Posts tagged with 'Africa'

 

Embattled National Carrier gets R3.5bn lifeline from Development Bank

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SA Airways (SAA) has secured R3.5bn in funding from the Development Bank of Southern Africa.

“Discussions held with financial institutions have been fruitful,” joint SAA business rescue practitioners Les Matuson and Siviwe Dongwana said in a statement on Tuesday.

The business rescue practitioners, supported by the departments of public enterprises and National Treasury, obtained the funding needed to meet the short term liquidity requirements of the airline.

“Discussions held with financial institutions have been fruitful, with the DBSA offering to provide the next tranche of funding, for a total amount of R3.5bn, with an immediate drawdown of R2bn.

“Furthermore, funding for the restructuring phase after the [business rescue] plan is adopted is being considered by potential funders,” read the statement.

“The advancement of the funds comes on the back of the business rescue process which began on 5 December 2019, wit
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Lesufi once again disregards rights of Afrikaans-speaking communities in Combined School in Cullinan

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It is clear that Panyaza Lesufi, Gauteng MEC for Education, is continuing his assault on the Afrikaans-speaking community as he abolished Afrikaans at the Combined School in Cullinan.

According to the Gauteng Department of Education, the decision to do away with Afrikaans as medium of instruction at the school was made due to the waning number of Afrikaans learners attending the school.

The FF Plus, however, views it as scandalous that the Department has no regard for minority rights, and Afrikaans minority rights in particular. In fact, this is a case of double standards because Afrikaans schools are targeted and forced to accommodate learners who speak other languages and are even expected to build new classrooms, while Afrikaans learners are being turned away from certain other schools where Afrikaans as medium of instruction was done away with.

One is justified in asking the question of why Afrikaans-speaking learners, who are the minority,
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Farm attack: Victim strangled with scarf and genitals hacked with sharp object, Bapsfontein

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Farm attackers strangled a man with a scarf and hacked his genitals with a sharp object.

A bloodied Timothy Rademeyer, 51, and his partner, Dirkie Voges, 61, were found on their farm in the Welbekend area near Bapsfontein on Wednesday.

Voges could walk up to the farm road and call for help.

Candice Allison, a local paramedic, was one of the first people to rush to the farmhouse to help the couple.

Her cousin, Ian Jackson, was driving past the couple’s farm around 7:30 a.m. when he saw the bloodied Voges along the road.

He immediately rushed to Allison about 3 km and told her to help urgently.

A bloody scene greeted Allison.

A scarf with which the attackers strangled Rademeyer was so tightly knit that she had to cut it loose. One of his ribs was also presumably broken.

“He had ugly cuts to his head and arms. His private parts were also cut, ”says Allison.

I just know my dad got hurt a lot.<b
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Will SA consider nuclear power plants and will it be safe in the hands of a Third World country ruled by the ANC regime?

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It hangs on everyone’s lips: Will South Africa’s regime consider purchasing another nuclear power generation plant similar to the Koeberg plant.

South Africa is fast moving backwards and has long been no country with First World standards. With the regime’s latest efforts to light the lights, it is clear that there is so much pressure on the Ramaphosa government that they are in no way approaching one task after another and finding solutions.

Finance Minister Tito Mboweni was very busy at the Davos summit, but his busy time was only to kill fires over the Eskom scandal and the empty state coffers that lack the ability to borrow money to save SAL .

That raises the question of whether nuclear power plants are the answer to SA’s power supply, but experts believe the Koeberg power station is a prime example of First World equipment, and in fact can’t be safe in the hands of a Third World country.”

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SAA crisis becomes ANC nightmare – No banking institution wants to borrow R2 billion for bankrupt government-controlled entity

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The competition to get SAA free will now begin, which the weakest state-controlled entity now has literally no value.

The government’s inability to live up to its promise and make another R2 billion available to SAA as the largest rescue buoy has now made the entity very shaky.

Salaries for January can still be paid, but after that it will struggle, and in the meantime Minister Tito Mboweni is trying to convince all the bankers in the country to borrow the R2 billion.

