Posts tagged with 'Cyril Ramaphosa'

 

Cyril who? US reporter refers to Ramaphosa as ‘unidentified leader’

Posted on Leave a comment

An American journalist has drawn the ire of South Africans after she tweeted a picture of world leaders at the G7 Summit in Biarritz, France, identifying three heads of state except for President Cyril Ramaphosa, whom she refers to as an “unidentified leader”.

Darlene Superville, a White House correspondent for the Associated Press, tweeted on Sunday: “World leader bear hug before the group photo @ #G7Summit in Biarritz, France. @EmmanuelMacron @narendramodi @JustinTrudeau and one unidentified leader.”

She tagged Emmanuel Macron, the president of France, Justin Trudeau, the prime minister of Canada, and Narendra Modi, the prime minister of India, but somehow could not identify Ramaphosa.
Ramaphosa arrived at the summit on Sunday and aims to market South Africa as an investment destination and trade partner during the summit, Fin24 reported.

“The working visit will also provide a platform for President Ramaphos
Continue reading…

Enjoyed this post? Share it!

 
 

Taxpayers will now have to bailout the Ramaphosa regime after Moody lost patience with SA’s poor economic situation and proposes a tax increase

Posted on Leave a comment

The poor economic conditions, unemployment, little foreign interest, the land grab program, Eskom and other entities’ financial inability are all reasons why the country is in such a mess.

Moody’s has pointed out to the ANC-regime that it will have to raise taxes to fix the mess at Eskom, which is the first step to a series of tax hikes.

With the SABC, Denel, SAL, Eskom, and several other entities failing to be a profitable industry as it was years ago, the regime is pushing to raise taxes.

The poor decision to launch a National Health Plan while the country is in junk status is considered to be one of the stupidest decisions the Ramaphosa regime has yet made, which will also lead to astronomical increases in taxes.

Moving out of professional corps such as doctors, nursing staff, lawyers and others is the strongest indication that the country is heading for an enormous crisis that cannot be reversed.

Continue reading…

Enjoyed this post? Share it!

 
 

Ramaphosa lets the cat out of the bag: The bad news: ‘Our money’s up’

Posted on Leave a comment

Ramaphosa acknowledged in parliament on Thursday that South Africa’s financial resources were depleted while the country’s development needs were enormous. He did not say straightforwardly whether he supported “prescribed assets”, he said later, the pension fund industry and other stakeholders needed to talk about using pension fund assets to support the country financially. The country’s money is running out and South Africans’ pension fund assets are becoming an increasingly likely target for the government to pull the wagon through, it became clear on Thursday.

According to Ramaphosa, pension fund assets in other countries are used to invest in the development of the country and pension funds achieve good returns from infrastructure projects in particular. He says the trade union Cosatu supports its view that workers in SA’s pension money are used this way. According to Ramaphosa, this is considered positive by the
Continue reading…

Enjoyed this post? Share it!

 
 

Countdown to land grab: SA farmers under siege – Radical left-wing and anti-white ANC-government is intent on confiscating land belonging to white farmers — without compensation.

Posted on Leave a comment

The process of state-sanctioned land grab was given further momentum when another parliamentary motion was passed on Thursday.

This week saw another vote in the ANC-dominated parliament in favour of changing the South African constitution to allow for expropriation of property without compensation. On Thursday a motion to establish an ad hoc committee to draft an amendment of Section 25 of the Constitution, protecting property rights, was passed with 189 votes to 67, without any abstentions.

A broad coalition of anti-white parties, including the ANC, EFF and NFP voted for the motion, while those in opposition such as the DA, IFP, FF Plus and ACDP voted against.

The ANC’s chief whip, Pemmy Majodina, introduced the motion which stated that the fifth paliament had already adopted a report by the constitutional review committee (CRC) recommending the Constitution should be amended so section 25 “makes explicit that which is implicit in
Continue reading…

Enjoyed this post? Share it!

 
 

Ramaphosa: BBBEE will not be scrapped – too many black people have benefited from this policy for it to be scrapped

Posted on Leave a comment

President Cyril Ramaphosa says Broad Based Black Economic Empowerment (BBBEE) will not be scrapped.

He was replying to a call by Democratic Alliance leader Mmusi Maimane to stop BBBEE during Thursday’s debate of the Presidency’s budget vote in the National Assembly.

Ramaphosa says while redress is slow, too many black people have benefited from this policy for it to be scrapped.

He says, “Honorable Maimane we are not going to scrap BBBEE, it has contributed to significant growth of black middle class, to improvement in equity and enabled black people and women to become owners of businesses.”

The fundamental objective of BBBEE is to advance economic transformation and enhance the economic participation of black people in the economy.

-SABC News / 2019-07-19
This report does not necessarily reflects the opinion of SA-news.

Continue reading…

Enjoyed this post? Share it!

 
 

Mboweni’s truths: We are bankrupt and people will lose their jobs – If you ever doubted that South Africa’s economy was in deep, deep trouble, doubt no more

Posted on Leave a comment

There is a line in Finance Minister Tito Mboweni’s brutally honest 2019 Budget Speech that I can’t get out of my head.

“We are borrowing R1.2bn a day.”

