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Release coal docs at your own peril, Guptas warn Treasury

By: News24Wire      25th August 2016 Four days before the Guptas’ business chiefs ambushed Finance Minister Pravin Gordhan on a radio station, their company Tegeta threatened Treasury over a report into coal contracts with Eskom. The threat occurred when Democratic Alliance MP David Maynier submitted a request under the Promotion of... 

South African assets sink after police summon Finance Minister

By: Reuters     24th August 2016 South African assets slumped on Wednesday a day after an elite police unit summoned Finance Minister Pravin Gordhan over an investigation into a suspected rogue unit of the tax service, fuelling speculation that there was a plot to oust him. Gordhan and other former officials at the South African... 

Govt’s ETI shows R6bn employment incentives distributed

By: Natasha Odendaal     19th August 2016 Preliminary data shows claims totalling over R6-billion under the Employment Tax Incentive (ETI), introduced by the Employment Tax Incentive Act 26 of 2013, between its implementation on January 1, 2014, and March 31, Finance Minister Pravin Gordhan said. Responding to Parliamentary questions by... 

Chamber disputes veracity of Unctad underinvoicing claim 

By: Martin Creamer     25th July 2016 The Chamber of Mines of South Africa (CoM) on Monday noted with concern the report published by the United Nations Conference on Trade and Development (Unctad) in which it was asserted that South Africa’s commodity exports were being underinvoiced. Prominent international news media have carried... 

Huge Brexit bonanzas for AngloGold, Gold Fields – Moody’s

By: Martin Creamer     27th June 2016 As a result of Britain deciding to exit the European Union, two South African gold mining companies are heading for huge free cash bonanzas, ratings agency Moody’s said on Monday. AngloGold Ashanti is set to generate an additional $120-million in free cash flow in the second half of 2016 and Gold... 

Bank of England, offshore centres holding SA gold worth R75bn 

By: Martin Creamer     23rd June 2016 The Bank of England and other official sector institutions at offshore bullion centres are holding a large percentage of South Africa’s gold. At last count, these holdings totalled four-million ounces of South Africa’s gold, worth nearly $5-billion. 

SA won't end up like Venezuela – Gordhan

By: News24Wire      27th May 2016 South Africa will not turn into “another Venezuela”, Finance Minister Pravin Gordhan said in Parliament on Thursday. “We are miles away from Venezuela. We are a well-managed fiscus,” Gordhan said at the end of a long debate on South Africa's economy. 

Call for snap debate on attack against Gordhan

By: News24Wire      19th May 2016 The Democratic Alliance (DA) on Thursday called for a snap debate on what it called the political assault against Finance Minister Pravin Gordhan and the National Treasury. DA shadow minister of finance David Maynier said in a statement that he has sent a request to Speaker of the National... 

Zuma says high unemployment is part of apartheid legacy 

By: African News Agency      17th May 2016 South African President Jacob Zuma on Tuesday told Parliament that rampant unemployment had its roots in apartheid because the white regime denied black people education. In response to a question from Democratic Alliance (DA) finance spokesperson David Maynier, Zuma replied that joblessness was... 

DA proposes R9.52bn amendment to Gordhan's budget

By: News24Wire      16th May 2016 The Democratic Alliance (DA) has announced that it will propose a R9.52-billion adjustment to Finance Minister Pravin Gordhan's 2016/17 budget on Tuesday. In a statement on Monday, the DA said it would propose 399 amendments to fund six proposals, aimed at improving the lives of people in South... 

Presidency slams Gordhan arrest rumours

By: African News Agency      16th May 2016 The Presidency on Sunday slammed media reports on the “imminent arrest” of Finance Minister Pravin Gordhan. “The presidency has noted the story in the Sunday Times alleging an imminent arrest of the minister of finance,” President Jacob Zuma’s spokesperson Bongani Ngqulunga said in a statement. 

PIC lost over R100bn when Zuma fired Nene – CEO 

By: News24Wire      10th May 2016 The funds that invest money with the Public Investment Corporation (PIC) lost more than R100-billion when President Jacob Zuma fired former finance minister Nhlanhla Nene on 9 December 2015, said Daniel Matjila, CEO of the organisation. The PIC appeared before the standing committee on finance on... 

Guptas' Dubai move puts Treasury in spotlight

By: News24Wire      10th May 2016 National Treasury is facing a transparency test, according to David Maynier, Democratic Alliance (DA) spokesperson on finance. Maynier said he still hasn’t had word on whether the Financial Intelligence Centre (FIC), which falls under National Treasury, was conducting an investigation into the... 

