A massive decline in the agricultural sector accompanied by smaller declines in transport and retail consumer sectors have dragged the South African economy into recession after nearly a decade of growth. It is a huge blow to President Ramaphosa’s controversial reforms.
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Ramaphosa’s Communist Policies Drag South Africa Into Recession For First Time in a Decade! Agriculture Down 30%
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Treasury News:- Sars shortfall to blame for VAT hike, so we are paying for their incompetency!
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Treasury would not have needed to increase value added tax (VAT) by one percentage point to 15% in April if not for the revenue shortfall at the South African Revenue Services (SARS), deputy director general at national treasury Ismail Momoniat told the Nugent commission of inquiry on Wednesday.
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Cyril Ramaphosa Crashes The SA Economy As Farmers Start Panic Selling Their Land. Even Winemakers Worried
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South Africa’s white farmers have been desperately trying to sell their lands at record pace ahead of planned government land seizures, according to a local farmer’s union. However, there are few buyers. Even Winemakers are expressing concerns.
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Businesses won’t pay the municipalities … but ESKOM directly
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While 96 municipalities across the country are scrambling to negotiate payment agreements with Eskom for overdue bills that amount to R27.8-billion, local businesses are fighting to pay Eskom directly, bypassing the municipalities, in a bid to keep the local economies going.
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AgriSA vs. AfriForum’s #farmlist, who will you believe and support!!
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Afrikaner interest group AfriForum’s publication of an alleged list of farms that it claims are being targeted for land expropriation without compensation has been met with condemnation by agricultural lobby group, AgriSA.
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A bombshell plan to lay off 30 000 public servants, whites will probably be the first to go
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President Cyril Ramaphosa’s administration is planning to lay off 30 000 public servants in the next three years as part of the government’s cost-cutting measures.
The move is likely to put Ramaphosa on a collision cause with labour federation Cosatu, which supported his bid to become the ANC president in December.
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More and more unqualified local government officials are being hunted down, while qualified whites sits on the sidewalk
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Finance Minister Nhlanhla Nene has written to National Assembly Speaker Baleka Mbete with amendments to municipal regulations, allowing a new, shorter time limit for local government officials to get the necessary qualifications to do their jobs.
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Democratic Alliance leaders pick sides amid confusion over party’s decision to ditch BEE
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The factional war within the Democratic Alliance (DA) has intensified, this time over the party’s position to dump what it calls a “disastrous” broad-based black economic empowerment (B-BBEE) policy.
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Three of the VBS execs provisionally sequestrated, Vele liquidated
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Provisional sequestration orders have been granted against three businessmen in the VBS Mutual Bank fraud saga.
Vele Investments, VBS’s main shareholder, has also been liquidated.
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China commits to more investments and ‘saves’ a few company’s in South Africa
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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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VBS chair, Tshifhiwa Matodzi, family trust implicated in bank’s looting
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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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Ramaphosa dares Nigeria to sign free trade deal
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Forty-nine African countries have signed the African Continental Free Trade Area agreement, but Nigeria — the continent’s largest economy — is not among them.
South African president Cyril Ramaphosa put pen to paper on behalf of his country at the African Union summit in Nouakchott, Mauritania last month, and has urged Nigeria to follow suit in a speech in Abuja. South African officials have informed the African Union that they expect the deal to be ratified in Parliament by December this year.
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Brace yourself, tougher times are still ahead
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As temperatures plummeted across the county this week, fuel prices hit record highs of R16.02 for a litre of 95-octane petrol in Gauteng.
Taxi fares and the cost of basic foodstuffs are also expected to rise as a result. But beyond appealing to manufacturers and service providers to hold off on increases, there is no immediate plan for the government to help hard-hit consumers.
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Land Confiscation Will Redistribute Poverty, Not Wealth! 180 Billion Rand’s Mortgages, Food Production and SA Economy Will Be Destroyed
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Zimbabwe 2.0 – The South African economy and the nation’s food production could collapse if the government seizes land from white farmers and redistributes it to black citizens, a local race relations organization has said. The move, approved by the ruling African National Congress (ANC) regime as well as the opposition EFF party earlier this..
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Former execs slapped the firm KPMG for R30m
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Two former KPMG directors who left because of the scandal involving the audit firm and VBS Mutual Bank have slapped the firm with multimillion-rand law suits for defamation and discrimination. But by doing so it has emerged that they were indebted to the embattled VBS — including for an almost R8‑million home loan.
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