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Posts Tagged ‘Finance Minister’
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April 3, 2018

‘Investors abroad inspired by new president’

Treasury Director General Dondo Mogajane has told Eyewitness News the country’s new leadership has helped Treasury officials, business and labour in their discussions with investors abroad.

Treasury is leading a high-level delegation including representatives of labour and business on a week-long investor roadshow in London, Boston and New York.

The purpose of the roadshow is to continue developing relationships with international investors and to provide them with an update after budget 2018.

It’s understood that new Finance Minister Nhlanhla Nene has been widely welcomed by investors.

Treasury says investors abroad are inspired by the country’s new [...]

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March 16, 2018

ENERGY DEPT NEEDS R1 TRILLION FOR NUCLEAR PLANS

Finance Minister Nhlanhla Nene confirmed that nuclear plans will remain on the table but will only be implemented at a pace the country can afford.

Finance Minister Nhlanhla Nene says the Energy Department will need a budget of R1 trillion for its nuclear plans.

Nene confirmed that nuclear plans will remain on the table but will only be implemented at a pace the country can afford.

The Finance Minister gave his first public address in Tshwane on Monday at a Fedusa conference.

“Which means we must not move away from the existing plans and we’re sitting with the IPPs as we speak on renewable energy, some of them that are due to be signed quite soon, some of [...]

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March 16, 2018

SA to raise GDP growth forecasts in October – Nene

National Treasury will probably raise projections for economic growth this year in its October mid-term budget as the country overcomes governance and financial problems that have lowered confidence, said Finance Minister Nhlanhla Nene.

Newly appointed President Cyril Ramaphosa reappointed Nene to the role last month. When former leader Jacob Zuma fired him and replaced him with a Des van Rooyen in 2015, the move triggered a sell-off in the rand and bonds.

Policy uncertainty and state graft concerns saw Fitch Ratings and S&P Global Ratings lower their assessments of the nation’s debt to junk. The economy slumped into a recession in 2017 and has mounted a fragile [...]

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February 12, 2018

Eskom’s Koko facing four new charges, including misleading Parliament

Newly suspended top Eskom executive Matshela Koko is facing four new charges, including that of misleading Parliament, according to his suspension letter and an internal Eskom charge sheet.

In the letter the state power utility, which on Wednesday evening confirmed that Koko had again been suspended, alleges he “committed serious acts of misconduct” and “gross negligence”.

The letter, was written by Eskom’s interim group CEO Phakamani Hadebe.

In it he states that Koko breached the Eskom code of conduct when he appeared before a parliamentary committee investigating state capture in January by knowingly attempting to mislead Parliament.

“In this [...]

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