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Industry News

22 Feb 2019

FNB cracks down on rogue debit order fraud

FNB has detected abnormally high volumes and disputes of suspicious debit orders with descriptors Procall and Mzansi in December 2018 and January 2019.
20 Feb 2019

BUDGET 2019: FNB welcomes R950m subsidy for first-time home buyers

By Dr Christoph Nieuwoudt; CEO of FNB Consumer FNB has welcomed the Finance Ministry’s announcement that first-time home buyers will benefit from a R950 million subsidy over the next three years. This is part of the Government’s ‘Our Help To Buy’ initiative to help first-time buyers to own a home.
20 Feb 2019

Budget – South Africans urged to consider long-term view

Commentary by Kenosi Magosha, Head of Client Solutions Savings at Sanlam Personal Finance. Finance Minister Tito Mboweni today said, “We are masters of our own destiny”, as he outlined a number of fiscal prudence measures aimed at assisting SA’s economic recovery. For the South African consumer there is a mix of good and bad news.
20 Feb 2019

BUDGET 2019 - OUTA: A new fuel tax without clarity is unacceptable

The Organisation Undoing Tax Abuse is concerned that government has introduced a new tax on fuel (referred to as a carbon tax) at 9 cents per litre on petrol and 10 cents per litre on diesel which comes into effect on 5 June 2019. This new tax will impact on individuals and the transport industry,...
20 Feb 2019

Mboweni delivers sober budget weighed down by Eskom

By Nazmeera Moola, Deputy MD, Investec Asset Management Finance Minister Tito Mboweni delivered some very hard messages in his maiden Budget Speech today.  None of it came as a surprise.  However, as the ANC has shied away from facing any of these issues over the last decade, the real surprise lay in their willingness to...
20 Feb 2019

BUDGET 2019: ‘Public wage bill is unsustainable’

Finance Minister, Tito Mboweni, said today in his maiden budget speech to parliament, that the public wage bill is unsustainable.
20 Feb 2019

BUDGET 2019: ‘We are borrowing R1.2bn a day’

The Minister of Finance, Tito Mboweni, in his maiden budget speech, today told parliament that in the coming year, Treasury expects revenues of R1.58 trillion and spending of R1.83 trillion. “That means we will spend R243 billion more than we earn.”
20 Feb 2019

BUDGET 2019: 'Government is not taking on Eskom’s debt'

Pouring money directly into Eskom in its current form is like pouring water into a sieve. That was the word from Minister of Finance, Tito Mboweni, today as he tabled the 2019 Budget in parliament.
20 Feb 2019

BUDGET 2019: The tax changes

Addressing parliament today, Minister of Finance, Tito Mboweni said in his maiden budget speech that fiscal prudence required some tax changes, adding that the tax measures for the 2019 Budget are designed to raise an estimated R15 billion in additional revenue in 2019/20. 
20 Feb 2019

BUDGET 2019: Tax revenue revised down

In his maiden Budget Speech today, Finance Minister Tito Mboweni said that tax revenue had been revised down by R15.4 billion in 2018/19 compared with the medium-term budget policy statement (MTBPS) estimates.

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