It may be tough for SA govt to restrain spending - Moody's

2019-02-21 18:08

Moody's Investor Service has said it may be difficult for the SA government to restrain spending in future, even as the finance minister announced in his maiden Budget that SA's fiscal deficit would grow to 4.5% of GDP in 2019.

Numsa calls for 'rolling mass action' to stop Eskom unbundling

2019-02-21 16:13

The leadership of the National Union of Mineworkers has called for "rolling mass action" to stop the unbundling of Eskom, saying the state is trying to privatise the power utility by stealth.

Gordhan optimistic on Eskom solution with unions

2019-02-21 12:08

The public enterprises minister is optimistic that Eskom and and labour unions can find a “constructive solution” to cutting costs at the utility, which will receive a R69bn cash injection from the state.

Mboweni’s tough talk may be a day late and a dollar short, Busa warns

2019-02-21 07:05

BUSA president Sipho Pityana has lauded Finance Minister Tito Mboweni’s Budget 2019, but says he is likely a day late and a dollar short with the much-needed honesty.

State capture inquiry shines spotlight on Eskom

2019-02-20 15:46

The Zondo commission's legal team has begun to shine the spotlight on power utility Eskom.

No increases in income tax rates or VAT; sin taxes and fuel levies to rise

2019-02-20 14:06

There will be no increases in income tax rates and the VAT rate will remain unchanged, as government seeks to limit the negative effect of tax hikes on SA's already struggling economic growth.

From Eskom to tax, this is Mboweni's budget in a nutshell

2019-02-20 14:04

Finance minister Tito Mboweni's first National Budget came with no real big surprises or shocks. Given the pressure-cooker that is state finances, especially those of struggling power utility Eskom, it appears to be a well-balanced act.

Cancelling Kusile is the only logical option

2019-02-20 12:29

Kusile will further lock South Africa into a polluting coal-based electricity supply, while crowding out investments in renewable energy and perpetuating a cycle of pollution, writes Melita Steele.

Is there light after debt? 7 key figures that put Eskom's crisis in perspective

2019-02-20 07:45

Eskom is struggling to service R420bn in debt. Just how serious are its financial problems?

Support for Eskom threatens govt spend and debt, MPs hear

2019-02-19 13:43

Government's financial support for Eskom will put pressure on the state's ability to maintain the expenditure ceiling, and will possibly have implications for government debt, members of Parliament have heard.


Gordhan: New Eskom board appointments will be made soon to help with turnaround

2019-02-21 17:32

Public Enterprises Minister Pravin Gordhan told members of Parliament that government will appoint additional members to Eskom's board soon. He said these would be people who have engineering skills and experience in turning around ailing institutions.

There is no 'endless supply of cash' Mboweni tells Parliament

2019-02-21 14:05

Finance Minister Tito Mboweni told MPs on Thursday there is "no endless supply of cash" in government, and the state has no printing press to magic new funds.

Analysis: Eskom's troubles show everything that's wrong with SA

2019-02-21 07:55

Eskom is a South African success story gone wrong, having once been named the power company of the year at the Financial Times Global Energy Awards to being unable to meet electricity demand.

Moody's: Mboweni's Budget shows further erosion in SA's fiscal strength

2019-02-20 20:00

Moody's, the only major ratings agency that has not already downgraded SA's sovereign debt to junk, says Tito Mboweni's maiden Budget "highlights the government’s limited fiscal flexibility amid a challenging economic environment".

10 reasons why government wants to restructure Eskom

2019-02-20 14:56

Eskom's restructure is based on a 1998 Energy Policy White Paper which intended Eskom to be split into separate generation and transmission companies, with independent distributors.

How the price of beer, wine and cigarettes will rise

2019-02-20 14:04

Finance Minister Tito Mboweni may not have announced any increases in taxes rates in his maiden Budget, but as in previous years sin taxes – or the tax government levies on alcohol and tobacco - will again rise at above-inflation rates.

Eskom gets R69bn in financial support over 3 years, but with conditions – Mboweni

2019-02-20 14:03

Government has set aside R23bn per year for the next three years to help struggling power utility Eskom service its debt. But it says the financial support comes with conditions.

Eskom must provide reliable power for SA's economy to grow - Radebe

2019-02-20 10:01

South Africa needs to instill confidence in Eskom's ability to provide reliable power so that President Cyril Ramaphosa's efforts to entice investment is not undermined, says Energy Minister Jeff Radebe.

Don't trample on workers, Cosatu pleads in march to Parliament

2019-02-19 14:32

The federation marched to Parliament on the day before Finance Minister Tito Mboweni is set to deliver his maiden Budget to call for job security and an end to retrenchments.

Cosatu takes march over jobs to Parliament

2019-02-19 07:28

Union members affiliated to Cosatu are set to march to parliament as part of its efforts to mobilise for pro-poor policies ahead of the National Budget

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