If ever there was a business that should be a cash cow for the ANC government, diamond mining is it, well, maybe it is, directly into their back pockets! The ongoing weakness and current record low Rand value means record high prices for Alexkor’s diamonds, which come from a vast resource of 90-95% gem-quality diamonds which exists off the west coast of Southern Africa. In fact it is so precious the entire area is off limits to the public, yet still the ANC government manages to make it bankrupt? Alexkor joins the long list of almost every single other SOE going bankrupt, begging the question to be asked, whether this is deliberate?
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SOE Alexkor Goes Bankrupt! ANC Cannot Even Make Profit From Diamond Mining? Yet Again, The “Permanently Disadvantaged” Plunder The Golden Goose to Death!
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Despite Billions in Foreign Aid, ANC regime has plundered South Africa into bankruptcy over a 25-year period
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The extremely dire situation in which South Africa finds itself has raised the question of whether it is not yet time to make a survey of everything that has been destroyed in 25 years. A political analyst points out that the first red light came on when municipalities across the country, all of which had..
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A New Year & A New Decade: More Communist Self Enrichment, Globalist Destruction of Identity & The African Way. You AiNtCeen Nothing Yet!
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At the time of year that most people in South Africa break away for a holiday, (the lucky ones that is), or relax at home, it has unfortunately become necessary to burst a few bubbles and challenge the mainstream narrative. South Africa is teetering on the brink and staring into the abyss as it stumbles into oblivion in the new year and a new decade. Just how bad it will be will become clear soon enough. Let those with ears listen…
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14 SOEs rack up more than R1.4 billion in irregular expenditure
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Auditor General (AG) Kimi Makwetu said not one of the 14 big state-owned entities (SOEs) audited by his office received a clean audit, a poorer outcome than last year. Makwetu was revealing the results of the national and provincial audits for the past financial year at Parliament on Wednesday. He said the financial health of..
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Weapon manufacturer Denel has quietly acquired a contract worth R6.3 billion for the export of weaponry
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With the apparent initiative and guidance of the new chief of arms manufacturers, Denel, a contract has been entered into for the export of weaponry worth more than R6 billion. A spokesman for the manufacturer confirmed that a contract had been obtained but that the broader details of it had not yet been disclosed. The..
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Trade unions are rejecting ANC’s plans to sell non-performing SOE’s
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All indications are that the ANC is prepared to execute the Tito Mboweni plan and sell the non-performing entities. For the ANC it is like swallowing a prickly pear with thorns and all, because it is a testament to their inability to run certain entities profitably. The Ramaphosa government faces an enormous fiscal dilemma, and..
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Cash-strapped state arms company, Denel failed to supply R250 million worth of military Casspirs to the government of Chad after already receiving R100 million deposit
Thank you SA for voting ANC – SA is broke thanks to the thieving done by ANC cadres in government
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It’s official: the South African state is bankrupt. President Cyril Ramaphosa confirmed it three weeks ago when he responded to questions in parliament. Ramaphosa’s exact words were: “Our resources are now depleted.” In simple terms, this means the government has run out of money. In a normal country, such a statement by the head of..
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Taxpayers will now have to bailout the Ramaphosa regime after Moody lost patience with SA’s poor economic situation and proposes a tax increase
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The poor economic conditions, unemployment, little foreign interest, the land grab program, Eskom and other entities’ financial inability are all reasons why the country is in such a mess. Moody’s has pointed out to the ANC-regime that it will have to raise taxes to fix the mess at Eskom, which is the first step to..
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Cash strapped Denel asks ANC regime for cash injection of R2.8 billion to pay employees salaries and remuneration
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Weapon manufacturer Denel is one of several state-owned enterprises (SOEs) found amid allegations of corruption and statecapture. The entity finds itself in a deep financial crisis and was forced to ask government for a R2.8 billion bailout to pay suppliers and outstanding salaries. Public Enterprises Minister Pravin Gordhan announced that the company, with the help..
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ANC-regime stretching public finances by issuing bailouts to keep bankrupt SEO’s afloat – Denel requests a R2.8bn bailout from government
Ramaphosa rejects privatization of SOE’s although the whole lot is poorly managed by incompetent staff, and cost SA billions of rands
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President Cyril Ramaphosa has reaffirmed government’s plans to support ailing state-owned enterprises (SOEs) and made it clear that there’s no intention to privatise them. Ramaphosa was replying to debate on his State of the Nation Address at a joint sitting of Parliament on Wednesday. He did not respond directly to criticism from opposition benches, instead..
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State-owned Denel has cash flow problems and can only pay workers a portion of their salaries
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Denel said that they could only pay employees 85% of their salaries for the work done in the month of June. Group Chief Executive Officer, Danie du Toit said in a statement, “The management of Denel is working tirelessly to ensure that delayed portions of salaries will be reimbursed to employees as soon as possible.”..
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Now in charge of solving SA’s jobs crisis: one minister who tried to cover up Nkandla, and one who helped try to sell Denel to the Guptas
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Unemployment is such a critical issue that he was renaming the department of labour, President Cyril Ramaphosa announced on Wednesday – and in name at least, jobs is now the first priority for the minister of employment and labour. To that post Ramaphosa appointed Thulas Nxesi – who became deeply embroiled in covering up the..
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South Africa in shambles: Did somebody say it’s a “Sh**hole”?
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Mzansi has hit rock bottom and the ANC GOVERNMENT is the cause of this all. Ok so Municipalities cannot pay salaries, SABC cannot pay salaries and is bankrupt, Denel cannot pay salaries and is bankrupt, Transnet is bankrupt, SARS is running in a minus, SAA cannot pay salaries and is bankrupt, Escom is Bankrupt, Telkom..
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