Minister of Public Enterprises Pravin Gordhan has warned that, while two unions at SAA are demanding salary increases for members, the airline might not even be able to pay any salaries at the end of the month. The minister was speaking at a Parliamentary briefing on Wednesday. The meeting was called for feedback on power..
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Pravin Gordhan says cash-strapped SAA may have no money for salaries this month
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Eskom may be peddling its problems – now wants to sell some of its power plants to cut losses due to maintenance costs
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Eskom plans to sell off its power plants in order to get rid of the bigger problems in the industry. Informed sources told Die Vryburger that Eskom wants to sell its power plants that require large maintenance costs and are guilty of the huge pollution in certain areas such as the Eastern Transvaal to private..
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An unemployment reality check in SA – The impact of behaviour on the unemployment crisis – We have become a nation of takers
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The economy is a superb construct that helps us to serve each other –and because the situation we are in rests so heavily on paradigms, we can turn things around pretty quickly by shifting those paradigms. We have become a nation of takers. Without recognising this we will not be able to fully understand the..
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SABC financial crisis: National broadcaster faces total blackout
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With uncertainty over whether the SABC will be granted a government bailout, there are now fears that the broadcaster could be forced off air. Things are looking grim as far as the South African Broadcasting Corporation (SABC) is concerned, with fears that the national broadcaster is heading to a complete blackout. Long-standing financial strife in..
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SA economy in dire stress Mr Cyril! – No growth occurred and Gross Domestic Production shrunk by a shocking 3.2%
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Despite the great optimism surrounding Ramaphosa’s election as ANC president, there has been no growth in the domestic economy. Rather, the decline can be notice after the latest figures where released. Gross Domestic Production weakened by a shocking 3.2% in the first quarter of 2019. This is the biggest fall since the world wide financial..
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China is holding the ‘switch’ in it’s hand, doing business with them is dangerous, with another Eskom crisis, China withheld the R7bn loan, they already own one Eskom plant, Load-shedding highly possible
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Well, this doesn’t look too clever. It’s reported that Eskom will be R7bn lighter this month, after its Chinese lenders raised their concerns. South Africa could be set for another round of drama from Eskom, as the ailing power utility has reportedly failed to receive R7 billion in loan payments initially set to come from..
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SA is the most unequal country in the world – and according statistics, South-African’s are becoming poorer and poorer by the day, while the ANC-regime is stuffing their pockets by abusing the taxpayers hard earned money via corruption and looting
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The world is still unequal, and the gap between rich and the poor and between men and women is still vast. The world’s rich are getting richer and the world’s poor are getting richer – except in sub-Saharan Africa where the poor are getting poorer. Worldwide, the number of billionaires doubled since the 2008 financial..
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Hlaudi Motsoeneng ‘SABC was performing under my leadership,’ – even though he is the central figure in the complete financial and governance collapse of the corporation
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Former SABC chief operating officer Hlaudi Motsoeneng says the public broadcaster’s new leadership is “clueless and obsessed with blaming” him for the current financial crisis. Motsoeneng‚ who is embroiled in legal disputes with the SABC over the payment of his pension‚ told Sowetan in an interview at his Krugersdorp home: “The SABC was performing under..
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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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Cabinet reshuffle: A new dawn in the economic cluster
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Less than two weeks after he hinted that change was coming, President Cyril Ramaphosa made sweeping changes to his cabinet, including the return of Nhlanhla Nene as the finance minister.
Other major changes to key economic portfolios include the appointment of Pravin Gordhan to the ministry of public enterprises to replace Lynne Brown; the appointment of ANC chairperson,
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