The pension pot in South Africa, one of the largest in the world, could be under threat as government, whose debt is growing every year, looks for new funding sources. IF THIS HAPPENS THERE COULD BE DEVASTATING CONSEQUENCES. This according to the Institute of Race Relations (IRR), which warned of a threat by government to..
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SA pension pot under threat as government, whose debt is growing every year, looks for new funding sources as taxpayers could no longer be squeezed for more money
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Widespread corruption and mismanagement are the order of the day at KZN municipality – Eskom debt amounts to nearly R50 million – Municipalities under the control of the ANC are folding, one after another
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The ANC’s “policy” to make the country ungovernable is producing vigorous fruit. The Abuqulusi municipality (Vryheid) owes Eskom just short of R50 million. Widespread corruption and mismanagement caused the council to be placed under administration. Suddenly, the Natal Department of Co-operative Awakened Government and Traditional Affairs and stated that they were “stunned” about the state..
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Economist says Zuma government cost taxpayers about R470bn – What a waste of good money!
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Nedbank chief economist Dennis Dykes says the Zuma regime has cost South Africa R470bn. Dennis Dykes says they have done a thorough calculation that is South Africa’s loss due to corruption, maladministration and distorted policies in Jacob Zuma’s second term. He says there was an estimated loss of R140bn due to taxes lost and now..
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SA’s largest township owes Eskom R17 billion – Soweto residents respond: Hell no, we won’t pay for electricity!
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City Press visits Soweto and asks residents why they don’t pay for their electricity and how they could help Eskom to recoup the R17 billion owed by the people who live in SA’s largest township. On Wednesday morning, as load shedding hit the township of 1.3 million residents, small businesses were losing money, and children..
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Soweto owes ESKOM R 17 billion, half of the total national debt – Just cut their bloody electricity to this township!
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ESKOM is desperately trying to recoup money owed by municipalities – Soweto, in particular, is making that task all the more difficult. ESKOM, South Africa’s national electricity provider, had an exceptionally shocking year in 2018. Financial losses reached dismal new depths. Irregularities, both fiscally and operationally, left the state owned enterprise floundering in the doldrums..
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Eskom’s prior request for tariff hike slammed: Eskom’s stage 4 load shedding is a direct attempt to sabotage, and blackmail SA – Ordinary citizens are becoming the scapegoat to foot the bill of its complete and utter failures and lack of planning
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The South African Communist Party says Eskom’s management is rolling out massive blackouts in an attempt to blackmail South Africans to accept privatisation of the power utility. Eskom resumed with loadshedding for the first time this year on Sunday. Power cuts continued yesterday and Tuesday after a failure of generating units. “The management of Eskom,..
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A tale of two (broken) cities – Mahikeng, the former pride of North West for its cleanliness and progressive policies, is now overrun with potholes, refuse and debt thanks to the ANC-regime
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Mahikeng, the former pride of North West for its cleanliness and progressive policies, is now overrun with potholes, refuse and debt. Driving is a gamble and drinking tap water is an extreme sport. Mthatha is much the same. MAHIKENG A song cut from one of motswako rapper Mo’ Molemi’s albums could provide the best evidence..
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Soweto owes Eskom R17 billion, half of the total national debt – Still the lights or on! But if citizens residing in towns do not pay their municipality bill the electricity gets disconnected without hesitation
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How is Eskom going to increase its financial yield while still struggling to retrieve the R34 billion it is currently owed by defaulting municipalities? Eskom is desperately trying to recoup money owed by municipalities – Soweto, in particular, is making that task all the more difficult. Eskom, South Africa’s national electricity provider, had an exceptionally..
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South Africa Considers Handouts To Help Zimbabwe With Trouble Caused By… Handouts!
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The spiraling economic meltdown in Zimbabwe has prompted South African authorities to think about extending short-term credit to Harare and helping it to write off a $7.4-billion external debt. In an interview with the Daily Maverick newspaper, South African Finance Minister Tito Mboweni said the two governments were discussing ways to settle Zimbabwe’s debt to..
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Desperate times calls for desperate measures, but is this the right thing to do? After all financial losses occurred due to incompetence, negligence and corruption – SAA is borrowing R3.5bn from local banks
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South African Airways (SAA) received a R3.5bn loan to keep it going until the end of March. This forms part of the R21,7 billion SA management believes is needs to make its turnaround strategy succeed. SAA spokesperson Tlali Tlali confirmed the R3,5bn was received from local banks. This comes after National Treasury gave R5bn to..
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All Eskom wants for Christmas is a R100bn government bailout and therefore South-African citizens must suffer with continuous loadshedding
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The struggling power utility wants the state to absorb its debt in a move that would likely be good for them but bad for our credit rating. As South Africans grapple with festive-season load shedding, our embattled national power utility, Eskom, is trying to find ways to keep the lights on while operating with billions..
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National power provider Eskom’s is under extreme high financial pressure and debt heads towards the R550 billion mark – wonder if this state entity is going to blast Millions of taxpayers money on bonuses this festive season even though they are cash strapped?
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Eskom chairman Phakamani Hadebe says the power provider is under extremely high financial pressure. According to him, Eskom’s debt will continue indefinitely for the next few years, with the possibility that it may increase from R400 billion to R550 billion. The chairman is also not afraid to admit that the dramatic rise in the foreseeable..
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President is gallivanting throughout the world while violence, protests, murder, strikes are on the order of the day and SA’s debt is getting bigger – wonder if he would repeat his lies on farm murders in SA overseas
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Municipal and city council debt to Eskom is in an upward spiral with the latest figures of R17 billion by the end of September. The same pattern is found at the various waters where little progress is made with debt collection. A number of recommendations have been made but no decision has yet been taken..
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Harsh reality – Only ruins and tree trunks left of show farm after disastrous land reform process
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A once flourishing grape and citrus farm of 480 hectare in Limpopo has been reduced to ruins, and chopped orange trees which were used for firewood. This is the sad reality Solidarity encountered during a visit to the dilapidated Sunningdale farm, which is located between Mokopane and Polokwane. In 2010, the farm was transferred to..
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Is that so? – South Africans not paying TV licenses blamed for collapsing the SABC
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According to Deputy Communications Minister Pinky Kekana, an SABC TV license is great value for money. Deputy Communications Minister Pinky Kekana has called on South Africans to pay their TV licenses in order to save the SABC from complete financial collapse. Kekana made her impassioned plea before Parliament’s communications committee on Tuesday. The Deputy Minister..
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