In The News South Africa

Parliament says concerned about qualified audit on national student fund

JOHANNESBURG, October 8 – South Africa’s parliament said on Monday it was concerned that the National Student Financial Aid Scheme (NSFAS) had regressed and received a qualified audit. Chairperson of the legislature’s portfolio committee on higher education and training Connie September said it would have to be convinced why the NSFAS executive management and audit […]

Business In The News South Africa

National Treasury receives draft forensic report on Tegeta, China South Rail

PRETORIA, July 29 – The National Treasury has received the draft forensic report on alleged irregularities regarding Eskom’s coal supply contract with the Gupta-owned Tegeta and Transnet’s purchase of rail locomotives from China South Rail. “Further to the announcement of 4 August 2017, National Treasury has received the draft forensic report on the alleged irregularities […]

Business In The News South Africa

National Treasury aims to restore SA investment grade rating

PRETORIA, May 26 – Government will engage ratings agency S&P Global on their areas of concern, while taking steps to restore South Africa’s investment grade credit rating – a top priority, the National Treasury said. “Government notes S&P’s decision to affirm South Africa’s long-term foreign and local currency debt ratings at “BB” and “BB+” respectively, […]

In The News South Africa

Review on size of national government well underway – Ramaphosa

PARLIAMENT, May 25  – A team of government officials from various department had begun the process of reviewing the size of the South African Cabinet and national government departments, President Cyril Ramaphosa’s office said on Friday.   “A technical task team of officials from the following departments is currently reviewing the configuration of the national […]

In The News South Africa

KZNBudget: Province cuts R225mln in conditional grants for 2018/19

JOHANNESBURG, March 16 – KwaZulu-Natal MEC for Finance, Belinda Scott, on Friday announced widespread cuts in the provincial government’s conditional grants allocation over the next three years. Presenting her 2018/19 Budget, Scott said that the province’s portion of the conditional grant cuts over the Medium-Term Expenditure Framework were R225.7 million in 2018/19 and R1.3 billion in 2019/20, […]

Lead South Africa

I’ve cordial working relations with finance minister – Sars boss

PRETORIA, March 15 – Commissioner of the South African Revenue Services (Sars), Tom Moyane on Wednesday, said he had an amicable working relation with his new boss, Finance Minister Nhlanhla Nene who took over from Malusi Gigaba after a Cabinet reshuffle. “[Regarding] my relationship with the new minister and the deputy minister [Mondli Gungubele], I think the […]

Business In The News South Africa

Black Business Council tries to intervene on behalf of VBS Mutual Bank

JOHANNESBURG, March 12 – The Black Business Council (BBC) said on Monday that it notes with serious concern events that culminated in the placing of the troubled VBS Mutual Bank (VBS) into curatorship by the South African Reserve Bank (SARB), and that it was engaging all relevant stakeholders to find an amicable solution. SARB Governor Lesetja Kganyago announced on […]