Sanral is going down!

2014-01-21 13:09
There is no doubt: Sanral (or Scamral as it is more popularly known) is on its way down. E-tolling needs an 80% compliance ratio in order to pay its bills. (They originally estimated only a 7% 'default ratio'.) Currently, only about 1 in 4 cars are e-tagged, mostly businesses, government and rental cars. That means a 25% compliance ratio - and a 75% default ratio. Sanral's debts are rapidly rising (last I heard from R21 billion to R41 billion). A senior member of Sanral resigned in November last year. Their Chief Financial Officer resigned this month. Ever hear about rats and sinking ships? The truth is that the arrogant ANC barged ahead with minimal consultation, sinking some R18 billion of their pension fund investment into Sanral, hoping for fat profits. Now - in an election year nogal - they have massive egg all over their faces. They did the deal with Kapsch, who were formerly proven overseas to have paid massive bribes in our very own Armsgate scandal. Kapsch (who now have had several straight quarterly losses) boasted publicly that they were going to earn about R700 000 000 a year from SA e-tolls. Which would be money not going to fix our roads. No, the ANC (who ARE Scamral) have made a massive blunder. Hundreds of thousands of cars a day (many from the South of Jo'burg who earn relatively low wages) will simply NOT get e-tagged. Our system cannot cope with tens of millions of invoices a month, most of which will not be paid. No, Scamral, the writing is clearly on the wall. So stop wasting money on expensive, lying ads. Admit you have made a horrible mistake. And close down, before you waste any more of the taxpayers' money. The roads? Use our petrol levies, the funding INTENDED to fix the roads. Not build Inkandlas. And by the way, people, do not EVER, EVER get e-tagged. Until the whole horrible system crashes (as it will), Scamral will hound you to an inch of your life for money.
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