The 2018 Budget is there to fight corruption

Renewed vigour to tackle corruption head-on was palpable in National Treasury’s 2018 budget, tabled in parliament on Wednesday.

Deep-rooted and wide-spread corruption has become commonplace in the public sector under the leadership of former
Continue reading…

Enjoyed this post? Share it!

 
 

This is what Malusi has to say about the 2018 Budget

For the first time in 25 years, the South African government will hike up Value-Added Tax (VAT) in a bid to fund the gaping hole in the national budget.

With tax collection falling short by R48-billion, compounded by former president Jacob Zuma’s announcement of fee-free higher
Continue reading…

Enjoyed this post? Share it!

 
 

Malusi Gigaba – Prepare for a tough budget

President Cyril Ramaphosa has been pressuring the finance ministry to reduce spending and increase revenue, and South Africans should thus prepare for another tough budget, finance minister Malusi Gigaba told the Mail & Guardian.

Amid speculation that Gigaba could be reshuffled out of the paramount ministry by Ramaphosa after his takeover as head of state,
Continue reading…

Enjoyed this post? Share it!

 
 

Minister of Finance plays “Candy Crush” on his tablet in Parliament

The Minister of Finance sits in Parliament on one of the most important days in recent political history….and he plays “Candy Crush” on his tablet. Is the data part of his benefits package, by chance? 

Why still wonder what went wrong with the economy? The president had his fingers in the till while the Minister was playing TV games.

That is the summarised explanation for South Africa’s economical woes.
Continue reading…

Enjoyed this post? Share it!

 
 

The only thing falling faster than the Rand is the Presidents eyelids: Zuma caught napping during Gigaba’s mini budget speech

A screenshot of Jacob Zuma taking a nap during Malusi Gigaba’s mini-budget speech has gone viral. Gigaba delivered his “maiden” budget speech on Wednesday – and the forecast was pretty grim. But if you’re hoping that President Jacob Zuma was going to zoom in to try and boost the confidence of consumers and investors, you’re […]
Continue reading…

Enjoyed this post? Share it!

 
 

Junk status looms after mid-term budget fails to inspire confidence – It is not looking good for SA

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 […]
Continue reading…

Enjoyed this post? Share it!

 
 

Gigaba’s first test: Can he ace the mid-term budget?

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 […]
Continue reading…

Enjoyed this post? Share it!

 
 

Cabinet expresses confidence in new SAA board

Newly appointed Communications Minister Mmamoloko Kubayi says Cabinet is happy with the appointment of a new board at South African Airways. Yesterday Finance Minister Malusi Gigaba announced the axing of former SAA board chairperson Dudu Myeni, who has now been replaced by Johannes Bhekumuzi Magawaza. Anglo American board chairperson Nolitha Fakude has been appointed as […]
Continue reading…

Enjoyed this post? Share it!

 
 

National Treasury captured by Finance Minister Gigaba?

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 […]
Continue reading…

Enjoyed this post? Share it!

 
 

Gigaba lashes out against ‘hysteria’ over SAA bailout

Finance Minister Malusi Gigaba has spoken out against what he termed hysteria that has been created around the options government is considering to recapitalise South African Airways (SAA). He was speaking at a briefing at Treasury following a meeting with the steering committee of the CEO Initiative on Friday. He emphasised that government is still […]
Continue reading…

Enjoyed this post? Share it!

 
 

EU style Supremacy comes to Southern Africa. Do Africans even care about their own identity, languages or culture?

As time goes by it is becoming clear that the fall of Apartheid was merely the first step of a more sinister regional Supremacist Power Structure, and one which really does involve genocide! The Southern African Development Community (SADC) has announced plans to introduce a new regional EU style law which would see all SADC countries holding […]
Continue reading…

Enjoyed this post? Share it!