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President welcomes training for traditional leaders to act as change agents
President welcomes training for traditional leaders to act as change agents
President Cyril Ramaphosa has welcomed the partnership between the Department of Cooperative Governance and Traditional Affairs and the National School of Government (NSG) to provide training on, among other things, facilitating socio-economic development for traditional communities.
“The programme is aimed at empowering traditional leaders to act as change agents in their communities, and to transfer new knowledge and skills so we can initiate sustainable economic interventions in our rural areas,” said the President.
The President was delivering the keynote address at the annual official opening of the National House of Traditional and Khoi-San Leaders (NHTKL) at the National Council of Provinces (NCOP) Chamber in Cape Town, on Thursday.
“We know that capacity building is essential if we are to enhance the role traditional leaders play in development,” said the President.
He said the goal was an active rural citizenry with traditional leaders at the helm.
The Art of Facilitating Socio-Economic Development for Traditional Leaders Programme is part of the suite of funded programmes offered by the NSG for public servants to attend free.
These courses are delivered by the NSG as part of interventions to professionalise the public sector and to improve performance in all spheres of government.
The programme seeks to support and empower Traditional Leaders to act as economic change agents in their communities and be able to create sustainable jobs and create wealth while also building an active rural citizenry who participate in and support economic development.
"It will provide the Traditional Leaders with knowledge and skills to identify and utilize local natural resources in an environmentally sustainable way.
"It is aimed at capacitating Traditional Leaders with knowledge, skills, attitudes, and practical capabilities to engage and empower communities to use the available opportunities for their own socio-economic development. The programme supports a range of role-players who work closely with communities, that are, volunteers from the community, Community Development Workers, government officials and Traditional Leaders," the NSG had said in an earlier statement.
The Programme assists Traditional Leaders, amongst others, to:
- Act on their roles and responsibilities in terms of the Constitution, related legislation, and the NDP, to realise the socio-economic rights of their poor communities through paying attention to their economic and developmental needs.
- Recognise that their primary function is to promote socio-economic development, good governance, and wealth creation interventions in their areas of jurisdiction.
- Demonstrate commitment and passion for working in a collaborative and participatory way with communities and other strategic partners.
- Understand and apply protocols for working with a range of community stakeholders (community representatives, government officials, ward councillors and community development workers) in a respectful and participatory manner to further the socio-economic objectives of their communities.
- Demonstrate and apply mentoring skills needed to support, empower, and mentor communities in sustainable developments activities.
- Make communities aware of their Constitutional rights and government responsibility in granting access to services.
- Apply Ubuntu and Afrika-centric principles and methods for dealing with community stakeholders.
Elections
Meanwhile, the President urged traditional leaders to continue to encourage all eligible voters to participate in the National and Provincial Elections on 29 May 2024.
“As we have done before, we call on traditional leaders to actively promote free and fair campaigning, and to ensure that all voters can exercise their democratic right,” he said. – SAnews.gov.za
Janine
Thu, 02/22/2024 - 16:14
219 views
President hails traditional leaders for flood relief efforts
President hails traditional leaders for flood relief efforts
President Cyril Ramaphosa has praised the efforts of uMgogodla kaZulu, a group comprising the spouses of traditional leaders and women traditional leaders, for their commendable work in addressing the challenges posed by the recent floods in KwaZulu-Natal.
Addressing the annual official opening of the National House of Traditional and Khoi-San Leaders (NHTKL) in Cape Town on Thursday, the President said it was pleasing to note that the institution of traditional and Khoi-San leadership is playing its role in assisting communities.
The President told the traditional and Khoi-San leaders that climate change is a growing concern in South Africa. He said the recent flooding, together with other extreme weather events, are a stark reminder that the country cannot be complacent about this grave threat to both lives and livelihoods.
“It is pleasing to note that the institution of traditional and Khoi-San leadership is once again playing its role to assist communities. I specifically wish to commend the work done by the structure of spouses and female traditional leaders, called uMgogodla kaZulu, during the floods that engulfed KwaZulu-Natal.
“The Ondlunkulu stood up, in partnership with Al-Imdaad, Old Mutual, the Princess Gabo and Kaizer Junior Foundations, and others to help those who were affected by floods. We appreciate this valuable work,” the President said.
