19.2.2020 04:26 pm
The GEPF’s principal executive officer says: ‘It is a fact we have not been approached … we cannot say anything else besides [that] we have not been approached.’
It would be "untoward" of the Government Employees Pension Fund to dismiss a proposal to bail out debt-laden power utility Eskom without knowing all the facts, MPs heard on Wednesday.
Saftu and Amcu have started the Cry of the Xcluded campaign to counter austerity, which they say would exacerbate job cuts, among others.
It was reported that the company’s assets were overstated with more than R11 billion by inflating revenue from sugar and land sales and by including land sales before it was finalised.
Job cuts are a result of the years of graft under Jacob Zuma, one analyst says, while another says SA needs a radical overhaul of its governance and policy framework.
The PIC manages in excess of R2 trillion on behalf of clients that including the Government Employees Pension Fund, Unemployment Insurance Fund, Compensation Commissioners’ Fund and several others.
An estimated 200 small-scale sugarcane growers who rely on the milling firm for their livelihoods will be affected by the closure, and nearly 400 workers will lose their jobs.
The union says it has started a legal process, but has not yet filed any court documents.
Around 500 workers received Section 189 letters on January 31 proposing termination of their employment.
It is predicted that unemployment is likely to hover around 41% to 43% by the middle of the year under the current economic climate.
The next most popular consumer credit products among those born in or after 1995 are non-bank personal loans, at 8%, the study found.
Consumers and e-commerce face chaos after the Sapo moves to enforce decades-old legislation which would give it a monopoly over small-parcel deliveries.
‘We now have to deal with some key structural issues, like public debt, fiscal consolidation and energy supply,’ said Aspen Pharmacare senior executive Stavros Nicolaou.
‘A reduction in the number of employees will unfortunately be necessary’ for a viable and sustainable future for the airline.’
The law is clear: you are still liable for your mortgage after your land has been expropriated. For the banks it is ‘business as usual’ until there is further clarity.