The appointment of Tito Mboweni as the new Minister of Finance is likely to be viewed as a positive by credit ratings agencies and markets, placing South Africa in excellent stead for reigniting economic growth and investment, says Citadel Director and Chief Investment Officer George Herman.
Yesterday morning, City Press revealed that VBS Mutual Bank faced the possibility of a spectacular crash, following Treasury’s instruction to municipalities to stop investing with the institution. “The order was given early last year and states that the Municipal Finance Management Act forbids municipalities from investing in mutual banks. As a result, a number of councils...
The South African Minister of Finance Pravin Gordhan and Reserve Bank Governor Lesetja Kganyago attended the first G20 Finance Ministers and Central Bank Governors meeting under the German presidency in Baden-Baden, Germany on 17th – 18th March 2017, the National Treasury said in a statement today.
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