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South Africa discussion.


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#161 COSMIC RHINO

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Posted 21 October 2016 - 08:37 AM

BUSINESS DAY reports in its premium subscriber area that the major energy group Eskom  has decided to use nuclear energy , regardless of the absence of an updated energy blueprint 

 

it is also not following the government policy on purchasing energy from independent producers

 

as I am not a premium subscriber I can't give further details

 

 

BIZNEWS reports that  the govt energy plan includes 9,600 mw of nuclear power , it is massively expensive , around ZAR 150 billion in cost and subject to a high court challenge on environmental grounds to be heard in dec 13 and 14


Edited by COSMIC RHINO, 21 October 2016 - 08:55 AM.

Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#162 optig

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Posted 21 October 2016 - 09:52 AM

This is just ridiculous,especially considering that the private sector in South Africa is rapidly developing alternative sources of energy which South Africa abounds in. We should also consider that South Africa will benefit from the massive system of dams which is being constructed in D.R.C, by the Chinese. Apparently, it will provide hydroelectric power to all of Southern Africa including to even South Africa itself. 



#163 COSMIC RHINO

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Posted 25 October 2016 - 07:46 AM

There is more coverage on BUSINESS DAY

 

  • the regulated energy price is under the cost of production
  • Eskom is not keen on using independent energy producers and regards renewables as too expensive
  • an energy department study shows that wind and solar power are the cheapest sources

 

the DAILY MAVERICK   has just revealed that Eskom had a late night tenders committee following Gupta  being refused   ZAR  600 million bridging loan. to help buy Oakbay resources .

 

Eskom agreed to pay them ZAR 587  in advance of  any coal being delivered.  this was included in a June eposide of carte blanche

 

please see http://www.dailymaverick.co.za  20  OCT  R 587 M IN SIX HOURS HOW ESKOM PAID FOR GUPTA MINE 

 

this event is believed to be in the yet to be public protector's report on state  capture

 

this could be part of the problems with the business making massive advance payments for things yet to be supplied

 

no one asked the question what would a proper audit find ?


Edited by COSMIC RHINO, 25 October 2016 - 07:53 AM.

Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#164 COSMIC RHINO

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Posted 03 November 2016 - 07:35 AM

BUSINESS DAY reports  TINA JOEMAT PATTERSSON WAS ADVISED AGAINST NUCLEAR ENERGY  3 NOV

 

  • a ministerial committee on energy has advised against nuclear power on cost grounds
  • the draft Integrated Energy Plan imposed an arbitrary limit on renewable energy, this is the origin of the desire to go nuclear

Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#165 COSMIC RHINO

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Posted 08 November 2016 - 07:31 AM

this one is fascinating  and very detailed,  pres zuma  personally negotiated the nuclear power plant  deal with the Russians, and the likely uranium suppliers are Gupta family companies 

 

I have just started looking at  the RAND MAIL MAIL  as they have online links with BUSINESS DAY

 

This one came up as a popular story even though it is from a while ago , they are very through  the story goes to 311 footnotes

 

please see http://www.rdm.co.za  2 FEB 2016  ZUMA,THE GUPTAS AND THE RUSSIANS - THE INSIDE STORY


Edited by COSMIC RHINO, 08 November 2016 - 07:39 AM.

Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#166 COSMIC RHINO

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Posted 11 January 2017 - 08:05 AM

thinking about  things  is Eskom in a total PR spin cycle on nuclear matters

 

I trust that they are reading the press

 

putting things together

 

  • nuclear does not fit in with the energy plan
  • there  are issues as to if the scheme was approved
  • there are claims of political influence  and corruption
  • there is a court challenge against the scheme
  • nuclear power can't compete on cost and is probably not needed to get the required generation capacity

 

it would appear that they have made a decision to go on regardless for some unexplained reason

 

have they gone to a new respected legal advisers  for an opinion of their chances of a court win, not the usual counsel  who would say yes so they can get paid  their fees ?

 

this all makes a very bad impression on anyone local and foreign who cares to read

 

 

of great concern it could raise governance issues , which ratings agencies are on record as a item which will be taken into account  when deciding if the sovereign debt will be downgraded

 

it would appear that they have lost the ability to sensibly take policy decisions and are determined to get their own way at any cost  


Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#167 optig

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Posted 27 January 2017 - 10:48 AM

http://www.iol.co.za...g-quota-7509107 I really wonder if the association of South African hunters has ever bothered to even take a census of the leopard population. If so many leopards in South Africa have been the victims of poachers or for use in traditional ceremonies than when are they doing to stop it? Wouldn't we all think that it's a terrible step in the wrong direction to allow leopard hunting to resume?



#168 optig

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Posted 28 January 2017 - 07:40 AM

http://allafrica.com...1701260241.html

 

This is encouraging because it shows that South Africa is moving to the right direction. This technology can be used all over Africa. Africans as we know are already the world's best recyclers and this adds another dimension to it. 



