Business Lead South Africa

BRICS banks should not look at SA in isolation of its neighbours – Mboweni

CAPE TOWN, April 1 – The New Development Bank (NDB) cannot separate South Africa from its neighbours when deciding on extending development loans, Finance Minister Tito Mboweni said on Monday. Speaking at the fourth annual meeting of the NDB at the Cape Town International Convention Centre, Mboweni said countries in the Southern African Development Community […]

In The News South Africa

Politicians to get no pay increases, government to offer early pensions

PARLIAMENT, February 20  – Politicians and senior executives at state-owned enterprises can forget about pay increases this year, as Finance Minister Tito Mboweni announced measures to curb the government wage bill. “As a gesture of goodwill, members of Parliament and provincial legislatures and executives at public entities will not be receiving a salary increase this […]

Business Lead South Africa

SA flags infrastructure investment plans of R526 billion

CAPE TOWN, February 20 – South Africa’s government has infrastructure investment plans amounting to R526 billion over the next three years and is stepping up its build programme by partnering with the private sector, development finance institutions and multilateral development banks for funding, the National Treasury said on Wednesday. President Cyril Ramaphosa’s government said last […]

Business Lead South Africa

Mboweni says talks with ratings agencies were ‘very difficult’

PARLIAMENT, February 20 – Finance Minister Tito Mboweni on Wednesday described the National Treasury’s talks with international ratings agencies on the eve of his first budget as “very difficult”. “Treasury officials had very, very difficult conversations with the ratings agencies,” he told a media briefing about two hours before he tabled the budget. “They were […]