Eskom expressed its disappointment over the decision of the rating agency Moody’s that further downgraded the bankrupt entity of the state. The Moody’s Investment Service downgraded Eskom from a B2 to a B3, which means the entity has no confidence in consumers or the rating agency. With the downgrade, Eskom is brought into line with..
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Pull the generator closer and get those candles ready, Eskom #rollingblackouts will be with us shortly
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SA Investment Conference does not create expectations for a better economy
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The South African Investment Conference kicks off this week, and is considered by several political observers and financial experts that to much talking is done but nothing is being achieved. ANC President Cyril Ramaphosa is leading the government’s side to host the second annual meeting held in Sandton. With a kind of theme of “Accelerate..
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SA has a national debt of R3 trillion rand and tax deficit of R53 million
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Following the disappointing mid-term budget speech by Tito Mboweni, the Rand reached its lowest level in weeks. Eskom’s rescue plan has nowhere really figured in either Pravin Gordan’s submission or Mboweni’s budget reason. The government’s financial situation is rapidly deteriorating with the national debt of R3 trillion and a tax deficit of R53 billion. Moody’s..
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SA, which was the world’s largest gold producer, has been struggling to stay afloat because of black zama-zama’s
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The Gold industry is under tremendous pressure in South Africa, and the main reason for this is attributed to blacks illegally extracting gold. Heavily armed gold thieves working in mines are constantly on the lookout for potential threats, and claims that there are police officers working together complicate the task of law enforcement. The illegal..
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Sasol loses 44% of value – CEO’s obliged to resign after controversial Lake Charles Chemicals Project
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The CEOs of the Sasol, Bongani Nqwababa and Stephen Cornell agreed to resign after an independent investigation into a highly controversial US project. The so-called Lake Charles Chemicals Project, which is said to have seven production units that would produce different chemical products, one of which is a type of plastic, would have cost as..
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What could happen to the rand if Moody’s downgrades South Africa to sub-investment grade
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South Africa is preparing itself for the possibility that Moody’s may downgrade the country’s sovereign credit rating to sub-investment grade. Moody’s is currently the only major ratings agency that has South Africa at investment grade – one notch above junk – with a stable outlook. The country has been rated below investment grade since 2017..
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#ParasiticParastatal Another 59 Billion Bailout Has Just Been Granted To Mismanaged & Corrupt Eskom Gravy Train
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The National Assembly voted in favor of a special allocation bill on Tuesday that allows a bailout of R59 billion to struggling Eskom. The bill was approved by 200 votes to 105 with ANC MPs believing the bill is essential to keep the lights on. These MPs argued that many of them grew up in..
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Dawie Roodt: “SA economy can be restored if Eskom privatizes”
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The South African economy can recover, but then the Ramphosa-regime must admit that it does not have the capacity to do so. This is the opinion of an economic adviser who says the one big reason why the country stumbles economically is because the whole world sees how wrong the Ramaphosa regime is in times..
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Bankrupt Gupta mine in Mpumalanga sold to black-owned South African mining group
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A black-owned South African mining group, Lurco, is buying the Gupta family’s Koorfontein mine, Netwerk24 reported on Monday morning. The bankrupt mine in Mpumalanga is owned by the Guptas’ Tegeta Exploration and Resources, a unit of Oakbay Investments. It used to supply coal to Eskom, but has not been operational for some time. Employees last..
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Foreign investors sell R25bn worth of shares in SA
Ramaphosa on begging mission in London to save corrupt & mismanaged SA from economic ruin. How much will #BlackPrivilege score this time?
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ANC President Cyril Ramaphosa is on yet another begging mission to London in an effort to prevent the bankrupt South Africa’s “economic downfall” which in truth is caused by mismanagement, corruption and downright blatant ransacking of the treasury by the ANC, the darling of The West. How will new UK PM Boris Johnson react? The..
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DStv customers, check your bills: “Thousands” have been overcharged for September
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A number of DStv subscribers reported being overcharged on their monthly bills by up to R1 000 in September. And the reason why has infuriated customers. If it’s not Steve Hofmeyr and his mates smashing up decoders, then DStv are pretty good at doing damage to themselves. The television network is facing an almighty backlash,..
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DStv cuts affordable package with KykNET – Pensioners must now subscribe to premium package if they want to watch their favourite Afrikaans soaps
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MultiChoice has informed its DStv Select subscribers that it will discontinue this service on 29 October 2019 and move them to DStv Family. “DStv is continuously reviewing its content line-up, packaging structure and pricing to ensure that customers have access to the best fresh content at great value,” MultiChoice said. “As a result, we will..
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Trade unions are rejecting ANC’s plans to sell non-performing SOE’s
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All indications are that the ANC is prepared to execute the Tito Mboweni plan and sell the non-performing entities. For the ANC it is like swallowing a prickly pear with thorns and all, because it is a testament to their inability to run certain entities profitably. The Ramaphosa government faces an enormous fiscal dilemma, and..
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Old steel industry closes its doors due to poor economic condition in SA caused by ANC regime’s inability to govern country effectively
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Robor, the steel industry that has been providing exceptional service in the manufacture of steel goods for 97 years, is finally closing its doors. The voluntary winding-up of an industry that manufactured steel pipes and other steel products is attributed to the poor quality, cheaper products manufactured by Chinese institutions. In response, the Tiso Blackstar..
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