After years of plundering of the state coffers (taxpayers), corruption, incompetence, affirmative action etc, etc, South Africa now has no money left for the crucial nuclear energy project.
South Africa is interested in realizing a large-scale nuclear project with Russia. However, the country does not have the funds to do so.
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United Democratic Movement (UDM) leader Bantu Holomisa has accused finance minister Nhlanhla Nene of favouritism after the national treasury announced on Wednesday that it would launch a probe into goings on at the Public Investment Corporation (PIC).
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Buckling under the strain of seemingly insurmountable debt, Eskom looks set to implement massive electricity tariff hikes aimed at staving off a complete financial and structural collapse. South Africans are inevitably left to foot the exorbitant bill, caused by gross mismanagement, and nepotism, leading to R19 billion in irregular expenditure, coupled with a long list..
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Addressing the media during the briefing of Chinese President Xi Jinping’s state visit held today in Pretoria, President Cyril Ramaphosa announced China had committed to $14.7-billion in investments.
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Residents of Duduza, Uitenhage, have declared their area a disaster zone. A river of sewage from a main sewer pipe runs past about a 100 RDP houses in KwaNobuhle. Duduza, one of the oldest areas in KwaNobuhle, is situated between Holomisa and Gunguluza. Resident Nothobile Sithebe said the stinking water has been running past her..
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South African state-owned enterprises set the stage for a sad affair. The sordid tale of bottomless funding vanishing under the unexplainable guise of ‘irregular expenditure’ – the millions become indiscernible from the billions, spoken of as fictitious currency. But the money is very real, and it trickles into government coffers through the tax tear in..
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The National Council of Provinces chairperson Thandi Modise believes that AfriForum’s decision to privately prosecute her for animal cruelty is to advance the narrative of the failure of black farmers. Modise believes that AfriForum is targeting her to show that black people can’t farm and the case has emerged now when Parliament is embarking on..
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The municipal manager of a cash-strapped municipality in the Eastern Cape‚ beset by power and water shortages‚ has defended spending R90‚000 on fried chicken after his appointment. Carte Blanche on Sunday lifted the lid on the shocking lack of service delivery by Enoch Mgijima Local Municipality in the town of Komani‚ formerly Queenstown. The heavily..
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According to a report in today’s report, the SA Defense Force tried to smuggle a consignment of guns and ammunition to Cuba without a permit. In addition, they wanted to load this weapon on a hired SAL flight to Havana, which would also carry passengers. Not the airline, the pilots, was aware of the nature..
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Eskom suffered a net loss of R2.3-billion in 2018, the state-owned power producer revealed at it financial results presentation on Monday.
The power utility said its net cash from operations declined from R45.8-billion to R37.6-billion, as it struggled with leadership and operational challenges.
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David Makhura has pledged to return vacant land to the people, and not to wait for parliament. The Gauteng African National Congress conference has resolved to release vacant land as soon as possible for implementing expropriation of land without compensation and will not wait for the go ahead from parliament, chairman and premier David Makhura..
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A Russian delegation is due to come to South Africa to work out a more detailed resettlement plan with the Boer community. The first families of Boers, descendants of Dutch, French and German settlers in South Africa, could soon be moving to Russia to escape farm murders, anti-white racism and rising violence against farmers. An estimated 15,000 Boers want to leave South Africa and become farmers in Russia.
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Finance Minister Nhlanhla Nene has demanded an explanation from SAA for its contract with interim chief financial officer Robert Head that will see him pocketing more than R5‑million for six months’ work.
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The family trust of former VBS Mutual Bank chairperson Tshifhiwa Matodzi was allegedly paid nearly R5-million from Vele Investments’ heist of money from VBS Mutual Bank.
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The media was full of praise for Ramaphosa, immediately after he became president, for his habit to take early morning walks down the Seapoint promenade and talk to joggers and pedestrians. With the latest announcement of possibly yet another fuel price increase in August, it becomes clear to us what Ramaphosa’s REAL motive for this..
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