President Ramaphosa said he has been advised that several other provinces have formalised the structures of spouses and women traditional leaders of amaKhosi.
He implored the House to continue working together with provincial Houses of Traditional and Khoi-San Leaders to ensure that such structures are established and capacitated.
30 Years of Democracy
In his State of the Nation Address delivered earlier this month, the President reflected on the journey South Africa has traversed over the past 30 years since attaining freedom.
"As a nation, we can also be proud of the journey we have travelled, according to the institution of traditional leadership and the stature it deserves.
“Today, our Kings are recognised as Kings, as opposed to Paramount Chiefs, a term which colonial and apartheid rule introduced to make it clear that in their minds the real Kings were only those found in Europe.
“Today, we have a National House of Traditional and Khoi-San Leaders that plays an active and meaningful role in our national life,” the President said.
President Ramaphosa expressed the wish that more Khoi-San leaders will be brought into the fold and be formally recognised under the Traditional and Khoi-San Leadership Act.
He said that the Commission on Khoi-San Matters has been appointed to receive and assess applications for recognition and make recommendations to the Minister of Cooperative Governance and Traditional Affairs.
While the process is taking longer than was initially envisaged, the President has appealed that the Commission be allowed the space to continue with this complex historical mission that they have been assigned.
Addressing unemployment
The President told the House that they have a shared responsibility to work together to address the country’s unemployment crisis, particularly among young people.
He highlighted that the Presidential Youth Employment Intervention, the National Youth Service and the Youth Employment Service are just some of the initiatives government is implementing that are making a difference.
“I call on this House to play an active role in the ongoing process of recruiting young people into the National Rural Youth Service Corps that is being coordinated by the Department of Agriculture, Land Reform and Rural Development.
“The InvestRural blueprint handed over to me by the former Chairperson of this House, the late iNkosi Mahlangu, is being fused into government programmes.
“The training of young people by the Department of Agriculture, Land Reform and Rural Development is a practical example of this. Another is the work being done by the Department of Traditional Affairs in partnership with the Department of Mineral Resources and Energy to streamline and integrate Social Labour Plans into industry operations,” he said.
The President further told the House that the Welisizwe Rural Bridges Programme coordinated by the Department of Public Works and Infrastructure is yet another example of positive and meaningful change being brought to rural areas. Just last month he attended the launch of one of these bridges in KwaZulu-Natal.
“To witness the difference these bridges are making in the lives of rural communities, especially for young learners who need to cross rivers to get to school, is remarkable,” he said.
Capacity building
The President has emphasised that capacity building is essential if the country is to enhance the role traditional leaders play in development.
In this regard, he welcomed the partnership between the Department of Traditional Affairs and the National School of Government to provide training on, among others, facilitating socio-economic development for traditional communities.
The programme is aimed at empowering traditional leaders to act as change agents in their communities, and to transfer new knowledge and skills for the activation of sustainable economic interventions in rural areas.
“Our goal is an active rural citizenry, with our traditional leaders at the helm. The issue of transferring communal land to traditional councils is one of great interest to this House.
“As government, we are in the process of finalising the bill on communal land, which will be followed by extensive consultations.
“I know that this process is taking longer than expected, but democracy requires that we give society a voice in matters that concern them,” he said.
Initiation
Turning to the challenges facing initiation, President Ramaphosa said that these should be decisively addressed.
“We cannot continue to have customary initiation being turned into a harmful practice.
“We need to do all in our powers as government, communities, traditional leaders, the National Initiation Oversight Committee and provincial structures to put to an end to these unnecessary and entirely avoidable deaths and injuries,” he said.
The President further urged the House to continue to monitor and guide provinces and various local houses on the provisions of the Customary Initiation Act.
“We must live up to the slogan of 'Mabaye Bephila, Babuye Baphila',” he said.
Traditional Courts Act
The President told the House that he has assented to the Traditional Courts Act and will soon be proclaiming the date on which it comes into effect.
In the meantime, he said, the Department of Justice and Constitutional Development and the Department of Traditional Affairs have started with some of the preparatory work that will facilitate implementation.
This includes visiting some of the traditional councils to further discuss their approaches to alternative dispute resolution and the resources they deploy in this regard. The President added that this is a matter on which they have finally made good progress.
