Sunday, March 22, 2009

Zuma saga "rattling investors"

Reports that the National Prosecuting Authority is considering dropping charges against ANC presidential candidate Jacob Zuma are rattling investor confidence in South Africa, said Democratic Alliance leader Helen Zille.

See also; NPA bowing to political pressure?

Killing the dream to save one man

It was "irresistible" not to draw the conclusion that should NPA officials drop fraud and corruption charges against Zuma, it would be to save their jobs under a Zuma administration, she said in her weekly newsletter, published on the DA's SA Today website.

"The following conclusion is also irresistible: The ANC 'deployed' Kgalema Motlanthe to the presidency in order to clear the way for Jacob Zuma.

"Motlanthe's instructions were to preside over the disbanding of the Scorpions - the unit that collected and collated the damning evidence against Zuma - and fire Vusi Pikoli as National Director of Public Prosecutions - because he laid charges against Zuma.

"The next step was the release of Schabir Shaik - as part of a deal to prevent him giving evidence against Zuma - thus silencing the key witness in the case."

These developments sent out an unambiguous message to anyone else who took on Jacob Zuma.

"The ANC has placed its leaders above the law and the Constitution. Anyone who fails to understand this will lose their jobs and their future prospects.

NPA has been 'offered a deal'

"When one asks why the NPA would withdraw charges against Jacob Zuma in this context, the answer, too, is irresistible: They have been offered a deal that will save their jobs in a Zuma administration so that they can avoid the fate of the Scorpions and Vusi Pikoli."

If the NPA succumbed to political pressure and blackmail, a pillar of South Africa's constitutional democracy would have become part of the ANC's crony protection racket.

"Foreign investors don't like to hear these things. When a closed group of political cronies casts the law aside to protect and advance its own interests, the stability and certainty required for a safe investor environment is severely undermined," Zille said.

5 Opinion(s):

Anonymous said...

Zuma has always threatened to bring the whole cabinet down if he is brought to trial. But there does not seem to be any evidence (yet) that Mbeki and others were involved in the whole arms deal other than Thint, the Shaik brothers and Jacob Zuma.

If there is additional evidence, it should be brought forward now.

Dachshund said...

If you have any remaining illusions about the sanity of people, disabuse yourself of them right now.

This is what people are "investing" in these days.

Rhema rakes in millions

In these economically trying and troubled times, religion, it seems, is good business.

Rhema Ministries, the church that last Sunday famously hosted ANC presidential candidate Jacob Zuma at a service in Randburg, Gauteng, on Friday announced an income of "slightly above R100-million" for the past year.

The bulk of this was gathered in the form of "tithes and offerings" from its about 40 000 congregants.

According to financial manager and group accountant Alison Whittall, the church has grown its balance sheet "in spite of a higher interest rate environment and a general economic meltdown".

"This demonstrates the congregants' commitment to the vision of the church," she said in a statement.

Asked where the R100-million came from, church deputy administrator Vusi Mona told Sapa: "Mainly from tithes and offerings; about R68-million from that, the rest comes from the wholesale bookstore, television (service) and the bible school."

To "tithe" means to hand over a tenth of one's income to a religious institution. Tithing has its origins in the early Middle Ages, and its application in the modern world is based on interpretations of various texts in the Christian bible.

Asked what the church's policy was on tithing, Mona replied: "We encourage it."

According to the statement, Rhema's total assets grew during the course of the past year to R51.2-million, up from R47.8-million in 2007.

"Notably, the church achieved its salaries bill-income levels set for the year under review. The salaries costs to income ratio were 52 percent, while it was 59 percent for the previous year."

Fifty-two percent of R100-million means Rhema's salary bill was R52-million last year. According to Mona, the church has "167 salaried staff", which would mean a salary per staffer of about R311 000 a year if the full amount was split evenly between them.

The statement also quotes Rhema's "senior pastor" and founder, Ray McCauley, as saying the church and its trading entities had "maintained financial sustainability and shown healthy growth".

He said the goal looking forward was "to post even much stronger results that will enable the church to fulfil its mandate of taking the gospel to the world and looking after the poor".

In a separate statement on Friday, Rhema Ministries also announced the appointment, among others, of McCauley's son, Joshua, as executive director of the ministry's television, publishing and wholesale operations.

Sapa

Anonymous said...

On the issue of expansion of the Ethnic Bantu: 'Nature fights back'

"Maputo - At least 25 people were killed by wild animals in the north-western Mozambican district of Magoe in Tete province, 3000km north of Maputo, and 16 were seriously injured in 2008, the daily Noticias reported on Monday.

The report cited Antonio Mapure, Magoe district administrator.

Six cattle and 36 goats were also killed by wild animals in the same district in 2008, said Mapure.

He said the problem animals which killed people included lions, hyenas and crocodiles, while elephants and hippopotamuses had destroyed more than 56 hectares of different crops during the same period.

In 2007, the Mozambican government authorised the army to shoot problem animals which killed people or destroyed fields. - Sapa"

Whenever Bantu populations move into previously uninhabited areas, they initially come off second best, but their ridiculously high birth rate soon allows them to populate the new area!

WHITEADDER said...

Hey Dachshund - You sure know that the lord mooves in mysterious ways ! A while age I was told that the Sicilian Mafia also tries to get 10 % of turn over from the flock they " protect ". I wonder if Lolly Jackson makes bucks like that. After all he is also in the feel good business .

Dachshund said...

@WHITEADDER: That 10% kickback, it's an old Catholic custom which pious mafiosi followed.

I think Lolly Jackson makes a lot more percentage on turnover, but you must remember he's not big business like the Catholic church so he can't afford to slash his margins to 10%.