
ANC Statement on the Passing of Sinn Fein Leader Martin McGuiness (23.03.2017)



Certainly, there have been blowing a wind of dismay towards the International Criminal Court; the reasons are not subtle, but understandable by the men and woman fearing for their future. The ICC has for some reasons been finding lots of criminal activity and leaders misusing their powers to create crimes against humanity on the African continent. While the same ICC has not used their powers and laws on certain other questionable wars and legality behind the support of internal wars elsewhere. Therefore, the totalitarian and the lingering presidents that fear their respect and legacy, as they could be taken to court for their acts while being Presidents!
Well, here is a key piece of knowledge from the briefing written by the International Commission of Jurist (ICJ) that was dropped this March, in the same amount of days that the Republic of South Africa has released their Withdrawal of the Withdrawal from the ICC and the Rome Statute. Therefore, the ICC can be rest assured that the South African republic will not leave now.
ICJ Reasoning for problems with ICC:
“While there are no doubt many serious situations that have so far escaped the Prosecutor’s purview, it is important to note that because the ICC functions within the jurisdictional limits of the Rome Statute, it cannot assume jurisdiction and commence investigations in respect of States that are not parties to the Rome Statute or nationals of such States. As noted above, in such situations, it is up to the Security Council, to decide whether to refer a situation to the Prosecutor, who will then decide whether to prosecute. The powers of the Security Council, including those concerning the use of the veto when referring situations to the ICC for investigation, also require reconsideration and reform. Efforts toward reconsideration and reform could be led by South Africa and other African States” (…) “The ICJ notes that most African States that are parties to the Rome Statute appear to remain committed to the Court. It is significant that the newly installed President of Gambia has decided to withdraw the notice of withdrawal that was issued by his predecessor” (ICJ, P: 8-9, 2017).
Recommendation of the ICJ:
“Honourable Parliamentarians should ensure that:
Still it is good to see the ICJ support the Republic of South Africa will to stay within the Rome Statute and the ICC. Even as they did have questions towards the African leaders and States, as the ICC has not acted towards the United States or United Kingdom for their ill-will wars in Iraq and Afghanistan.
So the good news is that the Republic of South Africa still is a member of the ICC, but there is a will to leave there. That will not dwindle away, as the staunch controversy towards the ICC does not go away with a briefing like this or the ways the image of ICC is seen on the continent. That does not leave with the Gambian and South Africa now returning, or not leaving at all. This shows the problems that the leadership has with the court and their legal battles on the continent. That will not be diffused, even as this is good news for those who want to believe in International justice.
Still, there are enough issues that the ICC has to work-on and show less bias in the pursuit of criminal offenders to give the people on the continent faith in their judgement. Peace.

Reference:
International Commission Jurist (ICJ) – ‘South Africa should not withdraw from the International Criminal Court’ (March 2017)


Today, the Competition Commission has filed with the Competition Tribunal, a settlement agreement reached with Citibank N.A. for being part of the forex trading cartel.
The Commission found that from at least 2007, Citibank N.A. and its competitors had a general agreement to collude on prices for bids, offers and bid-offer spreads for the spot trades in relation to currency trading involving US Dollar/Rand currency pair. Further, the Commission found that Citibank N.A. and its competitors manipulated the price of bids and offers through agreements to refrain from trading and creating fictitious bids and offers at particular times.
Citibank N.A. will pay an administrative penalty of R69 500 860 (Sixty Nine Million Five Hundred Thousand Eight Hundred and Sixty Rands). This figure does not exceed 10% of Citibank N.A.’s annual turnover in the Republic of South Africa. Citibank N.A. undertook to cooperate with the Commission and avail witnesses to assist the prosecution of the other banks that colluded in this matter.
On 15 February 2017, the Competition Commission referred a collusion case to the Competition Tribunal for prosecution against Bank of America Merrill Lynch International Limited, BNP Paribas, JP Morgan Chase & Co, JP Morgan Chase Bank N.A, Investec Ltd, Standard New York Securities Inc., HSBC Bank Plc, Standard Chartered Bank, Credit Suisse Group; Standard Bank of South Africa Ltd, Commerzbank AG; Australia and New Zealand Banking Group Limited, Nomura International Plc., Macquarie Bank Limited, Citibank N.A., ABSA Bank Limited (ABSA), Barclays Capital Inc, Barclays Bank plc (Respondents).
“This settlement was done to encourage speedy settlement and full disclosure to strengthen the evidence for prosecution of the other banks,” said the Commissioner, Tembinkosi Bonakele.
Ends.
For more information or for media enquiries, please contact:
Sipho Ngwema, Head of Communications
012 394 3493/ 078 048 1213/ SiphoN@compcom.co.za

