Treasury announces COVID-19 tax measures

Submitted by admin on Mon, 03/30/2020 - 11:21

Sunday, March 29, 2020

Finance Minister Tito Mboweni on Sunday announced exceptional tax measures to counter the impact of the Coronavirus (COVID-19) pandemic.

“The Minister of Finance has announced the following exceptional tax measures as part of the fiscal package outlined by President Cyril Ramaphosa on 23 March 2020 in his speech on the Escalation of Measures to Combat COVID-19,” said the Ministry of Finance.

Call for South Africans to work together in turning economy around

Submitted by admin on Mon, 03/30/2020 - 11:10

Saturday, March 28, 2020

Government has urged all South Africans to unite, remain positive and continue to work hand-in-hand to turn the economy around.

This comes after Moody’s decision to downgrade South Africa’s long term foreign and local currency debt ratings to ‘Ba1’ from ‘Baa3’ and maintain the negative outlook.

South Africa’s credit ratings by Moody’s are now one notch below investment grade.

CIPC to grant essential service business operation approval

Submitted by admin on Thu, 03/26/2020 - 13:52

Thursday, March 26, 2020

All businesses that will be allowed to provide essential services during the 21-day COVID-19 lockdown will be required to seek approval from the Department of Trade, Industry and Competition (the DTIC).

This is in terms of the National State of Disaster gazetted regulations which were published on Wednesday by Cooperative Governance and Traditional Affairs Minister Nkosazana Dlamini-Zuma.

CoronaVirus Gets Lockdown Support

Submitted by admin on Wed, 03/25/2020 - 16:26

Tuesday, March 24, 2020

South Africa is bracing for its first government-imposed lockdown as part of stringent measures to slow down the spread of Coronavirus.

On Monday night, President Cyril Ramaphosa announced government’s decision to enforce a 21-day lockdown, which will take effect at midnight on Thursday.

The televised announcement has awoken many across the Republic to the seriousness of the pandemic, which has claimed over 17 000 lives globally.

UIF, CF safety net intervention details

Submitted by admin on Wed, 03/25/2020 - 14:44

Tuesday, March 24, 2020

Government has unveiled employment related plans expected to soften the blow of the COVID-19 countrywide lockdown, on workers and firms.

During the lockdown, which will come into effect on Thursday midnight until midnight 16 April, only essential services will be able to perform work as normal.

“A large cohort of the workers will remain at work in the emergency services,” said Employment and Labour Minister Thulas Nxesi during a press briefing on Tuesday.

Lack of skilled artisans hurting economic growth – survey

Submitted by admin on Tue, 04/30/2019 - 20:47

Few young people take up training in the 13 key critical areas of the artisan economy, as most prefer going to university after high school.

While South Africa’s unemployment rate of 27.1% in the fourth quarter of 2018 reflected a figure of 6.14 million jobless people – with youth unemployment above 50% – lack of skilled artisans has been singled out by experts as a major barrier to job creation and economic growth.


Submitted by admin on Tue, 04/30/2019 - 15:18

Small Business Development Department Minister Lindiwe Zulu placed the employees on suspension for their alleged involvement in corruption and fraud.

Nine officials from the Small Business Development Department have been suspended.

Minister Lindiwe Zulu placed the employees on suspension for their alleged involvement in corruption and fraud.

Eskom scores R6.8bn loan from Brics bank for Medupi power plant

Submitted by admin on Wed, 04/03/2019 - 20:02

This is separate from the US$180 million loan agreement signed on Monday to connect 670MW of renewable energy projects to the national grid.

The New Development Bank (NDB) will provide a project loan of US$480 million (about R6.8 billion) to Eskom for environmental protection project for Medupi Thermal Power Plant, National Treasury said on Tuesday.

Public Enterprises Minister Pravin Gordhan recently said that the Medupi and Kusile coal-fired power plants were “badly designed and badly constructed”.