CLOSER LOOK
1/ The leadership stability under CEO Dan Marokane is cited as a crucial factor in the turnaround, providing the strategic continuity necessary to enforce financial discipline and drive operational maintenance.
2/ Dan Marokane became Eskom’s CEO in March 2024, making him the utility’s fourth CEO in just four years. Marokane had previously held senior roles at Eskom between 2010 and 2015.
3/ Eskom’s board, chaired by Mteto Nyati since late 2023, is widely regarded as one of the most independent and competent in the company’s history. Their term officially ended on 30 November 2025. The new board starts today, six of whom hold a PhD.
4/ The debt relief package of R254-billion provided by the government is conditional, requiring Eskom to adhere strictly to operational and financial performance targets set by the National Treasury.
5/ Eskom employs around 42,000 people, making it one of South Africa’s largest employers.
6/ The company generates around 95% of South Africa’s electricity. The improved operational stability has been a massive relief to the mining and manufacturing sectors, which are the largest industrial power consumers and were previously severely hampered by Stage 6 load shedding.
7/ Eskom buys about 45% of South Africa’s domestic thermal coal, supporting key mining jobs. Coal-fired power stations still account for more than 80% of Eskom’s total electricity generation, despite growing investment in renewables.
8/ Eskom operates more than 30 power stations, including coal, nuclear, hydro and pumped-storage facilities across the country.
9/ Eskom’s single nuclear plant, Koeberg, provides around 5% of national electricity demand and is the only nuclear power station in the African continent.
10/ A key challenge for Eskom is managing the planned unbundling into three separate entities - Generation, Transmission, and Distribution - a process necessary for long-term reform and competition.
11/ Eskom is a State-Owned Company wholly-owned by the South African government. While its bonds trade on the JSE's debt market, the company itself does not have publicly traded equity shares.
Full story - https://t.co/HL34xeQlm0
@iamkoshiek You’d require further investigation to determine if wrongdoing occurred. It could be admin error, lack of oversight etc. We agree that it’s not good, but a lot of service delivery still happens even when there’s irregular expenditure. We should be careful not to exaggerate.
In 1996, Marvel was bankrupt.
Their stock crashed 99.9%.
They were $700M in debt.
Comic shops were closing everywhere.
Then ONE desperate decision changed everything.
Today, they're worth $150B+
Here's how they pulled off the greatest comeback in entertainment history. 🧵
@aliskywalkr@Hoodville_@NNenjelele Eish with Drake when it’s in closed to just rap. I’m ok with Drakes position, even if he was in Wayne’s position I’ll be ok.
This right here is a perfect response. They are complaining now, come 2026 they will get another opportunity to address their issues, kodwa they’ll probably wave and sing