Author: Gugu Lourie

The Democratic Alliance (DA) has firmly rejected the ANC’s proposed budget, citing concerns over permanent tax increases and a lack of economic reforms. In light of new and persistent spending pressures in health, education, transport and security, government has decided to raise value-added tax (VAT) by 0.5 percentage points in each of the next two years, which will bring VAT to 16% in the 2026/27 financial year. “These have to do with the government properly fulfilling its service delivery mandate. After careful consideration, the government has decided to fund these. Deferring the funding of these sectors further would compromise the…

Consolidated government spending is expected to increase from R2.4 trillion in 2024/25 to R2.83 trillion in 2027/28, at an annual average of 5.6%. Consolidated expenditure will reach R2.59 trillion in 2025/26. This according to National Treasury’s 2025 Budget Review document. The majority of that spend will fund the social wage, which includes spend on health, education, social protection (grants), community development and employment programmes. “Over the medium-term, economic development is the fastest-growing function at an annual average rate of 8.1%, driven by higher allocations to infrastructure projects. “Spending is highly redistributive, with the social wage making up 61% of total…

Cape Town has become the first city in South Africa to deploy advanced pole manipulator trucks, designed to enhance streetlight maintenance and repairs. These state-of-the-art vehicles, equipped with cutting-edge technology, are set to transform the efficiency and safety of streetlight operations across the metro. The City maintains over 245,000 streetlights, with plans to invest over R63 million in its fleet of aerial platform trucks, crane trucks, and light motor vehicles in the new financial year. During a recent demonstration in Epping, Alderman Xanthea Limberg, the City’s Mayoral Committee Member for Energy, highlighted the capabilities of the new 26-tonne pole manipulator…

The moment we’ve all been waiting for is finally here! TechFinancials, in collaboration with the Empire Partner Foundation, today kicks off the TechFinancials Q&A Competition, a platform for brilliant minds to share their ideas and win big! Do you have a vision for a better home, community, or country? Here’s your chance to turn your ideas into reality and get rewarded for it! The Empire Partner Foundation and TechFinancials believe in the power of innovation and the ability of individuals to be the change agents of tomorrow. That’s why they’ve teamed up to create this exciting competition, where your insights…

Butterworth, also known as Gcuwa, a town in the Eastern Cape Province, is poised for a major transformation with the development of the R352 million Gcuwa Mall. Strategically located along the N2 in the Amathole District, this state-of-the-art retail hub will serve as a central economic driver for the greater Mnquma Municipality and beyond. The first phase of the project features a 17,000m² gross leasable area, including a modern retail centre, a drive-thru facility, a newly constructed taxi rank with kiosks for informal traders, and essential road infrastructure upgrades. Plans are already in place to expand the mall to 25,000m² in the near…

Johannesburg is set to welcome a game-changing addition to its urban landscape as Attacq, a leading property developer, announces plans for a state-of-the-art conference centre and hotel in the heart of Waterfall City. With a staggering R2.75 billion allocated for new developments, this project promises to redefine the city’s commercial and hospitality sectors. The crown jewel of the development is the 15,000 sqm Waterfall City Conference Centre and Hotel, designed to become a premier destination for business and leisure travelers alike. But that’s not all – Attacq’s ambitious plans include Gateway East, an innovative 11,700 sqm collaboration hub featuring a 1,500…

Attacq, the property group behind Mall of Africa and Mooirivier Mall, has partnered with Vantage Data Centres in a 50/50 joint venture to construct a 10,363m² “dark shell” structure. This project forms the first half of Phase 2 of a larger data centre campus being developed in collaboration with Vantage. The double-story building will feature four data halls, with construction already underway: Projected initial total electrical load of 12MW ramping to 16MW over time Majority of the building will contain data processing rooms Air-conditioning supporting these data halls Initially 6 electrical power generators totalling circa 14MW 48-hour backup fuel cap…

Attacq, the property group behind renowned retail hubs like Mall of Africa and Mooirivier Mall, is advancing its water resilience strategy through smart technology and backup solutions. The company is investing R10 million to install 749 smart water meters across its portfolio by June 2025, integrating them into its Smart Utility Hub (SUH) for real-time monitoring of water and energy consumption. The SUH platform enables data-driven decision-making by tracking water usage, renewable energy production from rooftop PV systems, and generator outputs. This digital integration enhances operational efficiency and resource management, ensuring sustainable operations across Attacq’s properties, which include Eikestad Mall,…

Eskom has successfully restored Koeberg Nuclear Power Station’s Unit 2 to service following an unplanned outage caused by a steam leak on the reheat system. The unit was brought back online on Sunday, 9 March, at 18:17 and is currently operating at 646MW, with plans to ramp up to its full capacity of 930MW in line with operational protocols. Eskom confirmed that the issue was resolved using robust nuclear safety protocols, ensuring a safe return to service without compromising safety standards. “Koeberg is a key contributor as part of Eskom’s energy generation mix and stabilising electricity supply in South Africa…

TechFinancials, in collaboration with Empire Partner Foundation (EPF), is excited to introduce the TechFinancials Q&As: a pioneering initiative designed to ignite debate and innovation among South Africa’s youth. Empowering Young Innovators Over the next nine months, young minds will have the opportunity to share insights on which sectors need the most innovation and how technology can drive meaningful change in jobs, services, and knowledge transfer. What is TechFinancials Q&A? This is more than just a competition – it’s a platform for young innovators to voice their ideas and shape South Africa’s future. Each month, participants will engage with thought-provoking questions…