Approximately 12 flight routes were abolished, destroying thousands of people’s travel plans and those who were prepared had to be content to get on with Mango Shipping.

A week of complete chaos is over, but the outlook for this week is as bleak as it was last week.

According to press reports, it appears that many ANC members of parliament are in favor of liquidating the SAA to lighten the load on the state coffers.

Now, a new shipping company is co
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Liquidation of Gupta company, Oakbay back on the table

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The Tegeta Exploration and Resources has again filed an application for liquidation from the Gupta company, Oakbay Investments.

The Tegeta institution has gone on a hunt for the R402 loan from the Gupta company, which has been in disarray in recent months.

Tegeta claims that the Guptas ‘family business’ Oakbay Investments, as an entity owes him R400m.

In the documents filed with the Johannesburg High Court, Tegeta argues that Oakbay is liquidated as he is not in a position to settle his debts.

The Guptas currently living in the Emirates have already been auctioned off in Johannesburg and sold to pay off outstanding debts, but attempts to get them extradited to SA have been unsuccessful until now.

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Future of SA is bleak after ANC-regime ruled a once model state into junk status and sh*thole

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It is clear that South Africa has become so fragile in the financial field that overall poverty, with the exception of a few wealthy people, will lead to the necessary change in governments.

Who will be the new rulers is currently a widely debated topic, but there is also the feeling that the ANC will remain in control at the national level.

The official opposition parties may form a government as a coalition, but in Africa it does not work, and such a merger will only provide temporary solutions.

However, it will not provide solutions that will bring South Africa back on the road to success, as none of the smaller parties has the strong leaders to protect the country from corruption, money laundering, murder, and dozens of other problems.

Whoever takes over from the ANC will do nothing better than today’s weak rulers.

The possibility of a homeland for the Boer-Afrikaner is the only way to set up a good government that will,
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Land expropriation without compensation shock revealed! ANC regime publishes charade bill on expropriation without compensation

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The leader of the Afrikaner Self-Determination Party has strongly opposed the ANC over the government’s rate of land expropriation.

The shocking revelation was made in the media this past weekend that the ANC had just published a charade bill on expropriation without compensation for public comment. The media revealed that Dr Mathole Motshekga of the ANC acknowledged that the ANC had published this facade so that it did not cause too much opposition before the real bill was tabled in parliament.

In terms of the true bill, according to Motshekga, the courts will have no power to decide on the legality of the ANC’s intended expropriations without compensation.

Motshekga stated that, in the opinion of the ANC, the court process is taking too long and that the ANC government as elected government should have the final say on expropriations without compensation.

The entire concept of expropriation without compensation that the ANC
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SAA’s wings cut – bankrupt SOE can only pay salaries in January

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The bankrupt, state-owned SAA airline company will manage to pay its staff salaries for January, but that’s where it all ends.

With a bankrupt government failing to fulfill its pledge to pump another R2bn into the soe, it looks as if SAL will not remain standing.

The airfreight company faces three serious problems, and the solutions to this are vague and unclear, as different measures could not create a better situation.

The SAA needs at least R2bn to get its planes up, but with the many cancellations it has had to announce, its passengers are becoming less and less and profitability is becoming almost impossible.

The government’s inability to borrow R2 billion from any banker in the country has failed, which is now seen as a vote of no confidence in the financial approaches the regime is following.

It can inflict a final blow.

The large number of workers who should never have been hired is another reason why the
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Only 15% of CEOs are still positive about SA’s economic outlook

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This is a slim 15% of CEOs who still have a positive outlook on the South African economy’s outlook.

They are still very confident and confident about what their companies’ return will be in the coming financial year.

However, the growth rate that has almost reached zero point speaks to a different view, in which more than 80% of business leaders are deeply concerned about the state of affairs.

Growing pessimism, even among those who normally remain positive, is now noticeable, and many believe their well-built businesses are no longer as secure as they were a few years ago.

A company that gives advice to businesses and their CEOs says the number of organizations that still have confidence is diminishing each month, while companies are experiencing almost daily decline in turnover.

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