S&P Global Ratings on Friday evening lowered its long-term foreign currency sovereign credit rating on the Republic of South Africa to ‘BB’ from ‘BB+’ and affirmed the ‘B’ short-term foreign currency sovereign credit rating. The outlook is stable. At the same time, the long-term local currency sovereign credit rating was lowered to ‘BB+’ from ‘BBB-‘..
Continue reading…
S&P Downgrades South Africa To Full Junk Status As Rand Slides
Gigaba: SA To Raise Revenue By R15bn In 2018’s Budget To Curb Debt
Posted on Leave a comment
South Africa will implement spending cuts of R25 billion rand and raise revenue by R15 billion in next year’s budget to contain growing debt, Finance Minister Malusi Gigaba told Parliament on Wednesday. Gigaba said the extra R40 billion, or 0.8% of GDP, would be used to tackle rising public debt which otherwise could balloon beyond..
Continue reading…
ANC regime is the reason why South African citizens live in poverty
Posted on Leave a comment
Two equal evils, poverty and inequality lie at the root of South Africa’s economic problems. Both should be treated equally. If the focus is only on inequality, it will create an economy where everyone is equally poor, except the elite which holds power, said adv. Anton Alberts, chairman of the FF Plus. Adv. Alberts said..
Continue reading…
Don’t be fooled by Ramphosa’s ‘New Deal’ or NDZ’s ‘radical economic transformation’
Posted on Leave a comment
It is now abundantly clear that the race to succeed Jacob Zuma as ANC president next month is between his deputy, Cyril Ramaphosa, and Nkosazana Dlamini-Zuma — the president’s former wife and preferred successor. No one else matters. All our attention should be focused on these two. Not that the other supposed candidates for the..
Continue reading…
South Africa Is On The Path To Zimbabwe If We Don’t Act Now
Zackie Achmat: SA is on the verge of ‘chaos’ – Yes we know that already!
Posted on Leave a comment
We must accept we are in an extremely dangerous situation where, unless we do something, we will create the moment of chaos.” This is the warning to South Africa from 55-year-old anti-apartheid activist and acclaimed Treatment Action Campaign (TAC) co-founder Zackie Achmat. “Everyone I know, all of us just hope Cyril [Ramaphosa] will win [the..
Continue reading…
How you will pay for Zuma’s free education plan
Posted on Leave a comment
The government is considering drastic budget cuts to fund free higher education, including cutting social grants, freezing the roll-out of RDP houses and increasing taxes. With the country facing an unpre-cedented R50.8‑billion revenue hole, a treasury document has been put before President Jacob Zuma by the presidential fiscal committee, outlining possible areas where budgets could..
Continue reading…
SARS desperate – goes after taxpayer who owes R0.49
Posted on Leave a comment
SARS is getting desperate after suffering huge shortfalls, and is now auditing a large portion of taxpayers who need to receive refunds. This is according to the Rapport newspaper, which spoke to tax practitioners about changes at the revenue service. According to the newspaper, more salary earners are subjected to audits – while SARS takes..
Continue reading…
The Brothers Who Bought South Africa – Explosive Expose
Kasrils: ‘Jacob Zuma Is Dangerous‚ Deceitful And Has Betrayed His Country’
Saudi tensions could increase SA fuel prices
Posted on Leave a comment
The recent political upheaval in Saudi Arabia will lead to South African motorists paying an additional 70 to 80 cents more for fuel in December. And there could be a further increase of about 60 cents in January if current tensions persists, says Econometrix chief economist Azar Jammine. Oil, which has traded at about $50..
Continue reading…
The State Security Agency makes second attempt to gag Jacques Pauw’s book
Posted on Leave a comment
The State Security Agency has sent yet another cease and desist letter to get The Presidents Keepers withdrawn from bookshelves, but this time the letter was sent to its title editor Russel Martin. Authur and veteran journalist Jacques Pauw announced during the official launch of his book that the SSA’s cease and desist letter gave..
Continue reading…
Treasury letter – Sassa should not have disqualified Post Office
Posted on Leave a comment
A letter by National Treasury to acting South African Social Security Agency (Sassa) CEO Pearl Bhengu says the agency should not have disqualified the South African Post Office (SAPO) from three possible services in the social grants scheme. Treasury was given a week last Wednesday to review all the deal points of the then-collapsing deal..
Continue reading…
Sassa and Sapo agreement date pushed back yet again
Posted on Leave a comment
The striking of the elusive deal between the South African Social Security Agency (Sassa) and the South African Post Office (Sapo) has been pushed back yet again. MP’s at a joint meeting in Parliament on Tuesday heard that an offer to the Post Office to build an integrated IT payment system for a new “hybrid”..
Continue reading…
South Africa is held hostage to the toxic politics of the ANC
Posted on Leave a comment
If it showed anything, the recent medium-term budget policy statement has proven that South Africa does not have a government capable of dealing honestly and head on with the developmental crisis that the country finds itself in. It will not have such a government for some time, at least not until the 2019 general election..
Continue reading…