The Mayor of Ekurhuleni apologizes to Tembisa people for failing to address them on time.
Tembisa residents have received an apology from Ekurhuleni Mayor Tania Campbell for her tardiness in reaching out to them. Residents of Tembisa went on the rampage earlier in the week, torching government buildings and vehicles. The demonstrations resulted in the deaths of four persons. They have been protesting what they consider to be excessive rates and taxes.
ANC’s free electricity, water bites ruling DA in broke Ekurhuleni
Ekurhuleni municipality, at the centre of violent protests this week, has for years been providing a limited amount of free electricity and water to all households, including those that can afford to pay. This was cut last month after the Treasury’s intervention and was one of the main issues that ignited the protests in Thembisa this week.
Sanity has prevailed around withdraw of pension funds Find out how much you are allowed to withdraw
The coronavirus pandemic has negatively affected the livelihoods of many people across the world. A number of employees took pay cuts during hard lockdowns. Some had no income when they were not reporting for duty. A lot of pension fund members have been requesting access to their retirement monies to help relief some of the pressure they are experiencing.
Cosatu ready to battle over access to retirement funds
Cosatu is ready to wage a war with the retirement industry over the access to pension funds. In terms of the draft legislation, the amount accumulated before the coming into effect of the legislation, envisaged to be in March next year, will be regarded as “vested” and will not be accessible for immediate withdrawal except on resignation.
Transnet becomes latest state entity to beg for funds
Transnet CEO, Portia Derby, has hinted that the parastatal needs government's help to support expansion and maintenance plans. Derby’s comments come as the government has vowed to close the taps on funding for errant state-owned enterprises (SOEs), with finance minister Enoch Godogwana vowing to only provide funding to SOEs for debt repayments.
Worsening social conditions have raised demand for healthcare industry South Africa
The government was planning to institute the biggest fiscal shock to the public health system in 25 years, designed as a reduction in the salaries of healthcare workers, he said, referring to deep expenditure cuts announced by the Treasury in the February budget. Consolidated government health expenditure will rise by just 0.2% in nominal terms over the medium term, which in February represented a 4.4% cut in real terms as the Treasury projected at that stage that inflation would average 4.6% over the period.
Gordhan talks about load shedding and it is not good news at all
The ongoing power cuts have forced Public enterprises minister Pravin Gordhan to issue a statement. Disgruntled employees downed tools about a week ago and launched a wildcat strike in support of their demand for above-inflation increases. This led to Eskom implementing the worst power cuts in four years, going up to stage 6.
WATCH | Eskom debt is unsustainable and we've got to step in, says finance minister Godongwana
According to the Minister of Finance, Enoch Godongwana, Eskom's debt is unsustainable, and the National Treasury needs to take action. He was delivering these remarks on the periphery of the ANC's sixth policy conference. During the address that President Cyril Ramaphosa gave on the topic of resolving South Africa's energy crisis, he stated that the Treasury was working to finalize a sustainable solution to Eskom's R400 billion debt problem.
Sassa-Payment For New Cycle Of SRD R350 Grant Will Be Paid From Wednesday
In today's update of Sassa's latest news-Minister of Social Development Lindiwe Zulu is worried about the beneficiaries of the R350 grant, which has not yet received payment, but has gone through many processes before distributing the R350 grant. It states that it needs to be completed.
ANC working on solution for R400Bn eskom debt
This is the first time that the national Treasury is doing technical work in order to examine what a debt write-off of Eskom will mean for the fiscus, and on what terms this can be done in a credible manner. Treasury is also exploring options for debt forgiveness, including having the South African government assume the Eskom debts from state-owned electricity company, and the Policy Discussion Paper released Tuesday raised the possibility of selling off Eskoms coal-fired plants.
Zikalala defends KZN relief application
KZN premier Sihle Zikalala has defended the KZN relief application. Zikalala said that while Treasury indicated that short-term immediate humanitarian relief was available, these funds were earmarked for disasters that may occur in the whole country in financial 2022/2023. “We wish to confirm that there is no outstanding application from the province either for short-term humanitarian support or the long-term reconstruction.” He said submissions were made on May 9 for all damaged infrastructure.
Plans for independent power transmission firm hobbled by Eskom debt burdens
Plans for a separate power transmission company hobbled by Eskom’s debt burdens have also been set back by the utility’s financial woes. The South African power transmission sector is divided into two segments: transmission and distribution. The transmission sector provides physical infrastructure such as power lines, substations, and transformer yards to transmit electricity from power generating stations to the end-users.
