The state’s ability to pay off its debt seems almost impossible. According to Center for Development and Enterprise (CDE) spokeswoman Ann Bernstein, it would take the state 1,000 years to settle its debt if they were able to repay R100 per second. The gap between income and expenditure since 2009 is the main reason for..
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It would take the ANC a thousand years to pay off debt if they were able to repay R100 per second
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Medupi and Kusile power stations are still “off the grid” due to poor construction work, corruption and cost overruns
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More than 600 senior officials from Eskom and some executives were informed of the entity’s “turnaround” plan. According to documentation, Eskom is sitting without cash and has almost completely collapsed on several occasions. R130bn has been loaned to the power provider and the state is expected to help as government announces increased tariffs. Eskom unbundling..
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Taxpayers will now have to bailout the Ramaphosa regime after Moody lost patience with SA’s poor economic situation and proposes a tax increase
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The poor economic conditions, unemployment, little foreign interest, the land grab program, Eskom and other entities’ financial inability are all reasons why the country is in such a mess. Moody’s has pointed out to the ANC-regime that it will have to raise taxes to fix the mess at Eskom, which is the first step to..
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Ramaphosa lets the cat out of the bag: The bad news: ‘Our money’s up’
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Ramaphosa acknowledged in parliament on Thursday that South Africa’s financial resources were depleted while the country’s development needs were enormous. He did not say straightforwardly whether he supported “prescribed assets”, he said later, the pension fund industry and other stakeholders needed to talk about using pension fund assets to support the country financially. The country’s..
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PENSION FUND NEW PIGGY BANK FOR ANC-REGIME TO EMPTY
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There are speculations in government circles that the Trillion Rands currently in pension fund managers’ hands should be used to get South Africa out of its financial predicament, and not just to use the Eskoms, SAA, SABC etc. But believe me there are many other obscure motives behind the discussed move. When the IMF joins,..
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The Rand remains on a rollercoaster of volatility -the currency continued to weaken due to the heightened global growth risks after talk of financial bailout for Eskom
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Last week’s poor global data is indicative of a worldwide economic rough patch. Talk of another massive financial bailout for Eskom has put South Africa on thin ice with Moody’s. The country is said to be fighting a losing battle to keep its last remaining investment grade credit rating. Foreigners have already begun dumping R2..
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CR17 payouts – It appears that the Minister of Small Business had bought votes for Ramaphosa in order for him to win ANC election
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The dust has not yet settled around the CR 17 “donations” in 2017 when it became known that the Minister of Small Business, Khumbudzo Ntshavheni, had made large donations to ANC leaders. The donations are believed to be voting for Ramaphosa during the 2017 ANC leadership election which he won. In Limpopo, Gauteng, Eastern Transvaal,..
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Ramaphosa’s ANC election campaign bank account shows EFF MP received R40,000 – experts say something sounds fishy
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Bank account of Cyril Ramaphosa’s ANC presidential campaign, known as the CR17 , is back in the news. ANC leaders will convene a meeting to discuss the latest incident, which allegedly found that the EFF’s MP, Tebogo Mokwele, received R40,000 from Ramaphosa’s CR17 account. The EFF apparently confirmed that the MP did receive the money..
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Ramaphosa approved new law that frees debt burden of millions of people – however, it is speculated that whites will be excluded from new legislation once again
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The new law, which has just been passed by parliament, could mean that almost 10 million people’s debts may be written off. The law, which is seen as a benefit of predominantly black people, who incurred debt while their income is such that they cannot pay the debt, was of particular concern to the bankers.
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Bad news for motorists: unleaded octane fuel inland will cost you more than R16 a litre,
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Based on the current data, the price of petrol could increase by up to ten cents a litre in September, the Automobile Association said on Thursday. The AA further foresees that the price of illuminating paraffin could increase by 12 cents and diesel as much as 16 cents. The AA commented on unaudited mid-month fuel..
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Economist says consumers are facing a bit of pressure things could get tougher in SA
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JOHANNESBURG – While the latest retail trade figures show a slight increase in consumer confidence, there were fears that pressure on consumers’ income may still decrease sales. Statistics South Africa released a report on Wednesday, showing an increase in retail sales which boded well for economic growth. The main contributors to the increase were clothing,..
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Cash strapped Eskom left red faced after court bans 3-year contract of R350 million for lubricant purchase
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Eskom was banned from awarding a contract that would be valid for three years, amounting to R350 million. The contract involves the purchase of lubricants for use at its various power plants, but the judge banned it because Eskom did not comply with its own procedure or that of the government in awarding contracts. The..
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National Health Plan is going to need at least R180bn to R250bn for 12-month spending – with SA’s faltering economy that’s a disproportionate amount
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Implementing a National Health Plan does not mean, like Eskom, demanding a R50 billion from the government’s money it has collected from taxpayers. The reality is, too, that it cannot come into effect by making a slight upward adjustment in the personal taxes levied. The reality is that at least R180bn to R250bn will be..
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Registered illegal aliens from other countries will have access to all medical services under the NHI, which will be financed by South Africa’s hard-working taxpayers
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The government’s plan to steamroller the National Health Insurance (NHI) through Parliament and to have it promulgated as legislation will cost South Africa dearly. Last month, the FF Plus warned in Parliament that adopting the NHI as legislation and enforcing it will cause experienced medical professionals to leave the country. The Minister of Health, Dr..
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Controversial Public Protector is getting help from supporters by means of a campaign to help her pay legal cost mounting to R900 000 – Maybe Zuma radicals are giving her a life Liné?
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Busisiwe Mkhwebane, the controversial Public Protector appointed by Jacob Zuma, is now getting help from a specific group of supporters for her legal costs. Busisiwe Mkhwebane faces a debt burden of R900,000 for court costs she must pay herself, and apparently offered to pay R100 a month on it. In the meantime, supporters have started..
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