For almost a year, National Treasury has kept the lid on almost 200 investigations into PRASA contracts which show that up to R2.5 billion was siphoned off in contracts which should never have been signed. The investigations, into contracts worth R10 million or more, were ordered by former Public Protector Thuli Madonsela following her 2015..
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Grand-scale corruption at PRASA covered up by treasury
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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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Have SITA And SAPS Been Captured? Scopa To Ask Questions About R6.1bn Expenditure
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The State Information and Technology Agency (SITA) appears to have become a site of capture by private interests, two investigations – by IPID and SITA itself – have revealed. The relationship between SAPS, the agency and Keith Keating, director of FDA and two other companies, Investigative Software Solutions and Risk Diversion Digital, also owned by..
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S&P Downgrades South Africa To Full Junk Status As Rand Slides
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S&P Global Ratings on Friday evening lowered its long-term foreign currency sovereign credit rating on the Republic of South Africa to ‘BB’ from ‘BB+’ and affirmed the ‘B’ short-term foreign currency sovereign credit rating. The outlook is stable. At the same time, the long-term local currency sovereign credit rating was lowered to ‘BB+’ from ‘BBB-‘..
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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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ANC regime is the reason why South African citizens live in poverty
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Two equal evils, poverty and inequality lie at the root of South Africa’s economic problems. Both should be treated equally. If the focus is only on inequality, it will create an economy where everyone is equally poor, except the elite which holds power, said adv. Anton Alberts, chairman of the FF Plus. Adv. Alberts said..
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Don’t be fooled by Ramphosa’s ‘New Deal’ or NDZ’s ‘radical economic transformation’
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It is now abundantly clear that the race to succeed Jacob Zuma as ANC president next month is between his deputy, Cyril Ramaphosa, and Nkosazana Dlamini-Zuma — the president’s former wife and preferred successor. No one else matters. All our attention should be focused on these two. Not that the other supposed candidates for the..
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Officer investigated for fraud was nominated for trip to France
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Instead of suspending a high-ranking police officer who is under investigation for fraud, the police wanted to send her on a trip to France. The Portfolio Committee on Police on Wednesday took a dim view when acting head of crime intelligence Major General King Bhoyi Ngcobo – who has been described in the press as..
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No Tax Revolt Coming To South Africa – Gigaba – What About Zuma?????????
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‘We will revolt against those who revolt against paying taxes,’ says Gigaba. South African Finance Minister Malusi Gigaba presented the 2017 Medium-Term Budget Policy Statement (MTBPS) in Parliament on Wednesday. Finance Minister Malusi Gigaba says that he does not foresee a “tax revolt” among South African citizens who are fed up with corruption and government’s..
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South Africa Is On The Path To Zimbabwe If We Don’t Act Now
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Despite being called ‘hysterical‘ for warning people to get the money out of South Africa, economist Dawie Roodt insists that he is being completely responsible in warning citizens about the dark path the country is on. In a column published on Tuesday, Roodt said that South Africa is on the same route that many countries have..
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