IDC tables a R3bn offer for 80% of loss-making ArcelorMittal SA.
Start asking the real question: can South Africa afford to buy a steel manufacturer?
AMSA has booked R5bn+ in losses over two years. The IDC already pumped in lifelines — R1bn, then R1.68bn — and more cash is being sought to delay job cuts.
Steel matters for autos, mining and construction. Walking away would cost jobs. Buying it without cheaper power, working rail and a real import strategy just nationalises the losses.
Preserve capacity if you must. Don’t pretend this money is free. Taxpayers already own the risk.
@GovernmentZA and @IDCSouthAfrica, stop wasting our money.
Billions of rand generated through informal businesses, including spaza shops, may be moving out of South Africa through unregistered financial channels, according to a new report examining migrant communities and the informal economy in Tshwane.
Read on https://t.co/jEATVRarKr
#SpazaShops #FinancialCrime #MoneyLaundering #news #IOL
Stop blaming apartheid and white people for ANC failures.
There has been no apartheid government for 30+ years.
ANC cadres have been stealing money from state coffers.
ANC cadres use the BEE policy to enrich themselves.
Stop living in denial and face the truth head on.
ANC is the cause of black people’s poverty.