Prince of Darkness may visit SA again today

In a media statement, Eskom had warned South Africans to brace themselves for the possibility of load shedding on Wednesday, Feb 19 (today). After a two day day respite, Eishkom announced that while no load shedding was currently expected, there was a high possibility of load shedding  because of unplanned breakdowns. The last load shedding was on Sunday. The standard Eskom statement said “the system remains vulnerable.” It stated that load shedding could be implemented on short notice. Eskom said it would communicate with the public on a regular basis.…

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Health facilities on high alert to deal with Coronavirus.

Cabinet has reaffirmed that all the country’s health facilities are on high alert to deal with any eventuality of the Coronavirus. “There are no reports or suspected cases of the virus and Cabinet reiterates the message of the Minister of Health, Dr Zweli Mkhize, that all measures have been put in place to prevent any infections in the country,” said Cabinet in a statement on Tuesday. This as the National Institute for Communicable Diseases (NICD) said there are no reports or suspected cases of the virus in South Africa. In…

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Ex-SAA boss Dudu Myeni absent from court as more blame is leveled at her

Image of former SA president Jacob Zuma and corrupt SAA former CEO, Dudu Myeni

The accusations against former SAA board chairperson, Dudu Myeni, continued to mount in the North Gauteng High Court in Pretoria as more witnesses blamed her for the national airliner’s alleged financial troubles during her six-year tenure at the helm. Former SAA chief financial officer, Wolf Meyer, corroborated his former fellow executives, including former acting SAA chief executive, Nico Bezuidenhout, in alleging Myeni was responsible for the failed R1.5billion profit guarantee if SAA had signed a deal with Emirates in June 2015. Evidence before court indicated that Emirates offered to allow…

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Rand Falls as Moody’s sounds alarm on SA economy

The rand declined as much as 0.7% to trade above 15 per dollar for the first time in a week. Yields on benchmark 2030 government bonds rose four basis points to 8.9%. Moody’s, which is scheduled to review South Africa’s Baa3 credit rating in March, said the country’s lackluster economic performance was due to domestic challenges rather than external factors such as the corona virus. A downgrade by Moody’s would see South Africa lose its place in investment-grade indexes, sparking outflows from its bond and stock markets. Sources: DM/Moody’s/Bloomberg

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KZN Premier urged by DA to intervene in provincial Agri Dept

The Democratic Alliance (DA) said in a statement that it had written to KwaZulu-Natal (KZN) Premier, Sihle Zikalala,  requesting that he urgently place the province’s  Department of Agriculture and Rural Development (DARD) under administration, failing which the DA said it would be forced to approach the National Executive for further drastic action. The call follows a written request to Treasury HOD, Simiso Magagula, in November 2019, requesting the same, to which no response had been received. The DA said in the statement that this comes after years of the Department…

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Mkhwebane intent on destroying Public Protector’ office, veteran official tells Parliament

SA Public Prosecutor and anti Pres Ramaphosa VIP is getting slammed in court

  Sphelo Samuel, the head of the Public Protector office in the Free State, is the latest official to submit an affidavit to Parliament about her conduct, becoming the most senior staff member in Mkhwebane’s administration to do so to date. The affidavit: “I am deposing to this affidavit to bring to the attention of the Speaker… and Parliament… some of the unhealthy working conditions the staff in the PPSA [Public Protector South Africa] are subjected to, to seek assistance and intervention in rescuing this institution from the tyranny that…

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Uphill battle for President to trim wage bill

President Ramaphosa’s plan of trimming the state’s wage bill to get South Africa’s finances under control had already encountered resistance from Cosatu, who was quoted in News24 : “Just because we’re talking doesn’t mean we’re on the same page,” said Sizwe Pamla, Cosatu spokesperson. “Government has a right to engage with its employees, but government doesn’t have the right to its own slaves.” The state had proposed cutting 30 000 jobs and freezing pay for three years, according to Cosatu. These proposals are not going down well with the unions…

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UN confirmed that apartheid was crime against humanity

The United Nations (UN) has rubbished F.W. De Klerk‘s claims that apartheid was not a crime against humanity. The UN unequivocally confirmed that apartheid was a well-established crime against humanity because it meets two key elements of being both widespread and systematic. De Klerk, who was the last apartheid era president, served as deputy president when  Nelson Mandela was president in South Africa. Source:SABC NEWS

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#SONA 2020 – Brenthurst Wealth talks rands and cents

President Cyril Ramaphosa’s SONA address last night once again highlighted the problems at SOE’s, but gave little in the way of detail to the solutions. The President stated that South Africa suffered from stagnant growth, growing youth unemployment, power generation problems and unsustainable rising public debt. He announced plans for a sovereign wealth fund along with the establishment of a state bank. The plan to split Eskom into three entities remains in place, but he also said that load shedding was unavoidable while critical maintenance at power stations was being…

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