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Cash-strapped SAA cancels 38 domestic and international flights

Posted on 01/22/2020 Leave a comment

SAA has confirmed its cancellation of 38 domestic and international flights between OR Tambo International Airport and Cape Town, as well as between Johannesburg and Durban’s King Shaka airports.

In a statement, the airline said: “These decisions are in line with SAA’s usual policy of reviewing flights and consolidating services with low demand. Furthermore, during the current process of business rescue, these cancellations represent a responsible strategy to conserve cash and optimise the airline’s position ahead of any further capital investment.”

The airline said it would be reviewing further schedule amendments over the coming days and would communicate any operational changes to its customers.

Those who have already booked the cancelled flights will be re-accommodated on alternative services including Mango.

Below is a list of all the cancelled flights:

The following domestic flights operated by SAA have been cancell
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Alexkor, SA state-owned diamond company is on life support

Posted on 01/20/2020 Leave a comment

South Africa’s state-owned diamond mining enterprise Alexkor is desperately in need of cash to pay expenses, but does the struggling entity deserve more funding?

Its marine-based concessions stretch from Alexander Bay to Port Nolloth, while its land-based concessions span the equivalent of 865km2. It mines the latter through its Pooling and Sharing Joint Venture (PSJV) with the Richtersveld community.

Despite carat sales having increased from 41 941 units to 70 061 in the year to end-March 2019, diamond sales only amounted to R209.9 million (2018: R208.7 million). Cost of sales was R152.9 million (2018: R126.8 million).

The reasons given for this poor performance: an oversupply of diamonds in the market, as well as the quality and size of the diamonds produced.

Land and shallow water diamonds achieved an average of $456.77 per carat (2018: $718.86), while diamonds from its deep water mining concession achieved an average price of $305.6
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SAA director resigns from his post amid crisis at state entity

Posted on 01/20/2020 Leave a comment

SAA director Martin Kingston resigned from his post, and the move was welcomed by the communist-minded Numsa union as well as the trade union Sacca.

The two unions also said the rest of SAA directors should follow Kingston’s example and submit their resignations.

Kingston’s resignation comes after Bloomberg said in his report there is no reason why the director should be on the board.

Kingston apparently decided to resign when the company was placed under rescue because of the extremely poor results being delivered.

The shipping company is still waiting for Treasury to pay the promised R2bn earmarked to keep SAA afloat and is the second part of the R4bn initially promised to the shipping company by the government.

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Poor economic conditions in SA cause job losses

Posted on 01/20/2020 Leave a comment

With the latest announcement from Telkom regarding the retrenchment of nearly 3,000 employees, the mining industry has also warned that they will be following the same route.

Glencore and Merafe are also retrenching due to the poor economy and the extremely expensive electricity.

Unconfirmed reports indicate that about 1,000 jobs have been compromised, of which 660 are at the Rustenburg plant.

The announcement makes the list of larger institutions starting retrenchments longer, and financial experts say it is the beginning of an ever-growing list, which could cause an alarmingly high unemployment rate.

The retrenchments are directly linked to the decline in business due to the poor economic situation in which South Africa finds itself, and the poor power supply is also directly linked to the situation.

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According to experts, Telkom has approximately 4,500 excess staff who are believed to have a direct impact on the profitability of the entity

Posted on 01/20/2020 Leave a comment

The government as Telkom’s largest shareholder has called for an urgent meeting to discuss the company’s plan for retrenching thousands of redundant workers.

Earlier last week, Telkom announced its intention to lay off about 3,000 workers, which is a fifth of its total workforce.

The Department of Communications and Digital Technology has announced that Minister Stella Ndabeni-Abrahams has expressed her concern about Telkom’s intention, and therefore wants to hold an urgent meeting.

Telkom’s shares rose 8% last week after the announcement of the retrenchment of 3,000 people.

Several economic experts believe Telkom has at least 4,500 excess staff, which has a direct impact on the profitability of the entity.

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SA is one of 8 states threatened by famine

Posted on 01/20/2020 Leave a comment

South Africa is one of several states in Southern Africa that are among the 45 million people who will face famine in the coming winter months.

The eight states, of which Zimbabwe, Zambia, Mozambique, Madagascar, Namibia, Lesotho, Malawi and possibly Botswana are experiencing drought conditions while the economic conditions are also worrisome, have led the United Nations Food Program to issue a serious warning that 45 millions of people could be trapped in the famine.

However, Zimbabwe is in the worst strangle of famine and is even worse than a decade ago with about 8 million people facing food shortages.

In Zambia, it is envisaged that more than 20% of the population will not have food during the winter months, and this has prevented any export of foodstuffs produced.

Lesotho and Namibia could lose 10% of its population due to famine if assistance does not come from elsewhere.

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#TheAfricanWay Toilet scandal – several senior ANC officials arrested after being awarded R650m tender to build 66,000 toilets

Posted on 01/19/2020 Leave a comment

Although nine people have been arrested who are suspected of being involved in the toilet scandal in the Eastern Cape, this does not mean that no more arrests can be made.

Those already captured are likely to include high-profile government officials, as well as so-called businessmen who have filled their pockets.

The nine were arrested by the Hawks in various provinces such as Gauteng, Natal, the Eastern Transvaal, and the Eastern Cape.

A tenth person was later arrested after those already in custody began untying their tongues.

The notorious Amathole District Municipality toilet scandal came to light in 2015, where R630m was awarded a tender to build 66,000 toilets in the Eastern Cape, but never became a reality.

Several senior figures from the ANC are being held, but no names have been released while awaiting trial.

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R23 Million for Telkom CEO, R100 million for executive team but 3000 employees are retrenches due to lack of finance

Posted on 01/17/2020 Leave a comment

Trade union Solidarity has launched an attack on Telkom for planning to fire 3,000 employees after paying its executive team more than R100 million. Telkom recently announced that it is planning to cut as many as 3,000 jobs across the company and has served unions with letters regarding the Section 189 process. “Telkom will continue..
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Controversial Panyaza Lesufi’s online registration system plunges schools across SA into total chaos

Posted on 01/17/2020 Leave a comment

The placement of pupils by the Department of Education has created new crises, leaving parents and pupils furious.

Cases have been reported from certain schools in the Central Transvaal region that are hopelessly overcrowded, which have apparently been criticized for evading the truth many pupils have not even be placed yet.

What is alarming, however, is that pupils are so misplaced that they are now up to 40 km away from the school they have to travel to every day.

The chaos that prevailed at many schools on the first day of school was fiercely denied by Gauteng spokesperson Lesufi of the education department

Educators believe that whites should immediately take their children out of the crowded classrooms and place them in private schools where adequate space and good teaching methods are applied.

The excellent academic achievements of BCVO schools have shown that pupils not only receive excellent education but also broaden their
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SA in crisis while ANC eats cake, celebrating its 108 years

Posted on 01/16/2020 Leave a comment

The ruling Anc party,was holding a rally in Kimberley celebrating its 108 years.This celebration, which is usually accompanied by a jovial mood of song and dance by party leaders, members and supporters, happens during a time when the country has been plunged into several crises of epidemic proportions. Can the ANC really afford to celebrate? Can it afford to pop Champagne during such difficult times faced by the country?

Poverty levels are accelerating, inequality is deepening, unemployment levels have reached the highest percentage of 29.1% in the last quarter of 2019, the highest recorded by Statistics SA since 2008, with 9.6 million South Africans currently unemployed, 8.6 million of these being black.

The economy is battling to recover from a technical recession, with the country constantly facing a threat of being given junk status by rating agencies.

One of the major crises facing the country is the power utility Eskom, which has struggle
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