A review of the SA Reserve Bank mandate features in the ANC’s election manifesto, which brushes off the push for nationalisation, but instead drives for a more flexible monetary policy.
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The ANC targets Reserve Bank mandate, they want a more flexible monetary policy
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ANC has decided to simply” expropriate “ordinary South Africans’ savings to save state-owned enterprises – ANC has your pension in sight to try to save sinking Eskom
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Economists have issued a serious warning as they fear public pension funds will be used to fill Eskom’s massive black debt gap. Mike Schussler shares other economists’ fears and says that such rumors have been around for 11 months. Eskom’s debt burden may rise to R600bn over the next few years, and businessmen reckon Eskom..
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Foolish decision by controversial municipal manager sends off a major disaster, can it be attributed to corruption or incompetence to make decisions wisely?
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The overall bankrupt municipality of Fetakgomo Tubatse, which includes towns of Burgersfort, Ohrigstad, Steelpoor, made the foolish decision to dismiss an existing contractor who asked R500,000 to wire homes for electricity. Instead of the company, a new contract was accepted where Eskom would do the job at a huge R9.8m. Patience Busane, the controversial municipal..
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Desperate times calls for desperate measures, but is this the right thing to do? After all financial losses occurred due to incompetence, negligence and corruption – SAA is borrowing R3.5bn from local banks
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South African Airways (SAA) received a R3.5bn loan to keep it going until the end of March. This forms part of the R21,7 billion SA management believes is needs to make its turnaround strategy succeed. SAA spokesperson Tlali Tlali confirmed the R3,5bn was received from local banks. This comes after National Treasury gave R5bn to..
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eThekwini slams those opposed to R20m statues as being against black unity – Taxpayers in Durban will have to cough up for the erection of two new statues of terrorists worth R20m to promote black unity in the province
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Two new statues of terrorists will cost Durban taxpayers R20m. The erection of the statues is alleged to promote black unity in the province. However to the cost of whom? The municipality believe that terrorists Nelson Mandela and Oliver Tambo will be “honored” in this way and will encourage to promote black unity. The previous..
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Price shock beckons if Nersa authorize Eskom’s request- National power provider demands 45% increase in tariffs – Now taxpayers have to pay for state institution’s incompetence
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National power provider, Eskom’s application to Nersa will be heard in Cape Town next week. Nersa has already approved a 4.41% increase, but now Eskom is demanding 15% annually over the next three years, which is three times the official inflation figure. Energy expert Ted Blom says the application should be scrapped until the forensic..
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How nice this is, while the majority of the citizens in the country lives in poverty councillors across SA is set to receive generous salary increases
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More than 9 000 councillors in the country are set to receive a salary increase. This has emerged in a notice published in the Government Gazette last month in which Co-operative Governance and Traditional Affairs Minister Zweli Mkhize determined the upper limits of the salaries, allowances and benefits of all categories of councillors. Mkhize said..
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One of the main reasons why the country’s economic situation can worsen further in 2019 is because the Treasury is in the hands of Africans – of the 55 chief directors there are only seven white men and ten white women
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The Treasury has released dreadful news in a report indicating the breakdown of chief directors at the department. Figures by Tito Mboweni indicate that of the 55 chief directors there are only seven white men and ten white women. The other posts are filled by 25 black men and women, six coloured’s and seven Indians…
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Tons of gold illegally mined from land smuggled out of South-Africa during state capture in the period of the Zuma-administration
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Tons of gold mined illegally was smuggled out of South- Africa during the state capture. In the course of 2012 to 2015, more than 34 metric tons of gold went to Dubai in the United Arab Emirates, which did not reflect in the SA trade account. The information was announced by the Global Initiative Against..
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Millions of Rands of taxpayers money are exploited on State’s funeral burials for so called struggle hero’s to please ancestral spirits while thousands of citizens are living in poverty
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At the rate that ANC’s “stalwarts” are now dying, local governments and the state will be spending a lot of money for burials and funerals. Every ANC member now dying is considered a “struggle hero” and “deserves” a state funeral. African funerals are accompanied by generous refreshments and the traditional rituals that must be completed..
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With SA’s economy unable to grow by 1% under the current dispensation, Finance Minister’s new plans will also fail
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Finance Minister Tito Mboweni has invested a huge meeting of so-called experts to come forward with new plans to reverse the country’s decline. The event presented at the Reserve Bank Conference Center began with Mboweni’s explanation aimed at requesting experts to propose new models that will boost the economy. He says the ANC cabinet has..
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Numsa members threatening a major strike at Kulula Airways right before Christmas demanding a salary increase as well as a 13th check
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British Airways and Comair met on Thursday with the Commission of Arbitration to prevent a possible strike by Numsa members. Members of Numsa demands a 13th check, travel allowance and a 12% salary increase. Comair ensures that in the event of a strike, interruptions will be minimized. Meanwhile, Comair denied accusations of racism by Numsa,..
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Mbalula receives R680,000 for family vacation in Dubai, it is not sure whether taxpayers have funded a portion of holiday
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Despite the findings by the Public Protector that Mbalula has received at least R300,000 from Sedgars Sport for a family vacation in Dubai, the ANC still declared their full confidence in him. The National Prosecuting Authority has indicated that they will check the OB’s report before deciding whether to prosecute. The ride cost R680,000 and..
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This is widely described as a mirror image of what the ANC actually is and how it is ruling SA – The ruling party’s website is still down since it owes an excessive amount of R32,5 million for unpaid accounts
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The ANC website www.anc.org.za is no longer online since September, as website providers and developers have put in a claim of R32.5 million for unpaid bills for the development and maintenance of the website. Unwembi Communications has now taken the ANC court to recover the debt. Questions arose about the ANC who is regularly in..
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Stadium in Cape Town, which was built for the 2010 Fifa football cup, is basically unused and is a burden on taxpayers and bankrupt municipalities
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The Cape Town Stadium, built for the 2010 Fifa World Soccer Cup, is a white elephant and is managed by huge losses. Now the Cape Town Council has allocated millions for the appointment of a company secretary and financial manager. R2.5 million a year has been approved for the two posts. Even JP Smith of..
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