Joint venture partners Glencore and Merafe Resources could cut up to 665 jobs and have started consultations with workers at their Rustenburg ferrochrome smelter. Local chrome firms on Monday warned of more than 1,200 potential job cuts, citing power cuts, rising electricity tariffs and increased competition from overseas. The potential layoffs highlight the risks posed..
Continue reading…
SA chrome firms warn of more than 1,200 job cuts – Eskom’s unreliability and rising tariffs were some of the main reasons for the layoffs
Posted on Leave a comment
R11m from SA Lottery goes to cousin of National Lotteries Commission boss
Posted on Leave a comment
The National Lotteries Commission has given more than R11m to a non-profit organisation (NPO) called I Am Made for God’s Glory, which has in turn paid R2m to a private company of which the sole director is the cousin of the chief operating officer of the National Lotteries Commission. According to leaked bank statements, R2m..
Continue reading…
State-owned Landbank becomes the first State Owned Enterprise to be downgraded to junk by Moody’s
Posted on Leave a comment
The Land Bank has become the first big state-owned company in SA to be relegated to junk status by Moody’s rating agency. The New York-based agency, which is the last remaining among the big three to rate SA as investment grade economy, said given government’s fiscal challenges, it expected less financial support for the Land..
Continue reading…
Cash-strapped SAA cancels 38 domestic and international flights
Posted on Leave a comment
SAA has confirmed its cancellation of 38 domestic and international flights between OR Tambo International Airport and Cape Town, as well as between Johannesburg and Durban’s King Shaka airports. In a statement, the airline said: “These decisions are in line with SAA’s usual policy of reviewing flights and consolidating services with low demand. Furthermore, during..
Continue reading…
Eskom drops electricity price bombshell – Consumers will pay ‘50% more’ for electricity if Eskom beats Nersa in court
Posted on Leave a comment
The power utility is challenging tariff increases approved by the National Energy Regulator of South Africa (Nersa) for 2019 to 2022. If Eskom gets its way, consumers will pay 50% more for electricity. Eskom contends that approving increases by 9.41% for 2019-2020, 8.10% for 2020-2021 and 5.22% for 2021-2022 instead of the requested 16% was..
Continue reading…
Alexkor, SA state-owned diamond company is on life support
Posted on Leave a comment
South Africa’s state-owned diamond mining enterprise Alexkor is desperately in need of cash to pay expenses, but does the struggling entity deserve more funding? Its marine-based concessions stretch from Alexander Bay to Port Nolloth, while its land-based concessions span the equivalent of 865km2. It mines the latter through its Pooling and Sharing Joint Venture (PSJV)..
Continue reading…
SAA director resigns from his post amid crisis at state entity
Posted on Leave a comment
SAA director Martin Kingston resigned from his post, and the move was welcomed by the communist-minded Numsa union as well as the trade union Sacca. The two unions also said the rest of SAA directors should follow Kingston’s example and submit their resignations. Kingston’s resignation comes after Bloomberg said in his report there is no..
Continue reading…
Poor economic conditions in SA cause job losses
Posted on Leave a comment
With the latest announcement from Telkom regarding the retrenchment of nearly 3,000 employees, the mining industry has also warned that they will be following the same route. Glencore and Merafe are also retrenching due to the poor economy and the extremely expensive electricity. Unconfirmed reports indicate that about 1,000 jobs have been compromised, of which..
Continue reading…
According to experts, Telkom has approximately 4,500 excess staff who are believed to have a direct impact on the profitability of the entity
Posted on Leave a comment
The government as Telkom’s largest shareholder has called for an urgent meeting to discuss the company’s plan for retrenching thousands of redundant workers. Earlier last week, Telkom announced its intention to lay off about 3,000 workers, which is a fifth of its total workforce. The Department of Communications and Digital Technology has announced that Minister..
Continue reading…
SA is one of 8 states threatened by famine – All the more reason for competent governance!
Posted on Leave a comment
South Africa is one of several states in Southern Africa that are among the 45 million people who will face famine in the coming winter months. The eight states, of which Zimbabwe, Zambia, Mozambique, Madagascar, Namibia, Lesotho, Malawi and possibly Botswana are experiencing drought conditions while the economic conditions are also worrisome, have led the..
Continue reading…
Outrage as Telkom CEO Sipho Maseko gets R23 Million & Executives get R100 Million, yet 3,000 employees to be retrenched due to lack of funds?
Posted on Leave a comment
Trade union Solidarity has launched an attack on Telkom for planning to fire 3,000 employees after paying its executive team more than R100 million.
Continue reading…
Controversial Panyaza Lesufi’s online registration system plunges schools across SA into total chaos
Posted on Leave a comment
The placement of pupils by the Department of Education has created new crises, leaving parents and pupils furious. Cases have been reported from certain schools in the Central Transvaal region that are hopelessly overcrowded, which have apparently been criticized for evading the truth many pupils have not even be placed yet. What is alarming, however,..
Continue reading…
#LetThemEatCake SA in crisis while ANC & black elites eat cake, celebrating its 108 years
Posted on Leave a comment
The ruling Anc party,was holding a rally in Kimberley celebrating its 108 years.This celebration, which is usually accompanied by a jovial mood of song and dance by party leaders, members and supporters, happens during a time when the country has been plunged into several crises of epidemic proportions. Can the ANC really afford to celebrate?..
Continue reading…
3000 Telkom employees face unemployment after telecommunications company decides to lay off a third of its workforce
Posted on Leave a comment
In a letter sent to unions on Wednesday, the telecommunications company says the decline in voice calls and landline data (ADSL), as well as “operational inefficiencies” are the main reasons why so many employees have become redundant. The first of two rounds of retrenchments is at OpenServe, as well as information technology and consumer services…
Continue reading…
Another black school up in flames reducing the number of schools for black learners
Posted on Leave a comment
Another school was burned down by the country’s “barbarians” reducing the number of schools meant for blacks. The school, located in the Vanderbijlpark location, is an elementary school that suddenly leaves a large number of pupils without a classroom. Although the authorities have ordered an investigation into the incident, it is the work of vandals..
Continue reading…