#ParasiticParastatals South Africans do need to be really concerned . There seems to be a black hole somewhere that is sucking up BILLIONS of Rands of not only taxpayer’s money, but even borrowing Billions more, and once the money is put in the black hole, it seems to be gone forever, creating the need for the government to look for hundreds of billions of Rands MORE, to keep debt laden State Owned Enterprises (SOEs) afloat.
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Where Does All The Money Go? South Africa Borrowed R411 BILLION From China in 2018, Yet Now in 2020, Our Pension Funds Are Targets To Bailout R254 Billion of Eskom’s Self Inflicted Debt?
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You, the taxpayer are going to pay for Eskom’s failures and probably Soweto’s debt too – Tax increase on the cards
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President Cyril Ramaphosa said in his recent state of the nation address that Eskom is facing serious financial, operational, and structural problems. While Eskom has sufficient cash to meet its obligations until the end of October 2019, its financial position remains a matter of grave concern. “For Eskom to default on its loans will cause..
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SABC a sinking ship in a tide of debt – Need R3.2bn bailout to stay afloat
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Faced with an unenviable choice last month – either cough up to service its eight-figure municipality account, or settle the salary bill, the SABC took the high road and paid its staff. And while the lights are still on in Auckland Park, for now, anyway, the broadcaster is desperately hoping a R3.2bn government guarantee will..
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China vows to take over Nigeria’s main assets over unpaid Loans – SA perhaps next in line on China’s list?
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Nigerian government is now at risk of losing its main state assets to China over unpaid huge increasing loans from Chinese government. But according to Nigerian government, the growing debt is sustainable, and the country is not at risk of losing state assets to China. Support Us at African Stand by following Us on Facebook..
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ANC-controlled city council of Vredendal wants to borrow R10 million from Standerd Bank – ANC ruling party is sinking deeper and deeper into debt!
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The ANC-controlled City Council of Matzikama (Vredendal and the surrounding area) will request approval at a Council meeting for taking an external loan at Standard Bank of R10 million. The loan is in part financing of its 2018/19 capital budget. No further information is known about the term, repayment amount, interest as well as how..
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Nedbank confirms that farmers will still have to repay their loan debt even though the ANC regime stole their farm
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The Nedbank Bank Group has confirmed that mortgagees will still be held responsible for repayment of loans, even if their land would be expropriated without compensation. This news was confirmed by Kedibonea Molopyane, head of Nedbank’s media department. According to the bank, a loan agreement is binding regardless of any form of so-called land reform…
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