Malusi Gigaba – Prepare for a tough budget

President Cyril Ramaphosa has been pressuring the finance ministry to reduce spending and increase revenue, and South Africans should thus prepare for another tough budget, finance minister Malusi Gigaba told the Mail & Guardian.

Amid speculation that Gigaba could be reshuffled out of the paramount ministry by Ramaphosa after his takeover as head of state,
Continue reading…

Enjoyed this post? Share it!

 
 

Rand weakens after Zuma’s veiled treats

JOHANNESBURG – Embattled President, Jacob Zuma was on Tuesday given an ultimatum to resign as head of state or otherwise face a motion of no-confidence in Parliament tomorrow.

ANC Chief Whip Jackson Mthembu and ANC treasurer-general, Paul Mashatile on Wednesday afternoon, announced the decision of the ANC caucus; to announce a motion of no-confidence in the President, scheduled to take place on Thursday.
Continue reading…

Enjoyed this post? Share it!

 
 

South Africans are trying to decode Ramaphosa (and getting it wrong)

During the Cold War, a new profession emerged – “Kremlinologists”, a hodge-podge of academics, journalists, other scoundrels, and commentators, who would study every minute detail of the behaviour of Soviet Union leaders when they were in public. They examined who stood next to whom, whose chair was closer or further away from the leader, who […]
Continue reading…

Enjoyed this post? Share it!

 
 

The ruling party moves for land, and the Reserve Bank

The ANC will seek to amend the constitution of the country to allow for expropriation of land without compensation and will also nationalise the South African Reserve Bank, the party announced on Wednesday night. The contentious announcement was made just before the close of its 54th national conference on Wednesday night. The sectoral commission on […]
Continue reading…

Enjoyed this post? Share it!

 
 

ANC Instructs Government To Start Nationalizing Reserve Bank

The ANC has instructed the government to begin the process of nationalizing the South African Reserve Bank. The final decision on the matter was taken at the national conference of the governing party on Wednesday‚ which would see government owning 100% of the bank’s shares instead of the current arrangement where these are held by […]
Continue reading…

Enjoyed this post? Share it!