Author: Agency
National Treasury’s Targeted and Responsible Savings (TARS) programme has identified some R12 billion in wasteful and ineffective programs within government. This according to Finance Minister Enoch Godongwana who delivered the 2026 Budget Speech in Parliament on Wednesday. “[In] the Budget last May, we promised that spending priorities would not be funded through tax increases if this could be avoided. We have kept that promise, through our commitment to finding savings from unproductive expenditure, closing leakages, and rooting out inefficiencies. “I am happy to announce that R12 billion in savings have been identified over the medium term,” Godongwana said. He emphasised…
All social grants, barring the COVID-19 Social Relief of Distress (SRD) grant, will increase in the next financial year. This is according to the 2026 Budget Review released by National Treasury on Wednesday. The grant increases are as follows: Old age grant will increase from R2 315 to R2 400. War veterans grant will increase from R2 335 to R2 420. Disability grant will go up from R2 315 to R2 400. Foster care grant rises from R1 250 to R1 295. Care dependency grant will increase from R2 315 to R2 400. Child support grant will go up from…
Government has officially withdrawn the R20 billion tax increase for Value Added Tax (VAT) that was previously penciled in for the 2026 Budget, to provide inflationary relief to taxpayers. Tabling the 2026 Budget in Parliament on Wednesday, Minister of Finance Enoch Godongwana explained that the withdrawal was due to the tax system demonstrating resilience despite slow economic growth. “For 2025/26, the gross tax revenue is revised up by R21.3 billion compared to the estimate in the 2025 Budget. Higher-than-expected net VAT, corporate income tax, and dividends tax collections improved the in-year outlook. “As a result, the government has decided to…
Some 23 suspected members of an alleged R1 billion international scam syndicate have appeared in the Johannesburg Commercial Crimes Court on charges of contravention of the Financial Advisory and Intermediary Services Act (FAIS Act). The suspects were arrested in Gauteng this week, in a multi-agency operation, led by the Directorate for Priority Crime Investigation (DPCI), also known as the Hawks. “The arrests were the culmination of prosecutorial, internationally coordinated investigations conducted by the DPCI, the South African Police Service Crime Intelligence, the Financial Intelligence Centre, the United Kingdom National Crime Agency, the United States Department of Homeland Security Service, Australian…
The Department of Home Affairs (DHA) has issued a record 4 002 964 smart ID cards in the 2025 calendar year — the highest rate of delivery in the history of the department. This milestone represents a 17% increase on the 3 427 468 Smart IDs issued during 2024, which was itself a new record at the time. The 2025 performance is about 1.3 million more than the number of Smart IDs issued during the 2023 and 2022 calendar years. This historic breakthrough represents the latest milestone under the department’s vision to deliver Home Affairs @ home through the pursuit…
South Africa has had over 200 days free of interrupted power supply, indicating that Eskom’s power system remains stable. “South Africa has now experienced 231 consecutive days without an interrupted supply, with only 26 hours of load shedding recorded in April and May during this financial year,” the power utility said in a recent statement. The power utility on Friday said it continues to meet electricity demand, supported by sustained and measurable improvements in generation performance, despite the heavy rainfall experienced in December 2025. “The Generation Recovery Plan is delivering clear results, and together with the intensive planned maintenance carried…
With just several days into the new year, consumers will breathe a sigh of relief as the price of all grades of petrol is set to come down by between 62 and 66 cents this week. As of Wednesday, 7 January 2026, a litre of Petrol 93 (ULP & LRP) will decrease by 62 cents a litre and Petrol 95 (ULP &LRP) will decrease by 66 cents a litre. The decrease in price means that a litre of 95, which currently costs R21.41 cents a litre, will now cost R20.75 in Gauteng. In the coast, a litre of 95 will…
The South African Reserve Bank’s Monetary Policy Committee (MPC) has decided to keep the repo rate unchanged at 7%, with the prime lending rate to also remain at 10.5%. This was announced by SARB Governor Lesetja Kganyago following a meeting of the bank’s MPC. “Four members preferred to keep rates on hold, while two favoured a cut of 25 basis points. Since September last year, we have reduced rates by 125 basis points, and we want to see how this is affecting the economy, how expectations evolve, and how inflation risks are resolved. “The forecast has rates easing gradually, as…
Fresh off the introduction of its first electric vehicle (EV) fleet, Eskom has signed a Memorandum of Cooperation (MoC) with BYD Auto South Africa to support South Africa’s growing EV ecosystem. The MoC – dubbed a “Bold step in South Africa’s move toward cleaner mobility” by Eskom – will pave way for the support of the BYD Dolphin Surf Electric Vehicle and expand charging infrastructure for all South Africans. “Having successfully rolled out EVs within our fleet on 9 September 2025, we are ready to enable wider adoption by bringing practical and accessible charging infrastructure to South Africans. “Eskom is…