SOUTH AFRICA: THE ANC CURSE OF THE “COMRADES” CONTINUE- SAA TOO BANKRUPT…SO STANDARD BANK PULLS THE PLUG!

 

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Article posted  by: White Nation  correspondent Potchefstroom June 20  2017

 

 

SOUTH AFRICA– FAILED LAND OF COMMUNIST ANC ORGANIZED CRIME ,LIBFARTS, UNION CHAOS , MISDIRECTED RAINBOW MONKEYS – AND WHITE GENOCIDE

 

THE ANC hegemony of the incompetent cadres just cannot surpass that invisible barrier which the”curse of the comrades” has  enforced upon them. For years we now observe how these poor imbeciles are trying their utmost to act like their Western business counterparts  – but alas...being an “out-of-the-bush “  gaggle of ANC marionetts -they proceed to venture into strange and unbeknownst white man’s environments that keep them permanently “out-of-their-depth.” Add to that their natural greedy culture and addictive lust for corruption- and you get what South Africa had to endure this past 20 odd years- TOTAL CHAOS!

For instance: The SAA is so deep in the financial dwang that Standard Chartered Bank has now  declined to renew their loan facilities.According to a repayment schedule, SAA has listed R8,887 billion repayable in 2017/18, yet some of the maturity dates have in fact past.

Key dates that have already past include:

  • R0.3 billion due to STANDARD BANK on 30 December 2016;
  • R1 billion to STANDARD BANK on 30 December 2016;
  • R1 billion owed to STANDARD CHARTERED on 27 January 2017;
  • R1 billion owed to ABSA  on 8 December 2016;
  • R1 billion owed to STANDARD CHARTERED on 22 December 2016;
  • R2.25 billion owed to  VARIOUS PHOENIX on 28 April 2017; and
  • R0.8 billion owed to VARIOUS GBF on 28 April 2017.

Opposition party the DA says no matter how bad this may seem, this could only be the tip of the iceberg and things could be even worse. The DA’s Shadow Deputy Minister of Finance, Alf Lees, has now written to Finance Minister, Malusi Gigaba, to request that he urgently answer two vital questions:

  • Whether or not the other loans already overdue have been repaid and/or rolled over- and
  • How close is SAA to default resulting in lenders calling in government guarantees?

All of SAA’s loans are backed by government guarantees (tax payer’s money) that in total now amount to R 19,1 billion.

If SAA has failed to repay some of these loans, it could force other creditors to recall their loans as well,-  which would then necessitate the government (tax payer) to step in for the umpteen time and pay. This money would ultimately be taken from the public purse and could have dire consequences for the sovereign rating status of South Africa, which is already at junk statusThe fact is that the only way out of this mess is for SAA to apply for business rescue where robust cost reductions can be implemented.

The DA says a successful business rescue and the prevention of the government guarantees being called in would be have to lead to a full, or at very least a majority privatization, of SAA in order to for SAA to survive in the long-term and importantly to release the South African taxpayer from ever having to meet the R 19,1 billion government guarantees. Meanwhile- Me. Incompetent herself-  Dudu Myeni has been away for the past few weeks just like last month’s pay. She does not answer her phone, does not respond to messages, does not read emails. No one can find her. And why? Because, before the end of this month, she has to repay a loan of R2,3 billion to Standard Chartered Bank, the British division of Standard Bank. The bank said they can no longer delay repayment, SAA must start paying now. Economists expect many other creditors will start looking for their money during this week.

And now Dudu – in typical African style– crawls away. Since April, she has missed eight Council meetings, convened to discuss the money issue. The problem is that the state has been responsible for the loans and will probably have to pay with more taxpayers money. That is why Zuma and Gigaba are planning to plunder the State Pension Fund (GEPF) for the money. Because where will the state get the money, South Africa is in debt up to the nostrils? The amount of the country’s debt by this morning takes one’s breath away. It’s an amount that Jacob Zuma in all eternity will not be able to pronounce, in fact, it is questionable whether anybody can express it!

BUT LO- while these incompetent cleptocrats are plundering the coffers- the ever unsatisfied ” previous disadvantaged” black masses are burning the country to cinders – and keep on voting these useless oafs back into power. Once in power- the Lethuli House “Brother” and “sisterhood” of Africa gets all the nice top seats- and as culture dictates…start to waste money, mismanage state parastatals- and earn themselves humongous salaries and “bonuses.

Once they ran into deep-deep financial trouble- they do precisely like Myeni is doing right now: First vacate your office…then call Zuma to send in the financial ( mostly white tax payer funded) cavalry- then pull a fast “disappearing” act while your cellphone’s voicemail handle all the calls. You just have to lie low for a while until the storm has blown over and the cavalry arrived. When the cavalry arrives and save the day- you “miraculously” appear from no-where out of your fox hole you’ve been hiding in- with LOTS of bullsh*t excuses- just to resume your duties of plundering and maladministration again. If too may wolves are on your black arse and demand your head- again uncle Zuma will save you by removing you from your current position to another top position where you again can proceed plundering the state coffers. THAT is the black ANC communist curse burdening South Africa’s shoulders. And saved will Me. Dudu be…taking in consideration her close -eh..“friendship” with comrade Zuma…

 

Image result for dudu myeni and zuma

 

SOURCED:

STD BANK PULLS THE PLUG ON SAA

ZUMA CONFIDANTE SAA CHIEF DUDU MYENI SKULKING BEHIND OBSCURITY

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