When Finance Minister Tito Mboweni on Tuesday told MPs government would have to review its funding requirements, he put into financial jargon that, actually, South Africa’s running out of money. And Eskom is to blame, in the main. Bluntly put, Tuesday’s Special Appropriation Bill is scraping together R59-billion extra for Eskom — that’s in addition..
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Parasitic Parastatal Eskom, paralysing SA as the country runs out of money. Unless considered action is taken, not just talk – South Africa remains on the brink of destruction
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SA economy taking a dip since all the big guns are pulling out of South Africa caused by political climate – Whirlpool is the next one out taking nearly R1 billion hit in the process
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Appliance maker Whirlpool South Africa, which is also responsible for the Indesit, Ariston, and KIC brands in South Africa, has been sold. On Tuesday the local operation confirmed an agreement had been entered into at the end of June, and said it expects the sale to close in the third quarter – after its parent..
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Rand value expected to crash in next 12 months – No doubt that ANC-regime is responsible for this predicament
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The South African rand lost 30% of its value within 12 months after the start of each of the last four US rate-cutting cycles and 40% of its value within 15 months. The start of a US rate-cutting cycle, combined with other global conditions, could have serious implications for the rand, says currency strategist at..
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The ANC’s R80 million failure – 13 ‘unused’ Prasa trains, manufactured by the Spanish company under the hammer, because it’s too big for SA rail specifications
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Thirteen locomotives ordered by Prasa from Spanish manufacturer Vossloh Espana will be auctioned to the highest bidder in early September without any of the locomotives being used by Prasa. Already in 2015, the locomotives were found to be too large for South African rail specifications. More than R80 million has been channeled to Maria Gomes,..
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Parasitic Parastatal Eskom, is holding the ANC hostage. Demands funds or else the whole of SA will suffer without power
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If there is no funding, there will be no change, and the ANC regime will be guilty party because he made the appointments in the power utility’s senior posts. This is the opinion of a political analyst after Finance Minister Tito Mboweni announced that Eskom needed R59bn to remain operational. The minister announced in Parliament..
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ANC-government wants to close down about 3,000 schools’ doors due to a reduction learner numbers
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The Department of Basic Education is aiming to close a few thousand schools due to the reduction in student numbers. The schools that are affected the most in the country have apparently received notice that a certain number of pupils are required to keep a school’s doors open. The majority of schools are located in..
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More than for R376 million that has been spent so far on the Evaton Renewal Project cannot be accounted for – We know where it is! Probably stolen by ANC-cadres
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EVATON – The Democratic Alliance says the Gauteng Human Settlements and COGTA MEC, Lebogang Maile, has failed to account for R376 million that has been spent so far on the Evaton Renewal Project (ERP) in the Emfuleni Local Municipality. In a reply to questions in the Gauteng Provincial Legislature from DA Emfuleni Constituency Head, MPL..
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3 Farm Murders in 22 Farm Attacks for July So Far – Yet Still ANC Denies That #FarmMurders and Attacks Are A Reality!
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Twenty two farm attacks and three farm murders have taken place in South Africa in the first half of July 2019. There were 34 farm attacks and 6 farm murders during June 2019 and 184 farm attacks and 20 farm murders between January and May 2019. The crisis is escalating!
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State Treasury plundering continues – your tax money will fund Eskom with a further R59bn
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Eskom will receive a further R59bn bailout over two years from the government to keep the bankrupt power provider standing. This follows the R69 billion already approved for a three-year period. Eskom’s debt currently amounts to R440bn and is considered the biggest risk to the South African economy. How much money is still to be..
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Constitutional Court says Public Protector is incompetent for her post
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The Legal Practice Board was requested by Accountability Now (AN), a non-profit organization, to remove the name of the Public Protector (PP), Busisiwe Mkhwebane, from the advocates. It follows the Constitutional Court’s ruling that she had acted and lied under oath. Adv Paul Hoffman, a director at AN, said in a letter to the Legal..
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Billions of Rands are taken out of SA because of the ANC regime’s inability to manage country effectively
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South African property companies are currently taking billions of rands across the country by making investments overseas. This is due to the poor economy, increased municipal rates and taxes, as well as political uncertainty in the sector as well as fears of expropriation without compensation. Investments overseas in 2018 were almost four times more than..
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ANC stalwarts reacted to Zuma’s haunting week at the State Capture Inquiry: “He’s a spineless thug”
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Former president Jacob Zuma may have dug his own grave with his antics at the State Capture Inquiry. His own brotherhood of ANC cadres has turned against him after he made startling allegations about some of them. In what turned out to be one of the most dramatic weeks of deputy chief justice Raymond Zondo’s..
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Modise finally appeared in court for first time after 160 animals on her farm had to be euthanized in 2018 due to lack of care
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Speaker of Parliament, Thandi Modise, finally appeared for the first time at the Potchefstroom Regional Court, in the North West, to answer to a case related to animal cruelty charges that were laid against her, by AfriForum, in 2018. Why AfriForum took Thandi Modise to court The lobby group was approached by the National Society..
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Ramaphosa: BBBEE will not be scrapped – too many black people have benefited from this policy for it to be scrapped
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President Cyril Ramaphosa says Broad Based Black Economic Empowerment (BBBEE) will not be scrapped. He was replying to a call by Democratic Alliance leader Mmusi Maimane to stop BBBEE during Thursday’s debate of the Presidency’s budget vote in the National Assembly. Ramaphosa says while redress is slow, too many black people have benefited from this..
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Mboweni’s truths: We are bankrupt and people will lose their jobs – If you ever doubted that South Africa’s economy was in deep, deep trouble, doubt no more
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There is a line in Finance Minister Tito Mboweni’s brutally honest 2019 Budget Speech that I can’t get out of my head. “We are borrowing R1.2bn a day.” Read that again. Let it sink in. If you ever doubted that South Africa’s economy was in deep, deep trouble, doubt no more. Some perspective: R1.2bn is..
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