FINANCIAL REVIEW: RAMAPHOSA’s SABOTAGE, ALEC IRWIN’s RUSTED BOLTS- AND ESKOM’s IMPLODING DISASTERS

 

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Article posted by: White Nation editorial     December 14 2019

 

SOUTH AFRICA– THE  PIRATE’s REALM DOWN SOUTH

 

 

In the Bullsh*t department – and I mean BIG time major league bullsh*t – you stand in awe to the all time champion  of false promises and exaggerated claims to whom  not even a second-hand car salesman can hold a candle ……. a government  politicianAndrew K. 

 

he Squirrel’s  bogus claim that Eskom has been sabotaged is as rusted as the bolt the old ANC snowflake  Alec Erwin left in one of the turbines at the Koeberg power station back in 2006. Ramasquirrel  proofed again that he is a igcognitious bumblehead who’s primary  priorities lies only by covering up his own corrupt organization’s incompetence to run an economy. 

Wet coal, broken conveyor belts, sabotage and bolts in the turbines are the lies of a failed business and a distraction from the real question: what is the socioeconomic impact on the 30-million-plus South Africans living in poverty if we lose an estimated R5bn a day every time the lights go off? SA’s GDP growth rate for 2019 has already been downgraded by most agencies and banks and is now projected at between 0.6% and 0.8% per annum, a far cry from the stimulus required for a job- and wealth-creating economy “for all”. What this all means is higher consumer prices, increased job losses and fewer jobs available in the market, even lower levels of savings and investment, lower tax revenue, lower to almost zero levels of economic growth over the next decade and significant increases in our social grant budgets.And then to add to the chaos the ANC already created for the country does they still want to destroy the food production by forcing white farmers off their productive land with another devious scam they dubbed “land expropriation” too? 

The unprecedented stage 6 load-shedding seen this week was not sabotage, but rather the climactic and accumulated effect of systemic incompetence, political ineptitude and corruption. Eskom is broken beyond repair and Andre de Ruyter, its new CEO, will be unable to fix it. Diminishing economic growth as a result of the structural, operational and financial fault lines that run deep across the many dimensions of this failed business will simply be too much to turn around. Eskom’s proposed “unbundling “ into three separate state-owned entities, namely generation, transmission and distribution, will not turn the tide for this failed company.- but only is yet another scam to keep Eskom within the grasp of the ANC “high-rollersRamaphosa, Motsepe and Radebe clans.  Ramasquirrel quickly rushed into signing the Independent Power Producers agreements for the benefit of the Squirrel’s  business associates and his brother-in-law Patrice Motsepe “Unbundling “ such a massive failure Eskom will create strategic and operational challenges that allow leadership to escape accountability. It also will conveniently fit into the agenda of Ramasquirrel and his ilk as they then can procure stakes in a near-bankrupt Eskom at garage sale “specials.”

The Squirrel’s  billionaire brother-in-law seems well placed to benefit from his proximity to power, in both senses of the word. The Squirrel’s 2018 visit to Saudi Arabia and the United Arab Emirates has drawn criticism following the announcement of a more than R130 billion investment into the energy sector in South Africa from Saudi Arabia, the world’s wealthiest oil-producing country. Among the questions now being asked are why Ramaphosa’s brother-in-law, Patrice Motsepe, and Motsepe’s business delegation were spotted in photographs as part of the Squirrel’s  entourage.Ramaphosa is married to Motsepe’s sister Dr Tshepo Motsepe.

12 July 2018 – Ramaphosa together with Jeff Radebe and Patrice Motsepe goes to Saudi Arabia and the Saudis invest $10 billion at Eskom.

24 July 2018 – Eskom signs a R33 billion loan with China Development Bank.

4 November 2018 – Eskom shuts down two power plants claiming diesel shortages.

12 November 2018 – Eskom issue out a statement that load shedding will be back because they are running out of coal.

15 Nov 2018 – Minister of Energy Jeff Radebe leads the interviews for the National Director of Public Prosecutions (NDPP) position.

29 November 2018 – Eskom needs a R5 billion bailout.

30 November 2018 – Eskom issues out a tender advert for the supply of diesel and it closes on 3 December 2018. It was advertised on Friday and it closed on Monday.

Now wait for it:

01 December 2018 – Patrice Motsepe who went to Saudi Arabia with Ramaphosa donates R3.5 billion for now the land reform that was land expropriation without compensation.

04 December 2018 – Cyril Ramaphosa announces new NDPP Shamila Batohi.

05 December 2018 – Middelburg Chamber of Commerce CEO Anna-Marth Ott says there’s no shortage of coal at Eskom. Eskom is not collecting coal for reasons unknown.

What is happening here??

~There is no shortage of coal at Eskom. This load shedding crisis is deliberately created to loot the money invested by foreign governments. Look at the diesel tender advertised by Eskom over to the weekend and closed on a Monday. Again they are making way for IPPs while looting and bankrupting Eskom in order to later privatize and buy it at a fraction of its worth.