Public Protector’s preliminary report found that ABSA illegally benefited from apartheid cash injections from the South African Reserve Bank.
JOHANNESBURG, South Africa, February 19, 2017 – On Friday, the Black First Land First (BLF) movement marched to the South African Reserve Bank (SARB) (APO.af/JsJaEi) to demand that the institution act on the Public Protector’s preliminary report which found that ABSA illegally benefited from apartheid cash injections from the SARB.
BLF joined the ANC Youth League (ANCYL) recently in a march to ABSA headquarters (APO.af/Y21xVq) to demand that #ABSAmustPay. The Public Protector, Adv Busisiwe Mkhwebane, found that ABSA should pay R3.2 billion.
BLF said they wanted the SARB to take seriously and act on findings of the CIEX report, which investigated money stolen during the late stages of institutionalised apartheid. The report found that R26 billion could be immediately recoverable.
The aim of the march was to also implore the SARB to punish corrupt banks, ABSA, Standard Bank and Investec, which the Competition Commission found (APO.af/VsZ1A9) had manipulated and fixed the rand/dollar price.



In the nation under President Jacob Zuma and African National Congress (ANC) there been done some shady dealings between government and private industry, this has been happening over years. Now the Financial Market and Banks have internally been agreeing on values and exchange rates on the South African Rands (ZAR), this is a luxury where the banks have set fixed prices and values. That in the end has given profits and sold the Rand on the open market. This in mind with the fixing and securing more profits for the banks as they we’re trading the currency on the open market. Also, to foreign investors and currency traders that try to make a profit on exchange and selling currency back again at a later date.
So this sort of financial manipulation has made sure for the 17 banks that have made agreements between the banks and communication that most likely paid more for the rand or more used more dollars for getting the South African currency. As proven with the statements of the Competition Commission and the South African Reserve Bank, however, the trial and the review will continue to shed light on the possible internal-trade in the financial business of the Republic.
The opening of review of Forex exchange of the Rand:
“The Competition Commission has today referred a collusion case to the Tribunal for prosecution against Bank of America Merrill Lynch International Limited, BNP Paribas, JP Morgan Chase & Co, JP Morgan Chase Bank N.A, Investec Ltd, Standard New York Securities Inc., HSBC Bank Plc, Standard Chartered Bank, Credit Suisse Group; Standard Bank of South Africa Ltd, Commerzbank AG; Australia and New Zealand Banking Group Limited, Nomura International Plc., Macquarie Bank Limited, ABSA Bank Limited (ABSA), Barclays Capital Inc, Barclays Bank plc (Respondents). The Commission has been investigating a case of price fixing and market allocation in the trading of foreign currency pairs involving the Rand since April 2015. It has now referred the case to the Tribunal for prosecution. The Commission found that from at least 2007, the respondents had a general agreement to collude on prices for bids, offers and bid-offer spreads for the spot trades in relation to currency trading involving US Dollar / Rand currency pair. Further, the Commission found that the respondents manipulated the price of bids and offers through agreements to refrain from trading and creating fictitious bids and offers at particular times. Traders of the respondents primarily used trading platforms such as the Reuters currency trading platform to carry out their collusive activities. They also used Bloomberg instant messaging system (chatroom), telephone conversation and had meetings to coordinate their bilateral and multilateral collusive trading activities. They assisted each other to reach the desired prices by coordinating trading times. They reached agreements to refrain from trading, taking turns in transacting and by either pulling or holding trading activities on the Reuters currency trading platform. They also created fictitious bids and offers, distorting demand and supply in order to achieve their profit motives” (CompCom, 2017).
South African Reserve Bank statement:
“The South African Reserve Bank (SARB) has noted today’s announcement by the Competition Commission South Africa (Competition Commission) that it has completed its investigation initiated in April 2015 and has referred to the Competition Tribunal for prosecution a case of price fixing and market allocation in the trading of foreign currency pairs involving the South African Rand (ZAR)” (…) “The rand is a globally traded currency. Some 30.0% of daily turnover in the ZAR takes place in South Africa, and turnover with non-residents accounts for 57.5% of domestic turnover. Figures published by the Bank for International Settlements indicate that for the month of April 2016, the daily average worldwide turnover in the foreign exchange market involving the ZAR was approximately USD49.0 billion. This represented 1% of total turnover in the international foreign exchange markets” (…) “The SARB sees the allegations in a serious light. The SARB will allow the legal processes now initiated to run their course, and will continue to monitor developments closely to inform any action that we may need to embark upon in accordance with our mandate and jurisdiction” (SARB, 2017).
So we can now wait and see what the efforts and effects. If this can hit the currency and its value, if this has been a fix to juice it up or even put in a bubble where the banks has earned profits on illegitimate transactions as the communications between the banks has set standards of the prices and expenses, so the costumers and businesses has overpaid for the currency in trading. This proves that the greed and coins goes together. The banks of South Africa ceased an opportunity and grasped it.
We have to see when the Competition Commission of South Africa releases their report and their conclusions as the review and the findings of colluding will be put in court. However, the world gets to see the internal trading and agreements between the banks to fix the prices of currency, especially the value of the South African Rand (ZAR). Therefore the release of information on how they fixed it and how they speculated on it, will show how banks did this. Trust this, the report and the papers on this financial transactions and agreements will be juicy and show the inner-works of the banks. That is knowledge that the Republic of South Africa deserves, as these people and professionals are the ones making sure the monies are used and taken care off. Peace.
Reference:
South African Reserve Bank – ‘SA Reserve Bank Notes Competition Commission Decision’ (15.02.2017) link: https://www.resbank.co.za/Lists/News%20and%20Publications/Attachments/7681/SARB%20statement%20on%20Competition%20Commission%20announcement.pdf
The Competition Commission South Africa (CompCom) – ‘Breaking News: Competition Commission prosecutes banks (currency traders) for collusion’ (15.02.2017)

