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Finance Minister Enoch Godongwana has announced that social grants will increase by at least 5% in the next financial year. “R66 billion is allocated to Social Development over the medium term, with R36 billion to fund the extension of the COVID-19 Social Relief of Distress [SRD] grant until 31 March 2024. R30 billion will be used for inflation-linked increases for other social grants,” Godongwana said. The Minister presented the 2023 National Budget in Cape Town on Wednesday, The increases to social grants are as follows: The old age grant will go up from R1985 to R2085 The old age grants…

Government’s gross debt stock is projected to increase from R4.73 trillion in 2022/23 to R5.84 trillion in 2025/26, says Finance Minister Enoch Godongwana. “And because debt is high, our debt-service costs are also high,” Godongwana said while delivering the 2023 Budget at the Cape Town City Hall on Wednesday. Government, he said, must consider its consolidated position, which includes debt-service costs. South Africa’s consolidated fiscal deficit is projected at 4.2% of GDP for 2022/23, and this will reach 3.2% in 2025/26. The figures include the impact of the partial take-over of Eskom debt, with Godongwana saying that government debt will…

National Treasury has proposed to provide the country’s embattled power utility, Eskom, with R254 billion in debt relief over the next three years. This was on Wednesday confirmed by Finance Minister Enoch Godongwana while delivering the 2023 Budget Speech at the Cape Town City Hall. Of the R254 billion debt relief, R168 billion will be in capital while R86 billion will be in interest, said the the National Treasury in its 2023 Budget Review document. “Because of the structure of the debt relief, Eskom will not need further borrowing during the relief period. Government will finance the arrangement through the…

A National Prosecuting Authority (NPA) assistant director and her son (28), have been convicted by the Pretoria Magistrates’ Court for unlawfully being in possession of top-secret information. Jacobeth Lepinka (52) and her son, Kedifentse (28), were convicted on Friday and will be sentenced on 16 May. National Hawks spokesperson Thandi Mbambo said: “In 2014, NPA discovered that Lepinka took the laptop with classified information to her place of residence without authorisation. “A case of theft was registered and the incident reported to the Hawks’ Head Office based Serious Corruption Investigation team for further handling. The investigation commenced and led the…

Eskom board member, Mteto Nyati, says the power utility and its board is working intently on five key priorities to improve the performance of power stations and ease load shedding as swiftly as possible. He was speaking on Thursday during a media briefing to update South Africans on the challenges facing the power utility. Nyati said there are priorities that require day-to-day focus, whilst others require the power utility to be “slightly more strategic”. The five priorities include the 24-month generation recovery plan, which has two key elements. “The first [element] is to make sure that we have and we…

President Cyril Ramaphosa has called on all South Africans to pay for the electricity they use, as the country works towards overcoming the energy crisis. “As we work together to overcome the energy crisis, I call on all South Africans to pay for the electricity they use. We can only improve and expand the provision of electricity and other basic services if government and municipalities in particular have the means to do so. “Non-payment and illegal connections make electricity provision more expensive and less reliable,” the President said. Addressing the nation through his weekly newsletter, President Ramaphosa said the global…

South Africa’s delegation at the recently concluded Annual World Economic Forum (WEF) meeting in Davos, Switzerland, affirmed that the country is open to investment, and ready to partner with the local and global community to place the country’s economy on a higher, jobs-rich and more sustainable growth path. This is according to a statement by Finance Minister, Enoch Godongwana, who led South Africa’s delegation to the WEF meeting, which was held from 16 – 20 January 2023. “South Africa is on the road to economic recovery. The world recognises that. We have a long way to go, and economic outlook…

The Department of Small Business Development is working on an energy relief package for the Small, Medium and Micro Enterprises (SMMEs) with stakeholders to alleviate the devastating impact of load shedding on small businesses. SMMEs are particularly hit hard by continued power outages as many cannot afford alternative power sources such as generators. They are forced to pause trading during load shedding. As a result, some small businesses resort to selling perishable goods such as meat and vegetables at low prices, to avoid them rotting away, which affects their much-needed income. This has prompted Minister of Small Business Development Stella…

