ESKOM FACING CASHFLOW TROUBLE – THEN STOP SPENDING MONEY ON BONUSES

Eskom spokesman Khulu Phasiwe said the firm’s sales growth had been muted while its operating cost was very high and its tariff for the current financial year was low. South Africa’s scandal-plagued power utility Eskom said on Monday it was not insolvent but was facing serious liquidity issues and would be in “trouble” if the […]
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Junk status looms after mid-term budget fails to inspire confidence – It is not looking good for SA

Economists have warned that South Africa could be in line for a credit downgrade to junk status – possibly before the end of the year. Their fears come in light of Malusi Gigaba’s mid-term budget speech, delivered to parliament on Wednesday. “It is not in the public interest, nor is it in the interests of […]
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Dudu Myeni finaly fired as SAA chair

Dudu Myeni has been removed from the board of South African Airways in what could be a range of changes made to the leadership of the embattled airline. The Mail & Guardian understands that Myeni will be replaced by businessperson JB Magwaza who has been appointed as the new board chairperson. It appears that members […]
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No end to SAA’s nightmares

The nation’s beleaguered airline has breathing room until October 31 — Halloween, after which its debt demons may return to haunt it with a vengeance. It is understood that most of SAA’s lenders have agreed to roll over the outstanding debt that came due at the end of September for one more month while negotiations […]
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Manage Your Ego, to Reduce Your Debt

Wealth and ego are intertwined. From the first moment early civilisations started trading with each other, possessions became a symbol of what sets us apart. Back in the day, a neighbour might envy you as you pulled out your rare ivory-handled knife or marvel at your beautiful wolf skin coat that you’d bought from some […]
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