The rising gold price, the weak Rand that just can’t lift its head, coupled with the uncertainty over the country’s economic situation, has moved investors away from the money unit. Currently, Investgold is selling up to 5,000 gold coins per week, which is a strong indication that confidence in the Ramaphosa regime is continuing to..
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The weak Rand makes investors move away from the currency, now rely on gold instead
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Hostage drama continues – Eskom holds ANC regime prisoner, parasitic parastatal seeks further R59 billion to squander
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The hostage drama in which Eskom has captured the ANC regime has now reached its highest point of arrogance. With a new demand to get R59bn intended for the next two years for mismanagement, all reasonable limits have completely surpassed, say economic experts and informed businessmen. Eskom’s debt burden is already so high that there..
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Shale Gas energy can help Eskom to contribute to greener economy, it is a pity that there is no money for this initiative and underground water can be destroyed
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Experts believe the solutions to all of Eskom’s problems lie in converting to gas to eliminate coal pollution. The investigation shows that gas will eventually be cheaper than coal, while the gas plant will cause about 80% less air pollution. However, the conversion will be accompanied by high expenses, and the power supplier does not..
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SA is collapsing and the bad conditions will put residents at the same level as Zimbabwe’s people
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Political analysts say that conditions in South Africa are now deteriorating by the day, and the bad conditions are now putting residents at the same level as in Zimbabwe. The police service that has lost thousands of rounds of ammunition without any action being taken against the culprits indicates the dire security situation that prevails…
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Eskom may be peddling its problems – now wants to sell some of its power plants to cut losses due to maintenance costs
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Eskom plans to sell off its power plants in order to get rid of the bigger problems in the industry. Informed sources told Die Vryburger that Eskom wants to sell its power plants that require large maintenance costs and are guilty of the huge pollution in certain areas such as the Eastern Transvaal to private..
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Diamond sales at a record low $1 billion drop for current year
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The world-renowned De Beers Company is having an uphill battle in the world of diamond sales while the global economy looks less rosy. With its seventh sales for the current year, it is already clear that the huge $1 billion drop in sales is indicative of a general slump in the diamond industry. However, De..
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Verwoerd Smiling at Education Department Antics – Failing pupils in foundation phase must be put through to next grade so that their human dignity is not compromised
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The opinion of an ANC education minister could harm the future of thousands of pupils in such a way that they will struggle for life in the work environment. It is suggested that pupils who fail grade one, two and three should be transferred to the next grade so that their human dignity is not..
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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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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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ANC-regime drowning in debt -, domestic debt burden exceeds R7 billion and all this for SOE bailouts
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The ANC government is drowning in debt, and its domestic debt burden is a disgrace that is inexcusable but also remains unacceptable. The state owes businessmen in the country more than R7bn, and the foreign debt burden causes the country to receive junk status. Gauteng is believed to be the biggest offender with a debt..
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Liquidations on the rise in South Africa – number of liquidations increased by 13.7% during the first seven months of 2019 with 183 business liquidation recorded in July
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South Africa recorded 183 business liquidations in July 2019, representing a 24.5% rise from 147 liquidations recorded a year ago, according to StatsSA. The stats body said that 1,198 liquidations were recorded so far this year (January to July), higher than the 1,054 recorded in the same period last year. The report found that the..
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SAPS R20 billion budget cuts could lead to a loss of 23 000 personnel over next 3 years
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On Wednesday, in the Portfolio Committee of Police, the South African Police Service (SAPS) announced that National Treasury has instructed SAPS to cut their budget through a 5%, 6% and 7% baseline reduction over the next three years, which may ultimately result in a loss of 23 000 personnel. This shocking announcement comes at a..
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SA citizens could start withholding their tax payments due to years of ANC-corruption which might force the country to seek an international bailout
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Chief of the revenue service, Edward Kieswetter said on Monday that South Africans could start withholding their tax payments due to years of corruption which might force the country to seek an international bailout. Africa’s most industrialised economy has seen revenue collection fall sharply since 2015 due to weak economic growth and maladministration, leading President..
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SAPS medical scheme – R15.7 million of POLMED’s funds ‘looted’ by board of trustees
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Millions of rand in alleged “unlawful looting” of the SAPS’s medical scheme POLMED have drawn the ire of scores of police officers, who have slammed the level of coverage received. Claims are that POLMED, which covers 680,000 members and beneficiaries, has “unlawfully” awarded roughly R15.7 million to its BOT (board of trustees) over three years..
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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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Food production and delivery compromised – Farmers increasingly cautious in current economic climate as well as uncertain about future due to ANC land grab program
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The current financial climate is one of the important factors that make farmers more cautious when purchasing expensive tractors and farm implements. In addition, the government’s land grab program, which is at the very top of the long list of uncertainties, is the biggest reason for farmers not to incur big spending. The rand, which..
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