The township is said to owe Eskom R18 billion in unpaid electricity bills. This week, Lungelo Lethu Human Rights Foundation (LLHRF) is finishing up court papers in a bid to haul Eskom to the South Gauteng High Court over electricity disconnections. LLHRF’s president King Sibiya said they want an interim court order forcing Eskom to..
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R100 – that’s how much Soweto residents want to pay Eskom for electricity each month
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SASSA allowance used to buy liquor
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Your taxes are used to provide Sisi with Sassa, but Sisi does not buy food, Sisi buys liquor! Nice Souf Efrika!
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Eskom warns – Be prepared for ‘load shedding at short notice’
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The struggling utility has been forced to go the expensive route of using water and diesel due to the breakdown of some units. The “unexpected loss” of some of Eskom’s generation units over the weekend has left the electricity system “severely constrained”, the struggling energy utility said in a statement. While the statement said load..
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The Department of Tourism is setting up a ridiculous trap gate costing taxpayers R4.5 million to promote tourism
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The Department of Tourism in the Western Transvaal wasted about R4.5 million with a mockery to set up a “funny trap gate”. As if that wasn’t big enough, another R3.4 million was wasted to erect a fence at Taung Hotel School which was purchased for R6 million. The Department, which is trying to attract tourism..
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SA Investment Conference does not create expectations for a better economy
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The South African Investment Conference kicks off this week, and is considered by several political observers and financial experts that to much talking is done but nothing is being achieved. ANC President Cyril Ramaphosa is leading the government’s side to host the second annual meeting held in Sandton. With a kind of theme of “Accelerate..
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Eskom with debt burden of more than R450 billion cuts power supply to parts of Soweto due to default
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The national power supplier is struggling to keep up with its debt burden of more than R450bn and the ineffective functioning of many power plants. In addition to its own problems, Eskom has continued to act reluctantly against municipalities that do not pay their monthly consumption to Eskom, and Eskom is too cumbersome to act..
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SA has a national debt of R3 trillion rand and tax deficit of R53 million
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Following the disappointing mid-term budget speech by Tito Mboweni, the Rand reached its lowest level in weeks. Eskom’s rescue plan has nowhere really figured in either Pravin Gordan’s submission or Mboweni’s budget reason. The government’s financial situation is rapidly deteriorating with the national debt of R3 trillion and a tax deficit of R53 billion. Moody’s..
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SA, the country once known as the most prosperous one on the African continent, is downgraded by Moody’s to position near to junk status
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While Cyril Ramaphosa delights in the Rugby players’ victory in Japan, Moody’s downgraded the country’s financial position near to junk status. In the next 12 to 18 months, the Ramaphosa regime will have to implement good plans otherwise there will be another major setback for the country that was once known as the most prosperous..
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Eskom which is battling with R441 billion debt, won’t be privatized – ANC-regime’s plan to save the power supplier from ruin disappointing
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Public Enterprises Minister Pravin Gordhan yesterday unveiled the government’s latest blueprint to kickstart Eskom, which proposes major shifts in the ailing entity’s business model. Politicians, as well as political analysts and financial experts are disappointed in the plan, whose content can be vague and probably poorly implemented, as announced by the minister. Not only did..
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E-toll system not going anywhere – According Finance Minister, Gautengers must just except their fate and pay up
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Finance Minister Tito Mboweni said on Wednesday during his interim budget speech that the offending e-toll project will continue and consumers will be held responsible for the costs, with payments now being tightened and regulated. The people of the Central Transvaal will have to fall in love with the fact that Minister is not prepared..
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SA debt burden sky-high, municipalities bankrupt, SOE’s a huge burden on taxpayers’ shoulders, and ANC regime not capable to find solutions that are feasible and effective
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Finance Minister, Tito Mboweni issued a cold warning Wednesday in his Medium Term Budgetary Framework (MTBR), and said if action is not taken urgently, South Africa could end up in a debt trap, with rising interest payments on debt, higher interest rates and even higher unemployment. This admonition comes amid a sharp lower adjustment in..
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Taxpayers fork out millions for 703 vacant state-owned buildings
SA, which was the world’s largest gold producer, has been struggling to stay afloat because of black zama-zama’s
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The Gold industry is under tremendous pressure in South Africa, and the main reason for this is attributed to blacks illegally extracting gold. Heavily armed gold thieves working in mines are constantly on the lookout for potential threats, and claims that there are police officers working together complicate the task of law enforcement. The illegal..
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Sasol loses 44% of value – CEO’s obliged to resign after controversial Lake Charles Chemicals Project
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The CEOs of the Sasol, Bongani Nqwababa and Stephen Cornell agreed to resign after an independent investigation into a highly controversial US project. The so-called Lake Charles Chemicals Project, which is said to have seven production units that would produce different chemical products, one of which is a type of plastic, would have cost as..
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World’s richest man, Bill Gates visits SA with the aim of providing assistance to poor black people of the country, but no help for the impoverished whites
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The owners of the Gates Foundation of America, Bill and Melinda Gates, paid a visit to South Africa with the aim of providing further assistance to the poor black people of the country. For years they have been struggling not only to fight diseases such as HIV and tuberculosis, but also to provide water and..
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