@KhananiShingan1 You may also wake up to find that the R2k from hubby is him making sacrifices for her and the R25 from the side is him throwing her his pocket money because he can afford. If you have ever had to make ends meet you'd understand that those crown jewels is someone's blood and sweat
Punters please can you help make this trend so that the relevant people can be held accountable: @BetJetsZA is running a scam you are told to make deposits before funds can be withdrawn and each time you are told to add more money for the next level so you can withdraw.
Punters please can you help make this trend so that the relevant people can be held accountable: @BetJetsZA is running a scam you are told to make deposits before funds can be withdrawn and each time you are told to add more money for the next level so you can withdraw.
@GaytonMcK@GaytonMcK there's a guy named Papi, he's a Chiefs fan who sells cold drinks at the corner of Winnie Mandela and Uranium in Fourways, by the Fourways Crossing McDonald's. He's always in full kit and if he's not there he's at their games. Ask anyone and they would know him.
So the IDC just ran a paid News24 piece telling South Africa how great they are. Allow me to do something the IDC apparently cannot: basic maths.
They say they approved R26.6 billion in “transformation funding” last year and “created or preserved” 15,000 jobs.
That is R1,773,333 per job.
One million, seven hundred and seventy-three thousand, three hundred and thirty-three rand. Per job.
You could pay someone the average South African salary for nearly seven years with that money. Or you could give it to the IDC and they will “create or preserve” one job. Maybe. If the company does not end up in their R30 billion distress portfolio.
Oh, did I not mention that? The IDC’s distress portfolio, that is the money they invested that is now in trouble, is R30 billion. That is bigger than the R26.6 billion they approved this year. They are underwater. They are losing money faster than they are deploying it.
And of that R30 billion in distress? R9 billion is in black-empowered entities. So roughly a third of the “transformation” money they are bragging about in paid newspaper articles is currently circling the drain.
But wait, there is more.
Since 2017, the IDC has given R8.5 billion to 128 black industrialists. Sounds impressive until you learn that a single manganese company got R6.1 billion. One company. That is 72% of the total. Three companies consumed virtually the entire allocation.
The average per industrialist? R66.4 million.
Here is my favourite part: the IDC says 88% of its funding goes to black-owned businesses. Beautiful number. Very clean. Very round. Very paid-media-friendly.
But when NAFCOC went to Parliament and said the IDC is undermining black industrialists through “aggressive recovery actions, premature legal enforcement, and liquidation processes,” the Portfolio Committee Chair responded: “It appears that the IDC has not effectively embedded issues of transformation in its business processes.”
That is Parliament. Not me. Parliament.
So here is what R26.6 billion in “transformation funding” actually looks like:
1. R1.77 million per job (if you believe the job numbers).
2. R30 billion in distress (which they do not mention in the paid article).
3. R9 billion in black business distress (which they definitely do not mention).
72% of black industrialist funding going to three companies (which they will never mention).
But sure. Run the paid article. The maths will still be here in the morning.
@CoruscaKhaya This is sad considering all the fraud people have been reporting has gone unresolved with monies stolen from their accounts while executives earn such amounts.
@destinyzee Also having issues with @CapitecBankSA and tired of writing emails as they have said they won't assist. After reading this thread might as well change banks. Bye @CapitecBankSA
I am seeing more and more conversation taking place about the the threat the gambling industry is to our communities. So I am posting my conversation with Trevor about this issue again.
Again, I urge you to listen to this, especially if you’re struggling with gambling. Trevor and I spoke about online sports betting. Some of you know I lost my brother to suicide because of his addiction to it. Without me knowing, Trevor stopped accepting betting companies as advertisers on his podcast. In this clip, he and Ryan (who’s off screen) make some very sharp points about how these companies operate and the sneaky, manipulative tricks they use to get people to spend all their money.
After my brother took his life, his therapist called me and said of all addictions, gambling is the most likely to lead to suicide.
It destroys families, lives and obliterates futures.
I would like heavier and more regulation when it comes to sports betting when it comes to advertising, accessibility and sponsorship. People are not saving money, not paying school fees etc, because of gambling. The government is simply not doing enough to curb this pandemic.
See the whole podcast on Spotify or YouTube, What Now? With Trevor Noah.
@collenmashawane Perhaps the entire system also needs an overhaul. You can have a criminal record from a suspended sentence, admission of guilt fine etc. People have records and have never served time and then after 10 years when you try and get an expungement your taken from pilar to post.
@Constitution_94 Spoken from a position of privilege when most cannot even see beyond the politics of the stomach. Even workers are struggling to get to their next salary let alone having enough money for transport to get to work.