Cape Town —
Govt Weighing Taking Over Eskom's R392 Billion Debt - IMF
The International Monetary Fund has said that the South African government is considering taking over part or all of Eskom's R392 billion (U.S.$25 billion) debt as it seeks to restructure the cash-strapped power utility's loan obligations.
While shifting Eskom's debt onto the state's balance sheet would make the utility financially viable and smooth its planned split into transmission, generation and distribution businesses, the IMF says it would precipitate a marked deterioration in the country's already stretched finances.
EFF's Malema Attacks Ramaphosa Over SONA Speech
President Cyril Ramaphosa's speech came under fire in parliament on Monday during the debate on the State of the Nation Address. EFF leader Julius Malema said the president was way off the mark when he said government does not create jobs, but the private sector is doing it. Malema accused the president of a pro-business speech. Malema added that poverty and joblessness is getting worse under the current administration, with more than 1.7 million people who were previously employed losing jobs and the majority if not all these jobs were in the private sector - which he said, we are told can create jobs.
Transnet Suspends Blue Train over Safety Concerns
Transnet has confirmed its decision to suspend the luxury Blue Train railway service from February 14, 2022 until further notice.
"Due to safety considerations the business has taken the decision to suspend the Blue Train operations to conduct a full analysis following the recent unfortunate incidents that have befallen [it]," Transnet said.
One person was arrested after a fire broke out in a coach while the train was in for repairs last week. The fire happened at the Transnet engineering facility in Koedoespoort, Pretoria.
Tom Cruise In South Africa - Yes All Things Are Possible!
A-List actor Tom Cruise has been spotted at Oribi Gorge on the south coast of KwaZulu-Natal in his own helicopter, and in Hoedspruit in Limpopo province, reportedly filming for the next Mission: Impossible film. Seven films have already been released, churning out U.S.$3.578 billion (R53.98 billion) at the worldwide box office on a budget of U.S.$823 million. Location shoots for the previous movies have taken place in destinations like Paris, London, New Zealand, Norway, and the UAE. This time around, the budget has brought them to the sunny shores of South Africa.
