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This is totally unbelievable!– Units at all twelve of Eskom’s oldest power stations have ceased functioning – Can it get any worse?

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Units at all twelve of Eskom’s oldest power stations have ceased functioning, which means that more than 17,000 MW’s are loss. It is even more than 15,000 MW in 2015 when load shedding was introduced and lasted for months.

Medupi and Kusile design problems alone will cost R345 billion to restore, and Eskom does not have the ability to pay it.

Eskom has, in the meanwhile, calculated that the problems will only be sorted out by 2021, but experts believe that the power provider’s bad financial position is going to slow down the poor and irregular power supply even more.

Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.

 

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Black banks in SA are struggling for survival – VBS Bank is going down the same path as the failed African Bank

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It seems that the black banks are struggling for survival and eventually will sink while many clients and investors will lose money.

Four years after the collapse of the African Bank, the bank could only pay R1,1 billion to his creditors while an amount of more than R9 billion was payable.

According to the latest financial report, it appears that the “bad bank” is not able to properly pay the investors and creditors.

VBS Mutual Bank was recently liquidated due to large-scale irregularities, and resulted in major losses in municipalities that invested money in the bank.

Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.

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The South African Nuclear Energy Corporation (Necsa) board are being replaced, will the new members approve nuclear deals??

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General financial misconduct, not adhering to shareholder instructions and repetitive legislative non-compliance are among a litany of challenges which lead to the government replacing the South African Nuclear Energy Corporation (Necsa) board.

Energy Minister Jeff Radebe said the challenges at the organisation were so severe that the ministry was left with no option but dissolve the board. The challenges, he said, had continued to hover and were not addressed, despite repeated calls.

The governance issues raised by the minister included:
– repetitive instances of legislative non-compliance
– non-adherence to specific shareholder instructions and/or directives
– financial mismanagement
– remuneration irregularities
– unauthorised international travel

He also accused the board of issuing misleading, inaccurate and/or defamatory media statements on a number of matters sen
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South Africa can face food shortage with the Ramaphosa regime’s landgrab actions – Farmers unwilling to sow or plant because they are afraid of financial implications

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With the inability of the Ramaphosa regime to clearly understand what farmers are facing from the when the landgrab action that will soon begin, farmers are worried that they will face financial ruin.

The different scenarios are analysed one after the other, one of which makes farmers unwilling to sow or to plant.

The farmers believe the risk is too high to harvest land and then the government confiscates the land for the benefit of the so-called new owner.

The second source of concern is who will be responsible for the exercise that has to be undertaken and who is responsible for the mortgage on the farm.

Even though only a portain of the farm is being taken under the land expropriation action, the problem remains the same. Farmers would rather no longer incur any costs, fearing that they should pay the costs without the income on the ground.

If political leaders of the ANC regime ignore all fears, or reject it as speculation, the
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The gravy train were properly exploited at the VBS bank- ANC treasury general received R1.5m gift

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Evidence in the Supreme Court shows that the ANC’s Limpopo Treasury General, Danny Msiza, received R1.5 million via an intermediary.

The intermediary facilitated the “investments” of multi million rand from municipal accounts to VBS bank.

A R9,5 million mortgage from Msiza’s company on a property in Pietersburg is also apparently paid by VBS Bank.

It appears that “bonuses” paid to mayors and financial officers amount to almost R2 billion.

Moshate Investments, intermediary Kabelo Matsepe’s company, received R27 million in facilitation services for almost 27 months.

Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.

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Investors do not want to invest in SA since our national power provider is so unreliable – Communists now demand the end of load shedding after it has already cost the country billion Rand in recent weeks

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ANC, SAKP, Cosatu and Sanco are now demanding the end of load shedding in South Africa.

It is ironic that the people in charge of the country, that is, the ruling ANC party, its alliance partner, the SA Communist Party and unionists now demand that the shedding of power must be discontinued.

The ANC’s Zizi Kodwa issued a statement on behalf of the parties in which statecapture and corruption is blamed as well as Eskom’s incompetence to thrive. During the meeting of partners, the failure of local government was criticised as well as the inability to provide basic services.

In terms of power, the country has already spent billions of Rand in recent weeks, and Ramaphosa’s efforts to attract investors are being harmed by the power supply that is extremely unreliable.

Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.

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Wonderful news, Genetics may be the key to new epilepsy therapies

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An international study has discovered 11 new genes associated with epilepsy, which greatly advances knowledge of the underlying biological causes of epilepsy and may inform the development of new treatments for the condition.

Researchers compared the DNA of more than 15,000 people with epilepsy to the DNA of 30,000 people without epilepsy. This has created a better understanding of genetic factors that contribute to the most common forms of this condition, and the results tripled the number of known genetic associations for epilepsy and implicated 11 new genes.

The majority of current anti-epileptic drugs directly target one or more of the associated genes and identified an additional 166 drugs that do the same. These drugs are promising new candidates for epilepsy therapy as they directly target the genetic basis of the disease.

“This work illustrates the power of scientists collaborating across countries and continents. Discovering these new
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BREAKING NEWS:- Eskom’s application to increase electricity tariffs by 15% open to public debate, now is the time to take a stand!

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It’s important to note that Eskom’s application for a 15% tariff increase is over and above the 4.41% raise already granted to the utility by the National Energy Regulator of South Africa (NERSA) earlier this year.

Eskom is looking to increase national electricity tariffs by at least 15% in 2019 – this application will be open to public comment in January.

The public hearing’s process marks the next step in Eskom’s crusade to amass more cash. Recent financial statements paint a grim picture for the power utility; losses eclipsing R10 billion with maturing debt set to reach R600 billion by 2022.

Eskom out to make The People pay
While mounting evidence points to the cause of Eskom’s economic woes being deep-seated corruption, nepotism and mismanagement – the state owned enterprise is placing the burden of its financial em-battlement solely on the shoulders of ordinary South African citizens.

It’s true
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Government wants to speed up the process to steel land to dune as a motivation for black voters to support the ANC in the coming elections

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Rumours and reports is doing the rounds that ANC is intending to speed up the land theft project, and are already making a fuss so that the forthcoming election results will be beneficial to them.

According to the land claims plan, the regime wants to transfer 30% of the land to blacks within the next five years.

Farmers who made a thorough study of the outcome of such an act predict that it would adversely affect food provision in the country.

The Ramaphosa regime wants to see that the constitution amendment is made before the election in 2019, and there is suspicion that the first land will then be seized to dune as a motivation for black voters to support the ANC.

Political commentators say the action of the ANC does not differ from Mugabe’s actions, and is a portrayal of dictatorship and robbery.

Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.
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Farmers across SA are are currently experiencing huge losses due to Eskom’s unreliable service and continues load shedding

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Farmers across the country, but especially in the soft fruit industry, are at wits end. All this because of the continues load shedding that is currently employed throughout South-Africa. Vessels that deliver water at a certain time of the day for a certain time are now affected by power failures.

The “cold chain”, namely cooling of export fruit is constantly interrupted by irregular power supply, and adversely affects the quality.

This will cause millions of Rand’s damage, and where fruit can no longer be exported due to power failures, the country can lose its status as a reliable supplier.

Dairy’s that works with sensitive and extremely perishable products are now forced to obtain a backup power generator because of the unreliability of Eskom’s service.

Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.

 

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