Posts tagged with 'government'

 

SAA’s wings cut – bankrupt SOE can only pay salaries in January

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The bankrupt, state-owned SAA airline company will manage to pay its staff salaries for January, but that’s where it all ends.

With a bankrupt government failing to fulfill its pledge to pump another R2bn into the soe, it looks as if SAL will not remain standing.

The airfreight company faces three serious problems, and the solutions to this are vague and unclear, as different measures could not create a better situation.

The SAA needs at least R2bn to get its planes up, but with the many cancellations it has had to announce, its passengers are becoming less and less and profitability is becoming almost impossible.

The government’s inability to borrow R2 billion from any banker in the country has failed, which is now seen as a vote of no confidence in the financial approaches the regime is following.

It can inflict a final blow.

The large number of workers who should never have been hired is another reason why the state-run entity is faltering in the a
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Only 15% of CEOs are still positive about SA’s economic outlook

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This is a slim 15% of CEOs who still have a positive outlook on the South African economy’s outlook.

They are still very confident and confident about what their companies’ return will be in the coming financial year.

However, the growth rate that has almost reached zero point speaks to a different view, in which more than 80% of business leaders are deeply concerned about the state of affairs.

Growing pessimism, even among those who normally remain positive, is now noticeable, and many believe their well-built businesses are no longer as secure as they were a few years ago.

A company that gives advice to businesses and their CEOs says the number of organizations that still have confidence is diminishing each month, while companies are experiencing almost daily decline in turnover.

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Are the nails in the coffin for controversial Public Protector?

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The controversial Public Protector, Busisiwe Mkhwebane, appears to have counted the days when considering the reaction of certain members of parliament after the matter of her eligibility as OB was tabled.

The National Assembly’s speaker, Thandi Modise, approved that Parliament follow the procedures that could lead to the OB’s dismissal.

Busisiwe Mkhwebane is probably the most important reason why the parliament in 2019 laid down rules to be followed when removing the OB from office.

The process is apparently underway, and opposition parties, excluding the Red Brigade, are expected to strongly demand that she be removed from her post, especially in light of the numerous court cases she lost due to incorrect information being investigated reports were recorded.

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Black businessman Patrice Motsepe was elected to the World Economic Forum in Davos 

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Billionaire Patrice Motsepe was elected to the board of the World Economic Forum in Davos at the gathering last week.

Motsepe is a businessman and founder of African Rainbow Minerals, of which he is also the executive chairman.

The announcement comes via social media after a storm erupted because he said earlier that South Africa loves Donald Trump.

During the Davos meeting, the billionaire had the opportunity to enjoy a luxury dinner with the US President.

While talking to President Trump, he said they do business with 50 countries, and he has the privilege of being one of the 100 biggest business brain powers that may now be with the president.

“And Africa loves you, Don
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Calls for Death to Americans at US Embassy in South Africa – SACP chant ‘One American, one bullet’ outside US embassy in Pretoria

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A threat of “one bullet, one American” was chanted outside the US embassy in Pretoria on Thursday, where hundreds of protesters gathered to protest against the US foreign policy in the Middle East.

“The Americans are the biggest terrorists in the world. They are responsible for terrorism in Cuba, Venezuela and many other countries in South America. Now they have decided the Middle East is their base. Our message is that there is no home for you, otherwise you will go home in chests. Soon you will hear the slogan ‘one bullet, one American’, “said Shuaib Booley, chairman of the Ahlul Bayt Islamic Council of South Africa, with loud cheers from the crowd.

Booley led the crowd in cries of “Allahu akbar” (God is great) while embassy workers watched the demonstration from a distance. Officials later stopped Booley before he could enter the building as part of a delegation that would hand over a memorandum.

Also present at the demonstration was the SACP secretary ge
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Bankrupt power supplier is struggling to maintain electricity grid and diesel generator units are used to prevent #rollingblackouts

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Eskom has now gone so far as to use its emergency reserves in an effort to evade load shedding.

The diesel generator units have been used to prevent the burning of candles, but the diesel fuel bill is already more than 50% over the entity’s allowable diesel consumption according to its budget.

Workers claim they worked hard on Wednesday night to pump water so the entity on Thursday could avoid shedding.

Observers believe these are probably the first signs of a new breeze blowing through Eskom, as no one has taken much responsibility to date on whether to light the candles and when it’s going to change.

Last year’s load shedding cost Amcor about R740m, directly affecting the net profit to be shown at the end of a financial year.

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ANC regime has driven SA into bankruptcy over a 25-year period

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The extremely dire situation in which South Africa finds itself has raised the question of whether it is not yet time to make a survey of everything that has been destroyed in 25 years.

A political analyst points out that the first red light came on when municipalities across the country, all of which had cash stashed  up over years, suddenly turned red in the face of bankers.

Today, there is probably not one municipality that is either totally bankrupt, or hesitates on the brink of bankruptcy.

The debt burden of billions of rand in municipal structures is one of the surest ways that South Africa will look just like Zimbabwe in the foreseeable future – tar roads become dust roads, light fires sometimes, and businesses close their doors, one sooner than the other.

The government is in the same position – the latest shock is that the government has failed to raise R2bn so that the bankrupt SAA can resume its flights.

SAA is bankrupt, Eskom’s R450 billion
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Why do people vote for same leaders who don’t deliver services?

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Service delivery protests in South Africa are continuing as different municipalities fail to deliver their mandate of providing basic services to their communities.

The Maluti-A-Phofung municipality in Free State has not supplied water to Qwaqwa since last year December and tensions flared up when a young girl drowned while trying to collect water from a nearby river.

Communities such as as the Enoch Mgijima Local Municipality in the Chris Hani District of the Eastern Cape have also experienced a billing crisis which has not been solved in years.

With all these service delivery problems, Bongani Bingwa questions why many people in these communities continue to vote for the same leaders that do not deliver services.

He chats to North-West University public policy lecturer and Thabo Mbeki School of Leadership visiting lecturer TK Pooe to unpack this matter.

I always say this, in public policy ours is not to tell people who to vote for, but it is to simply
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Eskom cannot deliver sufficient and sustainable power, ANC regime now approves alternative options

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The ANC regime has finally realized that Eskom is unable to provide sufficient, and sustainable, electricity to consumers.

The news that the government has agreed that municipalities may start their own power supply is a complete turnaround in policy and is also contrary to the AMC-SACP alliance’s communist approach to control everything for everyone.

There are suspicions that several larger municipalities will do their homework, but informed sources believe the new step could lead to greater corruption and poor service delivery since no municipality has the skills to set up and operate its own power plant.

 
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