A senior investigation team is investigating fraud, corruption and maladministration where there are alleged contracts involved in the Sedibeng municipality. Sedibeng is in Vereeniging and the municipality’s operations are now being investigated for alleged fraud of more than R150 million. Godfrey Lebeya from the Hawks unit has appointed senior investigators to investigate the alleged fraud..
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Hawks are investigating fraud of more than R150 million at Sedibeng Municipality
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Numsa gets salary agreement – more pay and perks but no productivity or fewer strikes
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The National Union for Metal Workers (Numsa), has negotiated less than 50% of its salary after months of talks to negotiate a 20% salary increase for its members. The union, which is the largest in South Africa, and which does little more for its members than negotiate new salaries on a regular basis, failed miserably..
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Imported milk from Poland is causing SA dairy farmers to suffer financially
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A dairy farmer Rudolf Burger, from Brandfort in the Free State is upset after he recently discovered a consignment of long-life milk under Woodlands Dairy’s First Choice brand, hailing from Poland at one of SA’s large retailer groups Metro. According to him, South African dairy farmers can supply enough milk to meet local demand. It..
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African Wealth Report – The richest cities in South Africa vs the rest of Africa
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New World Wealth and AfrAsia Bank have published the latest African Wealth Report, showing the levels of wealth of various African nations at the end of 2018. According to the report, South Africa is still the richest country in Africa, with the high net worth (HNWI) population of 39,200 people holding the most wealth at..
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SA economy at weakest in 20 years due to the inability of the ANC to govern
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Business confidence has dropped to a new low over the past month, and large corporations are painting it as the worst state of the last 20 years. According to a poll, more and more businesses are getting pessimistic about the prospects, and an increase in business people who don’t see results is becoming an alarming..
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National Treasury gives SA Express a R300 million bailout
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The National Treasury has just announced that it has committed R300m to drag the bankrupt SA Express airline of its financial difficulties. The company’s Chief Executive Officer, Siza Mzimela, disclosed the information to the media. The airline company needs the R300m guarantee to keep its wings up and does not have the ability to obtain..
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Pay back the money Zuma! – Nkandla in VBS liquidators’ vision – cough up R7m or lose Nkandla
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The ANC’s Jacob Zuma is in a big financial crisis with his multi-million Rand loan he received from bankrupt VBS Mutual Bank and now has to pay back the money. Along with that, there are the million Rand court costs to be paid while more court cases are being filed in an effort to be..
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Bankrupt ANC regime is considering setting up new railway network between Central Transvaal and Durban, and expanding it with a new highway to Cape Town
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The economic gloom in which South Africa finds itself requires new thinking and new initiatives that could lead to a new era of prosperity, but then the ANC president and his government must work together. Economic experts suggest that the neglected roads of the country be rebuilt and then covered with waste that only pollutes..
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Bankrupt Eskom pleads for another government bailout as debt climbs beyond R450bn
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The power utility’s debt is reaching levels beyond R450 billion and Mabuza was in Parliament on Tuesday asking government for more money. Eskom CEO and board chairperson Jabu Mabuza said the power utility’s debt levels have reached the ceiling. Eskom’s debt is reaching levels beyond R450 billion and Mabuza was in Parliament on Tuesday asking..
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Money Robbed from VBS Mutual Bank: detailed account of how EFF leader Julius Malema’s lifestyle, business prospects and political aspirations were funded
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ONE. The lifestyle, business prospects and political aspirations of EFF president Julius Malema were funded from the R16.1-million robbed from VBS Mutual Bank and paid out to Sgameka Projects, the company of the brother of EFF deputy president Floyd Shivambu, Brian. Malema’s share of the loot was R5.3-million and it was dumped into his slush..
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Limpopo roads agency faces R118m in damage claims from potholes alone due to poor management and maintenance
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Poor management and maintenance of SA roads has resulted in damages claims that are eroding municipal budgets. Picture Supplied. A road damaged by rain and snow, that is in need of maintenance. Broken asphalt pavement resulting in a pothole, dangerous to vehicles. The Limpopo department of public works and its entity, Roads Agency Limpopo (RAL),..
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SA economy worse under Ramaphosa regime than during Zuma era
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According to Sakeliga’s CEO Piet le Roux, the political risk is currently worse than during Jacob Zuma’s reign. In a poll, 25% of respondents indicated that they were already moving portions of their operations to foreign ‘ports’. A further 24% intend to “relocate” within the next three years. This diversification is seen as a hedging..
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The SABC wants to increase your TV licence fees- But who are actually still paying for this service that only caters for a certain group of people?
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The South African Broadcasting Corporation (SABC) is looking at increasing its TV licence fees as the embattled state broadcaster continues to face financial challenges. In a parliamentary presentation on 28 August, the SABC said that it has drafted and sent a proposal to increases TV licences fees to communications minister, Stella Ndabeni-Abrahams. However, SABC board..
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Regiments Capital used to plunder the Transnet pension fund – R349m ‘stolen’ from pensioners in four days
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After allegations emerged in court of yet another scam that Regiments Capital used to plunder a Transnet pension fund, Regiments directors quickly agreed to pay half a billion rand to settle all the fund’s claims against it. But Eric Wood, a former director, has gone to court to quash the deal, claiming his former colleagues..
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Thank you SA for voting ANC – SA is broke thanks to the thieving done by ANC cadres in government
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It’s official: the South African state is bankrupt. President Cyril Ramaphosa confirmed it three weeks ago when he responded to questions in parliament. Ramaphosa’s exact words were: “Our resources are now depleted.” In simple terms, this means the government has run out of money. In a normal country, such a statement by the head of..
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