The state-owned bus company Northwest Transport Investments, which transports more than a million people a day, is seeking a bailout of R350 million. The transportation of hundreds of thousands of commuters mainly in the North West and Gauteng provinces and more than 1,600 jobs are at risk due to the financial distress of parastatal Northwest..
Continue reading…
State-owned bus company seeks R350 million bailout
Enjoyed this post? Share it!
#ParasiticParastatal Another 59 Billion Bailout Has Just Been Granted To Mismanaged & Corrupt Eskom Gravy Train
The National Assembly voted in favor of a special allocation bill on Tuesday that allows a bailout of R59 billion to struggling Eskom. The bill was approved by 200 votes to 105 with ANC MPs believing the bill is essential to keep the lights on. These MPs argued that many of them grew up in..
Continue reading…
Enjoyed this post? Share it!
ANC regime just cant resist the old folks money – State still wants to use pensioners funds as a bailout for bankrupt SOE’s
The PIC group announced that they will meet in November to consider options to help the bankrupt state entity Eskom with its debt. Pensioners were given the assurance that the value of pensions would not be “wasted”. PIC already carries almost R90 billion of Eskom’s debt and more than one million public servants’ pension is..
Continue reading…
Enjoyed this post? Share it!
Eskom – in return for R59bn bailout from National Treasury, Eskom must recover Soweto, municipal debt
National Treasury is set to impose 28 conditions on Eskom in return for a R59bn lifeline to keep the cash-strapped power utility afloat and enable it to pay interest on its mounting debt burden. Treasury updated Parliament’s appropriations oversight committee on the conditions attached to an appropriations bill on Wednesday. The bill, which has not..
Continue reading…
Enjoyed this post? Share it!
Bankrupt SABC gets R2.1 billion bailout to continue mismanagement, CEO receives excessive amount of R3.9 million for 9 months of work
Communications Minister Stella Ndabeni Abrahams has just announced that the SABC will receive R2.1bn as part of a R3.2bn bailout. The ANC regime is pumping billions of rand into the ineffective SOE and has now been warned that no further aid will be provided. The struggling national broadcaster once again got money from the state..
Continue reading…
Enjoyed this post? Share it!
Government employees face 10% salary cut to fund crippling Eskom since National Treasury’s box is empty
National Treasury director-general Dondo Mogajane has said that the best way to fund the bailout of failing state-owned enterprises could be to cut the salaries of all government employees by 10%, according to a report in the City Press. The government has to find a way to close a R120-billion hole in its budget, which..
Continue reading…
Enjoyed this post? Share it!
Cash strapped Denel asks ANC regime for cash injection of R2.8 billion to pay employees salaries and remuneration
Weapon manufacturer Denel is one of several state-owned enterprises (SOEs) found amid allegations of corruption and statecapture. The entity finds itself in a deep financial crisis and was forced to ask government for a R2.8 billion bailout to pay suppliers and outstanding salaries. Public Enterprises Minister Pravin Gordhan announced that the company, with the help..
Continue reading…
Enjoyed this post? Share it!
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
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..
Continue reading…
Enjoyed this post? Share it!
State Treasury plundering continues – your tax money will fund Eskom with a further R59bn
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..
Continue reading…
Enjoyed this post? Share it!
Funds allocated to Prasa will now be used to bailout failed Sanral e-toll systems
The “state” is presenting new legislation which will mean that funds allocated to Prasa will be transferred to bailout the failed Sanral e-toll system. R2 billion is allegedly involved in the transfer after R 3 billion of Prasa money was already transferred to Sanral in 2018. Transport economists believe this is a step in the..
Continue reading…
Enjoyed this post? Share it!
SA faces rating crisis due to ANC-controlled Eskom’s gross debt of more than R440bn – How will Ramaphosa overcome this problem without abusing public funds?
Despite the R230 billion bailout the ANC president promised to Eskom over the next ten years, they are now asking the government for further assistance. At this stage, it appears that the government is going to trade Eskom’s debt for government bonds or through the creation of a special account. According to the Treasury, the..
Continue reading…
Enjoyed this post? Share it!
ANC regime is going to throw more money funded by taxpayers into the bottomless pit of Eskom, amounts are unknown
Amidst many promises and assurances before the general election, the lies have triumphed again, as Eskom seems to be getting more money from the government. Stubborn reports indicate that an Eskom delegation has visited the ANC’s president, Cyril Ramaphosa, and some of his cabinet members, and talks have been held in Genadendal. Unconfirmed reports state..
Continue reading…
Enjoyed this post? Share it!
SABC a sinking ship in a tide of debt – Need R3.2bn bailout to stay afloat
Faced with an unenviable choice last month – either cough up to service its eight-figure municipality account, or settle the salary bill, the SABC took the high road and paid its staff. And while the lights are still on in Auckland Park, for now, anyway, the broadcaster is desperately hoping a R3.2bn government guarantee will..
