Finance

 

Replacing South Africa’s finance minister, or his deputy, would carry a heavy cost

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Many see the decision by South Africa’s governing African National Congress (ANC) to send the disgraced former CEO of the power utility Eskom to parliament as the precursor to another attack on the National Treasury and to remove finance minister Pravin Gordhan. The decision to give Brian Molefe a seat in the country’s parliament has..
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SAA to remain under intense government oversight – Gordhan – Budget 2017

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SAA will remain under intense government oversight, Finance Minister Pravin Gordhan said in his report contained in National Treasury’s 2017 Budget Review, which he tabled in Parliament on Wednesday. Referring to recommendations made by the Select and Standing Committees on Finance on the 2016 Revised Fiscal Framework, Gordhan said the committees recommend that National Treasury..
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Gordhan ups social spending and squeezes the rich

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Despite trying circumstances, Finance Minister Pravin Gordhan announced on Wednesday that the budget introduces new tax measures that target the rich and that social spending is prioritised to favour the poor. In his highly anticipated budget speech, Gordhan announced a new top personal income tax rate of 45% for those with taxable incomes of more..
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Conspiracy, disinformation and Zuma-Gordhan fight loom over budget

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A year after President Jacob Zuma began feuding with his Finance Minister Pravin Gordhan over control of the nation’s purse strings, the conflict appears to be coming to a head. When he presents his annual budget in Parliament on Wednesday, Gordhan will seek to keep state spending in check and fend off a junk credit..
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Mashaba ‘still pissed off’ – businessman Reddy on City Power investigation

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Mayor Herman Mashaba’s investigation into alleged corruption involving the city’s R1bn smart electricity meter tender is just petty politics, businessman Vivian Reddy said. Reddy is the owner of Edison Power which was awarded the billion rand tender to install smart meters throughout the municipality. The contract has been probed four times in the past by..
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ANC plans ‘constitutional revolution’ on land

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The government is planning a “constitutional revolution” to fast-track land reform, including considering expropriation without compensation. The ruling party also wants land reform to include restitution for “precolonial dispossession” before the 1913 Native Land Act came into force, and a cap on the amount of land an individual can own. With most South African land..
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The nuts and bolts of radical economic transformation

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At President Jacob Zuma’s second inauguration, he vowed that economic transformation would “take centre stage” during his last term of office. He promised that “the structure of the economy will be transformed through industrialisation, broad-based black economic empowerment and through strengthening and expanding the role of the state in the economy”. That the economy would..
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South Africa In Economic Breakdown: Zuma’s Grim Legacy In Charts – But His Friends Are Having Fun

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Jacob Zuma South Africans have become accustomed to heaving a collective sigh of relief as ratings agencies continue to stave off a ratings downgrade. But, South Africa’s ratings have moved close to sub-investment grade with President Jacob Zuma at the helm, as the graphs below indicate. The rand’s value has declined steadily, too, with a few..
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The Truth And Lies Of Zuma’s SONA 2017

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Amidst unprecedented security measures, South Africa’s President Jacob Zuma delivered his tenth State of the Nation Address on 9 February 2017. We fact-checked his speech. Claim: “To date, nearly 7 million households have been connected to the grid and now have electricity.” Verdict: Correct South Africa’s development indicators showed that 6,340,321 households had been connected..
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A MUST READ: Zuma’s Secret Blueprint For Total Power – Lily Gosam

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An ambitious plan to redraw provincial boundaries, control the treasury and conclude mega-deals to keep the ANC under Zuma control was hatched  * Lily Gosam is a pseudonym  INTRODUCTION In 2009 [president] Jacob Zuma secured the highest office in the land, in large part due to the composition of South Africa’s 1994 provincial map. And..
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