Political analysts say the actions of high-ranking officials in Eskom could lead to the demise of the ANC government. The pressure is mounting on the ruling ANC regime from the inner circles as well as opposing structures as well as from extreme groups to act against those responsible for the mess in which the power..
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Eskom with a debt burden of R450 billion may be the downfall of ANC regime
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Zuma in the last trench – application for appeal rejected
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After the Pretoria High Court rejected former ANC President Jacob Zuma’s application for appeal with costs, he is now on his way to the Appeal Court. It is Zuma’s last trench he uses to stay out of jail, and although it is a method of escaping his final trial, the debt burden on court costs..
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Medupi still not complete after 12 years – It is a wonder that they haven’t blamed old Jan yet!
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Eskom says the Medupi power station’s Phase 2 stage is in operation, making it part of the power supply’s overall electricity output. The announcement comes 12 years after the first donation was made to set up Medupi, but during that time, South Africa paid much more for the erection than initially budgeted. In addition to..
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SAA: More unions want to strike after Gordhan’s attempt at wage and severance dispute fails
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In support of Numsa’s strike, and in opposition to the view of ANC minister Pravin Gordhan, more unions have indicated that they will join the strike. The circumstances in which SAA currently finds itself have left the state-controlled entity in unsustainable status, and the entry of Pravin Gordhan has increased the bitterness and power building..
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Ramaphosa plans to pay Eskom’s R440bn debt burden off but no one knows how
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The ANC president’s plan to get Eskom out of the mess has yet to come to light and is apparently a state secret or no such plan at all. That’s the opinion of an expert in Pretoria who set his sights on the president’s promises that never come true, he said. The Ramaphosa plan to..
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Ramaphosa on begging mission in London to save corrupt & mismanaged SA from economic ruin. How much will #BlackPrivilege score this time?
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ANC President Cyril Ramaphosa is on yet another begging mission to London in an effort to prevent the bankrupt South Africa’s “economic downfall” which in truth is caused by mismanagement, corruption and downright blatant ransacking of the treasury by the ANC, the darling of The West. How will new UK PM Boris Johnson react? The..
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Businesses go bankrupt in SA – Not only Edcon is struggling to keep head above water, many companies are closing their doors and causing unemployment
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It is not only the Edcon clothing industry that is struggling, as many businesses have had to close their doors in recent months. This is a far darker picture than Edgars had managed to get a loan to relieve his debt burden and retain his staff. Edcon would not have been able to smoke the..
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It would take the ANC a thousand years to pay off debt if they were able to repay R100 per second
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The state’s ability to pay off its debt seems almost impossible. According to Center for Development and Enterprise (CDE) spokeswoman Ann Bernstein, it would take the state 1,000 years to settle its debt if they were able to repay R100 per second. The gap between income and expenditure since 2009 is the main reason for..
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ANC-regime drowning in debt -, domestic debt burden exceeds R7 billion and all this for SOE bailouts
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The ANC government is drowning in debt, and its domestic debt burden is a disgrace that is inexcusable but also remains unacceptable. The state owes businessmen in the country more than R7bn, and the foreign debt burden causes the country to receive junk status. Gauteng is believed to be the biggest offender with a debt..
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Ramaphosa approved new law that frees debt burden of millions of people – however, it is speculated that whites will be excluded from new legislation once again
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The new law, which has just been passed by parliament, could mean that almost 10 million people’s debts may be written off. The law, which is seen as a benefit of predominantly black people, who incurred debt while their income is such that they cannot pay the debt, was of particular concern to the bankers.
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Cash strapped Eskom left red faced after court bans 3-year contract of R350 million for lubricant purchase
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Eskom was banned from awarding a contract that would be valid for three years, amounting to R350 million. The contract involves the purchase of lubricants for use at its various power plants, but the judge banned it because Eskom did not comply with its own procedure or that of the government in awarding contracts. The..
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SA currency now worst in the world – ANC the guilty party for display because of land expropriation policy, corruption and fraud as well as where internal fights are the order of the day
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The South African currency, the Rand, has reached its lowest level since September 2018. The state’s debt burden, Eskom’s inability and negative comments from potential downgrading agencies, are cited as reasons for the poor performance. Standard Bank’s Warrick Butler stated that the Rand is currently the poorest performer of all payment instruments worldwide. The Rand..
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Humour has it that ANC regime can reduce SA’s debt burden by increasing VAT to 20% – nobody is keeping pace with the fact that corruption are the cause of state debt
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The government should increase the VAT rate by at least 5% to reduce the debt burden in the provincial roads’ maintenance account which is now six times higher than the province’s expenditure. Reports indicate that the South African roads, which are in a dire state, are now desperately seeking funds since there is was already..
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Malema is thumped with debt mounting to nearly R1 million
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With the ruling in the High Court that the Malema group should pay R500,000 to former Minister Trevor Manual, the debt burden becomes almost R1 million to be paid. The EFF’s appeal has been turned down, and the civil rights organization must receive R200,000 for court fees, while another amount has yet to be determined..
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Municipal managers, which include a lot of technical bankrupt municipalities, now earn R3.9 million a year for doing nothing actually
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Municipal managers’ new salary structures have just come into force with the announcement that they will now “earn” R3.9 million a year. The second in command then gets about R3 million a year. In many cases, work is outsourced by several private companies, while officials do little work but still receive astronomical salaries. The huge..
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