Ramaphosa gives State of the Nation Address without Turmoil
Yesterday, President Cyril Ramaphosa delivered an economic-focused State of the Nation Address in front of the Cape Town Parliament. For those, who watched to see just another edition of clowns.com in action where disappointment as the president diffused the usual belligerent atmosphere created by the EFF. By offering to sing the EFF Anthem in parliament in case the EFF wins the elections and to form a band togetehr with Mmusi Maimane, he had the humour in his side and the sympathy of the EFF delegates to stay and listen.
The address was focussed and addressed most heated topics determining the path of the country, but lacked definitive plans of actions or visions for any jind of implementations. However, the following key quotes are …
Ramaphosa to give second SONA, while none of his Promises has been kept
One year into the “new dawn” that South African President Cyril Ramaphosa promised when he took power, the economy is battling many of the same old problems. Growth in Africa’s most-industrialised economy is sluggish, unemployment is still at record levels and the debt of mismanaged state companies such as Eskom is weighing on finances. That’s a challenging backdrop for Ramaphosa, who promised a slew of regulatory reforms when he became leader of the ANC in December 2017.
Ramaphosa, like his predecessor Jacob Zuma, began his presidency with a recession. The country has emerged from that slump, but expansion hasn’t exceeded 2% annually since 2013 and will only reach that level by next year, according to central b…
ESKOM CEO admits to ESKOM failure and considers Unbundling!
It is no secret that ESKOM is in a state that seems almost beyond rescue, just another failure in the concert of State Owned Enterprises.Borrowing money to mainly financing debt, SAA and ESKO are both sad examples for the inability of the current government to govern those enterprises but instead being very much in favour to continue ransacking the state coffers in favour of two elephants that are not able to walk on their own anymore.
The umptieth CEO of ESKOM, Phakami Hadebe, addressing the delegates at the Mining Indaba yesterday, seems the first one though, who admits to reality. Nobody wants to lend money to ESKOM anymore, the coal suppliers hold the utility at ransom, procurement is corrupted beyond comprehension and the adminis…
ANC is gaining Voters again - Majority in next Elections looms
To the despair of any democratic and anti-corruption mind the ANC appears on track to dominate its sixth straight national election in May 2019 as it increasingly wins back supporters alienated by former President Jacob Zuma’s scandal-marred rule, an opinion poll released this morning shows. Ramaphoria seems to have survived the added scandals and ill-appointments of Zuma Sycophants as Ministers have not led to to unveil the true nature of politics in South Africa….shocking!
61% of 3 571 adults interviewed face-to-face by research company Ipsos between October 23 and December 4 last year said they’d vote for the ANC, while 14% said they’d back the Democratic Alliance, 9% the Economic Freedom Fighters and 2% the Inkatha Freedom Party…
Education Minister caught in Web of Lies announcing Matric Pass Rates 2018
In a never-ending effort of the ruling party to boycott education in South Africa so to keep potential voters uneducated and unaware of their corrupt and incompetent leadership the recent release of the 2018 matric results is yet just another example how they try to pull the wool over the eyes of the public.
Minister for Basic Education since 2009 and past president of the ANC Women’s League, Angie Motshekga, had the audacity to step in front of the press to announce a national pass rate of 78.2% in the 2018 National Senior Certificate Examinations, an alleged increase of 3.1% compared to 2017 and appositive trend over the recent years.
But the honourable Minister forgot to mention two major facts that show those figures in a diffe…
Investors' Confidence at Lowest Levels since Downgrade to Junk
South African business confidence fell to the lowest level since the country lost its investment-grade credit rating, as political and policy uncertainty continue to weigh on sentiment. An index tracking SA business confidence declined again in the fourth quarter of the year, according to the latest business confidence index by Rand Merchant Bank and Stellenbosch university’s Bureau for Economic Research. Confidence is now at the lowest level since the second quarter of 2017, when former president Jacob Zuma’s move to fire Pravin Gordhan as finance minister saw the country’s debt cut to junk by S&P Global Ratings and Fitch Ratings.
The index declined from a revised 34 points in the third quarter to 31 points. Of the five sectors that…
Recession ends with quarterly Growth of 2.2%
Expected only by a few, South Africa rose like Phoenix from the Ashes in the third quarter of 2018.
The GDP rose – quarter-on-quarter – by 2.2%, which officially ends the recession in South Africa, StatsSA reported today and was well ahead of the predicted 1.9%.
Growth was driven by the manufacturing sector, which expanded 7.5%, financial services, which expanded 2.3%, and the transport, storage and communication industry, which increased 5.7%. The trade, catering and accommodation industry increased by 3.2%.
Mining weighed on growth, with a contraction of 8.8%. Revisions were made for the second quarter from a 0.7% contraction to one of 0.4%, based on more information from mining, manufacturing and trade.
Stronger growth wil…
Patricia de Lille announces new political party: GOOD
Disgruntled and publicly shunned former major of Cape Town, Patricia De Lille, this morning finally announced that the name of her new political party is “GOOD”. (no joke!)
“The movement’s name and identity is here for all of you to see. It is a simple and authentic name that says quite boldly what we stand for and that we are here to disrupt politics as usual. “It is rallying call to GOOD South Africans to resuscitate the project of optimism and reconciliation,” De Lille said in a statement posted on her Facebook page. De Lille recently resigned from the Democratic Alliance, following 18 months of acrimony between her and that party she joined when it merged with the Independent Democratics which she founded and led, in 2010. She was…
Government does not give up killing Economy - Load Shedding is back
In a country, which was once the shining economic leader, a GDP-Growth Elephant, the lights are out again due to another phase of Load Shedding! We all remember the previous times and the scrambling for PV Solar Systems, generators and cheap Diesel. Yes, we are back! Thank you ESKOM!
The crisis does not come unexpected as all foreign engineers have beens sent back and Medupi and Kusile are a playground for university graduates and ill-appointed protegees, who try to get an ultra-modern power station going. Meanwhile the units at both plants are mostly offline, the ash and dust silos are overfull and pollute the air the plants are supposed to breathe and ill-advised capacity increases and longer maintenance intervals lead now to unit f…
National Minimum Wage Act in Force from 2019
After a long delay, President Cyril Ramaphosa has finally signed the National Minimum Wage Bill into law.
The National Minimum Wage Act sets South Africa’s first National Minimum Wage at R20 an hour, equivalent to R3,500 per month, depending on the number of hours worked, and creates a phase-in period for farm workers, forestry workers, domestic workers, welfare sector and care workers, due to their vulnerability to disemployment.
An exemption may only be granted if the employer cannot afford to pay the minimum wage and after meaningful consultation with every trade union representing affected employees or the affected employee him/herself in absence of a trade union.
“The President’s signing of the new law comes four years, to …