Uncertainty over the future of Finance Minister Nhlanhla Nene is leaving markets jittery, in a development the Banking Association of South Africa (Basa) has described as “unfortunate”.
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Basa: Nhlanhla Nene fears worsening ‘jittery’ markets
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REPORT – Nhlanhla Nene asks to be relieved of his duties
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Following a public apology for meeting the Gupta brothers at their Saxonwold home instead of a public place, Finance Minister Nhlanhla Nene has asked to be relieved of his duties, according to a Business Day report on Monday.
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State Capture Inquiry Updates:- How Zuma faked a job for Nene
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Former president Jacob Zuma did not give Nhlanhla Nene any reason why he was fired from his position as finance minister in December 2015, but instead presented Nene a “fabricated” job offer.
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No wonder municipal service delivery is so poor in SA because 50% of city councils bosses are not qualified for the position they currently holds
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Nhlanhla Nene, finance minister, revealed that more than half of the country’s municipal managers and chief financial officers did not meet the minimum eligibility criteria for the position they hold. On inquiry, he said that only 79 of the 218 financial officers were properly qualified, while in nearly 40 municipalities there were vacancies for both..
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Treasury News:- Sars shortfall to blame for VAT hike, so we are paying for their incompetency!
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Treasury would not have needed to increase value added tax (VAT) by one percentage point to 15% in April if not for the revenue shortfall at the South African Revenue Services (SARS), deputy director general at national treasury Ismail Momoniat told the Nugent commission of inquiry on Wednesday.
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Costly Head winds pummel the South African Airways
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Finance Minister Nhlanhla Nene has demanded an explanation from SAA for its contract with interim chief financial officer Robert Head that will see him pocketing more than R5‑million for six months’ work.
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You might ask the following question regarding the NHI:- Will I be able to opt out of the NHI?
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In June, the health minister released the long-awaited National Health Insurance Bill. What does it mean to you and your medical aid? We tell you.
1. Will you be able to say “thanks, but no thanks”?
If the National Health Insurance (NHI) Bill is passed in its current form, the NHI will be compulsory, regardless of whether you also belong to a private medical aid. So, opting out won’t be possible. The Bill says the NHI, which will be like a big, state-funded medical scheme, will be a free service, but it doesn’t tell us what benefits will be covered, how the scheme will be paid for or how much it will cost.
2. When will the NHI start, and, will it actually happen?
The NHI Bill says the scheme will be implemented in three phases — we’re currently in the second phase (2017 – 2022), during which NHI legislation has to be developed and the NHI fund has to be established. During the last phase, from 2022 – 2026, Cabinet
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Cabinet reshuffle: A new dawn in the economic cluster
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Less than two weeks after he hinted that change was coming, President Cyril Ramaphosa made sweeping changes to his cabinet, including the return of Nhlanhla Nene as the finance minister.
Other major changes to key economic portfolios include the appointment of Pravin Gordhan to the ministry of public enterprises to replace Lynne Brown; the appointment of ANC chairperson,
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Guess who’s back? Nhlanhla Nene has returned to the hot seat as South Africa’s Finance Minister, just two years and two months after he was unceremoniously dumped by Jacob Zuma.
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President Jacob Zuma issued a statement removing Nene from his post in December 2015, but the presidential address did not clearly outline the reasons behind Nene’s dismissal. He replaces Malusi Gigaba, who has moved on to Home Affairs.
Yet here he is, having the last laugh as he and JZ cross paths through the ANC’s revolving doors. We wanted to learn a bit more about him, and see what kind of politician we are getting back in cabinet
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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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Cabinet expresses confidence in new SAA board
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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..
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