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South Africa

Eskom makes Be Inspired Awards finals

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Pretoria - Eskom’s Kusile power station has been named as a finalist in the 2013 Be Inspired Awards for its innovative use of a virtual 3D plant simulator, the power parastatal said on Wednesday.

AU asks ICC to defer trials of Kenyan President

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Nairobi - The African Union (AU) and Kenya have formally asked the United Nations Security Council (UNSC) to defer the trials of Kenya’s president and deputy president at the International Criminal Court (ICC) for one year.

MPs welcome cost-cutting measures set for govt

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Cape Town – MPs welcomed new cost-cutting measures announced by Finance Minister Pravin Gordhan today, which will affect ministers, MECs and executives in municipalities aimed at reducing wasteful expenditure.

SA, Niger recommits to strengthen ties

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Pretoria - South Africa and Niger have recommitted to strengthening bilateral relations between the two countries, as well as working together to promote peace and stability in Africa.

Gordhan announces measures to restore confidence

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Cape Town – Finance Minister Pravin Gordhan has taken a tough stance to bring about fiscal stability by announcing wide-ranging cost cutting measures that seek to curb wasteful spending and restore confidence in the local economy.

NDP framework to create more jobs

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Cape Town – The National Development Plan (NDP) is expected to off-set job creation to desired targets over the next three years, Finance Minister Pravin Gordhan said on Wednesday.

Economy is expected to grow: Gordhan

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Cape Town - Finance Minister Pravin Gordhan says the country’s economy is expected to grow by 1.4% to 3.5% over the next three years.

Gordhan allocates extra R239m to repair flood damage

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Cape Town – Government has allocated an additional R239 million to municipalities, provinces and national departments to help repair infrastructure damaged after widespread flooding last year and earlier this year, the Minister of Finance Pravin Gordhan has announced.

SA's debt is at sustainable levels – Gordhan

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Cape Town – The Minister of Finance, Pravin Gordhan, said today that South Africa’s debt-to-GDP ratio remains sustainable, despite having risen from 23% of Gross Domestic Product in 2007/8 to 39.3% of GDP in 2013/14.

Indirect grants to provinces, municipalities to grow by 70%

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Cape Town – Indirect grants to provinces and municipalities are projected to increase by 70% over the next three years – from R8.4 billion in the current financial year to R14.3 billion in 2016/17, the Minister of Finance Pravin Gorhan said today.

Radical cost-cutting measures set for government

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Cape Town – Public servants will no longer be allowed to use government-issued credit cards, while departments will have to put in place a plan to reduce their use of consultants – as part of a number of cost-cutting measures the government aims to introduce to reduce wasteful expenditure.

Tax revenue remains resilient - Gordhan

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Cape Town – The Minister of Finance Pravin Gordhan says despite the tougher economic climate, tax revenue collection has demonstrated resilience, with expected gross tax revenue only being revised down by R3 billion to R895 billion.