Finance

 

No end to SAA’s nightmares

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The nation’s beleaguered airline has breathing room until October 31 — Halloween, after which its debt demons may return to haunt it with a vengeance. It is understood that most of SAA’s lenders have agreed to roll over the outstanding debt that came due at the end of September for one more month while negotiations..
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SOUTH AFRICA: The Naked Hypocritical Curse Of The ‘Majority Rule’

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WARNING – GRAPHIC CONTENT – NOT FOR SENSITIVE VIEWERS! SOUTH AFRICA is ostensibly a country whose controllers exercise the worst kind of naked racism and discrimination in order to stay in power. South Africa is also furthermore a country with the most vindictive, cruel and racist black population on earth, who refuse to obey any..
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SABC has another problem: people have stopped paying TV licences – wonder why??

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The SABC’s latest annual report shows a drastic decline in revenue from TV licences. According to the 2017 report, revenue of R847.4 million was collected through television licence fees. This figure is R449.4 million – 34.7% – below budget, representing a decrease of R178.5 million – 17.4% – compared to the previous year. “The revenue..
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Government increases vehicle licence fees

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Minister of Transport, Joe Maswanganyi has announced that South African motorists can expect to pay more in national licensing transaction fees in 2018. In terms of The Road Traffic Management Corporation Act, local registering authorities (licensing centres) must pay the Road Traffic Management Corporation (RTMC) a transaction fee for each motorist it processes. This is..
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Car brands Chrysler and Dodge to exit South Africa

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FCA (Fiat Chrysler Automobiles) bids farewell to two of its car brands in South Africa, with the Chrysler and Dodge vehicle ranges no longer being available locally. FCA, which also produces Jeep, Fiat and Alfa Romeo vehicles, said: “This unfortunate situation has arisen from our principals in the USA no longer building Chrysler or Dodge..
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R60m fraud case involving a former Petro-South Africa manager

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The Hawks arrested Petro SA’s corporate social investment manager Matshidiso Mogashoa for alleged fraud of more than R60 million. According to the Hawks, the crimes were committed between 2007 and 2011. Once again the question arises how a person can steal money, and Petro SA takes almost 10 years to realize that the money is..
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OUTA WINS FREEZE ON GUPTA MINE REHAB FUNDS AT BANK OF BARODA

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The Organisation Undoing Tax Abuse (OUTA) won an urgent interim interdict in the Pretoria High Court against the Bank of Baroda, freezing R1.75 billion in the Gupta-owned Optimum and Koornfontein coal mines’ rehabilitation trust fund accounts. “This is another sweet victory for South Africa, with the prevention of Gupta mining trust accounts worth at least..
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SASSA IRREGULAR EXPENDITURE GROWS TO R1.4 BILLION

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In Sassa’s latest financial statements tabled in Parliament on Friday, the Auditor General says the agency did not take effective steps to prevent the irregular expenditure. The Auditor General has deemed the R43 million spent by the South Africa Social Security Agency (Sassa) on so-called work streams to have been irregular. In Sassa’s latest financial..
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National Treasury captured by Finance Minister Gigaba?

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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..
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The true financial cost of Hurricane Jacob

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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..
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