The utility’s Group Chief Executive, Phakamani Hadebe, said the multi-tranche loan facility will contribute to Eskom’s plans to strengthen and refurbish the transmission infrastructure.
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More borrowing, Eskom secures R1.5 billion loan from French Development Agency, they are so deep in trouble, how on earth will they pay it back?
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Goodnews, SA is out of recession: Four factors which ignited the economy
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After slipping into a recession at the start of September, Mzansi has made an instant recovery. The country’s GDP has risen by 2.2% in three months.
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All they know is how to spend money:- Auditor General: Irregular spend at ‘all-time high’
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Auditor General Kimi Makwetu has lamented poor financial controls in the public sector that lead to irregular expenditure, saying the scourge has reached an “all-time high”.
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China gifts SA with R370bn, is that a real gift or are there ulterior motives!
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President Cyril Ramaphosa has secured nearly R370-billion in financing from the Chinese government towards an economic stimulus package.
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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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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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Implementation of Moyane-sanctioned model moved SARS efficiency backwards
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The restructuring of the South African Revenue Service’s operating model was unnecessary and undercut the efficiency of the revenue services. This is according to testimony given during the second leg of the Nugent commission on Tuesday.
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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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Greedy World Bank Endorses Land Expropriation Without Compensation! Happy to Profit From Poor SA’s Misery, Debt and Destruction
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If ever there was proof that we are living in enforced debt slavery, the World Bank has just shown its hand. It is so greedy to create new debt it even endorses South Africa’s Racist Land Expropriation without Compensation Plan, which will surely destroy the country just like Zimbabwe!
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Toll Fees, Petrol to add to consumer debt burden
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Consumers already owing R1.37-trillion in debt will feel more heat from higher fuel and toll prices in May, said a debt expert.
Neil Roets, CEO of Debt Rescue, said in a statement that consumers will also have to contend with financial pressures from the 1% VAT increase.
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Gauteng was leading the revitalisation of the township economies
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Premier David Makhura on Monday said, during his state of the province address, that Gauteng was leading the revitalisation of the township economies, where spending on goods and services went up from a few hundred million rand to billions more in just three years.
The premier said between 2014 and 2017 public procurement spend on township enterprises increased from R600 million to R17 billion.
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This is what Malusi has to say about the 2018 Budget
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For the first time in 25 years, the South African government will hike up Value-Added Tax (VAT) in a bid to fund the gaping hole in the national budget.
With tax collection falling short by R48-billion, compounded by former president Jacob Zuma’s announcement of fee-free higher
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ESKOM FACING CASHFLOW TROUBLE – THEN STOP SPENDING MONEY ON BONUSES
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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
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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
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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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