Attorney Michael de Broglio on: South Africa, Law, Politics, Attorneys, Sport, Photography, Technology, Gadgets, Media, Crime, Road Accidents Fund,
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I wrote about Kapsch TrafficCom previously – it is the company that runs e-toll roads in South Africa. At that time its share price was €38 (at one point it touched €45). For those of you who did not believe that e-tolls were going to take off in South Africa you had a wonderful betting opportunity – to bet that this company’s share price would go down, and you would have made a fortune. Its share price seems to be in a terminal slide at the moment and down to €18.83 and that seems to indicate that investors do not believe that the e-toll system in South Africa is going to survive. That does place companies such as ours, where we followed the law, in somewhat of an unfair position – ultimately we would have paid tolls that three quarters of the people have not, and are probably not going to. On the other hand, one does not want, as a law firm, to be breaking the law. The bottom line though is that it certainly appears from the share price of Kapsch TrafficCom that the e-toll system is going to be done away with, one way or another eventually.
Posted by Michael de Broglio on Monday 20-Oct-14
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Comments
Nicky said:
on Friday 24-Oct-14 04:45 PM
I always wonder how does Sanral intend to impose prosecution or any other sanction if 2/3rds of Gautengers are in default. The government don't even properly impose the sanctions for traffic fines and real crimes committed by less people than those not complying with E-toll.
Sinead said:
on Friday 24-Oct-14 03:18 PM
I have never supported this E-toll story. I have never received a bill and if I do, I will not pay it.
Alexis said:
on Wednesday 22-Oct-14 03:32 PM
I didn't have faith that it would last I must admit. To build these monstrosities and charge us for even more than what we can afford is ludicrous. I am happy to hear that this is not going to last. I feel sorry for the people whom have abided by the law and have wasted their money with regards to this - but such is life.
Catherine said:
on Tuesday 21-Oct-14 08:50 AM
E- Tolling was a project that was not thought through properly and enough consultation done before being implemented. This has resulted in all the problems experienced now.
Lizanne said:
on Tuesday 21-Oct-14 08:37 AM
I never invested in an e-tag and have not paid a single account received in the post. I really think if they promoted e-toll in a better way by getting the public involved, there would have been a different outcome. I think that e-toll will be taken away and then there will be a huge argument about all the money that was wasted on putting in the e-toll system and so on and so forth.
Brumilde said:
on Tuesday 21-Oct-14 07:30 AM
I haven't paid my e-toll as well. This is certainly an indication of what investors and people think about this system
Marisa said:
on Monday 20-Oct-14 02:07 PM
I have no idea why they brought it to South Africa in the first place, As i see it people don't even have money for food or school fees as they strike so much, how do they expect the people to pay e-toll. Once again it is proven we have the wrong Uhm Yeah..
Thabitha said:
on Monday 20-Oct-14 12:22 PM
Lots of money waisted again
Sally said:
on Monday 20-Oct-14 12:12 PM
I really hope it will be done away with, not that I paid a single account.
Nikita said:
on Monday 20-Oct-14 11:07 AM
I will be happy to see e-toll fail! I have not and never will pay an e-toll account!
Liesl said:
on Monday 20-Oct-14 10:31 AM
E tolls have been a thorn in our flesh. I will be very glad to see this whole project flop and die a natural death. I truly don't think this was a well thought through plan. Some people are not approved for credit or loans but have to fork out money for high e-toll bills. Not wise at all. Money wasted all around is a big concern.
Kaylee said:
on Monday 20-Oct-14 10:02 AM
I certainly hope so, not that I have paid any account.
Jade said:
on Monday 20-Oct-14 09:53 AM
I will be very happy to see the E-tolls go as I have been against them since the beginning. Perhaps this will dissuade the government from trying to take advantage of South-Africans.
I really love David's comment that an unjust law is no law, and our duty is rebel in such circumstances.
Elektra said:
on Monday 20-Oct-14 09:52 AM
It was only a matter of time before this caved in.
And as per my previous blog comment on e-toll - Zuma did not ask for Nkandla and I did not ask for e-toll. Hence I am not paying.
david said:
on Monday 20-Oct-14 09:29 AM
" On the other hand, one does not want, as a law firm, to be breaking the law."
your logic is flawed.
did you support apartheid because 'it was the law'?
this system will fail, you will not get a refund, and i will laugh.
it is our civic duty to rebel against unjust laws which are forced upon us.
Clare said:
on Monday 20-Oct-14 09:24 AM
I have joined the group that has been agents the E toll from Day one. I don't see why we must pay for something that no body actually had any say about, we pay our TAXS every month we pay for petrol ect.. The roads look like extremely disgusting but we must pay for the e toll.
Lucretia said:
on Monday 20-Oct-14 09:23 AM
Yet again we have wasted valuable money in building projects that will not go anywhere. If we had taken the billions that we spent on building gantries to fix the roads, we would have won 2 fold. We would have good roads to show for the money spent. Now we have to pay off debt and still don't have roads that are much better than before.
Angelique said:
on Monday 20-Oct-14 08:41 AM
As a law firm I guess that's the price you pay... you have to set an example. I haven't paid a single e-toll bill as yet, not that I use the highway much except for the odd trip to the South or going to Rivonia. I sure hope that it will be done away with. It's a pity that some people have paid all up all their bills almost for nothing.
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
