‘I endorse them all’: Ramaphosa supports Mboweni’s economic growth plan - including selling older power stations

[Jopie Fourie]

President Cyril Ramaphosa says he is in full support of finance minister Tito Mboweni’s controversial economic development plan, the Economist reports.

The plan by the national treasury, which is opposed by ANC alliance partners Cosatu and SA Communist Party, was abruptly released in August. It promises to raise average economic growth in South Africa by 2.3 percentage points over ten years, and create just over one million jobs.

Some of the more controversial aspects of the plan include selling coal-fired Eskom power stations, introducing private competitors for Transnet, and for cities take control of rail management.

In an interview with The Economist, Ramaphosa said: "I endorse all of them."

He said he agreed that South Africa’s visa policies need to be amended to allow more skilled immigrants into the country, referring to the United States’ Silicon Valley's success from immigrants.

However, echoing comments he made in Parliament last week, Ramaphosa said he would not sell new Eskom power stations, but is open to the older stations in Eskom's fleet being sold to extend their lives.

At the opening of his Presidential economic advisory council last week, Ramaphosa said many of the reforms the state is currently engaged in comes from proposals by the National Treasury.

‘I endorse them all’: Ramaphosa supports Mboweni’s economic growth plan - including selling older power stations | Businessinsider

The controversial plan is opposed by ANC alliance partners Cosatu and the SACP, but Ramaphosa told the The Economist he is right behind it.

www.businessinsider.co.za

 

[Jopie Fourie]

The plan by the national treasury, which is opposed by ANC alliance partners Cosatu and SA Communist Party, was abruptly released in August. It promises to raise average economic growth in South Africa by 2.3 percentage points over ten years, and create just over one million jobs.

So, the plan has been launched with the aim of fooling Moody's and international investors, right?

Some of the more controversial aspects of the plan include selling coal-fired Eskom power stations, introducing private competitors for Transnet, and for cities take control of rail management.

In an interview with The Economist, Ramaphosa said: "I endorse all of them."

Yet a few days ago he explained in SA why they will not sell it off. Wonder if he knows the news are already abroad too?

He said he agreed that South Africa’s visa policies need to be amended to allow more skilled immigrants into the country, referring to the United States’ Silicon Valley's success from immigrants.

Bring them here, tax them to death, take their land and investments, oppress them due to the colour of their skin via organs like the SAHRC and the SA Judicial System... yeah right..... I am sure they will all flock to SA for this wonderful experience.

 

[Milano]

Not to fool Moody's but to assist them. Moody's needs the SA government to put forward a plan, any plan, if only to give the appearance of having applied their collective mind to the upcoming unchanged rating.

 

[TheChamp]

So, the plan has been launched with the aim of fooling Moody's and international investors, right?


Yet a few days ago he explained in SA why they will not sell it off. Wonder if he knows the news are already abroad too?


Bring them here, tax them to death, take their land and investments, oppress them due to the colour of their skin via organs like the SAHRC and the SA Judicial System... yeah right..... I am sure they will all flock to SA for this wonderful experience.

His message on Eskom looks consistent to me, care to point out any contradiction between what he said a few days ago and what he is saying now?

 

[ForceFate]

So, the plan has been launched with the aim of fooling Moody's and international investors, right?



Yet a few days ago he explained in SA why they will not sell it off. Wonder if he knows the news are already abroad too?



Bring them here, tax them to death, take their land and investments, oppress them due to the colour of their skin via organs like the SAHRC and the SA Judicial System... yeah right..... I am sure they will all flock to SA for this wonderful experience.

Ramaphosa, in response, said there were no plans to auction power plants. "In my book, you are not going to sell the new power stations, because they are the crown jewels of Eskom. And who will buy the old and ageing power stations? They will never find a buyer."

He said if someone did came forward to buy the old stations, committed to keep them running and employ workers and "breathe new life into them", then this was a different proposition.

Ramaphosa: Government will not sell off 'crown jewels' of new power stations | Fin24

The president was answering questions in Parliament.

m.fin24.com

 

[Jopie Fourie]

His message on Eskom looks consistent to me, care to point out any contradiction between what he said a few days ago and what he is saying now?

Why we can’t sell Eskom’s power stations: Ramaphosa

When asked as to whether government will sell any Eskom power stations, as outlined in finance minister Tito Mboweni’s proposed economic policy, Ramaphosa said there were issues with this plan.

businesstech.co.za

When asked whether the government will sell any Eskom power stations – as outlined in finance minister Tito Mboweni’s proposed economic policy – Ramaphosa said there were issues with this plan.

