Fiscal Policy

South Africa faces R800 billion debt repayment challenge

South Africa’s Finance Minister Enoch Godongwana (Reuters/Shelley Christians) South Africa could face a financial challenge as debt servicing costs are projected to consume up to 30% of the country’s tax revenue by 2030, according to the International Monetary Fund (IMF). The IMF estimates that South Africa may need to spend as much as R800 billion on debt repayments within the next seven years, exposing a growing strain on the country's […]

19 May, 2025 13

Business / Economics

Business Leadership SA says only way forward is to reduce state expenditure

BLSA CEO Busisiwe Mavuso at a press conference As South Africa awaits Finance Minister Enoch Godongwana’s re-tabling of the national budget on 21 May 2025, Business Leadership South Africa (BLSA) has urged the government to make bold economic decisions that stimulate growth and enable sustainable public spending. According to eNCA, BLSA CEO Busisiwe Mavuso said the government must show “political courage” by making difficult and potentially unpopular spending cuts, particularly […]

6 May, 2025 43

South Africa

OUTA Urges SA Finance Minister to Tackle Corruption in Budget Speech

In S.A, the Organisation Undoing Tax Abuse urges Finance minister Enoch Godongwana to prioritise the fight against corruption and financial mismanagement in next week’s revised budget speech. The organisation criticised the government for failing to tackle wasteful spending and poor financial management, which could improve the national budget by 500-billion-rand annually. OUTA CEO Wayne Duvenage expects meaningful changes in the upcoming budget:

6 March, 2025 67

South Africa

In South Africa, SARS Commissioner urges Strengthening Tax Collection, Not Hikes

South African Revenue Service Commissioner, says raising tax revenue should start with strengthening collection capacity, and not hiking taxes. Edward Kieswetter addressed a panel discussion at a G20 Finance Trackside event in Cape Town on Wednesday. Last week, Godongwana was unable to table the national budget, over disagreements within the government of national unity on a proposed two-percent value-added tax hike.

27 February, 2025 64

South Africa

SA Finance Minister Urges Global Action on Tax Reforms

S.A Finance minister says much more work still needs to be done to ensure all countries implement international tax reforms. Enoch Godongwana was speaking on the sidelines of the G20 Finance Ministers’ and Central Bank Governors’ meeting in Cape Town on Wednesday.

27 February, 2025 58

Africa

Botswana Holds Interest Rate Steady Amid Rising Inflation

Botswana’s central bank has maintained its monetary policy rate at 1.90% for the third consecutive meeting, the bank announced on Thursday says CNBCAfrica. Inflation rose to 2.5% in January, up from 1.7% in December, but remains below the Bank of Botswana’s preferred range of 3% to 6% in the medium term. The country’s economy, heavily reliant on diamond exports, faced a contraction last year due to weakened global demand for […]

21 February, 2025 25

South Africa

BOSA in S.A says Budget Delay Shows Chaos in Unity Government

Build One South Africa says the postponement of Finance minister Enoch Godongwana’s budget speech on Wednesday, demonstrated the chaos within the government of national unity. The budget was postponed for the first time since 1994 after cabinet members pushed back against a proposed two-percent value-added-tax hike. BOSA’s spokesperson, Roger Solomons, says the government has put the economy in jeopardy and transparency and clarity are now needed: Meanwhile, the unprecedented […]

20 February, 2025 107

South Africa

SA Union Criticizes Government for Neoliberal Policies

The South African Federation of Trade Unions says the government of national unity continues to champion neoliberal economic policies that actively undermine job creation. Saftu’s spokesperson, Newton Masuku, says ahead of Finance minister, Enoch Godongwana’s budget speech today, they are demanding an immediate reversal of austerity measures. Meanwhile, the Public Servants Association says it expects Godongwana to present a budget that prioritises economic growth, job security, and the strengthening […]

19 February, 2025 84

Business / Economics

In S.A, COPE Urges Godongwana to Prioritize Economic Growth in Budget

To South Africa now, where the Congress of the People is calling on Finance minister, Enoch Godongwana, to deliver a budget that prioritises heightened economic growth. COPE’s, Pake Dikgetsi, says they are warning that austerity measures targeting social services, while billions are lost to corruption will push the country further into a crisis Meanwhile, the GOOD Party Secretary-general, Brett Herron, says as things stand, around 18-million South Africans are poor […]

19 February, 2025 62