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Budget News

Procurement standard set to stop use of ‘cheap’ professional services

By: Marleny Arnoldi     18th August 2017 The National Treasury’s (NT’s) standard for infrastructure procurement and delivery management aimed at addressing government’s use of “cheap” professional service providers in public infrastructure projects officially became applicable to municipalities last month.  

South Africa’s defence industry faces serious challenges but also sees future opportunities

By: Keith Campbell     14th July 2017 South Africa’s defence and aerospace industry forms a major part of the country’s high-technology manufacturing and services sector. Moreover, the high-level skills it has developed and is maintaining are benefitting other sectors of the economy as well. According to the South African Aerospace,... 

South Africa’s defence industry faces serious challenges but also sees future opportunities

Gigaba tables economy action plan, reopens mining charter engagement 

By: Natasha Odendaal     13th July 2017 Finance Minister Malusi Gigaba on Thursday unveiled a series of aggressive planned interventions and action steps to stimulate economic recovery after South Africa’s fall into recession in the first quarter. His address revealed two main desired outcomes – dodge another downgrade and reignite... 

Gigaba tables economy action plan, reopens mining charter engagement
Finance Minister Malusi Gigaba

South Africa’s policy uncertainty pushed further into negative territory

By: Natasha Odendaal     11th July 2017 The heightened policy uncertainty, revealed by the North West University (NWU) School of Business and Governance’s latest quarterly Policy Uncertainty Index (PUI), shows an urgent need for South Africa to “get the politics right in order to get the economics right” to promote the policy certainty... 

Treasury must remain independent, says Pandor

By: News24Wire      11th July 2017 Treasury in a democratic country must remain independent, African National Congress (ANC) National Executive Congress (NEC) member Naledi Pandor said on Monday. She appeared to disagree with a proposal made at the ANC’s national policy conference last week, that the budget and resource allocation... 

Treasury must remain independent, says Pandor
Photo by Duane Daws
ANC NEC member Naledi Pandor

Business holds small-business funding line, despite serious postreshuffle trust deficit

By: Mia Breytenbach     30th June 2017 It is now well documented how President Jacob Zuma’s March 31 Cabinet reshuffle, which saw South Africa’s highly-regarded Pravin Gordhan removed as Finance Minister, seriously undermined trust between government and its social partners, including business. The controversial move also placed the... 

Business holds small-business funding line, despite serious postreshuffle trust deficit

Short- and long-term options for ailing supply

By: Tasneem Bulbulia     30th June 2017 Although South Africa’s current dam infrastructure setup is reliable, sustainable consulting in the built and natural environment provider WSP Africa Structures senior engineer Peter Townshend says there are a number of short- and long-term solutions that South Africa can pursue to augment water... 

Short- and long-term options for ailing supply
Photo by Duane Daws
DAMNING STATE Dams in South Africa are under pressure to meet a growing water demand

Gauteng housing department remains committed to megaprojects 

By: Anine Kilian     29th June 2017 The Gauteng Department of Human Settlements is committed to the implementation of 31 megaprojects that are expected to yield more than 300 000 houses when completed. Unpacking the 2017/18 financial year’s budget vote for the department, MEC Paul Mashatile on Thursday said the department would... 

Creecy vows to use ICT to improve service delivery in Gauteng

By: Anine Kilian     29th June 2017 Gauteng Finance MEC Barbara Creecy says the Gauteng Provincial Treasury (GPT) will use its R712.6-million budget this financial year to promote clean governance and protect public funds to ensure the funds are used to deliver services to citizens and not siphoned off. Presenting the 2017/18... 

Creecy vows to use ICT to improve service delivery in Gauteng
Photo by Duane Daws
Barbara Creecy

‘Stifling legislation’ preventing SA drones industry from gaining altitude 

By: Dylan Slater     23rd June 2017 The drones industry in South Africa has the potential to benefit numerous industries, potentially contributing just under R7-billion this year alone, according to economist Dr Roeloef Botha.  

