Julius Malema leader of the Economic Freedom Fighters reportedly urged Standard Bank an “ultimatum” to only fire non-black employees especially white. “If Standard Bank want to retrench a thousand employees it is fine but no black person should be fired. Black unemployment is very unacceptable as it is and we wouldn’t like to add more..
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Juju asked Standard Bank to fire only white workers, and what do you think is going to happen:- Maybe WHITE people should boycott this institution
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VBS Bank’s ghost walks in Venda – king of Venda, also had money invested at the bankrupt VBS Mutual Bank, and now he has to repay R17 million
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Toni Mphephu Ramabulana, the king of Venda struggles to survive after an appeal court case that ordered him to repay R17 million to VBS he had previously received from the bankers. King Ramabulana and about 50 shareholders businessmen, politicians, and traditional leaders are accused of enjoying unauthorized benefits from the bankrupt VBS Bank. The VMS..
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‘Open your brain first before opening your mouth,’ says Mboweni to Masina in a heated debate over nationalisation- The finance minister believes the mayor was commenting on topics he has no in-depth knowledge of
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Following a 702 headline stating that finance minister Tito Mboewni is set to introduce a bill paving the way for the creation of a state-owned bank in competition with private sector retail and commercial banks, Mboweni and the executive mayor of the city of Ekurhuleni, Mzwandile Masina, got into a heated debate over nationalisation. The..
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The ANC targets Reserve Bank mandate, they want a more flexible monetary policy
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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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Black banks in SA are struggling for survival – VBS Bank is going down the same path as the failed African Bank
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It seems that the black banks are struggling for survival and eventually will sink while many clients and investors will lose money. Four years after the collapse of the African Bank, the bank could only pay R1,1 billion to his creditors while an amount of more than R9 billion was payable. According to the latest..
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The gravy train were properly exploited at the VBS bank- ANC treasury general received R1.5m gift
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Evidence in the Supreme Court shows that the ANC’s Limpopo Treasury General, Danny Msiza, received R1.5 million via an intermediary. The intermediary facilitated the “investments” of multi million rand from municipal accounts to VBS bank. A R9,5 million mortgage from Msiza’s company on a property in Pietersburg is also apparently paid by VBS Bank. It..
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Goodnews, SA is out of recession: Four factors which ignited the economy
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After slipping into a recession at the start of September, Mzansi has made an instant recovery. The country’s GDP has risen by 2.2% in three months.
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The dismissal of seven ANC mayors from the Western Transvaal who was apparently involved in VBS Bank scandal, will not save the province since it is ruled by corruption and incompetent leaders
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The ANC has fired seven mayors in the Western Transvaal, four of which were involved in the VBS Bank investment scandal. Madibeng, Moretele, Mahikeng and Dr Ruth Momphati municipalities mayors were fired with immediate effect. In addition, Kagiso-Molopo, Mamusa and Maquassie-Hills mayors were called back to restore service delivery and confidence in the ANC. Political..
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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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Racial discrimination: South-Africans can now get free shares in Discovery Bank by depositing money with it – that is of course only if you are Black!
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Discovery Bank will give up to 10% of its shares to black depositors in an empowerment scheme, the Discovery group announced on Wednesday. The shares will be vendor-financed, and so risk-free. The details of how they will be allocated are still being worked out. The plan is for up to 10% of the shares in..
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The truth uncovered! – Communist ANC received R2 million as a donation from VBS Mutual Bank
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The media claims that the ANC received R2 million as a donation from VBS Mutual Bank’s. The communist ANC responded by saying that they are only aware of a R250,000 donation to buy a table during the party’s birthday. Observers states if what appeared in the media is indeed true, the money must be refunded…
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Wealth advice to South Africans: ‘invest as much of your money elsewhere’
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South Africans are daydreaming their way to a poorer future by keeping too great a portion of their investments in the country – despite massive underperformance of JSE indices, falling real house prices and a future which looks equally bleak for those trying to grow or even just preserve their wealth. This is according to..
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A TYPICAL SOUTH AFRICAN BRAIN TEASER – how are they going to spin the VBS bank debacle in such a way that the white man is to blame for all of this?
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Black people in South Africa are poor, uneducated and unemployed. The EFF says it is because of “white monopoly capital”. The ANC says it is the result of “apartheid”. Mmusi Maimane of the DA blames “White privilege” – all just variants of the same thing: Blame the 8% politically powerless white minority. So, now to..
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VBS Mutual Bank fires workers – staff members are now being penalized for actions that was made by the bank’s corrupt management and directors
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VBS Mutual Bank has fired 94 employees, leaving the bankrupt bank with 26 staff members. Nearly R2 billion has been deceptively paid to individuals and institutions, especially officials from municipalities who have insured that funds are invested at the bank. Branches are closed and only Thohoyando and Makhodo branches will operate. The dismissed workers are..
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The Rand is firm for now, but Moody’s delays ratings move!
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The rand strengthened further on Monday after Moody’s Investors Service held off on its ratings review of South Africa on Friday.
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