Malusi Gigaba

South Africa’s downgrading is no longer an "if" but a "when" - Citadel

By Mike van der Westhuizen, Portfolio Manager, Citadel<p>During his 2017 Medium Term Budget Policy Statement (MTBPS), Finance Minister Malusi Gigaba, …

Economy

How does Treasury get growth forecasts so wrong?

As recently as three years ago, Treasury expected the economy to grow by 2.8% this year (in February 2014, Pravin Gordhan forecast growth of 3.5%!). …

Economy

'Irrationality and fiscal irresponsibility' could hasten downgrade to junk - Wierzycka

Cape Town – Although ratings agencies are not supposed to make decisions about credit ratings based on the political situation in a country, the most …

Business (South Africa)

SA won’t save itself – but the IMF might

The blows just keep landing. Jacques Pauw’s riveting book, <i>The President’s Keepers</i>, describes (among many other lurid stories of corruption and …

Economics

Guptas milked Transnet billions, washed it through HSBC, other banks — report

<i>JOHANNESBURG — The Guptas effectively used a money laundering system to shift over R2bn ($160m) across the globe via international banks like HSBC</i> …

Corruption

Bonds weaken as market braces for Friday’s ratings announcement

South African bonds were weaker on Monday morning ahead of the expected ratings review on Friday by Moody’s and S&P Global Ratings.<p>The market was …

Business (South Africa)

Political popularity follows economic growth – RW Johnson

<b>RYK VAN NIEKERK:</b> RW Johnson joins me now; he’s a British journalist, political commentator and author of several books, including <i>How Long Will South</i> …

Economics

Sachs heads to Gauteng

Setumo Stone<p>Treasury budget head Michael Sachs will not be lost to the public service. After a great brouhaha about his resignation, Sachs is heading …

News (South Africa)

Maimane likens Zuma government to apartheid rule

Johannesburg - DA leader Mmusi Maimane has warned that “corruption is the new oppression in South Africa” and accused the ANC government under …

South Africa

Fin24.com | Davis: It is not about Moyane

The recommendation by the Davis Tax Committee (DTC) that the SA Revenue Service (Sars) commissioner “urgently” receive more oversight has nothing to …

Business (South Africa)

Michael Sachs to take up Gauteng govt role

JOHANNESBURG - National Treasury's deputy head of budget, Michael Sachs, has accepted an offer to join the Gauteng provincial government.<p>The move …

Johannesburg

OPINION: Lynne Brown remains defiant as her power unravels

JOHANNESBURG - Public Enterprises Minister Lynne Brown and her deputy Ben Martins on Tuesday issued two separate statements - hours apart - in which …

Eskom

Ratings agencies decision will be crucial in week ahead

JOHANNESBURG - The decision by ratings agencies, S&P Global Ratings and Moody’s Investors Service, on South Africa’s sovereign ratings on Friday will …

Economy

How to bulletproof your business in tough times

South Africa’s economic outlook for the next three years remains bleak. During his first Medium-Term Budget Policy Statement in October, new finance …

Business (South Africa)

Cosatu warns against using workers’ funds as a ‘blank cheque bail-out’ for SAA

Government should not consider using the Public Investment Corporation (PIC) to bail out South African Airways (SAA) until the airline is investment …

Business (South Africa)

Investment positioning ahead of the ANC conference

There will be few who disagree that South Africa faces significant economic and investment challenges in the days, months and indeed years …

Economy

Gauteng to fight on for system of open tenders

The Gauteng provincial government will approach the Constitutional Court about the open tender system to determine if it can enact legislation that …

Business (South Africa)

#ZumaQandA: Nothing illogical about Cabinet reshuffles, says president

Parliament - President Jacob Zuma on Thursday told MPs that he does not have to provide reasons for a Cabinet reshuffle and those looking for reasons …

Jacob Zuma

Fin24.com | Eskom powers ahead with nuclear plans, report shows

Despite terminating its nuclear new build request for information in 2017 following a court decision, Eskom is powering ahead with plans in …

Business (South Africa)

Forget about equity partner for SAA - analyst

Cape Town – Forget about finding an equity partner for cash-strapped national airline South African Airways (SAA).<p>Rather, first have a plan for the …

Business (South Africa)

IMF Sees Tough South Africa Budget Unless Fiscal Risk Sorted

South Africa will face more fiscal difficulties and higher financing costs should state-owned companies’ debt continue rising and if the nation’s …

Economy

Mr Gigaba, fancy designer suits are no substitute for financial skills – Errol Horwitz

<i>JOHANNESBURG — Finance Minister Malusi Gigaba is regularly criticised for focusing more on his fashion sense than the economy of the country. In this</i> …

South Africa

More oversight of SAA spending needed, Parliament hears

Cape Town - Currently the funding of South African Airways (SAA) has not been undertaken in a deficit-neutral manner, resulting in a projected R3.9bn …

Economy

Turkey facing economic crisis in 2018, global asset manager warns

High inflation in Turkey and a surge in foreign borrowing by its banks could plunge the country into crisis as soon as next year, according to asset …

Economy

DAVID MAYNIER: Cost review is urgent

Finance minister Malusi Gigaba’s maiden medium-term budget policy statement allowed for a full-scale budget blowout because he would not, apparently, …

OPINION: Have we done enough to avoid a downgrade?

JOHANNESBURG - On the evening of November 24, Moody’s and S&P Global will release their ratings review, providing us with the last economic sense …

Economy

What Is Happening at South Africa's Treasury?

The recent proposal by President Jacob Zuma for fee-free tertiary education which was allegedly forced on the national treasury, is what could have …

South Africa

MPs debate new revenue bill, lambast Zuma for ‘undermining budget process’

CAPE TOWN - President Jacob Zuma’s been accused in Parliament of undermining the budget process.Debating the Division of Revenue Amendment Bill on …

Jacob Zuma

Parliament: Captured? ‘I do not take instructions from anybody’ – Lynne Brown

Public Enterprises Minister Lynne Brown on Tuesday took issue after being described as “captured” before Parliament’s inquiry into Eskom State …

State Capture

What the hijacking of SA’s Treasury means for the economy

<i>SOUTH AFRICA has been rocked by news that President Jacob Zuma has bulldozed the country’s National Treasury to adopt a fee free higher education</i> …

Business (South Africa)