The competition to get SAA free will now begin, which the weakest state-controlled entity now has literally no value. The government’s inability to live up to its promise and make another R2 billion available to SAA as the largest rescue buoy has now made the entity very shaky. Salaries for January can still be paid,..
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SAA crisis becomes ANC nightmare – No banking institution wants to borrow R2 billion for bankrupt government-controlled entity
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Future of SA is bleak after ANC-regime plundered a once model state into junk status and sh*thole
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It is clear that South Africa has become so fragile in the financial field that overall poverty, with the exception of a few wealthy people, will lead to the necessary change in governments.
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De Ruyter has an impossible task of saving bankrupt Eskom
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The fact that Eskom is in a bad position is common knowledge, and this news are reaching investors abroad. The dire condition of SA’s economy makes investors hesitant to invest in the country since they will be risking their money in the maze. After the ANC regime finally realized, after 25 years of mismanagement, that..
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SA’s high unemployment rates are swept in front of Eskom’s door
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Mining houses and corporate businesses are accusing Eskom for the high unemployment rates since their pathetic service delivery is causing uncertainty in the economy. Several institutions announcing in recent weeks that they would need to start retrenchments, unemployment has increased alarmingly rapidly and even greater retrenchments are provided. The uncertainty caused by Eskom in the..
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SA chrome firms warn of more than 1,200 job cuts – Eskom’s unreliability and rising tariffs were some of the main reasons for the layoffs
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Joint venture partners Glencore and Merafe Resources could cut up to 665 jobs and have started consultations with workers at their Rustenburg ferrochrome smelter. Local chrome firms on Monday warned of more than 1,200 potential job cuts, citing power cuts, rising electricity tariffs and increased competition from overseas. The potential layoffs highlight the risks posed..
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Communism Fails in SA Too! ANC Admits Half of State Owned Land Lies Fallow as its Communal Farming Scheme Fails!
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The ANC’s purely communist system of communal farming by so called Community Property Associations (CPA’s), is a total failure and that admission is clear from answers provided to written questions by members of Parliament. Despite this the ANC will no doubt press on with its implementation of the communist policy that the state must own all food producing land, which is what expropriation without compensation is about. Lookup Lenin’s famine in Russia to see where this is headed…
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Eskom drops electricity price bombshell – Consumers will pay ‘50% more’ for electricity if Eskom beats Nersa in court
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The power utility is challenging tariff increases approved by the National Energy Regulator of South Africa (Nersa) for 2019 to 2022. If Eskom gets its way, consumers will pay 50% more for electricity. Eskom contends that approving increases by 9.41% for 2019-2020, 8.10% for 2020-2021 and 5.22% for 2021-2022 instead of the requested 16% was..
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Alexkor, SA state-owned diamond company is on life support
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South Africa’s state-owned diamond mining enterprise Alexkor is desperately in need of cash to pay expenses, but does the struggling entity deserve more funding? Its marine-based concessions stretch from Alexander Bay to Port Nolloth, while its land-based concessions span the equivalent of 865km2. It mines the latter through its Pooling and Sharing Joint Venture (PSJV)..
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Poor economic conditions in SA cause job losses
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With the latest announcement from Telkom regarding the retrenchment of nearly 3,000 employees, the mining industry has also warned that they will be following the same route. Glencore and Merafe are also retrenching due to the poor economy and the extremely expensive electricity. Unconfirmed reports indicate that about 1,000 jobs have been compromised, of which..
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According to experts, Telkom has approximately 4,500 excess staff who are believed to have a direct impact on the profitability of the entity
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The government as Telkom’s largest shareholder has called for an urgent meeting to discuss the company’s plan for retrenching thousands of redundant workers. Earlier last week, Telkom announced its intention to lay off about 3,000 workers, which is a fifth of its total workforce. The Department of Communications and Digital Technology has announced that Minister..
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Why Africans Should Never Have Nuclear! Bomb Goes Off Under Energy Minister Gwede Mantashe As Bankrupt NECSA Board Suddenly Resigns!
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When it comes to nuclear, there is no such thing as leaving things to chance or not having ample room, and money, to cover all the bases. It became clear the ANC regime has no clue what this means as the NECSA board resigned, amidst information that NECSA is totally bankrupt. As the rats jump ship, will we ever find out what THEY did with all the money? Or is Gwede simply not up to the job of budgeting for his department, having been warned June last year?
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Outrage as Telkom CEO Sipho Maseko gets R23 Million & Executives get R100 Million, yet 3,000 employees to be retrenched due to lack of funds?
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Trade union Solidarity has launched an attack on Telkom for planning to fire 3,000 employees after paying its executive team more than R100 million.
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#LetThemEatCake SA in crisis while ANC & black elites eat cake, celebrating its 108 years
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The ruling Anc party,was holding a rally in Kimberley celebrating its 108 years.This celebration, which is usually accompanied by a jovial mood of song and dance by party leaders, members and supporters, happens during a time when the country has been plunged into several crises of epidemic proportions. Can the ANC really afford to celebrate?..
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Greedy Ramaphosa & ANC Want More From Their Personal BEE Cash Cow, Eskom – He Finally Admits Medupi & Kusile Are Unreliable (Have Been Bled Dry) Even As The Blame Game Rages On…
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Planning to fail: Having pocketed millions, if not billions, by plundering Eskom in all sorts of ways through a variety of tender companies and who knows what else, it seems Cyril and The ANC have finally realised the Medupi & Kusile projects have bled dry, and are now looking for new ways to employ (steal) taxpayers money, to continue bleeding them dry… yet another new huge expensive project with new tenders, contracts, bribes & kickbacks. It is the same all over South Africa, build a new school, extort tenders, contracts, bribes & kickbacks. Then burn it down and steal more from the taxpayer by building another school with more tenders, contracts, bribes and kickbacks. The African Way.
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SA’s expected economic growth is adjusted to 0.9% for 2020 – ANC regime is responsible for SA being in such a mess
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The World Bank has just adjusted South Africa’s projected economic growth to 0.9% for 2020 amid the uncertainty surrounding Eskom and load shedding. The 1.3% growth that the World Bank initially predicted for 2019 has now also been adjusted to 0.4%. In spite of these realities, the ANC clings to the ideology that got us..
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