Economy

 

Medium Term Budget Policy Statement  2017 Reveals The Full Horror Of Jacob Zuma’s Catastrophic Mismanagement Of The Economy In South Africa

Leave a comment

The Minister of Finance, Malusi Gigaba’s, “maiden” medium-term budget policy statement exposes the full horror of President Jacob Zuma’s catastrophic management of the economy in South Africa. The minister’s medium-term budget policy statement reveals a full-scale budget “blow out” with: **  a massive revenue shortfall of R50. 8 billion, which is the largest revenue shortfall..
Continue reading…

Enjoyed this post? Share it!

 
 

The only thing falling faster than the Rand is the Presidents eyelids: Zuma caught napping during Gigaba’s mini budget speech

Leave a comment

A screenshot of Jacob Zuma taking a nap during Malusi Gigaba’s mini-budget speech has gone viral. Gigaba delivered his “maiden” budget speech on Wednesday – and the forecast was pretty grim. But if you’re hoping that President Jacob Zuma was going to zoom in to try and boost the confidence of consumers and investors, you’re..
Continue reading…

Enjoyed this post? Share it!

 
 

Junk status looms after mid-term budget fails to inspire confidence – It is not looking good for SA

Leave a comment

Economists have warned that South Africa could be in line for a credit downgrade to junk status – possibly before the end of the year. Their fears come in light of Malusi Gigaba’s mid-term budget speech, delivered to parliament on Wednesday. “It is not in the public interest, nor is it in the interests of..
Continue reading…

Enjoyed this post? Share it!

 
 

Gigaba’s first test: Can he ace the mid-term budget?

Leave a comment

Finance Minister Malusi Gigaba is in an unenviable position. In his maiden budget – today’s medium-term budget policy statement – he must confront, among other things, low economic growth, a tax revenue hole big enough to fly a plane through and the budgetary consequences of struggling state-owned enterprises. These issues are some of the chief..
Continue reading…

Enjoyed this post? Share it!

 
 

Sars’ brand diminished by unskilled staff

Leave a comment

For every step in the right direction, Sars manages to tumble down two. The Tax Ombud is slowly gaining ground in assisting taxpayers in resolving their tax differences with Sars. Unfortunately, these “tax differences” are frequently of Sars’ making, and as Sars slips further behind in the revenue target, so can we expect an exponential..
Continue reading…

Enjoyed this post? Share it!

 
 

Banks go on the offensive to parry political attacks

Leave a comment

South Africa’s banks have gone on the offensive after being criticised by some politicians over their lending practices and records in addressing racial inequality. Attacks on the lenders have been led by Jacob Zuma, who’s accused them of monopolising the financial services industry, and questioned whether they colluded when closing accounts belonging to members of..
Continue reading…

Enjoyed this post? Share it!

 
 

Zuma Judgment – All Eyes Now On Shaun ‘The Sheep’ Abrahams And Cyril Ramaphosa

Leave a comment

While our Constitution is considered one of the most progressive in the world, it has glaring flaws that have allowed it to be grossly abused by a President whose actions now threaten his entire party. Or perhaps put more accurately, they threaten the moral legitimacy and fibre of an organization that once prided itself on..
Continue reading…

Enjoyed this post? Share it!

 
 

UK to probe European banks linked to SA state capture

Leave a comment

A complaint about European banks who may be involved in the illicit financial flows of state capture in South Africa has been forwarded to two law enforcement agencies in the United Kingdom, leaving these banks open to investigation and prosecution. The Chancellor of the Exchequer Philip Hammond forwarded a message about banks based in the..
Continue reading…

Enjoyed this post? Share it!

 
 

SOUTH AFRICA: The Naked Hypocritical Curse Of The ‘Majority Rule’

6 Comments

WARNING – GRAPHIC CONTENT – NOT FOR SENSITIVE VIEWERS! SOUTH AFRICA is ostensibly a country whose controllers exercise the worst kind of naked racism and discrimination in order to stay in power. South Africa is also furthermore a country with the most vindictive, cruel and racist black population on earth, who refuse to obey any..
Continue reading…

Enjoyed this post? Share it!

 
 

The true financial cost of Hurricane Jacob

Leave a comment

Over 1 month, six months, one year, three years and even five years. In rand as well as US dollars. Against the developed world and now also against the emerging market world. Take your pick; it doesn’t matter. These are the current facts of the returns of the Johannesburg Stock Exchange relative to the major..
Continue reading…

Enjoyed this post? Share it!