A service provider that hosts and manages the back-end ongoings of the ANC website has shut down the ruling party’s page. The claim is that the party that is led by President Cyril Ramaphosa has not been able to pay for their services. Thus, it has accumulated R32.5-million in debt. The ANC has been given..
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ANC’s formal website is shut down for the ruling party has not been paying for their services and owns R32.5-million in debt
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Fraud and theft behind SAA bankruptcy – SAA’s debt is currently R15 billion more than its assets, and banks will no longer lend the airline any money
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While the airline is required to present its financials by the end of the month, it cannot do so as it’s technically bankrupt. A report in The City Press on Sunday documents the massive financial problems of state-owned airline South African Airways (SAA). According to the report, SAA’s debt is currently R15 billion more than..
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Soweto residents refuses to pay for electricity and owe Eskom R15bn in unpaid bills
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Soweto residents owe Eskom R15-billion in unpaid electricity bills – the same amount that close to 60 municipalities combined also owed the utility. Eskom said most Soweto households don’t pay for electricity and were resisting the installation of prepaid meters, leaving it with a headache. Eskom spokesman Khulu Phasiwe said: “The solution for Soweto needs..
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Cash strapped state airline SAA goes on spending spree
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Struggling state airline SAA is splurging millions on executives and consulting firms in a spending frenzy that has been described as “worrying”.
Its recently appointed chief executive, Vuyani Jarana, has said the increased expenditure is necessary to address a severe skills shortage.
The Mail & Guardian has established that SAA, which last week received yet another R5‑billion bailout from the treasury, is paying R25‑million to Deutsche Bank in a deal to analyse its financials and restructure its debt.
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Total collapse of state-owned enterprises under Minister Brown
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The Democratic Alliance’s Natasha Mazzone has, once again, slammed Minister of Public Enterprises, Lynne Brown. Eskom remains in the spotlight. The Democratic Alliance’s Shadow Minister of Public Enterprises Natasha Mazzone has become quite a political “big name” over the last few months. Her grilling of Lynne Brown during the Eskom inquiry gathered particular attention. Now,..
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