The ANC’s “policy” to make the country ungovernable is producing vigorous fruit. The Abuqulusi municipality (Vryheid) owes Eskom just short of R50 million. Widespread corruption and mismanagement caused the council to be placed under administration. Suddenly, the Natal Department of Co-operative Awakened Government and Traditional Affairs and stated that they were “stunned” about the state..
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Widespread corruption and mismanagement are the order of the day at KZN municipality – Eskom debt amounts to nearly R50 million – Municipalities under the control of the ANC are folding, one after another
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Transnet wants to keep R2,5bn Gupta contract after High Court ordered contract to be cancelled – Wonder water favours and gifts are at stake here?
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Transnet intends to disregard the High Court’s court order which ruled that a R2.5 billion contract awarded to T-Systems should be cancelled. The court ruled that the contract should be granted to Gijima Holdings. Transnet has made no effort to comply with the court order and aims to extend T-Systems’ contract for another 12 to..
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“Law of the jungle” should no longer be a rule in ANC, expresses Trevor Manuel after voicing his frustration about poor leadership of -ANC comrades in parliament
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The former finance minister, Trevor Manuel, expressed his frustration of the poor leadership of parliamentarians. He requested senior ANC members to teach current ANC leaders to do their job better. He reckons that the “law of the jungle” should no longer be a rule and that people should be taught what a balance sheet is..
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Former Mineral Resources Minister was dismissed by the ANC regime so that Gupta candidate could fill the post to make corruption and state capture possible at Eskom
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The Guptas have been helped to buy the Optimum mine through a pre-payment of R659m by Eskom, said Glencore’s former head Clinton Ephron. Eskom’s fingers were further in the negotiations by fining Optimum Coal with R2.1bn for so-called low-grade coal supply. This forced Optimum Coal to go into business rescue. The rumours are that Eskom..
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#Pay Back the Money – Gupta brothers still owe Sun City money after extravagant marriage 6 years ago – unclear how much money is outstanding from the estimated R100 million wedding
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The Gupta brothers still owe money to Sun City after six years for the greatest wedding extravaganza of the century. However, Sun City spokesman Zoleka Skweyiya says it is not as much as the media speculates. It is unclear how much money is outstanding from the estimated R100 million wedding, and the possibility of recovery..
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Thank Eskom and the Guptas for Being in the Dark – Eskom Staff Were Pushed to Sign R4.3bn Tegeta Contract, #StateCaptureInquiry Hears
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Evidence leader at the Zondo inquiry, Advocate Kate Hofmeyr, on Tuesday, 26 February 2019, gave an overview of the evidence of corruption in Eskom’s coal supply contract with Gupta family businesses that were going to be presented by a new witness. Daniel Mashigo, acting senior general manager for primary energy division at Eskom, took the stand on Tuesday..
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70 of the 190 ‘death trap’ schools flagged for structural defects – recent report has laid bare just how dire the situation at many South African schools really is
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With the latest budget allocating R30 billion in funding to build new schools and maintain the existing school infrastructure, a recent report has laid bare just how dire the situation at many South African schools really is. With the budget allocation for free higher education dwarfing that for school maintenance and for building schools, there’s..
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SARS intensifying revenue collection efforts and bring to book tax dodgers – Seems like the cash strapped ANC is in dire need of money?
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The South African Revenue Service (SARS) is intensifying its effort to identify and bring to book tax dodgers. This comes after revelation that the revenue collector is launching units aimed at tackling the illicit tobacco industry and big business. The illicit economics unit was launched late last year, while the large business unit is expected..
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SA Power Ball may be corrupt – initially it was announced that the R232 million had not yielded a winner and a few days later, they sudden announced a winner announced – majority of people are now starting to assume that this is a bluff game
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South Africa’s people are apparently tired of participating in the so-called “Power Ball” gambling game which is allegedly just a money making scheme. The gambling house announced that a record amount of R232 million could be won, and initially announced that the “prize money” had not yielded a winner. A few days later it was..
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Numsa wants Gordhan’s head over extraordinarily high escalation costs at new failed power stations – according to Gordhan, power stations are “poorly designed and poorly erected”
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Trade union Numsa demanded that the Minister of Public Enterprises, Pravin Gordhan, be dismissed for the extraordinarily high escalation costs at the Medupi and Kusile power stations. The construction cost has doubled to almost R292 billion and both power stations are described as “poorly designed and poorly constructed” by Gordhan. Earlier, it was confirmed that..
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Loadshedding left a trail of destruction in South Africa, weakening the poor economy by at least R10bn; this should be a costly lesson for the Ramaphosa government
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The five days of loadshedding last week left a trail of destruction in South Africa, and should be an expensive lesson for the Ramaphosa government. It was a week in which transformers exploded, damaging equipment in homes and industries, virtually irreparably damaging substations and even weakening the poor economy by at least R10bn. The load..
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Thanks to the ruling ANC regime, SA’s economy outlook is getting worse with Eskom already plunging the country deeper into debt
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In an exclusive interview conducted by Die Vryburger with a well-known political analyst, it seems that 2019 is not a year of good prospects. The anonymous expert says the projections are getting darker with Eskom, who is already plunging the country into debt with loadshedding. In addition to the enormous R2 billion it cost daily..
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While National Treasury and SARS scramble for money, a new focus has been placed on the revenue service’s plans to tax SA expats working abroad , who could face having 45% of their earnings over R1 million fed back to government
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South Africa’s expat tax is coming – and there’s only one way to legally avoid it. Speaking on The Money Show this week, personal financial advisor at Galileo Capital, Warren Ingram said that even though the actual rules around the tax are yet to be finalised, they are planned to come into effect in March..
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South Africa’s new state-owned bank could be a big R7 billion mistake, National Treasury has warned of the possible harmful effects of introducing a state-owned bank into South Africa’s current financial system
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In a presentation to the Standing Committee of Finance on Tuesday (5 February), Treasury warned that a number of recent banking failures – including the failures of African Bank and VBS Mutual Bank – showed that a banking licence should not be handed out lightly. It also warned of previous issues with state-owned banks, highlighting..
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No wonder SA is a failed state, everyone wants to ride on taxpayers’ back and steel the state coffers empty – Icasa chief who stole R6m from Landbank, found guilty of money laundering and fraud charges
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SA’s Independent Communications Authority chairman (Icasa) was found guilty of fraud and money laundering after paying over R6m of the Landbank’s money in his lawyer’s account. He was sentenced to 20 years in prison. Landbank’s former acting chief, Philemom Mohlahlae, was sentenced to 7 years in prison and attorney Dinga Rammy Nkwahu to 24 years..
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