A series of proposals such as the possibility of a land tax for farmers and limits on ownership and constitutional amendment were tabled on Sunday by the president’s task force on land reform. Minister of Agriculture, Land Affairs and Rural Development, Thoko Didiza released the report on Sunday, but without much emphasis on the objections..
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If expropriation without compensation wasn’t enough, now ANC regime plans new land tax for SA farmers as well
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Government employees face 10% salary cut to fund crippling Eskom since National Treasury’s box is empty
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National Treasury director-general Dondo Mogajane has said that the best way to fund the bailout of failing state-owned enterprises could be to cut the salaries of all government employees by 10%, according to a report in the City Press. The government has to find a way to close a R120-billion hole in its budget, which..
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Cash strapped Denel asks ANC regime for cash injection of R2.8 billion to pay employees salaries and remuneration
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Weapon manufacturer Denel is one of several state-owned enterprises (SOEs) found amid allegations of corruption and statecapture. The entity finds itself in a deep financial crisis and was forced to ask government for a R2.8 billion bailout to pay suppliers and outstanding salaries. Public Enterprises Minister Pravin Gordhan announced that the company, with the help..
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Pay up Mkhwebane! Public Protector offers to pay R100 a month for her court fees that will take her about 750 years to settle
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The Public Protector of South Africa, Busisiwe Mkhwebane, appointed by Jacob Zuma, court debts has become so much that she will hardly be able to settle the amount. Unconfirmed reports say she has now offered to pay R100 a month to reduce debt. One of the court cases related to the Absa bankers eventually cost..
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Africa Still Struggles To Mine Its Own Gold – Tanzania Gives Chinese Licence To Build Refineries, Smelters and Mines
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Africa’s fourth-biggest producer of gold, Tanzania, has awarded licences to China to construct a mineral smelter and two gold refineries. The Tanzanian government seeks to generate more revenues from the nation’s mining industry.
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SA economy taking a dip since all the big guns are pulling out of South Africa caused by political climate – Whirlpool is the next one out taking nearly R1 billion hit in the process
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Appliance maker Whirlpool South Africa, which is also responsible for the Indesit, Ariston, and KIC brands in South Africa, has been sold. On Tuesday the local operation confirmed an agreement had been entered into at the end of June, and said it expects the sale to close in the third quarter – after its parent..
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Rand value expected to crash in next 12 months – No doubt that ANC-regime is responsible for this predicament
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The South African rand lost 30% of its value within 12 months after the start of each of the last four US rate-cutting cycles and 40% of its value within 15 months. The start of a US rate-cutting cycle, combined with other global conditions, could have serious implications for the rand, says currency strategist at..
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The ANC’s R80 million failure – 13 ‘unused’ Prasa trains, manufactured by the Spanish company under the hammer, because it’s too big for SA rail specifications
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Thirteen locomotives ordered by Prasa from Spanish manufacturer Vossloh Espana will be auctioned to the highest bidder in early September without any of the locomotives being used by Prasa. Already in 2015, the locomotives were found to be too large for South African rail specifications. More than R80 million has been channeled to Maria Gomes,..
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This is no small change – Bedfordview Licensing Station employee arrested for for fraudulently registering vehicles to the value of R1.2-million
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A Bedfordview Licensing Department employee was arrested on July 9 for fraudulently registering vehicles to the value of R1.2-million. EMPD spokesperson Chief Supt Wilfred Kgasago said the EMPD Community Liaison and Monitoring and Evaluation Unit members had been investigating the 28-year-old man for a while before he was arrested. He said the man registered five..
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More than for R376 million that has been spent so far on the Evaton Renewal Project cannot be accounted for – We know where it is! Probably stolen by ANC-cadres
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EVATON – The Democratic Alliance says the Gauteng Human Settlements and COGTA MEC, Lebogang Maile, has failed to account for R376 million that has been spent so far on the Evaton Renewal Project (ERP) in the Emfuleni Local Municipality. In a reply to questions in the Gauteng Provincial Legislature from DA Emfuleni Constituency Head, MPL..
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State Treasury plundering continues – your tax money will fund Eskom with a further R59bn
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Eskom will receive a further R59bn bailout over two years from the government to keep the bankrupt power provider standing. This follows the R69 billion already approved for a three-year period. Eskom’s debt currently amounts to R440bn and is considered the biggest risk to the South African economy. How much money is still to be..
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Billions of Rands are taken out of SA because of the ANC regime’s inability to manage country effectively
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South African property companies are currently taking billions of rands across the country by making investments overseas. This is due to the poor economy, increased municipal rates and taxes, as well as political uncertainty in the sector as well as fears of expropriation without compensation. Investments overseas in 2018 were almost four times more than..
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Mboweni’s truths: We are bankrupt and people will lose their jobs – If you ever doubted that South Africa’s economy was in deep, deep trouble, doubt no more
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There is a line in Finance Minister Tito Mboweni’s brutally honest 2019 Budget Speech that I can’t get out of my head. “We are borrowing R1.2bn a day.” Read that again. Let it sink in. If you ever doubted that South Africa’s economy was in deep, deep trouble, doubt no more. Some perspective: R1.2bn is..
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According to research, many South Africans are ‘too broke to retire’
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A large number of South Africans earning at least R15,000 a month are delaying retirement because they simply can’t afford it, a survey found. South Africans’ spending habits and aspirations were at odds with reality, a survey by money lender Wonga has shown. Meanwhile, research also shows that many people are simply too broke to..
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The ANC is coming for your pensions to fund bankrupt SEO’s
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Well-known economist Mike Schussler has warned that the ANC wants to use your pension money to fund bankrupt state-owned enterprises like Eskom and SAA. Speaking on The Big Liberty Show, Schussler said the planned prescribed assets policy will give politicians control of pension funds and where this money is invested. The policy of prescribed assets..
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