It is not only the arrears of the Nkandla bond that make Zuma a defaulter, but also the fact that his children’s unpaid school fees earns him the title. The liquidators of the bankrupt declared VBS Bank now hope to get their money by auctioning the Nkandla unit, but it is still a lengthy process..
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Zuma branded as defaulter, owes R12,517 for unpaid school fees, maybe he must consider subsidy?
SAA strike costing R52 million a day and with a bankruptcy record it could mean the end of the entity
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More than 3000 workers affiliated with Numsa and Sacca downed tools at SAA on Friday over a wage dispute and plans to cut more than 900 jobs, costing the airline about R52 million a day. The interim chief financial officer of SAA Deon Fredericks, said the strike was pushing the struggling airline to unsustainable levels…
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Another waste of taxpayer’s money! – Millions down the drain as Tshwane houses will have to be demolished and rebuilt
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Greater Pretoria’s municipality is in trouble but denies that many homes will have to be demolished and rebuilt. An abandoned multimillion-rand housing project in Ga-Rankuwa Unit 10 in the City of Tshwane will be demolished and rebuilt at an extra cost after contractual disputes with the contractor who abandoned the project in June this year…
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Another leeching SEO sinks – 3000 Prasa employees possibly without work after the wasteful expenditures carried out by ANC cadres
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Like almost all other state entities, Prasa seems to be tumbling as well, with the possibility that 3,000 security workers will be retrenched to balance their financial situation. Prasa had to cancel numerous security contracts, which was trailed by the cancellation of various maintenance and repairs contracts. With the large number of cancellations, it’s evident..
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ANC piggy bank is empty – ANC regime owes municipalities R165 billion
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After a thorough investigation, it was found that the treasury of South Africa’s is indeed empty for a long time. It has been discovered that the state’s owes amount municipalities approximately R165 billion. To make matters worse, it must be taken into account that the amount is valid for up to the end of June..
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NBF chief executive earns more than the president – Taxpayers finance public servants’ lavish lifestyles
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According to the DA, Philisiwe Mthethwa, CEO of the National Empowerment Fund (NBF) is probably the highest paid civil servant in South Africa. Mthethwa receives a combined salary package of more than R6 million during the previous financial year. “That’s R2 million more than Pres. Cyril Ramaphosa earns “said Dean Macpherson, DA MP and shadow..
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Court deals Soweto residents who wants to pay a flat tarrif of R150 a month for electricity a blow by striking case off the roll
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Soweto owes R20bn to power provider Eskom, but residents of the township only want to pay R150 a month for their power. Mpho Sesedinyane, ANC councilor and chair of the South African National Civic Organization (Sanco) in Soweto, feels that R150 is a fair amount and that, given the state of the economy, the residents..
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Junk Status looms – Implementation of NHI will have disastrous consequences for SA economy
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AfriForum today sent a letter to President Cyril Ramaphosa, Finance Minister Tito Mboweni and Minister of Health Zweli Mkhize warning the civil rights organization that the implementation of national health insurance (NHI) could eventually lead to the downgrading of the country’s credit rating to junk status . This comes after the credit rating agency Moody’s..
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The Department of Home Affairs faces about R2 billion in claims due to their inability to meet expected services as well as incompetence to maintain law and order in its immigration department
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The Department of Home Affairs already has claims worth about R2 billion that come from civilians because of its inability to meet expected services. The claims are still growing due to the legal costs involved in the construction of cases that had to be resolved in court and of which the Department was apparently ordered..
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Weapon manufacturer Denel has quietly acquired a contract worth R6.3 billion for the export of weaponry
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With the apparent initiative and guidance of the new chief of arms manufacturers, Denel, a contract has been entered into for the export of weaponry worth more than R6 billion. A spokesman for the manufacturer confirmed that a contract had been obtained but that the broader details of it had not yet been disclosed. The..
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South Africa’s army has run out of money – this is how much trouble it is in
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South Africa’s National Defence Force (SANDF) is in a dire financial state, and with no promise of future funding, things may still get worse. Answering in a recent parliamentary Q&A session minister of Defence and Military Veterans, Nosiviwe Mapisa-Nqakula, said that current plans to get the SANDF back on track are entirely dependent on its..
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First Gupta house under the hammer – property apparently occupied by controversial ANC secretary general Ace Magashule’s son
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The first of a number of homes in Saxonword that belong to the Guptas is auctioned by the Park Village auctioneers. The property was occupied by the son of the First Gupta house under the hammer – property apparently occupied by controversial ANC secretary general Ace Magashule’s son, who initially refused to leave the premises…
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Parasitic SOE, Prasa also bankrupt? – Eskom threatens to cut power supply to trains due to default in payment
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This past week, the ANC’s president, Cyril Ramaphosa, had to intervene so that Eskom did not cut off the Passenger Rail Agency of SA (Prasa) power supply. The power supply would be cut off if the president did not intervene, and Prasa’s power supply for electrically powered trains would be cut off, which would force..
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Unemployment Insurance Fund pays more than R63,000 to registered unemployed ‘ghosts’ so one man can benefit from it
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A former Department of Labor employee has been jailed by the Witbank Regional Court for 15 incidents of fraud he was convicted of. The 42-year-old Thokozani Percy Skosana was employed by the Department of Unemployment Insurance Fund’s division, and since 2012 has made several payments to “ghosts” and was able to start the payments with..
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ANC regime’s debt to SA municipalities exceeds R1bn
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Several millions of Rands debt is outstanding with municipalities across SA – ANC regime debt exceeds R1 billion The ANC government’s poor performance, especially in the economic and financial sphere, is also highlighted in its inability to settle its debt to municipalities. The ANC’s Minister of Public Works, De Lille, has acknowledged that the state..
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