Continue reading…
Enjoyed this post? Share it!
How much taxpayers money has been thrown into SAA’s black hole to stay afloat?
Billions and billions have been thrown at The South African Airways (SAA), but the airline don’t have much to show for it. It’s hard to recall a time when the limpest of all our state-owned entities was successful on its own two feet. It has a history of relying on fiscal interventions, needing contributions from..
Continue reading…
Enjoyed this post? Share it!
Economic recession awaits SA due to poor performance of the rand and begging mentality of state entities
South Africa’s economy is plunging into an abyss, and the recession looms on the doorstep of SA’s door. This is the opinion of an expert in Pretoria following the extremely poor performance of the rand and the begging mentality of state-controlled companies. The latest plea from the SA Airways, asking the ANC-regime for a R4..
Continue reading…
Enjoyed this post? Share it!
Dating SA
Submit Stories
Internet Florist
Instant Loans
Qatar Airways
Recent Posts:
- New Afrikaner Boer Struggle Song released: “Net Ons Riviere Loop Vry” October 18, 2024
- Why We Can’t Have Nice Things: African Abuse of Visa Free Travel Force Ireland & UK To Implement Visa Requirement July 9, 2024
- Cancel Season Again? Youtube Deletes 10 Year Old Channel With No Warning, No Strikes, No Opportunity To Respond! June 29, 2024
- Expressing support for the Boer cause in the unholy hellscape of South Africa has serious consequences. February 14, 2024
- (no title) October 1, 2023
- Why Should Building Project Owners Hire Architecture Firms? November 18, 2022
- Giorgia Meloni, “Italy’s Trump”, Favoured To Become First Female PM in Coalition with Salvini & Berlusconi September 23, 2022
- Studies Show Online Dating has Shaken off the Old Stigma and is Fully Mainstream Now! August 30, 2022
- VIDEO: PROOF MSM & Big Tech Stole US Election With Censorship! 17% Biden Voters REGRET Vote – Would NOT Have Voted Biden Had They Known About Biden Scandals! August 30, 2022
- The Best Indoor Home Security Cameras for 2022 August 19, 2022
- Are Globalists Planning to Charge us to Breathe? What is your breath worth? August 14, 2022
- SA Farmers Next? Ireland also Attacks their Farmers, Like the Netherlands, Germany and Canada! August 4, 2022
- SAAI Discloses Land Claims Database Online! Files Contempt of Court Against Agriculture Minister Thoko Didiza July 29, 2022
- Globalist Campaign Painting Farmers as “The Enemy of The State”, Strikes The Netherlands & Belgium July 17, 2022
- Petition: Make Peace NOT War! Invite both Ukraine & Russia to join NATO & EU to ensure lasting peace! February 27, 2022
- Young South African Jailed for Life in Thailand after Signing for Parcel Containing Drugs, Addressed to her Employer! February 19, 2022
- #InterNazi – Will Hitlerisation of Putin backfire and expose the InterNational Socialist’s deceit and treachery in WWI & II? February 14, 2022
- Send Valentine’s Flowers & Gifts to Your Loved One Online Today! February 7, 2022
- IMF & World Banksters used ANC & “anti-racism” to Trick South Africa into Permanent Debt Slavery! December 11, 2021
- #HolodomorDenial: the Genocide of 7 Million Ukrainians, Many of them Christians, That Jews Deny… November 28, 2021
Search SA News
News Headlines
Links
- C.V.co.za
- Yell.co.za Free Ads
- BokWeb Hosting
- SpeedDating.co.za
- The Cape
- SAFFA.com
- Dating South Africa
- SA-Radio.com
- MedSure
- Health
Topics:
Buy Groceries Online for Delivery!
Cheap Travel Deals
Subscribe for Free South Africa News
Search SA News Headlines
Yell Dating Online
Samsung Phone From R99
Teach English
Come Chat Online!
Accommodation Deals
Yell.co.za New Listings
Kaspersky Antivirus
Gratis Aanlyn Winkels!
Cheap Flights @Sky.co.za
Find a Hotel:
Roulette AI
Share and Follow SA-News on Social Media:
Follow @SAnewscom on Twitter
SAFFA.com News
- Eksklusief! Nuwe Afrikaanse Enkelsnit: “Net Ons Riviere Loop Vry”
- Why We Cannot Have Nice Things: African Abuse of Visa Free Travel Force Ireland & UK To Implement Visa Requirement
- Sickness Doesn’t Take a Vacation: 7 Steps to Managing Illness While Travelling
- Prankster Tricks London Gatwick Airport Passengers into Thinking They Were Landing at London Luton Airport!
- SAAI Discloses Land Claims Database Online! Files Contempt of Court Against Agriculture Minister Thoko Didiza