The SA Politics Thread Part 7 - The Truly GNU Dawn

ToxicBunny said:
So I think Panty's intentions are probably noble and all that, but they just totally ignore economic reality.

The government doesn't have the funds to finance a bank, and if the private sector get involved to fund it they'll slap requirements on it so that Panty's intentions are entirely pointless in terms of lending money to the segment of the population he thinks he can do.

No bank is going to stump up cash for a segment of the population that is very risky without throwing the highest interest rates and surety requirements at it that they can. FICA and NCR requirements will also prove to be a stumbling block.
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Hmmm, and I'm sure the VBS executives intentions were probably noble. Not really, not at all.
 
cr@zydude said:
Who signed off on the non-compliant contractor in the first place?
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Something going down. Just in case paywalled:

"Five managers of the Tshwane Metropolitan Council have been sued by their employer for about R160 million over a tender that went wrong in 2018, leading to massive unauthorised expenses.

Others are under scrutiny for a music festival that then-mayor Kgosientsho Ramokgopa, now the minister of energy and electricity, intended to boost the city’s economy – for which the council spent R60 million in 2014. The festival never took place, and all the money was wasted. Audit firm KPMG completed an investigation into the debacle in 2017, and the council is finally acting against the culprits."

www.moneyweb.co.za

Tshwane clamps down on officials over bad expenditure

Salga awards metro for improvements in financial management.
www.moneyweb.co.za www.moneyweb.co.za
 
Oldfut said:
Something going down. Just in case paywalled:

"Five managers of the Tshwane Metropolitan Council have been sued by their employer for about R160 million over a tender that went wrong in 2018, leading to massive unauthorised expenses.

Others are under scrutiny for a music festival that then-mayor Kgosientsho Ramokgopa, now the minister of energy and electricity, intended to boost the city’s economy – for which the council spent R60 million in 2014. The festival never took place, and all the money was wasted. Audit firm KPMG completed an investigation into the debacle in 2017, and the council is finally acting against the culprits."

www.moneyweb.co.za

Tshwane clamps down on officials over bad expenditure

Salga awards metro for improvements in financial management.
www.moneyweb.co.za www.moneyweb.co.za
Click to expand...
Others are under scrutiny for a music festival that then-mayor Kgosientsho Ramokgopa, now the minister of energy and electricity, intended to boost the city’s economy – for which the council spent R60 million in 2014. The festival never took place, and all the money was wasted.
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Holy moly... 60 million (10 years ago) for a music festival ? WTF .... and the music festival didn't even happen. 60 bar gone...
 
lumeer said:
I guess however that running a state bank will be easy if the true intention is to raid the bank à la VBS, and then rely on government bailouts to keep the bank afloat.
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Never go with a state bank. Not just here, anywhere.

Number of relatives had issues with state banks in other countries and yes some collapsed too so don't believe the backed by government and taxes. Bank may recover but you would still sufer.
 
lumeer said:
Ha-ha. Ha-dee-ha. Very funny. The very same provincial government who can't even reliably disburse grant money to NGOs, are now speaking of forming a state bank.
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They have two commercial state banks.
Post bank and land bank.
 
Oldfut said:
Hmmm, and I'm sure the VBS executives intentions were probably noble. Not really, not at all.
Click to expand...

Initially they probably were, and they worked relatively well given how big VBS got.

Then the lure obviously got too much and well we know what came after that.
 
Oldfut said:
Something going down. Just in case paywalled:

"Five managers of the Tshwane Metropolitan Council have been sued by their employer for about R160 million over a tender that went wrong in 2018, leading to massive unauthorised expenses.

Others are under scrutiny for a music festival that then-mayor Kgosientsho Ramokgopa, now the minister of energy and electricity, intended to boost the city’s economy – for which the council spent R60 million in 2014. The festival never took place, and all the money was wasted. Audit firm KPMG completed an investigation into the debacle in 2017, and the council is finally acting against the culprits."

www.moneyweb.co.za

Tshwane clamps down on officials over bad expenditure

Salga awards metro for improvements in financial management.
www.moneyweb.co.za www.moneyweb.co.za
Click to expand...

So 2014 is an ANC mess. Was 2018 when the DA ran the city?
 
ToxicBunny said:
Cos double barreled sounds better and more importanter and Twat Twaddle needs to have his ego stroked.
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He speculated that there won't be need of Minister of Electricity by end of 2024 so wag n bietjie.
 
TheChamp said:
KZN voters continue to be very unpredictable and very confused when they are faced with choosing between two Zulu parties, just a month from voting for MK to voting IFP and a 30% swing is just amazing.
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It's very predictable. They vote for the biggest chief.
 
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