Following the disappointing mid-term budget speech by Tito Mboweni, the Rand reached its lowest level in weeks. Eskom’s rescue plan has nowhere really figured in either Pravin Gordan’s submission or Mboweni’s budget reason. The government’s financial situation is rapidly deteriorating with the national debt of R3 trillion and a tax deficit of R53 billion. Moody’s..
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SA has a national debt of R3 trillion rand and tax deficit of R53 million
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The weak Rand makes investors move away from the currency, now rely on gold instead
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The rising gold price, the weak Rand that just can’t lift its head, coupled with the uncertainty over the country’s economic situation, has moved investors away from the money unit. Currently, Investgold is selling up to 5,000 gold coins per week, which is a strong indication that confidence in the Ramaphosa regime is continuing to..
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The Rand remains on a rollercoaster of volatility -the currency continued to weaken due to the heightened global growth risks after talk of financial bailout for Eskom
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Last week’s poor global data is indicative of a worldwide economic rough patch. Talk of another massive financial bailout for Eskom has put South Africa on thin ice with Moody’s. The country is said to be fighting a losing battle to keep its last remaining investment grade credit rating. Foreigners have already begun dumping R2..
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SA currency now worst in the world – ANC the guilty party for display because of land expropriation policy, corruption and fraud as well as where internal fights are the order of the day
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The South African currency, the Rand, has reached its lowest level since September 2018. The state’s debt burden, Eskom’s inability and negative comments from potential downgrading agencies, are cited as reasons for the poor performance. Standard Bank’s Warrick Butler stated that the Rand is currently the poorest performer of all payment instruments worldwide. The Rand..
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Economic recession awaits SA due to poor performance of the rand and begging mentality of state entities
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South Africa’s economy is plunging into an abyss, and the recession looms on the doorstep of SA’s door. This is the opinion of an expert in Pretoria following the extremely poor performance of the rand and the begging mentality of state-controlled companies. The latest plea from the SA Airways, asking the ANC-regime for a R4..
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SA’s struggling Rand is even further in abyss – Ramaphosa may be weaker on economic grounds than its predecessor Zuma
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It appears that the current ANC president, Cyril Ramaphosa, is probably an even weaker leader than his predecessor, Jacob Zuma, on economic grounds. This is the opinion of an anonymous Pretoria economist following the president’s announcement that he will nationalize the Reserve Bank in the foreseeable future. It is now clear that Ramaphosa has little..
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South Africa is currently on the verge of an economic collapse, with our corrupt government can one expect differently?
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Economists warn that South Africa is on the brink of an economic crisis. The recession, unemployment, the rand’s decline in value as well as international developments are factors that make the red lights flash. The rating agency Fitch stated on Tuesday, September 25, that the so-called stimulus package of Cyril Ramaphosa does not really bring..
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Ramaphosa’s Communist Policies Drag South Africa Into Recession For First Time in a Decade! Agriculture Down 30%
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A massive decline in the agricultural sector accompanied by smaller declines in transport and retail consumer sectors have dragged the South African economy into recession after nearly a decade of growth. It is a huge blow to President Ramaphosa’s controversial reforms.
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Rand fall and fuel prices rise after government’s reckless statements about land expropriation
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The poor performance of the Rand is definitely not good news for motorists. The Rand fell more than 8%, partly due to the mess on the Turkish financial markets. Although the oil price is relatively stable and even slightly lower, the weak rand will push the fuel price upward. The rand also visibly weakened after..
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ANC failures, Rand falls to a 6.5 month low
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The Rand lost all previous progress against overseas currencies, and is currently trading at a 6.5 month low.
The Ramaphosa euphoria has reached its low, while even Max du Preez takes on the ANC over their managers. He especially tackles Ace Magashule and describes him as “the adder in the bosom” of the ANC.
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Rand weakens after Zuma’s veiled treats
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JOHANNESBURG – Embattled President, Jacob Zuma was on Tuesday given an ultimatum to resign as head of state or otherwise face a motion of no-confidence in Parliament tomorrow.
ANC Chief Whip Jackson Mthembu and ANC treasurer-general, Paul Mashatile on Wednesday afternoon, announced the decision of the ANC caucus; to announce a motion of no-confidence in the President, scheduled to take place on Thursday.
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Rand is slowly losing steam after realizing there is not much difference between Zuma and Ramaphosa’s policies
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The rand is slowly losing steam after the initial recovery following Cyril Ramaphosa’s election as president of the ANC. All the optimism about a new “president” is slowly decreasing and economists believe that the currency is falling back and aligned with previous dissertations. This comes just after Ramaphosa’s land grab threats to seize land without..
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Generous Apartheid era handout of R50bn per year still funds 50% of Swaziland’s, 44% of Lesotho’s, 35% of Namibia’s and 30% of Botswana’s entire government revenue.
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Neighbouring black states are still benefiting from Apartheid structures setup in 1969. For 50 years South Africa has been paying this money over subsidising these country’s governments. Black Africans continue to ride the horse they flog to death… Are white South Africans really just that naive, vain and gullible? The Southern African Currency Union (SACU) is most easily identifiable in..
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