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Budget

Increased spend on economic development over medium term is modest, but intended to be potent
23rd February 2022 By: Marleny Arnoldi

Expenditure on economic development will increase at an average annual rate of 8.5% over the next few years, from R201-billion in 2021/22 to R256-billion in 2024/25, the National Treasury revealed... 


Treasury launches bounce-back support scheme for SMEs
23rd February 2022 By: Marleny Arnoldi

Finance Minister Enoch Godongwana has announced that the National Treasury will launch a new business bounce-back scheme to support small and medium-sized enterprises (SMEs) that remain in distress... 


Carbon Tax Phase 1 extended to end-2025
23rd February 2022 By: Marleny Arnoldi

Government has extended the first phase of South Africa’s Carbon Tax by three years to December 31, 2025, in an effort to support businesses in their clean transition endeavours. This means that... 


An attendee pumping petrol
No fuel levy, RAF levy increases for 2022/23
23rd February 2022 By: Marleny Arnoldi

There will be no increase in either the general fuel levy or the Road Accident Fund (RAF) levy in 2022/23. The National Treasury has, instead, turned its focus to providing an overall R5.2-billion... 


An SAA aircraft
Minister reiterates ‘tough love’ approach to SOE fiscal dependence
23rd February 2022 By: Marleny Arnoldi

Finance Minister Enoch Godongwana has reiterated his commitment to clamp down on State-owned entities (SOEs) that are draining the fiscus with bailouts. Delivering his Budget 2022 speech on... 


Finance Minister Enoch Godongwana
Godongwana says ‘tide is turning’ but mulls new fiscal anchor to fully restore sustainability
23rd February 2022 By: Terence Creamer

Finance Minister Enoch Godongwana insists South Africa’s fiscal sustainability tide is turning but also signalled on Wednesday that government is considering the introduction of a new “fiscal... 


An image of Eskom's head office
Godongwana urges Eskom to sell assets as he confirms R88bn in new support
23rd February 2022 By: Terence Creamer

Finance Minister Enoch Godongwana confirmed that Eskom will receive a further R88-billion in government support until 2025/26 and that a comprehensive debt solution was still being explored for the... 


An image of solar panels, wind turbines and power pylons
Govt signals reduction or elimination of guarantees for REIPPPP projects
23rd February 2022 By: Terence Creamer

A government study is currently under way to explore alternative support for the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), the National Treasury states in its... 


 	A photo of Terence Creamer
Budget 2022 highlights
23rd February 2022 By: Creamer Media Reporter

Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the highlights of Finance Minister Enoch Godongwana's maiden Budget speech. 


Be mindful not to interpret 2021 economy windfall as long-term prosperity – Roux
22nd February 2022 By: Donna Slater

Ahead of Finance Minister Enoch Godongwana’s budget speech on February 23, University of Stellenbosch Business School economist Andre Roux says it would be “premature and foolhardy” to interpret... 


An image of Rosemary Anderson
Fedhasa hopeful tourism, hospitality industry will get more than footnote mention in budget speech
21st February 2022 By: Donna Slater

Hospitality industry representative body the Federated Hospitality Association of South Africa (Fedhasa) reports that South Africa’s tourism and hospitality industry hopes to receive greater... 


Govt, Stats SA encourage South Africans to participate in census
17th February 2022 By: Donna Slater

Government and Statistics South Africa (Stats SA) are encouraging anyone within the borders of South Africa to cooperate with census field workers and representatives as Stats SA performs the 2022... 


A photo of a sugar cane farmer holding a crop of sugar cane
Sugarcane farmers receive R60m in premium price payments
31st January 2022 By: Darren Parker

Sugarcane farmers received about R60-million worth of premium price payments on January 31 as agreed by the Small-Scale Grower Masterplan Task Team in accordance with the process laid out in the... 


Finance Minister Enoch Godongwana
Godongwana to table 'inaugural' budget on 23 February
20th January 2022 By: News24Wire

Finance Minister Enoch Godongwana will table the national budget on 23 February, 2022. The ministry of finance on Thursday issued an advisory - highlighting that this would be the minister's... 


Rand facing Covid-19, political risks in 2022 – DG Capital
11th January 2022 By: Donna Slater

Although the rand ended 2021 “on the back foot” at R15.89/$, the Omicron variant of Covid-19 will remain a significant unknown in the financial market for 2022 as it is proving to be more... 


Municipalities spend 21.5% of R521.3bn budget in the first quarter
10th December 2021 By: Donna Slater

The National Treasury reports that, on aggregate, municipalities spent 21.5% (R111.9-billion) of the total adopted expenditure budget of R521.3-billion for the first quarter of the 2021/22... 


Photo of Terence Creamer
Medium-term budget
11th November 2021 By: Terence Creamer

Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the key highlights from Finance Minister Enoch Godongwana's maiden mini-Budget, the spending pressures ahead... 


Minerals Council welcomes focus on structural reforms in MTBPS
11th November 2021 By: Creamer Media Reporter

The country requires a continued focus on stabilising the nation’s public finances and, most importantly, the critical need to implement more aggressive structural and institutional reforms that... 


