South Africa

African Union Chairperson, President Cyril Ramaphosa, has called on African leaders to support efforts on the continent to develop a vaccine for COVID-19.

Finance Minister Tito Mboweni has announced a zero-budgeting approach that will see government cutting spending on programmes it can no longer afford.

Finance Minister Tito Mboweni says the National Treasury has set aside R100 billion to support government’s response to job creation.

In preparing the 2020 Supplementary Budget, National Treasury and national departments have conceded that certain projects and programmes will have to be postponed from the 2020/21 financial year.

Finance Minister Tito Mboweni says government expects to miss its tax revenue target by over R300 billion this year.

The National Treasury has revised the 2020 Budget national share from R758 billion to R790 billion, Finance Minister Tito Mboweni has revealed while delivering his Supplementary Budget on Wednesday.

Finance Minister Tito Mboweni says as a result of the COVID-19 pandemic, the country’s economy is projected to contract by 7.2% in 2020.

While the COVID-19 pandemic is likely to derail government expenditure on infrastructure projects, Finance Minister Tito Mboweni has told Parliament that the State would have to resume these post-lockdown.

As the country has moved from a hard lockdown to advanced level three lockdown and most of the economy is opening up again, the COVID-19 loan guarantee scheme will be expanded to help businesses restart.

Finance Minister Tito Mboweni says government will need to borrow US$7 billion from international finance institutions as one of the measures to cover the budget hole brought about by South Africa’s response to the COVID-19 pandemic.

National Treasury has set aside R21.5 billion for COVID‐19‐related healthcare spending for health and frontline services, as government continues to treat and contain the spread of the pandemic.

The Department of Water and Sanitation (DWS) in Gauteng has increased the number of water tanks to water stressed communities to 2 244, as government eases the lockdown regulations under alert level 3.

The Department of Public Enterprises (DPE) has urged creditors, employees and other stakeholders of South African Airways (SAA) to vote in support of the business rescue plan of the airline to avoid liquation.

All eyes will be on Finance Minister Tito Mboweni this afternoon when he delivers the Supplementary Budget Speech to Parliament.

Public Service Commission Commissioner, Michael Seloane, says the PSC is concerned about the continued failure by some government departments to put effective systems in place to ensure suppliers are paid on time.