FINANCIAL REVIEW: RESERVE BANK: DAMAGE WREAKED BY THE STATE CAPTURE EVEN WORSE THAN ESTIMATED.THE BEEE CURSE AND MORE.

 

 

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Article compiled and posted by: White Nation correspondent Cape Town 27 April  2019

 

 

 

SOUTH AFRICA– THE  PIRATE’s REALM DOWN SOUTH

THE  damage done by state capture is worse than previously understood, and its effects, coupled with load shedding, are bound to hit economic growth hard, according to the Reserve Bank Monetary Policy Review.
In a document outlining growth prospects for the country, the Pretoria-based institution painted a gloomy picture about the impact of these two factors bedevilling the South African economy, stating that growth remained “disappointingly weak”“It has become clearer, however, that the legacy of state capture, of which load-shedding is one symptom, will constrain growth for a longer period,” it said. “…[T]he damage done by state capture is worse than previously understood. Capital expenditure, especially by state-owned enterprises, has been less productive than anticipated.”Weakening Eskom

According to the Reserve Bank, the economy has less electricity than it had a decade ago, despite massive Eskom investments in new generating capacity. Faced with failing generating capacity, Eskom has in recent months re-introduced load shedding, which was implemented in stages ranging from stage 1 to stage 4. Officials at the state-owned power generator and Minister of Public Enterprises Pravin Gordhan have assured the country that plans are in place to minimise or eliminate load shedding over the winter. Gordhan said Eskom was working to ensure that unplanned outages or breakdowns are kept to less than 9500MW and that planned outages are within the range of 3000MW to 5000MW.

‘Long-term lows’

However, the Reserve Bank indicated that should interruptions continue throughout 2019, the power cuts would “likely to reduce growth by 1.1 percentage points”. Eskom has been facing coal supply challenges and battling to ensure maintenance of its aging coal-fired power stations. This, the bank said, was “proving expensive, requiring higher administered prices and taxes”. “These adverse conditions seem to be blocking a stronger rebound in growth….there is a risk that electricity shortages could cause even lower growth rates than currently projected,” it added. The central bank estimates that growth will likely reach 1.3% this year, before accelerating moderately to 1.8 in 2020 and 2.0% in 2021, in what the institution referred to as “long-term lows“.

Current account deficit

Another key factor in the country’s moribund economic growth is the large current account deficit, which was recorded at -3.6% of GDP in 2018. “A current account deficit of this magnitude, however, is still relatively large, both by global standards and historical South African averages.” The country’s current account deficit, as a share of GDP, will be the second largest among the G20 nations this year, after the UK, according to the bank. Investment rates have also been low, “barely approaching the emerging markets averages in the best investment years“. Private sector investment has, additionally, been muted.

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The discriminating communist onslaught on South African corporate sector-Rob Davis main culprit in killing the economy with  B-BEEE 

ACROSS the world Affirmative Action has been abolished – even in Namibia- because of it’s devastating effect it has on the economy and already scrapped as a failed system. South Africa is facing terrible times economically because of the mismanagement of the country and high crime figures within the ruling regime itself that brought about this predicament. Further contributors to South Africa’s financial destruction  is the high level of corruption by the ANC- and discriminatory laws such as AA and BEEE which serves no constructive purpose bar being a racist  invention to deliberately impoverish a targeted group within a society 

Affirmative Action is a system developed in the earlier years to protect a minority against the tsunami obliteration of a majority– but in South Africa economic discriminatory laws were imposed against white Afrikaners – which were just the opposite of this security protective system.It strangely was imposed to protect the majority against the minority! Yet in South Africa communist vindictive sycophants such as Rob Daviswho nurture a deep rooted hatred against the white Afrikaner grossly rape the law book to even take this form of discrimination and human rights abuses to the next level by introducing another  national discriminatory system called “Black Economic Empowerment”– a system whereby private companies are forced to incorporate black partners as shareholders- irrespective whether they contributed to the company or not.

