EDITOR’S LUNCHBOX: More muted panic after Michael Sachs quits Treasury
Stories of note
Bytes from the digital world
The Treasury deputy director-general who headed the budget office, Michael Sachs, has resigned over President Jacob Zuma’s vote-grabbing plan to declare university education free, even though the country cannot afford the required R40bn.
Cabinet ministers and their deputies will get a 4% pay increase while MPs, MPLs and traditional leaders will get a 4.5% increase. The matter of SA’s R50.8bn tax revenue shortfall was not raised in consultations by Finance Minister Malusi Gigaba.
In my opinion
Matters of debate
What happens if you take banality, infuse it with facile self-righteousness, add a good dose of obsequiousness and set the result to the soundtrack of a finger nail being slowly scraped across a chalk board? We now have the answer: An ANN7 interview with Nkosazana Dlamini-Zuma.
Spare a thought for Malusi Gigaba. He has become finance minister at the worst time to have the job since the 1985 debt default, which marked the apartheid government’s financial collapse, writes Stuart Theobald.
Transnet claimed it was absolved of corruption charges by German software group SAP’s investigation into its South African unit paying "commissions" to Gupta-owned middlemen. "This is nonsense. Logically, SAP would surely never have paid the bribe if it would have got the contract without having to pay a sixth of the contract value to outsiders," writes Tim Cohen.
The long and the short of the markets
Vodacom’s active customer base rose 11.8%, or 4.3-million, to 71-million across the group. SA accounted for 2.9-million of the total, while the balance came from its international operations.
Sugar contributed R835m to Tongaat Hulett’s operating profit, little changed from R825m a year earlier. Land sales, on the other hand, realised an operating profit of R441m — up significantly from R269m a year earlier.
Why would Kim Jong-un insult me by calling me "old," when I would NEVER call him "short and fat?" Oh well, I try so hard to be his friend - and maybe someday that will happen!— Donald J. Trump (@realDonaldTrump) November 12, 2017