Posts tagged with 'financial crisis'

 

Pravin Gordhan says cash-strapped SAA may have no money for salaries this month

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Minister of Public Enterprises Pravin Gordhan has warned that, while two unions at SAA are demanding salary increases for members, the airline might not even be able to pay any salaries at the end of the month.

The minister was speaking at a Parliamentary briefing on Wednesday. The meeting was called for feedback on power utility Eskom, but Gordhan – who met with unions on Tuesday – also made some remarks about SA’s cash-strapped national airline.

The minister said the strike was worsening the airline’s financial crisis. “SAA doesn’t have enough cash to possibly even pay salaries at the end of the month,” he said. “Not only will people not get increases but they might not even get their salaries,” he added.

Members of the National Union of Metalworkers of SA and the SA Cabin Crew Association have been on strike since Friday over wages, proposed job cuts and the demand that more workers be insourced.

On Wednesday afternoon Numsa and Sacca were at dispute r
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Eskom may be peddling its problems – now wants to sell some of its power plants to cut losses due to maintenance costs

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Eskom plans to sell off its power plants in order to get rid of the bigger problems in the industry.

Informed sources told Die Vryburger that Eskom wants to sell its power plants that require large maintenance costs and are guilty of the huge pollution in certain areas such as the Eastern Transvaal to private entrepreneurs.

Eskom’s financial crisis does not allow him to do proper maintenance and end the huge air pollution, and now it seems that he would prefer to sell such power plants.

Eskom has still focused on the possibility of nuclear power generation, but the bankrupt entity will not be able to raise the funds for it.

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SA is the most unequal country in the world – and according statistics, South-African’s are becoming poorer and poorer by the day, while the ANC-regime is stuffing their pockets by abusing the taxpayers hard earned money via corruption and looting

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The world is still unequal, and the gap between rich and the poor and between men and women is still vast.

The world’s rich are getting richer and the world’s poor are getting richer – except in sub-Saharan Africa where the poor are getting poorer.

Worldwide, the number of billionaires doubled since the 2008 financial crisis.

In 2018 a new world billionaire was created every 2 days.

Last year the super wealthy grew their billions collectively by $2.5bn a day, but billionaires and big corporations are paying lower taxes than they have in decades.

This is according to the latest Oxfam report due to be released on Monday in Johannesburg.

The organisation, founded internationally in 1942, is a nonprofit group of independent charity organisations focusing on the alleviation of global poverty.

According to the report, if the world’s richest and big corporations paid their fair share of taxes, the ga
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