Posts tagged with 'New South Africa'

 

SAA crisis becomes ANC nightmare – No banking institution wants to borrow R2 billion for bankrupt government-controlled entity

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The competition to get SAA free will now begin, which the weakest state-controlled entity now has literally no value.

The government’s inability to live up to its promise and make another R2 billion available to SAA as the largest rescue buoy has now made the entity very shaky.

Salaries for January can still be paid, but after that it will struggle, and in the meantime Minister Tito Mboweni is trying to convince all the bankers in the country to borrow the R2 billion.

Approximately 12 flight routes were abolished, destroying thousands of people’s travel plans and those who were prepared had to be content to get on with Mango Shipping.

A week of complete chaos is over, but the outlook for this week is as bleak as it was last week.

According to press reports, it appears that many ANC members of parliament are in favor of liquidating the SAA to lighten the load on the state coffers.

Now, a new shipping company is co
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Liquidation of Gupta company, Oakbay back on the table

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The Tegeta Exploration and Resources has again filed an application for liquidation from the Gupta company, Oakbay Investments.

The Tegeta institution has gone on a hunt for the R402 loan from the Gupta company, which has been in disarray in recent months.

Tegeta claims that the Guptas ‘family business’ Oakbay Investments, as an entity owes him R400m.

In the documents filed with the Johannesburg High Court, Tegeta argues that Oakbay is liquidated as he is not in a position to settle his debts.

The Guptas currently living in the Emirates have already been auctioned off in Johannesburg and sold to pay off outstanding debts, but attempts to get them extradited to SA have been unsuccessful until now.

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Future of SA is bleak after ANC-regime ruled a once model state into junk status and sh*thole

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It is clear that South Africa has become so fragile in the financial field that overall poverty, with the exception of a few wealthy people, will lead to the necessary change in governments.

Who will be the new rulers is currently a widely debated topic, but there is also the feeling that the ANC will remain in control at the national level.

The official opposition parties may form a government as a coalition, but in Africa it does not work, and such a merger will only provide temporary solutions.

However, it will not provide solutions that will bring South Africa back on the road to success, as none of the smaller parties has the strong leaders to protect the country from corruption, money laundering, murder, and dozens of other problems.

Whoever takes over from the ANC will do nothing better than today’s weak rulers.

The possibility of a homeland for the Boer-Afrikaner is the only way to set up a good government that will,
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SAA’s wings cut – bankrupt SOE can only pay salaries in January

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The bankrupt, state-owned SAA airline company will manage to pay its staff salaries for January, but that’s where it all ends.

With a bankrupt government failing to fulfill its pledge to pump another R2bn into the soe, it looks as if SAL will not remain standing.

The airfreight company faces three serious problems, and the solutions to this are vague and unclear, as different measures could not create a better situation.

The SAA needs at least R2bn to get its planes up, but with the many cancellations it has had to announce, its passengers are becoming less and less and profitability is becoming almost impossible.

The government’s inability to borrow R2 billion from any banker in the country has failed, which is now seen as a vote of no confidence in the financial approaches the regime is following.

It can inflict a final blow.

The large number of workers who should never have been hired is another reason why the
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Only 15% of CEOs are still positive about SA’s economic outlook

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This is a slim 15% of CEOs who still have a positive outlook on the South African economy’s outlook.

They are still very confident and confident about what their companies’ return will be in the coming financial year.

However, the growth rate that has almost reached zero point speaks to a different view, in which more than 80% of business leaders are deeply concerned about the state of affairs.

Growing pessimism, even among those who normally remain positive, is now noticeable, and many believe their well-built businesses are no longer as secure as they were a few years ago.

A company that gives advice to businesses and their CEOs says the number of organizations that still have confidence is diminishing each month, while companies are experiencing almost daily decline in turnover.

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Are the nails in the coffin for controversial Public Protector?

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The controversial Public Protector, Busisiwe Mkhwebane, appears to have counted the days when considering the reaction of certain members of parliament after the matter of her eligibility as OB was tabled.

The National Assembly’s speaker, Thandi Modise, approved that Parliament follow the procedures that could lead to the OB’s dismissal.

Busisiwe Mkhwebane is probably the most important reason why the parliament in 2019 laid down rules to be followed when removing the OB from office.

The process is apparently underway, and opposition parties, excluding the Red Brigade, are expected to strongly demand that she be removed from her post, especially in light of the numerous court cases she lost due to incorrect information being investigated reports were recorded.

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Black businessman Patrice Motsepe was elected to the World Economic Forum in Davos 

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Billionaire Patrice Motsepe was elected to the board of the World Economic Forum in Davos at the gathering last week.

Motsepe is a businessman and founder of African Rainbow Minerals, of which he is also the executive chairman.

The announcement comes via social media after a storm erupted because he said earlier that South Africa loves Donald Trump.

During the Davos meeting, the billionaire had the opportunity to enjoy a luxury dinner with the US President.

While talking to President Trump, he said they do business with 50 countries, and he has the privilege of being one of the 100 biggest business brain powers that may now be with the president.

“And Africa lo
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Man driving 309 km per hour on public road, arrested

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The owner of an Audi TT, the exceeded the speed limit in a 120 km zone by driving 309 km per hour on a public road where he was caught.

Initially, the driver was suspected of driving away, but the traffic crews identified the car registration and the type of vehicle.

This enabled them to trace the owner’s address and called on him to surrender himself to the police.

Over the past weekend he was arrested for the “terrifying speed” he was driving in the Midrand area.

The culprit, whose name may not be disclosed, is the 36-year-old owner of the fast-paced Audi, who was apparently on his way to a funeral.

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Calls for Death to Americans at US Embassy in South Africa – SACP chant ‘One American, one bullet’ outside US embassy in Pretoria

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A threat of “one bullet, one American” was chanted outside the US embassy in Pretoria on Thursday, where hundreds of protesters gathered to protest against the US foreign policy in the Middle East.

“The Americans are the biggest terrorists in the world. They are responsible for terrorism in Cuba, Venezuela and many other countries in South America. Now they have decided the Middle East is their base. Our message is that there is no home for you, otherwise you will go home in chests. Soon you will hear the slogan ‘one bullet, one American’, “said Shuaib Booley, chairman of the Ahlul Bayt Islamic Council of South Africa, with loud cheers from the crowd.

Booley led the crowd in cries of “Allahu akbar” (God is great) while embassy workers watched the demonstration from a distance. Officials later stopped Booley before he could enter the building as part of a delegation that would hand over a memorandum.

Al
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De Ruyter has an impossible task of saving bankrupt Eskom

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The fact that Eskom is in a bad position is common knowledge, and this news are reaching investors abroad. The dire condition of SA’s economy makes investors hesitant to invest in the country since they will be risking their money in the maze.

After the ANC regime finally realized, after 25 years of mismanagement, that they needed to find a competent person to get rid of the mess, Andre de Ruyter was appointed to the unenviable position.

His statements about Eskom are by no means flattering, and how such an enormous debt burden will be worked out, providing constant, sustainable power to the whole country, was asked too much from one person.

His meeting with the Eskom directors on Wednesday is likely to deal with the many “unplanned maintenance” that needs to be done, and clearly shows that regular checking of equipment is not done.

This is one of the main reasons why Eskom cannot provide sustainable power supplies, and expe
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