Gordhan gets tough on government procurement 

By: News24Wire      4th May 2016 The way the government buys its goods and services is getting a shake-up aimed at saving billions, Finance Minister Pravin Gordhan said on Wednesday. This includes saving a targeted R1.4-billion by reviewing the government's top 100 contracts, saving a possible R1.8-billion by having a closer... 

Govt to intervene as Oakbay attempts to restore bank accounts

By: Natasha Odendaal     21st April 2016 Minister in the Presidency for Planning, Monitoring and Evaluation Jeff Radebe has insisted that, despite the appointment of three Ministers to engage the banks that cut ties with private Gupta-linked Oakbay Investments amid allegations of State capture, government was not interfering in matters... 

Opposition calls arms deal report a predictable whitewash

By: News24Wire      21st April 2016 The Seriti commission’s finding that there was no evidence of government corruption in the 1999 arms deal amounted to a predictable but disappointing whitewash, opposition politicians said on Thursday after President Jacob Zuma made it public in a televised address. Zuma said the commission found... 

While Brics Bank snores Nene scores another gig

By: News24Wire      21st April 2016 Former finance minister Nhlanhla Nene has been appointed as a resident adviser to Thebe Investment Corporation, it was announced on Thursday. This comes after Allan Gray appointed Nene to its board on Monday. Nene, who was fired by President Jacob Zuma in December 2015, has been on “gardening... 

Deputy finance minister cautions against PIC investment in shaky parastatals

By: African News Agency      12th April 2016 Deputy Finance Minister Mcebisi Jonas on Tuesday said the National Treasury had cautioned the Public Investment Corporation (PIC) against investing in state-owned enterprises that were struggling to get their finances into order. “We have not blacklisted any but we are saying that when they are... 

Gordhan: Sars can legally conduct criminal probes

By: News24Wire      8th April 2016 The South African Revenue Service (Sars) has a legal mandate to perform enforcement and criminal investigations, Finance Minister Pravin Gordhan said on Friday. In a written response to Democratic Alliance MP David Maynier, Gordhan said according to information provided to him by Sars there are 1... 

Hawks probing corruption charges against Gupta brothers, Zuma’s son

By: African News Agency      30th March 2016 The Directorate for Priority Crime Investigation (Hawks) on Wednesday confirmed that the unit’s anti-corruption team is investigating the charges brought by the Democratic Alliance (DA) against President Jacob Zuma’s son Duduzane and two members of the Gupta family, who have been accused of... 

Hawks to investigate Guptas, Duduzane Zuma

By: News24Wire      24th March 2016 The Hawks will be investigating the Gupta family as well as President Jacob Zuma's son, Duduzane, they said on Wednesday. Hawks spokesperson Robert Netshiunda said the case opened by the Democratic Alliance (DA) last week had been received by the crime fighting unit on Tuesday. 

Investigate the Guptas - opposition parties

By: News24Wire      17th March 2016 Following revelations that the Guptas were allegedly influencing government appointments, the African National Congress (ANC) needed to consider whether President Jacob Zuma resigned or the party recalled him, Democratic Alliance (DA) leader Mmusi Maimane said on Wednesday. In a notice of motion... 

Govt not working together to avoid junk status – DA  

By: News24Wire      15th March 2016 Despite Finance Minister Pravin Gordhan attempts to reassure South Africans that the government is doing all it can to avoid a credit downgrade to junk status, the real problem is that government itself is not working together towards this objective, according to Democratic Alliance (DA) shadow... 

Treasury hits out at Jonas, Duarte allegations

By: News24Wire      14th March 2016 National Treasury on Monday strongly denied that any of its senior officials could have been the source of a report in a Sunday newspaper, which insinuated that Deputy Secretary General of the ANC Jessie Duarte had offered Deputy Minister of Finance Mcebisi Jonas the position of finance minister... 

Budget debate will go ahead without Gordhan

By: News24Wire      9th March 2016 A debate about Finance Minister Pravin Gordhan’s budget speech will take place in the National Assembly this afternoon, but in the finance minister’s absence. Gordhan and the CEOs of top companies arrived in the United Kingdom (UK) on Tuesday and will travel to the US later this week with the aim... 