Read that again. Let it sink in. If you ever doubted that South Africa’s economy was in deep, deep trouble, doubt no more.

Some perspective: R1.2bn is the value of Bosasa’s biggest two tenders, combined, that we borrow per day. Or: with R1.2bn, you can build about 8 000 low-cost houses. And that is what we borrow per day.

We are borrowing just to keep the lights on, to service our debt and to keep the state ticking.

Any Grade 10 learner with a basic grasp of mathematics will tell you that we are doomed to fail if we keep on spending more than what we earn. It’s literally that simple.

Mboweni had the tough job of breaking this news to South Africans. He didn’t mince his words and his ANC colleagues sat stone-faced as he punted se
Continue reading…

Enjoyed this post? Share it!

 
 

Cyril says he condemns farm murders just like other murders, but why doesn’t he take action?

Posted on Leave a comment

Cyril Ramaphosa responded to dr. Pieter Groenewald’s question to him in parliament by answering that he condemned farm murders just like the murder of any other South African, but believes that ethnicity must be overlooked because every life has equal value.

He points out that in November 2018, in response to a parliamentary question, he said that violent crime throughout South Africa is a matter of serious concern, regardless of where it is or who it affects. He cited the answer saying he had to condemn all murders in the country, including those on farmers and farm workers, and that the government was committed to doing everything possible to defend every citizen from all forms of violence, regardless of where they live or work.

Network 24 reports that Ramaphosa says the question indicates the distance that the nation still has to go after effective reconciliation and the recognition of the equal value of every life in the country.

&#822
Continue reading…

Enjoyed this post? Share it!

 
 

Cyril’s honeymoon days are over – politicians and business leaders are frustrated over empty promises and pace of land reform

Posted on Leave a comment

It appears that ANC president Cyril Ramaphosa’s honeymoon is over with business leaders who are frustrated with his pace of reform and his shadowy cabinet appointments and portfolio chairpersons.

Economists declare that his cabinet appointments and his State of the Nation address did not inspire confidence.

Many promises, but details of funding to realize the promises are lacking. Compromise appointments to prevent faction battles within the ANC prevent portfolios such as education and manpower from sitting with persons who do not have the ability to address problems in their department. Chris Schutte, CEO of Astral Foods, states that Ramaphosa’s bullet trains and new cities are a brainchild as most municipalities are struggling with service delivery.

The FW de Klerk Foundation was not available for comment after their express support of the president.

-Read the original article in Afrikaans on Vryburger
This report does
Continue reading…

Enjoyed this post? Share it!

 
 

It’s totally ridiculous, at least better than the new Life Orientation curriculum – New school subjects to be introduced after the ANC regime commited itself to “revolutionizing skills”

Posted on Leave a comment

ANC president Cyril Ramaphosa has announced that the government is committed to “revolution in skills”.

This is done to train people who will produce “human capital”. According to the president, the following subjects will be introduced to schools.

Data Science, Ledger Technology and Analysis, Additives Manufacturing, Artificial Intelligence, Robotics, Quantum Technology and Cryptography.

Cryptography is a very inefficient database system to make the Bitcoin puzzle work. Artificial intelligence is described as machine intelligence. How, who and when to introduce the subjects is not clear.

-Read the original article in Afrikaans on Vryburger
This report does not necessarily reflects the opinion of SA-news.

Continue reading…

Enjoyed this post? Share it!

 
 

ANC-regime stretching public finances by issuing bailouts to keep bankrupt SEO’s afloat – Denel requests a R2.8bn bailout from government

Posted on Leave a comment

South Africa’s state arms company, Denel as requested a R2.8-billion ($200-million) bailout from government.

Denel was once part of the country’s thriving defence industry but like many other state owned entities was mismanaged and affected by corruption during the former president Jacob Zuma years which lead to a financial crisis.

CEO Danie du Toit was appointed late in 2018 to oversee a turnaround plan for the company.

Du Toit says that the Denel is progressing well and he expects around R30-billion worth of deals to come into affect over the next two years but in order to achieve this the company requires a cash injection to help alleviate liquidity constraints.

Denel manufactures military equipment such as armoured vehicles, missiles, attack helicopters and ammunition for the South African armed forces as well as for export.

The CEO is hoping to receive the funds by September or October.

Last year Saudi Arabia’s st
Continue reading…

Enjoyed this post? Share it!

 
 

SA faces rating crisis due to ANC-controlled Eskom’s gross debt of more than R440bn – How will Ramaphosa overcome this problem without abusing public funds?

Posted on Leave a comment

Despite the R230 billion bailout the ANC president promised to Eskom over the next ten years, they are now asking the government for further assistance.

At this stage, it appears that the government is going to trade Eskom’s debt for government bonds or through the creation of a special account.

According to the Treasury, the problem at Eskom is “big and complex” which leads to the country’s rating crisis. President Ramaphosa has on several occasions tried to appease the rating agencies with a “workable” plan without abusing public funds.

Eskom’s debt at the end of March amounted to R440 billion, and considering that the country’s total gross domestic product amounted to $ 366 billion in 2018, it shows how serious the crisis is.

-Read the original article in Afrikaans on Vryburger
This report does not necessarily reflect the opinion of SA news.

Continue reading…

Enjoyed this post? Share it!