Johann Rupert, who is considered as one of the richest men in the country of South Africa has a Grindrod Bank that holds billions of SASSA. The bank seems to be owned by the company Grindrod Limited. Moreover, Rupert Remgro has possessed 23.1 percent of wealth from Grindrod Limited. Rupert have more interest in terms of commercial media therefore it is not astonishing that Grindrod Bank seems to restrain the headline news although it has more involvement in the story of SASSA. Up until Uncensored carved about Grindrod bank previous week that this small well-known bank has not mentioned anywhere in the bank which seems to dominates the predicament of social security agency as well. This is the way how Les Ma-ada describes it:
SASSA And Grindrod Bank
In any of the portfolios of Gordhan seems to be certain then it seems to be strange that the whole portfolio seems to withstand banking shares as well. This kind of expanded entity seems to be called Grindrod. After taking deep look, you could come to a conclusion that Grindrod seems to be really Grindrod bank as well. You might also ask a question why Grindrod Bank? The answer is highly simple that is Grindrod Banks SASSA. This bank will make R16 or R25 when there is a transaction while doing returns of money on the behalf of the bank SASSA. Of course, profits are also considered as a great factor.
The Sarcasm Of Gordhan Questions About The Grindrod Bank
In today’s parliament, the finance minister named Pravin Gordhan has exposed the truth that R11.2 billion accumulates in the Grindrod bank for almost 5 days prior to being paid out. There are millions in concern for performing absolutely nothing. However, the question was asked by a man who seems to hold some shares in the Grindrod bank as well. They also asked whether we can expect the frenzy of media in this matter asked Rupert, Gordhan, SASSA and Grindrod Bank.
Media Spin And Grindrod Bank
There occurs no happenstance in the silence taking place between Grindrod and Rupert. It is all lays in the section of commercial media campaign to shoot-up their billionaire boss. Just think for a second what they will put in headlines if any other family gets connected with Jacob Zuma for getting connected with account and collecting interests? The Grindrod bank is described by Magda Wierzycka that the bank is possessed by Logistics Company. About R10.5 is listed in the stock exchange of Johannesburg. Moreover, this bank is very small part in Grindrod Group so it cannot comes under overall business model. Therefore, it is grouped in terms of financial services along with stockbroking divisions and asset management.
Challenge For SASSA Billions
Have you had preview at the type of interest created by the Rupert’s bank as it not astonishing that other banks are competing to offer piece of pie although they do not have proper infrastructure to service over 11-million recipients of social grants. However Rupert has got such opportunity to turn millions into interest and could have created schools. But he worked truly for the monopoly capitalists however this greed seems to be endless.