Economy

 

It is OK to abuse tax money as long as you beat a ‘deadline’ when a new law comes into effect

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Public officials who abused taxpayers’ money to get themselves government tenders amounting to R48 million are legally off the hook. More than 200 state employees, who were reported to management for dodgy dealings, couldn’t be touched because a new law hadn’t come into effect yet. And government can’t do anything about it, according to Eugene..
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WEF ditched democratic, inclusive pretences by facilitating new G20 privatisation.

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Durban’s World Economic Forum (WEF) Africa conference hosted some of the world’s most controversial politicians last week: not just Jacob Zuma and Malusi Gigaba, Robert Mugabe, Yoweri Museveni, King Mswati and Edgar Lungu, but also the most powerful man in Europe, German finance minister Wolfgang Schäuble. At a lecture on Thursday at the University of..
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Mugabe declared that Zimbabwe most developed country after SA at the World Economic Forum on Africa

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President Robert Mugabe has told the world that his country is the second most developed in Africa in comments that are likely to befuddle suffering Zimbabweans. The Zimbabwean leader is out in South Africa’s port city of Durban, venue for the World Economic Forum on Africa. Reports from the international convention say President Mugabe took..
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Pension funds as much as R560 million may be lost due to fraudulent activities

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BEE administrator loses millions of pension funds – Pension funds of Anglo Platinum, invested in the (BBF), administered by Bophelo Benefit Services, a subsidiary of Mvumonala Holdings, may be lost due to fraudulent activities. It is estimated that as much as R560 million can be involved. Apparently, the company ‘cooked’ its 2016 financial statements to..
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Red HOT news – Wake up! SA has been gutted

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What is left of the South Africa of our dreams? Ask the thief-in-chief What do we have left now? Once there were the Scorpions, a respected crime-fighting unit. The people had faith in them. The corrupt feared them. Jacob Zuma quaked when he thought of them. Then in 2007 he took the reins of the..
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Nuclear deal ruled as unlawful and unconstitutional: Learn all about the dark secrets of this shady deal

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The Western Cape High Court ruled on Wednesday that the South African government’s nuclear agreements with Russia, Korea and the US were unlawful and unconstitutional. In a landmark ruling, the Court also scrapped the South African government’s decision to buy about eight nuclear power stations — 9600MW of nuclear power. This decision was first gazetted..
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Zuma’s plan to boost the economy is just BEE on steriods

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Long live poverty! Where would the rich be without the poor? More particularly, where would Zuma be? Failure to recognise these questions leads to a too easy dismissal of the ANC’s currently loudest and most persistent war-cry: radical economic transformation. Eusebius McKaiser is hardly alone in rubbishing the term as meaningless. Supposedly without meaning, he..
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SA’s struggling economy faces an uphill

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If South Africa staves off a technical recession in the coming months, it will be a result of events unrelated to the country’s domestic political and policy environment. But economists said the more important question is what happens when the lingering positive effects of a recovery end in certain sectors, such as agriculture and mining…
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Department of finance is being run by complete morons

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New finance minister Malusi Gigaba’s key advisor over the weekend published an opinion piece advocating for the nationalisation of mines, insurance companies and the banks, leaving Treasury with a PR disaster on Tuesday. Ok look, a bad PR day for some government departments wouldn’t normally cause too much of a ruckus, except if that department..
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R58.8-million to be given to the Zulu king

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The financial affairs of King Goodwill Zwelithini were once again in the spotlight on Tuesday when Premier Willies Mchunu tabled his office’s budget at the KwaZulu-Natal Legislature. The lack of direction of the Royal Household Trust and lack of accountability and state of the monarch’s farms caused some consternation among the ANC and opposition MPLs…
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