It's has been a tough but hopeful budget. South Africa’s Finance Minister Malusis Gigaba quoted everyone from Julius Nyerere, Theodore Roosevelt, Nelson Mandela to Hugh Masekela. But what do people in top positions in business feel about this budget? Joining CNBC Africa for this discussion are Alan Mukoki, CEO of Sacci, Matsi Modise, Managing Director of Simodisa, Thabile Wonci, Managing Director, BMF and Joseph Busha, MD, JM Busha Investments. But first let’s take a quick look at the budget highlights.
Joining CNBC Africa to unpack the details of the budget speech is Lucia Hlongwane, EY Africa Tax Leader, Tendani Mantshimuli, CFO, Group IT Finance, Liberty, Tim Nhamo, Founder, Ironhead Trading.
South Africa’s Finance Minister Malusi Gigaba delivered the country’s 2018 Budget Speech with the view to promote social transformation and more inclusive economic growth. Erika De Villiers, Head of Tax Policy, Sait, Tracy Brophy, SAICA National Tax Committee Chair and Zweli Mabhoza, Founder, Priority Tax breaks down the budget.
South Africa’s Finance Minister Malusi Gigaba, delivered his maiden 2018 budget speech in parliament on Wednesday and announced a number of increases including VAT.
CNBC Africa spoke to Minister of Trade and Industry Rob Davies as he shares his thoughts on the 2018 budget delivered by South African Finance Minister Malusi Gigaba.
If you enjoy the finer things in life, Treasury has just made these goods more expensive.
By Aviwe Mtila South Africa’s state-owned companies (SOCs) continue in financial disarray with combined profits falling from 0.8 per cent in 2015/16 to 0.3 per...
By Aviwe Mtila South Africa’s ailing economy takes a turn for the better with a GDP growth of 1 per cent for 2017, up from...
By Aviwe Mtila While South Africa’s economic and political woes are facing prospects of a new dawn with its recent change in leadership, a lot...
By Monique Vanek (PRETORIA) For the first time since 1993 Treasury has decided to hike South Africa’s value-added tax (VAT) by one percentage point to...
By Monique Vanek (PRETORIA) Government faces a revenue gap of R48.2bn in 2018. This was revealed by South Africa’s Finance Minister Malusi Gigaba in his maiden...
All eyes will be on Treasury’s economic outlook and projections for the next financial year as Finance Minister Malusi Gigaba delivers his maiden budget speech. What will be done about fiscal consolidation? Where is the budget deficit going and what is the trajectory for our sovereign debt? Joining CNBC Africa to discuss some of these important points are Professor Cyril Mbatha, Unisa Graduate School of Business Leadership, Annabel Bishop, Chief Economist at Investec, Ettiene Retief, Chairman, National Tax Committee at SAIPA and Professor Jannie Rossouw, Head of the School of Economic and Business Science at Wits University.
It's D-Day for Finance Minister Malusi Gigaba today. Gigaba will deliver his maiden budget and will have some tough decisions to make to plug a R51 billion hole in South Africa's budget amid slow economic growth. He is expected to announce harsh tax increases and other revenue raising measures. Joining CNBC Africa to talk more about what South Africans can expect today is Craig Pheiffer, Chief Investment Strategist, Absa Stockbrokers and Portfolio Management and Dr Ferdie Schneider the Head of Tax at BDO.
Old Mutual Investment Group’s Head of Economic Research, Johann Els argues significant tax hikes are needed.
The guarantees and exposure to SOEs pose a significant risk to South Africa’s fiscal position.
S&P Global warns that South Africa’s rating future lies in the hands of its policymakers
VAT does not make inequality better or worse in South Africa
Very soon, the Finance Minister Malusi Gigaba is expected to deliver his maiden budget speech where he will have to outline how he intends to direct government spending to boost economic growth, lower debt and avert a triple downgrade from ratings agencies to junk status. For the next half hour we will pick from the minds of some of South Africa's leading economists about how he can do this and deliver a spending plan that doesn't disappoint like the medium term budget plan did last October. Joining CNBC Africa is Tumisho Grater, Economic Strategist at Novare, Zweli Mabhoza, Founder Priority Tax Solutions, Owen Khumalo, Senior Investment Consultant at Old Mutual Corporate Consultants and Lesley O’Connell, VAT and Indirect Tax Partner at PwC South Africa.
MTBPS suggests change in direction of policy making away from a focus on fiscal consolidation.
By: Monique Vanek In a press conference with media ahead of the release of the Medium Term Budget Policy framework, South Africa’s Finance Minister Malusi Gigaba...