Adriaan’s top 10 reads of the day | KPMG off the hook, MultiChoice takeover talks, more load shedding lite

KPMG has agreed to a R500 million out-of-court settlement for its role in the VBS looting scheme.

View Online Adriaan's top 10 reads of the day ADRIAAN BASSON, EDITOR-IN-CHIEF  KPMG is the latest global firm to pay millions of rands to settle damages lawsuits for corrupt practices in South Africa. The disgraced audit firm has agreed to a R500 million out-of-court settlement for its role in the VBS looting scheme that was fraudulently signed off by its auditors.  French entertainment giant Canal+ wants to take control of MultiChoice, making an offer on Thursday to buy all remaining shares it does not own of the DStv owner. From around 6% in 2020, Canal+ has been buying shares in MultiChoice, and now holds a stake of more than 30% - making it the company's largest shareholder.  More Johannesburg households will be able to use basic appliances during stages 1 to 4 of load shedding, says Eskom. The power utility is extending its load-limiting pilot project that allows it to reduce power supply to households with smart meters during rotational power cuts.   That's it for today. Have a relaxing evening.   Regards,   Adriaan.  KPMG agrees to cough up R500 million to quash lawsuit for flawed VBS Mutual Bank audit Disgraced audit firm KPMG has agreed to cough up R500 million to settle a three-year lawsuit by the liquidator of the VBS Mutual Bank, which collapsed in 2018 under the weight of massive looting allegedly perpetrated by its own directors and at least two KPMG auditors.   This week, the South African arm of KPMG and VBS liquidator Anoosh Rooplal concluded a confidential out-of-court agreement to settle the liquidator's damages claim against the audit firm for helping to cover up the corruption that destroyed the mutual bank in March 2018. Read the full story 2. SONA and yet so far: Malema makes another attempt to attend SONA 2024, targets rules of Parliament EFF leader Julius Malema and five of his top brass are relentless in their attempt to attend the state of the nation address next week. 3. 6 arrested, 2 women rescued as Joburg cops crack alleged trafficking network 'preying on Indian women' Police in Johannesburg believe they have uncovered a human trafficking network that lures women from India to South Africa, with the promise of employment, but they are then held captive, and forced into prostitution. 4. Pandor asks ICC prosecutor why a warrant for Putin and not Netanyahu, but he 'couldn't answer' International Relations Minister Naledi Pandor says the International Criminal Court's (ICC) prosecutor "couldn't answer" when she asked why he was able to issue an arrest warrant for Russian President Vladimir Putin, but not for Israeli Prime Minister Benjamin Netanyahu. 5. MultiChoice takeover will help Canal+ take on US giants, says CEO Vivendi SE's Canal+ has offered to buy the shares of South African pay-TV company MultiChoice Group that it doesn't already own in a deal that values the business's shares at R46 billion. 6. More Joburg suburbs will be able to use basic appliances during load shedding - Eskom More Johannesburg households will be able to use basic appliances during stages 1 to 4 of load shedding, as Eskom extends its load-limiting project. 7. Rassie's move back to coach's box may necessitate him leaving director of rugby role Rassie Erasmus' two-year extension to 2025 will be bumped up to a full World Cup cycle deal due to end after the 2027 World Cup. This means SA Rugby may be looking for another director of rugby. 8. Why Western Cape wants provincial disaster declared as battle to contain wildfires continues The Western Cape government has approached the National Disaster Management Centre to declare a provincial disaster as several wildfires rage across the province. 9. Teacher arrested for alleged rape of 11-year-old girl at elite girls' school in Pretoria A 34-year-old man has been arrested for allegedly sexually assaulting and raping an 11-year-old girl at an elite girls' school in Pretoria. 10. Alec Baldwin pleads not guilty to manslaughter as 'new facts' emerge around 2021 Rust killing Alec Baldwin has pleaded not guilty to manslaughter charges over the death of a young woman who was fatally shot on the set of a budget Western. DOWNLOAD THE NEWS24 APP CONNECT WITH US

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