Davis now fully abuse  his position as minister of Trade and Industry to advance his own dark agenda to impoverish and drive  especially white Afrikaners out of the labor market. He successfully achieved his planned agenda objectives by already pushing more than 400 000 white families  into squatter camps- and about the same amount white artisans to immigrate to seek jobs in other countries. This accumulates to one man’s war against a nation- backed up by the British corporate establishment’s – such as Renwick, Oppenheimers, Soros and Nathan Kirsh’s funding. AND if that is not enough- this British communist puppet-master  then even refined his own dastardly creation and fine-tuned it to create “Broad Based Black Economic Empowerment” – another “smart term” to hide his evil extermination agenda behind- and to  suffocate companies even more to give away shares for free to blacks or face draconian penalties. In the same instance Davis‘ Affirmative Action discriminatory system prevent all companies to employ whites. This onslaught by Davis and his communist cretins are aimed at removing the white Afrikaner totally from the labor market and into impoverishment in squatter camps. The objective is to disable the Afrikaner economically to such an extend  that they could not pose any financial danger in meddling with the corporate British plundering in South Africa.

Davis is the one single most destructive force behind the total economic destruction of the white Afrikaner in South Africa.It is because of Davis’ destructive methods that thousands upon thousands of highly-skilled artisans left South Africa and many still plan to immigrate. To save South Africa from this economic disaster Davis must be totally and immediately removed from his position of power and replaced with a minister that have the common sense to prioritize the benefit of the country first and foremost rather than use the position to impose selfish hidden agendas. What Davis do is not beneficial for the country or it’s people- but rather a personal vendetta from the British establishment’s fulfillment of their  Agenda 21.  South Africa have no “democracy”- but rather a deviously created fake system which hides human rights abusers with pre-meditated hidden agendas such as  Davis- who’s discriminatory laws are  created  with specific pre-planned genocidal objectives .

HARD-LINE COMMUNIST economic mass murderer of the white Afrikaner and the driving force behind the AA and BEEE discriminatory systems which he effectively uses to express his hatred for the Afrikaner – British spawnling Rob Davis– a most despised  creature who is sharing a place together with his crony Jeremy Cronin on the notorious roll of honor with other Afrikaner mass murderers the likes of his British predecessors  Kitchener and Rhodes in destroying the white Afrikaner financially.

This week the Broad-Based Black Economic Empowerment (B-BBEE) Commission (Davis’ brainchild) declared that the vast majority of transactions involving broad-based trusts are not “compliant ” with the discriminatory  law and do not constitute genuine and effective black ownership. It was further stated that the commission has informed dozens of companies of the need to rectify their ownership structures and undergo a re-verification of their B-BBEE status or face investigations for fronting. These are hard-hitting communist statements that will adversely impact most of corporate South Africa, says Sanjay Kassen, an executive in ENSafrica’s corporate commercial department. “Broad-based black ownership schemes typically entail the use of trusts that operate for the benefit of a defined grouping of black South Africans,” he said. “According to the 2017 Intelledex Research Report (The Empowerment Endowment), over R50 billion of value has been created for charitable recipients through broad-based B-BBEE structures, including community trusts. “As such, there is no question that broad-based ownership schemes have significantly contributed towards the upliftment of a large number of black South Africans who would not ordinarily have been recipients of such benefits.”

The B-BBEE Codes

In terms of the B-BBEE Codes, black South Africans may hold their rights (freely obtained) ownership in a company as direct participants or as participants through some form of entity, such as a trust or a broad-based ownership scheme, said Kassen. “Therefore, participants do not have to hold the rights of ownership directly, which will be held by the entity in question and measured at that level, provided that the trust complies with the relevant qualification criteria in the B-BBEE Codes. To effectively disregard broad-based trusts as an ownership vehicle and measure the achievement of rights of ownership at beneficiary level would be inconsistent with the legislation and would render the ability to hold rights of ownership through a trust (or any other entity for that matter) entirely irrelevant, he said. “It would appear that trusts still have a place in Black ownership structures, provided that they operate for the benefit of an identified ‘smaller’ group of black South Africans who are able to participate as shareholders of the company in which the trust holds shares (with the right to vote, the right to receive economic interest and the right to receive unencumbered ownership of the shares at a point in time).”

