Sharp focus on IFMS contracts as SITA is added to probe targets

Sharp focus on IFMS contracts as SITA is added to probe targets

The investigation will scrutinise whether contracts were fair, competitive, transparent, equitable, or cost-effective. The beleaguered State IT Agency (SITA) is facing yet another probe, this time over its involvement in National Treasury’s integrated financial management system (IFMS) project. This, as the scope of the Special Investigating Unit’s (SIU’s) investigation of the IFMS tender has been…

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MTN shares tumble on news of US probe

MTN shares tumble on news of US probe

News that MTN Group is facing an investigation by a US department of justice grand jury sent its shares tumbling 9% on Monday, overshadowing results showing it made a half-year profit following a loss a year earlier. The probe is into its conduct and that of its former subsidiary in Afghanistan and an Iranian cellphone…

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