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OECD, Sars, Treasury sign MoC for taxation collaboration

By: Simone Liedtke     11th January 2019 The Organisation for Economic Cooperation and Development (OECD), the South African Revenue Service (Sars) and the National Treasury on Friday signed a memorandum of cooperation (MoC), in which all parties agreed to continue working together in the area of taxation. The MoC is in place until... 

Mashaba seeks Treasury's intervention in R180m housing funding dispute with province  

By: African News Agency      10th January 2019 Joburg Mayor Herman Mashaba said on Thursday said that the City manager will be writing to the director-general of National Treasury, Dondo Mogajane, to seek their urgent intervention in the R180-million housing funding dispute with the Gauteng province. This comes after Mashaba and Meshack van... 

Sanral’s strategy, transformation policy ready for Cabinet approval 

By: Irma Venter     22nd October 2018 The South African National Roads Agency Limited’s (Sanral’s) Horizon 2030 strategy is “ready to go to Cabinet”, in a process that will be managed by the Department of Transport (DoT), says Sanral transformation manager Ismail Essa. He says the Minister of Transport, Dr Blade Nzimande, as well as... 

Sars shortfall to blame for VAT hike – Treasury 

By: News24Wire      29th August 2018 Treasury would not have needed to increase value added tax by one percentage point to 15% in April if not for the revenue shortfall at the South African Revenue Services (Sars), deputy director general at National Treasury Ismail Momoniat told the Nugent Commission of Inquiry on Wednesday.... 

No longer flavour of the month, SA rethinks its bus rapid transit systems

By: Irma Venter     27th July 2018 It seems government’s love affair with bus rapid transit (BRT) systems has cooled. Courted in the Brazilian city of Curutiba – it is difficult to find a local government transport executive who has not been there on a study tour – and sworn to fidelity in the pressure cooker years before the... 

HSRC to investigate role of services in boosting growth within Southern Africa

By: Creamer Media Reporter      25th July 2018 The Human Sciences Research Council (HSRC) has been awarded a grant by the United Nations University (UNU) to investigate the catalytic role of tradable services in Southern Africa’s growth and development. The study will be led by Professor Ivan Turok and Dr Justin Visagie, and will look at how... 

Fuel price protestors send letter of demand to Ramaphosa 

By: African News Agency      24th July 2018 An organisation formed to combat increases in petrol and paraffin prices has sent a list of demands to president Cyril Ramaphosa. People Against Petrol and Paraffin Price Increases (PAPPPI) has requested a meeting with the head of state before its attempt at a national shutdown on Friday. 

Nxesi launches expedited lease renewal process

By: Simone Liedtke     31st May 2018 Public Works Minister Thulas Nxesi on Thursday held a meeting with client departments, private landlords and other stakeholders to expedite finding a resolution to expired leases and the signing of long-term leases, including the so-called “9.11 leases” that are valid for nine years and eleven... 

Govt, business welcome S&P’s ratings decision

By: Marleny Arnoldi     28th May 2018 Government and business leaders have expressed relief at ratings agency Standard & Poor’s (S&P’s) decision on Friday night to not further downgrade South Africa’s investment grade rating, but rather affirm long-term foreign and local currency debt ratings at ‘BB’ and ‘BB+’ respectively. According... 

Social compact an ‘essential foundation’ for overcoming poverty, inequality in South Africa 

By: Terence Creamer     14th May 2018 A new World Bank report describes President Cyril Ramaphosa’s plan for crafting a new social compact with business, labour and civil society as an “essential foundation” for overcoming the country’s legacy of racial exclusion, which remained the main cause of chronic poverty and worsening... 

SAA requires R5bn bailout to stay afloat – treasury official 

By: Reuters     8th May 2018 State carrier SAA requires a R5-billion cash injection in the current financial year to help it meet its financial obligations, a senior treasury official said on Tuesday. National Treasury director-general Dondo Mogajane told parliament the cash injection could however not come from government,... 

