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

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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..
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FeesMustFall protests descend into chaos in Cape Town

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A third wave of #FeesMustFall protests has been marred by violence, as the demonstration marched its way to Parliament. The students are demanding the release of the fees commission report, which details funding of tertiary education. These protesters have made a slashing of tuition fees their main issue to raise, on the day Finance Minister..
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Junk status looms after mid-term budget fails to inspire confidence – It is not looking good for SA

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

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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..
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BLSA tells Eskom: ‘You remain suspended’

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Business Leadership SA on Monday reiterated the suspension of Eskom from the organisation. BLSA said it is holding high-level discussions with Eskom’s acting CEO‚ Sean Maritz‚ regarding serious allegations of corruption and state capture that had led to the suspension of the power utility from the organisation. “The first of these meetings was held on..
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DA’s Hellen Zille is a follower of George Soros

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And just look at who, 10 years ago, acknowledged that she served on George Soros’s advice for the Open Society Foundation! Insights into Helen Zille’s background and her philosophy. Moneweb: Here in South Africa the Open Society Foundation was founded By George Sores, who’s well know in financial circles. But you also played a quite..
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Sars’ brand diminished by unskilled staff

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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..
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Banks go on the offensive to parry political attacks

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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..
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Former Eskom CEO approved R66-million deal that benefited his sister – No end to corruption

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Former Eskom acting CEO Matshela Koko has been found to have “personally signed off on a deviation order that allowed his stepdaughter’s company Impulse International, to score a R66m deal from Eskom without going out to tender.” Business Day reported on Thursday that they had obtained a copy of a confidential “sole source justification” memo…
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Dudu Myeni finaly fired as SAA chair

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Dudu Myeni has been removed from the board of South African Airways in what could be a range of changes made to the leadership of the embattled airline. The Mail & Guardian understands that Myeni will be replaced by businessperson JB Magwaza who has been appointed as the new board chairperson. It appears that members..
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