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Finance Minister Enoch Godongwana has announced that the National Treasury will embark on a significant overhaul of the nation’s budget process.This initiative aims to reassess the foundational assumptions that guide budget allocations, with the goal of optimising public expenditure and ensuring it aligns more closely with the current needs of…

On Wednesday, South Africa's Finance Minister, Enoch Godongwana delivered his 2025 Budget Speech. Below, finance experts react to the minister's speech.The Wealth Expert - Jurgen Eckmann, Wealth Manager at Consult by Momentum Jurgen said: While the biggest debate from today’s Budget will no doubt centre around the VAT increase, the reality is that the…

An Africa Expert Panel, chaired by former Finance Minister Trevor Manuel, has been established by South Africa's Presidency of the G20 from the beginning of December in an effort to raise initiatives to tackle the unprecedented debt crisis among many African countries.South Africa assumed the G20 Presidency from December 2024…

VAT will be raised by 0.5% this year and by 0.5% the year thereafter, but a range of measures have been proposed by the government to alleviate the impact of these increases on lower-income households.The National Treasury had earlier this year proposed a 2% increase from the current 15% VAT…

By Helmo PreussFinance Minister Enoch Godongwana took centre stage on Wednesday, tabling the 2025 Budget before the National Assembly with a clear message: South Africa’s state-owned enterprises are getting a lifeline, but not a free ride.Godongwana spotlighted logistics parastatal Transnet as a key focus of new public-private partnership (PPP) regulations…

During Finance Minister Enoch Godongwana's Budget Speech on Wednesday, he announced increased infrastructural spend by the government. Dr Andrew Golding, chief executive of the Pam Golding Property group said, “It was positive to note that the critical need for infrastructural improvements has been highlighted in the National Budget, as investment in sound…

By Helmo PreussEskom, South Africa’s state-owned power utility, continues to rely heavily on government support through a debt-relief arrangement, according to the National Treasury’s 2025 Budget.Finance Minister Enoch Godongwana on Wednesday tabled the 2025 Budget before the National Assembly, saying, "The Eskom debt relief arrangements are also effective and contribute…

The government's tax revenue collection fell only R16.7 billion short of expectations from last year's Budget forecast due in part to lower diesel import VAT receipts as load shedding subsided, and R1.85 trillion of tax revenue is expected to be realised.Although corporate tax receipts benefited from better-than-expected profitability, slower import…

The Healthy Living Alliance (HEALA) on Wednesday said it is deeply disappointed with Finance Minister Enoch Godongwana’s decision to capitulate to industry’s demands. The Alliance said, "The decision to hike the value-added tax (VAT) instead of increasing the Health Promotion Levy (HPL) flies in the face of scientific evidence, which shows…

As Finance Minister Enoch Godongwana announced a 100-basis-point increase in South Africa’s Value-Added Tax (VAT) over two years, a study from the UCT Liberty Institute of Strategic Marketing revealed a grim reality, many households are already struggling to make ends meet and rely on others for food before their next…