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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... 

Moody's ratings review of South Africa to come after next week's budget – Treasury

By: Reuters     16th October 2018 South Africa expects Moody's to release its ratings review after next week's medium term budget policy statement (MTBPS), Dondo Mogajane, the director general of the National Treasury said on Tuesday. Mogajane said he met Moody's representatives at an international financial conference in Bali... 

Gauteng Rapid Rail Integrated Network extension project, South Africa

By: Sheila Barradas     22nd June 2018 The development of Gautrain 2 is “being held back” by the National Treasury. 

VAT rate rise ‘not desirable’, but ‘unavoidable’ to rebuild public finance integrity

By: Terence Creamer     21st February 2018 Finance Minister Malusi Gigaba confirmed the much-anticipated increase in the value-added tax (VAT) rate from 14% to 15% in his maiden Budget speech to Parliament on Wednesday, describing the increase as “unavoidable if we are to maintain the integrity of our public finances”. The hike was... 

Cesa to focus on strengthening engineering industry through effective leadership  

By: Anine Kilian     30th January 2018 Industry body Consulting Engineers South Africa (Cesa) has set effective, ethical leadership and embracing the fourth industrial revolution as its priorities for this year. Delivering his presidential message, in Johannesburg, on Tuesday, Cesa president Neresh Pather said the organisation would... 

Sarb appoints new MPC adviser

By: Megan van Wyngaardt     16th January 2018 The South African Reserve Bank (Sarb) has appointed Fundi Tshazibana an adviser to the bank’s governors, effective February 19, making her the seventh member of the bank’s Monetary Policy Committee (MPC). With 17 years of experience in public policy analysis and formulation, Tshazibana has worked... 

Denel ends controversial Asia joint venture

By: Keith Campbell     8th September 2017 South Africa's State-owned Denel defence industrial group has exited the Denel Asia joint venture (JV) company. This was announced on by Denel acting Group CEO Zwelakhe Ntshepe, addressing the recent media briefing about the company's financial results, at the group's head office in Centurion,... 

Govt denies rumours of 'super presidency' taking over budget process

By: News24Wire      17th August 2017 Communications Minister Ayanda Dlodlo on Wednesday downplayed suggestions that government wants to create a so-called super presidency by having a hand in budgetary processes. During a media briefing following the Cabinet meeting, Dlodlo said Cabinet approved the mandate paper for the 2018 Budget. 

Hold my hand, you silly girl

By: Terry Mackenzie-hoy     21st July 2017 On the November 26, 2011, I wrote: "After a recent tour, Public Enterprises Minister Malusi Gigaba has said the December 2013 deadline for the Medupi power station, in Lephalale, Limpopo, to start delivering power still stands. 'I have no intention of allowing any delays to the target of December... 

Opinion: Renewables IPP programme an example of impeccable governance

7th April 2017 It is important to regularly pause, reflect and appreciate a job well conceived and well executed. Back in 2010, the South African government took the bold decision to create a legislative and practical environment in which the Department of Energy could procure power generated by private... 

Handover meeting between Gordhan and Gigaba postponed

By: African News Agency      3rd April 2017 National Treasury on Monday announced that the handover meeting between outgoing Finance Minister Pravin Gordhan and incoming Minister Malusi Gigaba had been postponed. In a terse statement on Twitter, Treasury said the meeting was postponed to allow the South African Revenue Services (Sars) to... 

New top tax bracket emerges amid revenue underperformance 

By: Terence Creamer     22nd February 2017 Finance Minister Pravin Gordhan announced a new top personal income bracket of 45% for taxable incomes above R1.5-million in his 2017 Budget address as part of tax proposals designed to raise the additional R28-billion required to sustain the fiscal consolidation framework promised in previous... 

Umgeni Water requires R200-billion to fix backlog

By: Bloomberg     17th February 2017 The water board serving South Africa’s second most-populous province said it needs at least R200-billion to address a service backlog, almost double the country’s total budget for water and sanitation for the three years through 2019. “The real headache is where the funds are going to come from,”... 

Wind farm completed in Eastern Cape

16th December 2016 The Nojoli wind farm, in the Eastern Cape, has been completed and connected to the grid by multinational renewable-energy corporation Enel’s subsidiary Enel Green Power RSA (EGP RSA).  

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