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Denel cold shoulder as SAA, Eskom grab bailouts – SOE in ‘spiral of terminal decline’ - Biznews 17 March 2021 - Denel, the state-owned defence company, is in a spiral of terminal decline. It would seem that Denel, South Africa’s state-owned aerospace and military tech company, is heading the same way as other SOEs. ‘In the financial year ending in 2020 its losses were R1.9bn, mainly due to rising operating costs, which is often a sign of high management overheads’, writes Jonathan Katzenellenbogen. He adds that the last time the company made a profit was in 2016/17, ‘R282m, whic...

By Jonathan Katzenellenbogen* This afternoon, Finance Minister Tito Mboweni will deliver a Budget that has taken on greater-than-usual significance. For the past few years, Mboweni has been calling for tough measures to be taken, but has failed to take these, owing to lack of wider political support within the African National Congress (ANC). A government budget deficit of between 13 and 15 percent of GDP for the current fiscal year, projected by a number of economists, will be the largest in the country’s history. Total government debt is now about 80 percent of GDP. The Treasury plan is f...

24 February 2021 - This afternoon, Finance Minister Tito Mboweni will deliver a Budget that has taken on greater-than-usual significance. For the past few years, Mboweni has been calling for tough measures to be taken, but has failed to take these, owing to lack of wider political support within the African National Congress (ANC).

'The mere threat of expropriation is enough to deter most direct investment and stall any prospect of economic recovery', says Jeffery.

Land expropriation without compensation (EWC) will have severe consequences for the SA economy. In a recent interview with BizNews editor at large Jackie Cameron, independent financial advisor Dawn Ridler shared her thoughts on the economic impact (listen to the interview below). ‘Land or property ownership is very valued in capitalist societies. From an economic perspective, if we take acquisition without compensation – which is in violation of property rights norms in the West – that could impact on our direct investment and impact on economies’. South Africa is in dire need of fore...