On concerns expressed by the House with regards to involving traditional leadership more in the work of the Inter-Ministerial task Team, President Ramaphosa said that he, along with the Deputy President, is seized with the matter of ensuring that members of this House are invited to workstream meetings and are able to participate more fully.
Exercise your right to vote
The President said on 29 May, South Africans will be going to the polls to vote in the seventh democratic elections for national and provincial government.
As the country prepares for this historic occasion, President Ramaphosa has once again urged traditional leaders to continue to encourage all eligible voters to register and participate in these elections.
“As we have done before, we call on traditional leaders to actively promote free and fair campaigning, and to ensure that all voters can exercise their democratic right.
“May you remain with the spirit of our forebears, who never retreated when challenges were facing them. Working side by side, we will move forward,” he said. – SAnews.gov.za
DikelediM
Thu, 02/22/2024 - 14:04
272 views
President condemns the killing of traditional leaders
President condemns the killing of traditional leaders
President Cyril Ramaphosa has condemned in the strongest terms the rise in the killing of traditional leaders, especially in KwaZulu-Natal.
The President delivered the keynote address at the annual official opening of the National House of Traditional and Khoi-San Leaders (NHTKL) at the National Council of Provinces (NCOP) Chamber in Cape Town on Thursday.
“Our law enforcement agencies are hard at work to ensure that those responsible are brought to book. On behalf of government, I wish to pass our deepest condolences to all families for the loss of their loved ones and to you for the loss of your colleagues.
“May their souls and those of other traditional leaders who passed on since the last opening of the House continue to rest in peace,” President Ramaphosa said.
Last year, KwaZulu-Natal Premier Nomusa Dube-Ncube condemned the killings calling them an attack on the State as they threaten to destabilise an institution critical to the stability and order of society.
In a meeting with the South African Police Service in January 2022, it emerged that the police were investigating 51 murder cases going back to 2012, and at the time 30 people had been arrested, while 18 cases were still pending in court.
“As government we remain committed to working with the institution of traditional leadership in pursuit of progress and development. We did so extremely successfully during the COVID-19 pandemic, during recent floods, and in a number of other areas.”
He said they were working together to combat gender-based violence, a scourge that is tearing communities apart.
“I have just returned from the annual Summit of Heads of State and Government of the African Union, where we participated in a high-level event on promoting positive masculinity across our continent.
“We need to be doing more in our communities to bring men into this effort, and focus on prevention and awareness raising,” the President said.
Personally, he said he has been engaging with young men through peer dialogues where they are able to not only speak openly about what masculinity and manhood means to them, but also commit themselves to playing their part to end gender-based violence.
The President called on male traditional leaders to be part of this effort and to start their own men’s dialogues.
“The influence and stature you bring to bear can and does make a difference, given the role that cultural norms and practices often play in perpetuating violence against women and girls,” he said.
President Ramaphosa pointed out that drug abuse is another serious challenge in communities.
He said it was encouraging to note that the House was supporting the work of the Central Drug Authority. “I urge you as this House to encourage provinces and local Houses to establish relationships with community organisations to fight the scourge of drugs together,” he said. – SAnews.gov.za
DikelediM
Thu, 02/22/2024 - 14:01
145 views
Nedbank helping youth to unlock their X with financial education
As the university year begins, there is much excitement in the air with a new student cohort starting first year and attending lectures for the first time. Now is a good time for students to start setting their financial goals for the future—a solid financial plan backed up by good money habits can pave the …
Challenges can be overcome by working together – Enoch Godongwana
Challenges can be overcome by working together - Enoch Godongwana
Minister of Finance Enoch Godongwana has called on South Africans – both citizens and private business – to work together with government to resolve the challenges the country faces.
The Minister was speaking during a post-Budget Speech discussion held in Cape Town on Thursday morning.
In his Budget Speech on Wednesday, Godongwana highlighted electricity and logistics challenges as two of the key issues facing the economy.
“We need to work together to address these challenges. For instance, there are a number of business people who have come forward, business associations that have come forward and bringing in talent to work with government in what is called NECOM [National Energy Crisis Committee] to address the electricity challenges.
“Building on that template, business has come forward, working with government, and developed what is called now the [Freight] Logistics Roadmap. We need, as South Africans and even as government, not to be arrogant and accept solutions from different people across the board,” he said.
