national treasury

  1. Jan

    Eskom not getting exemption from reporting wasteful expenditure in financial statements after all

    Finance minister backtracks on giving Eskom exemption from reporting wasteful expenditure Eskom will not be granted a partial exemption from disclosing fruitless and wasteful expenditure and material losses from criminal conduct in its annual financial statements, National Treasury has said...
  3. Jan

    Treasury says Eskom will report R21.2 billion before-tax loss - R7.6 billion higher than budgeted

    Eskom is in deep financial trouble Eskom's financial situation has deteriorated further, with the power utility reporting a R21.2 billion loss before tax for its last financial year — R7.6 billion more than it had budgeted. Moreover, the state-owned power utility's debt increased by almost 11%...
  4. Hanno Labuschagne

    National Treasury sticks by Eskom's controversial irregular expenditure exemption

    National Treasury sticks by Eskom's controversial irregular expenditure exemption South Africa's National Treasury is adamant on reinstating the controversial measure it had previously granted Eskom to exempt it from reporting irregular, wasteful, and fruitless expenditures over three years...
  5. Jan

    Irregular, fruitless, and wasteful expenditure - Eskom's R940,000 oil container that should have been R80,000

    Eskom's wasted money — R860,000 overpaid on oil container and the R200,000 mop Finance minister Enoch Godongwana recently exempted Eskom from reporting irregular and wasteful expenditure in its financial statements for three years. This is despite former Eskom CEO André de Ruyter disclosing...
  6. Jan

    Godongwana exempts Eskom from reporting wasteful and irregular expenditure for 3 years

    Eskom doesn't have to report wasteful and irregular expenditure anymore South African finance minister Enoch Godongwana has gazetted a new regulation which exempts Eskom from disclosing any irregular, fruitless, and wasteful expenditure amounts in its annual financial reports until 2025...
  7. Jan

    Godongwana proposes R254-billion bailout for Eskom

    Eskom getting R254 billion government bailout to help end load-shedding Finance minister Enoch Godongwana proposed a debt-relief arrangement for South Africa's embattled power utility of R254 billion during his 2023 Budget Speech on Wednesday, 22 February. He said the debt relief would go a...
  8. Jan

    Post Office plays hardball in wage negotiations - tells union it will retrench 6,000 workers

    Post Office threatens to retrench 6,000 workers The South African Post Office (Sapo) has shifted its plan of action drastically, from planning to cut staff wages to announcing plans to retrench 6,000 workers. The Communications Worker Union (CWU) has reached out to the National Treasury as it...
    • Jan
    • Thread
    • aubrey tshabalala communication workers union (cwu) dianne kohler barnard national treasury south african post office (sapo)
    • Replies: 87
    • Forum: Broadband and IT News
  9. Jan

    Eskom has no choice but to hike prices over 30% - analyst

    Without a bailout Eskom must hike electricity prices over 30% Eskom's 32% tariff increase application is likely the result of South Africa's National Treasury refusing to bail it out anymore, according to political and economic analyst Dale McKinley. In a CapeTalk interview, McKinley said...
    • Jan
    • Thread
    • dale mckinley eskom national treasury organisation undoing tax abuse (outa)
    • Replies: 60
    • Forum: Broadband and IT News
  10. Jan

    Treasury says it wants to crack down on crypto mining

    South Africa to crack down on cryptocurrency miners and stablecoins National Treasury is exploring measures to regulate electricity-intensive cryptocurrency mining in South Africa. In the 2022 Budget Review published this week, Treasury said that crypto mining is environmentally harmful.
    • Jan
    • Thread
    • enoch godongwana financial action task force (fatf) intergovernmental fintech working group (ifwg) national treasury
    • Replies: 18
    • Forum: Broadband and IT News
  11. Jan

    SA Connect Phase Two - what to expect

    Free Wi-Fi and Internet grants — South Africa's big broadband plans The South African government's project to roll out free Wi-Fi and provide broadband subsidies throughout the country — dubbed SA Connect — is moving forward. President Cyril Ramaphosa's cabinet approved the rollout of the...
    • Jan
    • Thread
    • cyril ramaphosa department of communications (doc) khumbudzo ntshavheni national treasury sa connect
    • Replies: 5
    • Forum: Broadband and IT News
  12. Jan