Russia lurches towards default as the US ends a key bond payment exemption
The possibilities of Russia tumbling into a default rose Wednesday after the US Treasury finished a key assents exception. The Treasury said in February it would permit Russian sovereign bond installments to contact US financial backers, notwithstanding the extreme authorizations slapped on Moscow. Be that as it may, the Treasury's Office of Foreign Assets Control said Tuesday night it would allow the exception to terminate at 12.01 a.m.
Treasury fills 2 top positions that were vacant for years
Two top situations in the National Treasury, which have been empty for quite some time, are to be filled, Cabinet declared on Thursday. Serve in the Presidency Mondli Gungubele said Cabinet had supported the arrangement of Shabeer Hamid Khan as Accountant General and Mendoe Ntswahlana as Chief Procurement Officer.
The Treasury Set To Outline The Fuel Crisis
https://www.jacarandafm.com/news/news/treasury-outline-fuel-price-plan-october-masondo/ Masondo advised the Standing Committee on Appropriations and Select Committee on Appropriations in Parliament on Wednesday. On Tuesday, the Energy Department declared that petroleum will go up by somewhere in the range of R2.33 and R2.43 a liter in June. Diesel will cost somewhere in the range of R1.07 and R1.10 more a liter while enlightening paraffin will increment by R1.56 pennies a liter.
Ismail Has Been Appointment As Acting Director of Treasury.
https://ewn.co.za/2022/06/08/ismail-momoniat-appointed-as-acting-director-general-of-treasury?utm_source=dlvr.it&utm_medium=twitter JOHANNESBURG - Deputy Director-General for Treasury Ismail Momoniat has been named to act in the top occupation at Treasury. In an explanation on Wednesday morning, the service of money reported Momoniat's arrangement as acting chief general viable starting around 8 June.
KZN’s former Treasury head Sipho Shabalala found guilty of corruption, money laundering and fraud.
https://twitter.com/TimesLIVE/status/1536939428635090944?t=ArYHaavgq8KgvGdBrJpxxg&s=19 Previous KwaZulu-Natal financier Sipho Shabalala has been seen as at fault for defilement, misrepresentation, tax evasion and contradicting the Public Money The executives Act connecting with his job in the "amigos case" including the honor of an agreement for the stockpile of water filtration plants as a trade-off for "sugars".
Mapisa-Nqakula Has Revealed That There Is A Shortfall of R74 Million Faced By The Parliament.
https://ewn.co.za/0001/01/01/mapisa-nqakula-parliament-is-facing-r74-million-budget-shortfall?utm_source=dlvr.it&utm_medium=twitter CAPE TOWN - National Assembly Speaker Nosiviwe Mapisa-Nqakula on Tuesday said Parliament confronted a financial plan deficiency of R74 million. She was postponing the public council's financial plan as Parliament has needed to reconfigure its activities because of the COVID-19 lockdowns and the staggering fire that destroyed the National Assembly and Old Assembly chambers in January.
Here Is Why The Treasury Considers The PUBLIC'S Input Regarding The Draft Procurement Regulations
https://ewn.co.za/2022/05/31/treasury-considers-public-comment-on-draft-preferential-procurement-regulations?utm_source=dlvr.it&utm_medium=twitter JOHANNESBURG - Treasury said that it was as of now considering public remarks on the draft particular acquirement guidelines, which were distributed in March and will set up the last guidelines per the Constitution. This follows Monday's excusal of the money priest's application to have the Constitutional Court give lucidity on what it said was a confounding judgment given in February.
More Trouble For MMC Mbundu After This Was Revealed To The Public.
https://www.iol.co.za/sundayindependent/news/africa/treasury-calls-for-opening-of-a-case-against-joburg-mmc-mbundu-173027c8-2872-42aa-ab6d-b7b86876dd74?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1655632760 This comes after a protest was shipped off the Treasury over Mbundu's supposed obstruction in the obtainment cycle of specialist co-ops. In a letter dated June 3 to Sipho Mzobe, the Acting Chief Financial Officer of the Johannesburg Property Company, an element under Mbundu's portfolio, the Treasury said the bookkeeping official is liable for the execution of the metropolitan substance's store network the board strategy, as such Supply Chain Management doesn't fall inside the command of the MMC and there is no regulative structure that allows the MMC to assess costs or meddle in the obtainment processes.