In a study published last week, the Fitch credit rating agency has warned the ANC government, which is still reluctant to consider public sector salary demands for the next three-year term, over it’s inability to exercise control over spending, which could lead to further budget problems.
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Fitch Rating Agency Warns ANC Regime over Uncontrolled Spending and Unproductive Public Sector Salaries!
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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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More than for R376 million that has been spent so far on the Evaton Renewal Project cannot be accounted for – We know where it is! Probably stolen by ANC-cadres
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EVATON – The Democratic Alliance says the Gauteng Human Settlements and COGTA MEC, Lebogang Maile, has failed to account for R376 million that has been spent so far on the Evaton Renewal Project (ERP) in the Emfuleni Local Municipality. In a reply to questions in the Gauteng Provincial Legislature from DA Emfuleni Constituency Head, MPL..
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Patricia de Lille wants to waste R4.5 million for a one night party
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Despite the bad economic state were are currently experiencing due to corruption and poor collection of service fees, Patricia de Lille, Cape Town’s mayor until the end of the month announced that R4.5 million was allocated for a single evening party when lights will be switched on to enter the dark 2019. Sandt Dickson of..
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That’s how the taxpayer’s money is stolen! – Department of Public Works spends R300 million on rent for buildings and parking spaces that do not exist
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Adv. Director General Sam Vukela reveals that the Department of Public Works spend R300 million on rent for buildings and parking spaces that do not exist it in the department’s 2017-18-year report. This damning evidence on which he and Thulas Nxesi, minister, and Jeremy Cronin, deputy minister and other departmental heads of government, reported on..
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No wonder SA has money problems – Minister spends more than R116k on cutlery and crockery for her office
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The social development minister says the goods were purchased in compliance with National Treasury regulations. Minister of Social Development Susan Shabangu has spent R116 528 on crockery and cutlery for her official office since she took over the department from the previous minister Bathabile Dlamini. In a written reply to Inkatha Freedom Party MP Liezel..
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You’re paying more than double what you should for electricity in SA
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Energy expert Ted Blom says that South Africans are paying more than double what they should be for electricity in the country, and it’s funding Eskom’s corruption and mismanagement. Eskom this week reported a loss after tax of R2.3 billion for the year ended March 31 from a profit of R900 million 12 months earlier…
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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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It’s Getting Worse! Irregular Municipal Expenditure Jumps By Over 50%
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Almost R17bn of ‘irregular expenditure’ exposed, as only nine out of 263 municipalities record a clean audit – AG report The auditor general’s local report for 2015/16 was released today, but I can think of 254 municipalities that will be horrified by the results. Unsurprisingly, these results are a regression from those published in the..
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