Godongwana said on crime, government has brought in business “to work with us on how we can deal with crime”.
In a frank discussion regarding the country’s challenges, the Minister said government takes responsibility for some issues.
“We have got challenges. The government has got to take the responsibility for some of these challenges. I can’t say I’m happy with the fact that we’ve not been able to deal with the electricity challenge for 16 years. It is a fundamental flaw…which has cost the economy substantially,” he said.
On the question of why National Treasury left most taxes – barring sin taxes and carbon tax – unchanged, the Minister said solutions to broadening revenue lie elsewhere.
“Our tax strategy is to broaden the base than increasing taxes. If you…compare us to our peers, tax to GDP, we are not comparing favourably. So…we should not be working hard to say how much should we tax people more; we should be saying how do we broaden that tax base.
“There are a number of ways of doing it and first, fundamentally, is to grow the economy but we can only grow the economy if we bring all of our solutions and I think we can do it working together,” he said. – SAnews.gov.za
NeoB
Thu, 02/22/2024 - 11:37
167 views
Exploring South Africas Premier Living Spaces
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Government ups the ante against crime
Government ups the ante against crime
Some R765 billion has been allocated to the security cluster to up the ante in Government's fight against crime and to support the defence forces.
This was revealed during Finance Minister Enoch Godongwana’s Budget Speech delivered in Cape Town on Wednesday.
“In the coming financial year, 10 000 new police recruits will be trained. As part of the country’s responsibility to promote regional peace and stability, this budget will also allocate funding for the deployment of soldiers in Mozambique and the DRC.
“Work on costing and identifying the needs for these critical missions will continue throughout the year and funding will be allocated as such.
“R628 million has been allocated to the Department of Justice and Constitutional Development [DJCOD] for the implementation of FATF [Financial Action Task Force] and State Capture Commission recommendations - bringing the total funding to these efforts to R2.3 billion,” he said.
Godongwana added that some R2.9 billion from the Criminal Asset Recovery Account is being used to combat illegal mining and other priority crimes “with 60% allocated for police deployments, including vehicle procurement”.
In the 2024 Budget Review, National Treasury explained that the total allocation includes “additional allocations of R39.4 billion to selected departments to cover the carry‐through costs of the 2023/24 public‐service wage increase”.
“Of this, R22 billion is allocated to the Department of Police. To improve efficiency, the department will rationalise its organisational structure, align police districts with municipal districts, implement cost containment measures and improve operations. It is also fostering strategic partnerships with local communities to enhance safety.
“The [DJCOD] is allocated R627.8 million over the medium term to implement recommendations from the [FATF] and the State Capture Commission. For land rights representation, R156 million is shifted from the Department of Agriculture, Land Reform and Rural Development to Legal Aid South Africa.
“The Department of Defence will prioritise acquiring vehicles and technology to safeguard the country’s borders. An amount of R1.9 billion is reallocated within the Department of Defence for day‐to‐day maintenance and emergency repairs.
“Measures are being implemented to reduce the pressure on employee compensation and sustain critical defence capabilities,” the department said. – SAnews.gov.za
NeoB
Wed, 02/21/2024 - 14:11
536 views
Economic growth to stay low over the next three years
Economic growth to stay low over the next three years
South Africa’s economy is expected to grow at some 1.6% over the next three years, with real Gross Domestic Product (GDP) reaching 0.6% in 2023.
“Despite the improved global outlook for 2024, South Africa’s near-term growth remains hamstrung by lower commodity prices and structural constraints. We estimate real GDP growth of 0.6% in 2023. This is [revised] down from 0.8% growth estimated during the 2023 MTBPS [Medium Term Budget Policy Statement].
“The revision is due to weaker-than-expected outcomes in the third quarter of 2023, particularly in household consumption and fixed investment,” said Finance Minister Enoch Godongwana, who delivered the Budget Speech at the Cape Town City Hall on Wednesday.
Godongwana said despite this, between 2024 and 2026, growth is projected to average 1.6%.
“The growth outlook is supported by the expected easing of power cuts as new energy projects begin production, and as lower inflation supports household consumption and credit extension.
