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KZN Finance recommits to improved financial governance

KZN Finance recommits to improved financial governance

KwaZulu-Natal Finance MEC, Francois Rodgers, has re-affirmed the Provincial Treasury’s mission to ensure improved financial governance despite financial constraints facing the Government of Provincial Unity (GPU).

Rodgers joined KwaZulu-Natal Premier, Thamsanqa Ntuli and other MECs at a media briefing held in Pietermaritzburg on Tuesday, to present a progress report on the seventh administration’s first 100 days in office under the GPU.

“Over the past four financial years, the [National] Treasury cut our equitable share by R66 billion, [and] over the next three years, a further R12 billion is expected to be cut. This is due to a number of factors, including the performance of the economy,” Rodgers said.

The MEC said a plan including several cost-containment measures has been put in place but added that this will not neglect the poorest of the poor.

“Our priority remains being a capable and ethical state that looks after our most vulnerable citizens,” Rodgers said.

Ntuli revealed that the provincial GPU had inherited a debt to service providers amounting to R10 billion, and this will require an average of R150 million budget cuts over the next seven years, starting from 2025/2026 financial year to have a positive cash flow.

However, Ntuli reiterated the GPU’s commitment to upholding service delivery priorities, despite financial limitations currently facing the province.

“The KZN Provincial Government has limited financial resources, meaning that we will not do everything that was promised within the anticipated timeframe. However, we will ensure that we improve integration at planning and implementation so that we use resource in a smart way.

“It is our commitment to implement revenue enhancement, wherein all departments should look at ways of improving their own revenue raising and collections, as this will increase the funds available for priority service delivery programmes,” the Premier said.

Rodgers will in the coming days, deliver his own first 100 days in office report, which will unpack further details on the state of province’s finances, as well as strategies and plans going forward on the part of Treasury.

The MEC has recommitted to ensuring that the four key spending areas, including job creation, building a sustainable economy, service delivery, and alleviating inequality and poverty, remain non-negotiable priorities. – SAnews.gov.za

GabiK
Tue, 10/08/2024 – 13:06

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KwaZulu-Natal Finance MEC, Francois Rodgers, has re-affirmed the Provincial Treasury’s mission to ensure improved financial governance despite financial constraints facing the Government of Provincial Unity (GPU).

Rodgers joined KwaZulu-Natal Premier, Thamsanqa Ntuli and other MECs at a media briefing held in Pietermaritzburg on Tuesday, to present a progress report on the seventh administration’s first 100 days in office under the GPU.

“Over the past four financial years, the [National] Treasury cut our equitable share by R66 billion, [and] over the next three years, a further R12 billion is expected to be cut. This is due to a number of factors, including the performance of the economy,” Rodgers said.

The MEC said a plan including several cost-containment measures has been put in place but added that this will not neglect the poorest of the poor.

“Our priority remains being a capable and ethical state that looks after our most vulnerable citizens,” Rodgers said.

Ntuli revealed that the provincial GPU had inherited a debt to service providers amounting to R10 billion, and this will require an average of R150 million budget cuts over the next seven years, starting from 2025/2026 financial year to have a positive cash flow.

However, Ntuli reiterated the GPU’s commitment to upholding service delivery priorities, despite financial limitations currently facing the province.

“The KZN Provincial Government has limited financial resources, meaning that we will not do everything that was promised within the anticipated timeframe. However, we will ensure that we improve integration at planning and implementation so that we use resource in a smart way.

“It is our commitment to implement revenue enhancement, wherein all departments should look at ways of improving their own revenue raising and collections, as this will increase the funds available for priority service delivery programmes,” the Premier said.

Rodgers will in the coming days, deliver his own first 100 days in office report, which will unpack further details on the state of province’s finances, as well as strategies and plans going forward on the part of Treasury.

The MEC has recommitted to ensuring that the four key spending areas, including job creation, building a sustainable economy, service delivery, and alleviating inequality and poverty, remain non-negotiable priorities. – SAnews.gov.za

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