National Treasury

Eskom debt albatross hangs over plans to stabilise budget

Finance minister Enoch Godongwana faces the task of incorporating a credible debt relief plan for the stricken state power utility in the national budget while stabilising government finances as record blackouts weigh on the economy. The minister said in October the state will absorb between one- and two-thirds of Eskom’s[…]

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Cosatu vows to push back against proposed wage cuts

Trade union federation Cosatu has labelled the 2020 Budget “provocative”, saying that instead of a clear diagnosis of the problems facing SA, National Treasury attempted to “dump the bill for industrial-scale looting on public servants”. A key item in the Budget was a proposal to cut the state’s wage bill[…]

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Prasa’s Spanish supplier paid R75m ‘consulting’ fees to Montana’s ‘friend’

The Spanish manufacturer of Prasa’s controversial Afro4000 locomotives failed to disclose payments of over R75m made to a former colleague and “friend” of the embattled state-owned company’s former CEO, after National Treasury asked the European rail company about its financial ties with local “subcontractors” and “partners”. News24 can today reveal[…]

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Cabinet reshuffle didn’t weaken the rand: Gigaba

Finance Minister Malusi Gigaba on Thursday denied that the recent Cabinet reshuffle which saw him catapulted to head up National Treasury had weakened the rand against other currencies. This comes after the rand went in freefall on 30 March, plummeting four percent to R13.29 to the US dollar, following the[…]

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Civil society groups to protest against cabinet reshuffle

Civil society groups will gather outside the offices of the National Treasury in Pretoria on Monday morning. This in protest against what they call attacks on the Treasury and State capture. The protest follows President Jacob Zuma’s cabinet reshuffle which included axing of Finance Minister Pravin Gordan and his deputy[…]

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Economic impact of NPA summons of Gordhan

As the focus within South Africa has largely been directed toward the on-going #FeesMustFall protests, chaos within National Treasury appears to have taken a backseat. Over the past few months, embattled finance minister, Pravin Gordhan has been fanning flames of his alleged contravention of the National Strategic Intelligence Act and[…]

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Dignity Dreams project keeps girls in school

The recent debate by National Treasury around the feasibility of VAT exemptions on sanitary products called to the fore the fact that thousands of impoverished women who are unable to afford sanitary products, battle to go about their lives.  In response, one organization has headed their call and developed a[…]

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Monthly payouts on retirement funds

Government’s proposed retirement reforms will encourage individuals to receive their retirement payouts monthly and not as a once-off lump sum, the National Treasury said on Wednesday. This would ensure pension fund members were protected and could retire comfortably, spokesman Xolisa Dodo said. “Government is proposing important measures to lower charges[…]

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