Hlonza
66.9K posts
Hlonza
@DiggaTheGrigio
From the streets to the league, from an eighth to a key.
AFRICAN BANK SCHEME EXPOSED South Africa’s African Bank faces mounting pressure after the Financial Services Tribunal backed the Prudential Authority over an “artificial” capital boost. The bank routed funds through a subsidiary in a circular transaction that returned money to itself, inflating its capital position. Regulators likened the move to fraudulent “kite-flying”. Kite-flying involves creating artificial balances by writing cheques between accounts at different banks, effectively obtaining unauthorised credit. The ruling deepens governance concerns following the exit of CEO Kennedy Bungane (pictured). With leadership changes under Thabo Dloti and interim CEO Zwelibanzi Manyathi, scrutiny intensifies, casting doubt over its planned Johannesburg Stock Exchange listing. African Bank responded - ln.run/vrdVU
The Delicious International Food and Music Festival has issued a statement in response to the end of its 12-year headline sponsorship with DStv. Organisers expressed sincere thanks to DStv for their significant support, which helped establish the festival as one of South Africa’s most loved lifestyle events. Per an official Instagram post, the festival is moving into a new independent chapter while remaining fully committed to delivering world-class music, exceptional food, and rich cultural experiences. Key details for 2026: Dates: 19 & 20 September 2026, (the iconic Heritage Weekend). Venue: Kyalami Grand Prix Circuit The organisers described the event as independently owned and built to evolve and last, and they promised more announcements soon, including a hot two-day line-up.
You are one walk away from a better day.
R88.5 BILLION UNCLAIMED The Johannesburg Stock Exchange (JSE) has launched a WhatsApp channel for its ‘Claim It’ scheme, helping people reclaim unclaimed dividends. South Africa holds R88.56bn in unclaimed funds, including R4.5bn in dividends lost due to job changes or outdated details. Since February 2025, 93,000 people have checked eligibility, and 15,000 are owed money. Full details - ln.run/HUdFj Pictured - Vuyo Lee, JSE's Director of Marketing and Corporate Affairs