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NBF chief executive earns more than the president – Taxpayers finance public servants’ lavish lifestyles

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According to the DA, Philisiwe Mthethwa, CEO of the National Empowerment Fund (NBF) is probably the highest paid civil servant in South Africa.

Mthethwa receives a combined salary package of more than R6 million during the previous financial year. “That’s R2 million more than Pres. Cyril Ramaphosa earns “said Dean Macpherson, DA MP and shadow minister of trade and industry.

She has been the “highest paid civil servant” for several years and her package includes a R2 million bonus. “Her massive salary is shocking, given that the NBF has very little money to do its job and that the entity cannot explain the CEO’s excessive salary.

“The NBF was established in 1998 to provide capital financing to black entrepreneurs and while their initial work has shown success after receiving government funding, repeated budget cuts have left the organization without money, except for their overpaid executives. They all rece
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Capitec director gets rid of all his shares

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Capitec director, Jean Pierre starred, sold all his shares on Tuesday. That was 5,000 shares at a total of R7.2m. He said it was a personal decision to sell now.

Pierre, one of the best-known short sellers in South Africa, became an independent non-executive director of Capitec at the beginning of 2015. Before long, he was outspoken in his criticism of African Bank, which collapsed in 2014.

The money generated from the sale is believed to be used by Pierre for the new hedge fund company he recently started, Protea Capital Management.

He does not intend to resign as Capitec’s director. Well-known fund manager Piet Viljoen noted on Twitter that Verster sold his shares.

Acoording to Iress Capitec’s share price was trading at its highest level of R1 455.29 on Tuesday.

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Court deals Soweto residents who wants to pay a flat tarrif of R150 a month for electricity a blow by striking case off the roll

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Soweto owes R20bn to power provider Eskom, but residents of the township only want to pay R150 a month for their power. Mpho Sesedinyane, ANC councilor and chair of the South African National Civic Organization (Sanco) in Soweto, feels that R150 is a fair amount and that, given the state of the economy, the residents can only afford to pay this much a month for power.

However, Eskom rejected the proposal of a fixed power tariff of R150 per month for electricity. Eskom spokesperson Reneilwe Semenya said this proposal by community leaders in Soweto was unrealistic and residents had to pay for what they consumed. He also referred to the Johannesburg High Court which on Tuesday rejected an application to restore power supply to Soweto and allow residents to pay a flat rate for power.

Soweto owes R20 billion of the R420 billion owed to the Johannesburg metro power supplier. Semenya believes that if a fixed power tariff is set, it will certainly give rise to
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Junk Status looms – Implementation of NHI will have disastrous consequences for SA economy

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AfriForum today sent a letter to President Cyril Ramaphosa, Finance Minister Tito Mboweni and Minister of Health Zweli Mkhize warning the civil rights organization that the implementation of national health insurance (NHI) could eventually lead to the downgrading of the country’s credit rating to junk status .

This comes after the credit rating agency Moody’s recently downgraded South Africa’s credit rating from a stable to a negative outlook. The reason for this downgrade according to Mood is the bleak growth prospects and growing public debt. In its letter, AfriForum argues that unaffordable, ideological policies such as the NHI will lead to South Africa being downgraded to junk status, as the country simply cannot fund it.

“To continue with the implementation of the NHI will not only be disastrous for the South African economy; it will also inflate government debt to levels that will make it impossible to escape the downgrade to
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Implementering van NGV gaan rampspoedige gevolge inhou vir SA ekonomie en selfs oorsaak wees vir gradering tot rommelstatus

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AfriForum het vandag in ’n brief aan president Cyril Ramaphosa, minister van finansies Tito Mboweni en minister van gesondheid Zweli Mkhize gestuur waarin die burgerregteorganisasie waarsku dat die inwerkingstelling van nasionale gesondheidsversekering (NGV) uiteindelik tot die afgradering van die land se kredietgradering tot rommelstatus kan lei.

