Cosatu members protests against VAT hike in Johannesburg on March 20, 2025. 2 minutes The Congress of South African Trade Unions (COSATU) has refuted National Treasury’s statement that by not increasing VAT, the medium-term revenue shortfall will be R75 billion. Media statement: Reversal of VAT rate increase #VATIncrease #VAT pic.twitter.com/NychMwsGAK — National Treasury RSA (@Treasury_RSA)…
South African bank notes. 3 minutes The Democratic Alliance (DA) has welcomed the reversal of the 0.5 percent VAT increase, which was meant to take effect next Thursday. National Treasury earlier this morning announced the reversal of the controversial VAT hike following extensive consultations with political parties. National Treasury says that by not increasing VAT,…
Minister of Agriculture John Steenhuisen 3 minutes Agriculture Minister John Steenhuisen says South Africa’s presidency of the G20 comes at a crucial time. Steenhuisen says the world’s food systems are threatened by food insecurity, climate volatility and systemic exclusion. He was addressing delegates at the opening of the G20 meetings of the Agriculture Working Group and Food…
1 minute Tourist numbers to South Africa and the rest of the African continent are on the rise. Tourism Minister Patricia de Lille shared the update during a media briefing in Durban, ahead of the 2025 Africa Travel Indaba set for next month. De Lille reveals that South Africa welcomed nearly 9 million tourists in…
A woman uses a trolley as she shops at a Pick n Pay store at the Dobson Point Shopping Centre, in Soweto, South Africa, March 19, 2024. 1 minute Consumer inflation has slowed in line with market expectations. Stats SA data shows that annual Consumer Price inflation rose by two-point-seven percent in March, on a…
South African Reserve Bank (SARB) Governor, Lesetja Kganyago speaks on the sidelines of a meeting of G20 finance officials in Cape Town on February 25, 2025. 1 minute South African Reserve Bank (SARB) Governor Lesetja Kganyago says the G20 must decide which issues to prioritise and establish better processes to reclaim its impact. Kganyago delivered…
[File photo] A worker counts money 1 minute Finance Minister Enoch Godongwana has reversed the 0.5 percentage point VAT increase he announced during the passing of the budget in March. The VAT increase was later approved by the National Assembly with a slight margin with recommendations from ActionSA which was against the increase, saying that…
SARB building in Pretoria 1 minute The composite leading business cycle indicator in South Africa rose by 0.9% monthly in January 2025. The latest number from the Reserve Bank follows a revised fall of 1.5% in the previous month. The rebound was driven by increases in 4 of the 10 available component time series, which…
Mexican President Claudia Sheinbaum 1 minute Mexican President Claudia Sheinbaum said on Tuesday that she does not agree with the International Monetary Fund’s forecast that her country’s economy will contract this year. “We do not know what it is based on. We do not agree … We have our economic models, which the finance ministry…
Tax-related material on a desk. 3 minutes ActionSA has accused the Democratic Alliance (DA) of complicity in the initial proposed controversial two percentage point VAT increase, despite the party’s public denials. A Parliamentary reply that ActionSA has obtained reveals that DA MP and Finance Deputy Minister Ashor Sarupen allegedly played a significant role in drafting the original budget speech…