~Is the R3.5 billion donation from deputy Mandela money channeled through his benefiting from IPPs a scheme to compensate white land owners, should we expect more of these donations from deputy Mandela, is deputy Mandela’s involvement in IPPs a strategy to channel money for their land reform?

~Why did Jeff Radebe, the minister of Energy lead and conduct interviews for the appointment of the head of National Director of Public Prosecutions? Why were the interviews not chaired by the minister of Justice? Will these people currently looting through load shedding at Eskom and the real state capturers be ever prosecuted if the NDPP is head hunted by the Sbari United Front (SUF)?

~The money invested and loaned from foreign governments is not meant for Eskom but is meant to enrich few elite individuals like the SUF and the foreign companies from the foreign governments that invested the money.

The inclusion of Motsepe is also seen to be a possible conflict of interest since Motsepe is not the only big player in the renewable energy sector, and may be unfairly favored through his sudden renewed proximity to power (in both senses of the word). Ramaphosa told journalists earlier this month that he intends to market South Africa in much the same way he once wooed investment for his big companies when he was focused on business. He said he would build an “investment book” for the country to market to foreign investors. Ramaphosa’s companies, which have been run in a blind trust since the president involved himself in politics again from 2014 on, were valued at about the equivalent of R6 billion in 2015. Saudi Arabia’s state-owned oil firm, Saudi Aramco, is considered the world’s most valuable company, estimated at between $14 trillion and $21 trillion; it’s also thought to be the world’s most profitable company.

 

Nugent Commission suppressed affidavit that potentially compromised Ramaphosa.

Cyril Ramaphosa played a key role in a secret political intervention that allowed senior staff members at the South African Revenue Service (SARS) involved with the infamous “rogue unit” to resign with millions in confidential settlements – and avoid exposure in disciplinary hearings. Ivan Pillay, deputy commissioner and head of enforcement at SARS, walked away with around R4 MILLION and a fat pension for life. Head of strategic planning and risk, Peter Richer, got R3.77 Million. Ramaphosa’s role in the settlements is revealed by Luther Malesela Lebelo who, in 2015, when the alleged intervention took place was de facto No 2 to SARS’s then-commissioner Tom Moyane. The details of Ramaphosa’s involvement, unreported until now, are buried in a 135-page supplementary affidavit filed by Lebelo last year with retired Judge Robert Nugent’s Commission of Inquiry into tax administration and governance by the SA Revenue Service.  This is the true  factors  of the  real sabotage- a Ramasquirrel sabotage indeed! . 

Now we can stand outside the proverbial “box” and start to tie the knots together:

  1. Ramasdquirrel paid R 2 mil bribes to keep Nkosazana Zuma out of the race and force his way into the presidency –
  2. The Squirrel and his family are behind the so-called ” Land expropriation” theft bill to lay their hands on some of the white farms situated on the Northern coal rich belt. This the reason why the Squirrel is pushing to get the bill steamrollered through parliament. 
  3. The Squirrel want to “unbundle” Eskom so the “family” could pock-up  huge shares in the now near bankrupt company- thus the reason why Eskom suddenly experience terrible “maintenance” and “technical ” problems. It is specifically engineered to collapse and fall into the lap of the waiting clansters. 
  4. The Squirrel and his ilk then will not only have dominant control  over the coal supplies- but also over the energy supplier as well!  There is your connection between the ANC “top” dogs and the sudden zest to disown white farmers. 

As you can see the picture developing it has nothing to do with the “hungry people” Ramasquirrel so frequently are referring to – but more about the GREEDY people he is NOT mentioning! 

The current vision under a “single” Eskom reads: “To provide electricity in an efficient and sustainable manner, including generation, transmission and distribution and retail’‘. It cannot do this now and it will not be able to do this across three separate operations. “Unbundling “ is the last nail in the corporate coffin of this entity and De Ruyter will be its undertaker and the fall guy. By the winter of 2025, with De Ruyter firmly at the helm, technical mumbo-jumbo and race politics (De Ruyter is white) will be the absurdity of our national dialogue in keeping the state constitutionally culpable for single-handedly increasing the burden of poverty on the most vulnerable, through its continued support of Eskom. Eskom’s debt stands at R450bn. Its 2019 revenue was R179.8bn, with a recorded loss of R20.7bn. The company will seek a further R340bn in loans by 2022, raising its stake in the GDP to 8%. R218bn of the debt is covered by guarantees by the government, compliments of the taxpayer.