Finance Minister Enoch Godongwana
Godongwana describes commodity windfall as temporary as he holds consolidation line
11th November 2021 By: Terence Creamer

Finance Minister Enoch Godongwana indicated on Thursday that government regarded the revenue windfall that had arisen as a result of higher commodity prices as temporary and confirmed that fiscal... 


Debt servicing costs contribute huge chunk of medium-term expenditure
11th November 2021 By: Marleny Arnoldi

Government’s rising debt service costs, at about R1-trillion over 2022/23 to 2024/25, is crowding out spending on service delivery functions. Debt service costs will, on average, consume 21c of... 


Eskom power lines
No immediate Eskom debt solution, as Minister outlines ‘tough love’ stance on SOEs
11th November 2021 By: Terence Creamer

Finance Minister Enoch Godongwana offered no new insight in his maiden address to lawmakers into how government intended approaching the issue of Eskom’s R400-billion debt burden, which has been... 


Agri SA hopes MTBPS will help address structural, SOE challenges
10th November 2021 By: Schalk Burger

Agricultural industry organisation Agri SA says the Medium Term Budget Policy Statement (MTBPS) to be delivered by Finance Minister Enoch Godongwana on November 11 should address structural... 


R1.5bn allocated to assist businesses affected by July civil unrest
20th October 2021 By: Donna Slater

Money pooled by the Department of Trade, Industry and Competition (DTIC), the Industrial Development Corporation (IDC), the National Empowerment Fund and the Solidarity Fund to address disruption... 


A photo of a concrete reservoir under construction
Reservior awaits commissioning
15th October 2021 By: Darren Parker

A 25 Mℓ reservoir on Dann road in Glen Marais, Kempton Park, in Gauteng, has still not been commissioned, despite being completed in November 2018 at a cost of about R48-million. Almost three years... 


Clear understanding between govt, business needed to boost economic recovery – Mavuso
4th October 2021 By: Donna Slater

Little can be done to drive an economic recovery without a clear understanding between business and government, says Business Leadership South Africa CEO Busi Mavuso, who joined other business... 


Global economy to face several headwinds going into second half – Fitch Solutions
29th September 2021 By: Donna Slater

Despite the global economy having performed strongly in the first half of the year, global economic activity has peaked and is starting to face several headwinds, says financial risk management,... 


Botswana, Namibia outline efforts towards green bonds, sustainable stock exchanges
28th September 2021 By: Donna Slater

After South Africa, Namibia, through its Namibian Stock Exchange, is the second African country to issue a green bond after signing up to the United Nations’ (UN’s) sustainable stock exchanges... 


Green bonds provide balance to traditional investment vehicles
27th September 2021 By: Donna Slater

Compared with traditional impact investment vehicles, which tend to be private equity, green bonds provide a “nice balance” in achieving a desired investment impact, environment, social and... 


Municipality in support of niche and light industry
10th September 2021

According to Knysna Planning and Development MMC Mncedisi Skosana, the local leadership has been investigating ways of diversifying the area’s economic drivers and contributors. 


Infrastructure upgrades for eThekwini municipality
10th September 2021

Consulting engineers Bosch Projects and financial institution Bosch Capital – members of the Bosch Holdings group of companies – work closely with municipalities nationally to assist with upgrading... 


Failure to heed warnings about a disease like Covid-19 a bigger risk than the disease itself – Whitfield
24th August 2021 By: Donna Slater

The major risk posed by Covid-19 is not the disease itself, but instead humankind’s inaction to heed calls that such an event could lead to the crippling of global economies and other systems,... 


DTIC opens R3.75bn relief package for businesses affected by civil unrest
11th August 2021 By: Donna Slater

Eligible businesses can now apply for loans under the R3.75-billion economic recovery support package, announced by Trade, Industry and Competition Minister Ebrahim Patel a fortnight ago to assist... 


S&P not planning immediate rating actions as a result of civil unrest
27th July 2021 By: Donna Slater

Ratings agency Standard & Poors (S&P) Global Ratings does not expect to take any immediate rating actions in the wake of the mid-July civil unrest that affected KwaZulu-Natal and parts of Gauteng.... 


Panel discussion at AFSIC Investing in Africa event
Investment event targets S Africa and Germany
23rd July 2021 By: Halima Frost

The annual Africa Financial Services Investment Conference – Investing in Africa event, known as AFSIC, organised by hosting company Africa Events Limited, will be held in London, UK, on October 11... 


BATTERY ENERGY STORAGE 
The aim of the project – successfully completed at the end of March this year – is to alleviate healthcare pressure at the hospital during the Covid-19 pandemic
Company provides energy storage for hospital
25th June 2021 By: Anna Moross

Solar energy company SustainSolar has completed the supply of its battery energy storage system to the Cecilia Makiwane Hospital in East London, in the Eastern Cape.  


Transformational investing a challenge for developing nations – investment panel
14th June 2021 By: Donna Slater

Africa presents a unique case for the type of transformational investing that is required for sustainability, to meet the United Nations’ Sustainable Development Goals (SDGs) and to achieve... 


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