insert_link South Africa S.A’s Mashatile Says Treasury May Cut Budgets to Settle State Debt to Municipalities S.A's Deputy president Paul Mashatile says the National Treasury is considering cutting budgets of departments that owe municipalities to settle debt. In August, Finance minister Enoch Godongwana revealed that organs of state collectively owe municipalities 18.6-billion-rand for rates and taxes. In Gauteng alone, the state had a debt of 3.5-billion-rand by the end of July, with provincial government departments accounting for most of the debt. Mashatile told the National Council […] today6 December, 2024
insert_link Namibia Auditor-General Issues Qualified Opinion on Mariental Municipality’s Financial Statements The Auditor-General's report on the Municipality of Mariental for the financial year ending June 30, 2023, has issued a qualified opinion on its financial statements. The report identifies discrepancies in accounting for bulk purchases of water and electricity, resulting in misstatements of approximately 2.4 million Namibian dollars for water and 11.4 million for electricity due to reliance on payment-based rather than accrual-based accounting. Despite these issues, the Auditor-General affirms that […] today31 October, 2024
insert_link Africa Africa’s debt crisis needs a bold new approach: expert outlines a way forward By Danny Bradlow, University of Pretoria It hasn’t been easy for African states to finance their developmental and environmental policy objectives over the past few years. Recent events suggest that the situation may be improving. For the first time in two years, three African states have been able to access international financial markets, albeit at high interest rates. Kenya, for example, is now paying over 10% compared to […] today22 February, 2024
