Tag Archives: SAA

Mini Budget Speech, Massive Doom & Gloom

Mike Hampton Posted on by

Minister Finance Tito Mboweni is to be credited for delivering overdue honesty regarding the state of South Africa’s economy. He did so during the medium term budget speech, what some call the mini-budget. It’s also good news that the National Prosecuting Authority’s budget is going to radically increase. But positivity dies there, overwhelmed by a storm we have little chance of clearing. BUDGET INTENTIONS The intended unbundling of Eskom, and SAA  partnership with private companies, will be stopped by unions. The R59-billion Eskom bailout Eskom just received is harsh fact … Read the full article…

The truth may be bitter but sharing it is sweet!

The Rand Crisis

Mike Hampton Posted on by

I’m not an economist. The goal here is to make average people (like me) understand how dangerous our country’s financial situation is. Yesterday was the record breaking drop in South Africa’s currency. $1 cost almost R18. Currently, it’s R16.55 to the dollar. It’s not as simple as this but as a practical figurative (and for lovers of oxymorons), imagine saving up for a fridge for 1 year. When you start, it’s going to cost you R3000 but by the time you’ve saved that money, 12 months later, they tell you … Read the full article…

The truth may be bitter but sharing it is sweet!

Gordhan Makes SAA Airbus Swap Deal Go Nene’s Way

Mike Hampton Posted on by

South African Airways (SAA) chairperson Dudu Myeni has officially lost her battle to reconfigure the airline’s Airbus swap deal, which could have threatened the financial stability of SAA. SAA informed the Treasury that the board approved the execution of the transaction as directed and a process is underway to conclude it within the next few days, Treasury said in a statement late on Monday. Sticking to former minister Nhlanhla Nene’s approved plan from July this year, the transaction will see SAA swap the purchase of ten A320 aircraft for a … Read the full article…

The truth may be bitter but sharing it is sweet!