Industrialist takes the IDC & the PP to court: SA is an autocracy without accountability - Angus Norkie

Loading player...
A black industrialist is taking the Industrial Development Corporation (IDC) and the Public Protector (PP) to the High Court. Angus Norkie of Nocks Oil charges that there was “something seriously sinister” in how the goal posts kept being shifted by the IDC when he tried to secure funding. He says “more surprisingly”, when the “maladministration” within the IDC was reported to the PP, he was met with “more lawlessness”. Speaking to BizNews, Norkie gives a blow-by-blow account of his dealings with the IDC since 2018, as well as his subsequent dealings with the PP’s office. “Politicians are fond of saying that we live in a democracy, but that democracy means absolutely nothing without effective public protection…This is autocracy with a lack of accountability,” he says. - Chris Steyn
13 Sep 2023 6AM English South Africa Investing · Business News

Other recent episodes

The BizNews Edge: Economic warnings flash; Corporate giants mispriced; SpaceX tumbles

We explore a toughening economic climate as South African consumer confidence drops and central bank indicators flash red. Discover why the market is blindly punishing value, dragging down Sibanye Stillwater’s debt-free gold business despite solid restructuring plans. We also highlight Attacq’s resilient property portfolio and Steenkamp Kraal’s historic rare earth…
23 Jun 6AM 13 min