Latest News & Developments
treasury
Budget cuts force KwaZulu-Natal Health to cut projects amid R1. 7 Billion debt
The KwaZulu-Natal Health Department is set to cancel several projects to address a R1. 7 billion debt owed to service providers, as MEC Nomagugu Simelane-Mngadi outlines measures to manage the financial crisis.
ANC begins deliberations on revised Budget
The National Treasury has begun preparations for the upcoming budget, with Director-General Duncan Pieterse confirming that they will be saving costs.
ANC begins deliberations on revised Budget
The National Treasury has begun preparations for the upcoming budget, with Director-General Duncan Pieterse confirming that they will be saving costs.
Godongwana must resign, says EFF as Treasury scraps VAT hike
The EFF calls for the immediate resignation of the Minister of Finance and the Director-General of the National Treasury.
Just In: Finance Minister Enoch Godongwana scraps VAT hike
Finance Minister Enoch Godogwana is expected to introduce a revised version of the budget without VAT within the next few weeks.
EFF’s Omphile Maotwe advocates for 'apartheid tax' to safeguard vulnerable families from VAT hike
Amid rising tensions over fiscal policy, EFF Treasurer-General Omphile Maotwe calls for an 'Apartheid tax' on inherited wealth, arguing it is a fairer solution than the proposed VAT hike that disproportionately affects the poor.
Teachers march against austerity measures harming South African education
Teachers affiliated with Sadtu protest against government austerity measures, demanding better conditions and funding for education.
ActionSA, ANC to meet this week but budget talks ‘so far so good’ - Beaumont
ActionSA and ANC's agreement to scrap the VAT hike within 30 days highlights a significant step towards alleviating South Africa's budget crisis.
DA won't exit Government of National Unity over VAT controversy, Zille confirms
Helen Zille has confirmed the Democratic Alliance will remain within the Government of National Unity despite opposing the controversial VAT increase.
ANC ponders backing down on VAT hike
The ANC is under pressure to abandon its 0,5% VAT increase after they failed to convince parties to implement the increase.
ANC backflips on VAT hike amid rising opposition
The ANC is under pressure to abandon its 0,5% VAT increase after they failed to convince parties to implement the increase.
Treasury vs households: The fairness of South Africa's proposed VAT increase
South Africa's government proposes a VAT increase to address fiscal challenges, but experts warn it may disproportionately affect the poor and middle class, raising concerns about its impact on consumer spending and economic growth.
Is the VAT hike fair? Treasury vs household in South Africa’s tax debate
South Africa's planned staggered VAT increase from 15% to 16% is drawing criticism from economists and citizens alike, who argue that already-strained households will bear the brunt of the government's latest revenue-generating measure.
MK party slams ANC's R500 million spaza shop fund as 'political grandstanding'
The MK Party has condemned the ANC government's new R500 million Spaza Shop Support Fund as a reactive election ploy that fails to address the recent food safety crisis in township communities.
Zille warns Ramaphosa: Removing DA Ministers would end GNU
Helen Zille warns that President Ramaphosa's potential removal of DA ministers could spell the end of the Government of National Unity. What does this mean for South Africa's political landscape?
Political tensions rise as Budget narrowly passes with VAT Hike, set to be challenged in court
The Government of National Unity faces its biggest test as the narrowly-passed National Budget with its controversial VAT increase sparks political tension. With the DA heading to court and the rand weakening in response, what does this mean for South Africa's economic stability?
How South Africa's budget reallocations threaten cancer care
Budget reallocations in South Africa raise alarm bells for cancer patients as funds shift away from critical healthcare services. With only a fraction of necessary stem cell transplants being performed, thousands face dire consequences. What does this mean for the future of cancer care?
Concerns grow over South Africa's Budget consensus ahead of looming deadline
With the deadline for Finance Minister Enoch Godongwana's budget approaching, political tensions escalate as the ANC and DA clash over proposed VAT increases. Experts warn of severe consequences if consensus is not reached.
R12. 5bn in unpaid supplier invoices crippling small businesses as EC government leads debt crisis
Provincial governments are failing to pay R12. 46 billion in supplier invoices, with Eastern Cape responsible for nearly a third of this debt, according to National Treasury. This payment crisis is forcing small businesses to take out loans to survive, with many SMEs eventually shutting down due to cash flow problems caused by government non-payment.
R12. 5bn in unpaid supplier invoices crippling small businesses as EC government leads debt crisis
Provincial governments are failing to pay R12. 46 billion in supplier invoices, with Eastern Cape responsible for nearly a third of this debt, according to National Treasury. This payment crisis is forcing small businesses to take out loans to survive, with many SMEs eventually shutting down due to cash flow problems caused by government non-payment.
Power Shift | ANC may abandon DA for left-wing alliance to pass VAT increase
As the ANC faces opposition to its proposed VAT increase in the 2025 national Budget, political analysts warn of a potential leftward shift in South African politics. With key GNU partners like the DA rejecting the budget, the ANC is now courting the EFF, MK party, and ActionSA for support, potentially reshaping the country's political alliances and economic direction.
G20 Dialogue: South Africa's strategy to close the infrastructure funding gap
Deputy Minister David Masondo advocates for blended finance solutions to tackle a $1 trillion global infrastructure funding shortfall at the G20 Infrastructure Investors’ Dialogue in Pretoria.
FSCA confident South Africa will exit FATF greylist this year
FSCA officials express optimism about South Africa's potential removal from the FATF grey list, highlighting significant reforms in anti-money laundering and counter-terrorism financing frameworks.
Moody’s and Fitch see South Africa’s debt burden outpacing Budget forecasts
Credit ratings agencies Moody's and Fitch have challenged South Africa's National Treasury projections, warning that government debt will stabilise at higher levels than anticipated in the 2025 Budget. The agencies predict debt-to-GDP ratios could reach 80%, while political tensions within the GNU threaten budget implementation
Deputy Finance Minister calls for action on Africa's debt crisis at G20 meeting
Deputy Finance Minister Masondo urges immediate action to address Africa's escalating debt crisis, calling for collaborative solutions at the G20 International Financial Architecture Working Group Debt Side Event in Pretoria.