Black Industrialists projects attract R13.2bn
The 131 projects that have been approved under the Black Industrialists Scheme have resulted in increased investments and job creation. “The approval of these 131 projects of black entrepreneurs has leveraged over R13.2 billion of private-sector investment, about 9 500 new jobs created and 8 900 retained in a... Read more
SONA2019: Help for small businesses, start ups
President Cyril Ramaphosa says government will this year focus on significantly expanding the small business incubation programme. The incubation programme provides budding entrepreneurs with physical space, infrastructure and shared services, access to specialised knowledge, market linkages, training in the use of new technologies and access to finance. “The incubation... Read more
SONA 2019 budget cut by 47% amid economic conditions
Speaker of the National Assembly Baleka Mbete says the budget for next week’s State of the Nation Address (SONA) has been cut by 47% as Parliament remains committed to cutting costs. Mbete said this when the Presiding Officers of Parliament briefed the media at the National Assembly on the... Read more
Business insolvencies to increase by +2% in 2019
South Africa’s increase is in line with global insolvencies, which confirmed their upward trend from 2017 after seven consecutive years of sizable declines.  Indeed, Euler Herme’s Global Insolvency Index which covers 43 countries totaling 83% of global GDP is to post a +10% y/y increase for 2018. Overall, we... Read more
McKinsey shows Africa is the world’s next big growth market
A new book by McKinsey confirms that Africa is poised for economic acceleration, akin to the Asian boom. While other geographies are seeing incremental growth, global companies that get in early and join the African champions shaping the right strategies, can sustain double-digit profit growth over the next few decades.... Read more
Parliament approves Division of Revenue Amendment Bill
The National Assembly on Tuesday approved the Division of Revenue Amendment Bill, which will adjust the equitable share among the three spheres of government. The bill, which Finance Minister Tito Mboweni tabled when he presented his maiden Medium Term Budget Policy Statement (MTBPS) last month, also changes the specific... Read more
Govt welcomes audit results
Government has welcomed the 2017/18 financial year audit results of various departments, tabled in Parliament last week. The audit reports of the Audior General contribute to a culture of public sector accountability and this makes a difference in the lives of South African citizens. Over the past few years,... Read more
Petrol prices: Consumers in for a shock at petrol pumps
Consumers are in for a shock at the pumps – as the petrol price is set to rise by between 99 cents and a Rand as of Wednesday. The Department of Energy (DoE) on Monday announced that a litre of petrol 93 (ULP and LRP) will rise by 99 cents... Read more
Have your say on financial law bill
National Treasury has published the Financial Sector Laws Amendment Bill, which will strengthen the Reserve Bank to manage the orderly resolution or winding down of a failing financial institution for public consultation. Treasury published the Bill for public comment on Tuesday after its approval by Cabinet. “The amendments will... Read more
Lifestyle audits to strengthen financial disclosures, fight corruption
President Cyril Ramaphosa says lifestyle audits will strengthen the system of financial disclosures by Ministers and civil servants and also contribute greatly in the fight against corruption. He said this when he responded to oral questions in the National Council of Provinces on Tuesday. The President’s remarks come after... Read more