‘Stifling legislation’ preventing SA drones industry from gaining altitude

Maile’s 2017 budget to focus on jobs

By: Natasha Odendaal     22nd June 2017 Gauteng will continue its focus on intervening decisively to resolve the bottlenecks facing various industry sectors to save and create jobs at a time when the unemployment rate in the province remains high. Economic Development and Agriculture and Rural Development MEC Lebogang Maile on Thursday... 

SAA to implement turnaround plan 

By: Megan van Wyngaardt     20th June 2017 Cash-strapped South African Airways (SAA) has compiled a five-year business turnaround plan, aimed at improving its financial stability, it said on Tuesday. The national carrier is currently plagued by a weak balance sheet, with projected losses of R3.5-billion for 2016/17– a R 2-billion increase... 

SAA to implement turnaround plan
Photo by Duane Daws
South African Airways acting CEO Musa Zwane

Country’s science and technology budget remains stable

By: Keith Campbell     26th May 2017 The annual budget of the Department of Science and Technology (DST) remains stable, in real terms. “It’s in line with inflation,” DST Director General Dr Phil Mjwara told Engineering News Online at a recent press briefing. “It’s not declining, it’s not growing.” However, exchange rate volatility... 

GEPF assures its funds are not used to bail out troubled SAA

By: Natasha Odendaal     25th May 2017 The Government Employees Pension Fund (GEPF) on Thursday assured that it was not funding the recapitalisation of ailing national airliner South African Airways (SAA), nor had it been approached to contribute. Speculation emerged last week that the GEPF’s assets will be used, through its fund... 

Reform of South African public enterprises would help reassure investors – IMF 

By: Terence Creamer     19th May 2017 The International Monetary Fund (IMF) says "structural reforms" in product, service and labour markets should be South Africa’s immediate policy priority for stimulating growth and job creation, particularly in light of the limited room to galvanise growth through macroeconomic policies. It also... 

Reform of South African public enterprises would help reassure investors – IMF

Gigaba appoints acting DG as Fuzile departs

By: Terence Creamer     15th May 2017 Finance Minister Malusi Gigaba on Monday appointed Dondo Mogajane as acting director-general, effective May 16, after Lungisa Fuzile completed his notice period. Mogajane would act in the position “until the process of appointing a new director-general is completed”. 

New audit service to support concrete product manufacturers

By: Tasneem Bulbulia     12th May 2017 Cement and construction materials supplier AfriSam is providing additional support for its Concrete Product Manufacturers (CPMs) customers through its new Efficiency Audit service offering. AfriSam national sales manager Amit Dawneerangen says there has been a downturn in infrastructure projects... 

New audit service to  support concrete  product manufacturers
CENTRE OF EXCELLENCE AfriSam’s Centre of Product Excellence offers customers an additional Efficiency Audit service

‘Budget Priorities’ paper for 2018 Budget to be compiled by end May – Radebe

By: Terence Creamer     9th May 2017 Minister in The Presidency Jeff Radebe confirmed that the Department of Performance Monitoring and Evaluation (DPME) would finalise a ‘Budget Priorities’ paper by the end of May in a bid to improve alignment between the 2018 Budget and the National Development Plan (NDP). The paper, which will be... 

‘Budget Priorities’ paper for 2018 Budget to be compiled by end May – Radebe
Photo by Duane Daws
Minister Jeff Radebe

Johannesburg to restore dignity to residents through job creation – Mashaba

By: Megan van Wyngaardt     3rd May 2017 The City of Johannesburg cannot continue accepting its projected 1.6% economic growth rate, as it will not be able to reverse the high rates of unemployment, Johannesburg Mayor Herman Mashaba said on Wednesday, adding that the city needed to achieve a minimum of 5% economic growth by 2021. During... 