#169 SSF556

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Posted 09 February 2017 - 10:08 PM

Fights breakout in Parliament at SA State of Nation Address....does anyone know who the people are wearing all red?

 

https://youtu.be/k97X2ewiG_8


Edited by SSF556, 09 February 2017 - 10:08 PM.


#170 COSMIC RHINO

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Posted 10 February 2017 - 05:12 AM

the EFF economic freedom fighters wear red Julius Malema and co

 

Zuma is no good, but having a fight in parliament is degrading


Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#171 SSF556

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Posted 26 February 2017 - 04:30 PM

Zuma making headlines again.

http://www.huffingto...llow-expropria/

#172 COSMIC RHINO

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Posted 28 March 2017 - 03:35 AM

I really wonder what is going on

 

the DAILY MAVERICK  reports that  pres zuma   has told finance minister gordham  to come back  early as there is going to be a cabinet reshuffle

 

so they are cancelling a series of foreign investment presentations  in the USA for that, and they desperately needed the money

 

this is not the sort of act to inspire  confidence

 

the guy who is there at the moment is one of the few who is actually respected

 

select the wrong finance minister and you  damage the  economy

 

there have been reports that the firmer head of the electricity company could go there

 

he has made a mess of power, now to mess up the nation


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Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#173 COSMIC RHINO

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Posted 29 March 2017 - 03:36 AM

no change of finance minister ,interesting articles to read at DAILY MAVERICK , exchange rates are down a bit


Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#174 COSMIC RHINO

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Posted 29 March 2017 - 05:24 AM

looks like this is about removing people who do not support Zuma's dubious relationship with the Gupta family


Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#175 COSMIC RHINO

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Posted 29 March 2017 - 08:51 AM

BUSINESS DAY reports that it is just a matter of time before P Godham is replaced as finance minister, they estimate that exchanged rate movements since his recall from the investor presentation will cost an extra USD 202 per year in added interest payments on the official debt 

 

Pres Zuma  is following the family wishes that he stays away from the funeral of an esteemed anti aparthied veteran Ahmed Kathrada


Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#176 COSMIC RHINO

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Posted 31 March 2017 - 09:43 AM

the finance minister and his deputy have been dismissed , Gupta friendly replacements announced around mid night  following a high level ANC meeting

 

the media reports are universally critical , it has been called the night of the long knives

 

there is now talk of a Gupta associate buying out a bank, something the dismissed well regarded minister would not have given consent to 


Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#177 COSMIC RHINO

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Posted 04 April 2017 - 09:27 AM

things are not going at all well

 

standard and poors has downgraded official debt to junk status , moodys is doing an official credit rating review

 

s and p cited the change in finance ministers as the reason for the downgrade , he was the one who was trying to control corruption  and excessively close Gupta family business influence on  the government

 

the new cabinet has strong gupta links, this includes the finance minister

 

the rand is going down and the local people will be hurt


Edited by COSMIC RHINO, 04 April 2017 - 09:31 AM.

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Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#178 COSMIC RHINO

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Posted 05 April 2017 - 04:41 AM

the  much criticised former CEO of power utility Eskom is now a member of parliament 

 

there is talk in the media  that   his tenders went to Gupta linked companies

 

there is talk in the media that changes in the ministers for energy and finance could result in a bad and expensive nuclear deal being approved 

 

it gets worse over time as it will be financed on debt

 

Zuma seems well adapted  going from scandal to scandal and staying around

 

at the moment 

 

  • the communist party  and the trade union confederation is in an alliance with the ANC, they have both asked Zuma to resign
  • the ANC integrity commission wants him to resign
  • there will be a vote of no confidence in parliament, but the ANC have the numbers and are likely to stick together
  • there will be a  mass peoples march on Friday

Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#179 COSMIC RHINO

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Posted 05 April 2017 - 08:59 AM

  • on the basis of the union confederation call for Zuma to resign there is some renewed support for ZAR and bonds
  • the S and P downdrade is for foreign debt only, domestic debt remains investment grade
  • the moody's review will take 30 to 90 days
  • the financial press considers it likely that moody's to will give a junk rating
  • the third major  agency  Fitch  has not announced a review, but their last one in Nov 2016 was not good and had a negative outlook
  • the new finance minister has a staff of 16 from his former home affairs  office, how much they know about economics is something else
  • the former finance minister and deputy shared a staff of 9
  • there is talk of the director general of treasury leaving by the end of April , if this happens other key officials might  also do so

Edited by COSMIC RHINO, 05 April 2017 - 09:10 AM.

Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.


#180 COSMIC RHINO

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Posted 06 April 2017 - 01:52 AM

not mentioned by the financial press, but  reported by DAILY MAVERICK is a Fitch ratings  report  due this Friday


Wild Africa is in my blood. All life is sacred and interconnected. for the animals are fellow nations caught in the splendor and trevail of the earth.






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