The wastage of money by the ANC reached another “highlight” with the announcement that millions of rands had been given to the liquidated Youth League to write off their debt. The amount involved is and will probably remain unknown but there is talk of “millions”. The ANC will also further fund the Youth League so..
Continue reading…
ANC gives millions to Youth League even though they themselves are technically bankrupt according to Treasurer General
Posted on Leave a comment
Soweto owes Eskom more than R17 billion, still receives free power – culture of non-payment has now become a legacy of the ANC struggle
Posted on Leave a comment
According to a report by the Gauteng Department of Cooperative Governance and Traditional Affairs (CoGTA) submitted to the Gauteng legislature’s CoGTA committee, Soweto owes Eskom more than R17 billion, which is half of the country’s debt to Eskom. The information came to light last month when a FF Plus spokesperson, Amanda de Lange, announced it..
Continue reading…
Eskom’s municipal debt rises to R23.5 billion – Lets face it! Management and board of directors do not possess management skills to run this entity
Posted on Leave a comment
Eskom’s inability to function effectively has again emerged with the latest financial information released. Municipalities already owe Eskom R23.5 billion, according to the report released by Minister Pravin Gordhan. The disclosure shows that the debt to be paid to Eskom is still rising, and is a sign that the entity is not prepared to set..
Continue reading…
Eskom – in return for R59bn bailout from National Treasury, Eskom must recover Soweto, municipal debt
Posted on Leave a comment
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…
Eskom drowning in debt, will need R69 billion to service its overflowing liabilities
Posted on Leave a comment
Eskom chairman Jabu Mabuza during the power utility’s annual financial results presentation on November 28, 2018 in Johannesburg, South Africa. During the presentation, it was revealed that Eskom’s debt service costs have doubled in a one year to R45bn. Jabu Mabuza addressed the Portfolio Committee on Public Enterprises on Wednesday and announced Eskom is owed..
Continue reading…
ANC regime threatens financial survival of SA, Government debt increases every day
Posted on Leave a comment
The ANC government is extremely dangerous and threatens the financial survival of South Africa, as its eagerness to lend remains unsaturated. This is the opinion of an economic adviser following the SA Reserve Bank’s announcement that government debt is rising faster than provided by any institution. The government’s total loan debt has risen to a..
Continue reading…
ANC regime gets billed for R100m for 35,000 election posters – The taxpayer will probably now have to shake his pockets to pay the bill?
National Treasury gives SA Express a R300 million bailout
Posted on Leave a comment
The National Treasury has just announced that it has committed R300m to drag the bankrupt SA Express airline of its financial difficulties. The company’s Chief Executive Officer, Siza Mzimela, disclosed the information to the media. The airline company needs the R300m guarantee to keep its wings up and does not have the ability to obtain..
Continue reading…
Pay back the money Zuma! – Nkandla in VBS liquidators’ vision – cough up R7m or lose Nkandla
Posted on Leave a comment
The ANC’s Jacob Zuma is in a big financial crisis with his multi-million Rand loan he received from bankrupt VBS Mutual Bank and now has to pay back the money. Along with that, there are the million Rand court costs to be paid while more court cases are being filed in an effort to be..
Continue reading…
Bankrupt Eskom pleads for another government bailout as debt climbs beyond R450bn
Posted on Leave a comment
The power utility’s debt is reaching levels beyond R450 billion and Mabuza was in Parliament on Tuesday asking government for more money. Eskom CEO and board chairperson Jabu Mabuza said the power utility’s debt levels have reached the ceiling. Eskom’s debt is reaching levels beyond R450 billion and Mabuza was in Parliament on Tuesday asking..
Continue reading…
It would take the ANC a thousand years to pay off debt if they were able to repay R100 per second
Posted on Leave a comment
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..
Continue reading…
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
Posted on Leave a comment
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.
Continue reading…
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
Posted on Leave a comment
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…
Parasitic Parastatal Eskom, is holding the ANC hostage. Demands funds or else the whole of SA will suffer without power
Posted on Leave a comment
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..
Continue reading…
State Treasury plundering continues – your tax money will fund Eskom with a further R59bn
Posted on Leave a comment
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…