Dít volg nadat die kredietgraderingsagentskap Moody’s Suid-Afrika se kredietgradering onlangs van ’n stabiele na ’n negatiewe vooruitsig afgegradeer het. Die rede vir dié afgradering is volgens Moody’s somber groeivooruitsigte en groeiende openbare skuld. In sy brief voer AfriForum aan dat onbekostigbare, ideologiese beleide soos die NGV daartoe gaan lei dat Suid-Afrika na rommelstatus afgegradeer sal word, aangesien die land dit eenvoudig nie kan befonds nie.

“Om met die inwerkingstelling van die NGV voort te stu, sal nie net rampspoedig vir die Suid-Afrikaanse ekonomie wees nie; dit sal ook st
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South African Army has also run out of money! This is how much trouble the SANDF is in…

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South Africa’s National Defence Force (SANDF) is in a dire financial state, and with no promise of future funding, things may still get worse.

Answering in a recent parliamentary Q&A session minister of Defence and Military Veterans, Nosiviwe Mapisa-Nqakula, said that current plans to get the SANDF back on track are entirely dependent on its funding.

“The prevention of the SANDF capabilities from declining further is entirely dependent on the budget allocation of the Defence Force, which has been decreasing at an alarming rate over the years with a negative impact of the entire capabilities,” she said.

“The Defence Review 2015 has been developed with a plan to arrest the decline of the SANDF but unfortunately no funding has been received to attend to the declining capabilities of the SANDF.”

Mapisa-Nqakula added that the years-long decline of the SANDF meant that it was becoming increasingly difficult to protect the country.
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SA: The Land of Destruction: With 57 murders each day, the country is more unsafe than war-ravaged Syria was!

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South Africa is known as a country where violence is the dominant element that is wreaking havoc on thousands of people’s lives.

In one way or another, every reader has already been struck by the barbaric violence that just cannot be stopped by the ANC regime.

Home burglaries are the most common crime, and because the police are poorly trained, and slow to catch the villains, it becomes a better way for the criminals to make money than to do an honorable job.

More than 1.3 million home burglary incidents have hit the country in the past year, which means a burglary occurs every 20 hours.

Property theft remains ever-popular, and 1.2 million cases have been reported with street theft reportedly on the heels, but statistics are lacking.

The auto industry is equally appealing to villains, and more than 83,000 vehicles have been stolen in various ways.

With 57 murders each day, the country is more unsafe than war-r
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Sexual harassment at schools worsens, learners and teachers are targeted

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It is not only children who are sexually harassed by teachers, because there are also hundreds of incidents of teaching staff harassed by pupils.

During the past financial year, the Department of Education dealt with 633 cases where teachers were harassed.

In a series of social media posts, warnings have been issued to all those guilty of the crime, but experts say the government’s actions speak of a reluctance to resolve the crisis.

According to a report to the parliamentary committee, 32 teachers were fired because of their involvement in sexual harassment, of which there are several incidents of rape.

Of all the incidents brought against teachers, only 101 cases were subject to disciplinary hearing, of which only 67 were found guilty.

Concerns have been expressed about the large increase in incidents while action against the culprits is only a small percentage.

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Minister of Police accused of corruption but strongly denies that he benefited from State Capture

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The man with the big hat, who draws heavily on the American cowboy forms, has now pulled out his pistols and is looking for the guilty liars.

The Minister of Police, Bheki Cele, rejected the accusations that he had benefited from distributing gifts during the state capture.

A so-called “secret witness” said the head of the police service is linked to the gift of a luxury vehicle, but Cele says the witness must show where the vehicle is.

Allegations that Cele was involved in “crime intelligence” but there is also no clarity about this, although it was alleged that he received R40,000 on occasion, but the information was vague and also unconvincingly communicated to the commission.

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Old steel industry closes its doors due to poor economic condition in SA caused by ANC regime’s inability to govern country effectively

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Robor, the steel industry that has been providing exceptional service in the manufacture of steel goods for 97 years, is finally closing its doors.

The voluntary winding-up of an industry that manufactured steel pipes and other steel products is attributed to the poor quality, cheaper products manufactured by Chinese institutions.

In response, the Tiso Blackstar company said it was writing off its R137m investment it had invested in Robor.

The closure of Robor is widely regarded as a serious hall largely caused by the government’s policy of Chinese support at the expense of domestic companies, as well as the poor economic condition of the country due to the failure of the ANC regime.

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