In The News South Africa

Gigaba warns of wider consequences of an SAA default

 PARLIAMENT, August 5 – Finance Minister Malusi Gigaba on Friday voiced frustration at the slow pace at which South African Airways (SAA) was taking steps to stem its financial losses and warned that defaulting on its debt payments could trigger a wider reaction from state-owned entities’ lenders. Gigaba said one example was the fact that the technically-bankrupt […]

Business In The News South Africa

Chamber of Mines says it was not consulted on Gigaba’s 14-point action plan

JOHANNESBURG, July 14 – The Chamber of Mines has welcomed National Treasury’s inclusive growth action plan, but raised concerns that the plan does not address the critical challenges facing the mining sector, and that the Chamber was not consulted before the plan was developed. This comes after Finance Minister Malusi Gigaba on Thursday unveiled a 14-point action […]

Business In The News South Africa

Government has no intention of amending Constitution on SA Reserve Bank’s mandate

CAPE TOWN, July 5 – Finance Minister Malusi Gigaba has instructed legal counsel to institute judicial review proceedings in a bid to have Public Protector Busisiwe Mkhwebane’s findings and remedial action on Absa Bank and the SA Reserve Bank (Sarb) set aside, his office announced on Wedneday afternoon. In her report titled “Alleged Failure to […]

Business In The News South Africa

Sars says it targets R1.265-trillion revenue collection for 2017

JOHANNESBURG, July 4 – The South African Revenue Services (Sars) said on Tuesday, that some media have incorrectly inflated its revenue collection target for 2017. This comes after reports that Sars aimed to collect over R1.6 trillion this tax season, though warning that the technical recession could have an impact. Sars Commissioner Tom Moyane, together with […]