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S.Africa's Zuma files last-minute appeal at corruption trial

South Africa's embattled former president Jacob Zuma will appeal a court ruling that he stand trial on corruption charges, his lawyer said Tuesday, in a last-minute move delaying a case over bribery allegations dating back to a 1990s arms deal.
The trial would have been the first time Zuma faced a court on graft charges, despite a string of accusations over his long political career.
The High Court in the southeastern city of Pietermaritzburg last week rejected his request to have charges of fraud, graft and racketeering dismissed, clearing the way for the trial to start on Tuesday.
But Zuma's lawyer Thabani Masuku told the court at the start of the trial that the ex-president would appeal, dragging on a case that has seen numerous legal twists over 15 years.
"Mr Zuma would like to exercise the full extent of his constitutional rights, which includes the right to appeal," Masuku said.
Zuma was forced to resign as president last year by the ruling African National Congress (ANC) party after a nine-year reign marred by corruption allegations and dwindling popularity.
He is accused of taking bribes worth four million rand ($270,000) before he became president from a 51-billion-rand ($3.4-billion) 1999 arms purchase by five European firms, including French defence company Thales.
Both Zuma and Thales, which is accused of paying the bribes and was also to stand trial, deny the charges.
The defence team of Zuma, who has claimed he is so broke he had to sell his socks to raise legal fees, maintained that the ex-president had been ready for trial for 14 years.
Both legal teams agreed that proceedings would now be postponed until the provisional date of February 4 next year.
Large crowds of supporters have traditionally rallied for his court appearances, but a smaller number of fewer than 150 was outside the proceedings on Tuesday.
Zuma faces 16 charges of fraud, graft and racketeering related to the purchase of fighter jets, patrol boats and military equipment arms deal when he was deputy president to the country's second black president Thabo Mbeki.
Critics have dubbed him the "Teflon president" for his reputed ability to evade judicial reckoning.
His former financial adviser Schabir Shaik, who allegedly facilitated Thales's payments, was in 2005 found guilty of fraud and corruption and sentenced to 15 years behind bars.
But, shortly after Zuma became president in 2009, Shaik was released on medical parole.
Analysts have warned that if Zuma goes on trial, he will drag down with him many leaders of Nelson Mandela's ANC, which has governed the country since the end of apartheid in 1994.
Zuma has also been accused of overseeing the mass looting of state assets during his presidency.
High on the list of alleged benefactors is the wealthy Indian-born Gupta business family, who were accused of unfairly obtaining lucrative government contracts and even influencing Zuma's ministerial appointments.
Last week the US Treasury blacklisted three Gupta brothers, calling them a "significant corruption network".
The country's former anti-corruption watchdog head Thuli Madonsela accused Zuma of being an integral player who opened the doors for individuals and private companies to loot state resources.
After duelling with Madonsela in the courts, Zuma was ordered to appoint a commission of inquiry into the corruption scandal -- commonly known as "state capture". It has been hearing testimonies since August last year.
Zuma appeared at the inquiry in July, putting on a defiant performance and denying all wrongdoing.
"I have been vilified, alleged to be the king of corrupt people," he said, adding that he had been the victim of "character assassination over 20 years".
President Cyril Ramaphosa, who took over from Zuma, has vowed to tackle deep-seated corruption but faces opposition from senior powerful ANC members, many of whom remain Zuma allies.
source:AFP
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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