“But, there are also risks to the domestic outlook. These include persistent constraints in electricity supply, freight rail and ports, and a high sovereign credit risk. Our challenge… is that the size of the pie is not growing fast enough to meet our developmental needs,” he said.
National Treasury’s 2024 Budget Review explained that load shedding and challenges in freight rail and the ports “continue to disrupt economic activity and limit the country’s export potential”.
“Comprehensive reforms are underway in these sectors, although it will take time to see a recovery in growth. Household consumption is under pressure from high living costs, and investment remains low due to weak confidence and challenging business conditions linked to structural constraints.
“To turn the tide and raise economic growth sustainably, government is prioritising energy and logistics reforms, along with measures to arrest the decline in state capacity.
“Successful efforts to improve the fiscal position, complete structural reforms and bolster the capacity of the State will, in combination, reduce borrowing costs, raise confidence, increase investment and employment, and accelerate economic growth,” National Treasury said.
The department said as reforms begin to bear fruit, GDP will be on the rise.
“[This] as the frequency of power cuts declines, lower inflation supports household consumption, and employment and credit extension recover gradually. New energy projects will improve fixed investment and business sentiment.
“To accelerate GDP growth after an extended period of weak economic performance, South Africa needs large‐scale private investment. Government is working to improve the fiscal position, complete structural reforms and bolster the capacity of the State to reduce borrowing costs, raise confidence, increase investment and put the economy on a higher, job‐creating growth path,” Treasury said.
Meanwhile, global growth is forecast higher at some 3.1% for 2024 and 3.2% for 2025.
“The moderate improvement is due to better‐than‐expected growth in the second half of 2023, particularly in the United States and several large emerging market economies, as well as fiscal support for disaster relief in China.
“Robust US economic growth has partially offset weaker‐than‐expected outcomes in the Euro area, which, nevertheless, is expected to recover gradually. Commodity prices are expected to continue to decline in 2024 and 2025,” Treasury said. – SAnews.gov.za
NeoB
Wed, 02/21/2024 - 14:13
507 views
Government raises US$3.3 billion to support climate change initiatives
Government raises US$3.3 billion to support climate change initiatives
Government has raised US$3.3 billion so far from Multilateral Development Banks and International Finance Institutions to support climate change, energy, and just transition objectives.
Delivering the 2024 National Budget Speech, Finance Minister Enoch Godongwana said National Treasury plays a crucial role in mobilising resources, designing incentives, and influencing policy to mainstream climate change.
“As climate-related disasters intensify, a multi-layered risk-based approach is being developed to manage the associated fiscal risks. This considers various funding instruments from grants to contingency funds, including the Climate Change Response Fund, depending on the incidence and intensity of the disaster event.
“The National Treasury is reviewing disaster response grants to improve efficiency and create incentives for disaster planning, preparedness and risk reduction. It is also developing a climate-budget tagging framework to influence policy, planning, and budget decisions, by tracking climate-related expenditures in public budgets,” the Minister said on Wednesday in Parliament.
He said the support of concessional funding providers, such as Multilateral Development Banks, is going a long way to support the country’s climate adaptation, mitigation, energy transition, and sustainability initiatives.
“Crowding-in the private sector is necessary to managing the climate disaster funds. We are actively participating in climate negotiations, aligning with the government's advocacy for reforming multilateral finance institutions.
“We are also working with eight municipalities to adapt and mitigate the effects of climate and weather-related events, by providing technical assistance for climate-responsive capital projects,” the Minister said.
According to the 2024 National Treasury Budget Review, the department is finalising a disaster risk financing strategy, centred on innovative financing and risk transfer to effectively mitigate climate impacts.
The strategy will boost state capacity to fund disaster recovery efforts and expand insurance mechanisms to protect against the financial strain of natural disasters.
“Recent years have seen a significant increase in extreme weather events and economic losses amid mounting concern over the effects of climate change. Between 1980 and 2021, 86 notable weather-related disasters have been recorded, affecting more than 22 million people and causing economic losses of about R113 billion.
“The 2017 Knysna wildfires, Cape Town (2015–2018) and Eastern Cape (2015–2020) droughts and KwaZulu-Natal floods in 2022 have heavily affected agriculture and tourism, with negative implications for government spending and revenue.
“These events exacerbate economic inequality, particularly in poor communities that are highly exposed to droughts, floods and wildfires and their consequences,” the document said.