The Department of Public Enterprises (DPE) says it is seeking legal advice and will respond soon to a lawyer’s letter sent to it pertaining to load shedding and the imminent electricity tariff increase. This after a group of lawyers sent a letter to the department demanding, among other things, that the increase granted by the National Energy Regulator of South Africa (NERSA) not be implemented and that load shedding be immediately stopped or an explanation be provided as to why not. “The department received a letter from Mabuza Attorneys demanding that the department and Eskom make certain undertakings regarding load…

President Cyril Ramaphosa has cancelled his travel plans to Davos, Switzerland, in order to deal with the current load shedding crisis in the country. This was announced by the President’s spokesperson, Vincent Magwenya, on Sunday evening. The President was due to lead a South African delegation to Davos on Tuesday and participate in several events linked to the World Economic Forum (WEF) annual meeting, including the Dialogue on Economics of Women’s Health and the Annual Welcome Dinner hosted by Professor Klaus and Hilde Schwab. “Due to the ongoing energy crisis, President Cyril Ramaphosa has cancelled his working visit to the…

Finance Minister Enoch Godongwana says international and local challenges continue to pose as obstacles in the growth of the economy. This as real Gross Domestic Product (GDP) grew by some 1.6% in the third quarter of 2022. Speaking at the Pre-World Economic Forum (WEF) business breakfast held in Johannesburg on Thursday, the Minister said the impact of the COVID-19 pandemic on employment and investment continue to have an impact on growth and warned that the ongoing war between Russia and Ukraine could have a devastating impact. “The theme [for the WEF meeting], Cooperation in a Fragmented World, captures the combination…

The Department of Health (DOH) says it is in consultation with scientists over a highly transmissible variant of the COVID-19 virus. This after media reports over the weekend said the country had found its first case of the variant. “[The department] has been alerted about this highly transmissible XBB.1.5 variant and is currently in discussions with the scientists to gather more information including its transmissibility and severity. Thus, an official communication will be made in due course. “In the meantime [the department] is appealing to everyone to vaccinate, get boosters, wear your masks, keep the distance, avoid overcrowded places and…

The Department of Mineral Resources and Energy (DMRE) has announced that the price of both grades of petrol will decrease by R2.06 per litre, while diesel is to drop by between R2.68 (500ppm) and R2.80 (50ppm). The new prices, effective from Wednesday, mean that a litre of 95 unleaded petrol will now cost R20.75 at the coast and R21.40 inland. 93 unleaded now costs R21.10. The wholesale price of 50ppm diesel is set to drop to R20.79, although retail prices, which vary between outlets, will be higher. The price of Illuminating Paraffin (wholesale) will drop by R1.93, while the Single…

Four men have been denied bail in the Carletonville Magistrates’ Court for their alleged involvement in illegal mining. National Prosecuting Authority (NPA) spokesperson, Lumka Mahanjana, said the four men – Bethuel Ngobeni, Nhlahla Magwaca and the Sechele brothers, Thabo and Moseki – are part of six men are alleged to be kingpins in illegal mining activities in South Africa. At least two others, Dumisani Moyo and Kudzai Mashaya, also remain behind bars on similar charges. “The six are facing seven counts of unlawful dealing in precious metals, three counts of fraud and money laundering. Four of the accused, Ngobeni, Magwaca,…

Eskom has downgraded load shedding to Stage 4 this morning (Wednesday) after Stage 6 load shedding was implemented on Tuesday evening. Stage 4 load shedding is expected to continue until further notice. “[Stage 6 was] necessary to ensure sufficient generation capacity is available tonight to replenish the dam levels at the pumped storage power station so that this capacity will be available during the day [on Wednesday]. “The breakdown of six generating units during the day has necessitated the escalation in the load shedding stage,” Eskom said on Tuesday. Meanwhile, the state owned power utility says electricity supply has been…

The National Treasury has welcomed the recent passing of two bills by the National Assembly and the National Council of Provinces (NCOP). The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill and the Protection of Constitutional Democracy Against Terrorist and Related Activities (POCDATARA) Amendment Bill were passed by the two houses recently. In a statement, the Treasury said the passage of the Bills demonstrates government’s commitment to fight corruption and terror financing, and represents “a giant step” towards South Africa complying with the 40 Financial Action Task Force (TAFT) recommendations. The Minister of Finance, Enoch Godongwana, introduced the…

