As part of an arrangement, the VBS looting leader enters a guilty plea to 33 crimes.

The Money Show

• A man who played a key role in the R1.9 billion loss at VBS Mutual Bank pled guilty to charges of money laundering, theft, fraud, and racketeering. As part of a plea and sentencing agreement with the State, former VBS head Tshifhiwa Matodzi pleaded guilty to 33 charges on Wednesday in the Gauteng High Court in Pretoria. He received a 15-year prison sentence as a condition of the agreement. In an interview with host Ray White, Pauli Van Wyk, a writer for Daily Maverick's Scorpio division, offers more background on this subject.
• Following ArcelorMittal SA's (Amsa) announcement that its long-running steel division will remain functioning, a significant chunk of the steel value chain as well as the manufacturing sector in South Africa have expressed relief. This story is discussed by journalist Phillipa Rodseth and anchor Ray White on Business Live.
• Despite the downturn in M&A markets in many countries due to rising interest rates, the importance of ESG in acquisitions has increased globally in the previous twelve to eighteen months, according to the third year of the global organization's ESG Due Diligence study. Host Ray White, speaks with Ben April, the Director of ESG Leader Africa Financial Services at KPMG, about these findings.
• In addition to seizing over thirty laptops for further examination, four senior DPWI managers were put on precautionary leave. This story is discussed by host Ray White and Mybroadband Editor Jan Vermeulin.

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