Economy

 

How To Eat A Parastatal Like Transnet – Chunk By R600m Chunk

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Under then-Transnet Chief Executive, Brian Molefe (above) and Chief Financial Officer, Anoj Singh, payments to Regiments ballooned. Transnet paid more than R600-million to two companies – one linked to the ANC and the other to the Gupta family – by shovelling ever more consulting work their way without a competitive tender. The state rail company,..
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This Is How Much Of Your Money Government Has Wasted This Year

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The South African public has been bombarded with media reports about government projects or branches using up millions, even billions of rands of taxpayers’ money. These range from irregular and wasteful expenditure at provincial and municipal levels to infrastructure projects which often balloon well beyond their original budgets. So when broken down, how much do..
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Nkandla Money Mysteries Deepen: Zuma In Spotlight Over Tax Bill, Bank Loan

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Photo:  BREAKING NEWS: Loan applicants are already queuing at the offices of #VBSMutualBank this morning #Nkandla The Nkandla scandal that rocked South Africa shows no signs of subsiding, with more questions being raised than answered over President Jacob Zuma allegedly repaying millions to tax coffers. Even if Zuma has repaid the money, as he says..
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eThekwini Municipality Leaked Private Details Of Almost 100,000 Residents

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The website of Durban’s eThekwini municipality exposed the private details of 98,330 accounts. Residents of the eThekwini Municipality were recently informed that its website was upgraded, only for more technically-minded citizens to discover that their private data was being exposed. Software developer Matt Cavanagh first posted about the security flaws on Twitter yesterday. According to Cavanagh,..
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The Burning Of Books Has No Connection To Calls For Free Education: ANC

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The African National Congress (ANC) joined the government in its condemnation of the destruction of university property as part of student activism around the issue of free university education. The calls come after more than 20 students were arrested for public violence at the University of KwaZulu-Natal. UKZN announced it would break early for the..
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Is SARB Governor Kganyago Next In Firing Line In Zupta State Capture Plans?

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Is South African Reserve Bank (Sarb) Governor Lesetja Kganyago next in line to come under pressure in the campaign by President Jacob Zuma and his allies to take full control of all state entities? A central bank shareholder and former employee set out a scene that suggests Kganyago could well come in for similar treatment..
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South African GDP Hides Growing Levels Of Poverty: StatsSA Expert

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South Africa has released better-than-expected figures for Gross Domestic Product (GDP), but the 3.3% increase in the second quarter conceals the underlying scourge of growing poverty. Economist Mike de Beer, who made the GDP announcement for the statistics body, says the economy is looking weak, with implications for poverty levels. The main problem is that..
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Gospel According To Julius Malema: Enough Sense To Appear Almost Credible

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Julius Malema knows how to work a crowd. Especially a media crowd. Like hordes of populist politicians before him, the EFF leader includes just enough common sense to give his outrageous ideas some credibility. Journalists lap it up, even forgiving attacks on colleagues – like the “bloody agent” outburst against the BBC and anger at..
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Hurray! South Africa Is The Most Corrupt Country In Africa, More Corrupt Than Nigeria And Ghana

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The thing we don’t know about corruption in South Africa is that it is worse than we think it is. The disaster is hugely understated, massively spreading and is now, most times, seen as normal. Let me relate to you what it means for a country to be more corrupt than Nigeria, that’s probably the only way we’ll..
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Economist: Why 3-Day Weekends Make Great Business Sense

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In our office, we have someone I think of as the Minister of Happiness. On her list of tasks is to ensure everyone else is feeling fulfilled at work and iron out any wrinkles that inevitably crop between people who work in a team. She feeds insights gained from a lifetime of reading deeply on..
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Understanding Jacob Zuma: Why Guptas More Valued Than ANC

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South Africa is on the brink of an economic crisis as a plan by President Jacob Zuma and associates to gain greater control of state entities takes shape. It puzzles many that Zuma, who rose to power on the strength of his popularity among the masses, appears to be authorising moves that are destabilising his political..
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OMW,One-Eyed Leading The Blind -This Is Who Could Replace Zuma As President Of The ANC – And South Africa

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Financial research group Nomura has given its predictions for who the most likely candidate will be to take over from Jacob Zuma as president of the ANC, and country. As it stands, Nomura sees two camps within the ANC – the pro-Zuma camp, and the reformers. The group estimates that Zuma supporters make up 60%..
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The Day The ANC Became Above The Law…And Stayed There

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By Mike Smith I believe that nothing in the world is as useless as saying K*****s are useless, but once again the Kafricans showed us that they are in fact Kafrican’ts, Kafric*nts (or as one of our readers calls them “Kafrasites”) who cannot/ could not even occupy their own head office today. This past week,..
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‘Rogue’ Sars Unit Spied For Zuma

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Commissioner Tom Moyane (right) shut down Sars’s intelligence unit after it emerged it might be involved in the illegal gathering of information. The controversial South African Revenue Services (Sars) intelligence unit, which was recently disbanded following headlines that “Sars bugged Zuma”, in fact, spied for Zuma. The unit was shut down by new Sars commissioner..
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Cape Town Universities: How Much Longer Can They Hold The Lamp?

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Cape Town has given to South Africa more than the country can be grateful for. Surpassing all the tourism and wealth this broad-shouldered town has coughed out, it has given to the country the best in university education through the various Cape Town Universities. Of the many Universities that exist in South Africa, Cape Town has..
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