President Cyril Ramaphosa has encouraged South Africans to remain optimistic, even as “we brace against harsh winds”. “We are a nation that perseveres, and that never gives up. We will overcome our current challenges, as surely as we did the pandemic that threatened to lay waste to our nation. “Misfortune has tested us over the past year, but these hard times have brought to the fore once more the traits for which we are known as South Africans,” the President said in his weekly newsletter on Monday. As 2022 draws to a close, President Ramaphosa urged the nation to reflect…

National Treasury says it continues to engage with the Department of Public Enterprises and Eskom with the aim of identifying solutions to the purchase of diesel. On Thursday, the Treasury said it had noted the recent public interest and media queries requesting clarity about discussions to assist Eskom with the purchase of diesel. In a statement on Thursday, it said: “The staggered nature of the budget process, which allows for the necessary legislative and executive oversight as well as for well-informed planning about how to allocate the country’s scarce financial resources, makes it difficult to consider and accommodate any ad…

Eskom has delayed the start of the Koeberg Nuclear Power Station’s maintenance outage to next week Saturday to allow the strained national power grid to stabilise and recover some generation capacity. This after the power utility implemented Stage 6 power cuts until Friday morning – leaving some neighbourhoods without any power for up to four hours per rotation. Eskom Acting Chief Nuclear Officer, Sadika Touffie, said the decision to delay the refuelling and maintenance outage is necessary. “While Eskom is ready to commence with the outage, with the contractors and all the requisite resources on standby, grid stability is an…

President Cyril Ramaphosa has lauded the country for being able to rebuild the supporting architecture to investigate and prosecute serious and other crimes within a short space of time. This comes after the announcement by the National Prosecuting Authority (NPA) last week that it had reached a settlement with an international company implicated in corruption at Eskom. In his weekly newsletter to the country, President Ramaphosa described this as a huge development in the country’s effort to hold those responsible for state capture to account. The NPA Investigating Directorate finalised a landmark agreement with Swiss engineering company ABB Ltd to…

Presidential spokesperson, Vincent Magwenya, says President Cyril Ramaphosa is still engaging stakeholders with regards to the way forward following findings by an Independent Section 89 panel that the President may have violated his oath of office. The panel was formed to look into the circumstances around a robbery at the President’s Phala Phala game farm and found that President Ramaphosa may have seriously violated sections 96(2)(a) of the Constitution and Section 34(1) of the Prevention and Combating of Corrupt Activities (PRECCA) Act – allegations the President said he “categorically denies”. At a media briefing last night, Magwenya said the President…

The National Prosecuting Authority (NPA) says Swiss engineering company, Asea Brown Boveri (ABB), is expected to pay some R2.5 billion in “punitive reparations to South Africa” for its part in State Capture. The company was allegedly irregularly awarded a lucrative control and instrumentation contract at Eskom’s Kusile Power Station in 2015 after allegedly colluding with Eskom officials. “This settlement represents a bold and innovative step towards accountability and justice for alleged offenders, particularly in the form of restitution for the serious crimes committed at Eskom during the state capture period. “This agreement was reached in line with Section 64(e) of…

Cabinet has approved the 2022 Science, Technology and Innovation (STI) Decadal Plan, which serves as an implementation guide of the 2019 White Paper on STI. Minister in the Presidency, Mondli Gungubele, said on Thursday that Cabinet approved the draft plan in March 2021 and has since been enriched through further consultation with relevant stakeholders. The plan has five thematic focus areas which are as follows: – modernisation of agricultural, manufacturing and mining sectors; – exploitation of new sources of growth, particularly the digital and circular economy; – large research and innovation programmes in the areas of health and energy; – utilising…

People living with HIV (human immunodeficiency virus) who collect their medication from government clinics have the option of collecting their medication from a Post Office collection point. On the eve of World AIDS Day on 1 December, the South African Post Office (Sapo) said anyone who collects chronic medication from a government clinic, but who lives closer to a post office than the clinic, can request to collect their medication from the Post Office. “The service is aimed at patients who live or work closer to a post office than a government clinic. The main benefit of the service is longer service…