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Budget

Judgment in favour of power utility welcomed
25th August 2023

State-owned power utility Eskom in July said it was pleased with the Johannesburg High Court judgment dismissing with costs, the interdict application by green energy supplier G7 Renewable Energies... 


A solar and battery powered microgrid developed and built by Eskom at the Swartkop dam in the Northern Cape
Microgrid roll-out gaining traction
25th August 2023 By: Halima Frost

After the successful commissioning of State-owned power utility Eskom’s third microgrid, at the Swartkop dam, in the Northern Cape, the company aims to launch its next two microgrids at Nomalengena... 


NBCRFLI parties agree to extend main collective agreement for another year
23rd August 2023 By: Darren Parker

The Road Freight and Logistics Industry Bargaining Council (NBCRFLI) parties have agreed to extend the main collective agreement for another year, starting from March 1, 2024, until February 28,... 


Naheem Ebrahim Essop appointed deputy pension funds adjudicator
28th July 2023 By: Cameron Mackay

Finance Minister Enoch Godongwana has appointed Naheem Ebrahim Essop as a deputy pension funds adjudicator. The appointment is for a term of three years and is effective from the date of assumption... 


IFC investment in Metier to boost growth of mid-market companies in sub-Saharan Africa
24th July 2023 By: Cameron Mackay

To support the growth of mid-market companies in sub–Saharan Africa, World Bank Group subsidiary the International Finance Corporation (IFC) on July 24 announced an equity investment of $25-million... 


An African child with cupped hands drinking water from a tap
US helps fund water projects
7th July 2023

The United States Agency for International Development (USAID) announced last month that it has committed $3-million to the African Water Facility (AWF). The funding will support the preparation of... 


a black and white photo of an adult male hand under a tap with sparse water dripping out if it
Urbanisation placing pressure on water infrastructure
7th July 2023 By: Halima Frost

Africa’s already limited water infrastructure will likely face increased strain as multiple countries experience rapid urbanisation, says market research company Frost & Sullivan Africa consultant... 


London investment company issues $800m Africa-focused bond
6th July 2023 By: Marleny Arnoldi

London-headquartered investment company Mainbridge has issued an $800-million Africa-related bond offering on the Frankfurt Stock Exchange (FSE). The bond is structured to appeal to long-term... 


A large cement manufacturing plant with green landscape behind.
Infrastructure projects critical to sector’s growth
9th June 2023 By: Halima Frost

The cement and concrete industry is stagnant and the only avenue for rejuvenation is the implementation of some of the infrastructure projects for which government has allocated over R900-billion,... 


A generic image of a table covered in plans drawings and contracts with male and female hands assessing the pages on the table.
Contracting makes for global debate
26th May 2023 By: Halima Frost

The question of whether engineering, procurement and construction (EPC) or engineering, procurement and construction management (EPCM) is a preferred or advisable contracting strategy in the South... 


Gauteng Finance MEC Jacob Mamabolo
Gauteng treasury tables R818m budget, seeks to bolster financial management
23rd May 2023 By: Natasha Odendaal

The Gauteng Provincial Treasury on Tuesday tabled a budget of just over R818-million for the 2023/24 financial year, which it aims to use to ensure effective and efficient financial management in... 


Mozambique President Joachim Chissano, Zimbabwe President Emmerson Mnangagwa and African Development Bank president Dr Akinwumi Adesina
Zimbabwe President promises reforms ahead of August elections
17th May 2023 By: Darren Parker

Zimbabwe President Emmerson Mnangagwa has promised development partners and creditors that his government will implement reforms necessary for resolving the country’s nearly $8.3-billion debt and... 


Agriculture Minister Thoko Didiza
Didiza tables agri budget focused on turning dormant areas into ‘economic districts’
9th May 2023 By: Marleny Arnoldi

Agriculture, Land Reform and Rural Development Minister Thoko Didiza has tabled, in Parliament, a R17.2-billion for her department in the 2023/24 financial year, including transfers to provincial... 


Ten technical advisers appointed to support Gauteng municipalities
14th April 2023 By: Natasha Odendaal

The Gauteng Provincial Treasury (GPT) has appointed ten technical advisers to be deployed across various municipalities to enhance the financial management capacity in local government. Forming... 


An image of a cane field
Diversification opportunities set to crystallise industry
7th April 2023 By: Leah Shelene Asaram

Following the announcement that there will be no tax increase for the sugar industry in the 2023/24 and 2024/25 financial years, announced by Finance Minister Enoch Godongwana during his 2023... 


Global crisis forcing Africa to ‘grow up’, develop localised solutions – panel
20th March 2023 By: Donna Slater

Despite the Covid-19 pandemic creating a “perfect storm” for African countries with rising interest rates and an increase in the risk of sovereign default, the continent’s leadership generally has... 


Gauteng tables R493bn budget to support social services, township economy, energy crisis
9th March 2023 By: Natasha Odendaal

The largest share of Gauteng’s R493.4-billion over the medium-term expenditure framework (MTEF) is set to support social services, the township economy, job creation and the energy crisis, said... 


Business Unity South Africa CEO Cas Coovadia
Govt not working enough with private sector to address challenges
27th February 2023 By: Darren Parker

There has been insufficient meaningful interaction between government and the private sector, which has contributed significantly to the economic hardship that South Africa currently faces,... 


image of Econometrix director and chief economist Dr Azar Jammine
Business resiliency the reason South Africa’s economy is persevering – Jammine
24th February 2023 By: Donna Slater

Despite South Africa’s economy being “not a great environment” currently, economic consultancy Econometrix director and chief economist Dr Azar Jammine said South African business has shown typical... 


