Posts tagged with 'state-owned enterprises'

 

“Anti-Racism” in SA has Become an Industrial Scale Extortion Racket & Blackmail Weapon Wielded by Corrupt ANC Regime, EFF & Comrades!

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A tweet by a black female Director of Cricket SA has exposed what we always suspected: ANC regime uses control of State Pension Funds & Control of State Owned Enterprises to enforce Black Supremacy and Extort Money, Favours & Positions from private sector! On top of this they also use racebaiting, like the infamous racebaiting mafioso in USA, Al Sharpton, to threaten people and groups with false bad BBBEE ratings and false accusations of racism, if they do not comply, pay up or or do the bidding of the ANC regime! Who knows what has not been “gifted” or handed over, and how deep the rabbit hole goes, in this modern day mafia style gangster protection racket the ANC & EFF are running? Do not expect mainstream media or the courts to expose it…

In a mindblowing display of black entitlement and abuse of position – which was more than likely attained on account of her skin colour and gender, not her ability or experience –
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#Gatvol of The African Way! Malicious Negligence & Endemic Criminality Deconstructing South Africa Every Minute of Every Hour of Every Day!

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#DeconstructingSouthAfrica: South Africans are gatvol of the #AfricanWay, which is enabled, propped up and encouraged by the liberal establishment, MSM and the ANC regime, and tolerated by the silent majority! We are tired of all these things being done to us on a daily basis! Who is not tired of being fleeced and looking over their shoulder every single minute of the day? But we may not talk about who does these crimes on a daily basis? We may not talk about the human right’s abuses or legalised racism against minorities & BBBEE, non representation, cadre deployment, lack of services, etc.!

Multiple times every day we see ATM bombings, deadly Cash in Transit (CIT) bombings & heists, stock theft, street / shop & business robberies, truck/bus/train bombings, burning & destruction of schools & hospitals, mutilation of livestock during raids on farms, violent protests, armed robberies, smash & grab, stealing & swapping bank cards
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Trade unions are rejecting ANC’s plans to sell non-performing SOE’s

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All indications are that the ANC is prepared to execute the Tito Mboweni plan and sell the non-performing entities.

For the ANC it is like swallowing a prickly pear with thorns and all, because it is a testament to their inability to run certain entities profitably.

The Ramaphosa government faces an enormous fiscal dilemma, and the sale of various entities will not only be humiliating, but will also leave many ANC senior workers unemployed when private entities take over the entities.

However, the question is whether Cosatu and other unions will agree to such a move, knowing that their own members may lose their jobs because it is known that the state entities are not profitable because too many people are employed was taken.

Institutions such as Denel, SAA, Eskom, Transnet, and various other entities are likely to come under the “selling spotlight” when negotiating with the unions that will oppose the idea.

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Hostage drama continues – Eskom holds ANC regime prisoner, parasitic parastatal seeks further R59 billion to squander

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The hostage drama in which Eskom has captured the ANC regime has now reached its highest point of arrogance.

With a new demand to get R59bn intended for the next two years for mismanagement, all reasonable limits have completely surpassed, say economic experts and informed businessmen.

Eskom’s debt burden is already so high that there is almost no possibility that the struggling power provider will ever be able to recover it.

With the decline in electricity demand, South Africa is on the verge of a total economic collapse, and the worst can be expected in the coming weeks.

Finance Minister Tito Mboweni’s suggestions that Eskom should pay its workers less and have less unions on their feet, ready to make the country even more unmanageable.

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ANC’s pension money proposal upsets economists – Government wants to use private and public pension funds to settle struggling SOE’s debts

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ANC Chairman on economic transformation, Enoch Godongwana, said during an interview with the Sunday Times that money from the country’s private and public pension funds should be used to pay off the debts of struggling state-owned enterprises such as Eskom and SAA. In response to the statement, economist Mike Schüssler said it was just another way to take and use South Africans’ assets to save the country’s situation.

According to Godongwana it is a better alternative than approaching the International Monetary Fund (IMF) and the World Bank for help. He argues that borrowing money from the World Bank is insignificant because there is enough money in the economy that can be borrowed, probably cheaper and possibly with a smaller exchange rate risk. He goes further by saying that the country’s asset management industry, which includes pension funds, insurers and other investors, is estimated to have about R6 000bn under management.

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Cash strapped Denel asks ANC regime for cash injection of R2.8 billion to pay employees salaries and remuneration

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Weapon manufacturer Denel is one of several state-owned enterprises (SOEs) found amid allegations of corruption and statecapture. The entity finds itself in a deep financial crisis and was forced to ask government for a R2.8 billion bailout to pay suppliers and outstanding salaries.

Public Enterprises Minister Pravin Gordhan announced that the company, with the help of a lender, made it possible to pay salaries for the month of June. Meanwhile, it has come to light that although staff salaries have been paid, no pension contributions where paid. Unconfirmed reports say Denel will again struggle in late July to compensate his staff.

Denel CEO Danie du Toit indicated stated that Denel is in negotiating with the banks to obtain bridging finance and has apologized for the tension and anxiety it causes among staff and their families. Since Denel failed to pay its employees ‘salaries in full, staff have been showing a negative attitude towards the comp
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ANC has decided to simply” expropriate “ordinary South Africans’ savings to save state-owned enterprises – ANC has your pension in sight to try to save sinking Eskom

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Economists have issued a serious warning as they fear public pension funds will be used to fill Eskom’s massive black debt gap.

Mike Schussler shares other economists’ fears and says that such rumors have been around for 11 months. Eskom’s debt burden may rise to R600bn over the next few years, and businessmen reckon Eskom will not get rid of the huge debt burden again unless skilled people take control and get rid of the hundreds of redundant workers.

South Africans’ pension funds are in the ANC’s sights and the governing party may be able to prescribe future asset managers of these funds how to invest their money.

It is believed that they are striving to receive funds for “socially productive investments (such as housing, social and economic development infrastructure and township economies) and job creation”.

Intellidex economist Peter Attard Montalto, in response to the ANC’s election ma
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