Rethink

Kassen said that that a rethink on broad-based black ownership is in order – at least the form in which they have been traditionally structured. There is clear directive from the government to eliminate broad-based schemes that financially benefit the black public at large without granting them rights of ownership as such schemes are not contributing to the ultimate objective of changing the B-BBEE ownership patterns of corporate South Africa, he said. “To simply state that the vast majority of broad-based B-BBEE trusts are not compliant with the law and constitute fronting is not something that corporate South Africa is going accept easily and such a change would also cause significant instability in a market that is already facing challenging economic conditions. “The threat of criminal sanction where there has been no intention to commit fronting will not, in our view, yield the results the Department of Trade and Industry and the B-BBEE Commission seek to achieve. “There needs to be a more collaborative approach between government and corporate South Africa so that there can be a clear direction going forward on broad-based black ownership,” he said. Kassen said that until a new and simplified direction is agreed upon in a collaborative manner, there will likely be some form of moratorium on existing broad-based structures and consideration must also be given to a dispensation for existing broad-based structures. “It may be appropriate for the new direction to be applicable to new broad-based structures established after a pre-announced future date. “These thoughts would be the most practical and sensible approach in order to ensure a smooth and stable transition to a new broad-based dispensation,” he said.

Shifting the blame of a failed government onto a flag.

 

In TYPICAL ANC blame-shifting fashion Cyril Ramaphosa accused those who pledge allegiance to the old South African FLAG and those who attack foreigners, fanning division the country . Ramaphosa made the remarks while leading the official Freedom Day commemoration in Makhanda, Eastern Cape, on Saturday. “Despite the progress we have made, we are, to be honest, still confronted by sinister attempts to undermine the unity of our nation through acts of racism, through attacks of foreign nationals and in the open display of the old South African FLAG.

SO now Ramaphosa is blaming a FLAG and the fact that through the ANC’s own idiotic racist policies such as Mbeki’s “African Renaissance” to open the borders for MILLIONS of illegal aliens to flood the country and take over the already fragile labor market from the hands of the local people . Now Ramaphosa and his ilk place the blame onto the flag, Afrikaners – and other homogeneous people of the country again for all the bugger-ups and mismanagement the ANC committed for 25 years in their hell-bent zest to corrupt and plunder the state coffers out of BILLIONS?.

SECONDLY- FACT CHECK:  Almost 500,000 South Africans have been murdered since 1994, according to findings from the 2017 South Africa Survey released by the IRR. In its 2017 South Africa Survey‚ the IRR noted that approximately 445,835 murders had been recorded in the country between April 1994 and March 2016. IRR crime analyst Kerwin Lebone said: “South Africans live with horrific levels of violent crime. While the murder rate has fallen since 1994, at 31.9 per 100 000 people, it remains one of the highest in the world.” According to Lebone, South Africa’s murder rate is:

almost 29 times higher than that in Australia, which is at 1.1 per 100 000 people.
almost 30 times higher than that in the United Kingdom, and 45 times higher than that in Germany, which are at 1.0 and 0.7 per 100 000 people respectively.
almost nine times higher than that in the United States of America, which is at 3.8 per 100 000 people.

Murder affects the most vulnerable people in South Africa’s society with the IRR Survey showing that 884 children were murdered in 2015/2016. Over the past decade almost 10,000 children have been murdered, the IRR said. Lebone added that South Africa’s murder crisis is so serious that some South Africans are more likely to be murdered than the residents of many terror-affected countries. SAPS data published in September last year showed that 18 673 murders were committed in the country, up from 17 805 in 2015. AND THE OLD FLAG HAD NOTHING TO DO WITH IT...but factually all this happened under the reign of the ANC  FLAG! 

