The ANC cannot be trusted. Not with South Africa’s valuable natural resources like water and certainly not with the public’s hard earned tax money. Just as billions of rands are stolen every year, billions of litres of water are lost due to poor maintenance, mismanagement and skewed priorities. Over the last financial year, 113 billion..
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Collapsing infrastructure highlights ANC government’s incompetence
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SAA airline finds itself in a perpetual debt trap that it just can’t escape from without government bailouts – all this because of incompetent ANC politicians, mismanagement and corruption
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There’s a lot to take in with this story below of what could potentially become a massive crisis for the South African fiscus and taxpayer. In a telltale sign, suppliers to SAA are slashing their payment periods from 21 days to 7 days amid fears of a total collapse in the airline’s finances. This alone..
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When it came to a choice between helping pensioners, who are struggling to make ends meet or bailing out South African Express Airways, the ANC and EFF chose to bail out the latter
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The DA proposed five amendments to the Adjustments Appropriation Bill [B35-2018] to support senior citizens, improve road maintenance and improve rail transport. The political party specifically proposed an increase in the appropriation of Department of Social Development [Vote No. 17] of R1.2 billion to provide the 3.5 million beneficiaries of the old age grant with..
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Sin taxes are increasing – South Africans are going to have to pay more for cigarettes
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According to the Tobacco Institute of SA (Tisa), the country loses approximately R8 billion annually due to the increase in the sale of illegal cigarettes. Sales from July 2018 increased from 33.4% to 41.8% in October 2018. According to the chairman of Tisa, Francois van der Merwe, the cigarettes are manufactured locally, but no indication..
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It seems that the entire ANC’s top structure was involved in the statecapture – No wonder SA is experiencing financial difficulties and to top it all, they are covering for each other
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Gwede Mantashe, who testified on behalf of the ANC before the Zondo commission, called on Barbara Hogan to withdraw her allegations that Jesse Duarte was involved in the state capture. He will later answer Hogan’s allegations that he abused his influence during the appointment of Siyabonga Gama at Transnet. It appears that the entire ANC’s..
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Zuma must still pay back the money he lend for his Nkandla homestead to Scandal-ridden VBS Mutual Bank, which was liquidated in November – a R8.5m bond which he could not afford
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Former president Jacob Zuma is still required to honour monthly payments for his home loan at VBS Mutual Bank, Netwerk24 reported. The scandal-ridden VBS Mutual Bank, which was liquidated on November 13, granted Zuma an R8.5m bond which he could not afford, and it was at least nine months before any documents were signed to..
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R22 million Lottery grant from the NLC hijacked
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When Takalani Tshikalange set up a non-profit organisation in rural Limpopo in 2012 to help people with HIV she hoped to make a real difference. But despite her best intentions, Denzhe Primary Care failed to take off. The organisation lay dormant for four years. Then, out of the blue, Tshikalange received an SMS alert from..
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Cyril Ramaphosa signs National Minimum Wage Bill to uplift the country’s working poor who earn below R20 an hour – What about old age pension Mr President, can’t you increase that as well?
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Employers who are unable to pay the minimum wage due to constraints in their businesses will be eligible for exemptions. President Cyril Ramaphosa has signed the National Minimum Wage Bill, which is expected to benefit about 6-million workers that currently earn below R3,700 a month when it comes into effect on January 1 2019. Business..
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South Africa is in shambles since ANC- regime is totally incompetent to work with money, spending more than R296 million of taxpayers money unnecessarily over the last five years
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The Auditor General found that government has wasted at least R296 million at national, provincial and local government levels over the past five years. Unauthorized, irregular, fruitless and wasteful expenditures incurred resulted in huge money losses the last years. There was a 121% increase in irregular expenditure, and a 68% increase in unauthorized expenses. About..
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Like Spur, Discovery will find out that racial discrimination does not work
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Discovery’s plan to allocate ten percent of its shares to black clients at no cost under the smoke screen of empowerment is nothing but blatant racism. In essence, Discovery’s idea to establish a new bank is a good one seeing as it will encourage competition in the banking industry. It is just a shame that..
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Bad news for consumers before the festive season, Reserve Bank acknowledges SA’s inability and increases interest rates by 0,25% – people will have to tighten the belts this Xmas to not incur unnecessary debt
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The South African economy is still struggling and is in a technical recession since the beginning of the second quarter. The Reserve Bank held its last of six meetings this year, and had no choice but to raise interest rates by 0.25%. The lending rate to banks is thus increased to 6.75% and means that..
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Former president Jacob Zuma and his corrupt, incompetent ANC comrades are to blame for the recent VAT increase and it can’t be reversed due to numerous factors that includes Free Education
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The spectre haunting South African politics won’t go away. Tito Mboweni has blamed the legacy of Jacob Zuma for the VAT increase. In a year of unpopular decisions made by the ANC, the VAT increase has been one of the most contentious. The decision to crank it up by 1% left many South Africans apoplectic,..
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After strong public backlash, insurance provider Momentum announced on Tuesday afternoon that it would pay out the death benefit to the deceased’s family
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This comes after Momentum CEO Johann le Roux previously insisted that the company was right to reject the claim, due to the non-disclosure of a pre-existing health condition by Ganas. Momentum, in a statement published on Tuesday on its website, said the way in which the news of Natalie Ganas’ claim was received by the..
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National power provider Eskom’s is under extreme high financial pressure and debt heads towards the R550 billion mark – wonder if this state entity is going to blast Millions of taxpayers money on bonuses this festive season even though they are cash strapped?
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Eskom chairman Phakamani Hadebe says the power provider is under extremely high financial pressure. According to him, Eskom’s debt will continue indefinitely for the next few years, with the possibility that it may increase from R400 billion to R550 billion. The chairman is also not afraid to admit that the dramatic rise in the foreseeable..
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Germany slaps ANC upside down – discrimination where BEE is an unlawful measure for black favouritism, is definitely unacceptable and therefore Germany is not interested in doing business with SA
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Europe has opened its doors but EU trade partners concessions before making investments in South Africa. Of these, the most important thing is that Germany will not invest in South Africa, as long as the discrimination of a BEE (Black Economic Empowerment) has not been eliminated. Political observers and businessmen in South Africa placed the..
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