Russian President Vladimir Putin announced at the first Russia-Africa Summit jointly hosted by Russia and the African Union (AU) in Sochi, Russia, that the country has written off more than $20 billion of Africa’s debt. He also intends to double his trade with countries in Africa within the next four to five years. Russia hopes..
Continue reading…
Russia announces that they are writing off R20bn of Africa’s debt
Posted on Leave a comment
What could happen to the rand if Moody’s downgrades South Africa to sub-investment grade
Posted on Leave a comment
South Africa is preparing itself for the possibility that Moody’s may downgrade the country’s sovereign credit rating to sub-investment grade. Moody’s is currently the only major ratings agency that has South Africa at investment grade – one notch above junk – with a stable outlook. The country has been rated below investment grade since 2017..
Continue reading…
One of SA’s richest black businessmen wants to create thousands of jobs – Without a doubt whites will not be involved in the initiative and BEE will be given preference
Posted on Leave a comment
One of South Africa’s richest blacks has set up a fund to provide “thousands of jobs over the next few years”. It is apparently his second big initiative to be announced in a few weeks, and billionaire and businessman Patrice Motsepe has big plans. As CEO of the mining group African Rainbow Minerals, he also..
Continue reading…
Cyber hackers try to steal Bitcoin to the value of R500 0000 on Johannesburg municipal computer system
Posted on Leave a comment
Continued service delivery will apparently be able to be gradually introduced to the Johannesburg municipality after cyber hackers attacked the computer system over the past week. It is expected that everything will come to fruition by Monday when the offices are open to the public again and operations will resume. The crackers filed a 4..
Continue reading…
Irregular expenditure by ANC-parastatale entities increases to R61,3bn – only a stupid foreign investor will invest in SA
Posted on Leave a comment
Auditor-General Kimi Makwetu warned the government that further bailouts to state entities would increase the budget deficit and lead to credit downgrades. The state advanced R446 billion in the 2018/19 financial year to eleven state-owned entities. Irregular expenditure increased from R51 billion to R61.3 billion. A financial expert said in response to the alarming spending..
Continue reading…
Apparently NSFAS’ students are spending their cash-for-textbooks allowance on food, booze and clothes since no books where bought
Posted on Leave a comment
The academic book industry is flailing after the introduction of a new policy that gives students cash, not vouchers. The cash-for-textbooks allowance introduced by the National Student Financial Aid Scheme (NSFAS) in January has cost the book industry more than half a billion rand, putting hundreds of jobs at risk. This is according to data..
Continue reading…
#ParasiticParastatal Another 59 Billion Bailout Has Just Been Granted To Mismanaged & Corrupt Eskom Gravy Train
Posted on Leave a comment
The National Assembly voted in favor of a special allocation bill on Tuesday that allows a bailout of R59 billion to struggling Eskom. The bill was approved by 200 votes to 105 with ANC MPs believing the bill is essential to keep the lights on. These MPs argued that many of them grew up in..
Continue reading…
Dawie Roodt: “SA economy can be restored if Eskom privatizes”
Posted on Leave a comment
The South African economy can recover, but then the Ramphosa-regime must admit that it does not have the capacity to do so. This is the opinion of an economic adviser who says the one big reason why the country stumbles economically is because the whole world sees how wrong the Ramaphosa regime is in times..
Continue reading…
Bankrupt Gupta mine in Mpumalanga sold to black-owned South African mining group
Posted on Leave a comment
A black-owned South African mining group, Lurco, is buying the Gupta family’s Koorfontein mine, Netwerk24 reported on Monday morning. The bankrupt mine in Mpumalanga is owned by the Guptas’ Tegeta Exploration and Resources, a unit of Oakbay Investments. It used to supply coal to Eskom, but has not been operational for some time. Employees last..
Continue reading…
Foreign investors sell R25bn worth of shares in SA
ANC regime just cant resist the old folks money – State still wants to use pensioners funds as a bailout for bankrupt SOE’s
Posted on Leave a comment
The PIC group announced that they will meet in November to consider options to help the bankrupt state entity Eskom with its debt. Pensioners were given the assurance that the value of pensions would not be “wasted”. PIC already carries almost R90 billion of Eskom’s debt and more than one million public servants’ pension is..
Continue reading…
Video: “I Am F*cking Tired of Trying To Survive in This Goddam Country!” Afrikaner Survives Yet Another Attack!
Posted on Leave a comment
Switch on subtitles (CC) for english. “I was just almost hijacked yet again. Let’s just call it that (hijacking). My windows were closed. My doors were locked. And it happens just like that (clicks fingers). Then 4 of them appear at your doors and they all try your car door handles at the same time…
Continue reading…
Power outages cost SA millions of rands a day and could mean an economic downfall
Posted on Leave a comment
Ramaphosa may forget to go ahead with successful results whilst begging for investments when Eskom has already started shedding power, says a well-known economist from Pretoria. Eskom’s load shedding, without any announcement, costs South Africa millions of rand a day, and the entity is in two ways destroying the country economically. On the one hand,..
Continue reading…
Eskom load shedding may have been applied over Nersa not approving electricity supplier’s tariff increase and is now used as leverage to manipulate the initial decision
Posted on Leave a comment
TAU SA finds it extremely suspicious that Eskom suddenly imposes loadshedding just days after the electricity supplier filed a lawsuit against Nersa, the regulator, because the entity was not satisfied with the tariff increases approved. “It almost seems as if there is a subtle blackmail here, as it has often happened in the past if..
Continue reading…
13.8 million people in SA, are living on less than R19 a day, according to the 2019 Household Affordability Index
Posted on Leave a comment
According to the latest Household Affordability Index compiled by the Pietermaritzburg Economic Justice and Dignity Group (PMBEJD), more than half of SA’s population live on less than R41 a day. The September 2019 Household Affordability Index shows that more than half of the population are living on less than R1 230 a month. The Index..
Continue reading…