Latest News & Developments
ActionSA and ANC's agreement to scrap the VAT hike within 30 days highlights a significant step towards alleviating South Africa's budget crisis.
Helen Zille has confirmed the Democratic Alliance will remain within the Government of National Unity despite opposing the controversial VAT increase.
The ANC is under pressure to abandon its 0,5% VAT increase after they failed to convince parties to implement the increase.
The ANC is under pressure to abandon its 0,5% VAT increase after they failed to convince parties to implement the 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.
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.
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.
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?
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?
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?
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.
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.
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.
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.
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 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.
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 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.
Workers cannot afford a return to an austerity Budget that weakens public services and denies badly needed economic stimulus, nor can the working class survive further hardships.
"Business and civil society groups express concerns over the government's planned VAT increase, warning of its potential impact on low-income households and economic activity.
The National Treasury has allocated R11 billion to facilitate early retirement for 30 000 public servants over two years, aiming to reduce wage costs and rejuvenate the public service sector.
South Africa's delayed March 2025 Budget reveals encouraging signs of improved provincial spending management and optimistic economic growth projections, surpassing IMF forecasts. Analysis uncovers significant reductions in irregular expenditure and positive GDP growth expectation
National Treasury launches major budget overhaul amid concerns over rising government debt, with new fiscal anchors proposed to enhance public sector efficiency and economic growth
The National Treasury has allocated R11 billion to facilitate early retirement for 30,000 public servants over two years, aiming to reduce wage costs and rejuvenate the public service sector. Finance Minister Enoch Godongwana announced the initiative will target employees over 55, with expected annual savings of R7. 1 billion
MK Party's Mzwanele Manyi warns of nationwide protests if Finance Minister proceeds with VAT increase in Wednesday's Budget Speech, proposing corporate tax hikes and wealth tax as alternatives to avoid burdening the poor.