 

The government has committed an additional R59bn in a bailout package so that Eskom could cover its debt over the next three years. This is in addition to the R122bn Eskom will cost taxpayers over the next three years. Failures at Medupi and Kusile at a cost of R300bn, (with an estimated R36bn in overruns) with poor construction, will severely compromise our generating capacity by 2025. In three years a civil war is predicted by many experts- this the reason why the ANC will not extend their guarantees longer than three years- and three years is all they have to plunder as much as they can before the proverbial sh*t hits the fan! We will see sustained blackouts now leading up to 2020 with a near collapse of the system by 2023 as it would be too expensive to fix the infrastructure mess at Medupi, never mind the maintenance of the full national grid. This, together with the theft of approximately R129bn in these two projects and the stalling of power purchase agreements over the past 10 years, will be central flash-points in the demise of Eskom and the gain of the “clan.” 

Our economy will be sent into a nosedive by 2024 as Eskom haemorrhages onto our national balance sheet, bringing it further and further into the red. There is no proposed financial plan on the table for Eskom to generate its own revenue other than its dependence on the taxpayer and cosmetic Ramasquirrel orchestrated “unbundling.”  Its balance sheet is an affront to our constitutional democracy. It is not developmental, and it is unsustainable. Eskom needs to generate electricity for a growing economy at about 6% by 2030 as per the National Development Plan. This is a fiction as we continue to hover at 0.8% while we wrestle with:

1. still servicing the cost of the arms deal at R70bn;

2. the estimated loss of R500bn through state capture on the president’s estimation;

3. the R27.4bn revenue shortfall in 2019 due to sluggish economic growth;

4. increased bailouts for SAA amounting to R5bn in October with an additional ask of R3.5bn in December, bringing the total over 10 years to just under R40bn;

5. our youth unemployment rate of just above 50% – with jobless economic growth as the norm, this figure will increase over the next decade and provide fertile ground for a change in government by 2030-2033.

 

We remain the most unequal society in the world,- meaning there now is a huge gap between the ultra rich black Czars and the impoverished populace.  Dumping Eskom once and for all is now a social justice imperative. We must build an entirely new energy architecture that will result in job creation and economic development for decades to come. Bolder plans are now required and must include the following on the cabinet’s priority list:

– Phasing out coal and diesel as primary sources by 2030;

– increasing renewable energy to a 70% contributor to the grid by 2028;

– repatriating Eskom revenue to independent power producers, with provincial electricity authorities regulating the pricing structures by 2027;

– communities retaining 49% equity ownership in the IPPs with specific emphasis on women ownership;

– profits on the sale of electricity capped at 14% of the unit cost;

– subsidising all households to generate a percentage of their own electricity and buy back additional electricity available to the national grid;

– identifying failed agricultural farms in provinces with high wind and sun exposure and turning them into electricity co-ops to service local communities;

– renting out all other SOEs and asking for a 35% annual return with zero tax revenue input into the SOE sector by 2030.

The political mantra that Eskom is too big to fail is rubbish.

The political call should be; “Eskom is too big a mistake to save.” Ramaphosa is a too dangerous man to be sustained. Ramaphosa is abusing the power of his office to push ahead  his own greedy agendas.  Sadly, Eskom’s failures mean that we will be unable to turn the tide on the multidimensional layers of poverty that characterize the existence of most  South Africans and stem  the super  enrichment agenda of a few black Czars that have no connection with the reality of the people. SO– next time you have to face “load shedding” again- you must know it is a deliberate engineered agenda to empower the supper rich again at the cost of your misery and losses. The so-called “debundling” of Eskom and the “land expropriation” agendas must run concurrently and be finalized in about the same time window in order for the money grubbers to grab both opportunities within the same time span.

I recently had an interesting conversation with a young black man. He said he knows that the ANC government, from Cyril Ramaphosa downwards, are corrupt and self serving. He wanted to know what are my suggestions on how to get a proper, fair and efficient government in place. The only solution I could think of was to force an objective forensic investigation into a SOE like ESCOM. The trail of corruption would lead right up to Cyril Rampahosa and his fellows. Said people must be criminally prosecuted (High Treason being the most proper charge), convicted (if guilty) and harshly sentenced. Their assets should be forfeited, sold by public auction and used to help repair the damage they have caused. From there the next SOE must be investigated and dealt with as per above. The effect on the ruling government would be dramatic and positive. It would lower tax dramatically, increase service delivery efficiency to unheard levels, boost the economy and ensure a better life for all. Politicians should be held accountable for false election promises (that should be criminalised) and corruption and fraud should be harshly dealt with as per above. That will force politicians, managers and other civil servants to become honest and efficient without needing other changes.“- Louis De La Porte

 

 

 

RESIST  LAND EXPROPRIATION AND THROW RAMAPHOSA AND HIS GREEDY ILK A STICKY TOFFEE TO CHEW ON!

 

SOURCES:

 

https://citizen.co.za/news/south-africa/1979219/ramaphosa-and-patrice-motsepe-keep-it-in-the-family-in-the-middle-east/

 

 

 

 

 

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