If ever there was a business that should be a cash cow for the ANC government, diamond mining is it, well, maybe it is, directly into their back pockets! The ongoing weakness and current record low Rand value means record high prices for Alexkor’s diamonds, which come from a vast resource of 90-95% gem-quality diamonds which exists off the west coast of Southern Africa. In fact it is so precious the entire area is off limits to the public, yet still the ANC government manages to make it bankrupt? Alexkor joins the long list of almost every single other SOE going bankrupt, begging the question to be asked, whether this is deliberate?
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SOE Alexkor Goes Bankrupt! ANC Cannot Even Make Profit From Diamond Mining? Yet Again, The “Permanently Disadvantaged” Plunder The Golden Goose to Death!
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Fired Transnet boss will still be paid R3 million for doing nothing
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Recently fired Transnet CEO Siyabonga Gama will still receive his salary for the next six months despite not having to report for duty. This was confirmed by Transnet board member Edward Kieswetter during an interview with eNCA’s Shahan Ramkissoon. Kieswetter confirmed that although Gama’s contract had effectively been terminated on Monday, the former CEO would..
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SABC nearing bankruptcy yet executives pocket R45 million in paychecks
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In times of dire financial distress, the spotlight falls on the SABC’s exorbitant executive salaries. The South African Broadcasting Corporation (SABC) is struggling to stay afloat, yet executives are still being paid millions. Usually, when a company is struggling to make ends meet, salaries are often the first expenses closely examined and adjusted accordingly. But..
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Telkom CEO pockets a whopping R27 million paycheck
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Telkom CEO, Sipho Maseko, earned a total of R27 million in the 2018 financial year. South Africa’s telecommunications provider has released its integrated financial report – and the salaries are staggering. While Telkom may be one of the better performing state-owned enterprises (SOE)– let’s be honest, the bar isn’t set too high – yearly salaries..
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ESKOM wants a 30% price hike as part of its plan to recover tens of billions of rands
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The power utility had requested a 30% hike as part of its plan to recover tens of billions of rands lost to coal procurement, as well as the lower than expected electricity sales between 2014 and 2017, which some have labelled as the “Gupta years”.
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