Parliament

 

February’s Main Budget Could Be A Total ‘Bloodbath’ Judging Gigaba’s Mini-Budget

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The biggest day in Malusi Gigaba’s political career so far was strongly contrasted yesterday by a vehemently negative market reaction. While being honest in his assessment of the state of the South African economy, the Finance Minister provided little hope that he has a plan to halt the bleeding. And as Matthew Lester points out below, if Gigaba remains Finance Minister until..
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February’s Main Budget Could Be A Total ‘Bloodbath’ Judging Gigaba’s Mini-Budget

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Matthew Lester The biggest day in Malusi Gigaba’s political career so far was strongly contrasted yesterday by a vehemently negative market reaction. While being honest in his assessment of the state of the South African economy, the Finance Minister provided little hope that he has a plan to halt the bleeding. And as Matthew Lester points out below, if Gigaba remains Finance..
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‘Pay back the money! She is a thief!’ ANC chants at De Lille during council meeting

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Patricia De Lille on Thursday said she has not stolen a single cent, insisting she had enough money to even consider lending money to the City of Cape Town – at a low interest rate – to deal with its water crisis. “I don’t need money from anyone,” she said ahead of her address during..
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Junk status looms after mid-term budget fails to inspire confidence – It is not looking good for SA

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Economists have warned that South Africa could be in line for a credit downgrade to junk status – possibly before the end of the year. Their fears come in light of Malusi Gigaba’s mid-term budget speech, delivered to parliament on Wednesday. “It is not in the public interest, nor is it in the interests of..
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Gigaba’s first test: Can he ace the mid-term budget?

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Finance Minister Malusi Gigaba is in an unenviable position. In his maiden budget – today’s medium-term budget policy statement – he must confront, among other things, low economic growth, a tax revenue hole big enough to fly a plane through and the budgetary consequences of struggling state-owned enterprises. These issues are some of the chief..
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Dudu Myeni finaly fired as SAA chair

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Dudu Myeni has been removed from the board of South African Airways in what could be a range of changes made to the leadership of the embattled airline. The Mail & Guardian understands that Myeni will be replaced by businessperson JB Magwaza who has been appointed as the new board chairperson. It appears that members..
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SASSA IRREGULAR EXPENDITURE GROWS TO R1.4 BILLION

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In Sassa’s latest financial statements tabled in Parliament on Friday, the Auditor General says the agency did not take effective steps to prevent the irregular expenditure. The Auditor General has deemed the R43 million spent by the South Africa Social Security Agency (Sassa) on so-called work streams to have been irregular. In Sassa’s latest financial..
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National Treasury captured by Finance Minister Gigaba?

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Officials in the Treasury accused the finance minister, Malusi Gigaba, of hijacking the treasury by running a parallel administration. This he did by appointing about 20 confidants in his office. In this public attack on Gigaba, it is claimed that he decided to delay a forensic investigation into Eskom contracts with Tegata. The allegation also..
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What is the ANC learning from the private sector

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Within the past few days, former president Kgalema Motlanthe said it would be good if the ANC was voted out of office (good for the ANC, that is), the outspoken MP Makhosi Khoza resigned from Parliament and from the ANC, and the Bank of Baroda won a court case to allow it to stop being..
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