South Africa’s state arms company, Denel as requested a R2.8-billion ($200-million) bailout from government. Denel was once part of the country’s thriving defence industry but like many other state owned entities was mismanaged and affected by corruption during the former president Jacob Zuma years which lead to a financial crisis. CEO Danie du Toit was..
Continue reading…
ANC-regime stretching public finances by issuing bailouts to keep bankrupt SEO’s afloat – Denel requests a R2.8bn bailout from government
How much taxpayers money has been thrown into SAA’s black hole to stay afloat?
Posted on Leave a comment
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…
Just something to think about with regards to SA taxes that will leave you shocked!
Posted on Leave a comment
Taxpayers should not foot the bill for ANC government’s failures. We need to look deeper into our system of government, and how we allocate risk and reward, responsibility and accountability. At this moment, if you earned R100, you pay R33 income tax. You are left with R67. You buy R67 worth of fuel, pay 48%..
Continue reading…
Another bottomless-pit namely the SABC, were given three months to live as government cuts cash injections
Posted on Leave a comment
Unfortunately for the SABC, and its large low-level employee base, the government is now taking a hard-line approach to bailouts.
Continue reading…
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
Posted on Leave a comment
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..
Continue reading…
After a Quarter Century of Black Rule in SA, “Blacks” Still Blame “Whites” For EVERYTHING! When will blacks appropriate accountability, responsibility, duty and honour?
Posted on Leave a comment
Despite being in charge and control of everything from Taxes, Budget, Finance, Police, Army, Hospitals, Roads, Municipalities, Councils, Parliament, Judiciary, Customs, etc. etc. the black majority government in South has been unable to do anything more than consume the wealth that whites created prior to 1994.
Continue reading…