Cyril Ramaphosa | SA Radio .com

SA Investment Conference does not create expectations for a better economy

Posted on 06/11/2019 Leave a comment

The South African Investment Conference kicks off this week, and is considered by several political observers and financial experts that to much talking is done but nothing is being achieved.

ANC President Cyril Ramaphosa is leading the government’s side to host the second annual meeting held in Sandton.

With a kind of theme of “Accelerate growth through partnerships”, conference delegates will talk and talk for three consecutive days….

Last year, the first conference was held, and nothing came of it that could improve the bankruptcy and junk status of the country.

The Minister of Finance, Mboweni, said the country’s expected growth rate of 1.5% would not be reached, and expects growth of 0.5%.

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The ANC can no longer rule South Africa – unemployment rate highest in 11 years and increased to 29,1%

Posted on 30/10/2019 Leave a comment

South Africa’s unemployment rate has increased by 0,1 of a percentage point to 29,1 percent in the third quarter compared to the second quarter, the highest it has been in 11 years.

Statistics South Africa (StatsSA) said on Tuesday that the number of employed persons increased by 62 000 while the number of unemployed persons increased by 78 000, resulting in an increase of 141 000 in the labour force.

The South African working-age population increased by 149 000 in the third quarter compared to the second quarter

There were approximately 10,3 million persons aged 15–24 years in the quarter, and 32.3 percent (or 3.3 million) of them were not in employment, education or training (NEET).

The number of discouraged work-seekers increased by 44 000 while the number of people who were not economically active for reasons other than discouragement decreased by 35 000 between the second and third quarters, resulting in a net increase of 9 000 in the not economic
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SA President Ramaphosa caught sleeping at Russia-Africa summit

Posted on 28/10/2019 Leave a comment

A picture of President Cyril Ramaphosa sleeping at the Russia-Africa summit held in Sochi has earned him more rebuke than praise, with some saying it was “wasteful expenditure” to send him to the gathering.

In the picture screen grabbed from SABC News – which was beaming the proceedings live – Ramaphosa is seen enjoying a nap in a sea of awake and highly attentive delegates.

The picture was then circulated on social media with some critics saying he was not taking the summit seriously like the Financial Times Africa summit in London where he was seen smiling with some delegates and even posing for photos.

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The South African story – How to destroy a country

Posted on 25/10/2019 Leave a comment

South Africa is on a path of destruction and is on its way to becoming an “unhappy country” like Zimbabwe and Venezuela.

This is the view of Efficient Group founder and chief economist Dawie Roodt, who was speaking at an event hosted by the Free Market Foundation.

Roodt said that while unhappy countries – where their economies are destroyed – are not all the same, there is a similar pattern on how the economic destruction takes place.

Destroy the existing capital in the country.
Frighten the taxpayers by continuing to increase taxes.
Scare savers by targeting their money.
The country tries to inflate itself out of debt.

Roodt said the destruction of a country’s economy always ends the same, with high levels of inflation.
Destroy existing capital

Roodt said the first step to destroying a country’s economy is when politicians start to destroy existing capital.

He said Eskom is a good example, where a well-functioning and valuable company
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Irregular expenditure by ANC-parastatale entities increases to R61,3bn – only a stupid foreign investor will invest in SA

Posted on 25/10/2019 Leave a comment

Auditor-General Kimi Makwetu warned the government that further bailouts to state entities would increase the budget deficit and lead to credit downgrades. The state advanced R446 billion in the 2018/19 financial year to eleven state-owned entities. Irregular expenditure increased from R51 billion to R61.3 billion.

A financial expert said in response to the alarming spending spree, it would be just a stupid foreign investor reacting to Ramaphosa’s attempts to attract investors to South Africa.

The ANC president was in London two weeks ago to recruit new investors, but informed sources indicate that although promises have been received, it will be again as before and no one will actually commit.

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ANC president visits Russia for Russia-Africa meeting – Is it perhaps Russia’s first step to get African countries dragged under the Russian wing?

Posted on 24/10/2019 Leave a comment

The ANC’s president Cyril Ramaphosa will apparently lead a delegation of African representatives to the first Russian-Africa meeting in the Russian city of Sochi, which will take place from October 23.

The two-day event aims to focus on three key areas, namely economic ties, joint project development, and humanitarian and social sector improvements.

Last year, Ramaphosa received a Russian delegation in South Africa under the banner of the so-called Brics, with the aim of attracting investors, but from which dates came.

Political analysts suspect the gathering in Russia is the first step to move African countries under the Russian wing.

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Dawie Roodt: “SA economy can be restored if Eskom privatizes”

Posted on 23/10/2019 Leave a comment

The South African economy can recover, but then the Ramphosa-regime must admit that it does not have the capacity to do so.

This is the opinion of an economic adviser who says the one big reason why the country stumbles economically is because the whole world sees how wrong the Ramaphosa regime is in times of severe economic decline in the country.

The extremely poor management applied at Eskom is one of the main reasons that billions of Rand end up in a bottomless pit, it is said.

Even Dawie Roodt confirms that the poor management of Eskom can be changed to make the power supplier effective again.

The most important mistake the regime has refused to rectify so far is to privatize Eskom so that the country can maintain an efficient power supply network that will also lead to international investors’ interest in coming back to SA.

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Foreign investors sell R25bn worth of shares in SA

Posted on 22/10/2019 Leave a comment

According to economists, investors are preparing for D-day for Eskom. South Africa is currently doing better in financial terms than Nigeria, Turkey and Lebanon.

Foreign investors have sold more than R25bn of the country’s shares and the Rand is among the five worst performing currencies against the Dollar.

Even Ramaphosa acknowledged that the situation at Eskom was untenable. Meanwhile, Gwede Mantashe says that SA does not have an energy crisis, but does have an energy problem!

Political analysts point out that the problems caused by Eskom will eventually lead to downgrading to junk status, and that jobs will reduce even further thereafter.

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Power outages cost SA millions of rands a day and could mean an economic downfall

Posted on 18/10/2019 Leave a comment

Ramaphosa may forget to go ahead with successful results whilst begging for investments when Eskom has already started shedding power, says a well-known economist from Pretoria.

Eskom’s load shedding, without any announcement, costs South Africa millions of rand a day, and the entity is in two ways destroying the country economically.

On the one hand, industries, business people, schools and government departments are all harmed by the load, while South Africans have to pay for power through their necks.

Secondly, the state treasury is being emptied to keep the incompetent power supplier standing, and the demand is growing that the ANC and the Eskom chiefs should all resign their offices because they are ruining the economy, he said.

Experts point out that it will now cost as much as R1.8 trillion to get the bankrupt Eskom back on a healthy footing, and no one will trust the Ramaphosa regime with such an amount, Bart Griffiths said.

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Why jobs for skilled foreigners? What about about jobs for skilled white South Africans? ANC-regime prioritising immigration reform to attract skilled foreigners

Posted on 17/10/2019 Leave a comment

The government has prioritised immigration reform to attract skilled workers to the country, president Cyril Ramaphosa confirmed in his latest newsletter, released on Monday morning.

This has been an important part of finance minister Tito Mboweni’s growth plan, which proposed friendlier immigration regulations for foreigners with tertiary qualifications from accredited institutions.

In order to attract investment that will boost the SA economy, government is also working on improving business conditions through reforms such as an e-visa process and an electronic deeds registry system, Ramaphosa said in the newsletter.

He stressed the importance of attracting foreign direct investment and he shared government’s plans to improve the ease of doing business in the country. The president is currently in London, where he will be addressing the Financial Times Africa Summit 2019 – a gathering of business people and investors.

Ramaphosa highlighted government’s
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