As thousands of road accident victims are anxiously waiting to be compensated by the cash-strapped Road Accident Fund (RAF) following court orders in their favour, the Gauteng High Court, Pretoria, is expected to soon deal with the fund’s inability to pay up. Hundreds of claimants recently turned to the court where they had obtained an..
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Cash-strapped Road Accident Fund struggles to pay billions in outstanding debt – This is just another SOE that is collapsing under ANC-regime’s rule
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Soweto’s huge debt burden amounts to more than R17 billion, where illegal power connections are more the rule than the exception in residential areas
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Soweto has been identified as the great sinner when it comes to outstanding debt to Eskom. The latest figures show that Soweto’s debt to the power provider is over R17bn. Last week, technicians threatened that they would no longer perform repairs in neighborhoods where their security is threatened, areas effected including Soweto. Herman Mashaba, the..
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Junk status winks for Mangaung Metro with liabilities exceeding assets; officials receive generous salaries and cellphone stipends, while levels of service delivery are non-existent
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The ANC-controlled Mangaung Metro faces junk status after Moody’s rating agency said further downgrading would be considered if the municipality do not urgently get its household in order. The Bloemfontein municipality is in truth already bankrupt with liabilities exceeding assets of nearly R1bn and with over R6bn of outstanding debt. In fact, Moody’s indicated..
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If you live in the Free State, make sure your municipality is up to date with its Eskom payments
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National power utility, Eskom, is determined to recoup costs from defaulting municipalities. The beleaguered power supplier has set its sight on two Free State municipalities, threating to cut them from the power grid should their debts not be settled immediately. South Africa’s power supplier is struggling financially – that’s no secret. The state-owned enterprise (SOE)..
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