South Africa Archives - Page 39 of 81

Deputy President Says Government Is Collaborating with Development Bank to Aid Indebted Municipalities

S.A's Deputy president Paul Mashatile says the government is working with the Development Bank of Southern Africa to secure resources to assist municipalities that are in debt. Municipalities owe creditors 116.5-billion-rand, with 75.3-percent of this debt more than 90 days overdue. In turn municipalities in 2023/2024 were owed 339.9-billion-rand. Answering questions in the National Assembly yesterday, Mashatile said it is concerning that many municipalities are in financial stress:

1 November, 2024

Business / Economics

ActionSA criticizes 2024 mid-term budget promises

ActionSA says the 2024 mid-term budget fails to meet the government of National Unity’s promises. Party representative Alan Beesley welcomed increased SARS funding but criticised the 1.1-percent economic growth projection, saying it falls short of the needed three-percent. Beesley argues that government neglects economic stability, keeping a bloated cabinet while essential services like policing, healthcare, and education suffer. He labels the budget’s priorities as misplaced, calling for urgent focus on […]

31 October, 2024

South Africa

TLU SA Seeks Clarity on Medium Term Budget’s Impact on Agriculture

The South African agricultural organisation TLU SA says it wants clarity on whether the plans announced in the Medium Term Budget Policy Statement will genuinely meet the real needs of the economy and agriculture. TLU SA’s, Bennie van Zyl, says the focus of the government of national unity on inclusive growth and job creation is valuable, but the concern is that real challenges, such as corruption and mismanagement, are […]

31 October, 2024

Business / Economics

31 October 2024: Navigating Economic Shifts: Key Financial Updates from Namibia and Beyond

In recent developments, Finance Minister, Ipumbu Shiimi, has announced an extension of the country’s tax amnesty programme, now set to conclude on October 31, 2026. During his mid-term budget review presented in Parliament, Shiimi highlighted the overwhelming requests from various sectors to prolong this programme, which allows taxpayers to settle their full tax debts without incurring penalties or interest. This initiative is designed to enhance tax compliance and boost government […]

31 October, 2024

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:

31 October, 2024

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.

30 October, 2024

South Africa

Build One South Africa opposes any reductions in the education budget

Build One South Africa says it unequivocally opposes any reductions in the education budget and urges the government to identify alternative funding sources. This is as Finance minister Enoch Godongwana is set to deliver the Medium-Term Budget Policy Statement in Parliament today. BOSA president, Mmusi Maimane, says they have identified several sources from which to redirect at least 50-billion-rand in funds towards the education budget shortfall, and ensure teachers […]

30 October, 2024

South Africa

S.A Parliament to Act on Thabo Bester’s Prison Escape Findings

South Africa's Correctional Services Committee in Parliament will oversee remedial actions against individuals involved in Thabo Bester’s prison escape. This follows a briefing on the Public Protector's report, which highlighted failures by the Department of Correctional Services in handling Bester's escape from Mangaung prison in the Free State. Parliamentary legal adviser Bulelani Simani confirmed that they will ensure the department takes the necessary steps to address the issues raised […]

30 October, 2024

Africa

SA Works Minister says government needs to reform expanded public works programme

South Africa’s Public Works and Infrastructure Minister Dean Macpherson says the government needs to reform the Expanded Public Works Programme to ensure recipients are better paid through permanent jobs.

29 October, 2024