Author: Agency
The South African Revenue Service (SARS) has been allocated R3.5 billion in the current financial year and an additional R4 billion over the medium term. Tabling the 2025 Budget Speech on Wednesday, Minister of Finance Enoch Godongwana said broadening the tax base and improving the administrative efficiency of SARS allows government over time, to spread the tax burden more evenly and equitably. With this budget allocation, SARS will focus on leveraging technology, data science and artificial intelligence to foster efficiency and transparency in tax administration while combating exploitation by criminal syndicates. “By the end of February this year, SARS reported a…
Government has provisionally allocated an additional R19.2 billion over the medium term for the Passenger Rail Agency of South Africa’s (PRASA) critical signalling upgrades. Tabling the 2025 Budget Speech on Wednesday, Minister of Finance Enoch Godongwana, said the agency was making steady progress towards rebuilding infrastructure to provide affordable commuter rail services. “To sustain this progress, we have provisionally allocated an additional R19.2 billion over the medium term for critical signalling upgrades. This will enable commuters from areas like Mamelodi, Kwa-Mashu, Motherwell and Khayelitsha to catch a train every 10 minutes, to get to and from work and significantly reduce…
South Africa’s economy is projected to grow at an average of some 1.8% from 2025 to 2027, despite sluggish growth over the past decade. This is according to Finance Minister Enoch Godongwana who delivered the Budget Speech in Parliament on Wednesday. “[The] truth is our economy has stagnated for over a decade. In that time, Gross Domestic Product [GDP] growth has averaged less than 2%, far below the level required to meet our expanding list of needs. “In 2024, the economy grew by only 0.6%. Over the medium term, GDP growth is projected to average 1.8%. “To meet our goals…
South Africa requires upwards of R440 billion in the next 10 years to expand its transmission infrastructure, says Minister of Electricity and Energy, Dr Kgosientsho Ramokgopa. Addressing the Africa Energy Indaba in Cape Town on Tuesday, the Minister said the country’s transmission development plans have identified the need to modernise and expand the grid for 14 000 kilometres in the next 10 years. “This is going to require an enormous amount of investment. The fiscus won’t be able to carry that. The Eskom balance sheet is not sufficient, so it is important to find bespoke financing instruments to make this possible,” the…
The Minister of Finance Enoch Godongwana and National Treasury are set to finalise the budget and table it before Parliament next week on Wednesday, 12 March 2025. This is according to a Cabinet statement issued by the Government Communication and Information System (GCIS) on Tuesday, following a special meeting held by Cabinet on Monday. The meeting was convened to consider inputs by members of the Cabinet into best possible options, under the circumstances, to fund the Budget of 2025/26 financial year and the medium term. “This follows another special Cabinet meeting on Monday, 24 February 2025, that allowed broad discussions…
Small Business Development Minister Stella Ndabeni has announced the creation of a R500 million Spaza Shop Support Fund that aims to enhance market competitiveness to help spaza shops and food handling outlets compete with larger retailers. Addressing media in Pretoria on Sunday, the Minister said the fund will be launched soon and will support township convenience shops, including spaza stores. “The fund will be launched in the next two weeks and a date will be communicated,” she said adding that the fund will comprise of funds from the Department of Small Business Development (R150 million) and the Department of Trade,…
The South African government is committed to reinvigorating the country’s logistics sector as an enabler of economic prosperity. This is according to Transport Minister Barbara Creecy who delivered remarks at the launch of a new World Bank report titled: “Driving Inclusive Growth in South Africa: Quick Wins with Competitive Markets and Efficient Institutions”. “[Government has] established the National Logistics Crisis Committee [NLCC]…comprised of representatives from the Presidency, various government departments and the private sector. “Its work includes securing strategic logistics corridors handling commodities that are essential to the export market and economic growth; addressing backlogs and congestion at strategic border…
In a major step towards cementing South Africa’s position as a global leader in green hydrogen, the Minister of Forestry, Fisheries, and the Environment, Dr Dion George, has overseen the launch of two game-changing environmental planning mechanisms. The Environmental Impact Assessment (EIA) Guideline for green hydrogen projects and the South African Green Hydrogen Potential Atlas will remove regulatory uncertainty, drive investment, and accelerate South Africa’s transition to a green hydrogen economy. Developed in partnership with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), the Council for Scientific and Industrial Research (CSIR), and GFA Consulting Group, these mechanisms will provide critical guidance…
