Robor, the steel industry that has been providing exceptional service in the manufacture of steel goods for 97 years, is finally closing its doors. The voluntary winding-up of an industry that manufactured steel pipes and other steel products is attributed to the poor quality, cheaper products manufactured by Chinese institutions. In response, the Tiso Blackstar..
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Old steel industry closes its doors due to poor economic condition in SA caused by ANC regime’s inability to govern country effectively
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SA steel consumption is at its lowest levels in a decade – ArcelorMittal previously known as Iscor may close some of its South African plants
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In a statement on Wednesday, ArcelorMittal South Africa [JSE: ACL] – the biggest steel producer on the continent – announced that it may close some of its operations. The company, which supplies more than 60% of the steel used in South Africa, has operations in Vanderbijlpark, Vereeniging, Saldanha and Newcastle. South African steel consumption is..
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South Africa stuck in longest downward cycle since before Apartheid (1945)! Ramaphosa tries to talk it better…
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Neither communism nor multiculturalism has ever worked, yet South Africa is implementing both at the same time to disastrous effect! Now Ramaphosa has vowed to rebuild crashing confidence in South Africa’s economy, and desperate South Africans, who want concrete things that can make a difference in the economy, have no choice but to hope he does. He promised real actions that “move the needle,” however in Africa accountability is not required.
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Petrol price increases again – Here is how much you will pay for fuel from October
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The Department of Energy has published the final petrol price changes for October 2019. According to the department, the large difference between the prices of the 93 and 95 grades of petrol is because of a recalculation in the basic fuel price (BFP) for each category. The changes are as follows: Petrol 93 will decrease..
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Planned mass strike in banking sector blocked after interdict was brought to stop between 30,000 and 40,000 workers striking
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Trade union Sasbo and its trade union, Cosatu, are not allowed to continue their planned mass strike in the banking sector on Friday. Various reports were doing the rounds as to what and when the bank staff would strike and speculate on what their effects would be on the country and its people. Economists have..
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12 Municipalities in the Eastern Transvaal are under suspicion of mismanagement and corruption – R2 billion worth of wasteful expenditure incurred
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The Zondo Commission, which raises millions of rand from the state treasury, has now had to shift its focus to the Eastern Transvaal to hear evidence of corruption and state capture in state-owned entities. Corruption in many municipalities in the province, as well as mismanagement and maladministration, seems to have been addressed. At least 12..
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ANC regime threatens financial survival of SA, Government debt increases every day
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The ANC government is extremely dangerous and threatens the financial survival of South Africa, as its eagerness to lend remains unsaturated. This is the opinion of an economic adviser following the SA Reserve Bank’s announcement that government debt is rising faster than provided by any institution. The government’s total loan debt has risen to a..
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Rotten ANC-regime gives valuable Sandton land to Gupta’s, steals Alexandra renewal money
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How is it possible that this rotten ANC organization, which has proven over and over that it is nothing more than an organized criminal cartel, fool the people of South Africa for so long? In another massive scandal it has come to light that the land on which the Sandton Gautrain station is built and..
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Natal farmers won court case against state dispute regarding to what should be fair and equitable remuneration for highly productive agricultural land
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A 13-year court battle gave 20 farmers (willing sellers) a fair price for their land offered to the state. The claims were initially set at about 42 000 ha. Landowners offered some 9,000 ha of highly productive agricultural land to the state to settle the claim.
The government had to admit that the Valuer-General wanted to buy the farms from the farmers for almost half their value. The landowners of Melmoth in Natal entered into an agreement with the Department of Land Reform whereby they would voluntarily make land available to the government. The deal would mean R761m for the farmers.
The government has repeatedly decided that the Valuer-General’s assistance should be called and according to a “government formula” they calculated that the farmers were entitled to only R420 million.
Last week, the government abandoned the fight to use the formula. According to Attorney Bertus van der Merwe, who represented the farmers for the past two years, the turn
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Police officers spent R5.3m on fake EFF and Fees Must Fall investigations
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A pair of top officers are believed to have paid money from a crime intelligence slush fund to ‘informants’ which didn’t exist. A report in the Sunday Independent accuses top police officers of looting crime intelligence funds to the tune of R5.3 million. The publication says an internal report shows that these officials embarked on..
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SA warned to withdraw enough money ahead of banking strike on Friday
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Sasbo’s Joe Kokela said there won’t be money in many ATMs across the country on Friday. South Africans have been warned to withdraw enough money ahead of the nationwide strike in the banking sector on Friday as ATMs and banking services will be shut down. The country’s biggest financial union Sasbo said it would bring..
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SA taxpayers are among the highly taxed in the world – and it could get worse
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Economists say we will most likely see an increase in personal tax and the fuel levy, as government tries to ramp up tax collection. They say government is running out of options to raise money after SARS missed its collection targets over the past few years. Analysts say it’s now a certainty that SARS will..
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Cash-strapped state arms company, Denel failed to supply R250 million worth of military Casspirs to the government of Chad after already receiving R100 million deposit
Sasol, world’s biggest manufacturer of fuel from coal is said to plan sale of its SA coal mining unit – Hopefully not to China?
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Sasol is planning to sell its South African coal-mining business in the coming weeks, according to people familiar with the matter. The company will begin a formal sales process said the people, who asked not to be identified as the information isn’t public yet. The mining business had a turnover of R20 billion ($1.4 billion)..
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7th Brics loan worth R7 billion to be granted to the SA National Roads Agency, controlled by ANC regime will probably not be used for optimal benefits for road users
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The “new Development Bank” known as Brics Bank, has approved the lending of R7bn to the state-owned entity Sanral. This is the seventh loan to South Africa that Brics has granted, and the latest loans are considered another step closer to junk status. The SA National Roads Agency (SANRAL), which initially intended to realize huge..
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