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Budget

Image of Gauteng Finance MEC Jacob Mamabolo
Gauteng’s R500bn budget focuses on crime, township economy boost
5th March 2024 By: Natasha Odendaal

Gauteng’s Finance MEC Jacob Mamabolo on Tuesday tabled a provincial budget for Gauteng of R165.8-billion for the 2024/25 financial year, with a focus on fighting crime and boosting the township... 


Econometrix director and chief economist Dr Azar Jammine
Budget shows an economy treading water, not collapsing – Jammine
23rd February 2024 By: Darren Parker

Although Finance Minister Enoch Godongwana’s Budget, delivered on February 21, seemed somewhat prudent, Econometrix director and chief economist Dr Azar Jammine said there was not much in it to... 


A farm with irrigation equipment
Innovative interventions needed to turn around underperforming growth trajectory – Agbiz
22nd February 2024 By: Schalk Burger

Against the backdrop of a profoundly challenging macroeconomic environment where South Africa’s economy is expected to continue underperforming, averaging at 1.6% growth in the next three years,... 


Minerals Council CEO Mzila Mthenjane
Fiscal discipline in Budget, but 5% infrastructure expenditure increase ‘barely positive’ – Minerals Council
22nd February 2024 By: Schalk Burger

Finance Minister Enoch Godongwana maintained focus on fiscal discipline and balancing the need to address socioeconomic challenges facing the country, industry organisation Minerals Council South... 


DBSA’s new Project Vumela financing instrument to help municipalities fund bulk infrastructure investment
21st February 2024 By: Darren Parker

Development finance institution Development Bank of Southern Africa (DBSA) has introduced a new financing instrument called Project Vumela, which blends municipal revenue sources with financing... 


Coal being transported to port
Mining tax revenue down by 50.4% y/y
21st February 2024 By: Darren Parker

With various commodity prices taking a nosedive over the past year, windfall tax gains from high commodity prices over the preceding two years have come to an end, resulting in a sharp fall in... 


Illegal miners
Criminal Asset Recovery Fund, not fiscus, to fund SANDF’s war on illegal mining
21st February 2024 By: Darren Parker

The Portfolio Committee on Defence and Military Veterans has claimed that the deployment of the South African National Defence Force (SANDF) in support of the South African Police Service to... 


A conference room
Global corporate tax minimum to be implemented this year
21st February 2024 By: Darren Parker

In an effort boost tax revenue going forward, government will be implementing the long-awaited global corporate tax minimum in the coming year, Finance Minister Enoch Godongwana revealed upon the... 


Petrol pumps
No change to fuel levies this year, Godongwana says
21st February 2024 By: Darren Parker

Government has decided once again to leave the general fuel levy and Road Accident Levy Fund unchanged, resulting in tax relief of about R4-billion. This was announced at the release of Finance... 


Power lines
RFP for private transmission investment to be launched in July
21st February 2024 By: Terence Creamer

The South African government will release a request for proposals (RFP) in the coming months seeking private sector investment into a pilot electricity grid infrastructure project. The National... 


70 out of 72 municipalities approved for Eskom debt relief
21st February 2024 By: Darren Parker

Out of 72 municipality applications for State-owned Eskom debt relief, 70 have been approved, Finance Minister Enoch Godongwana revealed in his 2024 Budget on February 21. The 72 applicants... 


Finance Minister Enoch Godongwana
Godongwana draws down R150bn from gold and forex account to reduce borrowings and debt-service costs
21st February 2024 By: Terence Creamer

Finance Minister Enoch Godongwana unveiled a far-reaching reform in relation to government’s treatment of the Gold and Foreign Exchange Contingency Reserve Account (GFECRA), which will result in... 


Finance Minister Enoch Godongwana
Reserves drawdown is wildcard in South Africa’s election budget
19th February 2024 By: Bloomberg

Enoch Godongwana needs to conjure an annual budget that balances spending pressures stemming from this year’s elections with the South African National Treasury’s commitment to stabilise its... 


Rand Currency
S Africa's budget to consolidate more slowly, rate cuts delayed – poll
15th February 2024 By: Reuters

South Africa's budget deficit will narrow at a slower pace in coming years than October estimates predicted, put off course by poor mining tax receipts, according to a Reuters poll which also... 


South African flag and R2 coin
Sacci business confidence index shows incremental improvements
8th February 2024 By: Darren Parker

The South African Chamber of Commerce and Industry (Sacci) has revealed that its business confidence index (BCI) for December last year reached a notable 112.1, marking the second-highest level for... 


There is no substitute for economic growth, Deloitte says ahead of 2024 Budget
1st February 2024 By: Natasha Odendaal

A tight balance is expected for this year’s National Budget as South Africa’s woes continue; however, a significant, or fundamental, raising of taxes is not expected, with a tightening hold on... 


World Bank, DBSA report highlights local SDG requirements
1st February 2024 By: Sabrina Jardim

Closing South Africa’s Sustainable Development Goals (SDGs) gap will require significant infrastructure and related spending, informed by the right objectives and relevant metrics, a joint study by... 


Finance Minister Enoch Godongwana
National Treasury confirms 21 February as budget day
24th January 2024 By: News24Wire

South Africa’s national budget day has been confirmed for 21 February at 14:00, according a statement by the National Treasury on Wednesday. Finance Minister Enoch Godongwana will "announce... 


Finance Minister Enoch Godongwana
National Treasury pencils in 21 February as budget day
22nd January 2024 By: News24Wire

South Africa’s national budget day is currently scheduled for 21 February, according to National Treasury, which added that the date still needed final confirmations. This year’s event will be... 