Monale Ratsoma appointed as Brics bank Africa region director-general

By: Simone Liedtke     10th April 2018 The National Treasury’s deputy director-general for economic policy Monale Ratsoma has been appointed director-general of the Brazil, Russia, India, China and South Africa, or Brics, New Development Bank (NDB) Africa Regional Centre. The appointment is effective from April 16. 

Lowering SoE risk to fiscus requires governance and business-model reform - S&P

By: Terence Creamer     27th March 2018 The risk posed to government’s fiscal position as a result of contingent liabilities linked to South Africa’s State-owned enterprises (SoEs) will be only partly alleviated by governance reforms, S&P Global Ratings warns, arguing that greater attention will also have to be given to reforming SoE... 

MPs move to set up inquiry into water department collapse

By: African News Agency      14th March 2018 Members of Parliament (MPs) on Wednesday resolved to forge ahead with a full-scale parliamentary inquiry into the collapse of the water and sanitation department. In a joint meeting of the water and sanitation portfolio committee and the standing committee on public accounts (Scopa), MPs decided... 

Busa optimistic of South Africa’s economic prospects

By: Marleny Arnoldi     13th March 2018 Business Unity South Africa (Busa) is optimistic about South Africa’s economic prospects following meetings with investors and ratings agencies in London this week.  

Proposed sugar levy unlikely to make sizeable dent in fiscal deficit – PwC economists

By: African News Agency      13th February 2018 Economists on Monday predicted that the proposed levy on sugar-sweetened beverages (SSBs) set to take effect in April this year in South Africa was unlikely to make a sizeable dent in the fiscal deficit. In 2016, National Treasury announced a Sugar Beverage Levy (SBL) on sugar-sweetened beverages... 

Winds of change have landed, bringing economic growth – BLSA CEO

By: Megan van Wyngaardt     18th January 2018 Business in South Africa has not been this hopeful about the future of the country in years, Business Leadership CEO Bonang Mohale said at a pre-World Economic Forum (WEF) briefing on Thursday. He highlighted that while the country was below investment grade, the recent African National Congress... 

Big room for improvement in payment of suppliers by government

By: Mia Breytenbach     22nd September 2017 While Minister in the Presidency for Planning, Performance, Monitoring, Evaluation and Administration Jeff Radebe’s commented last month that the time taken by government to pay suppliers is improving, small business representative organisation AHI has identified areas where there is room for... 

Afrimat Construction Index dips in Q2 2017, set to improve in Q3

By: Irma Venter     21st September 2017 The Afrimat Construction Index (ACI) declined marginally in the second quarter of 2017. The ACI is released by JSE-listed industrial minerals and construction materials miner and supplier Afrimat. It is a composite index of the level of activity within the building and construction sectors,... 

Afrimat Construction Index takes a dip in the second quarter of 2017, but prospects seem poised to improve

21st September 2017 Afrimat, a leading open pit mining company providing industrial minerals and construction materials, has released the findings of the third Afrimat Construction Index (“ACI”) for the second quarter of 2017. The ACI is a composite index of the level of activity within the building and construction... 

Gigaba announces MTBPS date, says Treasury will manage government debt

By: African News Agency      11th September 2017 Finance Minister Malusi Gigaba on Monday announced that he would deliver his inaugural Medium-Term Budget Policy Statement (MTBPS) next month on October 25. The MTBPS is a government report providing information on the country’s economic context, fiscal objectives, and spending priorities over a... 

Mandate Paper 2018 to set tone for government spending – Radebe

By: Chanel de Bruyn     7th September 2017 Government will set a cap on the use of consultants, place limits on what it spends on litigation and penalise departments and State entities for bad governance by withholding transfers and guarantees as part of its plan to reprioritise funding to meet the goals of the National Development Plan... 

National Treasury defends controversial changes in key positions

By: African News Agency      4th September 2017 National Treasury on Monday said the removal of Schalk Human from the post of chief procurement officer, along with two other senior officials, was a case of trying to ensure that  officials don’t act in a particular capacity for too long. “The changes were made in order to avoid a situation... 

