The South African Revenue Service has increased taxes amid poor economic conditions and consequently poor economic growth. South Africa is among the top ten countries with high taxes and is also the highest with tax rates. Personal taxes have become more important to the greedy government than a source of revenue for the state over..
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ANC government is milking taxpayers! – Figures from 115 countries available, SA ranks eighth with high tax rates
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SA faces rating crisis due to ANC-controlled Eskom’s gross debt of more than R440bn – How will Ramaphosa overcome this problem without abusing public funds?
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Despite the R230 billion bailout the ANC president promised to Eskom over the next ten years, they are now asking the government for further assistance. At this stage, it appears that the government is going to trade Eskom’s debt for government bonds or through the creation of a special account. According to the Treasury, the..
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South Africa’s rich leave the country as weak rand hits, top professionals have joined the migration rush to leave poverty stricken SA
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New World Wealth has published its South African wealth report for 2019, showing the patterns of the country’s wealthiest people. The report found that the country is currently home to 39,200 High Net Worth Individuals (HNWIs) – defined as individuals who have net assets of $1 million or more. This is a drop of more..
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Zim government paid $10 million to Eskom to clear debt, receive power import after country left in the dark for up to 16 hours a day without power
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HARARE – Zimbabwe’s energy minister said the country had made a significant payment to Eskom to try to clear its debt and receive power imports from South Africa. This comes amid heightened load shedding, that has seen most areas of the country going for up to 16 hours a day without power. Energy Minister Fortune..
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Prepare for total collapse, led by municipalities – recent collapses of basic services at several municipalities are not irregularities, they are omens of nationwide collapses
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The recent collapses of water services in Grahamstown and the KwaZulu-Natal South Coast are not anomalies. They are harbingers of nationwide collapses. The auditor-general, conveniently for the government, waited until after the State of the Nation address by President Cyril Ramaphosa to release his annual report. The president should be appropriately grateful. The bad news..
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Economist Dawie Roodt “South Africa is headed for a Zimbabwe situation” – He’s warning us to ‘take our money elsewhere’
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Financial expert Dawie Roodt has explained the chain of events he believes will see South Africa follow the same path Zimbabwe has. Roodt wrote in a column for the Huffington Post this week how South Africa’s economic woes will eventually lead to state looting of taxpayers, then savers, and eventually investors. Where South Africa will..
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These South African companies are retrenching staff in 2019 – Most probably BEE compliant as well – Unemployment has already soared to 27.5%
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Multichoice has joined the bandwagon of South African companies that are cutting jobs to stay afloat in these difficult times. Why are these South African companies retrenching staff? The satellite network stated that, although billions of rand in returns were reported for the 2018/2019 financial year, consumer behaviour and data on their digital self-service shows..
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Parmalat joined a growing list of private sector companies embarking on restructuring that could leave hundreds of its workers jobless
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The company announced a process to change it’s distribution model first in January and its implementation began in the middle of May. According to the company, the new model involved partially outsourcing components of its logistics distribution network to an external provider. Distribution services in Polokwane, Nelspruit, Bloemfontein, Upington and George have already been outsourced..
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How do you explain it? Only 18 of the 257 municipalities in South Africa are functionally correct
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The Auditor-General, Kimi Makwetu, pointed out the big sore in the economy of the country. In his latest report, he shows that politicians and officials simply ignore his office’s recommendations. The other truth that emerges is that municipal councils do not have the necessary skills to handle finance. Only 18 of the 257 municipalities in..
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Ramaphosa disappoints with first SONA – ANC once again makes promises that are not feasible
Blame Everyone But Themselves: NUMSA Now Blames Rothschild’s, “The New Guptas”, for Problems at Embattled SAA & State Owned Enterprises!
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If there is one lesson communism has taught the world, but which the world has refused to learn, it is that when someone else’s money runs out, someone else gets the blame. The Rothschild’s, who are conveniently white, as all evil perpetrators should be in South Africa, are now accused of preying on South Africa’s state-owned enterprises. 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 State Owned Enterprises (SOEs).
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Black man wake up! ‘The ANC Voters are The Sell-outs’
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There is nothing that black people know except blaming whites for colonising them and taking their land. We will always be controlled by the West because we are not so keen in rolling our sleeves and building our own wealth. There is no excuse for us not to be trend setters in all aspects of..
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Darkest Fears of South-Africans: What future awaits our children in SA, ruled by the ANC-regime?
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In 25 years of African National Congress (ANC) rule, South Africa has become just another failed African state. They were handed a beautiful, orderly, wealthy first world State on a silver platter in 1994. A country that was exporting to Africa, surrounding islands and foreign countries, a country that was economically, industrially and commercially viable..
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Fitch Grade has just downgraded SA’s debt to negative and it seems Standard & Poor are short on their heels
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South Africa’s economists are probably learning a hard economic lesson. Once a rating company questions a country’s creditworthiness and there is a downgrade, it’s difficult to reverse the rating. Fitch Grade has just downgraded SA’s debt to negative and it seems Standard & Poor are short on their heels. According to economists, there are no..
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The ANC regime now wants to loot your pension money to save their struggling state entities
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TAU SA expressed concern about the statements made on public forums by the ANC government where advocacy is being made to use SA’s pension capital for investment in so-called fixed assets. The size of the exit funds can make a huge impact on the national economy; according to the 2017 annual report of the pension..
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