President Cyril Ramaphosa at the 8th South Africa-European Union. 1 minute The president of the European Council, Antonio Costa says there’s a need for strengthened multilateralism to respond to common global challenges. Costa was speaking at the EU-South Africa Summit in Cape Town. Both South Africa and the EU are grappling with aid and trade…
People are encouraged to buy property well within their budget 2 minutes There is good news for first-time property buyers and property investors as National Treasury has adjusted property transfer duty brackets. According to the 2025 budget, transfer duty brackets change by 10% on property purchases of less than R1.210 million. This means that there…
Women work at a garment factory. 1 minute Manufacturing production in South Africa has continued its downward trend, slipping by 3,3% year-on-year in January 2025. The largest negative contributions were petroleum, chemical products, rubber and plastics division. Meanwhile, the automotive division recorded its ninth consecutive month of year-on-year decline. Director of Industry Statistics at StatSA…
Finance Minister Enoch Godongwana delivering the Budget Speech 2 minutes Congress of SA Trade Unions (COSATU) says the tabling of the 2025/2026 budget was a difficult one for the Minister of Finance Enoch Godongwana. The labour federation says it welcomes the budget despite the 0.5 percentage point VAT increase. Parliamentary coordinator Matthew Parks says, “It…
Informal traders outside a mall 2 minutes Informal businesses in the Buffalo City Metro in the Eastern Cape have expressed displeasure on the in the VAT increase proposed by Finance Minister Enoch Godongwana. The Minister said a one-percentage point VAT increase has been envisaged over the next two years, meaning that another half a percentage…
South African rands. 1 minute Finance Minister Enoch Godongwana has announced R23 billion additional funding to cover the 5.5% public servants salary increase. But government has warned that only departments that have demonstrated the ability to reduce their wage bill will be entitled the funding to cover the new wage increment. Government has set aside R11…
Minister Enoch Godongwana delivers the budget speech in the National Assembly. 2 minutes National Treasury expects the country’s economy to grow by 1.9% in 2025 and to average 1.8% over the next three years. Finance Minister Enoch Godongwana revealed this while tabling the National Budget in Parliament. The government says it expects a growth recovery…
2 minutes Finance Minister Enoch Godongwana says the country’s debt is now expected to peak and stabilise at 76% of Gross Domestic Product, up from a previous forecast of 75% of GDP in the 2025/26 financial year. Godongwana was delivering the Budget Speech in Cape Town. Spending on interest payments on debt is expected to…
Finance Minister Enoch Godongwana delivering the Budget Speech 2 minutes Finance Minister Enoch Godongwana has reaffirmed government’s determination to ensure sustainable public finances puts South Africa in a stronger position to withstand unforeseen shocks like COVID-19, while creating an environment conducive to higher investment and faster economic growth. The country’s debt remains stubbornly high, the…
Tax-related material on a desk 2 minutes In efforts to broaden government’s strategy to secure additional funding for several frontline functions, Finance Minister Enoch Godongwana on Wednesday increased the value-added tax (VAT) rate by 0.5 percentage points in each of the next two years to 16 percent in 2026/27. In response to the tax increase,…
