Dudu Myeni has been away for the past few weeks just like last month’s pay. She does not answer her phone, does not respond to messages, does not read emails. No one can find her. And why?
Because, before the end of this month, she has to repay a loan of R2,3 billion to Standard Chartered Bank, the British division of Standard Bank. The bank said they can no longer delay repayment, SAA must start paying now. Economists expect many other creditors will start looking for their money during this week.
And now Dudu crawls away. Since April, she has missed eight Council meetings, convened to discuss the money issue.
The problem is that the state has been responsible for the loans and will probably have to pay with more taxpayers money. That is why Zuma and Gigaba are planning to plunder the State Pension Fund (GEPF) for the money. Because where will the state get the money, South Africa is in debt up to the nostrils?
The amount of the country’s debt by this morning takes one’s breath away. It’s an amount that Jacob Zuma in all eternity will not be able to pronounce, in fact, it is questionable whether anybody can express it!
Read the original article by Daniel Lötter in Afrikaans on Front Nasionaal SA – blad
South Africa Today – South Africa News
