Advocate Terry Motau has released his report into what might be the biggest banking scandal ever to be uncovered in South Africa.
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Facts to know on what is the “Great VBS Bank Heist” all about?
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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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How is this even possible:- Eskom posts R2.3bn loss, R19bn in irregular expenditure
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Eskom suffered a net loss of R2.3-billion in 2018, the state-owned power producer revealed at it financial results presentation on Monday.
The power utility said its net cash from operations declined from R45.8-billion to R37.6-billion, as it struggled with leadership and operational challenges.
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Just in SA – Power tariffs increase, municipalities do not pay
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Eskom has tried to explain their request for a tariff increase of almost 20 percent to Nersa, but it seems that several municipalities simply do not pay for Eskom services. Direct consumers of Eskom Power, such as farmers and industries, will be severely affected by the requested tariff increase. Now it appears that Eskom does..
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Squabbles dim DA’s hope of 2019 win
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Worsening relations between the Democratic Alliance and smaller opposition parties are threatening the party’s hopes of assuming power nationally in 2019 by forming a coalition government. On Tuesday, when the DA brought a motion to dissolve Parliament, its opposition allies would not support it. The smaller opposition parties accused the DA of being arrogant for..
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ConCourt rules on new owners’ historical debt.
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The Constitutional Court on Tuesday ruled that new home owners are not liable for historical debt taken over from previous owners. Municipalities such as Tshwane, eThekwini and Ekurhuleni — as well as the cooperative and governance minister — argued against a landmark high court judgment in 2016, which made a similar ruling. The high court..
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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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Some good news:- Court throws out fracking application for KZN.
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The Western Cape High Court has set aside a prospecting right application, which could have opened the way for fracking in South Africa. The court’s decision could put the brakes on a number of similar prospecting applications if they followed the same process. Fracking has not yet been signed off in South Africa. But a..
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