Posts tagged with 'Africa'

 

De Ruyter has an impossible task of saving bankrupt Eskom

Posted on Leave a comment

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
Continue reading…

Enjoyed this post? Share it!

 
 

Stellenbosch University is being accused as a racist institution after previously disadvantaged groups are flaunting allegations left and right

Posted on Leave a comment

Students are once again obsessed with the so-called racism used by whites and complain about things that have nothing to do with racism, says an educator who wants to remain anonymous.

One white man speaks to other whites on campus, ignoring the other coloured people who join it, and it is now called racism, it is said.

The whites also do not share their knowledge of a particular subject’s content with other students, except with their friends who are also whites.

One student complains that her roommate, who is white, does not speak to her father because she is black, and considers it a serious offense of racism.

Educators believe the complaints of other coloreds are considered to be those of people with an inferiority complex and should seek the fault within themselves. After all, it is logical for people to be more positive towards their own friends than to strangers.

Continue reading…

Enjoyed this post? Share it!

 
 

Bankrupt power supplier is struggling to maintain electricity grid and diesel generator units are used to prevent #rollingblackouts

Posted on Leave a comment

Eskom has now gone so far as to use its emergency reserves in an effort to evade load shedding.

The diesel generator units have been used to prevent the burning of candles, but the diesel fuel bill is already more than 50% over the entity’s allowable diesel consumption according to its budget.

Workers claim they worked hard on Wednesday night to pump water so the entity on Thursday could avoid shedding.

Observers believe these are probably the first signs of a new breeze blowing through Eskom, as no one has taken much responsibility to date on whether to light the candles and when it’s going to change.

Last year’s load shedding cost Amcor about R740m, directly affecting the net profit to be shown at the end of a financial year.

Continue reading…

Enjoyed this post? Share it!

 
 

ANC regime has driven SA into bankruptcy over a 25-year period

Posted on Leave a comment

The extremely dire situation in which South Africa finds itself has raised the question of whether it is not yet time to make a survey of everything that has been destroyed in 25 years.

A political analyst points out that the first red light came on when municipalities across the country, all of which had cash stashed  up over years, suddenly turned red in the face of bankers.

Today, there is probably not one municipality that is either totally bankrupt, or hesitates on the brink of bankruptcy.

The debt burden of billions of rand in municipal structures is one of the surest ways that South Africa will look just like Zimbabwe in the foreseeable future – tar roads become dust roads, light fires sometimes, and businesses close their doors, one sooner than the other.

The government is in the same position – the latest shock is that the government has failed to raise R2bn so that the bankrupt SAA can resume its flights.

SAA
Continue reading…

Enjoyed this post? Share it!

 
 

Why do people vote for same leaders who don’t deliver services?

Posted on Leave a comment

Service delivery protests in South Africa are continuing as different municipalities fail to deliver their mandate of providing basic services to their communities.

The Maluti-A-Phofung municipality in Free State has not supplied water to Qwaqwa since last year December and tensions flared up when a young girl drowned while trying to collect water from a nearby river.

Communities such as as the Enoch Mgijima Local Municipality in the Chris Hani District of the Eastern Cape have also experienced a billing crisis which has not been solved in years.

With all these service delivery problems, Bongani Bingwa questions why many people in these communities continue to vote for the same leaders that do not deliver services.

He chats to North-West University public policy lecturer and Thabo Mbeki School of Leadership visiting lecturer TK Pooe to unpack this matter.

I always say this, in public policy ours is not to tell people who to vote fo
Continue reading…

Enjoyed this post? Share it!

 
 

SA’s high unemployment rates are swept in front of Eskom’s door

Posted on Leave a comment

Mining houses and corporate businesses are accusing Eskom for the high unemployment rates since their pathetic service delivery is causing uncertainty in the economy.

Several institutions announcing in recent weeks that they would need to start retrenchments, unemployment has increased alarmingly rapidly and even greater retrenchments are provided.

The uncertainty caused by Eskom in the supply of electricity has forced many mining houses to generate self-sufficient power, but which is far more expensive than using the national power supply.

Eskom is also accused of being directly responsible for the poor economic situation and the fact that foreign investors are not interested if power supply cannot be guaranteed in South-Africa.

Unemployment has now reached the 29% level, which is the highest in history, and employment is estimated at 52% according to figures applicable for December.

Continue reading…

Enjoyed this post? Share it!