 
  SO– Why don’t we then rather call for a ban of the ANC flag– because that flag brings back painful memories of loved ones that were brutally massacred by car bombs and limpet mines, loved ones massacred by means of necklacing, memories of loves ones assassinated for political ideals – loved ones that were murdered in ANC camps such as Quatro under that flag, violent riots and destruction of property across the country under that flag, implosion of our economy under that flag, discrimination and Affirmative Action policies under that flag- total destruction of all our state departments under that flag. Why don’t we ban the ANC flag because the current state capturing thieves still operates under it,impoverish more than 400 000 whites into squatter camps under it, murder our farmers under it- and alienate white Afrikaners under it? Why should only ONE flag be banned for alleged human rights abuses and not the other – because the current “conquerors” now write their own distorted “history?” OR do we conveniently “forget” about that flag and what it represents because it is so convenient to use “Apartheid” and the old flag to keep the communist Devil on the throne?
THIS is the Ramaphosa hippocracy: He advocates false “reconciliation”, blame the old flag and his own people for xenophobia and undermine the unity of our nation ” through acts of racism.” But LO….what do we see  here….SACP and ANC rats running around in the streets- slapping white baby dolls  fastened to poles? THIS Ramaphosa- is precisely that ” acts of racism” that divide the nation…and it’s instigated by YOUR party and your COMMUNIST SIDE-KICKS– not the  old flag …NEITHER from the populace! STOP speaking with a forked tongue and spread malicious propaganda  lies. You are a fake..and you know it! 
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SO are all of you in the SACP and ANC…..black racist pots blaming the white kettles for the race division you yourself created because you now again need a “common enemy” to pull your fading corrupt organization through the coming elections. And what a convenient scape goat whites again happen to be. You have become a disgrace to society with your  lies and your duplicity.
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How many immigrants and illegal residents reside or work in the country is an open question, because no census is being made about immigrants coming from Africa or elsewhere into the country and living in immigrant states around our cities / villages? They all insist on free RDP homes, services, schools and medical care. Many of these millions of  illegal immigrants are harnessed when protest actions are taking place in South Africa to burn, plunder and break down. Distinguish what the truth is in South Africa, because lies are being preached to exterminate the  Afrikaners, Boers and Whites. Every nation has an international right to their own territories and has the right to be governed by their own leaders.

“There are great divisions between rich and poor between urban and rural, between men and women, between those who have jobs and those who are unemployed. There are still divisions between those who own land and those who have been deprived of it.”– Ramaphosa rambled on- conveniently failing to mention that he and his ANC  fat cat  “elite” are exactly those “rich” few who have it all while more than 47 % of the population live in squalid conditions- a real word spinner he is. Ramaphosa also mentioned that South Africa is still ” unequal”– but again fail to mention that the ANC is solely responsible for that “inequalities” , corruption and race division now posing the biggest threat to the economy.

 

 

 

In a long interview given to Afrikaans weekly Rapport published on Sunday, former president Thabo Mbeki made it clear that he doesn’t buy the idea that white people in South Africa should be thought of as “land thieves”. He said the ANC had been “rushed” in deciding to change the constitution on the matter of land expropriation when it voted on the matter at Nasrec in December 2017. He said it was clear to him that the ANC still had no clear plan for the economy or how to deal with the so-called land question. Mbeki also criticized the current interpretation of the Freedom Charter that he claimed was being misused to push a more radical agenda. He said the charter had always been clear that the land should be shared among those who worked it.

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SOUTH AFRICA today

“It does not say black, white, settler, no settler,” he was quoted saying in a translation by City Press. “So has the ANC now departed from this position?” He called the Nasrec resolution a populist policy position that needed to examined more rationally. “The thesis that there were settlers who came to South Africa [who] took our land without compensation, and therefore we must take that land back and give it to other people, what does that mean?” He said the ANC could not on the one hand say South Africa belonged to all who lived in it, black and white, as the Freedom Charter had declared, only to then make an exclusion when it came to land. “You can’t. It’s not right.”

 

 

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What this week’s major BEE announcement means for South African businesses

 

 

 

 

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