Minister of Trade, Industry and Competition, Parks Tau, has emphasised the importance of regulating private healthcare costs to guarantee that affordable healthcare remains accessible to the majority of South Africans. “There is a serious concern about access to private healthcare in the country, given the high levels of market concentration and high prices,” he said on Tuesday. The Minister was speaking at a joint media briefing with Health Minister Dr Aaron Motsoaledi to share progress on implementing the recommendations from the Health Market Inquiry (HMI) into the private healthcare sector. The HMI, conducted five years ago by the Competition Commission…
The Department of Science, Technology and Innovation (DSTI) has expressed its strong support for government’s vision to bolster innovation as articulated by President Cyril Ramaphosa in the 2025 State of the Nation Address (SONA). The department said the Innovation Fund will be a key priority for the government in the 2025/26 financial year, with implementation overseen by the DSTI Minister, Professor Blade Nzimande. In his address earlier this month, President Ramaphosa reaffirmed the government’s commitment to advancing the Innovation Fund, which aims to bolster the growth of innovative startups and technology-driven Small and Medium Enterprises (SMEs). “To build an innovative…
The National Treasury has expressed satisfaction with the progress being made to remove South Africa from the Financial Action Task Force (FATF) grey list. This follows an announcement by the FATF on Friday, in which it upgraded four of the six outstanding action items at the conclusion of its latest plenary meetings in Paris, France. The FATF is the international standard-setting body that oversees global compliance with anti-money laundering rules. The FATF grey list refers to the FATF’s practice of publicly identifying countries with strategic AML/CFT deficiencies. The FATF maintains two such lists with one being jurisdictions under “increased monitoring”…
The Minister of Electricity and Energy, Dr Kgosientsho Ramokgopa has assured South Africans that the country will overcome the current bout of load shedding crisis by the end of the week. The Minister along with Eskom executives were briefing the media on Sunday to provide an update on the status of South Africa’s electricity generation performance. The briefing follows an announcement by Eskom that it had implemented Stage 6 load shedding as of 1:30 am on Sunday. “I’m confident that by the end of the week, we should be out of this difficult situation. We are confident we’re going to…
The South African Police Service (SAPS) seized more than 70 000 counterfeit items valued at over R90 million in January 2025. The police also arrested 37 suspects of various nationalities during multiple takedown operations conducted in Limpopo and KwaZulu-Natal throughout the month of January 2025. The seized counterfeit and illicit goods included cellphones and accessories, pharmaceuticals, cigarettes, toys, clothing and consumables. These operations were led by the National Counterfeit Goods Unit, with the support of the provincial Counterfeit Goods Units, the Department of Home Affairs, the South African Revenue Service (SARS) Customs division and brand protectors. A Mission Action Joint…
The use of drone technology has boosted South Africa’s border security efforts, with operations at ports of entry this festive season having been improved as a result. Speaking at a briefing on Friday on the Border Management Authority (BMA) festive season operations, Home Affairs Minister Dr Leon Schreiber said the use of drones at five ports of entry on a pilot basis made an immediate and visible impact. Schreiber said the piloting of new technology, including drones and body cameras, has demonstrated the power of digital transformation to secure and enhance border management. “It is now time for the BMA…
As the world convened in Davos for the World Economic Forum (WEF) Annual Meeting recently, South Africa presented its vision for the G20 Presidency this year – outlining a path towards a more equitable and sustainable future. This is according to President Cyril Ramaphosa who addressed the country through his weekly Presidential newsletter on Monday. South Africa’s theme for the Group of Twenty (G20) Presidency is Solidary, Equality, Sustainable Development. “We made the point that it is in the interests of all countries, large and small, wealthy and poor, to reduce global inequality. That is why one of our priorities…
President Cyril Ramaphosa, says South Africa is undergoing a “fundamental transformation” – as it seeks to accelerate inclusive economic growth. President Ramaphosa was speaking at the South Africa Night World Economic Forum (WEF), held at the Garden Hall in Davos Klosters, Switzerland, on Tuesday evening. The event, hosted by Brand South Africa, celebrated the country’s G20 Presidency, an extraordinary opportunity to shape the global agenda for inclusive growth and sustainable development. The event was held on the sidelines of the annual WEF meeting, which is taking place from 20-24 January 2025, under the theme: “Collaboration for the Intelligent Age”. The…
Eskom Group Executive for Generation, Bheki Nxumalo, says eyes at the power utility are now firmly fixed on reaching a year without implementing load shedding – a target that is just slightly more than two months away. This as Eskom reached 300 days without implementing the scheduled rolling black outs today. “Credit goes to all our 40 000 dedicated and skilled Eskom employees, who are committed to serving South Africa. Our sights are now firmly focused on delivering one year without load shedding at midnight on 26 March 2025. “These 300 days without load shedding have been characterised by a…