Brics development bank confirms Treasury DG as South Africa’s representative

By: Creamer Media Reporter      11th August 2017 The Brics New Development Bank (NDB) has appointed National Treasury director-general Dondo Mogajane as the new director representing South Africa. He is succeeding Tito Mboweni whose term of service as director expired in early July after two years. 

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

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... 

You must be choking all over again

By: Riaan de Lange     23rd June 2017 It is a balmy London Sunday afternoon. It is June 11. It is Groundhog Day. Well, for me it is. Just a few hours ago, an unwelcome event recurred. You might even say that it was “It's deja vu all over again”, to quote Yogi Berra. Yes, Yogi Berra, and not Yogi Bear. (Yogi Berra was an American... 

Funding a thorny issue as Gautrain boss pushes for 150 km network expansion

By: Irma Venter     16th June 2017 Gauteng faces large-scale urbanisation pressure, says Gautrain Management Agency CEO Jack van der Merwe. “Around 547 people arrive in the province every day. At this rate, Gauteng’s population will far exceed 19-million people in 2037. Current population is around 13.5-million people. 

Funding a thorny issue as Gautrain boss pushes for 150 km network expansion

By: Irma Venter     15th June 2017 Gauteng faces large-scale urbanisation pressure, says Gautrain Management Agency (GMA) CEO Jack van der Merwe. “Around 547 people arrive in the province every day. At this rate, Gauteng’s population will far exceed 19-million people in 2037. The current population is around 13.5-million people. 

Ministers ask Public Protector to investigate Treasury and banking sector

By: News24Wire      31st May 2017 The Office of the Public Protector on Tuesday confirmed that several ministers have written a letter requesting that she investigate the conduct, alleged collusion and corruption at National Treasury and other financial institutions. Public Protector Busisiwe Mkhwebane’s spokesperson Oupa Segalwe... 

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”. 

‘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... 

Interest in nuclear energy said to be rising across sub-Saharan Africa 

By: Keith Campbell     21st April 2017 There is more interest in nuclear energy in sub-Saharan Africa than is generally realised. According to the World Nuclear Association (WNA), countries in the region which are individually planning or considering nuclear power are Ghana, Kenya, Namibia, Nigeria, Senegal, Tanzania, Uganda and... 

Interest in nuclear energy said to be rising across sub-Saharan Africa

By: Keith Campbell     21st April 2017 There is more interest in nuclear energy in sub-Saharan Africa than is generally realised. According to the World Nuclear Association (WNA), countries in the region which are individually planning or considering nuclear power are Ghana, Kenya, Namibia, Nigeria, Senegal, Tanzania, Uganda and... 

Fuzile confirms his 'imminent departure' from Treasury

By: Creamer Media Reporter      5th April 2017 Highly respected National Treasury director-general Lungisa Fuzile has confirmed his imminent departure from the department. Fuzile’s contract was due to end in May 2018. However, prior to the axing of former Finance Minister Pravin Gordhan on March 31, the director-general requested a... 

Eskom confident of its ability to implement new nuclear build programme 

By: Keith Campbell     29th March 2017 A Request for Proposals (RFP) for new nuclear power plants (NPPs) and a new research reactor could be issued by the middle of this year. This was reported by Eskom chief nuclear officer Dave Nicholls at the Nuclear Africa 2017 conference on Wednesday. In parallel, the process of obtaining the... 

2017 Budget Speech: Carbon Tax To Be Considered By Parliament

28th March 2017 The 2017 Budget Speech was delivered by Minister Pravin Gordhan on 22 February 2017. Although tax was a large focus in this year’s budget (as it usually is), the proposed carbon tax only received a cursory mention. The Minister confirmed that the proposed carbon tax and its date of implementation... 

F4SD wants municipal officials fired for not paying Eskom 

By: African News Agency      13th January 2017 Municipalities must fire officials responsible for failing to honour arrangements to pay their debts to Eskom, the Forum 4 Service Delivery (F4SD) said on Friday. “We are concerned that all residents,including those who pay for their electricity will be affected when Eskom starts to cut... 

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