Zuma

 

Z-Day has arrived for Rand!

The countdown has begun as Zuma’s days as President appear to be numbered with the ANC NEC meeting later today.

After the long wait and numerous speculation “Patience” is still key. USD/ZAR opens below 12/$ as EM Markets remain strong regardless of the volatility in global stock markets.

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Rand slides on US inflation fears

The rand weakened overnight as a result of better than expect US Jobs numbers and wage growth released Friday, sparking fears of higher than expected US interest rate increases during 2018.

The US stock market lost 2.5% as investors cashed out to hold USD in anticipation of a Fed hike in March. The GBP/ZAR continues to flirt with the 17/£ level as a false break to 17.10/£ on Friday was given back on speculation over Zuma’s demise.
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South Africans In For R30 Billion Tax Hike For 2018

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The ANC is now pushing for a massive tax hike to fill the holes in our economy, according to a report in Business Tech. It’s unclear whether there are plans to make any additions to Nkandla or if Government is going ahead with JZ’s free education plan. During his mid-term budget speech, Malusi Gigaba said there is an R40..
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Gigaba: SA To Raise Revenue By R15bn In 2018’s Budget To Curb Debt

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South Africa will implement spending cuts of R25 billion rand and raise revenue by R15 billion in next year’s budget to contain growing debt, Finance Minister Malusi Gigaba told Parliament on Wednesday. Gigaba said the extra R40 billion, or 0.8% of GDP, would be used to tackle rising public debt which otherwise could balloon beyond..
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Zackie Achmat: SA is on the verge of ‘chaos’ – Yes we know that already!

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We must accept we are in an extremely dangerous situation where, unless we do something, we will create the moment of chaos.” This is the warning to South Africa from 55-year-old anti-apartheid activist and acclaimed Treatment Action Campaign (TAC) co-founder Zackie Achmat. “Everyone I know, all of us just hope Cyril [Ramaphosa] will win [the..
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ESKOM FACING CASHFLOW TROUBLE – THEN STOP SPENDING MONEY ON BONUSES

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Eskom spokesman Khulu Phasiwe said the firm’s sales growth had been muted while its operating cost was very high and its tariff for the current financial year was low. South Africa’s scandal-plagued power utility Eskom said on Monday it was not insolvent but was facing serious liquidity issues and would be in “trouble” if the..
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Treasury senior official calls it quits as Zuma takeover looms

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Michael Sachs, the head of the budgeting office at the national treasury, has reportedly resigned because of interference in its budgeting process by the presidency. The Business Day newspaper reported on Monday morning that “a joint team from the treasury and the Office of the president” are searching for R40-billion in expenditure cuts from the..
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How you will pay for Zuma’s free education plan

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The government is considering drastic budget cuts to fund free higher education, including cutting social grants, freezing the roll-out of RDP houses and increasing taxes. With the country facing an unpre-cedented R50.8‑billion revenue hole, a treasury document has been put before President Jacob Zuma by the presidential fiscal committee, outlining possible areas where budgets could..
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Zuma’s Mask Slips All The Way As He Shows How Far He’s Willing To Go

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Jacob Zuma drops soil onto the grave of veteran journalist Zwelakhe Sisulu at the West Park Cemetery in Johannesburg. Sisulu was imprisoned during apartheid for voicing opposition to the National Party. The coordinated, yet clumsy and moronic, attempt through the weekend by the State Security Agency and SA Revenue Service to stop distribution of Jacques..
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Charges Laid Against ‘President’s Keepers’ Author Jacques Pauw

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Move comes after repeated threats from State Security Agency Veteran journalist Jacques Pauw, the author of The President’s Keepers, leaves the eNCA offices in Hyde Park, Johannesburg, this week.  Gauteng provincial police spokesman Col Lungelo Dlamini has told TimesLIVE that criminal charges have been opened against investigative journalist Jacques Pauw. TimesLIVE understands the charges against Pauw, author of..
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