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Ted Black aims his pen at Aspen and Tongaat, with the latter having already joined the South African “80% Value Destruction Club” and the former close to it.
And SOE it goes: As turnaround plans stumble, SABC is the latest entity to face financial point of no return.
Steinhoff and Tongaat Hulett’s admission it may need to restate results is spurring South African auditors to weigh tougher measures for the profession.
The question has to be asked; is Tito Mboweni allowing SAA a merciful death rather than depleting the Eskom-thinned state coffers any further?
We take a look at South Africa’s current interest rates as set by the SARB monetary policy committee and find our interest rates are far above suggested ‘Taylor’s Rule’ levels.
The scandal has the whiff of deep-seated deceit, with onlookers cautioning that Tongaat Hulett is looking like another Steinhoff.
South African Airways’s prospects of surviving in its current form took a hit over the weekend when news broke that Chief Executive Officer Vuyani Jarana quit over a lack of government support.
South African Airways Chief Executive Officer Vuyani Jarana quit the financially stricken state-owned company, citing a lack of funding and drop in government support for the carrier’s turnaround plan.
The labour union whose members contribute most to the funds overseen by South Africa’s state pension manager wants the institution to stop investing in the debt of Eskom.
Not until now has the growing anger of the state’s 1.7 million pensioners been fully voiced at the cavalier, inept, and deeply irregular investment and/or theft of their retirement funds.