Business Leadership South Africa CEO Busi Mavuso
Mavuso, Ackerman question efficacy of ‘Mafia State’ to turn the economy around
23rd February 2023 By: Marleny Arnoldi

Realistically, South Africa will not see meaningful gross domestic product (GDP) growth within the next five years, Citadel Investment Services advisory partner and chief economist Maarten Ackerman... 


Solar panels being installed
Godongwana receives praise for energy incentives, but rising debt a concern
23rd February 2023 By: Schalk Burger

In response to the Budget Speech delivered by Finance Minister Enoch Godongwana on February 22, a number of organisation have lauded the incentives that were announced to help businesses and... 


Image of Finance Minister Enoch Godongwana
Mixed reactions to Godongwana’s Budget speech
23rd February 2023 By: Sane Dhlamini

Democratic Alliance Shadow Minister of Finance Dion George has criticised Finance Minister Enoch Godongwana’s Budget speech as a “missed opportunity” for failing to announce sound structural... 


Photo of Terence Creamer
Godongwana announces R254bn Eskom debt-relief package, with terms and conditions
22nd February 2023 By: Creamer Media Reporter

Engineering News editor Terence Creamer gives an overview of the 2023 Budget delivered by Finance Minister Enoch Godongwana, including the announcement of a R254-billion Eskom debt-relief package... 


A water tap
Water projects take centre stage in govt’s planned infrastructure spend
22nd February 2023 By: Marleny Arnoldi

The National Budget facility for infrastructure has approved municipal water infrastructure projects to the value of R3.7-billion. These projects are ready for implementation once the 2023... 


Soda cans
No increase in sugar tax for now
22nd February 2023 By: Marleny Arnoldi

Following heavy lobbying from industry bodies the Sugar Association of South Africa and South African Cane Crowers’ Association, government has decided to not increase the Health Promotion Levy... 


Petrol pumps
Carbon fuel levy for 2023/24 increases by 1c
22nd February 2023 By: Marleny Arnoldi

In line with the carbon tax increase that become effective on January 1, 2023, from R144/t to R159/t of carbon dioxide equivalent, the carbon fuel levy for 2023/24 will increase by 1c to 10c/l for... 


R&D business incentive to be extended by ten years
22nd February 2023 By: Marleny Arnoldi

Over the past three years, government has focused on measures to protect the tax base and reforms aimed at improving equity, efficiency, certainty and simplicity. Following a recent review of tax... 


TFR's operations
Sanral, Transnet, Denel among SOEs to receive fiscal support in 2023/24
22nd February 2023 By: Marleny Arnoldi

As State-owned entities (SOEs) continue to rely on government bailouts and dominate the guarantee portfolio of the fiscus, Finance Minister Enoch Godongwana has announced conditional in-year... 


Finance Minister Enoch Godongwana
Conditions linked to R254bn Eskom debt relief may lead to concessioning of coal plants
22nd February 2023 By: Terence Creamer

Conditions linked to R254bn Eskom debt relief may lead to concessioning of coal plants The R254-billion Eskom debt-relief package unveiled by Finance Minister Enoch Godongwana in his 2023 Budget... 


Solar panels on a roof
Govt aims to stimulate renewables investment with R9bn in tax incentives, reworked bounce-back scheme
22nd February 2023 By: Terence Creamer

South Africa’s 2023 Budget includes tax incentives worth R9-billion to support businesses and households invest in renewable energy, including rooftop solar, in a bid to offset the impact of... 


Bakery operations
Govt extends diesel fuel levy refund to foodstuff manufacturers
22nd February 2023 By: Marleny Arnoldi

To limit the impact of the energy crisis on food prices, government has decided to extend a diesel fuel levy refund to manufacturers of foodstuffs for a period of two years, effective from April 1,... 


Govt moots ‘stricter headcount management’ amid public service wage risk
22nd February 2023 By: Marleny Arnoldi

As negotiations over the increase in public sector wages in the 2022/23 financial year continues, Finance Minister Enoch Godongwana stated in his Budget speech in February 2022 that government... 


SBI lists issues impeding economic growth ahead of Godongwana budget
21st February 2023 By: Donna Slater

Ahead of the national budget, to be tabled on February 22, the Small Business Institute (SBI) has called on Finance Minister Enoch Godongwana to support small businesses and their employees,... 


South African money notes
Professor shines a sobering light on stakeholders’ expectations of the Budget
20th February 2023 By: Marleny Arnoldi

As multiple stakeholders have stated their wishes for what needs to be addressed and accounted for in the National Budget, come February 22, Stellenbosch Business School economist Professor André... 


Business Leadership South Africa CEO Busi Mavuso
BLSA lacks faith in Budget to make any impact
20th February 2023 By: Darren Parker

Business organisation Business Leadership South Africa (BLSA) CEO Busi Mavuso has said that no matter what financial salves Finance Minister Enoch Godongwana allocates to soothe South Africa’s... 


Investec says fiscal ratio risks loom in National Budget
17th February 2023 By: Marleny Arnoldi

Ahead of Finance Minister Enoch Godongwana’s delivery of the National Budget on February 22, banking and wealth management group Investec says it expects the Budget to remain focused on fiscal... 


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