Posts tagged with 'south africa'

 

SA chrome firms warn of more than 1,200 job cuts – Eskom’s unreliability and rising tariffs were some of the main reasons for the layoffs

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Joint venture partners Glencore and Merafe Resources could cut up to 665 jobs and have started consultations with workers at their Rustenburg ferrochrome smelter.

Local chrome firms on Monday warned of more than 1,200 potential job cuts, citing power cuts, rising electricity tariffs and increased competition from overseas.

The potential layoffs highlight the risks posed to Africa’s most industrialised economy by struggling state power utility Eskom, which is struggling with breakdowns at its coal-fired power plants and is mired in a financial crisis.

They also pile more pressure on President Cyril Ramaphosa’s government, which is trying to contain 29% unemployment.

Joint venture partners Glencore and Merafe Resources could cut up to 665 jobs and have started consultations with workers at their Rustenburg ferrochrome smelter.

“The consultation process is as a result of deteriorating operations and market conditions across the South African ferrochro
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R11m from SA Lottery goes to cousin of National Lotteries Commission boss

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The National Lotteries Commission has given more than R11m to a non-profit organisation (NPO) called I Am Made for God’s Glory, which has in turn paid R2m to a private company of which the sole director is the cousin of the chief operating officer of the National Lotteries Commission.

According to leaked bank statements, R2m was paid to Upbrand Properties by I Am Made For God’s Glory (IAM4GG), which received a R11 375 000 grant from the Lottery to develop an “integrated sports facility” in Limpopo.

The sole director of Upbrand is Kenneth Tomoletso Sithole, first cousin of NLC chief operating officer Phillemon Letwaba.

GroundUp has previously revealed how Upbrand received a R15m contract to build a rehabilitation centre near Pretoria at a time when Letwaba’s brother, Johannes “Joe” Letwaba, was a director of the company. Johannes Letwaba subsequently resigned, leaving Keneilwe Constance Maboa, the wife of Karabo Sithole, another first cousin of t
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State-owned Landbank become the first SOE to be downgraded to junk by Moody’s

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The Land Bank has become the first big state-owned company in SA to be relegated to junk status by Moody’s rating agency. The New York-based agency, which is the last remaining among the big three to rate SA as investment grade economy, said given government’s fiscal challenges, it expected less financial support for the Land Bank from the state.

The agency downgraded Land Bank’s long-term issuer ratings to Ba1 from Baa3. This is a notch below investment grade. It’s also a notch below SA’s sovereign rating, which the agency affirmed at Baa3 with a negative outlook in November, and also below Transnet and Eskom, who continue to enjoy a Baa3 rating from Moody’s, despite the latter’s debt and solvency woes. Land Bank’s short-term issuer ratings were downgraded to “Not Prime” from P-3.

“The ratings downgrade reflects Moody’s assessment that ongoing fiscal challenges suggest that the South African government will be more selective in dispersing finan
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Cash-strapped SAA cancels 38 domestic and international flights

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SAA has confirmed its cancellation of 38 domestic and international flights between OR Tambo International Airport and Cape Town, as well as between Johannesburg and Durban’s King Shaka airports.

In a statement, the airline said: “These decisions are in line with SAA’s usual policy of reviewing flights and consolidating services with low demand. Furthermore, during the current process of business rescue, these cancellations represent a responsible strategy to conserve cash and optimise the airline’s position ahead of any further capital investment.”

The airline said it would be reviewing further schedule amendments over the coming days and would communicate any operational changes to its customers.

Those who have already booked the cancelled flights will be re-accommodated on alternative services including Mango.

Below is a list of all the cancelled flights:

The following domestic flights operated by SAA have been cancelled:

Johannesburg (JN
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Steve Bannon Pres. Trump’s strategist moves all over the world to give POPULIST STRATEGY advise!

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Steve Bannon Pres. Trump’s strategist moves all over the world to give POPULIST STRATEGY advise!

Kyk hier: SAUK TV

Steve Bannon Pres. Trump’s strategist moves all over the world to give POPULIST STRATEGY advise!

👉 Clear cut!!
👉 Wants to be invited !
👉 Political parties to consider!
👉 For Patriots only!

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ULA Memes Slideshow 1

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ULA Memes Slideshow 1

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ULA Memes Slideshow 2

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ULA Memes Slideshow 2

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Newspapers and Academics FINALLY Admit: The World is Turning Nationalist Populist – Dr Steve Turley

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Newspapers and Academics FINALLY Admit: The World is Turning Nationalist Populist – Dr Steve Turley

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Dr Steve Turley: Newspapers & Academics FINALLY Admit – World is Turning Nationalist Populist !!!

👉 A must listen!!
👉 The world is changing!
👉 Why socialism is dying globally!
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Wat is SESESSIE of AFSTIGTING en hoe WETTIG is die PROSES?

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Wat is SESESSIE of AFSTIGTING en hoe WETTIG is die PROSES?

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Wat is SESESSIE of AFSTIGTING en hoe WETTIG is die PROSES?

👉 Kort, kragtig en tot die punt !
👉 Die oplossing !
👉 ‘n Realiteit !

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Genocide Watch on farm murders in SA – Dr Stanton

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Genocide Watch on farm murders in SA – Dr Stanton

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The Independent Afrikaner Self-determination Expedition (OASE) released this video of Dr. Gregory Stanton, Chairman of The Genocide Watch. News conference at the Transvaal Agricultural Union in Pretoria, South Africa, 2012/07/26

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