Gordhan to miss Budget debate, opposition DA unhappy

By: African News Agency      8th March 2016 South Africa’s Minister of Finance Pravin Gordhan is set to miss the debate on the Budget scheduled to take place on Wednesday in Parliament as he is abroad on an investor roadshow. National Treasury confirmed on Monday that Gordhan was visiting the United Kingdom and United States this week for... 

DA calls for independent judicial commission to probe SARS ‘rogue unit’

By: African News Agency      1st March 2016 The Democratic Alliance (DA) on Monday called on President Jacob Zuma to appoint an independent judicial commission of inquiry to investigate all the allegations surrounding the so-called “rogue unit” within the South African Revenue Service (Sars). In a statement attributed to David Maynier, DA... 

Gordhan didn't do enough to avert junk rating – DA

By: News24Wire      25th February 2016 Minister of Finance Pravin Gordhan has not done enough to avoid a sovereign ratings downgrade in South Africa, according to the Democratic Alliance (DA). DA shadow minister of finance David Maynier said in a statement after Gordhan's speech on Wednesday that rating agencies are monitoring several... 

No plans to sell off bigger stake in Telkom – Cwele

By: African News Agency      23rd February 2016 The South African government has no plans to sell off further stakes in Telkom, Telecommunications Minister Siyabonga Cwele said on Tuesday amid calls from the opposition for the parastatal to be fully privatised. “Telkom has already been privatised. There is no such discussion to dilute the... 

DA says pressure on Zuma after IMF downgrades growth forecast 

By: African News Agency      19th January 2016 Democratic Alliance finance spokesman David Maynier on Tuesday said economic policy failures were in part to blame for the International Monetary Fund’s drastically revised growth forecast for South Africa. He said there was now more pressure on President Jacob Zuma to deal with this in his state... 

DA ‘whitewash’ comments on arms deal report riles Presidency 

By: African News Agency      4th January 2016 The Presidency has described the criticism by the DA of the final report of the Commission of Inquiry into Allegations of Fraud, Corruption, Impropriety or Irregularity in the Strategic Defence Procurement Package as “unwarranted” and “irresponsible”. The Arms Procurement Commission report... 

Costs of nuclear remains classified – Treasury 

By: African News Agency      13th October 2015 While South Africa’s National Treasury has completed most of the preliminary work into the country’s proposed nuclear build programme, all the details, including the cost to the fiscus, remained classified, MPs were told on Tuesday. Briefing Parliament’s standing committee on Finance, Treasury... 

DA demands insight into Treasury’s papers on nuclear power programme

By: African News Agency      2nd October 2015 The Democratic Alliance said on Thursday it had written to Finance Minister Nhlanhla Nene to demand copies of planning documents setting out the financing and feasibility of the government’s nuclear power expansion programme. “The minister has suggested up until now that National Treasury’s work... 

Treasury looking into infrastructure funding bottlenecks‚ says Nene

By: RDM News Wire      14th September 2015 The Treasury was engaging with various stakeholders to unlock any funding bottlenecks for infrastructure projects‚ Finance Minister Nhlanhla Nene said on Monday. The aim is to facilitate more investment in public infrastructure. Mr Nene emphasised‚ however‚ that he was not planning to compel... 

Nuclear the cheapest; subsidises renewables‚ says minister 

By: RDM News Wire      3rd September 2015 Nuclear energy is the cheapest source of energy in South Africa‚ and is subsidising renewable energy‚ says Energy Minister Tina Joemat-Pettersson‚ on another day of heated parliamentary debate as ministers refused to lift the veil of secrecy surrounding the proposed nuclear new build deal.... 

Joemat-Pettersson says nuclear build will be affordable 

By: African News Agency      1st September 2015 South Africa was firmly committed to adding to its nuclear energy capacity but would only sign an agreement with another country as a supplier if it was affordable and in line with local procurement rules, Energy Minister Tina Joemat-Pettersson told MPs on Tuesday. “How are we going to reduce our... 

DA wants AG to probe defence tenders

By: Sapa     29th August 2014 The DA has called on Auditor General Kimi Makwetu to investigate allegations of irregularities in the awarding of tenders worth more than R200-million by the defence department. "The dodgy defence force air transport tender must be investigated," said Democratic Alliance MP David Maynier in a... 

SA spy satellite issue resurrected

By: Keith Campbell     31st January 2014 The Kondor radar surveillance satellite designed and built by the Russian company NPO Mashinostroyenia (NPO Mash) that was launched into orbit in June last year and which has been linked in the South African media to South Africa’s Project Flute, reportedly started in 2006, to acquire such a... 

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