Now that a few days have gone by and mind is put to the rest, the State of the Nation Address 2017 #SONA2017 of South Africa been held in the National Assembly and the dust have settled. We can still wonder if this was the outcome and the wished legacy that the African National Congress (ANC) wanted to leave behind. The speech of President Jacob Zuma will not be the important matter after the national tragedy; even the Greek legends couldn’t have created a masterpiece of this proportion.
Economic Freedom Fighters (EFF) under Julius Malema or the Democratic Alliance (DA) under Mmusi Maimane couldn’t have wished for better audience to show the neglect and lost space under President Zuma. President Zuma has forgotten his heritage and what he carries with his position. Zuma is living on laurels of others, but not honouring it, instead he and his allies are eating of it. They are eating so heavy that all meat is scratched off the bone and digested.
Even The Congress of the People (Cope) leader Mosiuoa Lekota wouldn’t have thought this would go this far, even the so the South African Communist Party (SACP) Blade Nzimande must think that the freedom fighting days of ANC and wish for a equal distribution of goods and wealth is long dead in the ruling party. If it was so the ANC would not enrichen their elite and new-wealthy men and woman who loyally are eating of the government plate; instead of building progressive and clear-cut initiative to create work for a broader base of the citizens. Those days are long gone and forgotten after the term of Thabo Mbeki.

Zuma had to bring the National Army into the chambers where the speech of the president was about to happen, as much as the Police Officers presences on the streets was like a lock-down from the get-go. Like Zuma was preparing for a show of brutal force and not a honouring the Parliament and its constitution. Not like he has respected before, he has only had eager for power and not for running it for a common good. That MP Mapisa Nqakula needed to gazette legality on the 9th February to make sure the public of legality of having the army in the Parliament between 5th to 10th February. Zuma has many loyal servants that honour him instead of the constitution. Nevertheless, that is just a floosy disgusting paper right, aye?
No matter if an ANC MP created a fuzz with words and the ANC Parliamentary Speaker Baleka Mbete would have been Nobel in his approach. Instead of dialogue or even giving space, he expected to be a loyal servant only to Zuma and not to the rule of law. There are not many who doubt where the loyalty of Mbete lays, not with the codes of the sacred chambers of Parliament, but instead with the man who is the executive of the Republic. ANC has certainly forgotten their roots and their mission, the quests and their direction as a political movement.
What even more insulting after the violence of removing EFF and the DA walking out of the Parliament as a result of the misbehaving ANC MPs, the ones left behind started to sleep when President Zuma was addressing them. Well, there wasn’t anything serious left other than empty tin-box lies and deceit from the man-in-charge. Who has no scruples and no mercy for his opposition!
Zuma will now not tango with his enemy or even try to shadow play with the opposition, as the local election we’re insulting to the ANC and their ruling regime, that they lost important towns and places they have never seen others having mayors and local governments post-apartheid. That is the estate and the cracking into the party organization and the strain the chaos of corruption has left behind under Zuma. Something that not a puzzle of magic wand or public display can change, the heartbeat and the pulse is out of whack.

