Business In The News South Africa

Public Servants Association pushes against raid of government employees pensions

JOHANNESBURG, December 6 – The Public Servants Association (PSA) on Wednesday, said that it would continue with it’s court action to secure control over public servants’ pension investments following the alleged failure by Finance Minister Malusi Gigaba to respond to the union’s demands. The PSA said that Gigaba had failed to respond to its letters in […]

In The News South Africa

No contradiction in nuclear deal statements – Gigaba

DURBAN– There were no contradictions in statements made by Treasury and energy minister David Mahlobo regarding the country’s contentious nuclear procurement deal, according to finance minister Malusi Gigaba, speaking at a business breakfast in Umhlanga on Tuesday morning, just a week after tabling his mid-term budget.   “At times when people speak, you don’t get the detail that […]

Business In The News South Africa

Samwu not buying sale of government’s Telkom stake

PARLIAMENT, October 26 – The South African Municipal Workers Union (Samwu) on Wednesday, said that it was opposed to the plan by government to sell its Telkom shares and was standing against the privatisation of state assets. Finance Minister Malusi Gigaba confirmed in Parliament during his Medium-Term budget Policy Statement (MTBPS) that government will dispose of a […]

In The News South Africa

ANC welcomes medium-term budget

PARLIAMENT, October 26 – The African National Congress (ANC) on Wednesday, welcomed the medium-term budget policy statement tabled by Finance Minister Malusi Gigaba, saying it would closely monitor the implementation of measures contained in the policy document. “The low economic growth means that there will be a R50.8 billion shortfall in tax revenue, and we […]

Business In The News South Africa

Gigaba to put brakes on tender corruption

PARLIAMENT, October 26 – Finance Minister Malusi Gigaba put his foot down on tender corruption and looting of state-owned companies. Delivering his maiden Medium-Term Budget Policy Statement in Parliament on Wednesday, Gigaba said the fight against fraud, corruption and abuse of supply chain management system was being extended to cover both public and private sector corruption. […]

In The News South Africa

Major cost pressure on higher education

PARLIAMENT, October 25 – Despite South Africa’s ruling party, the African National Congress, earlier this year vowing that free higher education could become a reality as early as 2018, Wednesday’s medium-term budget policy statement (MTBPS) revealed glaring gaps in funding for the country’s students.     According to the MTBPS, the National Student Financial Aid […]