Nedbank used their semi-annual report to issue a strict warning to the government. According to the report, there is a 10% chance that South Africa is heading for a Ramaphobia scenario. It involves the infighting in the ANC, the battle being lost against corruption, more downgrades, power cuts with increasing tensions and social unrest. Nedbank..
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Nedbank warns ANC-regime that there is a 10% chance that SA is heading for a Ramaphobia scenario
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More than 10 million people are unemployed in SA – Rate higher than USA and Germany combined
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10 million South Africans suffer in silence and 900 hundred join them every day. We are all too clever as we talk about public protectors, scandals, politics and infighting. BUT we and our government love forgetting the unemployed. Journalists forget them, Politicians talk for them but never too them. Working people hope they never have..
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Eskom is SA’s downfall with net loss of R20.7 billion and a deficit of R59 billion
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The latest Eskom financial report just released shows once again that the entity is causing the country’s financial collapse. The shock announcement that the power supplier is showing a net loss of R20.7bn for the financial year confirms that Eskom is holding the ANC regime hostage. If the ANC regime wants to see the country..
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We are in big trouble! With more firms shutting their doors ‘South Africa is getting poorer’ and paints a bleak picture of the state of the economy
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According to the figures released by Statistics SA the number of liquidations increased by 24.9% in the second quarter of this year compared with the same period for last year. The estimated number of insolvencies increased by 4.6% in May and a 15.2% increase was estimated in the first five months of this year. Economist..
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Zulu monarch receives R66.7 million despite SA being in an economic crisis
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Natal Prime Minister announced that the ANC-regime is continuing financial support to the Zulu king Goodwil Zwelithini.
The “king” will receive R66.7 million despite the country experiencing an economic crisis as Zwelithini is protecting the Zulu culture and being seen as a symbol of unity in the Natal province.
-Vryburger / 2019-07-26
Northern Cape Experiencing Worst Drought in 50 Years, Yet Still Struggles to Be Declared Drought Stricken Disaster Area
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The drought in the Northern Cape province which has been ongoing for the past 5 years is the worst it has ever been in the past 50 years, and farmers are being ruined due to the government dragging its feet. Northern Cape Premier Dr. Zamani Saul is being asked to declare a provincial emergency and escalate the issue as quickly as possible.
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Africa Still Struggles To Mine Its Own Gold – Tanzania Gives Chinese Licence To Build Refineries, Smelters and Mines
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Africa’s fourth-biggest producer of gold, Tanzania, has awarded licences to China to construct a mineral smelter and two gold refineries. The Tanzanian government seeks to generate more revenues from the nation’s mining industry.
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SA economy taking a dip since all the big guns are pulling out of South Africa caused by political climate – Whirlpool is the next one out taking nearly R1 billion hit in the process
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Appliance maker Whirlpool South Africa, which is also responsible for the Indesit, Ariston, and KIC brands in South Africa, has been sold. On Tuesday the local operation confirmed an agreement had been entered into at the end of June, and said it expects the sale to close in the third quarter – after its parent..
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Rand value expected to crash in next 12 months – No doubt that ANC-regime is responsible for this predicament
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The South African rand lost 30% of its value within 12 months after the start of each of the last four US rate-cutting cycles and 40% of its value within 15 months. The start of a US rate-cutting cycle, combined with other global conditions, could have serious implications for the rand, says currency strategist at..
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Billions of Rands are taken out of SA because of the ANC regime’s inability to manage country effectively
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South African property companies are currently taking billions of rands across the country by making investments overseas. This is due to the poor economy, increased municipal rates and taxes, as well as political uncertainty in the sector as well as fears of expropriation without compensation. Investments overseas in 2018 were almost four times more than..
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Mboweni’s truths: We are bankrupt and people will lose their jobs – If you ever doubted that South Africa’s economy was in deep, deep trouble, doubt no more
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There is a line in Finance Minister Tito Mboweni’s brutally honest 2019 Budget Speech that I can’t get out of my head. “We are borrowing R1.2bn a day.” Read that again. Let it sink in. If you ever doubted that South Africa’s economy was in deep, deep trouble, doubt no more. Some perspective: R1.2bn is..
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According to research, many South Africans are ‘too broke to retire’
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A large number of South Africans earning at least R15,000 a month are delaying retirement because they simply can’t afford it, a survey found. South Africans’ spending habits and aspirations were at odds with reality, a survey by money lender Wonga has shown. Meanwhile, research also shows that many people are simply too broke to..
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Bloodhounds are sucking SA motorists dry so that the ANC can benefit – total fuel tax comes to R5.73 now while little of the levy is intended for the right purpose due to corruption and mismanagement
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A newly released report shows that South Africa’s motorists are being “sucked dry” with heavy levies while little of its intended for the right purpose. Ten years ago, the total tax on fuel was R1.77 and now it has become R5.73 per liter. Financial experts point out that the government is abusing the fuel levy..
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Economic growth and housing in South Africa are not keeping up with population increase- housing shortage is a disaster waiting to happen
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Everyone in South Africa deserves human dignity, a habitable home and food on the table. The reality, however, is that the country’s economic growth rate of less than 1% is not keeping up with the population increase of 1,5% and unless that changes, we will be faced with unemployment and poverty. There are people who..
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Rothschilds the new Guptas? – Rothschild family accused of preying on South Africa’s state-owned enterprises
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South African unions have joined forces to take on the Rothschild family, which they have accused of being involved in attempts to ‘capture’ the country’s SOEs (State Owned Enterprises). According to the Citizen tabloid, the NUMSA (National Union of Metalworkers of South Africa) and the SACCA (South African Cabin Crew Association) released a joint statement,..
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