Zuma and his cronyism aren’t benefiting anyone nearly except his men and woman. The rest are left behind and on unknown terms as the leadership of ANC skates by with no concern of their reputation or their legislation. The procedures and their neglect of the value of institutions or government companies are proven with the delayed 2015 report on Eskom, that we’re released the day after Sona17, because ANC wanted another scandal than this one in the news.
Zuma wanted to be released from fatigue and disgusted with the sleeping MPs and the attacking opposition. He wanted to be claimed to be corrupt and neglect of his role as executive of holding the report behind locked doors. Just like he wanted to silence the Capture of the State report, but that one became a hot-potato he couldn’t keep in the archives until it was meaningless.
Now the SONA17 have put a new giant stain on the ANC, the Zuma administration and the National Assembly that prefers defending the Executive or defending the rule of law. As some say the constitution and the laws that built the Republic of South Africa. They doesn’t matter for Zuma or his cronies, but it means something to ones living in KwaZulu-Natal, the Orange State or anywhere else in the republic. Peace.

A long-time delayed report have been released this week, as the South African ruling party African National Congress (ANC) and their ministers has tried to subdue the private analysis of the government energy company ESKOM. However, this report will assess needed information that should have been delivered before the other leaks of questionable transactions and contracts that Eskom has done in the recent years under President Jacob Zuma. President Zuma has used his presidency to earn monies for his family members and even some of his family work in corporations that have gotten state contracts through Eskom. Therefore this report is telling of how the sufficient business-model and energy production has been handled by Eskom. This will be about the years before 2015 and to that date. What Eskom has done since has either been revealed through the contracts or through the scrutiny of Public Protector or Finance Minister who has questioned the company themselves. Just take a look at what I find as key things from this report!
“Prior to 1997, Eskom plant operated at relatively low energy utilisation factors (EUF). However, from the onset of Eskom 90:7:3 operational strategy in the mid-90s, the Eskom plant operated at higher EUFs. After 2012, the plant operational at very high EUFs with the median being in excess of 90%” (Dentons, P: 19, 2015).
About the lacking investment in older plants:
“The Generation Sustainability Strategy document cited information that Eskom has reduced planned maintenance (reflected in the Planned Capability Loss Factor (PCLF)) in order to maintain “Keeping Lights On (KLO)” strategy. It could be noted that the historical 90:7:3 strategy applied by Eskom should also be factored in the assessment of the fleet performance as international practice typically targets values in the order of 85:10:5” (…) “The historically low PCLF coupled with the KLO strategy and factors such as coal quality and high utilisation factors have led to a sharp increase in Unplanned Capabilities Loss Factors (UCLF)” (Dentons, P: 19, 2015). “The Generation Sustainability Strategy document indicates that the Eskom generation fleet has experienced 15 years of under-investment in capital expenditure (capex) which is largely the result of cost cutting due to financial and capacity constraints” (Dentons, P: 20, 2015). “The analysis of this information indicates that there was significant under-investment refurbishment capex versus best practice for an extended period of time (from the mid 1990s). The under-investment at plant mid-life age is also critical and significantly contributes to the current poor plant performance” (Dentons, P: 22, 2015).
2010 Football World Cup:
“To uphold the KLO Strategy, short term decisions were made by Eskom that negatively impacted on the long-term sustainability of the generation plant. Historically, this would include the impacts of maximising plant availability during the critical period in 2010 prior to and including the FIFA 2010 World Cup. The knock-on effects of deferring maintenance may not be immediately materialised and often manifest themselves later in the generation planning/production cycle. As an example, the available documentation indicates that in January 2013, five previous maintenance outages were not executed as scheduled as sufficient generation capacity was not available on the grid. The lack of generation reserves has also resulted in units operating outside limits of good practice. As an example, in June 2014, 46 out of the 79 coal units were operating outside of good practice” (Dentons, P:27, 2015).