He noted that a number of the country’s power stations are set to be decommissioned due to age, while the country is reliant on the newer stations for power generation.

Ramaphosa said that there are also a number of periphery issues to consider, including entire communities which were attached to and relied on power stations for job creation.

So, basically, he does not plan on selling any of the old stations. He did mention that if someone offers to buy it, then it will be a different matter - with a lot of strings attached - naturally. So, who in their right minds will want to buy them? In effect, they will basically never shut down, even if the tax payer keeps them running for the communities.

 

[TheChamp]

Why we can’t sell Eskom’s power stations: Ramaphosa

When asked as to whether government will sell any Eskom power stations, as outlined in finance minister Tito Mboweni’s proposed economic policy, Ramaphosa said there were issues with this plan.

businesstech.co.za

So, basically, he does not plan on selling any of the old stations. He did mention that if someone offers to buy it, then it will be a different matter - with a lot of strings attached - naturally. So, who in their right minds will want to buy them? In effect, they will basically never shut down, even if the tax payer keeps them running for the communities.

So where did he say he will never sell any power stations?

 

[ɹǝuuᴉM]

His message on Eskom looks consistent to me, care to point out any contradiction between what he said a few days ago and what he is saying now?

Of course Comrade. To you and millions others, it looks .

 

[Vrotappel]

More talk. Where's the action?

 

[grok]

Ramadingbat also endorsed Zuma..

 

[Johnatan56]

Not to fool Moody's but to assist them. Moody's needs the SA government to put forward a plan, any plan, if only to give the appearance of having applied their collective mind to the upcoming unchanged rating.

Nope, Moody is not an idiot, there have been too many promises with none of it going through, they're going to want to see action, the plan will not delay their decision by much I reckon.

 

[Jopie Fourie]

Nope, Moody is not an idiot, there have been too many promises with none of it going through, they're going to want to see action, the plan will not delay their decision by much I reckon.

The better rating agencies, S&P and Fitch, are the more serious ones and cannot be easily fooled. They saved investors across the globe billions by rating South Africa as Junk in 2017 already. They saw right through the government and its leaders' inability to run the country. Strange that the weakest of the 3 agencies still has not made a move to date from 2017. I can't help to wonder how many of their clients lost a lot of money in SA due to such bad analysis.

 

[Milano]

Nope, Moody is not an idiot, there have been too many promises with none of it going through, they're going to want to see action, the plan will not delay their decision by much I reckon.

It appears you misunderstood my post.

 

[ponder]

His message on Eskom looks consistent to me, care to point out any contradiction between what he said a few days ago and what he is saying now?

He's talking kuk, it's in clear violation of the triparty ndp manifesto. The anc/sacp/cosato will never allow this. It's just useless PR.

Willing to put a gentleman's wager on it, say R10k if it happens in his term? We can leave the money with rpm or an escrow account of sorts?

 

[TheChamp]

He's talking kuk, it's in clear violation of the triparty ndp manifesto. The anc/sacp/cosato will never allow this. It's just useless PR.

Willing to put a gentleman's wager on it, say R10k if it happens in his term? We can leave the money with rpm or an escrow account of sorts?

Okay I will spread the word, will let you know if there's anyone who is willing to take the bet.

 

[Jopie Fourie]

Okay I will spread the word, will let you know if there's anyone who is willing to take the bet.

Not a lot of trust you are displaying there...

 

[TheChamp]

Not a lot of trust you are displaying there...

I am not the one going around telling stories, what trust should I display?

 

[ponder]

Okay I will spread the word, will let you know if there's anyone who is willing to take the bet.

Was directed at you and not others. If you believe in what he said then surely it's an easy R10k in your pocket for zero effort despite my ndp ramblings, not?

Edit: Ok make it R10 then, hell make it R1 as I'll still win. So happy with R1?

 

[TheChamp]

Was directed at you and not others. If you believe in what he said then surely it's an easy R10k in your pocket for zero effort despite my ndp ramblings, not?

What is it about me that makes you lose objectivity and all logical sense of reasoning and comprehension?

Where did I say I believe in what he said?

 

[ponder]

Where did I say I believe in what he said?

Probably in not so many words,

His message on Eskom looks consistent to me...

So I'll capitulate and say that cannot be taken as a full endorsement or that you believe him, my apologies for that.

Do you believe what he said though?

I don't believe him for a second.