Brief snapshot of potential resources for education in SA. #FeesMustFall

“According to Police Minister Nathi Nhleko only R50.5m was spent on security upgrades to President Jacob Zuma’s Nkandla home”(1).

2. Current fee prices. (2)

3. Therefore 246,000,000.00 in mismanaged/unaccounted for funds from Nkandla is very approximately (because of the differences in pricing) 2,000 3-year degrees.

4. The SA Post Office reportedly has 1,370, 000,000.00 in losses. In its Integrated annual report: “The tough trading conditions have largely contributed to the final result of a net loss of R178.687 million (2012: R157.855 million profit)” amongst others (3). If the former is correct, including other loses the Post Office has detailed in their report, that figure equates to approximately 11,138 3-year degrees.

“The SA Post Office received specific funding of R51.965 million (2012: R180.442 million) for the year ended 31 March 2013. This was used to fund the marginal post offices in the under — serviced areas so that we can meet the universal service obligation (USO)”. — The Annual Report

5. 3 x VIP jets for the presidential party have an estimated cost of 2,000,000,000.00, which equates to approximately (again it’s not an exact figure due to the differences in cost per province/establishment etc.) 16, 260.

6. eToll project overspend is estimated at 10, 000, 000, 000.00 (OVERspend) for something people already had concerns about and were already largely opposed to. It’s also been described as “an embarrassing disaster” here, which is provocative, I realise, but still — some valid points: http://mg.co.za/article/2014-01-28-how-e-tolls-turned-from-being-a-good-concept-into-a-flop

“ The South African National Roads Agency’s (Sanral’s) e-toll money woes are deepening as the project cost citizens R7.1 billion more than it should have, while debt on the project has ballooned by R6.8 billion in 12 months” (4).

7. PetroSA losses: “STATE oil company PetroSA on Wednesday tabled its annual financial statements to Parliament, confirming speculation of a record loss of R14.5bn for 2015, and stated that “radical actions” would be required to ensure its survival.(5)” If this is approximately correct then bailing out PetroSA equates to approx. 9,756, 098 3-year degrees.

Government spending that’s not quite accounted for or used unnecessarily, bailout money and projected funding could therefore cover the costs of approximately 10,037, 538 3-year degrees, not to mention shorter courses, Diplomas etc. And, we aren’t even touching on other areas of financial mismanagement and other projects government intends to fund. Also massive expenditure on affiliated organisations and companies that directly benefit from relationships with government.

Just some things to think about in light of comments that resources for education will have to come from increased tax.

(1)http://businesstech.co.za/news/government/92182/nkandla-security-upgrades-only-took-up-25-of-total-spend/

(2) http://businesstech.co.za/news/general/77079/top-sa-universities-how-much-they-cost/

(3) http://pmg-assets.s3-website-eu-west-1.amazonaws.com/131016saporep.pdf

(4)http://www.itweb.co.za/index.php?option=com_content&view=article&id=143880

(5) http://www.bdlive.co.za/business/energy/2015/10/01/petrosa-reports-record-r14.5bn-loss