Johannesburg to restore dignity to residents through job creation – Mashaba

Johannesburg residents face rates, tariff increases 

By: Megan van Wyngaardt     18th April 2017 The City of Johannesburg will increase its rates and tariffs for 2017/18 by an average of 12.2% for water and sanitation, 2.8% for electricity, 6.1% for refuse removal and 6.2% for property. In a presentation on the city’s Integrated Development Plan for the next five years, Mayor Herman Mashaba... 

Johannesburg residents face rates, tariff increases

Gigaba to attend IMF, World Bank meetings  

By: Sane Dhlamini     18th April 2017 Finance Minister Malusi Gigaba’s upcoming trip to the US for the International Monetary Fund (IMF) and World Bank Spring Meetings and further interactions with rating agencies received a thumbs up from Deputy President Cyril Ramaphosa today.  “Well, the Minister is going to the Spring IMF... 

Gigaba to attend IMF, World Bank meetings
Photo by Bloomberg
Finance Minister Malusi Gigaba

Development projects a core part of business

By: Simone Liedtke     7th April 2017 Owing to the role of groundwater resource development projects in communities’ wider socioeconomic wellbeing, consulting engineering company JG Afrika’s geohydrology technical director Mark Schapers says these projects are fast becoming a core part of the team’s business. 

Development projects a core part of business
SUSTAINABLE IMPLEMENTATION Rural areas are being targeted for the project as they have been poorly serviced in the past

Cabinet reshuffle places South Africa firmly in junk status crosshairs

By: Natasha Odendaal     31st March 2017 As South Africa reels from the news of another Cabinet reshuffle overnight, the damage to business confidence and a renewed threat of a ratings downgrade should not be underestimated. After a week of speculation, President Jacob Zuma on Thursday night made sweeping changes to his Cabinet,... 

Cabinet reshuffle places South Africa firmly in junk status crosshairs
Econometrix chief economist Dr Azar Jammine

S&P Global sees higher use of guarantees by Eskom as ratings ‘pressure point’

By: Terence Creamer     14th March 2017 S&P Global warns that contingent liabilities associated with guarantees to State-owned companies (SoCs) such as Eskom have emerged as a “pressure point” for South Africa’s sovereign rating, which the agency currently has at one notch above junk, but with a negative outlook. The negative outlook... 

S&P Global sees higher use of guarantees by Eskom as ratings ‘pressure point’

Forging market for automotive application to be valued at $56-billion by 2022

     10th March 2017 Market research company Zion Market Research has published a new report highlighting that the global steel forging market for automotive applications was valued at $41.77-billion in 2016 and is expected to reach $56-billion in 2022, growing at a compound annual growth rate (CAGR) of 5.1% between... 

Forging market for automotive application to be valued at $56-billion by 2022
Photo by Duane Daws
INCREASED DRIVE Increasing cars sales are expected to drive the European automotive and automotive components market within the forecast period

Changes to procurement rules open R150bn opportunity for small firms – Zulu 

By: Terence Creamer     28th February 2017 Changes to South Africa’s preferential procurement regulations, which take effect on April 1, will open a R150-billion opportunity for small businesses and cooperatives, Small Business Development Minister Lindiwe Zulu has acknowledged. The Minister revealed the figure during the Economic... 

Changes to procurement rules open R150bn opportunity for small firms – Zulu
Photo by Duane Daws
Small Business Development Minister Lindiwe Zulu

Tax administration developments ‘deeply disturbing’, Davis warns 

By: Terence Creamer     24th February 2017 Judge Dennis Davis, who heads Davis Tax Committee, set up in 2013 to assess South Africa’s tax policy framework, has added his voice to concerns about the state of tax administration in South Africa, particularly in light of the R30-billion under-recovery in 2016/17 relative to the estimate... 