Government incentivises electric vehicles producers
In an effort to encourage the production of electric vehicles in South Africa, government will introduce an investment allowance for new investments, beginning 1 March 2026.
This will allow producers to claim 150% of qualifying investment spending on electric and hydrogen-powered vehicles in the first year.
“The incentive will be implemented in addition to the existing support under the Automotive Production Development Programme. Government has also reprioritised R964 million over the medium term to support the transition to electric vehicles,” the Minister said.
The Electric Vehicles White Paper outlines government’s strategy to transition towards a broader new energy vehicle production and consumption in South Africa, starting with electric vehicles.
It aims to transition the automotive industry from primarily producing internal combustion engine vehicles to a dual platform that includes electric vehicles, by 2035. – SAnews.gov.za
nosihle
Wed, 02/21/2024 - 14:14
507 views
Load shedding, logistics hamper growth
Load shedding, logistics hamper growth
Finance Minister Enoch Godongwana says although structural reforms have made “good progress”, load shedding and freight rail challenges remain an obstacle.
He was speaking during the Budget Speech held at the Cape Town City Hall on Wednesday.
“We have embarked on a broad structural reform agenda that aims to address the challenges that have held back our growth.
“This agenda has included areas like electricity, logistics, water, telecommunications and visa reforms. The Budget Review details the good progress that has been made in these areas over the past few years. But, obstacles remain and let me focus on the two largest of these,” Godongwana said.
Godongwana said the rolling power cuts “disrupt production, operations and livelihoods”.
“Reforming the sector will result in long-term energy security. We took the necessary decisions in the past five years and these are bearing fruit.
“To promote further investments in renewable energy, this budget proposes an increase in the limit for renewable energy projects that can qualify for the carbon offsets regime, from 15 megawatts to 30 megawatts,” he said.
He revealed that in the coming week, the report on the independent review of Eskom’s coal-fired power stations will be released.
“The review was done to inform part of the conditions attached to the debt relief plan. The recommendations will feed into Eskom’s corporate plans to bolster accountability and oversight.
“It is through the combination of private investment in new energy projects, rooftop solar installations and improvements in Eskom’s generation fleet that load shedding will reduce, and reliability and security of supply improve,” he said.
READ | Ramokgopa sets sights on accelerated transmission line expansion
Turning to South Africa’s logistics challenges, the Minister revealed that third-party access to the freight rail network will be introduced by May 2024.
“In ports, a private partner has been secured to upgrade Pier 2 of the Durban Container Terminal. This should increase private investment in equipment, enhance technological capability and improve operational efficiency.
“Government has provided Transnet with a R47 billion guarantee facility to support the entity’s recovery plan and meet its immediate debt obligations.
“Like Eskom, the guarantee comes with conditions. These conditions require Transnet to focus on its core activities, and for the entity to introduce private sector partnerships. This will improve Transnet’s sustainability and support the implementation of the Freight Logistics Roadmap,” Godongwana said. – SAnews.gov.za
NeoB
Wed, 02/21/2024 - 14:17
425 views
Hope is on the horizon despite South Africa’s economic challenges
Hope is on the horizon despite South Africa’s economic challenges The nation’s eyes and ears will be focused on Cape Town today as Finance Minister Enoch Godongwana presents the 2024 National Budget. It is no secret that South Africa faces a challenging economic climate where austerity is the phrase most commonly used during the Budget. …
Treasury to tap into foreign exchange account to reduce debt service costs
Treasury to tap into foreign exchange account to reduce debt service costs
A combination of high debt servicing costs and a higher budget deficit has led to the introduction of a new reform of the Gold and Foreign Exchange Contingency Reserve Account (GFECRA).
The reform is aimed at mitigating fiscal risks by reducing government borrowing in the medium-term and will allow government to draw down from its GFECRA held at the Reserve Bank.
This was announced by Finance Minister Enoch Godongwana during the tabling of the 2024 Budget Speech held in Cape Town on Wednesday.
GFECRA is a Reserve Bank held account which captures gains and losses on South Africa’s foreign currency reserve transactions and the account has grown to more than R500 billion.
“We will draw down R150 billion of the GFECRA balance once we have ensured that sufficient buffers are available to absorb exchange rate swings and the solvency of the Reserve Bank is not compromised,” he said.
