Lease agreements seem to be the new "tenderpreneur phenomenon"-are they that lucrative??? Sent via my BlackBerry from Vodacom - let your email find you!
-----Original Message----- From: Dominic Tweedie <[email protected]> Sender: [email protected] Date: Wed, 19 Oct 2011 07:21:14 To: <[email protected]> Reply-To: [email protected] Subject: [YCLSA Discussion] Post Office CEO Motshoanetsi Lefoka sent on leave during R450m irregular expenditure investigation Business Day *Post Office CEO 'on leave' as Centurion lease probed* *Chantelle Benjamin, Business Day, Johannesburg, 19 October 2011* POST Office CEO Motshoanetsi Lefoka has been placed on leave of absence pending the outcome of a probe into the lease of new offices, involving irregular and wasteful expenditure of nearly R450m, its chairwoman said yesterday. Lefoka The removal of Ms Lefoka and the termination of chief operating officer John Wentzel's contract, who was also acting MD of Postbank, comes during a key phase in Postbank's corporatisation, seen as vital to the Post Office's survival as income from mail and government subsidies dries up. Concern that Ms Lefoka, Mr Wentzel and head of strategy Marietjie Lancaster were allegedly facing disciplinary action for not following tender requirements in the Centurion office lease deal prompted Communications Minister Roy Padayachie to set up a ministerial oversight committee to monitor and speed up the introduction of retail banking in the Post Office. Post Office chairwoman Vuyo Mahlati, speaking at the presentation of its annual results, confirmed a number of disciplinary hearings were being held around "compliance and governance issues", and that two criminal cases had been handed over to the police. With regard to Mr Wentzel, she said they had "mutually agreed to terminate his contract" and that the settlement was not a golden handshake but revolved around contractual obligations that the Post Office was required to meet. Mr Wentzel, a former IT director of Standard Bank , has also been named in a complaint made by the South African Postal Workers Union, which alleges that a R55m tender was incorrectly awarded to PwC when rival Accenture quoted only R28m. The charge was denied by PwC, which said that it was an open tender process. A source has suggested that disciplinary action against Ms Lefoka and Mr Wentzel may have more to do with their positions at Postbank than contravention of the Public Finance Management Act. If this is true, it may emerge in the public protector probes under way. The Post Office's revenue was up 3% to R5,9bn in 2010-11 but aftertax profit fell 48% to R153m. [email protected] *From: http://www.businessday.co.za/articles/Content.aspx?id=156344* ** ** ** -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] . -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] .
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