Tax administration developments ‘deeply disturbing’, Davis warns
Photo by Duane Daws
Judge Dennis Davis

Busa welcomes Budget, commits to playing a role in country’s economic transformation

By: Megan van Wyngaardt     23rd February 2017 Business Unity South Africa (Busa) on Thursday welcomed the prioritisation of education and social spending, as well as the reforms in public procurement outlined by Finance Minister Pravin Gordhan in his Budget speech on Wednesday. Busa believes these measures will generate improved efficiencies... 

Association highlights the negative impact of poultry imports on the feed industry

By: Megan van Wyngaardt     23rd February 2017 Poultry meat imported into South Africa during 2016 displaced around 1.5-million tonnes of broiler feed, worth an estimated R8.2-billion or the equivalent of 15 medium-sized feed mills, which could have been locally manufactured, Animal Feed Manufacturers Association of South Africa (AFMA) said... 

Association highlights the negative impact of poultry imports on the feed industry

Treasury seeks to establish budgeting facility for large infrastructure projects

By: Natasha Odendaal     23rd February 2017 As South Africa’s government moves to strengthen its budget execution and improve in-year monitoring, while also bolstering infrastructure development, the National Treasury has proposed the establishment of a new facility to optimise large multiyear infrastructure project roll-outs that require... 

Treasury seeks to establish budgeting facility for large infrastructure projects

Continued support for renewables IPPs an economic boost – Sarec 

By: Megan van Wyngaardt     22nd February 2017 The South African Renewable Energy Council (Sarec) has welcomed the confirmation by Finance Minister Pravin Gordhan that the continuation of South Africa’s independent power producer (IPP) programme was imperative, given the need to boost investment in the short term. In a statement following... 

2017 Budget 

     22nd February 2017 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the highlights of the 2017 Budget that was presented by Finance Minister Pravin Gordhan on Wednesday. 

2017 Budget
2017 Budget. Camera and editing: Nicholas Boyd

Seifsa welcomes R95m steel development fund

By: Megan van Wyngaardt     22nd February 2017 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) on Wednesday welcomed Finance Minister Pravin Gordhan’s R95-million allocation towards the establishment of a Steel Development Fund in the 2017 National Budget. The fund will be controlled by the Industrial Development... 

Sacci outlines Budget expectations

By: Creamer Media Reporter      21st February 2017 With Finance Minister Pravin Gordhan preparing to deliver his 2017 National Budget speech on Wednesday, the South African Chamber of Commerce and Industry (Sacci) weighed in on its expectations at a time when South Africa is experiencing subdued economic growth. Amid the Reserve Bank having... 

Fiscal consolidation, tax increases, SoE cost containment critical for pro-poor Budget - Busa

By: Natasha Odendaal     20th February 2017 Fiscal consolidation, considered and careful tax increases and parastatal cost containment will be critical elements for a pro-poor, pro-inclusive-growth Budget for South Africa for the year ahead. While there is a limit to what can be achieved through an effective Budget, Business Unity South... 

Certainty on Carbon Tax needed from this year’s Budget – Cova

By: Creamer Media Reporter      20th February 2017 With expectations of the long-awaited Carbon Tax being implemented in 2018, much more clarity and certainty will be needed from the 2017 Budget, which will be delivered by Finance Minister Pravin Gordhan on Wednesday. Currently, much uncertainty exists, with industry questioning policy certainty,... 

South Africa remains on junk ‘knife-edge’ as ANC succession takes centre stage  

By: Terence Creamer     14th February 2017 South Africa will remain on a downgrade “knife-edge” in 2017, Standard Bank chief economist Goolam Ballim warns, despite the bank’s view that the country’s growth will recover to 1.4% from only 0.4% last year. Both Fitch Ratings and S&P Global currently have South African on ‘negative watch’,... 

South Africa remains on junk ‘knife-edge’ as ANC succession takes centre stage
Standard Bank chief economist Goolam Ballim on how Finance Minister Pravin Gordhan may adjust tax policy to sustain consolidation path, while limiting negative growth impacts. Camera Work: Duane Daws. Editing: Lionel da Silva. 14.2.2017
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