The department of correctional services has allegedly spent nearly R2bn on a programme to fit prisoners who are out on parole with electronic monitoring devices, but these devices remain unused because they can apparently only be fixed in Israel. In one of the department’s most ambitious projects yet, it had hoped to electronically tag 10,000..
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Correctional services: Thousands e-devices that cost taxpayers R1.8 billion rotting in storage
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Rothschilds the new Guptas? – Rothschild family accused of preying on South Africa’s state-owned enterprises
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South African unions have joined forces to take on the Rothschild family, which they have accused of being involved in attempts to ‘capture’ the country’s SOEs (State Owned Enterprises). According to the Citizen tabloid, the NUMSA (National Union of Metalworkers of South Africa) and the SACCA (South African Cabin Crew Association) released a joint statement,..
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ANC government is milking taxpayers! – Figures from 115 countries available, SA ranks eighth with high tax rates
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The South African Revenue Service has increased taxes amid poor economic conditions and consequently poor economic growth. South Africa is among the top ten countries with high taxes and is also the highest with tax rates. Personal taxes have become more important to the greedy government than a source of revenue for the state over..
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SA faces rating crisis due to ANC-controlled Eskom’s gross debt of more than R440bn – How will Ramaphosa overcome this problem without abusing public funds?
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Despite the R230 billion bailout the ANC president promised to Eskom over the next ten years, they are now asking the government for further assistance. At this stage, it appears that the government is going to trade Eskom’s debt for government bonds or through the creation of a special account. According to the Treasury, the..
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Banks’ rights reduced – bankers can no longer just take your money out of account, to settle arrears on installments without permission
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Bankers’ rights have been curtailed by a ruling in the Supreme Court with a case that Standard Bank has lost, and in the future new rules on bankers are applicable. The practice where banks can just grab their share of money owed in a mortgage or loan as soon as a deposit is made, can..
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Zim government paid $10 million to Eskom to clear debt, receive power import after country left in the dark for up to 16 hours a day without power
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HARARE – Zimbabwe’s energy minister said the country had made a significant payment to Eskom to try to clear its debt and receive power imports from South Africa. This comes amid heightened load shedding, that has seen most areas of the country going for up to 16 hours a day without power. Energy Minister Fortune..
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Prepare for total collapse, led by municipalities – recent collapses of basic services at several municipalities are not irregularities, they are omens of nationwide collapses
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The recent collapses of water services in Grahamstown and the KwaZulu-Natal South Coast are not anomalies. They are harbingers of nationwide collapses. The auditor-general, conveniently for the government, waited until after the State of the Nation address by President Cyril Ramaphosa to release his annual report. The president should be appropriately grateful. The bad news..
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If you are white, you are out as tenders go says Pravin Gordhan – there really are no good ANC politicians
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Ironic that Pravin Gordhan was the man who implemented the BBBEE regulations that contributed greatly to the demise of Eskom and other SOE”s and forbade business with any company not under black control. Ironic because, as the current minister for Public Enterprises, he now has to fix the problems he helped to create previously when..
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You, the taxpayer are paying for ministers and deputy ministers cleaning materials, internet services, DStv and cell phones
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Ever wondered who was paying for ministers and deputy ministers’ cleaning materials, internet services, DStv and cell phones? You. Dondo Mogajane … apparently obliged to exchange two BMW X5’s. Even former ministers and their deputies’ free flights can cost the taxpayer as much as R17 million a year, according to the updated version of the..
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Ramaphosa rejects privatization of SOE’s although the whole lot is poorly managed by incompetent staff, and cost SA billions of rands
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President Cyril Ramaphosa has reaffirmed government’s plans to support ailing state-owned enterprises (SOEs) and made it clear that there’s no intention to privatise them. Ramaphosa was replying to debate on his State of the Nation Address at a joint sitting of Parliament on Wednesday. He did not respond directly to criticism from opposition benches, instead..
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ANC regime is going to throw more money funded by taxpayers into the bottomless pit of Eskom, amounts are unknown
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Amidst many promises and assurances before the general election, the lies have triumphed again, as Eskom seems to be getting more money from the government. Stubborn reports indicate that an Eskom delegation has visited the ANC’s president, Cyril Ramaphosa, and some of his cabinet members, and talks have been held in Genadendal. Unconfirmed reports state..
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Economist Dawie Roodt “South Africa is headed for a Zimbabwe situation” – He’s warning us to ‘take our money elsewhere’
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Financial expert Dawie Roodt has explained the chain of events he believes will see South Africa follow the same path Zimbabwe has. Roodt wrote in a column for the Huffington Post this week how South Africa’s economic woes will eventually lead to state looting of taxpayers, then savers, and eventually investors. Where South Africa will..
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Parmalat joined a growing list of private sector companies embarking on restructuring that could leave hundreds of its workers jobless
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The company announced a process to change it’s distribution model first in January and its implementation began in the middle of May. According to the company, the new model involved partially outsourcing components of its logistics distribution network to an external provider. Distribution services in Polokwane, Nelspruit, Bloemfontein, Upington and George have already been outsourced..
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Employees of thirty municipalities may not receive salaries due to a shortage of funds – caused by lack of skill of councils and mismanagement of funds
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It appears that thirty municipalities do not have enough funds to pay their workers at the end of June. This causes medical aid, pension contributions and other policies to fall in arrears and workers are at risk of discontinuing benefits from providers. The latest report shows that municipalities struggle with debt over billions of rand’s..
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How do you explain it? Only 18 of the 257 municipalities in South Africa are functionally correct
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The Auditor-General, Kimi Makwetu, pointed out the big sore in the economy of the country. In his latest report, he shows that politicians and officials simply ignore his office’s recommendations. The other truth that emerges is that municipal councils do not have the necessary skills to handle finance. Only 18 of the 257 municipalities in..
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