Business In The News South Africa

Treasury denies plot to replace PIC chief executive with Gupta associate

CAPE TOWN, September 14 – There were no “pre-conceived plans” to remove Public Investment Corporation (PIC) chief executive Dan Matjila, Deputy Finance Minister Sfiso Buthelezi said on Thursday. Buthelezi, who is also chairman of the PIC, was responding to media reports that Matjila would be removed at a board meeting on Friday and replaced with […]

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Gigaba urges tax practitioners to help combat illicit financial flows

JOHANNESBURG, September 11 – Finance Minister Malusi Gigaba has on Monday, urged South African tax practitioners to assist government in combating corruption, money laundering and illicit financial flows which deprive taxpayers their deserved benefits. Gigaba said that the tax revenues collected kept South Africa running, paying for social upliftment and poverty alleviation through grants and […]

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 […]

Business In The News South Africa

Spending on new finance management system frozen – DG Mogajane

PARLIAMENT, August 29 – Director General of Finance Dondo Mogajane on Tuesday, said he halted all payments in relation to the Internal Finance Management System earlier this month in response to dozens of adverse internal audit findings on the process. Mogajane also told Parliament’s watchdog Standing Committee on Public Accounts (Scopa) that he had ordered […]

In The News South Africa

Transport minister to meet aviation authorities on grounding of Zim aircraft

PRETORIA, August 19  – Transport Minister Joe Maswanganyi will meet all aviation entities of the transport department to discuss the grounding of an Air Zimbabwe aircraft which was unable to take off on Friday. The aircraft was grounded allegedly due to non-compliance with the South African civil aviation regulations, particularly the requirement of an operator […]

Business In The News South Africa

Gigaba sidesteps questions about Nene’s non-appointment to BRICS Bank

JOHANNESBURG, August 18 – Finance Minister Malusi Gigaba on Thursday distanced himself from the controversy surrounding the non-appointment of his predecessor, Nhlanhla Nene, to the New Development Bank, almost two years after the post was promised him. The  current acting head of the African Regional Centre of the New Development Bank is Tumisang Moleke, the […]

Business In The News South Africa

SA to probe data costs as a hindrance to small business – Gigaba

PRETORIA, July 24  – Finance Minister Malusi Gigaba on Monday said the South African government want ED to probe the cost of data and its limitations to doing business in the country, particularly for small and medium-sized enterprises. “We believe that further reforms in the telecommunications sector would be supportive of entrepreneurs and small businesses through reduction […]