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Civil unrest, COVID-19 threatening SA’s economic projections: Moody’s
16 July 2021, 3:45 PM

Credit rating agency Moodys says the spike in social unrest in South Africa coupled with the rise in coronavirus infection rates in May and June poses downside risks to its four-percent growth forecast for South Africa this year.

Moodys says while confidence indicators showed improvement in the first half of the year, the evolving situation is likely to have knock-on effects for consumer, business and investor confidence.

The credit rating agency says the unrest also complicates the authorities’ efforts to restore the health of public finances.

Moodys says weaker economic growth would weigh on tax revenue, while government will likely need to support affected businesses and rebuild damaged infrastructure.

It says growing social tensions will also make it even more challenging for the authorities to contain spending.

Moody’s says the violence also highlights the social constraints the government faces in progressing its structural reform agenda.

The protests began after former president Jacob Zuma was jailed for violating a Constitutional Court order.

SA Chamber of Commerce laments business losses due to looting:

Motsepe appointed to WEF board
24 January 2020, 4:44 PM

Prominent South African businessman and founder of African Rainbow Minerals, Patrice Motsepe, has been appointed to the board of trustees of the World Economic Forum.

The announcement comes amid a social media uproar over a video in which Motsepe can be seen telling US President Donald Trump that Africa loved him and America.

Social media is divided with some expressing their dismay at the mining mogul’s display of affection and speaking on behalf of the continent, while others have praised him for his business acumen.

Also read | SA enjoys a great deal of interest from international community: Mboweni
Finance Minister Tito Mboweni says South Africa still enjoys a great deal of interest from the international community and this can help galvanise investment and goodwill towards the country.


Earlier on Friday,  Finance Minister Tito Mboweni said remarks by Motsepe to US President Donald Trump were not representative of the South African government. Mboweni said that Motsepe as an individual has the right to share his opinion and feelings with anyone.

“I think he was well within his rights to express his views. He was very clear that he wasn’t speaking on behalf of the South African government. He doesn’t have the kind of arrogance to speak on behalf of the SA government. And he was in a private meeting and they were having a private conversation and it is perfectly in his own right. People must leave him alone okay.”

WATCH: Motsepe interacts with US President Donald Trump 


Myeni request to amend appeal is delay tactics: OUTA
25 November 2019, 5:08 PM

OUTA’s legal representative advocate Carol Steinberg says former SAA board chairperson Dudu Myeni has failed to give proper explanations as to why she made certain admissions in her plea and why she now seeks to withdraw them.

Steinberg says Myeni’s request to make amendments to her plea should be denied as it amounts to tactical manoeuvring to delay the court in an effort to escape the truth.

The High Court in Pretoria is hearing arguments in the delinquency case brought by OUTA against Myeni.

Steinberg says the basis of Myeni’s request for amendments is dishonest.

“The first objection is that there’s no proper explanation to the proposed amendments. In other words Ms Myeni has failed to discharge her onus of proving that they were made in good faith.”

Myeni has accused her former lawyers at ENS Attorney of unethical behaviour. Myeni says she was not aware of the legal implications of making certain admissions and denials as recorded in her plea.

In her affidavit, Myeni says she relied on the competence and legal expertise of her former lawyers.

Myeni’s new lawyer Nqabayethu Buthelezi says the communication between Myeni’s former lawyers and OUTA’s lawyers about the impeachment of Myeni pleas, could be interpreted as collusion.

He read a statement from Myeni.

Listen to the statement below:

OUTA says there has been no illegal behaviour on the part of its lawyers in obtaining information about Myeni or in its interactions with Myeni’s former lawyers.

In 2017, OUTA and the SAA Pilots Association brought a case against Myeni to have her declared as a delinquent director. Legal Head at OUTA, Stefanie Fick says: “I think it was quite clear from the proceedings that there was no unethical behavior from our legal team and everything was above board.”

International flights and limited regional flights airborne: SAA
19 November 2019, 3:10 PM

Acting SAA Chief Executive Officer Zuks Ramasia says all international flights and a limited number of regional flights are back in the air, despite the strike.

Workers embarked on a strike last Friday over wages and possible retrenchments.

Ramasai says more flight attendants and ground crew are back at work.

She says while unions continue to demand an 8% salary increase, the carrier remains unmoved at 5.9% from March 2020.

SAA CFO Deon Fredericks says the organisation is simply not in a position to afford the 8% wage increase demanded by unions.

Fredericks says, “It will cost this company an additional R240 million over the next three years and as you would appreciate, the most critical part of the turnaround of the company will be in the next two years. We’ve indicated to the unions that currently we can’t afford it, but if we want to structure something in the later years we are very open to do that.”

Ramasia says negotiations with unions will continue.

Watch the media briefing below:


Chose Choeu
TNA breakfasts of no value for Eskom: Chose Choeu at Zondo Commission
30 October 2019, 1:06 PM

The former Executive of Corporate Affairs at Eskom, Chose Choeu says the relationship between Eskom and the Gupta-owned New Age TNA breakfast events began to seem more like a commercial relationship in which TNA was benefitting,  but with no real value for Eskom.

He says that is why he decided not to contract the Guptas’ TNA breakfast briefing for a second time from 2013 to 2014. Earlier, Choeu denied that he pushed for Eskom to sponsor the TNA briefings, following an instruction from former Eskom CEO Brian Dames and former Public Enterprises Minister Malusi Gigaba.

Choeu conceded that the New Age’s business breakfast sponsorships were contracted without getting final approval from Eskom’s sponsorship committee. Choeu is responding to questions at the commission of inquiry into allegations of State Capture currently underway in Parktown, Johannesburg.

Listen to Choeu respond to questions:




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