Lesetja Kganyago said the profits on the account exist on paper unless they are realised by selling the underlying assets, warning that using them could diminish the country’s reserves and potentially leave it more vulnerable to future shocks
South Africa eyes half of $27bn contingency funds to cut debt
18th December 2023 By: Bloomberg

South Africa’s National Treasury is considering withdrawing as much as half of the R497-billion of contingency reserves held by the central bank to help reduce the government’s debt load or fund... 


A glass glob perched on green moss signifying a global drive to a greener economy
COP 28 to host fossil fuels debate
1st December 2023 By: Halima Frost

This year’s Conference of the Parties to the United Nations Framework Convention on Climate Change, referred to globally as COP 28 and being held from November 30 to December 12 in Dubai in the... 


Image of Gauteng Finance MEC Jacob Mamabolo
Gauteng e-tolls debt proposal to be submitted by mid-December
28th November 2023 By: Natasha Odendaal

The Gauteng provincial government (GPG) will table a “concrete proposal” to national government by December 15 outlining plans to pay off the province’s portion of the long-contested e-tolls debt... 


Finance Minister Enoch Godongwana
SA debt stress: Govt scrambles to borrow more money
10th November 2023 By: News24Wire

The South  African government, which is being forced to sell ever more debt than planned because it’s spending more than it makes, is unlikely to reverse this spiral any time soon - especially not... 


Finance Minister Enoch Godongwana
Business says Medium-Term Budget lacks clear fiscal plan
2nd November 2023 By: Thabi Shomolekae

Business noted on Thursday that while Finance Minister Enoch Godongwana outlined government’s strategy to avoid a full-blown fiscal crisis and systemic risks to the economy, it is concerned that... 


Finance Minister Enoch Godongwana
Medium-term budget in a nutshell: It’s going to hurt
1st November 2023 By: News24Wire

Treasury has been forced to make painful revisions to the latest Medium-Term Budget Policy Statement, which updates government’s spending plans over the next three years, after its expectations in... 


Eskom's Megawatt Park
Municipalities owing Eskom R56.8bn apply to participate in debt write-off scheme
1st November 2023 By: Terence Creamer

The National Treasury has confirmed that a total of 67 municipalities, which collectively owe Eskom R56.8-billion, or 97% of the municipal arrears debt of over R58-billion owed to the utility at... 


No plan to review use of Gold and Foreign Exchange Contingency Reserve Account
1st November 2023 By: Terence Creamer

The National Treasury has confirmed that there is no immediate plan for a review of the Gold and Foreign Exchange Contingency Reserve Account (GFECRA), which some economists have argued should be... 


A locomotive operated by TFR
Transnet urged to engage before presenting a R100bn bail-out ‘invoice’
1st November 2023 By: Terence Creamer

Finance Minister Enoch Godongwana has not “closed the door” on Transnet’s move to secure a reported R100-billion in balance-sheet support to assist with its recently released turnaround plan.... 


An EV being charged
Details of incentives for new energy vehicles in February
1st November 2023 By: Terence Creamer

Finance Minister Enoch Godongwana confirmed on Wednesday that government intended implementing tax and expenditure measures to support the domestic automotive sector’s transition to new energy... 


CDE executive director Ann Bernstein
CDE lays out path to economic rescue ahead of MTBPS
30th October 2023 By: Darren Parker

Ahead of Finance Minister Enoch Godongwana’s November 1 Medium Term Budget Policy Statement (MTBPS), policy think tank the Centre for Development and Enterprise (CDE) has set out what it thinks... 


Springboks singing national anthem
Godongwana’s MTBPS must show same fighting spirit as Boks – BLSA
30th October 2023 By: Darren Parker

Following on the heels of the Springbok’s fourth Rugby World Cup win, Business Leadership South Africa (BLSA) CEO Busi Mavuso has said the Medium-Term Budget Policy Statement (MTBPS), set to be... 


Finance Minister Enoch Godongwana
Tax shortfall lumps South Africa with no-good-news Budget
30th October 2023 By: Bloomberg

South African Finance Minister Enoch Godongwana is in a bind as he reworks the nation’s budget in the face of lower-than-expected tax revenue and pressure from the ruling party to bolster... 


Magazine Cover Image
Inside the Energy One Stop Shop and its drive to fast-track electricity projects
27th October 2023 By: Cameron Mackay

The Energy One Stop Shop (EOSS), officially launched by Trade, Industry and Competition Minister Ebrahim Patel on July 27, is in the ramp-up phase of a four-stage process aimed at fast-tracking the... 


University of the Free State Chancellor, Johannesburg Business School (JBS) Professor of Practice, Bidvest Group and SBV Services chairperson and World Economic Forum Community of Chairpersons member Bonang Mohale
Education key to changing the fortunes of South Africans
4th October 2023 By: Darren Parker

University of the Free State Chancellor, Johannesburg Business School Professor of Practice, Bidvest Group and SBV Services chairperson and World Economic Forum Community of Chairpersons member... 


Saice suggests PPPs as the solution to govt’s constrained fiscus
15th September 2023 By: Cameron Mackay

The South African Institution of Civil Engineering (Saice) suggests an alternative solution that will assist the National Treasury as it grapples with the country’s constrained fiscus. In a letter... 


An aerial view of the Westgate Shopping centre with teh rood almost completely covered in a solar photovoltaic panel array
Firm pushing for investment in energy projects
8th September 2023 By: Halima Frost

Having realised the potential of particularly solar energy in the renewable-energy sector, independent investment and advisory firm Bravura aims to implement additional in-house capabilities to... 


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