A half-mast idea that won’t go away - Nathi Mthethwa’s R22m flag

Loading player...
In some ways it’s the gift that keeps on giving to opposition parties as Arts and Culture Minister Nathi Mthethwa indicates the R22m flag project remains on the table. His counterpart on the opposition bench, Tsepo Mhlongo of the DA, has lambasted Mthethwa in an interview with BizNews for the tone-deaf approach to what he calls a “vanity project”. In response to a parliamentary question asked by Mhlongo, the minister wrote that: “Cabinet’s decision to erect a monumental flag and the review of the project as proposed will be referred to Cabinet for further discussion and final decision. The budget of R22m that was allocated for the monumental flag project over two financial years is within the infrastructure unit of the department.” As a result of the funds already being available, Mthethwa says there is no need for any public participation process to reallocate the funds to any other project. Learn more about your ad choices. Visit megaphone.fm/adchoices
25 Jul 2022 9AM English South Africa Investing · Business News

Other recent episodes

The BizNews Edge: African Bank's Billion-Rand Acquisition Trap

African Bank swung to a loss of nearly a billion rand after a four-year spree of buying and bolting together three banks to build a full-service lender, and the bad debt charge is still climbing. The contrast is brutal: a focused platinum-and-chrome miner, Tharisa, is printing cash with profit up…
25 Jun 7AM 9 min

The BizNews Edge: Nedbank, Grindrod and the coal stock no one was watching

Nedbank confirmed its guidance this morning, and its East Africa deal is weeks from closing - a transformation most investors are still underpricing. Grindrod's Port of Maputo posted extraordinary volumes, but the share may already be priced for perfection. A small coal miner no one follows just disclosed an 1,800%…
24 Jun 8AM 26 min