insert_link Business / Economics South Africa nears compliance with the Financial Action Task Force’s financial crime requirements South Africa is close to meeting the Financial Action Task Force's requirements to combat financial crimes like money laundering and terrorism financing. In his first medium-term budget policy statement for the seventh administration, Finance minister Enoch Godongwana said only six items remain to be addressed by February next year, with 16 of the 22 requirements already fully or mostly completed: today31 October, 2024
insert_link South Africa OUTA Calls for Budget Focus on S.A’s Corruption and Economic Stability…. The Organisation Undoing Tax Abuse has urged Finance Minister Enoch Godongwana to prioritize anti-corruption efforts in the medium-term budget policy statement, advocating for reduced spending on non-core state-owned entities. Meanwhile, agriculture organization TLU SA expects the budget to focus on economic growth and stability in light of the changing political climate. TLU SA’s Bennie van Zyl emphasized the importance of enhancing security and economic confidence in South Africa. today30 October, 2024
insert_link South Africa S.A Finance minister Enoch Godongwana says regaining public trust in financial regulation requires deep structural reforms S.A Finance minister, Enoch Godongwana, says regaining public trust in financial regulation requires deep structural reforms, and a shift towards greater accountability, transparency, and public inclusivity. He addressed the South African Reserve Bank’s launch of the Corporation for Deposit Insurance yesterday. This is South Africa’s deposit insurance scheme, created and mandated by law to protect qualifying bank depositors in the unlikely event of their bank failing. Godongwana says trust is […] today26 April, 2024
insert_link South Africa Warning Issued on Two-Pot Retirement System Impacting South African Government Dependency Everest Wealth cautions that the two-pot retirement system may contribute to heightened government dependency in South Africa. The concern arises following Finance Minister Enoch Godongwana's announcement that the system is anticipated to generate a five-billion-rand tax windfall for the government. Riaan Grobler, the head of advisory services at the firm, highlights the risk of frequent withdrawals diminishing long-term savings, potentially increasing reliance on social grants. He emphasizes the need for […] today23 February, 2024
insert_link South Africa ActionSA Criticizes Finance Minister’s Budget as Uninspiring and Continuation of ANC’s Misguided Priorities Opposition party ActionSA voices disappointment in SA's Finance Minister Enoch Godongwana's budget speech, labeling it as uninspiring and reflective of the ANC's misguided spending priorities. The party expresses particular concern over the decision to shift 150 billion rand from the South African Reserve Bank's Gold and Foreign Exchange Contingency Reserve Account, aimed at improving the country's fiscal prospects. ActionSA President Herman Mashaba asserts that the ANC has exhausted options after […] today22 February, 2024
insert_link South Africa South African Finance Minister Acknowledges Load-Shedding Impact, Advocates Energy Sector Reforms in Budget SA Finance Minister Enoch Godongwana addresses the critical issue of load-shedding, recognizing its widespread impact on South Africans, disrupting production, operations, and livelihoods. During the delivery of the last budget of the 6th administration, Godongwana emphasizes the need for energy sector reforms to ensure long-term energy security. today22 February, 2024
insert_link South Africa Load shedding & Transnet caused huge losses – SA Budget 2024 National Treasury plans to draw down from a special R500bn account for the first time to reduce debt and associated servicing costs over the next three years, according to the 2024 budget delivered by the finance minister on Wednesday February 21 2024. today21 February, 2024
