Zuma’s Lawyer In Sassa Grants Saga

it emerged in the Sunday papers that President Jacob Zuma’s special adviser played a key role in ensuring that Cash Paymaster Services would keep the lucrative contract to deliver more than 17 million social grants to recipients. Michael Hulley’s intervention coincided with Social Development Minister Bathabile Dlamini flatly rejecting any payment option that did not involve CPS, raising questions about why the minister was so intent on retaining the company.

Source : https://goo.gl/3FPu8Z

ANC Contradicts Zuma On Land Reform Method

The ANC says the state should pay fair compensation for land it acquires for distribution to the country’s black majority, contradicting a suggestion by President Jacob Zuma that the constitution should be changed to allow for free expropriation. The party said it needs to focus more intently on the “radical economic and social transformation of our country” to ensure its wealth is more evenly distributed and that it must act urgently to restore its moral character to win back public trust.

Source : https://goo.gl/VJpMbg

Popo Molefe And Prasa Board Take Minister To Court

Members of the former board of the Passenger Rail Agency of SA (Prasa) are lodging an urgent application in the High Court on Monday to reverse their removal by Transport Minister Dipuo Peters and to interdict her from appointing a new board.

Source : https://goo.gl/0HHTv0

Unions Join Up To Protest Eskom Power Station Closures

Rival unions are reaching out to each other to unite against Eskom’s decision to close five coal power stations within five years. National Union of Metalworkers of South Africa (Numsa) general secretary Irvin Jim said he wants to engage with the National Union of Mineworkers (NUM) on this issue. Eskom spokesperson Khulu Phasiwe told Fin24 last week that at least two units of Komati power station have already been shut down to create space for the renewable energy projects.

Source : https://goo.gl/YxJgS1

Bitcoin Price Plunges After SEC Decision

The price of bitcoin plunged from record highs Friday after the Securities and Exchange Commission denied a request for the first bitcoin exchange-traded fund, which could have prompted greater investment in the digital currency.

Source : https://goo.gl/GmuZXo

Elon Musk Offers To Fix Australia Energy Crisis

Elon Musk has promised to solve an energy crisis in Australia within 100 days, or provide the technology for free. Musk was responding to a challenge from billionaire entrepreneur Mike Cannon-Brookes, who wanted to know whether the company was serious in claiming that it could end blackouts in South Australia quickly. Tesla has offered to provide 100 megawatt hours of battery storage at a total cost of $25 million which should supplement the current grid and prevent cuts.

Source : https://goo.gl/NRUcXJ

Indicators : Oil 51.42 – Rand/USD 13.12 – Rand/GBP 16.00 – Rand/EUR 14.00

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Author: The Turk Report

Simplifying complex money matters

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