Posts tagged with 'investments'

 

SA, the country once known as the most prosperous one on the African continent, is downgraded by Moody’s to position near to junk status

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While Cyril Ramaphosa delights in the Rugby players’ victory in Japan, Moody’s downgraded the country’s financial position near to junk status.

In the next 12 to 18 months, the Ramaphosa regime will have to implement good plans otherwise there will be another major setback for the country that was once known as the most prosperous one on the continent.

Moody’s is the last of the three major rating agencies to still show patience and not like Standard & Poor, as well as Fitch had previously seen the SA economy as a loser, and downgraded the country to junk status.

It is now becoming increasingly difficult for SA to borrow money, and investors are now more than ever hesitant to invest in a poor economic environment.

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Chinese ambassador spells out the blunt truths about investment in South Africa – Appears that they want to take over after incompetent ANC destroys SA

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China’s ambassador to South Africa, Lin Songtian, has made it clear: if South Africa hopes to attract the further Chinese investment it needs to resuscitate its stagnant economy and it has to renovate its infrastructure, including revitalising the governance of state-owned enterprises.

China’s ambassador to South Africa, Lin Songtian, is a master of the back-handed compliment.

Reportedly connected to the highest echelons of his government, he manages to convey tough messages to Pretoria, wrapped in layers of praise.

At a seminar at the Chinese embassy in April, for instance, he said that he “always speaks highly of South Africa”.

“Because why? Because 20 years ago South Africa was much better than China. And 10 years ago when I passed through here on the way to Malawi (to become ambassador) you were then a little better than China, in terms of infrastructure, market mechanism; the judicial system and so on.” And then he added,
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Ramaphosa lets the cat out of the bag: The bad news: ‘Our money’s up’

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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
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Billions of Rands are taken out of SA because of the ANC regime’s inability to manage country effectively

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South African property companies are currently taking billions of rands across the country by making investments overseas.

This is due to the poor economy, increased municipal rates and taxes, as well as political uncertainty in the sector as well as fears of expropriation without compensation.

Investments overseas in 2018 were almost four times more than locally spent. Central and Eastern Europe seems to be the most popular overseas markets.

Experts say if this is a measure of business confidence in the country, then the picture looks dark for years to come.

New research from US research and analytics group, Real Capital Analytics (RCA), shows how South African-based investors are putting more money in foreign markets than ever before – with outbound investment four times larger than money coming into the country in 2018.

According to the group, “the gulf between investment activity in South Africa and overseas
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The corrupt ANC government plans ‘could collapse pension funds, with pensioners dying poor’

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The party’s manifesto hints at targeting pensions through prescribed investments, ‘which will see half the population’s money used to bail out failing entities like Eskom’.

The prescribed investments for pension funds hinted by the ANC in its 2019 election manifesto could lead to the collapse of South Africa’s pension funds and pensioners dying poor.

Explaining prescribed investments during a presentation yesterday, economist Mike Schussler said government would be able to dictate to fund managers where and how much of their assets to invest, be it in government bonds, bailing out crippled state-owned enterprises (SOEs), or even funding the previously proposed Russian nuclear power station project.

If this is done, added to the way SOEs were run into the ground and looted in the past, workers’ hard-earned pensions could ultimately be squandered.

“If your money is invested in Eskom and all this mismanagement and wastage is ha
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Investors do not want to invest in SA since our national power provider is so unreliable – Communists now demand the end of load shedding after it has already cost the country billion Rand in recent weeks

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ANC, SAKP, Cosatu and Sanco are now demanding the end of load shedding in South Africa.

It is ironic that the people in charge of the country, that is, the ruling ANC party, its alliance partner, the SA Communist Party and unionists now demand that the shedding of power must be discontinued.

The ANC’s Zizi Kodwa issued a statement on behalf of the parties in which statecapture and corruption is blamed as well as Eskom’s incompetence to thrive. During the meeting of partners, the failure of local government was criticised as well as the inability to provide basic services.

In terms of power, the country has already spent billions of Rand in recent weeks, and Ramaphosa’s efforts to attract investors are being harmed by the power supply that is extremely unreliable.

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

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