Posts tagged with 'SOUTH AFRICA'

 

National Treasury captured by Finance Minister Gigaba?

Leave a comment

Officials in the Treasury accused the finance minister, Malusi Gigaba, of hijacking the treasury by running a parallel administration. This he did by appointing about 20 confidants in his office. In this public attack on Gigaba, it is claimed that he decided to delay a forensic investigation into Eskom contracts with Tegata. The allegation also..
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!

 
 

Zwelithini ‘not paid what he deserves’ as a king – You got to be joking

Leave a comment

IS HE WORTH IT? King Goodwill Zwelithini’s family has grown over the years, and with it the amount the taxpayer continues to fork out to fund it Zulu King Goodwill Zwelithini has lashed out at the provincial government‚ accusing them of failing to pay him what he deserves. The monarch was speaking at a King..
Continue reading…

Enjoyed this post? Share it!

 
 

Energy minister slips up on oil plan

Leave a comment

Minister of Energy Mmamoloko Kubayi is backtracking on the investigation into the sale of the country’s oil reserves, say highly placed sources. But the minister has denied this outright. In May, Kubayi announced in Parliament that she would investigate the controversial sale by the Strategic Fuel Fund (SFF) of 10-million barrels of the country’s fuel..
Continue reading…

Enjoyed this post? Share it!

 
 

EXCLUSIVE: Cash Paymaster Systems made R1-billion profit paying social grants

Leave a comment

Over the past five years Cash Paymaster Systems recorded a pre-tax profit of R1.1-billion from paying social grants on behalf of the government, the outsourced service provider told the Constitutional Court on Tuesday. After tax the net profit came to R705-million, the now infamous American-listed company said. That translates to a profit to shareholders of..
Continue reading…

Enjoyed this post? Share it!

 
 

Can we believe this: ‘I didn’t conspire with Zuma’ – Mkhwebane

Leave a comment

Public Protector Busisiwe Mkhwebane has denied conspiring with the presidency and State Security Agency‚ saying her office remains independent. In papers filed in the High Court in Pretoria‚ the Reserve Bank accused Mkhwebane of meeting with President Jacob Zuma’s office and the State Security Agency before releasing her report on missing apartheid funds. The report..
Continue reading…

Enjoyed this post? Share it!

 
 

Minister’s Benz: Going… going … gone …. for R10!

Leave a comment

A Mercedes-Benz sedan belonging to Defence and Military Veterans’ Minister Nosiviwe Mapisa-Nqakula was sold for a lousy R10 during an auction in King William’s Town on Thursday morning. This after it was placed under the hammer after Mapisa-Nqakula had failed to settle a R50000 debt to a King William’s Town garage which had worked on..
Continue reading…

Enjoyed this post? Share it!

 
 

Johan Rupert: “Radical economic transformation is just a code word for theft”

Leave a comment

South Africa’s richest man Johann Rupert said “radical economic transformation,” the policy championed by the country’s President Jacob Zuma to reduce racial inequality, is no more than theft. “Radical economic transformation is just a code word for theft,” Rupert said on the sidelines of Richemont’s annual general meeting in Geneva on Wednesday. “That’s what’s happening..
Continue reading…

Enjoyed this post? Share it!

 
 

SAA cash crunch deepens as suppliers have still not been paid

Leave a comment

South African Airways (SAA) appears to have exhausted its available cash reserves following news that suppliers have still not been paid for work done in July. The airline has thirty-day terms with a number of suppliers that provide essential services to it. They had not been paid at the end of last week, a week..
Continue reading…

Enjoyed this post? Share it!

 
 

Unemployment fund’s assets currently valued at R110bn – Hopefully the government will keep their hands off

Leave a comment

The Unemployment Insurance Fund (UIF) currently has assets valued at R110-billion‚ Labour Minister Mildred Oliphant disclosed on Monday. In a written reply to a parliamentary question by Democratic Alliance labour spokesman Michael Bagraim‚ Oliphant said that while the projected monthly contributions from September 1 2017 to August 31 2018 were expected to total R1.58-million‚ the..
Continue reading…

Enjoyed this post? Share it!