Treasury reports quicker turnaround in govt’s payment of suppliers
A new report by the National Treasury has shown a year-on-year improvement in government’s payment of invoices to service providers in the 2021/22 financial year.
The report investigated national and provincial departments’ non-compliance with payment of supplier invoices within 30 days, considering the damaging impact late payment has on socioeconomics in South Africa.
Treasury requires departments to submit 30 days exception reports to the relevant treasuries by the seventh day of each month, with details of the number and rand value of invoices paid after 30 days from the date of receiving invoices, the number and rand value of invoices that are older than 30 days which remained unpaid, and the reasons for late and nonpayment.
The number of invoices paid after 30 days by national and provincial departments in the 2021/22 financial year amounted to 401 691 invoices, valued at R33.7-billion.
The number of invoices older than 30 days and not paid by national and provincial departments at the end of March this year amounted to 67 862, valued at R6.1-billion.
There was a 63% improvement in the number of invoices older than 30 days and not paid at the end of the 2021/22 financial year, which amounted to 134 invoices valued at R5-million, compared with 358 invoices valued at R426-million reported at the end of the 2020/21 financial year.
There was, however, a noticeable regression in the number of invoices paid after 30 days by national departments and a regression in the number of invoices older than 30 days.
Treasury continues to urge national and provincial governments to pay their suppliers in a more timely manner and recommends disciplinary action against officials who fail to comply with these requirements.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
