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Eskom notes liquidity reports

Eskom says it has noted media reports that relate to its liquidity challenges and financial sustainability. The power utility on Monday said it has always maintained that the 2.2% tariff increase for the 2017/18 financial year will present challenges to the company’s liquidity position for the current financial year. “As a result, Eskom has had to undertake certain financial commitments …

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Sachs resignation a huge blow to the National Treasury

Democratic Alliance has reacted with shock to the resignation of veteran budget office head, Michael Sachs, saying his departure is a huge blow to the National Treasury. DA Shadow Minister of Finance David Maynier said Sachs exit confirms fears that decision-making on budget priorities and the budget itself, have now been centralised under President Jacob Zuma. “And it seems that …

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No sign of R1m salary from Royal Security in President Zuma’s declaration of Interests

President Jacob Zuma did not declare any salary earned from his friend and business mogul, Roy Moodley’s company [Royal Security] during the 2009/10 financial year in the register of his financial interests, said Democratic Alliance Leader Mmusi Maimane. “I can today [Monday] confirm President Zuma did not declare any salary earned from Royal Security company,” said Maimane. Maimane said the …

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State guaranteed loans could fund varsity fees

The Heher commission has recommended that all tertiary students in South Africa be given access to State guaranteed bank loans, which they would only pay back once they start earning a certain income. The Commission of Inquiry into the feasibility of making higher education and training fee-free in South Africa has recommended that all students studying at both public and …

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DA filed papers in court to demand answers from President Zuma

President Jacob Zuma has been served with court papers following his failure to answer a Parliamentary question put to him by Democratic Alliance (DA) leader, Mmusi Maimane. This is a sequel to President Jacob Zuma’s refusal to answer question posed by Maimane in the National Assembly to determine how much public money has been spent, avoiding the 783 charges of …

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ConCourt gives SASSA December deadline

Social Development Minister Bathabile Dlamini has welcomed the Constitutional Court’s directives to the South African Social Security Agency (Sassa) to deliver a comprehensive plan to the court by 8 December 2017, detailing how it will pay more than 17 million grant recipients. According to the Social Development Department, the Minister has directed SASSA to comply with the directives and instructed …

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Maimane to view President Zuma’s declaration of interests documents

Democratic Alliance (DA) Leader Mmusi Maimane is heading to the Union Buildings in Pretoria to go through President Jacob Zuma’s declaration of interests documents. “I will be viewing the President’s declaration of interests documents, with a particular eye on whether he declared the R1 million per year salary he received from his friend and tender mogul, Roy Moodley’s company [Royal …

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President to announce higher education funding soon

President Jacob Zuma says he will soon make an announcement on the funding for higher education. The President said this when he made his annual address to the National Council of Provinces on Thursday afternoon. “I am aware of the anxiety regarding the funding for higher education. As matric pupils pass, the challenge becomes funding for further education. “The Inter-Ministerial …

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Deputy Minister refutes Gupta meeting claims

Public Enterprises Deputy Minister Ben Martins has rebutted a testimony by Eskom’s suspended company Secretary and legal services head Suzanne Daniels that he attended a tea party that was also attended by, among others, members of the Gupta family. The Deputy Minister briefed the media at the Imbizo Centre in Parliament on Thursday. “I am perplexed by Ms Suzanne Daniels’ …

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Former Eskom Finance Director, Tsholofelo Molefe was suspended for not playing the ball

Portfolio Committee on Public Enterprises on Wednesday heard evidence from two witnesses. The former Finance Director Tsholofelo Molefe and Group Executive Legal and Compliance Suzanne Daniels gave evidence during the inquiry into Eskom’s mismanagement of public funds. Daniels described to the Committee payments made by Eskom to Trillian and McKinsey under the second contract paid between August 2016 and February …

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