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Tag: Nhlanhla Nene

Eight focus points of the budget speech 2016/17

During his Medium-Term Budget Speech (MTBPS) on 21 October 2015, the then Minister of Finance, Nhlanhla Nene, prepared us that government’s revenue shortfall will again be of paramount importance come the...

Rand meltdown brings SA recession / junk rating closer

According to Bloomberg, South Africa is moving closer to a recession and possible credit-rating downgrade to junk after the rand collapsed and as investors lose faith in the ability of President...

Business confidence hits lowest level in more than 20 years

After the finance minister debacle in December, unstable finance markets and an expect US interest rate hike, it is perhaps no surprise that the South African Business Confidence Index (BCI) fell...

Cabinet gives green light to nuclear procurement

The Cabinet has approved the start of the nuclear procurement programme, clearing the way for the Department of Energy to call for proposals to provide SA with 9.6GW of nuclear power...

Pravin is back

After just four days, David van Rooyen has been removed from his position as South Africa’s Finance Minister as President Jacob Zuma reinstated former Finance Minister Pravin Gordhan to the post....

Three finance ministers in a week

After just four days, David van Rooyen has been removed from his position as South Africa’s Finance Minister as President Jacob Zuma reinstated former Finance Minister Pravin Gordhan to the post....

Finance Minister’s fall could be disastrous for business

President Jacob Zuma has announced that Nhlanhla Nene has been removed as Minister of Finance ahead of what he calls another strategic redeployment. “I have decided to remove Nhlanhla Nene...

South African real GDP growth slowed to 1.0% y/y in Q3

The South African real economic growth rate slowed to 1.0% year-on-year (y/y) in the third quarter from 1.3% y/y in the second quarter and 2.2% y/y in the first quarter, according...

Tax changes to boost revenue

Considerations are being made in the tax space to look at how government can raise revenue from Corporate Income Tax as well as Value Added Tax (VAT) receipts, the National Treasury...

Manufacturing production drops 0.4% yr/yr for June

With business activity still under pressure, Stats SA reports that manufacturing production fell for the third consecutive month. Output declined by 0.4% in June 2015 compared with June 2014, this after...

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WEG Africa pioneers local manufacture of MV softstarters in SA

WEG Africa has become the first OEM to produce medium voltage (MV) softstarters in South Africa, reducing lead times for customers and supporting the...

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