Author: Agency

As South Africa continues along the path of reconstruction and recovery, President Cyril Ramaphosa has called on investors, entrepreneurs and business people to be a part of the journey. President Ramaphosa said that investors need to know that their investments are secure, that the operating environment is stable, and that they are supported by policy certainty and regulatory safeguards. The President said this when he addressed the fourth South African Investment Conference (SAIC) on Thursday at the Sandton Convention Centre, in Johannesburg. The President initiated the SAIC annual event in 2018 in an effort to secure domestic and inbound investment…

Breakdowns and shut downs at Eskom’s power stations has led to the implementation of Stage 2 load shedding. According to the power utility, at least seven units were affected – putting the power grid under severe pressure. “Medupi Unit 3 broke down, necessitating load shedding to be [implemented]…continuously until 5am on Wednesday. This adds to the multiple generating unit failures that occurred over the past 24 hours and has severely reduced available generating capacity. “Since [Monday] morning, a unit each at Matla, Kendal, Matimba, Kusile and Grootvlei power stations tripped, while a unit each at Arnot and Hendrina power stations…

Higher Education and Training Minister, Dr Blade Nzimande, has called on all employers to open their workplaces for the placement of Technical Vocational Education and Training (TVET) college students. In the same vein, the Minister urged employers to give workplace exposure to TVET college lecturers, so that they can train students in what is currently needed by industry. “The primary aim of these placements is to assist the transition of our young people from learning to working,” Nzimande said on Friday at a  briefing on learning and training opportunities provided through Sector Education and Training Authorities (SETAs). He reaffirmed the…

The National Skills Fund (NSF), in partnership with the Presidency, has allocated R100 million towards the Presidential Youth Employment Initiative, which will benefit 4 500 learners in the digital learning space. Briefing the media on learning and training opportunities provided through the Sector Education and Training Authorities (SETAs) on Friday, Higher Education, Science and Innovation Minister, Dr Blade Nzimande, said the NSF has committed R200 million to the employment creation initiative between the Department of Higher Education and Training and the Department of Employment and Labour, through the Unemployment Insurance Fund (UIF). Nzimande said the project will benefit more than…

Finance Minister Enoch Godongwana says government will introduce a new tax of R2.90 on vaping products from January next year. The Minister also announced on Wednesday that excise duties on alcohol and tobacco will increase by between 4.5% and 6.5%. Godongwana tabled his maiden Budget Speech before a sitting of Parliament on Wednesday. “Government also proposes to introduce a new tax on vaping products of at least R2.90 per millilitre from 1 January 2023. A new tax will also be introduced on beer powders,” he said. In its Budget Review document, National Treasury said following public consultations, government proposes to…

The National Treasury has proposed that from April 2022, the special COVID-19 social relief grant be extended by another 12 months. In its Budget Review document, the National Treasury said while remaining on course to stabilise debt, government proposes raising spending in the areas of greatest need. “The 2022 Budget provides for a 12‐month extension of the R350 per month special COVID‐19 social relief of distress grant. This will ensure the continuation of public support for poor households as the pandemic recedes,” the National Treasury said. The National Treasury said South Africa’s comprehensive social wage has been significantly augmented in the…

Finance Minister Enoch Godongwana has announced that general public services will, over the next three years, reprioritise R2.4 billion to modernise information and communication technology, as well as fund the shortfall in the allocation for the Integrated Financial Management System (IFMS). A portion of the funds, said Treasury, will also facilitate the population census in 2022, and support membership contributions to multilateral development banks. The pronouncements are contained in the 2022 Budget Review accompanying the Budget Speech the Minister delivered in Parliament on Wednesday. In total, the general public services function is allocated R209 billion over the Medium Term Expenditure…

When Finance Minister Enoch Godongwana tables his maiden Budget Speech today, all the focus will be on his proposals to bolster the health of the public purse, and what that will mean to the taxpayer’s pocket. This after Godongwana said during the Medium-Term Budget in November that gross tax revenues are expected to exceed the estimates presented at the time of the 2021 Budget by R120.3 billion in 2021/22. What this means is that after forecasting total tax revenues of R1.365 trillion in the 2021 Budget, National Treasury made a significant upward revision to this figure in the MTBPS 2021…

The South African Post Office (SAPO) has announced that approved recipients of the R350 Social Relief of Distress (SRD) grant can now collect their benefit from Pick n Pay and Boxer stores nationwide from Wednesday, 22 September. However, according to the national postal service, this is only open to grant recipients who have received an SMS from the South African Social Security Agency (SASSA) confirming their collection payout point as either Pick n Pay or Boxer. “Pick n Pay and Boxer are proud to assist grant beneficiaries access their funds more conveniently and safely, ensuring they receive much-needed relief quicker…

Gauteng Premier David Makhura says the creation of jobs and growing the economy are the top two priorities for the Gauteng Provincial Government. Makhura was delivering the State of the Province Address during a sitting of the Gauteng Provincial Legislature on Monday. The Premier said the economy of the province – much like the rest of the country – is reeling because of the devastating effects of the COVID-19 pandemic. Makhura said this has spurred the provincial government into action to change the lives of those living in the province. “[We] are boldly shifting our main focus and energies to…