Posts tagged with 'Transnet'

 

Zuma’s Nkandla is Nothing Compared To Ramaphosa’s Pension Grab! Transnet Pension Debacle 2.0 Will Impoverish Twice More Blacks Than Whites & Will Encourage More Eskom Corruption!

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#PensionCapture – As certain as we were told by mainstream media that there were WMD’s in Iraq, Ramaphosa’s proposed pension plunder will also be propagandised into appearing as a good idea by the establishment, who will frogmarch South Africa into allowing them to steal from the many, to give to themselves and their cronies. There are also two silent partners pushing this scheme, namely the banksters, who stand to make serious commissions, and also rescue their bad loans to a bankrupt Eskom, and possibly extend this plunder to other bankrupt parastatals (who they also lent money for), once they have pried open the door to SA’s last pot of gold, and then of course there is the ANC’s ever present shoulder parrot, the South African Communist Party, who is never far.

One of the Establishment’s complicit yesmen, News24’s Editor, Adriaan Basson, wrote an article which appeared in Naspers’ left wing News24, in which he writes about a briefing that Ramaphosa gave to journa
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#CelebrityDespots Why Do Black Eskom Workers Love Brain Molefe, Who Helped Guptas Plunder Transnet & Put Eskom R450 BILLION in Debt & Was Paid R2 Million a Month Pension?

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AFRICANS LOVE THEIR DESPOTS: Black Eskom Workers who are members of the Government Pension Scheme and the powerful COSATU trade union, are allowing (unwittingly or not) Cosatu to allow the ANC regime to grab R254 Billion from their own pension fund, the GEPF, and they even supported Brian Molefe, ex Eskom CEO, who helped the Guptas put Eskom into R450 Billion debt, with song and dance!

Reminiscent of the poor downtrodden Zimbabweans, who despite being oppressed and fleeced by Mugabe, still hailed him as the “Lion of Africa”, the jubilant crowd consisting of hundreds of black Eskom workers, welcomed Brian Molefe back to Megawatt Park after he was appointed Eskom CEO for the second time back in May 2017.

His re-appointment followed after his quickly arranged 3 month stint as Parliamentarian. Molefe was already well known as the chief Gupta enabler in his positions as Transnet and Eskom CEO at the time of his thunderous welcome back to Megawatt Park. This after Mole
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Chinese company told to stop building Transnet trains – including notorious R54.5bn procurement contract for 1,064 locomotives

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State-owned logistics company Transnet has ordered Chinese locomotives company CRRC-E Loco to “cease activities” at its Pretoria Koedoespoort plant, where locomotive manufacturers, contracted as part of a group of companies to assemble locomotives, are based.

Mncedisi Ndlovu & Sedumedi (MNS) Attorneys, representing Transnet, last week sent letters to lawyers representing the Chinese electric locomotives manufacturers, instructing them to stop manufacturing the locomotives “with immediate effect”.

The company has been told to stop building pending the outcome of a review application of the notorious R54.5bn procurement contract for 1,064 locomotives. The contracts have already been declared irregular and unlawful.

CRRC-E Loco is the merger of China South Rail and China North Rail, which won three tenders worth more than R25bn to supply Transnet with locomotives. The first was for 95 locomotives, worth R2.7bn, the second for 100 locomotives, worth R4
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Transnet wasted almost R50 billion, most of which is used to buy trains that cannot be used in SA

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State-owned entities are currently under considerable pressure and there is doubt as to how many of them have the ability to continue without the necessary financial assistance.

This is the opinion of Auditor-General Kimi Makwetu, who last week released a national and provincial auditor’s report for the period 2028-2019 in Cape Town.

He says there are weaknesses in the performance of many entities and the roughly 14 state-run institutions that are heavily subsidized by the state and the ANC government apparently did not contribute much to improving their results.

The 14 institutions also spent R1.4bn on illegal spending, and may be further investigated with further investigations.

Denel, the SABC, SA Express shipping company, and the SA Forestry Company are some of the biggest offenders of wrongful expenses incurred.

With Transnet wasting nearly R50bn, the bulk of which has been used to buy trains that cannot be used in SA, along with Eskom’s nearly R7bn
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14 SOEs rack up more than R1.4 billion in irregular expenditure

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Auditor General (AG) Kimi Makwetu said not one of the 14 big state-owned entities (SOEs) audited by his office received a clean audit, a poorer outcome than last year.

Makwetu was revealing the results of the national and provincial audits for the past financial year at Parliament on Wednesday. He said the financial health of SOEs remained under significant pressure with doubts about whether they could continue operating without further financial help from the government.

Makwetu said the 14 SOEs notched up R1.4 billion in irregular expenditure but warned this figure could rise as four of them – Denel, the SABC, SA Express and the SA Forestry Company could not make full disclosure on this.

Meanwhile, irregular expenditure racked up by Transnet (R49.9 billion) and Eskom (R6.6 billion), who have private auditors, amounted to R57 billion.

“The SA Post Office, for example, has slipped back to a qualified opinion and the Development Bank of SA regressed to a
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Trade unions are rejecting ANC’s plans to sell non-performing SOE’s

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All indications are that the ANC is prepared to execute the Tito Mboweni plan and sell the non-performing entities.

For the ANC it is like swallowing a prickly pear with thorns and all, because it is a testament to their inability to run certain entities profitably.

The Ramaphosa government faces an enormous fiscal dilemma, and the sale of various entities will not only be humiliating, but will also leave many ANC senior workers unemployed when private entities take over the entities.

However, the question is whether Cosatu and other unions will agree to such a move, knowing that their own members may lose their jobs because it is known that the state entities are not profitable because too many people are employed was taken.

Institutions such as Denel, SAA, Eskom, Transnet, and various other entities are likely to come under the “selling spotlight” when negotiating with the unions that will oppose the idea.

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Only in SA and probably a World First! – Prasa Train worth R50 Million was stolen in Umkomaas on Natal South Coast

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A train belonging to the Passenger Rail Agency, a division of Transnet, was stolen from the Umkomaas railway depot and driven to Ilfracombe Station.

The two thieves whom stole an empty commuter train from a depot , took it on a 12km joy ride from eMkhomazi to Umgababa on the KwaZulu-Natal South Coast, leaving security guards shocked and embarrassed. The incident, left Prasa red-faced and investigating how the two men tricked the guards.

The two suspects allegedly drove the train all the way to Umgababa, and when it stopped they jumped out and fled into a nearby forest while being pursued by security guards.

According to an employee, who asked not to be named, the train only stopped when it lost momentum in an uphill area.
Another Prasa employee, working on the railway line at the time of the incident, expressed her shock.

In a social media post, the employee said she believed those behind the train theft were whoonga addicts.

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