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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ESKOM FACING CASHFLOW TROUBLE – THEN STOP SPENDING MONEY ON BONUSES
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What is the ANC learning from the private sector
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Within the past few days, former president Kgalema Motlanthe said it would be good if the ANC was voted out of office (good for the ANC, that is), the outspoken MP Makhosi Khoza resigned from Parliament and from the ANC, and the Bank of Baroda won a court case to allow it to stop being..
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Johan Rupert: “Radical economic transformation is just a code word for theft”
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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..
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ANC Ekurhuleni backs Nkosazana Dlamini-Zuma
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The ANC Ekurhuleni region announced that it will back former African Union (AU) Commission chairperson Nkosazana Dlamini-Zuma as their candidate to succeed Jacob Zuma as the next party president. Briefing journalists in Benoni on Tuesday, ANC regional chairman Mzwandile Masina said the regional general council currently underway, has resolved that Dlamini-Zuma was the best candidate..
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Guptas get bailed out of another SA business after Swiss Company is investing R2,97b
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Oakbay flogging Tegeta for amazingly quick profit of nearly R800million. A United Arab Emirates businessman using a Swiss shelf company is investing R2.97-billion to buy the Gupta family’s Tegeta mining company, which is under investigation for dubious dealings in its purchase of the Optimum colliery. Tegeta Resources and Exploration will be sold by Oakbay Investments,..
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SARS feeds Guptas and ANC
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A Parliamentary Question from the FF Plus regarding complaints received from the taxpayer (SARS) since the tax ombudsman came into existence indicates that everything is not well in SARS and that this service can become less and less trusted in dispute with Taxpayers themselves. Adv. Anton Alberts, the FF Plus parliamentary spokesman for finance, asked..
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Current climate at SARS is one of fear and loathing
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SARS spokesman Luther Lebelo went on Radio 702 on Friday to rubbish media reports and clear up perceptions over SARS and its Commissioner‚ Tom Moyane. Lebelo‚ who becomes increasingly agitated as the interview with Stephen Grootes progresses‚ was vehement in defending Moyane over a trip to Dubai in December 2015 and also speaks about the..
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Gigaba wants to withdraw Treasury’s report on Eskom’s coal supply agreements
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Finance Minister Malusi Gigaba has told Parliament the Treasury’s damning report on Eskom’s coal supply agreements with Tegeta Exploration and Resources had been mistakenly marked as “final” and had to be withdrawn. The Treasury sent the report to the standing committee on public accounts, but now said it had not been finalised, according to Gigaba’s..
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Black-owned And Led Institutions Have A Legacy of Corruption – EFF
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The Economic Freedom Fighters (EFF) says black-owned and led institutions in South Africa are known for their legacy of nepotism, corruption and kleptocracy. EFF made the assertion while it was celebrating the VSB Mutual Bank decision to shut the Gupta’s business accounts. Earlier this month, it emerged that the VSB Mutual Bank closed the accounts..
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