The Minister of Trade, Industry and Competition Parks Tau is still applying his mind on the granting of the fourth National Lotteries License. “Unfortunately, I am not in a position to make a final decision at this stage. Any such decision at this time would in all good conscience mean that I have not applied my mind with due consideration of all the relevant factors,” the Minister said in a statement on Saturday. In providing an update, the Minister said he had identified matters that require further evaluation adding that it would be “inappropriate to disclose these issues now and…
South Africa is currently experiencing the longest period without load shedding in the last five years. This, according to Electricity and Energy Minister, Dr Kgosientsho Ramokgopa, who briefed media on Monday. Eskom has marked more than 270 days without implementing the rolling power outages, with load shedding last implemented in March this year. “We are recording another milestone in that we are experiencing the longest stretch of uninterrupted power supply in five years. It is an important milestone. We are not celebrating the fact that we have not had load shedding for 272 days… We are simply marking the point…
Government has extended the registration deadline for spaza shops and other food handling outlets to 28 February 2025, as announced by Cooperative Governance and Traditional Affairs Minister, Velenkosini Hlabisa, on Wednesday. This follows the end of the initial 21-day registration period, which concluded on Tuesday, 17 December 2024. A total of 42 915 applications were received, and 19 385 of them have been approved. President Cyril Ramaphosa announced the registration last month as one of the measures to address growing concerns regarding spaza shops and tuck shops, which are linked to an increase in foodborne illnesses and deaths. The President’s…
Trade, Industry and Competition Minister, Parks Tau, has noted the order issued by the Competition Tribunal prohibiting the proposed merger between Vodacom (Pty) Ltd and Maziv (Business Venture Investments No. 2213 (Pty) Ltd). “This order follows the Competition Commission’s initial recommendation to prohibit the merger, citing significant concerns that it could substantially reduce competition in critical markets, particularly within the 5G Fixed Wireless Access (FWA) and fibre infrastructure sectors. “The Ministry participated in the merger proceedings on public interest grounds in line with merger provisions of the Competition Act, which led the merger parties committing substantial public interest conditions to…
South Africa is determined to be “ultra aggressive” in onboarding renewable energy sources. This is according to Electricity and Energy Minister, Dr Kgosientsho Ramokgopa. The Minister was speaking on Monday during the Ministerial Renewable Energy Seminar held in Midrand, under the theme: “Advancing Renewable Energy: A Comprehensive Review of the IPP Procurement Process”. Ramokgopa told the gathering that it is in the “collective interest” to accelerate the renewable energy programme. “We must be ultra aggressive in the onboarding of renewables. It must be on steroids. But we can only achieve that if we resolve the issues that you are going…
In the week marking 100 days in office for the Government of National Unity (GNU), Home Affairs Minister, Dr Leon Schreiber, has announced a new five-year strategic vision to turn Home Affairs into a digital-first department during the 2024-2029 term of office. This new approach, dubbed Home Affairs @ home, envisions an ambitious new future, where no one has to visit a Home Affairs office in-person again to access routine services. The vision directs that over the next five years, all of the department’s services must become fully automated, digitised and offered online at the fingertips of clients from the…
A policy statement by President Cyril Ramaphosa has today resulted in the formation of a new state-owned petroleum company, the South African National Petroleum Company (SANPC). The SANPC has been formed following the merger of the Central Energy Fund (CEF) subsidiaries, iGas, PetroSA and the Strategic Fuel Fund. The SANPC is poised to become a leading player in the country’s energy sector ensuring energy security, driving new technologies, developing and enabling essential infrastructure, fostering strategic partnerships and propelling social and economic development. It is also expected to oversee strategic planning, coordination and governance of the country’s petroleum resources, contributing to…
A new PET (polyethylene terephthalate) processing facility, which can accommodate more plastic waste and is the first-of-its-kind technology for Africa, will come on stream in 2025. This was announced on the sidelines of the International Solid Waste Association’s (ISWA) annual conference where South Africa’s efforts to build a circular economy for post-consumer packaging was thrust into the spotlight. The ISWA’s annual conference saw the country’s most experienced producer responsibility organisation, Petco, and recycling partner, Extrupet, giving a site tour of the new PET processing facility. The facility, which houses the new R300 million project, will bring PET bottle-to-bottle recycling capability…