    South African Panel Proposes Gradual Start to Basic Income Grant

    Phased start for South Africa's R958 billion Basic Income Grant — advisory panel A South African panel recommended the country gradually implement a basic income grant, beginning with the institutionalization of a monthly welfare payment introduced last year to offset damage wrought by the...
    • Jan
    • Thread
    • alex van den heever basic income grant department of social development enoch godongwana national treasury universal basic income university of the witwatersrand (wits)
    • Replies: 66
    • Forum: News and Current Affairs
  13. Jan

    Eskom to seek bondholder approval for plan to spread debt load

    Eskom's plan to spread its R402 billion debt Eskom will ask for approval from bondholders to spread its R402 billion debt between three corporate entities.
  14. Jan

    Standerton's municipality owes Eskom R1.3 billion - but hiked salary expenses by 161%

    Bankrupt municipality can't pay Eskom — but hikes salaries by 161% A bankrupt municipal government has given substantial salary increases to staff and councillors even though it is still bleeding money and owes Eskom R1.3 billion.
    • Jan
    • Thread
    • astral foods eskom johann mettler lekwa municipality national treasury
    • Replies: 220
    • Forum: News and Current Affairs
  15. Jan

    Network fault knocks SAPS, Treasury, and several other government departments offline

    Police and Treasury offline — network problem knocks out South African government ...According to the source, the outage also affected all external services routed via the Centurion data centre, including all external emails, remote VPN services, public DNS services, and third-party...
    • Jan
    • Thread
    • national treasury saps state information technology agency (sita)
    • Replies: 19
    • Forum: Broadband and IT News
  16. Jan

    A R300m private college versus government's failed R866 million infrastructure plans

    A tale of two colleges — Solidarity versus government The collapse of an R866-million Department of Higher Education and Training (DHET) infrastructure project has painted a bleak picture of the government's ability to deliver on its promises. Circumstances around the failed government project...
    • Jan
    • Thread
    • blade nzimande department of higher education and training (dhet) national treasury sector education and training authority (seta) solidarity
    • Replies: 58
    • Forum: News and Current Affairs
  17. Jan

    R38.9 billion for South Africa's riot relief package

    Riot relief package price tag of R38.9 billion for South Africa South Africa’s Treasury expects a relief package for businesses and individuals affected by this month’s deadly riots to cost 38.9 billion rand ($2.6 billion). The government will spend an additional 31.2 billion rand and grant 5...
  18. Jan

    Six alleged insurrectionists arrested

    Six arrested for instigating insurrection in South Africa South African authorities arrested six people who allegedly instigated a week of rioting that claimed at least 215 lives and have charged them with inciting public violence. One of the six was released on bail, while the other five are...
    • Jan
    • Thread
    • cyril ramaphosa jacob zuma khumbudzo ntshavheni national treasury
    • Replies: 108
    • Forum: News and Current Affairs
  19. Hanno Labuschagne

    Cryptocurrencies must be regulated in South Africa - National Treasury

    Cryptocurrencies must be regulated in South Africa - National Treasury National Treasury has told Parliament that South Africa’s only option was to regulate activities related to crypto assets like Bitcoin. It said that the country can’t simply leave the crypto asset market unregulated, and it...
  20. Hanno Labuschagne

    Government faces tough choices on Eskom debt

    Government faces tough choices on Eskom debt South Africa’s National Treasury is considering whether it would be better to move a chunk of Eskom Holdings SOC Ltd.’s R464 billion ($31 billion) of debt into a special-purpose vehicle or have the state take over responsibility for it directly...
  21. Kevin Lancaster

    Digital TV costing tax payers another R620 million

    Digital TV costing tax payers another R620 million South Africa’s perpetually postponed migration to digital TV continues to cost Treasury hundreds of millions
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