Business In The News South Africa

Gigaba announces MTBPS date, says Treasury will manage government debt

JOHANNESBURG, September 11 – Finance Minister Malusi Gigaba on Monday announced that he would deliver his inaugural Medium-Term Budget Policy Statement (MTBPS) next month on October 25. The MTBPS is a government report providing information on the country’s economic context, fiscal objectives, and spending priorities over a three-year period. “We will outline what we will […]

In The News South Africa

Cabinet calls for any deliberate wrongdoing at National Treasury to be punished

CAPE TOWN, September 1 – Cabinet on Friday called for any deliberate wrongdoing in the development of government’s Integrated Financial Management System to be punished. The call flowed from Cabinet’s regular fortnightly meeting and followed a week of intense politicking over audit weaknesses identified in the project, which began 15 years ago and carries an […]

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 […]