The SA Politics Thread Part 3

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PrimeSteak said:
The oke - Pappas
Mphophomeni - One of the townships/towns/areas in uMngeni.

I.e. if he can win their support without them protesting, he is a national hero according to @Oldfut
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Lol - I thought Mpho was a person. What are they protesting about? Is that where they cut off the non payers?
 
PrimeSteak said:
https://twitter.com/x/status/1631953722325585922
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I still think that paying off that loan early was a bad idea. Could the mayor think of no project worth spending the money on? If the town is a utopia and doesn't need anything, money could still be made from keeping the loan open. That loan has a 4.3% per year interest rate. The town could get a lot more than that on a R10 million deposit in a fixed term savings account.
 
cr@zydude said:
I still think that paying off that loan early was a bad idea. Could the mayor think of no project worth spending the money on? If the town is a utopia and doesn't need anything, money could still be made from keeping the loan open. That loan has a 4.3% per year interest rate. The town could get a lot more than that on a R10 million deposit in a fixed term savings account.
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Saving R450 000 not good enough for you? How long is this fixed term?
 
wingnut771 said:
Saving R450 000 not good enough for you? How long is this fixed term?
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www.capitecbank.co.za

Fixed-term savings

Earn higher interest with our free fixed-deposit savings plans . Get started on our app .
www.capitecbank.co.za www.capitecbank.co.za

A 6 month term could have earned 8% per annum so would bring in around R800 000 per annum. That's enough to pay the R450 000 interest and make the town an extra R350 000 each year.
 
cr@zydude said:
www.capitecbank.co.za

Fixed-term savings

Earn higher interest with our free fixed-deposit savings plans . Get started on our app .
www.capitecbank.co.za www.capitecbank.co.za

A 6 month term could have earned 8% per annum so would bring in around R800 000 per annum. That's enough to pay the R450 000 interest and make the town an extra R350 000 each year.
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Are you allowed to put R10 million into a capitec fixed term savings? Why not make the loan R10 billion and make a thousand times more money, that way they don't have to charge the residents any rates?
 
wingnut771 said:
Are you allowed to put R10 million into a capitec fixed term savings? Why not make the loan R10 billion and make a thousand times more money, that way they don't have to charge the residents any rates?
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I have heard that Capitec would take a R10 million deposit. Capitec's website doesn't state a deposit limit.

The town might not be able to get a R10 billion loan, and probably not at 4.3%. It did have a R10 million loan and could have done more with it than simply pay it back.
 
Galactica said:
Right man for the job who screwed up coalitions in metros, leading a party that's relying on coalitions in the 2024 National Elections.
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How did he screw up anything?

PA held the coalition at gunpoint in JHB. EKH was always a non-starter cause EFF. And TSH's coalition hasn't fallen but some rogues in the ranks assisted the ANC coalition in regaining power for now.
 
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