The draw down is expected to result in a decline of some R30.2 billion in government debt servicing costs over the 2024 Medium Term Expenditure Framework (MTEF).
Godongwana explained that national government debt is expected to peak at some 75.3% of the Gross Domestic Product (GDP) in 2025/26 with 2023/24’s budget deficit estimated to worsen to 4.9 % of GDP.
Debt-service costs in 2023/24 have been revised higher, by R15.7 billion to R356 billion.
The Minister said this will require that government stick to its fiscal goals with cuts in expenditure reaching more than R80 billion.
“Debt-service costs will absorb more than 20 % of revenue. To put this into perspective, spending on debt-service costs is greater than the respective budgets of social protection, health, or peace and security.
“A net reduction of R80.6 billion in non-interest expenditure is being implemented over the medium-term. At the same time, revenue has been revised up by R45.6 billion over the medium-term, relative to [the] 2023 MTBPS [Medium Term Budget Policy Statement]. [This is why] we have taken the decision to introduce a reform…GFECRA,” he said. – SAnews.gov.za
NeoB
Wed, 02/21/2024 - 14:19
420 views
The Sixth Edition Of The S.Pellegrino Young Chef Academy Competition Opens Its Doors To The World’s Most Talented Chefs Under 30
S.Pellegrino Young Chef Academy Competition 2024-25 will turn the spotlight on the best culinary talents who hold the future of gastronomy in their hands: applications open 21st February. Cape Town, South Africa, 21st February 2024 – S.Pellegrino announces a new edition of the S.Pellegrino Young Chef Academy Competition, the global initiative to discover and mentor …
Zeitz MOCAA Gala 2024: A Spectacular Celebration of Art Excellence
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Social grants to increase in 2024
Social grants to increase in 2024
Social grants are expected to increase to keep in line with inflation and increase access for those who are eligible.
This does not include the Social Relief of Distress Grant (SRD Grant) also known as the R350 grant.
This was announced by Finance Minister Enoch Godongwana during the Budget Speech delivered in Cape Town on Wednesday.
“We are sensitive to the increase in the cost of living for the nearly 19 million South Africans who rely on these grants to make ends meet. In this regard, we have done as much as the fiscal envelope allows,” he said.
The increases to be implemented during this year are as follows:
- An increase of R100 to the old age, war veterans, disability and care dependency grants. This amount will be divided into R90 effective from April, and R10 effective October;
- A R50 increase to the foster care grant; and
- A R20 increase to the child support grant.
In the expanded Budget 2024 review, National Treasury explained that social grant expenditure – excluding the SRD grant – will increase from R217.1 billion in 2023/24 to R259.3 billion in 2026/27.
The COVID‐19 Social Relief of Distress Grant is allocated R33.6 billion in 2024/25 with provisional allocations for the 2025/26 and 2026/27.
“Work is currently underway to improve the COVID-19 Social Relief of Distress Grant by April this year. National Treasury will work with the Department of Social Development in ensuring that improvements in this grant are captured in the final regulations.
“These improvements will be within the current fiscal framework. For the extension of the grant beyond March 2025, the social security policy reforms, together with the funding source, will be finalised,” the Minister said.
National Treasury expects that grant beneficiaries, excluding those receiving the COVID‐19 SRD Grant, are projected to increase from 18.8 million in 2023/24 to 19.7 million in 2026/27. – SAnews.gov.za
NeoB
Wed, 02/21/2024 - 14:22
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Continent’s green future in focus as Africa’s Green Economy Summit approaches
CAPE TOWN, 19 February 2024: Thought leaders, policy makers and investors with an interest in Africa’s green economy transition are gathering in Cape Town ahead of this week’s Africa’s Green Economy Summit, taking place in the city from 21-23 February 2024. The summit, now in its second year, is centred around connecting the global investment …
Disabled beneficiaries receive keys to their new homes in the Vlakkeland development
On Monday 19 February, Western Cape Premier Alan Winde, Minister Tertuis Simmers, and Drakenstein Executive Mayor Conrad Poole visited the Vlakkeland housing development and handed over new houses. The Vlakkeland housing development is earmarked to deliver 2556 housing opportunities upon completion and will include a commercial site. To date 755 houses have been handed over …