 
 

Eskom cannot deliver sufficient and sustainable power, ANC regime now approves alternative options

Posted on Leave a comment

The ANC regime has finally realized that Eskom is unable to provide sufficient, and sustainable, electricity to consumers.

The news that the government has agreed that municipalities may start their own power supply is a complete turnaround in policy and is also contrary to the AMC-SACP alliance’s communist approach to control everything for everyone.

There are suspicions that several larger municipalities will do their homework, but informed sources believe the new step could lead to greater corruption and poor service delivery since no municipality has the skills to set up and operate its own power plant.

 

Continue reading…

Enjoyed this post? Share it!

 
 

SA chrome firms warn of more than 1,200 job cuts – Eskom’s unreliability and rising tariffs were some of the main reasons for the layoffs

Posted on Leave a comment

Joint venture partners Glencore and Merafe Resources could cut up to 665 jobs and have started consultations with workers at their Rustenburg ferrochrome smelter.

Local chrome firms on Monday warned of more than 1,200 potential job cuts, citing power cuts, rising electricity tariffs and increased competition from overseas.

The potential layoffs highlight the risks posed to Africa’s most industrialised economy by struggling state power utility Eskom, which is struggling with breakdowns at its coal-fired power plants and is mired in a financial crisis.

They also pile more pressure on President Cyril Ramaphosa’s government, which is trying to contain 29% unemployment.

Joint venture partners Glencore and Merafe Resources could cut up to 665 jobs and have started consultations with workers at their Rustenburg ferrochrome smelter.

“The consultation process is as a result of deteriorating operations and market conditions across the
Continue reading…

Enjoyed this post? Share it!

 
 

R11m from SA Lottery goes to cousin of National Lotteries Commission boss

Posted on Leave a comment

The National Lotteries Commission has given more than R11m to a non-profit organisation (NPO) called I Am Made for God’s Glory, which has in turn paid R2m to a private company of which the sole director is the cousin of the chief operating officer of the National Lotteries Commission.

According to leaked bank statements, R2m was paid to Upbrand Properties by I Am Made For God’s Glory (IAM4GG), which received a R11 375 000 grant from the Lottery to develop an “integrated sports facility” in Limpopo.

The sole director of Upbrand is Kenneth Tomoletso Sithole, first cousin of NLC chief operating officer Phillemon Letwaba.

GroundUp has previously revealed how Upbrand received a R15m contract to build a rehabilitation centre near Pretoria at a time when Letwaba’s brother, Johannes “Joe” Letwaba, was a director of the company. Johannes Letwaba subsequently resigned, leaving Keneilwe Constance Maboa, the wife of Karabo Sithole, another fi
Continue reading…

Enjoyed this post? Share it!

 
 

Cash-strapped SAA cancels 38 domestic and international flights

Posted on Leave a comment

SAA has confirmed its cancellation of 38 domestic and international flights between OR Tambo International Airport and Cape Town, as well as between Johannesburg and Durban’s King Shaka airports.

In a statement, the airline said: “These decisions are in line with SAA’s usual policy of reviewing flights and consolidating services with low demand. Furthermore, during the current process of business rescue, these cancellations represent a responsible strategy to conserve cash and optimise the airline’s position ahead of any further capital investment.”

The airline said it would be reviewing further schedule amendments over the coming days and would communicate any operational changes to its customers.

Those who have already booked the cancelled flights will be re-accommodated on alternative services including Mango.

Below is a list of all the cancelled flights:

The following domestic flights operated by SAA have been cancell
Continue reading…

Enjoyed this post? Share it!

 
 

Alexkor, SA state-owned diamond company is on life support

Posted on Leave a comment

South Africa’s state-owned diamond mining enterprise Alexkor is desperately in need of cash to pay expenses, but does the struggling entity deserve more funding?

Its marine-based concessions stretch from Alexander Bay to Port Nolloth, while its land-based concessions span the equivalent of 865km2. It mines the latter through its Pooling and Sharing Joint Venture (PSJV) with the Richtersveld community.

Despite carat sales having increased from 41 941 units to 70 061 in the year to end-March 2019, diamond sales only amounted to R209.9 million (2018: R208.7 million). Cost of sales was R152.9 million (2018: R126.8 million).

The reasons given for this poor performance: an oversupply of diamonds in the market, as well as the quality and size of the diamonds produced.

Land and shallow water diamonds achieved an average of $456.77 per carat (2018: $718.86), while diamonds from its deep water mining concession achieved an average price of $305.6
Continue reading…

Enjoyed this post? Share it!