Business In The News South Africa

National Treasury introduces bill to govern conduct of financial institutions

JOHANNESBURG, December 11 – The National Treasury on Tuesday announced the publication of a bill that aims to strengthen the regulation of how the financial services industry treats consumers. The Conduct of Financial Institutions (COFI) Bill is a follow up to the Financial Sector Regulation (FSR) Act of 2017, which established the Prudential Authority managing […]

In The News South Africa

SA municipalities expect budget deficit of R4.7 bln in 2018/19 – National Treasury

JOHANNESBURG, November 15 – The revenue for South African municipalities is expected triose to R431.5 billion in 2019/20 and R462.5 billion in 2020/21 from a budgeted R404.6 billion for 2018/19, the National Treasury said on Thursday. In a statement on the medium term revenue and expenditure framework for municipalities, the Treasury said total municipal expenditure in […]

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 […]