Load Shedding:
“Load Shedding is the reduction of demand to achieve a balance between available generation and demand. If demand significantly exceeds available generation and reduction in demand is not achieved, the system will frequently drop, which may ultimately result in a system black-out” (…) “The problem Eskom faces is a steady decline in the performance and availability of its coal fleet. The further leads to a lack of ‘space’ to execute the maintenance required to restore the condition of the coal-fired power stations so as to achieve acceptable operating performance. This has been compounded by the delays in bringing on new capacity such as Mepudi, Kusile and Ingula” (Dentos, P: 30, 2015).
Skills to execute new build projects:
“When the decision to proceed with the new build projects was made, Eskom had limited skills to conduct such a project. Eskom has not developed coal power plants for decades. Experienced power plant staff (mostly operational staff) were moved to new build programme which left substantial skills gaps at the operating power stations” (Dentons, P: 38, 2015).
Delayed Projects:
“One of the measures taken by Eskom to bolster knowledge and experience was to recruit experienced resources internationally to increase the skills base. Eskom recently announced revised timelines for the Medupi and Kusile indicating that these projects will be further delayed and are now only planned completion by 2020 for Medupi and 2022 for Kusile. These appear to be more realistic time frames given the current status, but there remains general scepticism as to whether Eskom will be able to achieve this given its past track record on contract management for these projects” (Dentons, P: 42, 2015).
Debt made by Eskom:
“New debt of R49.5bn was taken on in the year to fund the continued capex programme. However, Eskom was downgraded to sub-investment grade status by both Moody’s and S&P and thus the funding was provided at much higher finance cost. Liquidity concerns were heightened as the net cash flow from operating activities of R23.3bn was not sufficient to cover the total of debt due for repayment of R17.1bn as well as the net financing interest payable of R15.3bn resulting in a shortfall of R11bn. In essence borrowings were starting to be used for ongoing operations” (Dentons, P: 89, 2015). “Eskom Treasury recently highlighted the key risks that Eskom faces to execute the borrowing programme, and in turn therefore complete the new builds: realisation of BPP cost savings; cost overturns on Medpudi and Kusile; RCA cost recovery in MYPD3 future years; Declining future ratios; threat of future ratios; threat of further credit rating downgrades; inadequate liquidity buffer; Lack of market appetite for Eskom debt; and inability to execute borrowing programme. In FY2015, all of these risk materialised” (Dentons, P: 94, 2015). “Recent history does not place these risks in a good light. Eskom is currently sacrificing its future to survive. If sales and arrears continue to plague Eskom, there is a shortfall in lending, a failure to meet meaningful cost savings, and a continued EAF below 80% prevail (in other words a continuation of the trend of the past 2 years), Eskom’s bail-out funds will evaporate” (Dentons, P: 95, 2015).

That this report is damaging to the reputation of Eskom. This shows the malpractice and lacking of guidance that the company has had. The monopoly and grand control over the market as the state corporation has given it kickbacks and security of funds, even as they haven’t done things properly or planned. Therefore the enlightenment and the clear indication of lose planning and less of experts on the field of building new power-plants is proof of the misguided and maladministration that’s been inside the Eskom company.
The African National Congress that has been the ruling regime and the ruling party, that has been in-charge of the resources and the selection of hiring and changing leaders of the company. Can be put to blame for lenient and lacking acts of putting in place enough expertise and enough clear procedures on how the changing leadership should go about. So the Eskom could be sure of having men and woman who we’re qualified and had experience to handle an organization and business like this.
The report highlights major facts and breaches in also ordinary buying procedures and lacking of that and other issues that I couldn’t fit. There are many lose ends that Eskom has and needs to address, that ANC has to take responsibility for and also answer for. Because the Company has dwindled and lost its edge during the reign of ANC and President Zuma, who rather spoils the company instead of investing in it! Peace.
Reference:
Dentons – ‘Report on Eskom’ (02.07.2015)