Property prices in the rich suburbs of Cape Town have dropped by up to 50% of the initial selling price. Sellers in neighborhoods like Constantia and the Atlantic have dropped their prices between 20% and 50% in an effort to get rid of the property. Real estate brokers report that the slightly upward flash after..
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Political condition of SA compels owners to get rid of properties in wealthy suburbs of Cape Town – prices are now down to 50%
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DSTV subscribers pay annually R54 million for senior officials’ salaries – yet programs are broadcast repeatedly and service is excessively expensive
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While the number of subscribers to DStv is declining in South Africa, the subscription fee increases annually to pay the high salaries of its senior officials. Only a few of MultiChoice’s senior executives collectively earn more than R54 million a year. The CEO, Calvo Mawela, receives R10.6 million a year and Tim Jacobs R8.4 million,..
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#Blackprivilege: Soweto residents want to pay a flat rate of R100 per month for unlimited electricity – We all do!!
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While Eskom is drowning in debt and struggling to make ends meet, Soweto residents say they want their debt written off and to only pay R100 per month for unlimited electricity. Eskom currently supplies 135,000 Soweto residents with power, but only 12% of these customers pay for electricity. This non-payment has seen Soweto’s debt to..
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Taxpayers forks out R5.4 million for absent civil servants who are currently sitting at home and doing absolutely nothing
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Taxpayers have so far paid about R5.4 million on civil servants salaries who sit at home due to improper sickness or temporary disability leave in the past year and not doing any work at all. The largest amount of money was paid out by the Department of Environmental Affairs with a huge sum of R1,6..
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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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If expropriation without compensation wasn’t enough, now ANC regime plans new land tax for SA farmers as well
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A series of proposals such as the possibility of a land tax for farmers and limits on ownership and constitutional amendment were tabled on Sunday by the president’s task force on land reform. Minister of Agriculture, Land Affairs and Rural Development, Thoko Didiza released the report on Sunday, but without much emphasis on the objections..
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Government employees face 10% salary cut to fund crippling Eskom since National Treasury’s box is empty
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National Treasury director-general Dondo Mogajane has said that the best way to fund the bailout of failing state-owned enterprises could be to cut the salaries of all government employees by 10%, according to a report in the City Press. The government has to find a way to close a R120-billion hole in its budget, which..
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Cash strapped Denel asks ANC regime for cash injection of R2.8 billion to pay employees salaries and remuneration
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Weapon manufacturer Denel is one of several state-owned enterprises (SOEs) found amid allegations of corruption and statecapture. The entity finds itself in a deep financial crisis and was forced to ask government for a R2.8 billion bailout to pay suppliers and outstanding salaries. Public Enterprises Minister Pravin Gordhan announced that the company, with the help..
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Pay up Mkhwebane! Public Protector offers to pay R100 a month for her court fees that will take her about 750 years to settle
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The Public Protector of South Africa, Busisiwe Mkhwebane, appointed by Jacob Zuma, court debts has become so much that she will hardly be able to settle the amount. Unconfirmed reports say she has now offered to pay R100 a month to reduce debt. One of the court cases related to the Absa bankers eventually cost..
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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
The ANC’s R80 million failure – 13 ‘unused’ Prasa trains, manufactured by the Spanish company under the hammer, because it’s too big for SA rail specifications
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Thirteen locomotives ordered by Prasa from Spanish manufacturer Vossloh Espana will be auctioned to the highest bidder in early September without any of the locomotives being used by Prasa. Already in 2015, the locomotives were found to be too large for South African rail specifications. More than R80 million has been channeled to Maria Gomes,..
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State Treasury plundering continues – your tax money will fund Eskom with a further R59bn
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Eskom will receive a further R59bn bailout over two years from the government to keep the bankrupt power provider standing. This follows the R69 billion already approved for a three-year period. Eskom’s debt currently amounts to R440bn and is considered the biggest risk to the South African economy. How much money is still to be..
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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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SANDF cannot prevent illegal immigration due to lack of finance, nor is it trained to combat urban civilian violence on Cape Flats
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Head of the South African National Defense Force (SANDF), General Solly Shoke, as well as Defense Minister Nosiviwe Mapisa-Nqakula, admitted during the parliamentary session that SANDF has financial difficulties. It is also said that the deployment of the military to counter gang violence on the Cape Flats is not feasible because the army is not trained to combat urban civilian violence. SANDF troops have been in Cape Town for a week, but have not yet left the barracks because they are waiting for intelligence reports and still waiting on a withdrawal strategy.
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